XiYu Technology, operating under the brand name MiniMax, has successfully crossed the finish line of its Initial Public Offering (IPO) journey and has now been officially listed on the main board of the Hong Kong Stock Exchange, bearing the stock code 00100.HK.

Should the greenshoe option be fully utilized, a total of around 33.58 million shares will be up for sale on a global scale. Priced at the upper - bound of HK$165 per share, the IPO is projected to raise approximately HK$5.54 billion.

As a globally - recognized leader in general artificial intelligence, XiYu Technology has independently developed a full - modality general large model. This achievement places it among the "exclusive quartet of full - modality large model companies worldwide that have made it to the top tier."

By September 2025, its user base had extended its reach to over 200 countries and regions, with the number of individual users surpassing 212 million. In the first nine months of 2025, the company witnessed a remarkable year - on - year revenue growth of over 170%, with overseas revenue contributing more than 70% to the total.

During the listing ceremony, Yan Junjie, the founder and CEO, expressed the company's unwavering commitment. He stated that they would persist in their pursuit of progress in the field of intelligence and actively contribute to social and economic development.