MiniMax Group (0100.HK) shares climbed 4.95% to HK$318.00 in early Hong Kong trading after the Chinese AI company reported first-half revenue of $116.6 million, up 283.1% year over year and already above its full-year 2025 total of $79 million. Open platform and other AI enterprise services jumped 703.1% to $73.9 million, or 63.4% of revenue, while AI-native products including Hailuo AI doubled to $42.6 million. The figure came in slightly below the $120 million consensus compiled by S&P Global Visible Alpha, yet investors focused on improving monetization, a gross margin rise to 17.9%, and a narrower net loss of $358 million. Earlier disclosures also showed August ARR above $800 million, overseas markets at 60.8% of sales, and enterprise and developer customers contributing about 80% of ARR. Cash stood at $1.32 billion, and MiniMax separately announced a real-time conversational AI collaboration with Agora.