Chinese large language model developer MiniMax has passed its listing hearing with the Hong Kong Exchanges and Clearing (HKEX) and plans to go public in January 2026, according to a TiMedia report on Wednesday.

MiniMax, formally known as Xiyu Technology, has also completed its filing with the China Securities Regulatory Commission (CSRC), clearing the key regulatory steps required for an offshore initial public offering.

Founded in early 2022, MiniMax would become one of the fastest AI companies globally to progress from inception to IPO, completing the journey in just four years if the listing proceeds as planned. The company is positioning itself as the market’s first publicly listed “global AGI” pure-play.

MiniMax said its products and services are now used by 212 million users across more than 200 countries and regions, with over 100,000 enterprise clients worldwide. The company has built a sustainable revenue model through paid subscriptions and model API calls, it added.

The planned listing comes as Chinese AI companies accelerate efforts to access capital markets amid intensifying competition in foundation models and growing demand for large-scale computing and commercialization capabilities.