MiniMax Group

0100.HK

Hong Kong Stock Exchange

Exchange

Hong Kong Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Dec 31, 2025

MiniMax Group Inc is a Chinese artificial intelligence company that builds AI models and tools for creating audio, video, and interactive content. Its core products include text-to-speech, voice cloning, video generation, and AI chatbot technology. The company sells these tools to businesses and developers who want to add AI-generated media to their apps and services.

MiniMax makes money by charging businesses for access to its AI models through an API, meaning companies pay based on how much they use the technology. It operates primarily in China but has been expanding internationally, competing with both Chinese AI firms and global players like OpenAI and ElevenLabs. The company's main competitive edge is its multimodal AI capabilities — handling text, voice, and video together — but its biggest risk is the intense and fast-moving competition in generative AI, where newer models can quickly make existing ones obsolete.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+131.1% YoY

Strong revenue growth

EPS Growth

-739.6% YoY

Earnings declining

Cash Runway

~4 years

$1.1B cash & investments

Quarterly Free Cash Flow

$1.1B cash & investments at current burn rate

Strong grower

MiniMax Group is growing revenue at 131% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

29.7%

Modest — 29.7% gross margin

Operating Margin

-360.0%

Losing money on operations — -360.0%

ROCE

-9.3%

Weak — -9.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+131.1%

Fast-growing sales (+131.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/1 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-276.3%

Burning cash (-276.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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