MiniMax上市招股书深度解读：AI巨头的财务与前景
MiniMax作为国内头部AI厂商在港股上市，其招股书显示2025年前9个月收入达5343万美元，同比增长174%，ToC业务毛利率从负转正至4.7%，ToB业务毛利率高达69.4%。研发开支是收入的3倍多，主要用于模型训练。公司现金流健康...
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