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MINIMAX 2026 财年上半年归母亏损 3.58 亿美元，同比亏损收窄 11%_我的网站
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Photo: Global Times
Editor's Note:
Ahead of the opening of the 2026 World AI Conference and High-Level Meeting on Global AI Governance, Chinese AI start-up Moonshot AI released its Kimi K3 large language model. As the world's largest open-source model by parameter count to date, this launch marks a significant step forward in the development of China's artificial intelligence models.
From the C919 airliner soaring into the skies to Unitree's humanoid robots stealing the show; from DeepSeek pushing the AI frontier to Moonshot AI's landmark unveiling of Kimi K3 - China's wave of homegrown innovations has dominated global headlines in recent years, delivering a steady stream of breakthroughs.
At a meeting in Beijing that brought together the national science and technology award conference, the general assemblies of the members of the Chinese Academy of Sciences (CAS) and the Chinese Academy of Engineering (CAE), and the 11th national congress of the China Association for Science and Technology in July, Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, stressed that the 15th Five-Year Plan period (2026-2030) is a critical phase for tackling tough challenges in building up the country's strength in science and technology.
"We must seize the historic opportunity, rise to the challenges of the times, accelerate efforts to achieve high-level self-reliance and strength in science and technology, and make steady progress toward the 2035 goal of becoming a leading country in science and technology," he said.
In the article "Strive for Greater Strength and Self-Reliance in Science and Technology" included in the fourth volume of
Xi Jinping: The Governance of China, Xi pointed out, "Through years of endeavor, our country's overall strength in science and technology has improved substantially. We therefore have a solid foundation, and are fully confident in our ability to seize the opportunities offered by the new revolution in science, technology and industry to achieve greater results." The article also mentioned that "We should participate to the full in global science and technology governance, contribute Chinese wisdom, and shape a philosophy of technology for good purposes, so that science and technology better serve human wellbeing, and enable China's science and technology industry to contribute more to building a global community of shared future."
In the 27th installment of the special series "Decoding the Book
Xi Jinping: The Governance of China," the Global Times, along with the People's Daily Overseas Edition, continues to invite Chinese and foreign scholars, translators of Xi's works, practitioners with firsthand experience, and international readers to focus on the theme of striving for greater strength and self-reliance in science and technology. Together, they share views on China's tech growth, governance principles, and global cooperation in science and technology.
Here are the stories:1. Readers’ Reflections: China’s innovation success is real global news, landing in the living rooms of Italian retirees who barely use a smartphone: Italian scientist
2. Practitioners' Insights: How did a decade of dedicated effort build China a self-reliant 'digital track'?
3. Translators’ Voices: China's pursuit of strength and self-reliance in science and technology presents an inspiring path
4. Scholars’ Perspectives: National support, optimized evaluation allow young talent to pursue long-term breakthroughs: researcher
Photo: Global Times
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二 | 总收入高速增长：2026 财年上半年实现总收入 1.17 亿美元（现汇率约合 7.85 亿元人民币） ，同比增长 283.1% ，已经超过 2025 年全年 7,900 万美元（现汇率约合 5.32 亿元人民币） 的总收入，增长动力来自全球客户及用户群扩张、模型推理需求提升。业务结构持续优化：开放平台及其他基于 AI 的企业服务收入同比增长 703.1% ，达到 7,392.9 万美元（现汇率约合 4.98 亿元人民币） ，占总收入比例提升至 63.4% ，业务增长的企业付费属性持续增强。AI 原生产品稳健增长：AI 原生产品收入同比增长 100.9% ，达到 4,264.4 万美元（现汇率约合 2.87 亿元人民币） ，用户参与度和付费意愿持续提升，商业化进展顺利。毛利率显著提升：毛利达到 2081.3 万美元（现汇率约合 1.4 亿元人民币） ，同比增长 464.8% ，毛利率提升至 17.9% ，同比提升 5.8% 个百分点，基础设施效率提升推动盈利能力改善。研发效率提升：研发开支同比增长 138.8% ，显著低于收入增速，研发成果转化效率提升，为长期技术迭代奠定基础。全球化布局深化：产品覆盖超过 230 个国家和地区，中国内地以外地区收入占比达到 60.8% ，国际化收入占比持续提升。MiniMax 认为模型智能仍有巨大提升空间，未来将聚焦编程与 Agentic 工作领域、办公应用领域、视频生成领域持续迭代，拓展智能供给范围；持续推进性能与成本边界拓展，通过全栈协同提升训练和推理效率，实现前沿 AI 能力大规模普及；同时持续拓展开放平台，丰富 AI 原生产品矩阵，推进全球商业化进程，践行「与所有人共创智能」的使命。
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