$MINIMAX-W(00100.HK)$Z.AI(02513.HK)
🤖 Zhipu vs MiniMax: Which Chinese AI Giant Is Pulling Ahead? 📊
Both are exploding with growth — but their financial stories tell very different tales!
📈 Zhipu (02513.HK)
• Revenue: RMB 954M — up 399.7% YoY 🚀
• API business grew over 27x, gross margin turned positive at 24.6% ✅
• Adjusted net loss up only 12.1% — excellent cost control!
• ⚠️ But: Revenue came in ~30% below forecasts
📊 MiniMax (100.HK)
• Revenue: US$116.6M — up 283.1% YoY 📈
• B2B platform surging, consumer products doubled
• ⚠️ Adjusted net loss widened 111.2%, gross margin fell to 17.9%
• ✅ Forward indicators strong: ARR > US$800M, token use soaring
💰 Valuation Gap:
Zhipu ~HK$556B vs MiniMax ~HK$122B — a massive 4.6x difference!
🏆 So Who’s Winning?
Zhipu has better unit economics and pricing power. MiniMax offers global reach, product diversity, and faster growth momentum. The AI race is wide open! 🚀
Full side-by-side breakdown in the infographic! 👇
Not financial advice. Please always do your own DD 😉.
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