BlockBeats News, March 2nd, Hong Kong-listed company MINIMAX-WP(00100.HK) released its 2025 full-year financial report after the market today.
Total revenue was USD 79.038 million, a YoY increase of 158.9%, compared to USD 30.523 million in 2024;
AI-native product revenue was USD 53.1 million, accounting for 67.2%, with a YoY increase of 143.4%, mainly driven by Hailuo AI, Talkie, etc.;
Other revenue from open platforms, enterprise services, etc., was USD 25.96 million, accounting for 32.8%, with a YoY increase of 197.8%;
Over 70% of the 2025 full-year revenue came from international markets.
Gross profit was USD 20.1 million, a YoY increase of 437.2%, compared to USD 3.738 million in 2024;
Gross margin was 25.4%, a 13.2 percentage point increase YoY, significantly improved from 12.2%, mainly due to economies of scale and cost optimization.
Net loss was approximately RMB 1.872 billion, a YoY expansion of 302.3%, compared to RMB 465 million in 2024;
Adjusted net loss was USD 250.9 million, equivalent to about RMB 1.78 billion, slightly larger than the USD 244.2 million in 2024, but the adjusted net loss rate narrowed significantly, indicating improved operational efficiency.
R&D expenses increased by about RMB 404 million YoY; Sales and marketing expenses decreased by about RMB 519 million YoY; Administrative expenses increased by about RMB 368 million YoY.
