According to CoinMeta, MiniMax achieved revenue of $117 million in the first half of the year, a year-on-year increase of 283.1%, which already exceeds the entire revenue of last year. Business using the MiniMax model has seen the fastest growth, with revenue rising from $9.2 million to $73.93 million, a year-on-year increase of 703.1%, accounting for 63.4% of the total revenue. In addition, products such as AI have seen their revenue double to $42.64 million, although their proportion has decreased to 36.6%. The overseas market remains the main source of revenue, with income from outside mainland China accounting for 60.8%. The gross margin increased from 12.1% to 17.9%, while sales and marketing expenses decreased by 17.9%. Research and development expenses amounted to $297 million, about 2.5 times the revenue for the same period. The net loss on the books narrowed by 11% to $358 million year-on-year, but the adjusted net loss expanded by 111.2% to $293 million.