MiniMax 2025 Annual Report: Total revenue of $79.038 million, a year-on-year increase of 158.9%, with over 70% of revenue coming from international markets BlockBeats News: On March 2nd, MINIMAX WP (00100. HK), a Hong Kong listed company, released its full year financial report for the fiscal year 2025 after hours today. The total revenue was $79.038 million, a year-on-year increase of 158.9%, and $30.523 million in 2024; The revenue of AI native products was 53.1 million US dollars, accounting for 67.2%, a year-on-year increase of 143.4%, mainly driven by Hailuo AI, Talkie, etc; Revenue from other open platforms and enterprise services was 25.96 million US dollars, accounting for 32.8%, a year-on-year increase of 197.8%; More than 70% of the annual revenue in 2025 comes from the international market. Gross profit of 20.1 million US dollars, a year-on-year increase of 437.2%, reaching 3.738 million US dollars in 2024; The gross profit margin was 25.4%, a year-on-year increase of 13.2 percentage points, a significant improvement from 12.2%, mainly due to economies of scale and cost optimization. Net loss of approximately RMB 1.872 billion, an increase of 302.3% year-on-year, and RMB 465 million in 2024; After adjustment, the net loss was 250.9 million US dollars, approximately 1.78 billion yuan, slightly larger than the 244.2 million US dollars in 2024, but the adjusted net loss rate significantly narrowed. Show improvement in operational efficiency. R&D expenses increased by approximately RMB 404 million year-on-year; Sales and marketing expenses decreased by approximately 519 million yuan year-on-year; The administrative expenses increased by approximately 368 million yuan year-on-year.