Section 07
Management & Governance
3
Co-Founders
Ex-SenseTime leadership
9
Directors
4 Exec + 2 Non-Exec + 3 INED
~700
Employees
Dec 31, 2024
~70%
R&D Staff
Technical talent focus
Leadership Overview
MiniMax was founded in December 2021 by Yan Junjie (Chairman & CEO), Zhou Bin (Director), and Yang Bin (Chief Scientist), all formerly from SenseTime, one of China's leading AI companies. The founding team combines deep expertise in AI research, large-scale engineering, and commercialization. The company has attracted substantial backing from major strategic investors including Tencent, Alibaba, Hillhouse Capital, and IDG Capital, reflecting strong confidence in the leadership team's ability to execute on the foundation model opportunity.
Founder-Led Company with Deep AI Expertise
MiniMax's three co-founders previously held senior positions at SenseTime, one of China's largest AI companies. They bring combined expertise in AI research, large-scale model training, and commercial AI product development. The founding team's track record in building and scaling AI systems is a key competitive advantage.
Co-Founders
YJ
Yan Junjie (闫俊杰)
Chairman & CEO
Former Vice President at SenseTime. Led AI research and commercialization. Deep expertise in large-scale model training and AI infrastructure. Recognized as one of China's leading AI entrepreneurs.
Ex-SenseTime VP
AI Pioneer
ZB
Zhou Bin (周彬)
Co-Founder & Director
Former Senior Executive at SenseTime. Expertise in AI engineering and product development. Played key role in scaling AI systems and building technical teams.
Ex-SenseTime
AI Engineering
YB
Yang Bin (杨斌)
Co-Founder & Chief Scientist
Former AI Research Leader at SenseTime. Leads MiniMax's core AI research. Expertise in foundation models, multi-modal AI, and cutting-edge model architectures.
Ex-SenseTime
AI Research
Employee Overview
~700
Total Employees
As of Dec 31, 2024
~70%
R&D Staff
Research & Engineering
PhD+
Top Talent
Leading universities
2021
Founded
Shanghai, China
Team Composition
Source: MiniMax IPO Prospectus, Company Information
World-Class R&D Capabilities
As of September 30, 2025, MiniMax has built an R&D team of 284 members, representing approximately 73.8% of total employees. The R&D team is structured into specialized groups focused on text, video, audio models, AI infrastructure (training and inference), and product development. Core R&D team members include experts formerly with global AI leaders such as Microsoft, Google, Meta, Alibaba, ByteDance, and DeepSeek.
284
R&D Team Members
Sep 2025
73.8%
Of Total Employees
R&D focused
5
Specialized Groups
Text, Video, Audio, Infra, Product
6+
Global AI Leaders
Prior experience
Core R&D Team Leaders
YJ
Dr. Junjie Yan (闫俊杰)
R&D Team Leader & CEO
More than a decade of R&D experience. Laid the foundation for MiniMax and was critical in shaping the Group's long-term strategies, particularly the adoption of MoE and Linear Attention innovations. Published approximately 200 academic articles with over 30,000 citations.
PhD - Chinese Academy of Sciences
Post-Doc - Tsinghua University
BS Math - Southeast University
Awards: Guangdong Province Technology Invention Award (2020), Wu Wenjun AI Natural Science Award (2019), Wu Wenjun AI Technology Progress Award (2019), Shanghai Oriental Talents Program (2024), Senior Professional Title (2025)
PZ
Mr. Pengyu Zhao
LLM Research & Engineering Leader
Executive Director responsible for research and development of large language models. Joined MiniMax as NLP researcher and engineer in August 2023. Extensive experience in algorithm-related R&D with published papers on neural networks and reinforcement learning.
MS Computer Science - Peking University
BS Computer Science - Peking University
Prior: Research Software Development Engineer at Beijing Hulu Technology (2020-2023), responsible for recommendation algorithms
YZ
Mr. Yucong Zhou
Visual Model Research & Engineering Leader
Executive Director responsible for research and development of visual models (Hailuo AI). Joined MiniMax as visual model researcher and engineer in March 2022. Extensive experience in computer vision, automated machine learning, and AI training system design.
MS Computer Science - Beihang University
BS Math & Systems Science - Beihang University
Expertise: Computer vision, automated ML, AI training systems. Published papers on neural networks and deep learning.
R&D Focus Areas
📝
Text Models
LLMs, MoE, Linear Attention
🎬
Video Models
Hailuo AI, Video Gen
🎵
Audio Models
Speech, Music, TTS
⚙️
AI Infrastructure
Training & Inference
📱
Product Dev
Talkie, Apps, APIs
Core Team's Prior Experience
Microsoft
Google
Meta
Alibaba
ByteDance
DeepSeek
Source: MiniMax IPO Prospectus
Board Composition Upon Listing
Upon Listing, the Board will consist of nine Directors, including four executive Directors, two non-executive Directors and three independent non-executive Directors. The Board combines deep AI expertise from the founding team with strategic guidance from investors and independent governance from experienced professionals.
4
Executive Directors
Management team
2
Non-Executive Directors
Strategic investors
3
Independent NEDs
Governance & oversight
9
Total Directors
Diverse expertise
Board of Directors Summary
| Name | Age | Position | Joined | Type |
|---|---|---|---|---|
| Dr. Junjie Yan (闫俊杰) | 36 | Chairman, CEO & CTO | Dec 2021 | Executive |
| Ms. Yeyi Yun (云依依) | 31 | COO | Dec 2021 | Executive |
| Mr. Pengyu Zhao (赵鹏宇) | 29 | LLM R&D Leader | Aug 2023 | Executive |
| Mr. Yucong Zhou (周昱聪) | 32 | Visual Model R&D Leader | Mar 2022 | Executive |
| Mr. Yingjie Chen (陈映杰) | 48 | Senior Director, Alibaba Group | Jan 2025 | Non-Executive |
| Mr. Wei Liu (刘伟) | 38 | Co-Founder, miHoYo | Jan 2025 | Non-Executive |
| Mr. Guobin Huang (黄国滨) | 56 | Ex-MD JP Morgan, China Renaissance | Jan 2025 | Independent NED |
| Dr. Pengcheng Wang (汪鹏程) | 54 | Professor, Ex-EY Partner | Jan 2025 | Independent NED |
| Dr. Huaxing Zhu (朱华星) | 41 | Professor, Peking University | Jan 2025 | Independent NED |
Executive Directors
YJ
Dr. Junjie Yan (闫俊杰)
Chairman, CEO & CTO • Age 36
Founder of MiniMax in December 2021. Responsible for the Group's overall strategic development, business and operational management, and research and development. More than a decade of R&D experience. Published approximately 200 academic articles with over 30,000 citations.
PhD - Chinese Academy of Sciences
Post-Doc - Tsinghua University
BS Math - Southeast University
Prior: SenseTime VP, led R&D and product commercialization. Awards: Guangdong Tech Invention Award (2020), Wu Wenjun AI Awards (2019)
YY
Ms. Yeyi Yun (云依依)
COO • Age 31
Co-founder of MiniMax in December 2021. Responsible for research and development of AI-powered software applications, strategic partnerships and investments, and day-to-day business management. Extensive experience in natural language understanding and dialog system R&D.
MS Computer Science - Tsinghua University
BS Software Engineering - Nanjing University
Prior: SenseTime (2018-2021) - Product research and R&D of dialogue system. University of Montreal (2017-2018) - Visitor focused on NLU. Microsoft Research Asia - Research on NLU and ML algorithms.
PZ
Mr. Pengyu Zhao (赵鹏宇)
LLM R&D Leader • Age 29
Joined MiniMax as NLP researcher and engineer in August 2023. Responsible for research and development of large language models. Extensive experience in algorithm-related R&D with published papers on neural networks and reinforcement learning.
MS Computer Science - Peking University
BS Computer Science - Peking University
Prior: Beijing Hulu Technology (2020-2023) - Research Software Development Engineer responsible for recommendation algorithms
YZ
Mr. Yucong Zhou (周昱聪)
Visual Model R&D Leader • Age 32
Joined MiniMax as visual model researcher and engineer in March 2022. Responsible for research and development of visual models (Hailuo AI). Extensive experience in computer vision, automated machine learning, and AI training system design.
MS Computer Science - Beihang University
BS Math & Systems Science - Beihang University
Expertise: Computer vision, automated ML, AI training systems. Published papers on neural networks and deep learning.
Non-Executive Directors
YC
Mr. Yingjie Chen (陈映杰)
Non-Executive Director • Age 48
Appointed in January 2025. Currently serves as senior director at Alibaba Group and as director of multiple Alibaba-invested entities. Nominated by New Inspiration Limited, an affiliate of Alibaba Group.
MS Engineering - Tsinghua University
BS Optoelectronics - Tsinghua University
Prior: Alibaba Group (2011-present), Samsung China Semiconductor R&D (2002-2011)
WL
Mr. Wei Liu (刘伟)
Non-Executive Director • Age 38
Appointed in January 2025. Co-founder of Shanghai miHoYo Network Technology Co., Ltd. (creator of Genshin Impact and Honkai: Star Rail). Currently serves as chairman and president of miHoYo. Nominated by Dream Maker Enterprise Limited, an affiliate of miHoYo.
MS Computer Science - Shanghai Jiaotong University
BS Computer Science - Shanghai Jiaotong University
Founder of miHoYo: One of China's most successful gaming companies with global hits Genshin Impact and Honkai: Star Rail
Independent Non-Executive Directors
GH
Mr. Guobin Huang (黄国滨)
Independent NED • Age 56
Appointed in January 2025. Partner at China Renaissance Capital Investment (Aug 2023 - present). Former Managing Director at JP Morgan (2003-2021). Extensive experience in investment banking and capital markets with 25+ year career.
MBA - CKGSB
MBA (Exchange) - Kellogg
BS - Zhongshan University
Prior: JP Morgan MD (18 years), Managing Director at Deutsche Securities, Various senior investment banking roles
PW
Dr. Pengcheng Wang (汪鹏程)
Independent NED • Age 54
Appointed in January 2025. Associate Professor at Chinese University of Hong Kong (Shenzhen). Former Partner at EY Greater China. Currently serves as independent director of multiple HKEX-listed companies including Baidu, Inc. Extensive experience in accounting, tax, and financial advisory.
PhD Management - Shanghai Jiaotong University
MS Economics - Renmin University
FCPA Australia
Board Roles: Baidu Inc. (INED), Autohome Inc. (INED), JD Logistics (INED), Others. Prior: EY Greater China Partner (16 years)
HZ
Dr. Huaxing Zhu (朱华星)
Independent NED • Age 41
Appointed in January 2025. Tenured Professor at School of Physics at Peking University. Associate editor of Nature Communications. Recipient of the Outstanding Youth Science Foundation and various national/international awards. Published numerous papers in high-impact journals.
PhD Physics - Chinese Academy of Sciences
BS Physics - Peking University
Academic: Peking University (2015-present). Post-doc at Stanford University. Awards: Outstanding Youth Science Foundation, Chen Jiageng Young Scientist Award
Board Committees
Audit Committee
Chair: Dr. Pengcheng Wang
Members: Mr. Guobin Huang, Dr. Huaxing Zhu
Members: Mr. Guobin Huang, Dr. Huaxing Zhu
Remuneration Committee
Chair: Mr. Guobin Huang
Members: Dr. Junjie Yan, Dr. Pengcheng Wang
Members: Dr. Junjie Yan, Dr. Pengcheng Wang
Nomination Committee
Chair: Dr. Junjie Yan
Members: Mr. Guobin Huang, Dr. Huaxing Zhu
Members: Mr. Guobin Huang, Dr. Huaxing Zhu
Source: MiniMax IPO Prospectus
$600M+
Total Funding
Across all rounds
$2.5B
Valuation
Pre-IPO (2024)
10+
Key Investors
Including tech giants
Strategic Investors
T
Tencent Holdings
Strategic Investor
China's largest social media and gaming company. Provides strategic support including cloud infrastructure and distribution channels.
A
Alibaba Group
Strategic Investor
China's largest e-commerce company. Provides access to Alibaba Cloud infrastructure and enterprise distribution.
Lead Financial Investors
Hillhouse Capital
Lead Investor
Asia's largest tech-focused PE fund
IDG Capital
Lead Investor
Pioneer China VC firm
GSR Ventures
Investor
Leading China tech VC
Funding Timeline
Source: MiniMax IPO Prospectus, Crunchbase
Shareholding Structure (Pre-IPO)
The diagram below illustrates the shareholding structure of MiniMax immediately prior to the completion of the Global Offering. The company is controlled by co-founders Dr. Yan and Ms. Yun through their respective holding companies.
Ms. Yun
100% ↓
Apricity Investment Limited
Dr. Yan
100% ↓
Local Linearity
Shareholding in The Company (Pre-IPO)
| Shareholder | Controlled By | Ownership % |
|---|---|---|
| Other Pre-IPO Investors | Various institutional investors | 61.80% |
| Alpha EXP | — | 22.35% |
| MiniMax Gene | Employee incentive trust | 7.46% |
| MiniMax Awakening | — | 4.11% |
| Floating Sky | — | 2.50% |
| MiniMax Matrix | — | 1.79% |
| MiniMax Limited | MiniMax Awakening (100%) | 0.00001% |
| Total | 100.00% |
Key Subsidiaries (100% owned)
Shanghai Jizhi
China Operations
SUBSUP PTE. LTD
Singapore
NanoNoble PTE. LTD
Singapore
MiniMax HongKong
Hong Kong
Other subsidiaries
Various
China Operating Entities (via Shanghai Jizhi)
Beijing Jizhi
R&D center and technical operations for AI model development and training.
Shanghai MiniMax
Primary operating entity for China market, commercial operations and business development.
Notes:
(1) Other subsidiaries wholly owned by the Company
(2) All being indirectly wholly owned by the Company
(3) MiniMax Gene is managed by an independent professional trustee company for the benefits of eligible employees under the Company's share incentive plans
(4) For details on Floating Sky and Alpha EXP, refer to note 3 and note 12 in "Capitalization" section of the IPO Prospectus
(1) Other subsidiaries wholly owned by the Company
(2) All being indirectly wholly owned by the Company
(3) MiniMax Gene is managed by an independent professional trustee company for the benefits of eligible employees under the Company's share incentive plans
(4) For details on Floating Sky and Alpha EXP, refer to note 3 and note 12 in "Capitalization" section of the IPO Prospectus
Source: MiniMax IPO Prospectus
Disclaimer: This report is for informational purposes only and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.