DeepSeek Accelerates IPO Process on STAR Market – CITIC Securities Likely as Sponsoring Institution for Listing
Article excerpt
DeepSeek founder Liang Wenfeng. The image was edited with AI. On September 9, foreign media reported that Hangzhou-based AI company DeepSeek has selected CITIC Securities to comprehensively prepare all matters related to its listing on the Sci-Tech Innovation Board (STAR Market). According to two informed sources, the company is expected to officially submit its IPO application documents this year, thereby initiating the crucial capitalization process. Previously, foreign media reported that DeepSeek's total valuation would rise to 75 billion US dollars after the completion of its new financing round. According to information from Tencent Technology from several individuals familiar with the company's capital market activities, the company's latest valuation is 500 billion Yuan. Informed sources told Tencent Technology that DeepSeek had previously advanced its work for a STAR Market listing and had established contact with several leading securities firms, such as CITIC Securities, regarding cooperation for the listing sponsorship. Tencent Technology asked CITIC Securities for confirmation on the information about the listing preparations; the other party stated that there is no response for now. A capital market industry insider analyzed to Tencent Technology: Based on DeepSeek's current valuation of 500 billion Yuan, the company's total market capitalization after listing...
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The speed of commercial implementation is steadily accelerating; however, the company also recorded a net profit loss of 715 million Yuan during the same period.
