DeepSeek reportedly hires CITIC Securities for Shanghai STAR Market IPO
DeepSeek, a Chinese AI startup based in Hangzhou, has reportedly engaged CITIC Securities to prepare for an initial public offering on Shanghai’s STAR Market. The company aims to commence the IPO process this year, according to sources familiar with the matter cited by Reuters. While companies seeking a mainland China listing typically appoint a securities firm for pre-listing tutoring, the specific timing of a potential offering, the amount to be raised, and the target valuation have not yet been determined. Neither DeepSeek nor CITIC Securities have commented on the reports.
DeepSeek's reported move toward a Shanghai STAR Market IPO reflects a broader trend of Chinese AI startups seeking public capital to fund their ambitious growth plans. The engagement of CITIC Securities for pre-listing tutoring suggests a serious intent to navigate China's stringent listing requirements, even as the company remains tight-lipped about the specifics of the offering. This development positions DeepSeek to potentially join other prominent Chinese tech firms on the STAR Market, a venue designed to support innovative, high-growth enterprises. The key thing to watch is the valuation DeepSeek can command, especially given the current global investor sentiment toward AI and the competitive landscape in China. A successful listing would provide a significant capital injection, enabling DeepSeek to further invest in research and development, attract top talent, and expand its market share against both domestic and international competitors in the AI space. However, the lack of immediate comment from either party means the timeline and scale of this IPO remain speculative for now.
Related reading
6 stories
Chinese AI firm DeepSeek taps underwriters including Citic Securities for IPO: sources
Our earlier reporting also highlighted DeepSeek's engagement of underwriters, including Citic Securities, for its IPO.
DeepSeek V4.1 Flash Set to Launch Around September 10, Reportedly Surpassing V4 Pro
We previously covered DeepSeek's upcoming V4.1 Flash launch, reportedly set to surpass its V4 Pro model.
People’s Daily rejects US claims of malicious AI distillation, warns of countermeasures
ByteDance’s AI-enhanced short-drama app eclipses China’s Netflix rivals combined
HSBC Gives Wealthy Singapore Clients Access to Private Markets
