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DeepSeek Engages CITIC Securities for IPO Preparation
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- DeepHorus
According to individuals familiar with the matter, Chinese artificial intelligence company DeepSeek has hired CITIC Securities as the advisory firm for its initial public offering (IPO), marking a substantive advancement in the highly anticipated AI startup's listing plans. Under China's A-share market listing rules, companies seeking to list typically need to complete a filing process under the guidance of a securities firm before formally submitting an issuance application. Currently, key details of this IPO, such as the specific amount of funds to be raised, the timeline, and the company's valuation, have not yet been finalized.
DeepSeek's pursuit of a listing is driven by its urgent need for substantial capital. The company requires funds to expand its computing infrastructure, invest in model research and development, and thereby retain its core R&D team. Earlier in July, reports indicated that DeepSeek was conducting a new funding round, with an expected valuation of 500 billion yuan (approximately 75 billion US dollars). In the previous funding round in June, the company had already secured about 7.4 billion US dollars in investment, pushing its valuation past 50 billion US dollars. This included a personal contribution of 20 billion yuan from founder Liang Wenfeng, as well as investments of 10 billion yuan from Tencent and 5 billion yuan from CATL.
Within China's AI industry, the race to go public is heating up. Peer companies Zhipu and MiniMax have already listed on the Hong Kong Stock Exchange this year, while Moonshot AI has secretly submitted its application for a Hong Kong listing. DeepSeek's decision to plan its listing at this time demonstrates its intention to seize the initiative in the intense competition of the capital market.
Regarding these market rumors, neither DeepSeek nor CITIC Securities immediately responded to media requests for comment. This prevents external parties from obtaining direct confirmation from the involved parties, and the authenticity of the market information remains to be further observed.
According to analysis by individuals familiar with the matter, founder Liang Wenfeng's motivation to push for the listing is primarily to raise funds through a STAR Market listing to provide more attractive equity incentive plans for core researchers. Currently, DeepSeek is facing severe talent competition pressure, with well-funded tech giants like ByteDance and Xiaomi frequently poaching its core R&D personnel with high salaries in recent times.
If successful, this IPO would provide DeepSeek with a stable long-term financing channel, enhancing its capital strength in the AI arms race. This would not only help the company expand its R&D scale but could also influence the competitive landscape of the entire Chinese AI industry.
Looking ahead, the details of DeepSeek's listing process are yet to be disclosed. The industry will closely monitor the progress of its advisory work, the specific fundraising scale, and the ultimately chosen listing board, as these factors will have a profound impact on its valuation and future development strategy.
