
DeepSeek said to prepare for Star Market IPO with CITIC Securities as tutor
The potential listing comes after China expanded the STAR Market’s so-called fifth listing standard in June to cover AI companies.

The potential listing comes after China expanded the STAR Market’s so-called fifth listing standard in June to cover AI companies.

The IPO gives Grascent capital to expand high-end fragrance production, upgrade factory automation and invest in new products and technologies.

Xiaohongshu’s statement, issued more than a month after the rumors began circulating, addressed only the IPO speculation and did not comment on the allegations.

DeepSeek reportedly generates annualized revenue of $400 million to $500 million, with gross margins exceeding 50% on its flagship API business.

The IPO has attracted 14 cornerstone investors, who have collectively committed about $376 million and will subscribe to nearly half of the shares on offer.

Four of the 14 Jiangsu companies that have listed on China’s A-share market this year come from the semiconductor industry.

Zhejiang’s province-wide total reached 13 listings and 9.94 billion yuan in fundraising during the first five months of the year.

The progress makes it the latest among the so-called “Hangzhou Six Dragons” to move toward public markets.

The company has developed an end-to-end platform covering design, validation, algorithms, testing and mass production, allowing it to deliver system-level solutions across braking, steering and motion control.

During over-the-counter (OTC) trading the day before the company went public, shares had already leaped 169.29% to HK$20.52, signaling strong pre-debut momentum.