It is reported that DeepSeek has hired CITIC Securities to provide listing guidance and sprint for the IPO.

Abstract:

On September 9, according to Reuters, DeepSeek has hired CITIC Securities as a coaching institution to prepare for its initial public offering (IPO) on the Shanghai Stock Exchange's Science and Technology Innovation Board. Hangzhou-based DeepSeek plans to officially launch the listing process within this year.

Hiring CITIC Securities for listing guidance means that DeepSeek’s listing plan is making substantial progress. Under the A-share listing rules, companies planning to be listed usually need pre-listing guidance and filing by securities firms before they can formally submit an IPO application. However, the specific fundraising scale, listing timetable and target valuation have not yet been finalized.

In response to the above news, neither DeepSeek nor CITIC Securities immediately responded to media requests for comment.

In order to raise huge investment in computing infrastructure, model research and development funds and retain core research and development talents, DeepSeek is in urgent need of additional capital. It was previously reported in July this year that DeepSeek was conducting a new round of financing and was expected to be valued at 500 billion yuan (approximately US$75 billion). In the last round of financing in June this year, the company completed approximately US$7.4 billion in financing, with a valuation exceeding US$50 billion. At that time, founder Liang Wenfeng personally invested 20 billion yuan, and Tencent and CATL also injected 10 billion yuan and 5 billion yuan respectively, becoming its largest external shareholders.

Prior to this, Zhipu and MiniMax have been listed in Hong Kong this year, and Dark Side of the Moon has also secretly submitted an application for listing in Hong Kong.

Informed sources added that founder Liang Wenfeng hopes to provide more attractive equity incentives for core researchers with the funds raised through listing on the Science and Technology Innovation Board. Due to frequent high-paying poaching by well-funded technology giants such as ByteDance and Xiaomi, DeepSeek is facing serious pressure from brain drain.