China’s DeepSeek taps CITIC Securities for domestic IPO

Chinese artificial intelligence startup DeepSeek has tapped CITIC Securities to prepare for an initial public offering on Shanghai’s tech-focused STAR Market, two people with knowledge of the matter said.

The Hangzhou-based company aims to begin the IPO ‌process this year, the people ⁠said, ⁠speaking on condition of anonymity because the discussions are private.

DeepSeek’s engagement of CITIC, which has not been reported so far, is an indication that the ​startup is moving along in its IPO plan. Companies seeking a mainland China listing typically appoint securities firms to conduct pre-listing tutoring ​before submitting an application.