High-Flyer Quant, which bankrolled DeepSeek, has come to the fore, making a push into new listings as it chases returns in China's red-hot IPO market.

Landmark round to lift Chinese start-up’s valuation to US$74 billion and set the stage for a Shanghai Star Market listing, sources say.

DeepSeek is finalizing a funding round valuing the AI start-up at 500 billion yuan, as it prepares for a potential 2027 listing on Shanghai's Star Market.