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TENCENT Reportedly Joins StepFun's USD2.5B Financing
StepFun is soon to wrap up a USD2.5 billion financing round, having dismantled its red-chip structure in preparation to expedite its Hong Kong IPO, sources divulged.TENCENT (00700....
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TENCENT Reportedly Joins StepFun's USD2.5B Financing
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StepFun is soon to wrap up a USD2.5 billion financing round, having dismantled its red-chip structure in preparation to expedite its Hong Kong IPO, sources divulged.

TENCENT (00700.HK)  +12.200 (+2.716%)    Short selling $1.32B; Ratio 9.930%   purportedly became a shareholder during StepFun's Series B financing and continued to participate in subsequent rounds.

Related NewsTENCENT (00700.HK) 1Q26 Non-IFRS Net Profit Up 11% YoY to RMB67.905 billion, In Line
The two parties recently further deepened their cooperation, with Tencent Cloud and StepFun inking a strategic partnership.

The collaboration will integrate StepFun's foundational large models with the Tencent ecosystem of content and applications to jointly develop AI cockpit agents.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-18 16:25.)

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