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<IPO>'AI Six Tigers' Member StepFun Said to Complete ~USD2.5B Financing, Sprinting for HK IPO
StepFun, a domestic large model company and one of the "AI Six Tigers", is set to complete nearly USD2.5 billion in financing, Chinese news broke. The company had earlier...
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<IPO>'AI Six Tigers' Member StepFun Said to Complete ~USD2.5B Financing, Sprinting for HK IPO
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StepFun, a domestic large model company and one of the "AI Six Tigers", is set to complete nearly USD2.5 billion in financing, Chinese news broke.

The company had earlier dismantled its red-chip structure to accelerate preparations for a Hong Kong IPO, and may become another domestic large model company seeking listing in Hong Kong following KNOWLEDGE ATLAS (02513.HK)  +310.000 (+36.905%)    Short selling $35.61M; Ratio 1.000%   and MINIMAX-W (00100.HK)  +127.500 (+18.465%)    Short selling $43.95M; Ratio 2.207%   .

Related News UOB Kay Hian: AI Cloud Top Sub-sector in China Internet; BABA-W (09988.HK) Preferred
Apart from financial investors, multiple companies across the mobile phone and consumer electronics supply chain, including ZTE (00763.HK)  +0.500 (+1.895%)    Short selling $14.80M; Ratio 3.578%   , have taken part, covering various segments from device manufacturing to upstream core components, report said.

StepFun also purportedly intends to list in Hong Kong within the year, aiming to raise about USD500 million, having discussed with potential advisors.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-13 16:25.)

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