On August 6, Yushu Technology Co.,Ltd. (688836.SH) announced that its initial public offering on the STAR Market is priced at 150.80 yuan per share. Based on the total share capital after the offering, the issuance price corresponds to a total market value of 60.993 billion yuan. The company is issuing 40,446,434 shares, representing 10% of the total share capital post-issuance. The price-to-earnings ratio for the issuance is 219.23 times, with expected total proceeds of approximately 6.099 billion yuan.
The disclosure indicates that the strategic placement totals 8,089,286 shares. Liang Wenfeng's Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. (DeepSeek) has secured a strategic allocation in Yushu Technology Co.,Ltd., with a total amount exceeding 140 million yuan. The shares are subject to a lock-up period of 36 months (3 years). Tencent's Shanghai Qishan Investment Co., Ltd. is classified as a "large enterprise with strategic business cooperation or long-term collaboration intentions with the issuer."
Other participants in this strategic placement include China National Petroleum Corporation's Kunlun Capital Co., Ltd., Southern Power Grid Industry and Finance Holding Group Co., Ltd., and China Telecom's Tianyi Capital Holdings Co., Ltd. The announcement states that the introduction of strategic investors provides conditions for in-depth research and development with the issuer. Bringing in leading large model companies can focus on AI large model and embodied intelligence-related technology research and product development, aiming to integrate the technical strengths of both parties. This effort seeks to enhance the embodied intelligence robots' ability to understand complex scenarios and generalizable capabilities, jointly advancing the technological development of general artificial intelligence.
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DeepSeek, Led by Liang Wenfeng, Secures Strategic Placement in Yushu Technology, Exceeding 140 Million Yuan with a 3-Year Lock-Up
Deep News08-06
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