DeepSeek has engaged CITIC Securities to prepare for a potential initial public offering on Shanghai's STAR Market, with the brokerage already conducting due diligence, sources told 21st Century Business Herald. The companies have not signed a formal listing tutoring agreement. The effort adds to earlier Reuters reporting that the Hangzhou-based artificial intelligence startup aims to begin an IPO process this year, although the timetable, fundraising target and valuation have not been determined. DeepSeek also plans to formally release its V4.1 Flash model around September 10 Beijing time. The company said internal and external testing found V4.1 Flash outperformed V4 Pro in performance, cost, speed and total processing time. Before V4.1 Pro launches, DeepSeek plans to route V4 Pro requests to V4.1 Flash and charge V4.1 Flash unit prices. The listing preparations come as DeepSeek seeks capital for computing infrastructure, model development and talent retention amid intensifying competition in China's AI sector.