According to on-chain research firm Beating, business registration information shows that the operating entity of DeepSeek has added Hangzhou Chengli and the National Artificial Intelligence Industry Investment Fund as shareholders. The registered capital has increased from ¥15 million to ¥16.4475 million.
The National Artificial Intelligence Industry Investment Fund directly holds approximately 0.28% of the shares. Hangzhou Chengli holds about 8.52% and is a shareholding platform used jointly by other investors.
Tencent holds over 33% of Hangzhou Chengli. CATL, JD.com, Netease, IDG, Monolith, ShiXiang, and Zhengxin Valley are also on the shareholder list. The percentages here refer to the investment in Hangzhou Chengli and not direct ownership of DeepSeek.
