On July 17, it was reported that on the evening of July 16, Korrun Co., Ltd. announced that its wholly-owned subsidiary, Ningbo Purun, had subscribed for a stake in Tianjin Lixixingling Venture Capital Partnership Enterprise with 40 million yuan, and the fund had fully paid in 2.9 billion yuan. The underlying investment target of Lixixingling is Hangzhou Deepseek AI Foundation Technology Research Co., Ltd. (DeepSeek), with Korrun holding a 0.0114% stake after penetrate (penetration, here meaning attributable) ownership calculation, representing a financial investment. Based on the data from Korrun's announcement, DeepSeek's post-round financing valuation is estimated to be approximately 350.877 billion yuan. Meanwhile, By-Health also indirectly holds a 0.04% stake in DeepSeek through Lixixingling, calculating to a valuation of approximately 325 billion yuan. The discrepancy between the two figures may stem from differences in decimal precision or the involvement of different intermediate investment institutions. Additionally, DeepSeek has initiated its second round of financing, planning to raise at least 10 billion yuan more in the private market and preparing for an A-share IPO.