DeepSeek has appointed Yan Wentao as its first chief financial officer, according to a report from Touzijie. According to ChainCatcher, Yan joined the company on Monday and has reported for duty.

Yan was born in 1991, graduated from Fudan University, and joined Hillhouse Ventures in 2020. He previously worked on projects including MiniMax, Zhipu AI, and ByteDance.

The report also said DeepSeek is finalizing its second funding round, aiming to raise 50 billion yuan at a pre-investment valuation of 500 billion yuan. It has also hired CITIC Securities to prepare for a potential STAR Market initial public offering.