[DeepSeek's Financing Shares in High Demand, Some Channels Charging High Fees] According to *Caijing* reports, DeepSeek's financing shares have seen intermediary channels charging a front-end fee of 18% and a back-end fee of 35%. For an investor contributing ¥1 billion, a front-end fee of ¥180 million must be paid upfront. The related investment comes with a five-year lock-up period, and external investors only share financial returns proportionate to their contributions. DeepSeek requires a thorough identity verification of the limited partners behind the contributing funds. The market has seen issues such as fake shares and intermediary misconduct, with some institutions raising funds but failing to make it onto the final investment list. DeepSeek has restarted its second round of financing, aiming to raise ¥50 billion, with a pre-investment valuation of approximately ¥500 billion.