Beijing ModelBest AI Technology Co., Ltd. (ModelBest AI) filed for IPO辅导备案登记 (IPO tutoring record-filing) with the Beijing Securities Regulatory Bureau on August 11, officially commencing its A-share listing process. CITIC Securities will be responsible for the tutoring. ModelBest AI, founded in 2022 and incubated by Tsinghua University, specializes in the MiniCPM series of edge-side large models, and its products have entered the supply chain for Samsung's flagship phones. The company has cumulatively raised over 5 billion RMB by the first half of 2026, with an estimated valuation exceeding 20 billion RMB.