Chinese AI Startup StepFun Moves to Restructure Ahead of Hong Kong IPO

Author: Zayneb ElasraouiPublished on: April 14, 2026Country: China

Technology

Chinese AI Startup StepFun Moves to Restructure Ahead of Hong Kong IPO

Chinese AI startup StepFun, founded in 2023 by Jiang Daxin, is restructuring its corporate setup to comply with new regulatory guidance from Beijing. The company, backed by state-linked investors and major players like Tencent, is shifting towards an onshore structure to better align with its state-backed ownership. This decision comes as Hong Kong's equity market regains momentum, attracting growing interest in AI companies.

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