ModelBest originated in a natural-language-processing lab at Tsinghua University and was formally established in August 2022. Photo: VCG

ModelBest originated in a natural-language-processing lab at Tsinghua University and was formally established in August 2022. Photo: VCG 12.08.2026

ModelBest, formally known as Beijing Mianbi Intelligent Technology Co. Ltd., has begun pre-IPO tutoring with Beijing’s securities regulator as it prepares for a domestic listing on the Shanghai STAR Market. This move could make it the first large language model developer to pursue a listing under the STAR Market’s special regime for unprofitable technology companies, underscoring regulators’ broader effort to support domestic AI developers that can demonstrate commercial scale. The company originated from a natural-language-processing lab at Tsinghua University and was formally established in August 2022.

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