TMTPOST — Chinese artificial intelligence unicorn Shanghai Jieyue Xingchen Intelligent Technology, commercially known as StepFun, has established a wholly owned subsidiary on Monday to scale its application layer and systems integration business. The newly formed entity, named Shanghai Qiyue Xingchen Intelligent Technology, has been capitalized with a registered capital of RMB 10 million ($1.38 million) and is legally represented by Ni Jiahong. Corporate registration filings show its operational scope spans the deployment of artificial intelligence application software, system integration services, and the commercialization of proprietary algorithm frameworks, functioning as a dedicated downstream execution arm for its parent company’s core foundation models. The structural expansion underscores a tactical pivot among the domestic market's top-tier generative AI developers toward commercial integration and revenue generation. Rather than relying solely on raw computational capabilities, major large language model developers on the Chinese mainland are increasingly forming tailored commercial entities to capture enterprise-level application workflows and software deployment contracts within specialized industrial and corporate sectors.