VCG (000681.SZ): CSRC seeks supplementary filing materials on litigation, AI model compliance and use of proceeds

NewTimeSpace News: On October 23, 2026, the International Cooperation Department of the CSRC disclosed the supplementary materials requirements for overseas offering and listing filing issued to four companies for the period from October 19 to 23, including Visual China Group Co., Ltd. (000681.SZ), which must provide supplementary explanations on four matters, with its lawyers to verify and issue clear legal opinions.

The inquiry requires an explanation of the latest progress of the Company's pending litigation, whether such circumstances will materially and adversely affect its future operations, whether they constitute a substantive obstacle to the offering, and whether the pending litigation has been fully disclosed; it also requires an explanation of the performance of regulatory procedures such as overseas investment and foreign exchange registration for the establishment of overseas subsidiaries.

The inquiry further requires an explanation of whether the Company is involved in artificial intelligence fields such as AI large models and whether it complies with the Administrative Measures for Generative Artificial Intelligence Services; and an explanation of the necessity and reasonableness of the Hong Kong listing in light of the use of proceeds.