New Stock News | INTSIG plans to list on the Hong Kong Stock Exchange, and the China Securities Regulatory Commission requires additional explanation on the reasons for the company's and its subsidiaries' participation in financial derivatives trading

According to the Zhitong Finance APP, on September 5, the China Securities Regulatory Commission (CSRC) announced the "Supplementary Material Requirements for Overseas Issuance and Listing Filing (August 29, 2025 - September 4, 2025)," in which the International Department of the CSRC issued supplementary material requirements for 12 companies. Among them, it requires INTSIG to provide additional explanations regarding the reasons, specific business content, scale, and compliance of its subsidiaries Shanghai Linguan and Shanghai Youguan's participation in financial derivatives trading. It is reported that on June 26, 2025, INTSIG submitted a listing application to the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. The CSRC requests INTSIG to supplement the following matters and asks the lawyer to verify and provide clear legal opinions: Regarding business operations: (1) Please explain the specific situation of the business scope of the company and its subsidiaries Shanghai Shengteng and Shanghai Linguan, which includes "advertising design, production, agency, and publication," whether they actually carry out related businesses and the specific operational situation, whether they have obtained the necessary qualifications and licenses, and explain whether the business scope and actual operations of the company and all subsidiaries involve the restrictions or prohibitions on foreign investment fields in the "Special Management Measures for Foreign Investment Access (Negative List) (2024 Edition)"; (2) Please explain the specific content of the value-added telecommunications business engaged in by the company and its subsidiaries Shanghai Linguan, Shanghai Shengteng, Shanghai Yingwuxu, and Shanghai Quanyinghui, the upper limit of foreign shareholding ratio, and the specific basis for continuously complying with foreign investment access policy regulations before and after this issuance and listing. Regarding standardized operations: (1) Please explain the situation of the company and its subsidiaries in developing and operating websites, mini-programs, apps, public accounts, etc., the scale of user information collected and stored, data collection and usage situation, whether there is any data transmission to overseas or provision of information content to third parties, the types of information content provided, and the information content security protection measures; (2) Please explain the specific situation of the company and its subsidiaries engaging in products such as Qixinbao and Qixin Huiyan and corporate credit services, whether they have obtained qualifications for conducting financial-related businesses; if the company and its subsidiaries engage in other financial businesses, please explain whether they have obtained relevant business qualifications and the content and scale of the business; (3) Please explain the reasons, specific business content, scale, and compliance of the company and its subsidiaries Shanghai Linguan and Shanghai Youguan's participation in financial derivatives trading. The prospectus shows that INTSIG is a global leader in artificial intelligence products. Since its establishment, the company has been committed to empowering through AI technology innovation, providing products to hundreds of millions of users and diversified industry clients worldwide, and has become a leader in global multimodal large model text intelligence technology. The company's business has covered over 200 countries and regions worldwide. According to ZhiShi Consulting, among the companies with over 100 million monthly active users (MAU) of efficiency-type AI products globally in 2024, based on the revenue of corresponding products, INTSIG ranks first in China and fifth globally, maintaining a strong growth momentum