Summary of Key Points Core Viewpoint - Visual China is entering into a guarantee agreement with Hangzhou Bank to support its wholly-owned subsidiary, Beijing Huaxia Visual Technology Group, with a maximum financing amount of 50 million RMB [1][3]. Group 1: Guarantee Overview - The company will provide a joint liability guarantee for the debts incurred by its subsidiary under the financing contract with Hangzhou Bank [1]. - The total guarantee amount for Beijing Huaxia Visual Technology Group is set at 100 million RMB, with similar amounts allocated for two other subsidiaries, Hanhua Yimei (Tianjin) Image Technology Co., Ltd. and Hanhua Yimei Visual Technology Co., Ltd. [2]. - The authorization period for the guarantee is twelve months from the approval date at the 2024 annual shareholders' meeting [2]. Group 2: Financial Data of the Subsidiary - As of December 31, 2024, Beijing Huaxia Visual Technology Group reported total assets of 1.75 billion RMB and total liabilities of 1.23 billion RMB [3]. - The subsidiary's operating income was approximately 489.8 million RMB, with a total profit of 56.9 million RMB [3]. Group 3: Guarantee Agreement Details - The guarantee is structured as a joint liability guarantee, covering all principal, interest, penalties, and related costs associated with the financing [3]. - The guarantee period for each financing transaction will be calculated separately, lasting three years from the debt fulfillment deadline [3]. Group 4: Total Guarantee Amount - The total authorized guarantee amount approved by the shareholders' meeting is 413.315 million RMB, which includes 300 million RMB for new guarantees and 113.315 million RMB from previous years [5]. - After this guarantee, the total outstanding guarantee amount for subsidiaries will be 163.315 million RMB, which does not involve any litigation or losses due to guarantees [5].

证券日报网讯 7月29日晚间，视觉中国（000681）发布公告称，公司不存在逾期担保，不存在涉及诉讼 的担保及因担保被判决败诉而应承担损失的情形。 ...

1. 担保事项的基本情况 近日，视觉（中国）文化发展股份有限公司（以下简称"公司"或"视觉中 国"）全资子公司北京华夏视觉科技集团有限公司（以下简称"子公司"或"北 京华夏"）拟与杭州银行股份有限公司北京房山支行（以下简称"杭州银行"）签 订银行融资合同，最高融资余额人民币伍仟万元整，公司与杭州银行签订《最高 额保证合同》，为子公司在杭州银行融资合同项下所欠所有债务承担连带责任保 证。 2. 担保额度的审批情况 2025 年 4 月 23 日，公司第十届董事会第二十二次会议审议通过了《关于 2025 年度公司对子公司担保额度预计的议案》，同意公司对全资子公司提供担保， 其中为北京华夏视觉科技集团有限公司提供担保额度为人民币 10,000 万元，为 汉华易美（天津）图像技术有限公司提供担保额度为人民币 10,000 万元，为汉华 易美视觉科技有限公司提供担保额度为人民币 10,000 万元，上述担保额度可在 子公司之间进行调剂。上述担保授权期限为自 2024 年年度股东大会审议通过该 议案之日起十二个月内。该议案经公司 2024 年年度股东大会审议通过。详见公 司分别于 2025 年 4 月 24 日、2025 ...

Core Viewpoint - Visual China is accelerating its AI strategy by introducing investment from the Longgang Fund to enhance its AI-related business, particularly through its subsidiary Shenzhen Elephant, amid challenges in traditional image business due to rapid AIGC development [1][2][3] Group 1: Investment and Strategic Moves - Visual China plans to raise 100 million yuan for Shenzhen Elephant, with 10 million yuan added to registered capital and 90 million yuan to capital reserves [2] - The Longgang Fund, a state-owned entity, will hold 9.09% of Shenzhen Elephant, which focuses on AI technology development and applications [2][3] - The investment aims to integrate resources and foster collaboration in AI technology, enhancing the company's strategic development in "AI intelligence + content data + application scenarios" [2][4] Group 2: Financial Performance - In 2024, Visual China reported revenue of 811.2 million yuan, a growth of 3.89%, significantly down from 11.94% the previous year [6] - The company experienced a net profit decline of 18.17%, with a non-GAAP net profit growth of only 3.8%, compared to 12.22% in the prior year [6] - Revenue in 2024 is down 17.9% compared to the peak in 2018, and non-GAAP net profit has decreased by 66% since then [6] Group 3: Business Transformation and AI Integration - Visual China is transitioning from a cultural media company to a cultural technology enterprise, focusing on content and technology [3] - The company has made several acquisitions to expand its content ecosystem, including a 31.6% stake in the audio-visual material trading platform Guangchang Creative [3] - AI-related revenue from new business initiatives is currently only 2.22% of total revenue, despite significant investments in AI technology [7][8] Group 4: Operational Challenges - The company's overall gross margin has been declining, with a drop from 63.52% in 2020 to 46.81% in 2024 [6][8] - The main business, which accounts for over 99% of revenue, includes content licensing, customization, and AI-enabled applications, but has faced rising operational costs [6][8] - The gross margin for the main business decreased by 8.71% in 2024, indicating a significant reduction in profitability [8]

证券代码：000681 证券简称：视觉中国 公告编号：2025-035 视觉（中国）文化发展股份有限公司（以下简称"公司"或"本公司"）于近日 收到股东吴玉瑞女士的通知，获悉吴玉瑞女士所持本公司股份解除质押，依据《深 圳证券交易所股票上市规则》《上市公司信息披露管理办法》及《公司章程》要 求，对具体事项公告如下： 一、股东股份解除质押的基本情况 | 股东 | 是否为控股股 东或第一大股 | 本次解除质押 股份数量（万 | 占其所持股 | 占公司总 | 质押起始日 | | 解除质押日 | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 东及其一致行 | | 份比例 | 股本比例 | | | | | | | | | 股） | | | | | | | | | | 动人 | | | | | | | | | | 吴玉瑞 | 是 | 1871.00 | 24.33% | 2.67% | 2024 年 月 | 7 | 2025 年 月 | 7 | 国元证券股 | | | | | | | 日 18 | | 日 18 | ...

Summary of Visual China Conference Call Company Overview - **Company**: Visual China - **Industry**: Content copyright trading and AI technology application Key Points and Arguments AI Technology and Business Transformation - Visual China has significantly enhanced traditional content copyright trading through AI multi-dimensional data labeling, improving search conversion rates and accelerating material consumption for annual users [2][4] - The company has integrated AI generation and editing capabilities into its inspiration creative platform, providing compliant materials and copyright protection for B-end clients, with positive customer feedback on recent orders [2][6] - The video platform "Square" has partnered with leading domestic video platforms to implement new models for seamless video proposals, with expectations for increased growth in the second half of the year [2][7] Revenue Growth and Market Position - Visual China's content production has seen a remarkable increase, with over 75% growth in the first half of 2025, driven by collaborations with major clients like Huawei and the Shenzhen Longgang government [4][13] - The AI PPT project has gained significant traction, ranking second globally and first domestically, with an expected growth of over 30% this year [4][11] - The company anticipates a positive overall growth trend compared to last year, particularly in advertising and automotive sectors [4][18] Partnerships and Collaborations - Visual China collaborates with top data labeling companies like Haitan and Data Hall to provide high-end video and image data, enhancing revenue through multi-modal data licensing [2][10] - The company is exploring copyright protection services in partnership with major video platforms, addressing commercial copyright issues for professional creators [2][9] Customer Engagement and Market Strategy - The company maintains a stable user base of approximately 30,000 for traditional usage, with a renewal rate exceeding 90% [4][17] - Future growth is expected to focus on advertising and automotive sectors, leveraging capital strategies to penetrate the automotive market [4][17] Financial and Operational Insights - Visual China is currently in a transitional phase, with some clients moving from trial to paid services, although detailed revenue figures for 2025 are not yet available [4][8] - The company aims to optimize its business across two main platforms and the video site "Square" to meet market demands and enhance user experience [4][8] Future Outlook - The company plans to focus on overseas expansion and ToC application opportunities, with potential collaborations with large companies that align with its visual business [4][20] - There are no immediate plans for new share reductions from major shareholders, and the company is closely monitoring the market for potential partnerships [4][16] Miscellaneous - Visual China has no current plans for stablecoin initiatives, as its original NFT company continues to operate in related areas [4][19] - The company is assessing the commercial potential of partnerships with large model companies for copyright material access, focusing on compliance and quality improvement [4][21]

Core Viewpoint - The company, Vision China Cultural Development Co., Ltd., has approved a related party transaction involving a lease agreement with Beijing Hongruida Technology Co., Ltd. to secure office space for its long-term operational needs [1][2]. Summary by Sections Related Party Transaction Overview - The company plans to lease a total area of 3,335.8 square meters located at No. 10 Jia, Jiuxianqiao North Road, Chaoyang District, Beijing, for a period of three years from July 1, 2025, to June 30, 2028 [1][4]. - The annual rent is set at RMB 5,479,051.50, totaling RMB 16,437,154.50 over the lease term [1][5]. - Additional costs include property service fees of RMB 4,151,903.47 and other operational expenses, bringing the total transaction amount to a maximum of RMB 23,469,057.97 [1][5]. Related Party Information - Beijing Hongruida Technology Co., Ltd. is a wholly-owned subsidiary of China Intelligent Transportation Systems (Holdings) Limited, with the company's chairman, Mr. Liao Jie, serving as the chairman of the board for the parent company [2][4]. - The company has confirmed that the transaction does not constitute a major asset restructuring as defined by relevant regulations [2][4]. Financial Data of Related Party - As of December 31, 2024, Hongruida Technology reported total assets of RMB 250.98 million and net assets of RMB 206.67 million, with an annual revenue of RMB 18.29 million and a net profit of RMB 2.88 million [2][3]. Pricing Policy and Basis - The pricing for the lease was determined based on market rates and mutual agreement, ensuring fairness and compliance with commercial norms [4][6]. Purpose and Impact on the Company - The transaction is aimed at supporting the company's operational needs and is expected to have no adverse effects on its financial status or operational results [5][6]. - The company maintains that it will not become dependent on the related party due to this transaction, preserving its independence [5][6]. Independent Directors' Opinion - The independent directors unanimously agreed that the lease agreement is necessary for the company's operations and adheres to principles of fairness and reasonableness, ensuring no significant negative impact on the company's financial health [6][7].

Core Points - The independent directors of Vision (China) Cultural Development Co., Ltd. held a special meeting on June 27, 2025, to review a housing lease contract and related party transaction [1][2] - The transaction involves Hongruida Technology, a wholly-owned subsidiary of China Intelligent Transportation Systems (CITS), where the company's chairman, Liao Jie, is also the chairman of CITS and holds shares indirectly [1] - The independent directors concluded that the lease transaction is necessary for the company's operations and complies with relevant laws and regulations, ensuring no significant adverse impact on the company's financial status or operational results [2] Summary by Sections - **Meeting Details** - The meeting was conducted via communication, with all independent directors present and participating in the voting process [1] - The meeting adhered to the procedures outlined in the relevant regulations and company rules [2] - **Transaction Overview** - The housing lease and related party transaction were deemed fair and reasonable, following principles of equality, voluntariness, equivalence, and compensation [1] - The independent directors confirmed that the transaction does not harm the interests of the company or its shareholders, particularly minority shareholders [2] - **Approval Process** - The independent directors agreed to submit the proposal for the related party transaction to the company's 11th board of directors for further review [2]

Group 1 - The company plans to sign a lease agreement and property service contract with Beijing Hongruida Technology Co., Ltd. for office space in Beijing, covering an area of 3,335.8 square meters [1][2] - The new lease will replace a previous agreement signed on October 31, 2022, which covered an area of 2,793.71 square meters [1] - The lease term for the new agreement is three years, from July 1, 2025, to June 30, 2028, with an annual rent of RMB 5,479,051.50, totaling RMB 16,437,154.50 over the lease period [2] Group 2 - The property management fee during the renovation period (July 1, 2025, to September 30, 2025) is RMB 803,594.22, and from October 1, 2025, to June 30, 2028, it will total RMB 3,348,309.25 [2] - Additional costs include electricity and maintenance fees capped at RMB 500,000.00 per year, and various rental fees for facilities not exceeding RMB 100,000.00 and RMB 360,000.00 per year respectively [2] - The total transaction amount for the lease agreement, including rent, property service fees, electricity, and other rental fees, will not exceed RMB 23,469,057.97 [2]

北京市朝阳区酒仙桥北路甲 10 号院 204 号楼 2 层/3 层 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 视觉（中国）文化发展股份有限公司（以下简称"公司"或"视觉中国"）根据 经营发展需要，近日迁至新的办公地址，现将公司办公地址变更情况公告如下： 变更前： 北京市朝阳区酒仙桥北路甲 10 号院 204 号楼 2 层东区/5 层 变更后： 证券代码：000681 证券简称：视觉中国 公告编号：2025-034 视觉（中国）文化发展股份有限公司 关于变更公司办公地址的公告 除上述办公地址变更外，公司其他联系方式保持不变。本次变更后，公司最 新联系方式如下： 办公地址：北京市朝阳区酒仙桥北路甲 10 号院 204 号楼 2 层/3 层 邮政编码：100015 投资者联系电话：010-64376780 董事会办公室传真：010-57950213 电子邮箱：000681@vcg.com 敬请广大投资者注意公司办公地址变更事项。 特此公告。 视觉（中国）文化发展股份有限公司 董 事 会 二〇二五年六月三十日 ...