云天励飞拟港股上市 中国证监会要求补充说明业务经营范围等情况

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 11 companies, including Yuntian Lifei, regarding their overseas listing applications, focusing on compliance with foreign investment policies and operational details [1][2]. Group 1: Company Operations - Yuntian Lifei is required to clarify its business scope, specifically regarding its operations in value-added telecommunications, electronic publishing, economic information consulting, and advertising, ensuring compliance with foreign investment restrictions [2][3]. - The company must provide a detailed explanation of its business model and the specifics of its large model applications, including whether it has completed the necessary registrations [2]. Group 2: Regulatory Compliance - Yuntian Lifei is instructed to confirm whether it and its subsidiaries are in compliance with the prohibitive conditions for overseas issuance and listing as outlined in the relevant regulations [3]. - The company must detail its operational compliance, including the status of its major subsidiaries and any involvement in developing websites, apps, or other digital products, along with user data protection measures [2][3]. Group 3: Financial Performance - Yuntian Lifei reported revenues of approximately 546 million RMB, 506 million RMB, 917 million RMB, 98.448 million RMB, and 264 million RMB for the years 2022, 2023, 2024, and the first three months of 2025, respectively [3]. - The company experienced losses of approximately 448 million RMB, 384 million RMB, 572 million RMB, 13.8 million RMB, and 85.801 million RMB during the same periods [3].