曾于A股三次辅导备案无果而终，智慧互通转战港股遭追问

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 13 companies, including Wisdom Interconnect, which is preparing for an IPO on the Hong Kong Stock Exchange [1] Group 1: Company Overview - Wisdom Interconnect is a leading provider of artificial intelligence technology and spatial intelligent solutions in mainland China, particularly focused on urban traffic management [4] - According to Frost & Sullivan, Wisdom Interconnect ranks fourth in the mainland smart traffic industry with a market share of 6.6% and first in spatial intelligent roadside solutions with a market share of 19.3% as of 2024 [4] Group 2: Financial Performance - The company's revenue increased from 538 million yuan in 2022 to 699 million yuan in 2024, but it has faced significant losses, totaling 905 million yuan over three years [4] - In the first half of 2025, the company reported a further loss of 273 million yuan, with revenue declining from 210 million yuan in the same period of 2024 to 103 million yuan [5] Group 3: IPO Preparation and Regulatory Requirements - Wisdom Interconnect submitted its prospectus to the Hong Kong Stock Exchange on October 31, 2025, after five years of planning and three previous attempts at IPO preparation [5] - The CSRC has requested detailed explanations regarding the company's AI model applications, advertising business model, and the status of pending litigation, among other regulatory compliance matters [2][3]