New Stock News | Visual China Group (000681.SZ) submits listing application to Hong Kong Stock Exchange, ranking first in China's visual content licensing service market.

According to the disclosure by the Hong Kong Stock Exchange on June 14th, Visual China Group (000681.SZ), which is Visual China (China) Cultural Development Co., Ltd., submitted an application to the Hong Kong Stock Exchange Main Board, with Huatai International as its exclusive sponsor. Company introduction According to the prospectus, the company is a leading provider of content authorization and customization services in China. Its services enable customers to efficiently acquire, create, manage, and use authorized content in a wide range of applications. The company's development strategy revolves around content assets, AI capabilities, and application scenarios. According to Frost & Sullivan data, based on revenue in 2025, the company ranks first in China and fifth globally in the visual content authorization services market. The following are the main highlights of the company's business: After more than twenty years of operation, the company has accumulated a wealth of content assets, developed AI capabilities, and expanded a wide range of application scenarios. These elements together form a self-reinforcing ecosystem that supports content creation, management, monetization, and continuous innovation. Content assets. As of December 31, 2025, the company has accumulated over 700 million various forms of content assets, including images, videos, audio files, and 3D/CG models. The company's content assets typically come from (i) global content providers, primarily composed of a global procurement network of signed copyright cooperation agencies and contributors; and (ii) proprietary content, primarily including the world-leading Corbis image library. The company supports content providers throughout the entire content lifecycle (from content creation and management to operation and monetization). This massive, high-quality, and continuously updated content library provides the foundation for the company's AI capability development and supports the commercialization across diverse application scenarios. AI capabilities. The company has developed an AI capability system that transforms content assets into structured data and AI-driven services. The system consists of (i) a data foundation, built on a massive amount of licensed and proprietary content and customer insights, which is transformed into structured multidimensional data through a combination of AI and expert annotation; and (ii) an AI architecture that integrates multimodal understanding large models and multimodal generation large models to support content recognition, annotation, and search matching, deployed through an AI intelligent body to support content supply-side and customer-facing applications. Customers and application scenarios. The company provides (i) content licensing services, providing customers with clear ownership and defined usage scope of content, including reliable commercial content; (ii) content customization services, providing customers with tailored content solutions to meet specific needs in content creation, production, management, and usage scenarios; and (iii) value-added services, including AI training data services, digital asset management services, intelligent terminal visual content solutions, and content creator community operations. Through these services, the company has established a broad customer base, including news media, internet companies, brand companies, and advertising agencies. Financial information Revenue In 2023, 2024, and 2025, the company's revenue was approximately RMB 781 million, RMB 811 million, and RMB 778 million, respectively. Profit In 2023, 2024, and 2025, the company's annual profits were approximately RMB 154 million, RMB 130 million, and RMB 92.674 million, respectively. Industry Overview As enterprise communication continues to digitize, and the importance of visual media in commercial and institutional activities increases, the global visual content services market has steadily expanded in recent years. Organizations in various industries increasingly rely on professional visual services to support marketing execution, brand management, media releases, and digital commerce, leading to sustained demand for licensed visual assets and custom content production. By 2025, the global visual content services market size reached approximately USD 57.7 billion, with a compound annual growth rate of about 12.4% from 2021 to 2025. Future growth is expected to be driven by structural changes in the way enterprises produce and distribute content. Communication cycles are becoming shorter and more sustainable, requiring a stable supply of visual materials rather than isolated, activity-based production. Moreover, the demand for scalable visual services has increased with the expansion of cross-border brand reach and localized marketing, which allows content to adapt to different regions and formats. Strengthening copyright enforcement and corporate compliance standards further support the demand for professionally sourced visual content. In addition, increased production efficiency from digital workflows and intelligent tools is expected to expand outputs achievable within existing budgets, enabling a wider range of organizations to access professional visual services. By 2030, the global visual content services market is expected to reach approximately USD 94.6 billion, with a compound annual growth rate of about 10.4% from 2025 to 2030. The Chinese visual content services market has rapidly expanded in recent years, reflecting the increasing intensity and commercialization of visual communication for enterprises and a long tail user base. By 2025, the market size reached approximately RMB 59.2 billion, with a compound annual growth rate of about 13.0% from 2021 to 2025. This growth is mainly driven by the continued expansion of digital advertising and e-commerce businesses, a high-frequency content production environment driven by short videos and social platforms, and the increasing prevalence of compliant and professional visual content acquisitions. Looking ahead, as enterprises further institutionalize the use of visual content in ongoing marketing and business workflows, and as small and medium-sized enterprises and creators continue to expand content production through broader digital distribution channels and productivity tools, the market is expected to maintain its growth trajectory. By 2030, the Chinese visual content services market is expected to reach approximately RMB 105 billion, with a compound annual growth rate of about 12.1% from 2025 to 2030. Board of Directors Information The company's board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors. Equity Structure As of the last practicable date (June 5, 2026), Ms. Wu Yurui, Mr. Liao Daoxun, and Mr. Chai Jijun directly and/or indirectly held approximately 9.87%, 5.93%, and 3.47% of the company's issued share capital, respectively. According to the concerted action arrangement, as of the last practicable date, Ms. Wu Yurui, Mr. Liao Daoxun, and Mr. Chai Jijun collectively are able to hold approximately 19.27% of the company's total issued share capital and control 19.29% of the voting rights attached to the company's A shares with attached voting rights (excluding the 998,800 shares of A shares held by the company as treasury stock). Intermediary Team Exclusive Sponsor: Huatai Financial Holdings (Hong Kong) Limited; Legal Advisor: Gallant, Beijing Liao Law Firm in association with Beijing Zhede Law Firm; Legal Advisor to the Exclusive Sponsor: Zhong Lun Law Firm, Beijing Tongshang Law Firm; Auditor and Reporting Accountant: KPMG; Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch.