Following the halt of acquisition plans by AI agent company Manus, the China Securities Regulatory Commission (CSRC) has tightened its scrutiny of Hong Kong IPOs by companies with red-chip structures. Several AI companies planning to list have begun evaluating dismantling their overseas structures and returning to domestic entities. Moonlight's Dark Side is currently communicating with lawyers regarding restructuring and has not yet made a final decision; Leap Star has initiated the dismantling of its overseas holding structure, believing that switching to a domestic entity will help shorten the approval cycle; DeepRoute.ai is also conducting a similar assessment. Industry insiders point out that dismantling a red-chip structure typically takes 6 to 12 months, involving procedures such as share buybacks, establishing joint ventures, and tax processing. Currently, regulators have not issued a comprehensive ban, but have inquired about the overseas holding situations of relevant companies. (The Information)