Inkeverse Group (HKG:3700) said the deposit paid under its Series A preferred share purchase agreement with Skywork AI has been returned in full, as the transaction remains pending regulatory approval, according to an April 10 Hong Kong bourse filing.

Shares of the entertainment content service firm were down over 1% in Monday morning trade.

The company agreed in August 2025 to invest 100 million yuan for about a 0.7% stake in Skywork AI through the purchase of Series A preferred shares.

Inkeverse said all conditions precedent have been fulfilled except for outbound direct investment approval.

Skywork AI, a subsidiary of Kunlun Group, is engaged in artificial intelligence and AI-generated content businesses.

Inkeverse said it is unable to provide a timeline for completion, given uncertainties around the approval process.