It only states that the first pic was based on the char model, not the second. Lemme just translate the text as literally as possible then.
Page translation:

The is the first rough.
With "Until Ryu is done", we first started with the character model from the game, and this time we first started with the model as well.
Since this was a very preliminary version of her model (me: thus hinting the new one is different), we only used it as base for her pose.

Wow, what happened in this short timespan?
This is the location-test version of the illustration, and you can see that it's a quite a leap from the initial rough illustration.
Especially with the face, you don't see the rough shadows at all (maybe just the lips?)
It's cute. It's very cute. It's irresistable.

And it's finished!
...or so I wanted to show you all, but you'll have to look forward to the next time you touch the game!
Having gone through these two passes of Chun Li [illustrations], how will Chun Li's final character select screen look? ...wait to see what we have in store next time!
Thanks for the clarification, sugaki.
How fucking hard is 2D, Capcom?