UBOX ONLINE (02429) announced that on May 22, 2026 (after trading hours), the company entered into a strategic cooperation agreement with Shanghai Rothschild Smart Chain Technology Co., Ltd. (the Strategic Partner). Under this agreement, the parties have agreed to establish a strategic partnership focused on expanding the Group's unmanned retail business in mainland China by developing a point-of-sale network.
Pursuant to the strategic cooperation agreement, the parties will collaborate to establish and operate a platform named "U Smart Vending Chain Alliance" (the "U Alliance"). This platform is designed to facilitate cooperation and coordination among participants, including but not limited to vending machine owners, operators, suppliers, promoters, and other industry participants within the smart vending machine sector.
According to the agreement, the Strategic Partner will be primarily responsible for the design, development, and operation of the U Alliance. This includes developing a blockchain-based data recording system, smart contract or rule engine systems, and related management systems. The Strategic Partner and other participants in the U Alliance will also engage in its promotion, including recommending vending machine owners to the Group.
The Company will be primarily responsible for the operational and fulfillment aspects of the cooperative arrangement. This includes providing operation and management services for vending machines and smart cabinets introduced through the U Alliance. The Group is expected to serve as the exclusive operational service provider for machine owners who enter into cooperation contracts with the Group under the strategic cooperation agreement.
The U Alliance plans to utilize blockchain and Internet of Things (IoT) technologies to record and verify certain operational data generated by smart vending machines and smart cabinets associated with the platform. This data includes transaction volume, inventory, and equipment operation data. Based on this operational data and contribution records, "U Coins" can be generated according to applicable platform rules (the "U Alliance White Paper").
Only vending machines or smart cabinets that meet specific sales performance benchmarks will qualify as valid participation points eligible to earn U Coins. Participants can use U Coins to redeem products or services available on the platform. U Coins are not intended to constitute virtual assets, financial products, or publicly tradable instruments.
The initial term of the strategic cooperation agreement is three years, renewable by mutual agreement of the parties. The Board of Directors believes the smart vending machine industry is transitioning from a traditional single-operator model towards a more ecosystem-oriented and collaborative operational model.
The Board believes that the integration of blockchain and IoT technologies may help enhance operational transparency, ecosystem synergy, and participation within the unmanned retail industry. The Board further considers that the U Alliance, through the application of blockchain and IoT technologies, may help improve transparency and coordination among participants. Simultaneously, it aims to encourage machine owners and other participants to join the platform through a contribution-based participation arrangement.