On January 29, 2026, the company's wholly-owned subsidiary, Beijing 1520 Technology Co., Ltd. (Beijing 1520), entered into an investment contract with Beijing Xiuman Technology Co., Ltd. (Beijing Xiuman Technology).

Pursuant to the investment contract, Beijing 1520 and Beijing Xiuman Technology plan to jointly establish a joint venture company named "Chengdu Tianhe Xinrui Precious Metals Co., Ltd." in Chengdu, China, aiming to develop gold-related businesses.

The venture intends to use gold as a medium to integrate development across multiple dimensions including finance, sports, arts, and cross-border trade.

Beijing Xiuman Technology is wholly and beneficially owned by Mr. Yan Kaihong.

Beijing Xiuman Technology is primarily engaged in management consulting and sales businesses, which include the sale of metal products.

The registered capital of the joint venture company is RMB 5 million, with Beijing 1520 and Beijing Xiuman Technology contributing RMB 2.55 million and RMB 2.45 million, representing 51% and 49% of the registered capital, respectively.

The joint venture company will be a subsidiary of the company, and its financial performance will be consolidated into the company's comprehensive financial statements.

The Group has been actively seeking to expand its existing business and possesses extensive AI and Web3 technologies to build a smart new consumption ecosystem covering sports, culture, tourism, entertainment, and other fields.

The gold business offers significant core advantages, breaking traditional boundaries through an innovative model that deeply integrates pure gold products with elements of sports and art, while simultaneously linking with financial services to create a diversified ecosystem.

This strategic move not only effectively increases the average transaction value of traditional consumer business but also achieves an efficient overlay and mutual empowerment of gold's financial and consumer attributes, highlighting the comprehensive competitive advantage derived from this fusion of properties.

Over the past year, transaction volumes for such commodities have grown substantially, driving "small gold pieces" and co-branded jewelry to become new consumer trends.

The Board believes that establishing the joint venture to expand into gold business categories will enable the Group to further extend its IP-related business into the gold industry, help open up new revenue streams, and deliver returns to the company's shareholders.