QINIU announced that on May 26, 2026, its indirectly wholly-owned subsidiary, Superstify Technology, entered into a cloud services agreement with AlipayHK. Under the agreement, Superstify Technology will provide technical services to AlipayHK, which in turn will pay service fees to Superstify Technology. The contract is effective for a three-year period starting May 27, 2026.

The proposed annual caps for the service fees to be received by Superstify Technology under the cloud services agreement are as follows: RMB 30 million for the period from May 27, 2026, to December 31, 2026; RMB 36 million for each of the two fiscal years ending December 31, 2028; and RMB 6 million for the period from January 1, 2029, to May 26, 2029.

The board of directors believes that entering into this cloud services agreement will secure a reliable client for the group. This is expected to facilitate the expansion of the group's business operations, increase revenue, and enhance the recognition and market acceptance of the company's products.