QIDIAN GUOFENG (01280) announced that its subsidiary, Shanghai Huiliu Network Technology Co., Ltd., has entered into a one-year non-exclusive leading channel distributor cooperation agreement with a third party independent from the Group and its connected persons, Metax Integrated Circuits (Shanghai) Co., Ltd. (Stock Code: 688802.SH). As a leading player among the "Four Little Dragons of Domestic GPUs" and a full-stack GPU solution provider, Metax Integrated Circuits, with its market capitalization in the hundreds of billions and leading commercialization capabilities, has become a core force in the domestic GPU substitution process. Under this agreement, Metax Integrated Circuits appoints Shanghai Huiliu as a non-exclusive leading channel distributor for the sales and promotion of its authorized products in the Chinese mainland market (excluding Hong Kong, Macau, and Taiwan). The authorized products currently include the full range of Metax Integrated Circuits' GPU products, as detailed in the product list within the agreement. Shanghai Huiliu has agreed that the distribution price for selling authorized products to end customers shall not be lower than 90% of Metax Integrated Circuits' guided price, unless prior written consent is obtained from Metax Integrated Circuits. According to the agreement, Shanghai Huiliu's annual procurement performance target is to purchase 2,000 GPU units from Metax Integrated Circuits within the year. Based on current market value estimates, this annual procurement framework corresponds to a potential business scale of approximately RMB 200 million. The achievement of this performance target will be a key basis for evaluating the continuity of the cooperation between the two parties. The Company believes that entering into this agreement marks a significant milestone in the Group's business development. Through this collaboration, the Group officially enters the domestic AI computing hardware market, achieving a strategic transformation towards becoming an integrated "software-hardware" solution provider. This cooperation will integrate Metax Integrated Circuits' high-performance domestic GPU chip technology with the Group's market development capabilities to form a "Huiliu-brand" integrated domestic AI server solution, providing large internet enterprises, intelligent computing centers, scientific research institutions, and commercial enterprises with high computing power demands a domestic alternative for integrated training and inference. Furthermore, the "leading channel distributor" status and the project reporting protection mechanism granted by the agreement establish a unique first-mover advantage and channel barrier for the Group in the highly competitive market. Entering the domestic high-end hardware sector is expected to open up new, sustainable revenue growth points for the Group and enhance its overall profitability.