On January 21, 2026, the Group entered into a memorandum of understanding with Hainan Yuncang Winery Co., Ltd., establishing a preliminary framework for a potential strategic collaboration.

According to the memorandum, the parties intend to pursue a strategic partnership based on their respective resource advantages, with initial collaborative directions including: 1. Strategic Supply: Yuncang Winery is proposed to become the strategic beverage supplier for the company's entertainment stores, providing a series of beverage supply services; 2. Market Synergy: Yuncang Winery plans to leverage its mature agent network in mainland China to assist with the recruitment of franchisees for the company's stores and the market promotion of its music AI platform; 3. Resource Complementarity: Both parties will consider utilizing their respective resource strengths to explore further cooperative possibilities to create synergistic effects.

Yuncang Winery is a beverage sales enterprise whose portfolio encompasses multiple brands including wine, whiskey, brandy, baijiu, and craft beer, positioning it as a comprehensive beverage wholesale and service platform.

Its business is primarily focused on mainland China, and it has successfully expanded into markets such as Hong Kong, Macau, Indonesia, and Australia.

The Board of Directors believes that Yuncang Winery possesses a rich product system and well-established market channels in the beverage supply sector, while the company holds core advantages in AI music services and the global layout of its entertainment stores.

Engaging in a strategic collaboration would enable both parties to achieve resource complementarity and synergistic advantages, aiding the Group in further refining its entertainment store service system, expanding its market influence, and aligning with the company's long-term development strategy and the overall interests of its shareholders.