FEIYANG GROUP (01901) announced that its wholly-owned subsidiary, Feiyang Traveler Tourism Limited (Feiyang Traveler), entered into a Memorandum of Understanding (MOU) with Conflux Hong Kong Management Limited (Conflux, collectively referred to as "the Parties" together with Feiyang Traveler) on September 9, 2025, in Xuhui District, Shanghai. Based on their respective advantages in cultural tourism industry resources and blockchain technology, the Parties intend to jointly explore cooperation opportunities in the global digitization of cultural tourism assets to drive the digital transformation and innovative development of the Group's cultural tourism business.

Conflux is the leading public blockchain operating entity created by Tsinghua University's "Yao Class" team, possessing advanced capabilities in blockchain technology. The Group, as a tourism service provider listed on the Main Board of The Stock Exchange of Hong Kong Limited, has abundant cultural tourism resources and market foundation. Through this cooperation, both parties aim to jointly promote the digital transformation of cultural tourism business, particularly exploring innovative models in stablecoin payments and digitization of cultural tourism assets.

According to the MOU, the Parties intend to advance cooperation in the following areas:

1. Digitization of Cultural Tourism Assets: Collaborate to build a cultural tourism asset digitization platform based on Conflux blockchain, promoting the on-chain registration and confirmation of rights for scenic area operating rights, hotel equity, and other assets.

2. Stablecoin Applications: Introduce compliant stablecoins as payment and settlement tools in cultural tourism transaction scenarios, jointly building a compliance framework.

3. Global Market Promotion: Utilize both parties' resources to promote cultural tourism digital assets and blockchain application achievements in international markets.

This cooperation aligns with the Group's digital transformation strategy and is expected to enhance operational efficiency and expand innovative business models, having positive significance for long-term development. Currently, the MOU does not constitute legal binding force, and specific cooperation matters are subject to further negotiation and signing of formal agreements.