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EQS Newswire / 01/09/2025 / 15:25 UTC+8 During Alibaba's (9988.HK) earnings call on August 29th, CEO Eddie Wu explicitly identified two strategic opportunities for Alibaba: a technology platform centered on "AI + Cloud", and a large-scale consumer platform integrating shopping and lifestyle services. Wu emphasized, "Alibaba's approach to instant retail isn't focused on competing in a single consumer category, but rather on meeting the one-stop needs of billions of consumers, shaping the business model of a large-scale consumer platform in the AI era." Coincidentally, Huitongda Network (9878.HK), a strategic investment by Alibaba, released its interim results on August 28, also emphasizing the implementation of its "AI+" strategy, as well as expressing its intention to tap into new consumer subsegments such as "hard discounts" and "instant retail". Wanchen Group (300972.SZ), another company specializing in retail bulk sales, staged a strong limit-up last Friday. The convergence of technology and new consumption, integrating elements such as hard discount and instant retail, heralds the emergence of a “new trend”. Alibaba made a strategic investment in Huitongda in 2018, and remains a key strategic shareholder and the company's largest institutional shareholder. In August of this year, Alibaba Cloud and Huitongda signed a comprehensive full-stack AI collaboration, focusing on "AI + Industry" development in lower-tier markets. Targeting 300 million households and 4.7 million township mom-and-pop stores, the two companies will jointly develop and deploy multiple AI agents to expand their customer base and transaction volume, simultaneously improving urban and rural circulation efficiency and monetizing the industrial and retail data from lower-tier markets. On "instant retail", Alibaba and others have set off a trend of "flash sales" and "instant delivery" in the higher-tier markets; and Huitongda, being one of its investments, is leveraging its deep understanding of the lower-tier markets, combining digitalization and supply chain capabilities to transform some traditional rural businesses into new retail terminals with online ordering and door-to-door delivery. It is conceivable that in the future, after the full cooperation on AI, Alibaba and Huitongda will replicate the "instant retail" model in the lower-tier markets. On the other hand, "hard discount" has also become a buzzword for many platforms in the large consumer sector. “Haoxianglai”, a brand under Wanchen Group, has rapidly expanded its snack sales business, with over 10,000 stores and surging performance across its revenue and net profit. Its stocks hit the daily limit after opening on August 29. Huitongda, which owns 250,000 member stores, also mentioned in its financial report for the same period that it will focus on expanding the "hard discount" category to meet the needs of a wider customer base. Analysis indicates that with the thrust of AI, the consumer market is accelerating its evolution toward high-frequency, full-scenario, and diversified experiences. 01/09/2025 Dissemination of a Financial Press Release, transmitted by EQS News. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com

EQS Newswire / 01/09/2025 / 12:14 UTC+8 On the evening of August 28, Huitongda Network (9878.HK) released its 2025 interim results. During the reporting period, Huitongda Network achieved an operating profit of RMB356 million, representing a year-on-year (“YoY”) increase of 15.9%; profit attributable to equity shareholders of the company reached RMB139 million, representing a YoY increase of 10.8%; gross profit margin increased significantly by 1.1 percentage points YoY to 4.6%, a substantial YoY increase of 31.4%; and net cash generated from operating activities also reporting a significant increase of 65.7% YoY. The company's three key financial metrics, including gross profit margin, net profit margin, and net profit margin attributable to equity shareholders of the company, have all reached record highs. Since the second half of 2024, Huitongda has initiated its strategic upgrade, focusing on "quality and efficiency enhancement” and “innovative development". By proactively streamlining its low-margin and low-efficiency businesses, the company has further refined its revenue mix, with sales from self-owned brands exceeding RMB80 million, representing a YoY growth of over 490%; AI-related revenue contribution climbed to over 20% of total service revenue, or roughly RMB60 million or above, showcasing the effectiveness of its strategic upgrade. In the first half of 2025, Huitongda Network has seen rapid development of its “Self-owned brands”, “Integrated Production and Sales”, and “AI+” initiatives. Looking into the second half, the company plans to actively expand into areas such as “hard discounts”, “instant retail”, and “cross-border e-commerce”. It recently entered into a comprehensive full-stack AI collaboration with Alibaba Cloud, through which both parties will jointly advance the "AI + Industry" model to penetrate deeper into lower-tier markets, paving the way for sustained and rapid growth in AI related revenue. 01/09/2025 Dissemination of a Financial Press Release, transmitted by EQS News. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com

EQS Newswire / 01/09/2025 / 10:13 UTC+8 On the morning of August 28, the Harbin Cultural, Tourism and Sports Industry Expo, together with the Harbin Bank 2025 Harbin Marathon Expo, officially kicked off at Harbin Ice-Snow World. As a major supporting event before the 2025 Harbin Marathon, the three-day expo embraces the themes of “serving the event, showcasing the city, and benefiting the public,” aiming to serve as a key platform for the deep integration of “culture, sports, and tourism” in Harbin. Since its launch in 2016, the Harbin Marathon has grown steadily, evolving from a city-level event into a Chinese Athletics Association A1-certified race and a World Athletics Gold Label Race. Beyond being a window for the world to discover Harbin, it has become a powerful engine driving the city’s integration of “culture, sports, and tourism.” This expo, upgraded from the former Harbin Marathon Expo, positions sports as the engine and the marathon as the platform to promote the integrated development of “culture, sports, tourism, commerce, and exhibitions,” while further improving the model of “marathon race + marathon expo + marathon night + marathon investment promotion.” This expo has been integrated with the packet pick-up part, providing runners with services such as kit collection and professional gear consultation. Covering 8,200 square meters, the pickup area streamlines the process by “time-slot guidance and precise verification,” ensuring a smooth, hassle-free experience and establishing itself as a true “pre-race service station” for the Harbin Marathon. Meanwhile, this expo also serves as a shared platform for everyone to experience culture, sports, and tourism. Runners can share their race experiences and inspiring stories, local residents can experience the joy of sports and learn about professional health services up close, and participating companies have the opportunity to showcase cutting-edge industry achievements. Notably, this expo breaks away from the traditional sponsor-focused model for the first time. It brings together the three core areas of “culture, tourism, and sports,” gathering numerous companies across more than 11,400 square meters of exhibition space to showcase Harbin’s local cultural and tourism resources, cutting-edge sports equipment, and distinctive cultural products, creating a comprehensive platform that spans the entire industry chain. As a key platform showcasing Harbin’s charm as the “City of Olympic Champions,” the “City Hosting the Asian Winter Games Twice,” and the “Ice City and Summer Capital,” this expo will effectively extend the influence of the Harbin Marathon, fully highlight the city’s vitality, and further promote the deep integration of sports, culture, and urban development, becoming an important bridge connecting the event, the city, and its residents. Contact： Company: Harbin Daily Culture Contact Person: Zhang Yi Email: Zhang.Yi@my399.com 01/09/2025 Dissemination of a Financial Press Release, transmitted by EQS News. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com