Feiyang Group (01901) and China Youth Daily jointly launched the strategic cooperation of Chaowan Cultural and Creative “Mountain River Space Project”

Zhitong Finance App News, Feiyang Group (01901) issued an announcement. The group and “China Youth Daily” jointly launched a strategic cooperation for a trendy cultural and creative project called the “Mountain River Space Project”. Zhejiang Feiyang Digital Technology Co., Ltd., a wholly-owned subsidiary of the Group, signed a “Strategic Cooperation Agreement” with Beijing Zhongqing Online Network Information Technology Co., Ltd., a wholly-owned subsidiary of China Youth Daily, on December 8, 2025, and Feiyu Travel Card (Zhejiang) Culture Technology Co., Ltd., a holding subsidiary of the Group, is responsible for the implementation of the entire process of the plan.

Partner background: China Youth Daily is the core media at the national level and has extensive influence in the field of youth groups and cultural communication. According to the directors' knowledge, knowledge and conviction after making all reasonable inquiries, Beijing Zhongqing Online Network Information Technology Co., Ltd., China Youth Daily, and their ultimate beneficial owners are all persons independent of the company and its related parties.

The program is positioned as a national co-creation project with the theme of “Mountain and River” IP, integrating cultural heritage, trendy cultural creativity, and digital innovation. It provides an immersive cultural experience by combining cultural and creative entities with digital rights. The plan aims to establish an open, multi-dimensional IP ecosystem co-building system. The goal is to cover a wide range of cultural tourism elements, and to encourage global participation and sales to the global market. In the first phase, the “Mountain River · Youth” series of benefit-type trendy cards will be launched. The premium series of cards binds cultural tourism benefits and integrates physical, digital, and equity through NFC chips and compliance alliance chain technology. The future plan will further expand to various series such as “Mountain River · Hero”, “Mountain River · Inheritance”, “Mountain River · Panda”, and “Mountain River · Star”, and cover various carriers such as cultural and creative objects, film, television, animation, etc., gradually absorbing global cultural tourism resources and building a large-scale cultural consumption ecosystem.

The board of directors believes that this cooperation is in line with the Group's development strategy to promote the digitalization of cultural tourism. Using China Youth Daily's media resources and content influence, combined with the Group's experience in cultural tourism operations, the two sides can complement each other's resources and provide strong support for the program. The plan echoes the market trend of cultural tourism integration and has good development prospects and large-scale potential. It will help the Group expand the high-growth field of “cultural tourism+trendy play+digital economy”, enrich revenue sources (including card sales, equity realization, IP derivation, etc.), and help the group transform and upgrade from a “cultural tourism service provider” to a “comprehensive cultural tourism and cultural consumption platform”. Furthermore, the plan uses an open co-creation model, which is conducive to gathering creative resources and building a highly sticky user community.