Xiangdian Co., Ltd. announced that the company held a board of directors meeting on December 15, 2025 to review and pass a bill to launch non-recourse accounts receivable factoring business. The business amount does not exceed 1 billion yuan, and the quota can be recycled. The term is valid for a number of months from the date of approval by the board of directors, and a single contract does not exceed several months. Cooperating institutions are domestic commercial banks and other financial institutions, and rates are determined through negotiations. This business does not constitute a related transaction or major asset restructuring. It has been approved by the board of directors and does not require review by a shareholders' meeting, which helps to revitalize assets and improve cash flow.

Xiangdian Co., Ltd. announced that the company held a board of directors meeting on December 15, 2025 to review and pass a bill to launch non-recourse accounts receivable factoring business. The business amount does not exceed 1 billion yuan, and the quota can be recycled. The term is valid for a number of months from the date of approval by the board of directors, and a single contract does not exceed several months. Cooperating institutions are domestic commercial banks and other financial institutions, and rates are determined through negotiations. This business does not constitute a related transaction or major asset restructuring. It has been approved by the board of directors and does not require review by a shareholders' meeting, which helps to revitalize assets and improve cash flow.