On 8 January 2024 (after trading hours), Zhejiang Zibuyu entered into the Informatization Construction and Development Contract with Hangzhou Shuzhi, pursuant to which Zhejiang Zibuyu engaged Hangzhou Shuzhi to provide intelligent informatization construction, development and research services for a term of one year from 8 January 2024 to 7 January 2025, with an aggregate development fee of RMB12.0 million. The Board considers that the entering into the Informatization Construction and Development Contract by Zhejiang Zibuyu with Hangzhou Shuzhi will bring the following benefits to the Group: In terms of data analysis services, Hangzhou Shuzhi has relatively mature experience in the development of data analysis products, and the data analysis tools it has developed can provide more refined and comprehensive support for the decision-making of the management of the Company and enhance the efficiency and quality of the Company's decision-making in various segments, forming a new driving force for the Company's future growth; In terms of advertising project services, the advertising cost can be effectively reduced by the Intelligent Advertising System developed by Hangzhou Shuzhi. The Acos (i.e. advertising cost as a percentage of sales) of the Intelligent Advertising System are lower as compared to that of traditional manually placed advertisements; and In terms of AI algorithm services, as the industry trend, they play an indispensable role in the transformation of traditional cross-border enterprises.

Hangzhou Shuzhi will be able to assist the Company in handling multilingual conversion and Listing generation (i.e. creating and publishing product lists on e-commerce platforms or online markets) by using large language model, optimizing product detail pages, and improving conversion rates. By utilizing image algorithm models for product identification and image search, it can help to identify market trends, recommend popular element combinations, and increase hit rate of the products. In addition, Hangzhou Shuzhi's text cleaning and mining algorithm models can analyze user reviews and public opinion data, which helps the Company to better understand market demand and user preferences in order to optimize product selection and marketing strategies.