Qidian Guofeng (01280) terminates advertising agreement and suggests issuing common shares based on general authorization.

QIDIAN GUOFENG (01280) announced that on February 6, 2026, an agreement to terminate the advertisement agreement and related supplemental agreements was reached between Renhuai, Guizhou and Junxiang. Accordingly, both parties agreed to terminate the advertisement agreement and all related supplemental agreements starting from January 15, 2026. According to the termination agreement, starting from January 15, 2026, unless otherwise specified in the termination agreement, the rights and obligations of Renhuai, Guizhou and Junxiang under the advertisement agreement shall be terminated. Renhuai, Guizhou and Junxiang further agreed that under the termination clause of the advertisement agreement, neither party shall be held liable for breach of contract due to the early termination of the agreement. After termination, neither party shall claim any rights, compensation, or demands from the other party under the advertisement agreement. Both parties also confirmed that Junxiang shall not withdraw or unconditionally waive all payment obligations of Renhuai, Guizhou for the advertisements published by Junxiang during the performance period of the advertisement agreement until January 15, 2026. Due to the termination agreement, the arrangement of issuing and distributing 33.61 million shares of consideration shares at an issue price of HK$4.89 per share to Junxiang as the payment for the first year of service under the advertisement agreement will no longer be carried out. The Board of Directors believes that the termination agreement will not have any significant adverse impact on the business operations or financial condition of the Group. The Board of Directors also believes that the terms of the termination agreement are fair and reasonable, and are in the overall interests of the Company and its shareholders.