Xiangdian Group: Intends to carry out accounts receivable factoring business of not more than 1 billion yuan without recourse.

Shangdian Co., Ltd. announced that the company held a board meeting on December 15, 2025 to review and approve the proposal to conduct non-recourse accounts receivable factoring business. The business amount is not more than 1 billion yuan, and the limit can be used in a revolving manner. The term is effective from the approval of the board of directors for a certain number of months, and each contract does not exceed a certain number of months. The cooperative institutions are domestic commercial banks and other financial institutions, and the fees are negotiated and determined. This business does not constitute a related party transaction or a major asset restructuring, has been approved by the board of directors, does not require shareholder approval, and will help activate assets and improve cash flow.