本集团的中国法律顾问表示，杭州仲裁委员会是否会于杨先生仲裁程序中作出有利于本集团的裁决存在 不确定性。倘杭州仲裁委员会于杨先生仲裁程序未作出有利于本集团的裁决，本集团将无法(其中包括) 撤销收购协议，及倘杨先生及/或其联属人士能够取得中国人民银行确认，则儘管本集团自2022年8月3 日起已失去对首惠集团营运及管理的控制权，且无法保证本集团在任何情况下能恢復对首惠集团的控制 权，本集团仍须履行其余现金代价(其中约人民币9200万元将应付予杨先生及杨先生关联实体)的付款责 任。考虑到杨先生仲裁程序的不利结果对本集团造成的重大后果及杭州仲裁委员会不作出有利于本集团 的裁决的风险，加上继续进行该等漫长程序将导致额外的时间及法律成本，董事会认为与杨先生及杨先 生关联实体进行和解事项符合本公司及股东的最佳利益。 就债务的可收回性而言，本集团管理层认为，考虑到已收取还款金额，和解事项是确保部分偿还债务的 最可行方案。董事会亦认为，获得首惠开桌合共12.9365%股权的应佔经济利益，连同向杨先生支付现 金奖励以促使其促成首惠开桌全部股权出售(包括与经济利益相关的首惠开桌12.9365%股权、根据天图 和解事项在代名人安排项下 ...

就债务的可收回性而言，本集团管理层认为，考虑到已收取还款金额，和解事项是确保部分偿还债务的 最可行方案。董事会亦认为，获得首惠开桌合共12.9365%股权的应佔经济利益，连同向杨先生支付现 金奖励以促使其促成首惠开桌全部股权出售(包括与经济利益相关的首惠开桌12.9365%股权、根据天图 和解事项在代名人安排项下本集团透过天图投资及天津天图兴华持有约19.12%股权，及在代名人安排 项下透过其余前股东持有首惠开桌约26.92%股权)，将是本集团收回其于首惠集团部分投资及追回部分 债务的良机。 本集团的中国法律顾问表示，杭州仲裁委员会是否会于杨先生仲裁程序中作出有利于本集团的裁决存在 不确定性。倘杭州仲裁委员会于杨先生仲裁程序未作出有利于本集团的裁决，本集团将无法(其中包括) 撤销收购协议，及倘杨先生及/或其联属人士能够取得中国人民银行确认，则儘管本集团自2022年8月3 日起已失去对首惠集团营运及管理的控制权，且无法保证本集团在任何情况下能恢復对首惠集团的控制 权，本集团仍须履行其余现金代价(其中约人民币9200万元将应付予杨先生及杨先生关联实体)的付款责 任。考虑到杨先生仲裁程序的不利结果对本集团造成的重大 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Vala Inc. （於開曼群島註冊成立之有限公司） （股份代號：2051） 有關 首惠開桌的和解協議的 須予披露及關連交易 有關首惠開桌的和解協議的須予披露及關連交易 董事會謹此宣佈，於2026年2月5日（交易時段後），杭州恩牛、杭州振牛、杭州商 牛、楊先生、楊先生關聯實體及首惠集團的成員公司已就和解事項訂立和解協 議。 上市規則的涵義 須予披露交易 由於有關和解協議的最高適用百分比率（定義見上市規則）超過5%但低於25%， 根據上市規則第14章，和解協議及其項下擬進行的交易構成本公司的須予披露交 易，並將須遵守申報及公告規定。 – 1 – 關連交易 於本公告日期，憑藉代名人安排，本集團仍為首惠開桌全部註冊資本的實益擁有 人，而該公司在法律上仍為本公司的附屬公司。楊先生為首惠開桌的董事，故根 據上市規則第14A章為本公司的關連人士。於本公告日期，凡山金石及首惠天下 各自由楊先生最終控制。因此，根據上市 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Vala Inc. (於開曼群島註冊成立之有限公司) 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02051 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 5 ...

Group 1 - VALA Group (2051.HK) was recognized as a "New Force in New Energy Enterprises" in the "2025 Annual Capital Market Most Valuable Influence List" during the 2025 Zhitong Finance 8th Investment Annual Meeting, establishing itself as a benchmark in the segmented market [2][7] - The new energy industry has transitioned from a phase of rapid expansion to a value verification period, with capital market focus shifting towards technological accumulation, product profitability, and sustainability of business models [2][7] - VALA Group has focused its technological investments and product development on "mobile lifestyle" scenarios, gradually forming a product system centered around new energy "small RVs" [2][7] Group 2 - VALA emphasizes integrated production and modular design to enhance component universality and system integration, reducing product complexity and long-term usage risks while aligning products with urban usage needs [3][8] - As of late November 2025, the cumulative sales of its two core models, vala pro and vala home, approached 1,000 units, reflecting VALA's ability to seize structural changes in the industry [3][8] - In the first three quarters of 2025, domestic camper sales increased by 104%, while self-propelled RV sales grew only by 6.7%, indicating a shift in consumer demand towards more flexible and frequently used small new energy travel products [3][8] Group 3 - VALA's exploration of business models is a core advantage, utilizing a co-creator mechanism that combines product sales, real user experiences, and user communication, forming a market reach centered around scenarios [4][9] - The growing owner ecosystem, exemplified by the VALA Club's activities across 31 provinces and 176 cities, enhances the sustainability of this model [4][9] - The recognition in the "2025 Capital Market Most Valuable Influence List" highlights VALA Group's comprehensive capabilities in the new energy vehicle segment and the significant growth potential of the small new energy RV market [5][9]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Vala Inc. (於開曼群島註冊成立之有限公司) 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02051 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | ...

Major Events - Black Sesame Intelligence (02533) plans to acquire and increase its stake to 60% in Zhuhai Yizhi Electronic Technology, aiming to establish a full-scenario ecosystem for AI chips [1] - China Biopharmaceutical (01177) has completed the enrollment of the first patient in the Phase III clinical trial of its self-developed TDI01 "ROCK2 inhibitor" for the treatment of idiopathic pulmonary fibrosis [1] - Cao Cao Travel (02643) sees a positive outlook and its controlling shareholder voluntarily extends the lock-up commitment [1] - Laike Pharmaceutical-B (02105) has completed the first dosing of the Phase I single-dose escalation study for LAE103 [1] - VALA (02051) has launched its new model, Vala Home, and is collaborating with Ruichi Automobile to enhance production capacity and delivery systems [1] Operating Performance - BYD Company (01211) expects to achieve approximately 4.6024 million units in new energy vehicle sales for 2025, representing a year-on-year increase of 7.73% [1] - Geely Automobile (00175) reported total vehicle sales of 236,800 units in December, a year-on-year increase of approximately 13% [1] - NIO Inc. (09866) delivered 48,100 vehicles in December, setting a new monthly record with a year-on-year increase of 54.6% [1] - Great Wall Motors (02333) anticipates sales of approximately 1.3237 million units for 2025, reflecting a year-on-year growth of 7.33% [1] - Xpeng Motors (09868) achieved a total delivery of 429,400 vehicles for the entire year of 2025, marking a year-on-year increase of 126% [1] - China Power (02380) reported a total consolidated electricity sales volume of 10.0997 million megawatt-hours in November, an increase of 15.38% year-on-year [1] - Li Auto (02015) delivered 44,200 new vehicles in December, a year-on-year decrease of 24.44% [1]

Group 1 - VALA has successfully delivered its first factory-designed six-seat new energy smart camping vehicle, "vala home," in collaboration with Chongqing Ruichi Automotive, marking a significant milestone in its product lineup [1] - The company has delivered a total of 90 vehicles in the fourth quarter of 2025, including 60 units of the "vala pro" camping model and 30 units of the "vala home" [1] - VALA has recruited 436 quality co-creators to promote and sell its vehicles through personal experiences and social media influence, contributing to the establishment of a mobile store model [1] Group 2 - To meet the diverse needs of potential customers, VALA has opened three self-operated "vala underground city" stores in cities like Hangzhou, Changsha, and Qingdao, with plans for further expansion [2] - The "vala underground city" stores focus on providing a comprehensive user experience, integrating vehicle display, lifestyle products, and community interactions [2] - The "valalife" WeChat mini-program has attracted approximately 115,000 registered users, and VALA has gained around 3.1 million followers across social media platforms, with over 840 million views on related videos [2] Group 3 - VALA's series of vehicles is the industry's first factory-designed multi-functional new energy models, aiming to transform cars from mere transportation tools into versatile mobile spaces [3] - The vehicles are designed for various scenarios, including outdoor camping, business meetings, family entertainment, and more, offering a comfortable and personalized multi-functional space [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Vala Inc. 本公告由Vala Inc.（「本公司」，連同其附屬公司統稱「本集團」）發佈，旨在向本公司 股東及潛在投資者提供有關本集團業務發展的最新資訊。 全新車型vala home開啟交付 於2025年12月，本集團與重慶瑞馳汽車實業有限公司「瑞馳汽車」聯合設計的國內首 款原廠斜升頂六座新能源智慧宿營車 — vala home，已向首批車主開啟交付。 隨著vala home的成功交付，本集團已實現兩款針對不同客群及不同價格區間的宿 營車產品佈局。本集團正攜手瑞馳汽車著力提升生產產能及交付體系，為vala系列 車型的車主提供更好的產品與服務體驗。 業務資料 於2025年第四季度期間，本集團向訂購客戶批量交付vala汽車90輛。其中包括本集 團的宿營車型vala pro交付60輛，vala home交付30輛。 – 1 – 本集團正著力選擇熱衷vala生活方式、樂於分享的優質vala車主加入vala ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: Vala Inc. (於開曼群島註冊成立之有限公司) 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02051 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | | ...