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 全部或任何部份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。 Phancy Group Co., Ltd. 北京第四範式智能技術股份有限公司 （前 稱「北 京 第 四 範 式 智 能 技 術 股 份 有 限 公 司Beijing Fourth Paradigm Technology Co., Ltd.」） （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6682） 聯席公司秘書卸任 北京第四範式智能技術股份有限公司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，彭 駿 先 生（「彭先生」）因 工 作 變 動，已 提 呈 卸 任 本 公 司 聯 席 公 司 秘 書 職 務，自2026年1月26日 生 效。 彭 先 生 已 確 認 彼 與 董 事 會 並 無 意 見 分 歧，亦 無 有 關 其 上 述 卸 任 而 需 提 請 香 港 聯 合 交 ...

Core Insights - The article highlights the shift in enterprise demand for cloud services from resource elasticity to intelligent, secure, and scenario-based capabilities, marking a new phase in cloud services with the introduction of Phanthy Cloud by Fan Shi Intelligence [1][9]. Group 1: Product Overview - Phanthy Cloud represents a comprehensive cloud solution that integrates AI engineering, industry modeling, and computing resource scheduling, addressing the urgent market need for quickly deployable and continuously evolving intelligent cloud platforms [3]. - The platform features a three-layer architecture: cloud layer, computing layer, and capability layer, providing a full-stack solution from resource management to intelligent application [5]. Group 2: Cloud Layer - The cloud layer of Phanthy Cloud supports seamless compatibility with public, private, and hybrid deployment models, ensuring scalability while meeting the security and compliance requirements of government and enterprise clients [5]. Group 3: Computing Layer - The computing layer incorporates a high-performance heterogeneous vGPU scheduling engine, supported by the global active computing management community HAMi, enhancing resource utilization and delivery efficiency in multi-team and multi-task scenarios [5]. Group 4: Capability Layer - The capability layer integrates three core pillars: 1. Model Ecosystem: Addresses challenges in domestic replacement by connecting to a leading community of certified models, rapidly increasing from 0 to over 10,000 models in three months [6]. 2. Engineering Platform: Utilizes the industry-leading AI development platform, enabling enterprises to develop, deploy, evaluate, and govern models autonomously [7]. 3. Vertical World Models: Transforms industry knowledge and high-quality data into reusable model assets, allowing AI to perform precise reasoning and optimization in complex decision-making scenarios [8]. Group 5: Future Outlook - The launch of Phanthy Cloud signifies a critical step towards the era of "AI-as-a-Service," focusing on building usable, trustworthy, and evolvable enterprise-level intelligent systems [9][10].

Core Insights - The article highlights the shift in enterprise demand for cloud services from resource elasticity to intelligent, secure, and scenario-based capabilities, marking a new phase in cloud services with the introduction of Phanthy Cloud by Fan Shi Intelligent [1][8] Group 1: Phanthy Cloud Overview - Phanthy Cloud represents a comprehensive cloud solution that integrates AI engineering, industry modeling, and resource scheduling, addressing the urgent market need for quickly deployable and continuously evolving intelligent cloud platforms [3] - The platform is designed to be "ready-to-use and continuously evolving," catering to enterprises' demands for a robust AI infrastructure [3] Group 2: Three-Layer Architecture - Phanthy Cloud features a three-layer integrated design that provides a full-stack solution from foundational resources to top-level intelligence [5] - Cloud Layer: Seamlessly compatible with public, private, and hybrid deployment models, ensuring security and compliance for government and enterprise clients [5] - Computing Layer: Incorporates a high-performance heterogeneous vGPU scheduling engine, enhancing resource utilization and delivery efficiency in multi-team and fluctuating load scenarios [5] - Capability Layer: Integrates ten years of AI core capabilities, including a model ecosystem, engineering platform, and vertical world models [5][6][7] Group 3: Model Ecosystem - The model ecosystem addresses common challenges in domestic replacement processes, allowing enterprises to quickly access verified model assets and significantly reduce selection and integration cycles [6] - The Phanthy Cloud has connected to a leading domestic model community, achieving a rapid increase in certified models from 0 to over 10,000 in just three months [6] Group 4: Engineering Platform - Phanthy Cloud integrates the industry-leading AI development platform, enabling enterprises to develop, deploy, evaluate, and govern models autonomously, ensuring a closed-loop and evolving AI production pipeline [6] Group 5: Vertical World Models - The platform innovatively transforms ten years of vertical world model capabilities into reusable model assets, allowing AI to perform precise reasoning, evaluation, and optimization in complex decision-making scenarios across various industries [7] Group 6: Future of AI Services - The launch of Phanthy Cloud signifies a critical step towards transforming intelligent capabilities into a new type of enterprise infrastructure, aiming to enable every business to build its own future-oriented AI capability stack with lower barriers and higher efficiency [8]

Core Insights - The article highlights the shift in enterprise demand for cloud services from resource elasticity to intelligent, secure, and scenario-based capabilities, marking a new phase in cloud services with the introduction of Phanthy Cloud by Paradigm Intelligence [1][8] Group 1: Product Overview - Phanthy Cloud represents a comprehensive cloud solution that integrates AI engineering, industry modeling, and resource scheduling, addressing the urgent market need for quickly deployable and continuously evolving intelligent cloud platforms [3] - The platform features a three-layer architecture: cloud layer, computing power layer, and capability layer, providing a full-stack solution from resource management to intelligent application [5] Group 2: Technical Features - The cloud layer supports seamless compatibility with public, private, and hybrid deployment models, ensuring security and compliance for enterprise clients while maintaining elasticity [5] - The computing power layer incorporates a high-performance heterogeneous vGPU scheduling engine, enhancing resource utilization and delivery efficiency in multi-team and fluctuating load scenarios [5] - The capability layer integrates Paradigm's decade-long AI core competencies, including a model ecosystem that addresses common challenges in domestic replacement processes, significantly reducing selection and integration cycles for enterprises [6][7] Group 3: Strategic Positioning - Phanthy Cloud aims to transform intelligent capabilities into a new type of enterprise infrastructure, focusing on building usable, trustworthy, and evolvable enterprise-level intelligent systems [8] - The platform's release is a critical step for Paradigm Intelligence in enabling businesses to construct their own AI capability stacks with lower barriers, higher efficiency, and more robust pathways [8]

Group 1 - The core viewpoint of the article highlights the decline in motorcycle production and sales for Chongqing Longxin Motorcycle Co., Ltd. in November 2025, with production down by 29.59% and sales down by 33.06% year-on-year [1][1][1] - The production volume for Chongqing Longxin in November 2025 was 115,154 units, while the sales volume was 106,682 units, resulting in a production-sales ratio of 92.64% and an inventory backlog of 8,472 units [1][1][1] Group 2 - The article references a report by Zhiyan Consulting titled "2026-2032 China Motorcycle Industry Market Panorama Assessment and Development Strategy Analysis Report," indicating ongoing research and analysis in the motorcycle industry [1][1][1] - A list of relevant companies in the motorcycle industry is provided, including Qianjiang Motorcycle, Xinlong Health, Zhenghe Industrial, and others, suggesting a broad market context for the analysis [1][1][1]

Core Insights - Noumena, led by CEO Pei Nasi, adopts a unique approach by embedding its team within client offices to foster deep collaboration and understanding of business needs [1][3] - The marketing landscape has shifted from e-commerce platforms to content social platforms, significantly impacting brand marketing strategies [3][4] - Noumena aims to transform marketing from an art into a science through its AI-driven "Growth Intelligence" system, addressing the challenges of consumer insights and data processing [5][6] Group 1: Business Model and Strategy - Noumena's founders emphasize a focus on specific business domains to leverage AI effectively, opting for direct engagement with clients rather than traditional office setups [1][8] - The company targets top-tier brands and fast-growing DTC brands, believing that these clients possess valuable insights that can enhance Noumena's AI capabilities [9][27] - The "Manhattan Project" within Noumena includes modules for public domain compression and evidence grading verification, aimed at extracting actionable insights from vast amounts of user-generated content [6][7] Group 2: Market Dynamics - Over 85% of Gen Z's purchasing decisions are influenced by content social platforms, making them critical battlegrounds for brands [4][10] - Traditional marketing methods struggle to adapt to the rapid changes in consumer behavior driven by social media, necessitating a new approach to data and insights [10][11] - The shift in consumer decision-making processes highlights the need for brands to optimize their content distribution and engagement strategies [12][13] Group 3: Technological Innovation - Noumena's AI system is designed to process unstructured data and validate insights, addressing the limitations of traditional consumer research methods [5][6] - The company employs a structured approach to understanding content social platforms, focusing on causal relationships that can drive marketing effectiveness [23][24] - The integration of technology in marketing is seen as a means to enhance decision-making and operational efficiency, moving beyond mere content generation [30][31] Group 4: Operational Insights - The co-creation model adopted by Noumena allows for a better understanding of client needs and market dynamics, bridging the gap between technical capabilities and business requirements [25][26] - The company emphasizes the importance of aligning marketing strategies with long-term brand growth rather than short-term execution efficiency [25][26] - Noumena's dual-track business model includes service fees for top clients and a token-based payment system for professional users, indicating a scalable approach to growth [29][30]

Core Insights - The top three companies with the highest short positions as of January 9 are Vanke Enterprises (02202), Dongfang Electric (01072), and COSCO Shipping Holdings (01919), with short ratios of 18.74%, 17.39%, and 16.49% respectively [1][2] - The companies with the largest absolute increase in short positions are Goldwind Technology (02208), Zhaoyan New Drug (06127), and Jingtai Holdings (02228), with increases of 6.84%, 2.14%, and 1.85% respectively [1][2] - The companies with the largest absolute decrease in short positions are COSCO Shipping Energy (01138), Sanhua Intelligent Control (02050), and Huahong Semiconductor (01347), with decreases of -1.77%, -0.80%, and -0.71% respectively [1][3] Top 10 Short Positions - Vanke Enterprises (02202) has a short position of 413 million shares, representing a short ratio of 18.74% [2] - Dongfang Electric (01072) has a short position of 70.93 million shares, with a short ratio of 17.39% [2] - COSCO Shipping Holdings (01919) has a short position of 475 million shares, with a short ratio of 16.49% [2] - Other notable companies in the top 10 include Heng Rui Medicine (01276) at 15.19% and Ping An Insurance (02318) at 14.74% [2] Largest Increases in Short Positions - Goldwind Technology (02208) saw its short ratio increase from 4.35% to 11.18%, an increase of 6.84% [2] - Zhaoyan New Drug (06127) increased from 6.65% to 8.79%, an increase of 2.14% [2] - Jingtai Holdings (02228) increased from 3.34% to 5.19%, an increase of 1.85% [2] Largest Decreases in Short Positions - COSCO Shipping Energy (01138) decreased from 7.11% to 5.34%, a decrease of -1.77% [3] - Sanhua Intelligent Control (02050) decreased from 6.52% to 5.72%, a decrease of -0.80% [3] - Huahong Semiconductor (01347) decreased from 4.85% to 4.13%, a decrease of -0.71% [3]

Group 1 - The company Fourth Paradigm (06682) has announced a change in its English name from "Beijing Fourth Paradigm Technology Co., Ltd." to "Phancy Group Co., Ltd." effective from January 7, 2026 [2] - The board has resolved to change the company's Chinese name from "北京第四范式智能技术股份有限公司" to "范式智能技术集团股份有限公司" on January 12, 2026, pending shareholder approval at an upcoming extraordinary general meeting [2] - The Hong Kong Companies Registry has issued a certificate of registration for the name change, confirming the company's new name as Phancy Group Co., Ltd. [2] Group 2 - The English abbreviation for the H-shares traded on the Stock Exchange will change from "FOURTH PARADIGM" to "PHANCY," and the Chinese abbreviation will change from "第四范式" to "范式智能," effective from 9:00 AM on January 20, 2026 [2] - The stock code for the H-shares listed on the Stock Exchange will remain "6682" [2]

| | 普通決議案 | 贊成 | 反對 | 棄權 | | --- | --- | --- | --- | --- | | 1. | 審議及批准制定獨立非執行董事工作制度。 | | | | | 2. | 審議及批准更改本公司中文名稱。 | | | | | | 特別決議案 | 贊成 | 反對 | 棄權 | | 3. | 審議及批准建議修改董事會議事規則。 | | | | | 4. | 審議及批准建議修改公司章程。 | | | | 日期：二零二六年 簽 署 （附註6） Phancy Group Co., Ltd. 北京第四範式智能技術股份有限公司 （前 稱「北 京 第 四 範 式 智 能 技 術 股 份 有 限 公 司Beijing Fourth Paradigm Technology Co., Ltd.」） （於中華人民共和國註冊成立的股份有限公司） （股份代號：6682） 將於二零二六年二月四日（星期三）舉行之臨時股東會之代表委任表格 | （附註1） 本人╱吾等 | | | | | --- | --- | --- | --- | | 地址為 | | | | | 為北京第四範式智能技術股份有限公司（「本公司」）股 ...

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通告的內容概不 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 通 告 全部或任何部份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。 Phancy Group Co., Ltd. 北京第四範式智能技術股份有限公司 （前 稱「北 京 第 四 範 式 智 能 技 術 股 份 有 限 公 司Beijing Fourth Paradigm Technology Co., Ltd.」） （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6682） 特別決議案 3. 審 議 及 批 准 建 議 修 改 董 事 會 議 事 規 則。 4. 審 議 及 批 准 建 議 修 改 公 司 章 程。 上 述 於 臨 時 股 東 會 上 提 呈 的 決 議 案 詳 情 載 於 該 通 函，該 通 函 可 於 香 港 聯 交 所 網 站(www.hkexnews.hk)及本公司網站(www.4paradigm.com)查 閱。 承董事會命 北京第四範式智能技 ...