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 ...

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） (1)建議制定獨立非執行董事工作制度 此乃要件，請即處理 閣下如 對本通函任何方面或應採取的行動 有任何疑問，應諮詢股票經紀或其他註冊證券 交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓 名下所有北京第四範式智能技術股份有限公司的股份，應立即將本 通 函 連 同 隨 附 的 代 表 委 任 表 格 送 交 買 主 或 承 讓 人，或 經 手 買 賣 或 轉 讓 的 銀 行、股 票 經 紀 或其他代理商，以便轉交買主或承讓人。 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函的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本通函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。 (2)建議修改董事會議事規則 (3)建議更改本公司中文名稱 (4)建議修改公司章 ...

Investment Rating - The report assigns an "Overweight" rating for the industry [4]. Core Insights - The transition from traditional SEO to GEO (Generative Engine Optimization) represents a paradigm shift in how brands are perceived and trusted in AI-driven search environments. GEO focuses on enhancing the credibility and citation frequency of brands in AI-generated answers, moving beyond mere visibility to being actively referenced by AI [2][8]. - The market potential for GEO is projected to reach a "billion-dollar level," driven by the replacement of existing SEO budgets and new allocations for AI search [2][21]. Summary by Sections 1. Definition and Essence of GEO - GEO is defined as an optimization strategy that ensures brands and content are actively mentioned in AI-generated answers, contrasting with traditional SEO which focuses on ranking [8]. - The emergence of GEO is attributed to the rise of AI search, which bypasses traditional click-through processes, leading to a significant drop in natural click rates [10][11]. 2. Technical Principles: Trust Engineering on the RAG Link - The RAG (Retrieval-Augmented Generation) architecture is central to GEO, shifting the focus from keyword matching to semantic understanding and trust-building [14][15]. - GEO aims to enhance content visibility, retrievability, and trustworthiness, rather than simply improving rankings [15]. 3. Market Space: SEO Replacement and New AI Search Demand - The global SEO service market is estimated at approximately $80 billion in 2024, with GEO expected to capture 10-20% of this budget, alongside new AI search allocations, leading to a potential market size exceeding $100 billion by 2030 [16][19]. - In China, the GEO market is projected to grow from 2.9 billion yuan in 2025 to 24 billion yuan by 2030, reflecting a CAGR of about 52.4% [21]. 4. Business Model: Transition from Labor-Intensive Services to Technology Platforms - The current GEO service model is primarily project-based, but it is expected to evolve towards a subscription-based SaaS model combined with performance-based pricing [22][25]. - The anticipated gross margin for GEO services is expected to rise significantly, aligning with the characteristics of the high-tech, high-concentration software industry [25]. 5. Investment Recommendations: Mapping the Content-Knowledge-Retrieval-Computing Chain - The report identifies key investment targets across the GEO value chain, including companies like Mifus, Minglue Technology, and iFlytek, which are positioned to benefit from the shift towards AI-driven marketing and content creation [27][30].

Core Viewpoint - The company has announced a change in its English and Chinese names, which will be implemented in phases without affecting shareholder rights or daily operations [2][3] Group 1: Name Change Details - The company's English name has been officially changed from "Beijing Fourth Paradigm Technology Co., Ltd." to "Phancy Group Co., Ltd." effective from January 7, 2026 [2] - The Chinese name is proposed to change 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," pending approval at an upcoming extraordinary general meeting [2] - The trading abbreviation for H-shares will change from "FOURTH PARADIGM" to "PHANCY" and from "第四范式" to "范式智能," while the stock code "06682" will remain unchanged [2] Group 2: Impact on Shareholders - The company has clarified that the name change will not affect the rights of existing shareholders, nor will it alter the company's daily business operations or financial status [3] - All shares issued under the previous name will continue to serve as valid proof of ownership and can be used for trading, settlement, registration, and delivery [3] - The company will not arrange for free exchange of old shares for new ones; future shares will be issued under the new company name [3]

Group 1 - The company has changed its English name from "Beijing Fourth Paradigm Technology Co., Ltd." to "Phancy Group Co., Ltd." effective from January 7, 2026 [1] - 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 [1] - The Hong Kong Companies Registry has issued a certificate confirming the name change, with the current registered name being "北京第四范式智能技术股份有限公司" also known as "Phancy Group Co., Ltd." [1] 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 [1] - The stock code for the H-shares listed on the Stock Exchange will remain "6682" [1]

更改公司名稱的影響 更 改 公 司 名 稱 不 會 影 響 本 公 司 證 券 現 有 持 有 人 的 任 何 權 利，亦 不 會 影 響 本 公 司 的 日 常 業 務 營 運 及 其 財 務 狀 況。 （股 份 代 號：6682） 更改公司英文名稱及股份簡稱 茲提述北京第四範式智能技術股份有限公司（「本公司」）日期為二零二五年十二 月一日及二零二五年十二月十九日的公告及本公司日期為二零二五年十二月 三日的通函（「該通函」），內 容 有 關（其 中 包 括）建 議 更 改 本 公 司 英 文 名 稱。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 該 通 函 所 界 定 者 具 有 相 同 涵 義。 更改公司英文名稱 董事會欣然宣佈，本公司英文名稱已由「Beijing Fourth Paradigm Technology Co., Ltd.」 更 改 為「Phancy Group Co., Ltd.」（「更改公司名稱」），自 二 零 二 六 年 一 月 七 日 起 生 效。茲 提 述 本 公 司 日 期 為 二 零 二 六 年 一 月 十 二 日 的 公 告。董 事 會 已 於 二 零 二 ...

Core Viewpoint - The Hong Kong stock market's AI application sector is experiencing a rebound, with notable increases in stock prices for several companies [1] Group 1: Company Performance - Zhihui (02513.HK) opened with a rise of 7.1% [1] - MINIMAX-WP (00100.HK) opened with an increase of 2.74% [1] - Other companies such as Zhixing Technology (01274.HK) and Fourth Paradigm (06682.HK) also saw their stock prices rise [1]

Market Overview - The Hong Kong stock market opened higher on January 14, with the Hang Seng Index rising by 0.46% to 26,971.97 points, the Hang Seng Tech Index up by 0.42% to 5,894.63 points, the State-Owned Enterprises Index increasing by 0.46% to 9,328.05 points, and the Red Chip Index gaining 0.25% to 4,156.46 points [1] Company News - Q Technology (01478.HK) expects a net profit growth of approximately 400% to 450% for the year ending December 31, 2025 [2] - China Coal Energy (01898.HK) anticipates a 10.2% decrease in coal sales volume to approximately 256 million tons for 2025, with December sales down by 23% year-on-year to 21.88 million tons [2] - Zhixing Technology (01274.HK) has been selected as a supplier for a Korean automotive group's driver assistance solutions for four vehicle models [2] - Country Garden (00832.HK) projects a total property contract sales amount of 8.467 billion yuan for 2025, a decrease of 16.3% year-on-year [3] - Hopson Development (00754.HK) expects total contract sales of approximately 15.607 billion yuan for 2025, down 6.15% year-on-year [4] - Chuangjie Tong (01588.HK) anticipates a profit attributable to the parent company between 76 million and 85 million yuan for 2025, representing a year-on-year increase of 127% to 154% [4] - SUTENG (02498.HK) forecasts laser radar product sales of approximately 912,000 units for 2025 [5] - Xiaocaiyuan (00999.HK) plans to establish a joint venture to develop an online mall and "community ready-to-eat stores" [6] - GDS Holdings (09698.HK) has recovered approximately 95% of the investment principal from DayOne, with an investment return rate of nearly 6.5 times [7] - China Biologic Products (01177.HK) intends to acquire 100% of Hejiya for a maximum base price of 12 million yuan to accelerate the development of its siRNA liver delivery platform [7] - Innovent Biologics (02696.HK) has had its Biologics License Application for Hanbeitai® (Bevacizumab Injection) accepted by the FDA [7] - Xiaomi Group (01810.HK) repurchased 4 million shares for 152 million HKD at prices between 37.94 and 38.04 HKD [8] - Tencent Holdings (00700.HK) repurchased 1.012 million shares for 636 million HKD at prices between 623 and 638 HKD [9] - Sunny Optical Technology (02382.HK) repurchased 640,000 shares for 41.7878 million HKD at prices between 64.55 and 65.8 HKD [10] Institutional Insights - Dongwu Securities suggests that the window for the Federal Reserve to cut interest rates this year is limited, and the impact of fiscal policies on the economy is still forthcoming. If the Fed does not cut rates in the first quarter, the rebound pace of the Hong Kong stock market will depend more on fundamental factors. The overall allocation strategy for Hong Kong stocks remains a barbell strategy, recommending a controlled allocation while waiting for more news [11] - Wanlian Securities highlights that policy opinions indicate a push to accelerate the industrialization and commercialization of brain-computer interfaces. The global competitive landscape in this sector shows the U.S. leading in invasive methods while China leads in non-invasive methods, focusing on key elements such as electrodes, chips, and algorithms [11][12]