Meeting Overview - The first extraordinary general meeting of shareholders was held on October 9, 2025, at 14:30 [1] - The meeting was conducted both in-person and via online voting [3] - A total of 219 shareholders attended, representing 305,785,549 shares, which is 39.2091% of the total voting shares [4] Voting Results - The proposal to amend the company's articles of association received 98.4337% approval from the voting shares [6] - The proposal to amend the rules of the shareholders' meeting also received 98.4332% approval [9] - The proposal to amend the rules of the board of directors received 98.4332% approval [11] Legal Opinion - The legal opinion provided by Anhui Tianhe Law Firm confirmed that the meeting's procedures and results complied with relevant laws and regulations, deeming the meeting valid [13] Documentation - The resolutions from the meeting, legal opinions, and other required documents will be available for review [14]

Group 1 - The 14th Five-Year Plan (2026-2030) is crucial for achieving the modernization goals set for 2035, focusing on tackling key challenges in various sectors [3] - The main theme is "new quality productivity," emphasizing technological innovation as a core driver, with AI expected to see significant growth by 2026, alongside opportunities in renewable energy and biomedicine [3] - The green transition is highlighted as a continuing opportunity, with the plan aiming for comprehensive economic greening, leading to maturity in clean energy and storage sectors, and new opportunities in traditional industries like construction materials [3] Group 2 - Consumer stability is emphasized, with traditional sectors like food and retail expected to rebound due to policy support, while new trends in service consumption, such as medical aesthetics and smart healthcare, are anticipated to grow with rising incomes [4] - The importance of aligning investment with policy implementation and industry cycles is stressed, particularly in areas like food and energy security, which may benefit the non-ferrous metals sector [4] - The overall investment strategy should follow clear policy directions: new quality productivity as the leader, green transition as the foundation, and consumer recovery as the basic support [4]

国庆中秋假期，中国迎来一场规模空前的大迁徙。 交通运输部数据显示，在刚刚结束的中秋国庆8天超级黄金周里，全社会跨区域人员流动量累计24.33亿 人次，日均3.04亿人次，比2024年同期日均同比增长6.3%，创历史新高。日均3.04亿人次，相当于这个 假期，中国每天接近"搬运"一个美国。 这如同一面棱镜，折射出中国消费结构的变迁与市场的韧性、潜力。 当大家在讨论上述数字意味着什么时，应该看到一个更值得关注的现象：中国的消费正在"下沉"，体验 在"上升"。 流动的中国，不只在路上。 数字背后，是人员流动带动消费变化。 某平台数据显示，县域旅游预订单量同比增长51%。江苏东台、浙江海宁、安徽泾县等小众目的地预订 量翻倍增长。 如，有平台的琉璃烧制国庆中秋假期订单环比增长高达270%，评弹增长150%。 数字背后，是城市竞争进入新的维度。 这表明，国人的节假日消费已不仅仅局限于大中城市商圈，消费的活力正悄然向更广阔的市场渗透。 如，在重庆荣昌，国庆前两日游客人数共计57.63万人次，著名景点安陶小镇连续两天客流暴增200%以 上。 为情绪买单、为体验付费，中国人消费逻辑的转变体现得更加明显。 非遗文化走红，亦揭示消 ...

（原标题：韩媒预测中秋长假将拉低本土消费） 韩国观光公社数据显示，今年1月出境游客297.3万人次，创月度历史新高，同比增加7.3%；相对 地，信用卡数据显示，同期国内旅游消费额约3万亿韩元，同比下降1.8%。专家与自营业者担忧，这次 中秋连休时间比春节更长，国内消费可能更加萧条。 政府则宣布将在中秋期间向小商工人和中小企业提供43.2万亿韩元资金支持，并通过发放第二轮民 生恢复消费券、扩大地区爱心商品券发行等方式刺激内需。政府相关人士表示，未来还将讨论进一步的 支援对策。 韩国《中央日报》9月23日报道，韩国将在下月3日起迎来长达10天的中秋黄金假期，但个体销售商 户却陷入忧虑。随着海外旅游需求激增，韩本国消费可能比往年更低。去年中秋假期期间，经由仁川机 场的出境旅客达120.4万人次，创下当时历史最高纪录；今年春节连休国际航班旅客更达217万人次，占 比高达99.3%。国会立法调查处报告指出，长假对内需提振作用有限，反而推高海外旅游。 ...

Group 1: Tourism Consumption - During the National Day and Mid-Autumn Festival holiday, Guangdong received over 65.17 million tourists, generating tourism revenue exceeding 61.3 billion yuan, both showing an increase of over 10% compared to last year [1] - Shenzhen welcomed approximately 9.2 million tourists, marking a 12.4% increase from the previous year, with total tourism revenue reaching 8.94 billion yuan, up 17.6% [2] - Over 1.4 million mainland tourists visited Hong Kong during the holiday, reflecting a growth of about 15% year-on-year [3] Group 2: New Attractions and Events - New landmarks in Shenzhen, such as the "Bay Area Eye" bookstore and the Qianhai Ice World, contributed to the tourism surge, with the bookstore attracting significant foot traffic shortly after its opening [2] - The Qianhai Ice World, the largest indoor ski resort globally, became a popular destination among younger tourists during the holiday [2] Group 3: Retail Performance - Hong Kong's hotel industry saw revenue growth of over 10% during the holiday, with an average occupancy rate exceeding 90% [3] - Retail sales in Hong Kong showed stable performance, with jewelry and cosmetics sales experiencing low double-digit growth, attributed to rising gold prices and new smartphone releases [4] - The K11 MUSEA shopping mall reported a 12% increase in foot traffic compared to last year, achieving a record high since its opening [4]

Group 1 - The National Day and Mid-Autumn Festival holiday saw a total of 8.88 billion domestic trips, an increase of 1.23 billion trips compared to the previous year [1] - Total domestic travel expenditure reached 809 billion CNY, up by 108.19 billion CNY from the previous year [1] - Over 29,000 cultural and tourism activities were held nationwide, with more than 480 million CNY in consumer subsidies distributed [4] Group 2 - The tourism market experienced a surge in inbound tourism, with increased foreign visitor numbers at popular sites like Chongqing's Ciqikou Ancient Town and Xi'an's Big Wild Goose Pagoda [3] - Digital and smart technologies were implemented in various tourist attractions, enhancing visitor experience through real-time information and management [4] - Sales in key retail and catering sectors grew by 2.7% year-on-year during the holiday period, with foot traffic and sales in monitored pedestrian streets increasing by 8.8% and 6% respectively [4] Group 3 - Consumer spending in the digital products and automotive sectors saw significant growth, with mobile communication devices up by 18.8% and automotive sales up by 12.6% [6] - The demand for cultural and sports services remained strong, with cultural arts service sales increasing by 18.6% [6] - Food and health-related product sales also performed well, with bakery products up by 24.3% and health supplements up by 34.7% [7]

Core Insights - The "Super Golden Week" during the National Day and Mid-Autumn Festival saw a 2.7% year-on-year increase in sales for key retail and catering enterprises across the country, according to the Ministry of Commerce [1][2] - Daily sales revenue in consumption-related industries grew by 4.5% year-on-year during the holiday period, with goods and services consumption increasing by 3.9% and 7.6% respectively [1][2] Retail and Catering Performance - Key retail and catering enterprises reported a 2.7% year-on-year sales increase during the holiday [1][2] - Foot traffic and sales in 78 monitored pedestrian streets increased by 8.8% and 6.0% year-on-year, respectively [1] - In Beijing, sales reached 9.51 billion yuan, with foot traffic of 59.67 million, marking a 13.9% increase [3] Consumer Trends - Significant growth was observed in specific sectors: digital products and automotive sales increased by 18.8% and 12.6% respectively, with new energy vehicles up by 14.7% [2] - Jewelry sales surged by 41.1% due to rising gold prices [2] - Green organic food sales rose by 27.9%, smart home products by 14.3%, and domestic fashion by 14.1% [2] Tourism and Related Services - Tourism-related service sales increased by 8.5%, with leisure activities up by 17.6% [3] - Beijing welcomed 2.51 million tourists, generating 31.65 billion yuan in tourism revenue, reflecting a 3.6% and 4.7% increase year-on-year [3] - Other cities also reported strong tourism performance, with Shanghai's consumption reaching 79.6 billion yuan, a 3.0% increase [4] Innovations in Consumption - New consumption models and innovations emerged, with a focus on cultural and experiential consumption [5][6] - The trend of immersive shopping experiences gained traction, with many commercial areas introducing AR fitting rooms and VR gaming [6] - The popularity of lesser-known travel destinations increased, with significant growth in bookings for unique locations [5] Overall Market Outlook - The strong performance during the holiday period is expected to inject momentum into the overall consumption market, which has shown signs of slowing down in the first half of the year [6] - The Ministry of Commerce anticipates a stable and positive development trend for the consumption market throughout the year, supported by ongoing policy initiatives [6]

Group 1 - The consumption market in Nanjing showed a strong performance during the National Day and Mid-Autumn Festival holiday, with key commercial enterprises achieving sales of 3.95 billion yuan, a 4.7% increase compared to the same period last year [1] - Over the 8-day holiday, 37 monitored shopping malls and complexes recorded a total sales of 1.47 billion yuan, reflecting a year-on-year growth of 3.8% [1] - Various promotional activities were held, including over 300 events that combined shopping, tourism, and food experiences, significantly enhancing consumer enthusiasm [1] Group 2 - The "Welcome to Yeyue Enjoy Jinling" dining consumption invoice lottery activity was launched in Jianye District, enhancing the dining experience for citizens and tourists [2] - The integration of cultural, tourism, and sports events effectively improved the quality of consumer experiences, with retail, dining, and accommodation sectors in key commercial areas achieving a transaction amount of 870 million yuan, a 6.4% increase year-on-year [2] - Innovative "ticket root economy" models were developed, stimulating city-wide consumption and highlighting the integration of commerce, culture, and sports [2] Group 3 - Cultural tourism activities at scenic spots like Fuzimiao and Xinanli, featuring exhibitions and festivals, boosted surrounding dining and shopping consumption [3] - Various scenic areas organized special events, such as fireworks shows and food markets, to provide comprehensive cultural tourism experiences and stimulate consumption growth [3] - Large-scale events like music festivals were closely linked with scenic spots and commercial areas, driving surrounding consumption [3]

Core Insights - The National Day and Mid-Autumn Festival holiday saw a total of 2.432 billion cross-regional trips, averaging 304 million trips per day, representing a year-on-year increase of 6.2% [3] - The total box office for films during the holiday period reached over 1.8 billion yuan, indicating a vibrant market and strong consumer spending, reflecting China's transition to high-quality economic development [3] Group 1: Consumer Trends - Chengdu received 28.623 million tourists during the holiday, a 5.3% increase year-on-year, with online and offline consumption totaling 76.75 billion yuan, up 11.0% [3] - The city ranked second in the top 10 travel destinations according to Meituan Travel, and second in popular long-distance destinations according to Ctrip [3] - The holiday period featured over 300 themed activities and unique scenes, with more than 200 promotional events attracting 14.591 million visitors and generating 1.84 billion yuan in consumption [6] Group 2: Experience Economy - The demand for experiential consumption has increased, with significant foot traffic reported at various attractions, such as the flagship store of Mixue Ice Cream in Zhengzhou, which saw over 65,000 visitors in a single day [8] - The focus on enhancing consumer experience is crucial, as evidenced by the popularity of events and activities that provide immersive experiences [9][10] Group 3: Market Diversification - There is a growing trend towards personalized and niche markets, with younger consumers favoring unique experiences over traditional tourist attractions [12] - Events like the World Line Animation Exhibition and the Munich Beer Festival in Chengdu attracted large crowds, showcasing the demand for diverse cultural experiences [12][13] - The emergence of vertical markets catering to specific interests indicates a shift towards more segmented consumer demands, emphasizing the importance of quality and personalization in consumption [13]

Core Insights - The National Day and Mid-Autumn Festival holiday in 2025 saw a vibrant scene in transportation, cultural tourism, and consumer markets, reflecting the robust vitality of the economy [1] Travel and Tourism - During the holiday, a total of 163.43 million people crossed borders, averaging 20.43 million daily, which is an 11.5% increase compared to the same period last year [5] - Domestic travel reached 888 million trips over the 8-day holiday, an increase of 123 million trips compared to the 7-day holiday in 2024 [8] - Total domestic travel expenditure was 809 billion yuan, up by 108.19 billion yuan from the previous year [8] - Major cities like Beijing, Tianjin, and Shanghai reported significant increases in tourist numbers and spending, with Shanghai seeing a 19.74% year-on-year increase in visitors [10] Demographics and Trends - Data from Meituan indicates that individuals aged 20-30 accounted for over 50% of flight and train ticket orders during the holiday, highlighting the youth's role as the main consumer group for travel [12] - There was a 51% increase in booking volume for destinations in surrounding counties of major cities compared to the previous year [12] Night Economy - Ctrip reported that searches for "night tours" surged over 200% during the holiday, with some venues experiencing a more than fivefold increase in search interest year-on-year [16] Consumer Market - The average daily sales revenue in consumer-related industries grew by 4.5% year-on-year during the holiday, with goods and services consumption increasing by 3.9% and 7.6% respectively [20] - Key retail and catering enterprises saw a 2.7% year-on-year increase in sales during the holiday period [22] - Foot traffic and sales in monitored pedestrian streets increased by 8.8% and 6.0% respectively from October 1 to 7 [22] Entertainment Sector - The box office for the National Day film season reached 1.835 billion yuan, with 50.07 million attendees [23]