香港聯合交易所有限公司及證券及期貨事務監察委員會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，並表明概不就因本公告全部或任何部分內容而產生或依賴該等內容而引致 的任何損失承擔任何責任。 SHANGHAI KEYING E-COMMERCE CO., LTD. 上海凱詰電子商務股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 警 告 本公告乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會 （「證監會」）的要求而刊發，僅用作向香港公眾人士提供資料。 閣下閱覽本公告，即表示 閣下知悉、接納並向上海凱詰電子商務股份有限公司 （「本公司」）、其獨家保薦人、聯席整體協調人、顧問或包銷團成員表示同意： – 1 – 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，並表明概不就因本公告全部或任何部分內容而產生或依賴該等內容而引致 的任何損失承擔任何責任。 本公告並不構成向任何司法權區的公眾人士提呈出售任何證券的招股章程、發售通函、通告、通 函、小冊子或廣告，亦非出售證券的要約或向公眾人士發出以勸誘或招攬以收購、購買或認購證 ...

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Group 1 - The core point of the news is that 壹网壹创 has seen a stock price increase of 8.42% over the last three days, with a current price of 32.56 yuan per share and a market capitalization of 77.15 billion yuan [1] - The company, established in April 2012 and listed in September 2019, provides e-commerce services for well-known fast-moving consumer goods brands across various online channels [1] - The revenue composition of the company includes online distribution services (33.73%), brand online marketing services (29.52%), brand online management services (25.53%), content e-commerce services (9.14%), and other services (2.08%) [1] Group 2 - 浦银安盛基金 has a significant holding in 壹网壹创, with its 浦银安盛增长动力混合A fund holding 571,400 shares, representing 3.07% of the fund's net value [2] - The fund has gained approximately 144.56 million yuan in floating profits during the three-day stock price increase [2] - 浦银安盛增长动力混合A fund was established in March 2015, with a current size of 646 million yuan and a year-to-date return of 9.66% [2]

Group 1 - The core point of the news is that Kaichun Co., Ltd. experienced a stock price increase of 5.01%, reaching 34.80 CNY per share, with a trading volume of 1.06 billion CNY and a turnover rate of 6.17%, resulting in a total market capitalization of 2.784 billion CNY [1] - Kaichun Co., Ltd. is located in Shanghai and was established on December 2, 2008, with its listing date on May 28, 2021. The company primarily provides comprehensive e-commerce services and customer relationship management services for well-known domestic and international brands, with 100% of its main business revenue coming from e-commerce [1] Group 2 - From the perspective of the top ten circulating shareholders, a fund under Nuoan Fund holds a significant position in Kaichun Co., Ltd. The Nuoan Multi-Strategy Mixed A Fund (320016) increased its holdings by 168,300 shares in the third quarter, bringing its total to 494,800 shares, which accounts for 0.99% of the circulating shares. The estimated floating profit today is approximately 821,400 CNY [2] - The Nuoan Multi-Strategy Mixed A Fund (320016) was established on August 9, 2011, with a latest scale of 1.855 billion CNY. Year-to-date returns are 69.07%, ranking 160 out of 8,136 in its category, while the one-year return is 69.42%, ranking 181 out of 8,058. Since its inception, the fund has achieved a return of 226.3% [2] - The fund manager of Nuoan Multi-Strategy Mixed A is Kong Xianzheng, who has a cumulative tenure of 5 years. The total asset scale under his management is 5.608 billion CNY, with the best fund return during his tenure being 80.68% and the worst being -16.74% [2]

Group 1 - On November 21, Kaichun Co., Ltd. saw a stock price increase of 1.42% with a trading volume of 287 million yuan [1] - The financing data for Kaichun on the same day indicated a financing purchase amount of 41.43 million yuan, with a net financing purchase of 14 million yuan [1] - As of November 21, the total balance of margin trading for Kaichun was 72.11 million yuan, accounting for 2.80% of its circulating market value, which is above the 80th percentile level over the past year [1] Group 2 - As of September 30, the number of shareholders for Kaichun was 9,788, a decrease of 17.19% compared to the previous period [2] - For the period from January to September 2025, Kaichun reported a revenue of 229 million yuan, a year-on-year decrease of 22.81%, and a net profit attributable to shareholders of 366,900 yuan, down 92.15% year-on-year [2] - Since its A-share listing, Kaichun has distributed a total of 60 million yuan in dividends, with 50 million yuan distributed over the past three years [2]

Core Insights - In the first ten months of this year, China established 53,782 new foreign-invested enterprises, representing a year-on-year increase of 14.7% [1] - The actual utilized foreign capital reached 621.93 billion yuan [1] Industry Analysis - In terms of industry, the actual utilized foreign capital in the manufacturing sector was 161.91 billion yuan, while the service sector saw 445.82 billion yuan [1] - High-tech industries attracted 192.52 billion yuan in foreign investment, with significant year-on-year growth in specific sectors: e-commerce services increased by 173.1%, medical instruments and equipment manufacturing by 41.4%, and aerospace equipment manufacturing by 40.6% [1] Source Country Insights - Foreign investments from the UAE, the UK, and Switzerland increased by 48.7%, 17.1%, and 13.2% respectively, including data from free port investments [1]

Group 1 - The core viewpoint of the news is that Kaichun Co., Ltd. has seen a significant increase in its stock price, rising by 6.61% to reach 33.85 CNY per share, with a trading volume of 1.09 billion CNY and a turnover rate of 6.69%, resulting in a total market capitalization of 2.708 billion CNY [1] - Kaichun Co., Ltd. is located in Shanghai and was established on December 2, 2008, with its listing date on May 28, 2021. The company primarily provides comprehensive e-commerce services and customer relationship management services for well-known domestic and international brands, with 100% of its main business revenue coming from e-commerce [1] Group 2 - From the perspective of major fund holdings, one fund under CITIC Prudential holds a significant position in Kaichun Co., Ltd. The CITIC Prudential Prosperity Select Mixed A Fund (020151) held 75,600 shares in the third quarter, accounting for 0.42% of the fund's net value, making it the fifth-largest holding [2] - The CITIC Prudential Prosperity Select Mixed A Fund has achieved a return of 50.34% year-to-date, ranking 721 out of 8,136 in its category, and a return of 49.32% over the past year, ranking 619 out of 8,056 [2] - The fund manager, Wang Ying, has been in the position for 8 years and 281 days, with the fund's total asset size currently at 4.904 billion CNY. The best return during Wang Ying's tenure is 52.85%, while the worst return is -8.42% [2]

Core Insights - Wangku Group, a leading county-level industrial internet operator in China, has introduced Junziqian to enhance digital transformation through electronic contracts [1][2] - The platform has registered 19 million small and medium-sized enterprise members, with 2 million certified members and 300,000 active members, facilitating over 650 billion yuan in online transactions in the past three years [1] - Junziqian's electronic contract service significantly improves transaction efficiency and security for thousands of SMEs and suppliers on the Wangku platform [2][3] Group 1 - Wangku Group focuses on online supply chain applications for single product advantages, providing services such as online procurement, wholesale distribution, and customization [1] - The introduction of Junziqian allows for online signing of contracts, enhancing compliance and efficiency in B2B transactions [2][3] - The platform aims to create a comprehensive e-commerce service ecosystem, supporting SMEs in their digital transformation through various large-scale initiatives [1] Group 2 - Junziqian's electronic contracts streamline the process of drafting, modifying, and signing agreements, reducing management costs and legal risks [3][5] - The integration of blockchain technology enhances the reliability of transactions and reduces the likelihood of information fraud [5] - Junziqian collaborates with authoritative institutions for legal disputes, ensuring that electronic contracts can serve as valid evidence [5][6]

Core Viewpoint - In the first three quarters of this year, China has seen a significant increase in foreign investment, with a total of 48,921 new foreign-invested enterprises established, marking a year-on-year growth of 16.2% [1] Group 1: Foreign Investment Statistics - In September, the actual use of foreign capital increased by 11.2% year-on-year [1] - The manufacturing sector attracted 150.9 billion yuan in actual foreign investment [1] - The service sector attracted 410.9 billion yuan in actual foreign investment [1] Group 2: High-Tech Industry Investment - The high-tech industry received 170.8 billion yuan in actual foreign investment [1] - Specific sectors within high-tech saw substantial growth: e-commerce services grew by 155.2%, aerospace equipment manufacturing by 38.7%, and medical instruments manufacturing by 17% [1]

Core Viewpoint - A new individual business entity named Yuxi City Hongta District Jiasheng E-commerce Service Center has been established, focusing on various electronic and rental services [1] Company Summary - The legal representative of the newly established business is Kang Yu [1] - The registered capital of the company is 200,000 RMB [1] - The business scope includes general projects such as office equipment leasing services, rental services (excluding licensed rental services), and leasing of computer and communication equipment [1] Industry Summary - The company is involved in the manufacturing and retail of electronic components and electromechanical components [1] - It also engages in the wholesale of electronic components and sales of electronic special materials [1] - The business is permitted to operate independently based on its business license, excluding projects that require approval [1]