IR Event: Chuling Shares Builds Enterprise AI Digital Employee Matrix

Recently, Chuling Shares conducted institutional research sessions and earnings briefings. Representatives from Zhongding Asset, CITIC Securities, Capital Fund, Jiading Capital, and Tianyidao Private Equity visited the company for in-person discussions, while other investors participated online in the 2025 annual earnings briefing.

During the interactive session, both parties discussed the progress of Chuling Shares' enterprise intelligent computing network business and performance for year 2025, among other matters.

· On-site Institutional Survey

1 What are the methods companies use to acquire orders in the market?

Answer:Key channels include: (1) deep collaboration with carriers (joint promotions and co-developed solutions) to directly reach government and enterprise clients; (2) leveraging our existing IMS and Weijia customer base. With over 10,000 IMS customers nationwide, these represent our core target market; (3) partnerships with distributors and system integrators; (4) direct enterprise visits; and (5) online marketing campaigns.

2: What is the breakdown of hardware and software in your company?

Answer:In 2025, software services accounted for 59.4% and communication equipment for 32.65%. Software services have surpassed hardware, and the share of future intelligent application services is expected to gradually increase.

3 Which products has the company launched for deploying AI digital employees?

Answer:Chuling's Enterprise AI Digital Employee Matrix delivers a full-stack digital intelligence solution spanning "Network, Data, AI, and Scenario Applications," empowering enterprises with a closed-loop system from technical foundations to business value. In 2025, the company advanced its enterprise AI employee platform by enhancing multi-agent collaboration, data processing, model services, and scenario applications, establishing a foundational platform. Solutions such as Business Perception Agents, Fault Diagnosis Agents, Network Operations Agents, AI Process Assistants, and AI Expense Reimbursement Assistants have already been deployed and adopted by customers.

What is the progress of the lawsuit involving 4 Chongqing Beite?

Answer:Chongqing Bet is currently involved in two cases. First, the litigation over Chongqing Bet's operating rights: the company has won the second instance and is now enforcing a court order to change the legal representative, aiming to secure management control of Chongqing Bet as soon as possible. Second, an equity dispute between the company and Chongqing Bet, which is still pending judgment by the Hangzhou Arbitration Commission. Tianjian Certified Public Accountants (Special General Partnership) has conducted a judicial audit of Chongqing Bet's financial data for 2019 through 2021 and issued a judicial appraisal report. A further hearing will be scheduled.

5: What is the company's remaining goodwill?

Answer:Goodwill remaining as of 2025/12/31: 432.13 ten-thousand.

6: Does the company have any M&A plans or market capitalization management plans?

Answer:The core objective of corporate market value management is to achieve simultaneous growth in company performance and market capitalization. Key approaches include enhancing core competitiveness, expanding market reach, improving performance, and conducting value communication. Mergers and acquisitions remain under consideration; however, they will be approached with greater caution than before, prioritizing business partnerships with companies that align with our strategic direction and offer complementary capabilities, ensuring the business model is validated first.

· 2025 Annual Performance Briefing

1: Does the company anticipate any significant asset impairments in the future?

Answer:Hello. The company 2025 conducted an asset verification at the end of the year. As stated in the company's 2025 annual report, all credit impairment losses and asset impairment losses have been fully accrued. There will be no significant future asset impairment losses. Thank you for your question.

2. What is the company's future business direction?

Answer:Hello. Our company is committed to the strategic direction of "solidifying our position in the carrier market, aggressively expanding into the enterprise market, and building a second growth curve." Leveraging high-standard technical expertise in AI, data, computing power, and networking within the carrier industry, we are strengthening our technical capabilities and integrating AI solutions. We provide independent digital intelligence deployment solutions for large and medium-sized enterprises, while offering NaaS + SaaS solutions for small and medium-sized enterprises. This approach builds robust AI architecture and intelligent computing network capabilities for the enterprise sector. Thank you for your question.

3: Has the company entered the satellite communications sector? If so, what progress has been made?

Answer:The company is actively expanding into the satellite communications sector by developing a user information and internet log query system. This includes providing support services for China Telecom's Tiantong-1 satellite system, enabling user data push, signaling analysis, and data retrieval to ensure stable high-throughput satellite network operations. Leveraging our technical expertise, we have also built an integrated monitoring and service assurance system for both geostationary and low-earth orbit satellite-ground networks, along with signaling analysis capabilities. However, we do not engage in the design, development, manufacturing, launch, or commercial aerospace R&D and production activities. Thank you for your question.

4: What caused the company's Q1 performance decline?

Answer:Hello. The slight decline in our first-quarter performance compared to the same period last year is primarily due to our strategic focus on core businesses and the reduction of non-core activities, which led to lower revenue. Additionally, increased hardware costs for certain projects this period reduced gross margin, resulting in a slight loss. Moving forward, we will strengthen our expansion in core areas to achieve profitability. Thank you for your question.