(December 16, 2025) China Qidian Guofeng Holdings Limited (“Qidian Guofeng” or the “Company”, Stock Code: 01280.HK) announced that it has completed the full acquisition of an AI technology company whose core business is interest-based e-commerce AI empowerment services—Shanghai Huiliu. All conditions precedent has been fulfilled, and the transaction was formally completed on December 15, 2025. Following completion, the target company has become a wholly owned subsidiary of Qidian Guofeng, and its financial results will be consolidated into the Group’s financial statements, injecting new growth momentum into the Group’s future development.

According to the acquisition agreement, the Company has formally allotted and issued consideration shares to the vendor (or its nominee(s) pursuant to the acquisition agreement) at an issue price of HKD 4.89 per consideration share, totaling 94,069,530 shares. Prior to completion, the Company had 1,837,256,128 issued shares. The consideration shares (94,069,530 shares) represent approximately 5.12% of the Company’s existing issued share capital before completion, and approximately 4.87% of the Company’s issued share capital as enlarged by the allotment and issuance of the consideration shares immediately after completion.

This acquisition marks a key step in Qidian Guofeng’s strategic upgrade. Through the deep integration of AI technology, it systematically promotes the Company’s transformation from a traditional business operator into an AI-driven new consumption ecosystem enterprise.

Integrating AI Capabilities to Build a Smart Consumption Ecosystem

As stated in the Company’s announcements, the target group, Shanghai Huiliu, is a technology enterprise focused on “interest-based e-commerce AI empowerment.” It possesses self-developed algorithms, multi-dimensional intelligent systems, data processing capabilities, and intelligent solutions for live-streaming e-commerce, and has already established a mature commercialization model. Notably, in the first ten months of 2025, its revenue increased to RMB 46 million (same below), representing a significant increase compared with RMB 19 million in the first half of 2025. Based on this, net profit for the first ten months of 2025 is also expected to increase substantially on a period-on-period basis compared with RMB 6.05 million recorded in the first six months of 2025.

For Qidian Guofeng, the value of this acquisition does not lie in obtaining a single specific technology, but in further optimizing its foundational capability structure through AI empowerment. Shanghai Huiliu has matured operational service systems in both data analytics and live-streaming e-commerce. It is able not only to provide daily operational management and directly participate in product sales, but also to conduct user behavior analysis and automatically generate short-video and live-streaming scripts through its self-developed AI algorithms, achieving precise matching among products, content, and audiences within the interest-based e-commerce ecosystem. At the same time, it can utilize its data processing capabilities and AI tools to enhance the overall efficiency of e-commerce and live streaming.As these AI capabilities are gradually embedded into Qidian Guofeng’s OMO online–offline integrated business processes, the sauce-aroma baijiu business will become more data-driven and precise in areas such as user insights, interest matching, and content generation, and is expected to extend to other business lines of the Group, forming a more comprehensive closed loop of a new consumption ecosystem.

AI as the Core, Driving a New Future Growth Curve

Following the completion of this AI company acquisition, Qidian Guofeng’s future growth curve will become clearer and more complete. AI is evolving from a technical tool into a core driving force for the Company’s business growth, ecosystem construction, and capital value enhancement. Through this acquisition, Qidian Guofeng has directly incorporated AI technological capabilities into the Group through capital mergers and acquisitions, enabling AI to serve as a foundational infrastructure supporting both internal business collaboration and external customer expansion, and is expected to gradually form a technology capability matrix covering consumption-related business scenarios. With the continuous improvement of AI deep-learning capabilities and the ongoing evolution of data analysis and decision-making capabilities, Qidian Guofeng’s multi-line business synergy is expected to further achieve cost reduction, efficiency enhancement, and accelerated expansion. Accordingly, its comprehensive strength in the new consumption sector will be enhanced, and its transformation path toward becoming an “AI-driven new consumption ecosystem enterprise” is also expected to deliver promising prospects.