Shang Tang: The Group is expected to record a profit of about RMB 500 million to RMB 700 million in the first half of 2026, while the six-month period ending June 30, 2025 will record a loss of approximately RMB 1,489.2.7 billion. The Group's adjusted net loss for the first half of 2026 is expected to decrease by 60% to 70% year-on-year compared with the adjusted net loss for the first half of 2025, reflecting a further increase in the year-on-year narrowing of adjusted net loss in the first half of 2026 compared with the year-on-year narrowing for the year ended December 31, 2025.

Shang Tang: The Group is expected to record a profit of about RMB 500 million to RMB 700 million in the first half of 2026, while the six-month period ending June 30, 2025 will record a loss of approximately RMB 1,489.2.7 billion. The Group's adjusted net loss for the first half of 2026 is expected to decrease by 60% to 70% year-on-year compared with the adjusted net loss for the first half of 2025, reflecting a further increase in the year-on-year narrowing of adjusted net loss in the first half of 2026 compared with the year-on-year narrowing for the year ended December 31, 2025.