Shenzhen Glacier Network Co., Ltd. (hereinafter referred to as "the Company") has approved the proposal on cash management using idle self-owned funds at the sixth meeting of the fifth Board of Directors, the fifth meeting of the fifth Supervisory Board, and the 2024 Annual General Meeting of Shareholders. Given the stable operating conditions and sound financial status of the Company, and in accordance with the relevant regulations such as the "Shenzhen Stock Exchange GEM Stock Listing Rules" and the "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of GEM Listed Companies," the Company and its subsidiaries are authorized to use idle self-owned funds not exceeding RMB 3 billion for cash management. This is intended for purchasing cash management products or wealth management products with high safety, good liquidity, and a maximum investment period of no more than 12 months. The purchasing channels include but are not limited to banks, securities companies, and other financial institutions. This authorization is valid for one year from the date of approval by the shareholders' meeting, and within the specified period and limit, the funds can be used in a rolling manner. The Chairman of the Board is authorized to finalize and sign relevant implementation agreements or contracts, and the Chief Financial Officer of the Company will handle related matters. For specific details, please refer to the announcements disclosed by the Company on April 22, 2025, and May 16, 2025, on the Giant Tide Information Network (http://www.cninfo.com.cn) (Announcement No.: 2025-013, 2025-014, 2025-019, 2025-036).
- Redemption of Wealth Management Products
On November 27, 2025, the Company used idle self-owned funds of RMB 30 million to purchase the Bai Rui Trust Co., Ltd. Bai Rui Zhong Jin Xin Bo No. 94 Collective Fund Trust Plan (Product Code: XB941B). For details, please refer to the announcement disclosed by the Company on November 28, 2025, on the Giant Tide Information Network (http://www.cninfo.com.cn) (Announcement No.: 2025-078). Recently, the Company has redeemed the Bai Rui Trust Co., Ltd. Bai Rui Zhong Jin Xin Bo No. 94 Collective Fund Trust Plan (Product Code: XB941B), receiving the principal of RMB 30 million and wealth management income of RMB 168,246.58, which meets the expected return. Both the principal and income will be credited on February 26, 2026.