Guangdong Qunxing Toys Joint-stock (002575.SZ): Significant progress made in computing power related projects, delivery completed and accepted.

Guangdong Qunxing Toys Joint-stock (002575.SZ) announced that on January 18, 2024, the company signed a "Computing Power Service Contract" with China Mobile Limited Zhejiang Company (referred to as "China Mobile Limited Zhejiang Company"), to purchase computing power services from them. On June 27, 2024, the company signed a "Supplementary Contract for Phase 2 of the Turing Town Intelligent Computing Power Service Project" with its wholly-owned subsidiary Hangzhou Turing Engine Technology Co., Ltd. (referred to as "Hangzhou Turing Engine") and China Mobile Limited Zhejiang Company. According to the Supplementary Contract, following its signing, Hangzhou Turing Engine will be responsible for making payment to China Mobile Limited Zhejiang Company. Upon completion and acceptance of delivery of the Turing Town Intelligent Computing Power Service Phase 2 project before December 28, 2024, Hangzhou Turing Engine will pay China Mobile Limited Zhejiang Company a final fixed total price of 154 million yuan. As of the disclosure date of this announcement, the project has been delivered and accepted, and Hangzhou Turing Engine has paid 154 million yuan to China Mobile Limited Zhejiang Company on December 26, 2024 as agreed. The company stated that the successful acceptance of this project is a significant milestone achieved under the "Computing Power Contract," which will have a positive impact on the company's operations, help enhance its overall competitiveness, and is in the best interest of all shareholders.