VSING (08292) plans to establish a strategic partnership with Yun Cang Winery to achieve resource complementarity and further improve the entertainment store service system.

VSING (08292) announced that on January 21, 2026, the group signed a memorandum of understanding with Hainan Cloud Cellar Winery Limited. The two parties have reached a preliminary framework for potential strategic cooperation. According to the memorandum of understanding, the two parties plan to carry out strategic cooperation based on their respective resource advantages. The preliminary intentions for cooperation include: 1. Strategic supply: Cloud Cellar Winery intends to act as a strategic supplier of alcoholic beverages for the company's entertainment venues, providing a series of alcoholic beverage supply services. 2. Market synergy: Cloud Cellar Winery plans to leverage its mature distributor system in mainland China to assist the company's store investment and partnership as well as the market promotion of the music AI platform. 3. Resource complementarity: The two sides consider leveraging their respective resource advantages to explore more cooperation possibilities to create synergistic effects. Cloud Cellar Winery is a wine sales company that covers a variety of brands including wine, whiskey, brandy, liquor, craft beer, etc. It is a comprehensive wine wholesale and service platform. Its main business is in mainland China, and it has successfully expanded into markets such as Hong Kong, Macau, Indonesia, and Australia. The board of directors believes that Cloud Cellar Winery has a rich product system and a sound market channel in the field of alcoholic beverage supply, while the company has core advantages in AI music services and global entertainment venue layout. Strategic cooperation between the two parties can achieve resource complementarity and synergies, help the group further improve its entertainment venue service system, expand market influence, and align with the company's long-term development strategy and overall interests of shareholders.