Merchants South China: Net profit in the first quarter was 432 million yuan, an increase of 51.73% year-on-year.

Commerce NanYou announcement, the first quarter of 2026 operating income 1.568 billion yuan, an increase of 14.19% year-on-year. Net profit was 432 million yuan, an increase of 51.73% year-on-year. Net profit after deducting non-recurring gains and losses was 352 million yuan, an increase of 24.68% year-on-year.