On November 8, Gelonhui announced that Shanghai Ganglian E-commerce Holdings (300226.SZ) and its subsidiary Shanghai Ganglian E-commerce Co., Ltd. (referred to as 'Ganglian e-commerce'), as well as Ganglian e-commerce's subsidiary Shanghai Ganglian Technology Development Co., Ltd. (referred to as 'Ganglian technology'), Shanghai and Yun Logistics Technology Co., Ltd. (referred to as 'And Yun Logistics'), Shanghai Tiejue Machinery Equipment Co., Ltd. (referred to as 'Shanghai Tiejue'), have received a total of 47.01 million yuan in government subsidies from October 1, 2024, to the date of this announcement.

The company plans to include the above-mentioned government subsidies of 47.01 million yuan in the corresponding accounts, with an expected impact on the annual profit of 47.01 million yuan. The final accounting treatment will still be subject to the results confirmed by the annual audit of the accountants.