VALA (02051): A total of 420 vala vehicles were delivered to ordering customers in the third quarter.

VALA (02051) announced that in late September 2026, the third vala model jointly designed and developed through in-depth cooperation between the Group and Liuzhou WULING MOTORS Industrial Co., Ltd. (Wuling Industrial) the vala kcar commenced deliveries to its first batch of owners. With the successful delivery of the vala kcar, the Group's vala vehicle product matrix will be further enriched, covering a broader user base and diversified usage scenarios. Among them, the vala kcar, with its more compact body layout and flexible, versatile functional space, precisely targets incremental niche scenarios such as short-distance urban travel and parent-child activities. The Group is working with Wuling Industrial to enhance production capacity and the delivery system, providing vala kcar owners with better products and service experiences. In the third quarter of 2026, the Group cumulatively delivered 420 vala vehicles to ordering customers. This includes 90 vala kcar models and 330 other vala vehicle models. The Group has pioneered a "co-creator" model for vehicle sales, focusing on recruiting high-quality vala owners who are passionate about the vala lifestyle and willing to share, to join the co-creator team, establishing a word-of-mouth dissemination and sales network covering Wuxi Online Offline Communication Information Technology Co., Ltd. As of September 30, 2026, the Group has successfully recruited 888 co-creators, who promote and sell vala vehicles through their personal experience and social media influence. With the continuous expansion of the co-creator scale and the steady growth in vehicle deliveries, the vala mobile store model has begun to take shape, enabling the vala brand to reach more potential customers who aspire to the vala lifestyle. As the co-creator system continues to expand, to meet potential customers' demand for diversified vala vehicle experiences, the Group, in addition to relying on the mobile store experience network formed by co-creators, has further established self-operated vala underground city stores. The vala underground city stores are centered on a "full-scenario user experience" and are a composite business format integrating vala vehicle displays, car lifestyle merchandise and accessories, and offline interaction among owner communities. As of September 30, 2026, the Group has opened vala underground city stores in 20 major domestic cities and has signed contracts with property owners in multiple potential cities, with subsequent stores to be opened successively. These stores aim to create a one-stop high-quality experience space for vala owners and potential customers, integrating vehicle viewing, selection, usage, and enjoyment, as well as car enthusiast exchanges, building a brand ecosystem that combines practicality and emotional connection. vala club is a lifestyle community built around vala vehicles and serves as a core bond connecting owners to a new lifestyle. As of September 30, 2026, nearly 1,000 vala club events have been held cumulatively. vala club not only creates exclusive community services for vala owners but also sincerely welcomes non-vala owners to experience the beautiful lifestyle advocated by vala. The Group hopes to use vehicles as a medium to build a like-minded communication circle for car owners, enabling enthusiasts to explore together China's lesser-known secret destinations that are accessible by self-driving and suitable for parked living, unlocking diverse experiences of a beautiful life along the way. The Group has launched a WeChat mini-program "valalife" for vala vehicles, offering diversified ordering and cooperation options. As of September 30, 2026, the valalife mini-program has cumulatively attracted approximately 210,000 registered users. In addition, with its unique space design and car lifestyle proposition, the vala brand continues to receive widespread market attention and has generated enthusiastic responses across major social media platforms. As of September 30, 2026, vala vehicles have a total of approximately 4.49 million followers across all social media platforms, with cumulative video views exceeding 1.5 billion. The vala vehicle launched by the Group is China's first factory-installed pop-top new energy multi-purpose vehicle, pioneeringly integrating three core elements: a tent-style sloped roof structure, LEGO-style modular design, and a high-quality entertainment system. The Group is committed to building core competitive barriers through "heavy product definition + asset-light intelligent manufacturing + multi-dimensional channels + strong scenario ecosystem," leading the new energy mobile lifestyle track with innovation, aspiring to become the "pioneer of Chinese electric vehicle lifestyle," driving the evolution of vehicles from a mere means of transportation into a movable third living space, and creating new scenarios that seamlessly connect the city and nature. With the philosophy of "mobile space reconstructing life scenarios," vala vehicles can flexibly switch scenarios according to owner needs: it can serve as a living platform, satisfying diverse usage scenarios such as outdoor camping, office meetings, business negotiations, parent-child entertainment, dining and rest, gatherings with friends, movie watching and karaoke, and outdoor travel, bringing owners a comfortable, convenient, and personalized multi-functional space, opening up infinite possibilities for extending urban lifestyles; it can also serve as a business and production tool, flexibly transforming into mobile shops, coffee trucks, beauty cabins, market stalls, and other diverse commercial formats, effectively expanding owners' business scenarios and service boundaries, becoming an innovative carrier empowering mobile commercial operations.