As the morning mist dissipates and the echoes of the New Year's bell fade, we stand at the pivotal point where time transitions, looking back on Sellers Union Group's journey of exploration and progress over the past year. This year, the Group, like a whale shark braving the waves, has advanced on multiple fronts—pioneering new business, solidifying our organizational structure, and forging a strong cultural foundation—achieving remarkable success. We invite you to review this year-end report card, to follow the footprints of time, and to read the powerful chapter of our growth and transformation over this past year.

1.Business Track

Deepening the Foundation of General Trade Exports: Driving steady performance growth through large-scale operations and supply chain integration.

As the Group's core B2B foreign trade sector, our business scale exceeds US$1 billion. Our market spans over 100 countries across Europe, the Americas, Asia, Africa, and Australia, serving more than 3,000 premium global clients, forming large-scale advantages, market-sensitive touchpoints, and a multi-dimensional network. Leveraging new digital trade channels, we actively explore and develop emerging clients, including well-known industry brands, large retailers, and new online sellers. Focusing on categories such as household products, office stationery, toys & gifts, and kitchen & tableware, we integrate diverse business models including OEM/ODM/OBM and market procurement trade. Relying on efficient, agile, and responsive supply chain services, we achieve full-chain integration and value synergy from manufacturing to consumption.

Consolidating Cross-Border E-commerce as the Main Track: Driving sustained business growth through full-link operations and consumer responsiveness.

As the Group's B2C cross-border e-commerce sector, our business scale exceeds US$600 million. Cross-border operations focus on specialized vertical categories like outdoor leisure, indoor home furnishings, and fitness equipment. We have built a multi-dimensional matrix across major global e-commerce platforms, deeply operating on Amazon, Walmart, Wayfair, etc., while actively advancing a social media-driven operation strategy for our independent websites, gradually cultivating our own traffic and user base. With our U.S. overseas warehouses as central nodes, connected to key markets like Canada, Germany, the UK, and Japan, the coordinated operation of self-operated, partner, and third-party platform warehouses has significantly improved last-mile delivery cost efficiency and after-sales responsiveness.

Building New Pathways in the Foreign Trade Ecosystem: Driving ecosystem enterprise growth through systematic empowerment and deep value synergy.

As the Group's strategically positioned ecosystem sector, the comprehensive business scale reaches US$400 million. It focuses on优质 enterprises within international trade, trade services, and the value chain, dedicated to driving performance growth through ecosystem synergy, actively exploring strategic innovation to lead enterprise development, and helping ecosystem enterprises break through growth bottlenecks. We have constructed a full-stack empowerment system encompassing market research, online marketing, digital technology, branding, and risk management. Using cognitive elevation, operational synergy, and targeted empowerment as effective pathways, we help ecosystem enterprises enhance strategic capabilities, operational efficiency, and innovation levels. The ecosystem effectively promotes resource sharing and value co-creation, building a new collaborative foreign trade ecosystem.

2.Organizational development

New Momentum Across the Board: Subsidiary Companies Forge the Group's Core Growth Pole.

Sellers Union Group continues to deeply operate its vertical enterprise segments through its unique dual-line management model. In 2025, over 10 directly-managed group companies exceeded US$100 million in revenue. New divisions including Sail, Uxuan, Uzhi, and Umeng were established. The Group has built a global network covering key domestic cities and locations including Vietnam, Japan, Poland, France, Brazil, the Philippines, and the UAE. Overseas teams primarily engage in global sourcing and sales, developing new channels, cross-border e-commerce customer service, and overseas warehouse operations; domestic teams across the country focus on supply chain management, order tracking and execution, quality control, and cross-border e-commerce operations.

Ecosystem Expansion: Outstanding Enterprises Unite to Shape the New Sellers Union Business Ecosystem.

Ecosystem enterprises continue to expand and upgrade, with successful additions like Sanyan Consulting, Xuge Trading, Longhe Warehousing, Kaiyang International, Jiulong International, and Xiujiang Furniture. Currently, the Sellers Union ecosystem comprises over 20 enterprises, with businesses spanning export trade, cross-border e-commerce, international logistics, travel and team building, digital marketing, pet food manufacturing, overseas warehousing services, innovation park operations, photovoltaic new energy, IoT software, smart homes, painting tools export, trendy toy retail chains, store display design, strategic consulting services, logistics safety equipment, and children's creative products. The ecosystem has formed a development pattern of industry chain integration, mutual empowerment, and value co-creation.

Systematic Empowerment: Building a Two-Way Synergy Mechanism Between Functional Shared Services and Business Units.

Group functional departments have innovated their organizational structure, establishing departments for Strategic Investment, Market Research, Online Marketing, Globalization Operations Center, Trade Digitalization Research, and Corporate Culture Research, building a systematic functional shared services platform capable of sustainable empowerment. Through a "political commissar" mechanism, functional departments deeply engage with business companies, effectively breaking down information silos, promoting resource flow, and achieving a role transition from professional control to frontline empowerment. Through real-time demand response and interactive empowerment, a mutually reinforcing parenting effect between Group functions and business units has formed, driving functional departments to redefine their role orientation from cost centers to value creators.

3.Talent development

Stable Leadership Talent Pipeline: Steering Strategic Execution.

The Group's talent system construction is progressing steadily, with a core management team possessing both stability and extensive experience. 17 new partners were added during the year, bringing the total to 167. The partnership mechanism has operated stably for over 20 years. The average tenure of partners exceeds 10 years, and the average management span of partners is over 20 people, forming the core strength for strategic decision-making and execution. There are over 250 managers at the manager level and above, with an average age of over 30, indicating a significantly younger union. This well-structured and experienced team has played a central role in key areas such as business innovation and organizational development, providing a solid talent guarantee and organizational resilience for the Group's sustainable development.

Diverse Talent Structure: Consolidating Team Strengths.

The Group's total employee count exceeds 4,000, with the post-80s generation accounting for about 20%, post-90s about 45%, and post-00s about 30%. Throughout the year,

over 60 graduates from 985 and 211 universities were recruited, alongside over 100 professionals through social recruitment, injecting high-potential strength into various business segments and functional departments. expert team has been formed, comprising over 100 digital technology experts, over 200 R&D and design personnel, over 1,000 employees with CET-6 certification, and over 200 professionals with minor foreign language skills. This high-quality, diverse, and youthful talent pool provides continuous momentum for global operations through technological innovation, R&D design, and cross-border communication.

System Empowerment: Stimulating Organizational Vitality.

Sellers Union College systematically builds an integrated development system encompassing Strategy, Operations, Organization, and Talent. From a strategic perspective, the "Strategy House" framework is internalized through strategy workshops, establishing closed-loop management and tracking mechanisms. Organizationally, in-depth business consultations, systematically serving dozens of business departments, forming comprehensive diagnostic and continuous follow-up tools. Operationally, innovating HRBP working mechanisms strengthens, process management, and operational efficiency. From a talent perspective, over 4,000 training attendances were completed throughout the year, with more than 300 courses developed and over 100 lecturers . Promoting the output of this empowerment system enhances the overall organizational capability of Sellers Union ecosystem enterprises.

4.Corporate Culture

Sellers Union Month Carnival: Uniting Through Culture, Resonating Across Five Locations, Activating New Vitality in Organizational Culture.

The Group comprehensively upgraded Sellers Union Week to the Sellers Union Month Carnival. In September 2025, through a coordinated multi-location format, we successfully created a month-long corporate culture feast. This feast, featuring a series of activities, attracted enthusiastic participation from numerous new and seasoned employees, generated widespread dissemination across platforms, and vividly demonstrated and vitality of Sellers Union's culture. The spiritual strength of the enterprise sprouted and grew through participation in these activities, not only nourishing organizational vitality but also transforming intangible belonging and identity into team cohesion, injecting a continuous stream of momentum into the team'sforward.

Interest Club Activities: Bonding Through Shared Interests, Building Bridges with Emotion, Weaving New Connections of Camaraderie.

Interest clubs have gathered like sparks igniting a flame. They include the Green Field Club (football), Billiards Club, E-sports Club, Music Lovers Club, Tennis Club, Table Tennis Club, Translation Club, Reading Club, Basketball Club, Runners Club, Designers' Home, Dance Club, Swimming Club, and Badminton Club. Over 300 new members joined, injecting fresh vitality into these clubs. More than 200 activities were held throughout the year, with thousands of participants. These clubs not only provide fertile ground for interests and hobbies to flourish but also catalyze cross-departmental collaboration in a relaxed atmosphere, transforming shared interests into work well-coordinated, like interwoven threads of connection, laying a solid foundation for building a cohesive organizational culture.

Corporate Social Responsibility: Upholding Goodwill, Doing Our Part, Integrating Public Welfare into the Developmental DNA.

In its development, Sellers Union Group consistently practices a culture of goodwill, adhering to the core values of being kind to others, giving back to society, and caring for employees. We perfect our public welfare system covering areas such as poverty alleviation, educational support, and caring for the elderly and young. Annual cash donations exceeded 2 million RMB, with cumulative cash donations to date exceeding 60 million RMB. Through Normalize internal welfare initiatives and dock external projects, the Group actively fulfills its corporate social responsibility. Public welfare practices, while contributing to social care, beauty, and education, also enhance organizational cohesion and pride, achieving a positive cycle between enterprise development and social value.

5.Annual charitable activities

In February 2025, donated 100,000 RMB to the Ningbo Charity Federation to support the "Xingbao" project, providing care and assistance for families of autistic children.

In June 2025, donated 1 million RMB to the Education Development Foundation of NingboTech University to support talent cultivation, cultural research, and infrastructure development.

On July 3, 2025, donated 200,000 RMB to the Xu Pingju Education Fund at Fenghua Xiwu Middle School to contribute to school development and student growth.

On August 18, 2025, donated 200,000 RMB to Ningbo University for the Aged to support the development of educational and cultural programs for senior citizens and stimulate the potential of "silver-haired talent".

The internal "Goodwill Fund" provided nearly 600,000 RMB in annual assistance to 40 employees and their family members in need.

As Time Flows, Our Original Aspiration Remains Steadfast; The Journey is Long, Only Forged Through Endeavor.

From the expansive reach of our business footprint to the strategic deployment of our talent matrix; from the spark of our culture igniting a prairie fire to the warm embrace of our charitable endeavors. Every achievement bears the imprint of Sellers Union people striving forward; every breakthrough embodies the company's pursuit of operational excellence. As the first light of the new year shines upon our path ahead, Sellers Union Group will continue to ride the wind and carve the waves with the prowess of a whale shark, to unite our strength with the founding vision of shared growth and mutual prosperity, and to gather our ecosystem with the broad-mindedness of mutual support, writing a new chapter that surpasses the past amidst the ever-changing tides of globalization.