小商品城: 2026年半年度报告（英文版）

            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Stock code: 600415                                                    Stock short name: 小商品城
 Zhejiang China Commodities City Group
                Co., Ltd.
       Semi-annual Report for 2026
                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                           Important Statements
   I.        The Company's board of directors, directors, and senior management guarantee the
        truthfulness, accuracy, and completeness of the semi-annual report, ensuring there are
        no false records, misleading statements, or material omissions, and assume individual
        and joint legal responsibility.
 II.         All directors of the Company were present at the board meeting.
 III.        This semi-annual report is unaudited.
IV.          CHEN Dezhan, Head of the Company, BAO Hua, Principal in charge of accounting,
        and ZHAO Difang, Head of the accounting department (Accounting Manager), declare
        that they warrant the truthfulness, accuracy and completeness of the financial report in
        the semi-annual report.
 V.          Plan for profit distribution or capital reserve into share capital for the current period
        approved by the board of directors
             On August 24, 2026, the Company convened the 9th meeting of the 10th Board of
        Directors, which reviewed and approved the Proposal on the 2026 Mid-Term Profit Distribution
        Plan. The profit distribution plan: based on the total share capital on the dividend distribution
        equity registration date, a cash dividend of RMB 1.00 (tax inclusive) will be distributed for every
        dividend of RMB 548,355,922.60 will be distributed. If there is a change in the total share capital
        of the Company before the equity registration date for equity distribution, it is proposed to
        maintain the per share distribution plan unchanged and adjust the total distribution amount
        accordingly.
VI.          Risk statement with forward-looking representations
        √Applicable    □Not applicable
             The forward-looking representations involved in this Report such as future plans and
        development strategies do not constitute the Company’s substantial commitments to investors.
        Investors should pay attention to investment risks.
VII.         Is the Company’s cash occupied by its controlling shareholder or any of the other
        affiliates for non-operational purposes?
        No
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
VIII.          Has the Company provided external guarantee in violation of the prescribed
        decision-making procedures?
        No
 IX.           Whether there is a circumstance that more than half of the directors cannot
        guarantee the authenticity, accuracy and completeness of the semi-annual report
        disclosed by the Company
        No
  X.           Reminder of major risks
             During the reporting period, the Company did not have any significant risks that would
        affect its continued operations. The Company has provided a detailed description of the
        potential risks it may face in the "Potential Risks" part in Section III "Discussion and Analysis of
        Managers" of this report.
 XI.          Other
        □Applicable   √Not applicable
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                Table of Contents
                                   Accounting statements with the signatures and stamps of head of the
                                   Company, principal in charge of accounting, and head of the
      Documents for                accounting department (Accounting Manager).
       Inspection
                                   The originals of all company documents and announcements publicly
                                   disclosed during the reporting period
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                         Section I. Definitions
For the purpose of this Report, unless otherwise stated in the context, the following terms shall
have the following meanings:
Definitions
MDG                                 means       Yiwu Market Development Group Co., Ltd.
CCCH                                means       Yiwu China Commodities City Holdings Limited
                                                Zhejiang Zhijie Yuangang International Supply
Zhijie Yuangang                     means
                                                Chain Technology Co., Ltd.
                                                Yiwu China Commodities City Property
CCCP                                means
                                                Development Co., Ltd.
                                                Yiwu China Commodities City Property Service
CCC Property Service                means
                                                Co., Ltd.
                                                Yiwu China Commodities City Equity Investment
CCCEI                               means       Co., Ltd. (formerly known as Yiwu China
                                                Commodities City Financial Holding Co., Ltd.)
Yiwu Shanglv                        means       Yiwu Shanglv Investment Development Co., Ltd.
Chouzhou Financial Lease            means       Zhejiang Chouzhou Financial Lease Co., Ltd.
                                                Yiwu Shangbo Yungu Enterprise Management
Shangbo Yungu                       means
                                                Co., Ltd.
                                                Kuaijietong Payment Service Co., Ltd. and its
Kuaijietong, Yiwu Pay               means
                                                payment brand
The Company, the Listed
                                                Zhejiang China Commodities City Group Co.,
Company, the Group, the             means
                                                Ltd.
Group Company
                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     Section II. Company Profile and Financial Highlights
 I. Company profile
   Chinese name                                   浙江中国小商品城集团股份有限公司
   Chinese short name                             小商品城
   English name                                   Zhejiang China Commodities City Group Co., Ltd.
   English short name                             YIWU CCC
   Legal representative                           CHEN Dezhan
II. Contact information
                                      Board Secretary                  Securities Affairs Representative
   Name                      XU Hang                                  HE Zhichao
                             YIWU CCC Group Building, No. 567         YIWU CCC Group Building, No.
   Address
                             Yinhai Road, Yiwu City                   567 Yinhai Road, Yiwu City
   Telephone                 0579-85182812                            0579-85182812
   Fax                       0579-85197755                            0579-85197755
   Email                     Hxu@cccgroup.com.cn                      hezhichao@chinagoods.com
III. Introduction to changes in basic information
     Registered address
                               Province
                               The registered address of the Company at the time of establishment
                               was “No. 51 Huangyuan Road, Yiwu City”;
     Historical changes in the In May 1997, it was changed to "No. 158 Binwang Road, Yiwu City,
     registered address of the Zhejiang Province";
     Company                   In May 2006, the address was changed to "Haiyang Business
                               Building, No. 105 Futian Road, Yiwu City, Zhejiang Province"; in
                               January 2024, it was changed to the current registered address.
     Office address            YIWU CCC Group Building, No. 567 Yinhai Road, Yiwu City
     Postal code at the office
     address
     Corporate website         www.cccgroup.com.cn
     Email                     600415@chinagoods.com
IV. Changes in information disclosure and filing place
    Newspapers selected by the Company China Securities Journal, Shanghai Securities News
    for information disclosure             and Securities Times
    Website for publishing the Semi-annual
                                           www.sse.com.cn
    Report
    Place for access to the Company’s
                                           Securities Department of the Company
    semi-annual report
V. Stock profile
                                                                                         Stock short name
      Type of stock           Exchange        Stock short name         Stock code
                                                                                          before change
                          Shanghai Stock
         A share                                   小商品城                  600415                  No
                            Exchange
VI. Other relevant information
    □Applicable √Not applicable
                     Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 VII. Main accounting data and financial indicators of the Company
（i）        Main accounting data
                                                                                                    Unit: RMB
          Main accounting data                   Jan-Jun 2026           Jan-Jun 2025         YoY change (%)
 Operating revenue                            10,281,542,979.96        7,712,799,130.26                  33.30
 Profits before tax                            2,677,668,054.28        2,147,733,764.28                  24.67
 Net profits attributable to shareholders
 of the Listed Company
 Net profits attributable to shareholders
 of    the    Listed    Company      with      1,823,153,382.74        1,668,174,321.71                    9.29
 non-recurring items excluded
 Net cash flow from operating activities         -128,795,077.94       1,382,854,487.47               -109.31
                                                                                              Change of Jun
                                                 Jun 30, 2026           Dec 31, 2025          30, 2026 over
                                                                                             Dec 31, 2025 (%)
 Net assets attributable to shareholders
 of the Listed Company
 Total assets                                 43,179,320,691.10      44,405,436,378.39                    -2.76
（ii）       Major financial indicators
                                                                Jan-Jun       Jan-Jun
                Major financial indicators                                                  YoY change (%)
 Basic EPS (RMB)                                                     0.36          0.31                 16.13
 Diluted EPS (RMB)                                                   0.36          0.31                 16.13
 Basic EPS after deducting non-recurring gains and
 losses (RMB/share)
 Weighted average ROE (%)                                            8.28           8.03           Up 0.25 ppt
 Weighted     average     ROE     after  deducting
 non-recurring gains and losses (%)
       Explanation of the company's main accounting data and financial indicators
       √Applicable □Not applicable
       previous year, mainly due to an increase in revenue of RMB 1.2 billion from the delivery of
       supporting office buildings and commercial streets of the global digital trade center in this period,
       as well as an increase in commodity sales revenue of RMB 918 million YoY.
       same period the previous year. This was primarily attributable to a YoY decrease of RMB 1.215
       billion in the net cash received from sales of goods and provision of services, mainly driven by
       the collection of Global Digital Trade Center rental income in the prior year, alongside a YoY
       increase of RMB 133 million in taxes paid.
 VIII. Differences in accounting data under domestic and foreign accounting standards
       □Applicable √Not applicable
                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
IX. Non-recurring gains and losses
    √Applicable □Not applicable
                                                                                               Unit: RMB
                    Non-recurring items                           Amount           Remark (if applicable)
   Non-current asset disposal gains and losses,
   including the offsetting portion of the provision for         2,592,703.62
   impairment of assets
   Government grants that are recognized in the
   current profit or loss, excluding the government
   grants that are closely related to the normal
   operation of the Company and provided in a fixed
   amount or quantity and that have a continuous
   impact on the Company's gains and losses
   according to the national policies and certain
   standards
   Except for effective hedging business related to
   the normal operation of the Company, the fair
                                                                                  Mainly due to the
   value gains and losses arising from the holding of
                                                                                  changes in fair value of
   financial assets and financial liabilities by              173,088,221.26
                                                                                  held trading financial
   non-financial enterprises, as well as the gains and
                                                                                  assets
   losses arising from the disposal of financial assets
   and financial liabilities
   Cash occupation fees charged from non-financial
   enterprises that are recognized in the current profit       12,281,917.98
   or loss
   Profits and losses arising from external entrusted
   loans
   Net income from other non-operating activities               1,959,021.11
   Less: effect of income tax                                  47,800,595.93
        Effect of non-controlling interest (after-tax)            559,815.30
                             Total                            156,046,827.41
   For companies that recognize items not listed in the Explanatory Announcement No. 1 on
   Information Disclosure of Companies Issuing Securities to the Public - Non-recurring Profit and
   Loss as non-recurring profit and loss items with significant amounts, and for companies that
   define non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on
   Information Disclosure of Companies Issuing Securities to the Public - Non-recurring profit and
   loss items as recurring profit and loss items, the reasons should be explained.
   □Applicable √Not applicable
X. Companies implementing equity incentive plans or employee stock ownership plans
   may elect to disclose net profit adjusted for the impact of share-based payments
   □Applicable √Not applicable
XI. Other
    □Applicable   √Not applicable
                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         Section III. Discussion and Analysis of Managers
I.       Description of the industry and the Company’s main business during the reporting
     period
         (I) Industry Context of the Company
         In accordance with the Guidelines for the Industry Classification of Listed Companies (2012
     Revision) issued by the China Securities Regulatory Commission, the Company falls under the
     "Business Services" (L72) category within the broader "Leasing and Business Services" (L)
     industry.
         As the world's small commodity trade hub, Yiwu Market consistently ranks among China's
     top comprehensive markets, backed by its massive scale, diverse product categories, and
     massive pool of Chinese and international purchasers. Leveraging robust industrial
     agglomeration and supply chain integration capabilities, Yiwu Market drives the development of
     industrial workers, and builds a solid industrial "moat". Its trade network covers 233 countries
     and regions worldwide, holding a core hub position in the global small commodity supply chain
     system, and providing critical support for China to foster the "dual circulation" development
     paradigm and promote high-quality trade growth.
         (1) Sustained Burst of Market Vitality. As a key window for China's opening-up and a
     core global small commodity trade hub, Yiwu Market continues to play a vital role in trade
     aggregation, resource allocation and industrial driving, spurring coordinated development of
     over 20 industrial clusters across China. Talent and market resources are converging at an
     accelerated pace. In H1 2026, Yiwu newly recruited 40,700 college graduates, marking a
     ranking first among all county-level regions nationwide. Foreign visitors to the city reached
     resident foreign merchants and 110,000 overseas Chinese entrepreneurs, with foreign-invested
     business entities exceeding 10,000. The market sees an average daily footfall of 294,000 (up
     and innovative resources continue to pour in, the driving forces behind the market's
     development are constantly strengthening.
         (2) Continuous Enrichment of Product Categories. As the world's largest small
     commodity distribution center, Yiwu Market has further improved its business formats following
     the operation of the Global Digital Trade Center. It now encompasses 28 major categories and
     comprehensive product supply system. Meanwhile, in response to shifting consumer trends, the
     market leverages its robust capabilities in product innovation and supply chain integration to
     continuously cultivate new China Chic and creative products. Phenomenal bestsellers emerge
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
one after another. Its new product development and rapid response capabilities keep improving,
enabling high-quality products to connect with global markets at a faster pace.
     (3) Accelerated Emergence of New Business Formats. As a frontier for innovation in
trade models and business formats, the Yiwu market pioneered the "Market Procurement
Trade" model, establishing a low-cost pathway for small and micro merchants to access
overseas markets. After more than a decade of practice, this model has become a vital pillar of
Yiwu's foreign trade development. It has driven an almost sevenfold increase in Yiwu's export
volume, accounting for approximately 80% of the city's total export value, and has been
replicated and promoted across 39 specialized markets in 22 provinces nationwide. While
upgrading traditional trade models, Yiwu is accelerating the integration of digital technologies
and physical markets, fostering booming new formats and scenarios including digital trade,
nighttime live streaming, flexible supply chains and cross-border e-commerce. Drawing on its
industrial foundation and trade advantages, Yiwu Market is rapidly expanding into new tracks
such as drones, robots, smart wearable devices and IP trendy products, with active transactions
and notable export growth, continuously expanding new technology-driven consumption
scenarios in the market.
     (4) Diversified Iteration of Trade Ecosystem. As a critical platform for global merchants
and enterprises to conduct small commodity trade, Yiwu Market is advancing in-depth
comprehensive international trade reform, exploring breakthroughs in institutional innovation,
digital trade, open platforms and other fields to continuously unleash reform dividends. In H1
Global Digital Trade Center, it continuously enriched application scenarios such as digital
technology-empowered products and digital technology-empowered trade, enhancing the
market's capability to allocate digital resources. It also improved new-type trade service
systems covering market procurement trade and cross-border e-commerce, boosting trade
facilitation and supply chain collaboration. To date, the city has successfully implemented 21
pioneering reform achievements nationwide, recognized as the "first order," "first case," or "first
initiative" of their kind.
     In the first half of 2026, Yiwu’s foreign trade continued its robust upward trajectory, with
total import and export value reaching RMB 486.42 billion, up 19.9% YoY, as trade volume
expanded further. Exports totaled RMB 420.72 billion, up 17.3%, while imports reached RMB
up 1.4 and 0.4 percentage points from Q1 2026.
     (1) Diversified Market Layout Strengthens Trade Resilience. In the first half of the year,
amid a complex and volatile global trade environment and persistent external uncertainties,
Yiwu continued to demonstrate formidable trade resilience, underpinned by its globalized trade
networks, well-developed industrial chains, and agile supply chain capabilities. Yiwu’s market
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
trade networks now span 233 countries and regions worldwide. While consolidating its
traditional markets of strength, the city has accelerated expansion into emerging markets such
as Africa, Southeast Asia, and Latin America, steadily optimizing its trade partner mix. This
diversified market footprint has effectively cushioned the impact of trade environment
fluctuations. Notably, in the first half of the year, Yiwu's total import and export volume with
Africa, ASEAN, and the EU reached RMB 102.64 billion, RMB 78.21 billion, and RMB 45.81
billion respectively, up 42.7%, 63.5%, and 13.7% YoY.
    (2) Market Procurement Trade Fuels Trade Growth. As a distinctive model for Yiwu's
foreign trade development, the market procurement trade model continued to unleash its
growth potential. In the first half of the year, exports under this model reached RMB 347.25
billion, up 16.4% YoY, maintaining a high share of Yiwu’s total exports and continuing to anchor
overall trade growth. Leveraging the clustering advantages of the Yiwu International Trade City
platform, the market procurement model has effectively lowered the barriers for small and
medium-sized enterprises to participate in international trade, enhanced trade facilitation, and
enabled a wider range of distinctive small commodities to enter global markets efficiently.
Meanwhile, with the continuous improvement of buyer resources, trade service systems, and
logistics support capabilities, Yiwu has progressively built a comprehensive trade ecosystem
integrating exhibition, procurement, payment, logistics, and services, further reinforcing the
strengths of the market procurement model and consolidating Yiwu’s leading position in the
global small commodities trade sector.
    (3) Industrial Strengths Bolster Export Competitiveness. A well-developed industrial
chain system and robust supply chain coordination capabilities form the core foundation of
Yiwu’s sustained trade growth. Anchored in a complete ecosystem spanning manufacturing,
commodity distribution, trade services, and logistics, Yiwu has forged a development pattern of
“small commodities, big industries, and large markets,” boasting abundant product supply
capacity and strong market adaptability that enables rapid responses to shifting overseas
demand. Drawing on its industrial cluster advantages and the digital capabilities of the "World
Yiwu" Commercial Large Model, Yiwu enterprises are able to continuously track and swiftly
capture global consumption trends, seizing market opportunities ahead of competitors. From
Chinese-style summer cooling products that have become highly popular in Europe, to sports
merchandise capitalizing on the hype of the FIFA World Cup in the US, Canada, and Mexico,
and to seasonal categories like Christmas gifts, autumn/winter decorations, and outdoor gear
that align with traditional overseas consumption cycles, these examples fully demonstrate the
rapid adaptability of Yiwu's supply chain to global demand shifts, injecting strong momentum
into the city's foreign trade growth.
    (4) Digital Empowerment Opens Up New Growth Space. Digital transformation
continues to drive the upgrading of Yiwu’s trade model, with cross-border e-commerce and
other new trade formats gradually becoming a key growth engine for foreign trade. On May 15,
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
By leveraging AI large models to unlock the value of trade data, and drawing on digital trade
platforms, cross-border logistics systems, and overseas warehouse networks, the city is
steadily helping Yiwu enterprises improve their efficiency in connecting with global markets,
propelling the evolution of traditional small-commodity trade toward digitalization.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    (II) Business Overview of the Company
    Aligned with the national strategy of building China into a trading power and advancing
high-standard opening-up, the Company actively integrates itself into the “dual circulation” new
development paradigm. Capitalizing on Yiwu's comprehensive international trade reform and
Zhejiang's open economy advantages, the Company is committed to its strategic positioning as
a "Famous Trade Service Platform." The Company is continuously advancing the construction
of its trade service system and accelerating digital, platform-based, and international
development.
    The Company focuses on three core ecosystems: commodity display and trading, market
support services, and trade fulfillment services, and continuously improves its digital trade
infrastructure platform. Centered on reducing trade costs and enhancing trade efficiency, the
Company drives innovation in market systems and upgrades to trade models, helping trade
resources connect efficiently with global markets and achieving a leap from “trading nationwide”
to “trading globally.” These efforts further strengthen the global influence and comprehensive
service capabilities of Yiwu’s small-commodity trade, burnishing the city’s golden brand as the
“World Capital of Small Commodities.”
    Commodity Display and Trading Ecosystem: Encompassing market operation and
self-operated trade; the core vehicle for the Company’s development.
    Market Support Services Ecosystem: Encompassing conventions and exhibitions, hotels,
and related businesses; a vital pillar underpinning trade development.
    Trade Fulfillment Services Ecosystem: Encompassing the Chinagoods online service
platform, overseas brand expansion services, warehousing and logistics, payments, credit
reporting, and factoring, the critical chain link in trade services.
    (1) Commodity Display and Trading Ecosystem
rests with the Company. Under a paid booth-usage model, the Company signs contracts with
merchants for terms of one to five years and collects the relevant fees in advance as stipulated
in the contracts. During the contract term, merchants enjoy the right to use the booths and must
conduct business in accordance with the agreed-upon purposes and may not change the
designated use without authorization. The markets currently operated by the Company include
First to Fifth Districts of the International Trade City, Huangyuan Market, the International
Production Materials Market, and the Global Digital Trade Center.
(Aiximao) as its core brand. Leveraging Yiwu market's abundant source goods and mature
supply chain integration capabilities, the Company has curated over 10,000 imported premium
products and trendy domestic goods across various consumer sectors, including home living
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
and beauty & skincare. This creates a supply chain channel brand that integrates "new fashion,
new consumption, and new applications." Through proprietary trading, the Company further
extends the upstream and downstream segments of the market's industrial chain. While
maximizing platform resource advantages and brand influence, this approach promotes the
synergistic development of trade operations and the market ecosystem, fostering a virtuous
cycle.
    (2) Market Support Services Ecosystem
China Yiwu International Commodities Fair, China Yiwu Import Goods Expo, and China Yiwu
International Forest Products Expo, and operates the Yiwu International Expo Center and the
Quzhou Living Room Exhibition Center. Through sustained cultivation, the exhibition segment
has built an integrated business system spanning in-house exhibition organization, overseas
exhibition participation, venue management, supporting services, and entrusted operations
within the Group. The Company is actively exploring fusion models such as “exhibitions +
cultural creativity,” “exhibitions + industries,” and “exhibitions + global expansion,” extending
exhibition resources into industrial chains, supply chains, and trade chains, and continuously
leveraging the role of exhibition platforms in facilitating trade exchange, serving industrial
development, and promoting openness and cooperation.
the Company runs ten hotels and serviced apartments, and owns two restaurant brands,
Fingertip Canteen and Yandoo Café, building a comprehensive service system covering lodging,
dining, meetings, leisure, and other diverse scenarios. Revenue streams span room sales, food
and beverage sales, merchandise sales, and venue leasing, among other areas. Meanwhile,
the Company continues to refine its multi-channel marketing system covering corporate
accounts, conferences and wedding banquets, and online bookings, deepening digital
empowerment and brand building to steadily enhance hotel operational capabilities and market
competitiveness.
    (3) Trade Fulfillment Services Ecosystem
the Company continues to upgrade Chinagoods, its online comprehensive international trade
service platform, serving 2.1 million small, medium, and micro enterprises along the upstream
and downstream of industry chains worldwide. Driven by trade data integration, the platform
links supply and demand, connects procurement, sales, marketing, and other trade links, and
has built a B2B digital comprehensive trade service platform integrating membership-based
essential services, customized services, AI value-added services, and digital advertising,
advancing the digital upgrading of trade services and strengthening industry-chain resource
integration and coordination.
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
reporting, factoring, and payment licenses, the Company has built a digital financial service
system tailored to the small commodities trade ecosystem. It fully leverages the advantages of
foreign exchange collection and settlement under the market procurement trade model,
continuously enhancing the digital and intelligent service capabilities of the "Yiwu China
Commodities Index." Based on its credit reporting business, the Company integrates and
analyzes data accumulated during daily commercial transactions to form an intelligent credit
evaluation system; through its factoring business, it provides convenient and efficient financing
support for SMEs. Furthermore, the Company has innovated the "Yiwu Pay" brand and
continuously improved its overseas payment channel layout. It has established a diversified
payment and settlement system covering "cross-border RMB + cross-border foreign exchange
+ cross-border e-CNY," promoting the deep integration of digital finance and trade services, and
constantly strengthening financial empowerment for market trade development.
Yiwu Market Project strategy: with one overseas headquarters at the core, supported by five
overseas expansion models, in coordination with two major categories of service providers
(digital supply chains and digital finance) and connected with M global partners, deepening the
implementation of China Commodities City’s Yiwu Market Project strategy. Through model
innovation and service upgrades, the Company keeps pushing beyond the boundaries of
traditional     trade,   transforming    overseas     operations    from   standalone     exhibitions   to
“exhibition-and-sales hubs + warehouse-showroom synergy,” upgrading from traditional
warehousing to a “global warehouse network + supply chain integration” model, and expanding
from single-mode logistics to “trunk-and-feeder combined transport + warehouse-transportation
coordination.” In doing so, it has architected a more precise, efficient, and multifunctional global
trade service network, forming a differentiated overseas footprint of “one plan, one framework,
and one portfolio per continent” and elevating its comprehensive international trade service
capabilities.
oriented toward international trade service needs, the Company continues to refine its
three-warehouse layout (domestic consolidation warehouses, overseas forward warehouses,
and comprehensive bonded warehouses) while coordinating the development of its
cross-border supply chain fulfillment system, creating a “two warehouses and one line” service
model linking “domestic warehouses, international logistics lines and overseas warehouses.”
Meanwhile, the Company is actively developing specialized fulfillment service platforms such as
the international digital logistics market, cross-border e-commerce industrial parks, and
cross-border e-commerce logistics parks, steadily enhancing its national logistics operations
capability and warehouse resource integration. By introducing high-quality supply chain
enterprise resources and leveraging its data-intelligent logistics system, the Company further
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
extends its trade service chain, reinforcing its supply chain service advantage of “global goods,
consolidated in Yiwu, distributed worldwide.”
Description of significant non-core businesses newly added during the reporting period
□Applicable √Not applicable
                    Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
II.       Discussion and Analysis of Operation
          The year 2026 marks the inaugural year of the “15th Five-Year Plan,” the 20th anniversary
      of studying and applying the "Yiwu Development Experience", and an important starting point
      for Yiwu’s new journey of “building a model city and recreating past glory.” During the reporting
      period, the Company remained committed to its core strategy of “Becoming a Famous Trade
      Service Platform.” Driven by the new round of international trade reform and focused on
      creating a benchmark “Market of the Future,” the Company accelerated innovative practices
      under the “Yiwu Development Experience.” It continued to deepen the integration of digital and
      real economies, domestic-international coordination, and supply-demand alignment, propelling
      the market service system toward a leap to being “always available, everywhere present, and
      all-encompassing.”
          In the first half of 2026, the Company recorded operating revenue of RMB 10.282 billion, up
      billion, up 17.05% YoY, maintaining a steady development trajectory. During the reporting
      period, the Company continued to advance its international capital deployment, formally
      submitting an application for a listing of H shares to The Stock Exchange of Hong Kong Limited
      on May 29, 2026. This steadily advances the construction of its overseas capital platform,
      further diversifies its financing channels, and supports the realization of its “comprehensive
      international trade service provider” strategy.
          (I) Continuous Physical Market Iteration, Sustained Dividend Release
          The Company has focused on strengthening its market development capabilities,
      accelerating the transformation of the physical market from scale advantages into advantages
      in quality and efficiency.
          The Global Digital Trade Center, the flagship project of Yiwu’s sixth-generation market,
      saw its market section officially open in October 2025, while the Digital Trade Port and
      remaining functional sections were progressively put into operation by May 15, 2026. Significant
      improvements have been achieved in digital empowerment, expansion of market participants,
      diversification of business formats, buyer clustering, and supporting infrastructure. During the
      reporting period, the market’s fourth floor introduced two emerging categories: smart technology
      products and IP-driven trend merchandise. The Digital Trade Port, structured around three hubs
      (the Data Circulation Center, the Digital Trade Service Center, and the New Product Launch
      Center), has laid out 13 functional sections, including a comprehensive cross-border
      e-commerce service platform and an Africa digital trade service platform, driving digital
      technology empowerment across the full chain of commodities and trade. The Digital Trade
      Port’s IP Service Center has already gathered 185 renowned IP resources, including Disney
      and Sanrio, and more than 68% of merchants in the Global Digital Trade Center own proprietary
      brands or deal in IP products. On the supporting facilities side, the commercial streets have
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
attracted 115 commercial tenants, including several well-known restaurant brands and
Michelin-starred establishments entering Yiwu for the first time. Since its opening, the Global
Digital Trade Center has recorded average daily foot traffic of over 66,000 visits, including more
than 7,000 daily visits by foreign merchants, demonstrating rapid growth momentum.
  Figure 1: Dual-Layer Operational Architecture of the Digital Trade Port at the Global Digital
                                           Trade Center
    In the first half of 2026, market trade sustained a steady upward trend, achieving
synchronized growth in both volume and quality. All operational indicators continued to improve,
with market transaction activity, merchant business confidence, and buyer agglomeration rising
steadily. To attract incremental global buyers, the Company focuses on five primary traffic
acquisition channels: new media, events, exhibitions, overseas expansion, and business travel.
Our precise online new media marketing has reached over 200 million impressions. Offline, we
hosted more than 100 exhibitions and trade promotion events, attracting a total of 1.2 million
incremental buyers. These efforts have continuously consolidated and enhanced the market's
core competitive advantage as a premier global sourcing hub. Furthermore, the AI navigation
and shopping guide system has achieved full coverage across the International Trade City,
accelerating the digitalization and intelligent transformation of our market services. Capitalizing
on the communication impact of the CCTV Spring Festival Gala, we launched the "Shop Global
Goods · Check-in for the Spring Festival Gala" campaign during the holiday. This attracted over
    The market's development resilience continues to strengthen. As the trade structure
and business models undergo continuous optimization, the Yiwu market's ability to withstand
external environmental shifts has been further enhanced. Despite external uncertainties, such
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
as geopolitical fluctuations in the Middle East, the Group has continuously reinforced its Yiwu
Market Project. This is underpinned by Yiwu's distinct advantages, including diversified trade,
comprehensive industrial and supply chains, and the rigid demand for small commodities.
Market operators have proactively expanded into overseas markets and diversified their trade
channel layouts, ensuring that the overall operations of the Yiwu market remain stable and
positive.
    The market's adaptability to evolving demands continues to improve. Market trade is
increasingly characterized by small order sizes, diversification, and high flexibility. According to
market census data, foreign trade orders valued under USD 10,000 currently account for 91.9%,
an increase of approximately 3 percentage points compared to the average over the past three
years. Trade channels continue to expand, with over 70% of merchants now participating in
online trade, and more than 40% having achieved integrated online and offline operations. The
digital transformation of the industry continues to deepen; notably, the hat industry now supplies
goods for over 70% of national hat-related live-streaming sessions. In the ornaments and
accessories sector, over 500 merchants have established long-term partnerships with
universities. Additionally, more than 700 market operators at the Global Digital Trade Center
conduct cross-border live streaming at night, continuously unleashing the market's vitality for
innovation.
    As a key strategic initiative to expand and upgrade the Company's core market business,
the 5th District South Project at the International Trade City will further expand operational
space and enhance the supply of market resources. Focusing on the development of a "3+1"
trade system, the project will establish three core platforms: the "Import-Export-Transit"
Integration    Center,      the      "Trade-Industry-City"       Service      Center,       and   the
"Culture-Business-Tourism" Experience Center. These platforms are designed to attract
high-quality merchants and characteristic industries, optimize the market's functional layout,
and continuously elevate its resource allocation and trade service capabilities. Furthermore, by
introducing new business formats, innovating operational models, and upgrading supporting
services, the project aims to increase output per unit area and overall operational efficiency.
This will cultivate new avenues for future profit growth and inject fresh momentum into the
sustainable development of the Company's core business.
    (II) Robust Capacity Enhancement Driven by Upgrading of Digital Trade Fulfillment
Services
    The Company is deepening the integration of digital and physical realms, accelerating the
comprehensive digital upgrading of trade processes, and building an efficient, collaborative new
digital trade ecosystem.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    With trade data as its core element, the Chinagoods platform focuses on the efficient
matching of supply and demand. It connects key links across the entire value chain, including
product design, display and transaction, international logistics, overseas warehousing, and
financial payments. This promotes the digital allocation of market resources and the
collaborative optimization of trade processes, ultimately building a genuine, open, and
integrated comprehensive digital trade service platform.
    From January to June 2026, the Chinagoods platform added over 360,000 registered
buyers, bringing the total to more than 5.86 million. This has achieved full service coverage for
all market operators and continuously upgraded the platform's capabilities. The "World Yiwu"
Commercial Large Model app has successfully passed the filing for both its dialogue algorithm
and multi-modal content generation algorithm. It has attracted over 15,000 new users, reaching
a total of more than 65,000 users. By constructing high-quality datasets and enhancing
multi-modal capabilities, the platform fully supports the large-scale application of AI-driven
businesses. A total of 11 new AI applications were launched, including "Data Insight,"
"E-Commerce Link," and "AR Space," bringing the total to 25. These AI products have served
over 300,000 users in total, accelerating the fulfillment of core demands throughout the entire
small commodities trade process.
    In terms of digital-physical scenario implementation, the Chinagoods platform deepens the
integration of AI technology with trade scenarios by launching the "Chinagoods AI Navigation"
mini-program. Its service coverage spans Districts 1 through 5 of the Yiwu International Trade
City and the Global Digital Trade Center. As the industry's first cross-building and cross-corridor
navigation implementation, it enables intelligent location tracking across different regions and
floors, improving store-finding efficiency by nearly 70%. The Company has opened up a full
customer acquisition funnel spanning “targeted audience selection—content reach—online
registration—arrival in Yiwu—user data accumulation,” achieving a total of 383,000 impressions
for the Chinagoods platform and, through digital customer acquisition, precisely attracting
    Regarding digital channel empowerment, the Company actively integrates resources from
e-commerce platforms, trade entities, and third-party service providers to build a
comprehensive empowerment system of "training + service + resource docking." We have
jointly conducted 13 cross-border e-commerce training sessions with platforms such as TikTok
Shop, Xiaohongshu (RED), and Wildberries. Additionally, we hosted the E-Commerce
Conference of the Global Digital Trade Center, inviting 20 mainstream platforms, including
Amazon, DHgate, and Shein, to jointly launch the "Global Digital Trade Center E-Commerce
Gravity Acceleration Plan 2.0." The Company has also deepened its “independent website +
short-video platform” marketing model, creating 13 flagship independent website templates
covering industries such as home goods, auto parts, fashion, jewelry and accessories, and
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
small home appliances, publishing 370 pieces of branded video content, and generating over 1
million total visits across social media accounts.
    As the core carrier of the Company's digital financial services, Yiwu Pay leverages the
scenario advantages of Yiwu's cross-border trade to continuously promote cross-border
financial innovation and service capacity building. We are deepening our global business layout
and enhancing our digital payment service standards. To date, Yiwu Pay has established
partnerships with hundreds of mainstream banks worldwide. Our business covers 179 countries
and regions, supports international collection and payment in 29 mainstream currencies, and
our cross-border payment service capacity continues to grow. From January to June 2026, the
transaction volume of our cross-border payment business exceeded USD 2.51 billion.
    During the reporting period, Yiwu Pay successfully obtained both the MSO (Money Service
Operator) license and the TCSP (Trust or Company Service Provider) license in Hong Kong.
The MSO license received its official business permit from the Hong Kong Customs and Excise
Department in May, and we have completed direct interface connections with partner banks,
further enhancing our cross-border payment capabilities. In June, Yiwu Pay jointly released the
"E-CNY Cross-Border E-Commerce Payment Solution" with the Industrial and Commercial
Bank of China (ICBC). This marked the first "E-CNY Arrival" business in a cross-border
e-commerce scenario, significantly expanding the application scenarios for E-CNY in
cross-border payments. Relying on the E-CNY system, this solution enables point-to-point
direct connections for cross-border payments, effectively reducing intermediate links, improving
fund settlement efficiency, and lowering transaction costs. Furthermore, by introducing the
E-CNY umbrella wallet system, Yiwu Pay provides merchants with more standardized,
transparent, and efficient fund management services, thereby enhancing the visibility of fund
flows and strengthening risk control capabilities.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 Figure 2: Yiwu Pay and ICBC Launch E-CNY Cross-Border E-Commerce Payment Solution
    The Company’s equity-invested entity, Zhijie Yuangang, is continuously enhancing its
global logistics service capabilities centered around the construction of an international supply
chain platform. It has built an end-to-end delivery system featuring "two warehouses and one
line" (domestic warehouses + overseas warehouses + international logistics dedicated line). To
date, the digital supply chain platform covers 160 countries and has served over 1,400 clients
cumulatively. From January to June 2026, the platform completed a cargo shipment volume of
    During the reporting period, Zhijie Yuangang officially obtained the qualification for
international liner shipping operations, becoming the first local cross-border supply chain
enterprise in Jinhua to secure this qualification. This grants the Company full-process
operational capabilities, including independently planning ocean shipping routes, coordinating
vessel schedules, and filing maritime freight rates. Leveraging this qualification advantage,
Zhijie Yuangang is further enhancing its cross-border logistics service capabilities. By
integrating port and shipping resources to ensure stable cabin space and optimize
transportation costs, the Company is helping small and medium-sized foreign trade enterprises
reduce costs and increase efficiency, accelerating its transformation from a third-party logistics
platform into a comprehensive maritime shipping service provider with independent routes and
shipping capacity.
    (III) Accelerating the "Trading Globally" Service Landscape
    The Company continues to expand its overseas resource layout, refine a global commodity
distribution network, and strengthen export supply chain security, thereby facilitating the quality
improvement and scale expansion of "trading globally."
    During the reporting period, the Company advanced its brand overseas expansion initiative
in depth, accelerating the establishment of a global overseas trade service network. Tailoring to
regional market characteristics, the Company finalized a pioneering layout plan for Europe and
Africa, continuously refining its regionalized operational system and initially opening up digital
channels for overseas expansion, aggregating over 22,000 SKUs in its digital product pool.
From January to June 2026, the Company added 14 Yiwu Market projects, including 1 overseas
sub-market, 6 FBC overseas warehouses, 2 overseas websites, 3 overseas showrooms, and 2
overseas exhibitions, continuously perfecting the overseas service network.
    On July 22, 2026, the Tanzania Yiwu Market, co-built by the Company and Weihai Huatan
Company, was officially unveiled at the East Africa Commercial and Logistics Center in Dar es
Salaam. This further expands the overseas service system of the "Yiwu China Commodities
City" brand. Relying on regional market resource advantages, this project will radiate to the
Tanzanian market and surrounding countries, strengthening the linkage between overseas
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
markets and the Yiwu market. It provides robust support for merchants to expand into the East
African market and promotes the global circulation of small commodities.
                    Figure 3: Inauguration Ceremony of the Tanzania Yiwu Market
    As a key vehicle for trade fulfillment services, the Yiwu Comprehensive Bonded Zone
operated by the Company has focused on cultivating “bonded +” industrial clusters, successfully
attracting eight bonded processing projects covering beauty and personal care, health foods,
and other categories, while continuously refining the industrial ecosystem. Centered on three
strategic   directions   (mainstream    cross-border      e-commerce     platforms,   a     “bonded   +
livestreaming” cross-border ecosystem, and brand-certified warehouses), the bonded zone is
accelerating the construction of a full-chain “bonded + cross-border” industrial system. To date,
have established operations there, achieving near-complete coverage of mainstream platforms
and intensive operations under a “one warehouse for all platforms” model.
    From January to June 2026, the Yiwu Comprehensive Bonded Zone (CBZ) achieved a total
import and export value of RMB 45.304 billion, a YoY increase of 59.3%. Currently, the CBZ
has accommodated 146 enterprises, with 541,500 square meters of bonded warehousing
space put into operation. The zone is continuously advancing the establishment of import
supply chain headquarters for leading enterprises and major central warehouses for large
brands. To date, it has successfully attracted 15 brand central warehouses with import volumes
exceeding RMB 100 million.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    According to the 2025 National Comprehensive Bonded Zone Development Performance
Assessment officially released by the General Administration of Customs, the Yiwu
Comprehensive Bonded Zone ranked 35th (Category B) among the 161 participating CBZs
across China, and 28th (Category B) in East China. This represents a significant rise of 31
places in the national ranking compared to the previous year, demonstrating a substantial
enhancement in its comprehensive development capabilities and level of openness.
    As the sole whitelisted enterprise under the positive list for imports, the Company continues
to drive the expansion of this management regime. We deliver high-quality management
services for categories such as daily sundries and toys and have successfully onboarded
Shenzhen Yiran E-commerce as a pilot enterprise for cosmetics, which is now fully operational.
In the first half of 2026, 15 new models were added under the parallel import scheme for home
appliances, generating 2,799 platform sales orders. By enhancing the testing and certification
service system, strengthening the comprehensive quality and safety management of consumer
products via digital platforms, and implementing full-process traceability for listed goods, the
Company has further elevated its service capabilities for imported consumer goods, supporting
the overall quality upgrading of the import trade ecosystem.
    (IV) Enhanced Supporting Systems and Elevated Service Capabilities
    Driven by a commitment to coordinated development, the Company has accelerated the
expansion of its supporting service infrastructure, including exhibitions and hospitality. This has
resulted in a comprehensive service ecosystem that seamlessly integrates market operations,
trade services, and consumer experiences.
integrated exhibition organizing," the Company’s exhibition segment continues to scale up and
professionalize its domestic exhibitions while leveraging overseas resources to drive quality and
efficiency improvements. This strategy has yielded steady enhancements in operational quality
and returns. From January to June 2026, Yiwu China Commodities City Exhibition Co., Ltd.
(“CCC Exhibition”) generated revenue of RMB 81.92 million, a YoY increase of 11.36%, and a
net profit of RMB 24.85 million, surging 45.66% YoY.
    During the first half of the year, over 30 exhibitions were hosted, including the China Yiwu
Cultural and Tourism Products Trade Fair, China Yiwu Hardware & Electrical Appliances Trade
Fair, and Yiwu International Fashion Jewelry Factory Exhibition. These events covered a total
exhibition area exceeding 650,000 square meters, attracted over 1 million professional buyer
visits, and facilitated intended transactions surpassing RMB 10 billion. Notably, the Yiwu
International Fashion Jewelry Factory Exhibition continued to generate strong synergistic
effects, attracting 278 industrial chain enterprises to establish operations in Yiwu. Additionally,
the inaugural China Yiwu Cross-border Beauty Industry Expo brought together 316 companies
showcasing products across the entire beauty industry chain. Concurrently, CCC Exhibition has
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
systematically advanced its preparations for a listing on the Beijing Stock Exchange, making
steady progress on core criteria, including innovation attributes and industry standing.
coordination, and brand upgrading," the Company’s hotel segment is accelerating the
integration of its "accommodation + dining + supporting services" multi-format operations to
simultaneously enhance service quality and operational performance. Focusing on core
business lines such as guest rooms, dining, and events, the segment has implemented phased,
precision marketing tailored to specific customer segments. It has upgraded its online
operations system, strengthened channel management across OTA platforms, short-video
platforms, and livestreaming, and significantly improved brand visibility and conversion rates.
    Furthermore, the segment has deepened offline partnerships, introduced a "one-stop
conference butler" service model, refined its comprehensive banquet service system, and
expanded its base of contracted corporate clients. It continues to cultivate distinctive offerings,
such as Yandoo Cafe and group catering, while strategically opening new outlets to drive
multi-channel revenue growth. From January to June 2026, the Company’s self-operated hotel
business achieved operating revenue of RMB 181 million, representing a 5.67% YoY increase.
    (V) Expanding Capital Channels to Fuel Global Strategic Expansion
    To further broaden its overseas financing channels and accelerate its strategic
transformation into a "globally renowned comprehensive international trade service provider,"
the Company initiated the process for an IPO of overseas-listed foreign shares (H shares) and a
listing on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) during the
reporting period. The A1 Application Form was formally submitted to HKEX on May 29, 2026.
    The H-share listing will facilitate the Company’s integration into international capital
markets. By leveraging Hong Kong’s strengths as an international financial center, the
Company aims to diversify its financing channels, optimize its capital structure, enhance
resource integration capabilities, and accelerate its internationalization. Furthermore,
capitalizing on this internationalization, the Company will deepen its "capital going global"
strategic layout to attract top-tier talent and high-quality resources, thereby injecting fresh
momentum into its long-term, sustainable development.
                     Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
       Significant Changes in the Company's Operations During the Reporting Period, as Well
       as Matters Occurring During the Reporting Period That Have or Are Expected to Have a
       Significant Impact on the Company's Operations
       □Applicable √Not applicable
III.      Analysis of core competitiveness during the reporting period
       √Applicable □Not applicable
          (I) Advantages of Trade Ecosystem Aggregation
           In the early years of reform and opening-up, Yiwu pioneered the establishment of a small
       commodity market. Through six rounds of upgrading and thirteen rounds of expansion, the
       market has sustained transaction volumes that consistently rank among the top comprehensive
       markets nationwide, forging deep first-mover advantages. As the world's largest small
       commodity distribution hub, the Yiwu market now brings together 28 major categories and more
       than 2.2 million individual SKUs, enabling "one-stop sourcing" for global trade. Powered by
       smart operations and digital technology, vast flows of commerce, logistics, capital, and
       information have converged around the Yiwu market, building scale effects and resource
       barriers that are difficult to replicate and continuously consolidating Yiwu's position as the core
       hub of global small commodity trade.
           (II) Advantages of Digital Integration
           The Company owns the world's leading physical small commodity market. Leveraging its
       nearly 80,000 booths, it has established the Global Digital Trade Center (Digital Trade Port) as
       its latest digital integration platform, building a high-caliber digital trade hub structured around
       "full-chain sensing, intelligent decision-making and ecosystem coordination" and forming a
       digital leadership advantage that traditional markets cannot match. By digitally connecting the
       “full trade journey of a single commodity,” the Company achieves a closed loop spanning
       demand discovery, design and production, listing and display, order management, warehousing
       and logistics, and payment settlement, transforming "segmented operations" into “full-chain
       sensing” and accelerating product iteration. By aggregating and leveraging “the full spectrum of
       data elements in one hub,” it integrates trade, industry, and public data, turning
       “experience-based decisions” into “intelligent decisions” that drive precise analytics and
       ecosystem coordination. By integrating and optimizing the “full service ecosystem on one
       platform,” it accumulates massive trade data and consolidates diverse trade tools, replacing
       "scattered point-to-point connections" with one-stop “ecosystem coordination” that substantially
       enhances trade facilitation. This full-chain digital intelligence hub enables the Yiwu market to
       transcend the constraints of time and space, upgrading from the traditional "passive,
       fragmented, and inefficient" mode of operation to a high-caliber digital trade hub characterized
       by “full-scenario coverage, full-chain coordination, and full data connectivity,”      truly realizing a
       new paradigm of digital trade that is “always available, everywhere present, and
       all-encompassing.”
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    (III) Advantages of International Brand
    "Yiwu China Commodities City" is the first trademark in China's commodity trading market
sector to be recognized as a well-known trademark by the former State Administration for
Industry and Commerce of China, boasting outstanding brand value and high international
recognition. Through project implementation, festival linkages, and global deployment, the
Company continues to amplify its brand effect. In 2026, the CCTV Spring Festival Gala's Yiwu
sub-venue made a stunning debut at the Global Digital Trade Center, and the city brand image
of "Sincere and Loyal, Yiwu for the World" went viral across the internet, achieving a global
reach of 1.2 billion impressions. The "Yiwu" brand is now inextricably linked to the image of the
"World Capital of Small Commodities," with growing influence and leadership in global trade,
continuously attracting quality merchants and buyers from around the world.
    (IV) Advantages of Trade Supply Chain
trade-service type, Yiwu boasts a well-developed logistics network in which leading domestic
and international express and logistics companies have all established regional distribution
centers, forming an efficient global cargo transport and delivery system. In the first half of 2026,
the city's express parcel volume reached 646 million, keeping it firmly among the top counties
(cities, districts) in China, with outstanding comprehensive advantages in logistics cost and
efficiency. Relying on the Zhijie Yuangang integrated logistics platform, the Company has
moved beyond the traditional multi-layer freight forwarding model, compressing distribution
chains and raising service standardization. Through its "dual warehouses, one trunk line" layout
and smart operations, it achieves highly coordinated full-chain operations covering domestic
consolidation, trunk transportation, overseas warehousing, and last-mile delivery, delivering
significant competitive advantages over traditional foreign trade models in operating costs,
fulfillment efficiency, and end-to-end controllability, thereby providing solid support for the
smooth flow of global trade.
commodity     industrial   belt   centered    on   Yiwu    and    covering     Jinhua-Lishui-Quzhou,
Hangzhou-Jiaxing-Huzhou-Shaoxing, and other areas, spanning nearly 10,000 square
kilometers, has taken shape. Emerging industries attracted by the Global Digital Trade Center,
such as drones and intelligent equipment, are rapidly clustering around Yiwu by leveraging the
market's advantages. This deep linkage between the market and surrounding industrial clusters
has built a virtuous "trade-industry linkage, coordinated development" mechanism, providing
the market with stable sources of supply and robust industrial support.
UFI-approved events, including the China Yiwu International Commodities Fair and China Yiwu
Import Goods Expo, while cultivating vertical trade shows in stationery, textiles, and other
industries, forming professional and internationally recognized exhibition brands. These events
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
       have become national-level platforms that lead industry development, consolidate the clustering
       of merchants and commodities, and facilitate trade matching and industrial upgrading.
            (V) Advantages of Business Diversification
            While deepening its core business, the Company has actively expanded into related fields,
       forming a diversified and synergistic group structure and profit model spanning "market
       operations + international trade + modern logistics + conventions and hotels + financial services
       + digital technology." The business segments share resources and develop in linkage, both
       strengthening the Company's resilience against risks and broadening its revenue streams,
       thereby safeguarding long-term sustainable development.
            (VI) Advantages of Talent Management
            As a leading enterprise in professional market operations, the Company has established a
       comprehensive management system and accumulated extensive experience in market
       operation and management. Over years of development, it has cultivated a management team
       with well-balanced knowledge structures, outstanding professional capabilities, and strategic
       vision — able to accurately grasp industry trends and efficiently advance project implementation
       and business innovation, providing core assurance for the Company's strategic execution and
       high-quality development. In recent years, with the expansion of digital technology, financial
       services, and global brand initiatives, a market-oriented, professional, and internationalized
       talent pool is progressively emerging as a new driving force for the Company's growth.
 IV.        Operating status during the reporting period
（i）         Analysis of main business
                                                                                                    Unit: RMB
                                                                       Amount in the
                                              Amount in the          same report period
       Subject                                                                               YoY change (%)
                                           current report period       of the previous
                                                                             year
       Operating revenue                     10,281,542,979.96        7,712,799,130.26                 33.30
       Operating cost                          7,295,331,445.25       5,279,388,914.07                 38.19
       Sales expenses                            128,955,771.06         104,941,801.54                 22.88
       Administrative expenses                   212,619,854.30         196,210,098.67                   8.36
       Financial expenses                            -126,682.18          17,153,173.76               -100.74
       R&D expenses                               28,508,822.08            9,884,690.75               188.41
       Net cash     flow from operating
                                                -128,795,077.94       1,382,854,487.47                -109.31
       activities
       Net cash     flow from investing
                                                -298,277,049.32        -891,859,376.41                    NA
       activities
       Net cash     flow from financing
                                              -1,461,941,507.17      -1,341,812,237.34                    NA
       activities
       Reasons      for the change in operating revenue: Operating revenue increased by 33.30%
       compared to the same period the previous year, mainly due to an increase in revenue of RMB
                            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             Digital Trade Center, as well as an increase of RMB 918 million in product sales revenue.
             Reasons for the change in operating costs: Operating costs increased by 38.19% compared to
             the same period the previous year, mainly due to the recognition of delivery costs for supporting
             office buildings and commercial streets at the Global Digital Trade Center and the expansion of
             the product sales scale.
             Reasons for the change in financial expenses: Financial expenses decreased by 100.74%
             compared to the same period the previous year, mainly due to a YoY reduction in
             interest-bearing liabilities.
             Reasons for the change in research and development expenses: R&D expenses increased by
             Company's R&D investment.
             Reasons for the change in net cash flow from operating activities: The net cash flow from
             operating activities decreased by RMB 1.512 billion compared to the same period the previous
             year. This was primarily attributable to a YoY decrease of RMB 1.215 billion in the net cash
             received from sales of goods and provision of services, mainly driven by the collection of Global
             Digital Trade Center rental income in the prior year, alongside a YoY increase of RMB 133
             million in taxes paid.
             Reasons for the change in the net cash flow from operating activities: Net cash flow from
             operating activities increased by RMB 594 million YoY, mainly due to a YoY increase of RMB
             intangible assets, and other long-term assets increased by RMB 2.306 billion YoY.
                profits of the Company in this reporting period
             □Applicable √Not applicable
   （ii）         Material changes in profits caused by non-main businesses
             □Applicable √Not applicable
   （iii）        Analysis of assets and liabilities
             √Applicable □Not applicable
                                                                                                       Unit: RMB 10,000
                                          As a                             As a
                                      percentage
                                                       Closing       percentage of
                       Amount at                    balance of the
                                         of total                    total assets at    YoY change
                        the end of
      Item             the current
                                        assets at        prior       the end of the    in percentage     Reasons for change
                                       the end of   corresponding          prior            (%)
                          period      the current                    corresponding
                                         period         period         period (%)
                                                                                                       Mainly   due     to   the
                                                                                                       redemption of bank wealth
Held-for-trading
financial assets
                                                                                                       that matured during this
                                                                                                       period
                                                                                                       Mainly due to the rise in
Prepayments           400,409.16             9.27     153,701.14             3.46          160.51      prepaid         purchase
                                                                                                       amounts for goods
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                                               Mainly due to investments
                                                                                               in T1-T2 office buildings at
                                                                                               the Global Digital Trade
                                                                                               Center         and       the
                                                                                               Company's         Hangzhou
Inventory            140,874.35         3.26       238,532.95            5.37        -40.94
                                                                                               Enclave Project, as well
                                                                                               as the delivery of the first
                                                                                               floor of commercial street
                                                                                               at the Global Digital Trade
                                                                                               Center
                                                                                               Mainly due to the addition
Construction    in                                                                             of the Global Service
progress                                                                                       Trade      Center    project
                                                                                               during this period
                                                                                               Mainly due to the addition
                                                                                               of land for the Global
Intangible assets    790,639.22        18.31       472,296.65           10.64         67.40
                                                                                               Service Trade Center
                                                                                               project during this period
                                                                                               Mainly due to the increase
Development
expenditure
                                                                                               investment
Deferred income
tax assets
                                                                                               Mainly due to the cash-out
Employee
                                                                                               of the 2025 performance
compensation          20,466.26         0.47        30,556.78            0.69        -33.02
                                                                                               bonus at the beginning of
payable
                                                                                               the year
                                                                                               Mainly     due    to   the
                                                                                               suspension of declared
Other payables       252,540.89         5.85       101,398.15            2.28        149.06    but unpaid dividends of
                                                                                               RMB 1.546 billion during
                                                                                               this period
Non-current
liabilities  due       7,854.35         0.18        12,098.80            0.27        -35.08
within one year
Long-term loan        28,417.50         0.66        45,622.44            1.03        -37.71
            Other notes
            None
            √Applicable □Not applicable
            (1) Scale of assets
            Among them: overseas assets amounted to RMB 608 million, accounting for 1.41% of total
            assets.
            (2) Explanation of the high proportion of offshore assets
            □Applicable √Not applicable
            Other notes
            None
                    Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
       √Applicable □Not applicable
                                                                                       Unit: RMB
                         Item                         June 30, 2026              2025
       Monetary funds                                      35,029,191.03         25,578,290.90
       Held-for-trading financial assets                  474,851,137.20        308,282,354.62
       Long-term equity investment                        102,918,559.00        102,918,559.00
       Other non-current financial assets                 664,361,085.31        664,361,085.31
       Other current assets                               656,792,051.04        928,684,511.79
       Total                                            1,933,952,023.58      2,029,824,801.62
           For details regarding restrictions on assets, see Note VII.31, “Assets with Restricted
       Ownership or Usage Rights,” in Section VIII, “Financial Statements.”
       □Applicable √Not applicable
（iv）      Analysis of investments
       √Applicable □Not applicable
          As of the end of June 2026, the balance of external investments was RMB 9.1283481
       billion (including trading financial assets of RMB 574.8511 million, long-term equity investments
       of RMB 6.4099942 billion, other equity instrument investments of RMB 568.1858 million, and
       other non-current financial assets of RMB 1.5753170 billion), a decrease of RMB 1.6587085
       billion, compared to the balance of RMB 10.7870566 billion at the end of the previous year
       (including trading financial assets of RMB 2.0936406 billion, long-term equity investments of
       RMB 6.4367734 billion, other equity instrument investments of RMB 661.0021 million, and other
       non-current financial assets of RMB 1.5956405 billion), reflecting a decline of 15.38%. The main
       changes are as follows:
           I. As of the end of the reporting period, the trading financial assets decreased by RMB
       RMB 1.6853583 billion in bank wealth management and structured deposits during the
       reporting period, and an increase of RMB 1.665688 billion in fair value changes.
           II. As of the end of the reporting period, long-term equity investments decreased by RMB
       investment principal amounting to RMB 5.2563 million from Yiwu Huishang Redbud Phase II
       Investment Partnership (Limited Partnership).
       investment income of RMB 104.6499 million recognized under the equity method during the
       reporting period, and cash dividends received amounting to RMB 126.0437 million.
           III. As of the end of the reporting period, investments in other equity instruments decreased
       by RMB 92.8162 million compared to the end of the previous year, due to changes in the fair
       value of Shenwan Hongyuan shares during the reporting period.
          IV. As of the end of the reporting period, other non-current financial assets decreased by
       RMB 20.3235 million compared to the end of the previous year, due to the recovery of
       investments in three companies, including Suzhou Xiangzhong Venture Capital Partnership
       (Limited Partnership), during the reporting period.
                                               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      (1)Major equity investments
      □Applicable √Not applicable
      (2)Major non-equity investments
      √Applicable □Not applicable
                                                                                                                                                     Unit: RMB 10,000
                                                                                                                                                                             Cumulative
             Project                                                                                                                                 Amount invested
                                                                                                                                                                                actual
  Item                                                                          Progress                                                             during the current
             amount                                                                                                                                        period
                                                                                                                                                                             investment
                                                                                                                                                                               amount
                          The four serviced apartments in the Market and Apartment sectors commenced operations in 2025. Five
                          high-rise commercial buildings (T3 to T7) have completed the completion acceptance filing and have been
Global
                          delivered. The T2 hotel in the Apartment sector and the Digital Trade Port commenced operations during the
Digital
Trade
Center
                          wall completed at 90%.
Global                    Phase I Project: Earthwork and support projects were 50% complete, and the main structure of the basement
Service                   was 35% complete.
Trade                     Phase II Project: Earthwork and retaining structure works: Earth removal completed (36m³), accounting for
Center                    44% of the total volume.
      (3)Financial assets measured at fair value
      √Applicable □Not applicable
                                                                                                                                                     Unit: RMB 10,000
                                               Profit and loss from   Cumulative fair value     Current            Current       Sale/redemption                             Closing
                                 Opening                                                                                                                Other
     Category of assets                       changes in fair value   changes included in     provision for       purchase       amount in current                        balance of the
                                 balance      in the current period         equity            impairment           amount             period           changes            current period
Held-for-trading   financial
assets
Other     equity instrument
investments
Other non-current financial
assets
           Total                435,028.32             16,656.88                 1,092.03                     -   140,000.00          310,568.18        -9,281.63          271,835.39
                                               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      Securities Investment
      √Applicable □Not applicable
                                                                                                                                                       Unit: RMB 10,000
                                                                                           Profit and loss    Cumulative
                                                Initial                                    from changes        fair value
                   Security     Security                   Source of      Opening                                                Other         Closing       Accounting
      Securities                             investment                                    in fair value in     changes
                    code      abbreviation                  funds        book value          the current      included in       changes       book value        item
                                                 cost
                                                                                                period           equity
                                                          Self-owned                                                                                       Held-for-trading
      Stocks       688802     MetaX           5,999.99                    30,828.24          16,656.88                      -             -    47,485.12
                                                          funds                                                                                            financial assets
                                                                                                                                                           Other      equity
                              Shenwan                     Self-owned
      Stocks       000166                    55,362.54                    66,100.21                       -     1,092.03        -9,281.63      56,818.58   instrument
                              Hongyuan                    funds
                                                                                                                                                           investments
                              Tiantu                      Self-owned                                                                                       Other non-current
      Stocks       833979                    15,519.21                      3,661.35                      -                 -             -     3,661.35
                              Investment                  funds                                                                                            financial assets
      Total           /            /         76,881.74          /        100,589.80          16,656.88          1,092.03        -9,281.63     107,965.05           /
      Explanation of securities investment
      □Applicable √Not applicable
      PE investment
      √Applicable □Not applicable
            As of the end of this reporting period, the book value of private equity fund investments was RMB 1.3439447 billion, a decrease of RMB 20.3235
      million from the balance of RMB 1.3642682 billion at the end of the previous year, due to the recovery of investments in three companies, including
      Suzhou Xiangzhong Venture Capital Partnership (Limited Partnership).
      Derivatives investment
      □Applicable √Not applicable
（v）      Major sales of assets and equity
      □Applicable √Not applicable
                                                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
（vi）         Analysis of major subsidiaries and associates
        √Applicable □Not applicable
        Information on major subsidiaries and equity investees contributing more than 10% to the Company's net profit
        □Applicable √Not applicable
        Acquisition and disposal of subsidiaries during the reporting period
        √Applicable □Not applicable
                                                                                   Methods of acquisition and disposal of    Impact on overall production,
                                     company name
                                                                                   subsidiaries during the reporting period  operations, and performance
        Yixin Digital Wealth Management Co., Ltd.                                 Established                               No Material Impact
        Ningxia Yiwu China Commodities City Supply Chain Management Co., Ltd. Cancellation                                  No Material Impact
        Other notes
        □Applicable   √Not applicable
（vii）    Structured entities controlled by the Company
      □Applicable √Not applicable
   V.    Other disclosure matters
 （i）       Possible risks
        √Applicable □Not applicable
        goods sales is significantly correlated with the macroeconomic cycle. If global economic growth weakens and trade volume shrinks, it may lead to a
        decrease in the overall prosperity of the Yiwu small commodity market, thereby adversely affecting booth leasing and related businesses.
        expansion of international trade, warehousing and logistics, supply chain, overseas development, information data, industrial investment, and
        business operations, the Company may face the risk of insufficient reserves of professional talents and inter-disciplinary talents.
        trade is more complicated and severe than before; new technologies are accelerating to breed new opportunities, and new trade models and new
        formats are constantly emerging.
（ii）       Other disclosure matters
        □Applicable √Not applicable
                    Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Section IV. Corporate Governance, Environment, and Society
  I.      Changes in directors and senior management of the Company
       √Applicable □Not applicable
                                                                                            Description of
                                                                           Reasons for
         Name                      Title                        Change                       reasons for
                                                                             change
                                                                                               change
                   Director, Chairman of the Audit
                   Committee of the Board of
       HUANG       Directors, and Member of the
                                                         Election         Other           Election
       Zhongwei    Remuneration and Appraisal
                   Committee of the Board of
                   Directors.
       HUANG
                   Director                              Election         Other           Election
       Yinghao
                   Director, Chairman of the Audit                                        Having reached
                   Committee of the Board of                                              the maximum
       HONG        Directors, and Member of the                                           consecutive term
                                                         Resignation      Other
       Jianqiao    Remuneration and Appraisal                                             of six years as an
                   Committee of the Board of                                              independent
                   Directors.                                                             director
       WANG
                 Vice general manager                    Hiring           Other           Hiring
       Zhengchao
       SUN Tian Vice general manager                     Hiring           Other        Hiring
       HUANG                                                              Job          Organizational
                 Vice general manager                    Resignation
       Xiaoying                                                           reassignment reassignment
       Changes in the Company's directors and senior management personnel
       □Applicable √Not applicable
 II.         Plan for profit distribution or capital reserve into share capital
       Plan for profit distribution or capital reserve into share capital made in the current period
       Whether to distribute profit or convert capital reserve into share
                                                                                                       Yes
       capital
       Number of bonus shares for every 10 shares                                                       NA
       Dividend payout per 10 shares (RMB) (including tax)                                            1.00
       Number of shares converted from the capitalization of capital
                                                                                                        NA
       reserve for every 10 shares
                Explanation of the plan for profit distribution or capital reserve into share capital
             The Company proposes to distribute a cash dividend of RMB 0.10 per share (before tax) to
       all shareholders based on the total share capital registered on the record date for the equity
       distribution. No bonus shares will be issued, and no capital reserve will be capitalized into share
       capital.
             As of the date of this announcement, the total share capital of the Company was
       amounts to RMB 548,355,922.60 (before tax).
             From the date of this announcement until the implementation of the equity distribution
       registration date, if there is any change in the total share capital of the Company, the Company
       intends to maintain the distribution plan of 1 share per distribution unchanged, and will adjust
       the total amount of distribution accordingly, with specific adjustment details to be announced
       separately.
                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
  III.       Incentive stock option plans, employee stock ownership plans and other employee
             incentives granted by the Company and the impact thereof
（i）         Related equity incentive matters that have been disclosed in the provisional
            announcement without progress or change in subsequent implementation
         □Applicable √Not applicable
（ii）         Incentives that have not been disclosed in the temporary announcements or had
             further progress
         Incentive stock option
         □Applicable √Not applicable
         Other notes
         □Applicable   √Not applicable
         Employee stock ownership plans
         □Applicable √Not applicable
         Other incentives
         □Applicable √Not applicable
  IV.       Environmental information of listed companies and their principal subsidiaries
            included in the list of enterprises required by law to disclose environmental
            information
         □Applicable √Not applicable
         Other notes
         □Applicable   √Not applicable
  V.        Status of consolidation and expansion of the results of poverty alleviation, rural
            revitalization and other specific work
         □Applicable √Not applicable
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                           Section V. Significant Matters
    I.       Fulfillment of commitments
（i）         Commitments made by the actual controller, shareholders, affiliates and acquirer of
            the Company, the Company itself and other related parties during the reporting
            period or as of the reporting period
         □Applicable √Not applicable
  II.       The Company’s funds occupied by its controlling shareholders or any of other
            affiliates for non-operational purposes during the reporting period
         □Applicable √Not applicable
  III.      Illegal guarantees
         □Applicable √Not applicable
 IV.        Information about audit on the semi-annual report
         □Applicable √Not applicable
  V.        Changes and handling of matters involved in modified audit opinion in the previous
            year’s annual report
         □Applicable √Not applicable
 VI.        Matters relating to bankruptcy and reorganization
         □Applicable √Not applicable
 VII.        Material litigations and arbitrations
         √ During the period, the Company had major litigations or arbitrations □ During the period, the
         Company did not have any major litigations or arbitrations
（i）         Litigations and arbitrations that have been                   disclosed     in   the    temporary
            announcements and have had no further progress
         □Applicable √Not applicable
                                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      （ii）            Litigations and arbitrations that have not been disclosed in the temporary
                      announcements or have had further progresses
                   √Applicable □Not applicable
                                                                                  Unit: RMB 10,000
During the reporting period:
                                                                                            Whether the
                                     Party                                                    litigation
                                                                                            (arbitration)                     Results of
                                     Beari    Litigation       Basic             Value                                                      Enforcem
 Plaintiff                                                                                     causes         Status of        litigation
                     Defendant        ng           or      information       involved in                                                      ent of
(claiman                                                                                     estimated         litigation    (arbitration
                   (respondent)      Joint    arbitratio    of litigation      litigation     liabilities                                   judgment
    t)                               Liabil                (arbitration)    (arbitration)                    (arbitration)   ) and effect
                                                   n                                           and the                                       (award)
                                     ities                                                                                      thereof
                                                                                               amount
                                                                                                thereof
                                                                                                            Hearings have
               Beijing     Urban                           [(2026) Z                                        been held but
the
               Construction          No       Litigation   MZ No.           17,000.00       No              no judgment      /              /
Group
               Group Co., Ltd.                             273]                                             has      been
                                                                                                            made
               Jingang    Curtain
                                                           [(2026) Z
               Wall Group Co.,                                                                              Hearings have
the                                                        0782 MC
               Ltd.,     Zhejiang    No       Litigation                        602.22      No              not been held    /              /
Group                                                      No.
               Qianghuang New                                                                               yet
               Materials Co., Ltd.
               Zhejiang    Baoye                           [(2026) Z
                                                                                                            Hearings have
the            Curtain        Wall                         0782 MC
                                     No       Litigation                        579.42      No              not been held    /
Group          Decoration     Co.,                         No.
                                                                                                            yet
               Ltd.                                        17020]
               Zhejiang      Yiwu
               Chuanglian
               Market Investment
               and Management
               Co., Ltd., Hebei
               Jiangcheng Real
                                                           [(2021) Z
the            Estate
                                     No       Litigation   0782 MC              485.00      No              Transferred      /              /
Group          Development Co.,
                                                           No. 6367]
               Ltd.,      Handan
               Zheshang      Yiwu
               China
               Commodities
               Wholesale      City
               Co., Ltd.
     （iii）            Other notes
                   □Applicable √Not applicable
        VIII.         Information of the listed company and its directors, senior management, controlling
                      shareholder, and actual controller suspected of violations of laws and regulations,
                      penalties and rectification
                   □Applicable √Not applicable
             IX.      Credit standing of the Company and its controlling shareholder and actual controller
                   √Applicable □Not applicable
                       There was no outstanding court judgment or overdue debt of a large amount involving the
                   Company or its controlling shareholder or actual controller during the reporting period.
                                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            X.        Significant related transactions
        （i）         Related transactions relating to regular corporate operation
                    further progress or changes
                 □Applicable √Not applicable
                    progress or changes
                 □Applicable √Not applicable
                 √Applicable □Not applicable
                                                                                                                                 Unit: RMB
                                                                                                                                             Reasons for
                                                                                                     Percenta                                   the large
                                      Type of     Contents Prici    Price of   Amount of             ge in the                                 difference
                                                      of                                              amount      Settlem                    between the
      Related                       related-part              ng related-part related-part
                       Relationship              related-par                                         of similar     ent      Market price    price of the
    counterparty                          y           ty     princi    y            y                transacti                                transaction
                                                                                                                  method
                                    transaction transaction ple transaction transaction                 ons                                        and
                                                                                                        (%)                                    reference
                                                                                                                                             market price
                                              Property
                     Wholly-owne              service
                                   Acceptance              Mark
CCC Property         d subsidiary             fee and                                                             Account
                                   of labor                et      185,665,835.48 185,665,835.48      92.17                185,665,835.48         /
Service              of the parent            greening                                                            transfer
                                   service                 price
                     company                  maintena
                                              nce fee
                     Wholly-owne
                                   Acceptance              Mark
                     d subsidiary             Construct                                                           Account
Shangbo Yungu                      of labor                et        8,229,180.21     8,229,180.21      4.08                  8,229,180.21        /
                     of the parent            ion fee                                                             transfer
                                   service                 price
                     company
                                   Acceptance Security     Mark
Yiwu Security        Other related                                                                                Account
                                   of labor   service      et        6,914,204.49     6,914,204.49      3.43                  6,914,204.49        /
Service Co., Ltd.    parties                                                                                      transfer
                                   service    fee          price
Yourworld                                     Entrusted
International                                 managem
                                                           Mark
Conference Center, Other related Providing    ent fees                                                            Account
                                                           et    650,630.85 650,630.85                  0.32                   650,630.85         /
subordinated to      parties       services   and                                                                 transfer
                                                           price
Yiwu Market                                   license
Development Group                             fees
                           Total                              /          /          201,459,851.03   100.00          /            /               /
Return of large-value goods sales
                                                                   The CCC Proper Service obtained the market property services and
Illustration on related-party transactions
                                                                   greening maintenance contract through public bidding.
        （ii）        Related transactions arising from asset acquisitions or equity acquisitions and sales
                    further progress or changes
                 □Applicable √Not applicable
                    progress or changes
                 □Applicable √Not applicable
                 □Applicable √Not applicable
                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            results during the reporting period shall be disclosed
         □Applicable √Not applicable
（iii）       Related transactions arising from joint investments in external entities
            further progress or changes
         □Applicable √Not applicable
            progress or changes
         □Applicable √Not applicable
         □Applicable √Not applicable
（iv）        Credits and liabilities with related parties
            further progress or changes
         □Applicable √Not applicable
            progress or changes
         □Applicable √Not applicable
         □Applicable √Not applicable
（v）         Financial business between the Company and the associated financial companies,
            the Company's holding financial company and the related parties
         □Applicable √Not applicable
（vi）        Other significant related transactions
         □Applicable √Not applicable
（vii）       Other
         □Applicable   √Not applicable
   XI.        Significant contracts and their execution
 （i）        Trusteeship, contracting and leases
         □Applicable √Not applicable
                                                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
（ii）      Material guarantees fulfilled or not completely fulfilled in the reporting period
       √Applicable □Not applicable
                                                                                                                                                          Unit: RMB 10,000
                                       External guarantees provided by the Company (excluding those provided for the subsidiaries)
                Relations
                    hip
                                  Amount                        Starting Expiry
                between     The                    Date of                                                    Whether the Whether         Overdue Counter Whether it is a
                                                                 date of date of
                   the               of           guarantee                       Type of Principa Collateral guarantee           the    amount of
  Guarantor               guarant               (signing date      the     the                                                                     guarant related-party Relationship
                guarantor         guarante          of the
                                                                guarante guarant guarantee l debts  (if any)   has been       guarantee     the
                                                                                                                                                            guarantee
                 and the    eed                  agreement)                                                   fulfilled fully is overdue guarantee   ees
                                     e                              e       ee
                  Listed
                Company
                                                                                  Joint and
Hangzhou        Wholly-ow
                           House                                                  several
Shangbo         ned                     408.68 /                /        /                  /           No          No         No             NA No          No               NA
                subsidiary purchaser                                              liability
Nanxing
                                                                                  guarantee
Amount of guarantees made during the reporting period (excluding the
                                                                                                                                                                             -10.85
guarantees provided for subsidiaries)
Balance of guarantees at the end of the reporting period (A) (excluding
the guarantees provided for subsidiaries)
                                                            The Company's guarantees for its subsidiaries
Amount of guarantees provided for subsidiaries during the reporting
period
Balance of guarantees provided for subsidiaries at the end of the
reporting period (B)
                                     Total guarantees provided by the Company (including those provided for the subsidiaries)
Total amount of guarantees (A+B)                                                                                                                                            408.68
Ratio of the total amount of guarantees to the Company’s net assets
(%)
Among them:
Amount of guarantees provided for shareholders, actual controller and
their related parties (C)
Amount of guarantees provided directly or indirectly for the debtors
whose debt-to-asset ratio exceeds 70% (D)
                                                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Portion of total amount of guarantees in excess of 50% of net assets (E)                                                                                            -
Total (C+D+E)                                                                                                                                                       -
Statement on the joint and several liability that may be assumed due to
                                                                        NA
outstanding guarantees
                                                                               According to relevant regulations, the Group is required to provide mortgage loan
                                                                           guarantees to the bank for the sale of commercial housing before the purchaser of the
                                                                           housing has completed the formalities for obtaining the property ownership certificate. The
Statement on guarantees                                                    outstanding guarantee amount as of June 30, 2026 was RMB 4,086,827.78 (December 31,
                                                                           property ownership certificates and are thus little likely to incur losses. Therefore, the
                                                                           management believed that it was not necessary to make provision for the guarantees.
                     Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
（iii）       Other significant contracts
         √Applicable □Not applicable
                                                                                                     Contract
                                                                                                    price (RMB
  No.                     Contract name                                  Signing parties
                                                                                                        ten
                                                                                                    thousand).
                                                                 Hangzhou Shangbo Nanxing
          General Contracting for CCC Group Hangzhou             Real Estate Co., Ltd., Zhejiang
          Enclave Project                                        Zhong'an Construction Group
                                                                 Co., Ltd.
                                                                 Yiwu       Yundailu       Data
          Construction Contract for the Belt and Road            Technology       Co.,      Ltd.;
          Artificial Intelligence Innovation Center Project      Yuanyang Construction Group
                                                                 Co., Ltd.
          Phase I project of the 5th District Market South       The Company, Yiwu Haoyang
          Project in Futian Subdistrict                          Construction Co., Ltd.
          Earthwork and support engineering for Block B of
                                                                 The    Company,      Zhejiang
                                                                 Xinhao Construction Co., Ltd.
          Subdistrict
          Earthwork and support engineering for Block A of       The    Company,    Zhejiang
          Subdistrict                                            Ltd.
  XII.      Description of progress in the use of raised funds
         □Applicable √Not applicable
 XIII.      Other significant matters
         □Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     Section VI. Changes in Shares and Information on Shareholders
          I. Changes in shares
      （i）       Table of changes in shares
            During the reporting period, the total number of shares and the capital structure of the Company
            remained unchanged.
            □Applicable √Not applicable
                net assets per share during the period from the end of the reporting period to the
                disclosure date of the semi-annual report (if any)
            □Applicable √Not applicable
                securities regulatory authority to be disclosed
            □Applicable √Not applicable
     （ii）        Changes in restricted shares
             □Applicable √Not applicable
         II. Information about shareholders
      （i）       Total number of shareholders:
            Number of common shareholders as of the end of
            the reporting period
            As of the end of the reporting period, the total
            number of preferred shareholders whose voting                                                    0
            rights have been restored
     （ii）        Shareholdings of the top 10 shareholders and top 10 holders of tradable shares (or
                 shareholders not subject to trading restrictions)
                                                                                                  Unit: share
                Shareholdings of the top ten shareholders (excluding shares lent through refinancing)
                                              Number of                               Pledge, mark or
                             Change                                   Number of
                                            shares held at Propor                         freezing
      Shareholder           during the                                non-tradabl                          Ownership of
                                            the end of the    tion
       (full name)          reporting                                  e shares      Status of             shareholder
                                               reporting      (%)                                  Qty.
                              period                                     held         shares
                                                 period
Yiwu               China                                                                                   State-own
Commodities          City               - 3,091,064,692      56.37               -      No              - ed legal
Holdings Limited                                                                                           person
Zhejiang          Zhecai                                                                                   State-own
Capital     Management                  -     129,392,828       2.36             -      No              - ed legal
Co., Ltd.                                                                                                  person
Hong Kong Central
Clearing       Company -185,374,503           106,029,096       1.93             -      No              - Unknown
Limited
Yiwu Urban Investment                                                                                      State-own
and          Construction               -       42,240,394      0.77             -      No              - ed legal
Group Co., Ltd.                                                                                            person
Ruizhong             Life
Insurance Co., Ltd. -        30,595,453         31,915,053      0.58             -      No              - Other
own funds
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                                                              State-own
Zhejiang         Zhexin
                                         -        22,832,755       0.42               -       No          -   ed legal
Holdings Co., Ltd.
                                                                                                              person
Monetary Authority of
Macao - own funds
National          Social
Security Fund 113             18,675,400          18,675,400       0.34               -       No         --   Other
Portfolio
Kuwait       Investment
Authority - own funds
                                                                                                           Domestic
Xiao Bihong                    5,301,200          14,069,698       0.26               -       No          -natural
                                                                                                           person
    Shareholdings of the top ten shareholders not restricted for sale (excluding shares lent through refinancing)
                                                                                      Type and quantity of shares
             Shareholder                     Number of tradable shares held
                                                                                       Type               Qty.
                                                                                          RMB-deno
Yiwu China Commodities City Holdings                                                       minated
Limited                                                                                    common
                                                                                            shares
                                                                                          RMB-deno
Zhejiang Zhecai Capital Management                                                         minated
Co., Ltd.                                                                                  common
                                                                                            shares
                                                                                          RMB-deno
Hong Kong Central Clearing Company                                                         minated
Limited                                                                                    common
                                                                                            shares
                                                                                          RMB-deno
Yiwu Urban Investment and                                                                  minated
Construction Group Co., Ltd.                                                               common
                                                                                            shares
                                                                                          RMB-deno
Ruizhong Life Insurance Co., Ltd. - own                                                    minated
funds                                                                                      common
                                                                                            shares
                                                                                          RMB-deno
                                                                                           minated
Zhejiang Zhexin Holdings Co., Ltd.                                         22,832,755      common
                                                                                            shares
                                                                                          RMB-deno
Monetary Authority of Macao - own                                                          minated
funds                                                                                      common
                                                                                            shares
                                                                                          RMB-deno
National Social Security Fund 113                                                          minated
Portfolio                                                                                  common
                                                                                            shares
                                                                                          RMB-deno
Kuwait Investment Authority - own                                                          minated
funds                                                                                      common
                                                                                            shares
                                                                                          RMB-deno
                                                                                           minated
XIAO Bihong                                                                14,069,698      common
                                                                                            shares
Explanation of the special account for
repurchased shares among the top ten         NA
shareholders
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Explain if any of the shareholders above
were involved in entrusting/being
                                            NA
entrusted with voting rights or waiving
voting rights
                                            Zhejiang Provincial Financial Development Co., Ltd., the controlling
                                            shareholder of Zhejiang Zhecai Capital Management Co., Ltd., owns a
Explanation on the relationship or
concerted action between the above
                                            the controlling shareholder of Yiwu Market Development Group Co., Ltd.,
shareholders
                                            in turn, the controlling shareholder of Yiwu China Commodities City
                                            Holdings Limited.
Explanation     on  the     preferred
shareholders whose voting rights had
                                            NA
been restituted and the quantity of
shares held thereby
            Participation of shareholders holding more than 5% of the shares, top ten shareholders, and top
            ten shareholders with non-restricted tradable shares in the lending of shares through
            refinancing
            □Applicable √Not applicable
            Changes in the top ten shareholders and the top ten shareholders with non-restricted tradable
            shares compared to the prior corresponding period due to lending or return of shares through
            refinancing
            □Applicable √Not applicable
            Number of shares held by the top 10 shareholders subject to trading restrictions and the trading
            restrictions
            □Applicable √Not applicable
    （iii）      Strategic investors or general corporations becoming top ten shareholders due to
               placing of new shares
            □Applicable √Not applicable
        III. Directors and senior management
     （i）       Changes in shareholding of current and resigning directors and senior management
               during the reporting period
            □Applicable √Not applicable
            Statement on other matters
            □Applicable √Not applicable
     （ii）      Equity incentives granted to directors and senior executives during the reporting
               period
            □Applicable √Not applicable
    （iii）      Other notes
            □Applicable √Not applicable
        IV. Changes in controlling shareholder or actual controller
            □Applicable √Not applicable
         V. Preferred Shares
            □Applicable   √Not applicable
                                                                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                              Section VII. Bonds
         I. Corporate bonds (including enterprise bonds) and non-financial corporate debt financing instruments
            √Applicable □Not applicable
    （i）         Corporate bonds (including enterprise bonds)
             √Applicable □Not applicable
                                                                                                                                                          Unit: RMB 100 million Currency: RMB
                                                                 The most                                                                                                                             Whether
                                                                  recent                                         Method of                                                                           there is a
                                                                                         Outstan   Interes                                     Lead                         Investor      Trade
                       Abbreviat            Issue   Value       redemption    Maturity                            principal        Trading                   Trustee                                   risk of
  Name of bond                     Code                                                   ding      t rate                                   underwrite                    Suitability   mechanis
                         ion                 date   date         date after    date                           repayment and         venue                    manager                                delisting or
                                                                                         amount      (%)                                         r                       Arrangements       m
                                                                August 31,                                   interest payment                                                                       termination
Zhejiang      China
                                                                                                             Simple interest is
Commodities City
                                                                                                             calculated, the
Group Co., Ltd.
                                            Nov     Nov                                                      interest payment     Shanghai   Huatai         Huatai       Professional
publicly     issued    25 YIWU                                                Nov 13,                                                                                                    Public
corporate bonds to     CCC 01                                                 2028                                                                                                       trading
professional
                                                                                                             principal is
investors         in
                                                                                                             repaid once due.
             The Company’s mitigation measures against risks of bond delisting or de-registration
             □Applicable √Not applicable
             □Applicable √Not applicable
             □Applicable √Not applicable
             Other notes
                                                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             Shanghai New Century Credit Rating Investment Service Co., Ltd. issued the Zhejiang China Commodities City Group Co., Ltd. Credit Rating
        Report [XSJQP (2026) 020276] on June 26, 2026. According to the report, the Company's main credit rating is AAA, and the rating outlook is stable.
           period and their impacts
        □Applicable √Not applicable
（ii）         Fundraising through corporate bonds
        □ The Company's bonds involved the use or rectification of the raised funds during the reporting period√ All corporate bonds of the Company did not
        involve the use of raised funds or rectification during the reporting period
        (1) Proceeds from fundraising are earmarked for specific projects
        □Applicable   √Not applicable
（iii）        Other matters that should be disclosed for special bond varieties
        □Applicable   √Not applicable
（iv）       Important matters related to corporate bonds during the reporting period
        □Applicable √Not applicable
                                              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
（v）       Non-financial corporate debt financing instruments in the interbank bond market
       √Applicable □Not applicable
                                                                                                                           Unit: RMB 100 million Currency: RMB
                                                                                                                                                      Trad Whether there
                                                                                                             Method of                   Investor               is a risk of
                                                                                Outstan                                                                 e
                    Abbreviat                Issue       Value      Maturity                  Interest        principal      Trading   appropriate           terminating the
 Name of bond                    Code                                            ding                                                                  mec    transaction in
                      ion                     date       date        date                     rate (%)    repayment and       venue    arrangemen
                                                                                amount                                                                hanis      the stock
                                                                                                         interest payment               ts (if any)               market
                                                                                                                                                        m
Zhejiang China      25                                                                                   Annual interest
Commodities City    Zhejiang               Mar                                                           payment,
Group Co., Ltd.’s   Yiwu                   25–26,                                         5      2.10    principal                     No                    No
Zhejiang China      25                                                                                   Annual interest
Commodities City    Zhejiang                                                                             payment,
Group Co., Ltd.’s   Yiwu                                                              10         2.09    principal                     No                    No
Zhejiang China      25                                                                                   Annual interest
Commodities City    Zhejiang               Jul                                                           payment,
Group Co., Ltd.'s   Yiwu                   15–16,                                         5      1.89    principal                     No                    No
       The Company's measures to deal with the risk of bond termination
       □Applicable √Not applicable
       Bonds overdue
       □Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           Explanation of bonds overdue
           □Applicable √Not applicable
               protection clauses
           □Applicable √Not applicable
           □Applicable √Not applicable
           Other notes
                Shanghai New Century Credit Rating Investment Service Co., Ltd. issued the Zhejiang
           China Commodities City Group Co., Ltd. Credit Rating Report [XSJQP (2026) 020276] on June
           outlook is stable.
                protection measures during the reporting period and their impact
           □Applicable √Not applicable
           Other notes
           None
                instruments
           □Applicable √Not applicable
   （vi）       Consolidated loss of the reporting period over 10% of net assets as at the end of last
              year
           □Applicable √Not applicable
  （vii）          Violations of regulations and agreements
           Violations of laws, regulations, self-regulatory rules, articles of association, information
           disclosure management systems, and breaches of covenants or commitments in the bond
           prospectus during the reporting period, and the impact of such circumstances on the rights and
           interests of bond investors
           □Applicable √Not applicable
  （viii）      Main accounting data and financial indicators
           √Applicable □Not applicable
                                                                                              Unit: RMB 10,000
                                                                                  Change of Jun 30, 2026    Reasons
            Major indicator                  Jun 30, 2026      Dec 31, 2025
                                                                                  over Dec 31, 2025 (%)    for change
Current ratio                                      78.40%             113.92%            Down 35.52 ppt
Quick ratio                                        68.40%              95.64%            Down 27.24 ppt
Debt-to-asset ratio (%)                              48.61               48.14                Up 0.47 ppt
                                                                                                            Reasons
                                             Jan-Jun 2026      Jan-Jun 2025          YoY change (%)
                                                                                                           for change
Net profit after deducting non-recurring
gains and losses
EBITDA to total debt ratio                             1.05              0.37                           183.78
Interest coverage ratio                               73.34             24.97                           193.71
Cash interest protection multiple                     13.66             22.49                           -39.26
EBITDA-to-interest coverage ratio                     89.30             30.41                           193.65
Loan repayment rate (%)                                 100               100                                -
Interest payment rate (%)                               100               100                                -
        II. Convertible bonds
            □Applicable √Not applicable
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                    Section VIII. Financial Report
I. Auditor's Report
   □Applicable √Not applicable
II. Financial statements
                                Consolidated Balance Sheet
                                       June 30, 2026
  Prepared by: Zhejiang China Commodities City Group Co., Ltd.
                                                                                          Unit: RMB
                     Item                         Notes       June 30, 2026        December 31, 2025
  Current assets:
   Monetary funds                                            3,359,496,577.21         6,815,989,217.00
   Held-for-trading financial assets                           574,851,137.20         2,093,640,647.73
   Accounts receivable                                         404,730,199.98           437,842,602.96
   Prepayments                                               4,004,091,609.38         1,537,011,402.30
   Other receivables                                           158,098,409.97           188,280,323.27
   Inventory                                                 1,408,743,513.20         2,385,329,502.34
   Non-current assets due within one year                       48,065,999.99            48,073,333.33
   Other current assets                                      1,088,029,039.79         1,352,907,210.14
      Total current assets                                  11,046,106,486.72        14,859,074,239.07
  Non-current assets:
   Long-term receivables                                       268,652,205.76           263,820,453.02
   Long-term equity investment                               6,409,994,208.72         6,436,773,452.31
   Other equity instrument investments                         568,185,841.14           661,002,071.26
   Other non-current financial assets                        1,575,316,956.32         1,595,640,456.59
   Investment Property                                       5,796,171,719.61         6,355,807,803.28
   Fixed assets                                              7,540,344,417.07         7,695,778,566.77
   Construction in progress                                    398,677,168.91           187,453,942.15
   Right-of-use assets                                         119,589,044.32           133,848,922.89
   Intangible assets                                         7,906,392,214.75         4,722,966,520.46
   Among them: data resources                                   27,387,098.65            29,020,570.76
   Development expenditure                                      46,257,613.48             4,793,276.48
   Goodwill                                                    284,916,367.87           284,916,367.87
   Long-term deferred expenses                                 398,427,338.02           423,899,385.08
   Deferred income tax assets                                   87,367,725.90            65,685,094.81
   Other non-current assets                                    732,921,382.51           713,975,826.35
      Total non-current assets                              32,133,214,204.38        29,546,362,139.32
        Total assets                                        43,179,320,691.10        44,405,436,378.39
  Current liabilities:
   Accounts payable                                          1,936,920,569.75         1,995,926,945.56
   Advance receipts                                            200,279,463.49           238,030,423.42
   Contract liabilities                                      7,564,884,552.80         7,463,213,194.29
   Employee compensation payable                               204,662,557.79           305,567,789.70
   Tax payable                                                 609,346,619.53           760,523,819.93
   Other payables                                            2,525,408,939.65         1,013,981,521.93
   Including: payable dividends                              1,546,587,346.00                        -
   Non-current liabilities due within one year                  78,543,508.32           120,988,024.00
   Other current liabilities                                   969,360,892.98         1,144,658,143.19
      Total current liabilities                             14,089,407,104.31        13,042,889,862.02
  Non-current liabilities:
   Long-term loans                                             284,175,043.55           456,224,418.38
   Bonds payable                                             2,799,222,788.66         2,799,044,726.49
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 Lease liabilities                                                  123,826,782.28      129,609,121.91
 Deferred income                                                    114,181,350.49      116,223,417.33
 Deferred income tax liabilities                                    167,429,360.83      129,241,774.50
 Other non-current liabilities                                    3,411,651,616.22    4,703,511,721.48
   Total non-current liabilities                                  6,900,486,942.03    8,333,855,180.09
     Total liabilities                                           20,989,894,046.34   21,376,745,042.11
Owners’ (or Shareholders’) Equity:
 Paid-in capital (share capital)                                  5,483,559,226.00    5,483,559,226.00
 Capital reserve                                                  2,407,539,312.32    2,407,539,312.32
 Other comprehensive income                                          14,288,145.58       97,611,758.98
 Surplus reserve                                                  2,469,640,355.95    2,469,640,355.95
 General risk reserve                                                 2,879,083.68        2,879,083.68
 Undistributed profit                                            11,724,101,969.10   12,486,681,371.95
  Total   equity     attributable  to         owners
(shareholders) of the parent company
  Non-controlling interest                                           87,418,552.13       80,780,227.40
   Total owners’ equity (or shareholders’ equity)                22,189,426,644.76   23,028,691,336.28
      Total liabilities and owners’ equity (or
shareholders’ equity)
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                             Parent Company Balance Sheet
                                     June 30, 2026
Prepared by: Zhejiang China Commodities City Group Co., Ltd.
                                                                                        Unit: RMB
                   Item                         Notes       June 30, 2026        December 31, 2025
Current assets:
 Monetary funds                                            2,719,861,187.64         6,112,150,821.15
 Held-for-trading financial assets                           100,000,000.00         1,785,358,293.11
 Accounts receivable                                           6,348,244.58             7,114,258.38
 Prepayments                                                  29,468,417.80             7,708,559.03
 Other receivables                                            72,918,986.21            68,315,773.58
 Inventory                                                   798,816,137.70         1,034,771,826.79
 Other current assets                                      2,948,794,880.92         2,708,433,206.61
    Total current assets                                   6,676,207,854.85        11,723,852,738.65
Non-current assets:
 Long-term receivables                                             4,785.99                 4,785.99
 Long-term equity investment                              10,753,359,444.76        10,423,742,617.62
 Other equity instrument investments                         568,185,841.14           661,002,071.26
 Other non-current financial assets                          226,071,150.27           226,071,150.27
 Investment Property                                       4,796,589,368.01         4,941,653,871.66
 Fixed assets                                              7,234,545,090.12         7,341,554,439.30
 Construction in progress                                    194,279,301.89            98,056,296.95
 Right-of-use assets                                          87,226,661.38            90,251,863.48
 Intangible assets                                         7,294,288,416.30         4,095,896,105.81
 Long-term deferred expenses                                 378,016,358.76           399,492,735.13
 Deferred income tax assets                                   86,056,973.75            60,943,291.23
 Other non-current assets                                    619,961,608.17           602,113,360.60
    Total non-current assets                              32,238,585,000.54        28,940,782,589.30
      Total assets                                        38,914,792,855.39        40,664,635,327.95
Current liabilities:
 Accounts payable                                          1,596,954,677.79         1,752,807,184.88
 Advance receipts                                            201,117,516.23           211,527,752.55
 Contract liabilities                                      4,631,577,759.73         5,329,539,614.69
 Employee compensation payable                               200,692,234.80           253,063,627.03
 Tax payable                                                 562,324,905.58           647,857,368.16
 Other payables                                            2,266,658,565.85           731,173,023.58
 Including: payable dividends                              1,546,587,346.00                        -
 Non-current liabilities due within one year                  57,242,580.34            99,791,845.62
 Other current liabilities                                 2,505,375,381.15         2,185,187,110.81
    Total current liabilities                             12,021,943,621.47        11,210,947,527.32
Non-current liabilities:
 Long-term loans                                             238,220,000.00           407,230,096.66
 Bonds payable                                             2,799,222,788.66         2,799,044,726.49
 Lease liabilities                                           105,317,288.63           101,462,946.38
 Deferred income                                              86,403,113.73            88,445,180.57
 Other non-current liabilities                             3,411,651,616.22         4,703,511,721.48
    Total non-current liabilities                          6,640,814,807.24         8,099,694,671.58
      Total liabilities                                   18,662,758,428.71        19,310,642,198.90
Owners’ (or Shareholders’) Equity:
 Paid-in capital (share capital)                           5,483,559,226.00         5,483,559,226.00
 Capital reserve                                           1,954,316,050.32         1,954,316,050.32
 Other comprehensive income                                   10,687,351.36            80,299,523.95
 Surplus reserve                                           2,469,586,880.12         2,469,586,880.12
 Undistributed profit                                     10,333,884,918.88        11,366,231,448.66
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
   Total owners’ equity (or shareholders’ equity)             20,252,034,426.68      21,353,993,129.05
      Total liabilities and owners’ equity (or
shareholders’ equity)
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                        Consolidated Income Statement
                                             January to June 2026
                                                                                                  Unit: RMB
                          Item                                 Notes        H1 2026            H1 2025
I. Gross revenue                                                       10,281,542,979.96   7,712,799,130.26
In which: operating revenue                                            10,281,542,979.96   7,712,799,130.26
II. Gross cost                                                          7,913,618,416.16   5,697,849,971.22
In which: Operating cost                                                7,295,331,445.25   5,279,388,914.07
        Taxes and surcharges                                              248,329,205.65      90,271,292.43
        Sales expenses                                                    128,955,771.06     104,941,801.54
        Administrative expenses                                           212,619,854.30     196,210,098.67
        R&D expenses                                                       28,508,822.08       9,884,690.75
        Financial expenses                                                   -126,682.18      17,153,173.76
        In which: interest expenses                                        32,710,520.75      50,964,708.06
                Interest income                                            40,786,828.04      38,102,947.69
    Plus: other income                                                     13,566,525.44       5,161,514.77
       Investment income (loss is indicated by “-”)                       126,780,380.20     122,900,781.16
      In which: income from investment in
associates and joint ventures
       Changes in fair value (loss is indicated by “-”)                  166,568,782.58         -251,495.99
        Credit impairment loss (loss is
                                                                           -1,723,922.47         27,423.78
indicated by “-”)
III. Operating profit (loss is indicated by “-”)                        2,673,116,329.55   2,142,787,382.76
    Plus: income from non-operating activities                              8,440,683.68       4,989,777.15
    Less: expenses from non-operating
activities
IV. Profits before tax (loss is indicated by “-”)                       2,677,668,054.28   2,147,733,764.28
    Less: income tax                                                      691,779,213.42     450,669,584.71
V. Net profits (net loss is indicated by “-”)                           1,985,888,840.86   1,697,064,179.57
(I) Categorized by continuity of operation
      Net profits from continuing operation (net
loss is indicated by “-”)
(II) Categorized by ownership
   Net profits attributable to shareholders of the parent
company (net loss is indicated by “-”)                                  1,979,200,210.15   1,690,936,276.69
     Non-controlling interest(net loss is
indicated by “-”)
VI. Other comprehensive income net after tax                              -83,373,919.38     -24,805,955.52
   (I) Other comprehensive income net after tax attributable
to owners of the parent company                                           -83,323,613.40     -24,757,538.57
                                                                          -69,612,172.59     -30,102,561.12
cannot be reclassified into profit and loss
(3) Changes in fair value of investments in
                                                                          -69,612,172.59     -30,102,561.12
other equity instruments
                                                                          -13,711,440.81       5,345,022.55
be reclassified into profit and loss
(6) Difference arising from the translation of
                                                                          -13,711,440.81       5,345,022.55
foreign currency financial statements
   (II) Other comprehensive income net after tax
attributable to minority shareholders
                                                                              -50,305.98         -48,416.95
VII. Total comprehensive income                                         1,902,514,921.48   1,672,258,224.05
   (I)    Total    comprehensive       income
attributable to owners of the parent company
   (II)   Total    comprehensive       income
attributable to minority shareholders
VIII. Earnings per share:
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
  (I) Basic earnings per share                                              0.36             0.31
  (II) Diluted earnings per share                                           0.36             0.31
In this period, if a business combination under common control occurs, the net profit realized by
the transferred party before the combination was 0, and the net profit realized by the transferred
party in the previous period was 0.
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                Parent company income statement
                                       January to June 2026
                                                                                           Unit: RMB
                      Item                           Notes       H1 2026               H1 2025
I. Operating revenue                                         3,957,698,815.08       2,548,219,329.59
    Less: Operating cost                                     1,285,258,324.15         601,142,197.45
        Taxes and surcharges                                   230,618,795.03          78,379,801.54
        Sales expenses                                         142,212,497.61         114,514,217.20
        Administrative expenses                                117,005,873.25          93,509,662.00
        Financial expenses                                      -4,300,391.48          18,180,241.75
        In which: interest expenses                             28,955,352.88          50,092,903.10
                Interest income                                 33,734,857.57          33,884,399.12
    Plus: other income                                           2,966,173.48           3,038,560.90
        Investment income (loss is
indicated by “-”)
        In which: income from investment in
associates and joint ventures
        Credit impairment loss (loss is
                                                                  -255,440.62                 25,703.92
indicated by “-”)
II. Operating profits (loss is indicated by “-”)             2,291,620,715.20       1,779,399,696.44
    Plus: income from non-operating
activities
    Less: expenses from non-operating
activities
III. Profits before tax (loss is indicated by
“-”)
    Less: income tax                                          585,469,465.38          406,373,263.03
IV. Net profits (net loss is indicated by “-”)               1,709,433,083.22       1,374,357,991.11
   (I) Categorized by continuity of
operation(net loss is indicated by “-”)
V. Other comprehensive income net after
                                                               -69,612,172.59          -30,102,561.12
tax
  (I) Other comprehensive income that
                                                               -69,612,172.59          -30,102,561.12
cannot be reclassified as profit or loss
                                                               -69,612,172.59          -30,102,561.12
investments in other equity instruments
VI. Total comprehensive income                               1,639,820,910.63       1,344,255,429.99
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                             Consolidated Cash Flow Statement
                                    January to June 2026
                                                                                             Unit: RMB
                      Item                      Notes            H1 2026                   H1 2025
I. Cash flows generated from operating activities:
    Cash received from sale of goods and
rendering of services
    Cash received for taxes and surcharges
refunded
    Other cash receipts relating to operating
activities
      Sub-total of cash inflow from operating
activities
    Cash paid for goods and services                        8,599,549,856.93       6,527,953,072.29
    Cash paid to and on behalf of employees                   361,601,920.90         319,845,111.92
    Payments of taxes                                       1,105,202,682.97         972,201,028.54
    Other cash payments relating to operating
activities
      Sub-total of cash outflow from operating
activities
        Net cash flow from operating
                                                              -128,795,077.94      1,382,854,487.47
activities
II. Cash flows generated from investing activities:
    Cash received from recovery of
investment
    Cash received from investment income                      154,143,448.24           24,080,119.33
    Net cash received from disposal of
property, plant and equipment, intangible                        5,047,965.92               163,092.36
assets and other long-term assets
    Other cash receipts relating to investing
activities
      Sub-total of cash inflow from investing
activities
    Cash paid to acquire and construct fixed
assets, intangible assets and other                         3,541,926,484.37       1,235,651,790.25
long-term assets
    Cash paid to acquire investments                        1,400,000,000.00           88,000,000.00
    Other cash paid related to investing
activities
      Sub-total of cash outflow from investing
activities
        Net cash flow from investing activities               -298,277,049.32       -891,859,376.41
III. Cash flows generated from financing activities:
    Cash received from issuing bonds                                           -   2,498,964,794.52
      Sub-total of cash inflow from financing
                                                                               -   2,498,964,794.52
activities
    Cash paid for debt repayment                              208,684,000.00       2,661,610,000.00
    Cash paid for distribution of dividends or
profits or payment of interest
    Other cash paid related to financing
activities
      Sub-total of cash outflow from financing
activities
        Net cash flow from financing activities             -1,461,941,507.17      -1,341,812,237.34
IV. The impact of exchange rate                                 -2,481,985.24           1,090,768.24
            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
fluctuations    on    cash    and    cash
equivalents
V. Net increase in cash and cash
                                                           -1,891,495,619.67       -849,726,358.04
equivalents
   Plus: opening balance of cash and cash
equivalents
VI. Closing balance of cash and cash
equivalents
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                          Parent Company Cash Flow Statement
                                  January to June 2026
                                                                                            Unit: RMB
                     Item                      Notes            H1 2026                   H1 2025
I. Cash flows generated from operating activities:
    Cash received from sale of goods and
rendering of services
    Other cash receipts relating to operating
activities
      Sub-total of cash inflow from operating
activities
    Cash paid for goods and services                         656,838,997.53         687,394,953.38
    Cash paid to and on behalf of
employees
    Payments of taxes                                        942,406,659.46         876,659,941.59
    Other cash payments relating to
operating activities
      Sub-total of cash outflow from
operating activities
    Net cash flow from operating activities                  244,746,188.41       1,436,379,279.72
II. Cash flows generated from investment activities:
    Cash received from recovery of
investment
    Cash received from investment income                     137,921,429.22           28,033,452.66
    Net cash received from disposal of
property, plant and equipment, intangible                       5,046,236.43               146,812.16
asset, and other long-term assets
    Other cash receipts relating to investing
activities
      Sub-total of cash inflow from investing
activities
    Cash paid to acquire and construct fixed
assets, intangible assets and other                        3,467,361,121.90         886,352,218.97
long-term assets
    Cash paid to acquire investments                       1,765,430,000.00       1,819,675,529.10
    Other cash paid related to investing
activities
      Sub-total of cash outflow from
investing activities
        Net cash flow from investing
                                                             -517,161,704.73      -1,134,783,533.84
activities
III. Cash flows generated from financing activities:
    Cash received from issuing bonds                                          -   2,498,964,794.52
      Sub-total of cash inflow from financing
                                                                              -   2,498,964,794.52
activities
    Cash paid for debt repayment                             208,090,000.00       2,661,610,000.00
    Cash paid for distribution of dividends or
profits or payment of interest
    Other cash paid related to financing
activities
      Sub-total of cash outflow from
financing activities
        Net cash flow from financing
                                                           -1,450,367,376.54      -1,330,895,898.60
activities
IV. The impact of exchange rate                                               -                     -
            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
fluctuations on cash and cash
equivalents
V. Net increase in cash and cash
                                                           -1,722,782,892.86     -1,029,300,152.72
equivalents
   Plus: opening balance of cash and cash
equivalents
VI. Closing balance of cash and cash
equivalents
Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the
accounting department: ZHAO Difang
                                                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                    Consolidated Statement of Changes in Owners' Equity
                                                                                    January to June 2026
                                                                                                                                                                                  Unit: RMB
                                                                                                                         H1 2026
            Item                                                        Equity attributable to owners of the parent company
                                                                                                                                                                           Non-controlli    Total owners’
                                                                            Other                                                                                           ng interest        equity
                            Paid-in capital                                                                     General risk       Undistributed
                                                  Capital reserve       comprehensive       Surplus reserve                                               Sub-total
                            (share capital)                                                                      reserve              profit
                                                                           income
I. Closing balance of the
previous year
II. Opening balance of
the current year
III.   YoY        change
(decrease is indicated by                     -                     -     -83,323,613.40                    -                  -     -762,579,402.85     -845,903,016.25    6,638,324.73     -839,264,691.52
“-”)
(I) Total comprehensive
                                              -                     -     -83,323,613.40                    -                  -    1,979,200,210.15    1,895,876,596.75    6,638,324.73    1,902,514,921.48
income
(III) Profit distribution                     -                     -                   -                   -                  -   -2,741,779,613.00   -2,741,779,613.00               -   -2,741,779,613.00
                                              -                     -                   -                   -                  -   -2,741,779,613.00   -2,741,779,613.00               -   -2,741,779,613.00
(or shareholders)
IV. Closing balance of
the current period
                                                                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                                                                             H1 2025
                                                                               Equity attributable to owners of the parent company
      Item
                                                                                                                                                                                       Non-controlling         Total owners’
                                                                                        Other                                                                                             interest                equity
                      Paid-in capital                              Less: treasury                                             General risk     Undistributed
                                             Capital reserve                        comprehensive      Surplus reserve                                               Sub-total
                      (share capital)                                 stocks                                                   reserve            profit
                                                                                       income
I.       Closing
balance of the       5,483,645,926.00       2,377,625,094.09       33,828,483.60    111,061,460.18    2,161,802,266.09       2,959,744.97    10,400,490,449.73     20,503,756,457.46     68,703,426.12       20,572,459,883.58
previous year
II.     Opening
balance of the       5,483,645,926.00       2,377,625,094.09       33,828,483.60    111,061,460.18    2,161,802,266.09       2,959,744.97    10,400,490,449.73     20,503,756,457.46     68,703,426.12       20,572,459,883.58
current year
III.         YoY
change
(decrease       is                      -         303,042.85       -32,162,497.20   -24,757,538.57                       -               -     -118,666,878.89       -110,958,877.41      6,079,485.93         -104,879,391.48
indicated      by
“-”)
(I)         Total
comprehensive                           -                      -                -   -24,757,538.57                       -               -    1,690,936,276.69      1,666,178,738.12      6,079,485.93        1,672,258,224.05
income
(II)Owners’
contribution to
                                        -         303,042.85       -32,162,497.20                 -                      -               -                     -      32,465,540.05                      -      32,465,540.05
and reduction
in capital
share-based
                                        -         303,042.85       -32,162,497.20                 -                      -               -                     -      32,465,540.05                      -      32,465,540.05
payment into
owner’s equity
(III)      Profits
                                        -                      -                -                 -                      -               -   -1,809,603,155.58     -1,809,603,155.58                     -   -1,809,603,155.58
distribution
to owners (or                           -                      -                -                 -                      -               -   -1,809,603,155.58     -1,809,603,155.58                     -   -1,809,603,155.58
shareholders)
IV.      Closing
balance of the       5,483,645,926.00       2,377,928,136.94        1,665,986.40     86,303,921.61    2,161,802,266.09       2,959,744.97    10,281,823,570.84     20,392,797,580.05     74,782,912.05       20,467,580,492.10
current period
                 Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the accounting department: ZHAO Difang
                                                        Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                     Statement of Changes in the Parent Company Shareholders' Equity
                                                                           January to June 2026
                                                                                                                                                                                   Unit: RMB
                                                                                                                         H1 2026
                                                                                                              Other
                      Item                          Paid-in capital (share
                                                                                 Capital reserve         comprehensive          Surplus reserve      Undistributed profit        Total owners’ equity
                                                           capital)
                                                                                                             income
I. Closing balance of the previous year                   5,483,559,226.00       1,954,316,050.32           80,299,523.95       2,469,586,880.12        11,366,231,448.66          21,353,993,129.05
II. Opening balance of the current year                   5,483,559,226.00       1,954,316,050.32           80,299,523.95       2,469,586,880.12        11,366,231,448.66          21,353,993,129.05
III. YoY change (decrease is indicated by “-”)                           -                      -          -69,612,172.59                      -        -1,032,346,529.78          -1,101,958,702.37
(I) Total comprehensive income                                           -                      -          -69,612,172.59                      -         1,709,433,083.22           1,639,820,910.63
(III) Profit distribution                                                -                      -                       -                      -        -2,741,779,613.00          -2,741,779,613.00
IV. Closing balance of the current period                 5,483,559,226.00       1,954,316,050.32           10,687,351.36       2,469,586,880.12        10,333,884,918.88          20,252,034,426.68
                                                                                                                      H1 2025
                                                                                                                      Other
                    Item                         Paid-in capital                             Less: treasury                                                  Undistributed            Total owners’
                                                                       Capital reserve                            comprehensive       Surplus reserve
                                                 (share capital)                                stocks                                                          profit                   equity
                                                                                                                     income
I. Closing balance of the previous year           5,483,645,926.00     1,925,838,418.23        33,828,483.60        88,047,505.40      2,161,748,790.26      10,405,287,236.14       20,030,739,392.43
II. Opening balance of the current year           5,483,645,926.00     1,925,838,418.23        33,828,483.60        88,047,505.40      2,161,748,790.26      10,405,287,236.14       20,030,739,392.43
III. YoY change (decrease is indicated by
                                                                   -         303,042.85       -32,162,497.20        -30,102,561.12                      -      -435,245,164.47         -432,882,185.54
“-”)
(I) Total comprehensive income                                     -                     -                    -     -30,102,561.12                      -     1,374,357,991.11        1,344,255,429.99
(II)Owners’ contribution to and reduction in
                                                                   -         303,042.85       -32,162,497.20                      -                     -                    -           32,465,540.05
capital
                                                                   -         303,042.85       -32,162,497.20                      -                     -                    -           32,465,540.05
owners’ equity
(III) Profit distribution                                        -                    -                    -                    -                     -      -1,809,603,155.58       -1,809,603,155.58
IV. Closing balance of the current period         5,483,645,926.00     1,926,141,461.08         1,665,986.40        57,944,944.28      2,161,748,790.26       9,970,042,071.67       19,597,857,206.89
         Head of the Company: CHEN Dezhan, Principal in charge of accounting: BAO Hua, Head of the accounting department: ZHAO Difang
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
III. Company profile
     √Applicable     □Not applicable
          Zhejiang China Commodities City Group Co., Ltd. (hereinafter referred to as the
     "Company") was approved by Document ZG [1993] No. 59 of the Zhejiang Provincial
     Shareholding System Pilot Work Coordination Group and registered with the Yiwu Industrial
     and Commercial Administration of Zhejiang Province on December 28, 1993, obtaining the
     "Business License of Legal Entity" with registration number 14766708-8. The original registered
     name was Zhejiang Yiwu China Commodities City Co., Ltd. On September 26, 1995, the
     Company was renamed Zhejiang China Commodities City Group Co., Ltd. The Company
     currently holds a business license with the unified social credit code of 91330000147641689Y,
     with a registered capital of RMB 5,483,559,226.00 and a total of 5,483,559,226 shares (par
     value of RMB 1 per share). Among these, there are 5,483,559,226 A-shares that are not subject
     to selling restrictions (tradable shares). The Company's shares have been listed on the
     Shanghai Stock Exchange since May 9, 2002.
          The company belongs to the market management service industry. The main business
     activities include industrial investment and development, investment management, market
     development and operation, market supporting services, sales of metal materials, building
     decoration materials, general merchandise, textiles, hardware, electrical and chemical products,
     office equipment and communication equipment (excluding wireless), mechanical and electrical
     equipment, provision of online trading platforms and services, online trading market
     development and operation, and information consulting services. Import and export business of
     goods within the scope of self-operated and domestically sold commodities. Engaged in
     processing with supplied materials and "processing with supplied materials, processing with
     supplied samples, assembling with supplied parts, and compensation trade" business,
     conducting countertrade and entrepot trade, including the business scope of subordinate
     branches.
IV. Basis for the preparation of consolidated financial statements
        The financial statements of the Company were prepared on a going-concern basis.
   √Applicable □Not applicable
       The Company had no events or conditions that casted a major doubt about the
   going-concern ability of the Company within 12 months from the end of the reporting period.
V. Important accounting policies and accounting estimates
   Reminders on specific accounting policies and accounting estimates:
   √Applicable □Not applicable
       Based on its actual production and operational characteristics, the Company has
   formulated specific accounting policies and accounting estimates for transactions or events
   such as financial instrument impairment, inventories, depreciation of fixed assets,
   construction-in-progress, intangible assets, and revenue recognition.
       The financial statements prepared by the Group comply with the requirements of the
   Accounting Standards, and truly and completely reflect the Company’s financial conditions,
   operating results, changes in shareholders’ equity, cash flows and other related information.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    The fiscal year of the Group starts from January 1 and ends on December 31 of the
Gregorian calendar.
√Applicable □Not applicable
    Except for the real estate sector, the Company’s operating businesses have relatively short
operating cycles; therefore, a 12-month period is adopted as the criterion for classifying assets
and liabilities by liquidity. The operating cycle of the real estate industry from property
development to sales realization generally exceeds twelve months; the specific duration is
determined based on individual development projects and serves as the benchmark for
classifying assets and liabilities according to liquidity.
     The Company and its domestic subsidiaries use the Renminbi (RMB) as their functional
currency. Overseas subsidiaries, including Europe Huajie Development Co., Ltd. and Hong
Kong Better Silk Road Co., Ltd., engaged in foreign operations select the currency of the
primary economic environment in which they operate as their functional currency.
√Applicable □Not applicable
                   Item                                         Importance criteria
Significant construction projects in The total investment of a single project exceeds 0.5%
progress                                    of the total assets
Significant prepayments aged over 1
                                            Individual amount exceeding 0.5% of total assets
year
Significant accounts payable with an
                                            Individual amount exceeding 0.5% of total assets
aging of over 1 year
Significant advance receipts with aging
                                            Individual amount exceeding 0.5% of total assets
over 1 year
Significant contractual liabilities with an
                                            Individual amount exceeding 0.5% of total assets
aging of over 1 year
Significant other payables with an
                                            Individual amount exceeding 0.5% of total assets
aging of over 1 year
Important accounts receivable with
                                            Individual amount exceeding 0.5% of total assets
individual provision for bad debts
Important debt investment                   Individual amount exceeding 0.5% of total assets
Significant capitalized R&D projects
                                            Individual amount exceeding 0.5% of total assets
and externally acquired R&D projects
Significant cash flows from investing
                                            Single amount exceeding 5% of total assets
activities
                                            Total assets/total revenue/total profit exceeds 15% of
Significant foreign operating entities
                                            the Group's total assets/total revenue/total profit
Significant                 subsidiaries, Total assets/total revenue/total profit exceeds 15% of
non-wholly-owned subsidiaries               the Group's total assets/total revenue/total profit
                                            The book value of a single long-term equity investment
                                            exceeds 15% of the Group's net assets / The
Significant joint ventures or associates
                                            investment income calculated under the equity method
                                            for a single item exceeds 15% of the Group's total profit
   business combinations not under common control
√Applicable □Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      The mergers of enterprises are divided into the mergers of the enterprises under common
control and mergers of the enterprises not under common control.
      Accounting treatment method for business combination under common control
      The assets and liabilities acquired by the Company in a business combination are
measured at their carrying amounts in the consolidated financial statements of the ultimate
controlling party as of the merger date. The Company adjusts capital reserve based on the
difference between the book value share of the owners' equity of the merged party in the
consolidated financial statements of the ultimate controlling party and the book value of the
merger consideration paid or the total par value of shares issued. If the capital reserve is
insufficient to offset the difference, retained earnings are adjusted.
      Accounting treatment method for business combination not under common control
      On the purchase date, the Company recognizes the difference between the cost of the
combination that is greater than the fair value share of the identifiable net assets of the acquiree
obtained in the combination as goodwill; if the cost of the combination is less than the share of
the fair value of the identifiable net assets of the acquiree acquired in the combination, First,
review the acquired fair value of the acquiree's identifiable assets, liabilities and contingent
liabilities and the measurement of the combination cost. After the review, the combination cost
is still less than the fair value share of the acquiree's identifiable net assets acquired in the
combination, the difference is included in the current profit and loss.
     statements
√Applicable □Not applicable
     Judgment criteria for control
     Control refers to the Company’s power over the investee. The Company enjoys variable
returns by participating in the investee’s related activities, and is able to apply the power to the
investee to affect the amount of the returns.
     Method for preparing consolidated financial statements
     The parent company includes all subsidiaries under its control in the consolidation scope of
the consolidated financial statements. The consolidated financial statements are prepared by
the parent company based on the financial statements of the parent and its subsidiaries, in
accordance with other relevant information and Accounting Standards for Business Enterprises
No. 33—Consolidated Financial Statements.
√Applicable □Not applicable
      Joint arrangements are divided into joint operations and joint ventures.
      When the Company is a joint operator in a joint operation, it recognizes the following items
related to its share of interests in the joint operation:
      (1) Confirm individually held assets and jointly held assets based on ownership shares;
      (2) Recognize individually assumed liabilities and jointly assumed liabilities based on
ownership share
      (3) Recognizing revenue generated from the sale of the Company's share in the output of
joint operations;
      (4) Recognition of income from jointly controlled operations' asset sales based on the
Company's ownership share;
      (5) Recognition of individually incurred expenses and expenses from jointly controlled
operations based on the Company's ownership share.
    Cash presented in the cash flow statement refers to cash on hand and deposits that can be
used for payment at any time. Cash equivalents refer to investments held by a company with
short maturities, strong liquidity, easy conversion to known amounts of cash, and minimal risk of
value changes.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
     Foreign currency business translation
     In the initial recognition of a foreign currency transaction, the foreign currency amount is
translated to a functional currency amount according to the spot exchange rate on the date of
transaction. On the balance sheet date, foreign currency monetary items are translated using
the spot exchange rate on the balance sheet date. Exchange differences arising from changes
in exchange rates, except for those related to the principal and interest of foreign currency loans
specifically borrowed for the acquisition or construction of assets that meet capitalization criteria,
are recognized in the current period’s profit or loss. Foreign currency non-monetary items
measured at historical cost are still translated using the spot exchange rate on the transaction
date, and their RMB amounts remain unchanged. For foreign currency non-monetary items
measured at fair value, the spot exchange rate on the date of fair value determination is used
for translation, and the difference is recognized in the current period’s profit or loss or other
comprehensive income.
     Foreign currency financial statement translation
     Assets and liabilities items in the balance sheet are translated at the spot exchange rate on
the balance sheet date; owners' equity items except the "undistributed profit" item, other items
are translated at the spot exchange rate on the transaction date; Income and expense items
shall be converted at the spot exchange rate on the transaction date. The translation
differences arising from the above conversion of foreign currency financial statements are
recorded in other comprehensive income.
√Applicable □Not applicable
      Classification of Financial Assets and Financial Liabilities
      Financial assets are classified into the following three categories upon initial recognition: (1)
financial assets measured at amortized cost; (2) financial assets measured at fair value through
other comprehensive income; (3) financial assets measured at fair value through profit or loss.
      Financial liabilities are classified into the following four categories upon initial recognition:
(1) financial liabilities measured at fair value through profit or loss; (2) financial liabilities arising
from transfers of financial assets that do not qualify for derecognition or continuing involvement
in transferred financial assets; (3) financial guarantee contracts not falling under (1) or (2) above,
and loan commitments not falling under (1) above that are made at below-market interest rates;
(4) financial liabilities measured at amortized cost.
      Recognition Basis, Measurement Methods, and Derecognition Conditions for
Financial Assets and Financial Liabilities
      (1) Recognition basis and initial measurement methods for financial assets and liabilities
      The Company recognizes a financial asset or financial liability at the time of becoming a
party to a financial instrument contract. Financial assets and financial liabilities are measured at
fair value upon initial recognition: in view of financial assets and financial liabilities measured at
fair value through profit or loss, related transaction costs are directly recorded in the current
profit or loss; in view of financial assets and financial liabilities of other categories, related
transaction costs are recorded in the initially recognized amount. However, if the Company's
initially recognized accounts receivable do not contain significant financing components or the
Company does not consider financing components in contracts not exceeding one year, they
are initially measured at the transaction price as defined in Accounting Standards for Business
Enterprises No. 14 - Revenue.
      (2) Subsequent measurement methods for financial assets
      Subsequent measurement is carried out at amortized cost using the effective interest
method. Gains or losses arising from financial assets measured at amortized cost that are not
part of any hedging relationship are recognized in profit or loss upon derecognition,
reclassification, amortization using the effective interest method, or impairment recognition.
income
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      Subsequent measurement is carried out at fair value. Interest calculated using the effective
interest method, impairment losses or gains, and exchange differences are recognized in profit
or loss, while other gains or losses are recognized in other comprehensive income. Upon
derecognition, the cumulative profit or loss previously recorded in other comprehensive income
is transferred out from other comprehensive income and recorded in the current profit or loss.
earnings
      Subsequent measurement is carried out at fair value. Dividends received (excluding those
representing recovery of investment cost) are recognized in current profit or loss, while other
gains or losses are recognized in other comprehensive income. Upon derecognition, the
cumulative profit or loss previously recorded in other comprehensive income is transferred out
from other comprehensive income and recorded in the retained income.
      Subsequent measurement at fair value results in gains or losses (including interest and
dividend income) being recognized in current profit or loss, unless the financial asset is part of a
hedging relationship.
      (3) Subsequent measurement methods for financial liabilities
      Such financial liabilities include trading financial liabilities (including derivative instruments
that qualify as financial liabilities) and those designated as measured at fair value through profit
or loss. For such financial liabilities, fair value is used for subsequent measurement. Changes in
the fair value of financial liabilities designated as measured at fair value through profit or loss
due to changes in the Company's own credit risk are recognized in other comprehensive
income, unless such treatment would create or enlarge an accounting mismatch in profit or loss.
Other gains or losses arising from such financial liabilities (including interest expenses and fair
value changes not due to changes in the Company's own credit risk) are recognized in current
profit or loss, unless the financial liability is part of a hedging relationship. Upon derecognition,
the cumulative profit or loss previously recorded in other comprehensive income is transferred
out from other comprehensive income and recorded in the retained earnings.
      (2) Financial liabilities arising from financial asset transfers that do not meet derecognition
criteria or involve continued involvement in the transferred financial assets
      Measurement shall be conducted in accordance with the relevant provisions of Accounting
Standards for Business Enterprises No. 23—Transfer of Financial Assets.
not falling under 1) above that provide loans at below-market interest rates.
      After initial recognition, subsequent measurement is based on the higher of the following
two amounts: ① the amount of loss allowance determined in accordance with the impairment
provisions for financial instruments; ② the initial recognition amount minus the cumulative
amortization determined in accordance with the relevant provisions of Accounting Standards for
Business Enterprises No. 14—Revenue.
      Measured at amortized cost using the effective interest method. Gains or losses arising
from financial liabilities measured at amortized cost and not part of any hedging relationship are
recognized in current profit or loss upon derecognition or amortization using the effective
interest method.
      (4) Derecognition of financial asset and financial liabilities
      ①Termination of contract rights to collect cash flows of the financial assets;
      ② The financial asset has been transferred, and the transfer meets the derecognition
criteria for financial assets under Accounting Standard for Business Enterprises No. 23 -
Transfer of Financial Assets.
      Where the current obligations of the financial liabilities (or part of them) have been
extinguished, the Company derecognizes the financial liabilities (or the part of financial
liabilities).
      The recognition basis and measurement method for the financial asset transfer
      If the Company transfers substantially all the risks and rewards of ownership of the
financial asset, it derecognizes the financial asset and separately recognizes any rights and
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
obligations created or retained in the transfer as assets or liabilities; if it retains substantially all
the risks and rewards of ownership, it continues to recognize the transferred financial asset. If a
company neither transfers nor retains substantially all the risks and rewards of ownership of a
financial asset, the following treatments should be applied according to different situations: (1) If
the Company does not retain control over the financial asset, it should derecognize the financial
asset and separately recognize the rights and obligations arising from or retained in the transfer
as assets or liabilities. (2) If the Company retains control over the financial asset, it should
recognize the relevant financial asset to the extent of its continued involvement in the
transferred financial asset, and accordingly recognize the relevant liability.
      If the entire transfer of a financial asset meets derecognition criteria, the difference
between the following two amounts is recognized in profit or loss: (1) the carrying amount of the
transferred financial asset on the derecognition date; (2) the sum of the consideration received
for transferring the financial asset and the cumulative amount of fair value changes originally
recognized in other comprehensive income attributable to the derecognized portion (for
financial assets measured at fair value through other comprehensive income, such as debt
instrument investments). If a portion of a financial asset is transferred and the transferred
portion as a whole meets the derecognition criteria, the carrying value of the financial asset
before the transfer is allocated between the derecognized portion and the continuing
recognized portion based on their relative fair values on the transfer date, and the difference
between the following two amounts is recognized in current profit or loss: (1) the carrying value
of the derecognized portion; (2) the sum of the consideration received for the derecognized
portion and the cumulative amount of fair value changes originally directly recognized in other
comprehensive income that corresponds to the derecognized portion (for financial assets
measured at fair value through other comprehensive income, such as debt instrument
investments).
      Determination method for the fair value of financial assets and financial liabilities
      The Company uses valuation techniques that are appropriate in the current circumstances
and for which sufficient data and other information are available to determine the fair value of
relevant financial assets and financial liabilities. The Company classifies input values used in
valuation techniques into the following hierarchy and applies them sequentially:
      (1) The first-level inputs are unadjusted quoted prices in active markets for identical assets
or liabilities that can be obtained on the measurement date.
      (2) Level 2 inputs are inputs other than quoted prices included within Level 1 that are
observable for the asset or liability, either directly or indirectly, including: quoted prices for
similar assets or liabilities in active markets; quoted prices for identical or similar assets or
liabilities in markets that are not active; other observable inputs such as interest rates and yield
curves observable at commonly quoted intervals; and market-corroborated inputs
      (3) Level 3 inputs are unobservable inputs for the relevant asset or liability, including
interest rates, stock volatility, future cash flows of abandonment obligations assumed in
business combinations, and financial forecasts made using the Company's own data that
cannot be directly observed or verified by observable market data.
      Impairment of financial instruments
      The Company recognizes impairment and establishes loss allowances based on expected
credit losses for: financial assets measured at amortized cost, debt instrument investments
measured at fair value through other comprehensive income, contract assets, lease receivables,
loan commitments not classified as financial liabilities measured at fair value through profit or
loss, and financial guarantee contracts that are not financial liabilities measured at fair value
through profit or loss or do not meet the derecognition criteria for transferred financial assets or
continue to be involved with the transferred financial assets.
      Expected credit losses refer to the weighted average value of the credit losses of financial
instruments weighted by the risk of default. Credit loss refers to the difference between all
contract cash flows receivable under the contract and all cash flows expected to be received,
discounted by the Company at the original effective interest rate, that is, the present value of all
cash shortages. Among them, the credit-impaired financial assets purchased or originated by
the Company shall be discounted at the credit-adjusted effective interest rate of the financial
assets.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      For purchased or originated financial assets that have experienced credit impairment, the
Company recognizes only the cumulative changes in expected credit losses over the entire life
since initial recognition as loss provisions on the balance sheet date.
      For lease receivables, receivables arising from transactions regulated by Accounting
Standards for Business Enterprises No. 14—Revenue, and contract assets, the Company
applies the simplified measurement method, measuring the loss allowance at an amount equal
to the expected credit losses over the entire lifetime.
      For financial assets not measured using the above methods, the Company assesses at
each balance sheet date whether their credit risk has increased significantly since initial
recognition. If the credit risk has increased significantly since initial recognition, the Company
measures the loss allowance at the amount of expected credit losses over the entire lifetime; if
the credit risk has not increased significantly since initial recognition, the Company measures
the loss allowance at the amount of expected credit losses over the next 12 months for the
financial instrument.
      The Company uses available reasonable and evidence-based forward-looking information
to determine whether the credit risk of financial instruments has been confirmed since initial
recognition by comparing the risk of default of financial instruments on the balance sheet date
with the risk of default on the date of initial recognition, has increased significantly.
      At the balance sheet date, if the Company determines that a financial instrument has only
low credit risk, it is assumed that the instrument's credit risk has not increased significantly
since initial recognition.
      The Company assesses expected credit risk and measures expected credit loss based on
individual financial instruments or portfolios of financial instruments. When based on financial
instrument portfolios, the Company classifies financial instruments into different portfolios
based on shared risk characteristics.
      The Company remeasures expected credit losses at each balance sheet date, with
increases or reversals in loss allowances recognized as impairment losses or gains in current
period profit or loss. For financial assets measured at amortized cost, loss allowances reduce
the carrying amount of the financial asset presented in the balance sheet; for debt investments
measured at fair value through other comprehensive income, the Company recognizes loss
allowances in other comprehensive income without reducing the carrying amount of the
financial asset.
      Offset of financial assets and financial liabilities
      In addition, financial assets and financial liabilities are recognized separately in the balance
sheet and are not offset against each other. If the following conditions are met at the same time,
financial assets and financial liabilities are listed in the balance sheet as the net amount after
offsetting each other: (1) There is a legal right to offset the recognized amount, and the legal
right is currently executable; (2) Netting settlement, or realizing the financial asset and paying
off the financial liability at the same time.
      For financial asset transfers that do not meet the derecognition criteria, the Company does
not offset the transferred financial assets and related liabilities.
√Applicable □Not applicable
Combination classification and determination basis of combined provision for bad debt
based on credit risk characteristics
√Applicable □Not applicable
      The Company assesses impairment and recognizes loss allowances for financial assets
measured at amortized cost based on expected credit losses.
      For accounts receivable that do not contain significant financing components, the Company
measures loss reserves based on the expected credit loss amount equivalent to the entire
duration.
      For the financial assets not measured with the simplified method, the Company evaluates
on each balance sheet date whether their credit risks have increased significantly since the
initial recognition. If the credit risk of a financial asset has not increased significantly since the
initial recognition, the asset is in the first stage and the Company will make provision for losses
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
based on the amount of expected credit loss within the coming 12 months and calculate interest
income based on the book balance and effective interest rate; if the credit risk has increased
significantly since the initial recognition, but credit has not been impaired, the asset is in the
second stage and the Company will make provision for loss equivalent to the amount of
expected credit loss during the entire term and calculate interest income based on the book
balance and effective interest rate; if credit has been impaired after the initial recognition, the
asset is in the third stage and the Company will make provision for loss equivalent to the
amount of expected credit loss during the entire term and calculate interest income based on
the amortized cost and effective interest rate.
     The Group evaluates the expected credit losses of financial instruments on the individual
and group bases. The Company considers the credit risk characteristics of different customers,
evaluates the expected credit losses of accounts receivable based on grouping by aging, and
determines the aging based on the invoicing date. Except for the aforementioned financial
instruments that are evaluated for expected credit losses on a grouping basis, the Company
assesses their expected credit losses on an individual basis.
     The disclosure regarding the Company's criteria for determining a significant increase in
credit risk and the definition of credit-impaired assets is as follows:
     The factors reflected in the Company's method of measuring expected credit losses of
financial instruments include: unbiased probability-weighted average amount determined by
evaluating a series of possible outcomes; time value of money; no unnecessary additional cost
or effort on the balance sheet date. Reasonable and evidence-based information that is readily
available about past events, current conditions and forecasts of future economic conditions.
     When the Company no longer reasonably expects to recover all or part of the contractual
cash flows of a financial asset, it directly writes down the carrying amount of the financial asset.
Methods for calculating aging based on the credit risk characteristics combination
confirmed by aging
□Applicable √Not applicable
Judgment criteria for individual provision for bad debt based on individual provision
√Applicable □Not applicable
    For receivables and contract assets with credit risk significantly different from portfolio
credit risk, the Company calculates expected credit losses on an individual basis.
√Applicable □Not applicable
Combination classification and determination basis of combined provision for bad debt
based on credit risk characteristics
√Applicable □Not applicable
    Please refer to Note V - Important Accounting Policies and Accounting Estimates - 12.
Notes Receivable.
Methods for calculating aging based on the credit risk characteristics combination
confirmed by aging
□Applicable √Not applicable
Recognition criteria for individual provision of bad debt
√Applicable □Not applicable
    Please refer to Note V - Important Accounting Policies and Accounting Estimates - 12.
Notes Receivable.
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
Combination classification and determination basis of combined provision for bad debt
based on credit risk characteristics
√Applicable □Not applicable
    Please refer to Note V - Important Accounting Policies and Accounting Estimates - 12.
Notes Receivable.
Methods for calculating aging based on the credit risk characteristics combination
confirmed by aging
□Applicable √Not applicable
Judgment criteria for individual provision for bad debt based on individual provision
√Applicable □Not applicable
    Please refer to Note V - Important Accounting Policies and Accounting Estimates - 12.
Notes Receivable.
√Applicable      □Not applicable
Inventory category, valuation method for issuance, inventory system, amortization
method for low-value consumables and packaging materials
√Applicable □Not applicable
      Classification of inventory
      Inventory includes raw materials, work-in-progress materials, finished goods, real estate
development costs and real estate development products.
      Development costs refer to the properties that have not been completed and are developed
for the purpose of being sold. Development products refer to the properties that have been
completed and are ready for sale. The actual costs of real estate development costs and
development products include the land acquisition cost, expenditures on construction and
installation works, capitalized interest and other direct and indirect development expenses. The
use right of the land for development purpose at the development of a project is amortized and
recognized as the development cost of the project based on the site area of the development
product, and the development cost will be transferred to development product after being
completed.
      Valuation method of issued inventory
      (1) During project development, land designated for development is allocated to the
project’s development costs based on the floor area occupied by the developed products.
      (2) Development products shipped are accounted for using the average method based on
gross floor area.
      (3)If the public auxiliary facilities are completed earlier than the related development
product, the facilities will be allocated to and recognized in the development cost of related
development projects based on the floor space of the project after final accounting of the
facilities upon completion; if the public auxiliary facilities are completed later than the related
development product, they will be recognized in the development cost of related development
project based on the predicted cost of the public auxiliary facilities.
      Inventory system of inventory
      Hotel, catering and fresh goods inventories are subject to onsite inventory, while other
inventories are subject to perpetual inventory.
      Amortization of low-value consumables and packaging materials
      (1) Low-value consumables
      Amortization is carried out according to the one-time write-off method.
      (2) Packaging
      Amortization is carried out according to the one-time write-off method.
Recognition criteria and provision methods for provision for inventory depreciation
√Applicable □Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     On the balance sheet date, inventories are measured at the lower of cost and net realizable
value, and provision for inventory depreciation is made based on the difference between the
cost and the net realizable value. For inventories directly used for sale, in the normal production
and operation process, the net realizable value is determined by the estimated selling price of
the inventory minus the estimated sales expenses and related taxes; for inventories that need
to be processed, in the normal production and operation process, the net realizable value is
determined by the estimated selling price of the finished products produced after deducting the
estimated costs to be incurred upon completion, estimated sales expenses and relevant taxes
and fees; on the balance sheet date, for inventory items where a portion has a contracted price
and the remaining portion does not, the net realizable value is determined separately for each
part. This value is then compared with the corresponding cost to separately determine the
amount of provision for inventory write-down or the reversal thereof.
     In principle, provision is made for individual inventory items; for inventories with large
quantities and low unit prices, inventory write-downs are provided by category.
Combination classification and determination basis for combined provision for inventory
depreciation, and determination basis for net realizable value of inventory of different
categories
□Applicable √Not applicable
Calculation methods and determination basis for the net realizable value of each
inventory age combination based on inventory age confirmation
□Applicable √Not applicable
□Applicable √Not applicable
□Applicable √Not applicable
Recognition criteria and accounting treatment methods for non-current assets or
disposal groups classified as held for sale
□Applicable √Not applicable
Recognition criteria and reporting methods for termination of operations
□Applicable √Not applicable
√Applicable □Not applicable
     Determination of joint control and significant influence
     Joint control refers to the control jointly owned over some arrangement according to the
related provisions, and the related activities of the arrangements must be decided after being
agreed by the participant sharing control. A major impact means that the investor has the power
to participate in decision-making of the investee’s finance and operation policies, but cannot
control or jointly control with other parties the formulation of these policies.
     Determination of investment cost
     (1) Business combination under common control: If the Company pays cash, transfers
non-cash assets or assumes debts, and issues equity securities as the combination
consideration, it shall treat its share in the book value of the owner’s equity of the acquiree listed
in the ultimate controlling party’s consolidated financial statements on the date of the
combination as the initial investment cost of long-term equity investment. The difference
between the initial investment cost of the long-term equity investment and the book value of the
combined consideration paid or the total face value of the issued shares shall be adjusted to the
capital reserve; if the capital reserve is insufficient to offset, the retained earnings shall be
adjusted.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      The Company determines whether the long-term equity investment formed through
step-by-step transactions to achieve a business combination under common control constitutes
a "package deal." For transactions classified as a "package deal," each transaction is
accounted for as a single transaction to obtain control. For transactions not classified as
"package deals," the initial investment cost is determined on the merger date based on the
share of the net assets of the merged party in the consolidated financial statements of the
ultimate controlling party that should be enjoyed post-merger. The difference between the initial
investment cost of the long-term equity investment on the merger date and the sum of the
carrying value of the long-term equity investment before the merger plus the carrying value of
the new consideration paid for additional shares on the merger date is adjusted to capital
reserve; if the capital reserve is insufficient to offset the difference, retained earnings are
adjusted.
      (2) For the merger of enterprises not under the same control, the fair value of the merger
consideration paid on the purchase date shall be taken as its initial investment cost.
      For long-term equity investments formed through step-by-step transactions achieving a
business combination not under common control, the Company applies separate accounting
treatments in individual financial statements and consolidated financial statements:
calculated as the sum of the carrying amount of the originally held equity investment and the
additional investment cost.
For transactions classified as a "package deal," each transaction is accounted for as a single
transaction to obtain control. For transactions not qualifying as "package deals," equity interests
in the acquiree held prior to the acquisition date are remeasured at fair value on the acquisition
date, with any difference between fair value and carrying amount recognized in current
investment income. Other comprehensive income related to such equity interests accounted for
under the equity method is reclassified to profit or loss in the period of acquisition. Except for
other comprehensive income arising from the investee's remeasurement of defined benefit plan
net liabilities or net assets.
      (3) Other than those formed through business combinations: for those acquired by cash
payment, the initial investment cost is based on the actual purchase price paid; for those
acquired by issuing equity securities, the initial investment cost is based on the fair value of the
equity securities issued; for those acquired through debt restructuring, the initial investment cost
is determined in accordance with Accounting Standards for Business Enterprises No. 12—Debt
Restructuring; for those acquired through non-monetary asset exchange, the initial investment
cost is determined in accordance with Accounting Standards for Business Enterprises No.
      Subsequent measurement and recognition of profit and loss
      Long-term equity investments in controlled entities are accounted for using the cost method;
investments in associates and joint ventures are accounted for using the equity method.
      Method for Step-by-Step Disposal of Subsidiary Investments Through Multiple
Transactions Until Loss of Control
      (1) Judgment principles for determining whether it constitutes a "package deal"
      For the step-by-step disposal of equity investments in subsidiaries through multiple
transactions until control is lost, the Company determines whether the step-by-step transactions
constitute a "package deal" by considering the terms of the transaction agreements for each
step, the respective disposal considerations obtained, the parties to whom the equity is sold, the
disposal methods, the timing of disposal, and other relevant information. When the terms,
conditions, and economic effects of multiple transactions meet one or more of the following
circumstances, it typically indicates that the transactions constitute a "package deal":
of each other;
transaction;
with other transactions.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      (2) Accounting treatment for transactions not classified as "package deals"
      For the disposed equity, the difference between its carrying amount and the actual
proceeds received is recognized in profit or loss. For the remaining equity, if it still has
significant influence over the investee or is jointly controlled with other parties, it is accounted
for using the equity method; if control, joint control, or significant influence over the investee can
no longer be exercised, it is accounted for in accordance with the relevant provisions of
"Accounting Standards for Business Enterprises No. 22—Recognition and Measurement of
Financial Instruments."
      Before losing control, the difference between the disposal consideration and the share of
the subsidiary's net assets attributable to the disposed long-term equity investment, calculated
from the acquisition or merger date, is adjusted to capital reserve (capital surplus). If the capital
surplus is insufficient, retained earnings are reduced.
      When the control over a subsidiary is lost, the remaining equity interest is re-measured at
its fair value on the date of losing control. The difference between the sum of the consideration
obtained from the disposal of equity and the fair value of the remaining equity, and the share of
the former subsidiary’s net assets calculated continuously from the acquisition date or
combination date at the original shareholding ratio is included in the investment income in the
period of loss of control. At the same time, goodwill is also written down. Other comprehensive
income related to the equity investment of the original subsidiary shall be converted into
investment income for the current period when the control right is lost.
      (3) Accounting treatment for "package deals"
      Account for all transactions as a single transaction involving the disposal of a subsidiary
and loss of control. However, the difference between each disposal consideration and the
carrying amount of the corresponding long-term equity investment before loss of control is
recognized in other comprehensive income in separate financial statements and transferred to
profit or loss upon loss of control.
      Account for all transactions as a single transaction involving the disposal of a subsidiary
and loss of control. However, any difference between the disposal consideration and the
disposing party's proportionate share of the subsidiary's net assets prior to loss of control is
recognized as other comprehensive income in the consolidated financial statements and
subsequently reclassified to profit or loss upon loss of control.
(1) With the cost measurement model
Depreciation or amortization method
    The Company's investment property includes land use rights leased, land use rights held
and ready to be transferred after appreciation, leased buildings, etc.
    Investment real estate is initially measured at cost, followed by cost model, and is
depreciated or amortized using the same method as fixed assets and intangible assets.
(1) Confirmation conditions
√Applicable □Not applicable
    Property, plant and equipment refer to tangible assets held for the purpose of producing
commodities, providing labor services, leasing or operating management, and with a service life
of more than one fiscal year. Fixed assets are recognized when it is probable that economic
benefits will flow in and the cost can be reliably measured.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Depreciation method
√Applicable □Not applicable
                                             Depreciation period       Residual          Annual
  Category        Depreciation method
                                              (number of years)       value rate     depreciation rate
Buildings and
                 Straight-line method                       10-40             4%            2.40%-9.60%
structures
General
                 Straight-line method                         5-10            4%       9.60%-19.20%
equipment
Transportation
                 Straight-line method                            6            4%                16.00%
equipment
√Applicable □Not applicable
     Construction in progress is recognized when it simultaneously meets the criteria that
economic benefits are probable to flow in and costs can be reliably measured. Construction in
progress is measured at the actual costs incurred before the asset reaches its intended usable
condition.
     When the construction in progress reaches the predetermined usable state, it shall be
transferred to fixed assets according to the actual cost of the project. For those that have
reached the expected usable state but have not yet handled the final settlement of the project,
they shall be transferred to fixed assets at their estimated value. After the final settlement of the
project has been handled, the original provisional estimated value will be adjusted according to
the actual cost, but the depreciation that has been accrued will not be adjusted.
   Category       Criteria and timing for transferring construction in progress to fixed assets
                  The main construction project and supporting works have been substantially
Buildings and
                  completed, met the predetermined design requirements, and passed
structures
                  acceptance inspection
Machinery         Meeting design requirements or contractual standards after installation and
equipment         debugging
Transportation
                  Obtaining a transportation vehicle driving license
equipment
Other             Actual start of use or completion of installation and debugging
√Applicable □Not applicable
     Principles for recognition on capitalization of borrowing costs
     If the borrowing costs incurred by the Company can be directly attributable to the
acquisition or production of assets qualified of capitalization, they shall be capitalized and
included in the cost of the relevant assets; other borrowing costs shall be recognized as
expenses based on the amount incurred when they are incurred and included in current profit
and loss.
     Period of capitalization of borrowing costs
     (1) Capitalization begins when the borrowing costs meet the following conditions at the
same time: 1) The asset expenditure has been incurred; 2) The borrowing costs have been
incurred; 3) The purchase, construction or production necessary to make the asset ready for
use or sale. The event has already started.
     (2) If an asset that meets the capitalization conditions is abnormally interrupted in the
process of acquisition, construction or production, and the interruption lasts for more than 3
consecutive months, the capitalization of borrowing costs shall be suspended; the borrowing
costs incurred during the interruption period shall be recognized as current expenses until the
acquisition, construction or production of the asset resumes.
     (3) When the acquisition or production of assets qualified of capitalization reaches the
intended usable or saleable state, the capitalization of borrowing costs shall cease.
     Capitalization rate of borrowing costs and capitalized amount
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     If a special loan is borrowed for the purchase, construction or production of assets eligible
for capitalization, the interest expense actually incurred in the current period of the special loan
(including the amortization of discount or premium determined according to the effective interest
rate method), minus the unused loan funds. The amount of interest income obtained by
depositing in the bank or the investment income obtained from temporary investment shall be
determined as the amount of interest that should be capitalized; if general borrowings are
occupied for the purchase, construction or production of assets eligible for capitalization, the
accumulated asset expenditure shall be the weighted average number of asset expenditures
exceeding special borrowings is multiplied by the capitalization rate of occupied general
borrowings to calculate and determine the amount of interest that should be capitalized on
general borrowings.
□Applicable √Not applicable
□Applicable √Not applicable
(1) Service life and its determination basis, estimated situation, amortization method or
          review procedure
√Applicable □Not applicable
     Intangible assets, including land use rights, software and software copyright, data
resources, etc., are initially measured at cost.
     Intangible assets with limited service life shall be amortized systematically and reasonably
within the service life according to the expected realization method of the economic benefits
related to the intangible asset. If the expected realization method cannot be reliably determined,
the straight-line method shall be used for amortization. Specific provisions are as follows:
Item                          Useful life and its determination basis        Amortization method
                     The useful life is determined as 40-50 years based
Land use right                                                               Straight-line method
                     on the property rights registration period
Software       and
                     The useful life is determined to be 10 years based on
software                                                                     Straight-line method
                     the expected benefit period
copyright
                     The useful life is determined to be 10 years based on
Data resources                                                               Straight-line method
                     the expected benefit period
(2) The scope of R&D expenditure collection and related accounting treatment methods
√Applicable □Not applicable
    Scope of R&D Expenditure Aggregation
    (1) Personnel labor costs
    Personnel labor costs include salaries and wages of the Company's R&D personnel, basic
pension insurance, basic medical insurance, unemployment insurance, work injury insurance,
maternity insurance, and housing provident fund, as well as service fees for externally hired
R&D personnel.
    For R&D personnel serving multiple R&D projects simultaneously, labor costs are allocated
proportionally among different R&D projects based on the working hour records provided by the
Company's management department.
    For personnel directly engaged in R&D activities and external R&D personnel who also
engage in non-R&D activities, the Company allocates the actual incurred personnel costs
between R&D expenses and production/operating expenses based on reasonable methods
such as the proportion of actual working hours recorded for different positions.
    (2) Direct input expenses
    Direct input costs refer to the actual expenses incurred by the Company for conducting
research and development activities. It includes: 1) Directly consumed materials, fuel, and
power expenses; 2) Molds, tooling development, and manufacturing costs for pilot testing and
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
product trial production, purchase costs of samples, prototypes, and general testing equipment
that do not constitute fixed assets, and inspection fees for trial products; 3) Operation,
maintenance, adjustment, inspection, testing, and repair expenses for instruments and
equipment used in R&D activities.
      (3) Depreciation expense and long-term prepaid expenses
      Depreciation expense refers to the depreciation of instruments, equipment, and buildings in
use for research and development activities.
      For instruments, equipment, and in-use buildings used for R&D activities that are also used
for non-R&D activities, the Company maintains necessary records of their usage and allocates
the actual depreciation expenses between R&D expenses and production/operating expenses
based on factors such as actual working hours and usage area, using a reasonable method.
      Long-term deferred expenses refer to those incurred during the renovation, retrofitting,
decoration, and repair of R&D facilities, which are aggregated based on actual expenditures
and amortized evenly over the specified period.
      (4) Amortization expenses of intangible assets
      Amortization expenses of intangible assets refer to the amortization of software, intellectual
property, and non-patented technologies (proprietary technologies, licenses, design and
calculation methods, etc.) used in research and development activities.
      (5) Design Expenses
      Design expenses refer to costs incurred for conceptualizing, developing, and
manufacturing new products and processes, including designing procedures, technical
specifications, regulations, and operational characteristics, as well as related expenses for
creative design activities aimed at obtaining innovative, creative, and breakthrough products.
      (6) Equipment debugging costs and testing expenses
      Equipment debugging costs refer to expenses incurred during research and development
activities in the tooling preparation process, including the development of special and dedicated
production machines, changes to production and quality control procedures, or the formulation
of new methods and standards.
      Costs incurred for routine tooling preparation and industrial engineering for large-scale
batch and commercial production are not included in the aggregation scope.
      Testing expenses include clinical trial fees for new drug development, field trial fees for
exploration and development technologies, and field test fees, among others.
      (7) Outsourced research and development expenses
      Outsourced research and development expenses refer to costs incurred by the Company
when commissioning other domestic or foreign institutions or individuals to conduct research
and development activities (the results of which are owned by the Company and are closely
related to its main business operations).
      (8) Other expenses
      Other expenses refer to those directly related to research and development activities
beyond the aforementioned expenses, including technical book and material costs, document
translation fees, expert consultation fees, high-tech R&D insurance premiums, costs for
retrieval, demonstration, evaluation, appraisal, and acceptance of R&D results, as well as fees
for intellectual property applications, registrations, and agency services, meeting expenses,
travel expenses, communication costs, etc.
      Expenses for the research phase of internal research and development projects shall be
included in the current profit and loss when incurred. Development expenditures can be
capitalized only when all of the following conditions are met at the same time, that is, it is
technically feasible to complete the intangible asset to make it usable or saleable; there is an
intention to complete the intangible asset and use or sell it; the way for intangible assets to
generate economic benefits, including the ability to prove that there are markets for the
products generated by the intangible assets or the intangible assets themselves. Intangible
assets that will be used internally can prove their usefulness; there are sufficient technology,
financial resources and other resource supports to complete the development of the intangible
asset and ability to use or sell the intangible asset; the expenditure attributable to the
development of such intangible asset can be reliably measured.
      The Company's specific criteria for dividing the research stage expenditure and
development stage expenditure of internal research and development projects:
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     Development expenditures can be capitalized only when all of the following conditions are
met at the same time, that is, it is technically feasible to complete the intangible asset to make it
usable or saleable; there is an intention to complete the intangible asset and use or sell it; the
way for intangible assets to generate economic benefits, including the ability to prove that there
are markets for the products generated by the intangible assets or the intangible assets
themselves. Intangible assets that will be used internally can prove their usefulness; there are
sufficient technology, financial resources and other resource supports to complete the
development of the intangible asset and ability to use or sell the intangible asset; the
expenditure attributable to the development of such intangible asset can be reliably measured.
√Applicable □Not applicable
     For long-lived assets with finite useful lives, such as intangible assets, if indications of
impairment exist as of the balance sheet date, their recoverable amounts shall be estimated.
For the goodwill formed due to the merger of enterprises and the intangible assets with
uncertain service life, the Group carries out impairment tests at least at the end of each year,
regardless of the impairment signs. Goodwill is tested for impairment in combination with its
related asset groups or groups of asset groups.
     If the recoverable amount of the aforementioned long-term assets is lower than their
carrying value, the difference is recognized as an impairment loss and included in current
period profit or loss.
√Applicable □Not applicable
     Long-term prepaid expenses account for expenditures that have been incurred and are
amortized over a period longer than one year (excluding one year). Long-term deferred
expenses are recorded based on the actual amount incurred and amortized evenly over the
benefit period or specified period. If the long-term deferred expense item cannot benefit future
accounting periods, the amortized value of the item that has not been amortized will be fully
transferred to the current period's profit or loss.
√Applicable □Not applicable
     The Company presents contractual assets or contractual liabilities in the balance sheet
based on the relationship between performance obligations and customers’ payments. The
Company offsets contract assets and contract liabilities under the same contract and presents
them at net amounts.
     The Company presents rights to consideration receivable from customers that are
unconditional (i.e., dependent solely upon the passage of time) as accounts receivable; rights to
consideration arising from the transfer of goods to customers, where such rights depend on
factors beyond the mere passage of time, are presented as contract assets.
     Contract liabilities are the Company’s obligations to transfer products to customers since it
has received or shall receive consideration from customers.
(1) Accounting treatment methods for short-term compensation
√Applicable □Not applicable
     The Company recognizes the actual short-term employee remuneration as liabilities during
the accounting period when employees provide services to the Company, and records them in
the current profit or loss or related asset costs.
(2) Accounting treatment method for post-employment benefits
√Applicable □Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      The post employment welfare plan includes a defined contribution plan and a defined
benefit plan.
      (1) During the accounting period in which employees provide services to the Company, the
amount to be contributed as calculated under the defined contribution plan is recognized as a
liability and recorded in current profit or loss or the cost of related assets.
      (2) The accounting treatment for defined benefit plans typically includes the following steps:
assumptions are used to estimate demographic and financial variables, measure the obligations
arising from defined benefit plans, and determine the period to which the obligations belong. At
the same time, the obligations arising from the defined benefit plan are discounted to determine
the present value of the defined benefit plan obligations and the current service cost.
the fair value of the defined benefit plan assets from the present value of the defined benefit
plan obligation is recognized as a net defined benefit liability or asset. If a defined benefit plan
has a surplus, the net assets of the defined benefit plan are measured at the lower of the plan
surplus and the asset ceiling
plans are recognized as three components: service cost, net interest on the net defined benefit
liability or asset, and remeasurements of the net defined benefit liability or asset. Among these,
the service cost and net interest on the net defined benefit liability or asset are included in
current profit or loss or the cost of related assets, while the remeasurements of the net defined
benefit liability or asset are included in other comprehensive income. These amounts
recognized in other comprehensive income cannot be reclassified to profit or loss in subsequent
periods but can be transferred within equity.
(3) Accounting treatment methods for termination benefits
√Applicable □Not applicable
      Where the Group provides severance benefits to its employees, the employee
compensation liabilities arising from the severance benefits will be recognized, and the amount
will be recognized in the profit or loss for the current period on the earlier date below: the date
when the Group cannot unilaterally withdraw the severance benefits provided as a result of the
employment termination plan or downsizing proposal; or the date when the Group recognizes
the costs or expenses relating to the reorganization involving the payment of severance
benefits.
(4) Accounting treatment methods for other long-term employee benefits
√Applicable □Not applicable
     Other long-term benefits provided to employees that meet the conditions of defined
contribution plans are accounted for in accordance with the relevant provisions of defined
contribution plans; other long-term benefits not meeting these conditions are accounted for in
accordance with the relevant provisions of defined benefit plans. To simplify the accounting
treatment, the resulting employee benefit costs are recognized as service costs, net interest on
net liabilities or net assets of other long-term employee benefits, and changes arising from
remeasurement of net liabilities or net assets of other long-term employee benefits, with the
total net amount of these components recognized in current period profit or loss or the cost of
related assets.
□Applicable √Not applicable
□Applicable √Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
□Applicable √Not applicable
(1) Disclosure of accounting policies adopted for revenue recognition and
      measurement by business type
√Applicable □Not applicable
      Revenue Recognition Principle
      On the contract commencement date, the Company evaluates the contract, identifies each
individual performance obligation included in the contract, and determines whether each
individual performance obligation is to be fulfilled over a period of time or at a point in time.
      When one of the following conditions is met, the performance obligation is fulfilled within a
certain period of time; otherwise, the performance obligation is fulfilled at a certain point in time:
(1) the customer obtains and consumes the economic benefits brought by the Company's
performance when the Company performs the contract; (2) the customer can control the
commodities under construction in the process of the Company's performance; (3) the
commodities produced by the Company during the performance of the contract have
irreplaceable purposes, and the Company is entitled to collect payment for the performance part
that has been completed to date throughout the term of the Contract.
      In view of performance obligations fulfilled within a certain period of time, the Company
recognizes revenue according to the progress of performance within that period. When the
performance progress cannot be reasonably determined, if the cost incurred by the Company is
expected to be compensated, the revenue shall be recognized according to the amount of the
cost incurred until the performance progress can be reasonably determined. In view of
performance obligations fulfilled at a certain point in time, the Company recognizes revenue at
the point in time when the customer obtains control over the relevant goods. When judging
whether the customer has obtained the right to control the goods, the Company takes into
account the following signs: the Company has the right to receive the current payment for the
goods, that is, the customer has the obligation to make the current payment for the goods; The
enterprise has transferred the legal ownership of the goods to the customer, that is, the
customer has the legal ownership of the goods; The enterprise has transferred the physical
goods to the customer, that is, the customer has physically occupied the goods; The enterprise
has transferred the main risks and rewards of the ownership of the goods to the customer, that
is, the customer has obtained the main risks and rewards of the ownership of the goods; The
customer has accepted the goods; Other signs indicating that the customer has obtained
control of the goods.
      Revenue Recognition Principles
      (1) The Company shall measure revenue at the transaction price allocated to each
individual performance obligation. The transaction price is the amount of consideration to which
the Company expects to be entitled in exchange for transferring goods or services to a
customer, excluding amounts collected on behalf of third parties and amounts expected to be
refunded to the customer.
      (2) The Company determines the best estimate of the variable consideration based on the
expected value or the most likely amount, but the transaction price including the variable
consideration should not exceed the accumulated recognized revenue when the relevant
uncertainty is eliminated. It is highly unlikely that a significant reversal will occur amount.
      (3) If there is a significant financing component in the contract, the Company shall
determine the transaction price based on the amount payable in cash assuming the customer
obtains control over the commodity or service. The difference between the transaction price and
the contract consideration shall be amortized using the effective interest method during the
contract period.
      (4) For contracts containing two or more performance obligations, the Company allocates
the transaction price to each performance obligation at the contract inception date based on the
relative proportion of the standalone selling prices of the goods promised under each
performance obligation.
      Specific methods for revenue recognition
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     (1) Goods Sales Contract
     Sales contracts between the Company and customers typically include commitments to
transfer goods, which may vary depending on the customer's agreement. As customers are
able to benefit separately from the aforementioned goods or services or use them together with
other readily available resources, and there is no significant integration, modification,
customization, or high correlation between the aforementioned goods or services, the Company
considers them as clearly distinguishable goods and constitutes separate performance
obligations.
     On the basis of comprehensive consideration of the following factors, the Company
recognizes revenue at the time when the customer obtains control over the relevant goods: the
current right to receive payment for the goods, the transfer of the main risks and rewards of
ownership of the goods, the transfer of legal ownership of the goods, the transfer of physical
assets of the goods, and the customer's acceptance of the goods.
     (2) Service Provision Contract
     The service contracts between the Company and customers usually include performance
obligations such as providing the use of shops in the China Commodities City markets and the
supporting services for operation, providing hotel accommodation and catering services,
providing paid use services for funds to external parties of the Group, and providing collection
and payment services.
     As the customer simultaneously obtains and consumes the economic benefits brought by
the Company's performance, the Company recognizes it as a performance obligation fulfilled
over a period of time and recognizes revenue based on the progress of performance, except
when the progress cannot be reasonably determined. Under the output method, the Company
determines the performance progress of the provision of the use of shops in the China
Commodities City markets and the supporting services for operation based on the number of
using days of the shops. When the performance progress cannot be reasonably determined, if
the cost incurred by the Group is expected to be compensated, the income shall be recognized
according to the amount of the cost incurred until the performance progress can be reasonably
determined.
     As the customer simultaneously obtains and consumes the economic benefits brought by
the Company's performance, the Company recognizes it as a performance obligation fulfilled
over a period of time and recognizes revenue based on the progress of performance, except
when the progress cannot be reasonably determined. The Company determines the progress of
performance obligations for hotel accommodation services based on the output method, using
the number of accommodation days. When the performance progress cannot be reasonably
determined, if the cost incurred by the Group is expected to be compensated, the income shall
be recognized according to the amount of the cost incurred until the performance progress can
be reasonably determined.
     For the separate performance obligation of providing hotel catering services, the Company
separately prices the hotel catering services and recognizes revenue upon completion of the
services.
     For real estate sales operations, the Company recognizes revenue upon satisfaction of all
the following conditions: (i) the real estate development project has been completed and passed
inspection and acceptance by competent authorities; (ii) the buyer and seller have entered into
a legally binding sales contract; (iii) the buyer has made the agreed purchase payments in
accordance with the payment terms stipulated in the sales contract; and (iv) the buyer has
obtained control over the relevant property.
(2) Adopting different business models for similar businesses involves different
    revenue recognition methods and measurement methods
□Applicable √Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
     The incremental costs incurred by the Company to obtain contracts that are expected to be
recovered are recognized as contract acquisition costs and recognized as an asset.
     If the cost incurred by the Company for the performance of the contract does not apply to
the scope of the relevant standards such as inventory, fixed assets or intangible assets, and
meets the following conditions at the same time, it is recognized as an asset as the cost of
contract performance:
     (1) The cost is directly related to a current or expected contract, including direct labor,
direct materials, manufacturing expenses (or similar expenses), costs clearly borne by the
customer, and other costs incurred only because of the contract;
     (2) This cost increases the resources that the Company will use in the future to fulfill its
contractual obligations;
     (3) The cost is expected to be recoverable.
     The Company amortizes assets related to contract costs using the same basis as the
recognition of revenue from the related goods or services, and recognizes the amortization as
an expense in the current period.
     If the carrying amount of an asset related to contract costs exceeds the remaining
consideration expected to be received from transferring the goods or services associated with
the asset minus the estimated costs to be incurred, the Company recognizes an impairment
provision for the excess amount and records it as an asset impairment loss. If changes in
factors that previously caused impairment result in the remaining consideration expected to be
received from transferring goods or services related to the asset, minus estimated costs to be
incurred, exceeding the asset's carrying amount, the previously recognized impairment loss is
reversed and included in current profit or loss, provided that the reversed carrying amount does
not exceed what the carrying amount would have been had no impairment been recognized.
√Applicable □Not applicable
     Government grants are recognized when the following conditions are simultaneously met:
(1) the Company can fulfill the conditions attached to the government grant; (2) the Company
can receive the government grant. If a government grant falls within monetary assets, it will be
measured by the amount received or receivable. If a government grant does not fall within
monetary assets, it will be measured by fair value. If the fair value of a grant cannot be
determined reliably, it will be measured by its nominal amount.
     Basis for judgment and accounting treatment of government grants related to assets
     Government documents stipulate that grants used to purchase, construct, or otherwise
form long-term assets are classified as asset-related government grants. If government
documents are unclear, the basic conditions required to obtain the subsidy are used as the
basis for judgment. Subsidies where the basic condition is the acquisition or construction of
long-term assets are classified as asset-related government grants. Government grants related
to assets are deducted from the carrying amount of the relevant assets or recognized as
deferred income. Asset-related government grants are recognized as deferred incomes and
included in the current profit and loss in terms within the service life of the relevant assets in a
reasonable and systematic way. Government subsidies measured in nominal amounts are
directly recognized in the current period's profit or loss. If the relevant assets are sold,
transferred, scrapped or damaged before the end of their useful life, the undistributed balance
of relevant deferred income shall be transferred to the profit and loss of the current period of
asset disposal.
     Basis for judgment and accounting treatment methods of government grants related
to revenue
     Government grants other than those related to assets are classified as government grants
related to income. Government subsidies containing the part related to assets and the part
related to income are accounted for separately according to different parts; if it is difficult to
distinguish, the whole shall be classified as government subsidies related to income.
Government grants related to income, which are intended to compensate for related costs,
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
expenses, or losses incurred in future periods, should be recognized as deferred income. They
are recognized in the profit or loss for the period in which the related costs, expenses, or losses
are recognized, or they offset the related costs. For government grants that compensate for
related costs, expenses, or losses that have already been incurred, they should be directly
recognized in the profit or loss for the current period or offset the related costs.
     Government subsidies related to the Company’s daily operating activities are recorded in
other income or offset related cost expenses according to the essence of the economic
substance. Government subsidies not related to the Company’s daily activities are recorded in
non-operating income and expenditure.
     Accounting Treatment Methods for Policy-Based Preferential Loan Interest
Subsidies
     (1) When the fiscal authority allocates interest subsidy funds to the lending bank, and the
lending bank provides loans to the Company at a policy-based preferential interest rate, the
actual amount of the loan received shall be recorded as the loan’s book value. The related
borrowing costs shall be calculated based on the principal of the loan and the policy-based
preferential interest rate.
     (2) If the finance directly transfers the discounted funds to the Company, the Company will
offset the relevant borrowing costs with the corresponding discounted interest.
√Applicable □Not applicable
      Based on the difference between the book value of assets and liabilities and their tax base
(if the tax base can be determined for items not recognized as assets and liabilities in
accordance with the tax law, the difference between the tax base and its book value), deferred
income tax assets or deferred income tax liabilities are calculated and recognized according to
the applicable tax rate during the period when the asset is expected to be recovered or the
liability is settled.
      The recognition of deferred income tax assets is limited to the amount of taxable income
that is likely to be obtained to offset temporary differences. On the balance sheet date, if there is
conclusive evidence that sufficient taxable income is likely to be obtained in the future period to
offset deductible temporary differences, the deferred income tax assets that have not been
recognized in the previous accounting period shall be recognized.
      On the balance sheet date, the Company reviews the book value of deferred income tax
assets. If it is likely to obtain sufficient taxable income in the future to offset the benefits of
deferred income tax assets, the Group will write down the book value of deferred income tax
assets. When it is likely to obtain sufficient taxable income, the Group will reverse the reduced
amount.
      The current income tax and deferred income tax of the Company are included in the current
profit and loss as income tax expenses or income, but the income tax arising from the following
situations is not included: (1) Business combination; (2) Transactions or events directly
recognized in the owner's equity.
      The Company presents deferred tax assets and deferred tax liabilities as a net amount
when the following conditions are simultaneously met: (1) it has the legal right to settle current
tax assets and current tax liabilities on a net basis; (2) the deferred tax assets and deferred tax
liabilities relate to income taxes levied by the same tax authority on the same taxable entity or
different taxable entities, but in each future period when significant deferred tax assets and
deferred tax liabilities are expected to reverse, the relevant taxable entities intend to settle
current tax assets and current tax liabilities on a net basis or simultaneously acquire assets and
settle liabilities.
√Applicable □Not applicable
Judgment basis and accounting treatment methods for simplifying short-term leases
and low-value asset leases as a lessee
√Applicable □Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      The Company recognizes leases with a lease term not exceeding 12 months and excluding
purchase options as short-term leases on the commencement date of the lease term; Leases
with lower value when a single leased asset is considered a brand new asset are recognized as
low-value asset leases.
      For all short-term leases and leases of low-value assets, the Company recognizes lease
payments in each period of the lease term on a straight-line basis as related asset costs or
current period profit and loss.
      Except for short-term leases and leases of low-value assets accounted for using the
simplified approach mentioned above, the Company recognizes right-of-use assets and lease
liabilities at the commencement date of the lease.
      (1) Right-of-use assets
      The right-of-use asset is initially measured at cost, which includes: 1) the initial
measurement of the lease liability; 2) lease payments made on or before the commencement
date of the lease, less any lease incentives received; 3) initial direct costs incurred by the lessee;
asset, restoring the site on which it is located, or restoring the asset to the condition required by
the lease terms.
      The Company depreciates the right-of-use assets using the straight-line method. Where
the ownership of the leased asset can be reasonably determined at the end of the lease term,
the Company as the lessee shall take depreciation during the remaining useful life of the leased
asset. Where it is not reasonably certain that ownership of the leased asset will be acquired at
the end of the lease term, the Company shall make depreciation within the shorter period of the
lease term or the remaining useful life of the leased asset.
      (2)Lease liabilities
      At the commencement date of the lease, the Company recognizes the present value of the
unpaid lease payments as a lease liability. In calculating the present value of the lease
payments, the Group uses the lease embedded interest rate as the discount rate; If the inherent
interest rate of the lease cannot be determined, the Company's incremental borrowing rate shall
be used as the discount rate. The difference between lease payments and their present value is
recognized as unearned finance charges, with interest expenses recognized during each lease
period at the discount rate used to determine the present value of lease payments, and
recorded in current profit or loss. Variable lease payments that are not included in the
measurement of lease liabilities are recognized in the current period's income statement when
they actually occur.
      After the commencement of the lease term, when there are changes in the substantive
fixed payments, estimated payable amounts of the guaranteed residual value, indices or ratios
used to determine lease payments, or changes in the assessment results or actual exercise of
purchase options, renewal options, or termination options, the Company remeasures the lease
liability based on the present value of the revised lease payments and adjusts the carrying
amount of the right-of-use asset accordingly. If the carrying amount of the right-of-use asset has
been reduced to zero but further reduction of the lease liability is still required, the remaining
amount is recognized in current period profit or loss.
      (3) After-sale leaseback transactions
      The Company evaluates and determines whether the asset transfer in a
sale-and-leaseback transaction constitutes a sale in accordance with Accounting Standards for
Business Enterprises No. 14—Revenue.
      If the asset transfer in a sale and leaseback transaction qualifies as a sale, the Company
measures the right-of-use asset arising from the leaseback based on the portion of the original
asset's carrying amount related to the right of use obtained, and recognizes only the gain or loss
related to the rights transferred to the lessor.
      If the asset transfer in a sale and leaseback transaction does not qualify as a sale, the
Company continues to recognize the transferred asset and simultaneously recognizes a
financial liability equal to the transfer proceeds, accounting for this financial liability in
accordance with "Accounting Standards for Business Enterprises No. 22—Recognition and
Measurement of Financial Instruments."
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Classification criteria and accounting treatment methods for leasing as a lessor
√Applicable □Not applicable
     The lease that transfers virtually all the risks and rewards related to the ownership of the
leased asset on the lease commencement date is a finance lease, and other leases are
operating leases.
     (1)Operating Lease
     The Company recognizes lease receipts as rental income on a straight-line basis over the
lease term. Initial direct costs incurred are capitalized and amortized on the same basis as the
recognition of rental income, and are included in the current period's profit or loss in installments.
Variable lease payments related to operating leases that are not included in lease receipts are
included in profit or loss for the current period when they are actually incurred.
     (2)Financial Lease
     At the commencement date of the lease, the Company recognizes finance lease
receivables at the net investment in the lease (the sum of the present value of the unguaranteed
residual value and lease payments not yet received at the commencement date, discounted
using the interest rate implicit in the lease) and derecognizes the finance lease assets. During
each period of the lease term, the Company calculates and recognizes interest income using
the interest rate implicit in the lease.
     The variable lease payments obtained by the Company as the lessor which are not
recorded in the net lease investment measurement are recorded in the current profit or loss
when they are actually incurred.
     (3) After-sale leaseback transactions
     The Company evaluates and determines whether the asset transfer in a
sale-and-leaseback transaction constitutes a sale in accordance with Accounting Standards for
Business Enterprises No. 14—Revenue.
     If the asset transfer in a sale and leaseback transaction qualifies as a sale, the Company
accounts for the asset purchase in accordance with other applicable accounting standards for
enterprises and accounts for the asset lease in accordance with Accounting Standards for
Business Enterprises No. 21—Leases.
     If the asset transfer in a sale and leaseback transaction does not qualify as a sale, the
Company does not recognize the transferred asset but recognizes a financial asset equal to the
transfer proceeds and accounts for this financial asset in accordance with Accounting
Standards for Business Enterprises No. 22—Recognition and Measurement of Financial
Instruments.
√Applicable □Not applicable
      Measurement of fair value
      The Company measures equity instrument investments at fair value at each balance sheet
date. Fair value refers to the price received from the sale of an asset or paid for the transfer of a
liability by a market player in the orderly transactions on the measurement date. For the assets
and liabilities which are measured or disclosed by fair value in the financial statements, the
levels of fair value are determined based on the lowest-level input of important significance for
the overall measurement of fair values: Level 1 input is the unadjusted offer price for an
identical asset or liability that can be obtained in an active market on the measurement date;
Level 2 inputs are the inputs that are directly or indirectly observable for related assets or
liabilities other than Level 1 inputs; Level 3 inputs are the inputs that are observable for related
assets or liabilities. On each balance date, the Group re-evaluates the assets and liabilities that
are recognized in the financial statements and keeps being measured by fair value so as to
determine whether to change the measurement levels of fair value.
      Significant accounting judgments and estimates
      In the preparation of financial statements, the management needs to make judgments,
estimates and assumptions, which will affect the presented amounts and disclosure of revenue,
expenses, assets and liabilities and the disclosure of contingent liabilities on the balance sheet
date. However, the uncertainty of these assumptions and estimates may result in significant
adjustments to the book value of future affected assets or liabilities.
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     Judgments
     In applying the Company's accounting policies, management has made the following
judgments that have a significant impact on the amounts recognized in the financial statements:
     (1) Operating lease - as a lessor
     The Company has signed lease contracts for investment properties. The Company
considers that, based on the terms of the lease contracts, it retains all significant risks and
rewards of ownership of these properties and therefore treats them as operating leases.
     (2) Classification of investment properties and fixed assets
     The Company classifies the buildings and structures leased out other than for the main
businesses such as market and hotel services as well as the auxiliary land use rights thereof as
investment properties, including but not limited to the auxiliary banking and catering outlets for
market operation and the auxiliary service outlets for hotels. Other buildings and structures
leased out are classified as fixed assets.
     (3) Business model
     The classification of financial assets at initial recognition depends on the Company's
business model for managing these assets. When determining the business model, the
Company considers factors including corporate evaluation methods and the way financial asset
performance is reported to key management personnel, the risks affecting financial asset
performance and their management approaches, as well as the methods by which relevant
business managers are compensated. When assessing whether the objective is to collect
contractual cash flows, the Company needs to analyze and evaluate the reasons, timing,
frequency, and value of the sale of financial assets before their maturity date.
     (4) Contract cash flow characteristics
     The classification of financial assets at initial recognition depends on the characteristics of
the contractual cash flow of the financial assets. For the judgment on whether the contractual
cash flow is the repayment of principal and the payment of interest on outstanding principal,
including the evaluation of the adjustment to the time value of money, it should be judged
whether it is significantly different from the benchmark cash flow; for the financial assets with
the early repayment characteristic, it should be judged whether the fair value of the early
repayment characteristic is extremely low.
     Uncertainties of estimates
     The following are key assumptions regarding the future at the balance sheet date and other
key sources of estimation uncertainty that may result in significant adjustments to the book
value of assets and liabilities in future accounting periods.
     (1) Impairment of financial instruments
     The Company evaluates the impairment of financial instruments with the expected credit
loss model. To apply the model, the Company needs to make significant judgments and
estimates and take into account all reasonable and evidenced information, including
forward-looking information. In making these judgments and estimates, the Company infers
expected changes in debtor credit risk based on historical repayment data combined with
economic policies, macroeconomic indicators, industry risks, and other factors. Different
estimates may affect the provisions for impairment and the provision that has been made for
impairment may not necessarily be equal to the actual amount of impairment loss in the future.
     (2) Net realizable value of property inventory
     The Company's real estate inventory is measured at the lower of cost and net realizable
value, with the calculation of net realizable value requiring the use of assumptions and
estimates. If the management adjusts the estimated price and the costs and expenses to be
incurred until the completion, it will affect the estimate of the net realizable value of the inventory
and the difference will affect the provision for inventory depreciation.
     (3) Impairment of non-current assets other than financial assets (excluding goodwill)
     The Company determines, on the balance sheet date, whether the non-current assets
other than financial assets have a sign of being impaired. Non-current assets other than
financial assets are subject to impairment testing when there are indications that their book
value is irrecoverable. When the book value of an asset or a group of assets is higher than its
recoverable value, i.e. fair value less the disposal expenses or the present value of expected
future cash flow, whichever is higher, the asset or group has been impaired. For the fair value
less the disposal expenses, the Group refers to the agreed selling price or observable market
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
price of the similar asset in a fair transaction, less the cost increase directly attributable to the
disposal of the asset. When predicting the present value of future cash flows, the management
must estimate the expected future cash flows of the asset or group of assets and select an
appropriate discount rate. When identifying a group of assets, the management considers
whether the smallest identifiable group of assets can generate income and cash flows
independently from other departments or units, or the income and cash inflows generated
thereby are mostly independent from other departments or units, and also takes into account
the way of managing or monitoring production and operating activities and the way of making
decisions on the continued use or disposal of the asset. Please refer to Note V. 27 for details.
     (4) Impairment of goodwill
     The Company tests goodwill for impairment at least annually. This requires estimating the
present value of the future cash flows of the asset group or combination of asset groups to
which the goodwill is allocated. When estimating the present value of future cash flows, the
Company needs to estimate the cash flows generated by future asset groups or combinations
of asset groups, and at the same time select an appropriate discount rate to determine the
present value of future cash flows. Please refer to Note V. 27 for details.
     (5) Fair value of non-listed equity investments
     The Company determines the fair value of non-listed equity investments based on the
expected future cash flows discounted at the current discount rate of other financial instruments
with similar contractual terms and risk characteristics. This requires the Company to estimate
expected future cash flows, credit risks, volatility, and discount rates, which introduces
uncertainty.
     (6) Development expenditures
     When determining the amount of capitalization, management must make assumptions on
the expected future cash flow, the applicable discount rate, and the expected benefit period of
the asset.
     (7) Deferred Tax Assets
     To the extent that it is very likely for the Group to have enough taxable income to be offset
against the deductible losses, the Group shall recognize deferred income tax assets in
connection with the outstanding deductible losses. This requires the management to use lots of
judgments to estimate the acquisition time and amount of the taxable income to be acquired in
the future to determine the amount of deferred income tax assets to be recognized, in
consideration of the tax payment planning strategy.
     (8) Lessee incremental borrowing interest rate
     For leases where the interest rate implicit in the lease cannot be determined, the Company
uses the lessee's incremental borrowing rate as the discount rate to calculate the present value
of the lease payments. When determining the incremental borrowing rate, the Company takes
the observable interest rate as the reference basis for determining the incremental borrowing
rate according to the economic environment it is in. On this basis, the Company adjusts the
reference interest rate according to its own situation, the underlying asset situation, the lease
term, the amount of lease liabilities and other specific conditions of the lease business to obtain
the applicable incremental borrowing rate.
(1) Changes in important accounting policies
□Applicable √Not applicable
(2) Changes in important accounting estimates
□Applicable √Not applicable
                        Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         (3) The first execution of new accounting standards or interpretations involving
             adjustments to the financial statements at the beginning of the year of
             implementation starting in 2026
         □Applicable √Not applicable
         □Applicable     √Not applicable
      VI. Taxes
          Major taxes and tax rates
          √Applicable □Not applicable
        Tax                     Base of taxation                                           Rate
                                                                    The Company is a general taxpayer, and the
                                                                    taxable income is calculated for output tax at the
                                                                    tax rates of 13%, 9%, and 6%. Value added tax is
                                                                    calculated and paid based on the difference after
                       Output tax is calculated based on the
                                                                    deducting the input tax allowed for deduction in
                       sales revenue of goods and taxable
                                                                    this period. In addition, for the sale of
                       services computed in accordance
                                                                    self-developed old real estate projects (the
VAT                    with tax laws, and after deducting the
                                                                    contract commencement date specified in the
                       input tax allowed to be credited in the
                                                                    Construction Engineering Construction Permit is
                       current period, the balance is the
                                                                    before April 30, 2016) and the rental of real estate
                       payable VAT.
                                                                    acquired by the Group before April 30, 2016, the
                                                                    simplified tax calculation method is applicable,
                                                                    and the payable tax amount is calculated and
                                                                    paid at a 5% tax rate
                       The appreciation arising from the
                       compensated transfer of state-owned          According to the ratio of value-added to deduction
Land appreciation
                       land use rights and the property             items, a four-level progressive tax rate (30% to
tax
                       rights of above-ground buildings and         60%) will be implemented for exceeding the rate.
                       other attachments.
                       If the tax is levied according to price,
                       the amount is calculated and paid at
                       value of the property after a 30%
Real estate tax                                                     1.2%/12%
                       deduction; if the tax is levied
                       according to rental, the amount is
                       calculated and paid at 12% of the
                       rental income.
Urban
maintenance and        Actual amount of turnover tax paid.          Paid at 5% or 7% of the actual turnover tax paid.
construction tax
Education
                       Actual amount of turnover tax paid.          Paid at 3% of the actual turnover tax paid.
surcharge
Local education
                       Actual amount of turnover tax paid.          Paid at 2% of the actual turnover tax paid.
surcharge
                                                                    Except for the tax incentives listed below and the
                                                                    subsidiaries registered in Prague, Czech
                                                                    Republic, Hong Kong Special Administrative
Corporate income
                       Taxable income.                              Region, Germany, Kenya, Rwanda, and Dubai,
tax
                                                                    the corporate income tax of the Company and its
                                                                    subsidiaries within the Group is calculated and
                                                                    paid at 25% of the taxable income.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Disclosure of taxpayers subject to different income tax rates
√Applicable □Not applicable
                       Taxpayer                                     Income tax rate (%)
Huafrica (Kenya) Investment Development Co., Limited                                       30.00
BETTER SILK ROAD RWANDA Ltd                                                                30.00
European Huajie Investment Development Co., Ltd.                                           19.00
Yiwu China Commodities City (Hong Kong) International
Trade Co., Ltd.
Hong Kong Better Silk Road Co., Ltd.                                                       16.50
Xunchi (Hong Kong) Digital Technology Co., Ltd.                                            16.50
Yiwu Digital Trade Technology Co., Ltd.                                                    16.50
Yixin Digital Wealth Management Co., Ltd.                                                  16.50
Yiwu China Commodities City (Germany) Co., Ltd.                                            15.00
Yiwu China Commodities City Big Data Co., Ltd.                                             15.00
Kuaijietong                                                                                15.00
Zhejiang Yiwugou E-commerce Co., Ltd.                                                      15.00
BETTER SILK ROAD FZE                                         Not subject to corporate income tax
√Applicable □Not applicable
Zhejiang Provincial Accreditation Agency in 2025 issued by the Office of the National High-tech
Enterprise Accreditation Management Leading Group, Yiwu China Commodities City Big Data
Co., Ltd. has been listed in the filing list of high-tech enterprises recognized by Zhejiang
Provincial Accreditation Agency in 2025 and passed the recognition of high-tech enterprises.
The Certificate number is GR202533004132. Date of issue: December 19, 2025. Validity period:
three years. From January 1, 2025 to December 31, 2027, Yiwu China Commodities City Big
Data Co., Ltd. will be subject to a reduced corporate income tax rate of 15%.
Zhejiang Provincial Accreditation Agency in 2024 issued by the Office of the National High-tech
Enterprise Accreditation Management Leading Group, Kuaijietong Payment Service Co., Ltd.
has been listed in the filing list of high-tech enterprises recognized by Zhejiang Provincial
Accreditation Agency in 2024 and passed the recognition of high-tech enterprises. The
Certificate number is GR202433009630. Date of issue: December 6, 2024. Valid period: three
years. Kuaijietong Payment Service Co., Ltd. will be subject to a reduced enterprise income tax
rate of 15% from January 1, 2024 to December 31, 2026.
Zhejiang Provincial Accreditation Agency in 2023 issued by the Office of the National High-tech
Enterprise Accreditation Management Leading Group, Zhejiang Yiwugou E-commerce Co., Ltd.
has been listed in the filing list of high-tech enterprises recognized by Zhejiang Provincial
Accreditation Agency in 2023 and passed the recognition of high-tech enterprises. The
Certificate number is GR202333013352. Date of issue: December 18, 2024. Valid period: three
years. The high-tech enterprise qualification of Zhejiang Yiwugou E-commerce Co., Ltd. was
valid from January 1, 2023, to December 31, 2025. Given that the qualification requires
re-certification upon expiration, Yiwugou Company currently files and pays corporate income
tax on a provisional basis at the preferential rate of 15%. The applicable tax rate will be adjusted
in accordance with the outcome of the re-certification.
□Applicable √Not applicable
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
VII. Notes to items in consolidated financial statements
     √Applicable □Not applicable
                                                                                             Unit: RMB
                        Item                           Closing balance              Opening balance
    Cash on hand                                                 71,514.22                  116,170.82
    Bank deposits                                         3,317,604,608.01            6,781,590,975.53
    Other monetary funds                                     41,820,454.98               34,282,070.65
    Total                                                 3,359,496,577.21            6,815,989,217.00
        In which: amount deposited abroad                    31,416,362.21               37,475,708.55
    Other notes
        Monetary funds with restricted ownership or usage rights are detailed in Note VII. 31.
    Assets with restricted ownership or usage rights.
    √Applicable □Not applicable
                                                                                              Unit: RMB
                                                                                         Reasons and
                 Item                    Closing balance         Opening balance           basis for
                                                                                         determination
    Financial assets that are
    measured by fair value and of
    which the changes in fair value       574,851,137.20         2,093,640,647.73                     /
    are recognized in the profit or
    loss for the current period
    Among them:
           Wealth        management
                                                             -   1,283,121,904.22                     /
    products
           Structured deposits            100,000,000.00           502,236,388.89
           Stocks                         474,851,137.20           308,282,354.62                     /
                   Total                  574,851,137.20         2,093,640,647.73                     /
    Other notes:
    □Applicable √Not applicable
    □Applicable √Not applicable
    (1) List of notes receivable by category
    □Applicable √Not applicable
    (2) Notes receivable pledged by the Company at the end of the period
    □Applicable √Not applicable
    (3) Notes receivable that have been endorsed or discounted by the Company at the end
        of the period and have not yet matured on the balance sheet date
    □Applicable √Not applicable
    (4) Categorized disclosure based on the bad debt provision method
    □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Accounts receivable for which bad debt provision is made individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
Classification basis and bad debt provision ratio for each stage
None
Explanation of significant changes in the book balance of accounts receivable with changes in
loss provisions in this period:
□Applicable √Not applicable
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Notes receivable actually written off during the current period
□Applicable √Not applicable
Important notes receivable written off:
□Applicable √Not applicable
Description of notes written off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
(1) Disclosure based on account age
√Applicable □Not applicable
                                                                                          Unit: RMB
              Account age                       Closing book balance         Opening book balance
Within one year (including one year)                  390,064,734.09                 424,031,116.49
Of which: within one year                             390,064,734.09                 424,031,116.49
Over 3 years                                             9,196,019.64                  7,740,818.97
                  Total                               437,281,199.05                 468,612,379.50
                                                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      (2) Categorized disclosure based on the bad debt provision method
      √Applicable □Not applicable
                                                                                                                                                                       Unit: RMB
                                                       Closing balance                                                                   Opening balance
     Category                Book balance                  Bad debt provision                                   Book balance                Bad debt provision
                                         Proportion                       Provision      Book value                         Proportion                     Provision      Book value
                          Amount            (%)
                                                           Amount         ratio (%)
                                                                                                              Amount           (%)
                                                                                                                                            Amount         ratio (%)
Accounts
receivable for which
bad debt provision
is made individually
Among them:
Lease receivables      6,261,907.10               1.43 6,261,907.10          100.00                  -      6,261,907.10         1.34 6,261,907.10            100.00                  -
Trade receivables 25,061,641.08                   5.73 17,625,677.41          70.33       7,435,963.67     25,061,641.08         5.34 17,625,677.41            70.33       7,435,963.67
Accounts
receivable for which
bad debt provision
is made by group
Among them:
Provision for bad
debts based on the
combination of credit
risk characteristics
       Total         437,281,199.05           /        32,550,999.07          /        404,730,199.98 468,612,379.50             /       30,769,776.54         /        437,842,602.96
      Accounts receivable for which bad debt provision is made individually:
      √Applicable □Not applicable
                                                                                                                                                                       Unit: RMB
                                                                                                             Closing balance
                          Name
                                                         Book balance      Bad debt provision      Provision ratio (%)                      Reason for provision
                                                                                                                          The operating conditions have deteriorated, and recovery
      Zhejiang Jielian Network Technology Co., Ltd.        6,261,907.10            6,261,907.10                  100.00
                                                                                                                          is deemed unlikely.
                                                                                                                          The operating conditions have deteriorated, and full
      Trade receivables                                   25,061,641.08           17,625,677.41                    70.33
                                                                                                                          recovery is deemed unlikely.
                          Total                           31,323,548.18           23,887,584.51                    76.26                              /
      Explanation for making bad debt provision for accounts receivable individually:
      □Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           Explanation for making bad debt provision for accounts receivable by group:
           √Applicable □Not applicable
           Combined provision items: combined provision for bad debts based on credit risk
           characteristics
                                                                                                        Unit: RMB
                                                                  Closing balance
                  Name
                                     Book balance                Bad debt provision          Provision ratio (%)
           Within 1 year               387,834,189.66                   1,967,814.01                          0.51
           Over 3 years                   2,934,112.54                  2,934,112.54                       100.00
                   Total               405,957,650.87                   8,663,414.56                          2.13
           Description of combined provision for bad debts:
           □Applicable √Not applicable
           Provision for bad debts based on the general model of expected credit losses
           □Applicable √Not applicable
           Classification basis and bad debt provision ratio for each stage
           None
           Explanation of significant changes in the book balance of accounts receivable with changes in
           loss provisions in this period:
           □Applicable √Not applicable
           (3) Provisions for bad debts
           √Applicable □Not applicable
                                                                                                        Unit: RMB
                                                                      Amount of change during the
                                                                            current period
               Category                     Opening balance                                             Closing balance
                                                                                      Recovery or
                                                                       Provision
                                                                                         reversal
Accounts receivable for which bad
debt provision is made individually
Accounts receivable for which bad
debt provision is made by group
                  Total                        30,769,776.54           1,781,222.53                -      32,550,999.07
           In which the recovered or reversed amount is important:
           □Applicable √Not applicable
           Other notes:
           None
           (4) Accounts receivable actually written off during the current period
           □Applicable √Not applicable
           Information of write-off of important accounts receivable
           □Applicable √Not applicable
           Description of accounts receivable written off:
           □Applicable √Not applicable
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
        (5) Five debtors with the highest closing balances of accounts receivable and contract
             assets
        √Applicable     □Not applicable
                                                                                             Unit: RMB
                             Closing                 Closing balance Proportion in the total       Closing
                                          Closing
                                                                       closing balance of
                           balance of   balance of     of accounts                               balance of
       Debtor                                                         accounts receivable
                            accounts      contract   receivable and   and contract assets         bad debt
                           receivable      assets    contract assets                              provision
                                                                              (%)
Yiwu           Xiaozici
Construction       and
Development        Co.,
Ltd.
Zhejiang       Dejiang
Stone Co., Ltd.
Dalian     Guanglong
Zhongbang
International    Trade
Co., Ltd.
Dongguan          Sujin
Network Technology        10,171,400.42            -  10,171,400.42                   2.33      4,551,400.42
Co., Ltd.
Zhejiang Zhongtong
Yunpei Food Co., Ltd.
       Total             142,960,274.56                 -   142,960,274.56                   32.70   17,211,096.65
       Other notes
       None
       Other notes:
       □Applicable √Not applicable
       (1) Contract assets situation
       □Applicable √Not applicable
       (2) The amount and reasons for significant changes in book value during the reporting
           period
       □Applicable √Not applicable
       (3) Categorized disclosure based on the bad debt provision method
       □Applicable √Not applicable
       Accounts receivable for which bad debt provision is made individually:
       □Applicable √Not applicable
       Explanation for making bad debt provision for accounts receivable individually:
       □Applicable √Not applicable
       Explanation for making bad debt provision for accounts receivable by group:
       □Applicable √Not applicable
       Provision for bad debts based on the general model of expected credit losses
       □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Classification basis and bad debt provision ratio for each stage
None
Explanation of significant changes in the book balance of contract assets with changes in loss
provisions in this period:
□Applicable √Not applicable
(4) Provision for bad debts of contract assets in this period
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(5) Actual written-off contract assets in this period
□Applicable √Not applicable
Among them, important contract assets write off
□Applicable √Not applicable
Description of contract assets written off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
(1) Accounts receivable financing listed by classification
□Applicable √Not applicable
(2) Accounts receivable financing pledged by the Company at the end of the period
□Applicable √Not applicable
(3) Accounts receivable financing that has been endorsed or discounted by the
Company at the end of the period and has not yet matured on the balance sheet date
□Applicable √Not applicable
(4) Categorized disclosure based on the bad debt provision method
□Applicable √Not applicable
Accounts receivable for which bad debt provision is made individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Classification basis and bad debt provision ratio for each stage
None
Explanation of significant changes in the financing book balance of accounts receivable with
changes in loss provisions in this period:
□Applicable √Not applicable
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Accounts receivable financing actually written off in this period
□Applicable √Not applicable
Among them, important accounts receivable financing written off
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
(7) Changes in accounts receivable financing and changes in fair value in this period:
□Applicable √Not applicable
(8) Other notes:
□Applicable √Not applicable
(1) Presentation of prepayments by aging
√Applicable □Not applicable
                                                                                     Unit: RMB
                            Closing balance                        Opening balance
 Account age
                      Amount             Proportion (%)       Amount           Proportion (%)
Within 1 year    3,933,625,241.83                   98.24 1,482,842,138.79                 96.48
Over 3 years         21,861,366.95                   0.55    24,339,286.95                  1.58
     Total       4,004,091,609.38                  100.00 1,537,011,402.30               100.00
Explanation for failure to settle the prepayments with an account age longer than one year and
in important amounts:
None
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) The five largest advances to suppliers aggregated by debtor at the end of the period
√Applicable □Not applicable
                                                                               Unit: RMB
                                                                     Proportion in total
                    Debtor                      Closing balance      closing balance of
                                                                     prepayments (%)
JBS S.A.                                         454,197,135.47                     11.34
Binzhou Yellow River Oasis Agricultural
Development Co., Ltd.
INDUSTRIAL PESQUERA SANTA PRISCILA S.A.          247,357,280.78                       6.18
NATURAFRIG ALIMENTOS LTDA                        155,593,663.72                       3.89
Sociedad Nacional de Galapagos C.A. SONGA        148,184,125.07                       3.70
                      Total                    1,353,750,045.04                     33.81
Other notes:
None
Other notes
□Applicable    √Not applicable
Presentation of items
√Applicable □Not applicable
                                                                                          Unit: RMB
             Item                            Closing balance                   Opening balance
Other receivables                                  158,098,409.97                    188,280,323.27
             Total                                  158,098,409.97                   188,280,323.27
Other notes:
□Applicable √Not applicable
Interest receivable
(1) Classification of interest receivable
□Applicable √Not applicable
(2) Significant overdue interest
□Applicable √Not applicable
(3) Categorized disclosure based on the bad debt provision method
□Applicable √Not applicable
Accounts receivable for which bad debt provision is made individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
(4) Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Interest receivable actually written off in this period
□Applicable √Not applicable
Important interest receivable written off among them
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Dividend receivable
(1) Dividend receivable
□Applicable √Not applicable
(2) Important dividend receivable with an account age longer than 1 year
□Applicable √Not applicable
(3) Categorized disclosure based on the bad debt provision method
□Applicable √Not applicable
Accounts receivable for which bad debt provision is made individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
(4) Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Dividends receivable actually written off in this period
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Important dividend receivables written off among them
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Other receivables
(1) Disclosure based on account age
√Applicable □Not applicable
                                                                                              Unit: RMB
                Account age                        Closing book balance           Opening book balance
Within one year (including one year)                     134,793,203.52                 169,334,848.99
Of which: within one year                                134,793,203.52                 169,334,848.99
Over 3 years                                               20,727,492.11                 18,268,631.44
Bad debt provision for other receivables                   -3,239,190.40                  -3,296,490.46
                   Total                                 158,098,409.97                 188,280,323.27
(2) Classification based on the nature of accounts
√Applicable □Not applicable
                                                                                             Unit: RMB
           Nature of receivable                    Closing book balance           Opening book balance
Withholdings, deposit and margin                         150,745,297.28                 160,804,796.10
Receivables from export tax rebate                          9,999,550.10                 30,242,723.85
Reserve                                                       592,752.99                    529,293.78
                  Total                                  161,337,600.37                 191,576,813.73
(3) Bad debt provision
√Applicable □Not applicable
                                                                                               Unit: RMB
                                  Stage 1               Stage 2              Stage 3
                                                     Expected credit      Expected credit
                               Expected credit
                                                    loss in the entire   loss in the entire
    Bad debt provision           loss in the                                                     Total
                                                     duration (credit     duration (credit
                                 coming 12
                                                      has not been           has been
                                   months
                                                        impaired)            impaired)
Balance on January 1,
Movements for the current
period
Provision made in the
current period
Current reversal                  65,829.12                                                      65,829.12
Balance on June 30, 2026       3,239,190.40                                                   3,239,190.40
Classification basis and bad debt provision ratio for each stage
None
Significant changes in the book balance of other receivables with changes in loss provisions:
□Applicable √Not applicable
Basis for the bad debt provision made in the current period and for assessing whether the credit
risk of financial instruments has increased significantly:
□Applicable √Not applicable
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           (4) Provisions for bad debts
           √Applicable □Not applicable
                                                                                                         Unit: RMB
                                                              Amount of change during the
                                             Opening                 current period                     Closing
                   Category
                                             balance                          Recovery or               balance
                                                               Provision
                                                                                reversal
           Bad debt provision for
           other receivables
                     Total                  3,296,490.46          8,529.06            65,829.12        3,239,190.40
           Among them, important recovered or reversed amounts:
           □Applicable √Not applicable
           Other notes
           None
           (5) Other receivables actually written off during the current period
           □Applicable √Not applicable
           Of which, important write-offs of other receivables:
           □Applicable √Not applicable
           Notes on the write-off of other receivables:
           □Applicable √Not applicable
           (6) Other receivables from the five debtors with the highest closing balance
           √Applicable □Not applicable
                                                                                                         Unit: RMB
                                                                                                                   Closing
                                                              Weight in the total
                                                                                                                  balance
                                               Closing        closing balance of       Nature of       Account
               Debtor                                                                                              of bad
                                               balance        other receivables       receivable         age        debt
                                                                     (%)
                                                                                                                  provision
                                                                                    Receivables
Yiwu Taxation Bureau, State                                                                            Within 1
Administration of Taxation                                                                             year
                                                                                    rebate
                                                                                                    Within 1
Australia Alpine Group PTY LTD               8,711,379.42                   5.40                                          -
                                                                                                    year
Yiwu Customs, People’s Republic of                                                                  Within 1
China
                                                                                    deposit     and
FUNDACION PARA EL INTERCAMBIO                                                                       2-3
ENTRE YIWU Y ESPANA                                                                                 years
                                                                                                    Within 1
Yiwu Weiniuke Trading Co., Ltd               4,555,000.00                   2.82                                          -
                                                                                                    year
                Total                      35,071,204.33                   21.74            /           /                 -
           (7) Reported as other receivables due to centralized fund management
           □Applicable √Not applicable
           Other notes:
           □Applicable √Not applicable
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             (1) Inventory classification
             √Applicable □Not applicable
                                                                                                               Unit: RMB
                                    Closing balance                                              Opening balance
                                              Provision for
                                                                                                     Provision for inventory
                                               inventory
      Item                               depreciation/provisio
                                                                                                     depreciation/provision
                      Book balance        n for impairment of    Book value       Book balance         for impairment of       Book value
                                                                                                     contract performance
                                         contract performance
                                                                                                              cost
                                                  cost
Raw materials               127,637.49                       -     127,637.49            64,260.94                         -        64,260.94
Finished goods          281,493,272.80                       - 281,493,272.80     1,060,563,849.21                         - 1,060,563,849.21
Development cost      1,049,804,876.84                       - 1,049,804,876.84     803,960,383.53                         -   803,960,383.53
Development
products
       Total          1,408,743,513.20                       - 1,408,743,513.20   2,385,329,502.34                         - 2,385,329,502.34
             (2) Data resources confirmed as inventory
             □Applicable √Not applicable
             (3)   Provision for inventory depreciation/provision for impairment of contract
                performance cost
             □Applicable √Not applicable
             The reason for the reversing or charging off provision for inventory depreciation in this period
             □Applicable √Not applicable
             Provision for inventory depreciation by combination
             □Applicable √Not applicable
             The provision standards for provision for inventory depreciation by combination
             □Applicable √Not applicable
             (4)   The capitalized amount of borrowing costs contained in the closing balance of
                 inventory and its calculation criteria and basis
             √Applicable □Not applicable
                                                                                                Unit: RMB
                                                 Amount of borrowing
                                                    costs capitalized     Calculation standards and
                           Item
                                                included in the closing  basis for capitalized amount
                                                        balance
                                                                        The capitalization amount is
                                                                        recognized based on the
             Yiwu Global Digital Trade Center
             Sales Project
                                                                        the timing when capitalization
                                                                        criteria are met.
                                                                        The capitalization amount is
             The portion proposed to be sold                            recognized based on the
             of the Company's Hangzhou                     3,566,837.05 borrowing interest rate and
             Enclave Project                                            the timing when capitalization
                                                                        criteria are met.
             Sub-total                                                 31,264,713.40                           /
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 (5)   Explanation of amortization amount of contract performance cost in the current
    period
 □Applicable √Not applicable
 Other notes:
 √Applicable □Not applicable
 Inventory-Development Cost                                                 Unit: RMB Currency: RMB
                      Estimated total           Opening            Increase in the
         Item                                                                        Closing balance
                        investment              balance             current period
 Yiwu Global Digital
 Trade        Center
 Office Building and 3,662,400,000.00       509,442,083.12         207,458,784.56     716,900,867.68
 Commercial Street
 Project
 The          portion
 proposed to be
 sold      of     the
 Company's
 Hangzhou Enclave
 Project
 Total                4,220,540,000.00      803,960,383.53         245,844,493.31   1,049,804,876.84
 Inventory-Developed Products                                              Unit: RMB Currency: RMB
                            Opening            Increase in the      Decrease in the     Closing
          Item
                            balance             current period       current period     balance
 Yiwu Global Digital
 Trade Centre—Phases
 T3–T7             and 520,741,008.66                          -     443,423,282.59    77,317,726.07
 Commercial      Street
 Project
 Total                     520,741,008.66                      -     443,423,282.59    77,317,726.07
 □Applicable √Not applicable
 √Applicable □Not applicable
                                                                                       Unit: RMB
              Item                           Closing balance                  Opening balance
Entrusted Loans                                      48,065,999.99                   48,073,333.33
             Total                                   48,065,999.99                   48,073,333.33
 Debt investments due within one year
 □Applicable √Not applicable
 Other debt investments due within one year
 □Applicable √Not applicable
 Other statement for non-current assets due within one year
 None
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 √Applicable □Not applicable
                                                                                             Unit: RMB
                         Item                                Closing balance          Opening balance
Payment business reserve                                        656,792,051.04          928,684,511.79
To-be-deducted input tax                                        314,112,166.41          236,032,908.91
To-be-certified input tax                                        70,284,875.60           71,495,591.07
Prepaid value-added tax                                          19,494,401.09           91,212,190.51
Advance income tax                                               11,241,222.48           12,238,812.84
Entrusted loans to the market traders                              1,574,401.27           1,574,401.27
Less: bad debt provision for entrusted loans                        -185,500.00            -185,500.00
Prepayment of other taxes                                        14,715,421.90           11,854,293.75
                        Total                                 1,088,029,039.79        1,352,907,210.14
 Information related to compensatory assets
 □Applicable √Not applicable
 Other notes:
 None
 (1) Debt investments
 □Applicable √Not applicable
 Changes in provision for impairment of debt investments in this period
 □Applicable √Not applicable
 (2) Important debt investment at the end of the period
 □Applicable √Not applicable
 (3) Provision for impairment
 □Applicable √Not applicable
 Segmentation basis and provision ratio for impairment in each stage:
 None
 Explanation of significant changes in the book balance of debt investments with changes in loss
 provisions in this period:
 □Applicable √Not applicable
 Amount of impairment provision for the current period and the basis for assessing whether there
 is significant increase in the credit risk of financial instruments:
 □Applicable √Not applicable
 (4) Debt investments actually written off in this period
 □Applicable √Not applicable
 Important debt investments written off among them
 □Applicable √Not applicable
 Description of debt investments written off:
 □Applicable √Not applicable
 Other notes:
                        Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           None
           (1) Other debt investments
           □Applicable √Not applicable
           Changes in provision for impairment of other debt investments in this period
           □Applicable √Not applicable
           (2) Other significant debt investments at the end of the period
           □Applicable √Not applicable
           (3) Provision for impairment
           □Applicable √Not applicable
           (4) Other debt investments actually written off in this period
           □Applicable √Not applicable
           Important other debt investments written off among them
           □Applicable √Not applicable
           Description of other debt investments written off:
           □Applicable √Not applicable
           Other notes:
           □Applicable √Not applicable
           (1) Long-term receivables
           √Applicable □Not applicable
                                                                                                      Unit: RMB
                                  Closing balance                               Opening balance                    Range
                                                                                                                     of
       Item                            Bad debt                                      Bad debt
                      Book balance                 Book value       Book balance                  Book value      discount
                                       provision                                     provision
                                                                                                                    rate
Guarantee deposit       8,163,166.91           -   8,163,166.91      8,554,420.30             -   8,554,420.30
Financial assistance
receivable from joint 260,489,038.85           - 260,489,038.85 255,266,032.72                - 255,266,032.72
ventures
        Total         268,652,205.76           - 268,652,205.76 263,820,453.02                - 263,820,453.02       /
           (2) Categorized disclosure based on the bad debt provision method
           □Applicable √Not applicable
           Accounts receivable for which bad debt provision is made individually:
           □Applicable √Not applicable
           Explanation for making bad debt provision for accounts receivable individually:
           □Applicable √Not applicable
           Explanation for making bad debt provision for accounts receivable by group:
           □Applicable √Not applicable
           Provision for bad debts based on the general model of expected credit losses
           □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(3) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(4) Actual long-term accounts receivable written off in this period
□Applicable √Not applicable
Important long-term accounts receivable written off among them
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
                                                                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
          (1) Long-term equity investment situation
          √Applicable □Not applicable
                                                                                                                                                                      Unit: RMB
                                                                                                         Change in the current period
                                                                                                             Investment gains                                                 Closing
                                                                                                                                     Declared
                                                                       Opening balance                            or losses                             Closing balance     balance of
                            Investee                                                           Decrease in                         distribution of
                                                                        (Book value)                          recognized with                            (Book value)      impairment
                                                                                               investment                        cash dividends
                                                                                                                 the equity                                                  provision
                                                                                                                                      or profits
                                                                                                                   method
Yiwu Shanglv                                                              495,087,165.08                  -        24,817,793.64                   -     519,904,958.72               -
Yiwu Rongshang Property Co., Ltd.                                          65,642,099.07                  -                    -                   -      65,642,099.07               -
Yiwu Chuangcheng Property                                                  22,432,434.56                  -           686,036.15                   -      23,118,470.71               -
Yiwu Guoshen Shangbo Property Co., Ltd.                                   230,224,100.33                  -          -198,735.59      122,500,000.00     107,525,364.74               -
Other                                                                      34,014,884.69         129,171.60        -2,049,277.52                   -      31,836,435.57    3,327,216.16
Sub-total                                                                 847,400,683.73         129,171.60        23,255,816.68      122,500,000.00     748,027,328.81    3,327,216.16
Yiwu Huishang Micro-finance Co., Ltd.                                      80,417,977.97                     -        450,350.41                    -     80,868,328.38               -
Huishang Zijing                                                            21,735,824.27                     -      2,292,314.94                    -     24,028,139.21               -
Chouzhou Financial Lease                                                  616,776,809.63                     -     74,742,545.92                    -    691,519,355.55               -
Yiwu China Commodities City Investment Management Co., Ltd.                            -                     -                 -                    -                 -    9,508,049.22
Yiwu China Commodities City Fuxing Investment
Center (Limited Partnership)
Pujiang Lvgu Property Co., Ltd.                                           417,546,857.53                     -         731,079.98                   -     418,277,937.51                 -
CCCP                                                                    3,005,625,118.73                     -        -565,903.49                   -   3,005,059,215.24                 -
Yiwu Hongyi Equity Investment Fund Partnership (Limited Partnership)      900,126,993.42                     -       7,135,940.05                   -     907,262,933.47                 -
Zhijie Yuangang                                                           150,735,923.03                     -      -2,229,843.83                   -     148,506,079.20                 -
Yiwu Huishang Redbud Phase II Investment Partnership
(limited partnership)
Other                                                                     151,045,334.01                  -          -856,295.30                   -      150,189,038.71               -
Sub-total                                                               5,589,372,768.58       5,256,302.57        81,394,111.33        3,543,697.43    5,661,966,879.91   9,508,049.22
                               Total                                    6,436,773,452.31       5,385,474.17       104,649,928.01      126,043,697.43    6,409,994,208.72   12,835,265.38
                                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Impairment testing of long-term equity investments
□Applicable √Not applicable
Other notes
                                                                                                                        Unit: RMB
                                                                                           Increase in the       Decrease in the      Closing
                              Investee                            Opening balance
                                                                                            current period        current period      balance
       Yiwu  China   Commodities          City    Investment
       Management Co., Ltd. [Note 1]
       Other                                                           3,327,216.16                          -                 -     3,327,216.16
       Total                                                          12,835,265.38                          -                 -    12,835,265.38
    Note 1: In 2017, the Company’s wholly-owned subsidiary CCCEI and Shanghai Fuxing Industry Group Co., Ltd. (“Fuxing Group”) jointly
established an industry fund Yiwu China Commodities City Fuxing Investment Center (Limited Partnership) (hereinafter referred to as the “FOF”). The
FOF as a limited partner invested in 12 sub-funds including Yiwu Shangfu Chuangzhi Investment Center (Limited Partnership) (“Shangfu Chuangzhi
Fund”). CCCEI has committed a capital contribution of RMB 998.00 million as a limited partner in the FOF, accounting for 49.9% of the committed
capital, with a paid-in capital of RMB 102.92 million, and there is no specified deadline for the remaining unfunded commitment. The other limited
partner of the FOF is Fuxing. CCCEI also contributed RMB 9.8 million, 49% of total shares, to jointly establish Yiwu China Commodities City
Investment Management Co., Ltd. (hereinafter referred to as “CCCIM”) with Fuxing. CCCIM acts as the general partner of the above-mentioned FOF
and sub-funds. The FOF and CCCIM are both controlled by Fuxing and are joint ventures of CCCEI.
    CCCEI also serves as a limited partner in the Shangfu Chuangzhi Fund, with a committed and paid-in capital contribution of RMB 617.51 million.
Because this contribution is backed by a fixed-income guarantee from Fuxing, it is recognized as other non-current financial assets. The above paid-in
capital contribution made by CCCEI to the FOF has been contributed to Shangfu Chuangzhi Fund together with the capital contribution of Fuxing to
the FOF through the FOF as a limited partner. With the capital contribution from the FOF as a limited partner and CCCEI’s capital contribution to
Shangfu Chuangzhi Fund as a limited partner, Shangfu Chuangzhi Fund made capital contribution of RMB 820.54 million to subscribe for the increase
in the registered capital of Hubei Provincial Asset Management Co., Ltd. to acquire 22.667% equity therein.
                                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    In 2018, during the follow-up management process CCCEI learned that Fuxing and its actual controller Zhu Yidong were suspected of criminal
activities. The 22.667% equity held in Hubei Asset Management Co., Ltd. by Shangfu Chuangzhi Fund was frozen by the Second Intermediate
People’s Court of Shanghai due to the funding source including contributions from Fuxing. As of June 30, 2026, the Company considered that the
capital contributions to the FOF and the Shangfu Chuangzhi Fund are independent of Fuxing's contributions and are not impaired. However, with
respect to the equity investment in CCCIM, a full impairment provision has been made since 2018.
                                        Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(1) Investments in other equity instruments
√Applicable □Not applicable
                                                                                                                                              Unit: RMB
                                  Change in the current period                                                                              Reason for
                                                                                                         Accumulated       Cumulative
                                                                                          Dividend                                        designing it as
                                     Gains            Losses                                                 gains            losses
                                                                                           income                                           measured at
                  Opening        recognized in     recognized in         Closing                         recognized in    recognized in
      Item                                                                               recognized                                          fair value
                  balance            other             other             balance                             other             other
                                                                                            in this                                        through other
                                comprehensive     comprehensive                                         comprehensive    comprehensive
                                                                                            period                                        comprehensive
                                income for this   income for the                                            income           income
                                                                                                                                              income
                                    period         current period
Shenwan
Hongyuan
Group Co.,
Ltd.
      Total    661,002,071.26   -92,816,230.12                    -   568,185,841.14                -    10,920,307.60                -   /
(2) Description of termination of recognition in this period
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                        Unit: RMB
                  Item                         Closing balance                Opening balance
PE investment                                     1,343,944,658.41               1,364,268,158.68
Unlisted equity investment                          194,758,798.82                 194,758,798.82
NEEQ equity investment                               36,613,499.09                  36,613,499.09
                 Total                            1,575,316,956.32               1,595,640,456.59
Other notes:
None
Measurement models
(1)   Investment properties measured at cost
                                                                                             Unit: RMB
                                  Buildings and
           Item                                            Land use right                  Total
                                   structures
I. Original book value
                                               -                     -                               -
period
    (1) Purchased                              -                     -                               -
period
    (1) Disposal                  374,550,332.12         72,038,815.36               446,589,147.48
    (2) Other transfer-out                     -                     -                            -
    (3)Other decrease               3,426,539.45          1,375,263.15                 4,801,802.60
II. Accumulated depreciation and accumulated amortization
period
    (1) Provision or
amortization
period
    (1) Disposal                   13,272,277.73         12,422,676.56                25,694,954.29
III. Depreciation provision
IV. Book value
(2)   Investment properties for which property ownership certificates have not been
   obtained:
□Applicable √Not applicable
                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(3) Impairment testing of investment real estate using cost measurement model
□Applicable √Not applicable
Other notes
□Applicable         √Not applicable
Presentation of items
√Applicable □Not applicable
                                                                                                Unit: RMB
                    Item                             Closing balance                 Opening balance
Fixed assets                                             7,540,344,417.07                7,695,778,566.77
                    Total                                7,540,344,417.07                7,695,778,566.77
Other notes:
None
Fixed assets
(1) Overview of fixed assets
√Applicable □Not applicable
                                                                                                  Unit: RMB
                                     Buildings and         Machinery       Transportation
             Item                                                                                Total
                                      structures           equipment         equipment
I. Original book value:
   (1) Purchase                                    -     4,930,322.13    634,852.38      5,565,174.51
   (2) Changeover from
construction in                       54,099,040.14        67,039,669.93                -   121,138,710.07
progress
                                                     -     39,018,789.05        2,150.00     39,020,939.05
current period
   (1) Disposal or retirement                    -    39,018,789.05             2,150.00     39,020,939.05
II. Accumulated depreciation
    (1) Provision                   162,473,604.41 117,008,199.04           1,124,566.97   280,606,370.42
current period
   (1) Disposal or retirement                         37,487,211.19             2,064.00    37,489,275.19
III. Depreciation provision
IV. Book value
(2) Temporarily idle fixed assets
□Applicable √Not applicable
(3) Fixed assets leased out through operating lease
□Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           (4) Fixed assets for which the ownership certificates have not been obtained
           √Applicable □Not applicable
                                                                                                   Unit: RMB
                                                           Reasons for having not obtained the ownership
                   Item              Book value
                                                                               certificate
           Huangyuan                                     The property rights application process has not yet
           Clothing Market                               been completed
                                                         The property rights application process has not yet
           CCC Hotel                   42,449,858.47
                                                         been completed
           Sub-total                  231,879,187.59     /
           (5) Impairment testing of fixed assets
           □Applicable √Not applicable
           Other notes:
           □Applicable √Not applicable
           Fixed asset liquidation
           □Applicable √Not applicable
           Presentation of items
           √Applicable □Not applicable
                                                                                                        Unit: RMB
                         Item                           Closing balance                      Opening balance
           Construction in progress                           398,677,168.91                       187,453,942.15
                        Total                                  398,677,168.91                      187,453,942.15
           Other notes:
           None
           Construction in progress
           (1) Overview of construction in progress
           √Applicable □Not applicable
                                                                                                          Unit: RMB
                                            Closing balance                                   Opening balance
            Item                               Impairment                                       Impairment
                               Book balance                      Book value       Book balance                Book value
                                                provision                                        provision
"Belt and Road" Innovation
Center
Global Service Trade Center   121,731,375.88              - 121,731,375.88                     -          -               -
Global Digital Trade Center                -              -              -         61,915,685.79          -   61,915,685.79
Proposed retained portion of
the Company’s Hangzhou 35,254,303.98                      -     35,254,303.98       1,545,782.40          -    1,545,782.40
Enclave Project
The    Yiwu     Comprehensive
                                           -                                  -    33,104,153.82          -   33,104,153.82
Bonded Zone Project
Ocean Hotel Renovation and
Upgrading
Other projects                 47,899,512.21              -  47,899,512.21          3,036,457.34          -   3,036,457.34
              Total           398,677,168.91              - 398,677,168.91        187,453,942.15          - 187,453,942.15
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            (2) Changes to important construction in progress during the current period
            √Applicable □Not applicable
                                                                                  Unit: RMB 10,000
                                                  Amount             Ratio of
                                                  transferr                                        In which:
                                                                     accumu                                      Interest
                                     Increase        ed to                              Accumul capitalize
                                                 investme     Closing lated                                   capitalization
             Budget      Opening       in the                                 Progress     ated    d interest                Source of
 Item                                                  nt     balanc investm                                   ratio for the
            [Note 2]     balance      current    propertie            ent to of project capitalize   in the                   funds
                                                                 e                                               current
                                      period      s during
                                                                      budget            d interest current
                                                      this                                                      period (%)
                                                    period             (%)                           period
Global
Digital                                                                                                                       Self-owned
Trade                                                                                                                         /financing
Center
Global
Service                                                                                                                       Self-owned
Trade                                                                                                                         /financing
Center
 Total    1,052,509.58    6,191.57 14,679.79     8,698.22     12,173.14    /          /     6,389.51   120.97     /              /
            Note 2: The budget amount is for the project construction investment budget, excluding land
            acquisition costs.
            (3) Provision for impairment of construction in progress in this period
            □Applicable √Not applicable
            (4) Impairment testing of construction in progress
            □Applicable √Not applicable
            Other notes
            □Applicable     √Not applicable
            Engineering materials
            □Applicable √Not applicable
            (1) Productive biological assets measured at cost
            □Applicable √Not applicable
            (2) Impairment testing of productive biological assets using cost measurement model
            □Applicable √Not applicable
            (3) Productive biological assets measured at fair value
            □Applicable √Not applicable
            Other notes
            □Applicable     √Not applicable
            (1) Situation of oil and gas assets
            □Applicable √Not applicable
            (2) Impairment testing of oil and gas assets
            □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Other notes:
None
(1) Situation of right-of-use assets
√Applicable □Not applicable
                                                                                               Unit: RMB
          Item                Buildings and structures             Land                       Total
I. Original book value
                                                         -                       -                      -
current period
current period
   (1) Due                               2,123,051.34                        -           2,123,051.34
   (1) Other                             7,241,131.36                        -           7,241,131.36
II. Accumulated depreciation
current period
    (1) Provision                        9,364,059.20              3,025,202.10          12,389,261.30
current period
    (1) Disposal                                    -                         -                     -
    (2) Due                              2,123,051.34                         -          2,123,051.34
    (3) Other                            5,370,514.09                         -          5,370,514.09
III. Depreciation provision
IV. Book value
(2) Impairment testing of right-of-use assets
□Applicable √Not applicable
Other notes:
None
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(1) Intangible assets
√Applicable □Not applicable
                                                                                                  Unit: RMB
                                                    Software and
                                                                          Data
         Item                  Land use right         software                                  Total
                                                                       resources
                                                     copyright
I. Original book value
current period
   (1) Purchase                 3,319,876,469.82         85,270.00                 -      3,319,961,739.82
   (2) Internal R&D                             -     1,528,301.88                 -             1,528,301.88
                                                -        13,283.67                 -                13,283.67
current period
   (2)Other                                     -        13,283.67                 -                13,283.67
II. Accumulated amortization
current period
   (1) Provision                 127,017,052.51       9,413,822.79      1,633,472.11           138,064,347.41
                                                -        13,283.67                 -                13,283.67
current period
   (2)Other                                     -        13,283.67                 -                13,283.67
III. Depreciation provision
IV. Book value
The proportion of intangible assets developed internally during this period accounts for 1.57% of
the total intangible asset balance.
(2) Data resources confirmed as intangible assets
√Applicable □Not applicable
                                                                                                  Unit: RMB
                                                             Self-developed data
                        Item                                                                      Total
                                                      resources as intangible assets
I. Original book value
II. Accumulated amortization
III. Depreciation provision
            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
IV. Book value
Other notes:
    Important Single Data Resource Status
                                                                                    Remaining
                                                                 Closing book
Data Resource Content                                                               Amortization
                                                                 value
                                                                                    Period
The "AI Independent Website" project based on
AI-generated related technologies
The "AI Intelligent Translator" project based on
WEBSOCKET technology and SSM framework
Development of the “CCC Virtual Employee Agent” Product
Based on AI Large Language Model Technology
The "Xiaoshang Yingke" project based on SPRINGCLOUD
microservice framework technology
The    "Xiaoshang      Zhaohuo"   project  based    on
SPRINGCLOUD microservice framework technology
Development of the “Alliance Website” System Based on
WordPress Multisite Technology
The "BenBen Zhaohuo" project based on SPRINGCLOUD
microservice framework technology
Development of the “Industry Website” System Based on
TRAE Technology
Sub-total                                                        27,387,098.65      /
(3) Fixed assets for which the land use certificate have not been obtained
□Applicable √Not applicable
(4) Impairment testing of intangible assets
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
(1) Original book value of goodwill
√Applicable □Not applicable
                                                                                           Unit: RMB
                                                             Increase in the
 The name of the invested                                     current period
  unit or matters forming         Opening balance              Formed by a          Closing balance
          goodwill                                              business
                                                               combination
Zhejiang   Xunchi    Digital
Technology Co., Ltd.
           Total                     284,916,367.87                             -   284,916,367.87
(2) Provision for impairment of goodwill
□Applicable √Not applicable
                 Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    (3)    Relevant information on the asset group or group of asset groups where goodwill
         is located
    √Applicable □Not applicable
                                                                                            Whether it
                                                                          Operating
                                                                                               was
                         The composition of the asset group or       segment to which
     Name                                                                                   consistent
                       combination to which it belongs and basis       it belongs and
                                                                                             with the
                                                                            basis
                                                                                          previous year
                  It is composed of Kuaijietong Payment Services
                  Co., Ltd., a subsidiary of Zhejiang Xunchi Digital
                  Technology Co., Ltd. Since the synergistic effect For          internal
                  of the acquisition of Xunchi Group is reflected in management
                  the Kuaijietong's subsidiaries, the main cash purposes,            this
Kuaijietong
                  flow generated by the Kuaijietong's subsidiaries asset           group       Yes
asset group
                  is independent of other subsidiaries of the combination
                  Group, and the Group manages the production belongs to other
                  activities of the Kuaijietong's subsidiaries segments.
                  independently, so the goodwill is allocated to
                  the Kuaijietong asset group.
    Changes in asset groups or asset group combinations
    □Applicable √Not applicable
    Other notes
    √Applicable □Not applicable
        In July 2022, the Company acquired 100% equity of Zhejiang Xunchi Digital Technology
    Co., Ltd. and Kuaijietong Payment Services Co., Ltd., a wholly-owned subsidiary of Zhejiang
    Xunchi Digital Technology Co., Ltd., resulting in a goodwill of RMB 284,916,367.87.
    (4) The specific method for determining the recoverable amount
    The recoverable amount is determined based on the net amount after deducting disposal
    expenses from fair value
    □Applicable √Not applicable
    The recoverable amount is determined based on the present value of expected future cash
    flows
    □Applicable √Not applicable
    Reasons for significant discrepancies between the aforementioned information and the
    information used in previous year's impairment testing or external information
    □Applicable √Not applicable
    Reasons for significant discrepancies between the information used in the Company's previous
    year’s impairment testing and the actual situation of that year
    □Applicable √Not applicable
    (5) Performance commitments and corresponding impairment of goodwill
    When goodwill is formed, there is a performance commitment and the reporting period or the
    previous period in the reporting period is within the performance commitment period
    □Applicable √Not applicable
    Other notes:
    □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                               Unit: RMB
                                                                   Amortized
                                           Increase in the
      Item           Opening balance                             amount in the        Closing balance
                                            current period
                                                                 current period
Decoration of
buildings and         404,194,341.29         63,380,705.98        86,806,359.27        380,768,688.00
structures
Advertising
facilities
        Total         423,899,385.08         63,581,150.15        89,053,197.21        398,427,338.02
Other notes:
None
(1) Deferred income tax assets having not been offset
√Applicable □Not applicable
                                                                                          Unit: RMB
                                     Closing balance                        Opening balance
         Item                 Deductible         Deferred             Deductible        Deferred
                              temporary         income tax            temporary        income tax
                              difference          assets              difference         assets
Provision for
impairment of assets
Recognized but
unpaid liabilities
Lease liability
temporary difference
Asset-related
government grants
Other non-current
financial assets            125,015,406.01       31,253,851.50     125,015,406.01        31,253,851.50
Changes in Fair Value
          Total             517,495,869.12     129,373,967.28      519,572,040.53      129,560,282.34
(2) Deferred income tax liabilities having not been offset
√Applicable □Not applicable
                                                                                            Unit: RMB
                                      Closing balance                       Opening balance
         Item                   Taxable           Deferred             Taxable          Deferred
                               temporary         income tax           temporary        income tax
                               difference          liabilities        difference         liabilities
Asset evaluation
appreciation for
merger of the                 8,304,542.52        2,076,135.63        8,399,039.17           2,099,759.77
enterprises not under
common control
Change in fair value of
other equity
instruments
investment
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Changes in fair value
of other non-current      324,198,645.68        81,049,661.42      324,198,645.68      81,049,661.42
financial assets
Changes in fair value
of trading financial      414,851,233.76      103,712,808.44       253,640,744.29      63,410,186.07
assets
Right-of-use asset
temporary difference
        Total             837,742,408.84      209,435,602.21       772,467,848.24     193,116,962.03
(3) Deferred tax assets or liabilities presented as net amount after offsetting
√Applicable □Not applicable
                                                                                           Unit: RMB
                                     Closing balance                         Opening balance
                                                 Balance of                             Balance of
                              Deferred             deferred            Deferred           deferred
         Item                income tax          income tax           income tax        income tax
                             assets and           assets or           assets and         assets or
                          liabilities offset   liabilities after   liabilities offset liabilities after
                                                  offsetting                             offsetting
Deferred income tax
assets
Deferred income tax
liabilities
(4) Details of unconfirmed deferred tax assets
√Applicable □Not applicable
                                                                                         Unit: RMB
            Item                         Closing balance                     Opening balance
Deductible temporary
difference
Deductible losses                                 215,858,368.72                      170,407,115.70
            Total                                 246,140,108.89                      210,724,463.19
(5)   The deductible losses of unconfirmed deferred tax assets will expire in the
    following years
√Applicable □Not applicable
                                                                        Unit: RMB
        Year           Closing amount     Opening amount           Remarks
       Total               215,858,368.72    170,407,115.70           /
Other notes:
√Applicable □Not applicable
    The Group believes that the above temporary differences in fixed asset depreciation, asset
impairment provisions, and deductible losses of some subsidiaries can be offset in the
                                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                foreseeable future, and it is expected that the Group will have sufficient pre-tax profits to offset
                during the reversal period. Therefore, the Group deemed it necessary to recognize the above
                deferred income tax assets.
                √Applicable □Not applicable
                                                                                                                               Unit: RMB
                                                    Closing balance                                      Opening balance
                       Item                           Impairment                                           Impairment
                                       Book balance                      Book value         Book balance                       Book value
                                                       provision                                            provision
                Prepaid        land
                transfer fees
                Large-denominatio
                n Certificates of     521,813,107.78                -   521,813,107.78     316,806,910.24              -   316,806,910.24
                Deposit
                Long-term     asset
                prepayment
                       Total          732,921,382.51                -   732,921,382.51     713,975,826.35              -   713,975,826.35
                Information related to compensatory assets
                □Applicable √Not applicable
                Other notes:
                None
                √Applicable □Not applicable
                                                                                                                               Unit: RMB
                                       Closing amount                                                     Opening amount
                                                                         Restri                                                             Restric
                                                                                                                                 Restri
    Item                                                   Restricti     ction                                                                tion
                   Book balance           Book value                                  Book balance            Book value         ction
                                                           on type       situati                                                            situatio
                                                                                                                                 type
                                                                           on                                                                   n
                                                                                                                                 Freezi
Monetary                                                   Freezing      [Note                                                              [Note
funds                                                      , etc.        3]                                                                 3]
                                                                                                                                 etc.
Held-for-trad                                                                                                                    Restri
                                                           Restricte     [Note                                                              [Note
ing financial       474,851,137.20       474,851,137.20                                  308,282,354.62      308,282,354.62      cted
                                                           d sale        4]                                                                 4]
assets                                                                                                                           sale
Long-term
                                                                         [Note                                                   Froze      [Note
equity              102,918,559.00       102,918,559.00    Frozen                        102,918,559.00      102,918,559.00
investment
Other
non-current                                                              [Note                                                   Froze      [Note
financial                                                                5]                                                      n          5]
assets
Other
                                                                         [Note                                                   Pledg      [Note
current             656,792,051.04       656,792,051.04    Pledged                       928,684,511.79      928,684,511.79
assets
   Total           1,933,952,023.58     1,933,952,023.58       /            /         2,029,824,801.62      2,029,824,801.62        /          /
                Other notes:
                     [Note 3] As of June 30, 2026, bank deposits with a book value of RMB 0 (December 31,
                use as risk reserves for express payment services; other monetary funds with a book value of
                RMB 8,113,674.92 (December 31, 2025: RMB 7,256,353.12) were restricted in ownership or
                right of use as deposits for foreign exchange locking services; and other monetary funds with a
                book value of RMB 20,888,955.35 (December 31, 2025: RMB 11,979,219.00) were restricted in
                ownership or right of use due to restrictions on Yiwu Pay platform.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     [Note 4] As of June 30, 2026, stocks with a book value of RMB 474,851,137.20 (December
a lock-up period;
     [Note 5] As of June 30, 2026, long-term equity investments with a book value of RMB
assets valued at RMB 664,361,085.31 (December 31, 2025: RMB 664,361,085.31) were frozen
by the Second Intermediate People’s Court of Shanghai, as detailed in Note VII.17;
     [Note 6] As of June 30, 2026, the reserve funds for payment business with a book value of
RMB 656,792,051.04 (December 31, 2025: RMB 928,684,511.79) represent dedicated bank
deposit accounts opened by the Company in accordance with the Administrative Measures for
Payment Services of Non-Financial Institutions and the Measures for the Custody of Customer
Reserve Funds of Payment Institutions. The scope of funds stored and received by the
Company through the customer reserve account includes funds received from bank card
acquiring business, third-party payment convenience service business, credit card repayment
business, credit payment settlement business, and other parts of the Company's business.
(1) Classification of short-term loans
□Applicable √Not applicable
(2) Overdue short-term borrowings
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
□Applicable √Not applicable
□Applicable √Not applicable
(1) Presentation of accounts payable
√Applicable □Not applicable
                                                                                         Unit: RMB
                    Item                                  Closing balance        Opening balance
Accounts payable for market and auxiliary
works projects
Accounts payable for logistics park projects                 108,618,655.77          118,872,831.16
Accounts payable for procurement for the
hotel project
Trade payables                                                98,365,569.62           75,246,687.31
Other                                                        129,078,411.66          114,892,877.01
                   Total                                   1,936,920,569.75        1,995,926,945.56
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Important accounts payable with an aging of over 1 year or overdue
□Applicable √Not applicable
Other notes:
√Applicable □Not applicable
    The accounts payable are free of interest and are generally paid within two months after
receipt of the payment notice or based on the project contracts and progress of projects. The
balance payments for the projects are made after completion of settlement.
(1) Presentation of advance receipts
√Applicable □Not applicable
                                                                                          Unit: RMB
                     Item                              Closing balance            Opening balance
Rental advances                                            191,048,432.00            229,642,233.61
Advance receipt of merchant payment                          2,377,300.00              2,542,249.00
Other                                                        6,853,731.49              5,845,940.81
                   Total                                   200,279,463.49            238,030,423.42
(2) Significant advance payment with more than one year of account age
□Applicable √Not applicable
(3) The amount and reasons for significant changes in book value during the reporting
    period
□Applicable √Not applicable
Other notes:
√Applicable □Not applicable
    Due to advance payments primarily coming from advance rents and prepaid merchant
payments, with individual amounts being relatively small, there were no individual large
advance payments with aging exceeding one year as of June 30, 2026.
(1) Contract liabilities
√Applicable □Not applicable
                                                                                           Unit: RMB
                       Item                                Closing balance         Opening balance
Advances from customers for use fee of shops               4,059,552,383.46         4,876,306,790.46
Advances from customers for goods                          2,496,591,605.21         1,634,315,793.28
Advances from customers for housing purchase                 541,762,288.09           379,334,514.66
Advance receipts for digital platform usage fees             241,971,797.42           346,041,815.21
Advances from customers for advertising fee                   29,045,809.57            39,531,528.81
Advances from customers for use fee of
networking cables
Other                                                        173,530,640.70           162,369,255.04
                       Total                               7,564,884,552.80         7,463,213,194.29
(2) Significant contractual liabilities with an aging of over 1 year
□Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           (3) The amount and reasons for significant changes in book value during the reporting
               period
           □Applicable √Not applicable
           Other notes:
           √Applicable □Not applicable
               Collections on pre-sold properties
                                                                                                           Unit: RMB
                                                      Closing balance
                                                                                                         Presale ratio
                           Item                        of the current           Opening balance
                                                                                                             (%)
                                                           period
        Yiwu Global Digital Trade Center Sales
        Project
        Sub-total                                       541,762,288.09               379,334,514.66                      /
           (1) Employee compensation payable
           √Applicable □Not applicable
                                                                                                             Unit: RMB
                                                                                       Decrease in
                                             Opening           Increase in the                              Closing
                        Item                                                           the current
                                             balance            current period                              balance
                                                                                         period
           I. Short-term
           compensation
           II. Post employment
           benefits – defined                 159,842.93        34,841,820.77         35,001,663.70                      -
           contribution plan
           III. Severance benefits                     -         1,788,429.84           1,788,429.84                  -
                       Total              305,567,789.70       255,348,657.73         356,253,889.64     204,662,557.79
           (2) List of short-term compensation
           √Applicable □Not applicable
                                                                                                             Unit: RMB
                                             Opening           Increase in the         Decrease in the
                 Item                                                                                       Closing balance
                                             balance            current period          current period
subsidy
In which: contribution to medical
insurance scheme
        Contribution to work-related
injury insurance scheme
        Contribution to maternity
                                                          -              32,575.47             32,575.47                      -
insurance scheme
and employee education fund
                 Total                     305,407,946.77        218,718,407.12           319,463,796.10        204,662,557.79
           (3) List of defined contribution plans
           √Applicable □Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                                           Unit: RMB
                                                                     Decrease in
                                Opening          Increase in the                           Closing
          Item                                                       the current
                                balance           current period                           balance
                                                                       period
basic endowment                  154,999.20       24,824,767.61     24,979,766.81                    -
insurance scheme
unemployment insurance             4,843.73          793,553.16        798,396.89                    -
scheme
                                            -      9,223,500.00      9,223,500.00                    -
payment
           Total                 159,842.93       34,841,820.77     35,001,663.70                    -
Other notes:
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                        Unit: RMB
            Item                         Closing balance                    Opening balance
VAT                                               6,958,724.00                     173,928,580.31
Corporate income tax                            401,144,350.04                     381,644,638.87
Individual income tax                             5,681,740.59                       2,336,085.66
Urban maintenance and
construction tax
Real estate tax                                     56,579,962.72                    113,645,002.11
Land use tax                                        33,324,369.40                     63,494,166.67
Land appreciation tax                               89,516,568.68                        631,065.89
Other                                                8,163,442.39                     12,071,789.53
              Total                                609,346,619.53                    760,523,819.93
Other notes:
None
(1) Presentation of items
√Applicable □Not applicable
                                                                                        Unit: RMB
             Item                           Closing balance                  Opening balance
Dividend payable                                1,546,587,346.00                                 -
Other payables                                    978,821,593.65                 1,013,981,521.93
Total                                           2,525,408,939.65                 1,013,981,521.93
(2) Interest payable
□Applicable √Not applicable
(3) Dividend payable
√Applicable □Not applicable
                                                                                    Unit: RMB
             Item                      Closing balance                Opening balance
Common stock dividends                       1,546,587,346.00                               -
            Total                            1,546,587,346.00                               -
Other explanations, for important dividends payable that have not been paid for more than one
year, include disclosure of the reasons for non-payment:
None
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(4) Other payables
Presentation of other payables by nature
√Applicable □Not applicable
                                                                                         Unit: RMB
                 Item                             Closing balance               Opening balance
Withholdings, deposit and margin                        611,513,215.73              543,736,334.35
Operating expenses payable                              191,010,297.57              263,984,961.91
Pending investment refunds                              159,527,921.86              182,827,484.57
Other                                                    16,770,158.49               23,432,741.10
                 Total                                  978,821,593.65            1,013,981,521.93
Significant other payables with an aging of over 1 year or overdue
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                         Unit: RMB
                      Item                               Closing balance         Opening balance
Long-term borrowings due within one year                     30,872,179.10           67,669,588.00
Bonds payable due within one year                            25,358,904.11           28,805,561.65
Lease liabilities due within 1 year                          22,312,425.11           24,512,874.35
                      Total                                  78,543,508.32          120,988,024.00
Other notes:
None
√Applicable □Not applicable
                                                                                         Unit: RMB
                      Item                                Closing balance        Opening balance
Payment business transactions                              684,276,002.12           953,993,548.58
Tax for items to be charged off                            277,120,423.31           184,267,095.06
Dividend payable to to-be-recognized accounts                 5,881,354.90            4,314,386.90
Dividend announced but not collected before
listing
                      Total                                969,360,892.98          1,144,658,143.19
Changes in short-term bonds payable:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(1) Classification of Long-term loans
√Applicable □Not applicable
                                                                                        Unit: RMB
                    Item                           Closing balance              Opening balance
Credit loans                                          315,047,222.65               523,894,006.38
Long-term borrowings due within one year              -30,872,179.10               -67,669,588.00
                     Total                            284,175,043.55               456,224,418.38
Notes on the classification of long-term borrowings:
    None
Other notes
√Applicable □Not applicable
    As of June 30, 2026, the annual interest rate for the above loans was 2.1%-2.4%
(December 31, 2025: 2.1%-2.7%).
(1)    Bonds payable
√Applicable □Not applicable
                                                                                         Unit: RMB
                  Item                               Closing balance            Opening balance
Bonds payable                                            2,824,581,692.77         2,827,850,288.14
Bonds payable due within one year                          -25,358,904.11           -28,805,561.65
                 Total                                   2,799,222,788.66         2,799,044,726.49
                                                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
      (2) Specific situation of payable bonds: (excluding preferred stocks, perpetual bonds, and other financial instruments classified as
          financial liabilities)
      √Applicable □Not applicable
                                                                                                                                 Unit: RMB
                                                                                                                Amount
                                                                                                                                                                        Whet
                                                                                                Premium/di transferred to
           Face     Coupo                                                            Interest                                                                           her it
Name of                                     Bond                     Opening                      scount      bonds due
           value     n rate      Issue date      Amount issued                     accrued at                               Closing balance                             was
 bond                                       term                     balance                    amortizatio    within one
          (RMB)       (%)                                                          face value.                                                                          over
                                                                                                    n         year during
                                                                                                                                                                         due
                                                                                                              this period
MTN          100.00      2.10    Mar 27, 2025    3 years     500,000,000.00       499,890,397.63      2,732,876.71       23,637.28    2,732,876.71    499,914,034.91       No
MTN          100.00      2.09    Apr 24, 2025    3 years   1,000,000,000.00       999,775,244.53      3,836,438.36       46,912.79    3,836,438.36    999,822,157.32       No
MTN          100.00      1.89     Jul 17, 2025   3 years     500,000,000.00       499,876,538.80      9,009,863.01       23,548.95    9,009,863.01    499,900,087.75       No
Corporate
bonds
  Total        /         /            /             /      2,800,000,000.00     2,799,044,726.49     25,358,904.11      178,062.17   25,358,904.11   2,799,222,788.66        /
        (3) Description of convertible corporate bonds
        □Applicable √Not applicable
        Accounting treatment and judgment basis for equity conversion
        □Applicable √Not applicable
        (4)    Explanation of other financial instruments classified as financial liabilities
        Basic information of other financial instruments such as preferred shares and perpetual bonds outstanding at the end of the reporting period
        □Applicable √Not applicable
        Changes in other financial instruments such as preferred shares and perpetual bonds outstanding at the end of the reporting period
        □Applicable √Not applicable
        Explanation of the basis for classifying other financial instruments as financial liabilities
        □Applicable √Not applicable
        Other notes:
        □Applicable √Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                       Unit: RMB
                Item                      Closing balance                Opening balance
Undiscounted amount of finance
lease payables
Unrecognized financing charges                    -72,533,095.91                  -77,200,258.02
Lease liabilities due within 1 year               -22,312,425.11                  -24,512,874.35
                Total                             123,826,782.28                 129,609,121.91
Other notes:
     Note: The Group uses the incremental borrowing rate of 2.81%-7.48% as the discount rate
to calculate book value to determine the lease liability and measure right-of-use assets.
Presentation of items
□Applicable √Not applicable
Long-term payables
□Applicable √Not applicable
Special accounts payable
□Applicable √Not applicable
□Applicable √Not applicable
□Applicable √Not applicable
Overview of deferred income
√Applicable □Not applicable
                                                                                              Unit: RMB
                                                 Decrease in
                                Opening                               Closing               Cause of
          Item                                   the current
                                balance                               balance               formation
                                                   period
Asset-related                                                                        Commencement
government grants                                                                    rewards, etc.
          Total             116,223,417.33      2,042,066.84     114,181,350.49             /
Other notes:
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                         Unit: RMB
                Item                        Closing balance                   Opening balance
Contract liabilities                             3,411,651,616.22                 4,703,511,721.48
               Total                             3,411,651,616.22                 4,703,511,721.48
Other notes:
None
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                             Unit: RMB
                                         Increase or decrease in the current
                                                     period (+, -)
                 Opening balance          New                                         Closing balance
                                                       Bonus
                                         shares                     Sub-total
                                                       shares
                                         issued
   Total
 number of       5,483,559,226.00                  -              -               -   5,483,559,226.00
  shares
Other notes:
None
(1) Basic information of other financial instruments such as preferred shares and
    perpetual bonds outstanding at the end of the reporting period
□Applicable √Not applicable
(2) Changes in other financial instruments such as preferred shares and perpetual
    bonds outstanding at the end of the reporting period
□Applicable √Not applicable
Changes in other equity instruments in the current period, the reasons therefor and the basis for
relevant accounting treatment:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                             Unit: RMB
                                                                       Decrease
                                                       Increase in
                                                                         in the
           Item                  Opening balance       the current                    Closing balance
                                                                        current
                                                         period
                                                                        period
Capital surplus (share
premium)
Other                           749,836,046.81              -             -   749,836,046.81
          Total              2,407,539,312.32               -             - 2,407,539,312.32
Other notes including those on the changes in the current period and the reasons therefor:
None
□Applicable √Not applicable
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            √Applicable □Not applicable
                                                                                                            Unit: RMB
                                                            Amount in the current period
                                                Amount before                         Amount after
                                Opening                                                                         Closing
           Item                                 tax incurred in    Less: income     tax attributable
                                balance                                                                         balance
                                                  the current            tax            to parent
                                                     period                            company
I. Other comprehensive
income that cannot be
reclassified into profit or
loss
    Change in fair value
of other equity               80,532,480.19     -92,816,230.12        -23,204,057.53    -69,612,172.59       10,920,307.60
instruments investment
II. Other comprehensive
income to be
reclassified into profit or
loss
Other comprehensive
income that can be
transferred into profit        4,712,587.90                     -                   -                   -     4,712,587.90
and loss under equity
method
    Difference arising
from the translation of
foreign currency
financial statements
Total other
comprehensive income
            Other notes, including those on the adjustment of the initially recognized amount of hedged
            items converted from the effective part of gains or losses from cash flow hedging:
            None
            □Applicable √Not applicable
            √Applicable □Not applicable
                                                                                                       Unit: RMB
                  Item          Opening balance       Increase in the      Decrease in the      Closing balance
                                                       current period       current period
            Statutory
            surplus reserve
            Discretionary
            surplus reserve
            Other                11,688,840.91                   -                  -     11,688,840.91
                  Total       2,469,640,355.95                   -                  - 2,469,640,355.95
            Notes on surplus reserves, including those on the changes in the current period and the
            reasons therefor:
            None
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                           Unit: RMB
                        Item                             Current period         The previous year
Undistributed profits at the end of the previous
reporting period before adjustment
Opening undistributed profits after adjustment           12,486,681,371.95      10,400,490,449.73
Plus: net profits attributable to shareholders of
the parent company in the current period
Less: withdrawal of statutory surplus reserve                               -      307,838,089.86
     General risk reserve                                                   -             -80,661.29
     Common share dividend payable                        2,741,779,613.00       1,809,598,596.18
Closing undistributed profits                            11,724,101,969.10      12,486,681,371.95
Details of the adjustment of opening undistributed profits:
regulations, the affected undistributed profit at the beginning of the period was 0.
period was 0.
beginning of the period was 0.
undistributed profit at the beginning of the period was 0.
(1) Overview of operating revenue and operating cost
√Applicable □Not applicable
                                                                                           Unit: RMB
                       Amount in the current period                 Amount in the previous period
      Item
                       Revenue           Cost of sales              Revenue           Cost of sales
Main
business
Other
businesses
    Total         10,281,542,979.96       7,295,331,445.25      7,712,799,130.26      5,279,388,914.07
(2) Breakdown information of operating revenue and operating costs
√Applicable □Not applicable
                                                                                        Unit: RMB
                                                                            Total
             Classified by type of contract
                                                            Operating revenue     Operating cost
Types of goods
     Sales of goods                                           5,450,835,193.97        5,405,557,636.91
     The use of shops in the China Commodities
City markets and the supporting services for                  2,366,902,169.43          545,020,647.38
operation
     Lease                                                      328,956,171.41          187,601,413.69
     Hotel accommodation and catering services                  164,757,344.73          159,012,528.22
     Sales of supporting real estate                          1,564,789,992.93          844,120,854.11
Classified by business area
     Chinese Mainland                                       10,192,267,648.55         7,224,661,888.64
     Overseas                                                   89,275,331.41            70,669,556.61
Classification by time of good transfer
                              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                     Recognizing revenue at a certain point in
              time
                   Recognizing revenue during a certain period
              of time
                                   Total                                      10,281,542,979.96       7,295,331,445.25
              Other notes
              □Applicable      √Not applicable
              (3) Contract performance obligations
              √Applicable □Not applicable
                                                                                                                Unit: RMB
                                                                                                                  The types of
                                                                                    Whether
                                                                Nature of the                   The expected         quality
                           Time for                                                    the
                                                               goods that the                    refunds to        assurance
                           fulfilling    Important payment                         Company
       Item                                                      Company                         customers        provided by
                         performance           terms                              is the main
                                                                promises to                     borne by the     the Company
                          obligations                                              responsibl
                                                                  transfer                       Company          and related
                                                                                    e person
                                                                                                                   obligations
                                        Advance payment
                        When
                                        or right to receive    Trade retail
Sales of goods          delivering                                                   Yes                    -   No
                                        payment after          goods
                        goods
                                        delivery of goods
The use of shops
in the China
                                        Part of the deposit    Shop use right
Commodities City        When
                                        will be collected in   / supporting
markets and the         providing                                                    Yes                    -   No
                                        advance, and the       services for
supporting              services
                                        remaining amount       operation
services for
                                        will be collected
operation
                                        upon completion of
Hotel                   When                                   Hotel
                                        the performance
accommodation           providing                              accommodatio          Yes                    -   No
business                services                               n service
                        When            Collection upon
Hotel catering                                                 Catering
                        providing       completion of                                Yes                    -   No
business                                                       services
                        services        performance
                                        Advance receipts or
                                        the right to receive
                        When
                                        payment upon           Real estate
Real estate sales       delivering                                                   Yes                    -   No
                                        acquisition of         projects
                        goods
                                        control over the
                                        relevant real estate
      Total                    /                   /                  /                /                    -          /
              (4) Explanation of allocation to remaining contract performance obligations
              □Applicable √Not applicable
              (5) Significant contract changes or significant transaction price adjustments
              □Applicable √Not applicable
              Other notes:
                  The revenue recognized during the current period that was included in the opening carrying
              amount of contract liabilities amounted to RMB 4,520,971,401.50.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                        Unit: RMB
            Item                 Amount in the current period        Amount in the previous period
Urban maintenance and
construction tax
Education surcharge                                3,836,048.48                         1,230,437.44
Real estate tax                                   91,295,638.85                        66,364,417.31
Land use tax                                      32,143,207.72                        13,807,737.48
Vehicle and vessel use tax                             1,200.00                             1,680.00
Stamp duty                                         6,178,349.50                         4,385,285.48
Land appreciation tax                            102,630,428.09                           343,806.24
Local education surcharge                          2,557,365.67                           820,291.60
Cultural undertaking
development fee
Water Resource Tax                                     3,295.23                                    -
            Total                                248,329,205.65                        90,271,292.43
Other notes:
None
√Applicable □Not applicable
                                                                                          Unit: RMB
                                               Amount in the current         Amount in the previous
                  Item
                                                     period                         period
Marketing expenses                                      88,216,498.95                70,012,778.47
Advertising expenses                                     9,168,068.77                13,816,076.76
Security and insurance expenses                         19,485,019.72                12,322,842.69
Water, electricity and fuel expenses                     4,640,730.32                 4,793,494.29
Depreciation and amortization                            1,891,364.17                    705,001.90
Other                                                    5,554,089.13                 3,291,607.43
                   Total                              128,955,771.06               104,941,801.54
Other notes:
None
                Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                   Amount in the current        Amount in the previous
                      Item
                                                         period                        period
Employee and uniform expenses                            157,043,549.26               131,826,414.59
Depreciation and amortization                              34,121,731.37                42,696,628.31
Office expenses                                             9,551,326.35                 8,319,489.00
Intermediary expenses                                       7,183,777.81                 7,637,615.39
Travel expenses                                             1,999,631.11                 3,798,997.56
Start-up fee                                                             -                   17,957.01
Other                                                       2,719,838.40                 1,912,996.81
                 Total                                   212,619,854.30               196,210,098.67
Other notes:
None
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                   Amount in the current        Amount in the previous
                      Item
                                                         period                        period
Labor cost                                                 22,411,752.19                 8,533,039.14
Technology development fee                                  4,999,037.18                 1,243,375.70
Depreciation and amortization                                   40,348.58                    31,519.88
Other                                                       1,057,684.13                     76,756.03
                 Total                                     28,508,822.08                 9,884,690.75
Other notes:
None
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                   Amount in the current        Amount in the previous
                      Item
                                                         period                        period
Interest expenses                                          37,015,545.13                89,599,320.22
Amortization of discount on short-term
commercial papers
Less: interest income                                         40,786,828.04               38,102,947.69
Less: capitalized amount of interest                           7,027,814.10               38,634,581.13
Foreign exchange gains or losses                               4,323,471.48                  941,669.16
Amortization of unrecognized financing expenses                   24,192.37                   -2,720.35
Other                                                          6,146,688.81                1,760,607.45
                      Total                                     -126,682.18               17,153,173.76
Other notes:
None
√Applicable □Not applicable
                                                                                             Unit: RMB
                                                  Amount in the current       Amount in the previous
            Classified by nature
                                                        period                       period
Government subsidies related to income                   11,191,521.67                 2,565,819.95
Asset-related government grants                            2,042,066.84                2,042,066.84
Refund of withheld handling fee of
personal income tax
                 Total                                       13,566,525.44              5,161,514.77
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Other notes:
None
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                              Amount in the           Amount in the
                         Item
                                                              current period         previous period
Income from long-term equity investment
calculated with the equity method
Interest income from debt investment during
holding period
Investment income from disposal of
held-for-trading financial assets
Income acquired from other non-current financial
assets during the holding period
                        Total                                  126,780,380.20          122,900,781.16
Other notes:
None
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                           Unit: RMB
Sources of income from changes              Amount in the current           Amount in the previous
            in fair value                         period                           period
Other non-current financial assets                                 -                     -251,495.99
Held-for-trading financial assets                     166,568,782.58                                -
                Total                                 166,568,782.58                     -251,495.99
Other notes:
None
√Applicable □Not applicable
                                                                                             Unit: RMB
                                              Amount in the current            Amount in the previous
                  Item
                                                    period                            period
Bad debt loss of accounts receivable                   -1,781,222.53                        -10,101.46
Loss for bad debts of other
receivables
                Total                                      -1,723,922.47                       27,423.78
Other notes:
None
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                                                 Amount recognized
                                                                                  in profit or loss of
                                     Amount in the          Amount in the
             Item                                                                non-recurring items
                                     current period        previous period
                                                                                    for the current
                                                                                         period
Total gains from the disposal
of non-current assets
Including: gain on disposal of
fixed assets.
Incomes from liquidated
damages
Other                                    1,357,862.34          1,505,144.13                1,357,862.34
             Total                       8,440,683.68          4,989,777.15                8,440,683.68
Other notes:
□Applicable √Not applicable
√Applicable □Not applicable
                                                                                            Unit: RMB
                                                                                 Amount recognized
                                                                                  in profit or loss of
                                      Amount in the         Amount in the
              Item                                                               non-recurring items
                                      current period       previous period
                                                                                    for the current
                                                                                         period
Total loss for disposal of
non-current assets
Including: loss for disposal of
property, plant and equipment
Other
             Total
Other notes:
None
(1) Table of income tax expenses
√Applicable □Not applicable
                                                                                    Unit: RMB
             Item                   Amount in the current period Amount in the previous period
Current income tax expenses                      652,070,200.65                439,948,859.51
Deferred income tax expenses                      39,709,012.77                 10,720,725.20
             Total                               691,779,213.42                450,669,584.71
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Adjustment process of accounting profits and income tax expenses
√Applicable □Not applicable
                                                                                            Unit: RMB
                                      Item                                           Amount in the
                                                                                     current period
Profits before tax                                                                  2,677,668,054.28
Income tax expenses calculated at the statutory/applicable tax rate                   669,417,013.57
Impact of different tax rates applied by subsidiaries                                 -10,875,761.57
Effect of adjusting income tax of previous period                                        8,063,350.82
Effect of non-taxable income                                                          -29,752,288.84
Effect of non-deductible costs, expenses and losses                                        956,445.95
Effect of using deductible losses of unrecognized deferred income tax
                                                                                        -2,304,869.32
assets in previous period
Effect of deductible temporary differences or deductible losses of
unrecognized deferred income tax assets in the current period
Income tax expense                                                                    691,779,213.42
Other notes:
□Applicable √Not applicable
√Applicable □Not applicable
For details, please refer to Note 57. Other comprehensive income
(1) Cash related to operating activities
Other cash receipts relating to operating activities
√Applicable □Not applicable
                                                                                           Unit: RMB
                                                            Amount in the           Amount in the
                          Item
                                                            current period         previous period
Deposit and margin received                                  140,320,422.24           100,093,000.00
Government grants received                                     21,004,458.60            1,938,543.60
Bank deposit interest income received                           4,996,240.19           12,165,222.06
Liquidated damages received                                     4,385,216.73                        -
Bank reserve received                                           2,376,349.43            4,633,558.46
Restricted monetary funds at the beginning of the
period recovered during the current period
Global Digital Trade Center rental intention deposit
                                                                          -           136,200,000.00
received pending return
Other                                                          8,553,906.03             2,157,534.06
                        Total                               182,095,429.44            257,187,858.18
Notes on other cash receipts relating to operating activities:
None
Other cash payments relating to operating activities
√Applicable □Not applicable
                                                                                           Unit: RMB
                                                            Amount in the           Amount in the
                          Item
                                                            current period         previous period
Major expenses paid                                          241,431,971.67           180,925,813.87
Deposit and security paid                                    109,911,784.74           118,137,600.65
Repair costs and expenses paid                                 14,359,382.76           13,940,877.55
Payment on behalf of others, or advance payment paid            9,442,394.50           10,943,015.18
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Other                                                       3,543,839.98                1,005,926.04
                      Total                              378,689,373.65               324,953,233.29
Notes on other cash payments relating to operating activities:
None
(2) Cash related to investment activities
Cash received related to important investment activities
√Applicable □Not applicable
                                                                                          Unit: RMB
               Item                        Amount in the current           Amount in the previous
                                                 period                           period
Recovery of trading financial
asset investments
Recovery of other non-current
financial asset investments
Recovery of long-term equity
investments
                Total                          3,100,017,380.10                       419,023,048.91
Description of cash received related to important investment activities
None
Cash paid related to important investment activities
√Applicable □Not applicable
                                                                                          Unit: RMB
               Item                        Amount in the current           Amount in the previous
                                                 period                           period
Purchase of trading financial
assets
Payment for debt investment                                       -                     48,000,000.00
Payment for other non-current
                                                                  -                     40,000,000.00
financial asset investments
                Total                           1,400,000,000.00                        88,000,000.00
Description of cash paid related to important investment activities
None
Other cash receipts relating to investing activities
√Applicable □Not applicable
                                                                                          Unit: RMB
                Item                   Amount in the current period        Amount in the previous
                                                                                  period
Recovered pending investment
refunds
Recovery of time deposits and
accrued interest
               Total                              1,532,605,640.79                          5,562,422.74
Notes on other cash receipts relating to investing activities:
None
Other cash payments relating to investing activities
√Applicable □Not applicable
                                                                                          Unit: RMB
                Item                   Amount in the current period        Amount in the previous
                                                                                  period
Purchase of time deposits                              100,000,000.00                              -
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             Payments paid for investment
             returns pending confirmation
                           Total                                    148,165,000.00                   17,036,269.50
             Other cash paid related to investment activities:
             None
             (3) Cash related to financing activities
             Other cash receipts relating to financing activities
             □Applicable √Not applicable
             Other cash payments relating to financing activities
             √Applicable □Not applicable
                                                                                                        Unit: RMB
                             Item                   Amount in the current period         Amount in the previous
                                                                                                period
             Lease payments paid                                       10,424,111.08                11,290,804.49
             Payments paid for intermediary
             fees related to listing on the Hong                       18,297,931.17                                 -
             Kong Stock Exchange.
                             Total                                     28,722,042.25                 11,290,804.49
             Other cash paid related to financing activities:
             None
             Changes in liabilities arising from financing activities
             √Applicable □Not applicable
                                                                                                         Unit: RMB
                                                                  Increase in the      Decrease in the
                                                                   current period       current period
                 Item                      Opening balance                                                Closing balance
                                                                 Non-cash              Cash changes
                                                                 changes
Long-term borrowings (including
long-term borrowings due within one          523,894,006.38          4,591,422.49      213,438,206.22       315,047,222.65
year)
Bonds payable (including bonds
payable due within one year)
Lease liabilities (including lease
liabilities due within one year)
                    Total                  3,505,866,290.78         37,389,989.23      257,488,157.20     3,285,768,122.81
              (4) Description of cash flows reported on a net basis
              √Applicable □Not applicable
       Item          Relevant factual    Basis for presentation on a net basis                    Financial impact
                       information
                                      Cash flows related to the purchase of time
                                                                                          If reported on a gross basis, it
                                      deposits in the current period, which are
                                                                                          will have the following impact
                    The     Company characterized by quick turnover, large
                                                                                          on the Company's cash flow
Cash        flows presents       cash amounts, and short durations, better
                                                                                          statement: an increase of
related to the flows related to illustrate their impact on the Company's
                                                                                          RMB 1,243,000,000.00 in
purchase of time the purchase of payment and debt repayment abilities
                                                                                          cash received from other
deposits            time deposits on when reported on a net basis, aiding in the
                                                                                          investment-related activities
                    a net basis       evaluation of the Company’s payment
                                                                                          and cash paid for other
                                      capacity, debt repayment capability, and
                                                                                          investment-related activities.
                                      analysis of future cash flows.
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(5) Significant activities and financial impacts that do not involve current cash inflows
    and outflows but affect the financial condition of the enterprise or may affect the
    cash flow of the enterprise in the future
□Applicable √Not applicable
(1) Supplementary information to the statement of cash flows
√Applicable □Not applicable
                                                                                   Unit: RMB
                                                           Amount in the     Amount in the
              Supplementary information
                                                           current period   previous period
Net profits                                               1,985,888,840.86 1,697,064,179.57
Plus: provision for impairment of assets                                  -                 -
Credit impairment loss                                        1,723,922.47        -27,423.78
Depreciation of fixed assets, depletion of oil and gas
assets and depreciation of bearer biological assets
Amortization of right-of-use assets                          12,389,261.30    21,879,705.60
Amortization of intangible assets                           138,064,347.41   136,817,308.55
Depreciation and amortization of investment real
estate
Amortization of long-term prepaid expenses                   89,053,197.21    70,138,744.80
Loss from fixed assets retirement (gains indicated by
“-”)
Loss from changes in fair value (gains indicated by “-”)   -166,568,782.58       251,495.99
Financial expenses (gains indicated by “-”)                    -126,682.18    17,153,173.76
Investment loss (gains indicated by “-”)                   -126,780,380.20  -122,900,781.16
Decrease in deferred income tax assets (increase
                                                            -21,682,631.09   -30,660,092.53
indicated by “-”)
Increase in deferred income tax liabilities (decrease
indicated by “-”)
Decrease in inventory (increase indicated by “-”)           976,585,989.14   -49,536,463.42
Decrease in operating receivables (increase indicated
                                                         -1,862,106,363.19  -849,399,992.69
by “-”)
Increase in operating payables (decrease indicated by
                                                         -1,608,074,742.71   197,489,477.98
“-”)
Net cash flow from operating activities                    -128,795,077.94 1,382,854,487.47
Closing balance of cash                                   2,393,354,291.83 4,678,642,307.94
Less: opening balance of cash                             4,284,849,911.50 5,528,368,665.98
Add: closing balance of cash equivalents                                  -                 -
Less: opening balance of cash equivalents                                 -                 -
Net increase in cash and cash equivalents                -1,891,495,619.67  -849,726,358.04
(2) Net cash paid for acquisition of subsidiaries in this period
□Applicable √Not applicable
(3) Net cash from disposal of subsidiaries in this period
□Applicable √Not applicable
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(4) Composition of cash and cash equivalents
√Applicable □Not applicable
                                                                                         Unit: RMB
                        Item                                Closing balance        Opening balance
I. Cash                                                     2,393,354,291.83       4,284,849,911.50
In which: cash on hand                                             71,514.22             116,170.82
        Bank deposit that can be used for payment at
any time
        Other monetary funds that can be used for
payment at any time
II. Cash equivalents
Including: bond investments due within three months
III. Closing balance of cash and cash equivalents           2,393,354,291.83       4,284,849,911.50
Including:cash and cash equivalents with restricted
use by the parent company or its subsidiaries
(5) Situations where the scope of use is limited but still listed as cash and cash
    equivalents
□Applicable √Not applicable
(6) Monetary funds that do not belong to cash and cash equivalents
√Applicable □Not applicable
                                                                                            Unit: RMB
             Item                    Closing balance        Opening balance                Reason
Time Deposits and Transferable
Large-denomination Certificates       931,113,094.35          2,505,561,014.60
of Deposit                                                                          Not available for
Various business deposits               14,140,235.68            13,586,458.90      withdrawal at
Restricted Funds of Yiwu Pay                                                        any time
Platform
Funds frozen judicially                            -                 12,613.00
             Total                    966,142,285.38          2,531,139,305.50                 /
Other notes:
□Applicable √Not applicable
Names of “others” items whose closing balances in the previous year are adjusted and the
amounts of adjustments:
□Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(1) Foreign currency monetary items
√Applicable □Not applicable
                                                                                      Unit: RMB Yuan
                                                                                  Renminbi-equivalent
                                  Closing balance in
              Item                                          Exchange rate          balance at period
                                   foreign currency
                                                                                          end
Monetary funds
In which: USD                           9,878,749.54                    6.8231           67,404,137.13
       EURO                             1,251,537.26                    7.7630            9,715,735.08
       Rwandan Franc                   25,410,591.00                    0.0046              116,888.72
       Dirham                              34,714.00                    1.8511               64,259.09
       Koruna                           2,282,896.44                    0.3188              727,787.38
       Hong Kong Dollar                14,017,042.25                    0.8961           12,560,008.95
Accounts receivable
In which: USD                           1,272,782.67                    6.8231               8,684,323.44
       Koruna                          20,877,932.53                    0.3188               6,655,884.89
Other receivables
In which: USD                              69,070.80                    6.8231              471,276.98
       EURO                               191,943.14                    7.7630            1,490,054.60
       Koruna                          45,394,208.13                    0.3188           14,471,673.55
       Hong Kong Dollar                   124,884.50                    0.8961              111,909.00
Accounts payable
In which: USD                            6,990,241.55                   6.8231           47,695,117.12
Other payables
In which: USD                              75,680.51                    6.8231                 516,375.69
       EURO                               148,474.77                    7.7630               1,152,609.64
       Koruna                          26,648,852.61                    0.3188               8,495,654.21
Other notes:
None
(2) The nature and financial impacts of the lack of exchangeability, the spot exchange
rate adopted and its estimation process, as well as the risks faced by the enterprise
arising from the lack of exchangeability
□Applicable √Not applicable
(3) Description of overseas operating entities, for important overseas operating entities,
includes the disclosure of principal overseas place of business, functional currency and
the basis for selection, and the reason for the change in functional currency.
□Applicable √Not applicable
(4) Lack of exchangeability between the functional currency of a foreign operation and
the entity's presentation currency
□Applicable √Not applicable
(1) As a leasee
√Applicable □Not applicable
Variable lease payments not included in the measurement of lease liabilities
□Applicable √Not applicable
                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    Simplified short-term lease or low-value assets leasing expenses
    √Applicable □Not applicable
         Lease expense for short-term leases applying the simplified approach and recognized in
    profit or loss amounted to RMB 1,768,979.23.
         Lease expense for low-value assets applying the simplified approach and recognized in
    profit or loss amounted to RMB 997,033.53.
    Leaseback transactions and judgment basis
    □Applicable √Not applicable
    Total cash outflow related to leasing amounted to RMB 12,991,591.62
    (2) As a lessor
    Operating lease as lessor
    □Applicable √Not applicable
    Financing lease as lessor
    □Applicable √Not applicable
    Adjustment table for undiscounted lease receipts and net lease investments
    □Applicable √Not applicable
    Undiscounted lease receipts for the next five years
    □Applicable √Not applicable
    (3) Confirmed gains and losses of financing lease sales as a manufacturer or distributor
    □Applicable √Not applicable
    Other notes
         The leased assets of the Group include houses, buildings, land use rights, and other
    equipment used in the operating process. The lease term for houses and buildings is usually
         For right-of-use assets, see Note VII. 25; for lease liabilities, please refer to Note VII. 47.
    √Applicable □Not applicable
         Refer to Note VII.26 Intangible Assets.
    □Applicable    √Not applicable
VIII. R&D expenditure
      √Applicable □Not applicable
                                                                                               Unit: RMB
                       Item                          Amount in the current        Amount in the previous
                                                           period                        period
    Labor cost                                               32,582,434.32                16,869,003.84
    Technology development fee                               36,469,752.56                 3,885,895.45
    Depreciation and amortization                                932,895.83                   217,896.96
    Other                                                     1,516,378.25                     83,423.39
                     Total                                   71,501,460.96                21,056,219.64
    Among them: Expensed R&D
    expenditure
          Capitalized R&D expenditure                          42,992,638.88                11,171,528.89
    Other notes:
    None
                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         √Applicable □Not applicable
                                                                                                         Unit: RMB
                                               Increase in
                                               the current         Decrease in the current period
                                                 period
                              Opening                                                                        Closing
          Item                                                                          Transfer to
                              balance           Internal                                                     balance
                                                                 Recognized as         profit or loss
                                              development
                                                                intangible assets     for the current
                                              expenditure
                                                                                           period
Chinagoods       Platform
Development Project
Kuaijietong          Core
                                          -     173,794.16                        -                  -       173,794.16
Payment System
Yiwu Index Project            700,000.00         150,000.00                      -                   -       850,000.00
Exhibition Data Platform               -       1,528,301.88           1,528,301.88                   -                -
          Total             4,793,276.48      42,992,638.88           1,528,301.88                   -    46,257,613.48
         Important capitalized research and development projects
         □Applicable √Not applicable
         Provision for impairment of development expenditure
         □Applicable √Not applicable
         Other notes
         None
         □Applicable √Not applicable
     IX. Changes in the scope of consolidation
         □Applicable √Not applicable
         □Applicable √Not applicable
                                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
□Applicable √Not applicable
Whether there were any transactions or events that resulted in the loss of control over a subsidiary in this period
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Did the Group dispose of subsidiaries through multiple transactions and lose control in the current period?
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Changes in the consolidation scope for other reasons (e.g. new establishment of subsidiaries, liquidation of subsidiaries, etc.) and the related
information:
√Applicable □Not applicable
               company name                    Equity acquisition method    Equity acquisition time Contribution amount Ratio of contribution
Yixin Digital Wealth Management Co., Ltd.  Newly established subsidiary    April 2026                                         -              100.00%
                                                                                                                                  Net profit from the
                                                                             Point of equity          Net assets on the
             company name                     Equity disposal mode                                                            beginning of the period to
                                                                                disposal             disposal date (RMB)
                                                                                                                             the date of disposal (RMB).
Ningxia Yiwu China Commodities City
                                             Cancellation                March 2026                           3,257,187.90                  -114,478.73
Supply Chain Management Co., Ltd.
√Applicable □Not applicable
     As of June 30, 2026, Zhejiang Xunchi Digital Technology Co., Ltd. had not yet made any capital contribution to Yixin Digital Wealth Management
Co., Ltd.
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
        X. Equity in other entities
            (1) Composition of the Group
            √Applicable □Not applicable
                                                                                                  Unit: RMB 10,000
                                                                                                  Shareholding        Acqui
                               Main place of     Registered          Place of                       ratio (%)         sition
    Name of subsidiary                                                             Business
                                business          capital          registration                                       meth
                                                                                                 Direct   Indirect
                                                                                                                        od
Yiwu China Commodities                                                                                               Estab
City Import and Export         Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang   Wholesale      100.00              lishm
Co., Ltd.                                                                                                            ent
Yiwu China Commodities                                                                                               Estab
City      Supply     Chain     Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang   Wholesale      100.00              lishm
Management Co., Ltd.                                                                                                 ent
Yiwu        Comprehensive                                                                                            Estab
                                                                                  Business
Bonded Zone Operation and      Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Management Co., Ltd.                                                                                                 ent
Yiwu China Commodities                                                                                               Estab
                                                                                  Business
City Overseas Investment       Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
and Development Co., Ltd.                                                                                            ent
Yiwu China Commodities                                                                                               Estab
                                                                                  Business
City Tourism Development       Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Co., Ltd.                                                                                                            ent
Yiwu China Commodities                                                                                               Estab
                                                                                  Business
City Assets Operation and      Yiwu, Zhejiang        1,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Management Co., Ltd.                                                                                                 ent
                                                                                                                     Estab
Zhejiang  Yindu      Hotel                                                        Business
                               Yiwu, Zhejiang        1,000.00    Yiwu, Zhejiang                  100.00              lishm
Management Co., Ltd.                                                              service
                                                                                                                     ent
                                                                                                                     Estab
Yiwu    Yandoo      Shangtu                                                       Business
                               Yiwu, Zhejiang          500.00    Yiwu, Zhejiang                           100.00     lishm
Catering Co., Ltd                                                                 service
                                                                                                                     ent
Yiwu China Commodities                                                                                               Estab
                                                                                  Business
City Research Institute Co.,   Yiwu, Zhejiang        1,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Ltd.                                                                                                                 ent
                                                                                  Software
                                                                                  and
                                                                                                                     Estab
Yiwu China Commodities                                                            Information
                               Yiwu, Zhejiang       10,000.00    Yiwu, Zhejiang                  100.00              lishm
City Big Data Co., Ltd.                                                           Technolog
                                                                                                                     ent
                                                                                  y Service
                                                                                  Industry
                                                                                  Profession
                                                                                                                     Estab
Yiwu Xinlian Technology                                                           al technical
                               Yiwu, Zhejiang        1,000.00    Yiwu, Zhejiang                            51.00     lishm
Service Co., Ltd.                                                                 service
                                                                                                                     ent
                                                                                  industry
Yiwu Shangcheng Gonglian                                                                                             Estab
                                                                                  Business
Enterprise     Management      Yiwu, Zhejiang       20,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Co., Ltd.                                                                                                            ent
Yiwu Shangbo Yuncang                                                                                                 Estab
                                                                                  Business
Enterprise     Management      Yiwu, Zhejiang       30,000.00    Yiwu, Zhejiang                  100.00              lishm
                                                                                  service
Co., Ltd.                                                                                                            ent
Yiwu China Commodities                                                                                               Estab
City Information Technology    Yiwu, Zhejiang        5,000.00    Yiwu, Zhejiang   IT             100.00              lishm
Co., Ltd.                                                                                                            ent
Yiwu China Commodities
City Equity Investment Co.,
                                                                                                                     Estab
Ltd. (formerly known as                                                           Financial
                               Yiwu, Zhejiang     400,000.00     Yiwu, Zhejiang                  100.00              lishm
Yiwu China Commodities                                                            industry
                                                                                                                     ent
City Financial Holding Co.,
Ltd.)
Yiwu China Commodities         Yiwu, Zhejiang       40,000.00    Yiwu, Zhejiang   Multimodal     100.00              Estab
                            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
City    Logistics     and                                                         transport                        lishm
Warehousing Co., Ltd.                                                             and                              ent
                                                                                  transportati
                                                                                  on agency
                                                                                                                   Estab
Yiwu China Commodities                                                            Business
                                Yiwu, Zhejiang        3,000.00   Yiwu, Zhejiang                   98.00     2.00   lishm
City Exhibition Co., Ltd.                                                         service
                                                                                                                   ent
                                                                                  Internet                         Estab
Yiwu    Yundailu        Data
                                Yiwu, Zhejiang       50,000.00   Yiwu, Zhejiang   and related    100.00            lishm
Technology Co., Ltd.
                                                                                  services                         ent
                                                                                                                   Incor
                                                                                                                   porati
Zhejiang Huajie Investment                                                        Business
                                Yiwu, Zhejiang       50,000.00   Yiwu, Zhejiang                   96.40            on+ac
and Development Co., Ltd.                                                         service
                                                                                                                   quisiti
                                                                                                                   on
                                                                                                                   Incor
                                                                                                                   porati
Europe Huajie Investment        Prague, Czech                    Prague, Czech    Business
                                                  CZK1,580.00                                              96.40   on+ac
and Development Co., Ltd.       Republic                         Republic         service
                                                                                                                   quisiti
                                                                                                                   on
Zhejiang            China
                                                                                                                   Estab
Commodities City Group                                                            Financial
                                Yiwu, Zhejiang       20,000.00   Yiwu, Zhejiang                   60.00    40.00   lishm
Commercial Factoring Co.,                                                         industry
                                                                                                                   ent
Ltd.
                                                                                                                   Estab
Zhejiang         Yiwugou
                                Yiwu, Zhejiang       10,000.00   Yiwu, Zhejiang   IT                       51.00   lishm
E-commerce Co., Ltd.
                                                                                                                   ent
                                                                                                                   Estab
Yiwu China Commodities
                                Yiwu, Zhejiang        1,000.00   Yiwu, Zhejiang   Advertising             100.00   lishm
City Advertising Co., Ltd.
                                                                                                                   ent
Yiwu China Commodities                                                                                             Estab
City Credit Investigation       Yiwu, Zhejiang        1,000.00   Yiwu, Zhejiang   Service                  85.00   lishm
Co., Ltd.                                                                                                          ent
                                                                                                                   Estab
Yiwu Aiximao Supply Chain
                                Yiwu, Zhejiang          500.00   Yiwu, Zhejiang   Service                 100.00   lishm
Management Co., Ltd.
                                                                                                                   ent
                                                                                                                   Incor
Yiwu China Commodities
                                                                                                                   porati
City   Internet  Financial                                                        Financial
                                Yiwu, Zhejiang        1,000.00   Yiwu, Zhejiang                           100.00   on+ac
Information Service Co.,                                                          industry
                                                                                                                   quisiti
Ltd.
                                                                                                                   on
Yiwu China Commodities
                                                                                                                   Estab
City RMB and Foreign                                                              Financial
                                Yiwu, Zhejiang        1,000.00   Yiwu, Zhejiang                           100.00   lishm
Currency Exchange Co.,                                                            industry
                                                                                                                   ent
Ltd.
                                                                                                                   Estab
Hangzhou          Shangbo       Hangzhou,                        Hangzhou,
Nanxing Property Co., Ltd.      Zhejiang                         Zhejiang
                                                                                                                   ent
Yiwu China Commodities                                                                                             Estab
                                Hong Kong,                       Hong     Kong,
City      (Hong       Kong)                          HKD 1.00                     Wholesale               100.00   lishm
                                China                            China
International Trade Co., Ltd.                                                                                      ent
                                                                                                                   Estab
Hong Kong Better Silk Road      Hong Kong,                       Hong     Kong,
                                                 HKD 10800.00                     Service                 100.00   lishm
Co., Ltd.                       China                            China
                                                                                                                   ent
Huafrica           (Kenya)                                                                                         Estab
Investment     Development      Nairobi, Kenya    KES 3000.00    Nairobi, Kenya   Service                 100.00   lishm
Co., Limited                                                                                                       ent
                                                                                                                   Estab
BETTER SILK ROAD FZE            Dubai, UAE        AED 5040.00    Dubai, UAE       Service                 100.00   lishm
                                                                                                                   ent
                                                                                                                   Estab
BETTER   SILK          ROAD
                                Kigali, Rwanda   RWF 27000.00    Kigali, Rwanda   Service                 100.00   lishm
RWANDA Ltd
                                                                                                                   ent
                                                                                                                   Estab
Yiwu Zheqing Trading Co.,
                                Yiwu, Zhejiang        2,200.00   Yiwu, Zhejiang   Wholesale               100.00   lishm
Ltd.
                                                                                                                   ent
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                             Tortola Island,                   Tortola Island,                                    Estab
Bright    Way       Tech                                                         Financial
                             British Virgin      USD 0.0005    British  Virgin                           100.00   lishm
Development Limited                                                              industry
                             Islands                           Islands                                            ent
                                                                                                                  Estab
Yiwu China Commodities       Frankfurt,                        Frankfurt,
                                                 EUR 100.00                      Service                 100.00   lishm
City (Germany) Co., Ltd.     Germany                           Germany
                                                                                                                  ent
                                                                                                                  Estab
Yiwu China Commodities
                             Madrid, Spain        EUR 20.00    Madrid, Spain     Service                 100.00   lishm
City (Spain) Co., Ltd.
                                                                                                                  ent
Zhejiang Xunchi Digital      Hangzhou,                         Hangzhou,                                          Acqui
Technology Co., Ltd.         Zhejiang                          Zhejiang                                           sition
Kuaijietong       Payment    Hangzhou,                         Hangzhou,                                          Acqui
Service Co., Ltd.            Zhejiang                          Zhejiang                                           sition
                                                                                                                  Incor
                                                                                                                  porati
Zhejiang Think Tank Co.,                                       Hangzhou,
                             Yiwu, Zhejiang        10,000.00                     Service        100.00            on+ac
Ltd.                                                           Zhejiang
                                                                                                                  quisiti
                                                                                                                  on
                                                                                 Profession
                                                                                                                  Estab
Xunchi (Hong Kong) Digital   Hong Kong,                        Hong     Kong,    al technical
                                               HKD 5,000.00                                              100.00   lishm
Technology Co., Ltd.         China                             China             service
                                                                                                                  ent
                                                                                 industry
                                                                                 Profession
                                                                                                                  Estab
Zhejiang    Xunchi   Data    Hangzhou,                         Hangzhou,         al technical
Services Co., Ltd.           Zhejiang                          Zhejiang          service
                                                                                                                  ent
                                                                                 industry
                                                                                 Profession
                                                                                                                  Estab
Yiwu     Digital     Trade   Hong Kong,                        Hong     Kong,    al technical
                                               HKD 1,000.00                                              100.00   lishm
Technology Co., Ltd.         China                             China             service
                                                                                                                  ent
                                                                                 industry
                                                                                 Profession
                                                                                                                  Estab
Yixin  Digital     Wealth    Hong Kong,                        Hong     Kong,    al technical
                                               HKD 1,000.00                                              100.00   lishm
Management Co., Ltd.         China                             China             service
                                                                                                                  ent
                                                                                 industry
           Explanation for the difference between the shareholding ratio and voting right ratio in a
           subsidiary:
           None
           Basis for holding half or less voting rights in but still controlling an investee, and holding more
           than half of the voting rights in but not controlling an investee:
           None
           Basis for controlling important structured entities included in the consolidation scope:
           None
           Basis for determining whether a company is an agent or a principal:
           None
           Other notes:
           None
                                                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
        (2) Important non-wholly owned subsidiaries
        √Applicable □Not applicable
                                                                                                                                                                  Unit: RMB
                                                  Shareholding        Profits or losses attributable to         Dividends declared to be
                                                                                                                                                      Closing balance of
                Name of subsidiary               ratio of minority     minority shareholders in the               distributed to minority
                                                                                                                                                    non-controlling interest
                                                shareholders (%)               current period               shareholders for the current period
        Zhejiang Yiwugou E-commerce
        Co., Ltd.
        Explanation for the difference between the shareholding ratio and voting right ratio of minority shareholders in a subsidiary:
        □Applicable √Not applicable
        Other notes:
        □Applicable √Not applicable
        (3) Main financial information of important non-wholly-owned subsidiaries
        √Applicable □Not applicable
                                                                                                                                                         Unit: RMB 10,000
                                                  Closing balance                                                                     Opening balance
    Name of
                       Current   Non-current      Total      Current      Non-current     Total           Current     Non-current     Total     Current       Non-current     Total
   subsidiary
                       assets      assets        assets     liabilities    liabilities liabilities        assets        assets       assets    liabilities     liabilities liabilities
Zhejiang Yiwugou
E-commerce Co.,    20,590.95         264.84     20,855.79     3,062.41               -     3,062.41   14,534.60         5,077.11    19,611.71      3,174.83              -     3,174.83
Ltd.
                                                       Amount in the current period                                                 Amount in the previous period
                                                                          Total                                                                        Total
     Name of subsidiary             Operating                                             Cash flow from            Operating                                      Cash flow from
                                                    Net profits      comprehensive                                               Net profits      comprehensive
                                    revenue                             income
                                                                                         operating activities        revenue                         income
                                                                                                                                                                  operating activities
Zhejiang Yiwugou E-commerce
Co., Ltd.
        Other notes:
        None
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            (4) Major restrictions on the use of the Group’s assets and repayment of the Group’s
            debts:
            □Applicable √Not applicable
            (5) Financial or other support provided to structured entities included in the scope of
            consolidated financial statements:
            □Applicable √Not applicable
            Other notes:
            □Applicable √Not applicable
               controlling the subsidiary
            □Applicable √Not applicable
            √Applicable □Not applicable
            (1) Important joint ventures or associates
            √Applicable □Not applicable
                                                                                                       Unit: RMB
                                                                                  Shareholding ratio       Accounting
                                                                                          (%)                treatment
   Name of joint venture or       Main place        Place of                                                method of
                                                                     Business
         associate                of business     registration                                            investment in
                                                                                   Direct     Indirect
                                                                                                        the joint venture
                                                                                                           or associate
Joint venture
                                  Yiwu,           Yiwu,
Yiwu Shanglv                                                     Real estate      49.00                Equity method
                                  Zhejiang        Zhejiang
Yiwu Huishang Redbud Capital      Yiwu,           Yiwu,          Financial
Management Co., Ltd.              Zhejiang        Zhejiang       industry
Yiwu Rongshang Property Co.,      Yiwu,           Yiwu,
                                                                 Real estate      49.00                Equity method
Ltd.                              Zhejiang        Zhejiang
Yiwu Chuangcheng Property         Yiwu,           Yiwu,
                                                                 Real estate      24.00                Equity method
Co., Ltd.                         Zhejiang        Zhejiang
Yiwu      Guoshen      Shangbo    Yiwu,           Yiwu,
                                                                 Real estate      49.00                Equity method
Property Co., Ltd.                Zhejiang        Zhejiang
Yiwu Digital Port Technology      Yiwu,           Yiwu,
                                                                 Wholesale        51.00                Equity method
Co., Ltd. [Note 7]                Zhejiang        Zhejiang
Associate
Yiwu Huishang Redbud Equity       Yiwu,           Yiwu,          Commercial
Investment Co., Ltd. [Note 8]     Zhejiang        Zhejiang       services
                                  Hangzhou,       Yiwu,          Financial
Chouzhou Financial Lease                                                          26.00                Equity method
                                  Zhejiang        Zhejiang       industry
                                                                 Leasing and
Yiwu Huishang Redbud Phase
                                  Yiwu,           Yiwu,          Business
II    Investment    Partnership                                                   10.41                Equity method
                                  Zhejiang        Zhejiang       Services
(Limited Partnership) [Note 9]
                                                                 Service
Yiwu Hongyi Equity Investment
                                  Yiwu,           Yiwu,          Financial
Fund    Partnership   (Limited                                                                49.98    Equity method
                                  Zhejiang        Zhejiang       industry
Partnership)
                                  Pujiang,        Pujiang,
Pujiang Lvgu Property Co., Ltd.                                  Real estate      49.00                Equity method
                                  Zhejiang        Zhejiang
                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                   Yiwu,           Yiwu,
CCCP                                                              Real estate      49.00                Equity method
                                   Zhejiang        Zhejiang
                                                                  Technology
                                                                  promotion
                                   Yiwu,           Yiwu,          and
Zhijie Yuangang                                                                    23.23                Equity method
                                   Zhejiang        Zhejiang       application
                                                                  service
                                                                  industry
Yiwu China Commodities City
(Chongqing) Digital Industry Chongqing Chongqing Service                      10.00                  Equity method
Park Co., Ltd.[Note 10]
Botong Chuhai (Yiwu) Industrial
                                   Yiwu,        Yiwu,        Financial
Investment Fund Partnership                                                   32.42                  Equity method
                                   Zhejiang     Zhejiang     industry
(Limited Partnership)
            Explanation for the difference between the shareholding ratio and voting right ratio in a joint
            venture or associate:
            None
            Bases for holding less than 20% of the voting rights but having significant influence, or holding
                  Note 7: The Company holds more than 50% of the shares in Yiwu Digital Port Technology
            Co., Ltd. According to the relevant mechanisms established by the Company's board of
            directors or similar governing body for making major business decisions, approval must be
            obtained unanimously by all investors before implementation. The Company does not have
            substantive control over Yiwu Digital Port Technology Co., Ltd., thus treating Yiwu Digital Port
            Technology Co., Ltd. as a joint venture for accounting purposes.
                  Note 8: The Company holds 10.42% of the equity in Huishang Redbud (2025: 10.42%), but
            accounts for it as an associate of the Company. In accordance with the Articles of Association,
            Huishang Redbud Company is engaged in investment business. Its significant financial and
            operating decisions primarily involve the selection and management of investment projects, all
            of which have been fully delegated to the Company's joint venture, Yiwu Huishang Redbud
            Capital Management Co., Ltd. (hereinafter referred to as "Redbud Management Company").
            Redbud Management Company conducts the selection and management of investment
            projects through its Investment Decision Committee. Unless special investment matters require
            the approval of the board of directors of Huishang Redbud Company, all other significant
            financial and operating investment decisions shall be executed on behalf of the Company by
            Redbud Management Company. Therefore, the Company is able to exert significant influence
            over Huishang Redbud, in which the Company holds a 10.42% stake.
                  Note 9: The Company holds 10.41% of the equity in Yiwu Huishang Redbud Phase II
            Investment Partnership (Limited Partnership) (hereinafter referred to as “Redbud Phase II”)
            (2025: 10.41%), but accounts for it as an associate of the Company. According to the
            Company's articles of association, Redbud Phase II engages in investment business, and its
            important financial and operational decision-making activities involve selecting and managing
            investment projects. These activities have been fully entrusted to the Company's joint venture,
             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Redbud Management Company. The Redbud Management Company selects and manages
investment projects through its investment decision-making committee. Unless it involves
special investment matters that require approval by the board of directors of Redbud Phase II,
other important financial and operational decision-making investment matters are executed by
the Redbud Management Company on behalf of the Company. Therefore, the Company could
exert significant influence on Redbud Phase II of which it held 10.41% equity.
    Note 10: The Company holds less than 20% of the shares in Yiwu China Commodities City
(Chongqing) Digital Industry Park Co., Ltd. According to the relevant mechanism established by
the Company's board of directors or similar governing body for making major business
decisions, this company has the right to nominate 1 director and can exert significant influence
over Yiwu China Commodities City (Chongqing) Digital Intelligence Industrial Park Co., Ltd.
Therefore, Yiwu China Commodities City (Chongqing) Digital Intelligence Industrial Park Co.,
Ltd. is accounted for as an associate.
                                          Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Key financial information of important joint ventures
√Applicable □Not applicable
                                                                                                                                         Unit: RMB 10,000
                                                      Closing balance/amount in the current period           Opening balance/amount in the previous period
                                                        Yiwu Shanglv           Guoshen Shangbo                  Yiwu Shanglv         Guoshen Shangbo
Current assets                                                    8,720.59                12,838.00                      5,247.24                48,176.67
    In which: cash and cash equivalents                           3,691.05                  7,510.20                     4,126.87                34,151.76
Non-current assets                                             125,633.07                   9,664.80                   127,778.58                 1,812.20
Total assets                                                   134,353.66                 22,502.80                    133,025.82                49,988.87
Current liabilities                                               15,850.96                       558.86                 19,774.73               3,004.36
Non-current liabilities                                            9,546.88                            -                  9,360.13                      -
Total liabilities                                                 25,397.84                       558.86                 29,134.86               3,004.36
Shareholders’ equity attributable to parent
company
Share of net assets calculated based on
shareholding ratio
Adjustments                                                        -1,397.86                             -               -1,397.86                       -
--Unrealized profits of internal transactions                      -1,397.86                             -               -1,397.86                       -
Book value of equity investment in joint
ventures
Operating revenue                                                 13,914.89                         0.18                 13,401.88               1,111.52
Financial expenses                                                   185.16                        -8.18                    210.37                 -37.14
Income tax expense                                                 2,219.40                      -205.85                  1,698.85                   0.25
Net profits                                                        5,064.86                       -40.56                  5,096.55              -1,030.19
Total comprehensive income                                         5,064.86                       -40.56                  5,096.55              -1,030.19
Dividends received from joint ventures this year                          -                    12,250.00                         -              72,058.82
Other notes
None
                                                       Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         (3) Main financial information of important associates
         √Applicable □Not applicable
                                                                                                                                                        Unit: RMB 10,000
                                                   Closing balance/amount in the current period                             Opening balance/amount in the previous period
                                        Chouzhou         Hongyi                     Pujiang       Zhijie           Chouzhou         Hongyi                     Pujiang     Zhijie
                                                                      CCCP                                                                      CCCP
                                     Financial Lease      Fund                        Lvgu      Yuangang        Financial Lease      Fund                       Lvgu     Yuangang
Current assets                      2,166,917.09        24,834.36 2,143,599.11 92,731.95 113,623.29            2,081,446.41        20,241.02 2,054,045.80 94,967.77 87,373.29
Non-current assets                      19,089.73 148,688.66         165,237.70       102.32     3,762.58                       - 150,413.35   104,922.29         75.76   2,959.81
Total assets                        2,186,006.82 173,523.02 2,308,836.81 92,834.27 117,385.87                  2,081,446.41 170,654.37 2,158,968.09 95,043.53 90,333.10
Current liabilities                 1,199,637.20              -   1,535,190.10      7,471.43       53,216.57   1,844,224.56                 -   1,345,329.09    9,829.89   34,086.62
Non-current liabilities               720,400.64              -     163,968.43             -          240.73              -                 -     203,997.80           -      239.34
Total liabilities                   1,920,037.84              -   1,699,158.53      7,471.43       53,457.30   1,844,224.56                 -   1,549,326.89    9,829.89   34,325.96
Non-controlling interest                        -             -      -3,263.11              -              -                -               -              -           -           -
Shareholders’ equity
attributable to parent company
Share of net assets calculated
based on shareholding ratio
Adjustments                                     -     4,016.84          164.64              -              -                -        4,736.71        164.64            -    2,065.60
--Unrealized profits of internal
transactions
                                                -     4,016.84          164.64              -              -                -        4,736.71        164.64            -    2,065.60
Book      value     of     equity
investment in joint ventures
Operating revenue                      41,838.52             -     246,669.40       1,326.04       92,760.07      39,180.57                -     159,071.25     4,336.90   19,073.02
Net profits                            28,747.13      1,427.90        -115.49         149.20         -825.87      25,067.17           214.55       8,429.38    -1,259.41       72.00
Total comprehensive income             28,747.13      1,427.90        -115.49         149.20         -825.87      25,067.17           214.55       8,429.38    -1,259.41       72.00
Dividend      on     associates
received in the current year
                                                -             -                -            -              -                -               -              -           -           -
         Other notes
         None
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(4) Summary of financial information of unimportant joint ventures and associates
√Applicable □Not applicable
                                                                                    Unit: RMB
                                Closing balance/amount in the    Opening balance/amount in
                                        current period               the previous period
Joint ventures:
Total book value of
investments
Total amounts of the following items calculated based on shareholding ratio
--Net profits                                    -1,363,241.37                    -862,392.99
--Other comprehensive
income
--Total comprehensive
                                                 -1,363,241.37                    -862,392.99
income
Associates:
Total book value of
investments
Total amounts of the following items calculated based on shareholding ratio
--Net profits                                    1,580,292.70                           -8,893,520.47
--Other comprehensive
                                                                                            -25,284.91
income
--Total comprehensive
income
Other notes
None
(5) Explanation of significant limitations on the ability of joint ventures or associates to
transfer funds to the Company
□Applicable √Not applicable
(6) Excess losses incurred by joint ventures or associates
□Applicable √Not applicable
(7) Unconfirmed commitments related to joint venture investments
□Applicable √Not applicable
(8) Contingent liabilities relating to investment in joint ventures or associates
□Applicable √Not applicable
□Applicable √Not applicable
   statements
Notes on structured entities not included in the consolidated financial statements:
□Applicable √Not applicable
□Applicable   √Not applicable
                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
XI. Government subsidy
    period
    □Applicable √Not applicable
    Reasons for not receiving the expected amount of government subsidies at the expected time
    point
    □Applicable √Not applicable
    √Applicable □Not applicable
                                                                                                   Unit: RMB
                                                 Transferred to
         Financial                                                                           Related to
                         Opening balance        other income in      Closing balance
     statement items                                                                       assets/income
                                                   this period
    Deferred income        116,223,417.33           2,042,066.84      114,181,350.49      Asset-related
          Total            116,223,417.33           2,042,066.84      114,181,350.49      /
    √Applicable □Not applicable
                                                                                                   Unit: RMB
                Type                   Amount in the current period        Amount in the previous period
    Asset-related                                        2,042,066.84                            2,565,819.95
    Income-related                                      11,191,521.67                            2,042,066.84
                Total                                   13,233,588.51                            4,607,886.79
    Other notes:
    None
XII. Risks associated with financial instruments
     √Applicable □Not applicable
           The Company's goal in risk management is to achieve a balance between risks and
     benefits, minimize the negative impact of risks on the Company's operating performance, and
     maximize the interests of shareholders and other equity investors. Based on this risk
     management objective, the basic strategy of the Company's risk management is to identify and
     analyze various risks faced by the Company, establish an appropriate risk tolerance bottom line
     and carry out risk management, and supervise various risks in a timely and reliable manner,
     and control risks within a limited range.
           In its daily operations, the Company faces various risks related to financial instruments,
     primarily including credit risk, liquidity risk, and market risk. The management has reviewed and
     approved policies to manage these risks.
           Credit risk
           Credit risk refers to the risk that one party to a financial instrument cannot fulfill its
     obligations, resulting in financial losses for the other party.
           (1) Credit Risk Assessment Methods
           The Company evaluates, on each balance sheet date, whether the credit risk of related
     financial instruments has increased significantly since the initial recognition thereof. In
     determining whether the credit risk of a financial instrument has increased significantly since the
     initial recognition thereof, the Company takes into account the reasonable and well-grounded
     information that is accessible without unnecessary extra costs or efforts, including the
     qualitative and quantitative analyses based on the historical data, external credit risk rating and
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
forward-looking information. The Company compares the risk of financial instruments defaulting
on the balance sheet date and the risk of them defaulting on the date of initial recognition based
on an individual financial instrument or a group of financial instruments with similar credit risk
characteristics to determine the changes in anticipated default risk of the financial instrument(s)
within the duration thereof.
     If a financial instrument meets one or more of the following quantitative or qualitative
criteria, the Company will determine that its credit risk has increased significantly:
duration on the balance sheet date rises by a certain margin from that at its initial recognition;
or financial conditions, existing or anticipated changes in technological, market, economic, or
legal environments that will have a material adverse impact on the debtor's ability to repay the
Company, etc.
     (2) Definition of Defaulted and Credit-Impaired Assets
     When a financial instrument meets one or more of the following conditions, the Company
classifies the financial asset as in default, with criteria consistent with the definition of incurred
credit impairment:
on the economic or contract considerations in connection with the debtor’s financial difficulty;
     The key parameters for measuring expected credit losses include the probability of default,
loss given default, and exposure at default. The Company has built the models of probability of
default, loss given default and default risk exposure based on the quantitative analysis of
historical data (e.g. rating of counterparties, form of guarantee and category of collaterals or
pledges, form of repayment) and forward-looking information.
instruments is detailed in Notes VII.4, VII.5, VII.9, VII.13, VII.16, and VII.30 to these financial
statements.
     The credit risk of the Company mainly comes from monetary funds and receivables. To
control the aforementioned risks, the Company has taken the following measures respectively.
     (1) Monetary funds
     The Company deposits bank balances and other monetary funds in financial institutions
with high credit ratings, resulting in relatively low credit risk.
     (2) Accounts Receivable
     The Company continuously conducts credit assessments for customers engaged in
credit-based transactions. Based on the credit assessment results, the Company chooses to
conduct transactions with accredited and creditworthy customers and monitors their accounts
receivable balances to ensure that the Company is not exposed to significant bad debt risks.
     As the Company's accounts receivable risk points are distributed among multiple partners
and customers, as of June 30, 2026, 32.30% (December 31, 2025: 31.80%) of the Company's
accounts receivable comes from the top five customers, and the Company does not have
significant credit concentration risk.
     The maximum credit risk exposure assumed by the Company is the carrying value of each
financial asset in the balance sheet.
     Liquidity risk
     Liquidity risk refers to the risk of a shortage of funds when the Company performs its
obligations to settle by cash or other financial assets. Liquidity risk may arise from the inability to
sell financial assets at fair value quickly; or from the counterparty's failure to repay its
contractual obligations; or from early-maturity debt; or from the inability to generate expected
cash flows.
     To control this risk, the Company employs a comprehensive approach by utilizing various
financing methods such as bill settlements and bank loans, while appropriately combining
long-term and short-term financing to optimize the financing structure, thereby maintaining a
                               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             balance between financing continuity and flexibility. The Company has obtained credit lines
             from multiple commercial banks to meet working capital requirements and capital expenditures.
                 Financial liabilities classified by remaining maturity
                    June 30, 2026
                                                             Amount at the end of the year
         Item                                      Undiscounted
                                Book value                           Within 1 year         1-3 years                  Over 3 years
                                                  contract amount
Accounts payable              1,936,920,569.75   1,936,920,569.75 1,936,920,569.75                              -                    -
Other payables                2,525,408,939.65   2,525,408,939.65 2,525,408,939.65                              -                    -
Other           current
liabilities
Non-current
liabilities due within          78,543,508.32        115,658,786.83         115,658,786.83                      -                    -
one year
Long term loan                  284,175,043.55     332,660,948.44                        -         70,617,597.85     262,043,350.59
Lease liabilities               123,826,782.28     185,159,785.66                        -         38,316,974.65     147,357,157.80
Bonds payable                 2,799,222,788.66   2,881,340,000.00                        -      2,881,340,000.00                  -
Total                         8,440,338,101.88   8,669,389,500.00         5,270,228,765.90      2,990,274,572.50     408,886,161.60
                                                                Amount at the end of the year
            Item                                       Undiscounted
                                    Book value                           Within 1 year        1-3 years                Over 3 years
                                                      contract amount
Accounts payable                  1,995,926,945.56    1,995,926,945.56       1,995,926,945.56                   -                    -
Other payables                    1,013,981,521.93    1,013,981,521.93       1,013,981,521.93                   -                    -
Other current liabilities           960,391,048.13      960,391,048.13         960,391,048.13                   -                    -
Non-current     liabilities
due within one year
Long term loan                      456,224,418.38       535,489,088.26         10,438,706.59       129,605,279.80    395,445,101.87
Lease liabilities                   129,609,121.91       198,478,346.65                     -        51,121,188.85    147,357,157.80
Bonds payable                     2,799,044,726.49     2,912,740,000.00                     -     2,912,740,000.00                 -
Total                             7,476,165,806.40     7,775,962,687.16      4,139,693,958.84     3,093,466,468.65    542,802,259.67
                  Market risks
                  Market risk refers to the risk that the fair value of financial instruments or future cash
             flows may fluctuate due to changes in market prices. Market risks mainly include interest
             rate risk and foreign exchange risk.
                  Interest rate risk
                  Interest rate risk refers to the risk that the fair value or future cash flows of a financial
             instrument will fluctuate due to changes in market interest rates. Fixed-rate interest-bearing
             financial instruments expose the Company to fair value interest rate risk, while floating-rate
             interest-bearing financial instruments expose the Company to cash flow interest rate risk.
             The Company determines the proportion of fixed-rate and floating-rate financial instruments
             based on market conditions and maintains an appropriate portfolio of financial instruments
             through regular reviews and monitoring. The interest rate risk on cash flows faced by the
             Company is mainly related to the bank loans with floating interest rates that the Company
             bears.
                  As of June 30, 2026, the Company has bank borrowings at floating interest rates
             amounting to RMB 314,834,963.03 (December 31, 2025: RMB 523,518,963.03). Under the
             assumption that other variables remain unchanged, a change of 50 basis points in interest
             rates will not have a significant impact on the Company's total profit and shareholders'
             equity.
                  Foreign exchange rate risk
                  Foreign exchange risk refers to the risk that the fair value of financial instruments or
             future cash flows may fluctuate due to changes in foreign exchange rates. The exchange
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
rate fluctuation risks faced by the Company are mainly related to the Company’s foreign
currency monetary assets and liabilities. For foreign currency assets and liabilities, if
short-term imbalances occur, the Company will buy or sell foreign currencies at market
exchange rates when necessary to maintain net risk exposure at an acceptable level.
     For details of the Company's foreign currency monetary assets and liabilities at the end of
the period, please refer to Note VII. 81 Foreign Currency Monetary Items in the notes to these
financial statements.
(1) The Company conducts hedging business for risk management
□Applicable √Not applicable
Other notes
□Applicable    √Not applicable
(2) The Company conducts eligible hedging business and applies hedging accounting
□Applicable √Not applicable
Other notes
□Applicable    √Not applicable
(3) The Company conducts hedging business for risk management and expects to
achieve risk management goals, but has not applied hedging accounting
□Applicable √Not applicable
Other notes
□Applicable    √Not applicable
(1) Classification of transfer methods
□Applicable √Not applicable
(2) Financial assets derecognized due to transfer
□Applicable √Not applicable
(3) Transferred financial assets in which the Group continued to be involved
□Applicable √Not applicable
Other notes
□Applicable    √Not applicable
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     XIII. Disclosure of fair value
           √Applicable □Not applicable
                                                                                                       Unit: RMB
                                                                        Closing fair value
                                              Level 1 fair       Level 2 fair
                  Item                                                         Level 3 fair value
                                                value              value                                   Total
                                                                                  measurement
                                             measurement        measurement
I. Continuous fair value measurement
(I) Trading financial assets                                                     2,150,168,093.52 2,150,168,093.52
fair value and whose changes are                                                 2,050,168,093.52 2,050,168,093.52
included in the current profit and loss
(2) Investment in equity instruments                                             2,050,168,093.52 2,050,168,093.52
value through profit or loss
(III) Other equity instrument investments 568,185,841.14                                               568,185,841.14
Total assets continuously measured
at fair value
              non-continuously measured at Level 1 fair value
          √Applicable □Not applicable
              The Level 1 fair value measurement of trading financial assets held by the Company
          consists of stocks traded in active markets. The Company determines their fair value based on
          quoted prices in active markets.
              parameters for the items continuously and non-continuously measured at Level 2
              fair value
          √Applicable □Not applicable
              The Company’s Level 2 fair value–measured trading financial assets consist of bank
          wealth management products. The Company determines the fair value of wealth management
          products based on the net asset value announced on their year-end valuation date.
                parameters for the items continuously and non-continuously measured at Level 3
                fair value
          √Applicable □Not applicable
                The Company’s Level 3 fair value–measured trading financial assets consist of equity
          instruments of listed companies subject to lock-up periods and structured deposits. For equity
          instruments of listed companies subject to lock-up restrictions, the Company determines their
          fair value by applying a liquidity discount—calculated as a percentage reflecting illiquidity during
          the lock-up period—to their active-market quotations. For structured deposits, the Company
          determines their fair value by estimating future cash flows using expected rates of return and
          discounting them accordingly.
                The other equity instrument investments measured at fair value under Level 3 held by the
          Company are equity interests in non-listed companies. For non-listed equity instrument
          investments, the Company comprehensively considers and applies methods such as the
          market approach and discounted cash flow to estimate fair value. For investees whose
          operating environment, business conditions, and financial position have not undergone
                  Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    significant changes, the Company measures fair value using the investment cost as a
    reasonable estimate.
       and the sensitivity analysis of unobservable parameters for items continuously
       measured at Level 3 fair value
    □Applicable √Not applicable
       different levels in the current period, the reasons for the conversion and the policy
       for determining the time of conversion
    □Applicable √Not applicable
    □Applicable √Not applicable
    □Applicable √Not applicable
    □Applicable   √Not applicable
XIV. Related parties and related transactions
     √Applicable □Not applicable
                                                                                         Unit: RMB 10,000
                                                                              Shareholding Voting right
         Name of parent          Place of                      Registered      ratio in the     ratio in the
                                                Business
           company             registration                     capital         Company          Company
                                                                                   (%)              (%)
    Yiwu             China
                              Yiwu,          Asset
    Commodities        City                                   100,000.00         56.37         56.37
                              Zhejiang       management
    Holdings Limited
    Notes on the parent company of the Company
    None
    The ultimate controlling party of this enterprise is the State-owned Assets Supervision and
    Administration Office of Yiwu Municipal People's Government.
    Other notes:
    None
    For details of the Company’s subsidiaries, please refer to the Notes
    √Applicable □Not applicable
    Please refer to Note X. 1. Equity in Subsidiaries
    For details of the Company’s important joint ventures or associates, please refer to the Notes
    √Applicable □Not applicable
    Please refer to Note X. 3 Equity in Joint Ventures or Associates
    Other joint ventures or associates that have related-party transactions with the Company in the
    current period or had related-party transactions with the Company in the prior year which
    resulted in an outstanding amount are as follows.
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
√Applicable     □Not applicable
                                                                                                  Relationship
                          Name of joint venture or associate                                         with the
                                                                                                   Company
Yiwu Shanglv                                                                                     Joint venture
Yiwu China Commodities City Creative Design and Development Services Co., Ltd.                   Joint venture
Yiwu Guoshen Shangbo Property Co., Ltd.                                                          Joint venture
Yiwu Rongshang Property Co., Ltd.                                                                Joint venture
Zhejiang Yemai Data Technology Co., Ltd.                                                         Associate
Yiwu Meipinshu Supply Chain Management Co., Ltd.                                                 Associate
JEBEL ALI FREE ZONE TRADER MARKET DEVELOPMENT AND OPERATION FZCO                                 Associate
Yiwu Digital Port Technology Co., Ltd.                                                           Associate
CCCP                                                                                             Associate
Hangzhou MicroAnts Co., Ltd.                                                                     Associate
Huishang Zijing                                                                                  Associate
Zhijie Yuangang                                                                                  Associate
Yiwu Heimahui Enterprise Service Co., Ltd.                                                       Associate
Zhejiang YXE Supply Chain Management Co., Ltd.                                                   Associate
Other notes
□Applicable √Not applicable
√Applicable □Not applicable
            Name of other related party                               Relationship with the Company
                                                         Controlling shareholder of the Company’s largest
MDG
                                                         shareholder
                                                         Subsidiary of controlling shareholder of the Company’s
Yiwu Market Development Service Center Co., Ltd.
                                                         largest shareholder
Yourworld  International Conference    Center
                                                         Branch of Controlling shareholder of the Company’s
Company of Yiwu Market Development Group Co.,
                                                         largest shareholder
Ltd.
                                                         Subsidiary of controlling shareholder of the Company’s
Zhejiang Xingfuhu Sports Development Co., Ltd.
                                                         largest shareholder
                                                         Subsidiary of controlling shareholder of the Company’s
Yiwu Agriculture Development Co., Ltd.
                                                         largest shareholder
                                                         Subsidiary of controlling shareholder of the Company’s
Yiwu Security Service Co., Ltd.
                                                         largest shareholder
Zhejiang Yiwu Baixian Wanpin              Agricultural   Subsidiary of controlling shareholder of the Company’s
Assistance Supply Chain Co., Ltd.                        largest shareholder
CCCP                                                     Enterprises controlled by the largest shareholder
Shangbo Yungu                                            Enterprises controlled by the largest shareholder
CCC Property Service                                     Enterprises controlled by the largest shareholder
Yiwu Jinlong Shangbo Property Co., Ltd.                  Enterprises controlled by the largest shareholder
Yiwu Jinhong Shangbo Enterprise Management
                                                         Enterprises controlled by the largest shareholder
Co., Ltd.
Yiwu Shangbo Enterprise Management Co., Ltd.             Enterprises controlled by the largest shareholder
Yiwu Gongchen Shangbo Property Co., Ltd.                 A subsidiary of a joint venture of the Company
Yiwu Chengzhen Property Co., Ltd.                        A subsidiary of a joint venture of the Company
Yisha Chengdu International Trade City Co., Ltd.         Minority shareholder of major subsidiaries
Other notes
None
                            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
             (1)   Related transactions for purchasing and selling commodities, providing and
                 receiving labor services
             Purchasing goods/accepting service
             √Applicable □Not applicable
                                                                                     Unit: RMB
                                                                              Approved        Whether the
                                       Contents of          Amount in the    transaction   transaction limit is    Amount in the
        Related party
                                related-party transaction   current period    amount (if      exceeded (if        previous period
                                                                             applicable)       applicable)
                                Property service fee and
CCC Property Service            greening maintenance        185,665,835.48           NA            NA             112,328,185.22
                                fee
Shangbo Yungu                   Construction fee              8,229,180.21           NA            NA               4,576,200.00
Yiwu Security Service Co.,
                                Security service fee          6,914,204.49           NA            NA               8,752,841.39
Ltd.
Zhijie Yuangang                 Service fees                  3,011,908.43           NA            NA                           -
Yiwu Digital Port Technology    Platform operation and
Co., Ltd.                       maintenance fees
                                Procurement and
Zhejiang    Yemai       Data
                                system development            1,035,309.44           NA            NA                    1,592.92
Technology Co., Ltd.
                                fees
Yiwu China Commodities City
Creative     Design      and
                                Design fee                     574,280.00            NA            NA                 560,673.27
Development Services Co.,
Ltd.
Yourworld       International
Conference Center Company       Procurement and
of Yiwu Market Development      meeting affair expenses
Group Co., Ltd.
Yiwu Shangdu International
                                Event Organization Fee           38,400.00           NA            NA                  79,200.00
Travel Agency Co., Ltd.
             Selling goods/rendering services
             √Applicable □Not applicable
                                                                                                           Unit: RMB
                                                                             Contents of                        Amount in
                                                                                              Amount in the
                          Related party                                     related-party                     the previous
                                                                                              current period
                                                                             transaction                          period
Zhijie Yuangang                                                        Warehousing cost        4,830,218.08               -
Yiwu Shanglv                                                           Product sales             446,726.17               -
                                                                       Product sales and
CCC Property Service                                                                             179,355.48 328,877.36
                                                                       system development
Yourworld International Conference Center Company of                   Product sales and
Yiwu Market Development Group Co., Ltd.                                washing fees
Yiwu Meipinshu Supply Chain Management Co., Ltd.                       Product sales              88,495.58               -
                                                                       Information service
CCCP                                                                                              18,867.92      20,000.00
                                                                       fee
                                                                       Advertising production
Yiwu Digital Port Technology Co., Ltd.                                                                      -      5,158.49
                                                                       costs
Zhejiang Xingfuhu Sports Development Co., Ltd.                         Laundering fees                      -      1,530.20
             Notes on related-party transactions of purchasing and selling goods and rendering and
             accepting service
             □Applicable √Not applicable
            Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(2) Entrustment/contracting from and to related parties
Entrustment/contracting to the Company:
√Applicable □Not applicable
                                                                                        Unit: RMB
                                             Starting       Ending                    Entrustment
                                             date of        date of       Pricing of income/contr
  Name of       Name of         Type of
                                            entrustm       entrustm     entrustment acting income
consignor/em consignee/cont entrusted/contr
                                               ent            ent      income/contr recognized in
   ployer        ractor      acted assets
                                            /contract      /contract   acting income the current
                                               ing            ing                       period
                            Entrustment of 2025-02         2030-01     Negotiated
MDG          The Company                                                               650,630.85
                            other assets    -01            -31         price
Notes on entrustment/contracting from related parties
√Applicable □Not applicable
    According to the management contract signed with the Market Development Group for the
Yiwu Yourworld International Conference Center, the Company is entrusted to manage the
Yourworld International Conference Center Hotel located at No. 100 Xingfuhu Road, Yiwu City.
The hotel management fee received by the Company during this reporting period amounted to
RMB 650,630.85 (January to June 2025: RMB 371,726.38 ).
Entrustment/contracting from the Company:
□Applicable √Not applicable
Notes on related-party management/contracting
□Applicable √Not applicable
                                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(3) Related leasing
The Company as the lessor:
√Applicable □Not applicable
                                                                                                                                                    Unit: RMB
                                                                                Rental income recognized in the            Rental income recognized in the
                Name of lessee                      Type of leased asset
                                                                                         current period                             previous period
CCCP                                              Office space                                          367,373.40                                 367,373.34
Yiwu Market Development Service Center Co.,
                                                  Parking lot                                             297,960.54                             308,009.66
Ltd.
CCC Property Service                              Office space                                            240,671.58                             469,929.36
Zhijie Yuangang                                   Office space                                            145,303.36                             523,239.45
Yiwu Digital Port Technology Co., Ltd.            Office space                                            108,509.64                             108,509.64
                                                  Warehouse and parking
Yiwu Shanglv                                                                                                           -                         191,131.49
                                                  lot
Yiwu Meipinshu Supply Chain Management Co.,
                                            Office space                                                               -                         107,716.98
Ltd.
Yiwu Huishang Micro-finance Co., Ltd.       Auxiliary buildings                                                        -                           78,360.00
The Company as the lessee
√Applicable □Not applicable
                                                                                                                                                 Unit: RMB
                                                                 Amount in the current period                        Amount in the previous period
                                                            Simplified treatment of rental                      Simplified treatment of rental
lessor name                Type of leased asset            expenses for short-term leases      Rent            expenses for short-term leases      Rent
                                                          and leases of low-value assets (if   paid           and leases of low-value assets (if   paid
                                                                     applicable)                                         applicable)
CCCH                       Warehouses                                                        -      -                             7,512,968.82           -
Notes on related-party lease
□Applicable √Not applicable
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         (4) Related guarantees
         The Company as the guarantor
         □Applicable √Not applicable
         The Company as the guaranteed party
         □Applicable √Not applicable
         Notes on related-party guarantees
         □Applicable √Not applicable
         (5) Related-party fund lending
         √Applicable □Not applicable
                                                                                                    Unit: RMB
                                                   Maturity
Related party     Amount         Starting date                                  Description of transaction
                                                    date
Borrowings
                                                                  In 2022, the Group allocated surplus funds of RMB
Yiwu                                                              Co., Ltd., with an allocation proportionate to
Chengzhen                                                         shareholding and an annual interest rate of 0%.
Property Co.,                                                     According to the supplementary agreement for this
Ltd.                                                              period, the borrowed funds were transferred to its
                                                                  parent company, Yiwu Chuangcheng Real Estate
                                                                  Co., Ltd.
                                                                  In 2022, the Group received a pre-dividend
Yiwu                                                              payment of RMB 53,717,292.23 from Rongshang
Rongshang                                                         Property. As of June 30, 2026, RMB 48,165,000.00
Property Co.,                                                     has been repaid, and the remaining repayment
Ltd.                                                              date will be determined according to the funding
                                                                  needs of Rongshang Property 's projects.
      Related party                Amount             Starting       Maturity         Description of transaction
                                                       date           date
Lending to
JEBEL ALI FREE ZONE                                                               In 2020, the Group provided
TRADER        MARKET                                                              JEBEL      ALI     FREE     ZONE
DEVELOPMENT      AND                                                              TRADER                    MARKET
OPERATION FZCO                                                                    DEVELOPMENT                  AND
JEBEL ALI FREE ZONE                                                               OPERATION FZCO financial
TRADER        MARKET                                Mar       31,                 assistance       totaling    RMB
DEVELOPMENT      AND                                2021                          63,465,484.42; in 2021, the
OPERATION FZCO                                                                    Group provided it with financial
                                                                                  assistance       totaling    RMB
                                                                                  Group provided it with financial
JEBEL ALI FREE ZONE                                                               assistance       totaling    RMB
TRADER        MARKET                                May       12,                 41,772,885.00, all at an annual
DEVELOPMENT      AND                                2022                          interest rate of 6-month average
OPERATION FZCO                                                                    EIBOR plus 5%. The repayment
                                                                                  term of the financial assistance
                                                                                  would be determined based on
                                                                                  the progress of the project.
                             Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
              (6) Asset transfer and debt restructuring of related parties
              □Applicable √Not applicable
              (7) Compensation for key officers
              √Applicable □Not applicable
                                                                                                Unit: RMB 10,000
                                                                                            Amount in the previous
                              Item                     Amount in the current period
                                                                                                   period
              Compensation for key officers                                      689.45                     717.34
              (8) Other related transactions
              □Applicable √Not applicable
              (1) Receivable items
              √Applicable □Not applicable
                                                                                                          Unit: RMB
                                                                     Closing balance                 Opening balance
    Item                          Related party                                 Bad debt                         Bad debt
                                                                 Book balance                     Book balance
                                                                                provision                        provision
Accounts           Yiwu Meipinshu Supply Chain
receivable         Management Co., Ltd.
Accounts           Yiwu Shangdu International Travel
receivable         Agency Co., Ltd.
                   Yourworld     International  Conference
Accounts
                   Center Company of Yiwu Market                     324,507.17      1,646.55        189,862.89       721.48
receivable
                   Development Group Co., Ltd.
Accounts           Zhejiang Yiwu Liming Lake Training
receivable         Service Co., Ltd.
Accounts
                   Yiwu Digital Port Technology Co., Ltd.                  546.80         2.77              151.20      0.57
receivable
Accounts
                   Yiwu Shanglv                                                  -            -       19,580.89        74.41
receivable
Total                                                              5,885,524.55 29,863.14          5,124,920.21 19,474.70
Advance
                   Shangbo Yungu                                   2,407,154.73               -    5,040,543.41              -
payments
Advance
                   CCC Property Service                                          -            -       73,676.50              -
payments
Total                                                              2,407,154.73               -    5,114,219.91              -
Other
                   MDG                                             1,014,449.83               -      363,907.92              -
receivables
Other
                   Yiwu Shanglv                                           2,405.67            -            2,405.67          -
receivables
Other
                   CCC Property Service                                          -            -       58,369.35              -
receivables
Other              Yiwu Market Development Service Center
                                                                                 -            -       43,170.40              -
receivables        Co., Ltd.
Other
                   Yiwu Digital Port Technology Co., Ltd.                25,000.00            -       25,000.00              -
receivables
Other
                   Yiwu Security Service Co., Ltd.                       19,800.00            -       19,800.00              -
receivables
Other              Zhejiang Xingfuhu Sports Development
                                                                                 -            -             417.30           -
receivables        Co., Ltd.
Total                                                              1,061,655.50               -      513,070.64              -
                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                   Closing balance                Opening balance
        Item                   Related party                                  Bad debt                       Bad debt
                                                               Book balance                    Book balance
                                                                              provision                      provision
                 JEBEL ALI FREE ZONE TRADER
Long-term
                 MARKET     DEVELOPMENT AND 260,489,038.85                                  - 255,266,032.72                 -
receivables
                 OPERATION FZCO
Total                                       260,489,038.85                                  - 255,266,032.72                 -
               (2) Payable items
               √Applicable □Not applicable
                                                                                                             Unit: RMB
        Item                            Related party                               Closing book              Opening book
                                                                                      balance                    balance
Accounts
                 CCC Property Service                                                   1,121,519.80                2,410.77
payable
Accounts
                 Zhijie Yuangang                                                          991,630.69                         -
payable
Accounts
                 Shangbo Yungu                                                            879,725.81            2,104,411.81
payable
Accounts
                 Zhejiang Yemai Data Technology Co., Ltd.                                 246,128.45              223,228.45
payable
Accounts
                 Yiwu Security Service Co., Ltd.                                            76,183.49             495,800.00
payable
Accounts         Zhejiang Yiwu Baixian Wanpin Agricultural Assistance
payable          Supply Chain Co., Ltd.
Accounts         Yiwu China Commodities City Creative Design and
                                                                                                         -        764,910.89
payable          Development Services Co., Ltd.
Accounts
                 Zhejiang YXE Supply Chain Management Co., Ltd.                                          -          5,755.50
payable
Accounts
                 Yiwu Agriculture Development Co., Ltd.                                                  -            307.00
payable
Total                                                                                   3,321,839.64            3,612,977.19
Advance from
                 CCCP                                                                     329,641.51              824,103.79
customers
Advance from
                 CCC Property Service                                                     317,335.50                         -
customers
Advance from
                 Yiwu Digital Port Technology Co., Ltd.                                     50,539.92             202,153.56
customers
Advance from
                 Zhijie Yuangang                                                            37,015.97             142,536.99
customers
Total                                                                                     734,532.90            1,168,794.34
Contract
                 CCC Property Service                                                       69,188.08              83,706.57
liabilities
Contract
                 Yiwu Digital Port Technology Co., Ltd.                                     56,983.83              43,353.25
liabilities
Contract
                 Yiwu Huishang Micro-finance Co., Ltd.                                      47,169.81                        -
liabilities
Total                                                                                     173,341.72              127,059.82
Other
                 Yiwu Rongshang Property Co., Ltd.                                      5,552,292.23           53,717,292.23
payables
Other
                 Zhijie Yuangang                                                        2,750,000.00            2,900,000.00
payables
Other
                 CCCP                                                                     240,000.00              240,000.00
payables
Other            Yiwu Heimahui Enterprise Service Co., Ltd.                               111,080.00              111,080.00
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    Item                              Related party                               Closing book             Opening book
                                                                                    balance                  balance
payables
Other
             Yiwu Meipinshu Supply Chain Management Co., Ltd.                             57,000.00             57,000.00
payables
Other        Yourworld International Conference Center Company of
payables     Yiwu Market Development Group Co., Ltd.
Other
             Yiwu Digital Port Technology Co., Ltd.                                       32,000.00             32,000.00
payables
Other
             Hangzhou MicroAnts Co., Ltd.                                                 11,080.00             11,080.00
payables
Other
             Zhejiang Yemai Data Technology Co., Ltd.                                      6,790.00              6,790.00
payables
Other
             CCC Property Service                                                          3,500.00              6,220.22
payables
Other
             Yiwu Chengzhen Property Co., Ltd.                                                         -    20,182,421.25
payables
Total                                                                                 8,814,750.23          77,314,783.70
           (3) Other projects
           □Applicable √Not applicable
           □Applicable √Not applicable
           □Applicable   √Not applicable
      XV. Share-based payment
           (1) Details
           □Applicable √Not applicable
           (2) Stock options or other equity instruments issued to the public as of the end of the
               period
           □Applicable √Not applicable
           □Applicable √Not applicable
           □Applicable √Not applicable
           □Applicable √Not applicable
           □Applicable √Not applicable
                   Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     □Applicable   √Not applicable
XVI. Commitments and contingencies
     √Applicable □Not applicable
     Important external commitments, nature and amount thereof as of the balance sheet dates
                                                                                 Unit: RMB Yuan
             Capital commitments                 June 30, 2026                  2025
     Signed but not paid                           1,055,000,016.09          1,512,446,398.43
            (1) Capital Commitment for the Project Located South of the 5th District Market in Futian
     Subdistrict, Yiwu City
            On April 30, 2026, the Company participated in the land listing auction organized by the
     Yiwu Bureau of Natural Resources and Planning, and successfully won the right to use the
     state-owned construction land for the plot located on the northeast side of the intersection of
     Shangcheng Avenue and Shangbo Road, Futian Sub-district, Yiwu City, at a transaction price
     of RMB 413 million. According to the resolution passed at the fifth meeting of the 10th board of
     directors held on April 28, 2026, the estimated total investment for the project is RMB 1.76
     billion, of which the land cost is RMB 426 million (including deed tax). Funding sources consist
     of the Company’s own funds and certain bank loans. As of June 30, 2026, the Company has
     paid related land payments of RMB 206.5 million.
            (2) Investment Commitment to Shangfu Chuangzhi Fund
            In 2017, the Company’s wholly-owned subsidiary Yiwu China Commodities City Equity
     Investment Co., Ltd. (“CCCEI”) and Shanghai Fuxing Industry Group Co., Ltd. (“Fuxing Group”)
     jointly established an industry fund Yiwu China Commodities City Fuxing Investment Center
     (Limited Partnership) (hereinafter referred to as the “FOF”). The FOF as a limited partner
     invested in 12 sub-funds including Yiwu Shangfu Chuangzhi Investment Center (Limited
     Partnership) (“Shangfu Chuangzhi Fund”). CCCEI has committed a capital contribution of RMB
     capital, with a paid-in capital of RMB 102.92 million and an unfunded commitment of RMB
     total shares, to jointly establish Yiwu China Commodities City Investment Management Co., Ltd.
     (hereinafter referred to as “CCCIM”). CCCIM acts as the general partner of the
     above-mentioned FOF and sub-funds. Fuxing made a capital contribution of 51% to and had
     control over CCCIM.
            The Shangfu Chuangzhi Fund has raised a total of RMB 823.36 million. As a limited partner,
     the FOF has committed and paid in RMB 205.84 million (including the aforementioned RMB
     another limited partner of the FOF). In addition, CCCEI has separately committed and paid in
     RMB 617.51 million as a limited partner in the Shangfu Chuangzhi Fund. All of the
     aforementioned contributions have been fully paid. Other than the above, neither the Group nor
     CCCEI has participated in the investments of other subsidiary funds under the FOF. Shangfu
     Chuangzhi Fund subsequently subscribed to the increased registered capital of Hubei Asset
     Management Co., Ltd. for RMB 820.54 million, holding 22.6667% of its equity. In 2019, 9 out of
     the 12 sub-funds mentioned above were cancelled.
            In 2018, during the follow-up management process CCCEI learned that Fuxing and its
     actual controller Zhu Yidong were suspected of criminal activities. The 22.667% equity held in
     Hubei Asset Management Co., Ltd. by Shangfu Chuangzhi Fund was frozen by the Second
     Intermediate People’s Court of Shanghai due to the funding source including contributions from
     Fuxing Group. As of the date of approval for the financial statements, the relevant equity was
     still frozen.
            As of the date when the financial statements were approved for release, the Group has not
     received any contribution notices other than the already contributed portions mentioned above,
     or any litigation notices involving the Group, CCCEI, the FOF, and the sub-funds.
                    Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            (3) Other Investment Commitments
            As of June 30, 2026, the Group had other investment commitments totaling RMB 382.8028
      million (December 31, 2025: RMB 336.7670 million).
      (1) Important contingencies on the balance sheet date
      √Applicable □Not applicable
                                                                                            Unit: RMB Yuan
      Item                                             June 30, 2026                       2025
      Contingent liabilities resulting from
      the guarantee provided externally
           According to relevant regulations, the Group is required to provide mortgage loan
      guarantees to the bank for the sale of commercial housing before the purchaser of the housing
      has completed the formalities for obtaining the property ownership certificate. The outstanding
      guarantee amount as of June 30, 2026 was RMB 4,086,827.78 (December 31, 2025: RMB
      ownership certificates and are thus little likely to incur losses. Therefore, the management
      believed that it was not necessary to make provision for the guarantees.
      (2)   The Company should also provide an explanation if there are no important or
         contingent matters that need to be disclosed:
      □Applicable √Not applicable
      □Applicable   √Not applicable
XVII. Matters after the balance sheet date
      □Applicable √Not applicable
      √Applicable □Not applicable
                                                                                                 Unit: RMB
      Profits or dividends to be distributed                                                548,355,922.60
      Profits or dividends announced through deliberation and approval                      548,355,922.60
      □Applicable √Not applicable
      □Applicable √Not applicable
XVIII. Other important matters
      (1) Retrospective restatement
      □Applicable √Not applicable
      (2) Prospective application
      □Applicable √Not applicable
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
           □Applicable √Not applicable
           (1)    Non-monetary asset exchange
           □Applicable √Not applicable
           (2)    Exchange of other assets
           □Applicable √Not applicable
           □Applicable √Not applicable
           □Applicable √Not applicable
           (1)    Determination basis and accounting policy of reporting divisions
           √Applicable □Not applicable
                The Company determines its reporting segments based on internal organizational structure,
           management requirements, internal reporting systems, and other relevant factors, with the
           business segments serving as the foundation for the determination of reporting segments.
           Performance evaluations are conducted separately for market operation services, trade service
           business, supporting service business, merchandise sales segment, and supporting real estate
           business. Assets and liabilities that are jointly used by various segments shall be allocated
           among the different segments according to their scale proportions.
           (2)    Financial information of reporting divisions
           √Applicable □Not applicable
                                                                                               Unit: RMB million
                                  Market      Comple       Trade     Supporti                   Set-offs
                                              mentary                              Product
            Item                 operatio                 service       ng                       among        Total
                                                real                                sales
                                    n          estate        s       services                   divisions
Revenue         from external
transactions
Among which: Revenue
generated from contracts          2,407.17    1,556.29     221.16        317.14     5,450.84                  9,952.60
with customers
Revenue from inter-division
transactions
Profits before tax                1,717.66      580.90      374.56         1.57         2.98                  2,677.67
Total assets                     55,467.20    1,465.54    8,280.24     1,714.36     4,571.42    28,319.44    43,179.32
Total liabilities                32,889.66      427.31    2,629.84     1,435.37     4,409.21    20,801.50    20,989.89
Capital expenditures              3,576.36       33.72       85.43        26.70         0.79                  3,723.00
Long-term equity investment in
joint ventures and associates
                               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
               (3)    If the Company does not have reporting divisions or is unable to disclose the total
                  assets and total liabilities of each division, please explain
               □Applicable √Not applicable
               (4)    Other notes
               □Applicable √Not applicable
               □Applicable √Not applicable
               □Applicable       √Not applicable
        XIX. Notes to Main Items in the Financial Statements of the Parent Company
               (1) Disclosure based on account age
               √Applicable □Not applicable
                                                                                                                         Unit: RMB
                             Account age                                 Closing book balance               Opening book balance
               Within one year (including one year)                               6,733,960.85                        7,138,901.32
               Of which: within one year                                          6,733,960.85                        7,138,901.32
               Over 3 years                                                       1,423,112.54                        1,474,184.11
                                 Total                                            8,158,723.85                        8,669,297.03
               (2) Categorized disclosure based on the bad debt provision method
               √Applicable □Not applicable
                                                                                                              Unit: RMB
                                    Closing balance                                             Opening balance
                                          Bad debt                                                   Bad debt
                       Book balance                                                Book balance
                                          provision                                                  provision
    Category
                                      Propor
                                                              Provisi   Book value          Propor
                                                                                                             Provisi Book value
                                                                 on                                                           on
                        Amount         tion     Amount                                  Amount       tion     Amount
                                                               ratio                                                        ratio
                                       (%)                                                           (%)
                                                                (%)                                                          (%)
Accounts
receivable       for
which bad debt         8,158,723.85 100.00     1,810,479.27    22.19     6,348,244.58 8,669,297.03 100.00    1,555,038.65   17.94   7,114,258.38
provision is made
by group
Among them:
Provision for bad
debts based on
the combination of     8,158,723.85 100.00     1,810,479.27    22.19     6,348,244.58 8,669,297.03 100.00    1,555,038.65   17.94   7,114,258.38
credit          risk
characteristics
       Total           8,158,723.85     /      1,810,479.27      /       6,348,244.58 8,669,297.03    /      1,555,038.65     /     7,114,258.38
               Accounts receivable for which bad debt provision is made individually:
               □Applicable √Not applicable
               Explanation for making bad debt provision for accounts receivable by group:
               √Applicable □Not applicable
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Combined provision items: combined provision for bad debts based on credit risk
characteristics
                                                                                                  Unit: RMB
                                                                    Closing balance
                 Name                                                  Bad debt               Provision ratio
                                             Book balance
                                                                       provision                   (%)
Provision for bad debts based on the
combination of credit risk                 8,158,723.85                 1,810,479.27                    22.19
characteristics
                 Total                     8,158,723.85                 1,810,479.27                    22.19
Description of combined provision for bad debts:
□Applicable √Not applicable
Provision for bad debts based on the general model of expected credit losses
√Applicable □Not applicable
                                                                                                   Unit: RMB
                                   Stage 1              Stage 2               Stage 3
                                                    Expected credit       Expected credit
                               Expected credit
                                                   loss in the entire    loss in the entire
    Bad debt provision           loss in the                                                        Total
                                                    duration (credit      duration (credit
                                 coming 12
                                                     has not been            has been
                                   months
                                                       impaired)             impaired)
Balance on January 1,
Movements for the current
period
Provision made in the
current period
Balance on June 30, 2026          1,810,479.27                                                    1,810,479.27
Classification basis and bad debt provision ratio for each stage
None
Explanation of significant changes in the book balance of accounts receivable with changes in
loss provisions in this period:
□Applicable √Not applicable
(3) Provisions for bad debts
√Applicable □Not applicable
                                                                                                   Unit: RMB
                                                  Amount of change during the
                               Opening                   current period
      Category                                                                                Closing balance
                               balance                            Recovery or
                                                  Provision
                                                                    reversal
Bad debt provision for
accounts receivable
        Total                 1,555,038.65         255,440.62                          -        1,810,479.27
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes
None
(4) Accounts receivable actually written off during the current period
□Applicable √Not applicable
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
         Information of write-off of important accounts receivable
         □Applicable √Not applicable
         Description of accounts receivable written off:
         □Applicable √Not applicable
         (5) Five debtors with the highest closing balances of accounts receivable and contract
             assets
         √Applicable  □Not applicable
                                                                                      Unit: RMB
                                                                          Closing         Proportion in the
                                          Closing         Closing                            total closing       Closing
                                                                        balance of
                                        balance of       balance of                           balance of       balance of
             Debtor                                                      accounts
                                         accounts         contract
                                                                      receivable and
                                                                                               accounts         bad debt
                                                           assets                          receivable and
                                        receivable                    contract assets    contract assets (%)
                                                                                                                provision
Zhejiang Zheli Football Industry
Development Co., Ltd.
Shenzhen      Sanhang     General
Aviation Co., Ltd.
Yiwu Aoxiang Stationery Co., Ltd.        388,354.00               -     388,354.00                    4.76      22,313.29
Zhejiang Chouzhou Professional
Basketball Club Co., Ltd.
Yiwu       Fusheng        Cultural
Communication Co., Ltd.
               Total                  2,083,534.30                -   2,083,534.30                  25.54      119,711.67
         Other notes
         None
         Other notes:
         □Applicable √Not applicable
         Presentation of items
         √Applicable □Not applicable
                                                                                                    Unit: RMB
                       Item                          Closing balance                    Opening balance
         Other receivables                                   72,918,986.21                      68,315,773.58
                      Total                                  72,918,986.21                      68,315,773.58
         Other notes:
         □Applicable √Not applicable
         Interest receivable
         (1) Classification of interest receivable
         □Applicable √Not applicable
         (2) Significant overdue interest
         □Applicable √Not applicable
         (3) Categorized disclosure based on the bad debt provision method
         □Applicable √Not applicable
         Accounts receivable for which bad debt provision is made individually:
         □Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Explanation for making bad debt provision for accounts receivable individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
(4) Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Interest receivable actually written off in this period
□Applicable √Not applicable
Important interest receivable written off among them
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Dividend receivable
(1) Dividend receivable
□Applicable √Not applicable
(2) Important dividend receivable with an account age longer than 1 year
□Applicable √Not applicable
(3) Categorized disclosure based on the bad debt provision method
□Applicable √Not applicable
Accounts receivable for which bad debt provision is made individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable individually:
□Applicable √Not applicable
Explanation for making bad debt provision for accounts receivable by group:
□Applicable √Not applicable
(4) Provision for bad debts based on the general model of expected credit losses
□Applicable √Not applicable
               Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
(5) Provisions for bad debts
□Applicable √Not applicable
In which the recovered or reversed amount is important:
□Applicable √Not applicable
Other notes:
None
(6) Dividends receivable actually written off in this period
□Applicable √Not applicable
Important dividend receivables written off among them
□Applicable √Not applicable
Explanation of writing-off:
□Applicable √Not applicable
Other notes:
□Applicable √Not applicable
Other receivables
(1) Disclosure based on account age
√Applicable □Not applicable
                                                                                            Unit: RMB
         Account age                      Closing book balance                Opening book balance
Within one year (including one
year)
Of which: within one year                             72,198,415.20                          66,786,891.36
Over 3 years                                             167,045.31                              51,731.70
Bad debt provision for other
                                                           -43,682.30                             -43,682.30
receivables
             Total                                    72,918,986.21                          68,315,773.58
(2) Classification based on the nature of accounts
√Applicable □Not applicable
                                                                                            Unit: RMB
     Nature of receivable                 Closing book balance                Opening book balance
Withholdings, deposit and
margin
Reserve                                                  302,600.00                             529,123.00
            Total                                     72,962,668.51                          68,359,455.88
(3) Bad debt provision
√Applicable □Not applicable
                                                                                                  Unit: RMB
                                Stage 1              Stage 2                   Stage 3
                             Expected credit   Expected credit loss in   Expected credit loss
  Bad debt provision           loss in the       the entire duration     in the entire duration      Total
                               coming 12        (credit has not been        (credit has been
                                 months               impaired)                 impaired)
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
Balance on January 1,
Movements for the current
period
Provision made in the
                                          -                                                         -
current period
Balance on June 30,
Classification basis and bad debt provision ratio for each stage
None
Significant changes in the book balance of other receivables with changes in loss provisions:
□Applicable √Not applicable
Basis for the bad debt provision made in the current period and for assessing whether the credit
risk of financial instruments has increased significantly:
□Applicable √Not applicable
(4) Provisions for bad debts
√Applicable □Not applicable
                                                                                            Unit: RMB
                                           Amount of change during the current
                             Opening                     period
       Category                                                                       Closing balance
                             balance                            Recovery or
                                             Provision
                                                                 reversal
Bad debt provision for
other receivables
          Total              43,682.30                       -                    -         43,682.30
Among them, important recovered or reversed amounts:
□Applicable √Not applicable
Other notes
None
(5) Other receivables actually written off during the current period
□Applicable √Not applicable
Of which, important write-offs of other receivables:
□Applicable √Not applicable
Notes on the write-off of other receivables:
□Applicable √Not applicable
                         Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
            (6) Other receivables from the five debtors with highest closing balance
            √Applicable □Not applicable
                                                                                                   Unit: RMB
                                                                                                            Closing
                                                              Weight in the total
                                                                                                           balance
                                                              closing balance of Nature of       Account
                Debtor                     Closing balance                                                  of bad
                                                              other receivables receivable         age
                                                                                                             debt
                                                                     (%)
                                                                                                           provision
Yiwu     China   Commodities        City                                                        Within 1
Information Technology Co., Ltd.                                                                year
                                                                                                Within 1
Jiangdong Sub-district Office, Yiwu City      2,831,845.00                  3.88                                    -
                                                                                                year
                                                                                  Withholdings,
Yiwu Market Development Group Co.,                                                              Within 1
Ltd.                                                                                            year
                                                                                  margin
Yiwu     Power     Transmission    and                                                          Within 1
Transformation Engineering Co., Ltd.                                                            year
Yiwu     China     Commodities    City                                                          Within 1
Advertising Co., Ltd.                                                                           year
                  Total                      25,951,388.50                 35.57        /           /               -
            (7) Reported as other receivables due to centralized fund management
            □Applicable √Not applicable
            Other notes:
            □Applicable √Not applicable
                                        Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
 √Applicable □Not applicable
                                                                                                                                  Unit: RMB
                                                        Closing balance                                    Opening balance
                 Item                                     Impairment                                         Impairment
                                        Book balance                        Book value     Book balance                       Book value
                                                           provision                                          provision
 Investment in subsidiaries            5,411,705,076.36                - 5,411,705,076.36 5,046,275,076.36               - 5,046,275,076.36
 Investment in associates and joint
 ventures
                Total                 10,753,359,444.76                     - 10,753,359,444.76 10,423,742,617.62                       - 10,423,742,617.62
 (1) Investment in subsidiaries
 √Applicable □Not applicable
                                                                                                                                                  Unit: RMB
                                                                                                     Change in the
                                                                               Opening balance                                                    Closing balance of
                                                   Opening balance (book                             current period       Closing balance (book
                   Investee                               value).
                                                                                of impairment
                                                                                                                                  value)
                                                                                                                                                     impairment
                                                                                   provision           Additional                                     provisions
                                                                                                      investment
Yiwu China Commodities City Equity Investment
Co., Ltd.
Yiwu Shangbo Yuncang Enterprise Management
Co., Ltd.
Zhejiang Xunchi Digital Technology Co., Ltd.              444,552,181.40                         -                    -       444,552,181.40                       -
Yiwu Shangcheng Gonglian Enterprise
Management Co., Ltd.
Zhejiang China Commodities City Group
Commercial Factoring Co., Ltd.
Yiwu China Commodities City Big Data Co., Ltd.            106,073,169.94                         -                    -       106,073,169.94                       -
Yiwu China Commodities City Import and Export
Co., Ltd.
Yiwu China Commodities City Logistics and
Warehousing Co., Ltd.
Yiwu China Commodities City Overseas
Investment and Development Co., Ltd.
                                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
    Yiwu China Commodities City Supply Chain
    Management Co., Ltd.
    Yiwu China Commodities City Tourism
    Development Co., Ltd.
    Zhejiang Huajie Investment and Development
    Co., Ltd.
    Yiwu Comprehensive Bonded Zone Operation
    and Management Co., Ltd.
    Yiwu China Commodities City Information
    Technology Co., Ltd.
    Hangzhou Shangbo Nanxing Property Co., Ltd.              50,000,000.00                        -     350,000,000.00        400,000,000.00                 -
    Yiwu China Commodities City Exhibition Co.,
    Ltd.
    Zhejiang Yindu Hotel Management Co., Ltd.                16,023,261.89                        -                      -     16,023,261.89                 -
    Yiwu China Commodities City Assets Operation
    and Management Co., Ltd.
    Yiwu China Commodities City Research Institute
    Co., Ltd.
    Yiwu Yundailu Data Technology Co., Ltd.                 277,300,000.00                        -      12,000,000.00         289,300,000.00                -
    Zhejiang Think Tank Co., Ltd.                             5,577,759.29                        -       1,830,000.00           7,407,759.29                -
                         Total                            5,046,275,076.36                        -     365,430,000.00       5,411,705,076.36                -
     (2) Investment in associates and joint ventures
     √Applicable □Not applicable
                                                                                                                                                Unit: RMB
                                                                                         Change in the current period
                                                                   Opening                     Investment                                                Closing
                                                                                                                   Declared
               Investment                   Opening balance       balance of                 gains or losses                        Closing balance    balance of
                                                                                 Decrease in                     distribution of
                  Unit                       (Book value)        impairment                    recognized                            (Book value)     impairment
                                                                                 investment                     cash dividends
                                                                  provisions                  with the equity                                           provision
                                                                                                  method            or profits
Yiwu Shanglv                                  495,087,165.08                                  -   24,817,793.64                 -    519,904,958.72
Yiwu Rongshang Property Co., Ltd.              65,642,099.07                                  -               -                 -     65,642,099.07
                                           Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                                                                         Change in the current period
                                                                   Opening                      Investment                                                    Closing
                                                                                                                   Declared
               Investment                  Opening balance        balance of                  gains or losses                           Closing balance     balance of
                                                                                 Decrease in                     distribution of
                  Unit                      (Book value)         impairment                     recognized                               (Book value)      impairment
                                                                                 investment                     cash dividends
                                                                  provisions                  with the equity                                                provision
                                                                                                  method            or profits
Yiwu Chuangcheng Property Co., Ltd.           22,432,434.56                                 -     686,036.15                     -        23,118,470.71
Yiwu Guoshen Shangbo Property Co., Ltd.      230,224,100.35                                 -    -198,735.59 122,500,000.00              107,525,364.76
Other                                         22,329,847.63                                 - -2,077,706.30                      -        20,252,141.33
Sub-total                                    835,715,646.69                                 - 23,227,387.90 122,500,000.00               736,443,034.59
Yiwu Huishang Redbud Phase II Investment
Partnership (limited partnership)
Huishang Micro-finance                        80,417,977.97                                -        450,350.41                  -          80,868,328.38
Chouzhou Financial Lease                     616,776,809.63                                -     74,742,545.92                  -         691,519,355.55
Pujiang Lvgu Property Co., Ltd.              417,546,857.51                                -        731,079.98                  -         418,277,937.49
CCCP                                       3,010,405,181.86                                -       -565,903.49                  -       3,009,839,278.37
Zhijie Yuangang                              150,735,923.03                                -     -2,229,843.83                  -         148,506,079.20
Other                                        123,425,773.58                                -       -562,712.40                  -         122,863,061.18
Sub-total                                  4,541,751,894.57                     5,256,302.57     72,259,439.24       3,543,697.43       4,605,211,333.81
                     Total                 5,377,467,541.26                     5,256,302.57     95,486,827.14     126,043,697.43       5,341,654,368.40
     (3) Impairment testing of long-term equity investments
     □Applicable √Not applicable
     Other notes:
     □Applicable √Not applicable
                      Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
     (1) Overview of operating revenue and operating cost
     √Applicable □Not applicable
                                                                                                                 Unit: RMB
                                    Amount in the current period                           Amount in the previous period
               Item
                                    Revenue          Cost of sales                          Revenue          Cost of sales
     Main business              3,754,525,392.67 1,212,473,500.44                       2,310,224,197.36 522,622,745.89
     Other
     businesses
           Total                3,957,698,815.08           1,285,258,324.15             2,548,219,329.59      601,142,197.45
     (2) Breakdown information of operating revenue and operating costs
     √Applicable □Not applicable
                                                                                                          Unit: RMB
                                                                                              Total
                  Classified by type of contract
                                                                              Operating revenue     Operating cost
     Types of goods
          The use of shops in the China Commodities
     City markets and the supporting services for                               2,368,268,373.95              538,382,228.65
     operation
          Hotel accommodation and catering services                               135,014,960.47              131,440,657.20
          Lease                                                                   200,000,444.82              172,901,601.84
          Other services                                                        1,254,415,035.84              442,533,836.46
     Classified by business area
          Chinese Mainland                                                      3,957,698,815.08            1,285,258,324.15
     Classified by contract term
          Recognizing revenue at a certain point in
     time
          Recognizing revenue during a certain period
     of time
                            Total                                               3,957,698,815.08            1,285,258,324.15
     Other notes
     □Applicable       √Not applicable
     (3) Contract performance obligations
     √Applicable □Not applicable
                                                                                                                        Unit: RMB
                                                                                                                             The types of
                                                                                             Whether
                                                                        Nature of the                    The expected           quality
                                                                                                the
                      Time for fulfilling                              goods that the                     refunds to          assurance
                                             Important payment                              Company
       Item             performance                                      Company                          customers         provided by the
                                                   terms                                   is the main
                         obligations                                    promises to                      borne by the        Company and
                                                                                           responsible
                                                                          transfer                         Company              related
                                                                                              person
                                                                                                                              obligations
                                            Advance payment or
                      When delivering       right    to    receive    Trade      retail
Sales of goods                                                                                Yes                       -   No
                      goods                 payment           after   goods
                                            delivery of goods
The use of shops in
the China                                   Part of the deposit       Shop use right /
Commodities City      When providing        will be collected in      supporting
                                                                                              Yes                       -   No
markets and the       services              advance, and the          services     for
supporting services                         remaining amount will     operation
for operation                               be collected upon
Hotel                                       completion of the         Hotel
                      When providing
accommodation                               performance               accommodation           Yes                       -   No
                      services
business                                                              service
                    Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                                      Collection      upon
Hotel catering      When providing
                                      completion          of   Catering services          Yes                 -   No
business            services
                                      performance
                                      Advance receipts or
                                      the right to receive
                    When delivering   payment         upon     Real           estate
Real estate sales                                                                         Yes                 -   No
                    goods             transfer of control      projects
                                      over the relevant real
                                      estate
       Total               /                    /                         /                /                  -        /
      (4) Explanation of allocation to remaining contract performance obligations
      □Applicable √Not applicable
      (5) Significant contract changes or significant transaction price adjustments
      □Applicable √Not applicable
      Other notes:
          The revenue recognized during the current period that was included in the opening carrying
      amount of contract liabilities amounted to RMB 398,679,184.72.
      √Applicable □Not applicable
                                                                                                               Unit: RMB
                                                                          Amount in the                 Amount in the
                               Item
                                                                          current period               previous period
      Income from long-term equity investments
                                                                                                -         14,700,000.00
      accounted for under the cost method
      Income from long-term equity investment
      calculated with the equity method
      Investment income from disposal of
      held-for-trading financial assets
                            Total                                             102,006,265.82             133,842,221.97
    Other notes:
    None
    □Applicable √Not applicable
XX. Supplementary information
    √Applicable □Not applicable
                                                                                                              Unit: RMB
                                  Item                                                   Amount            Description
      Non-current asset disposal gains and losses, including
      the offsetting portion of the provision for impairment of                         2,592,703.62
      assets
      Government grants that are recognized in the current
      profit or loss, excluding the government grants that are
      closely related to the normal operation of the Company
      and provided in a fixed amount or quantity and that have
      a continuous impact on the Company's gains and losses
      according to the national policies and certain standards
      Except for effective hedging business related to the                                              Mainly due to
      normal operation of the Company, the fair value gains                                             the changes in
              Zhejiang China Commodities City Group Co., Ltd. Semi-Annual Report for 2026
                             Item                                    Amount               Description
and losses arising from the holding of financial assets                               fair value of held
and financial liabilities by non-financial enterprises, as                            trading financial
well as the gains and losses arising from the disposal of                             assets
financial assets and financial liabilities
Cash occupation fees charged from non-financial
enterprises that are recognized in the current profit or           12,281,917.98
loss
Profits and losses arising from external entrusted loans            1,251,786.16
Net income from other non-operating activities                      1,959,021.11
Less: effect of income tax                                         47,800,595.93
     Effect of non-controlling interest (after-tax)                   559,815.30
                            Total                                 156,046,827.41
For companies that recognize items not listed in the Explanatory Announcement No. 1 on
Information Disclosure of Companies Issuing Securities to the Public - Non-recurring Profit and
Loss as non-recurring profit and loss items with significant amounts, and for companies that
define non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on
Information Disclosure of Companies Issuing Securities to the Public - Non-recurring Profit and
Loss items as recurring profit and loss items, the reasons should be explained.
□Applicable √Not applicable
Other notes
□Applicable   √Not applicable
√Applicable □Not applicable
                                                Weighted                          EPS
    Profits in the reporting period
                                            average ROE (%)          Basic EPS           Diluted EPS
Net profits attributable to common
shareholders of the Company
Net profits attributable to common
shareholders of the Company after
deducting non-recurring gains and
losses
□Applicable √Not applicable
□Applicable   √Not applicable
                                                          Legal Representative: CHEN Dezhang
                        Date of approval by the Board of Directors for release: August 26, 2026.
Amendment
□Applicable   √Not applicable