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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
About the Report Basis of Preparation
The Report is prepared in accordance with the Self-Regulatory Guidelines No. 17 for
This is the fifth Sustainability Report and the 16th ESG related information report released by Companies Listed on Shenzhen Stock Exchange—Sustainability Report (For Trial
KingNet Network Co. Ltd. It aims to disclose to all stakeholders the principles management Implementation) (hereinafter referred to as the “Guidelines”) and the Shenzhen Stock
methods efforts and achievements of the Company in sustainable development topics during Exchange Guidelines No. 1 on Self-Regulation of Listed Companies—Standardised Operation
its operation. of Companies Listed on the Main Board (revised in 2025) and with reference to the GRI
Sustainability Reporting Standards 2021 (hereinafter referred to as “GRI Standards”) of the
Global Sustainability Standards Board (GSSB).Scope of the Report
Data Description
Scope of organisation: The Report covers KingNet Network Co. Ltd. (KingNet Network) and its
subsidiaries. Unless otherwise specified the scope hereof remains consistent with that in the The data and cases in the Report are derived from official records of actual operation of the
consolidated financial statements of KingNet Network (stock code: SZ.002517) over the same Company. The financial data in the Report are all in RMB. In case of any discrepancy with the
period. The full and short names of the Company and subsidiaries involved in the Report are Company’s annual financial report the annual financial report shall prevail.as follows.Principles of Preparation
Full Name Short Name
KingNet Network Co. Ltd. KingNet Network the Company or we Materiality
Shanghai Doushi Network Technology Co. Ltd. Shanghai Doushi The Company has identified material topics related to its operation that all stakeholders are
concerned about as the highlights of the Report. The presentation of material topics in the
Shanghai KingNet Network Technology Co. Ltd. Shanghai KingNet Report focuses on the characteristics of the industry in which the Company operates and the
nature of its business activities. See the “Materiality Assessment of Sustainability Topics” in the
Shanghai KingNet Software Technology Co. Ltd. Shanghai KingNet Software Report for the process and results of the materiality assessment of topics.Zhejiang Shenghe Network Technology Co. Ltd. Zhejiang Shenghe
Accuracy
Time range: The reporting period is from 1 January 2025 to 31 December 2025. Unless The Report ensures that the information is as accurate as possible. The data standards
otherwise stated the data in the Report are those within this period. calculation basis and assumption conditions have been explained in the quantitative
information to guarantee that the calculation error range does not mislead the stakeholders.Release cycle: This is an annual report. The previous report was the 2024 Sustainability / ESG Quantitative information and notes are detailed in the “ESG Data Table and Notes” section of
Report. the Report.
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
* Balance Verifiability
The Report reflects objective and factual information and impartially discloses both positive The cases and data in the Report come from the original records or financial reports of
and negative information related to the Company. The Company found no negative events that the Company’s actual operations. The Company has adopted the HiESG performance
should have been disclosed but were not disclosed during the reporting period. management system to administrate its quantitative sustainability performance over the years
so that the source of the disclosed data and the calculation process can be traced and support
C* larity external assurance inspections.The Report is published in simplified Chinese and English. The Report contains information
such as tables diagrams and other information as a supplement to facilitate a better
understanding by stakeholders. To facilitate faster access to information for stakeholders the External Audit
Report provides a table of contents and a benchmarking index of ESG standards.SGS-CSTC Standard Technical Services Co. Ltd. (SGS) independently audited the data inQ* uantification the Report relevant policies and management systems. See “Third-Party Independent AuditReport” for the details of the Audit Report.The Report discloses key quantitative performance indicators and where possible historical data.* Comparability Access to the Report
The statistics and disclosure of the same quantitative indicators in the Report are consistent
from one reporting period to another. If there are any changes in the data collection The Report is published in electronic form on the official websites of the Company SZSEand Cninfo.measurement or calculation methods the relevant data are retrospectively adjusted with
explanations of the adjustments and their reasons provided in the notes to the Report so that Contact Us
stakeholders can conduct meaningful analyses and assess the trend of the Company’s ESG
performance level.To continuously enhance our efforts in sustainability and ESG (Environmental Social and
I* ntegrity Governance) information disclosure we welcome your feedback and suggestions. Please scan
the QR code to provide your comments on this report or feel free to contact us through the
The scope of the disclosures shall be in line with that of the Company’s consolidated financial statements. following means:
T* imeliness
Address: 15/F Block A Expo Yaohua Business Centre 899 Yaohua Road
This Report is an annual report. The Company endeavours to publish the Report as soon as Pudong New Area Shanghai
possible after the end of the reporting year to provide stakeholders with timely information for
decision-making. Email: csr@kingnet.com
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
Chairman’s Statement
The year 2025 marked the final year of the Company’s exhibition area of the 30th United Nations Climate Change Strengthening governance foundations through Party
2023–2025 Sustainable Development Plan. Over the past Conference (COP30) demonstrating to the international building leadership:We integrated Party building withthree years we have adhered to the philosophy of “Play with community our exploration of using digital tools to support corporate culture and operations under the principle ofBuff” driven by the K-Power of K Cohesion K Strength K biodiversity conservation. “Red Party-building Leading Orange KingNet” and wereProtection and K Gravitation to create a virtuous cycle of recognised as a “National May Fourth Red Flag Youthresponsible value. We have steadily advanced sustainability Driving value growth through an innovation engine:We League Branch” and an outstanding Party building brand
actions across environmental social and governance focused on our core gaming business and developed among internet enterprises in Shanghai. We strictly
dimensions fully achieved our strategic objectives and benchmark titles such as Three Kingdoms: The World Unites standardised our operations gave full play to the role of
realised a complete closed loop from commitment to and Dragon Nest. We contributed to building an AI ecosystem independent Directors—who accounted for 44.44% of the
performance. by launching the full-process AI development platform SOON Board of Directors and 100% of the Audit Committee—
the AI trendy toy brand Warm Star Valley Dream Journey and added employee representative Directors to effectively
During the year our sustainability performance received the 3D AI intelligent companion application EVE and the AI facilitate employee participation in democratic decision-
strong recognition from the capital market and professional glasses product DPVR AI Glasses. We cultivated proprietary making management and supervision. We adhered to
institutions: The Company was awarded a “B” rating in the platform systems by developing and operating the digital asset transparent disclosure achieving an “A” rating in information
CDP Climate Change Questionnaire; an S&P CSA score of platform “KingNet Chain” and the vertical gaming platform “996 disclosure from the SZSE. We recorded zero data security
41; and a low-risk rating from Morningstar Sustainalytics all Game Box”. We expanded overseas with multiple games incidents zero cases of commercial bribery or corruption
of which are at a leading level within the domestic gaming such as War of Angels released in Hong Kong Macao and and zero instances of non-compl iant employment
industry. These honours not only affirm our past efforts but Taiwan as well as Japan South Korea and Southeast Asia. safeguarding our steady and long-term development through
also inspire our future journey. We also leveraged the positive value of gaming with IPs such compliant operations.as Crafts and Qubits and Seasonal Voice telling Chinese
Writing a zero-carbon answer with green code:We stories to the world. Advancing towards a bet ter fu ture wi th long-
consistently integrate green and low-carbon principles termism:During the reporting period we issued the KingNet
throughout our entire operational value chain. In 2025 Delivering KingNet’s warmth through public welfare:We Network Sustainable Development Plan (2026–2030) actionwe achieved our operational carbon neutrality target as upgraded the “Liuying Volunteer" service brand established framework upgrading the K Action to K Pro Action andscheduled and will continue to advance our medium- and an ethnic minority volunteer service team and built a iterating our sustainability vision to “Play with Buff Better” aslong-term goals of “reducing emissions across the full value comprehensive volunteer service system. We deepened our we move towards a more sustainable next five years.chain by 50% by 2030 (compared with 2025) and achieving engagement in philanthropy with initiatives such as “KingNetfull value chain carbon neutrality by 2035”. We actively Crafts and Qubits” revitalising intangible cultural heritage Looking ahead KingNet Network will continue to uphold
participated in green electricity certificate trading issued the “Coloured Plateau” inspiring artistic creativity and “Haisi the faith that love creates value fulfil our mission of “joyK Office Action Guidelines and incorporated environmental New Space” incubating outstanding theatre works while everywhere” connect the world through digital technology
requirements into supplier contracts thereby promoting our support for the Hong Kong Tai Po fire demonstrated our give back to society through responsible practices and workgreen transformation of the economy and society through our sense of responsibility. Since 2020 the “KingNet’s Love Public together with all stakeholders towards a better future.own actions. The sustainability mini-game Migratory Bird Hop Welfare” programme has donated materials worth RMB 17.89
developed by the Company was showcased in the thematic million benefiting over 49000 people.
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
Sustainability Highlights
Economic Performance Environmental Performance Social Performance
Revenue
5324.98 Purchase R&D investment RMB million
Up 3591green electricity certificates RMB595million
4.04% Volunteer service
Total profit 2535hours
1981 Total GHG emissions (Scope 1 + Scope 2)RMB million
Up 77.70tCO2e Employee volunteer service
18.38% participation about28000times
Net profit attributable to
shareholders of the listed company GHG emission intensity A total of
1904 (Scope 1 + Scope 2) per unit revenue million 0.01 18public welfare projects tCO2e
Up with an investment of
16.90% RMB11989.6 thousand
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
Recognitions in 2025
In 2025 KingNet Network was repeatedly recognised by the industry professional institutions and the capital market for its excellent performance in sustainable development management.CSI ESG Rating: AAA CNI ESG Rating: AA Wind ESG Rating: AA
China Securities Shenzhen Securities Wind Information Co. Ltd.Index Co. Ltd. Information Company Limited
Morningstar
Sustainalytics: Low S&P CSA ESG CDP Rating: B
Score: 41
Risk (14.59) Carbon Disclosure
S&P Global
Morningstar Project (CDP)
SynTao Green Finance SSI ESG Rating: AA
Rating: A Leading Chinese CCXGF ESG Rating: AA
Enterprise in ESG China Chengxin Green Sino-Securities Index
Finance Technology Information Service SynTao Green Finance (Shanghai) Co. Ltd.Consulting Co. Ltd. (Beijing) Co. Ltd.
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
About KingNet Network
General Information on KingNet Network
Company Profile
KingNet Network Co. Ltd. (SZ.002517) is a well-known Chinese English 恺英网络股份有限公司 KINGNET NETWORK CO. LTD.name name
listed online gaming company in China. Its core business
covers the R&D operation and publishing of mobile and web
games as well as the operation of web gaming platforms Shanghai KingNet Network Technology Co. Ltd.and mobile application distribution platforms. Meanwhile it Headquarters Shanghai Principal
(“Shanghai KingNet”)
has established a long-term strategic presence in the smart site subsidiaries Zhejiang Shenghe Network Technology Co. Ltd.technology sector and is actively developing its overseas (“Zhejiang Shenghe”)
business to reach a broader user base.R&D operation and publishing of mobile and web games
The Company persists in focusing on the main business Main Operation of web game platforms and mobile application distribution platforms
of developing games as its core strategy. It follows the business (XY Game Platform KingNet Cloud Games)
principle of creating quality games and operates four core
business systems including R&D publishing investment +
IP and user platforms to create game products that deliver Retro-themed games
an ultimate user experience. The Company consistently Revenue RMB5325 millionupholds the principle of “providing higher quality and better Original Legends War of Angels Dragon Nestservice” placing user value at the core of its operations. The Open World Ruler of the Land
Company is dedicated to continuously providing users with
Innovative premium games
quality content and services as well as a fulfilling gaming
experience striving to become an outstanding listed online Main Gundam Battle Project Ultraman Soul Land: Total
products assets
game company. RMB13073 millionLegend of Exorcism Time Raiders: The
Beginning Lord of Nazarick Sword and Fairy:
A New Beginning The New Heaven Sword and
Dragon Saber Monster GO! Gods’ Calamity: Total
Shadow Princess Three Kingdoms: The World number
of
Unites 2248employees
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Business Areas and Value Chain R&D Strength
Blue Flying
Four Business Systems with “Games” at the Core Gundam King Moon Bird
Studio Studio
Studio Studio
Investment Other
Publishing Genie Arc Light Dominator+ projectStudio Studio Studio
IP teams
Investment Layout
User
R&D
Platforms Strategic and Key Invested Enterprises
Shenzhen Ultimate Dreality Network
Natural Select (Shenzhen) AI Co. Ltd. Technology Co. Ltd.Main Products: EVE Elys Main Products:Singularity Saga
Hangzhou Jiyi AI Technology Co. Ltd. Lexiang Technology Co. Ltd. (DPVR)
Main Products:One-stop AI Game Main Products: VR hardware
Creation Platform SOON devices AI glasses
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Materiality Assessment of
Sustainability Topics Considerations for KingNet Network’s 2025 Materiality AssessmentAspect Definition Dimensions of Materiality Analysis
Materiality Assessment
In accordance with the SZSE’s Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Whether the Company’s
Stock Exchange—Sustainability Report (For Trial Implementation) and with reference to SZSE’s performance on the relevant topic * Likelihood of impactImpact
Self-Regulatory Guidelines No. 3 for Companies Listed on Shenzhen Stock Exchange—Preparation may have actual or potential * Scale scope and irremediability Materiality significant impacts on the economy of the impact
of Sustainability Reports (2026 Revision) and the Guidelines for Sustainable Development of Listed society and the environment.Companies issued by the China Association for Public Companies the Company determined the
factors considered in the materiality analysis based on the principle of “double materiality” and
carried out the identification assessment prioritisation and reporting of material topics.Whether the topic is expected to have a
During the detailed assessment process the Company established internal and external expert significant impact in the short medium
groups and based on the context of its activities and business relationships carried out topic Financial or long term on the Company’s business * Likelihood of financial implications
identification and selection through benchmarking against relevant standards analysis of the latest Materiality model operations development strategy * Degree of financial implications
policies and peer comparison. The actual and potential impacts risks and opportunities associated financial position operating results cash
with each topic were evaluated to determine their impact materiality and financial materiality and flow financing methods and cost.targeted management measures were implemented. At the stage of this Report the Company
reviewed and approved the results of the materiality analysis of topics.KingNet Network’s 2025 Topic Materiality Assessment Process
Step 1 Step 2 Step 3 Step 4
Understand the context of the
Company’s activities and Develop a list of topics Assess and validate topic materiality Report and
business relationships manage topics
Understand the Company’s Through standard Impact materiality assessment (Scoring range: 0–10): Following review and
activities and business benchmarking policy Through questionnaire surveys collect the level of concern from key affected stakeholders for each topic. Combined with expert judgement conduct assessment from two dimensions—likelihood of impact and degree of impact—to form the approval by the Board relationships. analysis and peer
Understand the external comparison identify and results of the impact materiality assessment.of Directors focus on
disclosing the highly
operating environment. screen sustainability Financial materiality assessment (Scoring range: 0–10): material topics for
Identify key affected topics relevant to the Through questionnaire surveys communicate with senior management and finance-related employees. With reference to 2025 in this Report.stakeholders including Company and define the expert opinions and industry consensus and in conjunction with the Company’s internal sustainability strategy conduct
shareholders and boundaries and analyse assessment from two dimensions—likelihood of financial implications and degree of financial implications—to form
Incorporate material
investors government the actual and potential the results of the financial materiality assessment. Among them when assessing the "degree of financial impact" the
topics into key
and regulatory authorities impacts risks and company combines internal financial data and operating conditions etc. to analyze the potential impact of sustainable
priorities of the
users suppliers industry opportunities associated development-related risks and opportunities on the company's current and expected financial status operating results
sustainability plan.organisations communities with these topics. and cash flow.and employees. Topics that receive a score above 5 in either dimension are considered material and are consolidated into a topic materiality matrix.
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List of Topics
In the process of identifying material topics for 2025 KingNet Network fully considered the following five factors identified and selected 19 topics based on the Company’s actual operations and
analysed the impact risks and opportunities of each topic.KingNet Network’s 2025 Topic Pool
The Guidelines GRI Standards International Sustainability Standards Board (ISSB) IFRSS1 General Requirements for Disclosure of Sustainability-related Financial Information (“IFRS Environmental (3 topics)ESG Standards S1”) International Financial Reporting Sustainability Disclosure Standard 2 - Climate-Related
Disclosures (“IFRS S2”) Sustainability Accounting Standards Board (SASB) Sustainability Climate response Green operations Ecosystem
Accounting Standards - Internet Media & Services etc. and biodiversity protection
Social (11 topics)
International Initiatives United Nations Sustainable Development Goals (SDGs) etc.Protection of minors in cyberspace Data security
and customer privacy protection Content quality
management Social funct ions of games1
Macroeconomic policies such as the Outline of the 15th Five-Year Plan (2026-2030) for Product R&D and innovation Technology ethics
Macroeconomic and National Economic and Social Development and industry-specific policies such as the Customer service and complaint handling
Industry Policy Trends Measures for the Administration of Online Games and the Outline of a National Campaign for Employment and protection of employees’ rights
Scientific Literacy (2021–2035) and interests Human capital development
Supplier sustainability management Community
contribution and rural revitalisation
Sustainability
Strategy and Planning Sustainability Plan of KingNet Network (2026–2030)—K Pro Action Governance (5 topics)
of the Company
Corporate governance Anti-commercial bribery
and anti-corruption Compliant operations Risk
Key Topics of Concern Key sustainability topics highlighted by the media and entertainment industry in which the management Anti-unfair competition
of the Industry Company operates
1 The games referred to here mainly pertain to the company's sustainability-related games.
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Based on its business characteristics the Company comprehensively identified organised and analysed the impacts risks and opportunities of each topic.KingNet Network’s 2025 Analysis of Material Topics’ Impacts Risks and Opportunities
Scope of Impact
Corresponding TimeOverview of Risks Corresponding
Topic Upstream Own Downstream Impact Overview Horizon ofSDGs and Opportunities1 Section
Value Chain Operations Value Chain Impact
Extreme weather events such as typhoons
may endanger employee health and safety. Risk: Climate change may lead to natural disasters and policy
As the Company operates in a region prone to changes posing both physical and transition risks for the Short- Climate
response typhoons establishing emergency response
Company potentially resulting in financial losses. medium- Climate
plans and actively implementing measures to Opportunity: Strong performance in green and low-carbon and response *
address extreme weather helps mitigate the initiatives may enhance our corporate image and investor long-term
negative impact on employee health and safety. recognition drive business growth and increase revenue.The Company ’s opera t ions invo lve the
consumption of natural resources and may result
in environmental pollution. Office operations
Green involve the use of natural resources and the Opportunity: By promoting a green operations philosophy the Medium-
operations generation of waste. Promoting green operations Company can enhance its brand image reduce energy and and
Green
and implementing effective resource and resource consumption and lower operational costs. long-term
Operations
waste management can help mitigate adverse
environmental impacts.Ecosystem The Company actively engages in ecosystem
and and biodiversity protection efforts which have
Opportunity: By actively engaging in ecosystem and biodiversity Medium- Ecosystem
biodiversity a positive impact on local ecosystems and help
protection efforts the Company demonstrates a strong sense and
raise awareness of biodiversity conservation of environmental responsibility which can enhance its brand
and
long-term Biodiversity protection among employees and the public. image and attract investor attention. Protection
Risk: Investment in product R&D and innovation may increase
operational costs without guaranteeing significant returns.Game R&D and innovation contribute to the Additionally the innovation process may involve intellectual
Product provision of high-quality cultural products property issues leading to higher compliance costs for the
R&D for society. Through innovation in gameplay Company. Medium- Product
and and storytelling the Company develops new Opportunity: By strengthening its research and development and R&D and
innovation game products that offer users a unique and capabilities and actively promoting AIGC technology the long-term Innovation*engaging experience promoting progress and Company can enhance overall operational efficiency and core
development within the industry. competitiveness. This may attract greater investor interest
unlock new growth opportunities and contribute to increased
future revenue.
1 The expected financial impacts of “risks and opportunities” as well as our strategies approaches and plans for addressing “impacts risks and opportunities” are detailed in the “Strategy” sections of the relevant topics.
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Scope of Impact
Corresponding TimeOverview of Risks Corresponding
Topic Upstream Own Downstream Impact Overview 2 Horizon ofSDGs and Opportunities Section
Value Chain Operations Value Chain Impact
If the development and application of new technologies
lack sufficient ethical review and risk assessment Risk: As we continue to deepen the application of AI
they may adversely affect user rights social values technologies inadequate management may lead to
Technology and industry standards. Strengthening technology ethical issues such as algorithmic bias discrimination Medium- Technology
ethics ethics management and risk control during innovation / and AIGC-related infringement. This may result in and
helps improve the standardisation and sustainability regulatory penalties damage to our reputation increased long-term
Ethics
of technology applications and promotes the healthy compliance costs and negative impacts on future
development of the industry. revenue.As a cultural medium games play an important role in
promoting positive values and shaping a healthy social Opportunity: Incorporating traditional cultural elements
Social and cultural atmosphere. As a leading internet gaming into games and actively promoting traditional culture Medium- Social
functions company the Company actively develops functional aligns with national policy enhances game quality and and Functions of
of games games that deliver knowledge and promote positive attracts a broader user base. In addition promoting
values to players fulfilling the positive social role of cultural exports through games supports entry into
long-term Games*
games. emerging markets and helps increase revenue.Inadequate control over game content quality may
negatively impact the online environment and even Risk: Failure to properly manage game content including
Content the broader social context. By maintaining rigorous the appearance of inappropriate or prohibited material Short- Content
quality content quality standards the Company helps foster / may result in violations of relevant laws and regulations medium- Quality
management a healthy and positive online ecosystem and prevents harm the Company’s reputation increase compliance and
the dissemination of prohibited content as defined by costs and adversely impact future business revenue. long-term
Management*
national regulations.Poor customer service quality or inadequate complaint
Customer resolution can damage the user experience and harm
service and customer interests. By delivering high-quality game- Risk: Poor customer service quality or inadequate Medium-
Customer
complaint related services and actively responding to customer / complaint resolution may lead to user attrition and and
Service and
handling concerns the Company helps improve user experience negatively impact future revenue. long-term
Complaint
and safeguard customers’ fundamental rights and Handling*
interests.Improper data and privacy management may result
Data security in customer privacy breaches and cause negative
Risk: Incidents such as customer information breaches
consequences for users. As the Company handles may damage the Company’s reputation result in Medium- Data Security and customer
privacy large volumes of customer data during its operations /
regulatory penalties and lead to a decline in capital and and Customer
protection actively strengthening data and privacy protection
market valuation. Such events may also erode customer Privacy
helps safeguard individuals’ privacy and fundamental trust increase compliance costs and negatively affect
long-term Protection*
rights and interests. future revenue.
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Scope of Impact
Corresponding TimeOverview of Risks Corresponding
Topic Upstream Own Downstream Impact Overview 2 Horizon ofSDGs and Opportunities Section
Value Chain Operations Value Chain Impact
Excessive gaming among minors may negatively
affect their physical and mental health as well
Protection as their academic development. The Company Risk: If the Company fails to implement effective protection
of minors actively implements measures to prevent gaming measures for minors resulting in widespread addiction to its Medium- Protection
in addiction among minors and enhance their digital / online games among underage users it may face negative and of Minors in
cyberspace literacy providing a healthy online environment public opinion and investor concern potentially affecting its long-term Cyberspace
and reducing the potential adverse effects of market valuation.gaming on minors.Neglecting the sustainable management of
suppliers may result in negative environmental
and social impacts by suppliers and disrupt the
Supplier Company’s business stability. As the Company Risk: Inadequate supplier management may compromise Medium- Supplier
sustainability relies on third-party server leasing for operations server stability which could affect user experience and lead and Sustainability
management implementing sustainable supplier management to user attrition. long-term Management
helps mitigate supply chain risks ensures
stable game operations and delivers a better
experience for users.Employment Al lev iat ing labour d isputes and bui ld ing Employment
and harmonious labour relations contribute to social and
protection of stability and development. By complying with Risk: Failure to protect employees’ legal rights and benefits Medium- Protection of
employees’ relevant laws and regulations and protecting may expose the Company to risks such as labour arbitration andor lawsuits thereby damaging its reputation. long-term Employees’rights and employees’ fundamental rights and interests the Rights and
interests Company enhances employee well-being. Interests
Opportunity: Through effective incentives and training
The Company has established a comprehensive employee engagement and productivity may improve. This
employee training system offering diverse enables the Company to fully leverage talent and creativity
Human t ra in ing programmes and imp lement ing potentially leading to the development of more high-quality Short-
capital performance-based incentive mechanisms. game products and enhanced market competitiveness. medium-
Human
development These efforts effectively improve employees’ Risk: Poor human capital management may result in and
Capital
skills and capabilities supporting personal skill gaps talent loss and reduced work efficiency. This long-term
Development*
growth and career development. could increase recruitment and training costs weaken competitiveness and profitability and negatively affect the
Company’s financial performance.
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Scope of Impact
Corresponding TimeOverview of Risks Corresponding
Topic Upstream Own Downstream Impact Overview Horizon ofSDGs and Opportunities2 Section
Value Chain Operations Value Chain Impact
Engaging in social welfare and rural revitalisation
efforts contributes to social harmony and
Community improved l ivel ihoods. As a leading l isted company KingNet Network actively participates Opportunity: Strong performance in community contribution Community contribution in public welfare projects and rural revitalisation and rural revitalisation demonstrates the Company’s social
Medium- Contribution
and rural work which helps strengthen connections with responsibility enhances its brand image and helps attract
and and Rural
revitalisation communities and stakeholders supports social more partnership resources.long-term Revitalisation*
development and aligns economic value with
social value.Poor corporate governance may expose
the Company to operational risks and harm
shareholder interests. By continuously improving Risk: Inadequate internal management and poor governance
Corporate its governance structure enhancing corporate practices may lead to lower ESG ratings or even regulatory Medium-
governance governance effectiveness and strengthening penalties damaging the Company’s reputation raising and
Corporate
investor concerns affecting market valuation and reducing long-term Governance*information disclosure the Company helps
mitigate governance-related risks and protect the future revenue.interests of shareholders and other stakeholders.A robust compliance system plays a critical role in
corporate governance operational management
and risk control. By building a compliance Risk: Compliance issues in the Company’s operations
Compliant framework cultivating a strong corporate culture may lead to regulatory penalties and reputational damage Medium- Compliant
operation and enhancing employee compliance awareness creating investor concerns increasing compliance costs and and Operation*
the Company reduces negative impacts on negatively impacting future business revenue. long-term
stakeholders safeguards corporate interests
and ensures long-term stable development.
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Scope of Impact
Corresponding TimeOverview of Risks Corresponding
Topic Upstream Own Downstream Impact Overview Horizon ofSDGs and Opportunities2 Section
Value Chain Operations Value Chain Impact
If the Company’s risk management system is Risk: If the Company’s risk management system is not
Risk inadequate and its ability to respond to risks is robust it may lack the capacity to effectively respond to Medium- Risk
management weak it may suffer economic losses ultimately potential risks leading to financial losses reputational and Management*
harming shareholder interests. damage and a decline in revenue. long-term
Incidents of corruption and commercial bribery
can damage the investment environment and
Anti- undermine the interests of shareholders and Anti-
commercial other stakeholders. By improving its anti-bribery Risk: Incidents involving commercial bribery or corruption Medium- commercial
bribery investigation procedures and maintaining open may result in violations of relevant laws and regulations
and anti- reporting channels the Company protects reputational damage investor attrition increased compliance
and bribery
corruption shareholders’ legitimate rights and fosters a costs and negative impacts on future revenue.long-term and anti-
corruption
culture of integrity creating a sound business
environment.Gaining advantages through unfair means in
a competitive environment may damage the
broader business ecosystem and eventually Risk: Improper management of anti-unfair competition
Anti-unfair harm the Company itself. Efforts in standardising practices may expose the Company to legal action and Medium- Anti-unfair
Competition intellectual property management preventing fines harm its reputation result in the loss of customers and and
false advertising and establishing a system help business partners and increase compliance costs. long-term
Competition
manage and prevent unfair competition thereby
reducing potential negative impacts.
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Impact Materiality Assessment Financial Materiality Assessment
KingNet Network’s 2025 Stakeholder Questionnaire Response Overview
To systematically identify and The Company assessed the financial materiality of sustainability-
assess the impact of sustainability- Shareholders related topics over three time horizons—short term (within one year
related topics on stakeholders 6.56% and investors inclusive) medium term (one to five years inclusive) and long term
t h e C o m p a n y c o n d u c t e d a 15.74% (more than five years)—from two dimensions: likelihood of financial
Government
questionnaire survey among key 10.16% and regulators implications and degree of financial implications.stakeholders in 2025 widely 5.57%
7.21%
col lect ing the i r v iews on the Users During the analysis the Company established thresholds for
materiality of relevant topics. A total Employees determining the degree of financial implications based on its
of 305 valid questionnaires were internal management practices. Through questionnaires and
14.1% Suppliers
collected in this survey. Based interviews with senior management and internal experts and in
on the survey results we derived 40.66% Industry consultation with external experts we analysed the likelihood of
organisations
scores for each topic under the risks or opportunities arising in the short medium and long term
“degree of impact” dimension. Communities as well as their expected financial implications. We then ranked
the financial materiality of the 19 topics for KingNet Network and
identified those with financial materiality based on the established
thresholds.On this basis a joint internal and external expert group conducted professional assessments of the likelihood of impacts of
each topic on stakeholders forming scores under the “likelihood of impact” dimension. We integrated the two dimensions
of “degree of impact” and “likelihood of impact” to rank the impact materiality of topics. Based on thresholds set according
to our actual circumstances topics exceeding the threshold were identified as having impact materiality. KingNet Network’s 2025 Topics with Financial Materiality
KingNet Network’s 2025 Topics with Impact Materiality 1.Product R&D and innovation 7.Risk Management
2.Data security and customer 8.Social functions of games
1.Product R&D and innovation 7.Corporate governance 13.Green operations privacy protection 9.Community contribution
2.Data security and customer 8.Social functions of games 14.Anti-unfair Competition 3.Corporate governance and rural revitalisation
privacy protection 9.Supplier sustainability management 15.Anti-commercial bribery 4.Compliant operation 10.Climate response
3.Compliant operation 10.Customer service and and anti-corruption 5.Human capital development 11.Customer service and
4.Employment and protection complaint handling 16.Technology ethics 6.Content quality management complaint handling
of employees’ rights and interests 11.Climate response 17.Ecosystem and biodiversity protection
5.Content quality management 12.Community contribution
6.Protection of minors in cyberspa and rural revitalisation
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Due Diligence and Communication with Stakeholders
To effectively identify respond to and prevent various impacts risks and opportunities in daily operations we have established a sustainability and ESG due diligence mechanism. By continuously
optimising control systems within business processes we enhance our ability to identify and manage negative impacts and risks associated with material topics thereby providing solid support for
the Company’s stable operations.Communication with stakeholders is a key component of our sustainability and ESG management. Focusing on key topics of concern to various stakeholders we have established a regular
communication mechanism. Through diversified channels such as our official website media releases meetings and exchanges periodic reports thematic activities and questionnaire surveys we
continuously carry out information disclosure and interactive communication maintaining two-way communication and feedback with stakeholders.Shareholders Government Industry
Key Stakeholder Users Employees Suppliers Communities
and investors and regulators organisations
Company Governments in Game players and Management and Service Industry NGOs charitable
shareholders and operating locations platform users general employees suppliers associations institutions
various investors and the Shenzhen engineering mainstream media
Stakeholder Stock Exchange suppliers beneficiaries of public
Representatives and material welfare initiatives
suppliers and local community
residents
Corporate governance Compliant operation Product R&D and Employment Supplier Protection of minors Community
Compliant operation Protection of minors in innovation and protection of sustainability in cyberspace contribution and rural
Risk Management cyberspace Customer service and employees’ rights and management Social function revitalisation
Key Topics of Anti-commercial Anti-unfair Competition complaint handling interests of games Climate response
Concern bribery and Social functions of Data security and customer Human capital Content quality Green operations
anti-corruption games privacy protection development management Ecosystem and
Protection of minors in biodiversity protection
cyberspace
Information disclosure Policy implementation User questionnaires Employees’ congress Supplier Industry association Employee volunteer
as a listed company Government-related User privacy agreements Club activities audit and activities services
Shareholders’ meeting activities Official management Employee training assessment Participation in the Community public
Communication Investor exchange Information disclosure channel for player groups programmes formulation of welfare activities
Methods/ meetings Communication and 24-hour customer service industry standards Energy conservation Complaint reporting research meetings hotline and emission reduction
Channels mechanism Game License Distribution of brochures initiatives
Application on the prevention of minors Biodiversity protection
Game Globalization from becoming addicted to public welfare activities
online games
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Results of Materiality Assessment
Based on the above analysis KingNet Network identified a total of 19 material topics for 2025 of which nine topics exhibit double materiality two topics have financial materiality and eight topics
have impact materiality.The Board of Directors and the Strategy and Sustainability Committee reviewed and confirmed the materiality matrix for the year. The Company has comprehensively summarised the impacts
risks and opportunities associated with each material topic and disclosed the corresponding management actions and outcomes in the Report. For topics with financial materiality the Company has
provided focused disclosures under the four-element framework of “Governance” “Strategy” “Management of Impacts Risks and Opportunities” and “Metrics and Targets”.Such topics are marked
with an asterisk (*) in the section headings.KingNet Network’s 2025 Materiality Matrix Key Changes in KingNet Network’s Material Topics in 2025
10
Product R&D Double
and innovation materiality Material Topics in 2025 Material Topics in 2024 Change Reason for Change
9 Data security and
customer privacy protection Based on our management
Employment and Compliant operation Energy utilisation practices the topic structure
8 protection of employees’ Content quality management Financial —— and GHG emissions Removed topic was streamlined and
rights and interests materiality reduction related content was divided
Protection of minors in cyberspace Corporate governance
into “Climate response ”
and “Green Operations”
7
Supplier sustainability management Social functions of games
Customer service and complaint handling Adjusted The substance of the
Green operations Climate response Impact Green operations Green offices descriptions and topic has been deepened
6 Anti-unfair Competition Community contribution and rural revitalisation materiality expanded topic based on the Company’s
Technology ethics boundaries management practicesAnti-commercial bribery and anti-corruption
Ecosystem and biodiversity protection
5 Risk Management New topics have been added Technology ethics —— New Topic in line with the Company’s
Not business development
material
4 Human capital development Based on the latest
Anti-commercial Anti-commercial materiality assessment
bribery and bribery and Adjustment of results this topic has been
3 anti-corruption anti-corruption topic materiality adjusted from a topic with financial materiality to a
topic with impact materiality
2 Based on the latest
materiality assessment
Anti-unfair Anti-unfair Adjustment of results this topic has been
1 competition competition topic materiality adjusted from a topic with
Financial Materiality double materiality to a topic with impact materiality only
012345678910
17
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
Sustainability Management System
Corporate Culture Sustainable Development Management Concept
By 2025 based on the company's mission vision and values combined with the achievements of KLove creates actions and external regulatory trends the company upgrades its sustainable development concept “Playvalue With Buff” to “Play With Buff Better” starting from sustainable business KingNet Network helps protect
Faith the green planet builds its positive force promotes its sustainable development through comprehensive
ESG management and strives to create long-term and sustainable shared value for stakeholders
including shareholders customers and employees.Leader of the
cultural industry
Vision
Play With Buff乐聚可持续游戏力
Joy everywhere
Misson
Play With Buff Better乐享可持续游戏力
Values
High spirit: Enthusiasm take challenges outdo ourselves
Open & transparent: Open mind honest innovative
Value oriented: User oriented result oriented see the big picture
Professionalism: Stay upright cooperative professional and efficient
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Sustainability Governance Structure
KingNet Network deeply integrates the concept of sustainability into corporate
governance promoting the synergistic growth of business value and social value. Sustainability Governance Structure of KingNet Network
In 2025 KingNet Network upgraded its sustainability governance system establishing Board of Directorsa three-tier top-down sustainability governance structure comprising the “Supervision Exercise overall supervision of the sustainable development plan and ESG managementand Decision-making Level Management Level and Execution Level”. work and be ultimately responsible for them;
Review the sustainable development plan and goals and regularly track progress toward
these goals;
At the Supervision and Decision-making Level the Board of Directors assumes Review the Company’s annual list of material sustainable development topics and the
overall responsibility for supervising sustainability and ESG work. The Board and its sustainability report.specialised committees perform ESG-related functions within their respective scopes of Specialized Committees under the Board of Directors
Supervision
authority in accordance with their rules of procedure. and Strategy and Remuneration and Audit Committee Nomination Committee
Sustainability Committee Appraisal Committee
decision-
At the Management Level members of the Chief Responsibility Officer Team form making level Research analyse Supervise and Formulate selection Formulate assessment
the Sustainability Work Leading Group which serves as the management body for and assess the assess internal criteria and procedures standards for
sustainability and ESG work. Specifically the Chief Sustainability Officer is responsible Company’s sustainable and external for Directors and senior Directors and senior development and ESG- audit work management; management and
for coordinating and advancing ESG management. related matters and and internal Select and review conduct appraisals;
give corresponding controls. candidates for Formulate and
At the Execution Level a Sustainability Work Executing Group has been established suggestions. Directors and review remuneration senior management policies and plans for
as the implementing body for sustainability and ESG work. It is responsible for the and assess their Directors and senior
execution and implementation of ESG-related policies plans and targets and for qualifications. management.coordinating the preparation of the annual sustainability report.Sustainability Work Leading Group: Chief Responsibility Officer Team
(Coordinated and advanced by the Chief Sustainability Officer)
Management
level Develop the Company’s overall sustainable development plan and goals and assess ESG-
related risks and opportunities;
Regularly report work to the Board of Directors and the Strategy and Sustainability Committee.Sustainability Work Executing Group: Key functional
departments and ESG officers of subsidiaries
Execution (Coordinated and advanced by the Social Responsibility Team)
level Be responsible for the specific execution and implementation of sustainability and ESG-related
policies plans and goals;
Coordinate the preparation of the annual Sustainability Report.
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In 2025 the Company’s Board of Directors fully performed its review decision-making and supervision duties for ESG matters and deliberated and approved ESG matters in aspects of corporate
governance information disclosure and compliant operation.ESG Matters Reviewed by the Board of Directors in 2025
During the reporting period:
Topics of concern Content reviewed
Deliberation and approval of the Articles of Association the Rules of
Corporate Procedure for the Strategy and Sustainability Committee of the Board of
governance Directors and the Director Remuneration Management System;
Deliberation and approval of proposals relating to the appointment of
independent Directors and employee representative Directors.The Company held 1 meeting of the Strategy and Sustainability Committee
to deliberate the 2024 Work Report of the Strategy and Sustainability
Compliant Deliberation and approval of the 2024 Self-Evaluation Report on Internal
Committee of the Board of Directors and to hear a report on the progress
operation Control and other proposals to ensure the Company’s legal and compliant of its sustainable development plan goals.operation.ESG
information Deliberation and approval of the 2024 Sustainability & Environmental
disclosure Social and Governance (ESG) Report.
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K Action: 2023–2025 Sustainable Development Plan
K Action Framework of KingNet Network
In 2023 KingNet Network officially
released the 2023-2025 Sustainable
Development Plan namely KingNet
Always Cares Action (K Action) which
focuses on the three strategic pillars
of Play: Sustainable Business With:
Sustainable Temperature and Buff:
Sustainable Care. Furthermore the
Company implements its sustainable
development concept around UN
Sustainable Development Goals
with a focus on good health and well-
being qual i ty educat ion gender
equality climate action community
development etc.The year 2025 marked the final year of the 2023–2025 Sustainable Development Plan. Over the past three years the Company has adhered to the sustainability philosophy of “Play With Buff”.Driven by K-Power of K Cohesion K Strength K Protection and K Gravitation (collectively referred to as K-POWER) the Company has comprehensively advanced sustainability initiatives across
environmental social and governance dimensions. It has fully achieved its strategic objectives and realised a complete closed loop from commitment to performance. This milestone achievement
not only demonstrates the scientific rigour and execution capability of the Company’s sustainability strategy but also lays a solid foundation for a higher-standard and more ambitious sustainability
blueprint in the future.
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KingNet Network’s Targets and Progress for the 2023–2025 Sustainable Development Plan
Overall Progress of the Three Strategic Pillars
Target
Category Target for 2023–2025 Achievement Performance in 2023 Performance in 2024 Performance in 2025
Status
Play: One sustainability- Developed Cleverly catching scammers
Sustainable related game developed Launched “KingNet Crafts and Qubits” Developed Yorozuya Released the mini- Developed Migratory Bird Hop
business or improved annually Developed a psychological follow-up game Crafts and Qubitsdialogue large language model
Total GHG emissions (Scope 1 + Procured 79 tons of Verified Carbon Units
Scope 2): 32.99% lower than 2022 (VCUs) through the international voluntary
With: Achieve carbon Participated in green electricity consumption carbon market
Sustainable neutrality in Participated in green electricity by procuring a total of 1100 green electricity Participated in green electricity
temperature operation by 2025 consumption by procuring a total of 825 certificates consumption by procuring a total of 3591
green electricity certificates green electricity certificatesAchieve
operational carbon neutrality
Buff: A total investment of Community public welfare investment Social welfare investment amounted to RMB
Sustainable RMB20 million in social Community public welfare investment amounted to RMB 7.3805 million with a 11.9896 million
Care welfare undertakings amounted to RMB 6.517 million cumulative investment of RMB 13.8965 cumulative investment over three years from 2023 to 2025 million over the past two years amounted to RMB 25.8871 million
Comprehensive ESG Management
Target
Target for 2023–2025 Achievement Performance in 2023 Performance in 2024 Performance in 2025
Status
Promote the diversity of the Board of Directors1 Female Directors:12.5% Female Directors:12.5% Female Directors: 11.1%.Enhance the independence of the Board of Directors1 Independent Directors: 50% Independent Directors: 50% Independent Directors: 44.44%
100% coverage of Directors in annual anti-corruption training 100% 100% 100%
100% coverage of Directors in annual ESG training 100% 100% 100%
100% coverage of key position employees in annual compliance training 100% 100% 100%
Zero failures in the anti-addiction system 0 0 0
100% coverage of key position employees in training 100% 100% 100%
Average training 12 hours per employee 18.84 13.05 15.23
1 In 2025 the Company appointed an additional employee representative Director. As a result of the increase in the total number of board members the proportion of female Directors and independent Directors declined.
However the actual number of female Directors and independent Directors remains unchanged.
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K Pro Action: 2026–2030 Sustainable Development PlanIn November 2025 we issued the KingNet Network Sustainable Development Plan (2026–2030) action framework upgrading K Action to K Pro Action iterating our sustainability vision to “Playwith Buff Better” expanding our sustainability strategic pillars and continuing to fulfil our commitment to a sustainable future through a long-term approach moving towards a more sustainable
next five years.KingNet Network Sustainable Development Model K Pro Action Plan of KingNet Network悦玩
Sustainable PLAY Sustainable
business collaboration共生
WITH增益
BUFF
Sustainable 进阶 Sustainable
systems BETTER temperature
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Climate response *
KingNet Network fully recognise the importance of proactively
addressing climate change for the Company’s sustainable
development. In line with the recommended framework of IFRS
KingNet Network’s Climate Change Governance Structure
S2 Climate-related Disclosures issued by the International
Sustainabi l i ty Standards Board (ISSB) the Company
continuously identifies assesses and manages climate-related
Board of Directors
risks and opportunities and systematically establishes and
improves the climate change management system. Exercise comprehensive oversight of climate change-related
matters confirm the list of risks and opportunities review carbon
Governance neutrality targets and monitor carbon reduction outcomes.The Company places strong emphasis on building a robust Strategy and Sustainability Committee under
governance system for climate-related matters and has the Board of Directors
established a three-tier top-down governance structure Provide recommendations to the Board of Directors on climate-
related matters.comprising the Supervision level Management level
Supervision Receive reports on climate-related matters at least once a year
and Execution level. At the same time the Company has level and provide recommendations.incorporated cl imate-related ratings into management
performance assessments to ensure effective implementation of
climate strategies in daily operations. Sustainability Work Leading Group
Strategy Identi fy assess and manage cl imate-related r isks and
The Company regards climate change as a key topic in its opportunities and develop transition plans carbon neutrality
sustainability management framework. It continuously identifies targets and implementation strategies.analyses and assesses climate-related risks and opportunities Management level Report regularly to the Board of Directors and the Strategy and
and formulates strategies to seize opportunities and mitigate Sustainability Committee on climate-related work and operate under their supervision.risks. In 2025 the Company achieved its operational carbon
neutrality target. On this basis the Company continues to
advance greenhouse gas emission reduction and green
operations practices further strengthening its low-carbon
Sustainability Work Executing Group
management foundation. The Company has also established
medium- and long-term targets to maintain operational carbon Execute climate-related targets and integrate the management of
neutrality and advance full value chain carbon neutrality with a climate-related risks and opportunities into routine operations.clear goal of achieving full value chain carbon neutrality by 2035. Execution level Carry out greenhouse gas emissions accounting and disclose data in accordance with relevant standards.The Company continues to explore emission reduction pathways
and management mechanisms across the value chain actively
contributing to the achievement of national carbon peaking and
carbon neutrality goals.
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Climate-related Risks Opportunities and Response Strategies of KingNet Network
Potential
Main Types of Timeframe of
Description Existing Financial Implications Financial Response Strategy
Risks/Opportunities Impact
Impact
Extreme weather events such as typhoons and other When selecting server providers the Company chooses providers
Acute climate-related disasters may disrupt the normal Medium- In 2025 no property losses or Increased from a wide range of regions and prioritises large highly secure
physical operations of leased data centres and pose risks to and business interruptions caused by operating providers to ensure maximum server stability and effectively mitigate
risk server security which may even affect the Company’s long-term extreme climate events occurred. costs the potential negative impacts of extreme weather and other force
business. majeure events.Chronic Long-term shifts in the natural environment such as Medium- In 2025 chronic climate factors Pay close attention to the possible adverse impacts on
physical sea level rise and persistent high temperatures could and such as high temperatures did
Increased the Company’s business during the implementation of the
risk have an impact on the Company’s normal operations. long-term not have a material impact on
operating
costs carbon peaking and carbon neutrality policies and take timely the Company’s operations. countermeasures.Policy The state is vigorously carrying out the deployment
and of carbon peaking and carbon neutrality strategy Medium-
In 2025 the Company carried Increase in To comply with relevant policies and regulatory requirements the
Risks and raises higher expectations for companies to and out sustainability information compliance Company should conduct regular carbon accounting tracking and regulation accelerate low-carbon green transformation and long-term disclosure with related costs of costs information disclosure and are striving to achieve full value chain risk strengthen environmental information disclosure. approximately RMB380000. carbon neutrality by 2035.Promote green operations by integrating energy conservation
resource recycling and low-carbon management concepts into all
The public is increasingly concerned about green In 2025 the Company aspects of daily operations.operations and environmental protection and if Medium- implemented green procurement Actively participate in green electricity consumption and voluntary Reputational the Company fails to achieve carbon neutrality on and practices. The Company Decrease carbon market trading maintain operational carbon neutrality and risk schedule and meet stakeholders’ expectations it may long-term procured new energy in revenue steadily advance towards full value chain carbon neutrality.pose a reputation risk to the Company’s operations. vehicles with related costs of Actively advance the presence in the field of intelligent technologies approximately RMB 110000. support the application of new technologies and materials and lead
the transformation of lifestyles to a smarter and greener model with
digital economy products and digital content.In 2025 the Company conducted
Product As sustainability concepts gain greater public Medium- functional game development Develop games or other digital content themed around low-carbon
Opportunities and and digital content innovation Increasedservice traction users may increasingly prefer low-carbon and centred on climate change revenue and environmental protection continuously exploring the positive
opportunity environmentally friendly products and games. long-term themes with an investment of potential of gaming.approximately RMB300000.Based on its existing management system and the identification of climate-related risks and opportunities the Company analysed their potential current financial impacts. The assessment indicates
that the overall financial impact of climate-related risks and opportunities on the Company’s current financial position is relatively limited with related compliance costs management investments
and R&D expenditures remaining within a controllable range. In the short term these costs and investment levels are expected to remain relatively stable and will not have a material impact on the
Company’s operating results cash flow or going concern capability.
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Management of Impacts Risks and OpportunitiesThe Company incorporates climate-related risk management into its overall risk management system by establishing and improving a risk and opportunity management process of “Identification–Assessment – Monitoring – Management”. The Company regularly identifies climate-related risks and opportunities assesses the likelihood and potential impact of those risks and opportunities
and implements appropriate measures to address them proactively.KingNet Network’s Management Process for Climate Change Risks and Opportunities
Identification Assessment Monitoring Management
Identify potential climate-related Based on our actual circumstances The Company regu la r l y t racks In response to the identified climate-
risks and opportunities in operational we assess climate-related risks and greenhouse gas emission data and related r isks and opportunit ies
activities with reference to the risk opportunities that havesignificant emission reduction performance. the Sustainabi l i ty WorkLeading
analysis framework of IFRS S2 impacts on external stakeholders and Group actively formulated response
Climate-related Disclosures. our operations from two dimensions- The Company has es tab l i shed s t r a t e g i e s w h i l e a d v a n c i n g
likelihood of occurrence and degree carbon neutrality targets and disclose energy conservationand emission
of impact-and analyse their financial abso lu te and i n tens i t y da taon reduction initiatives to reduce energy
implications andtime horizons. greenhouse gas emissions annually in consumption and carbon emissions
our sustainability report using these to inoffice operations.assess andmonitor our performance in
addressing climate change.
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KingNet Network’s 2025 Climate Response Measures and Achievements Metrics and Targets
Building on previous climate actions the Company achieved
Climate response-related risks and opportunities operational carbon neutrality in 2025 and have established
it as a standard management objective to be maintained.Proactively identified climate-related risks and opportunities in accordance with IFRS S2 Climate-related
Disclosures formulated response strategies and promoted implementation. In 2025 the Company set medium- and long-term targets
Conducted in-depth analysis and assessment of climate-related risks and opportunities responded to of achieving a 50% reduction across the full value chain by
the CDP Climate Questionnaire for the first time and disclosed climate-related information. 2030 (compared with 2025) and achieving full value chain
carbon neutrality by 2035 with clearly defined pathways for
value chain emission reduction.Achieved a “B” rating (Management level) from CDP reaching a leading position within the domestic
industry. To achieve these targets the Company continues to
implement energy conservation emission reduction and
low-carbon operation initiatives gradually improving the
management mechanism for greenhouse gas emissions
Energy utilisation and GHG emissions reduction across the value chain. Through regular monitoring and
evaluation of carbon reduction performance the Company
dynamically tracks progress towards its targets.Promoted green office practices to reduce energy consumption in daily
operations and achieved operational carbon neutrality in accordance with GHG Emissions Metric Performance
established plans. of KingNet Network for 2025
Advanced the replacement of conventional gasoline vehicles with new energy
vehicles to reduce future reliance on non-renewable energy. In 2025 the
number of gasoline vehicles was reduced from five to three.Promoted green procurement by incorporating environmental requirements
into supplier contracts thereby advancing energy conservation and emissions
reduction across the value chain. GHG emission intensity (Scope 1 + Scope 2)
Used environmentally friendly paper and cartons for business gift packaging. per unit revenue
0.01 tCO2e/RMB million
Participated in the voluntary carbon market and procured 79 tonnes of VCUs to support emission
reduction actions.Procured 3591 green electricity certificates offsetting a total of 3591 MWh of electricity.Procured environmentally friendly gift boxes reducing a cumulative total of 8.25 tonnes of carbon
emissions equivalent to the annual carbon absorption of 495 trees. Scope 3 GHG emissions
201785.85tCO2e
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Green Operations
KingNet Network complies with the Environmental In 2025 the Company advanced green operations in areas such as paperless office practices rational electricity use recycling of office
Protection Law of the People’s Republic of China supplies waste classification green travel and green procurement.the Law of the People’s Republic of China on Energy
Conservation and other relevant laws and regulations to Key Initiatives of KingNet Network’s “K Office” Action for 2025
ensure proper environmental management throughout
our operations. The Company’s operations do not
involve highly polluting or high-emission production Implementation of a paperless office Recycling of office supplies
processes and the Company’s overall environmental Utilise the web-based office system to reduce the Recycle single-sided used paper when printing and copying.impact is relatively limited. Energy consumption during issuance of paper-based information by transmitting Advocate the use of recycled paper refillable pens toner
office operations primarily involves electricity and petrol information via the web while ensuring security. In cartridges and rechargeable batteries and other recyclable items.while daily water usage is mainly sourced from municipal 2025 paper consumption decreased by 11% compared Continue PET recycling initiatives in office areas.supplies. Office activities also generate waste such as with 2024. Actively use second-hand office furniture in the office
used paper and electronic products. practicing the concept of environmental protection.Rational use of electricity Issue tableware sets to employees and prohibits the use of
The Company adheres to the concept of green
Ensure power is switched off when not in use during disposable chopsticks.development and continuously reduces environmental
impacts across the value chain. In 2025 the Company operations with security personnel assigned to conduct
issued the K Office Action Guidelines systematically daily inspections.promoting green office practices in areas such as energy Procure and install energy-saving lighting to reduce
management resource conservation waste management electricity consumption.and low-carbon travel.Packaging of the Induction Gift for New Employees
Install energy-saving lamps in the office area Issuance of Tableware Sets
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In addition during the construction of the
Waste sorting Green procurement Company’s Digital Economy R&D Centre
strong emphasis has been placed on green
Set up different types of garbage bins on each floor to For service providers priority is given to those and low-carbon principles and environmental
achieve separate collection of four types of garbage: with green data centers in order to reduce carbon protection with green building requirements
dry garbage wet garbage hazardous garbage and emissions in the value chain. integrated throughout the planning design
recyclable garbage. During procurement environmentally friendly and construction processes. During the design
Hand over non-hazardous waste such as cardboard materials are prioritised: phase environmentally friendly materials were
boxes waste paper waste dry batteries and hazardous Mid-Autumn Festival gift boxes made of eco-friendly prioritised solar photovoltaic systems were
waste such as waste electronic products to property paper and cartons reduced carbon emissions by a installed and green spaces with water retention
management company for compliance treatment. total of 3.65 tonnes. functions were incorporated to promote energy
New Year gift boxes made of eco-friendly paper and conservation and resource recycling. During
cartons reduced carbon emissions by a total of 4.6 construction high-efficiency energy-saving
tonnes. equipment was used temporary facility layouts
were optimised water-saving processes
were implemented and full-process pollution
and noise control measures were applied to
minimise environmental impacts.In 2025
Waste Sorting and Collection
Green mobility
the Company recorded
Advocate driving fewer private cars taking more public
transportation or driving new energy vehicle. no incidents of non-
Promote the replacement of the Company’s own petrol compliance relat ing to
vehicles with new energy vehicles. environmental.Actively practice the “1-3-5” mobility mode: Insist on
low-carbon mobility modes of walking within 1 km
cycling within 3 km and taking public transportation
within 5 km. Eco-friendly Gift Boxes
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Ecosystem and Biodiversity Protection
As an online game company KingNet
Case
Network’s operat ions do not have Development of the Sustainability Game Migratory Bird Hop
a n y s i g n i f i c a n t a d v e r s e i m p a c t
on ecosys tems and b iod ive rs i t y. In September 2025 the Company collaborated with the G4G platform to officially launch the sustainability game Migratory Bird Hop.Never the less we recogn ise tha t Centred on migratory bird protection and ecological education the game uses immersive experiences to guide players in understanding
ecosystems and biodiversity are not the survival challenges faced during migration the importance of habitat protection the impact of human activities on ecosystems and
only the foundation of human survival the urgency of biodiversity conservation.but also an essential safeguard for
susta inab le economic and soc ia l In November 2025 Migratory Bird Jump was showcased at the thematic exhibition area of the 30th United Nations Climate Change
development. Conference (COP 30) presenting China’s corporate practices in using digital tools for biodiversity conservation through a model of
“gaming + education + public welfare”. The accompanying offline interactive experience area attracted over 10000 participants effectively
Based on its business characteristics enhancing public awareness and understanding of biodiversity topics.t he Company has es tab l i shed a
multidimensional system for biodiversity
protection through public awareness
campaigns educational init iatives
participation in public welfare activities
and the development of environmentally
themed games. This includes broad
user engagement th rough on l ine
games deeper awareness and practice
through offline activities and systematic
education through professional courses
thereby enhancing awareness and
participation in biodiversity protection
among employees and the public.Migratory Bird Hop Showcased at COP 30
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Case Strengthening Public Awareness on Biodiversity Protection
Development of Biodiversity
Case Education Courses
In response to biodiversity protection initiatives the Company planned and produced themed public welfare posters in The Company col laborated with Shanghai
conjunction with key occasions such as World Forest Day and the International Day for Biological Diversity. Through Botanical Garden and the Society of Entrepreneurs
multiple communication channels the Company promoted biodiversity conservation concepts encouraged public & Ecology Foundation to develop the Shanghai
attention to ecological issues and advocated collective participation in environmental protection actions. Nature Education biodiversity science education
course series. The project developed 10 public-
oriented nature education courses on biodiversity
covering ecosystem protection species diversity
and the relationship between humans and nature
systematically enhancing public awareness and
participation in biodiversity issues.At the same t ime the course ser ies was
incorporated into the Company’s KingNet’s Rural
Cloud Education programme providing rural
children with more professional and diverse nature
education content and helping broaden their
ecological awareness and scientific literacy.KingNet Network Biodiversity Public Welfare Posters
On-site Natural Education Course Sessions
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Product R&D and Innovation*
KingNet Network has embraced the wave of AIGC and
the digital economy by building a diversified symbiotic
and co-evolving innovation ecosystem. While remaining
focused on its core gaming business the Company has also
made forward-looking investments in intelligent and digital
businesses. Through technological innovation it is pushing
back the boundaries of value creation fostering new growth Automatic Pipeline
drivers and continuously enhancing business resilience
and risk preparedness thereby injecting strong internal Realising the automation of the Disassembling defining and
momentum into its high-quality development. R&D middle office or back office forming a fixed R&D process
to some extent and matching the
Governance best solutions based on R&D accumulation
During the research and development process the
Company strictly complies with the Data Security Law of
the People’s Republic of China the Copyright Law of the
People’s Republic of China the Guidelines on Strengthening
Data Asset Management the Interim Measures for the
Administration of Generative Artificial Intelligence Services
and other relevant laws and regulations. We respect social Modular Standardised
ethics and moral standards and are committed to promoting
the technology for good. Modularising different R&D Defining the requirements and
Industrialised R&D
links to further improve R&D delivery standards for each link
The Company has established the position of Chief System ofefficiency and reduce costs of the R&D process
Research Officer and formed Game R&D Division IP R&D KingNet Network
Department and Technology Platform System. These
units are respectively responsible for the development of
game products IP content AI large models and technology
platforms. Together they form a well-structured industrialised
R&D system that enhances communication and collaboration
across all stages of game development thereby improving
the overall efficiency of our R&D and operations.
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Strategy Management of Impacts Risks and Opportunities
The Company conducts assessments and analyses of the impacts risks and opportunities Game R&D
associated with product R&D and innovation. This process enables the identification of
potential risks and the formulation of effective response strategies while also uncovering new Over years of development the Company has built up extensive experience in game
opportunities arising from market and technological transformation. These efforts support the development and launched a range of premium hit titles. We are committed to building a
Company in advancing steadily amid fierce market competition. broader and more distinctive product portfolio with greater genre diversity. At present our main
Risks and Opportunities in Product R&D and Innovation Identified products fall into two broad categories: Retro-themed games and innovative premium games.by KingNet Network and Response Strategies
Type of Risk/ Timeframe Potential
Opportunity of Impact Financial Impact Response Strategy Main Game Products of KingNet Network in 2025
Infringement Comply with intellectual property laws
risk and regulations to protect the legitimate rights and interests of original creators.Increased
Emerging compliance costs Establish anti-money laundering and
Risks money counter-terrorism financing mechanisms laundering to prevent the platform from being used Retro-themed games
risk for illicit activities.Geopolitical Decrease in Develop diversified IP portfolios while minimising the introduction of content Yulgang: Return Ragnarok: risk revenue from high-risk regions. Promised Adventure Legends
Increase R&D funding and intensify R&D Return and Liang Shan
investment.Short- Legends
medium- Diversify product categories and
and expand the range of self-developed
long-term games to maintain a well-balanced
short- medium- and long-term product
Market Increase in development pipeline. Innovative premium games
opportunity revenue
Oppor- Build an AI commercial platform to
tunities foster a more dynamic game creation
ecosystem. Gu Long Martial Arts Series
Capture opportunities arising from the Little Soldier: Conquer the
companionship economy and advance
innovation in AI companionship business World Soul Land: Legend of
models. Exorcism Mr Black: Guardians
Technology Reduced Leverage AI for automation and intelligent Three Kingdoms: The World
opportunity operating costs processes to improve game development efficiency. Unites
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Case Three Kingdoms: The World Unites Brings a New Nation- The Company has established a short- medium- and long-term development strategy with a War Mobile Game Experience to Generation Z diversified R&D approach. While consolidating our strengths in existing categories we are also
expanding into new game segments and exploring growth potential in niche markets such as
Three Kingdoms: The World Unites is a new faction-based SLG mobile game
designed for Generation Z. Built around a core design philosophy that balances emotional companionship and ACG (anime comics and games). In addition we continue to
pace and strategy the game does away with tedious resource farming and optimise and update popular games already launched aiming to extend their lifecycle.excessive grinding allows players to switch freely between multiple scripts within
a single season and offers high-return gameplay rewards. It breaks away from Short- Medium- and Long-term Product R&D Layout of KingNet Network
the cumbersome mechanics and drawn-out seasonal rhythm often associated with
traditional SLG games. Through innovative features such as free trading penalty-
free faction switching nine-grid formation deployment and distinctive pursuit Product Type R&D Focus Key Initiatives Flagship Products
mechanics it offers players a more distinctive and accessible Three Kingdoms
battlefield experience. Rapid iteration and
product optimisation
Since obtaining its publishing licence Three Kingdoms: The World Unites has Short-term Launch low-cost Shan Hai Fu Meng
gone through multiple rounds of testing. At the Firefly Anime Game Carnival 2025 products Preliminary exploration rapid-iteration and experimental custom projects Lu
its warship-themed exhibition stand became a popular attraction and the title also application of trending
received the Golden Plume Award for Most Anticipated Mobile Online Game by technologies
Players.Advance self-
development of Legends of the Condor Heroes
Medium Product line expansion to
top-tier licenced IP Divine Condor
-term cover niche segments
products Errant Knight and
products The Heaven Sword Diversified development Collaborate with external partners and Dragon Sabre
on customised
development Mr Black
Research and expansion Develop original IPs
of cutting-edge for cross-platform Time Raiders
Long-term technologies deployment
products The Graver Robbers’
Ecosystem development Develop an unreal Chronicles
and strategic deployment engine
We deeply integrate player feedback into product development decisions optimising gameplay
art design and storytelling based on user insights. This forms a user-driven agile iteration
mechanism continuously advancing innovation in gameplay and content.
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AI Ecosystem Innovation
As an early mover in exploring AI applications within the gaming industry KingNet Network is
Case SOON Empowering the Gaming Industry Towards Full Automation with AI
deeply engaged in building an AI gaming ecosystem. From addressing efficiency bottlenecks
in AI-generated games to creating new experiences that blend the virtual and the real the The SOON platform is a full-process AI development platform designed for the
Company continues to explore the potential of AI in gameplay innovation and user co-creation gaming industry. Built on KingNet Network’s proprietary Xingyi foundation model and
helping to foster an inclusive digital ecosystem and promote more harmonious interaction deeply integrated with multimodal AI capabilities it enables end-to-end automation
between people and machines. across art asset generation code creation and numerical design. By shortening
traditional game development cycles from months to hours it significantly supports
KingNet Network AI Ecosystem Strategy the gaming industry’s transition towards fully automated AI development.SOON breaks game generation down into three core components: Art assets
Layer Key Initiatives Flagship Products code creation and numerical design. Dedicated AI agents work collaboratively togenerate each module while the platform also introduces the role of a “game presetThrough a combination of in-house designer” allowing professional users to provide gameplay templates and ordinary
development and partnerships we users to create games through simple prompts. In doing so it fosters a two-sided
have built AI productivity tools covering
the entire game development process SOON a f u l l - p rocess user ecosystem.empowering smal l and medium- AI game deve lopment platform
Tool Layer sized developers and enabling AI to At present SOON primarily serves the mini-game market helping developers evolve from understanding creativity to validate ideas quickly reduce trial-and-error costs and support a more dynamic
delivering creative output. creative ecosystem. The platform was officially launched for download in July 2025via its official website(soonjy.com) and received the “Top 10 Innovative Products inIn response to diverse societal needs Warm Star Valley Dream Journey a heal ing AI- China’s AI Industry in 2025” award.for emotional companionship we have
entered the AI companionship sector powered trendy doll brand
promoting the evolution of AI from a
tool to an emotional companion. EVE a 3D AI Content Layer companionship appWe have es tab l i shed an “A I +hardware” te rmina l ecosystem
providing a hardware foundation for DPVR AI Glasses
future gaming interaction models and
virtual-real integrated experiences Warm Star Valley Dream
Terminal Layer and promoting the evolution of smart
Journey a heal ing AI-
wearables from niche gadgets to powered trendy doll brand
mass-market intelligent devices.
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EVE Brings Cinematic Virtual CompanionshipThrough Warm Star Valley Dream Journey Opens Up New Opportunities in
Case a 3D AI Companion Case the Emotional Economy
In 2025 BLUESPACE LIMITED (known domestically as NatureSelect.ai) an Warm Star Valley Dream Journey is a healing AI-powered trendy doll brand
investee of the Company launched EVE the world’s first 3D AI companionship launched by KingNet Network. Built around an “intelligent doll + virtual game”
application. model it is designed to meet young consumers’ growing demand for emotionalcompanionship. Centred on the concept of a “digital life form spanning both virtualEVE is designed to foster long-term emotionally rich virtual relationships. Powered and real worlds” the brand has introduced the Star Child series of AI-powered
by NatureSelect.ai’s proprietary multimodal interaction system it integrates intelligent dolls. Equipped with built-in AI chips the dolls support voiceprint
the emotional dialogue model Vibe and the memory model Echo. Trained on recognition motion-based interaction AI conversation long-term memory and
an exclusive corpus comprising hundreds of millions of data points it enables an intelligent accessories system with deeper interaction unlocking additional
the AI to understand semantic context accurately recognise users’ emotions features and gameplay. Its companion software creates the fantasy world of Warm
generate responses with a coherent sense of personality and continuously build Star Valley and through light gameplay such as nurturing exploration dress-up
personalised dynamic memory. EVE also features high-quality 3D virtual characters and story-based progression forms a closed-loop ecosystem combining hardware
and a commercial game-grade narrative system delivering an immersive experience interaction with software-based development. This enables features such as dataacross language visuals and emotional interaction. Its unique “real-world perception inheritance for the dolls and linkage between virtual and real-world scenarios.module” enables companionship behaviours to respond to the user’s time location
environment schedule and situational context extending AI companionship beyond The brand aims to create healing AI trendy dolls with long-term companionship
emotional value into more structured everyday support. value. The first-generation Star Child series of AI-powered intelligent dolls
Goodnight Sheep and Worry-Free Bird were brought to market in December 2025.
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Case DPVR AI Glasses Redefine Smart Terminals The Company actively fosters an innovation ecosystem that integrates industry universities
and research institutes. Through diversified external collaboration mechanisms including
university-enterprise partnerships and cooperation on AI large-model technologies it connects
In 2025 DPVR an investee of the Company launched its first AI glasses product research resources of universities with industrial application chains enhances its R&D and
DPVR AI Glasses. Equipped with a first-person capture function together with innovation capabilities and accelerates the commercialisation of research outcomes.Electronic Image Stabilization1(EIS) High Dynamic Range2 (HDR) optimisation
and distortion-correction algorithms the product delivers stable and clear imaging External AI Collaboration Projects of KingNet Network
in sports commuting and everyday recording scenarios helping users capture
meaningful moments in daily life. In terms of user experience the product structure University-enterprise collaboration
underwent hundreds of rounds of optimisation to ensure comfort even during We established cooperation with the International Institute of Creative
extended use. Shanghai Design of Shanghai University of Engineering Science to jointly establish
University of a practice and research platform further advancing an education model
Developed through a collaboration between DPVR and Baidu AI Cloud DPVR AI Engineering that integrates learning and innovation.Glasses are deeply integrated with Baidu AI Cloud’s Qianfan large-model platform Science The two parties will also work together to build a practice-based teaching
and powered by the DeepSeek-R1/V3 model series. The product supports intelligent system covering professional skills in game art planning numerical design and engineering with the aim of narrowing the traditional divide
interactions such as voice-enabled image recognition content Q&A and scene between theory and practice in teaching.recognition. Users can for example use voice commands to look up information on
tourist attractions identify museum exhibits or receive recommendations for trending
blind-box series delivering a smart experience that is intuitive companionable and University-enterprise collaboration
genuinely useful.Leveraging Jiyi’s self-developed one-stop AI game creation platform Communi-SOON Communication University of Zhejiang has incorporated “game cationdevelopment technology” into its core curriculum enabling deep University of
integration of teaching content with cutting-edge technology and making
practical application-oriented learning outcomes more tangible for Zhejiang
students.Model collaboration
The two parties have established in-depth cooperation to jointly develop
large models for the gaming industry promoting the deep integration of
gaming and AI and driving innovative transformation.
01.AI
The collaboration will focus on the intelligent upgrading of game engines
and related platforms exploring solutions that improve efficiency across
the entire value chain from development to operations around key
stages of game R&D.
1. EIS (Electronic Image Stabilization)A digital image stabilization technology that utilizes software algorithms and image processing to counteract hand shake or device vibration during shooting thereby enhancing
video stability.
2. HDR (High-Dynamic Range)An image processing technology that restores realistic lighting details and a sense of depth—matching human visual perception—by expanding the brightness threshold (range from
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Digital Platform Development
KingNet Chain is the Company’s digital asset platform developed by integrating emerging technologies such as blockchain the metaverse and artificial intelligence. Guided by the four core
principles of Gleaning Multivariant Extraordinary and Equal the platform brings together diverse creators and game IP holders. It is committed to building a digital art marketing system establishing
digital brand images and creating a rich and diverse metaverse content ecosystem to inject fresh vitality into the development of the digital economy.In 2025 KingNet Chain continued to promote integrated innovation in digital assets improve its compliance framework and dual-track circulation system develop a gamified digital asset ecosystem
empower the AI art creation ecosystem and explore new pathways for the digitalisation of brand IP and the international dissemination of Chinese culture. In doing so it delivered end-to-end
outcomes spanning the technological foundation content innovation and cultural value transformation while fostering mutually beneficial growth among users creators partners and the platform
itself allowing digital value to continue growing through a sustainable cycle.Achievement Highlights of KingNet Network’s KingNet Chain Platform in 2025
Case KingNet Chain Activates Cultural Tourism Consumption
Compliance framework and dual-track Through a “Digital Assets + Real Economy” Model
circulation system Gamified digital asset ecosystem
Leveraging blockchain technology KingNet Chain has built
The platform has established intelligent risk control Light-interaction mini-games such as Feng Kuang Diao Yu an integrated system combining digital assets with the real
on-chain data storage and traceability mechanisms to were launched enabling users to acquire and accumulate
enable full-process compliance assessment; digital assets naturally through low-barrier highly engaging economy supporting the digital upgrading of the cultural tourism
participation such as online themed competitions. These assets industry. The platform upgrades traditional scenic area tickets
Leveraging Conflux’s blockchain technology to may take the form of virtual items or certificates of entitlement to into digital assets enabling paperless and environmentally
optimise its multi-chain and cross-chain architecture physical benefits. In this way traditional consumption behaviour friendly entry through QR code verification while also
the platform has developed a dual-track model of is transformed into a process of value creation helping to build“compliant domestic issuance + multi-chain overseas incorporating bundled benefits such as purchase offsets and a more dynamic and sustainable internal economic cycle.circulation”. souvenir redemption to create a one-code consumption loop.The platform has also pioneered an integrated online-to-offline
Empowering the AI art creation Brand IP digitalisation and international benefits model. Online users receive digital benefits such as
ecosystem dissemination of Chinese culture virtual items and priority access; offline the platform works
The platform integrated blockchain Web3.0 and The platform provided customised digital asset issuance solutions with partner attractions time-honoured brands and intangible
AI technologies to establish an AI artist certification for IP and brands participated in the formulation of industry
system and create dedicated zones for creators; standards and co-established a compliant trading system with
cultural heritage workshops across China to provide services
Zhejiang Culture Assets and Equity Exchange to promote such as physical redemption and discounted reservations. ThisIt supported AI creation competitions customised standardisation of digital asset transactions. creates a connected ecosystem of “online collection offlineand issued digital commemorative badges and digital
trophies and collaborated with artists to launch AI It leveraged digital technologies to facilitate the internationalconsumption”. This model has proven effective in driving footfall
digital art series promoting global cultural dialogue dissemination of traditional cultural IP creating digital content that at physical businesses promoting deeper integration between
and the dissemination of artistic diversity through is collectable tradable and usable expanding brand narrative the digital economy and the real economy and supporting boundaries and establishing new forms of long-term interactive
digital technologies. digital connection with users. innovation in the cultural and tourism sector.
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Metrics and Targets
Honours and Recognition for KingNet Network’s
Based on differentiated business models we have established a tiered and categorised R&D and innovation management R&D and Innovation in 2025
system continuously deepening innovation investment across three core technology areas namely gaming AI and digital
platforms to steadily unlock technological value. In 2025 our R&D investment reached RMB 595 million accounting for 11.18%
of our revenue.Shanghai KingNet SoftwareKingNet Network’s R&D Investment Performance from 2023 to 2025 “Specialised SophisticatedDistinctive and InnovativeEnterprise in Shanghai”.Year 2023 2024 2025
Amount of investment RMB 527 million RMB 598 million RMB 595 million
Shanghai Doushi
As a percentage of revenue 12.26% 11.69% 11.18%“2025 Shanghai Software CoreCompetitiveness Enterprise(Innovation-Oriented)”.KingNet Network’s Intellectual Property KingNet Network’s Digital Asset Development The Company’s associate
Performance in 2025 Performance in 2025 Hangzhou Jiyi AI Technology Co. Ltd.Number of active patents during the reporting periodreceived 9 awards including the “2025
23 AI Technology Innovation Breakthrough Mini-game digital AI artist assets Award” “2025 Outstanding Applicationassets 117700 Case for Digital China Development” Number of trademarks approved during the reporting 297146 “2025 Top 50 Emerging AI Enterprises” period and “2025 Top 30 High-growth Emerging
26 Brand assets Co-created assets with High-tech Companies in China”.
global artists
Cumulative number of approved trademarks 21335 265000
664
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Technology Ethics Technology Ethics Risk Prevention and Control Measures
We implemented prompt control mechanisms to strictly prohibit game preset designers from inputting
KingNet Network strictly complies with applicable laws prompts related to IP that has not been fully and lawfully authorised including but not limited to detailed
and regulations including the Interim Measures for textual descriptions of IP characters and styles as well as prompts involving illegality non-compliance
the Administration of Generative Artificial Intelligence AI game infringement pornography violence gore religion or politics thereby blocking risks at the source.Services and the Measures for the Labelling of AI- creation
Generated and Synthesised Content and has We established a “three lines of defence” content review mechanism. The first line of defence focuses on platform
formulated the AIGC Safe Use Management System. training data governance with strict control over the quality of image and content materials. The second
line of defence consists of professional review under which supervisors assess generated content for
In the development of AI the Company adheres to a compliance. The third line of defence strengthens decision-making oversight with senior management
people-oriented and intelligence for good approach conducting final risk assessment and judgement.earnestly fulfils its compliance responsibilities and
ethical obligations in the AI era and supports the
development of a safe trustworthy inclusive and We utilise the built-in alignment capabilities of foundation models to constrain generation logic and
broadly accessible AI industry ecosystem. In 2025 the AI-powered introduce output-layer filtering systems to detect and replace abnormal content generated by foundation
Company recorded no incidents of non-compliance dolls models ensuring that interactive content remains appropriate and compliant.relating to technology ethics.During the development of AI-related products we In addition the Company has partnered with the Guanghua Law School of Zhejiang University to launch a special research project
established safeguards such as prompt control and on tech ethics. Officially kicked off in November 2025 the collaboration also saw the co-hosting of the inaugural "Digital Law Monthly
content generation review achieving a dynamic Forum" to establish a platform for industry-academia-research exchange.balance between technological innovation and
compliant operations. Case Kingnet Network Participates in Zhejiang University’s “Digital Law Monthly Forum”
In 2025 The project plans to publish a research white paper in 2026. Moving forward we will proceed in an orderly manner with literatureresearch review writing and industry surveys continuously exploring practical pathways for Tech for Good.During the “DigitalLaw Monthly Forum” on technological ethics held by Zhejiang University in December 2025 the company shared its experiences
in ethical governance practices in the development of game AI.The company introduced the intellectual property compliance risks encountered during the process of conducting specialized
the Company recorded no incidents training based on open-source large models and pointed out that technology developers face dual responsibilities in terms
of non-compliance relating to of technological ethics in practice: they need to promote the innovative application of AI technology while also bearing
technology ethics. corresponding responsibilities for the compliance risks brought about by the uncontrollability of the underlying model's behavior.On this basis the company proposed the necessity of establishing a more refined responsibility stratification mechanism to
clearly define the responsibility boundaries among the basic model provider the model fine-tuning service provider and the end
user. The related exploration reflects the company's cautious attention to technological ethics issues in AI technology research
and development as well as its practical orientation of promoting industry collaborative governance.
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Social Functions of Games*
Governance Strategy
We deeply integrate sustainability concepts into our core To better demonstrate the cultural attributes and positive value of games and promote the healthy development of the gaming
business operations continuously promoting traditional industry the Company assessed and analysed the impacts risks and opportunities related to the social functions of games
culture and telling Chinese stories to the world through based on its business strategy and characteristics.gaming thereby creating diverse social value.Based on our sustainability governance framework the IP
R&D Department is responsible for IP content planning Risks/Opportunities Related to the Social Functions of Games Identified by
development and operations. Using game IP as a bridge KingNet Network and Corresponding Response Strategies
we innovate models for the inheritance of intangible cultural
heritage and explore new pathways for cultural disseminationthrough the in tegrat ion o f “game IP + t rad i t iona l Type of Risk/Opportunity Timeframe of Potential Financial Impact Impact Response Strategycraftsmanship”. We continue to advance our strategy
for the international dissemination of Chinese culture Short- During the process of game exporting fully consider the
leveraging a diversified IP portfolio and global operational medium- Increased cultural context and user preferences of the target market Cultural conflict risk
network to showcase the richness and appeal of traditional and operating costs and do a good job in the localization of content and
Chinese culture to overseas players thereby supporting long-term operations.the enhancement of the reach and influence of Chinese Present traditional culture in modern and youth-oriented
civilisation and the country’s cultural soft power. formats that resonate with younger audiences enhancing
cultural vitality
Short-
Market and policy medium- Increased Effectively promote Chinese culture globally enhance
opportunity and revenue cultural soft power and foster international understanding
long-term
Explore the integration of cutting-edge technologies
with cultural content providing new ideas for industry
development
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Management of Impacts Risks and Opportunities
Major Development Achievements of Crafts and Qubits in 2025
The Company is committed to promoting traditional culture
empowering the inheritance of intangible cultural heritage Details Type
through IP and digital technologies and actively expanding
into global markets using games as a medium to tell Comic serialisation：The main storyline continued through Episode 88. In collaboration with the Social Responsibility
Chinese stories to the world. Team a spin-off titled Research Adventure was launched focusing on the customs local culture and intangible
cultural heritage stories of provinces with significant ethnic minority populations. Episodes set in Xinjiang Quanzhou
Promote Traditional Culture and Yunnan have already been released.The Company has developed Crafts and Qubits an Audiobook Release：Adapted from the Crafts and Qubits novel the 120-episode audiobook was launched
original IP inspired by traditional Chinese craftsmanship. on platforms including Ximalaya QQ Music Lazy Audio Kuwo and Kugou and achieved more than 100000
Incorporating more than 30 traditional craft practices cumulative plays.included in intangible cultural heritage registers such as
traditional incense making rattan weaving bamboo weaving Animation Project：Season One successfully completed its funded project under the Yuhang District Cultural and
papermaking oil-paper umbrella making and shadow Arts Development Fund and additionally obtained broadcast authorisation from Inner Mongolia Television. Season
puppetry into a compelling narrative the IP has evolved into Two received RMB 1 million in funding and has completed more than 60% of its content production. It also marked
a content matrix spanning games animation comics novels the first attempt to adopt a “2D hand-drawn + AIGC” approach in the production of individual episodes. Production
and cultural and creative merchandise. In 2025 Crafts and regulatory submission distribution and project completion are expected to be completed in 2026.Qubits continued to advance content creation and through
multiple channels including merchandise development
brand collaborations and digital empowerment promoted
the creative transformation and innovative development of
intangible cultural heritage.
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Intangible cultural heritage Brand collaboration and promotion Digital empowerment and interactive co-
inheritance practices creationThe Company participated in animation screening The Company collaborated with Xiaoshan Benwei a In the first phase of “If I Were a Crafts and Qubitsevents organised by the Hangzhou Cultural and brand under Xiaoshan Industrial Development Group Member” campaign the Company introduced
Creative Industry Development Centre and the to launch a co-branded cultural gift box drawing on the IP character models and AI-generated storyline
animation was screened free of charge in more than Zhejiang provincial intangible cultural heritage crafts gameplay attracting participation from more than
six museums. of Xiaoshan preserved radish making and Xiaoshan 20000 users. The campaign generated 1.25 million
printmaking thereby supporting both agricultural images and achieved a popularity score of 2.34
Its cultural and creative products were also officially product promotion and intangible cultural heritage million on the platform while the completion rate for
introduced into the retail shop of the Zhejiang preservation. the “entrance test” adventure storyline reached 37% Intangible Cultural Heritage Museum. ranking first among the platform’s adventure-themed
It also partnered with Lila Foods to launch Crafts and experiential campaigns.In addition the Company designed and developed
a broader range of handicraft material kits inspired Qubits food toy cards. In the second-phase “Crafts and Qubits Battle”
by intangible cultural heritage launching more than
The Company worked with Balabala to launch the campaign users were invited to create their own ten products including a Jia Ma woodblock print craft
Oriental Treasures Chinese New Year animated short Crafts and Qubits characters and take part in battle kit Jia Ma print acrylic fridge magnets a bamboo-
woven hanging ornament symbolising blessings and series and related festive pop-up events in which Crafts mini-games. The campaign recorded a popularity
prosperity and a bamboo-woven pinwheel symbolising score of 2.03 million on the platform with 25000 and Qubits cosplayers wore the brand’s Chinese New
a turn in fortune all of which were also exhibited at characters created and 15000 battles initiated while Year collection to promote intangible cultural heritage.the 6th Yangtze River Delta International Cultural the official account remained actively engaged with
Industries Expo. users throughout the campaign.The Company has also developed Seasonal Voice an original anthropomorphic IP based on traditional Chinese festivals and solar terms. A wide range of products has been developed around
the IP including games picture books comics animation novels virtual characters and digital collectables as well as cultural and creative derivatives such as cards board games and folk
costumes. In 2025 Seasonal Voice continued to advance in areas such as intangible cultural heritage inheritance and technological integration achieving synergy between IP development and
social value creation.
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Major Development Achievements of
Seasonal Voice in 2025* * * * * * * * * * * * * * * The Company’s digital asset platform KingNet Chain
actively responds to national initiatives to promote
Innovation through collaboration with intangible Community collaboration and co-creation the inheritance and innovation of traditional Chinese
cultural heritage culture by integrating traditional cultural elements with
modern digital artworks through digital and blockchain
In collaboration with the Jingdezhen-based brand Ci’er Seasonal The Company continued to organise offline community events
Voice developed a porcelain collection inspired by the solar terms including the “Everyday Tea Talks” series and autumn tea talks using technologies.which was showcased in the cultural and creative retail space of immersive experiences to connect traditional culture with modern life.the China National Arts and Crafts Museum / China Intangible In 2025 KingNet Chain collaborated with the IP
Cultural Heritage Museum reflecting the deep integration of the It also collaborated with
IP with traditional ceramic craftsmanship. Xiezhi the cultural IP of Seasonal Voice to launch exclusive digital assetsfor the “Preserving Intangible Cultural Heritage andThe Company also partnered with Zhu’s Copper Art to launch co- Pujiang Town in Minhangbranded copper relief artworks based on Seasonal Voice’s illustrations District Shanghai to co- Sharing the Seasonal Voice New Year Goods Festival”
themed around the Huazhao Festival and Longtaitou Festival further create and publish Seasonal
campaign. By integrating online and offline benefits the expanding the scope of collaboration with traditional arts and crafts. Voice: Xiezhi Proverbs
Collection a comic themed campaign brought intangible cultural heritage to life in
around intangible cultural a more youth-oriented and interactive manner helping
heritage that promotes
local customs and proverb to broaden its audience base deepen the platform’s
culture through the comic cultural value and social impact and generate valuable
format. insights into the commercial potential of integrating
Advancing social inclusion digital assets with the real economy.The Company released an accessible version of Seasonal Voice
Technology integration and empowerment across online platforms featuring audio description subtitles for
the hearing impaired and sign language interpretation in order
In collaboration with platforms such as AITOP100 the Company to meet the cultural needs of people with visual and hearinghosted competitions including the “Seasons of Charm: AI impairments demonstrating the inclusiveness of digital contentAgent Innovation Competition” and the “Chinese Aesthetics of and a strong sense of social care.the Seasons Reimagined for the Future” AIGC Short Drama
Content Creation Competition encouraging participants to use
AI technologies to reinterpret the IP and explore new forms of
cultural and technological integration.Empowering youth education
The Company participated in the creation of the immersive
reading-themed park Reading Together in which Lantern Festival
Joy was featured as one of the classic literary scenes helping to
promote youth reading and education in traditional culture.
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Promoting the International Dissemination of Chinese Culture
The Company has thoroughly implemented the national strategy of building China into a leading country in culture continued to expand its games overseas and actively strengthened its global
distribution presence. While further consolidating its position in Hong Kong Macao and Taiwan South Korea and Southeast Asia the Company also sought to make inroads into Japan and Europe
with a view to bringing more game products with distinct Chinese characteristics to the international stage and contributing further insight and momentum to the international dissemination of
Chinese culture.Overseas Distribution Achievements of KingNet Network in 2025
In 2025
the Company’s overseas revenue reached
595 RMB million
Up
17.78% War of Angels Sword and Fairy: A New Beginning year-on-year Hong Kong Macao and Taiwan regions of China; South Hong Kong Macao and Taiwan regions of
Korea; Southeast Asia region; Europe and America regions China; Southeast Asia region
The New Heaven Sword and Dragon Saber Party Not Beast Control Super Shrimp Battle
Hong Kong Macao and Taiwan regions of China; Hong Kong Macao and Taiwan Hong Kong Macao and Taiwan regions of China;
Southeast Asia region regions of China Southeast Asia region
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We leverage IP value to empower the international dissemination of Chinese culture continuously promoting the overseas distribution of self-developed IP content. In 2025 Crafts and Qubits
released English versions of its motion comic and comic on overseas platforms including YouTube Webtoon and Instagram generating more than 150000 impressions in total. Seasonal Voice
meanwhile accelerated its international expansion through the production and distribution of short dramas and the organisation of cultural exchange forums further enhancing the IP’s global profile.Overseas Expansion Achievements of Seasonal Voice in 2025
Case Shared Horizons: Reimagining Festivals
Overseas publication and dissemination of IP content Global multilingual release of Across Civilizations of KingNet Network
micro-short dramas
The English version of the main IP picture book Seasonal Voice was The overseas version of The Company launched a model of collaborative creation
published overseas. the Lantern Festival Joy between Chinese and international artists using traditional
micro-short drama was
The English version of the short story Lantern Festival Joy from the completed and launched Chinese festivals as its cultural foundation and inviting
sub-series Lantern Festival Joy was released overseas in collaboration f rom September 2025
with Singapore’s Writers Press and sold in 3 bookstores in Singapore 20 artists from 12 different countries to co-create from on major in ternat ional
strengthening the international output of the IP’s literary content. platforms such as YouTube diverse cultural perspectives. By doing so it moved
and TikTok. Released in beyond a one-way model of cultural export and fostered
15 languages including
E n g l i s h F r e n c h a n d cross-cultural dialogue grounded in mutual appreciation
Vietnamese it recorded and shared flourishing. The co-creation outcomes were
m o r e t h a n 3 0 m i l l i o n
overseas views in total compiled into the World Festival Art Calendar 2026 and
enabling efficient cross- officially released at the 2nd Spring Festival Culture
p la t f o rm mu l t i l i ngua l
dissemination of cultural Forum and International Academic Conference on
content. Spring Festival Culture and Sustainable Development
and the Singapore Sub-forum. Through this approach
of “bringing people in” to tell China’s stories together
High-level international forums exhibitions and cultural exchange the initiative achieved a deeper and more nuanced
form of cultural penetration representing an innovative
Lantern Festival Joy was showcased at the 2025 practice in promoting Chinese culture internationally and
Frankfurt Book Fair in Germany. encouraging dialogue with civilisations around the world.In Singapore the Company hosted the Inaugural
Ceremony for the Singapore Sub-forum of the
Spring Festival Culture Forum & 2025 International
Exchange Exhibition for Seasonal Voice IP.The Company also participated in co-organising
the 2nd Spring Festival Culture Forum and
International Academic Conference on Spring
Festival Culture and Sustainable Development.
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Metrics and Targets
In 2025 we continued to deepen efforts in intangible cultural heritage inheritance and the international
dissemination of Chinese culture. Through premium game development IP operations and cross-sector Recognition Earned by KingNet Network in 2025 for Demonstrating the Social Value of Games
integration and innovation we sought to unlock the contemporary value of traditional culture and promote
the transition of fine traditional Chinese culture from being revitalised domestically to reaching audiences During the reporting period a number of the Company’s self-developed
worldwide. IPs aimed at promoting traditional culture received external recognition:
Metrics and Targets on Social Functions of Games of KingNet Network
Product and IP Development Lantern Festival Joy
Number of sustainability-related games Number of Crafts and Qubits offline “Overseas Communication Award” at the 2nd “White Horse Award” for New Era Online Literature
public welfare activities
Average of 1 Progress At least Progress
in 2025 in 2025 Crafts and Qubits Seasonal Voice Jingchu game developed
per year Completed
10offline events Completed “Best Innovation Team “Best Creative Award” inAward” at the 5th China the 2024 “City Symbols”
Game Innovation IP Selection
Competition
Digital Art Creation
During the reporting period the Company’s efforts in promoting
KingNet Chain traditional culture and expanding its games overseas also received
Number of traditional culture-themed Total number of AI-powered digital broad recognition:
digital artworks issued artworks issued The Company’s subsidiary Shangrao Kaisheng
Progress Progress Network Technology Co. Ltd.At least At least
in 2025 in 2025
5 2 “Key National Cultural Export series Completed series Completed Enterprise for 2025–2026”
KingNet Network
Total number of digital artworks issued
“Digital Cultural Creative Award” “Golden LighthouseMore than Progress Awards” at the 6th Yangtze River Delta
200000 in 2025 International Cultural Industries Expo“Outstanding Member Unit” by the Shanghai Cultural and
items issued Completed Creative Industry Promotion Association
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Content Quality Management*
KingNet Network’s content quality management primarily Governance
covers two areas: Self-developed content and externally
introduced content. The Company has established a The Company complies with the Copyright Law of the People’s Republic of China the Measures for the Administration of
well-developed content quality control system to ensure Online Games the Regulation on the Administration of Publication and the Administrative Provisions on Online Publishing
content safety and compliance while delivering a high- Services and other applicable laws and regulations. It has established policies such as the Regulations on the Management
quality gaming experience for players. of IP Introduction and Adapted Game Projects to strictly control the quality of externally introduced content. The Company
has established a Publishing Department responsible for the pre-launch approval application for all game products under the
Company as well as content supervision and review during the operation stage ensuring that product content is lawful and
compliant and contains no improper orientation.Strategy
The Company adheres to a premium product development strategy aiming to deliver high-quality games to players. While
externally sourced content can enhance the Company’s core business it also introduces certain risks and places higher
demands on content quality management capabilities. To address this the Company conducts systematic assessments and in-
depth analyses of risks related to content quality management. This enables the identification of potential risk points and targeted
optimisation of management processes ensuring content compliance and a consistently high standard of presentation.Risks in Content Quality Management Identified by KingNet Network and Response Strategies
Type of Risk Timeframe of Potential Financial Impact Implications Response Strategy
Evaluate product content quality across five key dimensions
Short- Increase in compliance Implement a three-tier content review responsibility systemContent
medium-
compliance costs Maintain a comprehensive acceptance testing process
and
risk
long-term Decrease in revenue Adopt a cautious approach to IP acquisition
Provide training on content quality review
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Management of Impacts Risks and Opportunities
The Company has strengthened its content oversight and delivery by evaluating product content across five dimensions: concept orientation original design production quality cultural connotation
and development level. Through a multi-pronged approach the Company continually enhances content quality.Consideration Dimensions of Product Contents of KingNet Network
Concept Original Production Cultural Development
Orientation Design Quality Connotation Level
Whether the game Whether the gameplay Whether the production Whether the games Whether the game
theme characters and artistic style and of game scenes can disseminate and content is complete
gameplay are in line with worldbuilding demonstrate character designs and promote the essence of the character settings
the core socialist values. reasonable innovation. storylines reflects a high Chinese culture as well storyline and gameplay
standard of quality and as accurate scientific and are comprehensive
refinement. cultural knowledge. and whether the game's
operation is sound.In accordance with the requirements of the Standard Spoken and Written Chinese Language of the People’s Republic of China the company has strengthened the verification of the Chinese text
content of its game products to ensure the standardization and normalization of language and character usage. The main game products under the company have been fully integrated into NetEase
Yidun establishing a dual review mechanism of “intelligent detection + manual review” and also establishing a rapid handling channel to achieve real-time interception and efficient cleaning of all
kinds of illegal content effectively promoting the standardized implementation of the risk prevention and control system. The system can accurately identify and intercept content related to politics
pornography spam advertisements sensitive information and violent and terrorist content as well as their variant forms. It also efficiently filters and handles illegal audio content. Through the
collaborative operation of “24/7 manual review + intelligent system” the overall content review efficiency has increased by more than five times and the content security governance capability has
been comprehensively strengthened.
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The Company firmly implements the three-tier content review responsibility system for game licence applications aiming to ensure In addition the Company organises monthly
that products can successfully obtain publishing approval and that game content aligns with evolving regulatory requirements. training sessions for content quality reviewers to
familiarise them with the latest review requirements.Employees are also encouraged to participate in
training organised by regulatory bodies and industry
associations in content quality management.In November 2025 the Company organised all
employees in content supervision-related positions
Before application During application After launchto participate in the “2025 Shanghai OnlinePublishing Management Training” organised by
The Publishing Department Game content is strictly Regular comprehensive the China Audio-video and Digital Publishing
c o n d u c t s a n i n t e r n a l revised in accordance reviews of game content Association and the Publicity Department of
review of game content with the feedback from are conducted w i th the Shanghai Municipal Committee effectively
to ensure there are no regulatory authorities. c o r r e c t i v e a c t i o n s enhancing their awareness and capabilities in
content-related risks. organised as needed. content quality management.Metrics and Targets
The Company has established a comprehensive product testing and acceptance process. The QA The Company strictly implements internal and
During Department is responsible for quality control throughout all phases of development. Closed Beta external requirements for game content quality
the game Testing (CBT) and Open Beta Testing (OBT) are used to continuously optimise and adjust game management. In 2025 it achieved zero violations in
development mechanics content and design ensuring a high-quality experience for players. the launched game content.The Company has established a multidimensional IP risk assessment system covering content
orientation country of origin and genre characteristics. In terms of content orientation the Company
strictly excludes high-risk content with inappropriate elements such as violence and gore; in terms of
During country of origin it suspends the introduction of new Japanese IPs in 2025 and has shifted cooperation Target In 2025
external IP focus to regions such as South Korea and France to mitigate geopolitical risks; in terms of genre zero
introduction
characteristics the Company fully explores the overseas expansion potential of traditional Chinese violations in
martial arts IPs in regions such as Hong Kong Macao and Taiwan as well as Southeast Asia where the launched 0
Chinese culture has strong regional resonance thereby balancing the commercial and social value of game content
its IPs.
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Customer Service and Complaint Handling*
Governance
KingNet Network always adheres to the concept of “providing higher quality and better service” with user value as the core In 2025 the Company established a Game Player Complaint
continuously creating a customer-centred high-quality experience. By formulating the Management Measures for Complaints Handling Taskforce composed of core members from various
from Game Users and building diversified customer communication channels properly resolves user complaints and maximises functional departments to handle key complaint cases
the satisfaction of legitimate and reasonable user demands reducing the risks of user disputes. ensuring that such player complaints were resolved within
three working days and maintaining smooth communication
with the relevant regulatory authorities.key complaint
Channels for Customer Communication of KingNet Network
Service channel for managing anchors of networking platform fan groups
Official website Wechat public
account
that such player complaints were resolved
Official management Channels for Customer 24-hour within 3 working days
channel for player Communication of KingNet customer
groups Network service hotline
Exclusive WeChat Online instant XY Game Platform Customer Service Hotline:
service channel communication 400-993-6669software
Note: XY Game Platform is a premium game operation platform under Shanghai KingNet Network Technology Co. Ltd.
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Strategy Management of Impacts Risks and
Opportunities
To c o n t i n u o u s l y i m p r o v e t h e
standardisation and effectiveness of In 2025 to improve customer service quality the Company promoted the
its customer service and complaint deployment of AI-powered customer service and gradually explored and piloted
handling system and promptly identify its application across various platforms and scenarios. While ensuring that users
and address risks that may affect user retain the option to access human customer service the Company introduced
experience and brand reputation the intelligent customer service to handle common gameplay enquiries and process-
Company has analysed risks related to related issues. It also improved response efficiency and answer accuracy through
customer service and complaint handling knowledge-base training and model optimisation. Through AI empowerment the
and formulated targeted management Company has continuously optimised service experience and improved customer
and improvement measures so as to service efficiency and resource allocation.safeguard user rights and interests
enhance user satisfaction and support To deliver better user experiences the Company’s customer service platform
the steady development of the business. strictly adheres to and continuously optimises its service management system.The Company has established stringent quality control (QC) standards to
Timeframe of Potential Financial promptly identify and address issues arising during service delivery. In 2025 the Type of Risk Impact Implications Response Strategy QC monthly average sampling rate was 30% of the total daily service volume.Establish a closed-loop customer service management Priorities of Customer Service Quality Control (QC):
mechanism covering complaint acceptance issue
resolution feedback and continuous improvement
improving response efficiency and resolution quality.Accuracy of Compliance of
responses related to communication
Strengthen customer service quality management and
Short- business knowledge
language with
internal supervision mechanisms continuously optimise service standards
User medium- Decrease in
service standards and personnel capability development
attrition risk and revenue
and enhance overall service professionalism.long-term
Establish a regular user follow-up and feedback
analysis mechanism incorporating user opinions into
product optimisation and operational improvement
processes to continuously enhance user satisfaction Service attitude and efficiency Monitoring for any non-compliant
and retention. and effectiveness of problem- operations in the customer service
solving techniques backend system
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Building on its existing customer service platform the Company continues to optimise the integrated The Company also continuously strengthens interaction and emotional
service system that combines user support user data analysis user engagement planning and game engagement with users through both online and offline activities. In 2025 we
content output functions. In 2025 the Company further improved the user follow-up mechanism organised 6 large-scale offline events and 2 online interactive events expanding
continuously increasing coverage. The Company systematically summarised and analysed player follow- communication channels with players and further enhancing user engagement.up records on a weekly basis and promptly fed relevant comments and issues back to the operations and
R&D teams. Based on such feedback the operations team verified each item and advanced optimisation
and improvement accordingly promoting the effective incorporation of user demands into product
operations and feature iteration and continuously enhancing user experience and service quality. Metrics and Targets
User Follow-up Performance Data of KingNet Network in 2025
The Company has established clear targets for customer service and complaint
handling and built standardised mechanisms for complaint acceptance investigation
feedback and improvement. It regularly conducts user follow-ups to track handling
effectiveness and satisfaction. This ensures timely response and proper resolution of
456 Follow-ups were conducted twice a week all complaints continuously enhancing service quality and user experience.A total of over thousand with each round covering an online sample of
user follow-ups were conducted 4749 users
Efficiency of customer complaint handling
Target Progress in 2025
generating more than90 100% thousand 9498 resolved within three working days 100%
valid items of user feedback and
suggestions users followed up each week
Satisfaction rate of followed-up users
Target Progress in 2025
with user satisfaction among follow- 37992 Above 90% each month. 91%
up users reaching over 91%
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Data Security and Customer Privacy Protection*
Governance
In accordance with the Cybersecurity Law of the People’s Republic of China the Data Security Law of the People’s Republic of China and the Personal Information Protection Law of the People’s Republic
of China the Company has established a series of policies including the Basic System for Data Management the Data Storage Management System the Data Collection Management System and the
Management System for Information Security Incidents and Emergency Response. These measures continuously strengthen the institutional foundation for standardised data governance.The Company has also established a clear and comprehensive data security and customer privacy protection governance framework ensuring the efficient execution of all related management tasks.KingNet Network Governance Structure of Data Security and Customer Privacy Protection
Level Responsibilities
The CEO makes important decisions related to privacy and data security incidents.Supervision
level
The Vice President of Public Security is mainly responsible for the overall privacy and data security strategy ensuring
that the Company complies with relevant laws regulations and mandatory standards.The Senior Director of the Operation & Maintenance Security Centre formulates privacy policies and related
Management
level procedures ensuring the effective operation of data security and network security mechanisms.The Information Security Department ensures that the Company’s data processing mechanisms are compliant and
Execution
level promptly identifies and blocks any possible privacy and data security issues.
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Strategy Management of Impacts Risks and Opportunities
To better understand the evolving information security profile promptly adjust security strategies During the game development process the Company follows the principles of secure
allocate resources effectively and ensure the continued effectiveness and adaptability of its development assesses privacy design and enhances data security throughout the product
information security management system，the Company identifies assesses and analyses development process.risks related to data security and customer privacy protection.Data Security Protection Measures in Product Development of KingNet Network
Risks in Data Security and Customer Privacy Protection Identified by KingNet Network Measures Details
and Response Strategies
Timeframe Potential The development team adheres to best practices in secure Type of Risk of Impact Financial Response StrategyImplications Secure development conducts regular code reviews and utilises the
development latest security tools for vulnerability detection. It continuously
Strengthen data security protection across practices
Information learns about the latest security standards and threats in the all stages of product development and
security risk industry while timely updating and improving security measures.Short-
Increase in game operations.medium-
compliance
and long- Enhance information security defence The Company assesses privacy design in the early stages of
Reputational coststerm strategies by deploying differentiated
Privacy
design product design identifies potential privacy risks in the data
risk equipment and contingency plans for assessment processing process and implements corresponding measures
various scenarios. to mitigate these risks.
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Data Security Data Security Protection Measures of KingNet Network
The Company attaches great importance to Aspect Measures
information security and data protection. By
focusing on system development technical Strengthen information classification and grading management: Stored data is categorised into personal and non-personal information with high-standard encryption applied to personal data during storage and transmission. Strict access controls
safeguards business continuity assurance incident Management and full-process audit mechanisms are implemented for all categories of data to ensure traceability of access activities.response and employee awareness the Company System and Obtain information security system certifications: The Company has obtained multiple certifications including classified
has established a full-process security management Institutional protection assessments communications security assessments and data security risk assessments. These certificationssystem covering “prevention–monitoring–response– Development cover all Company data.improvement”. Through the combined application
Obtain the data governance system certification: The Company has obtained ISO/IEC 38505-1:2017 Governance of data
of institutional frameworks and technical measures systems certification.the Company continuously enhances its data Strengthen vulnerability management and threat monitoring mechanisms: The Company has established regular vulnerability
security protection capabilities and risk response management and threat monitoring mechanisms adopting a strategy combining periodic scanning with real-time monitoring.ensuring the security of information assets and Technical Full security scans are conducted on information systems every week while real-time monitoring is carried out for server
security and hosts to identify security risks promptly. The Company also connects to external professional threat intelligence systems stable business operations.business to dynamically obtain global attack patterns and security intelligence and continuously carries out threat assessments to enhance early warning and defence capabilities against emerging cyberattacks.continuity
assurance Adopt multi-location real-time backup strategies: Relying on cloud-based distributed storage technology the Company has
built a highly reliable off-site disaster recovery system. All business operations have been fully migrated to the cloud to ensure
data integrity as well as the timeliness and continuity of business operations in the event of unexpected incidents.Proactive Measures:
The company regularly conducts safety assessments vulnerability checks and optimization of protection measures
continuously strengthening the security guarantee capabilities of its information systems even though no data leakage has
occurred.Emergency
Response and Reactive Measures:
Handling of Develop and dynamically update emergency response plans. In accordance with the Management System for Information
Data Leakage Security Incidents and Emergency Response the Company defines processes for incident reporting graded response
Incidents evidence preservation investigation auditing and corrective actions to ensure timely response and effective risk control.Establish a 24/7 monitoring and response mechanism: The Company has implemented round-the-clock monitoring and
employee reporting mechanisms. Upon detection of anomalies graded response procedures are initiated prioritising
business recovery and forming a closed-loop management system through independent audits.Employee data security awareness training: All new hires are required to undergo data security awareness training covering
Enhancement personal information protection social engineering laws and regulations and other related topics. The Company organises
of data security at least one form of data security training for employees each year. It also assesses employees’ data security awareness from
awareness time to time through spot checks and other means so as to ensure the effective implementation of relevant requirements.
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The Company attaches importance to information security management for suppliers. It has ISO/IEC 38505-1:2017 Governance of Data Systems Certification
established a data security management system for business partners and carries out strict
qualification reviews and information security due diligence on its information technology-
related suppliers with a particular focus on assessing their technical capabilities personnel
management equipment support and compliance performance. The Company incorporates
data security into information technology-related suppliers onboarding and ongoing
management processes requiring suppliers to provide certification materials such as classified
protection of cybersecurity assessment reports and ISO 27001 certification and evaluates
their security management and response capabilities by reviewing vulnerability scanning
reports and historical remediation records.In addition the Company conducts regular security audits of its information systems including
more than four external independent information security audits each year covering classified
protection of cybersecurity assessments communications protection assessments data
security risk assessments and annual audits for listed companies.Privacy Protection
In accordance with relevant laws and regulations the Company has formulated a public and
transparent Privacy Agreement covering all of its business operations setting out for users
their relevant rights as well as the rules governing the collection use storage and sharing of
data. The Company has also adopted a range of protective measures to prevent the leakage
loss or unauthorised access to users’ personal information.In addition the Company actively implements
the requirements of the Measures for Personal
Information Audit issued by the Office of the
Centra l Cyberspace Affa i rs Commiss ion
incorporating personal information compliance
audits into its audit plans reporting relevant
information as required and establishing a regular
audit mechanism combining institutional and
technical safeguards.
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Metrics and Targets
User Privacy Protection Measures of KingNet NetworkIn 2025 the Company achieved the goal of “Zero data breachStage Measures incident” and effectively protecting data security and user
privacy.The Company uses clear and understandable language to inform users about the data collector
purposes of collection types of personal information collected processing methods and retention Metrics and Targets on Data Security and
periods ensuring users’ right to be informed.Customer Privacy Protection of KingNet Network
Data The Company grants users autonomy over their data allowing them to modify correct or delete their personal
collection information through preset methods and seek assistance via website email or phone if needed.Number of Data Breach Incidents
The Company adheres to the principle of data minimisation by collecting only the personal data
necessary to support game service operations.Target Progress in 2025
Except for collecting game-related survey information through third-party research agencies to improve
products and provide personalised services the Company does not share personal data with third parties 0
without user consent. 0
Data The Company encrypts personal information during storage and employs https encryption to prevent user
transmission data from being stolen during transmission and storage. Coverage rate of employee training and awareness
and storage on data security and privacy protection
Target Progress in 2025
The Company implements access control policies with only authorised personnel having access to
sensitive data and regularly reviews and updates employee access permissions to maintain the principle 100% 100%
of minimum authorisation.Data
use and Employing the de-identification technique the Company removes individual identity information during
retention data analysis and processing to ensure that data cannot be restored to specific individuals during use.The Company retains personal data only for the required period and commits not to rent sell or share
personal information with third parties for purposes beyond fulfilling transactions or services.
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Protection of Minors in Cyberspace In July 2024 KingNet Network established a Working Committee for Caring about the Next Generation with the Company’s Party Secretary and General Manager
serving as the director of the committee. The Party Committee the Working
KingNet Network strictly complies with the Law of the People’s Republic of China on Protection of Minors Committee for Caring about the Next Generation and the Volunteer Association
the Notice of the National Press and Publication Administration on Preventing Minors from Becoming adhere to reform and innovation follow the laws of youth growth continuously
Addicted to Online Games and the Notice on Further Enhancing the Administration to Effectively Prevent innovate working methods and enrich working vehicles to jointly create a favourable
Minors from Becoming Addicted to Online Games and other laws and requirements on the online social environment for the healthy growth of minors.protection of minors. The Company has continually reinforced its protection system for minors enhancing
and refining its anti-addiction system. It has actively participated in the development of relevant standards KingNet Network Juvenile Legal Protection Station Case
and industry collaborations creating a clean network environment for minors. Officially Launched in Yunnan
Our game products primarily serve adult users. During IP introduction and game design stages minors In 2025 KingNet Network held unveiling ceremonies for its Juvenile
are expressly not identified as the target audience thereby reducing the risk of gaming addiction among Legal Protection Station at three schools in Longling County Baoshan
minors at the source. Since September 2021 we have disabled registration for minors. Except for a very City Yunnan Province namely Xiaotianba Primary School in Zhen’an
small number of existing minor users there have been no new minor users in our self-operated game Town Dashuigou Primary School in Zhen’an Town and Changjing
products. We actively fulfil our social responsibility as a game company engage in initiatives related to the Primary School in Lameng Town marking the official implementation of
the programme in Yunnan.protection of minors in cyberspace and safeguard their healthy development.The programme was jointly initiated in 2024 by the Company and
KingNet Network’s Actions for the Protection of Minors in Cyberspace Grandall Law Firm (Shanghai) focusing on systematic support for
minors’ legal education and rights protection. As of the end of the
Action Details reporting period the programme had delivered over 2000 minutes of
online legal education courses for minors benefiting more than 900
Strengthen real- The Company has fully integrated with the real-name verification system for teachers and students. Going forward we will continue to strengthen
name verification online game anti-addiction management and does not provide online game minors’ legal awareness and self-protection capabilities through legal
management services to users who are not verified or to minors in any form. aid and educational programmes building a solid safeguard for their
healthy development.The Company displays an age prompt for game products in prominent
Age prompt
positions such as game icons official websites and main game interfaces.The Company has established a dedicated content review team to regularly
Enhance content inspect all game products under the Company ensuring that no harmful
review content affecting the physical or mental well-being of minors is present.The Company sets up “Online Harmful Information Reporting Area” and
Establish dedicated “Shanghai Internet Illegal Information Reporting Centre” on the XY Game
reporting channel Platform and the home page of its official website. Unveiling Ceremony
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Supplier Sustainability Management
The types of suppliers for KingNet Network mainly include service engineering construction The Company collaborates with suppliers to build a clean and transparent supply
comprehensive materials. The Company complies with relevant laws and regulations such as the Bidding chain. We have issued the Letter of Integrity Commitment to All Partner Suppliers
Law of the People’s Republic of China and the Civil Code of the People’s Republic of China and has and signed the Integrity and Honesty Commitment with suppliers clarifying to
formulated internal policies including the Procurement Management System the Procurement Process suppliers and business partners its attitude of zero tolerance towards corruption.Management Rules and the Supplier Management Rules. These policies are aimed at regulating key We conduct supplier training sessions on an ad hoc basis to strengthen their
stages including supplier onboarding relationship management evaluation and exit thereby building a understanding of our procurement policies and promote compliant procurement
systematic management mechanism covering the entire supplier lifecycle. practices. The Company also provides suppliers with the contact email of the
procurement supervision department allowing them to report any corruption-
In 2025 the Company introduced a digital procurement management system to improve the transparency related clues identified during cooperation thereby jointly fostering a sound and
of procurement processes and the standardisation of management while strengthening its capabilities for ethical business environment.dynamic monitoring and data-driven management across all stages of the supplier lifecycle.Supplier Lifecycle Management of KingNet Network
Stage Details
In 2025
Before engaging suppliers the Company conducts background checks on them including
Admission qualification audits and on-site inspections to ensure that their capabilities meet procurement
needs while also examining their performance in environmental and social responsibilities.The Company employs differentiated supplier management and takes measures such as interviews
and hierarchical management to incentivise and guide some key suppliers.Relationship
Management
Supplier training is delivered through various forms including on-site supplier visits and pre-tender all 51 new suppliers signed the Integrity and Honesty Commitment
meetings. In 2025 more than 40 suppliers received training. which has been signed by all suppliers introduced since the
establishment of the supplier management system.The Company has established a regular supplier performance assessment mechanism
incorporating ESG-related factors into assessment criteria. In 2025 supplier performance
Assessment
assessments were conducted and rectification notices were issued to four suppliers based on the
results driving corrective actions and continuous improvement.If a supplier violates business ethics or if the Company suffers significant losses due to the
Exit supplier’s inability to fulfil its supply obligations the Company will immediately terminate the
cooperation with that supplier.
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Supply chain security is of vital importance to the Company’s stable operations. The Company has established an efficient supplier risk management system covering procurement plan
management process control and performance management. It also enhances supplier stability and risk resilience by signing framework agreements maintaining appropriate inventory and
diversifying supplier resources.The Company has established a supplier data security management mechanism formulated policies such as the Project Outsourcing Management Regulations and signed confidentiality
agreements with suppliers to clarify the respective responsibilities and obligations of both parties in relation to data protection thereby working together with suppliers to build a secure and reliable
data management ecosystem.In 2025
all 51 new suppliers signed the Confidentiality Undertaking with the Company which has been signed by all suppliers introduced since the establishment of the supplier
management system.The Company attaches great importance to the lawful rights and interests of suppliers and strictly implements payment schedules in accordance with contractual terms and its internal payment
management policies so as to ensure timely and full payment. The Company continues to optimise its accounts payable management processes strengthen controls over reconciliation and
payment milestones prevent overdue payment risks and maintain fair impartial and stable cooperative relationships thereby supporting the healthy development of SMEs and fostering a sound
and healthy industry ecosystem.
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Employment and Protection of Employees’ Rights and Interests
KingNet Network has established diverse talent recruitment channels fully respects workplace diversity among employees safeguards employee rights interests and benefits and strives to create
a warm healthy and comfortable working environment for all employees.Employee Recruitment and Employment
The Company primarily employs full-time employees under labor contracts.Abiding by applicable laws and regulations such as the Labor Law of the People’s Republic of China the Labor Contract Law of the People’s Republic of China and relevant labour regulations of
the Hong Kong Special Administrative Region the Company strictly prohibits child labour and forced labour ensuring lawful and compliant employment. In 2025 the Company didn’t experience
labour violations.The Company is committed to fair recruitment providing equal employment opportunities to all job applicants. In 2025 we recruited a total of 624 individuals through online recruitment recruitment
of foreign personnel outsourcing personnel internal referrals and campus recruitment and created flexible employment opportunities by hiring part-time employees. As of the end of the reporting
period the Company had a total of 2248 employees.Talent Recruitment Strategy of KingNet Network
Online recruitment platforms Dedicated recruitment
Post job openings on major recruitment websites making Establish a specialised team to handle recruitment
full use of free features to minimise recruitment costs. tasks conduct detailed data tracking ensure timely
communication and feedback and regularly update
Channel Process and recruitment progress and statistics.Strengthened internal referrals Recruitment expansion and efficiency optimisation Process optimisation
optimisation Strategy enhancement
Encourage employees to recommend suitable candidates Accelerate CV screening and interviews and
through their personal networks. provide timely feedback on interview outcomes.Social media platforms Targeted talent identification
Leverage mainstream social platforms such as Maimai Conduct comprehensive assessments of candidates
and Tiktok to identify target candidates maintain regular based on educational background academic major work
engagement and build a long-term talent pipeline. experience skills and personality traits.
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To bridge the gap between planned recruitment headcount and actual talent demand the Company has continuously strengthened annual headcount management. Each department submits
annual staffing plans and quarterly demand forecasts and the Human Resources Centre conducted recruitment forecasting and formulated recruitment plans to enhance efficiency and
effectiveness based on these submissions and business development needs.In 2025 the Company optimised and improved the background inspection process for prospective employees and formulated the Rules for Handling Abnormal Background Checks of Candidates
categorising risk types and levels and applying differentiated approval procedures and HR actions accordingly to further mitigate recruitment risks and ensure talent quality.The Company upholds the principles of fairness impartiality and transparency and is committed to fostering an equal and inclusive working environment. To improve the quality of campus
recruitment and attract outstanding young talent the Company has established broad cooperation channels with universities. We maintained partnerships with Shanghai University East China
Normal University Donghua University and Shanghai Normal University and newly established cooperation with East China University of Political Science and Law for summer internships
engaging in in-depth collaboration in areas such as talent recommendation internships and employment background checks and user research. In 2025 the Company held five on-campus dual-
selection job fairs for graduates and interns at partner universities with a conversion rate of 12% and participated in one social dual-selection job fair with a conversion rate of 9%.Industry–Academia Collaboration Initiatives of KingNet Network in 2025
Action Details
Partner universities regularly recommend outstanding student resources to the Company and the Company in turn offers internship opportunities to
Joint internship base
university students.User research Students from partner universities are invited to participate in user research and testing projects for new game releases enabling the collection of
collaboration precise user insight data.Campus ambassadors from various universities are mobilised to promote recruitment posters and new game research activities within active student
Community promotion
communities enhancing the Company’s employer brand influence.Connections are established with university faculty members to verify the academic performance and teamwork of student interns ensuring the
Background checks
authenticity of the information provided.The Company has deepened its collaboration with Shanghai Film Academy by conducting live streaming activities on campus providing students with
Live-streaming base
more opportunities for practical social experience.
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Protection of Employees’
Rights and Interests
The Company has formulated regulations such
as the Remuneration Management Measures the Remuneration and Benefit System ofRemuneration
Outsourced Personnel Management Measures KingNet Network
Care benefits
the Employee Behaviour Management Measures Basic salary Baby Care Room in office
and the Employee Anniversary Gift Management Project bonus areas
Measures. In 2025 the Company revised the Variable performance Birthday gifts and festive
Attendance Management Pol icy by adding bonus (including Routine benefits gifts
provisions on caregiver leave eligibil i ty and Guaranteed benefits Health benefitsnon-sales employees Annual paid welfare
application procedures to support balance between and junior employees) Social insurance and Supplementary Anniversary gifts for leave (paid annual leave
life and work. We also revised the Employee Club Other cash incentives housing provident commercial insurance employees exceeding that stipulated
Support Plan to clarify funding support mechanisms
and subsidies fund paid in full (including insurance Meal and transportation by the state)
and operational standards enhancing the quality for including serious allowances Paid parental leave
and sustainability of employee activities and diseases accidental Department team and caregiver leave
enriching corporate culture. injuries and outpatient building and annual (applicable to employees
and emergency development-oriented
The Company protects the legitimate rights and in Shanghai)
hospitalization) tourism
interests of employees pays their wages on time Annual ceremony
Annual health check-ups Interest clubs
and has established a remuneration system that benefits and New Year’s
Cultural and sports
balances market competitiveness and internal red envelopes
fairness. We implement equal pay for equal work activities
regardless of gender and provide remuneration The Company complies with national working hour regulations and safeguards employees’ rights to rest and leave. We implement a flexible
aligned with job value individual capability and working system allowing staff to adjust working hours on working days to achieve a dynamic work–life balance. For positions suitable for
performance contribution. remote collaboration we offer work-from-home options. Where overtime is required we set limits on overtime hours to protect employees’
physical and mental well-being.The Company makes full and timely contributions
to social insurance and housing provident funds We respect and embrace diversity creating an inclusive and friendly workplace. We maintain a zero-tolerance policy towards any form of
for employees under labor contracts in accordance discrimination or harassment. The Employee Behaviour Management Measures clearly defines reporting and complaint procedures and
with applicable laws and regulations. In addition to individuals engaging in harassment (including but not limited to pranks workplace bullying inappropriate conduct or sexual harassment) are
statutory benefits a range of non-statutory benefits subject to termination of employment thereby ensuring a fair and clean workplace.is provided to all such employees including meal
allowances transportation allowances annual The Company places great emphasis on employees’ physical and mental well-being and promotes the concept of healthy working. We strive
medical examinations supplementary commercial to create a comfortable workplace environment. Based on our assessments there are no significant occupational health risks among our
insurance and festive benefits. employees. In 2025 the Company adopted various measures to safeguard employee health and well-being.
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Healthy Workplace Management Measures of Case Sports and Health Seminar Case Support for Employee Club Activities
KingNet Network
The Company p l aces g rea t impo r tance The Company adheres to a people-oriented
* Established a workplace inspection mechanism to on occupat ional heal th and sports safety development philosophy and systematically supports
promptly identify potential risks associated with office management introducing professional medical the establishment of employee interest clubs to
equipment. resources to enhance employees’ health literacy. enrich employees’ cultural life alleviating their work
* Purchased supplementary commercial insurance On 25 April 2025 we held a themed seminar titled pressure and enhancing their physical fitness.covering critical i l lness accidental injury and Exercise and Fitness: Balancing Benefits and
outpatient and inpatient medical treatment. Risks delivered by an associate chief physician In 2025 we operated 8 clubs across Shanghai
* Organised regular health check-ups (including pre- from Huashan Hospital Aff i l iated to Fudan headquarters and Guangzhou Branch covering
employment and annual physical examinations) University. The seminar systematically introduced activities such as badminton dance swimming
achieving 100% employee coverage. scientific exercise principles and injury prevention billiards mobile gaming board games and film. Over
* Held regular “On-site Doctor Visits” to provide knowledge effectively strengthening employees’ 220 events were organised throughout the year
employees with consultations on general health health awareness and risk prevention capabilities. attracting more than 2000 participants generating
issues family health concerns and interpretation of strong engagement and effectively enhancing team
medical reports. cohesion and organisational belonging.* Organised menta l heal th seminars to help
employees understand manage and overcome
anxiety thereby safeguarding mental well-being and
enhancing quality of life and work.* Provided employees with free psychological
counselling support.* Provided employees with a range of recreational
facilities and regularly organised diverse cultural and
sports activities. Training Scene Club Activity Highlights
The Company is committed to fostering harmonious labour relations and actively engages in democratic communication with employees. Before revising major policies that concern employees’ vital
interests such as personnel management regulations the Company seeks feedback from all employees. In designing the benefits system we also prioritise employee input by involving them in
preliminary voting for holiday benefits and conducting satisfaction surveys after benefit implementation. These efforts effectively enhance employees’ sense of participation and belonging.In accordance with the requirements of the latest Company Law of the People's Republic of China the Company has added an employee representative Director to the Board. In June 2025
we convened an employee representative congress to elect the employee representative Director for the fifth Board effectively facilitating employee participation in democratic decision-making
management and supervision and better safeguarding employees’ legitimate rights and interests.
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Human Capital Development*
KingNet Network adheres to a people-oriented development philosophy placing employees at the core of its business strategy. We continuously improve our talent development and training
systems enhance the attractiveness of our employer brand and strive to create a competitive environment for talent growth.Governance Strategy
The Company a t taches great impor tance to ta lent Talent is the core resource in the game and internet industries. A comprehensive training system and well-designed incentive
development. The CEO is responsible for coordinating all mechanisms help improve employee engagement and efficiency enabling employees to fully realise their potential and creativity.human resources-related management work. A training Conversely inadequate human capital management may lead to insufficient skills talent loss and reduced efficiency increasing
and culture department was established under the human recruitment and training costs and raising overall operational costs. The Company identifies assesses and analyses the risks
resources department to serve as the management and opportunities associated with human capital development to better address the risk of core talent loss and seize development
department for the company's training activities. These efforts opportunities.aim to continuously improve the standardisation of human
resources management provide employees with stable and Risks/Opportunities in Human Capital Development Identified by KingNet Network and
reasonable career development prospects and attract and Response Strategies
retain top talent.Human Capital Development Policy System of KingNet Network Timeframe of Potential Financial Type of Risk/Opportunity Response Strategy
Impact Impact
Aspect Policy Name
Formulate a talent development strategy
Short- Decrease in
Establish a talent pool for future staffing
medium- revenue
Risks Loss of core talent needs
Employee Management Measures for Corporate and Increased Enhance communication and care for
Training Trainers and Internal Training Courses long-term operating costs employees at risk of departure
Employee Performance Management Measures
Assessment Attendance Management Policy Short- Conduct strategic recruitmentIncreased revenue
Enhanced innovation medium- Improve the training system
Opportunities Reduced operating
capability and Optimise employee incentive
costs
long-term mechanisms
Employee Promotion Management Measures
Promotion Position System Management Measures
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Management of Impacts Risks and Opportunities
Employee training
To meet the learning needs of all employees at different stages In 2025 the Company optimised and upgraded the training system by enriching and diversifying training content aligning it more
of their career development the Company has established closely with employee needs and business realities and enhancing its relevance and practicality to better support employee
an internal online learning platform called “Sky City” and growth and business development.developed a multi-level training system. Key Measures for Optimising KingNet Network’s Training System in 2025
Multi-level Employee Training System of KingNet Network Measure Details
Introducing extensive To enrich employees’ knowledge base the Company selected courses based on actual needs Training and Culture Department – Overview of Training and releases more than 3000 courses to the learning platform for self-directed learning and
and Culture Initiatives knowledge resources development.Management
level promotion M plan Core courses of training programmes were designed and developed by dedicated trainers based
In-house
Lecturer management on real workplace scenarios faced by employees reducing reliance on external providers while development of
On-job training effectively addressing business-specific challenges and ensuring alignment with operational Knowledge Inheritance Off icer and training content needs.external training
Newcomer Training for newcomers from social Empowering All training content was published transparently through the Company’s training calendar. Business
training recruitment regional branches departments can nominate participants based on their needs and courses were delivered across
across locations regions to ensure efficient resource sharing and flexible coverage.Sky City Learning Platform
Online training The Company recognises the significant value and potential of AI and has implemented dedicated
Launch of new courses Closer integration
data organisation project generation AI training programmes to drive technological upgrades and innovative applications. We also
with AI utilise AI-powered course development tools to reduce the threshold and cost of internal training
Training operation content production thereby improving the efficiency and quality of course development.Basic work
Training assistance course development
learning analysis etc. We have established structured onboarding and mentoring programmes for university graduates and new employees. In
Anniversary ceremony activities addition to induction training and professional development new employees are assigned dedicated mentors and provided
with personalised learning plans to help them quickly adapt to their roles and integrate into teams.KingNeter Annual Journal
The Company is committed to building a learning-oriented organisation and provides a diverse range of training programmes
Culture division
Club operation for employees covering various dimensions such as leadership and business training. These programmes are designed
to meet employees’ differentiated learning needs. The implementation of training not only supports employees in achieving
Events competitions funding support personal growth but also serves as a solid foundation for the Company’s sustainable development by cultivating a robust talent
problem settlement etc. pipeline.
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Key Training Programmes and Outcomes of KingNet Network in 2025
Programme Name Nature of Programme Details Results
The programme combines lectures and practical exercises to help participants comprehensively enhance their The programme ran for a total duration of three months. A total
managerial mindset stimulate self-awareness clarify their understanding of roles and experience diverse of 31 employees participated in the programme with 7 training
M Plan Leadership training
management approaches and insights to elevate their leadership perspective. In particular Becoming an courses delivered over 11.5 hours and a total of 173 attendances
Interviewer emphasises that managers must maintain fairness and impartiality during interviews. recorded.PPT design and This programme aims to enhance employees’ visual communication skills in work reporting project presentations Targeted business A total of two sessions were delivered with a training duration of
and external communication. It systematically covers presentation structure visual layout colour techniques and
improvement training three hours and 11 participants.efficient tool usage enabling employees to create professional concise and impactful presentations.
2026 China TTT
In the context of digital transformation the Company organised training personnel to attend the 2026 China TTT
Learning Technology
External training Learning Technology Innovation Conference. Through thematic forums and industry exchanges participants gained Attended an out-of-town training session for a total of 4 hours.Innovation
insights into the application trends of AI and other emerging technologies in learning and talent development.Conference
In response to the need for enhanced marketing capabilities among certain business teams the Company curated
Marketing capability Digital transformation relevant courses via the online learning platform and developed structured learning packages. Employees were A total of 11 courses were included with 12 employees participating
enhancement training encouraged to utilise fragmented time for online learning with progress and completion tracked through the and a total learning duration of 2.16 hours.platform.Six online training sessions were conducted with 245 employees
As an integral part of the Company’s talent development system new employee training aims to help new hires
New employee assigned online learning plans; ten offline sessions were held with
New talent development systematically understand corporate culture organisational structure and business processes thereby accelerating
training a total of 148 participants and an average satisfaction score of 4.98.their integration into teams and enhancing their job readiness.(Out of 5 points)
Focusing on areas such as human resource management capabilities and AI-enabled business practices the
Professional skills Company organised employees to participate in external training and industry exchange activities including A total of 5 external training sessions were attended with 6
External training
enhancement professional forums and AI application training to continuously enhance professional competencies and innovation participations and a cumulative duration of 53 hours.awareness.
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Employee Assessment
The Company has established a systematic performance assessment system aimed at building a more scientific talent
development ecosystem and fulfilling our responsibility for employees’ long-term growth. Performance assessments areconducted on a quarterly basis for all employees forming a closed-loop process of “performance plan development – performanceplan review – performance self-assessment – performance assessment – performance approval – performance communication”.Key Elements of Performance Assessment of KingNet Network
Measures Specific Content
Goal-based Employees communicate with their supervisors to set quarterly goals aligned with departmental and corporate
management objectives. Goals may be dynamically adjusted based on business needs with a focus on key outcomes.Group Photo of M Plan Training
Multi- Assessments are conducted through direct supervisor evaluations and higher-level approvals covering not only
dimensional
performance performance results but also management behaviour teamwork professional competence and behavioural
assessment attributes.Team-based Team performance is incorporated into managers’ evaluations to strengthen accountability for team development
performance
assessment while individual employee evaluations consider contributions and collaboration within the team.The Company emphasises continuous communication and feedback throughout the process including goal
Agile alignment at the beginning of the quarter mid-quarter reviews and coaching and formal end-of-quarter
dialogue discussions. This ensures timely resource support and fosters a continuous management support cycle rather
than a one-off evaluation.Training Scene of Becoming an Interviewer The Company manages performance based on the principles of openness fairness impartiality objectivity and healthy
competition. A performance feedback and communication mechanism has been established and employees can access their
appraisal results via the OA system. For employees whose performance results are unsatisfactory their immediate supervisors
are required to conduct performance interviews identify areas for improvement and provide guidance on how to improve.
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Meanwhile the Company has established a performance assessment appeal mechanism with a clear appeal process. If any In 2025 the Company updated the Promot ion
employee has any objection to the assessment results he/she may submit a written appeal via email within the specified time Management Measures by revising promotion principles
frame. The relevant department will investigate and handle the appeal within one week of receiving it. The feedback on appeal cycles criteria and processes thereby establishing a
handling opinions will be provided to the employee and his/her direct supervisor. The Company requires that personnel involved clear transparent and predictable career development
in appeal investigations maintain confidentiality regarding case details and involved parties. Any violation of confidentiality pathway and providing policy support for employees’
requirements will be subject to disciplinary action and retaliation against employees who file appeals is strictly prohibited. long-term career growth.Key Directions of Upgrade of the
Performance Appeal Process of KingNet Network
Promotion System of KingNet Network in 2025
Giving Clear standards
Proposing an Communicating Submitting a feedback Investigating the
objection by an on appeal Further clarified the promotion with the superior written appeal appeal
employee handling criteria to make career development
opinions
paths more transparent.Diverse evaluation
Employee Promotion Enriched the evaluation methods to
comprehensively assess employees’
Valuing the personal development of its employees the Company provides employees with fair and equitable promotion contributions and potential.opportunities and diverse career development paths. The Company’s promotion system is based on performance competence
and potential with professional and managerial tracks established to provide development opportunities for employees with
different expertise and career orientations. Forward-looking planning
Identified current gaps and
Basic Principles of Employee Promotion at KingNet Network
established talent pipelines for key
positions enabling early planning
and providing stronger promotion
support for prepared and capable
employees.Strategic orientation Performance-first Tiered promotion Openness and fairness
focus on core capability alignment merit-based advancement and demotion merit-based competition
business
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The Company has established a sound career development system and formulated promotion programme plans based on management level decisions. Through mechanisms such as merit-based
nominations review and inspection and promotion decisions it provides employees with fair and equitable promotion opportunities and vast career development prospects.Promotion Mechanism of KingNet Network
Review and Inspect
Merit-based Nomination Promotion Decision
The Human Resources Centre leads department
heads and internal experts in various professional
Department heads check team members and select fields to establish a promotion review team.employees who meet the promotion nomination The promotion review team uniformly reviews and The Human Resources Centre summarises the
criteria and are suitable for the corresponding job inspects the promotion candidates based on the review and assessment opinions and submits them
level. Job Qualification Standards and the review opinion to the management level for decision-making.The Human Resources Centre reviews and serve as an important reference for the promotion
approves the nomination suggestions from each decisions.department based on unified standards and Each promot ion candidate presents h is /her
determines the promotion candidates. achievements over the past year through a work
report demonstrates his/her professional abilities and
professional conpetence and responds to questions
from the judges during the defense session.
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Talent Attraction and Retention Metrics and Targets
To attract and retain core talent since 2022 the Company has launched three phases of stock
option incentive schemes aligning shareholder interests corporate development and employee
value and establishing a shared-interest and risk-sharing mechanism that effectively stabilises With the goal of “strengthening cohesion among KingNet employees” the Company has
core teams and strengthens the talent foundation for long-term development. established human capital development metrics and targets. Anchored in business needs we
continuously enhanced the relevance and practicality of employee training comprehensively
Implementation of Stock Option Incentive Schemes of KingNet Network enhanced employee competencies and built a vibrant creative and competitive team.
2022 Stock Option Second Phase of Third Phase of the
the Employee Stock Employee Stock
Incentive Scheme Ownership Plan Ownership Plan Metrics and Targets on Human Capital Development of KingNet Network in 2025
A total of 19714415 A total of 34 employees A total of 56 employees Indicator Targets Progress in 2025
shares were granted to participated in the second participated in the third
21 recipients. As of 27 phase of the plan holding phase of the plan holding
January 2025 all shares 5041785 shares. As of 20 31615550 shares. As 100%
had been fully exercised. January 2025 the sales of 20 January 2025 the 100%
and distr ibut ion of the sales and distribution of Coverage of employees Completed
second phase had been the unlocked portion had in training
completed. been completed.The Company has established the Reward System for Service Inventions and Technological 15.23 hours
Innovation Projects providing cash rewards to employees who successfully obtain patents. 12hours
Average training hours CompletedIn 2025 in accordance with relevant policies and actual application conditions the Company
granted special bonuses to a total of 17 employees amounting to RMB 48 thousand per employee
demonstrating our recognition of innovative talent and enhancing the innovation motivation of
core technical employees.
0
Through strategic recruitment and the establishment of talent pools the Company has 0
continuously strengthened the talent pipeline to enhance organisational resilience. Number of labour Completed
Talent management will be continuously refined to better meet the Company’s strategic rights violations
development needs.
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Community Contribution and Rural Revitalisation
KingNet Network promotes warmth and positive impact by engaging in public welfare and volunteer service activities contributing to comprehensive rural revitalisation. These initiatives help
uncover the Company’s future-oriented positive potential and create sustainable value for all stakeholders aligning economic value with social value.Governance
Actively responding to the Opinions of the General Office of the CPC Central Committee and the General The pomegranate symbolises ethnic unity and coexistence while the
Office of the State Council on Improving the Modern Enterprise System with Chinese Characteristics the “firefly” represents the subtle yet illuminating spirit of volunteers.Company has integrated corporate social responsibility into all aspects of operations contributing to green
development rural revitalisation public welfare and cultural inheritance. The name “Liuying” (homophonous with “retaining images” in
Chinese) symbolises preserving the spirit of mutual assistance
The Company complies with relevant laws and regulations including the Charity Law of the People’s among ethnic groups through digital technologies reflecting the
Republic of China and the Regulations of Shanghai Municipality on Volunteer Services. Under the unified Company’s internet DNA and emphasising the importance of
leadership of the Chief Executive Officer the Company has appointed a Chief Sustainability Officer and recording and inheriting this spirit in the digital era.established a Social Responsibility Team within the Board Office to coordinate advance and implement
social responsibility-related initiatives.In 2025 based on the Volunteer Management System of KingNet Network the Company formulated four
new internal policies including the Constitution of KingNet Network Volunteer Association the Volunteer
Record Management Regulations of KingNet Network Volunteer Association the Volunteer Training
Regulations of KingNet Network Volunteer Association and the Volunteer Registration System of KingNet
Network Volunteer Association. The Company also introduced an official real-name volunteer registration
system promoting the systematisation standardisation and professionalisation of volunteer services.In 2025 the Company upgraded its volunteer brand and launched the new name “Liuying” establishing
an ethnic minority volunteer service team in addition to the existing teams in Shanghai Hangzhou and
Guangzhou. Going forward the Company will further unite employees with clearer direction engage in
Brand VI Identity and Symbolism of the “Liu Ying”
public welfare and convey corporate warmth.
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Strategy Management of Impacts Risks and Opportunities
To explore innovative models of public welfare and enhance the influence As a well-known online game company in China the Company leverages its core business strengths to explore an
of the “KingNet’s Love Public Welfare” brand the Company analysed the innovative development path combining “Games + Public Welfare”. At the same time we actively collaborate with
impacts and opportunities related to community contribution and rural stakeholders to build a symbiotic model that integrates corporate growth with responsible business practices.revitalisation. Going forward the Company will further unite employees with
clearer direction engage in public welfare and convey corporate warmth. Public Welfare and Charity
The Company has long been committed to public welfare and charitable activities providing sustained support
Opportunities in Community Contribution and Rural Revitalisation for the protection and inheritance of traditional opera and intangible cultural heritage fulfilling our corporate social
Identified by KingNet Network and Response Strategies responsibility and contributing to sustainable social development.Potential Overview of Public Welfare Projects of KingNet Network in 2025
Type of Risk/ Timeframe
Financial Response Strategy
Opportunity of Impact Programme Name Content
Impact
Completely integrate with
the main business to The “Haisi New Space” Theatre Incubation Programme aims to discover nurture and incubate newResource Short- and Increased carry out public welfare “Haisi New talents and original works in innovative forms of Chinese opera and interdisciplinary productions.dispersion medium operating and charity activities Space” Theatre In 2025 five representative works reflecting Quanzhou culture and local opera characteristics were
and mismatch term costs improving resource Incubation selected and incubated and presented on international stages and major art festivals.Programme
utilization efficiency.Into plateau regions:
Medium- Innovative developmentEnhancing During public welfare visits to Sichuan and Qinghai the Company delivered eight sessions of the “KingNetand long- model of Games + Publicbrand value Crafts and Qubits” intangible cultural heritage handicraft courses to more than 400 ethnic minority
term Welfare. students. Under the theme “Intangible Cultural Heritage Gathering: Building Ethnic Bonds Together”
Organise diversified public the programme integrates cross-regional intangible cultural heritage teaching revitalising traditional
welfare and charitable craftsmanship within the context of “strengthening the sense of a Chinese national community” andStrengthening Medium- Reduced activities. “KingNet Crafts and promoting the living inheritance and innovative development of traditional culture.organizational and long- operating Support high-quality Qubits” Intangible Into communities:
cohesion term costs development in ethnic Cultural Heritage The Company’s “KingNet Liuying” Volunteer Service Team delivered a series of public welfare courses
minority regions. Public Welfare titled “Intangible Cultural Heritage in the Community” at the summer care programme of the Qianjiang
Establish an emergency Project
Century City Police Station under the Xiaoshan District Public Security Bureau in Hangzhou as well
Accessing as at the summer care programme of Puhui Primary School in Minhang District Shanghai. Centred
collaborative Short-term response and disaster on the theme “Intangible Cultural Heritage Gathering: Building Ethnic Bonds Together” the series
resources relief mechanism. introduced young participants to the hands-on crafting of Yunnan’s “Wamao” (roof guardian figurines)
and Guizhou’s “Huangping Clay Whistles” allowing them to experience the warmth of intangible cultural
heritage and appreciate the vibrant charm of multi-ethnic traditions.
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Rural revitalisation Volunteer Services
The Company actively responds to the call to “promote comprehensive rural revitalisation” by Through standardised management and project-based operations and with the Volunteer
focusing on areas such as care for girls educational empowerment and livelihood support Association as the carrier the Company has gradually established a comprehensive volunteer
providing rural children with a better growth environment and injecting momentum into the service system building the “Liuying” volunteer brand and forming a public welfare model with
sustainable development of rural areas. characteristics of an internet enterprise. As of the end of the reporting period the Company had
Key Rural Revitalisation Empowerment Projects of KingNet Network in 2025 a total of 184 registered volunteers including 21 volunteers from ethnic minority groups.The Company collaborated with the Communist Youth League Committee of
Girls’ Escort Leibo County Liangshan Prefecture Sichuan Province to donate 200 copies
of KingNet’s of the Girls’ Escort of KingNet’s Love – Healthy Education Mini-Classroom Case Supporting the 8th China International Import Expo with Diverse Volunteer Efforts
Love: Rural handbook. The handbook focuses on topics such as girls’ physical health
Girls Protection gender awareness and self-protection. Through a combination of text
Charity Project images and case-based guidance it helps local girls develop healthy and During the 8th China International Import Expo (CIIE) the Company organised 16
appropriate gender awareness and self-awareness. Party members Youth League members and KingNet Liuying volunteers to participate
in volunteer services at the Hongqiao “CIIE Pioneer Service Line” contributing diverse
The “Colourful Plateau” rural aesthetic education programme has covered volunteer efforts to this grand event.“Coloured 15 schools across Qinghai Yunnan and Sichuan distributing 1475 picturePlateau” Rural books and delivering 205 teaching hours (9800 minutes in total). The Volunteers provided directions answered inquiries and offered assistance to visitors
Teacher Training programme designs courses based on regional and cultural characteristics travelling through the underground passage between Shanghai Hongqiao Railway Station
Programme enabling targeted delivery of aesthetic education resources supporting local and the National Exhibition and Convention Centre (Shanghai). With professionalism
cultural inheritance and enriching students’ artistic experiences. and warmth they contributed to enhancing service quality at the Expo and fulfilled
the commitment of “Showcasing Youth Through Service at the CIIE” building a
comprehensive multi-level and people-oriented service support system.“Sports Dreams” The Company partnered with the Adream Foundation to launch a new round
Empowerment of donations providing the “Sports Dreams” programme and 3552 sets of
Programme for sports equipment to 12 supported schools in Sichuan Qinghai and Yunnan
Rural Teachers enabling more equitable access to quality sports education resources in
rural schools.The Company delivered 277 sets of eco-friendly school uniforms made
Plastic Bottle from recycled plastic materials to supported schools enabling children to
Recycling receive warmth while directly understanding the environmental value of
Programme Public resource recycling transforming public welfare into a mobile classroom for
Welfare Project
environmental awareness. Group Photo of Volunteers
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Emergency Relief
The Company has established an efficient and well-structured disaster relief response mechanism to ensure timely action in the event of a disaster providing affected communities with prompt and
effective assistance and support.Disaster Relief Response Mechanism of KingNet Network
Emergency
Disaster
Assessment Disasters are categorised based on their scope of impact and severity.Approval of
Relief Funds Based on the disaster level relief funds are approved in accordance with predefined funding allocation principles.Establishment
of Dedicated An annual emergency disaster relief fund is allocated to ensure a timely and rapid emergency response when disasters occur.Fund
Implementation
Relevant funds supplies and personnel are mobilised to carry out disaster relief activities with local charitable organisations.of Relief Efforts
Case Support for Hong Kong Tai Po Fire Relief Efforts
On the afternoon of November 26 2025 a major fire broke out in several residential buildings in Hong Kong's Tai Po District causing significant damage and casualties. On
November 27 2025 KingNet Network and its chairman Jin Feng raised 10 million HK$ to support the Hong Kong civil affairs department and frontline rescue organizations for use
in medical assistance emergency resettlement and transitional living assistance for the affected residents etc. for rescue work.
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Metrics and Targets
Under the K Action framework the Company has set an overarching goal of “Sustainable Protection”. Under this goal we continue to invest in social welfare areas such as children and youth
education rural revitalisation disaster and emergency response and digital accessibility.
2025
Metrics and Targets on Community Contribution and Rural Revitalisation of KingNet Network in 2025
Investment in social public welfare
The Company carried outpublic
welfare projects Targets:undertakings from 2023 to 2025 2025: Cumulative for 2023–2025:
18 A total investment of 20 RMB11.98 million RMB25.88millionRMB million in social welfare
delivered From 2020 to the end of the reporting period the “KingNet’s Love Public Welfare” programme delivered a total of 490200 items
(sets) of aid materials with donated goods valued at RMB17.89 million benefiting a cumulative total of 49000 individuals
2535 including over 90% from ethnic minority groups. More than 70 public welfare activities have been organised and 7 emergency hours of disaster responses have been initiated. The programme has received multiple forms of social recognition significantly expanding
volunteer service the Company’s positive influence.benefited
28000individuals through
volunteer engagement
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Corporate Governance*
Governance Strategy
The Company strictly complies with the Company Law the Securities Law the Corporate governance not only affects financial performance but is also directly linked to brand reputation
Code of Governance for Listed Companies the Rules Governing the Listing innovation capability and user trust. We place great emphasis on standardised governance and investor
of Shares on Shenzhen Stock Exchange the Measures for the Administration relations management continuously identifying assessing and managing governance-related impacts risks
of Information Disclosure by Listed Companies and other laws regulations and opportunities improving governance structures and internal control systems and enhancing decision-
normative documents and business guidelines. Upholding the leadership of the making transparency and operational efficiency. We safeguard investors’ lawful rights and interests in accordance
Party the Company has established a corporate governance structure comprising
with the law strengthen the quality of information disclosure and communication mechanisms and ensure that
the Shareholders’ Meeting the Board of Directors and its special committees
and senior management level. We have established a Chief Responsibility Officer investors’ rights to information participation and supervision are effectively upheld. Through strengthening
team and implemented a primary responsibility system. These efforts continuously governance systems and corporate culture we continuously enhance core competitiveness and promote stable
enhance the Company’s governance structure and internal control system and sustainable development.promoting standardised and compliant operations. Impacts Risks and Opportunities Related to Corporate Governance Identified
In 2025 in line with the latest regulatory requirements and our operational by KingNet Network and Response Strategies
practices we abolished the Board of Supervisors. Its functions were lawfully Timeframe of Potential Financial
assumed by the Audit Committee of the Board of Directors further strengthening Key Impacts Risks and Opportunities Response StrategyImpact Impact
the central role of the Board of Directors in the supervisory mechanism. At
the same time we revised a lot of internal systems including the Articles of We consistently adhered to principles of compliance and
Association the Rules of Procedure for the Board of Directors the Rules of transparency ensuring that decision-making procedures are lawful.Compliant We strengthened mechanisms to protect the rights and interests of
Procedure for the Shareholders’ Meeting and the Rules of Procedure for the operations minority shareholders.Strategy and Sustainability Committee of the Board of Directors continuously We strengthened supervision over the conduct of senior
improving our corporate governance framework. management members.Impact:
Shareholders’ Increase in Impairment of
Meeting compliance costsinvestors’ rights Medium- We upheld the principles of authenticity accuracy
Decrease in
and interests and completeness timeliness and fairness striving to build an
revenue
Risks: long-term efficient investor-oriented information disclosure system.Board of Directors Reputational risks Information
Increase in We established stable and efficient communication
disclosure and financing costscompliance risks mechanisms with shareholders.protection of With the purpose of enhancing investor confidence the
Remuneration
Nomination Audit Strategy and Sustainability shareholder controlling shareholder and all senior management committed
and Appraisal
Committee Committee Committee rights and not to reduce their shareholdings for five years and to increase
Committee interests holdings through cash dividend reinvestment.We issued the Three-Year Shareholder Return Plan (2025–
2027) to effectively protect the legitimate rights and interests of
public investors.Chief Responsibility Officer team
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Management of Impacts Risks and Opportunities
Leadership by Party Building
KingNet Network incorporates leadership of Party building
into its Articles of Association. The Company’s Directors
deputy chairman and general manager serve as the
Secretary of the CPC committees fully leveraging the
leadership role of the CPC committees to strengthen the
unity of Party leadership and corporate governance. The
Company’s Party Committee has four party branches with
120 members.
The Company has continuously innovated in its Party
building methods and platforms successfully launching a
Party-building brand tailored to the online game industry-
an “Orange” Heart towards the Party (be loyal to the Party).A comprehensive brand system was developed integrating Thematic Study Programme: “Revisiting the Path Joint Party Building Activity: “Passing on the Spirit of of Endeavour Strengthening Original Aspirations” 1 August Strengthening Civil-Military Unity”
corporate culture and values and included the design of a
dedicated brand logo visual identity highlights case studies Key Honours Received for the Company’s Party
achievements and animations. We also launched a series of Building and League Building in 2025
themed merchandise and digital assets under the brand.Guided by the goal of “Red Party-building Leading OrangeKingNet” the Company actively promoted the “dualcoverage” of Party building embedding Party building into
corporate culture and operations. Through coordinated
learning initiatives and joint Party-building activities we
have consolidated and extended the outcomes of themed
education and advanced the role of Party building in drivingThe Party Class “An ‘Orange’new quality productive forces. In 2025 we conducted more The Youth League Branch An “Orange” Heart towards Heart towards the Party withthan 20 Party building activities. of Shanghai KingNet Was the Party Was Recognised Sincere Unity and Aspiration”Recognised as a “National as an Outstanding PartyWas Honoured as One of the
May Fourth Red Flag Youth Building Brand among Internet“Top 10 Popular EmpowermentLeague Branch” Enterprises in Shanghai (2024)Projects in Minhang District”.
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Standardised Operations
The Company operates in strict accordance with the Company Law and its Articles of Association maintaining a sound corporate governance structure with independent and comprehensive
business and operational capabilities. In 2025 the Company regularly convened the Board of Directors the Shareholders’ Meeting as well as special committees as required. The procedures for
convening meetings deliberation voting methods and resolutions were all conducted lawfully and effectively.Operation of KingNet Network’s Board of Directors in 2025
Effective performance of the Board of Directors Independence of the Board of Directors
Directors of the Company are elected or replaced by the In 2025 the Company convened: The Company continues to enhance the assessment
Shareholders’ Meeting with each term lasting three years and mechanism for independent Directors and fully
eligibility for re-election upon expiry. Shareholders’ Meeting proposals reviewed leverages their supervisory role in operations
In 2025 we added one employee representative Directors. The 3 12 decision-making and major matters.Board of Directors comprised nine members none of whom held
board positions in more than three listed companies (including In line with national reforms of the Directors system
KingNet Network). Board of Directors proposals independent Directors serve as chairpersons or
meetings reviewed
All Directors perform their duties in accordance with the Rules members of all four special committees. Independent
of Procedure for the Board of Directors and other related 5 33 Directors account for 100% of the Audit Committee systems attending meetings of the Board of Directors and the further enhancing their role in daily governance and
Shareholders’ Meeting diligently actively participating in relevant promoting the independence fairness transparency
training staying informed of applicable laws and regulations meetings of special proposals and objectivity of the Board of Directors while
and fulfilling their responsibilities with honesty and integrity
committees reviewed improving internal control efficiency.In 2025 the Company actively organised Directors and In 2025 the Company revised the Working System
senior management members to participate in compliance 10 29 for Independent Directors and the Rules of Procedure
training organised by regulatory authorities to strengthen
their professional competencies. Training topics covered for Special Meetings of Independent Directors to In 2025 the average attendance rate
ESG policies and trends listed company value management enhance Board independence. One special meeting
corporate governance practices and reforms of the independent at Board of Directors meetings was of independent Directors was held reviewing one
Directors system. 100% proposal.
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Information on Members of KingNet Network’s Board of Directors
Diversity of the Board of Directors Independence Professional Background
Independent Independent Risk
When nominating candidates for directorship the Company Directors Positions Held Gender Age from from Other Industry Financial Management
considers Board diversity across multiple dimensions Management Stakeholders Expert Expert Expert
including but not l imited to gender age skil ls and Level
professional background. Chairman of the Board
The Company introduced gender diversity at Board level. In Jin Feng Chair of the Strategy and Male 38
2025 the Board of Directors included one female Directors. Sustainability Committee
Deputy Chairman
General Manager
Performance assessment and incentive & Shen Jun Member of the Nomination Committee Male 48
restraint mechanism for Directors and senior Member of the Remuneration and
management members Appraisal Committee
A fair and transparent performance assessment and Zhao Fan Director Deputy General Manager Male 48
incentive and restraint mechanism has been established and
continuously improved for Directors and senior management Qian Junfa Director Deputy General Manager Male 46
members. The appointment of senior management members Huang Yu Employee Representative Director Male 47
is open and transparent in compliance with legal and Independent Director
regulatory requirements. Chair of the Audit Committee
The Company has implemented the Remunerat ion Yu Jingxuan Male 55
Member of the Strategy and
Management System for Directors. The Shareholders’ Sustainability Committee
Meeting determines the annual remuneration framework
Independent Director
while the Board’s Remuneration and Appraisal Committee
Chen
under the authorisation of the Shareholders’ Meeting is Member of the Strategy and Male 43
Sustainability Committee
responsible for performance appraisals of Directors. Yinghua
The Company revised the Management Measures for Member of the Nomination Committee
Shareholding and Changes in Shareholding by Directors Independent Director
and Senior Management Members to strengthen the Chair of the Remuneration and Zhu Liufei Male 41
management of shareholdings and changes by Directors and Appraisal Committee
senior management members. Member of the Audit Committee
All senior management members committed not to reduce Independent Director
their directly held shares in any form from 3 July 2024 to 2
July 2029 and to use after-tax dividends received between Jiang Chair of the Nomination Committee
Female 47
1 January 2024 and 31 December 2028 to continuously Hongzhen Member of the Audit Committee
increase their shareholdings each year. Member of the Remuneration and
Appraisal Committee
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Information Disclosure and Protection of Shareholder Rights and Interests
The Company is committed to protecting the legitimate rights and interests of the Company its shareholders and other
stakeholders by focusing on improving the transparency of information disclosure deepening investor relations and enhancing Honours and Recognitions for KingNet Network’s Information Disclosure and
the effectiveness of capital operations. Investor Relations in 2025
The Company maintains active communication with investors through multiple channels including the corporate website online
announcements an official investor relations WeChat public account platform earnings briefings both online and offline investor JRJ.com
meetings and the platform (irm.cninfo.com.cn) of the Shenzhen Stock Exchange. The Company also fully leverages digital tools
to improve communication efficiency and conducts internal audits and oversight of the disclosure process to reduce errors and Outstanding Investor
Relations (IR) Team Award
inappropriate practices thereby enhancing the quality and reliability of information disclosure. In 2025 the Company published
a total of 127 announcements on the Shenzhen Stock Exchange. Our information disclosure received an “A” rating from the
Shenzhen Stock Exchange.Value Online
Adhering to an investor-first philosophy the Company formulated the Three-Year Shareholder Return Plan (2025–2027) in 2025.
2025 Excellence in Investor Relations
We actively protect investors’ rights and interests and enhance returns through measures such as prioritising shareholder returns Award for Listed Companies
repurchasing shares to boost minority shareholder confidence and public commitments from controlling shareholders and senior
management not to reduce their shareholdings for five years. Our profit distribution policy complies with the Company’s Articles
of Association and approval procedures fully safeguarding the legal rights and interests of minority investors.Roadshow China
Best Capital Market
Communication Award
The Company organises investor
communication activities on a regular or Comein Finance
ad hoc basis engaging with exceeded Best Institutional Coverage Award
2800 investors in total in 2025.
2025 Annual Investor Exchange Conference Shenzhen Stock Exchange
In addition the Company deeply integrates sustainability performance into investor relations management translating ESG 2024–2025 Listed Company Information
concepts into long-term investment value signals through proactive transparent and continuous communication. In routine Disclosure “A” Rating
communications such as regular performance briefings and roadshows the Company not only reports its financial performance
but also systematically elaborates on its strategies objectives specific measures and quantified achievements in green
operations the implementation of social responsibility and the improvement of corporate governance.
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Metrics and Targets
The Company has established corporate governance-related targets and corresponding monitoring indicators to continuously track implementation progress. In 2025 the actual state of
corporate governance did not show any material deviation from the laws administrative regulations or provisions on corporate governance issued by the China Securities Regulatory
Commission. For more details on corporate governance topic management please refer to the “Corporate Governance Enviromental and Social” section of the 2025 Annual Report of KingNet
Network Co. Ltd.Strengthen support Improve the assessment Promote diversity within Maintain stable dividend
mechanisms for Directors in mechanism for independent the Board and senior distribution and continued
fulfilling their duties Directors and enhance the management level shareholding increases by
independence of the Board senior management
Average attendance rate of Proportion of independent Number of female Directors Rounds and amount of dividend
Directors at Board meetings Directors on the Board on the Board distributions
during the year The Board independent dividend amounting to
consisted of Directors 1 distribution
100%
9 4 1 RMB214 millionDirectors Number of female senior
management
Annual ESG training coverage Combined share purchases by representing
rate for Directors controlling shareholders actual
1 controllers and senior executives
100% 44.44% RMB41.68 million
Annual anti-corruption training Proportion of independent
coverage rate for Directors Directors on the Audit Committee
100%100%
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Compliant Operation* Management of Impacts
Risks and Opportunities
Governance The Company is committed to building a comprehensive
in terna l cont ro l and aud i t sys tem rev iewing and
Guided by the management philosophy of “Creating Value from Compliance” the Company has established a comprehensive strengthening management processes and institutional
internal management system following laws regulations and relevant rules such as the Company Law of the People’s Republic frameworks and actively maintaining an effective internal
of China and the Basic Standard for Enterprise Internal Control. The system covers various aspects including finance human control system. By enhancing audit and supervision
resources asset management and capital activities. procedures and implementing a series of internal control
measures the Company aims to reduce the occurrence of
It has established the Legal Affairs Department led by the Chief Legal Officer responsible under the supervision of the Board of errors and non-compliant behaviours.Directors for building and continuously improving the compliance management system providing professional legal support and
compliance assurance for operations and strategic development. In 2025 the Company newly introduced and revised a total of
Enhance the effectiveness of internal control
44 internal compliance management policies improving compliance processes and actively implementing compliance actions to compliance management and internal auditing
ensure lawful and compliant operations.Ensure the soundness of the internal control system
and compliance with applicable regulations.Strategy Strengthen the independence of the internal audit
department which reports directly to the Board of
Directors and enhance company-wide compliance
During operations the Company may face compliance risks such as violations related to game content. If not properly awareness and skills through training.managed these risks may lead to regulatory penalties legal disputes financial losses and reputational damage. Accordingly
it continuously improves the compliance management system systematically identifies and effectively manages various
compliance risks so as to enhance its level of compliant operations. Improve the truthfulness accuracy and integrity
of financial and accounting information
Key Compliance Risks Identified by KingNet Network and Response Strategies
Establish a robust internal control system including
Type of Risk Timeframe of Potential Financial
regular financial audits internal inspections and
Impact Impact Response Strategy compliance reviews.Emphasise professional training for accounting
Conduct regular compl iance t ra in ing and personnel to ensure team members are proficient
Compliance risks such as Increase in awareness activities. in accounting standards financial reporting and
violations related to game Medium- and compliance costs Continuously improve the internal control system professional ethics.content long-term Decrease in and strengthen internal audits. Introduce an independent external audit mechanism by revenue Integrate compliance management into the daily regularly engaging professional firms to conduct audits.management of all ESG topics.
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In 2025 for the newly established Digital Economy R&D Centre project the Company revised relevant institutional documents Metrics and Targets
and established standardised compliance processes clarifying control requirements and responsibilities for key stages. At the
same time it regularly reviews and evaluates process implementation identifies potential risk points and proposes optimisation The Company has established compliance management
measures continuously enhancing the standardisation and compliance of business management. targets and put in place oversight mechanisms to ensure
effective implementation of compliance practices.Compliance training coverage rate for key position employees
Organise Legal Awareness Month Lecture Series
Target 2025
To strengthen compliance management in the gaming business and mitigate legal risks related to data usage and new 100%
technologies the Company organised two thematic lectures in December 2025. Experts from Zhejiang University Law 100%
School and Zhejiang Disuo Law Firm were invited to provide in-depth insights on game data compliance and AIGC
application compliance injecting legal support into the Company’s sustainable development. Number of material Incidents of non-compliance
Target 2025
00
Lecture on Game Data Compliance Lecture on AIGC Application Compliance in Gaming
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Risk Management*
Governance KingNet Network’s Three Lines of Defence for Risk Management
The Company strictly complies with the Company Law of the
People’s Republic of China the Basic Standard for Enterprise Business departments
Internal Control the Evaluation Guideline for Enterprise
Internal Control and other relevant laws regulations and Identify assess and manage risks in daily operations implement risk
requirements. We have established a sound risk management control measures and ensure that business activities comply with
system strictly enforce internal control systems applicable to internal systems and risk management requirements.listed companies accelerate the implementation of internal
control standards and continuously enhance our operational
First line of
management capabilities and risk prevention capacity. defence
The Board of Directors bears ultimate responsibility for Legal Affairs Department
oversight of the risk management system. The Audit Committee
Provide professional support for compliance and risk management
under the Board supervises the operation of risk management
in business activities formulate and improve relevant systems andand internal control systems. We have established a “threestandards and supervise guide and propose improvements for majorlines of defence” risk management mechanism comprising
Second line of risk issues.business departments the Legal Affairs Department and the defence
Internal Audit Department clearly defining responsibilities at
each level for risk identification supervision and independent
evaluation. The Internal Audit Department led by the Chief
Audit Executive conducts independent audit and supervision.Internal Audit Department
Third line of Independently audit and evaluate the effectiveness of the Company’s
defence risk management and internal control systems and provide objective
and independent supervisory opinions to the governance body.
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Strategy
The Company faces several key risks in its daily operations including risks related to game content intensified market competition loss of core talent and changes in industry policies. To address these
challenges the Company has established a comprehensive risk management system and actively formulates response strategies for identified risks enabling effective risk mitigation and control.Key Sustainability Risks Identified by KingNet Network and Response Strategies
Risks Risk Descriptions Timeframe of Potential Impact Financial Impact Response Strategy
Establish a comprehensive supervision and review mechanism for game products
Increase in and regularly issue compliance reports to mitigate content-related risks.If the Company fails to manage game content appropriately Medium- compliance Enhance publishing and operational capabilities develop differentiated products
Game content risk it may violate relevant laws and regulations or face and costs and services continuously optimise user experience and maintain competitive
reputational damage due to negative content. long-term Decrease in advantages.revenue Strengthen core competitiveness and expand market share through the continuous launch of flagship and new games ensuring sustained growth in
global mobile game publishing and operations.If the Company’s game products fail to adapt to changing Implement employee stock ownership and stock option incentive plans to Intensified market market demands or strengthen core competitiveness and establish and improve the benefit-sharing mechanism between employees and competition risk expand market share it will face intense market competition. owners attracting and retaining outstanding management personnel and key talents. For specific strategies refer to the “Human Capital Development” section.Medium-
Risk of losing Talent is a core resource in the gaming and internet and Decrease in Closely monitor changes in national policies and promptly adjust game operation
core talent industries. Maintaining human resource stability is critical to long-term revenue strategies. At the same time adhere to the principles of high quality game the Company’s sustainable development. development long-term operational planning and overseas market expansion to
Policy change Changes in industry policies such as game licensing reduce the impact of industry policies on the Company’s game business.risk in the approvals may affect the advancement of domestic game Introduce IPs suitable for global distribution to avoid affecting the launch of the
game industry operations and the Company’s overall product pipeline. game due to licensing policy factors.Inadequate investment decision-making or post-investment Establish and improve investment decision-making processes and post-
Investment management may result in underperformance of investment Medium- Decline in investment management systems conduct rigorous due diligence review and
management risk projects adversely affecting asset security and operational and investment approval strengthen post-investment monitoring risk early warning and dynamic
outcomes. long-term returns control and promptly optimise operational strategies to ensure steady progress of investment projects and safeguard asset security and operational performance.Other
sustainability- See relevant topics in this Report
related risks
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In addition with the development of emerging technologies and changes in regulatory environments the Company also faces challenges arising from emerging risks. Accordingly we continuously
monitor external environmental trends strengthen forward-looking risk identification and response capabilities and ensure stable operations and long-term sustainable development.Emerging Risks Risk Descriptions Timeframe of Potential Impact Financial Impact Response Strategy
As we continue to deepen the application of AI Establish compliance assessment mechanisms for AI applications
technologies inadequate management may incorporating algorithm transparency and content review into the R&D
Risk of tightening AIGC lead to ethical issues such as algorithmic bias Medium-
process.regulation discrimination and AIGC-related infringement. and
Set up dedicated processes for technology ethics and AI compliance
This may result in regulatory penalt ies long-term assessment.reputational damage increased compliance Increase in Maintain communication with regulatory authorities and collaborate with
costs and negative impacts on future revenue. compliance research institutions to conduct forward-looking research.costs Further strategies are detailed in the “Technology ethics” subsection.Decrease in
Changes in the global trade environment revenue
international relations and cross-border data
Geopolitical risk regulation policies may affect overseas IP
Medium- Promote diversified regional market deployment to reduce reliance on a
introduction game publishing approvals and single market.data transmission and the stability of local long-term Strengthen local compliance consulting and legal support.operations increasing business uncertainty.
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Management of Impacts Risks and Opportunities
The Company has established a comprehensive risk management process covering risk At the same time the Company has established a risk control matrix to systematically organise
identification assessment response monitoring and review as well as reporting and and manage key risk points control measures and responsibilities further enhancing the
communication forming a closed-loop risk management mechanism to support the stable refinement of risk identification and control.operation of strategic objectives and business management.In addition as we continue to expand investments across the gaming industry chain and
* * R* * * * * * * * isk Management Process of KingNet Network intelligent technology sectors while broadening business boundaries and cultivating growth
drivers higher requirements are placed on risk management. Under the existing enterprise risk
Risk identification management framework we have incorporated investment-related risks into key managementSystematically identify potential risks that may affect the achievement priorities. We have defined an investment strategy focused on “precisely targeting high-of objectives based on strategic goals business activities and external potential sectors” formulated Investment Management Measures and established a full
environmental changes and define risk sources and impact scope. lifecycle investment risk management mechanism covering pre-investment during-investment
and post-investment stages. Through cross-departmental independent evaluation and
Risk assessment continuous monitoring we systematically identify assess and manage risks associated with
investment activities.Analyse identified risks comprehensively assess their likelihood and
impact and determine risk priorities. Other sustainability-related risk management measures are available in the relevant topics of
this Report.Risk response
Based on risk assessment results and the Company’s risk appetite Metrics and Targetsformulate and implement appropriate response strategies including risk To address game content risk the Company has set a target of “zero violations in onlineavoidance mitigation transfer or acceptance. operation of games” and established a long-term monitoring mechanism to ensure the effective
implementation of risk management.Risk monitoring and review
Continuously monitor risk conditions and the effectiveness of response Risk Management Metrics and Targets of KingNet Network
measures conduct periodic reviews track risk changes dynamically and
adjust strategies as necessary. Number of violations in online operation games
Risk reporting and communication Target Progress in 2025
Report risk management status to management and governance bodies 0
according to established mechanisms and communicate risk information 0
to stakeholders forming a closed-loop risk management system.
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Anti-commercial bribery and anti-corruption
The Company strictly abides by applicable laws and regulations such as the Interim Provisions on Prohibiting
Commercial Bribery. The Company has established documents such as the Employee Behaviour Management 尊敬的合作伙伴 :
Measures the Joint Meeting System for Integrity and Self-Discipline and the Supervision System to set out 春临岁启，新程共赴。值此丙午马年新春佳节即将到来之际，谨向贵司致以最诚挚的新春问候与美好祝愿!衷心感谢长期以来，贵司与我们秉the Company-wide requirements for anti-commercial bribery and anti-corruption management define “red line”
持诚信为本、互利共赢的原则，携手同行、并肩耕耘，共同构筑起稳固、behaviours and issued the Business Ethics and Anti-Corruption Statement to jointly foster a culture of integrity.良好的合作关系
The Board of Directors exercises overall oversight of ESG-related management including business ethics and 佳节尚廉，清风致远。廉洁是合作长久的基石，公正是彼此信任的底色。
为持续维护双方健康、透明、清朗的合作生态，守护合作初心、筑牢廉洁anti-corruption and is ultimately responsible for its outcomes. The Company has established an Integrity and Self-防线，恺英网络特向贵公司作出如下廉洁承诺Discipline Committee led by the Supervisory Department and formed jointly with the Internal Audit Department and
1.严禁我司员工及其家属以任何形式收取礼金、购物消费卡、名贵礼品、the Legal Affairs Department with the General Manager serving as Committee Chair. The Supervisory Department is 电子红包、有价证券、支付凭证等财物 :
responsible for promoting the establishment of the Company’s integrity system standardising the control measures 2. 严禁我司员工及其家属以 " 行业惯例 "、" 感谢费 "、" 辛苦费 "、" 好处
and procedures for preventing and identifying corruption risks conducting targeted audits and strengthening the 费 " 等任何形式向贵公司行贿、受贿、索贿、收受回扣 ;
Company’s risk management practices in anti-commercial bribery and anti-corruption. 3. 严禁我司员工及其家属参加贵公司安排的旅游、健身、商务娱乐、会所招待等高消费娱乐活动
Adhering to a “zero tolerance” policy towards corruption the Company follows punishing and preventing 4. 严禁我司员工及其家属参加贵公司安排的以旅游为目的的考察调研、
simultaneously. We actively identify assess and manage risks related to anti-commercial bribery and anti-corruption 会议活动、学习培训等活动
continuously improving our management system to effectively prevent and control corruption and bribery risks across 5. 严禁我司员工及其家属接受贵公司为其提供的全职或兼职工作 ;
the entire value chain. 6. 严禁我司员工及其家属接受贵公司的借款、贷款
7.禁止我司员工及其亲属接受贵公司任何形式的利益输送。
Risks in Anti-commercial Bribery and Anti-corruption Identified by KingNet Network and Response Strategies
若贵司在合作过程中，遭遇我司员工索贿、变相索要利益等违规违纪行为，
敬请第一时间通过我司廉洁举报渠道反馈。我司将对所有举报信息严格保
Risks Timeframe of Potential Impact Financial Impact Response Strategy 密，为举报人提供全面的匿名保护，并对相关线索依法依规、严肃核查、从严处理，切实维护双方合法合作权益举报邮箱 :jubao@kingnet.comAdhere to a “zero tolerance” policy and the principle of
初心如磐，方得始终。愿我们在新的一年里，继续以廉为帆、以信为Increase in punishing and preventing simultaneously with clearly defined 舟，坚守合作底线、共守廉洁初心，深化精诚合作、携手共谋发展，在清Medium- compliance red-line behaviours.Reputational and costs Strengthen the integrity system.风正气中共创更加美好的合作未来!
risk long-term Decrease in Conduct targeted supervisory audits. 恺英网络采购部 & 监察部
revenue Establish a whistleblowing platform and maintain open 再次恭祝贵司新春愉快、事业蒸蒸日上、诸事顺遂 !internal reporting channels.Enhance internal anti-corruption awareness and advocacy. 二 0 二六年一月
The Company continuously strengthens its anti-commercial bribery and anti-corruption efforts by focusing on system
development supervisory audits whistleblower protection and awareness campaigns. These initiatives aim to prevent KingNet Network’s Integrity Co-Building Notice
and mitigate potential corruption risks within business operations. to All Business Suppliers
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Anti-Corruption Awareness Session
Conduct targeted audits
To promote ethical business conduct enhance the Company’s
Conduct regular targeted supervisory audits covering all Company operation sites. social credibility and market competitiveness and reduce
Assess and evaluate the integrity appropriateness and effectiveness of the Company’s and key
subsidiaries’ ethical standards anti-corruption policies and their implementation. legal risks and liabilities the Company held an anti-corruption
awareness campaign on 19 June 2025. The session was
attended by 45 participants in person with learning materials
Establish a whistleblower protection mechanism simultaneously made available to all employees via an online
platform to ensure Company-wide training coverage.Ensure open reporting channels: Establish multiple anonymous or named reporting methods
including a dedicated email address (jubao@kingnet.com) and mailing address encouraging
all employees business partners and other stakeholders to report any actual or suspected
incidents of corruption fraud or misconduct involving Company personnel via email or written
correspondence.Key Anti- Whistleblower protection: The Supervisory Department leads comprehensive investigations into
commercial reported matters. In accordance with applicable laws regulations and the Company’s policy
documents whistleblower confidentiality is strictly maintained and appropriate measures are taken
Bribery and to protect whistleblowers witnesses and investigators from retaliation.Anti-Corruption
Management
Measures of Promote anti-corruption awareness and education
KingNet Network Conduct annual anti-corruption and integrity education activities covering all employees (including
part-time employees) including training on ethical standards strengthening integrity education The Company has established management metrics to
guiding employees to build a firm line of defence on ideology and morality and enhancing continuously monitor the effectiveness of anti-commercial
awareness of anti-corruption and integrity. bribery and anti-corruption efforts. In 2025 no incidents
related to commercial bribery or corruption occurred.Manage anti-corruption within the supply chain
KingNet Network’s Anti-Commercial Bribery
Formulate the Supplier Management Rules and the Procurement Process Management Rules and Anti-Corruption Metrics and Targets
among other policies to set out anti-corruption management requirements for suppliers.Enter into an Integrity and Honesty Commitment with all suppliers systematically incorporating Number of concluded corruption litigation cases filed against
the Company or its employees during the reporting period
integrity and compliance requirements into supplier onboarding cooperation and management
processes.Issue an Integrity Co-Building Notice to all suppliers to communicate the Company’s integrity Target Progress in 2025
requirements and convey its zero-tolerance stance towards corrupt conduct.Regularly communicate the Company’s whistleblowing channels to suppliers encouraging suppliers 0
and relevant parties to report non-compliant conduct through lawful and compliant means and 0
strengthening the identification and prevention of integrity risks across the supply chain.
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Anti-unfair Competition
The Company complies with the Anti-Unfair Competition Law of the People’s Republic of China and is committed to eliminating all With respect to the prevention of false advertising the Company
forms of unfair competition. This includes preventing false advertising protecting intellectual property rights ensuring fair competition places great importance on brand reputation management. It
and maintaining a fair competitive market order. To this end the Company has established internal policies such as the Intellectual strictly complies with relevant laws regulations and industry
Property Management System the Trademark Management Measures the Regulations on the Management of Commissioned standards in all marketing and promotional activities ensuring
Technology Development Business and the Regulations on the Management of IP Introduction and Adapted Game Projects in order that all promotional content is truthful accurate and complete
to safeguard its own intellectual property and prevent infringement of others’ rights. and refrains from any exaggerated or misleading statements.The Company has established a marketing content review
Under the supervision of the Board of Directors the Legal Affairs Department and the Game Publishing Division are responsible for mechanism to conduct compliance checks on promotional
managing the Company’s anti-unfair competition efforts. materials guard against false advertising and improperIn terms of intellectual property protection we follow the core principles of “creation encouragement effective utilization legal marketing practices and continuously safeguard consumers’protection and scientific management” and implement intellectual property management across multiple dimensions including lawful rights and interests as well as the Company’s reputation.trademark application and renewal intellectual property protection litigation and specialised training on intellectual property protection.A* * * * * * * * * * * * * * nti-unfair Competition Management Measures of KingNet Network
System enhancement Game IP protection
The Company has strengthened intellectual property The Company protects its game IP through copyright
management practices and obtained certification under registration trademark registration patent protection
the Certification for Intellectual Property Compliance contractual safeguards and enforcement actions. For
Management System valid from 20 November 2024 to unauthorised merchandise and trademark squatting
19 November 2027. issues the Company actively registers copyrights and
trademarks monitors the market and initiates legal GB/T Intellectual Property Compliance
action as needed. Management System Certification Certificate
Trademark application and renewal Purchase of licensed software
In 2025
The Company has filed a total of 10 trademark-related The Company replaces pirated software with open-
applications including registrations renewals and source or free-licensed systems and software or
amendments. purchases authorised software to ensure compliance.Intellectual property rights protection litigation Intellectual property compliance training
the Company recorded no incidents of
The Company protects the Company’s game IP Regular intellectual property compliance training unfair competition including false advertising
through litigation. sessions were conducted to raise employee awareness monopolistic conduct or infringement of third-
of IP protection. party intellectual property rights.
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ESG Data Table and Notes
Environmental Performance1*
Indicator Unit 2023 2024 2025 Indicator Unit 2023 2024 2025
Total energy consumption tce — 324.01 479.61 6
Direct energy consumption2 tce — 36.74 38.20 Scope 1 GHG emissions tCO2e 94.03 74.73 77.70
Indirect energy consumption34 tce — 287.27 441.41 Scope 2 GHG emissions
Energy consumption per unit revenue4 tce/RMB million — 0.06 0.09 (market based)
6 tCO2e 734.37 723.67 0.00
Total power consumption kWh 2060894 2335772 35890264 GHG emissions (Scope 1 + Scope 2) per unit revenue tCO2e/RMB million 0.19 0.16 0.01
Purchase of green 7
electricity certificates5 kWh 825000 1100000 3591000 Scope 3 GHG emissions tCO2e 21126.62 132360.68 201785.85
Proportion of green electricity in Category 1: Purchased goods
annual power consumption % 40.03 47.09 100 and services? tCO2e 19595.72 130644.35 200703.15
Power consumption per unit
operating revenue kWh/RMB0000 4.80 4.56 6.74
Category 6: Business travel tCO2e 371.91 362.01 273.43
Power consumption per unit area kWh/m2 — 149.51 143.58 Category 7: Employee commuting tCO2e 1158.99 1354.32 809.27
Gasoline consumption of
self-owned vehicles L 42452.00 33737.56 35080.92 Total water consumption? t 6377 16781.75 15557.29
Total GHG emissions Water consumption per
(Scope 1 + Scope 2) (market based)6 tCO2e 828.40 798.40 77.70 unit revenue t/RMB0000 0.015 0.033 0.029
Note 1: [Statistical Scope] The statistical scope for environmental data includes KingNet Network and its subsidiaries Shanghai KingNet Shanghai KingNet Software Shanghai Doushi and Zhejiang Shenghe. In 2025 as part of the
Company’s carbon inventory process the statistical methodology and management of energy consumption data were further refined. Certain historical data were retrospectively reviewed and the corresponding 2024 figures have been
updated accordingly in order to ensure completeness and comparability of disclosed data.Note 2: Direct energy consumption refers to gasoline used by Company-owned vehicles. The energy consumption data was converted using the average lower heating value coefficients published in the China Energy Statistical Yearbook by
the National Bureau of Statistics.Note 3: Indirect energy consumption refers to purchased electricity. Conversion of energy consumption is based on the standard 20°C calorific value as specified in GB/T 2589—2020 General Rules for Calculation of the Comprehensive Energy
Consumption.Note 4: In 2025 due to the relocation of the company's office and the expansion of office space there was an increase in total power consumption indirect energy consumption and the energy consumption per unit revenue. To more
accurately reflect energy use efficiency the Company has supplementarily disclosed electricity intensity per unit floor area for analytical purposes.Note 5: In 2025 the Company procured a total of 3591 green electricity certificates (GECs) each representing 1 MWh of green electricity offsetting electricity consumption for the period from 1 January 2025 to 31 December 2025.Note 6: The total GHG emissions includes the Scope 1 and Scope 2 GHG emissions. Scope 1 GHG emissions are direct GHG emissions generated by gasoline consumption of self-owned vehicles. The calculated GHG types include CO2
CH4 and N2O. The calculation coefficients for GHG emissions generated by gasoline consumption follow the Accounting Method and Reporting Guide of GHG Emissions from Land Transportation Enterprises (Trial) (2015) issued by the
National Development and Reform Commission and the China Energy Statistical Yearbook published by the National Bureau of Statistics of China. Scope 2 GHG emissions are GHG emissions generated from purchased electricity and the
calculated GHG type is CO2. The Company calculates Scope 2 emissions from purchased electricity using both the location-based and market-based methods. Location-based Scope 2 GHG emissions were 1175.33 tCO2e in 2023 833.04
tCO2e in 2024 and 1904.34 tCO2e in 2025. In 2025 the relevant GHG emission factors refer to the Announcement on the Release of Carbon Dioxide Emission Factors for Electricity in 2023 issued by the Ministry of Ecology and Environment
and the National Bureau of Statistics in 2025. The emission factor for purchased electricity by location is 0.5306 tCO2e per megawatt-hour and the emission factor for purchased electricity (excluding non-fossil energy electricity traded in the
market) by market is 0.6096 tCO2e per megawatt-hour.Note 7: Greenhouse gas emission factors for Category 1 (including information technology services business services and cultural and office equipment) and Category 6 are derived from data in the China Environmental Extended Input-
Output (CEEIO) database adjusted in accordance with China’s 2024 Producer Price Index (PPI); greenhouse gas emission factors for Category 7 are calculated based on documents such as the 2024 Commuting Monitoring Report for MajorChinese Cities”and the 2024 Urban Transport Travel Survey.Note 8: As water charges are bundled within the property management fees at the Company’s headquarters and cannot be separately itemised the 2023 water consumption figures cover only hospitality water usage and standalone restroom
water usage at the headquarters as well as total water consumption at Zhejiang Shenghe. For 2024 and 2025 the Company has estimated total water consumption by applying per capita water consumption data from Zhejiang Shenghe
thereby expanding the reporting boundary to cover all water consumption within the full statistical scope. Accordingly the figures reflect a significant change compared with those reported prior to 2022.
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Social Performance
Employee Employment and Training Performance Table
Indicator Unit 2023 2024 2025 Indicator Unit 2023 2024 2025
Total number of employees Person 1869 2184 2248 Over 50 years old % — — 0.00
Male Person 1366 1584 1610 By age 30-50 years old % — — 3.26
By gender
Female Person 503 600 638 Under 30 years old % — — 0.00
Mainland China Person 1869 2183 2245 Employee turnover rate5 % 18.89 11.08 16.64
By region Hong Kong Macao Male % 19.11 10.42 17.83
Person 0 1 3
Taiwan and overseas By gender Female % 18.29 12.83 13.64
Over 50 years old Person 2 6 6 Over 50 years old % 0 33.33 50.00
By age 30-50 years old Person 927 1112 1231 By age 30-50 years old % 14.35 6.38 12.75
Under 30 years old Person 940 1066 1011 Under 30 years old % 23.4 15.85 21.17
Han Chinese Person — — 2191
By Ethnicity1 Grassroots % — — 18.08
Ethnic minority Person — — 56 Junior management % — — 3.92
Grassroots Person — — 1969 By level Middle management % — — 5.59
Junior management Person — — 102
By level Senior management % — — 0
Middle management Person — — 161 Signing rate of labour contracts % 100 100 100
Senior management Person — — 16 Percentage of formal employees
Percentage of female employees in accepting regular performance and % 100 100 100
2 % 14.94 16.00 21.86the management level career development assessment6
Share of women in management Number of employee / — 329 337
positions in revenue- % — — 57.98 training sessions
generating functions3 Total employee
RMB0000 — 81.51 25.35
Share of women in training expenditure7
%——18.12
STEM-related positions4 Coverage of employees
%100100100
Proportion of vacancies filled through in training8
%——3.26
internal recruitment Training time per employee9 Hour 18.84 13.05 15.23
Male % — — 2.64
By gender Total number of employee / 0 0 0
Female % — — 0.62 discrimination incidents
Note 1: The company has one foreign employee who is not included in the statistics on the number of employees by ethnicity.Note 2: In 2025 the statistical scope for management covers senior management middle management and junior management. In 2024 the scope covered senior management and middle management only.Note 3: Revenue-generating roles refer to employees in the company’s marketing-related positions.Note 4: STEM-related roles refer to employees in positions related to Science Technology Engineering and Mathematics i.e. the company’s technical employees.Note 5: [Calculation method] Turnover in each category of employees = number of employees who voluntarily resigned within the year/total number in each category of employees at the end of the year * 100.Note 6: [Calculation method]: Percentage of formal employees receiving regular performance and career development reviews = number of employees who received regular performance and career development reviews during the reporting
period / total number of formal employees at the end of the reporting period * 100.Note 7: In 2024 the company launched a specialized AI training program for the technology department resulting in relatively higher training costs for the period; related spending returned to normal levels in 2025.Note 8: [Calculation method] Coverage of employees in training= number of employees receiving training / total number of employees * 100. 99
Note 9: [Calculation method] Training time per employee = total number of hours of training received by employees during the year / total number of employees.2025 Sustainability & Environmental About the Chairman’s Sustainability About Materiality Assessment Sustainability
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Data Security and Customer Privacy Protection Performance Table
Indicator Unit 2023 2024 2025 Indicator Unit 2023 2024 2025
Employee work-related injury RMB0000 — 57.29 71.45 Coverage rate of employee insurance expenditure training and awareness on
Coverage rate of employee work- data security and
%—100100
related injury insurance % — 100 100 privacy protection
Percentage of employee deaths Number of incidents
due to work-related injuries % 0 0 0 penalised for violating data / — 0 0
Working days lost due to work- security laws and regulations
related injuries Day 0 0 0 Number of violations related / 0 0 0
Incidence rate of to customer privacy
work-related accidents % 0 0 0 Amount involved in data
security and disclosure of RMB0000 — 0 0
customer privacy incidents
Number of flaws in anti-
addiction system / — 0 0
Product Responsibility and Customer Service Performance Table Innovation-Driven Performance Table
Indicator Unit 2023 2024 2025 Indicator Unit 2023 2024 2025
Number of complaints about Number of R&D personnel Person 1275 1488 1479
products and services1 / 273 520 1182 Proportion of R&D personnel % 68.22 68.13 65.79
Complaint resolution rate1 % 100 100 100 Amount invested in R&D RMB0000 — 59837.31 59510.87
Customer satisfaction % — — 92.85 R&D investment as a percentage of
Number of legal or main business revenue
%—11.6911.18
regulatory violations related / 0 0 0 Number of patent applications during
to game content quality the reporting period / — 1 1
IP approval rate for acquired Number of patents granted during the
intellectual properties % — 100 100 reporting period / — 0 1
Number of valid patents during the / — 22 23
Note 1: The scope of the number of complaints and complaint handling rate covers the number of complaints received by the XY reporting period
platform and 12345 Citizen Service Hotline. Complaint handling rate = number of complaints timely handled and resolved by the Number of invention patents applied to
Company / number of complaints about products and services received by the Company within the year. In the past two years main business / — 5 4
the scale of the Company’s gaming business has expanded driving an increase in the number of product categories launched
and a growing user base the total number of complaints has risen year by year. At the same time the company has connected Number of trademark applications / — 25 10
to the “996 Game Box” platform's complaint system further improving the complaint handling channels and enhancing the during the reporting period
completeness of data statistics. This has enabled more user feedback to be included in the statistics resulting in a year-on-year Number of trademarks approved
increase in the total number of complaints. during the reporting period / — 31 26
Cumulative number of
approved trademarks / — 669 664
Number of software copyright
registrations during the reporting period / — — 12
Cumulative number
of trademarks approved / — — 700
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Supply Chain Management Performance Table Sustainability Governance Performance
Indicator Unit 2023 2024 2025 Anti-commercial Bribery and Anti-corruption
Total number of suppliers / 461 531 518 Performance Table
Number of suppliers in
Mainland China / 460 530 517 Indicator Unit 2023 2024 2025
Number of suppliers in Hong
Kong Macao Taiwan and / 1 1 1 Proportion of Directors covered by
overseas anti-commercial bribery and % — 100 100
anti-corruption training
Community Investment Performance Table Proportion of new suppliers covered by
Anti-Corruption Agreements during the %. — 100 100
Indicator Unit 2023 2024 2025 reporting period
Amount involved in litigation or major
Investment in social public RMB0000 6516983.39 7380497.08 11989589.65 administrative penalties during the welfare reporting period arising from the RMB0000 — 0 0
Company’s unfair competition practices
Public welfare donation RMB0000 1274715.00 2775989.00 2636670.00 Number of concluded corruption-related
litigation cases brought against the
Number of volunteer activities Company or its employees during the
/000
organised / — 20 23 reporting period
Total hours of employee Hour — 1579 2535 Compliant Operation Performance Tablevolunteer service
Employee volunteer service Indicator Unit 2024 2025
participation / — 189 266 Compliance training coverage
for key positions % 100 100
Number of public welfare Number of compliance
projects carried out / — 20 18 training sessions conducted / 24 10
Number of beneficiaries of Number of material incidents / 0 0
rural revitalisation initiatives Person — 14268 34574 of non-compliance
Number of beneficiaries of RMB0000 — 1873673.26 3963096.83 Note 1: Major incidents of non-compliance refers to a violation of national policies laws and regulations or industry rural revitalisation initiatives standards. The Company recorded no related incidents in 2024 and 2025.Economic Performance
Indicator Unit 2023 2024 2025
Revenue RMB0000 429539.03 512024.04 532497.78
Total profit RMB0000 169724.34 167173.48 198074.31
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Report Standard Index
Index of Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock
Exchange—Sustainability Report (For Trial Implementation)
Disclosure Disclosure
Requirement Corresponding Section in This Report Requirement Corresponding Section in This Report
Topics Required for Disclosure under the Guidelines Product and service Content quality management
safety and quality Customer service and complaint handling
Climate response Climate response ESG Data Table and NotesESG Data Table and Notes
Data security and
Green Operations customer Data security and customer privacy protection
Pollutant discharge ESG Data Table and Notes privacy protection
ESG Data Table and Notes
No industrial wastewater is produced during operations. All domestic
wastewater undergoes compliant treatment and discharge. Employment and Protection of Employees’ Rights and Interests
Employees Human capital development
As an online game company the Company produces relatively low levels of ESG Data Table and Notes
Waste disposal emissions and has minimal environmental impact. Therefore this topic is of low relevance to the Company. Due diligence Due Diligence and Communication with Stakeholders
Electronic waste disposed of by third parties in full regulatory compliance. Communication with Due Diligence and Communication with Stakeholders
Ecosystem and Stakeholders
Biodiversity Protection Ecosystem and Biodiversity Protection Anti-commercial bribery Anti-commercial bribery and anti-corruption
Environmental and anti-corruption ESG Data Table and Notes
compliance Anti-unfair Competition Anti-unfair Competition
management
Topics Voluntarily Disclosed in Accordance with Article 5 of the Guidelines
Energy utilisation Green Operations
ESG Data Table and Notes Social functions of
Water resources games Social functions of games
utilisation
Protection of Minors in
Circular economy Cyberspace Protection of Minors in Cyberspace
Rural revitalisation Community Contribution and Rural Revitalisation Corporate governance
Community contribution ESG Data Table and Notes
Corporate governance ESG Data Table and Notes
Innovation Product R&D and innovation Compliant operation
Compliant operation
ESG Data Table and Notes ESG Data Table and Notes
Technology Ethics Technology Ethics Risk Management Risk Management
Supply chain security Supplier Sustainability Management
As of the end of the reporting period the balance of the Company’s
accounts payable (including notes payable) did not exceed RMB30 billion
Equal treatment of SMEs and accounted for less than 50% of total assets.Neither the Company nor its subsidiaries had any overdue payments to
small and medium-sized enterprises publicly disclosed via the National
Enterprise Credit Information Publicity System.
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GRI Content Index
Statement of Use KingNet Network has reported the information for the period from 1
GRI Disclosure Location
January to 31 December 2025 with reference to the GRI Standards. Standards
2-17 Collective knowledge of the highest governance body Corporate Governance
GRI 1 used GRI 1: Foundation 2021
Chairman’s Statement
GRI 2-22 Statement on sustainable development strategy
Sustainable
Disclosure Location Development Strategic Standards Plan and Progress
2-1 Organizational details About KingNet Network Customer Service and
2-2 Entities included in the organization’s sustainability
2-25 Processes to remediate negative impacts Complaint Handling reporting About the Report GRI 2: Human Capital
2-3 Reporting period frequency and contact point General Development
Disclosures Content Quality
2-4 Information restatement ESG Data Table and Notes 2021 Management
Data Security and
2-5 External assurance Third-Party Independent Audit Report 2-27 Compliance with laws and regulations
Customer Privacy
Protection
2-6 Activities value chain and other business relationships About KingNet Network Protection of Minors
in Cyberspace
About KingNet Network Compliant Operation
2-7 Employees ESG Data Table
and Notes 2-29 Approach to stakeholder engagement Communication with Stakeholders
ESG Data Table
GRI 2: 2-8 Workers who are not employees and Notes 3-1 Process to determine material topics Topic Materiality
General Assessment
Disclosures GRI 3: 3-2 List of material topics2-9 Governance structure and composition Corporate Governance
2021 2025 Annual Report Material Sustainability
Topics 2021
2-10 Nomination and selection of the highest governance 3-3 Management of material topics Governance Structure
body 2025 Annual Report Subsections by Topic
2-11 Chair of the highest governance body Corporate governance
GRI 101:
2025 Annual Report Biodiversity 101-8 Ecosystem services
Ecosystem and
2024 Biodiversity Protection
2-12 Role of the highest governance body in overseeing
the management of impacts Sustainability 102-1 Transition plan for climate change mitigation
Governance Structure
2-13 Delegation of responsibility for managing impacts 102-2 Climate change adaptation plan
2-14 Role of the highest governance body in sustainability Chairman’s Statement
GRI 102: 102-4 GHG emission reduction targets and progress Climate Response
reporting Sustainability
Climate
Change 102-5 Scope 1 GHG emissions ESG Data Table Governance Structure
2025 102-6 Scope 2 GHG emissions and Notes
2-15 Conflicts of interest 2025 Annual Report
102-7 Scope 3 GHG emissions
2-16 Communication of critical concerns Sustainability Governance Structure 102-8 GHG emissions intensity
1032025 Sustainability & Environmental About the Chairman’s Sustainability About Materiality Assessment Sustainability
Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
GRI
Standards Disclosure Location
GRI
Standards Disclosure Location
103-1 Energy policy and commitments 403-3 Occupational health services
Employment and
103-2 Energy consumption within the organisation and GRI 403: Green Operations 403-6 Promotion of worker health
GRI 103: Occupational Protection of Employees’ self-generated energy ESG Data Table
Energy 2025 Health and 403-7 Prevention and mitigation of occupational health and Rights and Interests
103-4 Energy intensity and Notes Safety 2018 safety impacts directly linked by business relationships
103-5 Reduction of energy consumption 403-9 Work-related injuries ESG Data Table
Sustainability Highlights 404-1 Average hours of training per year per employee and Notes
201-1 Direct economic value generated and distributed ESG Data Table GRI 404:
Training and 404-2 Programmes for upgrading employee skills and Human Capital GRI 201: and Notes transition assistance programmes Development
Economic 201-2 Financial implications and other r isks and Education
Climate Response 404-3 Percentage of employees receiving regular ESG Data Table
Performance opportunities due to climate change 2016 performance and career development reviews and Notes
2016 Employment and
201-3 Defined benefit plan obligations and other GRI 405:
Protection of Employees’
retirement plans Diversity
Rights and Interests ESG Data Tableand Equal 405-1 Diversity of governance bodies and employees
GRI 203: and NotesOpportunity
Indirect Community Contribution
203-2 Significant indirect economic impacts 2016
Economic and Rural Revitalisation GRI 406:
Impacts 2016 Employment and Non- 406-1 Incidents of discrimination and corrective
GRI 205: 205-2 Communication and training about anti-corruption Protection of Employees’ discrimination actions taken
Anti- policies and procedures Anti-commercial bribery Rights and Interests2016
corruption and anti-corruption
2016 205-3 Confirmed incidents of corruption and actions taken
Content Quality
GRI 416: 416-1 Assessment of the health and safety impacts of Management
GRI 303:
ESG Data Table Customer product and service categories Protection of Minors in
Water and 303-3 Water withdrawal
and Notes Health and Cyberspace
Effluents 2018 Safety 2016 416-2 Incidents of non-compliance concerning the health
306-1 Waste generation and significant None in 2025and safety impacts of products and services
GRI 306: waste-related impacts Green Operations
Waste 2020 Content Quality
306-2 Management of significant waste-related impacts GRI 417: 417-1 Requirements for product and service information Management
ESG Data Table Marketing and and labelling Protection of Minors in
401-1 New employee hires and employee turnover
and Notes Labelling Cyberspace
2016 417-2 Incidents of non-compliance concerning product Protection of Minors
Employment and
GRI 401: 401-2 Benefits provided to full-time employees that are not and service information and labelling in Cyberspace
Protection of Employees’
Employment provided to temporary or part-time employees
Rights and Interests GRI 418:
2016 418-1 Substantiated complaints concerning breaches of ESG Data TableCustomer
Employment and customer privacy and losses of customer data and NotesPrivacy 2016
401-3 Parental leave Protection of Employees’
Rights and Interests
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Industry Associations Joined by KingNet Network and Its Subsidiaries
Full Name of Association Membership Level Entity Full Name of Association Membership Level Entity
Internet Society of China Council Member KingNet Network Co. Ltd. Internet Association of Shanghai Member Shanghai KingNet Network Technology Co. Ltd.China Cultural Industry Association Council Member KingNet Network Co. Ltd.China Mobile Communications Association Shanghai Online Game Association Vice President
Shanghai KingNet Software
Observer Member KingNet Network Co. Ltd. Technology Co. Ltd.(CMCA)’s Metaverse Council
Shanghai Online Game Association Member Shanghai Doushi Network
China Audio-Video and Digital Technology Co. Ltd.Publishing Association Deputy Director KingNet Network Co. Ltd. Shanghai Network Audio-Visual Association Member Shanghai KingNet Software
China Association for Public Companies Council Member KingNet Network Co. Ltd. Technology Co. Ltd.Internet Association of Shanghai Council Member Shanghai KingNet Software
Trust and Integrity Enterprise Alliance Member Shanghai KingNet Software Technology Co. Ltd.Technology Co. Ltd. Shanghai Information Network Security Member Shanghai KingNet Software
Hangzhou KingNet Network Administration Association Technology Co. Ltd.China Toy & Juvenile Products Association Member Technology Co. Ltd. Shanghai Network Security Member Shanghai KingNet Software
China Tourist Attractions Association Member KingNet Network Co. Ltd. Administration Association Technology Co. Ltd.Shanghai Association of Stock System Enterprises Member KingNet Network Co. Ltd.Yangtze River Delta Entrepreneurs Union Member Hangzhou KingNet Network Technology Co. Ltd. Shanghai International Tradein Services Council Member Shanghai KingNet Network Industry Association Technology Co. Ltd.Yangtze River Delta Entrepreneurs Union Member Shanghai KingNet Software Technology Co. Ltd. Pujiang Town Chamber of Commerce Minhang Member Shanghai Doushi Network District Shanghai Technology Co. Ltd.Shanghai Software Industry Association Council Member Shanghai KingNet Network Listed Companies Association of Fujian Council Member KingNet Network Co. Ltd.Technology Co. Ltd.Vice Council Chair Shangrao Kaisheng Network
Shanghai Software Industry Association Group Member Shanghai KingNet Software
Jiangxi Software Industry Association Member Technology Co. Ltd.Technology Co. Ltd.Shanghai Shengsong Network Jiangxi Internet Society Council Member
Shangrao Kaisheng Network
Shanghai Software Industry Association Group Member Technology Co. Ltd.Technology Co. Ltd.Jiangsu Internet Association Member Suzhou Juhe Network
Shanghai Software Industry Association Group Member Shanghai Doushi Network
Technology Co. Ltd.Technology Co. Ltd. Zhejiang Games Association Vice President KingNet Network Co. Ltd.Shanghai Software Industry Association Group Member Shanghai Beihai NetworkTechnology Co. Ltd. Zhejiang Games Association Supervisor
Zhejiang Shenghe Network
Technology Co. Ltd.Shanghai Cultural and Creative Industry Zhejiang Institute of Animation Industry Executive Council KingNet Network Co. Ltd.Promotion Association Council Member KingNet Network Co. Ltd. Member
Shanghai Information Service Association Council Member Shanghai KingNet Software
Zhejiang Internet Association Council Member KingNet Network Co. Ltd.Technology Co. Ltd. Hangzhou Animation Comic & Game Association Vice President KingNet Network Co. Ltd.Minhang Association of Cultural and Shanghai Doushi Network Hangzhou Kaixing Network
Creative Industries Vice President Technology Co. Ltd. Hangzhou Cultural Industry Promotion Association Council Member Technology Co. Ltd.Aimiluo Technology
Shanghai Cyber Culture Association Member Shanghai KingNet Network Shenzhen Software Industry Association MemberTechnology Co. Ltd. (Shenzhen) Co. Ltd.
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Social and Governance (ESG) Report Report Statement Highlights KingNet Network of Sustainability Topics Management System Environmental Social Governance Appendix
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