A：Dexiang Real Estate is currently undervalued and has a good price advantage. The company is financially sound and in good asset position, with major assets located in Hong Kong, Macau and Canada, and has improved its financial structure, reduced liabilities and increased profitability through decentralized debt. Although the current market value has declined compared with the peak period, the management is high-quality and has rich experience in capital market operation. At the same time, the shareholder background is strong, and it has a rich resource network, which can provide support for the company's transformation. Therefore, Dexiang Real Estate is considered to be a good company with investment value. The management of Dexiang Real Estate is centered on Chen Guoqiang and Chen Zhonghong. Among them, Chen Guoqiang was Li Ka-shing's royal contractor and has capital operation experience in more than 15 companies, which has greatly improved the company's quality and business level; Chen Zhonghong is a non-executive director of the China Securities Regulatory Commission and has 30 years of private equity investment experience, which provides a solid guarantee for the company's compliance operation and strategic direction control. On the shareholder side, Ruikai Group and Councillor Wu Jiezhuang joined at a critical moment, with the former helping the company's transformation and investment operations with its rich IPO network resources, and the latter, as the chairman of the Committee on Artificial Intelligence and Robotics of the Hong Kong Legislative Council, providing directional blessing for the company's transformation. In addition, the newly added director Cao Xinwei and his team also have a positive impact on the company's share price repair and future development.

A：Dexiang Property's first step in the transformation process was to choose to invest in n skill, a company headquartered in the United Kingdom and leading the global computing power race. N skill not only received investment from Avida, but also signed a US $14 billion cooperation agreement with Microsoft and is building a 1.35 GW super AI computing factory. Dexiang Real Estate chose to invest in n skill, reflecting its precise layout of high-quality targets and its keen grasp of future technology trends.

A：We indirectly participate in AI projects through the fund, mainly focusing on the strategic significance, and hope that by learning the operational experience of top projects, as well as access to the Nvidia ecosystem and the resources of the U.S. domestic AI computing ecosystem, for the company's transformation layout and sea planning to lay a solid foundation. Financial returns are the icing on the cake, and shareholder participation reflects their recognition of the company's value.

A：The recent addition of Cao Zong and his team has had a strong response to the company, which is a positive recognition. The maturity and order acquisition capabilities of the new team will provide certainty for the company's future revenue performance. In addition, the team's layout in North, East and South China will further enhance the company's service capabilities, and will bring clear growth expectations to the company due to its excellent compliance, financial performance and past experience in the IDC industry. The company not only look at the price when choosing a team, but also pay more attention to its ability and quality. Cao's team's rapid execution ability and industry-leading level, as well as its ability to obtain licenses efficiently, reflect its value. This efficient execution speed makes the company stand out from many competitors, especially in Hong Kong stock IPOs, where having a VIE structure has a significant advantage for business development.

A：The company has successfully obtained two value-added telecommunications related licenses, which is very important for foreign investors to engage in value-added telecommunications business in China. With more than 15 years of operating experience, Cao's team has ensured that the company can successfully obtain the two domestic licenses numbered 001, which is of great significance to the company's compliance control.

A：At present, the company's main plan is to carry out the layout of different forms of targets in the upstream and downstream of the AI industry chain, not only in mainland China, but also considering overseas targets and high-quality teams. The company plans to fully develop in the direction of AI computing power, no longer focus on traditional real estate business, traditional real estate investment will gradually reduce.

A：Cao is currently a non-executive director of the company and the general manager of the computing power subsidiary. The cooperation between the two parties will be carried out in the form of equity incentives to motivate his team to obtain corresponding income according to the actual order acquisition.

A：(No direct answer, missing content)

A：We have developed a clear capital planning rhythm and arrangements. New shareholders were introduced in 2H25 and a targeted issue was made. In addition, the placement was completed in April to activate the capital market and enhance liquidity through a small-step fast-running fixed increase. After the market value is repaired in the future, we will carry out a large-scale placement to solve the capital problem.

A：In terms of computing center construction, the company currently does not plan to purchase servers with heavy assets, but focuses on the improvement of computing power operation and delivery capabilities. At this stage, the focus is on the speed and ability of commercial landing, providing customers with stable and fast underlying technical support and computing network services, rather than simply purchasing hardware equipment.

A：The company's team is located in Changsha, near Tianjin (Ulan Chabu), East China (Taicang, Suzhou) and South China (Huizhou), and pays close attention to the demand and policy dynamics of the Hong Kong market, because Hong Kong has strong demand for overseas companies and The policy environment is favorable.

A：The VIE structure is designed to meet the compliance requirements of Hong Kong-funded enterprises engaged in value-added telecommunications services in mainland China, which is a compliance requirement that companies must consider when conducting business planning. Although IPO companies generally face this problem at present, the company has planned the structure in advance and ensured that the license plate and team meet the regulatory requirements.

A：The core competitiveness of the company lies in the value of the team and the advantages in the process of transformation. Cao's team has a national grid background, both power and computing resources, can solve the problem of order certainty and delivery speed, while the team quality and ability to take orders, the industry endorsement advantage is obvious. For the issue of buying cards, the company will buy the right amount according to customer demand, but will not use this as the company's selling point, but will focus on order acquisition and revenue certainty.