ZW Data Action Technologies Inc.

We are a holding company that conducts our businesses through our subsidiaries outside of mainland China, PRC subsidiaries and operating entities (the VIEs ). We primarily operate a one-stop services for our clients on our Omni-channel advertising, precision marketing, influencer marketing and data analysis management system. We also develop blockchain enabled web/mobile applications and provide software solutions, i.e., Software-as-a-Service ( SaaS ) services for clients. In addition, we provide intellectual property licensing services. We derive our revenue principally by: distributing the right to use search engine marketing service we purchased from key search engines to increase the sales lead conversion rate for our clients’ business promotion on both mobile and computer searches; providing internet advertising and related marketing services for our clients’ businesses; providing intellectual property ( IP ) licensing services; and providing Blockchain-based SaaS Services. We generated total revenues of US$4.61 million for the year ended December 31, 2025, compared with US$15.44 million in 2024. Net loss attributable to our stockholders was US$1.77 million and US$3.76 million for the years ended December 31, 2025 and 2024, respectively. During fiscal 2025, we have strategically repositioned our core business, i.e., our Internet advertising and related marketing service business to have a renewed focus on markets outside of mainland China; as such, the Company’s operations are now primarily conducted outside mainland China.