A holding company incorporated in the Cayman Islands, controlling the national insurance agency operations based in China via variable interest contractual arrangements (the “VIE Arrangement”) with our operating entities, Heng Guang Insurance and its subsidiaries. As a holding company with no material operations of our own, we conduct substantially all of our operations through our operating entities established in the People’s Republic of China, including our variable interest entities, or VIEs, in China.
