We are an innovative e-commerce platform that builds an integrated ecosystem of business, shopping, entertainment, and social media for people aged 40 and older. Our Quanqiujia mobile platform is based on S2B2C model and was formally launched in June 2021. In S2B2C, we use a powerful data-driven supply chain platform to connect suppliers (“S”) with hundreds of thousands of businesses (“B”) that serve consumers (“C”). For S, our platform selects suppliers through vigorous screening process to offer products across a large variety of products.For B, we offer membership to mini businesses to sell the products to C and enable B to build up their e-commerce operation through our social shopping network. In the Measures for Classification of Large, Medium, Small and Mini Enterprises adopted in 2017, the National Bureau of Statistics defines mini enterprises (as applicable to our customers) as enterprises with less than 10 employees or annual revenue below RMB 1 million at the end of the latest fiscalyear. For C, we offer attractive products with competitive price and featuresthat address the needs of their age groups.
