We are a Cayman Islands company incorporated on May 6, 2022 as a holding company of our business, which is primarily operated through our indirectly wholly-owned PRC subsidiary, Moonger, which holds 92.5% and 100% of equity interest in our PRC subsidiaries, Leizig and GZ Boring Ape, respectively. Moonger was incorporated in the People’s Republic of China on September 11, 2012 with a registered and paid-in capital of RMB 500,000 (approximately, $72,493). In April 2023, Moonger held a shareholders’ meeting and passed a resolution, agreeing to increase the capital of Moonger to RMB 11,235,955.07 (approximately, $1,629,060) and in May 2023, Moonger was converted into a Wholly-Foreign Owned Entity (“WFOE”) with the inclusion of a non-PRC shareholder, Leyon as its sole shareholder. We, Leizig Thermal Management Co., Ltd., are the parent of Leyon.
