A holding company with no material operations of our own, we conduct our operations in China through EPWK VIE and its subsidiaries. Three other competitors and we take up 54.6% market share of the crowdsourcing market in China, and, with US$0.23 billion Gross Merchandise Volume (“GMV”) in the first half of 2022, we are the second largest online marketplace in China, only behind Zhubajie’s US$0.33 billion GMV. Our platform, operated through EPWK VIE, is one of the only two comprehensive crowdsourcing platforms in China, with the other one operated by Zhubajie, and enables businesses (buyers) and service providers (sellers) to find each other. From 2019 to 2021, our platform enabled approximately US$804 million (RMB5.39 billion) of GMV across 2.23 million projects between 15.33 million sellers and 7.67 million buyers from all 34 provinces of China. Specifically, in 2019, we enabled US$210 million of GMV across 0.6 million projects between 12 million sellers and 6 million buyers. In 2020, we enabled US$ 254 million of GMV across 0.7 million projects between 12.32 million sellers and 6.16 million buyers. In 2021, we enabled US$340 million of GMV across 0.9 million projects between 15.33 million sellers and 7.67 million buyers.
