About FEIYANG GROUP Company

We are a well-known travel service provider located in Ningbo, Zhejiang, China. We offer a diverse range of products to meet the needs of different travelers, including outbound and domestic travel, as well as other travel ancillary products and services. Our “Feiyang” brand is a well-known brand in the industry, and we think our brand will remind customers of premium travel products and excellent customer service. According to the Frost & Sullivan report, in terms of revenue in 2017, we ranked fifth among all travel agencies in Zhejiang Province, with a market share of 0.9%. We are mainly engaged in (i) designing, developing and selling tours (including traditional group tours and customized tours); (ii) selling free travel products (including the provision of air tickets and/or hotel accommodations); and (iii) providing customers with travel ancillary products and services, including but not limited to visa application processing, tourist attraction tickets, conference services and travel insurance agency. For the years ending December 31, 2016, 2017, and 2018, our tour group sales accounted for approximately 90.8%, 87.6%, and 85.3% of our total revenue, respectively, while sales of our free travel products accounted for approximately 5.1%, 9.0% and 12.1% of our total revenue for the corresponding period, respectively. We have received many awards and recognitions in recent years. According to the 2015 National Top 100 Travel Agencies announced by the National Tourism Administration, we ranked in the top 50 in the country in 2015. We were awarded the title of “Golden Reputation Travel Agency” by Ningbo Tourism Development Commission and Ningbo Tourism Association in 2018. We also won the “Ningbo Enterprise Management Modernization Innovation Achievement First Prize” from the Ningbo Federation of Enterprises, the Ningbo Entrepreneurs Association and the Ningbo Federation of Industry and Economics in 2013 in recognition of our “4+T” service system. For other major awards we have received, please see “Awards” below.