Xixiangfeng Group Holdings Co., Ltd. is a well-known automobile retailer that mainly provides automobile financial leasing services through its own sales outlets in China. The Group's main business includes: (i) automobile retail and financing, where we sell most non-luxury cars through direct financial leasing; and (ii) automobile-related business, where we mainly provide automobile management and leasing services and other automobile-related services. Our automotive retail and financing business customers are mainly individuals seeking non-luxury models in second-tier cities, third-tier cities and below in China. Our leasing business customers are mainly individual customers looking for car rental services and online car-hailing drivers seeking to rent online car-hailing services. We have established an extensive sales network. Our sales outlets are mainly located in second-tier cities, third-tier cities and below in China. As of October 20, 2023, we operate 77 sales outlets in 25 provinces and municipalities in China.
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