Company Description

We are a holding company incorporated as an exempted company under the laws of the Cayman Islands. As a holding company with no material operations of our own, we conduct substantially all of our operations through our operating entities established in the PRC, primarily Shanghai Fendan. We provide marketing, intermediary and technology services to customers which are merchants and financial institutions primarily servicing certain Focused Industries, including (i) wedding industry, such as full-service wedding venues (one-stop wedding services offering wedding venues, wedding planning, makeup, wedding video and photography, flowers, guest hotels and other wedding related services) and pre-wedding photography; (ii) continuing education industry; and (3) family healthcare industry, especially in the realm of postpartum care and non-invasive or minimally invasive aesthetic services. Our service portfolio is composed of (1) intermediary services through our Aifendan Platform — an interactive transaction platform facilitating transactions among individual consumers, merchants and financial institutions in the Focused Industries (the “Intermediary Services”); (2) marketing and promotion services (collectively, “Marketing Services”), including but not limited to, advertisement design, production and distribution, marketing and promotion of products and/or services, and customer acquisition; and (3) system and technology services, including the development, maintenance and upgrade of business management system and related software, such as enterprise resource planning (“ERP”) and software as a service (“SaaS”) systems, and the corresponding technology services and supports (collectively, the “Technology Services”). Consumers, especially those between the ages of 20 – 40 who are at the stage in their lives where marriage and career development are at the forefront, often have financing needs to support their plans for weddings, continuing education and family health-related matters. Our Aifendan Platform, launched in July 2016, accessible by individual consumers through invitation from merchants via scanning unique QR codes, is an interactive system where the individual consumers are offered a “Purchase before Payment” option to purchase products and/or services now from merchants utilizing our services and then make installment payments later through financing services provided by our cooperating financial institutions. As of July 31, 2023, we had approximately 248,791 registered consumers (which constitute all the consumers registering on our Aifendan Platform, of which approximately 49% have completed transactions with us and approximately 51% who have not conducted or completed any transactions with us) and more than 3,990 registered merchants (which constitute all the merchants registering on our Aifendan Platform, of which 58% have conducted transactions through us and approximately 42% have not conducted any transactions through us) on our Aifendan Platform, and have established collaboration with 10 financial institutions, including one consumer finance company, one trust company, five commercial factoring companies, and three micro-lending companies. Our customers include (i) merchants primarily providing wedding, continuing education and family healthcare services, and (ii) financial institutions, including trust companies, commercial factoring companies, micro-lending companies and consumer finance companies, covering most developed areas of China, such as Beijing, Shanghai, Hangzhou, Nanjing, Guangzhou, Shenzhen, Tianjin, Hebei province and the southwest area of China. We seek to expand our customer base into additional second-tier and third-tier cities of China in 2023. Our Ecosystem Customer acquisition is essential for all businesses in terms of forming a solid client base. Upon acquiring consumers, how to conclude the sales contract with customers which lead to the ultimate payment by the consumers, is another key element in securing the transaction. Upon contract execution and payment, how to perform the contracts to realize the goals of all contracted parties is also an indispensable element for a successful transaction. Our ecosystem integrates our services with those key elements by providing Intermediary Services, Marketing Services, and Technology Services to our customers. Our Intermediary Services, facilitating the transactions among merchants, individual consumers and financial institutions in the Focused Industries, are beneficial to all participants in our ecosystem — consumers, merchants and financial institutions. Consumers will receive financial support through a simplified process (such as less loan application documents, and faster loan application and approval process, usually within 20 minutes) at low or no costs and have access to additional discounts, rewards or benefits which are not otherwise available outside of our Aifendan Platform. For merchants, our services enable them to receive full payment of services from financial institutions upon execution of loan agreements between financial institutions and individual consumers through our Aifendan Platform which we believe will greatly improve such merchants’ cash flow and liquidity as compared with their traditional payment terms whereby they have to collect payments over a long period time. When it comes to financial institutions, we connect them with merchants and individual consumers, who are not typically the target customers of large financial institutions. We believe this significantly expands their customer outreach and reduces their customer acquisition costs since it is not cost effective for financial institutions to approach retail consumers on a regular basis to market their services. Our Marketing Services are designed in response to our customers’ demand for customer acquisition. Locating and identifying consumers efficiently, effectively and economically is only the first step. Locking up the identified consumers, minimizing marketing costs, and relieving consumers’ concerns on product and service quality and solvency of the merchants, are the next inevitable steps to a successful transaction. Customer acquisition can be time consuming and costly. For example, it is costly and impracticable for financial institutions to approach retail consumers in need of financing. Our Marketing Services aim to address the pain points of our customers in customer acquisition and minimize their marketing costs. The Technology Services we offer to our customers are aimed at optimizing their operating systems. The Focused Industries in our ecosystem are correlative, covering major large amount spending of young couples at various stages of their lives and careers. Consumers in need of wedding services may also need postpartum care services at some point of their lives, or continuing education services when they are in need of higher education or trainings for career moves, leading to utilization of services provided by our merchant customers and financing services provided by the matched financial institutions on our Aifendan Platform, which will not only reduce the marketing costs for both our customers and us, but also offer convenience and benefits to consumers and enhance consumer loyalty. --- Our principal executive offices are located at Units A-B, 15th Floor, 180 Tianjin Road, Huangpu District, Shanghai, 200001 China, and our telephone number is +86 21-60901518. Our website is www.91fd.com. Our registered office in the Cayman Islands is located at the Office of Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, Grand Cayman, PO Box 10240, Cayman Islands. Our agent for service of process in the United States is Puglisi & Associates, 850 Library Avenue, Suite 204, Newark, DE 19711.