They are a holding company with operating subsidiaries and a VIE, and with all of their operations and assets in China. Their vision is to build a leading short-distance transportation solutions provider in China. Leveraging their Internet of Things (“IoT”) product and service platform, they have preliminarily established a business model centered on the sale of electronic bicycles (“e-bicycles”) and battery and e-bicycle rentals, complemented by sale of battery packs, battery cell trading and their charging pile business. Currently, they (i) trade lithium cells; (ii) rent and sell lithium batteries; (iii) design, manufacture, rent and sell e-bicycles and e-tricycles; and (iv) sell, franchise and operate smart charging piles for e-bicycles and other electronic devices. They trade lithium battery cells by securing sales contracts with downstream customers, purchasing from suppliers and reselling lithium cell products to such customers.