About LIFESTYLE CHI Company

Lifou China Group Limited (“Lifou China” or together with its subsidiaries, the “Group”) is a well-known retail establishment operator in China. The Group operates two “fashion quality of life” department stores and a shopping center in Shanghai and Suzhou, respectively, under the Jiuguang brand. Among them, the Shanghai Jiuguang Center, which opened in November 2021, consists of an eight-story shopping center (including a basement floor) and two office buildings. It is also located in the Jing'an district of Shanghai. The shopping center aims to build a benchmark commercial flagship complex in northern Shanghai, including high-quality beauty products, luxury goods, restaurants, beauty salons, and fitness centers. Its office buildings have also begun leasing activities, which will bring stable cash flow to the Group in the future. Targeting the middle and high-end consumer market in China, the Group stands out with its attractive product and brand portfolio, as well as a top-notch one-stop shopping experience. The Group strives to optimize its product portfolio and enhance its customer service to meet the diverse shopping, leisure and lifestyle needs of local consumers. In addition to operating its retail locations, the Group has always held strategic shares in Beiren Group, a leading retail group rooted in Shijiazhuang, Hebei Province, China. The Beiren Group's business includes operating department stores, supermarkets, electronics, gold and jewelry, and outlets. The operating performance of the Beiren Group is important to the Group, and the Group should account for the performance of the Beiren Group as an important part of the Group's performance.