The Group is mainly engaged in the design, development, manufacture, subcontract service and sales of semiconductor products in the People's Republic of China (“China”), including light emitting diode (“LED”) lamps and fast charging products. The Group's business includes LEDs, gallium nitride (GaN) components, fast charging products and other types of semiconductor-related products. Gallium nitride is considered to be one of the most important representatives of third-generation semiconductor materials. Compared with previous generation semiconductor materials, gallium nitride has a wider energy gap, larger breakdown voltage, enhanced power conversion efficiency, and stronger thermal stability at high temperatures. On July 16, 2021, the Company entered into a framework cooperation agreement with a Hong Kong statutory body dedicated to assisting Hong Kong enterprises to enhance their competitiveness through the application of advanced technology and innovative services. According to the agreement, the company will establish an advanced intelligent production line for fast charging products in Hong Kong, China, with the support of partners. Furthermore, the company will bring in leading talents in the semiconductor industry (such as Mr. Zhang Rujing, senior consultant of the company and founder of SMIC Integrated Circuit Manufacturing Co., Ltd., and other experts from different countries), and will work with partners to support the development of the microelectronics center, which will involve developing next-generation semiconductor cooperation technology and promoting collaborative development in industry, education and research in Hong Kong, China and the Greater Bay Area of mainland China. On July 27, 2021, Xuzhou Jinshajiang Semiconductor Co., Ltd. (“Xuzhou Jinshajiang”), a wholly-owned subsidiary of the Group, signed a strategic cooperation agreement with Shenzhen Romashi Technology Co., Ltd. and Beijing Hongzhi Dentsu Technology Co., Ltd. to cooperate in the development of gallium nitride power devices, while also providing chipset system solutions for Shenzhen Romas Technology Co., Ltd. for the further application and promotion of fast battery charging products in China. Xuzhou Jinshajiang will be responsible for providing semiconductor, gallium nitride-related products and chipset system solutions for fast battery charging. Additionally, FastSemi Holding Limited, a wholly-owned subsidiary of the Company, has invested in Visic Technologies Limited (“VisiC”) (third generation semiconductors, one of the largest players in the field of gallium nitride power devices). The main benefits of ViSiC's investment and cooperation are listed below: First, the Group currently masters the key technologies for the transformation of next-generation electric vehicles (“electric vehicles”) to open up new markets in China. The Group will use the ViSiC product portfolio to enter the field of electric vehicle enterprise design in China because they all have a blueprint for entering high voltages (from 300V to 400V and 800V systems). Since ViSIC is in a leading position in high-voltage equipment for fast charging applications, and its leading position in terms of German electric vehicle supply chain qualifications, and the Group's domestic GaN solution factory, the Group will benefit from early entry into the Chinese electric vehicle market and become the main viable supply chain provider for third-generation semiconductor GaN solutions to major electric vehicle companies. Second, VisiC's expertise in manufacturing processes will accelerate the Group's factories' expertise in integrated circuit design for high-voltage GaN devices and develop customized products for specific customers on next-generation solutions. Furthermore, in November 2021, FastSemi Holding Limited invested in GaN Systems Inc. (“GaN Systems”), a leader in GaN technology, and agreed to make a strategic investment by subscribing to GaN Systems' F-2 series convertible preferred shares. After the investment is completed, the Group and GaN Systems may have the opportunity to combine their respective strengths to create synergies that benefit both. In particular, GaN Systems can provide the Group with specialized technical support on process definition and qualification for GaN device manufacturing (from Ottawa, California and Taiwan) to achieve similar optimal production yield targets and target qualifications. In addition, GaN Systems proposes that its subsidiaries become GaN Systems' OEM partners and enter into licensing agreements that allow the Group to manufacture semiconductor components using several GaN technologies of GaN Systems. Production facilities Zhuhai Hongguang's production base is located in Nanping Science Park, Zhuhai City, China. We use high-quality raw materials, are equipped with advanced production equipment, and strive to innovate and create high-quality products integrating Guangdong with modern quality management and a professional engineering team. Zhuhai Hongguang has 28 lighting related patents in China. Our philosophy We are determined to be committed to product quality and the environment. We have obtained ISO 9001:2015 and IATF 16949:2016 quality management system certifications to ensure that the company has strict mechanisms to control the quality, production and performance of our waste. In addition to our intense pursuit of quality, we also don't forget to provide our customers with sales prices, more timely delivery, more caring customer service, and a richer product catalog. The goal and intention of the Zhuhai Hongguang management team, which has many years of LED manufacturing and experience, is to push the company to a higher level, strive for leadership in the industry, and provide customers with a better, beautiful and brilliant life.