−Removed: principal place of business is located at Kingkey 100, Block A, Room 4805, Luohu District, Shenzhen City, China 518000 and the telephone
−Removed: number is +(86) 755 8233 0336, which is leased from a company controlled by our CEO.
−Removed: We also lease another four properties in the PRC
−Removed: from independent third parties which serve as our manufacturing factory and dormitory and additional office s
−Removed: and commercial building for subleasing.
−Removed: The following table sets forth a summary of certain information regarding our leased properties:
−Removed: Property Type
+Added: Our principal executive office is located at Kingkey 100, Block A, Room
+Added: 4805, Luohu District, Shenzhen City, China 518000.
+Added: The prior lease for this office expired on July 31, 2025 and has not been renewed.
+Added: The Company currently uses this office space without separate rental charge through an arrangement with a company controlled by Mr.
+Added: Zhida, our Chief Executive Officer.
+Added: We also lease properties in the PRC from independent third parties which serve as our manufacturing
+Added: factory, dormitory and additional offices for our garment manufacturing and logistics businesses.
+Added: Following the disposal of HX on July
+Added: 1, 2025, the Company no longer conducts property management and subleasing business as part of its continuing operations.
+Added: Monthly Rental
(Square Meter)
−Removed: Manufacturing factory
−Removed: Room 501, No.
−Removed: 5 Luotang Road,
−Removed: Dongcheng District,
−Removed: Dongguan, Guangdong, PRC
−Removed: Principal Office
−Removed: Kingkey 100, Block A, Room 4805,
−Removed: Luohu District, Shenzhen,
−Removed: Guangdong, China
−Removed: Additional office
−Removed: 41-46, Building D, Block B, Jinpeng
−Removed: Distribution Center, No.
−Removed: Sha Ping North Rd, Danping Committee,
−Removed: Nanwan St, Longgang, Shenzhen,
−Removed: Guangdong, PRC
−Removed: August 10, 2025
−Removed: Warehouse and additional office
−Removed: 3 Ping’an Avenue, Pinghu Street,
−Removed: Longgang District, Shenzhen,
−Removed: Guangdong, PRC
−Removed: The Company has been negotiating on the renewal
−Removed: of the lease agreement for the property, and is currently continuing to use this property after expiry of the previous lease agreement.
−Removed: also have 114 logistics points and they are located in 10 provinces and 2 municipalities in the PRC.
+Added: Manufacturing
+Added: 5 Luotang Road, Dongcheng District, Dongguan, Guangdong, PRC
+Added: 41-46, Building D, Block B, Jinpeng Distribution Center, No.
+Added: 536, Sha Ping North Rd, Danping Committee, Nanwan St, Longgang,
+Added: Shenzhen, Guangdong, PRC
+Added: and additional office
+Added: 3 Ping’an Avenue, Pinghu Street, Longgang District, Shenzhen, Guangdong, PRC
+Added: Company has been negotiating on the renewal of the lease agreement for the property, and is currently continuing to use this property
+Added: after expiration of the previous lease agreement.
+Added: of the date of this annual report, we also have 114 logistics points and they are located in 10 provinces and 2 municipalities in the
+Added: These logistics service points are operated through cooperation arrangements with local logistics service providers and are not
+Added: leased properties of the Company.
+Added: We believe that the offices, warehouses and factory that we currently lease are adequate to meet our
+Added: needs for the foreseeable future.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.