About FEIYANG GROUP Company

We are a well-known travel service provider located in Ningbo City, Zhejiang Province, China. We provide a variety of products to meet the needs of different travelers, including providing outbound and domestic travel, as well as other travel support products and services. Our “Feiyang” brand is a well-known brand in the industry, and we think our brand will make customers think of quality travel products and excellent customer service. According to the Frost & Sullivan report, we ranked 5th among all travel agencies in Zhejiang Province in terms of revenue in 2017, accounting for 0.9% of the market. We are mainly engaged in (i) designing, developing and selling tours (including traditional group tours and customized tours); (ii) selling free travel products (including providing air tickets and/or hotel accommodations); and (iii) providing customers with travel support products and services, including but not limited to visa application processing, tourist attraction tickets, conference services, and travel insurance. For the year ended December 31, 2016, 2017, and 2018, our tour group sales accounted for about 90.8%, 87.6% and 85.3% of our total revenue, respectively, while sales of our free travel products accounted for about 5.1%, 9.0% and 12.1% of our total revenue for the corresponding period, respectively. In recent years, we have received many awards and recognitions. According to the 2015 National Top 100 Travel Agencies announced by the China National Tourism Administration, we ranked in the top 50 in the country in 2015. We were awarded the title of “Golden Reputation Travel Agency” by Ningbo Tourism Development Committee and Ningbo Tourism Association in 2018. We also won the “Ningbo Enterprise Management Modernization Innovation Achievement First Prize” from the Ningbo Enterprise Federation, the Ningbo Entrepreneurs Association and the Ningbo Federation of Industry and Economics in 2013 in recognition of our “4+T” service system. For other major awards we have received, please see “Awards” below.