About HOLLWIN URBAN Company

We are a state-owned city service and operation provider, and our business operations are mainly located in Changsha City. The property management market in China's Hunan Province is highly competitive and highly fragmented. Based on the construction area and revenue under management in 2022, our market share is approximately 0.66% and 0.94% of the property management market in Hunan Province, respectively. In terms of urban service revenue in 2022, our market share is about 0.42% of the urban service market in Hunan Province. We provide our customers with a wide range of services to create a cohesive business layout rooted in urban areas. According to service characteristics and industry standards, the services we provide can be divided into three categories: (i) property management services (including various property management services for public properties, commercial properties and residential properties, as well as value-added services); (ii) urban services (including landscaping and engineering, lighting system operation, parking lot operation and municipal sanitation services); and (iii) commercial operation services. At the initial stage of our establishment, we were mainly engaged in property management services, while the business of Chengfa Group focused on urban construction and development. Influenced by the Chengfa Group, we have been inclined to manage urban public spaces from the beginning. Our property management services are mainly aimed at public and commercial properties, with residential properties in a secondary position. As we continue to grow, we use our experience in property management services and gradually consolidate our competitive advantage in urban services. For example, we acquired a landscaping company, which enabled us to expand into landscaping and engineering services in 2016. Since 2017, we have also undertaken night lighting operations in Changsha, further laying the foundation for our urban service business. In 2021, we officially began undertaking municipal sanitation projects. Over the past few years, our urban service business has generated stable revenue and profits, and has become a key driver of our growth and the focus of our business.