Onion Global Limited announced the launch of "ZIPLAB", the Group's first New Retail showroom in Guangzhou. ZIPLAB is positioned as a multi-super brand store presenting various fashion categories. ZIPLAB will create a completely fresh offline shopping experience to lead the "New Retail, New Way and New Consumption" concept and is divided into categories according to the characteristics of young people and their consumption habits. The store will implement the new retail concept of "Three to One", which entails in-store + online show + live broadcast experiences. The store in Guangzhou is in the core shopping district, covering an area of over 350 square meters. Onion Global initially aims to display more than 200 popular brands in the store. The Group currently owns three ZIPLAB showrooms, one in Guangzhou and the other two in Hainan Province. The ZIPLAB New Retail showroom is an important add-on measure for Onion Global to expand its existing sales channels from online to offline. It will help the Group build a closed-loop ecosystem for brand partners, and provide the opportunity for Company to directly interact with consumers, increasing the feedback receive for brand incubation and optimization. This will also help Company improve brand incubation capabilities and deepen overall brand image. Boasting a strong brand database, Onion Global has in -depth cooperation with more than 4,000 brands from 43 countries and regions. The Group also has an extensive community with over 700,000 KOCs. With hundreds of millions of purchasing behavior data points and the KOC user interaction information, the Group can leverage the data to build precise models for brand incubation tools. Currently, ZIPLAB does not only showcase popular brands representing international fashion trends, but also some of the newly launch domestic fashion brands. ZIPLAB also showcases some niche overseas brands as well. Going forward, can accurately make procurement decisions for the offline stores based on brand retention rate data in certain segments, and can constantly iterate the mechanisms to predict the growth. This will ultimately help Company replace unpopular brands and cherry-pick the best brands globally.