It's engaged in the provision of agency services and the trading of commodities in China, Hong Kong and overseas. In order to enter the market of daily consumer goods and value-added services for the convenience of the public, the Group entered into a letter of intent and a strategic cooperation with Huimin on 20 September 2016.
Huimin is a company incorporated under the laws of PRC and its core business is the operation of e-commerce in the community. Based on approximately 450,000 community supermarkets and convenience stores, Huimin relies on the Internet to integrate community stores to provide O2O community service platforms across the country to promote the distribution and supply chain logistics among suppliers, convenience stores and consumers in China.
Its website Huimin.cn (www.huimin.cn) is China's largest community O2O network service platform, dedicated to provide more convenient, more secure, more intelligent one-stop life services for community residents. Huimin.cn (www.huimin.cn) is different from the traditional e-commerce because it is a one-stop supply chain community O2O Service Platform with a collection of origin mining, brand direct sale, supermarket supply, online store, data storage and data acquisition.
Huimin International Limited, a subsidiary of the Group, entered into a strategic cooperation agreement with Huimin on November 22, 2016. Huimin International has been appointed as the exclusive overseas purchaser and supplier of Huimin and its national community convenience stores. Huimin International focuses on overseas procurement, to provide 100% genuine guarantee and high-quality international products for Huimin and to coordinate Huimin's leading business model, disintermediation and micro-logistics support. It also provides high-quality, low-cost sources for convenience stores to meet the domestic market's growing demand for high-quality international products. Since then, the Group has established a long-term strategic partnership with Huimin, which complements each other and shows the market advantages.