We are a designer, manufacturer, and brand owner of gold-case and gold-bezel watches in China. Our proprietary-brand products are primarily sold through our distribution network, with direct sales playing a supporting role via our own online store. We also generate revenue by providing ODM services to third-party domestic jewelry brands and wholesalers, including the development and production of private-label precious-metal watches and accessories, as well as subcontracted manufacturing services for their watch and accessory lines. Our ODM clients include several well-known domestic jewelry brands, such as Lao Fengxiang, China Jewelry, and Chow Tai Seng, with whom we have established long-term, stable supply relationships. According to data from Zhiyan Consulting, in 2024 HIPINE was both China's largest pure-gold precious-metal watch brand (based on GMV) and the largest brand of gold-set precious-metal watches (also based on GMV), with market shares of 27.08% and 28.96%, respectively, in the GMV segments for pure-gold precious-metal watches and gold-set precious-metal watches. Guided by our brand mission of "technological innovation, redefining gold," and committed to becoming a trusted and beloved gold-watch brand among consumers, we focus on creating modern, innovative products. We go beyond simply preserving traditional craftsmanship; instead, leveraging our technical expertise and manufacturing experience, we integrate time-honored watchmaking techniques with contemporary design and materials to produce high-quality products that align with the latest consumer demands and market trends.