(Incorporated in the Cayman Islands)

We are a holding company incorporated in the Cayman Islands. Through our PRC operating entities, we provide comprehensive business solutions to enterprise customers in the insurance industry, mainly auto insurance third-party service providers and insurance companies in China. Auto insurance third-party service providers are companies providing various services to auto insurance companies, such as aftermarket services and brokerage services.

Leveraging our in-depth knowledge of the auto insurance industry amassed since the inception of our PRC operating entities in 2013, we specialize in providing auto insurance aftermarket services, primarily (i) insurance risk assessment service, and (ii) value-added services, such as vehicle safety inspection services and vehicle maintenance services. In addition, we also provide other scenario-based customized services, such as IT services and promotional services, on a case-by-case basis. For the fiscal year ended March 31, 2025, we provided services for a total of 64 enterprise customers, respectively. Some of our customers are well-known major insurance companies in China. All of our revenues have been and will continue to be derived from the Chinese mainland in the foreseeable future.

According to the National Financial Regulatory Administration (“NFRA”), the Chinese motor vehicle insurance category was the largest category of property insurance by premium in China, and reached US$123.1 billion in total premiums in 2023. According to Frost and Sullivan, in 2023, China’s car ownership reached 329 million, which generated substantial demand for China’s auto insurance and auto insurance third-party services. According to Frost and Sullivan, the size of the auto insurance market is anticipated to increase from US$107.4 billion in 2023 to US$145.5 billion in 2028, depicting a CAGR of 6.3%, and the size of the PRC auto insurance third-party services market, which consists of independent service providers that offer specialized support to auto insurance companies and intermediaries, is anticipated to increase from US$11.8 billion in 2023 to US$17.1 billion in 2028, depicting a CAGR of 7.7%. We believe the anticipated growth of the PRC auto insurance third-party services market presents a great opportunity for us to continually grow and expand our business.

We believe our strong technical capabilities have helped drive our growth. Since 2013, our PRC operating entities have been providing IT services for enterprise customers in the insurance industry. In recent years, although we have been focusing on providing auto insurance risk assessment and value-added services, we have continued to provide IT services on a case-by-case basis. Our in-house technical team, which consists of 12 full-time employees as of the date of this prospectus, has developed a proprietary system, namely, “Qingmin Service Platform,” or “QMSP,” that interfaces with our enterprise customers’ systems to facilitate the processes of our aftermarket services. Through QMSP, our enterprise customers can place orders for after-market services, verify status of the services, and settle payment for completed services. Our enterprise customers can also use QMSP to generate individualized risk assessment reports based on specific information, such as a driver’s age and gender, a vehicle’s brand, model, and age, accident history, and claim history. Going forward, we are committed to continuously investing in our technical capabilities to further enhance the marketability of our services.

We have established an extensive service network throughout China by collaborating with external vendors. To remain flexible and efficient in our operations, we have adopted a strategy of outsourcing services to external vendors. For our aftermarket services, we collaborate with aftermarket service platform operators. Our service platform operator partners work directly with individual aftermarket service providers, such as auto dealerships, brick-and-mortar repair and maintenance shops, and 4S stores (shops that offer four key vehicle-related services: sales, spare parts, service, and survey), to perform (i) risk assessment services for insurance companies, and (ii) value added-services for car owners, who enjoy such services purchased by the insurance companies as a way to reinforce customer loyalty. Once our enterprise customers order aftermarket services through QMSP, they can access our service providers on QMSP based on specific geographical locations and service types. As of the date of this prospectus, we offer a wide range of aftermarket services through our service network, at 10,651 service locations in 30 province-level municipalities in China. We believe our extensive service network backed by QMSP service processes has attracted more customers, including other aftermarket service providers and insurance companies. Having other aftermarket service providers as our customers has significantly expanded our business scope, because each of our aftermarket service provider customers works with multiple insurance company customers. For our scenario-based customized services, we selectively outsource certain tasks and projects to external vendors. Many of these vendors are our business partners with whom we have established enduring collaborations.

Note: Net income and revenue are in U.S. dollars for the 12 months that ended Sept. 30, 2025.

(Note: QMSK Technology Co., Ltd. is offering 6.25 million shares at a price range of $4.00 to $6.00 to raise $31.25 million, according to its F-1/A filing dated March 27, 2026. Background: QMSK Technology Co., Ltd. filed its F-1 in January 2025 with plans to raise about $8 million. In September 2025, QMSK increased its IPO’s size to 6.25 million shares at a price range of $4.00 to $6.00 to raise $31.25 million.)