Since 2017, we have focused on the residential property rental industry in China. We leased residential properties from individual property owners on a long-term basis, renovated and furnished such properties in a clean and modern manner, and rented them out to individual tenants. As of June 30, 2019, we leased 11,434 properties from property owners. On July 1, 2019, we sold and transferred leases of 10,167 properties. As of the date of this prospectus, we leased 1,267 properties from property owners. During the period when we held and managed over 10,000 leases, we saw the demands for and opportunities of a system that connects landlords, tenants, and service providers efficiently and combines management of internal operations and logistics with management of customers acquisition and development. We recruited a group of software engineers and invested in the development of a system that serves landlords in property rental transactions. Our operation and experience in the residential rental industry enabled us to identify challenges and implement solutions in our own software.

Finally, in July 2019, we launched SanCaiJia, our Software-as-a-Service (SaaS) solutions. Our SanCaiJia solutions aim to serve the real estate rental industry and household service providers. Our clients include individual property owners, real estate management companies, leasing agencies, real estate agencies, apartments, decoration and renovation companies, and housekeeping and cleaning services. Customers of our clients have access to the software to view and connect with the agents to sign documents, pay rents, report repairs, etc.