We are the leading e-commerce service provider in the entire beauty market value chain in China. According to the iResearch Report, we ranked No. 1 in the industry by 16 billion+ GMV facilitated or generated in China, with a market share of 13.3% in 2020. Meanwhile, we are also a leading incubation platform for emerging beauty brands. We established our brand incubation platform through the aggregate of our extensive network, resource, know-hows and technologies in the beauty industry in 2019. Our beauty brand incubation platform selects and cultivates potential emerging brand partners, helping them gain a unique and effective competitive edge in navigating the beauty market in China. We have brand partners across various origins and product categories. As of today, our brand partners included all of the top six beauty brand groups by revenues globally in 2019. In addition, we have 36 enablement brand partners and 17 incubation brand partners.
