Onion Global Limited announced new strategic initiatives to upgrade the Group's business in 2023, which include the planned launch of a new business platform (tentatively named Fairlady) by the end of 2022. To help women achieve personal growth and self-enhancement, the new platform will focus on cultivating and serving a community of female users, offering various high-quality resources and features relevant to knowledge, business, consumption, networking and social activities. The mission of the platform is to lead and accompany female users on a continuous journey of self-enhancement and empowerment.

The key elements of strategy include: (1) a commitment to broadening expected future profit sources; (2) improvement of the Group's overall internal controls and management, cost optimization and enhanced operational efficiency; (3) the launch of a platform focused on women's personal growth and self-enhancement, to accumulate quality users on a wider scale, sustainably enhancing scale and business value; and (4) conducting new technology research and development ("R&D") in fields ranging from biotech-based consumer goods to Web 3.0, to maintain competitiveness in products for future development. Since day one, Onion Global has been committed to providing users with all-round platform-level consumer services through brand cooperation, brand incubation, product R&D and omnichannel marketing. Capitalizing on the rise of the female economy, based on years of analysis and insights into female consumers' consumption behaviors and trends, Onion Global will launch a new platform for female users, providing a series of services including knowledge building, business monetization, resource connection and social interactions by accompanying their growth.

These services will help women face the various uncertainties of the current environment and respond to the challenges of the era with a more flexible growth mindset, ultimately creating comfortable lives and achieving self-fulfillment. As the internet continues to evolve, the new Web 3.0 era is also leading to changes in technologies and marketing strategies. Onion Global will proactively embrace Web 3.0 through exploring the application of new technologies, creating new spaces and scenarios for users to connect and interact through Web 3.0 technology, promoting digital virtual IPs and providing brands with live streaming and short video advertising marketing channels.

The Group is also considering building an NFT platform for Chinese traditional cultural IPs. The Group will build a reliable, effective and sustainable growth model across multiple dimensions including new business, new technology and new marketing, thereby ultimately achieving success amid uncertainty.