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in the past 3 years
the channel mix has changed

If you look at the channel mix in 21 we only had own own website and Tmall which accounted for more than 95% of sales.
Moving forward we tried to diversify , we added JD in 22 and Douyin in 23.

You notice that in 24 we plan to achieve a more balanced mix though Tmall still accounts for 66%. We plan to accelerate the focus on JD and Douyin.

I will get into more details about each platform on my next slide

we will have the livestreams on both Tmall and Douyin in order to diversify our channels

unfortunately we do not expect much growth in 2023 due to market conditions

Due to covid and lockdowns a lot of Chinese learned the importance of saving and now are more careful with what they spend their money on.
A lot of companies laid off many employees this year and it is harder and harder to get a job so people are also careful because of this.
It seems people also want to spend more on travelling because they were not able to travel during the last 3 years.

Tmall is similar to Amazon.

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