The origin of ZMFY Automobile Glass Services Limited (“the Company”) and its subsidiaries (“the Group”) can be traced back to 1999, when the first operating subsidiary of the Group, Beijing Zhengmei Service, was established by Ms. Xia, the executive Directorand chief executive officer of the Company, and Ms. Wen Hongmin (“Ms. Wen”), an Independent Third Party, in Beijing, the PRC, and commenced the business operation of salesof automobile glass with installation and repair services and the trading of automobile glass in the PRC.
Due to the growing automobile industry in the past two decades and hence the increasing demand for the automobile glass installation and repair services, the Group has managed to develop into sizeable operation and open various branches in different districts of Beijing. In 2010, the Group further expanded its service scope to cover other cities in the PRC such as Hangzhou, Tianjin and Shenyang to capture the growing demand for automobile glass and the installation and repair services in those areas. The Group operates 21 service centres providing automobile glass installation and repair services, and is also engaged in the trading of automobile glass in five cities in the PRC, namely Beijing, Hangzhou,Shenyang, Tianjin and Sanhe. The Group also has 110 motorcade service terms stationed at the service centres to provide automobile glass installation and repair services to customers.
The Group had seven operating subsidiaries in the PRC, namely Beijing Zhengmei Service, Beijing Zhengmei Installation, Hangzhou Zhengmei, Tianjin Zhengmei, Tianjin Haida, Shenyang Zhengmei and Sanhe Zhengmei, and two oversea sholding companies, namely Yu Sheng Investments and Chang Hong Investments.
The Group’s business objective is to strengthen its position in the automobile glass installation and repair service industry in the PRC and further expand its business operations in the PRC. The Group’s key business strategies, which are expected to be implemented to fulfill the Group’s business objective, include: expanding the existing business of the Group by setting up service centres in the PRC; exploring merger and acquisition opportunities and business collaboration opportunities with partners in the automobile glass installation and repair service industry; and enhancing marketing activities to promote brand awareness and broaden the Group’s customer base in the PRC.