VIP.com (NYSE: VIPS),  was established in 2008. It pioneered the special “Selected Brands, Deep Discount, Authenticity Guaranteed”Flash Sales model, retailing categories such as fashion clothing, shoes & bags, cosmetics, mother & kids, home goods and more. VIP.com works with over 30,000 brands in total and more than 2,000 of the brands are exclusive online partners with VIP.com. In 2020, VIP.com reached annual net revenue of 101.9 billion RMB，692.4 million total annual orders. The average daily order volume reached 1.5 million orders ; By now, VIP.com reached over 340 million registered members and 80% repeat purchase rate. On March 23^rd, 2012, VIP.com successfully listed on the New York Stock Exchange (NYSE). Since the IPO to June 30^th, 2021, VIP.com has been profitable for35 consecutive quarters. VIP.com has become the largest Flash Sales platform globally as well as the third online retailer in China. The Flash Sales model, represented by VIP.com, has become one of the three main modern ecommerce business models in China.