The relationship between Zhengzhou Fengshen Real Estate Development Co., Ltd. and Poly is that Poly initiated the establishment of Zhengzhou Fengshen Real Estate Development Co., Ltd., and Zhengzhou Fengshen Real Estate Development Co., Ltd. (or Zhengzhou Fengshen Company) was established in Zhengzhou Economic Development Zone by Xinbao (Tianjin) Equity Investment Fund Management Co., Ltd. (or Xinbao Fund Company). Xinbao Fund Company, the actual controller of the company, was jointly established by Poly Real Estate (Group) Co., Ltd. and CITIC Securities in Tianjin Binhai New Area on 20 10. It is a fund management institution focusing on real estate investment, with the scale of fund management and investment ranking first among domestic real estate investment funds.