competitive relationship. Yifeng Capital and China Resources Capital are in a competitive relationship, but their investment directions are different. China Resources Capital Management Co., Ltd. (hereinafter referred to as "China Resources Capital") is a business unit of China Resources Group, which is responsible for private equity investment. It is the only operation and management platform of the Group's industrial funds, a bridge for the synergy between industry and finance, and a promoter of innovation and development. As the Group's industrial fund management platform, China Resources Capital conducts fund operation business closely around the Group's industries and national macro policies, and is responsible for initiating and managing private equity funds in various fields at home and abroad, and coordinating fund raising, fund management and middle and back office management of the Group's industrial funds; Give full play to the advantages of flexible industrial fund mechanism, fault tolerance and effective incentive.