Blooming Glory Hospitality Inc., the catering agency company established in New York by our company, has become one of franchisees of Gyu-Kaku Yakiniku in North America. Based on several commercial negotiations with the president Toshi Hayakawa and the vice president, Aki Yamaguchi from headquarters of Ox Horn in North America, we determined to set up the first franchised outlet in White Plains, New York. By learning from the management experience of the first franchised outlet and deepening understanding of overall Gyu-Kaku system, we plan to select locations in Brooklyn and Long Island of New York, Jersey City of New Jersey, Washington, and Philadelphia and invest capital gradually to open franchised outlets of Gyu-Kaku. Meanwhile, a part of restaurant brands from Chinese mainland under our agency will also enter and be stationed in New York Market.