company information

Company Profile

We manufacture and sell a wide selection of bakery products, seasonal products (i.e. products sold during particular holiday seasons), and beverage products in our PRC stores (the “PRC Stores”) and U.S. stores (the “U.S. Stores”); some of these stores also offer eat-in services.

The PRC Stores and the U.S. Stores currently focus their business in the Xinjiang Uygur Autonomous Region (“Xinjiang”) of the PRC and New York City and plan to expand to other regions of the PRC and the U.S. The PRC Stores and the U.S. Stores aim to make healthy, nutritious, and ready-to-eat food through advanced facilities and industry research and to create a comfortable, yet distinguishable store environment in which customers can enjoy their products.

We currently manage 60 chain stores under the "George●Chanson" brand in Xinjiang and three stores in New York City while selling on digital platforms and third-party online food ordering platforms.

The PRC stores manufacture the majority of bakery products in their central factory located in Urumqi, Xinjiang, prepare beverage products within the stores, and contract third-party manufacturers to produce seasonal products. The U.S. Stores bake bakery products, prepare breakfast, lunch and all-day brunch, bar food, and other light meals for eat in, and make beverage products all within their kitchen in the store. To ensure the quality and safety of their products, the PRC Stores and the U.S. Stores procure raw materials, including flour, eggs, and milk, from renowned suppliers with a record of consistently supplying high-quality raw materials over decades in the food industry. In addition, the PRC Stores and the U.S. Stores have implemented a rigorous quality control system covering their entire operation process and mandated internal training to improve their employees’ awareness and knowledge of food safety.

The PRC Stores and the U.S. Stores have a dedicated and highly-experienced product development team that constantly creates new products that reflect market trends and are designed to meet customer demand. As of December 31, 2024, the PRC Stores had more than 1027 types of bakery products, seasonal products and beverage products on sale, including over 93 types of new products introduced to the market since January 1, 2024, and the U.S. Stores had 100 types of eat-in menu items and bakery products on sale, including 30 types of new products introduced to the market since January 1, 2024. The PRC Stores and the U.S. Stores also offer a large number of beverage products and update their drink menus seasonally and in response to ever changing customer demand. By continuously offering new products and refining their product formulas to enhance existing products, we believe that the PRC Stores and the U.S. Stores are able to steadily bring in new customers and drive the frequency of their existing customers’ visits to their stores, digital platforms, and store page on third-party platforms.

Management Team

Gang Li

Chairman and Chief Executive Officer

Mr. Li has been our Chief Executive Officer since September 2022, our Chairman since September 2020, and our Director since July 2019. Mr. Li served as the chief executive officer of Xinjiang United Family Trading Co., Ltd. (“Xinjiang United Family”) from May 2016 to January 2018 and from August 2015 to January 2016. Mr. Li has been the chief executive officer of Urumqi Plastic Surgery Hospital Co., Ltd. since July 2011 and the chief executive officer of Urumqi Marie Gynecological and Obstetrical Hospital (Limited) since August 2009, responsible for the operations and investment of the companies. Mr. Li received his bachelor’s degree in Chinese Literature from Xinjiang University in 1989.

Jihong Cai

Chief Financial Officer

Ms. Cai has been our Chief Financial Officer since September 2020. Ms. Cai has served as the chief financial officer of Xinjiang United Family since September 2018. Prior to joining Xinjiang United Family, Ms. Cai served as the chief financial officer of Xinjiang Dongbao Group from June 2016 to August 2018, as the chief financial officer of Xinjiang Fudiyuan Real Estate Development Co., Ltd. from June 2011 to May 2016, and as the chief financial officer of Xinjiang Osman Biotechnology Co., Ltd. from July 2002 to January 2011. Ms. Cai is a Chinese Certified Tax Agent, accountant, and financial planner. Ms. Cai received her bachelor’s degree in Accounting from Hubei University in 1991.

Board of Directors

Name	Role
Gang Li	Chairman and Chief Executive Officer
Bin Li	Independent Director
Shuaiheng Zhang	Independent Director
Jie Li	Independent Director

Gang Li

Chairman and Chief Executive Officer

Bin Li

Independent Director

Mr. Li has over 15 years of experience in accounting, financial management, capital markets, and corporate governance. He currently serves as Chief Financial Officer of MultiMetaverse Holdings Limited (Nasdaq: MMV), where he leads financial strategy, reporting, compliance, capital management, and investor relations. In this role, Mr. Li has overseen the company’s successful de-SPAC business combination, SEC filings, and ongoing public company compliance. Since January 2021, Mr. Li has been serving as a Sponsor of Embrace Change Acquisition Corp (Nasdaq: EMCG), a special purpose acquisition company, where he has led the SPAC’s IPO, target identification, and transaction execution, including SEC and audit processes. Since June 2015, Mr. Li has been serving as Head of Board Office at Beijing Gaia Interactive Network Technology Co., Ltd., where he directed board office operations, led multiple rounds of private and public financing, and managed investor relations and information disclosure for the company’s listing on China’s National Equities Exchange and Quotations (“NEEQ”, New Third Board). From 2008 to 2015, Mr. Li held financial management and accounting positions at Beckman Coulter Australia, Vinci Group (France), and AMF Bowling Centers in Sydney, Australia, where he was responsible for financial reporting, audit support, cash management, and compliance across multinational operations. Mr. Li holds a master’s degree in accounting CPA extension from Macquarie University and a bachelor’s degree in finance from Tianjin University of Finance and Economics. He is a full member of CPA Australia and holds a Board Secretary qualification for China’s NEEQ market.

Shuaiheng Zhang

Independent Director

Mr. Zhang has served as our Independent Director since August 2023. Mr. Zhang has over 40 years of business and managerial experience in electronic components manufacturing and new energy industries. Since September 2019, Mr. Zhang has been serving as the General Manager at Sunwoda Electronic Co., Ltd, a company listed on the Growth Enterprise Market of Shenzhen Stock Exchange since 2011 and a developer and manufacturer of lithium-ion battery cells and modules. From December 2015 to September 2019, Mr. Zhang served as the General Manager and Chairman of the Board of Directors of Shenzhen SEG Longyan Energy Technology Co., Ltd., a company engaged in the development and sales of solar power plants and accessories. Prior to that, Mr. Zhang served as the General Manager of Shenzhen SI Semiconductors Co., Ltd, a power semiconductor device manufacturer with international presence from July 2013 to December 2015. Mr. Zhang received his EMBA degree from Tsinghua University in People’s Republic of China in 1998 and a bachelor’s degree from Xidian University in People’s Republic of China in 1986.

Jie Li

Independent Director

Mr. Li has served as our independent director since August 2024. Mr. Li has worked as a lawyer at Beijing DeHeng Law Offices (Urumqi) since April 2016. He received his Bachelor of Laws degree from Shandong University of Finance and Economics in 2008.