Monthly report From an operational standpoint, two topics occupied virtually all of the Issuer’s attention during the month of June 2021. The first was the 618 Shopping Festival (“618”) and the second, the completion of the integration of Issuer’s Lending Hub and Gold River platforms to the China UnionPay network.
This year’s 618 event broke yet another record as more and more people were introduced to online shopping in the past 18 months due to COVID- 19. JD.com alone reported sales of 343B RMB (about CAD$66B) on its marketplace during the event, an increase of 27.7% compared to last year. According to China Internet Watch, the largest order volume on JD.com came from the province of Jiangsu, which is the province where the Issuer’s Chinese headquarters are located. The Issuer put forth a considerable amount of effort during the month of April to prepare for this year’s 618 event, working particularly hard with JD.com suppliers to ensure that they would have the financial resources they needed for the event, and the Issuer feels that those efforts paid off in a major way. The Issuer plans to publish the final results of the event on its operations within two to three business days of the filing of this monthly report.
The period also saw the Issuer complete the integration of its Lending Hub and Gold River platforms to the China UnionPay network. The Issuer is now able to process payments, settle transactions and transfer funds between lending institutions, banks and the businesses that are part of its Lending Hub ecosystem. Over 100 Lending Hub registered business clients opened virtual bank accounts within the Lending Hub ecosystem during the period and the Issuer officially launched its fund transfer and payment processing services with over 1,000 transactions processed during the month of June.