On the evening of April 19, the China Securities Regulatory Commission issued a message stating that the CSRC approved the initial application of four enterprises including Beijing Yuanliu Hongyuan Electronic Technology Co., Ltd. (Yuanliu Hongyuan) in accordance with legal procedures. According to the arrangement, the above-mentioned enterprises and their underwriters will negotiate with the exchange to determine the issuance schedule, and successively publish the prospectus documents. Yuanliu Hongyuan issued the "Abstract of Intent Letters for Initial Public Offering of Shares", which stated that during the reporting period, the operating income and gross profit of the blockchain hardware industry in the company's agency business accounted for a relatively high proportion. The state's regulation of the virtual currency industry tends to be strict, and bitcoin prices fluctuate significantly, which will also adversely affect the demand for blockchain hardware such as mining machines. The above-mentioned changes in industry policies and market changes will affect the order demand of the company's related fields in the short term, which may adversely affect the operating income and profit of the agency business.