No. Li Xun Enterprise Development (Shanghai) Co., Ltd. (hereinafter referred to as "Li Xun Logistics") is a logistics company under Belle International, which is established by private investment and belongs to private enterprises, not state-owned enterprises. Li Xun Logistics 20 18, a logistics company under Belle Group, has transformed from regional logistics to enterprise logistics, and will open its tripartite business to the whole society in 2020.