Ann: Response to ASX Query Letter, page-14

Everyone, I just reached out to Russell from Tinjoy and received a most exciting and unexpected update -

He said that they are currently all hands on deck to aim for a June 18th launch with a very good chance of making the deadline. The reason being that June 18th is China's second largest shopping event. And just for scale, Black Friday sales in the US generated $9 billion USD, while China generated $74 billion USD in their Singles day sales. The June 18th Mid Year sales is the 2nd largest sales and that was a $38 billion day in 2020, still more than 4 times larger than Black Friday in the US. So the size and scale of the Chinese market is unmatched in the world.

Now this is what's exciting. They aim to launch on June 18th, the beginning of the sales period, and their forecasts is a minimum conservative 250,000 sales. Which is only a quarter of their 1 million users in the first year of launch. That is $10M USD~ approx per month of revenue to be split between Tinjoy and AHI. PER MONTH. This is all happening less than a month away. They do expect subscription sales to spike well beyond the 250,000 subscriptions, and I will be reaching out to them over the next few weeks to see if I can be updated on their progress. They are working closely with AHI's tech team to achieve this deadline date. It's important to also note they have no competitors in the market.

Also just an FYI, as I am living in China and I see the force of the Chinese market with my own eyes, I once saw an online streamer sell 100 Rolls-Royce Limited Edition vehicles for about $1.5m or $2m USD each in 37 seconds. The marketing events that happen every year in China (Mid-year, Singles Day, etc.) is completely unparalleled and I'm really happy to see Tinjoy making good use of these marketing days.

Also as you can see from the aware query today, Tinjoy is well established in the local networks (Including many government connections) to market the hell out of this and to really generate some traction.

Previously I have written about Tinjoy here as well: