Ruhnn Holding ^{Priced, Nasdaq: RUHN}

Key opinion leader (KOL) facilitators identify and cultivate internet KOLs and help them monetize their social influence and handle related business operations. We are the largest internet KOL facilitator in China as measured by revenue in 2018. We are also China's largest internet KOL facilitator in e-commerce as measured by GMV in 2018 and number of signed KOLs, fans and online stores as of December 31, 2018. As of December 31, 2018, we had 113 signed KOLs with an aggregate of 148.4 million fans across major social media platforms in China. Through our KOLs, we facilitated the sale of an aggregate GMV of RMB1.2 billion, RMB2.0 billion and RMB2.2 billion on various e-commerce platforms in fiscal years 2017 and 2018 and the first three quarters of fiscal year 2019, respectively. KOLs, are individuals who have the power to engage and impact people within a specific community or field, such as fashion, culture, entertainment and gaming, and internet KOLs are KOLs who have gained their popularity through the internet. Our founders were among the earliest entrepreneurs in China to identify and capture the commercial opportunities created by the emergence of internet KOLs in China and started to cooperate with KOLs in e-commerce in 2014. We pioneered the commercialization of KOL ecosystem through a full-service model whereby we integrate key steps of the e-commerce value chain, from product design and sourcing, online store operation to logistics and after sales services.