Sunrise New Energy Co. Ltd. (China)

The Company, a consulting company, provides enterprise services to small and medium-sized enterprises in the People s Republic of China.
The Company is a holding company incorporated in the Cayman Islands with no material operations of our own. The Company is not a Chinese operating company. Investors of its Ordinary Shares do not own any equity interests in the VIE, but instead own shares of a Cayman Islands holding company. The knowledge sharing and enterprise service platform operations are conducted in China by the VIE and its subsidiaries. The Company do not have any equity ownership of the VIE, instead, it control and receive the economic benefits of the VIE's business operations through contractual arrangements, or “VIE Agreements” entered into among WFOE, SDH and SDH's shareholders. The VIE Agreements are used to provide contractual exposure to foreign investment in China-based companies where Chinese law prohibits direct foreign investment in Chinese operating companies.
The Company operates a peer-to-peer knowledge sharing and enterprise service platform, where knowledge is shared, and services are requested and provided. It also provides educational consulting, new energy investment, cultural and artistic exchanges and planning, conference, information technology, technical, business incubation, and enterprise information technology integration services, as well as manufactures lithium battery materials. The company offers its services through Shidonghui App, a mobile application; and offline through directly operated local offices and 51 local centers.
Based on the management's assessment, the Company determined that it has only one operating segment and therefore one reportable segment as defined by ASC 280. The Company's assets are substantially all located in the PRC and substantially all of the Company's revenue and expense are derived in the PRC. Therefore, no geographical segments are presented.
HISTORY
2014: The Company was founded in 2014.
2019: The Company is a limited liability company established under the laws of the Cayman Islands on February 22, 2019. It is a holding company with no business operation.
On March 22, 2019, the Company incorporated Global Mentor Board Information Technology Limited (“GMB HK”), a limited liability company formed in accordance with laws and regulations of Hong Kong. GMB HK is currently not engaging in any active business and merely acting as a holding company of Beijing Mentor Board Union Information Technology Co, Ltd. (“GIOP BJ” or “WFOE”). GIOP BJ or WFOE was incorporated by GMB HK as a Foreign Enterprise in China on June 3, 2019.
2021: The Company s Ordinary Shares have been listed on the Nasdaq Capital Market since February 9, 2021. Its Ordinary Shares trade under the symbol “SDH.”
2022: The company was formerly known as Global Internet of People, Inc. and changed its name to Sunrise New Energy Co., Ltd. on August 10, 2022. In conjunction with the name change, the Company's ordinary shares are expected to begin trading on the NASDAQ Capital Market under the new ticker symbol “EPOW” as of the opening of trading on August 15, 2022. The Company's ordinary shares have previously traded under the ticker symbol “SDH”. The name change and ticker symbol change do not affect the rights of the Company's shareholders.