MindForge Inc.

MindForge Inc. provides artificial intelligence-driven value-added services to businesses in the insurance industry, including insurance carriers and brokers, through its PRC operating entities MF Beijing, MF Suzhou, Jiangsu Jingmo, Jiangsu YJYC and RDYJ. MF Technology Ltd. was incorporated on June 30, 2021 in the Cayman Islands, and the company has focused on these services since MF Beijing's establishment in 2018. Its business consists of four services/products: digital promotion services, risk assessment services, value-added bundled benefits, and sales of goods and other services. Through digital promotion, it helps institutional clients gain visibility on social media platforms and generates revenue based on consumers' clicks, views or clients' promotion time through those channels. It has developed a proprietary algorithm named "Magic Mirror" to calculate payout risks for insurance carriers underwriting auto insurance coverage; using this model, it generates individualized risk reports based on vehicle brand, model, travel area and vehicle age, and earns revenue based on the number of assessment reports provided to carriers. It also sells bundled benefits, including car washes, maintenance plans or parking notification, to major insurance carriers or brokers, which may pass them to customers at low or no cost. In addition, it provides insurance-related information to individual consumers through a mini-application embedded in other social media platforms to educate consumers and insurance brokers about the insurance industry. Its client base consists of more than 300 city-level property and auto insurance carriers nationwide.