Global Backbone Technology, Ltd. is a holding company incorporated in the Cayman Islands with operations conducted by our subsidiaries based in Hong Kong and China.  Our direct wholly owned subsidiary, Floade Technology Company Limited, is a Hong Kong corporation. Our PRC (People’s Republic of China) subsidiary is Zhengzhou Feizhiyue Automobile Sales Co., Ltd, a PRC corporation and the wholly owned subsidiary of Floade.

Note: Unless otherwise indicated, all share and per share information in this prospectus gives effect to a 1-for-6.3428225 reverse stock split effected in April 2022.

Note: The daughter of Richard Rappaport, the Founder of Westpark Capital, Inc., beneficially owns all 378,380 ordinary shares held by Century Processing, Inc. See “Principal Shareholders” section of the prospectus.

Our current main operating line of business is vehicle rental and the providing of attendant vehicle maintenance services conducted through our operating subsidiary, Feizhiyue. The customer primarily leases vehicle from Feizhiyue for use in on-line car hailing. As of December 31, 2021, Feizhiyue manages a fleet of 494 vehicles under lease contracts with vehicle rental periods generally ranging from one to three years. Feizhiyue’s comprehensive vehicle management services are provided under its standard lease agreements and focus on improving the commute experience for car-hailing drivers These services include preventive and regular maintenance, advanced diagnostics, emergency road service, fleet services, and safety programs.

Feizhiyue also provides comprehensive vehicle management services to third party car-hailing operators for their car-hailing drivers such as driver training, 24-hour road rescue (including fuel delivery, electricity delivery, trailers) and other services, as well as consultation and analysis of traffic laws and operating policies for car-hailing drivers. Feizhiyue also assists in handling unexpected situations regarding driver qualification as well as traffic accidents during the operation process.

In an effort to strategically expand Feizhiyue’s operations in line with the climate control objectives of the Chinese government, and in cooperation with local government and public resources, Feizhiyue initiated the construction of an electric vehicle charging station network in Henan province. As of December 31, 2020, Feizhiyue had constructed four distinct charging stations offering an aggregate of 175 chargers in Zhengzhou, the provincial capital of Henan. Feizhiyue’s charging services are offered to the general public and currently specifically to drivers on the Didi Chuxing (“Didi”) network. Feizhiyue’s user base primarily consists of drivers of online car- hailing vehicles and taxis, as well as logistic and private vehicle owners. Feizhiyue earns service fees from providing the charging services.

In addition, Feizhiyue developed and launched an intelligent charging service platform which acts in concert with our charging station network. Users access Feizhiyue’s intelligent charging service platform through its official WeChat account, called “Xiaofei Charging.” Users can visit the “Xiaofei Charging” official account on We Chat, an interface to connect to Feizhiyue’s intelligent charging platform, to search available chargers and then go to the charging stations by using the map navigation function. In this prospectus, we refer to Feizhiyue’s intelligent charging service, as accessed through our official WeChat account, as our “platform,” our “application,” or our “mobile application.” The platform also supports users making charging appointment remotely, to avoid the situation that all chargers are being occupied when they arrive, and to pay charging fees in advance. Feizhiyue can also implement vehicle management, monitoring, charging sequence and vehicle coordination through the platform, which is useful in managing and enhancing the usage of each charging station.

For the year ended December 31, 2021, revenues primarily derived from (i) vehicle leasing which constituted 78.1% of revenues, (ii) vehicle management services provided to customers under leasing agreements which constituted 4.0% of revenues, (iii) charging services which constituted 12.4% or revenues, and (iv) miscellaneous sales of cars and car accessories which constituted 5.4% of revenues.

(Note: Global Backbone Technology Ltd. filed its F-1 on Sept. 13, 2022, and disclosed terms – 1.25 million ordinary shares at $4.00 to $5.00 – but did not include a proposed stock symbol.)