has set up a new cultural company in Shanghai.

The Qichacha APP shows that recently, Shanghai Wanshili Culture Co., Ltd. was established, with Zhao Yan as the legal representative and a registered capital of 10 million yuan. Its business scope includes organizing cultural and artistic exchange activities, wholesale and retail of clothing and accessories, and sales of textile products. The equity penetration of Qichacha shows that the company is wholly owned by Wanshili.