Company: YIBO
Filing Date: 2025-06-03
Form Type: F-3
Source: 0001213900-25-050771
Chunk: 16

Company: Planet Image International Ltd
Filing Date: 2025-06-03
Form: F-3
Chunk 16
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 channels under four brands, TrueImage, CoolToner, Aztech, and Toner Bank.
Customers of the operating subsidiaries range from wholesalers and dealers to retail customers. Through the operating subsidiaries, we
have a wide international footprint through established sales channels, with products sold to customers in over 54 countries and sales
in North America and Europe representing the majority of our revenue.

Through the operating subsidiaries, we sell our
products mainly: (i) to offline overseas customers who own their brands on an ODM basis; (ii) to offline overseas dealers who primarily
sell our self-branded products and white-label products to end consumers; and (iii) directly to customers on a retail basis under self-owned
brands through online retail platforms. There is no major difference in terms of product capability between ODM products and white-label
products, and the main difference lies in product packaging and pricing. In recent years, through the operating subsidiaries, benefiting
from the growth in the online compatible toner cartridge market in North America and Europe, we have seen a substantial growth in our
sales to offline overseas dealers with growing online sales business.

Through the operating subsidiaries, we have established
localized sales operations in the overseas markets to manage and maintain relationships with local customers and provide support to offline
customer purchasing the operating subsidiaries’ self-branded products and products offered by the operating subsidiaries on an ODM
basis. So far, the operating subsidiaries have established sales operations in the U.S., Italy, Germany, France, and the UK. In addition,
the operating subsidiaries maintain warehouses in California and Pennsylvania in the U.S. and in the Netherlands, the UK, France, and
Italy to ensure timely delivery to customers. In North America, most customers of the operating subsidiaries send purchase orders to us
through the electronic data interchange system maintained by the operating subsidiaries. The operating subsidiaries also have a self-developed
cloud-based warehouse management system, which was integrated with their electronic data interchange system and third-party platform to
manage purchase orders, inventory, and accounting matters. Offline customers of the operating subsidiaries in Europe and other markets
generally place purchase orders with the sales team of the operating subsidiaries through emails.

We believe the operating subsidiaries’ strong
design, research, and development capabilities represent a key strength that allows the operating subsidiaries to provide patent-compliant
products with advanced technologies to their customers. After a new printer model is introduced to the market by a printer manufacturer,
the experienced research and development team of the operating subsidiaries will aim to design patent compliant compatible