Company: YIBO
Filing Date: 2025-06-03
Form Type: F-3
Source: 0001213900-25-050771
Chunk: 14

Company: Planet Image International Ltd
Filing Date: 2025-06-03
Form: F-3
Chunk 14
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 market. Aster US functions as a wholesaler and distributor and interacts
with retailers, resellers, and dealers in the North American market. Since its inception, Aster US has focused its operations on the offline
sales to customers and dealers in the North American market and has not conducted any e-commerce related business. In July 2011, Aster
NL was formed in the Netherlands as a limited liability company, which later became our headquarters serving mainly the European market.
In February 2012, through the operating subsidiaries, we commenced our operations of our first online retail store on Amazon. Since 2012,
Mr. Weidong Gu has assumed leadership of our operations. Mr. Gu had a strong vision to seize the potential business opportunity in the
compatible toner cartridge industry and led our Company with a focus on research and development, patent protection, manufacturing operations,
as well as overseas sales operations. Through Mr. Weidong Gu and the management team’s continuous leadership and contributions over
the years, we have expanded our footprint to North America and European markets through the operating subsidiaries. Through the operating
subsidiaries, we currently own over 400 registered patents in the U.S., Europe, and the PRC for the production process, equipment, and
proprietary technologies we developed relating to the manufacture of our compatible toner cartridges. Currently we also operate 11 online
retail stores on online selling platforms through the operating subsidiaries, which help us expand our reach to end consumers.

In August 2019, Aster Group International, whose
name was later changed to Planet Image International Limited, was formed under the laws of the Cayman Islands as our offshore holding
company to facilitate offshore financing.

From July 2019 to March 2020, in anticipation
of our initial public offering, we completed a series of reorganizational steps.

<div align='center'>1</div>

Our Corporate Structure

The following diagram illustrates our corporate
structure as of the date of this prospectus, including our principal subsidiaries and other entities that are material to our business:

Notes:

Through Aster Online Company Limited, we also
directly own 100% of the equity interests in 11 limited liability companies incorporated in Hong Kong in March 2020, namely Peony Trade
Co., Limited, White Poplar Co., Limited, Joyful Product Trade Co., Limited, Grand Future Trade Co., Limited, Oriental Poetry Co., Limited,
Prosperity Product Trade Co., Limited, Atlantic Marketing Co., Limited, Pigeon King Co.,