<SEC-DOCUMENT>0001213900-20-016554.txt : 20210805
<SEC-HEADER>0001213900-20-016554.hdr.sgml : 20210805
<ACCEPTANCE-DATETIME>20200702155104
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-20-016554
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sentage Holdings Inc.
		CENTRAL INDEX KEY:			0001810467
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		501, PLATINUM TOWER, 233 TAICANG RD
		STREET 2:		HUANGPU
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200020
		BUSINESS PHONE:		86-21 5386 0209

	MAIL ADDRESS:	
		STREET 1:		501, PLATINUM TOWER, 233 TAICANG RD
		STREET 2:		HUANGPU
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200020
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Sentage Holdings
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">July 2, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. William Schroeder</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mail Stop 4631</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 5%; padding-bottom: 8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 83%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Sentage Holdings Inc.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amendment No. 1 to Registration Statement on Form F-1</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Submitted May 8, 2020</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CIK No. 0001810467</B>&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Mr. Schroeder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sentage Holdings Inc.
(the &ldquo;<B>Company</B>&rdquo;, &ldquo;<B>Sentage</B>,&rdquo; &ldquo;<B>we</B>&rdquo;, &ldquo;<B>us</B>&rdquo; or &ldquo;<B>our</B>&rdquo;)
hereby transmits its response to the letter received from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Securities and Exchange
Commission (the &ldquo;<B>Commission</B>&rdquo;), dated June 4, 2020 regarding its Registration Statement on Form F-1 (the &ldquo;<B>Registration
Statement</B>&rdquo;) confidentially submitted on May 8, 2020. For ease of reference, we have repeated the Commission&rsquo;s comments
in this response letter and numbered them accordingly. An amended Draft Registration Statement on Form F-1 (the &ldquo;<B>Amended
Draft Registration Statement</B>&rdquo;) is being submitted confidentially to accompany this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Form F-1 DRS submitted May 8, 2020</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Prospectus Summary, page 1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>1. We note that you are only managing
the repayment and collection of loans that borrowers had obtained from individual investors through your offline loan recommendation
business, which you had operated until the end of 2017, and that since the end of 2017 you have not charged any new fees for loan
repayment and collection management. Consistent with your disclosure on page 59, disclose here that you have not provided any intermediary
services for any new investors due to changes in related governing regulations in China. Please also expand your disclosure on
page 59 to identify and discuss in detail the applicable regulations that impacted your business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 1 and page 59 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2. Consistent with your disclosure on
page 64, please disclose in the prospectus summary the percentage of your operating revenue derived from your three business lines
for the fiscal year ended 2019. Please also highlight in the prospectus summary that 91.3% of your 2019 revenue was derived from
the consumer loan repayment and collection management services under engagements that will be completed by the middle of 2020.
Also, consistent with your disclosure on page 61, clarify in the prospectus summary that you have not secured a new source of revenue
to replace the loss of your current engagements. Please also include risk factor disclosure related to exiting your initial line
of business, as applicable. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on pages 3, 11, and 90 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3. We note that the revenue generated
from your payment services consisted of technology consulting and support fees. Consistent with your disclosure on page 60, please
disclose here that you have not issued any prepaid cards for your potential customers yet. Please also reconcile this with disclosure
in this section that appears to indicate you have issued prepaid cards, such as the disclosure that your &ldquo;merchant customers
choose us because we are a licensed prepaid card issuer capable of offering multipurpose prepaid cards and a licensed payment service
provider.&rdquo; In addition, consistent with your disclosure on page 64, clarify here that the number of customers for your prepaid
network payment business was two for the fiscal year ended 2019. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company has revised its disclosures on page 2 and page 60 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risk Factors, page 10</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4. We note your disclosure on page 7
that you elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1)
of the JOBS Act. Please revise to include a risk factor explaining that this election allows you to delay the adoption of new or
revised accounting standards that have different effective dates for public and private companies until those standards apply to
private companies, and as a result of this election, your financial statements may not be comparable to companies that comply with
public company effective dates. Include a similar statement in your critical accounting policy disclosure. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 47 and page 73 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5. Please also address in the risk factors
any potential difficulties with the ability of U.S. regulators to conduct investigations, inspections, or collection of evidence
within the PRC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 34 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Use of Proceeds, page 51</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6. Please disclose the estimated net
amount of the proceeds broken down into each principal intended use thereof. Refer to Item 3.C.1 of Form 20-F.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 51 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Corporate History and Structure,
page 55</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>7. Please include a separate paragraph
for each entity listed in the diagram with the exception of the holders of the equity interest in Sentage Holdings, Inc. In each
paragraph disclose:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><B>the date formed and its business purpose;</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9679;</B></FONT></TD><TD STYLE="text-align: justify"><B>the amount of assets and equity at December 31, 2019;</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9679;</B></FONT></TD><TD STYLE="text-align: justify"><B>the number of employees at the same date;</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9679;</B></FONT></TD><TD STYLE="text-align: justify"><B>the revenues earned and profit/loss for the year ended
December 31, 2019; and,</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&#9679;</B></FONT></TD><TD STYLE="text-align: justify"><B>how such revenues were earned and the fee structure
in place at December 31, 2019.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 56 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Key Financial Performance Indicators,
page 64</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8. Please revise your disclosure to
state, if true, that data related to the number of service agreements under your consumer loan repayment and collection management
business is as of the beginning of the period (i.e., January 1, 2018 and 2019).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 64 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Industry &ndash; Loan Recommendation
Business Model, page 81</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9. We note your disclosure on pages
2, 81, 89, 93 and 107 that as of the date of the prospectus, you deliver value in the form of delinquency rate of zero percent
and that mortgage loans granted to borrowers recommended by the Company achieved a default rate of zero percent as opposed to an
industry average of approximately 3% for similar loans. Considering you did not begin offering loan recommendation services until
June 2019, it appears the loans recommended by the Company could be less seasoned than those captured in the industry average.
Please enhance your disclosures to address this potential issue of comparability with industry averages and the fact that the delinquency
and loss rates associated with the loans recommended by the Company may increase in the future as the loans become more seasoned.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on pages 2, 81, 89 and 107 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Continue to Invest in Technology,
Focusing on Artificial Intelligence And Data Analytics, page 94</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>10. We note your plan to develop a mobile
app. Please discuss in greater detail your plan regarding the development of a mobile app, including its intended purpose related
to your products and services, the timeline of its development, and the anticipated costs to develop. Please also clarify if additional
financing will be needed to develop this.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 52 and page 94 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Maintain the Steady Growth of Our
Loan Recommendation Business, page 95</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11. You disclose that you have a signed
memorandum of understanding with Jiangxi Finance Limited Group Co. Ltd., a state-owned asset management corporation. Please disclose
the material terms and conditions of any relevant agreements, understandings or arrangements. If applicable, please also file the
same as an exhibit to the registration statement pursuant to Item 601(b)(10) of Regulation S-K, or advise.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 95 of the Amended Draft Registration Statement and filed the memorandum of
understanding as Exhibit 10.9 to the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Repayment and Collection Management
Process, page 96</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>12. We note your disclosure on page
97 that the total amount to be repaid and collected increased from approximately $68.0 million at December 31, 2018 to approximately
$74.4 million at December 31, 2019. Please revise to explain how the amount to be repaid and collected increased during FY 2019
despite the fact that you are only managing the repayment and collection of loans that borrowers had obtained from individual investors
which you operated until the end of 2017.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 97 of the Amended Draft Registration Statement to clarify this issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>13. As a related matter, we note your
disclosure on page 98 discussing the underlying reasons for the decrease in the total amount repaid and collected and yearly average
repayment and collection rate for the 2019 fiscal year. Disclosure indicates that the decrease was due to the fact that you are
only managing the repayment and collection of loans that borrowers had obtained from individual investors through your offline
loan recommendation business, which you operated until the end of 2017, and the fact that your current loan servicing and collection
management engagements will all be completed by the middle of 2020. Please revise your disclosure to elaborate on how these factors
caused a decline in the amount repaid and collected and the yearly average repayment and collection rate, especially considering
the fact that the total value of loans borrowers are obligated to repay investors increased during 2019.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 98 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Business Partners, page 107</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>14. We note that you provide loan recommendation
services to a group of funding partners, have maintained partnership with two third-party referral partners, maintained long-term
partnerships with several third-party appraisers, and use services provided by technology companies such as Tianyancha and Qichacha
to access larger borrower databases. We also note your disclosure on page 23 that you rely on third-party service providers, such
as borrower acquisition partners, data providers, and third-party collection agencies, to conduct your business, and enter into
collaboration contracts with fixed terms with such service providers. Please tell us whether you are substantially dependent upon
any existing agreements with these service partners, and if so revise to summarize the material terms of any such agreements. Please
also clarify the use of the term &ldquo;funding partners&rdquo; throughout so as to clarify to whom these partners are providing
funding to. In this regard, please clarify if the funding partners are providing funds to your business or providing loans to borrower
applicants you recommend to the &ldquo;funding partners.&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on pages 23, 107 and 108 of the Amended Draft Registration Statement. The Company respectfully
inform the Staff that it is not substantially dependent upon any existing agreements with these services providers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Our Customers, page 110</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>15. We note your disclosure that you
have had three active payment service customers. Please clarify what you mean by &ldquo;active&rdquo; payment service customers,
and if and how this differs from your prepaid card payment services. Also reconcile this with your disclosure on page 64 that you
have two customers for your prepaid payment network business. Further, provide support for your disclosure that a majority of your
customers were established, large corporations, including large shopping malls, with the remaining customers being small-to-medium
size merchants, and that the diversity of your merchant customers underscores the usability and flexibility of your offerings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page 64 and page 110 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Our Collaboration with NetsUnion,
page 111</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>16. We note that you entered into a
network access agreement with NetsUnion in July 2019. We also note from your risk factor on page 20 that you are dependent on NetsUnion,
and any changes to its rules or practices could harm your prepaid payment network business. Please file this agreement as an exhibit
to the registration statement, or advise. Refer to Item 601(b)(10) of Regulation S-K.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to the Staff&rsquo;s
comment, the Company filed the network access agreement with NetsUnion as Exhibit 10.10 to the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Lock-Up Agreements, page 159</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>17. Please briefly describe the &ldquo;certain
exceptions&rdquo; to the lock-up agreements.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Response: In response to the Staff&rsquo;s
comment, the Company revised its disclosure on pages 149 and 159 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Notes to Consolidated Financial Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 2 Summary of Significant Accounting
Policies </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Restricted Cash, page F-11</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>18. We note your disclosure on page
F-11 that in connection with the Company&rsquo;s newly launched prepaid payment network service business, the Company is required
to make security deposit with PRC banks in order to issue prepaid gift and debit cards to customers. Please revise to include an
enhanced discussion of the nature, terms and purpose of the security deposit, which is recorded as restricted cash.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-11 of the Amended Draft Registration Statement No.1 to provide an enhanced
discussion of the nature, terms and purpose of the security deposit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Revenue from consumer loan repayment
and collection management services, page F-13</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>19. We note that your disclosure that
loan repayment management fee is recognized when a specific borrower repays the principal and interests to an investor within the
loan term and that once a specific loan is repaid the Company&rsquo;s obligation is satisfied. We also note your disclosure that
collection management fee is recognized at early of either successful recovery of full or part of a delinquent loan or after 12
months from the time such loan becomes delinquent. Lastly, we note your disclosure that these fees are recognized over time when
designated services are performed. Please refer to ASC 606- 10-25-24 and revise your disclosure to clarify whether revenue is recognized
at a point in time or over time and how you made that determination. In the event you recognize revenue at a point in time, please
revise to include disclosures required by ASC 606-10- 50-19. In the event you recognize revenue over time, please revise to include
the disclosures required by ASC 606-10-50-18.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company is providing the following explanation as to why its performance obligations under our loan repayment and
collection management services are satisfied over time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 606-10-25-24, an
entity shall determine at contract inception whether it satisfies the performance obligation over time or satisfies the performance
obligation at a point in time. In addition, in accordance with ASC 606-10-25-27, an entity transfers control of a good or service
over time, and therefore satisfies a performance obligation and recognizes revenue over time, if one of the following criteria
is met:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a. The customer simultaneously receives
and consumes the benefits provided by the entity&rsquo;s performance as the entity performs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">b. The entity&rsquo;s performance creates
or enhances an asset (for example, work in process) that the customer controls as the asset is created or enhanced;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c. The entity&rsquo;s performance does
not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed
to date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The criterion that &ldquo;the customer
receives and consumes the benefits as the entity performs&rdquo; applies to the Company&rsquo;s loan repayment and collection management
services. Pursuant to the service agreements between the Company and its customers, customers authorized the Company to monitor
and manage the repayment and collection process of outstanding loans over the loan terms which range from one to four years. In
addition, when a loan becomes delinquent, the Company is then required to assist in collection efforts for an extended service
period of 12 months starting on the day such loan becomes delinquent. The Company&rsquo;s obligations include reconciling borrower
repayment record and sending payment reminders and notices periodically, facilitating repayment upon maturity and collaborating
with third-party collection agents and law firms in the event of delinquency. As a result, the Company&rsquo;s performance obligation
under these service agreements are carried out continuously over the term of the loan or for an additional 12 months for delinquent
loans, and customers simultaneously receive and consume the benefit provided by the Company&rsquo;s performance as the Company
performs its obligations. As such, the Company determined that its performance obligations with respect to its loan repayment and
collection management services are satisfied over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, in response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-14 of the Amended Draft Registration Statement No.1 to revise the disclosure
of revenue recognition associated with the Company&rsquo;s loan repayment and collection management services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>20. We note your disclosure on page
F-13 that loan repayment management fee is recognized when a specific borrower repays the principal and interests to an investor
within the loan term and that collection management fee is recognized at earlier of either successful recovery of full or part
of a delinquent loan or after 12 months from the time such loan becomes delinquent. This disclosure appears to imply that you have
identified two distinct services accounted for as separate performance obligations rather than one performance obligation with
a single method of measuring progress. Please revise to clarify whether the loan repayment management fee and the collection management
fee are accounted for as separate performance obligations or as a single performance obligation. Refer to ASC 606-10-25-14 through
25-22.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company is providing the following explanation as to why its loan repayment and collection management services are
accounted for as a single performance obligation,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 606-10-25-14, an
entity should account for a promise as a separate performance obligation if the promise meets the criteria to be distinct or if
it represents a series of distinct goods or services. In addition, in accordance with ASC 606-10-25-22, if a promised good or service
is not distinct, an entity shall combine that good or service with other promised goods or services until it identifies a bundle
of goods or services that is distinct. In some cases, that would result in the entity accounting for all the goods or services
promised in a contract as a single performance obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Company&rsquo;s agreements
with customers, loan repayment and collection management services are parts of bundled services offered by the Company to customers
and are not capable of being distinct because the Company is required to concurrently monitor and manage the repayment and collection
process of outstanding loans to be entitled to receive a fixed service fee. There is no separate terms in service agreements to
specify the Company&rsquo;s contractual promise to transfer the loan repayment service and collection management service separately.
Loan repayment service and collection management services are highly interrelated because the Company is required to follow up
with the borrowers for repayment while at the same time put much efforts to assist in the collection efforts when the loan becomes
delinquent. If a loan is successfully repaid upon maturity, the Company has no further obligation but still receive a fixed fee
for this particular contract. On the other hand, if a loan becomes delinquent, the Company is required to exhaust all collection
efforts on behalf of customer for an additional 12-month period from the date such loan becomes delinquent but no additional fee
can be charged beyond the initial fixed fee. As a result, loan management services and collection management services are not separately
identifiable in the context of the contract and accordingly are treated as a bundled single performance obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, in response to the Staff&rsquo;s
comments, the Company revised its disclosures on page F-13 of the Amended Draft Registration Statement No.1 to revise the disclosure
of revenue recognition associated with the Company&rsquo;s loan repayment and collection management services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>21. As a related matter, we note your
disclosure that pursuant to the service agreements, investors authorized the Company to monitor and manage the repayment and collection
process of outstanding loans for a fixed service fee, which was paid upfront by investors. Please tell us the amount of the transaction
price (upfront fee) allocated to each of the performance obligation(s) including significant judgements that influenced your allocation.
Refer to ASC 606-10-32-28 through 32-41, ASC 606-10-50-17(b) and ASC 606-10-50-20(c).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company is providing the following explanation as to why there is no variable consideration in our loan repayment
and collection management services, and why, as a result, it allocates the transaction price to one single performance obligation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 606-10-32-28 through
32-41, an entity should allocate the transaction price to each performance obligation (or distinct good or service) in an amount
that depicts the amount of consideration to which the entity expects to be entitled in exchange for transferring the promised goods
or services. To meet the allocation objective, an entity shall allocate the transaction price to each performance obligation identified
in the contract on a relative standalone selling price basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As explained in the Company&rsquo;s response
to comment #20 above, the Company&rsquo;s loan repayment and collection management services are parts of bundled services specified
in the service agreements and are not capable of being distinct because the Company is required to concurrently monitor and manage
the repayment and collection process of outstanding loans to be entitled to receive a fixed service fee. Loan repayment service
and collection management services are highly interrelated because the Company is required to follow up with the borrowers for
repayment while at the same time put much efforts to assist in the collection efforts when the loan becomes delinquent. As a result,
loan management services and collection management services are not separately identifiable in the context of the contract and
accordingly are treated as a bundled single performance obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates its loan repayment
and collection management service contracts and determined that there is no standalone selling price for each of loan repayment
and collection management service contracts, and no variable consideration or separated deliverables identified in the same fixed
contract, because the Company&rsquo;s promise to transfer each of these services is not separately identifiable from other promises
in the contract. As a result, fixed fees received from the customers upfront are deferred first, and then ratably recognized as
revenue over the loan terms or for an extended service period of 12 months starting on the day such loan becomes delinquent, when
designated services are performed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, in response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-14 of the Amended Draft Registration Statement No.1 to revise the disclosure
of revenue recognition associated with the Company&rsquo;s loan repayment and collection management services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>22. Please revise your disclosure to
provide an enhanced discussion explaining how each performance obligation associated with consumer loan repayment and collection
management services is satisfied and the effect that these factors have on the contract liability balance. In the event you recognize
revenue over time, please disclose how you measure progress toward complete satisfaction of each of the performance obligations.
Refer to ASC 606-10-50-9, ASC 606-10-50-10(e) and ASC 606-10-50-17.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Response: In response to comments #19
to #21 above, the Company revised its disclosure of revenue recognition related to how its performance obligation associated with
consumer loan repayment and collection management services is satisfied. In addition, in response to the Staff&rsquo;s comment,
the Company revised its disclosure on page F-14 of the Amended Draft Registration Statement No.1 to revise its disclosure on the
effect of satisfaction its performance obligation on its contract liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Revenue recognition, page F-13</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>23. We note your disclosure on page
F-13 that you early adopted ASC 606 using the modified retrospective approach. Please revise future filings to disclose when you
adopted ASC 606.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-13 of the Amended Draft Registration Statement No.1 to revise the disclosure
of the ASC 606 adoption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Revenue from services provided to
borrower for loan recommendation, page F-14</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>24. We note from your disclosure on
page 89 that you charge your referral partners a commission pursuant to a service agreement. Please revise to disclose your revenue
recognition policy for these commissions along with the applicable disclosures required by ASC 606-10-50.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-14 of the Amended Draft Registration Statement No.1 to revise the disclosure
of revenue recognition associated with the Company&rsquo;s loan recommendation services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 13 Segment Reporting, page F-24</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>25. We note your disclosure that management
of the Company concluded that it has only one reporting segment, which is followed by a table indicating the Company has three
segments: consumer loan repayment and collection management; loan recommendation services; and prepaid network services. Please
revise as necessary to clarify this discrepancy.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comments, the Company revised its disclosure on page F-24 of the Amended Draft Registration Statement No.1 to revise the segment
disclosure. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Item 7. Recent Sales of Unregistered
Securities, page II-2</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>26. Please disclose the exemption from
registration claimed for these issuances and state briefly the facts relied upon to make the exemption available. Refer to Item
701 of Regulation S-K. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comment, the Company revised its disclosure on page II-2 of the Amended Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibit Index, page II-6</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>27. Please file executed copies, rather
than or in addition to the &ldquo;Form of&rdquo; versions, of Exhibits 10.3 through 10.8 with your public filing and prior to requesting
effectiveness.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comment, the Company will file executed copies of Exhibits 10.3 through 10.8 with its public filing and prior to requesting effectiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>General</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>28. We note that you appear to refer
to clients or customers as investors throughout your registration statement. Please clearly disclose how these investors differ
from shareholders, and consider identifying your clients or customers in a way that distinguishes them from current and future
shareholders, or advise.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response:</B> In response to the Staff&rsquo;s
comment, the Company revised its disclosure throughout the Amended Draft Registration Statement to refer to its customers as such
and not as investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We thank the Staff for its review of the
foregoing. If you have further comments, we ask that you forward them by electronic mail to our counsel, Ying Li at <U STYLE="text-decoration: none">yli@htflawyers.com</U>
or by telephone at 212-530-2206.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ <I>Qiaoling Lu</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Qiaoling Luq</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">cc:</FONT></TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Ying Li, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Hunter Taubman Fischer &amp; Li LLC</FONT></TD></TR>
<TR>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">9</P>

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