Qutoutiao ^{Priced, Nasdaq: QTT}

We are the No. 2 mobile content aggregator in China in terms of MAUs and average DAUs in July 2018. Our flagship mobile application, Qutoutiao, meaning "fun headlines" in Chinese, aggregates articles and short videos licensed from professional media or uploaded by our more than 230,000 freelancers, and presents customized feeds to users. These feeds are optimized in real time based on each user's profile, behavior and social relationships through our proprietary AI-powered content recommendation engine. Since its launch in June 2016, Qutoutiao has rapidly gained popularity, reaching MAUs of approximately 48.8 million, average DAUs of approximately 17.1 million and average daily time spent per DAU of approximately 55.6 minutes in July 2018. Since our inception, we have strategically targeted users from tier-3 and below cities in China because of the enormous opportunities in this underserved market. We currently generate revenue primarily by providing advertising services.