Intelligent Hotel Group Ltd (ZHJD), formerly known as YCQH Agricultural Technology Co. Ltd, is a Nevada-incorporated holding company operating through PRC subsidiaries that, as of its FY2024 10-K filed July 17, 2025, generated essentially all revenue from online retail sales on third-party e-commerce platforms in China. The company earns transactional revenue by selling consumer goods sourced from third-party manufacturers as a marketplace seller, without maintaining private-label products or proprietary inventory infrastructure. Total revenue was $246,466 for the year ended December 31, 2024, a 52% decline from $510,235 in FY2023, driven by the shutdown of the online business in April 2024. A secondary segment, bio-carbon-based fertilizer (BCBF) trading, contributed $17 in revenue in FY2024 versus $57,803 in FY2023, and the BCBF subsidiary SCQC was fully disposed of in April 2025. Gross margin fell to 39% in FY2024 from 86% in FY2023. The company is headquartered at No. 188 and No. 5, East Beizhan Road, Shapingba District, Chongqing, China.

Revenue model

Transactional revenue from third-party e-commerce platform sales of consumer goods in China (100% of FY2024 revenue). Previously also included BCBF agricultural product trading and beauty products trading, both effectively wound down by FY2024.

Products and services

Online retail consumer goods sold via third-party PRC e-commerce platforms (FY2024 revenue: $246,449). Bio-carbon-based fertilizer (BCBF) produced through straw thermal decomposition, containing approximately 45% organic matter, 20% bio-charcoal, 10% humic acid, 5% NPK, and 20 million effective microorganisms per gram (FY2024 revenue: $17; BCBF subsidiary disposed April 2025). Beauty products trading (FY2023 revenue: $68,198; discontinued by FY2024).

Customers and end markets

End customers are Chinese consumers purchasing goods through domestic e-commerce platforms. Agricultural end market for BCBF was Chinese farmers seeking soil fertility and crop yield improvement products. No customer concentration data disclosed in the filing excerpts.

Value-chain role

Third-party marketplace seller on established PRC e-commerce platforms. Products sourced directly from third-party manufacturers with no private labeling or proprietary inventory. Distribution of BCBF was handled through subsidiary SCQC, which was disposed of in April 2025. The company does not operate its own e-commerce platform or manufacturing facilities.

Geographic exposure

Operations primarily in the People's Republic of China. Revenues and operating expenses denominated in Renminbi. Incorporated in Nevada, USA. Principal offices in Chongqing, China.

Source: SEC 10-K, filed 2025-07-17

Industry: Agricultural Chemicals