High Templar Tech Limited operates as a holding company through a variable interest entity structure in China to comply with foreign investment restrictions, having historically conducted diverse operations across e-commerce, food delivery, last-mile logistics, and credit services. The Group has substantially wound down its core business lines and currently generates limited revenue from remaining operations while exploring new business opportunities and international expansion, including establishing a warehouse facility in Australia. The company maintains a significant cash position and operates through contractual arrangements with Chinese entities, managing cash transfers between its Cayman Islands holding company, Chinese subsidiaries, and variable interest entities under strict internal controls.