First of all, operational risk is one of them. Since Happy Buy mainly sells goods through TV shopping channels, if the number of viewers or consumers' acceptance of TV shopping declines, it may have an adverse impact on the company's operation. Secondly, the market competition risk is also an important risk factor. Tesco's main competitors include other TV shopping companies and e-commerce companies. These companies may compete for market share through price reduction and promotion, which will adversely affect the company's operation. In addition, policy risk is also a factor to be considered. If the government's policy on TV shopping changes, it may have an adverse impact on the company's operation. Finally, financial risk is also a potential risk factor. If the company has difficulties in raising funds and using funds, it may have an adverse impact on the company's operation. Therefore, there are certain risks in the business model of Happy Buy.