Yong Xu

SWS Research Co., Ltd. is the investment research subsidiary of Shenwan Hongyuan Securities Co., Ltd., which is owned by Shenwan Hongyuan Group Co., Ltd. (SHE: 000166) in China. Headquartered in Shanghai, the firm was founded in 1992 to offer a wide range of products and services to global investors who want to invest in Chinese equity market. SWS Research provides clients with securities research service that covers over 500 key stocks in Asian market, as well as economics, strategy, bond, fund and derivatives research. Their clients include almost all major domestic institutional investors such as mutual funds, insurance companies, banks and trusts. They also serve QFII and other overseas institutional investors.

Shanghai Rising Investment Management Ltd. is a professional investment management company based in Shanghai, China. and has subsidiaries in China. The CEOs are Dan Feng Wang, Yi Nan Yang. The Chinese company was founded in 2000.

China Galaxy Securities Co., Ltd. (Broker) (CGS) is the brokerage division of government-owned China Galaxy Securities Co., Ltd. (SHA: 601881). Headquartered in Beijing, CGS was founded in 2007 and provides securities and futures brokerage, proprietary trading and other securities trading services to institutional clients. The Securities Brokerage segment offers margin financing, securities lending, and securities dealing and broking. The Futures Brokerage segment provides futures dealing, broking, consulting, and training. The Proprietary Trading and Other Securities Trading Services segment includes bonds, funds, derivatives, and equity trading.

Everbright PGIM Fund Management Co. Ltd. (Everbright PGIM) is a China-based joint venture firm between Everbright Securities Co. Ltd., a subsidiary of majority shareholder, state-controlled China Everbright Group Corp. and Pramerica Investment Management, a subsidiary of US-based Prudential Financial, Inc. (NYSE: PRU). The firm was founded in 2004 and as Everbright Pramerica Fund Management Co., Ltd. Headquartered in Shanghai, Everbright PGIM manages mutual funds distributed to Chinese retail investors through banks and brokerage firms.

Ping An Annuity Insurance Company of China, Ltd. (Ping An Pension) is the pension fund insurance subsidiary of Ping An Insurance (Group) Co. of China Ltd. (SH: 601318, HK: 2318) in China. Established in 2004, the firm is located in Shanaghai and provides a diversified range of corporate pension investment products.

Huashang Fund Management Co., Ltd. (HFM) is an independent Chinese fund management firm which was established in 2005. Based in Beijing, the firm's shareholders include China Dragon Securities Co. Ltd, China Huadian Finance Co. Ltd. and Jigang Group Corp.