RAYS Capital Partners Limited (“RAYS”) is a private investment management company based in Hong Kong, co-founded by David Ruan, responsible for equity strategies, and Amy Yip, responsible for income strategies. Both principals have long and deep experience in the Asia Ex Japan markets investing on behalf of institutions, family foundation offices and private investors.

David has over 30 years of experience in finance and investments. He was the Partner & CEO/CIO of Ajia Partners Asset Management (HK) Ltd. (“Ajia Partners”). In the 8 years at Ajia Partners, David had successfully built an investment management operation with over US$1 billion of assets under management and advice focusing on Asia regional equities.

David’s prior positions includes CIO & Deputy CEO at AXA Investment Managers (HK) Limited, Director of Global Investments at New-Alliance Asset Management (Asia) Ltd. in Hong Kong, Executive Director at Barclays Global Investors Hong Kong, and Managing Director for Fiduciary Trust International (Asia) Ltd. for the Asian region. He also held senior positions at National Australia Banking Group based in Australia, and was a Senior Manager/Treasurer for a private family group based in Singapore. In 1979, David started his finance career in China with a Chinese provincial government investment company.

RAYS Capital Partners Limited is licensed for Types 4 (advising on securities) and 9 (asset management) regulated activities under the Securities and Futures Ordinance of Hong Kong (with CE Number AXA409).

** RAYS Capital Partners Limited has been appointed by SHK Fund Management Limited (“SHKFM”) to provide investment advisory services to SHKFM in respect of SHK Wealth Infinity Discretionary Portfolio Management Services. SHKFM does not give any warranty or undertaking in respect of the licenses granted by the Hong Kong Securities and Futures Commission to RAYS Capital Partners Limited or the compliance of any regulatory requirements by RAYS. RAYS Capital Partners Limited and its employees, officers, directors, shareholders, advisors, agents, representatives and contractors (including those referred to in this document) are not and must not be regarded as the employees, representatives or agents of SHKFM or of SHKFM’s clients or having any relationship with SHKFM or SHKFM’s clients except the relationship of providing the investment advisory services to SHKFM as described in this note **.

Risk Disclosure Statements, Disclaimers and Important Notes

Founded in 2008, Beijing Longrising Asset Management Co., Ltd. (”Beijing Longrising”) is managed by a team of core members who are seasoned professionals from top-tier domestic asset management companies and research institutions. In order to provide high-end wealth management services and to target as becoming a leader of private equity fund industry in China, Beijing Longrising persists in applying its standardised risk management principles, seeking to maximise market returns and providing transparency and accountability. The company has a registered capital of RMB10 million and possesses comprehensive teams of investment research, risk management and customer service. The team also brings outstanding research and market analytical skills.

Beijing Longrising has an experienced and professional investment and research team. Mr Zeng XiaoJie, Investment Director and Portfolio Manager of Longrising, was honored with “Golden Sunshine Private Equity Investment Manager” in 2010, 2012 and 2013, and awarded the title of “Annual Star Private Equity Fund Manager” for several times. Mr Zeng used to work in China Life Insurance Asset Management Company Ltd. as Analyst, Assistant Fund Manager, and Fund Manager, and was responsible for the third-party discretionary equity investment business. Mr Zeng was also taking care of small and medium insurance companies’ trust funds and equity investments of more than ten enterprises’ annuity.

In addition, Mr Lu Xiaojiu, Research Director and Portfolio Manager of Beijing Longrising, has been awarded or been the candidate for the “Best Banking Industry Analyst Award” from New Fortune Magazine, the “Best Banking Industry Analyst Award” from Capital week Magazine and the “Banking Industry Golden Medal Analyst Award” from 21st Century Business Herald for three consecutive years in 2006, 2007 and 2008. He used to work in the Financial Department of China Life Insurance Co. Ltd., as Vice President in the Research Team of CITIC Securities Co., Ltd., and Associate Director of the BOCOM International Holdings Co., Ltd. Mr Lu joined Beijing Longrising at 2009 as a shareholder.

** Beijing Longrising Asset Management Co., Ltd. has been appointed by SHK Fund Management Limited (“SHKFM”) as the investment adviser of SHK Wealth Infinity Discretionary Portfolio Management Services providing advices to SHKFM. Beijing Longrising Asset Management Co., Ltd. does not hold any licence issued by the Hong Kong Securities and Futures Commission. Beijing Longrising Asset Management Co., Ltd. and its employees, officers, directors, shareholders, advisors, agents, representatives and contractors (including those referred to in this document) are not and must not be regarded as the employees, representatives or agents of SHKFM or of SHKFM’s clients or having any relationship with SHKFM or SHKFM’s clients except the relationship of being the investment adviser as described in this note. **

Risk Disclosure Statements, Disclaimers and Important Notes