Li Mei Hu

Zhejiang Zheshang Securities Asset Management Co. Ltd. (Zhejiang AM) is the asset management subsidiary of Zhejiang Securities Co., Ltd., ultimately held by Zhejiang State-Owned Assets Supervision and Administration Commission in China. The firm is headquartered in Hangzhou and was founded in 2002. Zhejiang AM provides a range of asset management services to individual and institutional investors.

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.