Pan Xiao

Minsheng Royal Fund Management Co., Ltd. (Minsheng RFM) is an independent joint venture fund management firm which was founded in 2008 by China Minsheng Banking Co., Ltd., Royal Bank of Canada Financial Group, and Three Gorges Finance Co., Ltd. Headquartered in Shenzhen, Minsheng RFM is the first joint venture firm in China which has both domestic and foreign banks as major shareholders. They manage the Minsheng fund range for a range of clients including institutions, insurance companies, securities firms and asset management companies.

JPMorgan First Capital Securities Co. Ltd. provides financial advisory services. It makes steadfast commitment to conducting innovative, all-inclusive and cooperative environment. The company is headquartered in Beijing, China.

Truvalue Asset Management Co. Ltd. (Truvalue AM) is a Chinese asset management firm which was formed as a joint venture between First Capital Securities Co Ltd. and Shenzhen Jinhe Partners Co Ltd. in 2014. The firm is based in Shenzhen and provides asset management services to institutional and sophisticated investors.

Guosen Securities Co., Ltd. (Investment Management) (GSC-IM) is the investment management division of Guosen Securities Co. Ltd. (SZ: 002736) in China. The firm was founded in 1994 as Shenzhen International Investment Securities Ltd. Headquartered in Shenzhen, GSC-IM provides private banking services for private clients.