Chao Luan

New China Fund Management Co., Ltd. (New China FMCL) is the fund management subsidiary of Hengtai Securities Co., Ltd. (HK: 1476) in China. Established in 2004, the firm is headquartered in Chongqing and manages a range of funds distributed through leading Chinese banks, securities firms, insurance companies, trust companies and other financial institutions.

China Post & Capital Fund Management Co., Ltd. (CPCFM) is an independent Chinese investment advisory firm which was founded in 2006. Headquartered in Beijing, the firm provides a range of services including fund raising, fund sales, asset management and other business activities as permitted by China Securities Regulatory Commission. They are the investment manager of several open-ended investment funds.