Disclaimer

Past performance does not guarantee future results.

Investment involves risk. Past performance is not indicative of future performance. Asset prices may move up or down, may fluctuate dramatically, and may become valueless. It is likely that losses will be incurred rather than profit made as a result of buying and selling assets. Some assets are denominated in RMB which are currently not freely convertible, and are thus subject to risks associated with RMB including RMB foreign exchange risk, RMB hedging risk, offshore RMB (“CNH”) market risk and RMB trading and settlement risk. Assets which are invested in emerging markets and smaller companies may also involve a higher degree of risk and are usually more sensitive to price movements. Investors should carefully consider whether trading or investments are suitable in light of their own financial positions and investment objectives, and understand that they shall be wholly responsible for their investments. The information herein does not constitute investment advice, or an offer to sell, or a solicitation of an offer to buy any security, investment product or service nor a distribution of information for any such purpose. This material is provided to the client for informational purposes only. The figures presented on this material are for reference only. Informational sources are considered reliable but you should conduct your own verification of information contained herein, The investment review and asset allocation adjustments may be derived from the information you provide to us and are built upon the assumptions that an appropriate risk level will depend on your investment objective, investment horizon, liquidity needs, investment knowledge and experience, attitude towards risk and return expectation. Your information may have material impact on the investment review and asset allocation adjustments that you must provide us information that is valid, true, complete, accurate and updated where your failure in doing so would affect the accuracy and reliability of our review and adjustments. This material is issued by Nice Talent Asset Management Limited and it has not been reviewed by the Securities and Futures Commission (“SFC”) of Hong Kong,