Changsheng Fund Management Company Limited

Company Overview Changsheng Fund Management Company Limited (Changsheng) was founded in March 1999 with registered capital of RMB 150 million. As a leading fund management company, Changsheng is among the first ten fund management companies founded in PRC. And it is one of the first six fund management companies approved by the Chinese government to manage the National Social Securities Funds (NSSF). In September 2006, Changsheng was appointed as the Chinese advisor to DBS Asset Management (later acquired by, and renamed as Nikko Asset Management) for its QFII funds. In October 2007, Changsheng received regulator's approval under the QDII scheme. With this license, Changsheng has launched a global fund which focuses on leading industries in developed economies. Changsheng has developed a full spectrum of fund products, including 2 closed-end funds, 17 open-end funds, and five NSSFs, which spans from money market funds featured with lower risk to equity market funds featured with higher risk, meeting preferences of different investors. Changsheng's success is attributed to its continuous focus on creating superior values and delivering best services for its clients. In April 2007, DBS became a strategic shareholder of Changsheng. Upon the completion of the transaction, GuoYuan Securities owns 41% of company shares, and DBS owns 33% of shares, and Anhui Credit Guarantee Group and Anhui Investment Group each owns 13%. With the strong support from our key shareholders, Changsheng aims to help our clients to maximize their financial returns with our solid market knowledge and local resources, as well as our global expertise in research, investment and risk management.