Introduction of Goldman Sachs Gaohua Securities Co., Ltd.

Goldman Sachs Gaohua Securities Co., Ltd. is a Sino-foreign joint venture securities company. Established in February 2004 by Goldman Sachs Group, the world's leading investment bank, and its strategic partner in China, Beijing Gaohua Securities Co., Ltd. (hereinafter referred to as "Beijing Gaohua"). Headquartered in Beijing, the company provides customers with a wide range of investment banking services, including underwriting various securities such as stocks, bonds and convertible bonds, and can also provide financial advisory services such as mergers and acquisitions and other related services. The management of the company is held by senior securities professionals at home and abroad, including Chairman Fang, CEO, CFO, Compliance Director Chen Li and Song Bing, member of the company management committee.