Haitong Securities Co., Ltd. (hereinafter referred to as “Haitong” or the “Company”) was founded in 1988 as one of the earliest securities companies and is one of securities companies boasting strongest comprehensive strength in mainland China. It is ranked as one of the top in brokerage, investment banking, M&A, asset management, funds, margin trading & short selling, futures and PE investment. The predecessor of the Company is Shanghai Haitong Securities Company, which was transformed into a limited liability company in 1994, and then gradually developed into a national securities company. In the end of 2001, the Company was further transformed into a limited corporation, and increased its registered capital to RMB8.734bn in 2002 to become the comprehensive securities company with the largest capital in China at that time. In 2005, the Company successfully became the trustee for Gansu Securities and Xinan Securities to realize a low-cost fast expansion, and was appointed as the pilot innovative securities firm.