On March 6th, 1998, China Southern Asset Management Co., Ltd. (hereinafter referred to as "Southern Asset Management") was officially established as one of the first domestic asset management companies approved and regulated by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"), which symbolizes the start of our nation's "New Golden Era for Funds". Currently,with its headquarters in Shenzhen, Southern Asset Management has 6 branches and 2 subsidiaries. Southern Asset Management has stood the tests of time throughout periodic shifts between bull and bear market in Chinese capital market. By showing stable and sustainable performances and providing improved and professional services, Southern Asset Management managed to continuously build the trust and recognition of a wide range of investors, including mutual fund investors, the National Council for Social Security Fund, corporate annuity clients and high-net-worth clients. Southern Asset Management has grown into one of the industry leaders that boasts diverse range of products, comprehensive type of business activities, exceptional investment performance and a large scale of assets under management. As of December 31th, 2019, Southern Asset Management and its subsidiaries have a scale of combined assets under management (AUM) that totaled USD 153.9 billion.