Changsheng Fund Management Company Limited (Changsheng) was founded in March 1999 with registered capital of RMB 100 million. A leading fund management company, Changsheng is one of the first ten fund management companies founded in the PRC, and also 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 China advisor to DBS Asset Management (DBSAM) for its QFII funds. In October 2007, Changsheng received approval under the QDII scheme. With this license, Changsheng will launch a global fund which focuses on varied industries in the fast growing economies in the world.

Over the past nine years, Changsheng has witnessed the development of China's capital market. Taking the advantages of the opportunities, Changsheng is on a fast growth path. In April 1999, Changsheng launched its first fund, Fund Tongyi which is a close-end fund. Today, Changsheng sponsors, markets and manages nine close-end and open-end mutual funds and five NSSF funds. The Company's net asset under management (NAUM) increases to RMB 75 billion. The accumulated dividends distributed to investors has exceeded RMB 6.2 billion.

Changsheng's success reflects a continuation of our focus on great values and great services. The strong client and financial results confirm the shareholders' confidence and investment. In April 2007, DBSAM became a strategic shareholder of Changsheng. On completion of the transaction, Guoyuan Securities Company Ltd (Guoyuan Securities) retains 41% stake, DBSAM owns 33%, and 13% each will be held by Anhui Provincial Innovative Investment Company Ltd and Anhui Provincial Investment Group Company Ltd. With the support of our stockholders, Changsheng will help our clients achieve better financial outcomes with our local market knowledge and resources, and our global expertise in investment and risk management.