Investor Presentaiton

2022 H2 outlook: A-share market While uncertainties continue to impact the global economic environment, China's State Council has rolled out detailed policy measures to control the COVID-19 pandemic while continuing to promote high quality economic development. These measures are expected to aid the country in achieving sustained growth of the domestic economy, creating a favourable environment for fund- raising in A-share markets. The IPO pipeline remained robust with about 856 applicants. This is mainly attributable to the number of applicants in the STAR Market and the ChiNext board, indicating solid confidence and market recognition. In terms of sectors, TMT and industrial manufacturing comprised 71% of the pipeline and they are expected to remain the key drivers of IPOs on A-share markets. With the country's effective control of the pandemic, combined with fiscal and monetary measures to support growth, the economy in mainland China is expected to gradually improve over the rest of year, creating a favourable environment for fund-raising. The registration-based IPO system is expected to be adopted throughout A-share markets this year, further stimulating IPO activities in mainland China's capital market. Louis Lau Partner Capital Markets KPMG China KPMG © 2022 KPMG, a Hong Kong (SAR) partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Printed in Hong Kong (SAR). Mainland China and Hong Kong IPO markets 12

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