Investor Presentaiton

SZ/SH Market Statistics Average 74% of Shanghai listcos are SOE controlled SH SOE/Private % Comparison by Sectors 100% Private ■SOE 90% SOE Average: 74% 80% 9% 6% 5% 3% 1% 40% 37% 36% 30% 29% 29% 25% 20% 100% Private Only 38% of Shenzhen listcos are SOE controlled SZ SOE/Private % Comparison by Sectors ■SOE 70% 61% 58% 90% 60% 80% 50% 40% 30% 20% 10% 0% IT Health Care Real Estate Retailing Auto Insuranc Materials Cons Stap Telecom Capital Goods Diversified Fin Banks Transportation Energy 70% Utilities 0% Source: Wind and Citi Research; Note: Sector distribution by mkt-cap. YTD, turnover velocity in Shenzhen 4.0x vs. 3.0x in Shanghai SH vs SZ Turnover Velocity Comparison Source: Wind and Citi Research; Note: Sector distribution by mkt-cap. Retail is holding more shares in Shenzhen than Shanghai SH vs. SZ Holding Structure Comparison IPO waiting list concentration on Shenzhen IPO Waiting List Distrubition - SH vs. SZ Telecom Banks Health Care IT Real Estate Retailing Capital Goods Cons Stap 11% 26% 25% 60% TT 64% 62% 60% 56% 74% 72% 70% 70% 83% 50% 100% 100% 40% - 30% SOE Average: 38% 20% 10% Materials Auto Energy Utilities Transportation Diversified Fin SH -SZ 100% 500% 90% ■Foreigner 450% 400% 80% 350% 70% 300% 60% 8% ■Gov't and Corporates GEM (SZ) 39% Main Board (most in SH) 32% 250% 50% 200% 40% 7% ■Institutional Investor 150% 30% 60% 100% 20% 37% ■Retail 50% 10% Investor SME (SZ) 29% 0% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 SH SZ Source: Wind and Citi Research; Note: Using number of companies given data availability. Source: Wind and Citi Research; Note: Turnover Velocity is calculated using annualized trading value divided by average total market cap. Source: Wind and Citi Research 13 cíti H

View entire presentation