Xiao Yuan Zhang

Beijing New Oriental Xuncheng Network Technology Co., Ltd. engages in the operation of an online education platform. It provides diverse courses for examinations for studying abroad, academic qualifications, vocational education, English learning, multiple languages, and junior school education. The company was founded on March 11, 2005 and is headquartered in Beijing, China.

Thornburg Investment Management, Inc. (Thornburg) is a privately-held, SEC-registered investment advisor headquartered in Santa Fe, New Mexico. The firm was founded by H. Garrett Thornburg in 1982. Thornburg provides discretionary portfolio management and investment services to a number of client types, including: Thornburg Investment Trust, registered investment companies as to which Thornburg is a sub-adviser, separate accounts for institutional clients and private clients, wrap fee accounts of sponsored program accounts, unified managed account programs, private investment funds and other non-SEC registered investment vehicles.

Tian Hong Asset Management Co., Ltd. (Tian Hong) is the investment adviser subsidiary of Ant Group Co., Ltd. in China. Headquartered in Tianjin, Tian Hong was founded in 2004 and provides investment advice and investment consultancy services.

Great Wall Fund Management Co., Ltd. (GWFM) is an independent asset management firm headquartered in Shenzhen, China. The firm was jointly founded in 2001 by Great Wall Securities Co., Ltd., Orient Securities Co., Ltd., Northern International Trust Co., Ltd., and Centaline Trust Co., Ltd. GWFM manages open and closed-ended funds for institutional investors.

Taiping Fund Management Co., Ltd. (Taiping FM) is the fund management subsidiary of Taiping Asset Management Co. Ltd., which is ultimately held by the Government of China. The firm is headquartered in Shanghai and was founded in 2013. They provide a range of fund management services for individual and institutional investors.

Minsheng Royal Fund Management Co., Ltd. (Minsheng RFM) is an independent joint venture fund management firm which was founded in 2008 by China Minsheng Banking Co., Ltd., Royal Bank of Canada Financial Group, and Three Gorges Finance Co., Ltd. Headquartered in Shenzhen, Minsheng RFM is the first joint venture firm in China which has both domestic and foreign banks as major shareholders. They manage the Minsheng fund range for a range of clients including institutions, insurance companies, securities firms and asset management companies.

New China Fund Management Co., Ltd. (New China FMCL) is the fund management subsidiary of Hengtai Securities Co., Ltd. (HK: 1476) in China. Established in 2004, the firm is headquartered in Chongqing and manages a range of funds distributed through leading Chinese banks, securities firms, insurance companies, trust companies and other financial institutions.

Chengtong Securities Co. Ltd. is an investment management firm headquartered in Beijing, China. The firm was founded in 2003 as New Times Securities Co. Ltd. Chengtong Securities provides a range of investment management services to institutional investors such as fund management companies, asset management companies, insurance companies and securities companies.