THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT. GLOSSARY OF TECHNICAL TERMS

This glossary of technical terms contains explanations of certain technical terms used in this document. As such, these terms and their meanings may not correspond to standard industry meanings or usage of these terms.

“14th Five-Year Plan” a series of social and economic development initiative drafted during the fifth plenum of the 19th Central Committee of the Communist Party of China in October 2020, covering the five-year period from 2021 to 2025

“AI” artificial intelligence

“ASEAN” the Association of Southeast Asian Nations

“Belt and Road Initiative” a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organizations

“CAGR” compound annual growth rate

“CRM” Customer Relationship Management

“CSI 300 Index” a capitalization-weighted designed to replicate the performance of 300 stocks traded on the Shanghai and Shenzhen Stock Exchange, which is compiled by the China Securities Index Co., Ltd. (中證指數有限公司)

“CSI 500 Index” a capitalization-weighted stock market index compiled by the China Securities Index Co., Ltd. (中證指數有限公 司) and designed to replicate the performance of 500 stocks traded on the and the Shenzhen Stock Exchange

“ETFs” exchange-traded funds

“FICC” fixed-income, currencies and commodities

“Generation Y” people who are born from 1980 to 1995

“Generation Z” people who are born from 1995 to 2010

“Guangdong-Hong Kong-Macau a megalopolis, consisting of nine cities and two special Greater Bay Area” administrative regions in South China, under a cooperative development framework signed in 2017

[REDACTED]

“M&A” mergers and acquisitions

–23– THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT. GLOSSARY OF TECHNICAL TERMS

“operating income” operating income of a securities firm derived from financial statements prepared in accordance with the PRC GAAP

“OTC” over-the-counter

“QDII” Qualified Domestic Institutional Investor (合格境內機構 投資者)

“QFII” Qualified Foreign Institutional Investor (合格境外機構投 資者)

“RQFII” Renminbi Qualified Foreign Institutional Investor (人民 幣合格境外機構投資者), a program launched in the PRC which allows Hong Kong subsidiaries of PRC securities firms and funds to facilitate investments of offshore Renminbi into domestic securities market

“Shanghai-Hong Kong Stock a securities trading and clearing links program developed Connect” by the Hong Kong Stock Exchange, Shanghai Stock Exchange, HKSCC and China Securities Depository and Clearing Corporation Limited for the establishment of mutual market access between Hong Kong and Shanghai, including Southbound Trading and Northbound Trading

“Shenzhen-Hong Kong Stock a securities trading and clearing links program under Connect” development by the Hong Kong Stock Exchange, Shenzhen Stock Exchange, HKSCC and China Securities Depository and Clearing Corporation Limited for the establishment of mutual market access between Hong Kong and Shenzhen, including Southbound Trading and Northbound Trading

“SSE 50 Index” a capitalization-weighted stock market index that selects 50 largest stocks of good liquidity and representatives traded on the Shanghai Stock Exchange

“ST stock(s)” special treatment stock(s) of listed companies that experience unusual circumstances in their financial condition or operation, exposing them to delisting risks or making it impracticable for investors to evaluate the companies’ business prospects

“sq.m” square meter

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