Everbright and the Government of Liyang, Jiangsu Jointly Establish a Fund of Funds with a Targeted Size of RMB 2 Billion

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Everbright and the Government of Liyang, Jiangsu Jointly Establish a Fund of Funds with a targeted size of RMB 2 Billion. The AUM of Everbright’s FoF reached RMB 17.1 Billion

A strategic co-operation signing ceremony was held at China Everbright Limited (“Everbright”, stock code: 165.HK) with the People’s Government of Liyang, Jiangsu (“Liyang Government”) and China Everbright bank, Changzhou branch on 20th November. 2018. At the ceremony, Everbright and Liyang Government have signed a series of legal documents including Limited Partnership Agreement to establish the Liyang-Everbright fund of funds with a targeted size of RMB 2 billion. Jiangsu Pingling Construction Investment Group Co., Ltd.(Pingling Group) , a wholly owned subsidiary subscribed RMB 1 billion and Everbright subscribed RMB 1 billion (RMB 980 million from its LP and RMB 20 million from its GP). The Fund will be managed by the team of Everbright with extensive experience and professional fund managers.

Dedicated to emerging industries investment, Liyang- Everbright fund of funds will focus on areas such as intelligent manufacturing, information technology, clean energy, new materials, health care, tourism and entertainment industry, aeronautical and space technologies. The investment fund aims to carry out extensive cooperation in the emerging industry with the support of domestic and global resources, as well as Everbright’s extensive experience in cross border asset management.

中國光大控股有限公司 China Everbright Limited 香港夏愨道 16 號遠東金融中心 46 樓 46/F, Far East Finance Centre,16 Harcourt Road, Hong Kong 電話 T +852 2528 9882 傳真 F +852 2529 0177 www.everbright.com

Mr. Xu Huaqin, Mayor of Liyang,Mr. Chen Feng, Vice mayor of Liyang,Mr. Zhao Suhong, a member of the Party Group of Liyang Government, Mr. Huang Panfang, Chairman of Pingling Group, Ms. Xue Xiaohua, Chairman of China Everbright Bank, Changzhou branch, Mr. Chen Shuang, Executive Director & CEO of Everbright, Mr. Richard Tang,CFO of Everbright, Mr. Zhang Mingao, Executive Director & CIO of Everbright; Ms. Zhang Cheng, Managing Director of Everbright FoF Department , attended the signing ceremony.

Liyang, belongs to Changzhou, Jiangsu, is located in the south of Yangtze River delta. In April 2018, it ranked 28th in the top 100 moderately prosperous cities in China, it was recognised as a developed city, an ecological city, premier city for tourism, and a place for longevity The Liyang Government engaged in making Liyang becoming the most beautiful sub-center city in Nanjing-Hangzhou economic zone. Focusing on the requirement of high-quality development, Liyang has formed a new pattern with the backbone of Zhongguancun, Economic Development Zone and Jiangsu-Anhui Cooperation Demonstration Zone, and the growing advantages of power batteries, smart grid, farming and animal husbandry, feed machinery, automobiles and spare parts industries. Among them, the first-class 100 billion-grade power battery industry base in China has formed inshape.

Established in January 2015, Jiangsu Pingling Group is a wholly state-owned enterprise affiliated to the Liyang Municipal Government. It focuses on industrial investment, state-owned capital operation and state-owned assets operation around the "four major economies" of Liyang, and strives to develop the financial industry. The company's main business covers engineering construction, industrial investment, financial services and other sectors.

It is the first time that Liyang government cooperates with a cross-border asset management platform. Both sides will make full use of both domestic and international resources, utilising Everbright’s experience in cross-border asset operation, to launch a series of cooperation around emerging industries.

Everbright’s Fund of Funds (FoF) Since the establishment of its FoF in 2015, it has a proven track record of outstanding performance. Including Liyang-Everbright fund of funds, Everbright is managing 4 FoF with a total size of RMB 17.1 billion. The FoF combines Everbright's diversified platforms for investment, financing, management and withdrawal as well as strengths in strategic investment as a visionary central enterprise; with its partner's solid financial strength and extensive experience in asset management. The FoF is therefore able to generate stable returns with controllable risks through multi-strategy and comprehensive asset allocation. With its outstanding investment management capability, Everbright’s FoF attained “Top 30 PE Firms in China” by Zero2IPO Research; Top 20 Limited Partners in venture capital investment by China Venture in 2017.