China Southern Selected Value Mixed Securities Investment Fund

Home , Bank of Dalian, Dongnan District, Guanshanhu District, Guomao Building, Lianxi District, Shenwan

Additional Information for Hong Kong Investors

October 2020

China Southern Selected Value Mixed Securities Investment Fund (the “Fund”) is a fund constituted pursuant to a fund contract between the Manager (as defined below) and the Custodian (as defined below) effective on 18 June 2008 (the “Fund Contract”) under the laws of the Mainland China and is authorized by the Securities and Futures Commission of Hong Kong (“SFC”) under section 104 of the Securities and Futures Ordinance (“SFO”) for public offering in Hong Kong pursuant to the Mainland - Hong Kong Mutual Recognition of Funds (“MRF”) arrangement. The Fund has been approved by and is subject to the ongoing supervision of the China Securities Regulatory Commission (“CSRC”).

This document and a product key facts statement containing the key features and risks of the Fund (“Product KFS”) are prepared for distribution in Hong Kong only and must be read in conjunction with the Prospectus of the Fund (the “Prospectus”) as updated from time to time and as registered with the Fund’s home regulator, the CSRC. This document and the Product KFS containing additional information for Hong Kong investors together with the Prospectus form the Hong Kong offering documents of the Fund for the distribution of Units (as defined below) of the Fund in Hong Kong. Units of the Fund are offered only on the basis of the information contained in this document, the Prospectus and the Product KFS and must be accompanied by a copy of the latest annual report and if published thereafter, the latest interim report and quarterly report of the Fund.

If there are inconsistencies between the information set out in this document and the information in the Prospectus, the information disclosed in this document relating to the Units offered to Hong Kong investors shall prevail. Words and expressions defined in the Prospectus have the same respective meanings when used in this document. Investors should carefully review the Fund’s investment objectives, features and all the risks involved before making a decision to invest.

China Southern Asset Management Co., Ltd. is the manager of the Fund (the “Manager”), and whose registered address is at 32-42/F, Fund Building, #5999 Yitian Rd,, Futian CBD, Shenzhen 518048, China. The Manager is registered and operates in the Mainland in accordance with Mainland laws and regulations and is licensed by the CSRC to manage publicly offered securities investment funds.

The Manager accepts full responsibility for the accuracy of the information contained in this document, the Prospectus and the Product KFS and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement misleading.

China Southern Selected Value Mixed Securities Investment Fund

Industrial and Commercial Bank of China Limited is appointed as the custodian of the Fund (the “Custodian”). It is qualified to act as custodian for publicly offered securities investment funds pursuant to Mainland laws and regulations.

IMPORTANT – If you are in any doubt about the contents of the Prospectus, this document and the Product KFS, you should seek independent professional financial advice.

SFC authorization is not a recommendation or endorsement of the Fund nor does it guarantee the commercial merits of the Fund or its performance. It does not mean that the Fund is suitable for all investors, nor is it an endorsement of its suitability for any particular investor or class of investors.

In relation to the funds referred to in the Hong Kong offering documents of the Fund including the Prospectus, this document and the Product KFS, the Fund is currently authorized by the SFC for offering to the public in Hong Kong pursuant to section 104 of the SFO.

Warning: Please note that other funds mentioned in the Hong Kong offering documents of the Fund including the Prospectus may not be authorized by the SFC for offering to the public in Hong Kong. It is an offence to offer any of these funds which have not been authorized by the SFC to the public in Hong Kong unless an exemption under section 103 of the SFO applies. Intermediaries should take note of this.

Without prejudice to the principle of fair and the same treatment for Mainland and Hong Kong investors, some of the services or information mentioned in the Prospectus may not be available or applicable to Hong Kong investors. Such matters include (but are not limited to):  information relating to unit classes other than Class H;  switching of units of the Fund to units of other funds managed by the Manager;  election for automatic distribution reinvestments;  periodic subscription service; and  customization of information service through the Manager’s website in the Mainland. Investors should carefully review the Prospectus and the relevant information described in this document and the Product KFS, and are advised to enquire with authorized distributors for details. Different authorized distributors may provide different types of services associated with investment in the Fund. Please check with authorized distributors for details.

Units Offered to Hong Kong Investors

The Fund is currently offering different classes of units in the Fund whereby Class A and Class C units are offered in the Mainland of the People’s Republic of China (the “Mainland”) (defined for this purpose only to exclude Hong Kong Special Administrative Region, Macau Special Administrative Region or Taiwan area), and class H units are offered in Hong Kong.

Only class H units (hereinafter referred to as “Units” or “Class H Units”) are currently available to Hong Kong investors and are denominated in RMB. Class H Units shall initially be issued at launch on the first Joint Business Day (as defined below) at the net asset value per unit of the existing Class A units of the Fund for that day, and thereafter shall be issued at the net asset value per Class H Unit calculated after Mainland market closes for each relevant day on

China Southern Selected Value Mixed Securities Investment Fund which Class H Units are dealt (please refer to the section below “Publication of Information” for further details regarding prices of Class H Units).

Class H Units are subject to the following:  Minimum initial subscription – RMB1,000  Minimum subsequent subscription – RMB1,000  Minimum holding – Nil  Minimum redemption – Nil

The Manager retains the right to offer additional class(es) of units of the Fund, which may be differentiated as to applicable fees, distribution rights and/or other features unique to each class(es). Holders of units of the same class shall have the same rights as to distributions on a pro-rata basis.

MRF in Hong Kong

Under the MRF arrangement, securities investment funds regulated by the CSRC and offered to the public in Mainland may be authorized by the SFC and offered to the public in Hong Kong subject to additional requirements imposed by the SFC.

MRF arrangement operates on the principles that: a) the fund should meet the eligibility requirements released by the SFC from time to time; b) the fund should remain authorized by or registered with the CSRC and is allowed to be marketed to the public within Mainland China; c) the fund should generally operate and be managed in accordance with the relevant laws and regulations in Mainland China and its constitutive documents; d) the sale and distribution of the fund in Hong Kong shall comply with the applicable laws and regulations in Hong Kong; e) the fund will comply with the additional rules released by the SFC governing the authorization or registration, post-authorization and ongoing compliance, and the sale and distribution of the fund in Hong Kong; and f) the management firm of the fund shall ensure holders of both Mainland China and Hong Kong receive fair and the same treatment, including in respect of investor protection, exercise of rights, compensation and disclosure of information.

The Fund has to meet the following eligibility requirements under the MRF arrangement for SFC authorization: a) the Fund is of an eligible fund type under the MRF; b) the Fund is established, managed and operates in accordance with Mainland laws and regulations and its constitutive documents; c) the Fund is a publicly offered securities investment fund registered with CSRC under the Securities Investment Fund Law of the People's Republic of China; d) the Fund has been established for more than 1 year; e) the Fund has a minimum fund size of not less than RMB 200 million or its equivalent in a different currency; f) the Fund does not primarily invest in the Hong Kong market; and g) the value of units in the Fund sold to investors in Hong Kong shall not be more than 50% of the value of the Fund’s total assets.

China Southern Selected Value Mixed Securities Investment Fund

If the Fund ceases to meet any of the requirements under the MRF arrangement following the SFC authorization, it may not be allowed to accept new subscriptions and may not continue to be marketed in Hong Kong and the Manager is required to notify the SFC immediately.

Hong Kong Representative

CSOP Asset Management Limited is appointed as the Hong Kong Representative of the Fund (the “Hong Kong Representative”).

CSOP Asset Management Limited will perform the duties required of a Hong Kong representative as prescribed under the SFC’s Code on Unit Trusts and Mutual Funds (“UT Code”).

The registered address and contact information of the Hong Kong Representative are: CSOP Asset Management Limited 2801-2803 Two Exchange Square, 8 Connaught Place, Central, Hong Kong Tel: +852 3406 0688 Fax: +852 3406 5599 Email: [email protected]

Distributor

The Manager and/or the Hong Kong Representative may from time to time appoint distributor(s) or sub-distributor(s) of the Fund licensed by or registered with the SFC for the offering of Units in Hong Kong (each an “Authorized Distributor”).

Dealings in Units

Dealings in Units in Hong Kong will be carried out on a daily basis, in accordance with and subject to the procedures as described below. For the purpose of this document, a "Hong Kong Business Day" means any day on which commercial banks in Hong Kong are open for business (other than a Saturday, Sunday or other day under Hong Kong law or regulations on which commercial banks in Hong Kong are required or authorized to close (including but not limited to any day where, as a result of a number 8 typhoon signal or higher or a black rain storm warning or other similar event in Hong Kong, the period during which banks in Hong Kong are open for normal banking business on any day is reduced, such day shall not be a Hong Kong Business Day), and the term “Mainland Working Day” is a day the Shanghai Stock Exchange and Shenzhen Stock Exchange are open for trading.

Applications for subscription and redemption of Units will only be processed on a Hong Kong Business Day which is also a Mainland Working Day (“Joint Business Day”). This means that Hong Kong investors will be unable to apply for subscription or redemption of Units through the Hong Kong Representative or Authorized Distributor on a day not a Hong Kong Business Day, despite such day being a Mainland Working Day or vice versa, and there shall be no dealing in Class H Units on such day.

Order Processing and Dealing Cut-off

Hong Kong investors should submit their subscription and redemption orders for Class H Units to the Hong Kong Representative or to Authorized Distributor(s) of the Fund in Hong Kong on any day which is a Joint Business Day, before the daily dealing cut-off time, which shall be no later than 3:00 p.m. (Hong Kong time). Certain Authorized Distributor may set different earlier

China Southern Selected Value Mixed Securities Investment Fund cut-off times. There may also be changes to the dealing and cut-off time arrangements as a result of market events. Investors should inquire with the Hong Kong Representative or their individual Authorized Distributor for the related dealing and cut-off time arrangements.

Applications for subscription or redemption for Class H Units received by the Hong Kong Representative or Authorized Distributor in Hong Kong on any Joint Business Day (i) shall be processed on such day if received before the daily dealing cut-off time, or (ii) if received after the dealing cut-off time, be processed on the next Joint Business Day, (the “Trade Date”) except where there is a suspension of the subscription and redemptions of Units.

The Hong Kong Representative, or the Authorized Distributor directly or through the Hong Kong Representative, will forward dealing orders according to such operational process as agreed with the Manager or the Hong Kong Representative, to, as the case may be, the Manager or such appointed transfer agent (in such capacity, as the “Transfer Agent”) for review or payment of redemption proceeds (as applicable). The Transfer Agent will review such orders and, if in order, process them for confirmation and allotment or redemption of Units. The Transfer Agent will only process subscription orders upon full payment and clearance of subscription monies from the investors. Cross-border payment of funds for settlement of subscription and redemption orders shall be arranged by the Hong Kong Representative or by an Authorized Distributor to such account designated by the Manager or its agent.

More detailed instructions for submitting subscription and redemption orders are found below.

Subscriptions

Application to Subscribe Units To make an initial investment, investors should carefully read the contents of the Prospectus, the Product KFS and this document, complete the relevant application form for subscription received from an Authorized Distributor or the Hong Kong Representative and return it to an Authorized Distributor or the Hong Kong Representative together with such accompanying or additional information or documents as may be required by such Authorized Distributor or the Hong Kong Representative.

Payment for Subscription of Units Payment shall be made in cleared funds in RMB and can be made by cheque, bank wire or telegraphic transfer or in such other manner acceptable to or required by the Hong Kong Representative or an Authorized Distributor.

If payment is made in any other currency, the Hong Kong Representative or the Authorized Distributor may in its discretion arrange for the necessary foreign exchange transactions (at the prevailing market exchange rates i.e. the market exchange rate applied by the bank at the relevant time of currency conversion) before the subscription request is forwarded to the Transfer Agent. All charges and expenses in relation to the foreign exchange transactions shall be borne by the relevant investors. Investors should check with the Hong Kong Representative or the Authorized Distributor for further details.

If an investor makes payment by telegraphic transfer, a copy of the remittance instruction should be enclosed with the investor's application. For ease of identification, the wire should include as much information as possible. Payment information for an initial subscription of Units should reference the confirmation number, investor's name, the name of the Fund for which the investor is subscribing. In addition, payment information in respect of subsequent

China Southern Selected Value Mixed Securities Investment Fund subscriptions of Units should reference the Fund’s account number issued to the investor upon the investor's initial subscription of Units.

No responsibility will be accepted by the Manager, the Hong Kong Representative, the Transfer Agent or an Authorized Distributor acting in good faith and in the absence of fraud or negligence for reconciling investor's remittances, where any problem occurs in the transmission, or as a result of inadequate details of the transfer. Payment of subscription amounts should be made in full, net of any wire transfer fees or other bank charges.

No money should be paid to any intermediary in Hong Kong who is not licensed or registered to carry on Type 1 regulated activity under Part V of the SFO.

Confirmation of Subscription of Units Investors whose applications for subscription of Units are accepted will be allotted Units on the Mainland Working Day following the Trade Date at a price based on the Net Asset Value per Unit determined as of the relevant Trade Date.

Investors will receive such number of Units for the net subscription amount after deduction of relevant subscription fee (as set out in the Prospectus and supplemented in the section entitled "Fees and Expenses" below).

Net subscription amount = subscription amount / (1+ applicable subscription fee rate)

Number of Units = Net subscription amount / Net Asset Value per Unit on Trade Date

A confirmation note will be sent to investors following the subscription of Units generally within 5 Joint Business Days following the Trade Date, providing full details of the transaction. Investors transacting orders through the Hong Kong Representative or an Authorized Distributor should inquire with the Hong Kong Representative or the Authorized Distributor regarding their timing for providing confirmation of subscription.

Circumstances for Possible Rejection or Suspension of Subscription The Manager may suspend or reject subscription of units in certain circumstances as permitted and described in the Prospectus. In addition, the Manager has the discretion to reject certain subscription(s) where it considers that such subscription may adversely affect the Fund and its existing Unitholders.

The MRF arrangement is subject to an overall quota restriction. Subscription of Units in the Fund may be suspended at any time if such quota is used up.

One of the continuing eligibility requirements for the Fund to be authorized by the SFC is that the value of units of the Fund sold to Hong Kong investors shall not be more than 50% of the value of the Fund’s total assets (“50% Limit”). The Manager should be responsible for ensuring that the Fund complies with the 50% Limit by managing subscription orders in the primary market. When the value of units of the Fund sold to Hong Kong investors is approaching such limit, the Manager should notify the SFC in writing immediately, and suspend subscription or apply a fair arrangement to apportion the subscription orders until the 50% Limit is reached. There is a risk that Hong Kong investors may not be able to subscribe for the number of units they apply for (or may not be able to subscribe for any units at all). However, compulsory redemption of Units held by Hong Kong investors will not be required. Hong Kong investors can continue to hold their existing units in the Fund.

China Southern Selected Value Mixed Securities Investment Fund

Investors should note that an application for subscription may potentially be rejected or only partially accepted in such circumstances described above.

Redemptions

Redemption applications may be made by completing relevant redemption form (as obtained from an Authorized Distributor or the Hong Kong Representative) and returning it to the Authorized Distributor or the Hong Kong Representative.

Provided there are sufficient available Units held to the account of the Unitholder seeking redemption, applications for redemption that are accepted shall be confirmed on the Mainland Working Day following the Trade Date and effected at a price based on the Net Asset Value per Unit determined as of the relevant Trade Date. Please refer to the “Order Processing and Dealing Cut-off” section for the cut-off time arrangement for application for redemption.

Investors will receive such net redemption amount after deduction of relevant redemption fee (as set out in the Prospectus and supplemented in the section entitled "Fees and Expenses" below).

Redemption Amount = Net Asset Value per Unit on the date of Redemption × Number of Units Redeemed

Redemption Fee = Redemption Amount  Rate of applicable redemption fee

Net Redemption Amount = Redemption Amount – Redemption Fee

A confirmation note following the redemption of Units shall be issued generally within 5 Joint Business Days following the Trade Date, providing full details of the transaction. Investors transacting orders through the Hong Kong Representative or an Authorized Distributor should inquire with the Hong Kong Representative or the Authorized Distributor regarding their timing for providing confirmation of redemption. Payment of redemption proceeds for Hong Kong investors shall generally be made by the Manager within 7 Mainland Working Days following the Trade Date, net of applicable redemption fee (See below section entitled “Fees and Expenses”) provided that a properly documented redemption request is given to the Hong Kong Representative or Authorized Distributor, subject to circumstances of massive redemptions as described below. Redemption proceeds shall be paid in RMB, and any wire transfer fees or bank charges shall be borne by the redeeming Unitholder. Hong Kong investors should note that the timing for receiving cross-border payment of redemption proceeds from the Manager may be subject to exchange controls, applicable regulatory, tax or other requirements which may cause delay. For dealings in units through the Hong Kong Representative or Authorized Distributor, investors are advised to obtain information on settlement from the Hong Kong Representative or Authorized Distributor concerned. Redemption proceeds shall be paid to the redeeming Unitholder only.

Suspension of redemption or deferral of redemption payment

Investors should carefully read the contents of the Prospectus on the redemption process of the Fund including the circumstances under which redemption of units (including Units) may be suspended or payment of redemption proceeds may be deferred. Redemptions of units may be suspended when the Fund is unable to operate due to a situation of force majeure, or when Net Asset Value of the Fund cannot be calculated due to an exceptional cessation of trading of the relevant Mainland stock exchanges. In situations of massive redemptions or continuing massive redemptions resulting in cash flow difficulties, redemption of units

China Southern Selected Value Mixed Securities Investment Fund

(including Units) may be suspended or deferred, or there may be delay of payment of redemption proceeds for accepted redemptions.

When submitting applications for redemption of Class H Units, the redeeming Unitholder may elect whether (1) to defer or (2) to cancel their redemption application on such part not redeemed in an event the redemption request will not be met or fully met on the relevant Trade Date. Hong Kong investors should confirm with the Hong Kong Representative or Authorized Distributor as to the applicable arrangement.

Where redemptions are met but payment of redemption proceeds is delayed due to continuing massive redemptions, payment of redemption proceeds shall be made as soon as practicable and in any event shall be deferred no more than 20 Mainland Working Days as described in the Prospectus, but Hong Kong investors should note that cross-border payment of redemption proceeds may be subject to further delay due to exchange controls, applicable regulatory, tax or other requirements.

Distributions

The Manager will, if relevant conditions for distribution as set out in the Prospectus have been satisfied, make distributions for the Fund. Investors should note that there is no guarantee of regular distribution and (if distribution is made) the amount being distributed. Although the Prospectus refers to the distributions being payable in cash or may be reinvested into units at the election of unitholders, the facility for reinvestment of distributions is currently not available for Class H unitholders. Until such facility becomes available, distributions of Class H Units will be paid in cash.

Investors should note that the Manager may at its discretion determine to pay dividends out of capital or pay dividends out of gross income while charging all or part of the Fund’s fees and expenses to the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore the Fund may effectively pay dividend out of capital. The compositions of the distributions (i.e. the relative amounts paid from net distributable income and capital) for the last 12 months are available from the Manager or the Hong Kong Representative upon request and also on the website where information relating to the Fund is provided to Hong Kong investors (see below under “Publication of Information”). The Fund may amend the dividend policy, subject to regulatory approval and prior notice to investors.

Where payment of dividends are made out of capital or effectively out of capital, this may amount to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, and such payment of dividends may result in an immediate decrease of the net asset value per unit of the Fund.

Fees and Expenses

The Fund is subject to the payment of fees and expenses as set forth in the Prospectus which also applies to Class H. Please refer to the Prospectus for a description of fees and expenses borne by the Fund.

In addition, and separate from fees and expenses borne by the Fund, applicable subscription fee and redemption fee will be borne by investors respectively on the subscription and redemption of Units.

China Southern Selected Value Mixed Securities Investment Fund

Subscription and redemption fees shall be charged and calculated as permitted under the constitutive document of the Fund (i.e. its Fund Contract) and as described in the Prospectus, provided however that notwithstanding other alternative or tiered rates as described in the Prospectus:

• Subscription fees for Class H Units shall be charged as a front-end load (upfront fee) at the time of subscription (not as back-end deferred subscription fee chargeable on redemption). Subscription fees shall be charged for the account of the Manager or the Hong Kong Representative or Authorized Distributors as the Manager may determine and agree with the Hong Kong Representative or Authorized Distributors. • Subscription fee for Hong Kong investors may be up to 5.0% payable on the subscription amount, with the actual rate of subscription fee as determined by the Hong Kong Representative or Authorized Distributors. • A flat rate of 0.13% shall apply on redemption of Class H Units. The redemption fee shall be retained by the Fund.

Please contact the Hong Kong Representative or an Authorized Distributor for more information and details of the applicable fees.

Switching

Switching of Units in the Fund into units of any fund(s) managed by the Manager not authorized by the SFC for public offer to Hong Kong investors is not permitted. Switching from the Fund to another fund of the Manager authorized by the SFC for public offer to Hong Kong investors is not currently available. The details of the relevant arrangement for switching of Units shall be provided to Hong Kong investors when such facility is available.

Publication of Information

The net asset value of Class H Fund assets shall be calculated on each Mainland Working Day and such other days as required by Mainland laws and regulations (including 30 June and 31 December even if these dates are not Mainland Working Days).

Prices for Class H Units (i.e. the NAV per unit of Class H) are published on a daily basis for Hong Kong investors on the website of the Hong Kong Representative: (www.csopasset.com). The website has not been reviewed by the SFC.

The net asset value (NAV) per Class H Unit shall be calculated by the Manager and reviewed by the Custodian using the following formula:

NAV per Class H Unit = NAV of the Class H Fund assets on valuation day / total number of Class H Units

If the calculation of the net asset value of Units or subscription or redemption of Units of the Fund is suspended, notice of such suspension will be published as soon as possible, in any event within 2 days following such decision to suspend is taken, and at least once a month during the period of suspension, on the Hong Kong Representative’s website. For any suspension or deferral of dealings of the Fund requiring notification to the CSRC, the SFC shall also be notified correspondingly.

When there is/ are material change(s) to the Fund information, the Fund’s Prospectus will be updated within 3 Mainland Working Days. Other changes of the Prospectus will be updated

China Southern Selected Value Mixed Securities Investment Fund by the Manager at least once every year. The current version of the Fund’s Prospectus, this document, the Product KFS, all circulars, notices, announcements (including on any suspension of dealing or calculation of Net Asset Value and the end of any period of suspension) issued in respect of the Fund, the Reports (as defined below) and the latest available subscription and redemption prices or net asset value of the Fund will be published on the website of the Hong Kong Representative (www.csopasset.com). The said website shall be in English and Traditional Chinese.

Hong Kong investors may make enquiries or requests to view or obtain information or documents relating to the Fund by contacting the Hong Kong Representative (See below – “Enquiries and Complaints” and “Availability of Documents”).

Changes to the Fund shall be made subject to the requirements of the Fund Contract and where applicable, subject to the approval of the CSRC and the requirements of the CSRC and Mainland laws and regulations as relevant. Such changes shall be effective upon approval by the CSRC, where required, or by compliance with appropriate procedures under Mainland laws and regulations, and shall thereafter be filed with the SFC.

Changes that concern the eligibility of the Fund under the MRF such as changes in investment objective, investment strategy or key operators will require SFC’s prior approval. Further, changes affecting Hong Kong investors only (e.g. change of Hong Kong Representative) may be subject to SFC’s prior approval pursuant to applicable requirements under the UT Code.

The Manager and the Hong Kong Representative shall take reasonable steps and measures to ensure that the offering documents and ongoing disclosure of information (including periodic financial reports, notices and announcements) shall be made available to Hong Kong investors and Mainland investors at the same time, except for any notice to Mainland investors which is issued only in respect of classes of units (if any) of the Fund not available in Hong Kong and not relevant to Hong Kong investors, or relate solely to issues that have no impact on Hong Kong investors. Changes concerning the Fund shall be notified to Hong Kong investors in English and Traditional Chinese in accordance with relevant requirements (including posting relevant notices on the website issued by the Hong Kong Representative for Hong Kong investors in English and Traditional Chinese).

Reports and Accounts

Printed copies of the audited annual reports and accounts and the unaudited interim reports and quarterly reports of the Fund (collectively the “Reports”) will not be mailed to Hong Kong investors. However, printed copies of the Reports will be made available at the registered office of the Hong Kong Representative on request free of charge, and soft copies of the Reports will be available on the Hong Kong Representative’s website at www.csopasset.com (which has not been reviewed by the SFC). Hong Kong investors will be notified when these Reports are available, which shall be within 3 months of the end of the relevant period for the audited annual reports, within 2 months of the end of the relevant period for interim reports, and within 15 Mainland Working Days of the end of the relevant period for quarterly reports.

The Reports will be issued in Simplified Chinese only, and will be the Mainland financial reports of the Fund prepared in accordance with Mainland requirements. However, the Reports shall be made available to Hong Kong investors together with such additional information as required by the SFC from time to time to be furnished to Hong Kong investors.

Upon request by investors, specific information regarding the Reports will be made available to Hong Kong investors in English and/or Traditional Chinese free of charge. Investors may

China Southern Selected Value Mixed Securities Investment Fund send such requests to the Hong Kong Representative at the address provided below, under “Enquiries and Complaints”.

Bilingual Documents

While the Prospectus of the Fund available to Mainland investors is in Simplified Chinese, the Hong Kong offering documents comprise the Prospectus of the Fund, this document and the Product KFS, all of which are made available to Hong Kong investors in English language and in Traditional Chinese language, taking into account market practice and customary use of Chinese language in Hong Kong. Notices of the Fund and such additional information issued to Hong Kong investors shall also be in English and Traditional Chinese.

However, the constitutive document of the Fund (i.e. the Fund Contract) and the Reports (as noted above) shall be available to Hong Kong investors only in Simplified Chinese (except specific information on the Fund Contract or on the Reports shall be made available in English and Traditional Chinese upon the request of investors). Investors may send such requests to the Hong Kong Representative at the address provided below (see below section entitled “Enquiries and Complaints”). Investors who are not conversant in Simplified Chinese should therefore consider the language barriers that limit full understanding of the governing contractual provisions of the Fund and whether this may negatively impact the interest of such investors.

Voting at Meeting of Unitholders

Unitholders shall have one voting right for each voting unit of Units that they hold. Votes may be given in person, by proxy or in another way as permitted and described under the Prospectus and as further detailed in notices of meetings of Unitholders.

Nominee Arrangement

As is common market practice for other publicly offered funds in Hong Kong, investors may hold Units of the Fund through the Hong Kong Representative or an Authorized Distributor (as the case may be) as nominee (“Nominee”) on behalf of Unitholders. Under such arrangement, the Nominee but not the underlying investors, will be the named Unitholder on the system and records of the Fund’s Transfer Agent. The Hong Kong Representative or the Authorized Distributor shall maintain records on the holdings of Units of their underlying investors, and shall exercise voting rights of Unitholders according to the instructions of underlying Unitholders. Details of such arrangement shall be further set out in notices of Unitholders’ meetings.

Hong Kong investors should note that under the Nominee arrangement, only the name of the Nominee and not of the underlying investor will be registered as Unitholder, and therefore the exercise of rights as Unitholder (including but not limited to the right to take any legal action against the Manager and the Custodian) shall be made only by the Nominee for and on behalf of the underlying investor or exercisable only through the Nominee, and subject to the maintenance of records by the Nominee on the interest of the underlying Hong Kong investors in Units.

Unitholders will be notified by the Hong Kong Representative or Authorized Distributors as soon as possible upon notification by the Manager regarding meetings of Unitholders including information such as meeting date, time and resolutions, in both English and Traditional Chinese languages. The specific arrangement for the exercise of voting rights by an underlying investor may be subject to further specific terms or procedures as specified by the Hong Kong

China Southern Selected Value Mixed Securities Investment Fund

Representative or Authorized Distributor. Hong Kong investors should check with the Hong Kong Representative or Authorized Distributor for further details.

Accordingly, Hong Kong investors should understand the difference in position from Mainland investors where Mainland investors are directly registered as Unitholders and as such able to directly exercise rights as Unitholders. If in doubt, Hong Kong investors should seek professional advice.

Termination of the Fund The Fund may be terminated under circumstances as set out under the sections headed “7 Effectiveness of the Fund Contract” and “17. Modification and Termination of Fund Contract and Liquidation of Fund Assets” of the Prospectus.

When the Fund Contract is terminated, the Manager will organize a liquidation group to liquidate assets of the Fund in accordance with the applicable laws. Fund assets will be liquidated and distributed to unitholders, or the relevant distributors after settlement of the liabilities, the distributors shall distribute the Fund assets to unitholders according to the liquidation results concluded by the Manager, please refer to the section “17. Modification and Termination of Fund Contract and Liquidation of Fund Assets” of the Prospectus for details. Any unclaimed proceeds will be held in an account under the name of the relevant distributors. There is currently no specific requirement on the period such unclaimed proceeds must be maintained, although the minimum period the Fund Custodian is required to retain accounting documents in relation to liquidation of Fund Assets is 15 years.

Fair treatment of Mainland and Hong Kong investors

The Manager shall ensure that Mainland investors and Hong Kong investors will receive fair and the same treatment, including in respect of investor protection, exercise of rights, compensation and disclosure of information.

Additional disclosures on investments of the Fund

In respect of the Fund’s equities investments, the Fund may invest substantially in stocks listed and traded on the Small and Medium Enterprise (SME) Board, ChiNext market, and/or the Science and Technology Innovation Board. The Fund may also invest substantially in depositary receipts issued and traded on China’s domestic securities markets in accordance with Mainland law and regulations (“CDRs”). Under the Fund Contract, the Fund’s investments in bond assets may be between 0% - 35% of the Fund’s net asset value. The Fund may invest in bond assets which may include treasury bonds, financial bounds and corporate bonds (including convertible bonds). The Fund may invest in asset-backed securities up to 20% of the Fund’s net asset value.

Investors should also refer to the Prospectus and the Product KFS for the investment objectives, investment strategy and other details on the Fund’s investment.

Financial Derivative Investments

The Fund currently does not use financial derivative instruments including warrants. If the Fund intends to engage in such transactions in the future, applicable regulatory approval from relevant regulatory authorities will be sought and prior notice to investors will be given before the Fund engages in such transactions.

China Southern Selected Value Mixed Securities Investment Fund

Stock Lending

The Fund does not engage in stock lending transactions and if the Fund intends to engage in such transactions in the future, applicable regulatory approval from relevant regulatory authorities will be sought and prior notice to investors will be given before the Fund engages in such transactions.

Repurchase and Reverse Repurchase Transactions

The Fund currently does not intend to engage in repurchase and reverse repurchase transactions. If the Fund intends to engage in such transactions in the future, applicable regulatory approval from relevant regulatory authorities will be sought and prior notice to investors will be given before the Fund engages in such transactions.

The Manager has determined that the Fund’s maximum level of leverage shall not exceed 40% of the Fund’s Net Asset Value.

Risk Factors

Investors should refer to the section headed “Risk Disclosure” of the Prospectus as are relevant to investment in the Fund and the following additional information in respect of the risks associated with investing in the Fund.

Investment Risk

The Fund is an investment fund. There is no guarantee of the repayment of principal or payment of dividend or distributions. Further, there is no guarantee that the Fund will be able to achieve its investment objectives and there is no assurance that the stated strategies can be successfully implemented.

Risks associated with the MRF arrangement

 Quota restrictions: The MRF arrangement is subject to an overall quota restriction. Subscription of Units in the Fund may be suspended at any time if such quota is used up.  Failure to meet eligibility requirements: If the Fund ceases to meet any of the eligibility requirements under the MRF, it may not be allowed to accept new subscriptions. In the worst scenario, the SFC may even withdraw its authorization for the Fund to be publicly offered in Hong Kong for breach of eligibility requirements. There is no assurance that the Fund can satisfy these requirements on a continuous basis.  Mainland China tax risk: Currently, certain tax concessions and exemptions are available to the Fund and/or its investors under the MRF regime. There is no assurance that such concessions and exemptions or Mainland tax laws and regulations will not change. Any change to the existing concessions and exemptions as well as the relevant laws and regulations may adversely affect the Fund and/or its investors and they may suffer substantial losses as a result.  Different market practices: Market practices in the Mainland and Hong Kong may be different. In addition, operational arrangements of the Fund and other public funds offered in Hong Kong may be different in certain ways. For example, subscriptions or redemptions of Class H Units offered in Hong Kong may only be processed on a Joint Business Day when both Mainland and Hong Kong markets are open or it may have different cut-off times or dealing day arrangements versus other SFC-authorized funds. Investors should ensure that they understand these differences and their implications.

China Southern Selected Value Mixed Securities Investment Fund

Specific Risks relating to the Fund’s Investment

Other than general investment risk, investors should note the following risks relating to the Fund’s investment.

Mainland market risk/ Concentration risk  As the Fund invests primarily in securities related to the Mainland market, it is subject to additional concentration risk. Investing in the Mainland market may give rise to different risks including political, policy, tax, economic, foreign exchange, legal, regulatory and liquidity risks.

Mainland equity risks  Market risk: The Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.  Volatility risk: High market volatility and potential settlement difficulties in the Mainland equity markets may also result in significant fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Fund.  Policy risk: Securities exchanges in Mainland typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Fund.  Risk associated with small-capitalisation / mid-capitalisation companies: The Fund may invest in companies of smaller or mid-captialisation. The stock of small-capitalisation/ mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general.  Liquidity risk: Securities market in Mainland China may be less liquid than other developed markets. The Fund may suffer substantial losses if it is not able to dispose of investments at a time it desires.  High valuation risk: Stocks listed on the Mainland stock exchanges may have a higher price-earning ratio. Such high valuation may not be sustainable.

Risks associated with the Small and Medium Enterprise (SME) board, ChiNext market and/or the Science and Technology Innovation Board (STAR Board)  Higher fluctuation on stock prices and liquidity risk: Listed companies on the SME board, ChiNext market and/or STAR Board are usually of emerging nature with smaller operating scale. In particular, listed companies on ChiNext market and STAR Board are subject to wider price fluctuation limits, and due to higher entry thresholds for investors may have limited liquidity, compared to other boards. Hence, companies listed on these boards are subject to higher fluctuation in stock prices and liquidity risks and have higher risks and turnover ratios than companies listed on the main board.  Over-valuation risk: Stocks listed on SME board, ChiNext and/or STAR Board may be overvalued and such exceptionally high valuation may not be sustainable. Stock price may be more susceptible to manipulation due to fewer circulating shares.  Differences in regulation: The rules and regulations regarding companies listed on the ChiNext market and STAR Board are less stringent in terms of profitability and share capital than those in the main board and SME board.  Delisting risk: It may be more common and faster for companies listed on the SME board, ChiNext market and/or STAR Board to delist. In particular, STAR Board has stricter criteria for delisting compared to other boards. This may have an adverse impact on the Fund if the companies that it invests in are delisted.

China Southern Selected Value Mixed Securities Investment Fund

 Concentration risk: STAR Board is a newly established board and may have a limited number of listed companies during the initial stage. Investments in STAR Board may be concentrated in a small number of stocks and subject the Fund to higher concentration risk.

Investments in the SME board, the ChiNext market and/or STAR Board may result in significant losses for the Fund and its investors.

Further information and risks associated with STAR Board: • Market risk: Single STAR Board stocks are concentrated in high-tech and strategic emerging industries such as new-generation information technology, high end equipment, new materials, new energy, energy conservation and environmental protection and biomedicine. Most enterprises are start-up companies where future profits, cash flow and valuation will be uncertain. Combined with differences from traditional secondary market investments, this results in greater difficulties in overall investment and increased single stock market risks. There is no daily limits for STAR Board single stock for the first 5 days after listing, from the 6th day the daily price fluctuation limit is set to 20%. The fluctuations of single stocks on STAR Board are greater than stocks on other boards, thus increasing the market risk. • Liquidity risk: STAR Board has a higher overall investment threshold, individual investors must have two years of securities trading experiences and minimum capital of RMB 500,000 to participate. In the secondary market there is relatively low level of individual investor participation, institutional investors may hold large number of shares thus leading to poor liquidity, and there is a risk that the fund portfolio will not be able to be liquidated in time and face other related liquidity risks. • Credit risk: STAR Board’s pilot registration-based IPO system implements a strict delisting system for enterprises with poor operating conditions or fraudulent financial data. There is delisting risk for single stocks. • Risk of investment concentration: The STAR Board is a newly established board, with fewer investable objectives during the initial stage. Investors tend to focus on investing in a small number of single stocks. The market may be in a highly concentrated state with the existence of concentration risks as a whole. • Systemic risk: STAR Board enterprises are all technology innovation enterprises with high market recognition, and tend to have similar corporate operation and profit models. Therefore, single STAR Board stocks are highly correlated. When the market underperforms, systemic risks will be more significant which may adversely affect the Fund. • Policy risk: Changes in the state’s support for and emphasis on high-tech industries will have a great impact on STAR Board enterprises. Changes in the international economic situation will also have policy implications for strategic emerging industries and single STAR Board stocks. All these may have a negative impact on the Fund.

Risks associated with CDRs • Risks associated with the issuer of the underlying overseas securities: As the issuers of the underlying overseas securities corresponding to CDRs (“overseas issuers”) are governed by overseas laws and regulations of its place of incorporating or listing, there may be potential risks caused by differences in the legal status and rights exercisable by holders of CDRs and shareholders of the overseas issuers; There may be risks associated with special arrangements made for CDRs holders in terms of dividend distributions, which may cause CDR holders to receive their stock dividends at a time different than the holders of the underlying overseas securities; There may be risks associated with special arrangements relating to the exercising of voting rights; There 15

China Southern Selected Value Mixed Securities Investment Fund

may be risk of dilution of CDR holders’ interests in certain circumstances, such as the overseas issuers offering rights issue to the holders of the underlying securities but the CDR holders may not be able to participate in such rights issues; There may be risks relating to differences in supervision of ongoing information disclosure requirements applicable in the different listing markets, and other risks that may be caused by differences in domestic and overseas legal systems and regulatory environments. • Risks associated with depository receipts: Upon purchasing CDRs, investors holding CDRs will automatically be deemed as having executed and become a party to the depositary agreement, there may be risks associated with the terms of the depositary agreement which is binding to them; There may be risks associated with the delisting of the CDRs such as inability of the depository to sell the underlying securities according to the depository agreement. • Risks associated with the CDR trading mechanism: As the CDRs and the underlying securities are listed in multiple markets, they may have different trading hours due to difference of time zone and trading rules. There may be risks that the trading price of CDRs may be swayed by the opening price and closing price of the underlying securities and other events in the overseas market. Compared to investment in companies that are listed only in China’s domestic securities market, investments in CDRs may be subject to higher price volatility resulting in greater financial losses.

Inflation risk Inflation risk is the risk that assets will lose value because of a decrease in the value of money. Inflation can reduce the purchasing power of income made on an investment in a fund as well as the intrinsic value of the investment. Investments in the Fund would be exposed in particular to Mainland inflation risks.

Mainland debt securities risks  Volatility and liquidity risks: The Mainland debt securities markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations.  Counterparty risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in.  Interest rate risk: Investment in the Fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. The Fund is exposed to additional policy risk of potential adjustment by the government to the interbank deposit rate.  Downgrading risk: The credit rating of a debt instrument or its issuer may be downgraded subsequent to investment by the Fund. In the event of such downgrading, the value of the Fund may be adversely affected. The Manager may or may not be able to dispose of the debt instruments that are being downgraded.  Credit rating agency risk: The credit appraisal system in the Mainland and the rating methodologies employed in the Mainland may be different from those employed in other markets. Credit ratings given by Mainland rating agency may therefore not be directly comparable with those given by other international rating agencies.  Risk associated with urban investment bonds: The Fund may invest in urban investment bonds. Urban investment bonds are issued by local government financing vehicles (“LGFVs”), such bonds are typically not guaranteed by local governments or the central government of the Mainland. In the event that the Fund invests in any LGFV and the LGFV defaults on payment of principal or interest of the urban investment bonds, the Fund could suffer substantial loss and the net asset value of the Fund could be adversely affected.  Risk associated with asset-backed securities: The Fund may invest in asset-backed

China Southern Selected Value Mixed Securities Investment Fund

securities (including asset-backed commercial papers) which may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of the securities.  Risk associated with debt securities which are rated BB+ or below by a Mainland credit rating agency or unrated: The Fund may invest in debt securities rated BB+ or below by a Mainland credit rating agency or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.

RMB currency and conversion risks

Investors may have to convert Hong Kong dollar or other currencies into RMB when investing in Units of the Fund denominated in RMB, and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to Hong Kong dollar or such other currencies. Investors will incur currency conversion costs and investors may suffer losses depending on the exchange rate movements of RMB relative to Hong Kong dollar or such other currencies.

RMB is currently not freely convertible and is subject to exchange controls and restrictions. Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currency (for example Hong Kong dollar) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the Fund. Investors may not receive RMB upon redemption of investments and/or payment of dividends, or such payment may be delayed due to exchange controls and restrictions applicable to RMB.

Risks relating to payment of dividends out of capital

Payment of dividends out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, and such distributions may result in an immediate decrease of the net asset value per unit of the Fund.

Taxation risks

Investors should note specific uncertainty in tax position and tax risks relating to potential tax liabilities on income and gains that arise from investing in, holding or disposing of Units in the Fund. Changes in tax regulations and/or tax provisioning policy of the Fund will impact investors. Investors who have sold/ redeemed their interests prior to such change may not be impacted. Investors may be advantaged or disadvantaged depending upon whether and how the disposed gains and distributions from the Fund will ultimately be taxed and when the investor invests in the Fund. There are certain risks relating to Mainland tax regime and FATCA, as further described in the section below on “Taxation”.

Risk on cross-border money transfer and order routing

The MRF is a new initiative. The cross-border routing or data transfer relating to dealings in Units of the Fund, related cross-border money transfer, transfer agency functions, settlement, clearance and reconciliations may be conducted by or through platforms or arrangements which are newly established and operating for MRF. The Manager has conducted due diligence to satisfy itself that the platform and arrangement is functioning properly. Should

China Southern Selected Value Mixed Securities Investment Fund there be any error or delay in the processing of data, registration of Units, transfer or settlement of funds, investors may directly or indirectly suffer losses.

Risk associated to different holidays in the Mainland and Hong Kong

As applications for subscription and redemption of Units of the Fund will be processed only on a Joint Business Days, Hong Kong investors would be unable to deal in Units on any day which is not a Hong Kong Business Day or any day which is not a Mainland Working Day (each term as defined above and/or in the Prospectus). Hong Kong investors should note the resulting impact on the ability to subscribe for Units or redeem Units of the Fund, the timing and the price at which a subscription or redemption of Units may be processed.

Massive redemptions risk

Massive redemptions of units could require the Manager to liquidate investments of the Fund more rapidly than otherwise desirable in order to raise the necessary cash to fund the redemptions. This could adversely affect the net asset value per unit of both units being redeemed and of remaining units. In the worst case, the Fund may have to suspend or delay the redemption process. Please refer to the arrangement around massive redemptions as described in the Prospectus and in the section above “Suspension of redemption or deferral of redemption payment”.

Other risks

This document does not describe all the risks relating to the Fund. Investors should read the chapter on risk disclosures of the Prospectus for other risks relating to the Fund.

Taxation

Prospective investors should consult their own professional advisers as to the implications of buying, holding or disposing of Units in the Fund and as to the applicable tax requirements under the laws of the relevant jurisdiction(s) where they are subject to tax.

Mainland China Tax Considerations

(a) Taxation for investors

On 18 December 2015, The Ministry of Finance, the State of Administration of Taxation and the CSRC jointly released the Caishui [2015] No.125 (the “Notice”) which specifies the Mainland taxation for investments in Mainland securities investment funds under MRF (“Recognised Mainland Funds”) by Hong Kong investors or investors in Hong Kong (“Hong Kong Investors”), and as set out below:

Corporate Income Tax (“CIT”) and Individual Income Tax (“IIT”) Income derived from disposal gains of Recognised Mainland Funds by Hong Kong Investors is temporarily exempt from CIT and IIT respectively. Income derived from distributions from Recognised Mainland Funds by Hong Kong Investors would not be subject to CIT and IIT respectively.

Business Tax (“BT”) BT is temporarily exempted on the disposal gains derived by Hong Kong Investors from trading of units of Recognised Mainland Funds.

China Southern Selected Value Mixed Securities Investment Fund

Stamp Duty Mainland Stamp Duty is temporarily not payable by Hong Kong Investors for the subscription, redemption, purchase, sales, transfer or inheritance of units/shares of Recognised Mainland Funds.

(b) Taxation for Mainland securities investment fund

Pursuant to Caishui [2008] No. 1, gains realized from the trading of Mainland shares and bonds, dividend from Mainland shares, interest from Mainland bonds and other income by Mainland securities investment fund shall be temporarily exempted from CIT.

Pursuant to Caishui [2002] No. 128, listed companies and issuers of bonds should withhold 20% IIT from payment of dividends or interest to a Mainland securities investment fund. However, income tax will be withheld at the rates of 10% and 7% respectively for dividends and interests declared by the Mainland issuers to Recognised Mainland Funds on the portion of dividends and interests attributable to Hong Kong Investors pursuant to the Notice.

In addition, sale of A-Shares and B-Shares ("Mainland Shares") is subject to Mainland stamp duty at a rate of 0.1% of the total proceed. However, the purchase of Mainland Shares is not subject to PRC Stamp Duty.

In addition, VAT is exempted on the capital gains realized by the manager of security investment fund (for both close-ended and open-ended security investment funds) from trading of shares and bonds according to Caishui [2016] No.36. Moreover, coupon interests from government bonds and municipal local government bonds received by Mainland China security investment fund are exempt from VAT.

Various tax reform policies have been implemented by the Mainland government in recent years, and existing tax laws and regulations may be revised or amended in the future. There is no assurance that current tax exemptions or incentives will not be abolished in the future. Investors should seek their own tax advice on their Mainland China tax position with regard to their investment in the Recognised Mainland Fund.

Hong Kong Taxation

For so long as the Fund maintains its authorization with the SFC under the SFO, the Fund is not liable to pay tax on profits arising in or derived from Hong Kong.

Investors resident in Hong Kong will not be subject to Hong Kong tax on distributions from the Fund or on gains realized on the redemption of Units in the Fund unless the acquisition and realization of Units in the Fund is or forms part of a trade, profession or business carried on in Hong Kong and the gains (not being capital in nature) arise in or are derived from Hong Kong. Hong Kong stamp duty will not be payable on the issue or redemption or on transfer of Units.

The above information relating to taxation is based on the current enacted laws and existing practice of Hong Kong. It is not comprehensive and is subject to change. This information is general in nature and is not provided taking into account specific circumstances of any particular investors.

FATCA and Identity of Beneficial Ownership and Withholding on Certain Payments

China Southern Selected Value Mixed Securities Investment Fund

The Foreign Account Tax Compliance Act ("FATCA") is a tax law enacted in the United States (the “U.S.”) in March 2010 and which requires certain U.S. sourced payments (including distributions and interests, and potentially gross proceeds, paid by US corporations and institutions made with respect to certain actual and deemed U.S. investments) to be subject to 30% U.S. withholding tax, effective July 2014. In order to avoid such withholding tax, "foreign financial institution" within the meaning of Section 1471(d)(4) of the U.S. Internal Revenue Code of 1986, as amended (“FFI”) will generally be required to timely register with the United States Internal Revenue Service (the "Service") and agree to identify and report information with respect to certain direct and indirect U.S. account holders (including debt- holders and equity-holders). Failure to comply with such requirements may result in 30% withholding tax being applied.

If the Fund becomes subject to such withholding tax, it will reduce the net asset value of the Fund by the amount of the withholding imposed and may result in a material loss to investors and inhibit the Fund’s ability to pursue its investment strategy.

The People's Republic of China (“PRC”) has, in June 2014, reached an “agreement in substance” to enter into a Model 1 (reciprocal) inter-governmental agreement with the United States (the "PRC IGA") to give effect to the foregoing withholding and reporting rules. While the PRC IGA has not been signed, it is expected that the PRC IGA will be entered into, although it will still need to be brought into force in PRC and enabling legislation in PRC will need to be enacted to give effect to the terms of the PRC IGA under PRC law. Under the PRC IGA and so long as the Manager and the Fund complies with the PRC IGA and the enabling legislation as applicable, the Manager anticipates that the Fund will not be subject to the related U.S. withholding tax.

The Manager has registered as a Reporting Model 1 FFI under FATCA and obtained its Global Intermediary Identification Number (“GIIN”) as an FFI and as a sponsoring entity. The Manager, as a sponsoring entity, will assist the Fund in fulfilling the FATCA registration, due diligence, reporting and withholding requirements. If and when required under applicable law or regulations including such rules relating to the entry into force of the PRC IGA, the Manager shall take such action and introduce additional requirements as necessary to be FATCA compliant.

Investors in the Fund may be required to provide to the Manager (or in certain cases, a distributor, intermediary or certain other entities through which such investor invests (each, an "Intermediary")) information for identifying any direct and indirect U.S. ownership. Under the PRC IGA, any such information provided to the Manager will likely be required to be reported to PRC competent authority, instead of reporting directly to the Service, and will be under exchange of information between the PRC and US authorities.

An investor who fails to provide the required information to the Manager (or, if applicable, an Intermediary) for identifying any direct and indirect U.S. ownership, or to register and agree to identify such account holders (as applicable), may be subject to the 30% withholding tax with respect to its share of any U.S. sourced payments. While the Manager intends for the Fund to be FATCA compliant, this cannot be assured due to complexities in the relevant regulations and arrangement and to the potential risks of non-compliance by investors in the Fund. The Manager may take any action permitted in relation to an investor's Units or redemption proceeds to ensure that if the Fund suffers withholding, such withholding is economically borne by the relevant investor whose failure to provide the necessary information or comply with such requirements gave rise to the withholding, subject to applicable laws and regulations and provided that the Manager acts in good faith and on reasonable grounds. If the Fund

China Southern Selected Value Mixed Securities Investment Fund becomes subject to withholding, this could have an adverse impact on the Fund and its Net Asset Value, and amounts subject to withholding may not be refundable to the Fund.

Investors should consult their own tax advisors regarding the possible implications of FATCA rules on their investments in the Fund, their particular circumstances and the information to be provided and disclosed to the Manager (or an Intermediary), which may potentially be ultimately provided to the Service. The foregoing FATCA information does not constitute advice to, and is not intended for reliance as such by, any person.

Personal Data (Privacy) Ordinance of Hong Kong

Hong Kong investors should take note of any information or statement relating to personal data collection in Hong Kong provided by the Manager, the Hong Kong Representative or any Authorized Distributor.

Pursuant to the provisions of the Personal Data (Privacy) Ordinance (Chapter 468 of the Laws of Hong Kong) (“PDPO”), the Manager and/or the Hong Kong Representative and/or Authorized Distributor, or their agents or delegates, (each a “Data User”), may collect, hold, use personal data of individual investors in the Fund only for the purposes for which such data was collected, principally in connection with the dealing and/or holding of Units in the Fund or such other purposes as expressly stated and agreed. Investors should note that data may be transferred outside of Hong Kong, including to the Manager or its agents or delegates in the Mainland. Data Users shall comply with relevant personal data protection principles, and/or requirements as set out in the PDPO or other applicable regulations and rules governing personal data use that such Data User is subject to. Accordingly, each Data User shall take all practicable steps to ensure that the personal data collected, held and processed by them are protected against unauthorised or accidental access, processing, erasure or other use.

Enquiries and Complaints

All enquiries and complaints relating to the Fund and requests to view or obtain documents relating to the Fund should be addressed to the Hong Kong Representative, CSOP Asset Management Limited, at the address: Suite 2801-03, Two Exchange Square, 8 Connaught Place, Central, Hong Kong. CSOP Asset Management Limited can also be contacted by telephone at +852 3406 0688.

A written response with respect to a complaint and/or enquiry would be provided as soon as possible and within 15 Hong Kong Business Days from the receipt of letter or relevant call.

Availability of Documents for Inspection

For as long as the Fund maintains its authorization with the SFC, copies of the following documents in relation to the Fund may be inspected free of charge during usual business hours at the offices of Hong Kong Representative (whose address is given above) and copies obtained at a reasonable charge (except for items (a) and (d) where copies can be obtained free of charge):

(a) the current version of the Prospectus of the Fund, this document and the Product KFS of the Fund which are part of the Hong Kong offering documents, which shall be available in English and Traditional Chinese; (b) the constitutive document of the Fund, being the Fund Contract between China Southern Asset Management Co., Ltd. as the Manager and Industrial and Commercial Bank of China Limited as the Custodian registered with the CSRC, as amended from time to time, which

China Southern Selected Value Mixed Securities Investment Fund

shall be available in Simplified Chinese (except for specific information made available in English and Traditional Chinese upon request of investors); (c) the custodian agreement of the Fund between the Manager and the Custodian, which shall be available in Simplified Chinese; (d) the latest published Reports of the Fund which shall be available in Simplified Chinese (except for specific information made available in English and Traditional Chinese upon request of investors); (e) the Agreement appointing the Hong Kong Representative to act as such, which shall be available in English and Traditional Chinese; (f) the list of Authorized Distributors of the Fund in Hong Kong which shall be available in English and Traditional Chinese; (g) the notice and announcement relating to the Fund which shall be available in English and Traditional Chinese; and (h) such other documents relating to the Fund as listed in the Prospectus as available for inspection by investors, which shall be available in Simplified Chinese.

Solicitors

The Hong Kong solicitors firm to the Manager in respect of the Fund is Vivien Teu & Co LLP at 17/F, 29 Wyndham Street, Central, Hong Kong.

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fund Manager: China Southern Asset Management Co., Ltd. Fund Custodian: Industrial and Commercial Bank of China Limited

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contents § 1 PREFACE 2 § 2 DEFINITION 3 § 3 FUND MANAGER 10 § 4 FUND CUSTODIAN 22 § 5 RELATED SERVICE AGENCIES 29 § 6 OFFERING OF THE FUND 132 § 7 EFFECTIVENESS OF THE FUND CONTRACT 133 § 8 SUBSCRIPTION AND REDEMPTION OF UNITS 134 § 9 FUND INVESTMENT 148 § 10 FUND ASSETS 165 § 11 VALUATION OF FUND ASSETS 167 § 12 FUND INCOME AND DISTRIBUTION 173 § 13 FUND EXPENSES AND TAX 175 § 14 FUND ACCOUNTING AND AUDITING 177 § 15 INFORMATION DISCLOSURE OF THE FUND 179 § 16 RISK DISCLOSURE 187 § 17 MODIFICATION AND TERMINATION OF FUND CONTRACT AND LIQUIDATION OF FUND ASSETS 192 § 18 SUMMARY OF FUND CONTRACT 195 § 19 SUMMARY OF FUND CUSTODIAN AGREEMENT 217 § 21 OTHER DISCLOSURES 241 § 22 MAINTENANCE AND INSPECTION OF THE PROSPECTUS 243 § 23 DOCUMENTS AVAILABLE FOR INSPECTION 244

IMPORTANT

The Fund has been approved by the CSRC on 25 April 2008 in its approval document Zheng Jian Xu Ke [2008] No. 596, and was established on 18 June 2008. The Fund Manager warrants that the contents of this Prospectus are true, accurate and complete. This Prospectus has been approved by the CSRC; nevertheless, in giving such approval, the CSRC implies no judgment in substance or guarantee for the value and income of the Fund, nor does it imply that the investment in the Fund is risk-free. Before investing in this Fund, investors are advised to have full understanding of the Fund’s product features, and they should consider their own risk tolerance thoroughly, estimate the market rationally, and make decisions on the investment behaviors such as intention, timing and quantity of fund subscription, while they are entitled to the income of the Fund investment, they also bear the corresponding investment risks, including: systematic risks arising from political, economic, social and other influences on the prices of securities; non-systematic risks of individual securities; liquidity risk arising from continuing massive redemption by Unitholders; and management risk arising from the fund management activities of the Fund Manager; risks pertaining to the Fund. Investment involves risk. The investment scope of the Fund includes holding China depositary receipts, which is subject to the risk of price fluctuations and may even incur the risk of huge financial loss, and also related risks associated with China depositary receipts mechanism. Before investing in this Fund, investors are advised to read through the Prospectus, Fund Contract, Fund product information summary and other information disclosure documents carefully. The Fund's past performance is not indicative of its future performance. The Fund Manager shall manage the fund assets with honesty, good faith, prudence and efficiency, but does not guarantee any profits or minimum returns on the Fund. The current update is mainly about including depositary receipts under the scope of investment, and relevant amendments have been reflected in the prospectus accordingly. The data contained in this Prospectus are as of 18 June 2020 and the related financial data and NAV performance data are as of 31 March 2020.

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

§ 1 Preface

The Fund is established and operates in accordance with the laws and regulations of the People’s Republic of China. If the content of the Fund Contract and/or the Prospectus is inconsistent with the mandatory requirements of the then effective laws and regulations, the then effective laws and regulations shall prevail. This Prospectus is drafted pursuant to the Law of the People’s Republic of China on Securities Investment Funds (hereinafter referred to as the "Funds Law"), the Administrative Measures on Operation of Securities Investment Funds (hereinafter referred to as the "Operation Measures"), the Administrative Measures on Sale of Securities Investment Funds (hereinafter referred to as the "Sale Measures"), the Administrative Measures of Information Disclosure for Publicly Offered Securities Investment Fund(hereinafter referred to as the " Information Disclosure Measures "), the Rules of Liquidity Risk Management for Publicly Offered Open-ended Securities Investment Funds and the Fund Contract of China Southern Selected Value Mixed Securities Investment Fund (hereinafter referred to as the "Fund Contract"). The Fund Manager hereby warrants that there is no false or misleading statement or material omission in this Prospectus, and it shall be responsible for the truthfulness, accuracy, and completeness thereof. The Fund shall apply for offering based on the information in this Prospectus. The Fund Manager does not entrust or authorize any person to provide any information that is not disclosed in this Prospectus or to make any explanation or clarification of this Prospectus. This Prospectus is drafted pursuant to the Fund Contract and approved by the CSRC. The Fund Contract is the legal document stipulating the rights and obligations of the Parties to Fund Contract. Investors become Unitholders and Parties to the Fund Contract starting upon acquiring the Units pursuant to the Fund Contract. Their holding of the Units indicates their acknowledgement and acceptance of the Fund Contract, and they shall enjoy the rights and bear the obligations pursuant to the Funds Law, the Fund Contract and other Laws and Regulations. Investors should carefully review the Fund Contract to have a knowledge of the rights and obligations of the Unitholders.

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

§ 2 Definition

Unless otherwise specified herein, the following terms in this Prospectus shall have the meanings given below:

“Contract” or “Fund refers to the Fund Contract of China Southern Selected Value Mixed Contract” Securities Investment Fund and any valid amendments and supplements thereto from time to time “China” or the “PRC” refers to the People's Republic of China, for the purposes of the Fund Contract only, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan “Laws and refers to the laws, administrative regulations, departmental rules and Regulations” regulatory documents of the PRC in effect at the present time “Funds Law” refers to the Law of the People’s Republic of China on Securities Investment Fund “Sale Measures” refers to the Administrative Sale Measures of Securities Investment Fund “Operation Measures” refers to the Administrative Operation Measures of Securities Investment Fund

“Information refers to the Administrative Measures of Information Disclosure for Disclosure Measures” Publicly Offered Securities Investment Funds issued by the CSRC on 26 July 2019 and effective from 1 September 2019 and any amendment thereto made by it from time to time

“Liquidity Risk refers to the Rules of Liquidity Risk Management for Publicly Offered Management Rules” Open-ended Securities Investment Funds issued by the CSRC on 31 August 2017 and effective from 1 October 2017 and any amendment thereto made by it from time to time “RMB” or “Yuan” refers to RMB Yuan, the lawful currency of the PRC “Fund” or the “Fund” refers to the China Southern Selected Value Mixed Securities Investment Fund offered pursuant to the Fund Contract “Prospectus” refers to the Prospectus of China Southern Selected Value Mixed Securities Investment Fund , an offering document for the disclosure of information in relation to the Fund, including the Fund Manager, the Fund Custodian, relevant service providers, the initial offering of the Fund, the coming into effect of the Fund Contract, Subscription and Redemption of Units, Fund investments, Fund performance, Fund assets and valuation of Fund assets, the Fund Income and its

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

distribution, fees and taxation, information disclosure, risk disclosure, termination and liquidation of the Fund, summary of the Fund Contract, summary of the Custodian Agreement, services to Unitholders, other disclosures, maintenance and inspection of this Prospectus, documents available for inspection and other information for Investors to consider and make decision on the initial Subscription “Fund product or Subscription, and its updates information Refers to the fund product information summary of China Southern summary” Selected Value Mixed Securities Investment Fund and its updates “Custodian refers to the Custodian Agreement of China Southern Selected Value Agreement” Mixed Securities Investment Fund entered into between the Fund Manager and the Fund Custodian and any valid amendments and supplements thereto from time to time “Offering refers to the Offering Announcement of China Southern Selected Value Announcement” Mixed Securities Investment Fund “Business Rules” refers to the Rules on Open-ended Fund Business of China Southern Asset Management Co., Ltd. “CSRC” refers to the China Securities Regulatory Commission “Banking Regulatory refers to the People's Bank of China or China Banking and Insurance Authority” Regulatory Commission “Fund Manager” refers to China Southern Asset Management Co., Ltd. “Fund Custodian” refers to the Industrial and Commercial Bank of China Limited “Unitholder” refers to an investor who lawfully acquires Units pursuant to the Fund Contract and relevant documents “Sales Agency” refers to a sales agency which is qualified to carry out sales agency of funds under the Sale Measures and other requirements of the CSRC and has entered into a sales and service agency agreement with respect to the Fund with the Fund Manager to handle the Offer, Subscription, Redemption and other operations of the Fund “Sales Institutions” refers to the Fund Manager and Sales Agencies “Sales Outlets” refers to direct sales outlets of the Fund Manager and distribution outlets of the Sales Agencies “Registration refers to the registration, deposit, transfer, clearing and settlement of the Business” Fund, including management of the Unitholders’ Fund Accounts, registration, settlement and clearing of the Units, confirmation of transactions of the Fund, distribution of dividends, creation and maintenance of the register of the Unitholders and others “Fund Registration refers to China Southern Asset Management Co., Ltd. or other eligible

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Institution” institutions authorized by it to handle the registration business for the Fund “Parties to the Fund refers to legal entities which are bound by the Fund Contract and enjoy Contract” the rights and bear the obligations under the Fund Contract, including the Fund Manager, the Fund Custodian and the Unitholders

“Retail Investor” refers to a natural person who is eligible to invest in open-ended securities investment funds under the Laws and Regulations

“Institutional refers to an enterprise as legal person, institution as legal person, Investor” corporation or other bodies which is registered and subsists under laws or approved to be established and subsist by competent government departments in the PRC and is eligible to invest in open- ended securities investment funds under the Laws and Regulations

“Qualified Foreign refers to such foreign fund management institutions, insurers, securities Institutional Investor companies and other asset management institutions which meet the (QFII)” requirements specified by the Administrative Measures on Investment in Securities in China by Qualified Foreign Institutional Investors and, which have been approved by the CSRC to invest in the Chinese securities market, and which have obtained an approval of a quota by the State Administration of Foreign Exchange “Investor” refers to, collectively, Retail Investors, Institutional Investors, Qualified Foreign Institutional Investors or other investors as permitted to make subscriptions from open-ended securities investment funds under the Laws and Regulations or by the CSRC “Fund Contract refers to the date on which the Fund Contract starts to be effective upon Effective Date” the initial offering having satisfied conditions under the Laws and Regulations and the Fund Contract, the Fund Manager having engaged a statutory institution for capital verification and reported to CSRC for filing, and CSRC having confirmed this in writing “Initial Offer Period” refers to the period commencing from the date of the initial Offer of the Units, which shall not exceed three months “Term of the Fund” refers to the indefinite period from the Fund Contract becoming effective during which the Fund Contract remains valid

“Day” A calendar day

“Month” A calendar month

“Business Day” refers to a normal trading day of Shanghai Stock Exchange and Shenzhen Stock Exchange

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

“Open Day” refers to a Business Day on which a Sales Institution is open for Subscription, Redemption and other operations of the Fund “Day T” refers to the date on which Subscription, an application for Redemption or other operations may be carried out

“Day T+n” refers to the nth Business Day after Day T (excluding Day T)

“Initial Subscription” refers to a subscription of Units by an Investor during the Initial Offer Period

“Initial Offer” refers to an offer of Units by a Sales Institution to the Investors during the Initial Offer Period

“Subscription” refers to a subscription of Units by an Investor from the Fund Manager based on procedures of a Sales Outlet. Ordinary subscription with respect to the Fund may be made from no later than three months after the Fund Contract becoming effective “Front-end Charges” refers to initial subscription/subscription fees payable by Investors when making a initial Subscription/Subscription “Back-end Charges” refers to initial subscription/subscription fees payable by Investors on Redemption but not upon making initial Subscription/Subscription , and the rate thereof gradually decreases to zero in inverse proportion with the length of time of holding in the Fund “Redemption” refers to a disposal of Units by a Unitholder to the Fund Manager based on the procedures as required by a Sales Outlet. Ordinary redemption with respect to the Fund may be made from no later than three months after the Fund Contract becoming effective “Massive refers to applications for Redemption on a particular Open Day the net Redemption” number of Units under which, being the sum of total number of Units of Redemption applications and total number of Units of Switching-out applications less total number of Units of Subscription and total number of Units of Switching-in applications, exceeds 10% of the total number of Units of the preceding day “Fund Account” refers to an account at the Fund Registration Institution opened for an Investor for the purpose of recording such Investor’s holding of units of open-ended funds managed by the Fund Manager “Trading Account” refers to an account at a Sales Institution opened for an Investor for the purpose of recording the changes and balance of the Units held by such Investor resulting from fund transactions made through such Sales Institution

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

“Transfer of Custody” refers to the act of transfer by a Unitholder of his Units under the same Fund Account from a certain Trading Account into another Trading Account “Switching” refers to a Unitholder’s application to switch all or part of his/her Units of an open-ended fund (the switching-out fund) managed by the Fund Manager to Units of another open-ended fund (the switching-in fund) managed by the Fund Manager “Regular Investment refers to a method of investment under which an Investor makes an Plan” application to a relevant Sales Institution for regular Subscription of the Fund, such Sales Institution will then automatically debit such amount from such bank account by such method at such interval as specified by such Investor for purchasing the Units “Fund Income” refers to bonuses and dividends of stocks, interests on bonds, gains on notes investment, disposal gains of securities, interests on bank deposits and other gains accrued from investment of the Fund and reduction in costs or fees in operating assets of the Fund “Total Asset Value” refers to the gross value of all types of securities and notes, the principal and interests of bank deposits, application fees receivable and other investments of the Fund “Net Asset Value refers to the total asset value net of liabilities of the Fund (NAV)”

“Valuation of the refers to the process of estimating the value of the assets and liabilities Fund Assets” of the Fund to determine the NAV “Money Market refers to cash, time deposits and wholesale deposits at banks due within Instrument” one year (inclusive), bonds due within 397 days (inclusive), bond repos due within one year (inclusive), central bank bills due within one year (inclusive) and other money market instruments approved by the CSRC and the People’s Bank of China with good liquidity “Designated Media” refers to the national newspapers designated by the CSRC and designated internet websites (including the internet websites of the Fund Manager, the Fund Custodian and the digital disclosure website of the CSRC) and other media outlets for information disclosure “Illiquid Assets” refers to any asset not capable of being liquidated at a reasonable price due to laws, regulations, contractual, operational difficulties or other reasons, including but not limited to reverse repurchase with a maturity of over 10 trading days and bank deposits (including those with agreed conditional early withdrawal), suspended stocks, new stocks subject to

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

retention, and non-publicly offered stocks, asset-backed securities, bonds that cannot be transferred or traded due to default by the issuer, if otherwise provided by Laws and Regulations prescribed by the CSRC “Force Majeure” refers to objective events which cannot be foreseen, avoided or overcome by the Parties to the Fund Contract “SFC” refers to the Securities and Futures Commission “Circular” refers to the “Circular on Mutual Recognition of Funds (MRF) between the Mainland and Hong Kong” promulgated by the SFC on 22 May 2015 and became effective on 1 July 2015, and other amendments from time to time by the issuing authority “Class A Unit” refers to the class of Units set up for sale in Mainland China and for investors in Mainland China in accordance with laws and regulations such as “Funds Law” and “Sale Measures” and and where no sale service fee is charged upon and paid out of the Fund assets. “Class C Unit” refers to the class of Units set up for sale in Mainland China and for investors in Mainland China in accordance with laws and regulations such as “Funds Law” and “Sale Measures” and and and where sale service fee is charged upon and paid out of the Fund assets. “Class H Unit” refers to the class of Units of the Fund set up for investors in Hong Kong and for sale in Hong Kong Sale Institutions in accordance with laws and regulations such as the “Funds Law” and “Sale Measures” and the “Circular” “Unit” refers to Class A Unit ,Class C Unit, Class H Unit and other class of Units which the Fund will set up in the future, save for the Class H Unit which the Fund Contract otherwise provided for “Hong Kong refers to the Hong Kong representative acting for the Fund in accordance Representative” with laws and regulations such as the “Circular”, and which is responsible for receiving applications for subscription and redemption from investors/institutions in Hong Kong, coordination of sale of the Fund, reporting and filing to the SFC and work related to information disclosure and communications of Hong Kong investors and other duties that are required to be performed, in accordance with the laws of Hong Kong ”Hong Kong Sales Refers to related sales institutions which are approved by the SFC and Institutions” possess fund sale qualifications, and deal with subscription, redemption of Class H Units of the Fund and deal with other fund businesses ”Nominee” refers to Hong Kong Representative or Hong Kong Sale Institutions which shall, in the name of the investors, hold the Units of “Recognized

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Mainland Fund” (Class H unit) and appear in the register of the Unitholders of Fund Registration Institution, according to characteristics of Hong Kong market

Where any content of the above definitions is related to any Laws and Regulations or any Business Rules, such content shall be consistent with such Laws and Regulations and/or Business Rules as may be amended from time to time (where applicable to the Fund).

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

§ 3 Fund Manager

3.1 Summary of Fund Manager Name: China Southern Asset Management Co., Ltd. Domicile and Office Address: Floors 32-42, Fund Building, 5999 Yitin Road , Lianhua Street, Futian District, Shenzhen, China Date of Incorporation: 6 March 1998 Legal Representative: Zhang Haibo Registered Capital: RMB361.72 million Telephone: (0755) 82763888 Fax: (0755) 82763889 Contact Person: Chang Kechuan In 1998, China Southern Asset Management Co., Ltd. was jointly established by China Southern Securities Co., Ltd., Xiamen International Trust and Investment Company and Guangxi Trust and Investment Co., Ltd. upon the approval of the CSRC Zheng Jian Ji Jin Zi [1998] No. 4. In 2000, its registered capital was increased to RMB100 million upon the approval of the CSRC Zheng Jian Ji Jin Zi [2000] No. 78. In 2005, its registered capital was increased to RMB150 million upon the approval of the CSRC Zheng Jian Ji Jin Zi [2005] No. 201. In 2014, its registered capital was increased to RMB300 million. In January 2018, the company was changed to China Southern Asset Management Co., Ltd. with registered capital of RMB300 million. On 30 July 2019, the registered capital was increased to RMB361.72 million. At present, it is held by Huatai Securities Company Limited 41.16%, Shenzen Investment Holdings Company Limited 27.44%, Xiamen International Trust Company Limited 13.72%, Industrial Securities Company Limited 9.15%, Xiamen Hezeji Corporate Management Partnership Limited 2.10%, Xiamen Hezexiang Corporate Management Partnership Limited 2.12%, Xiamen Hezeyi Corporate Management Partnership Limited 2.11%, Xiamen Hezeying Corporate 2.20%.

3.2 Introduction of Officers 3.2.1 Board of Directors Mr. Zhang Haibo, he is a holder of a master’s degree in business administration, Chinese, no right of permanent residency outside China. He had served in the Jiangsu Agriculture & Forestry Office of the CPC with the highest position as assistant researcher, in the Jiangsu People’s Government Office as researcher, the assistant President, general manager of investment banking department, director of investment banking business and general manager of head department of investment banking business management, vice-president of Huatai Securities and chairman of Huatai Zijin Investment Co., Ltd, chairman of Huatai Financial Holdings (Hong Kong) Limited, and chairman of Huatai Securities (Shanghai) Assets Management Co., Ltd. He is currently the

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) secretary of party committee and chairman of China Southern Asset Management Co., Ltd. Mr. Zhang Hui, he is holder of a doctor’s degree in management, Chinese. He has served at the Talent Exchange and Service Center of Dongcheng District, Beijing, Shanghai office of Brilliance Group, Tongshang Holdings Co., Ltd. and cadre of Beijing New Margin Ventures Co. Ltd, senior manager of asset management head department, investment planner of securities investment department, deputy general manager of business department of Nantong Securities (Yaogang Road) and general manager of operation department (Ruijinyi Road in Shanghai), deputy general manager of securities investment department, general manager of general affairs department, general manager of human resources department and head of organization department of the party committee. He is currently the executive committee member and secretary of board of directors of Huatai Securities Co. Ltd., and director of the China Southern Asset Management Co., Ltd.Ms. Wang Lianfen, holder of a master’s degree of finance profession, Chinese. She had worked in companies including sales department of the Saige Group; research officer of Investment I Section of Shenzhen Investment Fund Management Company; deputy general manager of agency business department and general manager of business department (Fuhong Road) of China Eagle Securities Co., Ltd; assistant general manager and president of China Southern Head Office; assistant president in Firstrade; general manager of business department (Huaqiang North Road, Shenzhen), general manager of channel services department, general manageress of operation center, general manager of retail customers department and officer and assistant president of executive office of Huatai United Securities, and assistant president and general manager of Shenzhen branch office of Huatai Securities Co. Ltd. She is currently the assistant director of the executive committee and general manager of the Shenzhen branch office of Huatai Securities Co., Ltd., and director of the China Southern Asset Management Co., Ltd. Mr. Feng Qingshan. He is holder of bachelor’s degree in engineering, Chinese. He had served as deputy brigade commander of land mine company of combat engineer camp of 124th division of the army; political tutor (acting), brigade commander of the organization unit of the division’s political section, deputy divisional secretary of the organization office of political section of the 42nd group army; main camp secretary of the political section of the troop stationed in Hong Kong; main camp secretary of the political section of the troop stationed in Macau; deputy section head (brigade commander) of publicity unit of the political section of the 163rd division of the army; senior staff of education research office, disciplinary investigator at deputy level, deputy officer of the office, officer of probity fostering office of Shenzhen City Committee. He is currently the director of Shenzhen Investment Holdings Co., Ltd; deputy officer of Office of Shenzhen City Committee; deputy secretary of the party committee, clerk to disciplinary committee and supervisor of Shenzhen Investment Holdings Co., Ltd. and director of the China Southern Asset Management Co., Ltd. Mr. Li Ping. He is holder of master’s degree in business administration, Chinese. He has served as secretary to the office of and secretary to directors’ office and head officer of the Shenzhen ExpAnder Urban Construction Group & Design Institute; and senior head officer and senior head officer of the Company III Section of the Office of Shenzhen Investment Holdings Co., Ltd. He is 11

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) currently the vice department head of the finance development department of Shenzhen Investment Holdings Co., Ltd and director of Shenzhen City Construction Development (Group) Co. and director of the China Southern Asset Management Co., Ltd. Mr. Li Zicheng, holder of a master’s degree in modern history, Chinese. He served as a deputy general secretary to the department of philosophy, Xiamen University, the office director, sales manager, accounting and finance manager and assistant general manager of Xiamen International Trust and Investment Company, a deputy general manager of Xiamen International Trust and Investment Co., Ltd., labour union chairman, and designated deputy general secretary of the PRC communist party of Xiamen International Trust Co., Ltd and the general manager. He is currently the general manager of Xiamen International Trust Co., Ltd. He is currently director of the China Southern Asset Management Co., Ltd. Wang Bin. He is holder of doctor’s degree in clinical medicine, Chinese. He had served as clinical doctor in People's Hospital of Sixian Anhui; attending doctor in Ruijin Hospital; medical sector researcher, assistant general manager, deputy director, deputy general manager (presiding) and general manager of the Industrial Securities Institute. He is currently the dean of the Institute of Economics and Finance of the Industrial Securities Institute and director of the China Southern Asset Management Co., Ltd.. Mr. Yang Xiaosong, a holder of a master’s degree in economics, Chinese certified public accountant, Chinese, no right of permanent residency outside China. He had served as a professional accounting translator of Deloitte Touche Tohmatsu. He had served as staff in the securities department of Everbright Bank, intern of NASDAQ in the United States, division chief and deputy officer of regulation department of China Securities Regulatory Commission, and supervisory head of China Southern Asset Management Co., Ltd. He is currently director and president of China Southern Asset Management Co., Ltd and designated deputy secretary of the PRC communist party and director of CSOP Asset Management Limited. Mr. Yao Jingyuan, holder of a master’s degree in Economics, Chinese. He had been a deputy director of the State Economic Commission of the PRC, deputy director of the policy research department and officer and deputy director of the international cooperation department of the Ministry of Commerce, a vice chairman and executive vice chairman of the Commerce Branch, the China Council for the Promotion of International Trade, officer of Domestic Trade Business Development Center, vice chairman and general secretary of Chinese General Chamber of Commerce, deputy general secretary of the Anhui provincial government, mayor of the Anhui Fuyang city government, the director and a designated secretary of the PRC communist party of Anhui Province Statistics Bureau and the chief economist and spokesperson of the National Bureau of Statistics. He is currently a State Council Counsellors' Office special researcher, chairman of the social investigation centre of the State Council Counsellor’s Office, deputy director of the expert committee of the financial research center for the State Council Counselor's Office and the People's Bank of China, vice president of China Statistical Society and independent director of the China Southern Asset Management Co., Ltd. 12

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Mr. Li Xindan, holder of PhD in finance, an expert of the State Council special allowance, Chinese. He served as an associate professor at School of Economics and Management, Southeast University and dean of School of Management and Engineering, Nanjing University. He is currently the head of Nanjing University-Oxford University Financial Innovation Institute, director of research center for financial engineering, professor and doctoral adviser of Nanjing University, , executive director of the Chinese Finance Annual Conference, chairman of Jiangsu Capital Market Research Association, vice chairman of Jiangsu Science and Technology Innovation Association, supervisor of the Bank of Jiangsu, Director of the Expert Committee for the Science and Technology Innovation Board System Evaluation of the Shanghai Stock Exchange and independent director of the China Southern Asset Management Co., Ltd. Mr. Richard Chow, holder of PhD in business administration, holder of a master’s degree in law, a senior fellow of Hong Kong Securities and Investment Institute. He served at Hong Kong Police Force (Commercial Crime Bureau), Hong Kong Securities and Futures Commissioner's Office and Hong Kong Securities and Futures Commission as the director of the enforcement department of the commission. He is currently a consultant to the Hong Kong Monetary Authority and independent director of the China Southern Asset Management Co., Ltd. Mr. Zheng Jianbiao, holder of master’s degrees in economics and in business administration, Chinese certified public accountant, Chinese. He had served as a cadre at the Beijing Municipal Finance Bureau, Shenzhen Shekou Zhonghua Accountant and Jingdu Accountant, a member of the 9th stock offering audit committee of the CSRC and a member of the 1st to 3rd expert advisory committee for merger, acquisition, reorganization of listed companies of the CSRC. He is currently a managing partner of Grant Thornton, vice president of China merger and acquisition association, vice president of the Institute of Certified Public Accountants in Beijing and independent director of the China Southern Asset Management Co., Ltd. Ms. Zhou Rui, holder of a master’s degree in law, Chinese. She has served at well-know law firms like V & T Law Firm, Zhong Lun Law Firm, she was the deputy director of the Women's Working Committee for the Guangdong Lawyers Association, deputy director of the Securities, Fund and Futures Professional Committee for the Shenzhen Lawyers Association, and Deputy Director of the International and Hong Kong, Macao and Taiwan Working Committee for the Shenzhen Lawyers Association. She is currently a partner of King & Wood Mallesons, director of the Guangdong Office of the China Mergers & Acquisitions Association, , expert of the Shenzhen SMEs Restructuring and Listings Expert Services Group, expert of the training center for the Shenzhen Stock Exchange, council member of the China Association of Women Entrepreneurs in Shenzhen city and independent director of the China Southern Asset Management Co., Ltd.. 3.2.2 The Supervisory Committee Mr. Wu Xiaodong, holder of master’s degree in law, Chinese, no right of permanent residency outside China. He had served as director and deputy director of the CSRC; compliance director of Huatai Securities; vice president, party committee clerk and chairman of Huatai United Securities,. He is currently the chairman of Supervisory Committee of China Southern Asset Management Co., 13

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Ltd. and supervisor of China Southern Equity Management Co., Ltd. Ms. Chen Li, Master of Laws, Chinese. He once served as general manager of the Shenzhen Mintian Road Sales Department of Huatai Securities, general manager of Shenzhen Yitian Road Sales Department and deputy director of the Institute. He is currently the Director of the Institute of Huatai Securities Co., Ltd., Chairman of the Supervisory Board of Huatai Futures Co., Ltd., Director of Huatai International Financial Holdings Limited and Supervisor of the China Southern Asset Management Co., Ltd. Ms. Jiang Lihua, university degree, senior accountant, Chinese. She served as chief accountant at Zhejiang Lanqi Majian Rice Factory, Zhejiang Lanqi Textile Machinery Factory and Shenzhen Construction Machinery Power Company, and served as assistant account of Shenzhen Construction Group and senior accountant and assistant manager of the Planning and Finance Department for Shenzhen Construction Investment Holdings Co., Ltd. She had been of Shenzhen Investment Holdings Co., Ltd.’s deputy manager of planning and finance department, deputy director of budget department and director of the appraisal and distribution department. She is currently the director of the finance department (settlement center) of Shenzhen Investment Holdings Co., Ltd. and the director of Shenzhen International Tendering Co., Ltd., Shenzhen Special Economic Zone Real Estate & Properties Group Co. Ltd. and Shenzhen Jianan (Group) Co., Ltd. director of Hubei Shenzhen Investment Investment Development Co., Ltd., director of ULTRARICH INTERNATIONAL LIMITED and supervisor of the China Southern Asset Management Co., Ltd.. Ms. Chen Mingya, bachelor degree, certified public accountant, Chinese nationality. He used to be Deputy General Manager of the Finance Department of Xiamen International Trust Co., Ltd. He is currently the General Manager of the Finance Department and General Manager of the Investment Development Department of Xiamen International Trust Co., Ltd. (adjunct). Ms. Lin Hongzhen, holder of MBA degree, Chinese. She served as an accountant of Xiamen Foreign Supply Company, deputy manager of the finance department of Xiamen Zhongyou Trade United Company and manager of the finance department of Xiamen Foreign Real Estate Development Company. She joined Industrial Securities and served as the director of the general finance team, finance manager of operations department, manager of the planning and finance division, finance and accounting department, assistant general manager of risk control department, manager of the audit department, deputy director of risk management department, deputy director of audit department, deputy general manager of risk management department (presiding), general manager of risk management department, general manager of finance department, general manager of capital operation and management department, and general manager of the general finance team. She is currently the chief financial officer of Industrial Securities and supervisor of the China Southern Asset Management Co., Ltd. Mr. Xu Gang, master of business administration, Chinese. He has no right of permanent residency outside China and he worked in Shenzhen Futures Investment Company (深圳期貨投資公司) as a staff member and project manager, and worked for the Shanghai branch of the China

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Southern Asset Management Co., Ltd... He served as a staff member of the instutional business department, head of the pension business department, a senior manager, deputy general manager and director of the Shanghai branch, He is currently an employee supervisor and director of the pension business department of China Southern Asset Management Co., Ltd. Ms. Dong Xinghua, master degree, Chinese, no right of permanent residency outside China. She has been working for the Wuhan branch of The People’s Insurance Company (Group) of China Limited, China Life Reinsurance Company Ltd., China Reinsurance (Group) Corporation and Shenzhen Securities Communication Co., Ltd., and served as the manager of general management department of China Southern Asset Management Co., Ltd., senior office manager and is currently the employee supervisor and senior vice president of China Southern Asset Management Co., Ltd.. Mr. Su Wang, master of law, Chinese, no right of permanent residence outside China. He used to be an employee of the compliance management department of Guosen Securities Co., Ltd. and an employee of Shenzhen Rongtong Capital Management Co., Ltd. He is currently the employee supervisor of the China Southern Asset Management Co., Ltd. and the senior vice president of the Supervision and Audit Department.

3.2.3 Senior management Mr. Zhang Haibo, the chairman, his biographical details are set out above. Mr. Yang Xiaosong, the president, his biographical details are set out above. Mr. Yu Wenhong, vice president, holder of MBA and an economist, Chinese, no right of permanent residence outside China. He served as an operational manager of Jiangsu Investment Company, departmental manager of Jiangsu International Investment Company, investment banking general manager of Jiangsu International Trust and Investment Company and the chairman and general manager of Jiangsu Guoxin High-tech Venture Capital Co., Ltd, chairman of China Southern Capital Management Limited. He is currently a vice president of and designated member of the PRC communist party at China Southern Asset Management Co., Ltd. Mr. Zhu Yundong, vice president, holder of bachelor’s degree of economics, senior economist, Chinese, no right of permanent residence outside China. He served as secretary of the local budget department and the general office of Ministry of Finance and general manager of the integrated management department of China Economic Development Trust and Investment Company, the general manager of the Beijing branch of China Southern Asset Management Co., Ltd., product development director, assistant president and chief marketing officer, and is currently a vice president and designated member of the PRC communist party of China Southern Asset Management Co., Ltd. Mr. Chang Kechuan, vice-president, EMBA Master of Business Administration, Chinese, no right of permanent residence outside China. He previously served as deputy secretary (division level) of Agricultural Bank of China, general manager of investment business department of China Southern Securities Company Limited, general manager and assistance to president of Shenyang Branch, secretary to the Board and compliance director of Huatai Lianhe Securities, director of 15

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

China Southern Asset Management Co., Ltd., he currently acts as vice-president, secretary to the Board and secretary of the disciplinary commission. Mr. Li Haipeng, vice-president, Master of Business Administration, Chartered Financial Analyst (CFA), Chinese, no right of permanent residence outside China. He previously served as senior analyst of investment department of AXA Financial Company, Chinese. He served as senior research fellow, assistant fund manager, fund manager, executive director of National Social Security and International Business Department, director of National Social Security Business Department, CIO (fixed income), vice president and director of fixed-income investments of China Southern Asset Management Co., Ltd., director CSOP Asset Management Co., Ltd.. He currently acts as vice-president, director of Fixed Income of China Southern Asset Management Co., Ltd.. Mr. Shi Bo, vice-president, Master of Economics, Chartered Financial Analyst (CFA), Chinese, no right of permanent residence outside China. He previously served as researcher and assistant general manager of the marketing department of Bosera Asset Management Co., Limited, senior investment manager of the equities department of China Life Asset Management Company Limited, investment deputy director, research director, chief strategy analyst and portfolio manager of MANULIFE TEDA Fund Management Co., Ltd., portfolio manager, director of the research department, vice president and CIO (equity investment) of China Southern Asset Management Co., Ltd.; he is currently vice-president and CIO (equity investment) of China Southern Asset Management Co., Ltd., portfolio manager. Mr. Bao Wenge, chief compliance officer, holder of master’s degree in economics, Chinese, no right of permanent residence outside China. He served as an auditor of the China Accountant, Ministry of Finance and assistant general manager of investment banking and planning and finance, China Southern Securities Co., Ltd. director of operation security, supervisor, chief financial officer and assistant general manager of China Southern Asset Management Co., Ltd., and is currently the chief compliance officer of China Southern Asset Management Co., Ltd. and a director of China Southern Asset Management Co., Ltd. 3.2.4 Portfolio Manager Portfolio managers of the Fund are: Tan Jianqiang: Mr. Tan Jianqiang had served as the Portfolio Manager of the Fund; from 18 June 2008 to 10 July 2015. Luo Shuai: Mr. Luo Shuai had served as the Portfolio Manager of the Fund from 19 June 2015 to 25 January 2019. Mr Luo An’an had served as the Portfolio Manager of the Fund from 10 July 2015 to present.Mr. Luo An’an, a holder of doctorate degree in computer science and technology of Tsinghua University and a holder of the fund practice qualification. In July 2010, he joined China Southern serving as a senior researcher of the research department. From 31 March 2014 to 5 November 2014, he was the assistant manager of China Southern Growth Fund and China Southern Selected Value Fund. From 5 November 2014 to 10 July 2015, he served as an investment manager and from 10 July 2015 to present, he serves as the portfolio manager of China Southern Selected Value Fund; from 15 December 2017 to present, he serves as the portfolio manager of China Southern Emerging Mixed Fund; from 8 June 2018 to present, portfolio manager 16

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) of China Southern National Policy Dynamic Fund. From 12 October 2018 to present, general manager of China Southern Artificial Intelligence Hybrid Fund. 3.2.5 Investment Decision-making Committee The investment decision-making committee is comprised of Mr. Li Haipeng, vice president and CIO (fixed income) and product development director, Mr. Shi Bo, vice-president and CIO (equity investments) , Mr. Mao Wei, general manager of equities research department, Ms. Wang Ke, director of transaction management, Mr. Zhang Yuan, general manager of equities investment department, Mr. Ha Chenxi, general manager of cash investment department, Ms. Luo Wenje, general manager of index investment department, Ms. Li Xuan, general manager of fixed income investment department, Mr. Qiao Yufu, general manager of fixed income dedicated account investment department, Mr. Tao Shuo, general manager of fixed income research department and Mr. Lui Shujun, general manager of special equity investment department. 3.2.6 The persons listed above are not close relatives to each other.

3.3 Duties and Responsibilities of the Fund Manager 1. To make initial offer or the Fund and handle or authorize other agencies as recognized by the CSRC to handle the Initial Offer, Subscription, Redemption and registration of the Units; 2. To undertake the filing procedure for the Fund; 3. To manage and keep accounts of the assets of funds under its management on an individual basis in making securities investment; 4. To make plans for distribution of the Fund Income in accordance with the Fund Contract and to promptly distribute income to the Unitholders; 5. To carry out accounting and prepare financial and accounting reports for the Fund; 6. To prepare quarterly, interim and annual reports of the Fund; 7. To calculate and announce the NAV pursuant to relevant requirements and determine the Subscription and Redemption prices of the Units; 8. To disclose information relating to the management of the Fund’s assets; 9. To convene Unitholders’ meetings; 10. To maintain records, accounting books, statements and other relevant data regarding the management of the Fund’s assets; 11. To exercise the right to institute legal actions or other legal proceedings on behalf of the Unitholders in the capacity of the Fund Manager; and 12. To discharge other duties and responsibilities as required by relevant Laws and Regulations and the CSRC.

3.4 Commitments of the Fund Manager with respect to compliance with the Laws and Regulations 1. The Fund Manager shall not commit any activities violating the Securities Law, and shall undertake to establish a sound internal control system and take effective measures to prevent 17

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) breaches of the Securities Law; 2. The Fund Manager shall not commit any activities violating the Funds Law, and shall undertake to establish a sound internal control system and take effective measures to prevent the occurrence of: (1) Mixing the Fund Manager’s own assets or third party’s assets with the Fund’s assets in investment in securities; (2) Treating different funds' assets under its management unequally; (3) Utilizing the Fund’s assets to obtain benefits for a third party other than the Unitholders; (4) Illegal promises of gains or assumption of losses to the Unitholders; and (5) Other activities prohibited by the CSRC pursuant to relevant requirements of laws and administrative regulations. 3. The Fund Manager shall enhance staff management, strengthen professional integrity, urge and require staff to observe the relevant Laws and Regulations and industry practices, conform to the principles of good faith and due diligence and not to engage in the followings: (1) Operating beyond their scope of authority or in breach of rules; (2) Violating the Fund Contract or this Custodian Agreement; (3) Wilfully prejudicing the lawful rights and interests of the Unitholders or other institutions related to the Fund; (4) Disclosing false information in materials submitted to the CSRC; (5) Rejecting, interfering, hindering or seriously affecting the regulation by the CSRC in accordance with laws; (6) Being derelict in their duties and abusing their authority; (7) Disclosing any confidential information regarding securities or the Fund known during their office, including such information as the investments or the investment plan of the Fund which are not yet announced in accordance with laws; (8) Assisting in, undertaking or otherwise carrying out securities trading for other entities or persons; (9) Violating the business rules of the stock exchanges, manipulating market prices and disrupting the market order by means of bucketing or prearranged trading; (10) Belittling industry peers to raise their own position; (11) Making misrepresentation or misleading or fraudulent statement in public information disclosure and advertisement; (12) Seeking business development by improper means; (13) Violating social ethics and damaging the images of practitioners of securities investment funds; or (14) Other acts prohibited by laws or administrative regulations.

3.5 Commitments of the Fund Manager with respect to prohibited acts For the protection of lawful rights of the Unitholders, the Fund is prohibited from the following 18

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) acts: 1. To be used to underwrite securities; 2. To be provided as loans or guarantee to third parties; 3. To be invested with unlimited liabilities; 4. To be used to subscription or sell units of other funds, except as otherwise stipulated by the State Council of the PRC; 5. To be contributed as capital to the Fund Manager or the Fund Custodian, or to be used to subscription or sell shares or bonds issued by the Fund Manager or the Fund Custodian; 6. To be used to subscription or sell securities issued by or underwritten within the underwriting period by controlling shareholders of the Fund Manager or the Fund Custodian or by companies which have substantial interests in the Fund Manager or the Fund Custodian; 7. To be used for insider trading, manipulation of securities prices, or other securities dealing misconducts; and 8. Other activities prohibited by the CSRC pursuant to relevant requirements of laws and administrative regulations.

3.6 Commitment of the Fund Manager 1. To seek, with prudence, to maximize the benefits for the Unitholders pursuant to relevant Laws and Regulations and the Fund Contract; 2. Not to make benefits for itself, its employees or any third party by taking advantage of its position; 3. Not to disclose any confidential information regarding the securities or the funds known during its office, including such information as the investments or the investment plan of the Fund which are not yet announced in accordance with laws; and 4. Not to carry out securities trading for other entities or persons by whatever means.

3.7 Internal Control System of the Fund Manager 1. General description The Fund Manager has developed a sensible, rigorous and effective internal control system to maximize its protection for the interest of the Unitholders by regulating operation of the company, effectively preventing and avoiding management risk, business risk and operational risk and ensuring financial and other information of the Fund and the company is true, accurate and complete. An internal control system is a framework comprised of organisational mechanisms, managerial means, operation procedures and control procedures for the purpose of internal control. The internal control system is made up of the internal control outline, the basic management systems and the departmental business rules. The company’s internal control outline elaborates the internal control principles prescribed by the company’s articles of association and is the outline and overview of all the basic management systems. The internal control outline specifies clearly contents such as the internal control objectives, 19

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) internal control principles, control environment and internal control measures. The basic management systems include the internal accounting control system, the risk control system, the investment management system, the law and compliance system, the fund accounting system, the information disclosure system, the management system of information technologies, the information and record management system, the performance evaluation and appraisal system and the emergency response system. The departmental business rules are the specific description of the major duties, posts, post responsibilities and operation rules of all the departments that are based on the basic management systems. 2. Principles of Internal Control Principle of comprehensiveness: Internal control shall cover all the businesses, departments or organs and personnel at all levels of the company and all the operational aspects such as decision- making, implementation, supervision and the provision of feedback. Principle of effectiveness: Reasonable internal control procedures shall be established and the internal control system shall be implemented effectively through scientific means and methods of internal control. Principle of independence: All the organs, departments and posts of the company shall be independent from each other and the Fund’s assets, own assets and other assets of the company shall be operated separately. Principle of checks and balances: The company’s internal departments and posts shall have clearly defined authority and duties which demonstrate checks and balances and shall operate in a practical manner. Principle of cost-effectiveness: The company shall motivate its organs, departments and staff to use scientific operation and management methods to reduce operating cost, improve economic efficiency and achieve the best internal control results at reasonable control cost. 3. Key internal control systems (1) Internal accounting control system Pursuant to the relevant Laws and Regulations of the PRC including the Accounting Law of the People's Republic of China, the company has set up the fund accounting system, corporate financial accounting system, workflow of accounting and duties of accounting positions, and has exercised stringent control over risk control points in the accounting systems. The internal accounting control system comprises of the certificate system, the review system, the accounting treatment procedures, the fund valuation system and procedures, the fund financial clearing system and procedures, the cost control system, the income and expenses examination system and reimbursement management measures, the asset registration and custody and physical asset inventory system, the accounting record keeping and financial affairs handover system and others. (2) Risk management control system The risk management system is formulated by the risk control committee together with other 20

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) departments, and comprises of risk control structuring, risk control procedures, specific systems of risk control and supervision of the implementation thereof. The specific systems of risk control mainly include the investment risk management system, transaction risk management system, financial risk control system, IT system risk control system and procedural risk management systems such as the duty segregation system, firewall system, feedback system, security system. (3) Law and compliance system The company has a chief compliance officer who is responsible for monitoring the compliance of the Fund and the company and its internal risk control. The chief compliance officer is nominated by the general manager and appointed by the board of directors upon approval by all independent directors. The chief compliance officer is responsible for organizing supervision of the company. Save for circumstances requiring absention, the chief compliance officer is entitled to be given adequate information and make independent investigations. Where his duties require, he may attend or be present at board meetings and other relevant meetings on business, investment decision or risk management of the company, and may inspect relevant documents and files of the company. He shall make reports on a regular and ad hoc basis to all directors and reports on operational compliance of the Fund and the company and internal risk control of the company at board meetings and meetings of relevant special committees of the board of directors. The company has a law and compliance department to carry out specific relevant duties. The department is staffed with sufficient qualified personnel and duties and workflow of its positions are clearly stipulated. The compliance system includes the internal supervision management measures and working guidelines for internal supervision. Through the establishment of these systems, the compliance of departments and staff of the company with relevant Laws and Regulations and rules are supervised and the implementation of internal control systems, management systems and business rules by departments and staff of the company may be inspected.

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

§ 4 Fund Custodian

I. Summary of the Fund Custodian Name: Industrial and Commercial Bank of China Limited Registered Address: No. 55 Fuxingmennei Avenue, Xicheng District, Beijing Date of Establishment: 1 January 1984 Legal Representative: Chen Siqing Registered Capital: RMB 356,406,257,089 Telephone: 010-66105799 Contact person: Guo Ming

II. Key Personnel As at June 2020, there were 212 employees in total of Custodian Banking Department of ICBC, their average age was 33 years old, more than 95% of the employees held a university bachelor degree or above, and all the senior management held post-graduate degrees or above, or with senior technician positions.

III. Fund Custody Business Operation As the pioneer of the custody services in Mainland China and the first domestic company to deliver custody services since 1998, ICBC has adhered to the purposes of “Honesty and Diligence”, relying on rigorous scientific risk management and internal control system, standardized management model, advanced operation system and professional service team, it strictly complies with the responsibilities of asset custodian, provides safe, effective and professional custodian services to domestic and foreign investors, so as to show its excellent market image and influence. ICBC has also established the most extensive, mature product line among the national domestic custodian banks. Its products include securities investment funds, trust assets, insurance assets, social security funds, basic retirement insurance, corporate annuity funds, QFII assets, QDII assets, equity investment funds, securities company CAM scheme, TAM scheme, credit assets securitization business of commercial banks, asset management for specific customers, QDII assets for specific customers, a wide range of custody products such as ESCROW. At the same time, it has provided value-added services such as conducting performance assessment and risk management in China, so as to deliver personalized custody services to a wide spectrum of customers. As at June 2020, ICBC acted as custodian for a total of 1094 securities investment funds. Since 2003, the Company has been awarded 73 Best Custodian Bank awards by domestic and foreign authoritative financial media such as "Asiamoney" of Hong Kong, "Global Custodian" of the United Kingdom, "The Asset Magazine" of Hong Kong, "Global Finance" of the United States, "Securities Times"

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) and "Shanghai Securities News" of Mainland China for seventeen consecutive years, which is the most awarded domestic custodian bank, and its excellent quality of services has been recognized continuously and well received by domestic and foreign financial sector.

IV. Responsibilities of Fund Custodian 1. Safe keep Fund's assets in good faith with due diligence; 2. Establish a special Fund custody department to be in charge of matters related to custody of Fund's assets, with satisfactory view of business and equipped with sufficient and qualified professionals familiar with Fund custody business; 3. Develop and improve systems for internal risk control, supervision & audit, financial management and personnel management; ensure that Fund's assets in custody are independent from the assets of the Fund Custodian and from various other fund's assets; establish separate accounts and separate accountings for different Fund's assets; conduct account-divided management to ensure that different funds are mutually independent concerning registration, account settings, transfer of Funds and account records etc. 4. Subject to the Funds Law, the Fund Contract and other relevant rules, the Fund Custodian shall not seek interests for the benefit of itself or any third parties using the Fund's assets, or engage any third parties to carry out custody of the Fund's assets; 5. Safe keep material contracts related to the Fund executed by the Fund Manager on behalf of the Fund, together with relevant voucher; 6. Create Fund accounts and securities accounts for the Fund's Assets in accordance with the rules and promptly deal with liquidation and closing matters as agreed in the Fund Contract and based on the investment instruction from the Fund Manager; 7. Keep trade secrets of the Fund and unless otherwise specified by the Funds Law, the Fund Contract and other relevant rules, information of the Fund shall be kept confidential and shall not be made available to others prior to public disclosure; 8. Review and check the Net Asset Value of the Fund, the prices for Subscription and Redemption of Fund Units calculated by the Fund Manager; 9. Handle matters of information disclosure in relation to business activities associated with Fund custody; 10. Provide comments on financial and accounting reports, quarterly reports, semi-annual reports and annual reports of the Fund, indicating whether the Fund Manager is operating in all material aspects in strict accordance with the Fund Contract and whether proper measures have been taken by the Fund Custodian if the Fund Manager fails to comply with any provisions in the Fund Contract; 11. Keep records, books, statements and other relevant documents in respect of business activities associated with Fund custody for more than 15 years; 12. Develop and safe keep the Fund Unitholder register; 13. Prepare relevant accounting statements as required and check the same with the Fund 23

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Manager; 14. Pay the Fund Income or make Redemption payments to the Unitholders pursuant to instructions of the Fund Manager or relevant regulations; 15. Convene the Unitholders' Meeting or assist the Fund Manager and the Unitholders in legally convening the Unitholders' Meeting in accordance with the regulations; 16. Supervise the Fund Custodian pursuant to the laws and regulations and provisions of the Fund Contract; 17. Participate in the Fund asset liquidation group for custody, disposal, valuation, realization and allocation of Fund's assets; 18. Promptly report to the CSRC and the banking regulatory bodies and notify the Fund Manager if it is subject to dissolution, revocation in accordance with the laws or declared to be bankrupt in accordance with the laws; 19. Be responsible for making compensation for losses of Fund's assets caused by its breach of the Fund Contract, and such liabilities shall not be released by its termination of being the Fund Custodian; 20. Supervise the Fund Manager over fulfillment of responsibilities thereof in accordance with the laws and regulations and the Fund Contract, and, for the benefit of the Fund, recover from the Fund Manager the losses of Fund's assets arising out of breach of the Fund Contract by the Fund Manager; 21. Implement effective resolutions of Unitholders' Meetings; 22. Other obligations specified by the laws and regulations, stipulations set forth by the CSRC and the Fund Contract.

V. Internal control system of the Fund Custodian Since the establishment of the custody banking department of ICBC, and the rapid development of all sectors of businesses continued to consolidate the leading position in the asset custodian industry. These achievements are inseparable with the focused efforts in business development and internal control set-up of the custody banking department. The asset custody department attaches great importance to improving and strengthening internal risk management, which takes strengthening risk prevention and control, nurturing the internal control culture, improving the risk control mechanism and strengthening the “entire process risk management” as an important work while actively expanding all custodian businesses. It has passed the most authoritative ISAE3402 review (which evaluates the internal control and safety measures of the organization) successfully for twelve times since 2005 and obtained the unqualified control and effective report. It represented the full recognition from the independent third-party towards the integrity and effectiveness of Industrial and Commercial Bank of China Limited’s risk management and internal control, which also proved that the risk management of ICBC’s custodian services match with that of the international major custodian banks and reached international advanced level. To date, the ISAE3402 review has become an annual and conventional measure 24

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) for internal control.

1. Goal for internal risk control To ensure the business operation strictly complies with the relevant national laws, regulations and industry regulatory rules, strengthen and establish a law-abiding, standardized operation philosophy and operation style, forming an internal control mechanism with standardized operation, scientific management and institutionalized monitoring; prevent and resolve operational risks, so as to guarantee the security and integrity of the assets in custody; protect the interests of the unitholders; guarantee the security, effectiveness and stable operation of the asset custodian business.

2. Organizational structure of internal risk control The organizational structure of internal risk control of ICBC Asset Custody Business is jointly made up by the Supervisory and Compliance Department of ICBC (Internal Control Compliance Department and Internal Audit Bureau), the Risk Control Division under the Asset Custody Department and all the business offices and divisions under the Asset Custody Department. The Supervisory and Compliance Department of the Head Office is responsible for preparing the risk management policies of the bank and the supervision and guidance of risk control for all the business departments. The Asset Custody Department has an internal risk control division, which is exclusive in charge of the supervision and compliance. The division has specially-designated person in charge of supervision and compliance, who, under the direct leadership of the General Manager and in accordance with relevant laws and regulations, exercises the supervisory power independently over the operation of business. All business offices and divisions implement specific risk control measures to the extent of their own duties and responsibilities.

3. Principles of internal risk control (1) Compliance with laws. The internal control system shall comply with the national laws and regulations, as well as the regulatory requirements of the regulatory authorities and shall apply to the whole process of the operation and management activity of custody business. (2) Integrity. All the operational and management activities of the custody business shall be restricted by corresponding standard procedures and supervision; such restriction shall be applied to the whole process and all the operating procedures of the business, covering all the departments, positions and personnel. (3) Timeliness. All the operational and management activities of the custody business shall be accurately and timely recorded when occurred; according to the principle that “internal control has the priority”, relevant rules and regulations shall be established when new institution is established or new variety of business is added. (4) Prudence. All the operational activities of the business shall be prevented from risks, and conducted with prudence to guarantee the security and integrity of the assets of the fund and other entrusted assets. 25

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

(5) Effectiveness. The internal control system shall be properly amended and improved according to the national policies, laws as well as the needs in operation and management, and shall be guaranteed for comprehensive implementation with no exception in any place, at any time or for any person. (6) Independence. A management department shall be set up to fulfill the duties of the custodian. The director operator shall be independent of and properly separated from the controller; the department reviewing and assessing the internal control system shall be independent of the department formulating and carrying out the system.

4. Implementation of the internal risk control measures

(1) Strict segregation system. The asset custody business shall be strictly segregated from the traditional business. A series of rules and regulations such as clear job responsibilities, scientific business procedures, specific operating manure and strict code of conduct have been established and the good firewall separation system has been adopted to ensure independent assets, independent environment, independent personnel and business system as well as independent management and network. (2) Examination from senior management. Leaders of bank in charge and the senior management of departments, who are the makers of the policies and strategies in relation to the custody business of ICBC, require the subordinate departments to timely report the operation, management and special circumstance to track the progress of the Asset Custody Department in realizing its targets in internal control, propose internal control measures according to the examination, and urge functional departments to make improvements. (3) Personnel control. The Asset Custody Department strictly carries out the job responsibility system, establishes three lines of defense that are “self-control defense line”, “mutual control defense line”, and “supervision defense line”, improves the performance assessment and incentive mechanism, create the “people-oriented” internal control culture, enhance the personnel’s sense of responsibilities and honors and cultivate the team spirit and core competitive power; and enable the personnel to set up concept of risk prevention and control by periodical and directional business and professional ethics trainings and signing of the letter of commitment. (4) Operation control. By formulating plans and preparing budgets, the Asset Custody Department has conducted all kinds of business marketing activities and handling all kinds of transaction so as to effectively control and allocate the organization resource to maximize the utilization of resources and the benefits. (5) Internal risk management. By supervision, inspection and risk assessment, the Asset Custody Department enhances the internal risk management that it reviews, supervises and guides the business departments on risk identification and assessment on a periodical or non-periodical basis, formulates and carries out the risk control measures and eliminates any risk potentials. (6) Data security control. The data security is guaranteed by comparatively independent operating

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) dependent, data and fax encryption, data redundant backup of data transmission lines, and application and guarantee of monitoring facilities. (7) Preparation and responses to emergencies. For the asset custody business, a special disaster recovery center is established to formulate the disaster recovery plan based on four levels which are data, application, operation and environment, and regular drills are organized for personnel. In order that the drills can be closer to the field scene, the Asset Custody Department shall constantly improve the standards for the drills from the initially drills at a specified time to current “random drills”. Seen from the result of the drills, the Asset Custody Department has full capability to recover the business within 2 hours in case of any disaster. 5. Internal risk control of the Asset Custody Department (1) The Asset Custody Department has set up the Supervisory and Compliance Department with specially-designated person in charge of supervision and compliance, who, under the direct leadership of the General Manager and in accordance with relevant laws and regulations, fully carry out the full monitoring and ensure the healthy and stable development of the asset custody business. (2) To complete the organizational structure and carry out total risk management. A perfect risk management system requires the involvement of every employee so that the risk control system and measures can be fully and effectively carried out. The Asset Custody Department has carried out total risk management to allocate the responsibility of risk control to specific business departments and positions so that every employee is in charge of the risks in his own position. By establishing an internal organizational structure of double-person system vertically and multiple-department horizontally, an organizational structure of mutual constraint and balance across different departments and positions has been formed. (3) To establish and improve the rules and regulations. The Asset Custody Department attaches great importance to the construction of internal control system, and has consistently integrated the concept and methods of risk prevention and control into the job responsibilities, system construction and working procedures. After years of efforts, the Asset Custody Department has set up a whole set of internal risk control system, including job responsibilities, operating procedures, supervisory and compliance system, and information disclosure system, covering all the departments and positions, being applied to all business procedures and forming mutually restricting system among businesses. (4) Internal risk control is always one of key emphasis of the Custody Department in work, maintaining the same status as business development. The asset custody business is the emerging intermediary business of commercial banks. Since the date of establishment, the Asset Custody Department has been placing great emphasis on the standardized operation and always been taking the establishment of systematic, efficient risk prevention and control system as the key work. Along with the changes in the market environment and the rapid development of the custody business, new challenges and situations have been constantly emerging. The Asset Custody Department has always placed risk management in the same important position as the business development, and considered the risk prevention and control as the lifeline for the survival and development of the custodian business. 27

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

VI. Methods and procedures for the Fund Custodian to supervise the Fund Manager over the fund operation

Pursuant to the Funds Law and the Fund Contract, the Custodian Agreement and relevant laws and regulations, the Fund Custodian shall supervise and check the legality of and ensure compliance by the Fund or the Fund Manager in relation to the investment scope and investment targets, the investment and financing ratio of the Fund, the prohibited investments of the Fund, the Fund's participation in the interbank bond market, the calculation of the Net Asset Value of the Fund, the calculation of the Net Asset Value per Unit of the Fund, the remittance of the receivables, expense and income of the Fund, the distribution of Fund Income, the disclosure of related information and the Fund's performance data in the Fund's marketing material, in which the supervision and check of the Fund’s investment ratio starts six months after the Fund Contract came into effect.

During the supervision and check by the Fund Custodian over the above matters, in the event that the Fund Custodian discovers that the Fund Manager violates the Funds Law, the Fund Contract, the Custodian Agreement of the Fund or other laws and regulations relevant to the Fund, the foregoing supervision provisions in respect of its actual investments and other provisions of laws and regulations, the Fund Custodian shall promptly notify the Fund Manager in writing for rectification within a specified time period; upon the receipt of such notice, the Fund Manager shall timely confirm, and send a reply as confirmation to the Fund Custodian in writing. Within such specified time period, the Fund Custodian shall have the right to review the matter above and supervise the correction of the Fund Manager. Where the Fund Manager fails to make corrections to breaches notified of within the period within the regular people, the Fund Custodian shall report the same to China Securities Regulatory Commission (CSRC).

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

§ 5 Related Service Agencies

5.1 Sales Institutions 5.1.1 Direct Sales Institution China Southern Asset Management Co., Ltd. Domicile and Office Address: 32/F-42/F, Fund Building, No. 5999 YiTian Road, LianHua Lu, Futian District, Shenzhen Legal Representative: Zhang Haibo Telephone No.: 0755-82763905, 82763906 Fax: 0755-82763900 Contact Person: Zhang Ruishan 5.1.2 Sales Agencies: The Distributing Banks of Class A Units of China Southern Selected Value Fund: No. Names of Sales Agencies Information of Sales Agencies Registered Address: No.55 Fuxingmennei Street, Xicheng District, Beijing Industrial and Commercial Bank Legal Representative: Chen Siqing 1 of China Limited Contact Person: Xie Yu Chen Customer Service Telephone No.: 95588 Website: www.icbc.com.cn Registered Address: No. 25 Finance Street, Xicheng District, Beijing Office Address, Building 1, No. 1 Naoshikou Street, Xicheng District, Beijing China Construction Bank Legal Representative: Tian Guoli 2 Corporation Telephone No.: 010-66275654 Fax: 010-66275654 Contact Person: Wang Jiashuo Customer Service Telephone No.: 95533 Website: www.ccb.com Registered Address: No.69, Jianguomennei Street, Dongcheng District, Beijing Agricultural Bank of China Office Address: No.69, Jianguomennei Street, 3 Limited Dongcheng District, Beijing Customer Service Telephone No.: 95599 Website: www.abchina.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 1 Fuxingmennei Street, Xicheng District, Beijing Office address: No. 1, Fuxingmennei Street, 4 Bank of China Limited Xicheng District, Beijing Legal representative: Liu Liange Customer Service No.: 95566 Website: www.boc.cn

Registered address: No.188 Yincheng Middle Road, Pudong New District, Shanghai Office Address: No.188 Yincheng Middle Road, Pudong New District, Shanghai 5 Bank of Communications Co., Ltd Legal representative: Ren Deqi Contact: Wang Jing Phone: 021-58781234 Fax: 021-58408483 Customer Service No: 95559 Company website: www.bankcomm.com Registered Address: China Merchants Bank Building, No. 7088 Shennan Road, Shenzhen Legal Representative: Li Jianhong 6 China Merchants Bank Co., Ltd. Contact Person: Ji Pingwei Customer Service Telephone No.: 95555 Website: www.cmbchina.com Registered Address: No. 3 Finance Street, Xicheng District, Beijing Office Address: No. 3 Finance Street, Xicheng District, Beijing Postal Savings Bank of China 7 Legal Representative: Zhang Jinliang Co., Ltd. Contact Person: Wang Shuo Fax: (010) 68858057 Customer Service Telephone No.: 95580 Website: www.psbc.com Registered Address: No. 500 South Pudong Road, Pudong New Area, Shanghai Shanghai Pudong Development 8 Office Address: No. 12, Zhongshan Dong Yi Bank Co., Ltd. Road, Shanghai Legal Representative: Gao Guofu

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Wu Bin Telephone No.: 021-61618888 Customer Service Telephone No.: 95528 Website: www.spdb.com.cn Registered Address: North No. 9 Chaoyangmen Street, Dongcheng District, Beijing Office Address: Eastern Culture Building, North No. 9 Chaoyangmen Street, Dongcheng District, Beijing 9 China CITIC Bank Co., Ltd. Legal Representative: Li Qingping Contact Person: Feng Jing Telephone No.: 010-89937330 Customer Service Telephone No.: 95558 Website: http://bank.ecitic.com/ Registered Address: No. 713 East Dongfeng Road, Yuexiu District, Guangzhou Legal Representative: Wang Bin 10 China Guangfa Bank Co., Ltd. Telephone No.: 0571-96000888, 020-38322222 Customer Service Telephone No.: 400-830-8003 Website: www.cgbchina.com.cn Registered Office: No. 2 Fuxingmennei Street, Xicheng District, Beijing Office Address: No. 2 Fuxingmennei Street, Xicheng District, Beijing China Minsheng Banking Corp., Legal Representative: Hong Qi 11 Ltd Contact Person: Mu Ting Telephone No.: 010-58560666 Fax: 010-57092611 Customer Service Telephone No.: 95568 Website: www.cmbc.com.cn Registered Address: China Centre, No.25 Jia, No. 25 Main Taiping qiaoStreet, Xicheng District, Beijing Office Address: Everbright Center, No. 25 12 China Everbright Bank Co., Ltd. Taipingqiao Street, Xicheng District, Beijing Legal Representative: Li Xiaopeng Contact Person: Zhu Hong Telephone No.: 010-63636153

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax.: 010-63639709 Customer Service Telephone No.: 95595 Website: www.cebbank.com

Registered Address: No.154 Hudong Road, Fuzhou Office Address: No.154 Hudong Road, Fuzhou Legal Representative: Gao Jianping 13 Industrial Bank Co., Ltd. Contact Person: Li Bo Contact Telephone No.:021-52629999-218966 Customer Service Telephone No.:95561 Website: www.cib.com.cn Address: No. 5047 East Shennan Road, Shenzhen, Guangdong Legal Representative: Xie Yonglin 14 Ping An Bank Co., Ltd. Contact Person: Shi Yifan Contact Telephone No.: 021-50979384 Customer Service Telephone No.: 95511-3 Website: bank.pingan.com

Registered address: No. 22, Jianguomennei Street, Dongcheng District, Beijing Office address: No. 22, Jianguomennei Street, Dongcheng District, Beijing 15 Hua Xia Bank Co., Ltd. Legal representative: Li Minji Contact: Wang Zhefan Telephone: 010-85238890 Customer Service No: 95577 Website: www.hxb.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: No. 288 Qingchun Road, Hangzhou City, Zhejiang Province Office Address: No. 288 Qingchun Road, Hangzhou City, Zhejiang Province Legal representative: Shen Renkang 16 China Zheshang Bank Contact: Tang Yan Telephone: 0571-87659056 Customer Service No: 95527 Website: www.czbank.com

Registered address: No. 218, Haihe East Road, Hedong District, Tianjin Office Address: No. 218, Haihe East Road, Hedong District, Tianjin 17 China Bohai Bank Co., Ltd. Legal representative: Li Fuan Contact: Wang Hong Phone: 022-58316666 Fax: 022-58316569 Customer Service No: 95541 Website: www.cbhb.com.cn

Registered address: Hangzhou Bank Building, 46 Qingchun Road, Xiacheng District, Hangzhou Office Address: Hangzhou Bank Building, No. 46 Qingchun Road, Xiacheng District, Hangzhou 18 Bank of Hangzhou Co., Ltd. Legal representative: Chen Zhenshan Contact: Cai Jie Telephone: 0571-85109708 Customer Service No: 95398 Website: www.hzbank.com.cn

Registered address: No.168 Yincheng Middle Road, Pudong New District, Shanghai 19 Bank of Shanghai Co., Ltd. Office Address: No. 168, Yincheng Middle Road, Pudong New District, Shanghai Legal representative: Jin Yu Contact: Tang Zhengcheng

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Tel: 021-68475521 Customer Service No: 95594 Website: www.bosc.cn

Registered Address: Ground Floor, No. 17 A Financial Street, Xicheng District, Beijing Office Address: No. 17 C, Financial Street, Xicheng District, Beijing 20 Bank of Beijing Co., Ltd. Legal representative: Zhang Dongning Contact: Zhou Li Fax: 010-66225309 Customer Service No: 95526 Website: www.bankofbeijing.com.cn

Registered Address: No. 26 Zhonghua Road, Nanjing

Registered address: Building 2, Yard 1 South Street, Xicheng District, Beijing Beijing Rural Commercial Bank Office address: Building 2, Yard 1 South Street, 21 Co., Ltd. Xicheng District, Beijing Legal representative: Wang Jinshan Contact: Lu Juan Phone: 010-89198762 Customer Service No: 96198; 400-88-96198; 400- 66-96198 Website: www.bjrcb.com

Registered address: No. 25, Haigang Road, Zhifu District, Yantai City, Shandong Province 22 Yantai Bank Co., Ltd. Office Address: No. 25, Haigang Road, Zhifu District, Yantai City, Shandong Province Legal representative: Wu Mingli Contact: Wang Shuhua

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Phone: 0535-6699660 Fax: 0535-6699884 Customer Service Phone: 4008-311-777 Website: www.yantaibank.net

Registered Address: No. 26 Zhonghua Road, Nanjing Office Address: No. 26 Zhonghua Road, Nanjing 24 Bank of Jiangsu Co., Ltd Legal Representative: Xia Ping Contact Person: Zhang Hongwei Telephone No.: 025-58587036 Customer Service Telephone No.: 95319 Website: www.jsbchina.cn Registered Address: No. 21 Tiyu Road, Dongguan, Guangdong Office Address: No. 21 Tiyu Road, Dongguan, Guangdong 25 Bank of Dongguan Co., Ltd. Legal Representative: Lu Guofeng Contact Person: Zhu Jie Xia Contact Telephone No.: 0769-22865177 Customer Service Telephone No.: 956033 Website: www.dongguanbank.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: Huapu Building, No. 68, Hong Kong Middle Road, Shinan District, Qingdao City, Shandong Province Office Address: No. 6, Qinling Road, Laoshan District, Qingdao City, Shandong Province 26 Bank of Qingdao Co., Ltd. Legal representative: Guo Shaoquan Contact: Xu Weijing Telephone: 0532-68629925 Customer Service No: (Qingdao) 96588; (National) 400-66-96588 Website: www.qdccb.com

Registered address: No. 700 Ningnan South Road, Yinzhou District, Ningbo City, Zhejiang Province Office address: No.345 Ningdong Road, Yinzhou District, Ningbo City, Zhejiang Province 27 Bank of Ningbo Co., Ltd. Legal representative: Lu Huayu Contact: Hu Jixun Telephone: 0574-89068340 Customer Service No: 95574 Website: www.nbcb.com.cn

Registered address: No. 288, Zhongshan Road, Xuanwu District, Nanjing Office address: No. 288, Zhongshan Road, Xuanwu District, Nanjing Legal representative: Hu Shengrong 28 Bank of Nanjing Co., Ltd. Contact: Zhao Shiguang Telephone: 025-86775305 Customer Service No: 95302 Website: www.njcb.com.cn

Registered Address: No. 336 Yimeng Road, Linyi, Shandong 29 Linshang Bank Co., Ltd. Office Address: No. 37 Beijing Road, Lanshan District, Linyi, Shandong Province Legal Representative: Qian Jin

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Tian Yu Contact Telephone No.: 0539-8160669 Customer Service Telephone No.: 400-699-6588 Website: www.lsbchina.com

Registered Address: Wuhan Commercial Bank Building, No. 933 Jianshe Avenue, Jianghan District, Wuhan Office Address: Wuhan Commercial Bank Building, No. 933 Jianshe Avenue, Jianghan District, Wuhan 30 Hankou Bank Co., Ltd. Legal Representative: Chen Xinmin Contact Person: Zhou Tian Contact Method: 027-82656785 Customer Service Telephone No.: 96558(Wuhan) ､40060-96558 (nationwide) Website: www.hkbchina.com Registered Address: No. 66 Middle Renmin Road, Yangshe Town, Zhang Jia Gang Office Address: No. 66 Middle Renmin Road, Yangshe Town, Zhangjiagang Jiangsu Rural Commercial Bank 31 Legal Representative: Wang Zhizhong of Zhangjiagang Co., Ltd Contact Person: Shi Yuanyuan Contact Telephone No.:0512-56968212 Customer Service Telephone No.: 0512-96065 Website: www.zrcbank.com Registered Address: No. 196, Station Avenue, Wenzhou Office Address: No. 196, Station Avenue, Wenzhou 32 Bank of Wenzhou Co., Ltd. Legal Representative: Xing Zengfu Contact Person: Chen Hao Contact Telephone No.: 0577-88996129 Customer Service Telephone No.: 0577-96699 Website: www.wzbank.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 153 Zourong Road, Yuzhong District, Chongqing Office Address: No. 153 Zourong Road, Yuzhong District, Chongqing Legal Representative: Gan Weimin 33 Bank of Chongqing Co Ltd Contact Person: Kong Wenchao Telephone No.: 023-63799379 Fax: 023-63792412 Customer Service Telephone No.: 400-70-96899 Website: www.cqcbank.com Registered Address: Cooperative Finance Building, No. 3038 East Shennan Road, Luohu District, Shenzhen, Guangdong Province Office Address: Cooperative Finance Building, No. 3038 East Shennan Road, Luohu District, Rural Commercial Bank of Shenzhen, Guangdong Province 34 Shenzhen Co., Ltd. Legal Representative: Li Guangan Contact Person: Chang Zhiyong Contact No.:0755-25188781 Fax: 0755-25188785 Customer Service Telephone No.: 4001961200 Website: www.4001961200.com Registered Address: No. 2 East Hongfu Road, Dongcheng District, Dongguan, Guangdong Province Office Address: Dongguan Commercial Bank Building, No. 2 East Hongfu Road, Dongcheng Rural Commercial Bank of District, Dongguan 35 Dongguan Co., Ltd Legal Representative: Wang Yaoqiu Contact Person: Li Ziqing Telephone No.:0769-22866143 Fax: 0769-22866282 Customer Service Telephone No.: 0769-961122 Website: www.drcbank.com Registered Address: No. 160 Shangzhi Avenue, Daoli District, Harbin 36 Harbin Bank Co., Ltd. Office Address: No. 888 Shangjiang Avenue, Daoli District, Harbin

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: Guo Zhiwen Contact Person: Li Zhibei Telephone No.:0451-87792450 Fax: 0451-87792682 Customer Service Telephone No.: 95537, 400-60- 95537 Website: www.hrbb.com.cn Registered Address: No. 8 North Xinhua Road, Urumqi Office Address: No. 8 North Xinhua Road, Urumqi Legal Representative: Yang Li 37 Urumqi Bank Co., Ltd. Contact Person: Yu Ge Telephone No.: 0991-4525212 Fax: 0991-8824667 Customer Service Telephone No.: 0991-96518 Website: www.uccb.com.cn Registered Address: No. 30 Zhujiang Road East Road, Tianhe District, Guangzhou Office Address: No. 30 Zhujiang Road East Road, Tianhe District, Guangzhou Legal Representative: Yao Jianjun 38 Bank of Guangzhou Co., Ltd Contact Person: Tang Hui Telephone No.:020-28302742 Fax: 020-28302021 Customer Service Telephone No.: 020-96699 Website: www.gzcb.com.cn Registered Address: No. 28 North Pingan Avenue, Shijiazhuang, Hebei Office Address: No. 28 North Pingan Avenue, Shijiazhuang, Hebei Legal Representative: Qiao Zhiqiang 39 Bank of Hebei Co., Ltd Contact Person: Zheng Xiafang Telephone No.: 0311-67807030 Fax: 0311-88627027 Customer Service Telephone No.: 400-612-9999 Website: www.hebbank.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 88 Zhongshan Road, Zhongshan District, Dalian, Liaoning Office Address: No. 88 Zhongshan Road, Zhongshan District, Dalian, Liaoning Legal Representative: Cui Lei 40 Bank of Dalian Co., Ltd. Contact Person: Bu Shuhui Telephone No.: 0411-82311936 Fax: 0411-82311731 Customer Service Telephone No.: 400-664-0099 Website: www.bankofdl.com Registered Address: Tower A, Tianhui Building, No.79 Anqing Road, Hefei, Anhui Office Address: Tower A, Tianhui Building, No. 79 Anqing Rood, Hefei Legal Representative: Li Hongming Contact Person: Ye Zhuowei 41 Huishang Bank Co., Ltd. Telephone No.:0551-62667635 Fax: 0551-62667684 Customer Service Telephone No.: 4008896588(Outside Anhui Province)､ 96588(Within Anhui Province) Website: www.hsbank.com.cn Registered Address: No. 2 Yongcui Road, Daliang Dehe Resident Committee, Shunde District, Foshan Office Address: No. 2 Yongcui Road, Daliang Dehe Resident Committee, Shunde District, Guangdong Shunde Rural Foshan 42 Commercial Bank Company Legal Representative: Yao Zhenyong Limited Contact Person: Chen Suying Telephone No.:0757-22385879 Fax: 0757-22388235 Customer Service Telephone No.: 0757-22223388 Website: www.sdebank.com Registered Address: No.15 Youyi Road, Hexi District, Tianjin 43 Bank of Tianjin Co., Ltd. Office Address: No.15 Youyi Road, Hexi District, Tianjin

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: Li Zongkang Contact Person: Li Yan Telephone No.:022-28405684 Fax: 022-28405631 Customer Service Telephone No.: 4006-960296 Website: www.bank-of-tianjin.com Registered Address: No. 10 East Yanghe Road, Jiangbei District, Chongqing Office Address: No. 10 East Yanghe Road, Jiangbei District, Chongqing Chongqing Rural Commercial Legal Representative: Liu Jianzhong 44 Bank Co., Ltd. Contact Person: Fan Liang Telephone No.:023-67637962 Fax: 023-67637909 Customer Service Telephone No.: 023-966866 Website: www.cqrcb.com Registered Address: No. 668 Guangnan Road, Jinhua, Zhejiang Province Office Address: No. 668 Guangnan Road, Jinhua, Zhejiang Province Legal Representative: Xu Yaqing 45 Bank of Jinhua Co., Ltd Contact Person: Chen Xiuduan Telephone No.:0579-82178271 Fax: 0579-82178321 Customer Service Telephone No.: 400-711-6668 Website: www.jhccb.com.cn Registered Address: No. 1 Huaxia Road, Zhujiang New Town, Tianhe District, Guangzhou Office Address: No. 1 Huaxia Road, Zhujiang New Town, Tianhe District, Guangzhou Guangzhou Rural Commercial Legal Representative: Wang Jikang 46 Bank Co., Ltd. Contact Person: Liu Qiang Telephone No.: 020-22389067 Fax: 020-22389031 Customer Service Telephone No.: 95313 Website: www.grcbank.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 1346 Jida Jiuzhou Avenue, Zhuhai, Guangdong Province Office Address: No. 1346 Jida Jiuzhou Avenue, Zhuhai, Guangdong Province Legal Representative: Liu Xiaoyong Contact Person: Li Yang 47 China Resource Bank Co., Ltd Telephone No.:96588 (For calls outside Guangdong Province: Add 0756) Fax: 0755-82811423 Customer Service Telephone No.: 96588 (For calls outside Guangdong Province: Add 0756 ), 4008800338 Website: www.crbank.com.cn Registered Address: No. 668 Middle Yanning Road, Tianning District, Changzhou Office Address: No. 668 Middle Yanning Road, Tianning District, Changzhou Jiangsu Jiangnan Rural Legal Representative: Lu Xiangyang 48 Commercial Bank Co., Ltd Contact Person: Bao Jing Telephone No.:0519- 80585939 Fax: 0519-89995066 Customer Service Telephone No.: 96005 Website: www.jnbank.cc Registered Address: No. 1817 Dongnan Hu Road, Changchun, Jilin Province Office Address: No. 1817 Dongnan Hu Road, Changchun, Jilin Province Legal Representative: Zhang Baoxiang 49 Bank of Jilin Co., Ltd Contact Person: Sun Qi Telephone No.: 0431-84999627 Fax: 0431-84992649 Customer Service Telephone No.: 400-88- 96666(Nationwide)96666(Jilin Province) Website: www.jlbank.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 99 Middle Jianguo Road, Hangzhou Office Address: No. 99 Middle Jianguo Road, Hangzhou Hangzhou United Rural Legal Representative: Xhang Hailin 50 Commercial Bank Co., Ltd Contact Person: Shi Panfeng Telephone No.:0571-87923324 Fax: 0571-86415596 Customer Service Telephone No.: 96592 Website: www.urcb.com Registered Address: No. 1, Peijiang Road, Nanchong, Sichuan Office Address:No. 258 Xiadong Avenue, Jinjiang District, Chengdu, Sichuan 51 Sichuan Tianfu Bank Co. Ltd. Legal Representative: Xing Min Contact Person: Zhou Naiyong Telephone No.: 028-67676033 Customer Service Hotline: 400-16-96869 Website: www.tf.cn Registered Address: Commercial Bank Building, No. 101 North Hubin Road, Xiamen Office Address: Commercial Bank Building, No. 101 North Hubin Road, Xiamen Legal Representative: Wu Shiqun 52 Xiamen Bank Co., Ltd. Contact Person: Sun Yu Telephone No.: 0592-5310251 Fax: 0592-5373973 Customer Service Telephone No.: 400-858-8888 Website: www.xmbankonline.com Registered Address: No. 9 Baoquan Road, Weihai Office Address: Block D Olympic Sports Financial Center, Jingshi Road, Jinan city Weihai City Commercial Bank Legal Representative: Tan Xianguo 53 Co., Ltd Contact Person: Wu Fang Telephone No.: 0531-68978175 Fax: 0531-68978176 Customer Service Telephone No.: Within the

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

same province 96636, Domestic 4000096636 Website: www.whccb.com/www.whccb.com.cn

Registered Address: No. 168, Sanxing Avenue, Taiping Street, Wenling City, Zhejiang Province, China Office Address: No. 19 Yinhai Road, Shouguang, Shandong Province Hanjia International Building, NO.8, Dangui Zhejiang Mintai Commercial Street, Jianggan District, Hangzhou, Zhejiang 54 Bank Co., Ltd. Province, China Legal Representative: Jiang Jian Fa Contact Person: Shen Sinuo Telephone No.:0571-81915575 Fax: 0571-81915577 Customer Service Telephone No.: 95343 Website: www.mintaibank.com Registered Address: No. 555 Yongning West Road, Yongzhong Avenue, Longwan District, Wenzhou City, Zhejiang Province Office Address: No. 555 Yongning West Road, Yongzhong Avenue, Longwan District, Wenzhou City, Zhejiang Province Zhejiang Wenzhou Longwan 55 Legal Representative: Liu Shao Yun Rural Commerical Bank Co. Ltd. Contact Person:Hu Jun Jie Telephone No.:0577-86923223 Fax:0577-86921250 Customer Service Telephone No.:4008296596 Website: www.lwrcb.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 1363 Diyang Road, Xingke Bridge, Shaoxing, Zhejiang Office Address: No. 1363 Diyang Road, Xingke Bridge, Shaoxing, Zhejiang Office Address: No. 1363 Diyang Road, Xingke Bridge, Shaoxing, Zhejiang Zhejiang Shaoxing Ruifeng Rural Office Address: No. 1363 Diyang Road, Xingke 56 Commercial Bank Co., Ltd. Bridge, Shaoxing, Zhejiang Legal Representative: Zhang Weidong Contact Person: Zhu Jiangliang Telephone No.: 0575-81103096 Fax: 0575-84788167 Customer Service Telephone No.: 4008896596 Website: www.borf.cn Registered Address: 60 Gaoxin Road, Xi’an, Shanxi, China Office Address: 60 Gaoxin Road, Xi’an, Shanxi, China Legal Representative: Guo Jun 57 Bank of Xi’an Co., Ltd. Contact Person: Bai Zhi Telephone No.:029-88992881 Fax: 029-88992891 Customer Service Telephone No.: 4008696779 Website: www.xacbank.com Registered address: 728 Zhongyuan Road, Industrial Park District, Suzhou, Jiangsu Province Office Address: 728 Zhongyuan Road, Industrial Park District, Suzhou, Jiangsu Province Legal Representative: Wang Lanfeng 58 Bank of Suzhou Co., Ltd. Contact Person:Wu Jun Telephone No.: 0512-69868373 Fax: 0512-69868373 Customer Service Telephone No.: 96067 Website: www.suzhoubank.com Registered address: No. 59Changfeng Street, XiaoDianDistrict, Taiyuan City, Shanxi Province 59 Jinshang Bank Company Limited Office Address: No. 59 Changfeng West Street, XiaoDian District, Taiyuan City, Shanxi ProvinceLegal Representative: Yan Junsheng

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Wei Yixin Telephone No.: 0351-6819926 Fax: 0351-6819926 Customer Service Telephone No.: 9510-5588 Website: www.jshbank.com Registered address: Jiezuo Building,828 Furong Road South Section 1, Tianxin District, Changsha, Hunan Province Office Address: Jiezuo Building,828 Furong Road South Section 1, Tianxin District, Changsha,

Hunan Province 60 Huarong Xiangjiang Bank Co., Legal Representative: Zhang Yonghong Ltd. Contact Person: Lu Jiaorong Telephone No.: 0731-89828182 Fax: 0731- 89828806 Customer Service Telephone No.:0731-96599 Website: www.hrxjbank.com.cn.cn Registered Address: No. 436 Youyi Road, Daoli District, Harbin, Heilongjiang Office Address: No. 436 Youyi Road, Daoli District, Harbin, Heilongjiang Legal Representative: Zhang Jianhui 61 Longjiang Bank Co., Ltd Contact Person: Yan Yong Telephone No.: 0451-85706107 Fax: 0451-85706036 Customer Service Telephone No.: 4006458888 Website: www.lj-bank.com Registered Address: No. 7, Century Avenue, Karamay, Uygur Office Address: Tower B, No. 1, Financial Street, Xicheng District, Beijing Legal Representative: Yan Hong 62 Kunlun Bank Co., Ltd. Contact Person: Zhang Bihua Telephone No.: 010-89026813 Fax: 010-89025421 Customer Service Telephone No.: 4006696569 Website: http://www.klb.cn 63 Guangdong Nanyue Bank Co., Registered Address: No. 60 Leshan Avenue,

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Ltd. Economic and Technological Development Area, Zhanjiang City, Guangdong Province

Office Address: 30/F, Baoli Centre, No. 5 Linjiang

Boulevard, New Zhujiang City, Guangdong

Province

Legal Representative: Jiang Dan Contact Person: Chen Jing Telephone No.: 020-28099040 Fax: 0759-2631600 Customer Service Telephone No.: 4000961818 Website: http://www.gdnybank.com Registered address: No. 8, Gongyuan North Road, Lingui District, Guilin Office Address: No. 8, Gongyuan North Road, Lingui District, Guilin Legal representative: Wu Dong Contact: Li Yushan 64 Guilin Bank Co., Ltd. Phone: 0773-3876895 Fax: 0773-3851691 Customer Service No: 400-86-96299 Website: www.guilinbank.com.cn

Registered Address: No. 3, Yunlu Road, Fengze District, Quanzhou, Fujian Office Address: No. 3, Yunlu Road, Fengze District, Quanzhou, Fujian Legal Representative: Fu Zineng 65 Bank of Quanzhou Co., Ltd. Contact Person: Xie Ting Feng Telephone No.: 0595-22551071 Fax: 0595-22578871 Customer Service Telephone No.: 96312 Website: http://www.qzccbank.com/ Registered Address: No. 88, Middle Kehua Road, Wuhou District, Chengdu, Sichuan Chengdu Rural Commercial Bank 66 Office Address: No. 88, Middle Kehua Road, Co, Ltd. Wuhou District, Chengdu, Sichuan Legal Representative: Chen Ping

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Yang Qi Telephone No.: 028-85315412 Fax: 028-85190961 Customer Service Telephone No.: 95392 Website: http://www.cdrcb.com/ Registered Address: Room 10101, Unit 1, Building 1, No. 13, 4th Gaoxin Road, New and High- technology Industry Development Zone, Xi’an Office Address: No. 13, New and High-technology Industry Development Zone, Xi’an 67 Chang’an Bank Co., Ltd. Legal Representative: Mao Yashe Contact Person: Yan Shi Fax: 029-88609566 Customer Service Telephone No.: (029)96669/400-05-96669 Website: www.ccabchina.com Registered Address: No. 68, Technology Road, Songshan New Area, Jinzhou, Liaoning Office Address: No. 68, Technology Road, Songshan New Area, Jinzhou, Liaoning Legal Representative: Zhang Wei 68 Bank of Jinzhou Co., Ltd. Contact Person: Pang Lulu Telephone No.: 0416-3220085 Fax: 0416-3220186 Customer Service Telephone No.: 400-66-96178 Website: www.jinzhoubank.com Registered Address: No. 99, West Bole Road, Chengnan Street, Yueqing, Zhejiang Office Address: No. 99, West Bole Road, Chengnan Street, Yueqing, Zhejiang Zhejiang Yueqing Rural Legal Representative: Gao Jianfei 69 Commercial Bank Contact Person: Jin Xiaoqiao Telephone No.: 0577-61566028 Fax: 0577-61566063 Customer Service No.: 4008896596 Website: www.yqbank.com Registered Address: No. 77, North Zhonghua 70 Bank of Guiyang Co., Ltd. Road, Guiyang, Guizhou

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Office Address: Building 1-6, East District, Financial Business District, Zhongtian Convention and Exhibition City, Changling North Road, Guanshanhu District, Guiyang City, Guizhou Provinc Legal Representative: Chen Zhongquan Contact Person: Chen Nan Telephone No.: 0851-86858673 Fax: 0851-86851953 Customer Service No.: 40011-96033 Website: http://www.gyccb.cn Registered Address: No. 1266, East Sanba Road, Dezhou, Shandong Office Address: No. 1266, East Sanba Road, Dezhou, Shandong Legal Representative: Sun Yuzhi 71 Dezhou Bank Co. Ltd. Contact Person: Wang Fangzhen Telephone No.: 0534-2297326 Fax: 0534-2297327 Customer Service No.: 40084-96588 Website: www.dzbchina.com Registered Address: No. 5139, East Shengli Road, Weifang, Shandong Office Address: No. 5139, East Shengli Road, Weifang, Shandong Legal Representative: Guo Huying 72 Bank of Weifang Co., Ltd. Contact Person: Wang Kongqing Telephone No.: 0536-8986635 Fax: 0536-8986637 Customer Service No.: 400-61-96588 Website: www.bankwf.com Registered Address: No. 188 Nanguan Avenue, Luqiao District, Taizhou, Zhejiang Office Address: No. 59 East Wangjiang Road, Zhejiang Tailong Commercial 73 Shangcheng District, Hangzhou, Zhejiang Bank Co., Ltd. Legal Representative: Wang Jun Contact Person: Chen Yanyu Telephone No.: 0571-87788979

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 0571-87788818 Customer Service No.: 400-88-96575 Website: www.zjtlcb.com Registered address: No. 72 Nanyuan Avenue of Nan Yuan Road, Yuhang District, Hangzhou City, Zhejiang Province Office Address: No. 72 Nanyuan Avenue of Nan Yuan Road, Yuhang District, Hangzhou City, Zhejiang Hangzhou Yuhang Rural Zhejiang Province 74 Commercial Bank Company Legal Representative: Lai Yubiao Limited Contact Person: Cai Liang Telephone No.: 0571-86209980 Fax: 0571-86137150 Customer Service Telephone No.: 96596, 4008896596 Website: www.yhrcb.com Registered address: Block 1 No. 501 Yijiang Road of Lushan Avenue, Fuyang District, Hangzhou city Office Address: Block 1 No. 501 Yijiang Road of Lushan Avenue, Fuyang District, Hangzhou city Zhejiang Fuyang Rural 75 Legal Representative: Ding Songmao Commercial Bank Co., Ltd Contact Person: Chen Shuo Telephone No.: 0571-63280253 Fax: 0571-63360418 Customer Service Telephone No.: 4008896596 Website: www.fyrcbk.com Registered Address: No. 105 Jinjing Avenue, Zhangdian District, Zibo, Shangdong Office Address: No. 105 Jinjing Avenue, Zhangdian District, Zibo, Shangdong Legal Representative: Gao Chuanyong 76 Qishang Bank Co., Ltd. Contact Person: Jiao Pu Telephone No.: 0533-2178888-9907 Fax: 0533-6120373 Customer Service Telephone No.: 96588 Website: www.qsbank.cc 77 Zhejiang Xiaoshang Rural Registered Address: No. 258 Renmin Road,

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Commercial Bank Co., Ltd. Xiaoshan District, Hangzhou Office Address: No. 258 Renmin Road, Xiaoshan District, Hangzhou Legal Representative: Wang Yunlong Contact Person: Zhu Guangfeng Telephone No.: 0571-82739513 Fax: 0571-82739513 Customer Service Telephone No.: 96596 Website: http://www.zjxsbank.com Registered Address: No. 109 East Hongkong Road, Laoshan District, Qingdao City, Shandong Province Office Address: No. 109 East Hongkong Road, Laoshan District, Qingdao City, Shandong Province Qingdao Rural Commercial Bank 78 Legal Representative: Liu Zhongsheng Co., Ltd. Contact Person: Li Hongjiao Telephone No.: 0532-66957228 Fax: 0532-85933730 Customer Service Telephone No.: 96668 (Qingdao); 400-11-96668 (National) Website: www.qrcb.com.cn Registered Address: No. 88 West Minhui Road, Yinzhou District, Ningbo City Office Address: No. 88 West Minhui Road, Yinzhou District, Ningbo City Ningbo Yinzhou Rural Legal Representative: Zhou Jianbin 79 Commercial Bank Co., Ltd. Contact Person: Zhu Nihong Telephone No.: 0574-87412569 Fax: 0574-87412811 Customer Service Telephone No.: 96561 Website: www.beeb.com.cn Registered Address: International Building 8, Hanjie Headqaurters, No. 86 Zhongbei Road, Shuiguohu Street, Wuchang District, Wuhan City 80 Hubei Bank Corporation Limited Office Address: International Building 8, Hanjie Headqaurters, No. 86 Zhongbei Road, Shuiguohu Street, Wuchang District, Wuhan City

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: Liu Zhigao Contact Person: Li Xinya Telephone No.: 027-87139129 Fax: 027-87139230 Customer Service Telephone No.: (Hubei) 96599; (National) 400-85-96599 Website: www.hubeibank.com Registered Address: No. 65 West Yingbin Street, Yuci District, Jinzhong City, Shanxi Province Office Address: No. 65 West Yingbin Street, Yuci District, Jinzhong City, Shanxi Province 81 Jinzhong Bank Co., Ltd. Legal Representative: Liu Haibin Contact Person: He Shasha Telephone No.: 18634889009 Customer Service Telephone No.: 95105678 Website: heep://www.jzbank.com

Registered address: No. 619 Changhong Avenue, Lianxi District, Jiujiang City, Jiangxi Province Legal representative: Liu Xianting Contact: Liu Xinhao 82 Bank of Jiujiang Co., Ltd. Phone: 0792-2190262 Fax: 0792-8325029 Customer Service No: 95316 Website: www.jjccb.com Registered Address: Block B Kailin Commercial Centre, 53 Binjiang Road, Yuelu District, Changsha, China Office Address: Block B Kailin Commercial Centre, 53 Binjiang Road, Yuelu District, Changsha, China Bank of Changsha Company 83 Legal Representative: Zhu Yu Guo Limited Contact Person: Yu Li Nuo Telephone No.: 0731-89736250 Fax: 0731-89736250 Customer Service Telephone No.: 40067-96511 Website: www.bankofchangsha.com

84 Standard Chartered Bank (China) Registered Address: Standard Chartered Bank

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Limited Building, No. 201 Century Avenue, Pudong New Area, Shanghai Municipality Legal Representative: Zhang Xiaolei

Customer Service Telephone No.: 400-888-8083 Website: http://www. www.sc.com/cn/ Registered address: Units 1301 and 1801, No, 1318 Lujiazui Ring Road, Pudong New Area, Shanghai Municipality Office Address: Units 1301 and 1801, No, 1318 Lujiazui Ring Road, Pudong New Area, Shanghai Municipality 85 DBS Bank (China) Limited Legal Representative: Ge Ganniu Contact Person: Wu Xinying Telephone No.: 021-38968359 Fax: 021-38968995 Customer Service Telephone No.: 400-820-8988 Website: www.dbs.com.cn

Securities sales agencies and other sales agencies of Class A Units of China Southern Selected Value Fund:

No. Names of Sales Agencies Information of Sales Agencies Registered Address: No. 228, Middle Jiangdong Road, Nanjing Legal Representative: Zhou Yi 1 Huatai Securities Co., Ltd. Contact Person: Pang Xiaoyun Contact Telephone No.: 0755-82492193 Customer Service Telephone No.: 95597 Website: www.htsc.com.cn Registered Address: No. 268 Hudong Road, Fuzhou Office Address: No. 36 Changliu Road, Pudong 2 Industrial Securities Co., Ltd. New District, Shanghai Legal Representative: Yang Huahui Contact Person: Qiao Linxue Contact Telephone No.: 021-38565547

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Telephone No.: 95562 Website: www.xyzq.com.cn

Registered Address: 16-26/F, Guoxin Zhengquan Mansion, No. 1012 Middle Hongling Road, Luohu District, Shenzhen Office Address: 16-26/F, Guoxin Zhengquan Mansion, No. 1012 Middle Hongling Road, Luohu District, Shenzhen 3 Guosen Securities Co., Ltd. Legal Representative: He Ru Contact Person: Li Ying Telephone No.: 0755-82130833 Fax.: 0755-82133952 Customer Service Telephone No.: 95536 Website: www.guosen.com.cn Registered Address: 2-6/F, No. 35 Finance Street, Xicheng District, Beijing Office Address: 2-6/F, No. 35 Finance Street, Xicheng District, Beijing Legal Representative: Chen Gongyan 4 China Galaxy Securities Co., Ltd. Contact Person: Xin Guozheng Contact Telephone No.: 010-83574507 Customer Service Telephone No.: 4008-888-888 or 95551 Website: www.chinastock.com.cn Registered Address: No. 618 Shangcheng Road, Free Trade Pilot Zone (Shanghai), China Office Address: Guotai Junan Building, 768 Nanjing West Road, Jing'an District, Shanghai Legal representative: He Qing 5 Guotai Junan Securities Co., Ltd.

Contact Person: Rui Minqi Telephone No.: 021-38676666 Customer Service Telephone No.: 4008888666 Website: www.gtja.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 86 Jingqi Road, Shizhong District, Jinan Office Address: No. 86 Jingqi Road, Shizhong District, Jinan, Shandong Legal Representative: Li Wei 6 Zhongtai Securities Co., Ltd. Contact Person: Xu Manhua Telephone No.: 021-20315290 Fax: 021-20315137 Customer Service Telephone No.: 95538 Website: www.zts.com.cn Registered Address: No. 689, Guangdong Road, Shanghai Office Address: No. 689, Guangdong Road, Shanghai Legal Representative: Zhou Jie 7 Haitong Securities Co., Ltd. Telephone No.: 021-23219000 Fax: 021-23219100 Contact Person: Li Xiaoming Customer Service Telephone No.: 95553 Website: www.htsec.com Registered Address: 4/F, No. 66 Anli Road, Chaoyang District, Beijing Office Address: No. 188 Inner Chaoyang Gate Avenue, Beijing 8 China Securities Co., Ltd. Legal Representative: Wang Changqing Contact Person: Liu Chang Contact No.:010-65608231 Customer Service Telephone No.: 4008888108 Website: www.csc108.com Registered Address: Room 618, No. 2 Tengfei First Street, Zhongxin Guangzhou Zhishicheng, Huangpu District, Guangzhou City Office Address: GF Securities Tower, 26 Machang 9 Guangfa Securities Co., Ltd. Road,, Tianhe District, Guangzhou City Legal Representative: Sun Shuming Contact Person: Huang Lan Customer Service Telephone No.: 95575, 020- 95575 or call or business outlets throughout the

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

country Website: http://www.gf.com.cn

Registered address: Floor 10-19, South Tower, Energy Building, 2026 Jintian Road, Futian Street, Futian District, Shenzhen Office Address: Floor 10-19, South Tower, Energy Building, 2026 Jintian Road, Futian Street, Futian Greatwall Securities Co., Ltd. District, Shenzhen 10 Legal representative: Ding Yi Contact: Ji Yuling Telephone: 0755-83516289 Customer Service No: 0755-33680000 4006666888 Website: www.cgws.com

Registered Address: No.111, FuWahYiLu, Futian District, Shenzhen Office Address: 23/F, China Merchants Securities Building, No.111, FuWahYiLu, Futian District, Shenzhen China Merchants Securities Co., 11 Legal Representative: Huo Da Ltd. Contact Person: Huang Chanjun Contact Telephone No.: 0755-82960167 Customer Service Telephone No.: 95565､ 4008888111 Website: www.newone.com.cn Registered Address: North Tower, Times Square Excellence II, No. 8 Zhong Xin San Road, Futian District, Shenzhen City, Guangdong Province Office Address: CITIC Securities Building, No. 48 12 CITIC Securities Co., Ltd. Liangmaqiao Road, Chaoyang District, Beijing Legal Representative: Zhang Youjun Contact Person: Wang YiTong Contact Telephone No.: 010-60838888 Fax: 010-60833739

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Telephone No.: 95558 Website: www.cs.ecitic.com

Registered Address: 45/F, No.989 Changle Road, Xuhui District, Shanghai Office Address: 40/F, No.989 Changle Road, Xuhui District, Shanghai] Legal Representative: Li Mei Shenwan Hongyuan Securities 13 Contact Person: Chen Yu Co., Ltd. Telephone No.: 021-33389888 Fax: 021-33388224 Customer Service Telephone No.: 95523 or 4008895523 Website: www.swhysc.com Registered Address: No. 1508 XinZha Road, Jing'an District, Shanghai Office Address: No. 1508 XinZha Road, Jing'an District, ShanghaiLegal representative: Liu Everbright Securities Co., Ltd. Qiuming 14 Contact: Yu Jiang Contact Telephone No.: 021-22169999 Customer Service Telephone No.: 95525, 10108998 Website: www.ebscn.com Registered Address: Units 01, 02, 03, 05, 11, 12, 13, 15, 16, 18, 19, 20, 21, 22, 23. 4/F & 18-21/F, Building A, Rongchao Commerce Center, No. 6003 Yitian Road, Futian District, Shenzhen China CICC Wealth Management Office Address: 4/F&18-21/F, Building A, 15 Securities Company Limited Rongchao Commerce Center, No. 6003 Yitian Road, Futian District, Shenzhen Legal Representative: Gao Tao Contact Person: Wan Yulin Contact Telephone No.: 0755-82023442

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 0755-82026539 Customer Service Telephone No.: 400-600-8008､ 95532 Website: www.ciccwm.com

Registered Address: Rm 2005, 20/F, Dacheng International Building, No.358 Beijing South Road, Gaoxin District (New City District), Urumqi, Xinjiang Office Address: Rm 2005, 20/F, Dacheng International Building, No.358 Beijing South Shenwan Hongyuan Western Road, Gaoxin District (New City District), 16 Securities Co., Ltd. Urumqi, Xinjiang Legal Representative: Li Qi Telephone No.: 0991-5801913 Fax: 0991-5801466 Contact Person: Wang Huaichun Customer Service Telephone No.: 400-800-0562 Website: www.hysec.com Registered Office: 11/F, Block A, New South Commercial Centre, No. 198 Xiangfuzhong Street, TenShin District, Zhangsha Shi, Hunan

Office Address:11/F, Block A, New South

Commercial Centre, No. 198 Xiangfuzhong

Street, TenShin District, Zhangsha Shi, Hunan

Legal Representative: Sun YongXiang

Contact Person: Li Xin 17 Xiangcai Securities Co., Ltd. Contact Telephone No.: 021-38784580-8918 Customer Service Telephone No.: 95351 Website: www.xcsc.com Registered Office: Unit A02, 28/F&35/F, Anlian 18 Essence Securities Co., Ltd. Mansion, No. 4018 Jintian Road, Futian District, Shenzhen

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Office Address: 9/F, Tower 1, Fenghuang Building, Shennan Avenue, Futian District, Shenzhen Legal Representative: Huang Yanxun Contact Person: Chen Jianhong Contact Telephone No.: 0755-82825551 Customer Service Telephone No.: 4008001001 Website: www.essence.com.cn Registered Address: 20/F, Tower 1, Qingdao International Finance Plaza, No. 222 Shenzhen Road, Laoshan District, Qingdao Office Address: 5/F Longxiang Square East Wing, No. 28 Donghai West Road, Shinan CITIC Securities (Shandong) 19 District, Qingdao city, Shandong province Co., Ltd. Legal Representative: Jiang Xiaolin Contact Person: Jiao Gang Contact No.: 0531-89606166 Customer Service Telephone No.: 95548 Website: www.citicssd.com Registered Address: 39F, BOC Building, No. 200 Middle Yincheng Road, Pudong New District, Shanghai BOC International (China) Co., Legal Representative: Ning Min 20 Ltd. Contact Person: Wang Weizhe Contact No.:021-20328309 Customer Service Telephone No.: 4006208888 Website: www.bocichina.com Registered (Office) Address: Tower 1, Court No. 9, Naoshi Kou Avenue, Xicheng District, Beijing Legal representative: Xiao Lin Contact: Fu Ting 21 Cinda Securities Co., Ltd Contact No.: 010-63081000 Fax: 010-63080978 Customer Service Telephone No.: 95321 Website: www.cindasc.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 16/F – 18/F, Tower A, Minsheng Finance Center, No. 28 Inner Jianguo Gate Avenue, Dongcheng District, Beijing Office Address: 16/F – 20/F, Tower A, Minsheng Finance Center, No. 28 Inner Jianguo Gate Avenue, Dongcheng District, Beijing 22 Minsheng Securities Co., Ltd. Legal Representative: Feng Henian Contact Person: Hu Mengya Contact No.: 010-85127627

Customer Service Telephone No.: 95376 Website: www.mszq.com Registered Address: 22/F, 23/F and 25/F – 29/F, Tower 2, No. 318 South Zhongshan Road, Shanghai Office Address: 13/F, 21/F – 23/F and 25/F – 29/F, 32/F, 36/F, 39/F, 40/F, Tower 2, No. 318 23 Orient Securities Co., Ltd South Zhongshan Road, Shanghai Legal Representative: Pan Xinjun Contact Person: Hu Yueru Contact No.:021-63325888 Customer Service Telephone No.: 95503 Website: www.dfzq.com.cn Registered Address: No. 8 Financial Street, Xicheng District, Beijing Office Address: 12-18/F, PICC Tower, No. 18, North Chaoyangmen Street, Chaoyang District, Beijing 24 Huarong Securities Co., Ltd. Legal Representative: Zhang Haiwen Contact Person of Fund Business: Sun Yanbo Contact No.: 010-85556048 Fax: 010-85556088 Customer Service Telephone No.: 95390 Website: www.hrsec.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: Huaxi Securities Builiding, No. 198 Tianfu Second Street, Gaoxin District, Chengdu, Sichuan Province Office Address: Huaxi Securities Builiding, No. 198 Tianfu Second Street, Gaoxin District, 25 Huaxi Securities Co., Ltd. Chengdu, Sichuan Province Legal Representative: Yang Jiongyang Contact Person: Xie Guomei

Customer Service Telephone No.: 95584 Website: www.hx168.com.cn Registered Address: Changjiang Securities Building, No. 8 Xinhua Road, Wuhan Legal Representative: Li Xin Hua Contact Person: Li Boyu 26 Changjiang Securities Co., Ltd. Telephone No.:027-65799999 Fax: 027-85481900 Customer Service Telephone No.: 95579 or 4008-888-999 Website: www.95579.com Registered address: 406, Hedge Fund Center, Qianhai Shenzhen-Hong Kong Fund Town, No. 128 Guiwan 5th Road, Nanshan Street, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen Office Address: Floor 40-42, China Merchants Bank Building, Shennan Avenue, Futian District, 27 Century Securities Co., Ltd. Shenzhen Legal representative: Li Qiang Contact Person: Wang Wen Telephone: 0755-83199511 Customer Service No: 4008323000 Website: www.csco.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 6666 Shengtai Avenue, Changchun Office Address: No. 6666 Shengtai Avenue, Changchun 28 Northeast Securities Co., Ltd. Legal Representative: Li Fuchun Contact Person: An Yanyan Contact No.:0431-85096517 Customer Service Telephone No.: 95360 Website: www.nesc.cn Registered Address: 7/F, Jiushi Commercial Building, No. 213 Middle Sichuan Road, Wangpu District, Shanghai Office Address: 7/F, No. 213 Middle Sichuan Road, Wangpu District, Shanghai 29 Shanghai Securities Co., Ltd. Legal Representative: Li Junjie Contact Person: Shao Zhenzhen Contact No.: 021-53686888 Fax: 021-53686100 Customer Service Telephone No.: 4008918918 Website: www.shzq.com Registered Address: No. 56 Ganshui Road, Xiangfang District, Harbin, Heilongjiang Province Office Address: No. 833 Chuangxin 3rd Road, Songbei District, Harbin, Heilongjiang Province 30 Jianghai Securities Co., Ltd. Legal Representative: Zhao Hong Bo Contact Person: Jiang Zhiwei Telephone No.:0451-87765732 Fax: 0451-82337279 Customer Service Telephone No.: 956007 Website: www.jhzq.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 7/F – 9/F, No. 8 Taihu New Distrcit Finance 1st Street, Taihu New Town, Binhu District, Wuxi, Jiangsu Province Office Address: 7/F – 9/F, No. 8 Taihu New Distrcit Finance 1st Street, Taihu New Town, 31 Guolian Securities Co., Ltd. Binhu District, Wuxi, Jiangsu Province Legal Representative: Yao Zhiyong Contact Person: Qi Hao Contact No.:0510-82831662 Customer Service Telephone No.: 95570 Website: www.glsc.com.cn Registered Address: Jinyuan Center, No. 1 South Keyuan Road, Guancheng District, Dongguan, Guangdong Province Office Address: Jinyuan Center, No. 1 South Keyuan Road, Guancheng District, Dongguan, 32 Dongguan Securities Co., Ltd. Guangdong Province Contact Person: Li Rong Contact No.:0769-22115712 Fax: 0769-22115712 Customer Service Telephone No.: 95328 Website: www.dgzq.com.cn Registered Address: Room 101, No. 42 Economic and Technology Development Zone Second Avenue, Tianjin Office Address: No. 8 West Binshui Road, Nankai District, Tianjin Legal representative: An Zhiyong 33 Bohai Securities Co., Ltd. Contact: Wang Xing Phone: 022-28451922 Fax: 022-28451892

Customer Service Telephone No.: 400-651-5988 Website: www.ewww.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 16/F – 20/F, Rongchao Building, No. 4036 Jintian Road, Futian Central District, Shenzhen Office Address: 16/F – 20/F, Rongchao Building, No. 4036 Jintian Road, Ping An Securities Company Futian Central District, Shenzhen 34 Limited. Legal Representative: He ZhiJiang Contact Person: Wang Yang Contact No.: 021-38637436 Customer Service Telephone No.: 95511-8 Website: stock.pingan.com Registered Address: 9/F - 10/F, Guohua Investment Building, No.3 South Dongzhi Gate Avenue, Dongcheng District, Beijing Office Address: 9/F - 10/F, Guohua Investment Building, No.3 South Dongzhi Gate Avenue, Dongcheng District, Beijing 35 Guodu Securities Co., Ltd Legal Representative: Weng Zhenjie Contact Person: Huang Jing Telephone No.:010-84183333 Fax: 010-84183311-3389 Customer Service Telephone No.: 400-818-8118 Website: www.guodu.com Registered Address: No. 5 Xingyang Street, Suzhou Industrial Park District Office Address: No. 5 Xingyang Street, Suzhou Industrial Park District Legal Representative: Fan Li 36 Soochow Securities Co., Ltd. Contact Person: Lu Xiao Telephone No.:0512-62938521 Fax: 0512-65588021 Customer Service Telephone No.: 95330 Website: www.dwzq.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 19/F – 20/F, Main Tower, Guangzhou International Finance Center, No. 5 West Zhujiang Road, Tinahe District, Guangzhou Office Address: 19/F – 20/F, Main Tower, Guangzhou International Finance Center, No. 5 37 CITIC Securities Co., Ltd West Zhujiang Road, Tinahe District, Guangzhou Legal Representative: Hu Fuyun Contact Person: Liang Wei Contact No.: 020-88836999 Customer Service Telephone No.: 95396 Website: www.gzs.com.cn Registered Address: No. 3, 1/F, Building B, Juntai International, No. 1-1, Cagu Avenue, Liuwu New District, Lhasa, Tibet Office Address: 6/F, Huarong Building, No. 178 Mintian Road, Futian District, Shenzhen 38 Chinalin Securities Co., Ltd. Legal Representative: Lin Li Contact Person: Zheng Zhuo Contact No.: 0755-82707869 Customer Service Telephone No.: 400-188-3888 Website: www.chinalin.com Registered Address: No. 389 Middle Jiangdong Road, Nanjing, Jiangsu Province Office Address: No. 389 Middle Jiangdong Road, Nanjing 39 Nanjing Securities Co., Ltd Legal Representative: Bu Guoxun Contact Person: Wang Wanjun Contact No.: 025-58519523 Customer Service Telephone No.: 95386 Website: www.njzq.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 198 Tian’e Hu Road, Zhengwu Wenhua New District, Hefei, Anhui Province Office Address: Tower B1, Caizi Center, No. 198 Tian’e Hu Road, Zhengwu Wenhua New 40 Huaan Securities Co., Ltd. District, Hefei, Anhui Province Legal Representative: Zhang Hongtao Contact Person: Fan Chao Contact No.:0551-65161821 Customer Service Telephone No.: 95318 Website: www.hazq.com Registered Address: 9/F Hongta Building, No. 155-1, Beijing Road, Kunming, Yunnan Province Office Address: 9/F Hongta Building, No. 155- 1, Beijing Road, Kunming, Yunnan Province 41 Hongta Securities Co., Ltd. Legal Representative: Kuang Yulin Contact Person: Gao Guoze Contact No.:0871-63577946 Customer Service Telephone No.: 956060 Website: http://www.hongtastock.com Registered Address: 18/F, Guangda Bank Building, No. 18 Zizhu 7thStreet, Zhu Zi Lin 4th Road, Futian District, Shenzhen Office Address: 18/F, Guangda Bank Building, No. 18 Zizhu 7thStreet, Zhu Zi Lin 4th Road, 42 Yintai Securities Co., Ltd. Futian District, Shenzhen Legal Representative: Huang Bing Contact No.:0755-83706665 Customer Service Telephone No.: 4008-505-505 Website: www.ytzq.com Office Address: Zhexiang Securities Building, No.201 Wuxing Road, Jianggan District, 43 Zheshang Securities Co., Ltd. Hangzhou City Legal Representative: Wu Chenggen Contact Person: Chen Shanshan

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Telephone No.:021-80108643 Fax: 021-80106010 Customer Service Telephone No.: 95345 Website: www.stocke.com.cn

Registered Address: 57/F, No. 100, Century Avenue, China (Shanghai) Pilot Free Trade Zone Office Address: 57/F, No. 100, Century Avenue, China (Shanghai) Pilot Free Trade Zone Hwabao Securities Company 44 Legal Representative: Chen Lin Limited. Contact Person: Liu Wenchuan Telephone No.:021-20657517 Fax: 021-68408217-7517 Customer Service Telephone No.: 4008209898 Website: www.cnhbstock.com Registered Address: East Tower, Shanxi Internaitonal Trading Center, No. 69 West Shifu Street, Taiyuan, Shanxi Province Office Address: East Tower, Shanxi Internaitonal Trading Center, No. 69 West Shifu Street, Taiyuan, Shanxi Province 45 Shanxi Securities Co., Ltd. Legal Representative: Hou Wei Contact Person: Guo Yi Contact No.:0351-8686659 Customer Service Telephone No.: 400-666- 1618, 95573 Website: www.i618.com.cn Registered Address: 20/F, Investment Bank Building, No. 115 Fuhua First Road, Futian District, Shenzhen Office Address: 18/F, Investment Bank 46 First Capital Securities Co., Ltd. Building, No. 115 Fuhua First Road, Futian District, Shenzhen Legal Representative: Liu Xuemin Contact Person: Dan Jing

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact No.:0755-23838750 Customer Service Telephone No.: 95358 Website: www.firstcapital.com.cn

Registered Address: 7/F – 8/F, Xin Tian Di Building, No. 157 Wusi Road, Fuzhou Office Address: 18/F, China Merchants Bank Tower, No. 1088, Lujiazui Ring Road, Pudong New District, Shanghai Legal Representative: Huang Jinlin 47 Huafu Securities Co., Ltd. Contact Person: Wang Hong Telephone No.:021-20655183 Fax: 021-20655196 Customer Service Telephone No.: 96326(For calls from outside Fujian Province: please dial 0591 first) Website: www.hfzq.com.cn Registered Address: 21st - 22nd Floor, Hisense Southern Building, No. 1777 Chuangye Road, Nanshan District, Shenzhen Office Address: 21st - 22nd Floor, Hisense Southern Building, No. 1777 Chuangye Road, Nanshan District, 48 Zhongshan Securities Co., Ltd. Shenzhen Legal Representative: Lin Bing Cheng Contact Person: Luo Yilin Contact No.:0755-82570586 Customer Service Telephone No.: 95329 Website: www.zszq.com Registered Address: No. 13 Fuxing Road, Guilin, Guangxi Province Office Address: 3F, Guangda Bank Building, 49 Sealand Securities Co., Ltd. Zhujilin Fourth Road, Futian District, Shenzhen, Guangdong Province Legal Representative: He Chunmei Contact Person: Niu Mengyu

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Telephone No.: 0755-83709350 Fax: 0755-83704850 Customer Service Telephone No.: 95563 Website: http://www.ghzq.com.cn

Registered Address: No. 10 Business Outer Ring Road, Zhengdong New District, Zhengzhou Office Address: No. 10 Business Outer Ring Road, Zhengdong New District, Zhengzhou Legal Representative: Jian Mingjun 50 Central China Securities Co., Ltd. Contact Person: Cheng Yueyan, Li Panpan Telephone No.: 0371-69099882 Fax: 0371-65585899 Customer Service Telephone No.: 95377 Website: www.ccnew.com Registered Address: No. 8 Qiaobei Court, Jiangbei District, Chongqing Legal Representative: Liao QingXuan 51 Southwest Securities Co., Ltd. Contact Person: Zhou Qing Telephone No.:023-63786633 Customer Service Telephone No.: 4008096096 Website: www.swsc.com.cn Registered Address: 23/F-26/F, Zhuangjia Finance Building, No. 35 Zhiqiang Road, Qiaoxi District, Shijiazhuang, Hebei Province Office Address: 23/F-26/F, Zhuangjia Finance Building, No. 35 Zhiqiang Road, Qiaoxi District, Shijiazhuang, Hebei Province 52 Caida Securities Co., Ltd Legal Representative: Di Jianqiang Contact Person: Ma Hui Telephone No.:0311-66006342 Customer Service Telephone No.: Inside Hebei Province 95363; Outside Hebei Province 0311- 95363 Website: www.S10000.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 9/F, South Wing, No. 510 Caoyang Road, Putuo District, Shanghai Office Address: 26/F, Chengjian International Center, No.500 Fushan Road, Pudong New District, Shanghai 53 Tebon Securities Co., Ltd Legal Representative: Wu XiaoChun Contact Person: Liu Yi Telephone No.:021-68761616 Fax: 021-68767032 Customer Service Telephone No.: 4008888128 Website: www.tebon.com.cn Registered Address: 41/F, Building A, International Finance Building, No. 1619 Hong Gu Zhong Avenue, Hong Gu Tan New District, Nanchang Office Address: 35th Floor, Zhonghang Ziben Mansion, No. 2 Wangjing Dongyuan Si Qu, Chaoyang District, 54 AVIC Securities Co., Ltd. Beijing Legal Representative: Wang Xiao Feng

Contact: Ma Linyao Telephone: 010-59562532 Fax: 010-59562532 Customer Service Telephone No.: 95335 Website: http://www.avicsec.com/ Registered Address: No. 18 Meishan Road, Hefei, Anhui Province Office Address: Guoyuan Securities, Building A, Anhui International Finance Centre, No. 18 Meishan Road, Hefei, Anhui Province 55 Guoyuan Securities Co., Ltd Legal Representative: Cai Yong Contact Person: Mi Shuo Contact No.:0551-68167601 Customer Service Telephone No.: 95578 Website: www.gyzq.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: No. 1589, Zishi Road, Xinjian District, Nanchang City, Jiangxi Province Office Address: Bank of Beijing Building, No. 1115 Fenghuang Middle Avenue, Honggutan 56 Golden Sun Securities Co., Ltd New District, Nanchang City, Jiangxi Province Legal representative: Xu Lifeng Contact: Gu Wenchi Telephone: 0791-88250812 Customer Service Phone: 956080 Website: www.gszq.com Registered Address: 27/F – 28/F, Tower 2, Guomao Building, No. 1 Outer Jianguo Gate Avenue, Beijing Office Address: SK Building, No. A6 Outer China International Capital 57 Jianguo Gate Avenue, Beijing Corporation Limited Contact Person: Yang Hanyu Contact No.:010-65051166 Customer Service Telephone No.: 400-910-1166 Website: www.ciccs.com.cn Registered Address: 21/F, Tongcheng Central, No. 15 Yingbin Street, Chengqu District, Datong Office Address: F12, F13 Tower A, Shanxi World Trade Center, No. 111 Changzhi Road, Taiyuan, Shanxi Province 58 Datong Securities Co., Ltd Legal Representative: Dong Xiang Contact Person: Xue Jin Telephone No.:0351-4130322 Fax: 0351-4192803 Customer Service Telephone No.: 4007121212 Website: http://www.dtsbc.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: Units 3701-3717, Tower 4 and 5, Hua Yuan The Central, No. 36, Segment II of Xiang Jiang Zhong Lu, Tianxin District, Changsha City, Hunan Province Office Address: 40th Floor, Pangu Daguan Tower A, No. 27, Middle Road of North Fourth 59 Founder Securities Ring Road, Chaoyang District, Beijing Legal Representative: Shi Hua Contact Person: Cheng Bo Yi Telephone No.: 010-59355997 Customer Service Telephone No.: 95571 Website: www.foundersc.com Registered Address: 201, 501, 502, 1103, 1601- 1615, 1701-1716, Jiahua International Business Center, No. 15 Hangda Road, Hangzhou Office Address:201, 501, 502, 1103, 1601-1615, 1701-1716, Jiahua International Business Center, No. 15 Hangda Road, Hangzhou 60 Caitong Securities Co., Ltd Legal representative: Lu Jianqiang Contact: Cai Chizhou Telephone: 0571-87821867 Customer Service Telephone No.: 95336, 4008696336 Website: www.ctsec.com Registered Address: 18/F, Investment Plaza, No. 23 West Yanling Road, Changzhou, Jiangsu Province Office Address: Donghai Securities Building, 61 Donghai Securities Co., Ltd No. 1928 Dongfang Road, Pudong New District, Shanghai Legal representative: Qian Junwen Contact: Wang Yiyan Customer Service Phone: 95531; 400-8888- 588Website: www.longone.com.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: Room 10000, Building 8, No. 319 Dongxin Street, Xi’an, Shaanxi Province Office Address: Room 10000, Building 8, No. 319 Dongxin Street, Xi’an, Shaanxi Province, 62 Western Securities Co., Ltd. Legal Representative: Xu ChaoHui Contact Person: Liang Chenghua Telephone No.:029-87211526 Fax: 029-87211478 Customer Service Telephone No.: 95582 Website: http://www.westsecu.com/ Registered Address: 1501, 15/F, Building No.1, Court No. 99, North 3rd Ring West Road, Haiding District, Beijing Office Address: 1501, 15/F, Building No.1, Court No. 99, North 3rd Ring West Road, 63 New Times Securities Co., Ltd Haiding District, Beijing Legal Representative: Ye Shunde Contact Person: Tian Fangfang Contact No.:010-83561146 Customer Service Telephone No.: 95399 Website: www.xsdzq.cn Registered Address: 12/F & 15/F, Yinglan International Finance Center, No. 7 Finance Avenue, Xicheng District, Beijing Office Address: 12/F & 15/F, Yinglan International Finance Center, No. 7 Finance 64 UBS Securities Co., Ltd Avenue, Xicheng District, Beijing Legal Representative: Cheng Yisun Contact Person: Feng Shuang Contact No.:010-58328373 Customer Service Telephone No.: 400-887-8827 Website: www.ubssecurities.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 4/F, Securities Building, No. 36 Nanbao Road, Haikou Office Address: 17/F, Times Finance Center, No. 4001 Shennan Avenue, Shenzhen 65 Goldstate Securities Co., Ltd. Legal Representative: Wang Zuoyi Contact Person: Liu Ping Telephone No.:0755-83025693 Customer Service Telephone No.: 95372 Website: www.jyzq.cn Registered Address: 18/F – 19F, Block F, Gaode Zhidi Plaza, No. 11 East Jiangdong Road, Tianhe District, Guangzhou Office Address: 12F, Block E, Gaode Zhidi Plaza, No. 13 East Jiangdong Road, Tianhe 66 Wanlian Securities Co., Ltd. District, Guangzhou Legal representative: Luo Qincheng Contact: Gan Lei Telephone: 020-38286026 Customer Service No: 95322 Website: www.wlzq.cn Registered Address: No. 95 Genshang Street, Eastern City, Chengdu Office Address: No. 95 Genshang Street, Eastern City, Chengdu Legal Representative: Ran Yun 67 Sinolink Securities Co., Ltd. Contact: Du Jing, Li Jianping Telephone: 028-86690057 Fax: 028-86690126 Customer Service Telephone No.: 95310 Website: www.gjzq.com.cn

Registered Address: 26/F, Shuntian International Fortune Center, No. 80 Section 2 Middle Furong

68 Road, Changsha CaixinSecurities Co., Ltd Office Address: 26/F, Shuntian International Fortune Center, No. 80 Section 2 Middle Furong

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Road, Changsha Legal Representative: Liu Wan Chen Contact Person: Guo Jing Telephone No.: 0731-84403347 Customer Service Telephone No.: 95317 Website: www.cfzq.com Registered Address: 14/F, Block D, Dong Fang Jun Zuo, Chi Lei Chuan Avenue, Sai HanDistrict, Hohhot, Office Address: 14/F, Block D, Dong Fang Jun Zuo, Chi Lei Chuan Avenue, Sai Han District, 69 Hengtai Securities Co., Ltd Hohhot Legal Representative: Pang Jiemin Contact Person: Xiong Li Customer Service Telephone No.: 956088 Website: www.cnht.com.cn Registered Address: 21/F, Lanzhou Fortune Centre, No. 638 West Donggang Road, Chengguan District, Lanzhou Office Address: 19/F, No. 638 West Donggang Road, Chengguan District, Lanzhou 70 China Dragon Securities Co., Ltd Legal Representative: Chen Mu Yuan Contact Person: Fan Kun Telephone No.: 0931-4890208 Fax: 0931-4890628 Customer Service Telephone No.: 95368 Website: www.hlzq.com

Registered address: Room 20C-1, Building 1, China Phoenix Building, No.2008 Shennan Avenue, Fuzhong Community, Lianhua Street, Futian District, Shenzhen 71 China Fortune Securities Office Address: No. 8, Wanping South Road, Xuhui District, Shanghai Legal representative: Yu Yang Contact: Yang Lijuan Phone: 021-54967552

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 021-54967032 Customer Service Phone: 95323, 4001099918 Website: www.cfsc.com.cn

Registered Address: No. 18, South Xilin Road, Xincheng District, Hohhot, Inner Mongolia Office Address: 11/F, West Wing, Changan Xingrong Center, No. 1 Naoshikou Avenue, 72 Guorong Securities Co., Ltd. Xicheng District, Beijing Legal Representative: Zhang Zhihe Contact Person: Yu Zhewei Customer Service Telephone No.: 400-600-9839 Website: www.grzq.com Registered Address: 30/F – 31/F, Huaneng Building, Middle Shennan Road, Futian District, Shenzhen Office Address: 30/F – 31/F, Huaneng Building, Middle Shennan Road, Futian District, Shenzhen Yingda Securities Co., Ltd. 73 Legal Representative: Wu Jun Contact Person: Wang Xiaojing Contact No.:0755-83007336 Customer Service Telephone No.: 4000-188-688 Website: www.ydsc.com.cn Registered Address: 23A, Guangrong Street, Heping District, Shenyan Office Address: Brokerage Business Department, Stockren Securities, 4/F, 74 Stockren Securities Co., Ltd. Wanlicheng Crystal Tower, No. 121 South Wuma Road, Heping District, Shenyang Legal Representative: Ma Gongxun Contact Person: Li Honghao Telephone No.:024-23280806

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Telephone No.: 024-95346 Website: http://www.iztzq.com/

Registered Address: Unit 01, 47/F, Rongchao Economic and Trading Center Office, No. 4028 Jintian Road, Futian District, Shenzhen Office Address: Unit 01, 47/F, Rongchao Economic and Trading Center Office, No. 4028 Jintian Road, Futian District, Shenzhen 75 Minmetals Securities Co., Ltd. Legal Representative: Zhao Ligong Contact Person: Ma Guodong Telephone No.: 0755-82560892 Fax: 0755-82545500 Customer Service Telephone No.: 40018-40028 Website: www.wkzq.com.cn Registered Address: 38/F - 39/F, Dalian Futures Building, Block A Dalian International Finance Center, No. 129 Huizhan Road, Shahekou District, Dalian, Liaoning Province Office Address: 39/F, Dalian Futures Building, No. 129 Huizhan Road, Shahekou District, Dalian 76 Daton Securities Co., Ltd Legal Representative: Zhao Xi Contact Person: Xie Lijun Telephone No.: 0411-39991807 Fax: 0411-39991833 Customer Service Telephone No.: 4008-169-169 Website: www.daton.com.cn Registered address: 1st lobby and 3rd and 4th floors, west of the Radio and TV News Center, No. 55, Dongjiang 3rd Road, Jiangbei, Huizhou City Office Address: Building 6, Tianchang Park, South Hongjunying Road, Chaoyang District, 77 Yuekai Securities Co., Ltd. Beijing Legal representative: Yan Yibin Contact: Guo Qing Telephone: 010-64408842 Customer Service No: 95564 Company website: http://www.ykzq.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 12/F, 15/F, Block B, Xinsheng Building, No. 5 Finance Avenue, Xicheng District, Beijing Office Address: 12/F, 15/F, Block B, Xinsheng Building, No. 5 Finance Avenue, Xicheng District, Beijing 78 Dongxing Securities Co., Ltd. Legal Representative: Wei Qinghua Contact Person: Xia Rui Telephone No.: 010-66559079 Fax: 010-66555133 Customer Service Telephone No.: 95309 Website: www.dxzq.net Registered Address: 5/F, Block B, City Gate, No. 1 Jinye Road, Gaoxin District, Xi’an Office Address: 5/F, Block B, City Gate, No. 1 Jinye Road, Gaoxin District, Xi’an Legal Representative: Li Gang 79 Kaiyuan Securities Co., Ltd Contact Person: Zhang Meng Wei Telephone No.:029-88365805 Fax: 029-88365835 Customer Service Telephone No.: 95325 Website: www.kysec.cn Registered Address: 9/F – 11/F, Shaanxi Postal Information Building, No. 5 Tangyan Road, Xi’an, Shaanxi Province 80 China Post Securities Co., Ltd. Office Address: No.17, East Street, Entrance of Zhu City, Dongcheng District, Beijing Legal Representative: Ding Qiwen

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Ji Yali Telephone No.: 010-67017788-9104 Fax: 010-67017788-9696 Customer Service Telephone No.: 4008888005 Website: www.cnpsec.com

Registered Address: 18/F, Zhiyuan Building, No. 389 Qingnian Road, Kunming, Yunnan Province Office Address: Unit 3, Block D, Huayuan Enterprise Building, No. 9 North Beizhan Street, Xicheng District, Beijing 81 The Pacific Securities Co., Ltd Legal Representative: Li Zhangwei Contact Person: Wang Jing Telephone No.: 010-88695182 Fax: 010-88321763 Customer Service Telephone No.: 95397 Website: www.tpyzq.com Registered Address: 10/F, Chuanxin Building, No. 18 Section 2 South Renmin Road, Jinjiang District, Chengdu, Sichuan Province Office Address: 10/F, Chuanxin Building, No. 18 Section 2 South Renmin Road, Jinjiang China Hongxin Securities Co., District, Chengdu, Sichuan Province 82 Ltd Legal Representative: Wu Yuming

Contact Person: Zhang Jun Telephone No.: 010-64083702 Fax: 028-86199382 Customer Service Telephone No.:4008366366 Website: www.hxzq.cn Registered address: No. 49 Renao Road, Shenhe District, Shenyang Office Address: Hengxin Building Tower C, No. Wangxin Securities Company 83 49 Renao Road, Shenhe District, Shenyang Limited Legal Representative: Wang Ying Contact Person: Zhou Song Telephone No.:024-22955531

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 024-22955531 Customer Service Telephone No.: 400-618-3355 Website:www.wxzq.com

Registered Address: 4/F, Gaoke Building, No. 2, Guandongyuan Road, Donghu High-tech Development Area, Wuhan, Hubei Office Address: 48/F, Tower A, Poly Plaza, No. 99, Zhongnan Road, Wuchang District, Wuhan, Hubei 84 Tianfeng Securities Co., Ltd. Legal Representative: Yu Lei Contact Person: Wang Yawei Telephone No: 13971585665Fax: 027-87618863 Customer Service Telephone No.: 4008005000 or 95351 Website: www.tfzq.com Registered Address: Block E Desheng Shangcheng, No 115 Deshengmen Outer Street, Xicheng District, Beijing Office Address: Block E Desheng Shangcheng, No 115 Deshengmen Outer Street, Xicheng District,

85 Capital Securities Co., Ltd Beijing Legal Representative: Bi Jingsong Contact Person: Liu Yu Telephone No.: 010-59366070 Fax: 010-59366055 Customer Service Telephone No.: 400-620-0620 Website: www.sczq.com.cn Registered Address: 9/F, Gemdalep Plaza, ShenNanDa Road South, Futian District, Shenzhen City, Guangdong Province Office Address: 27th Floor, Zhongjian Fortune International Center, Building 3, Yard 5, Anding 86 Lianchu Securities Co., Ltd. Road, Chaoyang District, Beijing Legal representative: Lu Chunwei Contact: Zhang Wanting Phone: 010-86499765Fax: 010-86499401 Customer Service Telephone No.: 400-620-6868 Website: www.lczq.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 17/F, Block B, Zhonghai International Centre, No. 177 Jiaozi Avenue, Gaoxin District, Chengdu City, Pilot Free Trade Zone (Sichuan), China Office Address: 17/F, Block B, Zhonghai International Centre, No. 177 Jiaozi Avenue, China Chuancai Securities Co., Gaoxin District, Chengdu City, Pilot Free Trade 87 Ltd. Zone (Sichuan), China Legal Representative: Meng Jianjun Contact Person: Kuang Ting Telephone No.: 028-86583053 Fax 028-86583002 Customer Service Telephone No.: 95105118 Website: www.cczq.com Registered Address: 10 Buildings, International Headquarters City, Liuwu New District, Lhasa, Tibet Autonomous Region Office Address: Oriental Fortune Building, Jinzuo, No. 88 Wanping South Road, Xuhui District, Shanghai 88 East Money Securities Co., Ltd. Legal representative: Xu Weiqin Contact Person: Fu Jia Phone: 021-23586603 Fax: 021-23586860 Customer Service No: 95357 Website: http://www.18.cn Registered Address: 701, Block B, Fukai Building, No. 19 Finance Street, Xicheng District, Beijing Office Address: 5/F, Block C, No. 28 Outer Xinjiekou Avenue, Xicheng District, Beijing Legal representative: Lin Yixiang TX Investment Consulting Co., 89 Contact Person: Tan Lei Ltd Customer Service Telephone No.: 010-66045678 Fax: 010-66045518 Website: http://www.txsec.com Fund Website of the Company: http://jijin.txsec.com/

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 1/F, 2/F, 9/F, 11/F, 12/F, Building No. 1, No. 14 Guanghua Road, Jianguomenwai, Zhaoyang District, Beijing City Office Address: 15/F, Towercrest Plaza, No. 3 West Maizidian Road, Zhaoyang District, Beijing City China International Futures Co., Legal Representative: Wang Bing 90 Ltd. Contact Person: Xu Lijing Telephone No.: 010-65807848 Fax: 010-59539985 Customer Service Telephone No.: 95162, 400- 8888-160 Website: www.cifco.net Registered Address: 11-A/F, 8-B4/F, 9-B, C/F, Mingyi Floor, No. 11-B Pingjie Street, Shangzhan Building, No. 107 Zhongshan Road No. 3, Yuzhong District, Chongqing City Office Address: 11-A/F, 8-B4/F, 9-B, C/F, Mingyi Floor, No. 11-B Pingjie Street, Shangzhan Building, No. 107 Zhongshan Road No. 3, Yuzhong District, 91 China Securities Finance Co., Ltd. Chongqing City Legal Representative: Peng Wende Contact Person: Wan Lian Telephone No.: 021-68762007 Fax: 021-68763048 Customer Service Telephone No.: 400-8877-780 Website: www.cfc108.com Registered Address: Room 1301-1305, 13/F, 14/F, North Block, Zhuoyue Time Square (Phase II), No. 8 Zhongxin Road No. 3, Futian District, Shenzhen City Office Address: Room 1301-1305, 13/F, 14/F, North Block, Zhuoyue Time Square (Phase II), No. 8 92 CITIC Futures Co., Ltd. Zhongxin Road No. 3, Futian District, Shenzhen City Legal Representative: Zhang Hao Contact Person: Liu Hongying Telephone No.: 010-60833754 Fax: 021-60819988

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Telephone No.: 400-990-8826 Website: http://www.citicsf.com

Registered Address：Floor 16, Sunshine Insurance Finance Plaza, 360 Yinbin Road, Jiyang District, Sanya Shi, Hainan Office Address ： Floor 12, Kuntai International Building, 12 Chaoyangmenwai Avenue, Chaoyang Sunshine Life Insurance District, Beijing 93 Corporation Limited Legal Representative：Li Ke Contract Person：Wang Lei Telephone No: 010-85632771 Fax: 010-85632773 Customer Service No: 95510 Website: www.sinosig.com Registered Address: No. 258 Wuhu Road, Hefei City, Anhui Province Office Address: No. 258 Wuhu Road, Hefei City, Anhui Province Legal Representative: Wu Guohua 94 Huishang Futures Co., Ltd. Contact Person: Shen QianQian Telephone No.: 0551-62865899 Fax: 0551-62865899 Customer Service Telephone No.: 4008-878-797 Website: www.hsqh.net Registered Address: No. 50 Zhonghua Road, Qinhuai District, Nanjing City Office Address: No. 50 Zhonghua Road, Qinhuai District, Nanjing City 95 Holly Futures Co., Ltd. Legal Representative: Zhou JianqiuContact Person: Zhang Suyi Phone: 025-52278981 Fax: 025-52278733Customer Service Telephone

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

No.: 4008281288 Website: www.ftol.com.cn

Registered Address: Room 04, 29/F and 20/F, Lifeng Building, No. 761 DongFeng Street, Yuexiu District, Guangzhou Office Address: Room 04, 29/F and 20/F, Lifeng Building, No. 761 DongFeng Street, Yuexiu District, Guangzhou 96 Huatai Futures Co. Ltd Legal Representative: Wu ZuFang Contact Person: Zhang Huimin Telephone No.: 0755-23887931 Fax: 0755-82777490 Customer Service Telephone No.: 4006280888 Website: http://www.htfc.com Registered Address: Room 3724, No. 9, Lane 360, Feihong Road, Hongkou District, Shanghai Office Address:Block C No. 32 Qinghuangdao Road, Yangpu District, Shanghai Legal Representative: Wang Jingbo 97 Noah Upright Fund SalesCo., Ltd Contact Person: Li Juan Telephone No.: 021-80359127 Fax: 021-38509777 Customer Service Telephone No.: 400-821-5399 Website: www.noah-fund.com Registered address: Room 12-13, 4th Floor, Phase 1, HALO Plaza, No. 8, Liyuan Road, Sunxi Community, Sungang Street, Luohu District, Shenzhen Zhonglu Fund Sales Shenzhen 98 Co., Ltd. Office Address: Room 12-13, 4th Floor, Phase 1, HALO Plaza, No. 8, Liyuan Road, Sunxi Community, Sungang Street, Luohu District, Shenzhen

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: Xue Feng Contact Person: Gong Jiang Jiang Telephone No.:0755-33227950 Fax: 0755-33227951 Customer Service Telephone No.: 4006-788-887 Website: www.zlfund.cn and www.jjmmw.com Registered Address: No.41, 2/F, Building No. 26, No. 196 Ouyang Road, Hongkou District, Shanghai Office Address: Room 903 -906, Ordos International Building, No. 1118 South Pudong Road, Pudong New District, Shanghai ; 2/F, Building No. 26, No. 196 Ouyang Road (FCC 99 Shanghai Howbuy Fund Limited Bridge Creative Park), Hongkou District, Shanghai Legal Representative: Yang Wenbin Contact Person: Zhang Ru Telephone No.:021-20613999 Fax: 021-68596916 Customer Service Telephone No.: 400-700-9665 Website: www.ehowbuy.com Registered Address: Room 599, Block 3, No. 969 West Wenyi Road, Wuchang Avenue, Yuhang District, Hangzhou Office Address: 6/F, Tower B, Huanglong Time Ant (Hangzhou) Fund Sales Co., Square, No. 18, Wantang Road, Xihu District, 100 Ltd Hangzhou, Zhejiang Legal Representative: Zu Guo Ming Contact Person: Han Aibin Customer Service Telephone No.: 4000-766-123 Website: http://www.fund123.cn/ Registered Address: Room 220, Block 2, No. 526 Gaoxiang Road, Pudong New District, Shanghai Office Address: 11/F, No. 1267 Dongfang Road, Shanghai Changliang Fund Sales 101 Pudong New District, Shanghai Co., Ltd. Legal Representative: Zhang Yuewei Contact Person: Qiu Yan Fang Telephone No.:021-20691831

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 021-20691861 Customer Service Telephone No.: 400-820-2899 Website: www.erichfund.com Registered Address: 2/F, Building No. 2, No. 190, Longtian Road, Xuhui District, Shanghai Office Address: Jinzuo Building (East Fortune Building), No. 88 South Wanping Road, Xuhui District, Shanghai Shanghai Tiantian Fund Sales. Legal Representative: Qi Shi 102 Co., Ltd Contact Person: Pan Shi You Telephone No.:021-54509977 Fax: 021-64385308 Customer Service Telephone No.: 95021/ 4001818188 Website: www.1234567.com.cn Registered Address: No. 6 Anfu Street, Houshayu Town, Shunyi District, Beijing Office Address: 6/F, Posts and Teleommuncations Building, No. 1-15 Anyuan Road, Chaoyang Beijing MyFP Fund Investment 103 District, Beijing Consulting Co., Ltd. Contact: Wu Wenjia Telephone No: 010-59601338 Customer Service Phone: 4008188000 Website: www.myfund.com Registered Address: Room 903, Yuanmao Building, No. 1 West Wener Road, Hangzhou, Zhejiang Province Office Address: 4/F, Tonghuashun Building, No. 18, Tongshun Block, Wuchang Street, Yuhang Zhejiang Hexin Flush Fund Sales District, Hangzhou, Zhejiang Province 104 Co., Ltd Legal Representative: Wu Qiang Contact Person: Wu Qiang Telephone No.:0571-88911818 Fax: 0571-86800423 Customer Service Telephone No.: 4008-773-772 Website: www.5ifund.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No. 1103, 11/F, Block 1, No. 14 Guanghua Road, Outside Jianguo Gate, Chaoyang District, Beijing Office Address: 2/F, Zhongqi Building, No. 16 Guanghua Road, Chaoyang District, Beijing CIFCO Asset Management Co., 105 Legal Representative: Jiang Xin Ltd. Contact Person: Yin Qing Telephone No.:010-65807865 Fax: 010-65807864 Customer Service Telephone No.: 010-65807609 Website: http://www.cifcofund.com Registered Address: Room 908 9/F Block A No. 13 Wangjing Dongyuan District 4, Chaoyang District, Beijing Office Address: No. 04-08, 9/F, Tower A, Wangjing Puxiang Center, Chaoyang District, Beijing 106 Prolink Fund Co., Ltd. Legal Representative: Nie Wan Jun Contact Person: Li Yan Telephone No.: 010-59497361 Fax: 010-64788016 Customer Service Telephone No.: 400-012-5899 Website: www.zscffund.com Registered Address: 10/F, Fanli Building, No. 22 Chaowai Avenue, Chaoyang District, Beijing Office Address: 10/F, Fanli Building, No. 22 Chaowai Avenue, Chaoyang District, Beijing Hexun Information Technology 107 Legal Representative: Wang Li Co., Ltd. Contact Person: Chen Hui Hui Telephone No.:010-85657353Fax: 010-65884788 Customer Service Telephone No.: 4009200022 Website: licaike.hexun.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 1809, 15/F, Building No. 9, No. 88 Jianguo Road, Chaoyang District, Beijing Office Address: 1809, Block C, SOHO Modern City, No. 88 Jianguo Road, Chaoyang District, Beijing Yixin Puze Investment Advisory 108 Legal Representative: Rong Bing (Beijing) Co., Ltd. Contact Person: Wei Chen Telephone No.: 010-52413385 Fax: 010-85894285 Customer Service Telephone No.: 4006099200 Website: www.yixinfund.com Registered Address: Room1001, 10/F, Block 1, No. 45 (Jinchang Building) Dengyun Road, Gongshu District, Hangzhou Office Address: 13/F, Jincheng Group (Jinchang Building), No. 43 Dengyun Road, Gongshu Zhejiang King Grandchain Fund District, Hangzhou 109 Co., Ltd. Legal Representative: Xu Liyun Contact Person: Lai Shulan Telephone No.:0571-88337888 Fax: 0571-88337666 Customer Service Telephone No.: 400-068-0058 Website: www.jincheng-fund.com Registered Address: Room 1101, Gaodi Center, No. 9 Jianshe Road, Chenghua District, Chengdu, Sichuan Province Office Address: Room 1501, Pingan Finance Centre, No. 99 Dongdajie Street, Jinjiang District, Chenghua District, Chengdu, Sichuan Province 110 Fanhua Puyi Fund Co., Ltd. Legal Representative: Yu Haifeng Contact Person: Chen Jinhong Telephone No.:18591999779 Fax: 028-84252474-801 Customer Service Telephone No.: 400-8588588 Website: http://www.puyifund.cn

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: Units 06-10, 46/F, Block B, No. 8, Century Avenue, Pudong New District, Shanghai Office Address: Units 06-10, 46/F, Block B, No. 8, Century Avenue, Pudong New District, Shanghai Harvest Wealth Management Co., 111 Legal Representative: Zhao Xuejun Ltd. Contact Person: Jing Qi Telephone No.:021-20289890 Fax: 021-20280110 Customer Service Telephone No.: 400-021-8850 Website: www.harvestwm.cn Registered Address: Huarong Building, No. 178 Mintian Road, Futian District, Shenzhen Office Address: 7/F, Fuzhuo Building, No.28, Xuanwumenwai Street, Xicheng District, Beijing Shenzhen Newland Securities Legal Representative: Hong Hong 112 Investment Consultancy Co., Ltd. Contact Person: Wen Wen Telephone No.: 010-83363101 Fax: 010-83363072 Customer Service Telephone No.: 400-166-1188 Website: https://8.jrj.com.cn Registered Address: Room 5122, 5/F, No. 10 North Hongda Road, Economic and Technology Development Zone, Beijing Office Address: Room 3001 30/F SOHO Nexus Center, No. A19 Dongsanhuang North Road, Beijing Heng Tang Mingze Fund Chaoyang District, Beijing 113 Co., Ltd. Legal Representative: Zhou Bin Contact Person: Hou Yan Hong Telephone No.: 13910678503 Fax: 010-57756199 Customer Service Telephone No.: 4008980618 Website: www.chtwm.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 1008-1012, 9/F, Block 1, No. 6 Danleng Street, Haiding District, Beijing Office Address: 1008-1012, 9/F, Block 1, No. 6 Danleng Street, Haiding District, Beijing Beijing Qianjingcaifu Fund Sales 114 Legal Representative: Zhao Rongchun Co., Ltd. Contact Person: Li Chao Telephone No.:010-56200948Fax: 010-57569671 Customer Service Telephone No.: 400-893-6885 Website: www.qianjing.com Registered Address: Room 201, Block A, Qianhai Shenzhen-Hong Kong Cooperation Zone Integrated Office Building, No. 1 Liyumenjie Street, Qianwan Road No. 1, Qianhai Shenzhen- Hong Kong Cooperation Zone, Shenzhen Office Address: 15/F, Block 2, Shenzhen Kerry 115 ShenzhenYitou Fund Co., Ltd. Plaza, Shenzhen Legal Representative: Lei Fengchao Contact Person: Liang Feifei Telephone No.:0755-33043063 Customer Service Telephone No.: 4008955811 Website: www.yitfund.com Registered Address: Room 201, Building A, Administration Office Building of Qianhaishengang Cooperative Zone, No. 1, Liyumen Street, Qianwan 1st Road, Qianhaishengang Cooperative Zone, Shenzhen (located in Shenzhen city Qianhai Secretary of Commerce Co., Ltd.) Shenzhen Qianhai Huilian Fund 116 Office Address: 7D, Building No. 5, Dachong Co., Ltd. International Centre, No. 39 Tonggu Road, Nanshan District, Shenzhen Legal Representative: Xue Feng Contact Person: Jia Haixia Telephone No.: 0755-26900826 Switch to 804 Customer Service Telephone No.: 0755-26900826 Website: http://www.xiniujijin.com.cn

Beijing Chuangjin Qifu Fund Registered Address: 215A, Building No. 5, No. 31 117 Sales Co., Ltd. Minfeng Alley, Xicheng District, Beijing

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Office Address: Room 712, Tower A, Economic Daily Complex, No. 2 Baizhifang East Street, Xicheng District, Beijing Legal Representative: Liang Rong Contact Person: Wei Suqing Telephone No.: 010-66154828-8006 Fax: 010-63583991 Customer Service Telephone No.: 400-6262-818 Website: www.5irich.com Registered Address: Room 402, No. 8 Middle Yincheng Road, Pilot Free Trade Zone (Shanghai), China Office Address: 4/F, No. 8 Middle Yincheng Road, Pudong New District, Shanghai 118 Haiyin Fund Distribution Co., Ltd. Legal Representative: Gong Qiaoli Contact Person: Liu Hui Telephone No.:021- 60206991 Fax: 021-80133413 Customer Service Telephone No.: 400-808-1016 Website: www.fundhaiyin.com Registered Address: No.106-167, Building 2, Court 8, South Xingsheng Road, Miyun County, Beijing Office Address: Building 10, Shengshi Longyuan Guoshi Garden, Chaoyang District, Beijing Beijing Zhixin Fund Sales Co., Legal Representative: Wang Junhui 119 Ltd. Contact Person: Wu Peng Telephone No.: 010-56075718 Fax: 010-67767615 Customer Service Telephone No.: 4006-802-123 Website: http://www.zhixin-inv.com/ Registered address: Level 10-11 Building 1 on Road 428 of Yanggao South Road, Pudong, Shanghai Office Address: Level 10-11 Building 1 on Road 428 of Yanggao South Road, Pudong, Shanghai 120 DZH Fund Sales Co., Ltd. Legal Representative: Shen Jian Contact Person: Zhang Ting Telephone No.: 021-20219988（35374） Fax: 021-20219923

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Telephone No.: 021-20292031 Website: http://www.wg.com.cn

Registered Address: Room 310, 3/F, No. 277 Fute North Road, China (Shanghai) Pilot Free Trade Zone Office Address: 3/F, Block 8, No. 518, North Fuquan Road, Changning District, Shanghai Shanghai Liantai Fund Sales Co., 121 Legal Representative: Yan Bin Bin Ltd Contact Person: Chen Dong Telephone No.: 021-52822063 Fax: 021-52975270 Customer Service Telephone No.: 400-166-6788 Website: http://www.66liantai.com Registered Address: Rm 1033, No.5475 Yun Chuan Road, Baoshan District, Shanghai Office Address: 18 Floor, Pujiang International Finance Plaza, No. 1098 Dongdaming Road, Hongkou District, Shanghai 122 Shanghai Lide Fund Sale Legal Representative: Li Xingchun Co., Ltd. Contact Person: Chen Zi Ming

Telephone No.: 18516109631 Fax: 021-61101630 Customer Service Telephone No.: 95733Website: www.leadfund.com.cn Registered Address: 19/F, No. 100, South Zhongshan Road, Huangpu District, Shanghai Office Address: 19/F, Bund Square, No. 100 South Zhongshan Road, Huangpu District, Shanghai Legal Representative: Jin Ji 123 PnR Finance Ltd. Contact Person: Chen Yunhui Telephone No.: 021-33323999 Fax: 021-33323837 Customer Service Telephone No.: 400-821-3999 Website: http://tty.chinapnr.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: No.1501-1504, The First Plaza, No.2, Wanjiang Road, Siming Distrit, Xia’men Office Address: No.1501-1504, The First Plaza, No.2, Wanjiang Road, Siming Distrit, Xia’men Xiamen Xindingsheng Holdings 124 Legal Representative: Chen Hongsheng Co., Ltd. Contact Person: Liang Yunbo Telephone No.: 0592-3122716 Fax: 0592-3122701 Customer Service Telephone No.: 400-918-0808 Website: www.hotjijin.com/ Registered Address: Unit 9, 14/F, No. 1333, Lujiazui Ring Road, Pudong New District, Shanghai Office Address: 14/F, No. 1333, Lujiazui Ring Road, Pudong New District, Shanghai Shanghai Lujinsuo Fund Sales 125 Legal Representative: Wang Zhi Guang Co., Ltd. Contact Person: Ning Boyu Telephone No.: 021-20665952 Fax: 021-22066653 Customer Service Telephone No.: 4008219031 Company Website: www.lufunds.com Registered Address: 1/F, Building 5, No.4, Chegongzhuang Street, Xicheng District, Beijing Office Address: 703, No. 11 Jingrongjie Street, Xicheng District, Beijing Legal Representative: Xu Fuhe 126 Beijing Jia He Fund SalesCo., Ltd. Contact Person: Zhang Wei Telephone No.: 010-5086 6176 Fax: 010-5086 6173 Customer Service Telephone No.: 400-600-0030 Website: www.bzfunds.com Registered address: Room 1015, 10th Floor, No. 17, East Third Ring North Road, Chaoyang Beijing Hongdian Fund Sales District, Beijing 127 Co.,Ltd. Office Address: Room 1015, 10th Floor, No. 17, East Third Ring North Road, Chaoyang District, Beijing

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal representative: He Jing Contact: Wang Chongyang Telephone No.: 010-65951887 Customer Service Telephone No.: 400-618-0707

Website: www.hongdianfund.com Registered Address: Room 518, 5/F R & D Block of Sina Plaza, Lot N-1, N-2 Zhongguancun Software Park II (Westbound Extension), Wangxi Road, Haidian District, BeijingOffice Address: Building C, Ming Building, No. 3 East Courtyard, Beijing Sina Cangshi Fund Sales No. 10 North West Wangdong Road, Haidian 128 Co., Ltd. District, Beijing Legal representative: Zhao Xinrui Contact: Zhao Xinrui Phone: 010-62675768 Customer Service Telephone No.: 010-62675369 Website: http://www.xincai.com Registered Address: No. 3491, Room 105, No.6, Baohua Road, Hengqin New District, Zhuhai Office Address: Room 1201-1203, 12/F, South Tower, Poli International Plaza, No.1, East Pazhou Avenue, Haizhu District, Guangzhou Zhuhai Yingmi Fund & Sales 129 Legal Representative: Xiao Wen Co.,Ltd. Contact Person: Qiu Xiangxiang Telephone No.: 020-89629099 Fax: 020-89629011 Customer Service Telephone No.: 020-89629066 Website: www.yingmi.cn Registered Address: Unit 3203A, Zhongzhou Building, Jintian Road, Futianjiedao Avenue, Futian District, Shenzhen Office Address: Unit 3203A, Zhongzhou Building, Shenzhen Fuji Fund Distribution 130 Jintian Road, Futianjiedao Avenue, Futian District, Co., Ltd. Shenzhen Legal Representative: Liu Pengyu Contact Person: Liu Yong Telephone No.: 0755-83999907-8814

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 0755-83999926 Customer Service Telephone No.: 0755-83999907 Website: www. fujifund.cn Registered Address: Room 236, Building 2, No. 10, Baiquan Street, Yanqing Economic Development Zone, Yanqing County, Beijing Office Address: Room 1505, Block A, No. 19 Jianguomenwai Avenue, Chaoyang District, Beijing Tang Ding Yaohua Fund 131 Beijing Sales Co., Ltd. Legal Representative: Zhang Guan Yu Contact: Sun Shuhui Telephone No: 010-85932884 Customer Service Telephone No.: 400-819-9868 Website: http://www.tdyhfund.com/ Registered Address: Room 602-115, No.765, South Tibet Road, Huangpu District, Shanghai Office Address: 4/F, Kaishi Building, No.1, East Yan’an Road, Huangpu District, Shanghai Shanghai V. Stone Wealth Fund Legal Representative: Chen Jiwu 132 Sales Co.,Ltd. Contact Person: Gao Hao Hui Telephone No.: 021-63333389-230 Fax: 021-63333390 Customer Service Telephone No.: 4006-433-389 Website: www.vstonewealth.com Registered Address: Room 210, Modern Pentathlon Stadium, Nanjing Olympic Sports Centre, No. 222, Middle Jiangdong Road, Jianye District, Nanjing Office Address: 15/F, Dongfang Chunyi Building, No. 505, Eshan Road, Pudong New District, Datai Funds Investment and Shanghai 133 Management Co.,Ltd. Legal Representative: Yuan Guming Contact Person: Meng Zhaoshe Telephone No.: 15621569619 Fax: 021-20324199 Customer Service Telephone No.: 400-928- 2266/021-22267995 Website: www.dtfunds.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: Room 307, Floor 3, No. 1 Courtyard, No. 16 Taiyanggong Middle Road, Chaoyang District, Beijing Office Address: Ji’an Property, 46/F, Tower A, Property Center, No.7, Middle Dongsan Ring Ji’an Fortune (Beijing) Asset Road, Chaoyang District, Beijing 134 Management Co., Ltd. Legal Representative: Yang Jian Contact Person: Li Haiyan Telephone No.: 010-65309516 Fax: 010-65330699 Customer Service Telephone No.: 400-673-7010 Website: http://www.jianfortune.com Registered Address: Room 2-45, Building 2, No. 1, Dongguantou, Fengtai District, Beijing

Office Address: 5th Floor, Tower A, Global Financial Information Center, No. 1 Golden Bull (Beijing) Investment Xuanwumenwai Avenue, Xicheng District, Beijing 135 Consulting Co., Ltd. Legal representative: Qian Haomin Contact: Shen Chen Phone: 010-59336544 Fax: 010-59336586Customer Service Telephone No.: 4008-909-998 Website: www.jnlc.com Registered Address: Room 521, 5/F, Building No. 3, Taiyueyuan, Haidian District, Beijing Office Address: Room 521, 5/F, Building No. 3, Taiyueyuan, Haidian District, Beijing Ding Xin Hui Jin (Beijing) Legal Representative: Qi Lingfeng 136 Investment Management Co., Ltd. Contact Person: Ruan Zhiling Contact No.: 010-82050520 Fax: 010-82086110 Customer Service Telephone No.: 400-158-5050 Website: www.9ifund.com

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: 201, Building A, Qianwan 1st Road, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen Office Address: Block A, Building 7, Shenzhen Bay Science and Technology Ecological Park, 137 WeBank Co., Ltd. 1819 Shahe West Road, Nanshan District, Shenzhen Legal representative: Gu Min Customer Service Phone: 4009998877 Website: www.webank.com Registered Address: Room 1108, No. 11, Zhongguancun Street, Haidian District, Beijing Office Address: Room 1108, No. 11, Zhongguancun Street, Haidian District, Beijing Legal Representative: Wang Weigang 138 Beijing Success Fund Co., Ltd. Contact Person: Wang Xiao Xiao Contact No.: 010-56282140 Fax: 010-62680827 Customer Service Telephone No.: 4006199059 Website: www.hcjijin.com Registered address: No. 1-5 Suning Avenue, Xuanwu District, Beijing Office Address: No. 1-5 Suning Avenue, Xuanwu

Nanjing Sunning Fund Sales Co., District, Beijing Legal representative: Wang Feng 139 Ltd Contact: Zhang YunfeiTelephone No.: 025- 66996699-887226 Fax: 025-66996699 Customer Service Telephone No.: 95177 Website: www.snjijin.com Registered address: Room 605 6/F Block C No. 28 Xinjiekouwai Dajie, Xicheng New Area, Beijing Office Address: 19/F Tower B Puxiang Centre, Wangjing Dongyuan District 4, Chaoyang District, Beijing NiuNiu Fund Investment Beijing 140 Management Co., Ltd Legal Representative: Qi Jianhui Contact Person: Jiang Yinghua Telephone No.: 4006236060 Fax: 010-82055860 Customer Service Telephone No.: 4006236060

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Website: www.niuniufund.com

Registered address: Unit B 11/F No. 33 Fushan Road, China (Shanghai) Pilot Free Trade Zone Office Address: 11/F, Wande Building, No.1500 Puming Road, Pudong New District, Shanghai City Shanghai Wonder Fund Sales Co., 141 Legal Representative: Wang Tingfu Ltd. Contact Person: Xu Yadan Telephone No.: 021-50712782 Fax: 021-50710161 Customer Service Telephone No.: 400-821-0203 Website：www.520fund.com.cn Registered address: 222507, 21/F Unit 2 No. 6 Block, Court No 1 Futong East Street, Chaoyang District, Beijing Office Address: Room 1501, 15th Floor, Building 6, No. 34, Chuangyuan Road, Chaoyang District, Beijing Eggroll Fund Sales Co., 142 Beijing Ltd Legal representative: Zhong Feifei Contact: Hou Fangfang Phone: 010-61840688 Fax: 010-84997571 Customer Service Phone: 4001599288 Website: https://www.danjuanapp.com Registered address: Unit 103-1 and 103-2, Floor 1, No. 1 Building, No. 1257 Ming Yue Lu, No. 27 Jinqiao Road, China (Shanghai) Pilot Free Trade Zone Office Address: Unit 103-1 and 103-2, Floor 1, No.

Shanghai Yunwan Fund Sales Co., 1 Building, No. 1257 Ming Yue Lu,, No. 27 Jinqiao 143 Ltd Road, China (Shanghai) Pilot Free Trade Zone Legal Representative: Feng Yi Ming Contact Person: Wang Ning Telephone No.: 021-20538888 Fax: 021-20538999 Customer Service Telephone No.: 400-820-1515 Website: www.zhengtongfunds.com 98

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: Room 302 No. 2815 Longteng Avenue, Xuhui District, Shanghai Office Address: Room 302 No. 2815 Longteng Avenue, Xuhui District, Shanghai Shanghai Zhong Zheng Daguang 144 Legal Representative: Huang Xin Fund Sales Co., Ltd Contact Person: Dai Minwei Telephone No.: 021-33768132 Fax: 021-33768132-802 Customer Service Telephone No.: 400-6767-523 Website: www.zhongzhengfund.com Registered address: No. 699-1 Xuanwu Avenue, Xuanwu District, Nanjing Office Address: No. 699-1 Xuanwu Avenue, Xuanwu District, Nanjing Nanjing Tu Niu Fund Sales Co., 145 Legal Representative: Song Shilin Ltd Contact Person: He Jie Telephone No.: 025-86853969-66727 Customer Service Telephone No.: 4007-999-999 Website: http://jr.tuniu.com

Registered address: Room 6153 No. 2 Building, No. 1800 Old Panyuan Road, Changxing Town, Chongming County, Shanghai (Shanghai Taihe Economic Development Zone) Office Address: Room1002-1003, Block A, Beimei Shanghai Jiyu Fund Sales Co., 146 Plaza, No. 518 Kunming Road, Shanghai Limited Legal Representative: Wang Xiang Contact Person: Lan Jie Telephone No.: 021-35385521 Fax: 021-55085991 Customer Service Telephone No.: 400-820-5369 Website: www.jiyufund.com.cn Registered Address: Unit 1108, Floor 11, Tower 3, Block B, Kexing Science Park, No. 15 Keyuan Road, Hi-tech Park, Yuehai Street, Nanshan Shenzhen Jinfuzi Fund Sales Co., District, Shenzhen City 147 Ltd. Office Address: Unit 1108, Floor 11, Tower 3, Block B, Kexing Science Park, No.15 Keyuan Road, Hi-tech Park, Yuehai Street, Nanshan District, Shenzhen City

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: Lai Renjun Contact Person: Liu Xinxia Telephone No.: 0755-29330513 Fax: 0755-26920530 Customer Service Telephone No.: 400-9302-888 Website: www.jfzinv.com Registered address: No. 17 Bungalow 157, No. 12, Building Materials City Middle Road, Xisanqi, Haidian District, Beijing Office Address: 15th Floor, Block A, Jingdong Group Headquarters, No. 18, Kechuang 11th Street, Yizhuang Economic and Technological Beijing Kenterui Fortune Fund 148 Development Zone, Tongzhou District, Beijing and Sales Co., Ltd. Legal representative: Wang Suning Phone: 95118 Fax: 010-89189566 Customer Service Hotline: 95118 Company website: kenterui.jd.com

Registered Address: Room 268, 2/F, Block 1, No. 687 East Daming Road, Hongkou District, Shanghai City Office Address: 8/F, Tower B, Tongtai Building, No. 33 Finance Street, Xicheng District, Beijing City Shanghai China Wealth 149 Legal Representative: Mao Huaiping Investment Management Co., Ltd. Contact Person: Zhong Qiuyue Telephone No.: 010-88066632 Fax: 010-88066552 Customer Service Telephone No.: 400-817-5666 Website: www.amcfortune.com Registered Address: No. 1, 2, 20/F, Dong 1, Fuzhong International Plaza, No. 110-134 Xinhua Road, Nanming District, Guiyang City, Guizhou Province 150 Dahe Wealth Fund Sales Co., Ltd. Office Address: No. 1, 2, 20/F, Dong 1, Fuzhong International Plaza, No. 110-134 Xinhua Road, Nanming District, Guiyang City, Guizhou Province Legal Representative: Yu Di

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Contact Person: Pan Jian Telephone No.: 0851-88405605 Fax: 0851-88405602 Customer Service Telephone No.: 0851-88535678 Website: www.urainf.com Registered address: Room 04, 5th Floor, No. 799 Yanggao South Road, China (Shanghai) Pilot Free Trade Zone Office Address: Room 04, 5th Floor, No. 799 Yanggao South Road, China (Shanghai) Pilot Free Shanghai Wacai Financial Trade Zone 151 Information Services Co., Ltd. Legal representative: Lu Liuxia Contact: Zeng Yun Telephone No.: 021-50810687 Fax: 021-58300279 Customer Service Telephone No.: 021-50810673 Website: www.wacaijijin.com Registered Address: Room 503, Building No.6, Kangning Street North, East Dongfeng Road East, Zhengdong New District, Zhengzhou City Office Address: Room 503, Building No. 6, Kangning Street North, East Dongfeng Road East, Hegeng Chuancheng Fund Sales Zhengdong New District, Zhengzhou City 152 Co., Ltd. Legal Representative: Wang Xuan Contact Person: Hu Jinghua Telephone No.: 0371-85518396 Fax: 0371-85518397 Customer Service Telephone No.: 4000-555-671 Website: http://www.hgccpb.com/ Registered Address: Room 202, 2/F, Nuode Building, No.22 Titan Road, Shahekou District, Dalian City, Liaoning Province Office Address: Room 202, 2/F, Nuode Building, Dalian Wangjin Fund Sales Co., 153 No.22 Titan Road, Shahekou District, Dalian City, Ltd. Liaoning Province Legal Representative: Fan Huai Dong Customer Service Telephone No.: 4000-899-100 Website: http://www.yibaijin.com/

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered address: 222, 2nd Floor, Building 11, No. 2, Beibinhe Road, Guang'anmen, Xicheng District, BeijingOffice Address: Floor 9, Guotai Building, Aobei Science Park, Haidian District, Yilucaifu (Beijing) Fund Sales 154 Beijing, China Co., Ltd. Legal Representative: Wu Xuexiu Contact Person: Dong Xuan Telephone No.: 13520209651 Customer Service Telephone No.: 400-001-1566 Website: www.yilucaifu.com Registered Address：Room 201, Building A, No. 1 Qianwanyi Road, Shengang Cooperative District, Qianhai, Shenzhen, China Office Address：Floor 15, Tencent Binhai Tower, No. 33 Haitian 2nd Road, Nanshan District, 155 Tengan Fund Sales Co. Ltd. Shenzhen Legal Representative：Liu Ming Jun Contact Person：Tan Guang Feng Telephone No: 0755-86013388 (switch to 80618) Customer Service Telephone No: 95017 website：www.tenganxinxi.com Registered address: Room 103, 1st Floor, Building 4, West District, No. 10 Northwest Wangdong Road, Haidian District, Beijing Office Address: Building 4, West District, Yard 10, Beijing Baidu Baiying Fund Sales Northwest Wangdong Road, Haidian District, 156 Co., Ltd. Beijing Legal representative: Ge Xin Customer Service Telephone No.: 95055 Website: www.8.baidu.com Zip Code: 100085 Registered Address: No 47, Gutan Avenue, Economic Development Zone, Gaochun District, Jiangsu Huilin Fund Sales Co., 157 Nanjing, China Ltd. Office Address: Room 2005, Zifeng Building, Greenland, No. 2 Zhongshan North Road, Gulou

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

District, Nanjing Legal representative: Wu Yanlin Contact Person: Lin Yiling Telephone No: 025-66046166-810 Fax: 025-56878016 Customer Service No: 025-66046166 Website: www.huilinbd.com

Registered Address: No. 16, Financial Street, Xicheng District, Beijing, China Office Address: No. 16, Financial Street, Xicheng District, Beijing, China 158 China Life Insurance Co., Ltd. Official representative: Wang Bin Contact Person: Qin Zewei Telephone No: 010-63631539 Customer Service No: 95519 Website: www.e-chinalife.com Registered address: Room 1105, No.707 Zhangyang Road, China (Shanghai) Pilot Free Trade Zone Office Address: Room 1105, No.707 Zhangyang Xuan Yuan Insurance Agency Co., Road, China (Shanghai) Pilot Free Trade Zone 159 Ltd. Legal representative: Ma Yongzhi Contact: Lu Yabo Phone: 021-50701053 Fax: 021-50701053 Customer Service Phone: 400 080 8208 Website: www.licaimofang.cn Registered Address: 4th Floor, Area E, Fuxing City Internet Innovation and Entrepreneurship Park, No. 32 Binhai Avenue, Haikou City, Hainan Province Office Address: Building 18, Yard 18, Ziyue Road, Fenghuang Jinxin (Haikou) Fund Chaoyang District, Beijing 160 Sales Co., Ltd Legal representative: Zhang Xu Contact: Wang Ying Phone: 010-58160084 Fax: 010-58160181 Customer Service Phone: 400-810-5919

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Company website: www.fengfd.com Please refer to the website of the Fund Manager for details of other Sales 161 Agencies of the Fund.

Securities sales bank of Class C Unit of China Southern Selected Value Fund: Address: No. 5047 East Shennan Road, Shenzhen, Guangdong Legal Representative: Xie Yonglin 1 Ping An Bank Co., Ltd. Contact Person: Shi Yifan Contact Telephone No.: 021-50979384 Customer Service Telephone No.: 95511-3 Website: bank.pingan.com

Registered address: No. 70, Zhongshan East Second Road, Huangpu District, Shanghai Office Address: No. 70, Zhongshan East Second Road, Huangpu District, Shanghai Shanghai Rural Commercial Bank 2 Legal representative: Xu Li Co., Ltd. Contact: Shi Chuanrong Telephone: 021-61899999 Customer Service Phone: 021-962999, 4006962999 Website: www.srcb.com Registered Address: No. 26 Zhonghua Road, Nanjing Office Address: No. 26 Zhonghua Road, Nanjing Legal Representative: Xia Ping 3 Bank of Jiangsu Co., Ltd. Contact Person: Zhang Hongwei Telephone No.: 025-58587036 Customer Service Telephone No.: 95319 Website: www.jsbchina.cn Registered Address: No. 1, Peijiang Road, Nanchong, Sichuan Office Address:No. 258 Xiadong Avenue, 4 Sichuan Tianfu Bank Co. Ltd. Jinjiang District, Chengdu, Sichuan Legal Representative: Xing Min Contact Person: Zhou Naiyong Telephone No.: 028-67676033

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Customer Service Hotline: 400-16-96869 Website: www.tf.cn

Registered address: 728 Zhongyuan Road, Industrial Park District, Suzhou, Jiangsu Province Office Address: 728 Zhongyuan Road, Industrial Park District, Suzhou, Jiangsu Province 5 Legal Representative: Wang Lanfeng Bank of Suzhou Co., Ltd. Contact Person:Wu Jun Telephone No.: 0512-69868373 Fax: 0512-69868373 Customer Service Telephone No.: 96067 Website: www.suzhoubank.com Registered address: No.65, Yingbin West Street, Jinzhong City, Shanxi Province Office Address: No.65, Yingbin West Street, Jinzhong City, Shanxi Province 6 Bank of JinZhong Co., Ltd Legal Representative: Liu HaiBin Contact Person:Jia ShaSha Telephone No.: 18634889009 Customer Service Telephone No.: 9510-5678 Website: www.jzbank.com

Securities sales agencies and other sales agencies of Class C Unit of China Southern Selected Value Fund: Registered Address: No. 268 Hudong Road, Fuzhou Office Address: No. 36 Changliu Road, Pudong New District, Shanghai 1 Industrial Securities Co., Ltd. Legal Representative: Yang Huahui Contact Person: Qiao Linxue Contact Telephone No.: 021-38565547 Customer Service Telephone No.: 95562 Website: www.xyzq.com.cn Registered Address: 16-26/F, Guoxin Zhengquan Mansion, No. 1012 Middle Hongling Road, Luohu District, Shenzhen 2 Guosen Securities Co., Ltd. Office Address: 16-26/F, Guoxin Zhengquan Mansion, No. 1012 Middle Hongling Road, Luohu District, Shenzhen

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal Representative: He Ru Contact Person: Li Ying Telephone No.: 0755-82130833 Fax.: 0755-82133952 Customer Service Telephone No.: 95536 Website: www.guosen.com.cn Registered Address: 2-6/F, No. 35 Finance Street, Xicheng District, Beijing Office Address: 2-6/F, No. 35 Finance Street, Xicheng District, Beijing Legal Representative: Chen Gongyan 3 China Galaxy Securities Co., Ltd. Contact Person: Xin Guozheng Contact Telephone No.: 010-83574507 Customer Service Telephone No.: 4008-888-888 or 95551 Website: www.chinastock.com.cn Registered Address: No. 618 Shangcheng Road, Free Trade Pilot Zone (Shanghai), China Office Address: Guotai Junan Building, No. 768 Nanjing West Road, Jing'an District, Shanghai 4 Guotai Junan Securities Co., Ltd. Legal representative: He Qing Contact Person: Rui Minqi Telephone No.: 021-38676666 Customer Service Telephone No.: 4008888666 Website: www.gtja.com Registered Address: No. 86 Jingqi Road, Shizhong District, Jinan Office Address: No. 86 Jingqi Road, Shizhong District, Jinan, Shandong Legal Representative: Li Wei 5 Zhongtai Securities Co., Ltd. Contact Person: Xu Manhua Telephone No.: 021-20315290 Fax: 021-20315137 Customer Service Telephone No.: 95538 Website: www.zts.com.cn

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 4/F, No. 66 Anli Road, Chaoyang District, Beijing Office Address: No. 188 Inner Chaoyang Gate Avenue, Beijing 6 China Securities Co., Ltd. Legal Representative: Wang Changqing Contact Person: Liu Chang Contact No.:010-65608231 Customer Service Telephone No.: 4008888108 Website: www.csc108.com Registered Address: Room 618, No. 2 Tengfei First Street, Zhongxin Guangzhou Zhishicheng, Huangpu District, Guangzhou City Office Address: Guangfa Securities Building, No. 26 Machang Road, , Tianhe District, Guangzhou City 7 Guangfa Securities Co., Ltd. Legal Representative: Sun Shuming Contact Person: Huang Lan Customer Service Telephone No.: 95575, 020- 95575 or call or business outlets throughout the country Website: http://www.gf.com.cn

Legal representative: Ding Yi Contact: Ji Yuling Contact Telephone No.: 0755-83516289 Customer Service Telephone No.:0755-33680000 4006666888 Website: www.cgws.com

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: North Tower, Times Square Excellence II, No. 8 Zhong Xin San Road, Futian District, Shenzhen City, Guangdong Province Office Address: CITIC Securities Building, No. 48 Liangmaqiao Road, Chaoyang District, Beijing 9 CITIC Securities Co., Ltd. Legal Representative: Zhang Youjun Contact Person: Wang YiTong Contact Telephone No.: 010-60838888 Fax: 010-60833739 Customer Service Telephone No.: 95558 Website: www.cs.ecitic.com Registered Address: 45/F, No.989 Changle Road, Xuhui District, Shanghai Office Address: 40/F, No.989 Changle Road, Xuhui District, Shanghai] Legal Representative: Li Mei Shenwan Hongyuan Securities 10 Contact Person: Chen Yu Co., Ltd. Telephone No.: 021-33389888 Fax: 021-33388224 Customer Service Telephone No.: 95523 or 4008895523 Website: www.swhysc.com Registered Address: No. 1508 XinZha Road, Jing'an District, Shanghai Office Address: No. 1508 XinZha Road, Jing'an District, ShanghaiLegal representative: Liu Everbright Securities Co., Ltd. Qiuming 11 Contact Person: Yu Jiang Contact Telephone No.: 021-22169999 Customer Service Telephone No.: 95525, 10108998 Website: www.ebscn.com Registered Address: Units 01, 02, 03, 05, 11, 12, 13, 15, 16, 18, 19, 20, 21, 22, 23. 4/F & 18-21/F, China CICC Wealth Management Building A, Rongchao Commerce Center, No. 12 Securities Company Limited 6003 Yitian Road, Futian District, Shenzhen Office Address: 4/F&18-21/F, Building A, Rongchao Commerce Center, No. 6003 Yitian

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Road, Futian District, Shenzhen Legal Representative: Gao Tao Contact Person: Wan Yulin Contact Telephone No.: 0755-82023442 Fax: 0755-82026539 Customer Service Telephone No.: 400-600-8008､ 95532 Website: www.ciccwm.com Registered Address: Rm 2005, 20/F, Dacheng International Building, No.358 Beijing South Road, Gaoxin District (New City District), Urumqi, Xinjiang Office Address: Rm 2005, 20/F, Dacheng International Building, No.358 Beijing South Shenwan Hongyuan Western Road, Gaoxin District (New City District), 13 Securities Co., Ltd. Urumqi, Xinjiang Legal Representative: Li Qi Telephone No.: 0991-5801913 Fax: 0991-5801466 Contact Person: Wang Huaichun Customer Service Telephone No.: 400-800-0562 Website: www.hysec.com Registered Office: Unit A02, 28/F&35/F, Anlian Mansion, No. 4018 Jintian Road, Futian District, Shenzhen Office Address: 9/F, Tower 1, Fenghuang Building, Shennan Avenue, Futian District, 14 Essence Securities Co., Ltd. Shenzhen Legal Representative: Huang Yanxun Contact Person: Chen Jianhong Contact Telephone No.: 0755-82825551 Customer Service Telephone No.: 4008001001 Website: www.essence.com.cn

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 20/F, Tower 1, Qingdao International Finance Plaza, No. 222 Shenzhen Road, Laoshan District, Qingdao Office Address: 5/F Longxiang Square East Wing, No. 28 Donghai West Road, Shinan District, CITIC Securities (Shandong) Co., 15 Qingdao city, Shandong province Ltd. Legal Representative: Jiang Xiaolin Contact Person: Jiao Gang Contact No.: 0531-89606166 Customer Service Telephone No.: 95548 Website: www.citicssd.com Registered (Office) Address: Tower 1, Court No. 9, Naoshi Kou Avenue, Xicheng District, Beijing Legal Representative: Xiao Lin Contact Person: Fu Ting 16 Cinda Securities Co., Ltd Contact No.: 010-63081000 Fax: 010-63080978 Customer Service Telephone No.: 95321 Website: www.cindasc.com Registered Address: No. 8 Financial Street, Xicheng District, Beijing Office Address: 12-18/F, PICC Tower, No. 18, North Chaoyangmen Street, Chaoyang District, Beijing 17 Huarong Securities Co., Ltd. Legal Representative: Zhang Haiwen Contact Person of Fund Business: Sun Yanbo Contact No.: 010-85556048 Fax: 010-85556088 Customer Service Telephone No.: 95390 Website: www.hrsec.com.cn Registered address: 406, Hedge Fund Center, Qianhai Shenzhen-Hong Kong Fund Town, No. 128 Guiwan 5th Road, Nanshan Street, Qianhai Shenzhen-Hong Kong Cooperation Zone, 18 Century Securities Co., Ltd. Shenzhen Office Address: Floor 40-42, China Merchants Bank Building, Shennan Avenue, Futian District, Shenzhen

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Legal representative: Li Qiang Contact Person: Wang Wen Contact No.:0755-83199511 Customer Service Telephone No.: 4008323000 Website: www.csco.com.cn

Registered Address: No. 6666 Shengtai Avenue, Changchun Office Address: No. 6666 Shengtai Avenue, Changchun 19 Northeast Securities Co., Ltd. Legal Representative: Li Fuchun Contact Person: An Yanyan Contact No.:0431-85096517 Customer Service Telephone No.: 95360 Website: www.nesc.cn Registered Address: 7/F – 9/F, No. 8 Taihu New Distrcit Finance 1st Street, Taihu New Town, Binhu District, Wuxi, Jiangsu Province Office Address: 7/F – 9/F, No. 8 Taihu New Distrcit Finance 1st Street, Taihu New Town, 20 Guolian Securities Co., Ltd. Binhu District, Wuxi, Jiangsu Province Legal Representative: Yao Zhiyong Contact Person: Qi Hao Contact No.:0510-82831662 Customer Service Telephone No.: 95570 Website: www.glsc.com.cn Registered Address: Room 101, No. 42 Economic and Technology Development Zone Second Avenue, Tianjin Office Address: No. 8 West Binshui Road, Nankai District, Tianjin 21 Bohai Securities Co., Ltd. Legal representative: An Zhiyong Contact: Wang Xing Phone: 022-28451922 Fax: 022-28451892Customer Service Telephone No.: 400-651-5988 Website: www.ewww.com.cn

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 16/F – 20/F, Rongchao Building, No. 4036 Jintian Road, Futian Central District, Shenzhen Office Address: 16/F – 20/F, Rongchao Building, No. 4036 Jintian Road, Futian Ping An Securities Company Central District, Shenzhen 22 Limited. Legal Representative: He ZhiJiang Contact Person: Wang Yang Contact No.: 021-38637436 Customer Service Telephone No.: 95511-8 Website: stock.pingan.com Registered Address: 9/F - 10/F, Guohua Investment Building, No.3 South Dongzhi Gate Avenue, Dongcheng District, Beijing Office Address: 9/F - 10/F, Guohua Investment Building, No.3 South Dongzhi Gate Avenue, Dongcheng District, Beijing 23 Guodu Securities Co., Ltd Legal representative: Weng Zhenjie Contact Person: Huang Jing Telephone No.:010-84183333 Fax: 010-84183311-3389 Customer Service Telephone No.: 400-818-8118 Website: www.guodu.com Registered Address: No. 5 Xingyang Street, Suzhou Industrial Park District Office Address: No. 5 Xingyang Street, Suzhou Industrial Park District Legal Representative: Fan Li 24 Soochow Securities Co., Ltd. Contact Person: Lu Xiao Telephone No.:0512-62938521 Fax: 0512-65588021 Customer Service Telephone No.: 95330 Website: www.dwzq.com.cn

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 19/F – 20/F, Main Tower, Guangzhou International Finance Center, No. 5 West Zhujiang Road, Tinahe District, Guangzhou Office Address: 19/F – 20/F, Main Tower, Guangzhou International Finance Center, No. 5 25 CITIC Securities Co., Ltd. West Zhujiang Road, Tinahe District, Guangzhou Legal Representative: Hu Fuyun Contact Person: Liang Wei Contact No.: 020-8883699995396 Customer Service Telephone No.: 95396 Website: www.gzs.com.cn Registered Address: No. 389 Middle Jiangdong Road, Nanjing, Jiangsu Province Office Address: No. 389 Middle Jiangdong Road, Nanjing 26 Nanjing Securities Co., Ltd Legal Representative: Bu Guoxun Contact Person: Wang Wanjun Contact No.: 025-58519523 Customer Service Telephone No.: 95386 Website: www.njzq.com.cn Registered Address: No. 198 Tian’e Hu Road, Zhengwu Wenhua New District, Hefei, Anhui Province Office Address: Tower B1, Caizi Center, No. 198 Tian’e Hu Road, Zhengwu Wenhua New District, 27 Huaan Securities Co., Ltd. Hefei, Anhui Province Legal Representative: Zhang Hongtao Contact Person: Fan Chao Contact No.:0551-65161821 Customer Service Telephone No.: 95318 Website: www.hazq.com Registered Address: 57/F, No. 100, Century Avenue, China (Shanghai) Pilot Free Trade Zone Office Address: 57/F, No. 100, Century Avenue, Hwabao Securities Company 28 China (Shanghai) Pilot Free Trade Zone Limited. Legal Representative: Chen Lin Contact Person: Liu Wenchuan Telephone No.:021-20657517

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Fax: 021-68408217-7517 Customer Service Telephone No.: 4008209898 Website: www.cnhbstock.com

Registered Address: 20/F, Investment Bank Building, No. 115 Fuhua First Road, Futian District, Shenzhen Office Address: 18/F, Investment Bank Building, No. 115 Fuhua First Road, Futian District, 29 First Capital Securities Co., Ltd. Shenzhen Legal Representative: Liu Xuemin Contact Person: Dan Jing Contact No.:0755-23838750 Customer Service Telephone No.: 95358 Website: www.firstcapital.com.cn Registered Address: No. 10 Business Outer Ring Road, Zhengdong New District, Zhengzhou Office Address: No. 10 Business Outer Ring Road, Zhengdong New District, Zhengzhou Legal Representative: Jian Mingjun 30 Central China Securities Co., Ltd. Contact Person: Cheng Yueyan, Li Panpan Telephone No.: 0371-69099882 Fax: 0371-65585899 Customer Service Telephone No.: 95377 Website: www.ccnew.com Registered Address: No. 8 Qiaobei Court, Jiangbei District, Chongqing Legal Representative: Liao QingXuan 31 Southwest Securities Co., Ltd. Contact Person: Zhou Qing Telephone No.:023-63786633 Customer Service Telephone No.: 4008096096 Website: www.swsc.com.cn

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

Registered Address: 21/F, Tongcheng Central, No. 15 Yingbin Street, Chengqu District, Datong Office Address: F12, F13 Tower A, Shanxi World Trade Center, No. 111 Changzhi Road, Taiyuan, Shanxi Province 32 Datong Securities Co., Ltd Legal Representative: Dong Xiang Contact Person: Xue Jin Telephone No.:0351-4130322 Fax: 0351-4192803 Customer Service Telephone No.: 4007121212 Website: http://www.dtsbc.com.cn Registered Address: 201, 501, 502, 1103, 1601- 1615, 1701-1716, Jiahua International Business Center, No. 15 Hangda Road, Hangzhou Office Address:201, 501, 502, 1103, 1601-1615, 1701-1716, Jiahua International Business Center, No. 15 Hangda Road, Hangzhou 33 Caitong Securities Co., Ltd Legal representative: Lu Jianqiang Contact: Cai Chizhou Telephone: 0571-87821867 Customer Service Telephone No.: 95336, 4008696336 Website: www.ctsec.com Registered Address: 1501, 15/F, Building No.1, Court No. 99, North 3rd Ring West Road, Haiding District, Beijing Office Address: 1501, 15/F, Building No.1, Court No. 99, North 3rd Ring West Road, Haiding 34 New Times Securities Co., Ltd District, Beijing Legal Representative: Ye Shunde Contact Person: Tian Fangfang Contact No.:010-83561146 Customer Service Telephone No.: 95399 Website: www.xsdzq.cn

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Registered Address: 4/F, Securities Building, No. 36 Nanbao Road, Haikou Office Address: 17/F, Times Finance Center, No. 4001 Shennan Avenue, Shenzhen 35 Goldstate Securities Co., Ltd. Legal Representative: Wang Zuoyi Contact Person: Liu Ping Telephone No.:0755-83025693 Customer Service Telephone No.: 95372 Website: www.jyzq.cn Registered Address: 18/F – 19F, Block F, Gaode Zhidi Plaza, No. 11 East Jiangdong Road, Tianhe District, Guangzhou Office Address: 12F, Block E, Gaode Zhidi Plaza, No. 13 East Jiangdong Road, Tianhe District, 36 Wanlian Securities Co., Ltd. Guangzhou Legal representative: Luo Qincheng Contact Person: Gan Lei Telephone: 020-38286026 Customer Service No: 95322 Website: www.wlzq.cn Registered Address: No. 95 Genshang Street, Eastern City, Chengdu Office Address: No. 95 Genshang Street, Eastern City, Chengdu Legal Representative: Ran Yun 37 Sinolink Securities Co., Ltd. Contact Person: Du Jing, Li Jianping Telephone No.:028-86690057 Fax: 028-86690126 Customer Service Telephone No.: 95310 Website: www.gjzq.com.cn Registered Address: 5/F, Block B, City Gate, No. 1 Jinye Road, Gaoxin District, Xi’an Office Address: 5/F, Block B, City Gate, No. 1 Jinye Road, Gaoxin District, Xi’an 38 Kaiyuan Securities Co., Ltd Legal Representative: Li Gang Contact Person: Zhang Meng Wei Telephone No.:029-88365805 Fax: 029-88365835

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Customer Service Telephone No.: 95325 Website: www.kysec.cn

Customer Service Telephone No.: 4008005000 or 95351 Website: www.tfzq.com Registered Address: 9/F, Gemdalep Plaza, ShenNanDa Road South, Futian District, Shenzhen City, Guangdong Province Office Address: 27th Floor, Zhongjian Fortune International Center, Building 3, Yard 5, Anding 40 Lianchu Securities Co., Ltd. Road, Chaoyang District, Beijing Legal representative: Lu Chunwei Contact Person: Zhang Wanting Phone: 010-86499765Fax: 010-86499401 Customer Service Telephone No.: 400-620-6868 Website: www.lczq.com Registered Address: 10 Buildings, International Headquarters City, Liuwu New District, Lhasa, Tibet Autonomous Region East Money Securities Co., Ltd. Office Address: Oriental Fortune Building, Jinzuo, 41 No. 88 Wanping South Road, Xuhui District, Shanghai Legal representative: Xu Weiqin Contact Person: Fu Jia

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Phone: 021-23586603 Fax: 021-23586860 Customer Service No: 95357 Website: http://www.18.cn

Registered Address: Room 1301-1305, 13/F, 14/F, North Block, Zhuoyue Time Square (Phase II), No. 8 Zhongxin Road No. 3, Futian District, Shenzhen City Office Address: Room 1301-1305, 13/F, 14/F, North Block, Zhuoyue Time Square (Phase II), No. 8 Zhongxin Road No. 3, Futian District, Shenzhen 42 CITIC Futures Co., Ltd. City Legal Representative: Zhang Hao Contact Person: Liu Hongying Telephone No.: 010-60833754 Fax: 021-60819988 Customer Service Telephone No.: 400-990-8826 Website: http://www.citicsf.com Registered Address：Floor 16, Sunshine Insurance Finance Plaza, 360 Yinbin Road, Jiyang District, Sanya Shi, Hainan Office Address：Floor 12, Kuntai International Building, 12 Chaoyangmenwai Avenue, Chaoyang Sunshine Life Insurance District, Beijing 43 Corporation Ltd. Legal Representative：Li Ke Contract Person：Wang Lei Phone: 010-85632771 Fax: 010-85632773 Customer Service No: 95510 Website：http://www.sinosig.com

Registered Address: Room 04, 29/F and 20/F, 44 Huatai Futures Co. Ltd Lifeng Building, No. 761 DongFeng Street, Yuexiu District, Guangzhou

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Office Address: Room 04, 29/F and 20/F, Lifeng Building, No. 761 DongFeng Street, Yuexiu District, Guangzhou Legal Representative: Wu ZuFang Contact Person: Zhang Huimin Telephone No.: 0755-23887931 Fax: 0755-82777490 Customer Service Telephone No.: 4006280888 Website: http://www.htfc.com Registered Address: Room 3724, No. 9, Lane 360, Feihong Road, Hongkou District, Shanghai Office Address:Block C No. 32 Qinghuangdao Road, Yangpu District, Shanghai Noah Upright (Shanghai) Fund Legal Representative: Wang Jingbo 45 Investment Consultancy Co., Ltd Contact Person: Li Juan Telephone No.: 021-80359127 Fax: 021-38509777 Customer Service Telephone No.: 400-821-5399 Website: www.noah-fund.com Registered Address: Room 12-13, 4th Floor, Phase 1, HALO Plaza, No. 8, Liyuan Road, Sunxi Community, Sungang Street, Luohu District, Shenzhen Office Address: Room 12-13, 4th Floor, Phase 1, HALO Plaza, No. 8, Liyuan Road, Sunxi Shenzhen Zhonglu Fund Sales Community, Sungang Street, Luohu District, 46 Co., Ltd. Shenzhen Legal Representative: Xue Feng Contact Person: Gong Jiang Jiang Telephone No.:0755-33227950 Fax: 0755-33227951 Customer Service Telephone No.: 4006-788-887 Website: www.zlfund.cn and www.jjmmw.com

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Registered Address: No.41, 2/F, Building No. 26, No. 196 Ouyang Road, Hongkou District, Shanghai Office Address: Room 903 -906, Ordos International Building, No. 1118 South Pudong Road, Pudong New District, Shanghai ; 2/F, Building No. 26, No. 196 Ouyang Road (FCC 47 Shanghai Howbuy Fund Limited Bridge Creative Park), Hongkou District, Shanghai Legal Representative: Yang Wenbin Contact Person: Zhang Ru Telephone No.:021-20613999 Fax: 021-68596916 Customer Service Telephone No.: 400-700-9665 Website: www.ehowbuy.com Registered Address: Room 599, 5th Floor, Building 3, No. 969, Wenyi West Road, Wuchang Street, Yuhang District, Hangzhou, Zhejiang, China Office Address: 6/F, Tower B, Huanglong Time Ant (Hangzhou) Fund Sales Co., 48 Square, No. 18, Wantang Road, Xihu District, Ltd Hangzhou, Zhejiang Legal Representative: Zu Guo Ming Contact Person: Han Aibin Customer Service Telephone No.: 4000-766-123 Website: http://www.fund123.cn/ Registered Address: Room 220, Block 2, No. 526 Gaoxiang Road, Pudong New District, Shanghai Office Address: 11/F, No. 1267 Dongfang Road, Pudong New District, Shanghai Shanghai Changliang Fund Legal Representative: Zhang Yuewei 49 Investment Co., Ltd. Contact Person: Qiu Yan Fang Telephone No.:021-20691831 Fax: 021-20691861 Customer Service Telephone No.: 400-820-2899 Website: www.erichfund.com

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Registered Address: 2/F, Building No. 2, No. 190, Longtian Road, Xuhui District, Shanghai Office Address: Jinzuo Building (East Fortune Building), No. 88 South Wanping Road, Xuhui District, Shanghai Shanghai Tiantian Fund Sales. Legal Representative: Qi Shi 50 Co., Ltd Contact Person: Pan Shi You Telephone No.:021-54509977 Fax: 021-64385308 Customer Service Telephone No.: 95021 / 4001818188 Website: www.1234567.com.cn Registered Address: Room 903, Yuanmao Building, No. 1 West Wener Road, Hangzhou, Zhejiang Province Office Address: 4/F, Tonghuashun Building, No. 18, Tongshun Block, Wuchang Street, Yuhang Zhejiang Hexin Flush Fund Sales District, Hangzhou, Zhejiang Province 51 Co., Ltd Legal Representative: Wu Qiang Contact Person: Wu Qiang Telephone No.: 0571-88911818 Fax: 0571-86800423 Customer Service Telephone No.: 4008-773-772 Website: www.5ifund.com Registered Address: Room 908 9/F Block A No. 13 Wangjing Dongyuan District 4, Chaoyang District, Beijing Office Address: No. 04-08, 9/F, Tower A, Wangjing Puxiang Center, Chaoyang District, Zhongsheng Fortune (Beijing) Beijing 52 Fund Co., Ltd. Legal Representative: Nie Wan Jun Contact Person: Li Yan Telephone No.: 010-59497361 Fax: 010-64788016 Customer Service Telephone No.: 400-012-5899 Website: www.zscffund.com

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Registered Address: 1809, 15/F, Building No. 9, No. 88 Jianguo Road, Chaoyang District, Beijing Office Address: 1809, Block C, SOHO Modern City, No. 88 Jianguo Road, Chaoyang District, Beijing Yixin Puze Investment 53 Legal Representative: Rong Bing Consultancy (Beijing) Co., Ltd. Contact Person: Wei Chen Telephone No.: 010-52413385 Fax: 010-85894285 Customer Service Telephone No.: 4006099200 Website: www.yixinfund.com Registered Address: Huarong Building, No. 178 Mintian Road, Futian District, Shenzhen Office Address: 7/F, Fuzhuo Building, No.28, Xuanwumenwai Street, Xicheng District, Beijing Shenzhen Newland Securities Legal Representative: Hong Hong 54 Investment Consultancy Co., Ltd. Contact Person: Wen Wen Telephone No.: 010-83363101 Fax: 010-83363072 Customer Service Telephone No.: 400-166-1188 Website: https://8.jrj.com.cn Registered Address: Room 5122, 5/F, No. 10 North Hongda Road, Economic and Technology Development Zone, Beijing Office Address: Room 3001 30/F SOHO Nexus Center, No. A19 Dongsanhuang North Road, Beijing Heng Tang Mingze Fund Chaoyang District, Beijing 55 Co., Ltd. Legal Representative: Zhou Bin Contact Person: Hou Yan Hong Telephone No.: 13910678503 Fax: 010-57756199 Customer Service Telephone No.: 4008980618 Website: www.chtwm.com

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Registered Address: Room 402, No. 8 Middle Yincheng Road, Pilot Free Trade Zone (Shanghai), China Office Address: 4/F, No. 8 Middle Yincheng Road, Pudong New District, Shanghai Haiyin Fund Distribution Co., Legal Representative: 56 Ltd. Gong Qiaoli Contact Person: Liu Hui Telephone No.:021- 60206991 Fax: 021-80133413 Customer Service Telephone No.: 400-808-1016 Website: www.fundhaiyin.com Registered Address: No.106-167, Building 2, Court 8, South Xingsheng Road, Miyun County, Beijing Office Address: Building 10, Shengshi Longyuan Guoshi Garden, Chaoyang District, Beijing Beijing Zhixin Fund Sales Co., 57 Legal Representative: Wang Junhui Ltd. Contact Person: Wu Peng Telephone No.: 010-56075718 Fax: 010-67767615 Customer Service Telephone No.: 4006-802-123 Website: http://www.zhixin-inv.com/ Registered Address: Room 310, 3/F, No. 277 Fute North Road, China (Shanghai) Pilot Free Trade Zone Office Address: 3/F, Block 8, No. 518, North Fuquan Road, Changning District, Shanghai Shanghai Liantai Fund Sales Co., 58 Legal Representative: Yan Bin Bin Ltd Contact Person: Chen Dong Telephone No.: 021-52822063 Fax: 021-52975270 Customer Service Telephone No.: 400-166-6788 Website: www.66liantai.com

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Registered Address: Rm 1033, No.5475 Yun Chuan Road, Baoshan District, Shanghai

Office Address: 18 Floor, Pujiang International Finance Plaza, No. 1098 Dongdaming Road, 59 Shanghai Lide Fund Sale Hongkou District, Shanghai Legal Representative: Li Xingchun Co., Ltd. Contact Person: Chen Zi Ming

Telephone No.: 18516109631 Fax: 021-61101630 Customer Service Telephone No.: 95733 Website: www.leadfund.com.cn Registered Address: Unit 9, 14/F, No. 1333, Lujiazui Ring Road, Pudong New District, Shanghai Office Address: 14/F, No. 1333, Lujiazui Ring Road, Pudong New District, Shanghai 60 Shanghai Lujinsuo Fund Sales Legal Representative: Wang Zhi Guang Co., Ltd. Contact Person: Ning Boyu Telephone No.: 021-20665952 Fax: 021-22066653 Customer Service Telephone No.: 4008219031 Company Website: www.lufunds.com Registered address: Room 1015, 10th Floor, No. 17, East Third Ring North Road, Chaoyang District, Beijing Office Address: Room 1015, 10th Floor, No. 17, East Third Ring North Road, Chaoyang District, Beijing 61 Beijing Hongdian Fund Sales Co.,Ltd. Legal representative: He Jing Contact Person: Wang Chongyang Telephone No.: 010-65951887 Customer Service Telephone No.: 400-618-0707 Website: www.hongdianfund.com

Registered Address: No. 3491, Room 105, No.6, Baohua Road, Hengqin New District, Zhuhai Office Address: Room 1201-1203, 12/F, South 62 Zhuhai Yingmi Fund & Sales Tower, Poli International Plaza, No.1, East Pazhou Co.,Ltd. Avenue, Haizhu District, Guangzhou Legal Representative: Xiao Wen Contact Person: Qiu Xiangxiang

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Telephone No.: 020-89629099 Fax: 020-89629011 Customer Service Telephone No.: 020-89629066 Website: www.yingmi.cn

Registered Address: Room 602-115, No.765, South Tibet Road, Huangpu District, Shanghai Office Address: 4/F, Kaishi Building, No.1, East Yan’an Road, Huangpu District, Shanghai Legal Representative: Chen Jiwu 63 Shanghai V. Stone Wealth Fund Sales Co.,Ltd. Contact Person: Gao Hao Hui Telephone No.: 021-63333389-230 Fax: 021-63333390 Customer Service Telephone No.: 4006-433-389 Website: www.vstonewealth.com Registered Address: Room 2105, Modern Pentathlon Stadium, Nanjing Olympic Sports Centre, No. 222, Middle Jiangdong Road, Jianye District, Nanjing Office Address: 15/F, Dongfang Chunyi Building, No. 505, Eshan Road, Pudong New District, Shanghai 64 Datai Funds Investment and Management Co.,Ltd. Legal Representative: Yuan Guming Contact Person: Meng Zhaoshe Telephone No.: 15621569619 Fax: 021-20324199 Customer Service Telephone No.: 400-928- 2266/021-22267995 Website: www.dtfunds.com Registered Address: Room 1108, No. 11, Zhongguancun Street, Haidian District, Beijing Office Address: Room 1108, No. 11, Zhongguancun Street, Haidian District, Beijing 65 Beijing Success Fund Co., Ltd. Legal Representative: Wang Weigang Contact Person: Wang Xiao Xiao Contact No.: 010-56282140 Fax: 010-62680827

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Customer Service Telephone No.: 4006199059 Website: www.hcjijin.com

Registered address: No. 1-5 Suning Avenue, Xuanwu District, Beijing Office Address: No. 1-5 Suning Avenue, Xuanwu District, Beijing Legal representative: Wang Feng 66 Nanjing Sunning Fund Sales Co., Ltd Contact: Zhang YunfeiTelephone No.: 025- 66996699-887226 Fax: 025-66996699 Customer Service Telephone No.: 95177 Website: www.snjijin.com Registered address: 222507, 21/F Unit 2 No. 6 Block, Court No 1 Futong East Street, Chaoyang District, Beijing Office Address: Room 1501, 15th Floor, Building 6, No. 34, Chuangyuan Road, Chaoyang District, 67 Beijing Eggroll Fund Sales Co., BeijingLegal Representative: Zhong Feifei Ltd Contact Person: Hou Fang Fang Telephone No.: 010-61840688 Fax: 010-84997571 Customer Service No: 4001599288 Website: https://www.danjuanapp.com Registered address: Room 6153 No. 2 Building, No. 1800 Old Panyuan Road, Changxing Town, Chongming County, Shanghai (Shanghai Taihe Economic Development Zone) Office Address: Room1002-1003, Block A, 68 Shanghai Jiyu Fund Sales Co., Beimei Plaza, No. 518 Kunming Road, Shanghai Limited Legal Representative: Wang Xiang Contact Person: Lan Jie Telephone No.: 021-35385521 Fax: 021-55085991 Customer Service Telephone No.: 400-820-5369

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Website: www.jiyufund.com.cn

Registered address: No. 17 Bungalow 157, No. 12, Building Materials City Middle Road, Xisanqi, Haidian District, Beijing Office Address: 15th Floor, Block A, Jingdong Group Headquarters, No. 18, Kechuang 11th Street, Yizhuang Economic and Technological 69 Beijing Kenterui Fortune Fund Development Zone, Tongzhou District, Beijing and Sales Co., Ltd. Legal representative: Wang Suning Telephone: 95118 Fax: 010-89189566 Customer Service Hotline: 95118 Company website: kenterui.jd.com

Registered Address: 201,No.107, 667 Tongfeng Road, Hongkou District, Shanghai Office Address: Floor 7, Tonghua Technology Building, No. 55 Jinhu Road, Pudong New Area, Shanghai Legal Representative: Shen Dan Yi 70 Huatong Fortune (Shanghai) Fund Contact Person: Zhuang Jieru & Sales Co., Ltd Telephone No.: 021-60810768 Fax: 021-60810695 Customer Service Telephone No.: 4001019301/95193 Website: www.tonghuafund.com Registered Address: Room 04, 5/F, No. 799 Yanggaoxin Road, Pilot Free Trade Zone (Shanghai), China 71 Shanghai Wacai Financial Office Address: Room 04, 5/F, No. 799 Information Services Co., Ltd. Yanggaoxin Road, Pilot Free Trade Zone (Shanghai), China Legal representative: Lu Liuxia

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Contact Person: Zeng YunTelephone No.: 021- 50810687 Fax: 021-58300279 Customer Service Telephone No.: 021-50810673 Website: www.wacaijijin.com

Registered Address: Room 503, Building No.6, Kangning Street North, East Dongfeng Road East, Zhengdong New District, Zhengzhou City Office Address: Room 503, Building No. 6, Kangning Street North, South East Dongfeng Road East, Zhengdong New District, Zhengzhou 72 Hegeng Chuancheng Fund Sales Co., Ltd. Legal Representative: Wang Xuan Contact Person: Hu Jinghua Telephone No.: 0371-85518396 Fax: 0371-85518397 Customer Service Telephone No.: 4000-555-671 Website: http://www.hgccpb.com/ Registered Address：Room 201, Building A, No. 1 Qianwanyi Road, Shengang Cooperative District, Qianhai, Shenzhen, China Office Address：Floor 15, Tencent Binhai Tower, No. 33 Haitian 2nd Road, Nanshan District,

73 Tengan Fund Sales Co. Ltd. Shenzhen Legal Representative：Liu Ming Jun Contact Person：Tan Guang Feng Telephone No: 0755-86013388 (switch to 80618) Customer Service Telephone No: 95017 website：www.tenganxinxi.com Registered address: Room 103, 1st Floor, Building 4, West District, No. 10 Northwest Wangdong Road, Haidian District, Beijing 74 Beijing Baidu Baiying Fund Sales Office Address: Building 4, West District, Yard 10, Co., Ltd. Northwest Wangdong Road, Haidian District, Beijing Legal representative: Ge Xin

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Customer Service Telephone No.: 95055 Website: www.8.baidu.com Postal code: 100085

Registered Address: No 47, Gutan Avenue, Economic Development Zone, Gaochun District, Nanjing, China Office Address: Room 2005, Zifeng Building, Greenland, No. 2 Zhongshan North Road, Gulou District, Nanjing 75 Jiangsu Huilin Fund Sales Co., Legal representative: Wu Yanlin Ltd. Contact Person: Lin Yiling Phone: 025-66046166-810 Fax: 025-56878016 Customer Service No: 025-66046166 Website: www.huilinbd.com

Registered Address: No. 16, Financial Street, Xicheng District, Beijing, China Office Address: No. 16, Financial Street, Xicheng District, Beijing, China 76 China Life Insurance Co., Ltd. Official representative: Wang Bin Contact Person: Qin Zewei Telephone No: 010-63631539 Customer Service No: 95519 Website: www.e-chinalife.com Registered address: Room 1105, No.707 Zhangyang Road, China (Shanghai) Pilot Free Trade Zone Office Address: Room 1105, No.707 Zhangyang Xuan Yuan Insurance Agency Co., Road, China (Shanghai) Pilot Free Trade Zone 77 Ltd. Legal representative: Ma Yongzhi

Contact: Lu Yabo Phone: 021-50701053 Fax: 021-50701053 Customer Service Phone: 400 080 8208

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Website: www.licaimofang.cn

Registered Address: 4th Floor, Area E, Fuxing City Internet Innovation and Entrepreneurship Park, No. 32 Binhai Avenue, Haikou City, Hainan Province Office Address: Building 18, Yard 18, Ziyue Road, Chaoyang District, Beijing Fenghuang Jinxin (Haikou) Fund 78 Legal representative: Zhang Xu Sales Co., Ltd Contact: Wang Ying Phone: 010-58160084 Fax: 010-58160181 Customer Service Phone: 400-810-5919 Company website: www.fengfd.com Please refer to the website of the Fund Manager for details of other Sales Agencies of the 79 Fund.

5.2 Registration Institution China Southern Asset Management Co., Ltd. Domicile and Office Address: 32/F-42/F, Fund Building, No. 5999 YiTian Road, LianHua Lu, Futian District, Shenzhen

Legal Representative: Zhang Haibo Telephone No.: (0755)82763849 Fax: (0755)82763854 Contact Person: Gu Hepeng

5.3 Law firm issuing legal opinion Name: Guangdong Hua Han Law Firm Registered Address: Room G and H, 16/F, Block A, Baoan Plaza, No. 1002 East Sungang Road, Luohu District, Shenzhen Person in charge: Li Zhaoliang Telephone No.: (0755)82687860 Fax: (0755)82687861

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Attorney: Yang Zhong, Dai Ruidong

5.4 Accounting firm for auditing fund assets Name: PricewaterhouseCoopers Zhong Tian LLP (Special general partnership) Domicile: 6/F, DBS Bank Building, No. 1318 Lujiazui Ring Road, Pudong New District, Shanghai Office Address: 11/F, PricewaterhouseCoopers Centre, Block 2, Lingzhan Enterprise Plaza, No. 202 Hubin Road, Shanghai Executive Partner: Li Dan Contact Person: Cao Yang Contact No.: 021-23238888 Fax: 021-23238800 Registered Accountant: Xue Jing, Cao Yang

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§ 6 Offering of the Fund

The Fund is offered by the Fund Manager in accordance with the Funds Law, the Operation Measures, the Sale Measures, the Fund Contract and other relevant provisions, and the offering was approved by the CSRC on 25 April 2008 in its approval document Zheng Jian Xu Ke [2008] No. 596.

The Fund is a contractual open-ended fund. The duration of the Fund is indefinite. The initial offer period commenced on 12 May 2008 and ended on 13 June 2008, and a total number of 1,139,765,865.76 Fund Units had been offered, and the number of investors participating in the initial offering is 13,412.

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§ 7 Effectiveness of the Fund Contract

1. Conditions for the Filing of the Fund Within 3 months starting from the date of offering of the Fund Units, on the conditions that the total number of Fund Units offered by the Fund is not less than 200 million, and the proceeds from the Offering of the Fund is not less than RMB 200 million yuan, and there are not less than 200 Unitholders, the Fund Manager may decide to cease the offering of the Fund in accordance with the Laws and Regulations and the Prospectus, and shall, within 10 days, engage a statutory capital verification institution to conduct capital verification, and shall, within 10 days from the date on which the capital verification report is received, go through the formality for the filing of the Fund with the CSRC. If the above conditions for the filing of the Fund are met, the Fund Contract shall take effect from the date on which the Fund Manager completes the formality for the filing of the Fund and the filing of the Fund is confirmed by the CSRC in writing; otherwise the Fund Contract shall not take effect. The Fund Manager shall make an announcement on the date following the receipt of the confirmation documents from the CSRC. The Fund Manager shall deposit the funds raised during the initial offer period of the Fund into a specified account. Prior to the expiration of the initial offer period of the Fund, no person shall utilize such funds.

2. Effectiveness of the Fund Contract The Fund Contract takes effect on 18 June 2008. From the Effective Date of the Fund Contract, the Fund Manager commences to manage the Fund.

3. Number of Unitholders and Asset Size During the Duration of the Fund After the Fund Contract takes effect, if the number of Unitholders is less than 200 or the Net Asset Value of the Fund is less than RMB 50 million yuan, and any of such situations lasts for 20 consecutive Working Days, then the Fund Manager shall disclose the same in periodic reports; if any of such situations lasts for 60 consecutive Working Days the aforementioned circumstance occurred, the Fund Manager shall report the matter to the CSRC and submit the recommended solution to the CSRC, such as changing the mode of operation, merging with other funds or terminating the Fund Contract, and convening a general meeting of Unitholders of the Fund for voting. The Fund Manager shall act accordingly if prescribed otherwise by the Laws and Regulations or the CSRC.

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§ 8 Subscription and Redemption of Units

8.1 Brief Description of Subscription and Redemption Depending on different sale districts, and different methods of collection of fees such as initial subscription fee/subscription fee or redemption fee, or different Sales Institutions, the Fund can be divided into different classes of units. Units that are offered for sale in the Mainland China are known as Class A Units and where no sale service fee is charged upon; Units that are offered for sale in the Mainland China are known as Class C Units and where sale service fee is charged upon.; Units that are offered for sale in Hong Kong Special Administrative Region are known as Class H Units and where no sale service fee is charged upon. The Fund has set up different codes for Class A Units and Class H Units, and calculated the net value per unit of Class A Units, Class C Units and Class H Units separately.

Save as the relevant announcement of the Fund, such as supplementary documents of the Prospectus of the Fund prepared for sale in Hong Kong, and other specific business regulations of Hong Kong Sales Institutions, sales activities such as subscription, redemption and transfer, shall be handled according to the Prospectus.

8.2 Locations for Subscription and Redemption Sales Institutions of the Fund include the Fund Manager and Sales Agencies entrusted by the Fund Manager. Sales Institutions of Class H Units are relevant sales agencies approved by SFC and qualified for handling the subscription and redemption of Class H Units and other fund businesses. The Investors shall handle the Subscription and Redemption at a Sales Institution’s business place dealing with the business of fund or according to other methods provided by the Sales Institution. The Fund Manager shall list out the information of the Sales Institutions in the Prospectus or designated websites. The Fund Manager, depending on actual situation, may change or add or remove any Sales Agencies of the Fund.

8.3 Open Day and Open Hours for Subscription and Redemption The Subscription and Redemption shall commence within 3 months from the Effective Date of the Fund Contract. The Fund Manager shall make announcement on the Designated Medium two days before the actual date on which it starts the Subscription and Redemption of the Fund. The Open Day for Class A Units and Class C Units are the trading date of the Shanghai Stock Exchange and Shenzhen Stock Exchange (except where the Fund Manager announces that the Subscription and Redemption of the Fund is suspended). The Open Day for Class H Units is the joint trading date of Shanghai Stock Exchange, Shenzhen Stock Exchange and Hong Kong Stock Exchange (except where the Fund Manager announces that the Subscription and Redemption of the

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Fund is suspended). Investors should submit their applications for subscription and redemption on Open Days. The open hours for handling the relevant business shall be agreed by the Fund Manager and the Sales Agencies. If there are any new securities exchanges established or existing exchanges change their trading time, or these are actual needs, the Fund Manager may make adjustment on the time arrangement for subscription and redemption provided however that the Fund Manager shall make an announcement on the Designated Medium two days before the actual date on which such adjustment takes effect. The daily Subscription and Redemption business of Class A Units of the Fund has started on 20 November 2008. For the time when Class H Units are open for daily subscription and redemption, please refer to announcements issued by the Fund Manager.

8.4 Principles of Subscription and Redemption 1. Principle of “forward pricing”, meaning that the prices for Subscription and Redemption will be calculated on the basis of the NAV per Unit calculated after the market closes on the application day; 2. Principle of “Subscription by Amount and Redemption by Unit”, meaning the applications for subscription are based on the amount that is invested, while the applications for Redemption are made based on the number of Units that are redeemed; 3. Any applications for Subscription and Redemption of the day may be cancelled before the time specified by the Fund Manager; 4. The Fund Manager may change any of the above principles with reference to the actual operation of the Fund and without prejudicing the actual interest of Unitholders. The Fund Manager shall, prior to the implementation of new rules, make an announcement on the Designated Medium pursuant to the Information Disclosure Measures and file to the CSRC. 5. The currency for subscription and redemption of Units of the Fund is RMB. The Fund Manager may accept subscription and redemption in other currencies provided that it does not breach the law and as agreed with the Fund Custodian.

8.5 Procedure of Subscription and Redemption 1. Subscription for Subscription and Redemption The Fund Investors shall, according to the procedure specified by the Sales Institutions, apply for Subscription and Redemption to the Sales Institutions during the Open Hours of the Open Days. When applying for subscription of the Fund, the Investors shall make ready sufficient subscription monies according to the method specified by the Sales Institution.; when submitting the application for Redemption, the Investors shall have the sufficient balance of Units. Otherwise, the Subscription and Redemption application shall become invalid and no transaction shall come into effect. 2. Confirmation of Subscription of Subscription and Redemption 135

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For the applications accepted during the time specified on Day T, under normal circumstances, the Fund Registration Institution shall confirm the validity of the applications for Investors on Day T+1. Investors could make enquiry to the Sales Institutions or by other means required by the Sales Institutions for the transaction results after Day T+2 (inclusive). The Open Day for the Class H Units is different from that of Class A Units and Class C Units. Therefore, for the specific time when investors of Class H Units of the Fund enquire with the Sales Institution about the transaction of subscription and redemption or in other ways required by the Sales Institution, please see supplementary documents of the Prospectus or further announcement. 3. Payment for Subscription of Subscription and Redemption The Subscription requires a lump sum payment; if the subscription amount is not paid in full within the specified time, the Subscription is deemed not successful; in this case, the amount paid for this subscription will be returned to the account of the Investor. When Investors successfully apply for Redemption on Day T, the Fund Manager will direct the Fund Registration Institution and related Sales Institutions of the Fund to transfer the Redemption proceeds to the bank account of the Unitholders before Day T+7 (inclusive). In case of massive redemption, the payment shall be made according to the relevant provisions specified in the Fund Contract.

8.6 Restrictions on Subscription Amount and Redemption Amount 1. The minimum subscription amount per application for initial and subsequent application for Subscription of the Fund is RMB 1 Yuan. Provided that the Sales Institutions satisfy the abovementioned provisions, the threshold amount of Initial Subscription and Subsequent Subscription may increase based on the actual conditions. The specific amount shall be subject to the announcements of the Sales Institutions and Investors shall comply with related rules of the Sales Institutions. The minimum number of units of the Fund for each single redemption application shall not be less than one, and there is no such restriction for the investor in the case of full redemption. Under the premise that the Sale Institutions of the Fund fulfil the above regulations, the minimum requirement per redemption can be raised depending on the situation. Details shall be subject to the announcement by the Sales Institutions of the Fund, investors have to follow related regulations of the Sales Institutions. For details of the restrictions on subscription and redemption amount for Class H Units of the Fund, please see the supplementary documents to the Prospectus or further announcement. 2. There is no restriction on the minimum balance of Units in each trading account of Investors. 3. There is no limit on the maximum number of Units held by a single Investor in aggregate, subject to the provisions of laws and regulations and regulatory authorities. 4. When accepting subscription application would have significant adverse effect on the interests of existing Unitholders, the Fund Manager shall be entitled to take measures such as setting the subscription amount for a single investor or the net subscription percentage of the Fund within a single day, rejecting massive subscription, suspending subscription etc., to practically protect the 136

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) legal interests of existing Unitholders. For details please refer to relevant announcements. 5. The Fund Manager may, based on the actual market conditions and to the extent permitted by law, adjust the above restrictions and limits on the subscription amount and number of Units redeemed, and make announcement on the Designated Medium before the adjustment takes effect pursuant to the Information Disclosure Measures.

8.7 Subscription Fee and Redemption Fee 1. Subscription Fee (1) Subscription Fee for Class A Units Subscription fees for Class A Units of the Fund can be paid by two methods. Subscription fees for Class A Units charged at the time of subscription are front-end upfront subscription fees; while subscription fees charged on redemption are back-end deferred subscription fee. Investors of the Class A Units may elect either of these payment methods. Front-end upfront subscription fee charged for Class A Units is up to 1.8% and decreases as the Subscription amount increases. Back-end deferred subscription fee is up to 2.0% and decreases as the holding period increases. The details are indicated as follows:

Front-end Charges: Subscription Amount of Front-end Subscription Fee Rate Class A Units（M）

M＜1 million Yuan 1.8% 1 million Yuan ≤M＜5 1.2% million Yuan 5 million Yuan ≤M＜10 0.6% million Yuan M≥10 million Yuan 1000 Yuan per subscription

Back-end Charges (365 days/year): Holding period of Class A Back-end Subscription Fee Rate Units（N）

N＜1 year 2.0% 1 year≤N＜2 years 1.6% 2 years≤N＜3 years 1.2% 3 years ≤N＜4 years 0.8% 4 years ≤N＜5 years 0.4% N≥5 years 0

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(2) No subscription fee for Class C Units (3) Subscription Fees for Class H Units The subscription fee for Class H Units of the Fund shall be up to 5% and the actual rate is determined by the Sales Institutions. (4) The subscription fee of the Fund is charged to the subscriber of the Fund, and shall not be credited into the Fund’s assets. Subscription fee is mainly used for marketing, sales and registration of the Fund. 2. Redemption fee (1) Redemption fee for Class A Units The redemption fee for Class A Units is up to 1.5% and decreases as the holding period increases (365 days/year). The details are indicated as follows: Holding Period of Class A Redemption Fee Rate Units（N） T＜7 days 1.5% 7 days

1 year ≤N＜2 years 0.3%

N≥2 years 0

Investors can redeem all or part of their Units. The Redemption fee for Class A Units is charged when Investors redeem the Class A Units, in which a redemption fee at the rate of 1.5% will be imposed on investors with a continuing holding period of less than 7 days, and the full amount of redemption fee shall be credited into the assets of the Fund. For investors with a continuing holding period of more than 7 days, the balance after deducting the marketing expenses, registration fees and other handling fees shall be credited into the assets of the Fund. No less than 25% of redemption fee shall be credited into the assets of the Fund. (2) The redemption fee rate for Class C Units of the Fund shall not exceed 1.5%, The redemption fee for Class C Units is up to 1.5% and decreases as the holding period increases. The details are indicated as follows:

Holding Period of Class C Units (N) Redemption Fee Rate N < 7 days 1.50%

7 days ≤ N < 30 days 0.5% N ≥ 30 days 0 (3) Redemption fees for Class H Units The redemption fee rate for Class H Units of the Fund is 0.13%. Investors can redeem all or part of the Units. The redemption fee Class H Units of the Fund shall be retained by the Fund. 3. The subscription fee rate, redemption fee rate and charging method shall be determined by the Fund Manager according to the requirements under the Fund Contract. The Fund Manager can

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) adjust the rates or charging method pursuant to relevant agreements under the Fund Contract. The Fund Manager shall make announcement on the Designated Medium two days before the new rates or charging method take effect. 4. The Fund Manager and other Sales Institutions can offer certain concessions on the sales fee of the Fund to the extent that it would not violate the requirements under the laws or constitute a default under the Fund Contract. Please refer to relevant announcements or notices published by the Fund Manager or other Sales Institutions for relevant requirements and procedures of the preferential rates of subscription fee and redemption fee.

8.8 Calculation of Number of Units Subscribed and Redemption Amount 1. Calculation of Number of Class A Units of the Fund Subscribed Subscription amount of Class A Units of the Fund includes subscription fee and net subscription amount. （1）When Investors choose to pay the front-end upfront subscription fee, the number of Units subscribed is calculated as follows: Net Subscription Amount = Subscription Amount/(1+ front-end Subscription Fee Rate) Front-end Subscription Fee = Subscription Amount – Net Subscription Amount Number of Units Subscribed = Net Subscription Amount/NAV per Unit on the date of subscription Example: An Investor invests 100,000 Yuan in the Class A Units of the Fund and chooses to pay Front-end subscription fee at a rate of subscription fee of 1.8%. Assuming that the NAV per Unit on the date of subscription amounts to 1.016 Yuan, the number of Units the Investor entitled to is as follows: Net subscription amount = 100,000/ (1+1.8%) = 98,231.83 Yuan Front-end subscription fee = 100,000－98,231.83＝1,768.17 Yuan Number of Units Subscribed = 98,231.83/1.016 = 96,684.87 Units i.e. An Investor invests 100,000 Yuan in the Class A Units of the Fund, and chooses to pay front-end subscription fee. Assuming that the NAV per Unit of the Fund on the date of subscription is 1.016 Yuan, 96,684.87 Units will be allocated to the Investor. （2）When Investors choose to pay the back-end subscription fee, the number of Units subscribed is calculated as follows: Number of Units Subscribed = Subscription Amount/ NAV per Unit on the date of subscription When Investors apply to redeem their Units, back-end subscription fee shall be calculated as follows: Back-end subscription fee = Number of Units redeemed x NAV per Unit on the date of subscription x rate of Back-end subscription fee rate Example: An Investor invests 100,000 Yuan in the Class A Units of the Fund, and chooses to

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) pay back-end subscription fee. Assuming that the NAV per Unit on the date of subscription is 1.016 Yuan, the number of Units the Investor entitled to is as follows: Number of Units Subscribed =100,000/1.016=98,425.19 Units i.e. If an Investor who chooses to pay back-end subscription fee invests 100,000 Yuan in Class A Units of the Fund, and assuming that the NAV per Unit on the date of subscription is 1.016 Yuan, 98,425.19 units will be allocated to the Investor.

2. Calculation of Redemption Amount of Class A Units of the Fund （1） When the Investors choose to pay the front-end initial subscription fee /subscription fee when subscribing, the redemption amount is calculated as follows: Redemption Amount = Number of Units Redeemed × NAV per Unit on the date of Redemption x redemption fee rate Redemption Amount = Number of Units Redeemed × NAV per Unit on the date of Redemption - redemption fee Example: An Investor chooses to redeem 100,000 Class A Units of the Fund at redemption fee rate of 0.5%. Assuming that the NAV per Unit on the date of subscription is 1.016 Yuan, the redemption amount is calculated as follows: Redemption Amount ＝100,000×1.016×0.5%＝508 Yuan Redemption Amount =100,000×1.016－508＝101,092 Yuan i.e. An Investor redeems 100,000 Class A Units of the Fund, and holds them for 6 months (redemption fee rate being 0.5%). Assuming that the NAV per Unit is 1.016 Yuan, the redemption amount is 101,092 Yuan. （2） When the Investors choose to pay back-end initial subscription /subscription fee when subscribing, the redemption amount is calculated as follows: Back-end Initial Subscription /Subscription fee＝Number of Units Redeemed × NAV per Unit on the date of (Initial) Subscription x Back-end (Initial) Subscription fee rate Redemption Fee= Number of Units Redeemed x NAV per Unit on the date of Redemption x redemption fee rate Redemption Amount = Number of Units Redeemed x NAV per Unit on the date of Redemption - Back-end (Initial) Subscription /Subscription fee – redemption fee Example: An Investor invests 100,000 Yuan to subscribe Class A Units of the Fund and the holding period is 6 months, the corresponding redemption fee rate is 0.5%, the corresponding back-end subscription fee rate is 2.0%. Assuming that the NAV of the Units on the date of Redemption is 1.036 Yuan, if the NAV of the Units on the date of Subscription is 1.016 Yuan, the investor may receive a redemption amount calculated as follows: Back-end Subscription Fee =100,050×1.00×2.0%=2,001.00 Yuan Redemption Fee =100,050×1.036×0.5%=518.26 Yuan

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Redemption Amount =100,050×1.036－2,001－518.26=101,132.54 Yuan i.e. The redemption amount payable to the Investor is 101,132.54 Yuan. Example: An Investor redeems 100,000 Class A Units of the Funds within 1 year at the rate of redemption fee of 0.5% and the rate of Back-end subscription fee of 2.0%. Assuming that the NAV per Unit on the date of Redemption is 1.036 Yuan and the NAV per Unit on the date of subscription is 1.016 Yuan, the redemption amount is calculated as follows: Back-end Subscription Fee =100,000×1.016×2.0%=2,032 Yuan Redemption Fee =100,000×1.036×0.5%=518 Yuan Redemption Amount =100,000×1.036－2,032－518=101,050 Yuan i.e. The redemption amount payable to the Investor is 101,050 Yuan. 3. Calculation of Number of Class C Units of the Fund Subscribed When Investors choose to subscribe Class C Uinits, the number of Units subscribed is calculated as follows: Number of Units Subscribed = Net Subscription Amount/NAV per Unit on the date of subscription Example: An Investor invests 100,000 Yuan in the Class C Units of the Fund and assuming that the NAV per Unit on the date of subscription amounts to 1.016 Yuan, the number of Units the Investor entitled to is as follows: Number of Units Subscribed = 100,000/ 1.016 = 98,425.19 Units

4. Calculation of Redemption Amount of Class C Units of the Fund （1） When the Investors choose to subscribe Class U Units, the redemption amount is calculated as follows: Redemption Fee= Number of Units Redeemed x NAV per Unit on the date of Redemption x redemption fee rate Redemption Amount = Number of Units Redeemed x NAV per Unit on the date of Redemption – redemption fee Example: An Investor invests 100,050 Yuan to subscribe Class C Units of the Fund and the holding period is more than 30 days, the corresponding redemption fee rate is 0%. Assuming that the NAV of the Units on the date of Redemption is 1.036 Yuan, the investor may receive a redemption amount calculated as follows: Redemption Fee =100,050×1.036×0%=0 Yuan Redemption Amount =100,050×1.036－0=103,651.80 Yuan

5. For details of the calculation of the subscription and redemption fees of Class H Units of the Fund, please see supplementary documents to the Prospectus or further announcement. 6. Calculation of the NAV per Unit The NAV per Unit for Class A Units, Class C Units and Class H Units of the Fund shall be

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) separately calculated. The NAV per Unit of different classes of units at Day T shall be calculated after the close of trading on that day and announced at Day T+1 respectively. Under special circumstances, the calculation and announcement may be postponed properly, with the approval from CSRC. The NAV per Unit of various classes of Units is calculated and rounded to 4 decimal points. 7. Number of subscribed Units and the balance of subscription amount The number of valid subscribed Units is calculated on the basis of subscription amount actually confirmed after corresponding fee and the NAV per Unit of that class of Units on the date of subscription. The calculation result of the number of subscribed Units is rounded to 2 decimal points and the remaining part is credited to the assets of the Fund; while the calculation result of the monetary amount is rounded to 2 decimal points and the gain or loss arising therefrom shall be borne by the Fund with its assets. 8. Calculation of the balance of redemption amount The redemption amount is calculated on the basis of validly redeemed Units actually confirmed and the NAV per Unit of various classes of unit on the date of Redemption. The calculation result is rounded to 2 decimal points and any calculation error arising therefrom is credited to the assets of the Fund.

8.9 Registration of Subscription and Redemption After the Investors have Subscribed the Units successfully, the Registration Institution shall register the increase in rights and interests for Investors on Day T+1, and the Investors are entitled to redeem such part of the Units as from Day T+2 (inclusive). After the Investors have redeemed the Units successfully, the Registration Institution shall register the decrease in rights and interests for Investors on Day T+1. The Fund Manager shall, within the scope permitted by the Laws and Regulations, adjust the time for the above registration without causing any material impact on the Investors’ interests, and shall, at least 2 business days prior to the implementation, make an announcement on the Designated Medium.

8.10 Rejection or Suspension of Subscription Except for the following circumstances, the Fund Manager shall not reject or suspend the Investors’ applications for subscription of the Fund: （1）the Fund cannot normally operate due to force majeure; （2）the stock exchanges suspend trading abnormally during trading hours, which makes the calculation of the NAV of the Fund impossible on such date; （3）the size of the Fund assets becomes too large for the Fund Manager to look for suitable investment or becomes harmful to the performance of the Fund, which in turn impairs the interests of existing Unitholders;

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（4）other circumstances in which subscription could be suspended as required under the Laws and Regulations or as deemed necessary by the CSRC; （5）when assets amounting to more than 50% of the NAV of the Fund had no referable active market price on the preceding valuation day, and even applying valuation techniques shall still lead to significant uncertainty in the fair value, the Fund Manager, after negotiation with and confirmation from the Fund Custodian, shall suspend accepting subscription applications. （6）the acceptance of a single or multiple subscription applications may cause the percentage of Units held by a single investor to reach 50% or more of total number of Units, or may allow investors to virtually avoid the abovementioned 50% percentage requirement. （7）such single Subscription could prejudice the interests of existing Unitholders. In case of any of the above circumstances, all amount of the subscription amount shall be returned to the Investors. In case of the above circumstances (1) to (4), the Fund Manager shall make a subscription suspension announcement in relation to the suspension of subscription on the Designated Medium. Under the circumstance provided under item (6), the Fund Manager may use percentage confirmation or other methods to restrict such investor’s subscription applications. The Fund Manager is entitled to reject all or part of such applications. If the Hong Kong Sales Institutions otherwise provide for the Subscription for Class H Units, such provisions shall prevail. The Fund Manager shall promptly resume the Subscription when the above circumstances no longer exist and make an announcement on the Designated Medium as required. Apart from the above circumstances of rejection or suspension of subscription provided by the Fund Contract, the Fund Manager may reject or suspend accepting applications for subscription of Class H Units if the following circumstances arise. In case the application for subscription by Investors is rejected, the rejected subscription amount (excluding interest) will be returned to Investors. （1）The RMB cross-border amount of all mutually recognized funds in the Mainland has reached or exceeded the overall quota limit set by the government; （2）Class H Units of the Fund takes up more than 50% of fund assets; （3）Other circumstances under which subscription may be suspended as required by laws and regulations or required by SFC. When subscription is suspended as described above, the Fund Manager should immediately report to CSRC and SFC and inform the Hong Kong Representative. The Hong Kong Sales Institutions will be notified by the Hong Kong Representative or the Fund Manager. Suspension announcement should be published on the designated medium within the required period.

8.11 Suspension of Redemption or Deferral of Redemption Payment Except for the following circumstances, the Fund Manager shall not reject or suspend the redemption application from Unitholders or defer the payment of redemption proceeds: （1）the Fund Manager is not able to pay the redemption proceeds due to force majeure;

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（2）the Stock Exchanges suspend trading temporarily according to laws, which makes the Fund Manager impossible to calculate the NAV of the Fund on such date; （3）Continuing massive redemption occurs for 2 or more successive Open Days due to high market volatility or other reasons, which makes it difficult for the Fund to make cash payment; （4）when assets amounting to more than 50% of the NAV of the Fund had no referable active market price on the preceding valuation day, and even applying valuation techniques shall still lead to significant uncertainty in the fair value, the Fund Manager, after negotiation with and confirmation from the Fund Custodian, shall suspend accepting subscription applications or defer the payment of redemption amount. （5）other circumstances as required under the Laws and Regulations or as deemed necessary by the CSRC. In case of any of the above circumstances, the Fund Manager shall immediately, on the same day, make a report to the CSRC for filing. For the redemption applications that have been accepted, the Fund Manager shall make full payment; if full payment cannot be made for all the accepted applications of redemption for the time being, payment can be deferred and the Fund Manager shall make pro rata payments according to the ratio between the amount of each accepted redemption applications and the total amount of the accepted redemption applications. The remaining portion of the redemption amount shall be paid by the Fund Manager on the Open Day thereafter in accordance with the corresponding procedure for related situations. In addition, in case of (3), delay in payment of redemption proceeds for accepted redemption application shall not exceed 20 Business Days and the Fund Manager shall make announcement on the Designated Medium. Investors can choose to cancel the rejected part of the redemption beforehand when making redemption application. The Fund Manager shall promptly make a suspension of redemption announcement on the Designated Medium for the suspension of redemption. The Fund Manager shall promptly resume the redemption when the above situations no longer exist and make an announcement on the Designated Medium as required.

8.12 Determination and Handling of Massive Redemption 1. Determination of Massive Redemption A massive redemption occurs when the Net Number of Units redeemed (i.e. the total number of units redeemed plus the total number of units switched-out in fund switching minus total number of units subscribed and total number of units switched-in in fund switching) on a single Open Day exceeds 10% of the Total Number of Units on the preceding Open Day. 2. Handling of Massive Redemption In case of a Massive Redemption, the Fund Manager may decide to accept all the redemption applications or to defer part of the redemption applications based on the status of the asset portfolio at that time.

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（1）Redemptions in full: If the Fund Manager believes it is able to pay for all the redemption applications of the Investors, the regular redemption procedure shall be followed. （2）Partial deferral of redemption: When the Fund Manager believes there are difficulties with payment for all the redemption applications, or believes that the payment for all the Redemptions may cause drastic fluctuations to the NAV per Unit, the Fund Manager may defer the payment for part of the redemption applications, provided that the total number of the Units redeemed on that day is not less than 10% of the total Units of the preceding day. The Fund Manager shall make pro rata payments for the redemption applications based on the ratio between the amount of each redemption application and the total amount of the redemption applications on that day. Unless at the time of submitting an application for Redemption, an Investor has chosen to withdraw the portion that is not accepted on the same day, the unaccepted portion of the applications shall be deferred to and calculated at the NAV per unit of the next Open Day for Redemption. If Massive Redemption occurs for the Fund, in case a single Unitholder makes a redemption application of Units involving more than 50% of the total number of Units, the Fund Manager may defer the handling of the redemption application. If the Fund Manager defers handling of redemption application for the part exceeding 50% of the total number of Units, the deferred redemption application will be handled together with redemption applications of the next Open Day with no priority and the redemption amount will be calculated based on the NAV of the Units at the time of the next Open Day, so on and so forth, until full redemption; if the Fund Manager only accepts the redemption application for the part of 50% of the total number of Units, the Fund Manager may handle such valid part of the redemption application together with redemption applications of other Unitholders according to the abovementioned prescribed method “(1) Redemptions in full” or “(2) Partial deferral of redemptions”. Unitholders when applying for redemption may decide in advance whether to revoke the part which may not be entertained on that day; for the deferred part of the redemptions which the Unitholders decide to cancel, the part of the redemption application not entertained on that day shall be revoked. If the Unitholders have not made a decision when submitting the redemption application, the part not yet redeemed by the investor shall be automatically handled as deferred redemption. Other regulations of Hong Kong Sale Institutions in respect of options of Class H Unit investors shall be handled according to the regulation. The deferred portion of any redemption application does not enjoy any priority for Redemption until all the applications are satisfied. The deferred portion of any redemption application shall not be subject to the minimum number for single redemption application. （3）Announcement on Massive Redemption: In case of a deferred redemption and deferred handling as set out above, the Fund Manager shall notify the Unitholders of the treatment of massive redemption by way of mail, fax or other methods as set out in the Prospectus within 3 trading days and shall make an announcement within 2 days on the Designated Medium. If the Fund encounters a Continuing massive redemption for more than two consecutive Open

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Days, the Fund Manager may suspend the acceptance of redemption applications if necessary. Payment of the Redemption applications for those accepted redemption applications may be deferred, but the deferral period shall not exceed 20 Business Days at the most, and the Fund Manager shall make an announcement on the Designated Media.

8.13 Treatment of Suspension of Subscription and Redemption under Other Circumstances If there occurs any matter not covered in the Fund Contract and the Prospectus and the Fund Manager has the legitimate reasons to believe it is necessary to suspend accepting the application of subscription and redemption, the Fund Manager is only allowed to do so through lawful procedures.

8.14 Announcement on Resumption for Subscription or Redemption The Fund Manager shall, depending on how long the suspension of subscription or redemption lasts, no later than the resumption day issue a resumption announcement on the Designated Medium for the re-opening for Subscription or Redemption pursuant to the Information Disclosure Measures; or the Fund Manager shall, depending on the actual circumstances, specify the resumption of subscription or redemption date in the suspension announcement, and no longer need to separately issue a resumption announcement.

8.15 Fund Switching The Fund Manager has assigned Sales Outlets and certain Sales Agencies to switch Units between the Fund and some of the funds under the management of the Fund Manager. For details, please refer to the announcement dated 20 November 2008, Announcement on opening of fund switching between the Units of China Southern Selected Value Equity Securities Investment Fund and the Units of Other Funds, and other announcement about the Switching of Units.

8.16 Transfer of Custody of the Fund Currently, the Fund is traded under the regime of custody of units. Investors can transfer the Units from one trading account to another for transaction. For specified procedure, please refer to the requirements of the Business Rules, and the business rules of the Sales Agency of the Fund.

8.17 Regular Investment Plan The Fund Manager has assigned Sales Outlets and certain Sales Agencies to operate Regular Investment Plan for the Fund and some of the funds under the management of the Fund Manager. For details, please refer to the announcement dated 20 November 2008, Announcement in Relation to the Operation of the Regular Investment Plan of China Southern Selected Value Equity Investment Fund, and other announcement about the Regular Investment Plan of the Fund.

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8.18 Non-trading Transfer of the Fund Non-trading transfer refers to the transfer of a certain number of Units from the account of an Investor to the account of another Investor in accordance with certain procedures without Subscription or Redemption. The Registration Institution only accepts the applications for non-trading transfer including inheritance, donation, judicial enforcement and other legal circumstances recognized by the Registration Institution. “Inheritance” refers to the situation where a Unitholder is deceased and his Units are inherited by his legal successor. “Donation” refers to the situation where a Unitholder donates his legally held Units to “any charity funds or other social groups of social public interest nature. “Judicial enforcement” refers to the situation where a judicial body compulsorily transfers the Units of a Unitholder to another natural person, legal person or organization according to a valid judicial document. Under whatever situation stated above, the transferee shall satisfy the conditions for Investors to hold the Units as required under relevant Laws and Regulations and the Fund Contract. To transact the non-trading transfer, applicable materials that meet the requirements must be provided to the Registration Institution. The Registration Institution is responsible for the non-trading transfer under the above circumstances and non-trading transfer shall not be carried out by other Sales Institutions. For those applications that satisfy the conditions of non-trading transfer shall be carried out in accordance with Business Rules.

8.19 Freezing and de-freezing of the Fund Fund Registration Institution only accepts the freezing and de-freezing of Units as required by competent authorities in compliance with applicable law or as voluntarily requested by the Unitholders or under other circumstances recognized by the Fund Registration Institution. Once the Units are frozen, the interest accruing from the frozen Units shall be frozen and the frozen Units are still entitled to payment of distribution. 8.20 Others Some businesses agreed in this section are currently not open to investors of Class H Units. For details, please see supplementary documents to the Prospectus or our further announcement.

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§ 9 Fund Investment

9.1 Investment Objective The Fund is a mixed fund and it invests in China companies listed on the Shanghai and Shenzhen Stock Exchanges which have good asset backing and value release conditions (with profitability being sustainable and stable or business being in reversals) by way of bottom-up selecting method with moderate risk exposure and steady liquidity for the purpose of long-term and stable increase in asset value of the Fund.

9.2 Investment Scope The Fund invests in liquid financial instruments encompassing Mainland listed stocks (including depositary receipts (same as below), bonds and other financial instruments in the Mainland market which the relevant laws, regulations and the CSRC permits the Fund to invest in. The portfolio of the Fund consists of: stocks (including depositary receipts) shall account for 60%-95% of Fund’s assets, of which investment in Value Stocks (as defined below) shall be no less than 80% of the Funds equities investment; bonds, money market instruments and other financial instruments shall account for 0-35% of Fund’s assets; warrants shall be between 0-3% of Fund’s assets; asset-backed securities (0-20% of Fund’s assets); and cash retained by the Fund and government bonds maturing within 1 year shall in aggregate be no less than 5% of the NAV of the Fund, among which cash shall exclude deposit reservation for balance, refundable deposits and receivable subscription accounts etc.. If the Laws and Regulations or the regulatory authority allows the Fund to invest in other types of investment in the future, the Fund Manager may include such types of investment into its investment scope.

9.3 Investment Philosophy The Fund follows the principle of valued of investment. The Fund seeks for securities which fulfill the criteria of “valued of investment” as defined by the Fund through in-depth research to uncover the value of listed companies, maintains a moderate risk/return ratio and mitigates investment risks by building scientific investment portfolio to focus on long-term investment in order to materialize the long-term and stable increase in asset value of the Fund.

9.4 Investment Strategies (I) Asset Allocation Strategies The Fund Manager analyzes the current systematic risks of the securities market and the expected risk and expected return rate of each major type of assets in the securities market in foreseeable future, and on the basis of it, determine the allocations for different types of assets,

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) including stocks, bonds and cash, and the principles and scope for adjustment, and such adjustment will be made regularly or on ad-hoc basis to eliminate risk and increase return.

(II) Stock Investment Strategies The Stock investment of The Fund selects a “bottom-up” approach by comparing the current book asset value and the investment value of listed companies (adjusted P/B, ROE will also be considered). On this basis, the Fund chooses to invest primarily in those listed companies which have potential to unlock value (with stable earnings and profitability can be maintained or are about to turnaround, and earnings growth exceeding GDP growth for next 2 years). The Fund also conducts a “top-down” industrial analysis to identify the systematic conditions which can change the potential to unlock value of individual stocks based on the macroeconomic environment, the business condition of upstream and downstream industry and income distribution. Thus, the Fund can establish a quality portfolio with minimal risks. 1. Definition of “Value Stocks” “Value Stocks” mean the stocks having the following characteristics: （1）The investment value in such stock is guaranteed by the existing book asset value of the listed company. According to the categorization criteria for industries issued by CSRC, the net asset values of the listed companies are aligned based on the accounting principles and accounting standards universally acceptable to all industries. P/B ratios are then calculated on the adjusted net asset values for listed companies of all industries. The adjusted P/B ratios will be sorted in ascending order. Stocks ranked in the first 50 percentiles in the various industries will preliminarily be selected. Then the Fund will the further pick out those stocks with at least 8% ROE. （2）Listed companies that have continuously stable profitability or are about to turnaround and are able to unlock value in future. Among the listed companies fulfilling the above conditions, the Fund will select those individual stocks with expected earnings growth exceeding GDP growth for next two years. The Fund follows the above criteria to select stocks and build a “Pool of Selected Value Stocks”. 2. Choosing individual stocks by “bottom-up” approach The Fund utilizes the qualitative and quantitative method with a focus on the existing asset value and potential to unlock value in future to select quality stocks from the “Pool of Selected Value Stocks” for building its portfolio （1）For the analysis of the existing asset value of the listed companies, the Fund places emphasis on the composition of the net asset value, adjusted net asset value and the replacement value of assets. Analysis of composition of the net asset value mainly refers to the breakdowns of assets and liabilities of the companies to determine the embedded value of the companies. Analysis of adjusted net asset value refers to the real asset value used to compare companies in different industries by aligning and adjusting the net asset values of different companies in different industry

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The Fund selects quality stocks for mid-to-long term investment according to its judgment of macroeconomic trend and market development, together with active capturing of range trading. During operation, the Fund pays serious attention to risk control with dynamic adjustment by promptly removing those individual stocks with deteriorating fundamentals and overvalued stocks and replacing them with quality stocks with investment value. The Fund tracks the performance of selected stocks included in the pool and regularly reassesses the listed companies with reference to their publicly disclosed information and the research findings of the Fund to promptly remove those stocks not meeting the criteria. 3. Selecting industries with “top-down” approach The Fund analyzes industries with a “top-down” approach when examining a listed company. The Fund determines the advantage or prosperity of an industry with reference to the macroeconomic environment, development of the upstream and downstream operation and distribution of profits and identifies the systematic conditions that can change the potential to unlock value of an individual stock for building a quality portfolio while minimizing risks. When selecting an industry, the Fund focuses on five aspects: （1）The prosperity of the macro-economy and its stage in the economic cycle, the analysis of which mainly focuses on the components and drivers and of economic growth and prosperity to identify the industry with enormous room for growth and with highest flexibility and the industry favoured most during economic transformation. （2）Change in monetary policy, analysis of which mainly focuses on the different stages of interest rate, exchange rate, fiscal and monetary policies to identify the industry favoured most in current stage. （3）Change in industrial policy and the development environment, analysis of which mainly focuses on the different stage of the policies and environment in different countries to identify the industry supported and encouraged by policy and favoured by continuously improving development environment to grasp the rapid development opportunity in the industry. （4）Changes of the development cycle of the industry and its position in the industrial chain, the dynamic analysis of which mainly focuses on the development cycle of the industry and relationship between upstream and downstream industry players and their bargaining power to identify the recovering or further strengthening industries. （5）Industries with undervalued assets or huge revaluation potential during the process of appreciation of RMB. 4. Investment strategy for depository receipts The Fund will formulate its investment strategies in depositary receipts in accordance with applicable laws, regulations and regulatory requirements, it will review the information disclosures made by the issuers for depositary receipts, pay attention to the fundamentals and market valuations of the issuers, using both the qualitative and quantitative analysis before participating in depositary receipts investment and deciding on the weighting allocation and selection of depositary receipts.

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(III) Bond Investment Strategies Bonds available for investment by the Fund include treasury bonds, financial bonds and corporate bonds (including convertible bonds). The Fund will make the best asset allocation and risk control with its judgement to the trend of interest rate. When selecting the types of bonds, the Fund focuses on the credit rating of the bond issuer, including solvency, financial structure and safety of the issuer and guarantor. Also, the Fund compiles a yield curve with reference to the research findings from different types of bonds with different duration. Finally, the best bond portfolio is built with duration model to mitigate the interest rate risk. For the investment in convertible bonds, the Fund seeks for the opportunity for arbitrage with reference to the momentum of the stock. (IV) Warrant Investment Strategies When investing in warrants, the Fund studies the fundamentals of the underlying assets of the warrants and identifies the reasonable value of the warrants by warrant pricing method. Main strategies applied by the Fund include: leverage strategy, value digging strategy, profit-protecting strategy, ask-bid spread strategy, straddle strategy, short-sell protecting strategy for call warrant and cover call strategy for put warrant. The Company will thoroughly consider the rate of return, liquidity and risk profile of the warrants for selection and prudently make investment through asset allocation, type and nature to pursuit stable income for current period.

9.5 Investment Portfolio Report of the Fund The board of directors and directors of the Fund Manager warrants that there is no false statement, misleading information or major omission of the information contained in the report, and shall assume separate and joint responsibilities for the truth, accuracy and integrity of the report. The Fund Custodian, has reviewed the financial indicators, performance of net asset value and Investment Portfolio Report in the report pursuant to the Fund Contract and guarantees that there exists no false statement, misleading information or major omission in the report. The Fund Manager guarantees that it will manage and utilize the assets of the Fund in good faith and with creditability and due diligence. However, there is no guarantee that the Fund would generate profits. The past performance of the Fund is not an indicator of future performance. Investment involves risks. Investors shall read the Prospectus of the Fund carefully before making any investment decision. The data presented in the Investment Portfolio Report are prepared as at 31 March 2020 (unaudited). 1 Fund asset portfolio at the end of the reporting period No. Items Amount (Yuan) Percentage of Total Fund

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Assets (%) 1 Equity Investment 1,225,332,756.53 83.72 of which: Stocks 1,225,332,756.53 83.72 2 Fund Investment - - Fixed Income 70,654,000.00 4.83 3 Investment of which: Bonds 70,654,000.00 4.83 Asset-backed - -

Securities Precious metals - - 4 investment Financial Derivatives - - 5 Investment Buying Back the Sale of 110,000,000.00 7.52 6 Financial Assets of which: Buy-out - -

Resubscription Aggregate of Bank 52,248,981.54 3.57 7 Deposit and Settlement Provisions 8 Other Assets 5,405,161.82 0.37 9 Total 1,463,640,899.89 100.00

2 Stock portfolio categorized by industry at the end of the reporting period 2.1 Stock portfolio categorized by industry at the end of the reporting period Proportion in Fund Code Industry Category Fair Value (Yuan) NAV (%) Agriculture, Forestry, - - A Animal Husbandry and Fishery B Mining Industry - - C Manufacturing Industry 794,306,223.90 55.38 Electricity, Heating - - D Power, Gas and Water Production and Supply E Construction Industry - - F Wholesale and Retail 19,147.31 0.00

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Transportation, Storage - - G and Postal Service Industry Hotels and Catering - - H Services Information 342,929,739.92 23.91 I Transmission, Software and IT Services J Financial Industry 14,611,638.84 1.02 Real Estate Investment - - K and Development Leasing and Commercial - - L Services Scientific Research and - - M Technology Services N Water Conservancy, 7,401,057.68 0.52 Environment and Administration of Public facilities O Neighborhood Services, - - Repair and Other Services P Education 7,270,461.00 0.51 Q Hygiene and Social 36,017,971.88 2.51 Affairs R Cultural, Sports and 22,776,516.00 1.59 Entertainment S Total - - Total 1,225,332,756.53 85.43

2.2 Stock Connect stock portfolio categorized by industry at the end of the reporting period Note: The Fund did not hold any Stock Connect stock at the end of the reporting period.

3 Top 10 stocks ranked by the proportion of fair value in the Fund NAV at the end of the reporting period

Proportion in Quantity Fair Value No. Stock Code Stock Name Fund NAV (units) (Yuan) (%) 1 600276 Jiangsu Hengrui 1,107,146 101,890,646. 7.10

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Medicine 38 2 300559 Chengdu 2,749,720 77,817,076.0 5.43 Jiafaantai 0

3 300601 BioKangtai 650,068 74,497,792.8 5.19 0 4 300529 Jafron 659,902 62,472,922.3 4.36 Biomedical Co 4 5 002439 Venustech 1,565,317 57,916,729.0 4.04 Group 0 6 002475 Luxshare 1,463,624 55,851,891.8 3.89 Precision 4 7 688111 Beijing Kingsoft 238,356 53,510,922.0 3.73 Office 0 8 300696 Chengdu ALD 1,300,065 49,714,485.6 3.47 Aviation 0 9 000661 Changchun 88,219 48,344,012.0 3.37 High & New 0 Tech Industry Inc 10 300253 Winning Health 2,275,893 47,725,476.2 3.33 Technology 1

4 Bond portfolio categorized by bond types at the end of the reporting period

No. Type of Bond Proportion in Fund NAV Fair Value (Yuan) （％） 1 Government Bonds - - 2 Central Bank Bills - - 3 Financial Bonds 70,654,000.00 4.93 of which: Policy Financial 70,654,000.00 4.93 Bonds 4 Enterprise Bonds - - 5 Enterprise Short-term - - Financial Bills 6 Medium Term Notes - - 7 Convertible Bonds - - (Exchangeable Bonds) 8 Interbank Deposits - - 9 Others - - 10 Total 70,654,000.00 4.93

5 Top 5 bonds ranked by the proportion of fair value in the fund NAV at the end of the reporting period

Bond Bond Quantity Proportion in Fund NAV No. Fair Value (Yuan) Code Name (Pcs) (%) 1 170209 17 Guokai 500,000 50,570,000.00 3.53 09 2 018007 Guokai 100,000 10,075,000.00 0.70 1801 3 108602 Guokai 100,000 10,009,000.00 0.70 1704 155

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6 Top 10 asset-backed securities ranked by the proportion of fair value in the Fund NAV at the end of the reporting period Note: The Fund did not hold any asset-backed securities at the end of the reporting period.

7 Top 5 precious metals ranked by the proportion of fair value in the Fund NAV at the end of the reporting period Note: The Fund did not hold any precious metal at the end of the reporting period.

8 Top 5 warrants ranked by the proportion of fair value in the Fund NAV at the end of the reporting period Note: The Fund did not hold any warrant at the end of the reporting period.

9 Transactions of stock index futures invested by the Fund at the end of the reporting period

9.1 Position and balance of stock index futures invested by the Fund at the end of the reporting period Note: nil

9.2 Investment strategy of the Fund investing in stock index futures Note: nil

10 Transactions of the treasury bond futures invested by the Fund at the end of the reporting period

10.1 Investment strategy of investing in treasury bond futures during the reporting period Nil 10.2 Position and balance of treasury bond futures held by the Fund at the end of the reporting period Nil 10.3 Grading of the treasure bond futures held by the Fund during the reporting period Nil

11 Notes to the Investment Portfolio Report

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11.1 Please declare whether the issuers of the top 10 securities the Fund invests in was found being under investigation made by the regulatory authorities in the current period or being publicly condemned or punished within one year prior to the date when the report was prepared. If so, please provide a description on the procedure of investment decision in respect of the relevant security. None of the issuers of the top 10 securities the Fund invests in was found being under investigation made by the regulatory authorities in the current period or being publicly condemned or punished within one year prior to the date when the report was prepared.

11.2 Please declare whether the top 10 stocks that the Fund invests in are outside the pool of stocks for selection as stipulated in the Fund Contract. If so, please provide a description on the procedure of investment decision in respect of the relevant stock.

Top ten stocks invested by the Fund were within the pool of stock for selection as stipulated in the Fund Contract, the Fund Manager is required to follow the procedure of investment that is the stocks must be within the pool of stock for selection as stipulated in the Fund Contract prior purchase

11.3 Composition of other assets at the end of period No. Name Amount (Renminbi Yuan) 1 Refundable Deposits 872,940.61 2 Receivables of Securities Clearing - 3 Dividends Receivable - 4 Accrued Interest 1,783,849.69 5 Receivable Subscription Accounts 2,748,371.52 6 Other Receivables - 7 Deferred Expenses - 8 Others - 9 Total 5,405,161.82

11.4 Convertible bonds in conversion period held at the end of the reporting period No Convertible bonds in conversion period held at the end of the reporting period

11.5 Top 10 stocks in restricted circulation at the end of the period Note: Nil.

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9.6 Performance of the Fund The Fund Manager shall manage the fund assets with honesty, good faith, prudence and efficiency, but does not guarantee any profits or minimum returns on the Fund. The Fund's past performance is not indicative of its future performance. Investment involves risk. Before investing in this Fund, investors are advised to read through the Prospectus.

China Southern Selected Value Mixed A Standard Standard Return of deviation of deviation Performance return of Growth rate of growth （1）- （2）- Period Measurement Performance of NAV（1） rate of （3）（4） Benchmark Measurement NAV （3） Benchmark （2）（4）

2008.6.18-2008.12.31 -3.60% 0.96% -31.27% 2.43% 27.67% -1.47% 2009.1.1-2009.12.31 66.84% 1.70% 73.60% 1.64% -6.76% 0.06% 2010.1.1-2010.12.31 20.66% 1.39% -9.12% 1.26% 29.78% 0.13% 2011.1.1-2011.12.31 -25.81% 1.04% -19.67% 1.04% -6.14% 0.00% 2012.1.1-2012.12.31 12.09% 1.09% 7.04% 1.02% 5.05% 0.07% 2013.1.1-2013.12.31 12.85% 1.07% -5.30% 1.11% 18.15% -0.04% 2015.1.1-2015.12.31 69.66% 2.63% 6.98% 1.99% 62.68% 0.64% 2016.1.1-2016.12.31 -18.40% 1.82% -8.16% 1.12% -10.24% 0.70% 2017.1.1-2017.12.31 21.39% 0.82% 17.32% 0.51% 4.07% 0.31% 2018.1.1-2018.9.30 -12.49% 1.29% -11.08% 0.98% -1.41% 031% 2018.1.1-2018.12.31 -22.38% 1.37% -19.66% 1.07% -2.72% 0.30% 2019.1.1-2019.12.31 53.97% 1.26% 29.43% 1.00% 24.54% 0.26% 2020.1.1-2020.3.31 4.49% 2.35% -7.51% 1.56% 12.00% 0.79% Since the establishment 416.60% 1.47% 38.18% 1.31% 378.42% 0.16% of the Fund

China Southern Selected Value Mixed H Standard Standard Return of deviation of Growth deviation Performance return of （ 1 ） - （ 2 ） - Period rate of of growth Measurement Performance （）（） NAV（1） rate of Benchmark Measurement 3 4 NAV（2）（3） Benchmark （4） 2016.7.18- -3.39% 0.74% 1.44% 0.60% -4.83% 0.14% 2016.12.31

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2017.1.1- 21.36% 0.82% 17.32% 0.51% 4.04% 0.31% 2017.12.31 2018.1.1- -22.36% 1.37% -19.66% 1.07% -2.70% 0.30% 2018.12.31 2019.1.1- 53.91% 1.26% 29.43% 1.00% 24.48% 0.26% 2019.12.31 2020.1.1- 4.56% 2.35% -7.51% 1.56% 12.07% 0.79% 2020.3.31 Since the 46.49% 1.24% 14.46% 0.92% 32.03% 0.32% establishment of the Fund

China Southern Selected Value Mixed C Standard Return of deviation Standard Performan of return of Growth deviation ce Performan （1）- （2）- Period rate of of growth Measurem ce （3）（4） NAV（1） rate of ent Measurem NAV（2） Benchmark ent （3） Benchmark （4） 2018.11.26 -2.72% 1.24% -3.16% 0.89% 0.44% 0.35% - 2018.12.31 2019.1.1- 52.80% 1.26% 29.43% 1.00% 23.37% 0.26% 2019.12.31 2020.1.1- 4.29% 2.35% -7.51% 1.56% 11.80% 0.79% 2020.3.31 Since the 55.02% 1.50% 15.93% 1.11% 39.09% 0.39% establishm ent of the Fund

9.7 Basis of decision-making and investment procedure (I) Basis of decision-making 1. Related State laws, regulations and related requirements under the Fund Contract. It is the premise of the Fund to invest in accordance with laws; 2. Development of macro-economy and micro-economy and the trend of stock market, which are the basis of the decision-making of the Fund;

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3. The risk return ratio of the investment subject. Investment decision is made with full assessment of the risk and return of the investment subject, which is the important protection for the benefits of the investors of the Fund. (II) Decision-making procedure 1. Determining major investment principles: Investment Decision-Making Committee is responsible for determining the major investment principles of the Fund and providing instructional advice for asset allocation. 2. Market research: the securities analysts select the stocks worthy of attention according to the research report and other sources provided by each consultation agency. Then, they will select those meeting the criteria of value investment from the stocks worthy of attention according to their research findings and recommend the same to the Fund Manager. Such investment recommendation is made according to the research under the instructions of the Fund Manager. 3. Making investment decision: In compliance with the investment principles established by Investment Decision-Making Committee, the Fund Manager makes specific investment decision according to the investment advice made by the securities analyst. 4. Risk assessment: The risk control committee meets regularly and assesses the risk of the portfolio of the Fund and makes advice accordingly. 5. Evaluate and adjust the decision-making process: The Fund Manager shall have the right to make changes to the above investment process according to changes in the market environment and actual demand.

9.8 Investment restrictions (I) Prohibited activities To protect the lawful interests of the unitholders, the Fund shall not engage in the following conducts: 1. Engage in securities underwriting; 2. Provide loans and guarantees to others; 3. Engage in any investment involving unlimited liabilities to the Fund; 4. Invest in other funds, excluding the funds otherwise required by laws and regulations or CSRC; 5. Contribute capital to the Fund Manager or Fund Custodian or investing in stocks or bonds issued by the Fund Manager or Fund Custodian; 6. Invest in or underwrite during the underwriting period the securities issued by the controlling shareholders of the Fund Manager or Fund Custodian or other companies in which the Fund Custodian having material interests; 7. Commit insider trading, and market manipulation and other unlawful securities transaction; 8. Other acts forbidden by prevailing laws and regulations as well as those stipulated in the Fund Contract.

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If the above restrictions removed by laws and regulations as well as the supervisory authorities, the Fund Manager can be released from the above restrictions after appropriate procedures. (II) Restrictions on Investment Portfolio The portfolio of the Fund is subject to the following restrictions: 1. The market value of the shares of a listed company held by the Fund shall not exceed 10% of the NAV of the Fund; 2. The exposure of this Fund and other funds managed by the Fund Manager to a security issued by a company shall not exceed 10% of that security; 3. The balance of the funds for the repurchase of bonds in the interbank market shall not exceed 40% of the NAV of the Fund; 4. The Fund shall not violate the agreement about the scope of investment and investment proportion under the Fund Contract; 5. The total amount of warrants invested in by the Fund on any trading day shall not exceed 0.5% of the NAV of the Fund assets on the preceding trading day. The market value of all the warrants held by the Fund shall not exceed 3 % of the NAV of the Fund. Where the Fund and any other funds managed by the Fund Manager hold the same warrant, the holdings shall not exceed 10% of such warrant. Where the Laws and Regulations or regulatory authorities otherwise provide for the said proportion restrictions, such provisions shall be complied with; 6. Tradable stocks issued by a single listed company as held by all open-ended funds managed by the Fund Manager (including the open-ended funds and periodically open- ended funds that are at open period) shall not exceed 15% of the total tradable stocks of such listed company. Tradable stocks issued by a single listed company as held by all investment portfolios managed by the Fund Manager shall not exceed 30% of the total tradable stocks of such listed company; 7. The total market value of active investment in Illiquid Assets shall not exceed 15% of the NAV of the Fund; where the Fund fails to comply with such ratio limit for any reason not attributable to the Fund Manager, such as the fluctuation of the securities market, the suspension of trading in stocks of the listed company, and the change in Fund size, the Fund Manager shall not actively increase the investments in Illiquid Assets; 8. When the Fund engages in a reverse repurchase transaction with privately offered securities asset management product and other entities prescribed by the CSRC as counterparty, the criteria for collaterals that are acceptable shall remain consistent with the investment scope as stipulated by the Fund Contract; 9. The investment ratio of investment in all types of asset-backed securities of the same original right owner by the Fund shall not exceed 10% of the NAV of the Fund; the market value of all asset-backed securities held by the Fund shall not exceed 20% of the NAV of the Fund; the ratio of the same (same credit rating) asset-backed securities held by the Fund shall not exceed 10% of the size of such asset-backed securities; investment in all 161

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types of asset-backed securities of the same original right owner by all funds managed by the Fund Manager shall not exceed 10% of the total size of such types of asset-backed securities; 10. Where the Fund assets are engaged in stock shares offering, the amount reported by the Fund shall not exceed the total asset size of the Fund. The reported number of shares shall not exceed the total amount of the shares to be offered by such company; 11. The Fund’s investment restriction in depositary receipts shall be based on stocks listed and traded on mainland stock exchanges; 12. Other investment restrictions stipulated by related laws and regulations and supervisory authorities. Except the abovementioned items (7) and (8), if the above restrictions are removed by laws and regulations as well as the supervisory authorities, the Fund Manager can be released from the above restrictions after appropriate procedures. If any factor (other than the Fund Manager), such as fluctuation of stock market, the change of the listed companies’ or the Fund’s size, makes the Fund’s investment proportion become incompliant with the investment proportion required above, the Fund Manager shall make adjustments within ten Business Days. If other provisions are stipulated by the Laws and Regulations, those provisions shall be complied with.

9.9 Benchmark for the comparison of the performance The benchmark for the comparison of the performance: 80% x CSI 300 Index + 20% x SSE Government Bond Index The Fund is a mixed fund. After considering the investment subject, building procedure of the equity portfolio as well as the compilation method and the historical data of each stock index, we have selected CSI 300 Index as the benchmark for the portfolio of the Fund. The component stocks of CSI 300 Index are selected from Shanghai and Shenzhen securities market, which covers most of the market value, and represents the most popular equity investment with the largest liquidity and reflects the overall development of A shares market. The announcement of and adjustment to the component stocks of CSI 300 Index are made by the stock exchange, which is fairer and more authoritative. For the bond portfolio, we have selected the SSE Government Bond Index, the most well-known index in the market, as the benchmark. SSE Government Bond Index is compiled based on the fixed rate bonds listed on the Shanghai Stock Exchange and the index is weighted according to the number of outstanding government bonds. SSE Government Bond Index is the first bond index of SSE indices series, which reflects the overall movement of the government bond market in China with strongest market representation. If there is any change in laws and regulations in future, or the indices compiler ceases to calculate such index or rename the index, or if any new index, which is more authoritative and more generally accepted as the benchmark of performance, is launched, or if any new index is more suitable to be the benchmark of performance of the Fund, the Fund can file to the CSRC and change 162

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) the benchmark with a timely announcement after making an agreement with the Fund Custodian.

9.10 Risk and return characteristics The Fund is a mixed fund and has lower long-term average risk and expected return than equity funds, but higher than bond funds and money market funds.

9.11 The principles and procedures for the Fund Manager to exercise shareholders’ rights on behalf of the Fund 1. Not to control the listed companies and not to involve in the operation and management of the listed companies the Fund invests in; 2. In favour of the safety and appreciation of the Fund’s assets; 3. The Fund Manager shall exercise the shareholders’ rights independently in accordance with related State laws to protect the interests of the Unitholders. 4. The Fund Manager shall exercise the creditors’ rights independently in accordance with related State laws to protect the interests of the Unitholders.

9.12 Margin financing of the Fund The Fund can engage in margin financing in accordance with the related laws and regulations and policies then prevailing.

9.13 Commitment of the Fund Manager and Manger 1. The Fund Manager commits to strictly comply with related laws, regulations, rules, Fund Contract and related requirements issued by CSRC then prevailing and to establish a sound internal control system and adopt effective measures to avoid violating any of the related laws, regulations, rules, Fund Contract and related requirements issued by CSRC. 2. The Fund Manager commits to strictly compile with the Securities Law, Funds Law and related laws and regulations and to establish a sound internal control system and adopt effective measures to avoid violating any of the following acts: （1）Mixing the Fund Manager’s own assets or third party’s assets with the Fund assets in investment in securities; （2）Treating different managed funds' assets unequally; （3）Utilizing the Fund assets to obtain benefits for a third party other than the Unitholders；（4）Illegal promise of income or assumption of losses of the Unitholders; （5）Other activities prohibited by the laws and regulations or CSRC. 3. The Fund Manager commits to improve the management on personnel to improve their professional ethics, supervise and monitor them to comply with related laws, regulations and industrial standards and to be honest and diligent by not to commit any of the following acts: （1）Exceeding one’s legitimate authority or engaging in illegitimate operation;

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（2）Violation of the Fund Contract or Custodian Agreement; （3）Intentionally infringing the legitimate interests of the Unitholders or other institutions related to the Fund; （4）Provision of false content in the materials filed to CSRC; （5）Rejecting, interfering, obstructing or materially influencing the supervision by CSRC; （6）Wilful dereliction of duty or abuse of power;

（7）Violation of the related laws, regulations, rules, Fund Contract and related requirements imposed by CSRC; leaking the business secret of the related securities or the Fund during the term of office, including the investment details not publicly disclosed or investment plan of the Fund;

（8）Violation of the business rules of the stock exchanges, manipulating market price and disrupting the market order by cross trade and rat trading; （9）Derogating other industry participants and bragging of own performance; （10）Pursuit of business development with undue practice; （11）Destroying social morality and the image of participants engaging in securities investment; （12）Wilfully incorporating false, misleading or fraud information in public disclosure or announcement; （13）Other actions prohibited by laws, administrative regulations and the CSRC. 4. Commitment of the Fund Manager （1）Prudently striving for the maximum interests for the Unitholders in accordance with laws, regulations and the requirements under the Fund Contract （2）Not to obtain benefits for itself and its agencies, employees or other third parties by using its power;

（3）Not to violate the related laws, regulations, rules, Fund Contract and the related requirements under CSRC; not to leak the business secret of the related securities or the Fund during the term of office, including the investment details not publicly disclosed or investment plan of the Fund;

（4）Not to engage in securities transaction and other activities infringing the interests of the assets of the Fund and Unitholders.

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§ 10 Fund Assets

I. Total Asset Value of the Fund The Total Asset Value of the Fund refers to the total value of all securities and bills, the principal and interest of the bank deposits, application fee receivable of the Fund and other investments possessed by the Fund. It includes: 1. Bank deposits and accrual interests thereof; 2. Settlement reserve and accrual interests thereof; 3. Guarantee deposits paid according to relevant regulations and accrual interests thereof; 4. Settlement receivables of securities transactions; 5. Subscription fee receivables; 6. Stock investments and the valuation adjustment thereof; 7. Bond investments and the valuation adjustment thereof; 8. Equity investments and the valuation adjustment thereof; 9. Other investments and the valuation adjustment thereof; 10. Other assets.

II. NAV of the Fund The NAV of the Fund is calculated by deducting liabilities from the GAV of the Fund.

III. Fund Asset Account The Fund shall set up the settlement account in the name of the Fund Custodian specifically for the custody of funds for settlement of Fund transactions, set up joint Fund securities account in the names of the Fund Custodian and the Fund, set up interbank bond custody account in the name of the Fund, and file to the People’s Bank of China. The account specifically for the Fund so set up shall be separated from the respective self-owned asset accounts of the Fund Manager, the Fund Custodian, the Sales Agency and the Fund Registration Institution as well as other fund asset accounts.

IV. Keeping and Disposal of Fund Assets The Fund’s assets are separated from the assets owned by the Fund Manager, the Fund Custodian and the Sales Agency, and are kept by the Fund Custodian. All assets of the Fund shall not be kept by the Fund Manager and Fund Custodian in their own accounts. All the assets and revenue received from the Fund’s management, operation or otherwise by the Fund Manager and the Fund Custodian belong to the assets of the Fund. In the event that the Fund Manager, the Fund Custodian, the Fund Registration Institution and the Sales Agency faces their own legal liabilities pertaining to their own assets, their creditors shall not demand to freeze or detain nor have other rights to the Fund Assets. Should the Fund Manager and the Fund Custodian come under liquidation proceeding because of 165

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) lawful dissolution, being legally revoked or declared bankruptcy, the Fund assets must be separated from its liquidation assets. The Fund Assets shall not be disposed of other than as required under the Laws and Regulations and the requirements of the Fund Contract. Liabilities incurred by the Fund Manager in the course of Fund operation shall not be set off against the liabilities incurred by its fixed assets; the liabilities and debts incurred by the fund assets of different funds operated by the Fund Manager shall not be set off against each other. Debts not borne by the Fund assets themselves shall not be enforced against the assets of the Fund.

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§ 11 Valuation of Fund Assets

I. Purpose of Valuation The valuation of the assets of the Fund shall objectively and accurately reflect whether the value of the Fund’s assets is maintained or appreciated; the NAV per Unit of the Fund, which is calculated from the NAV of the Fund as determined by valuation of the Fund assets forms the basis of calculating the prices of Subscription and Redemption of the Fund.

II. Valuation Day The Valuation Day of the Fund is the normal business days of the relevant stock exchanges and on non-business days when the NAV of the Fund shall be disclosed as required by the Laws and Regulations of the State.

III. Object of Valuation The assets and liabilities such as shares, bonds, warrants and the principal and interests of bank deposits held by the Fund.

IV. Valuation Procedures The NAV of each of the Unit shall be based on the valuation of after the close of trading, the NAV divided by the number of Unit shall be calculated up to 0.001 and rounded off from the fourth decimal place. The Fund Manager shall follow the valuation procedures as required by the Laws and Regulations. The Fund Manager conducts daily valuation of the Fund. The Fund Manager shall disclose and give notice at each valuation day the NAV of each class of the Fund. After valuation, the Fund Manager shall send the valuation result of each Class of the Fund sealed by its official stamp and facsimile encrypted and in written form to the Fund Custodian. The Fund Custodian shall then verify the valuation according to the valuation methods, time and procedures required by the Laws and Regulations and specified in the Fund Contract. If the valuation is correct, the Fund Custodian shall return the facsimile written verification result sealed by its official stamp to the Fund Manager. Review of valuation is conducted at the end of the month, the middle of the year and the end of the year at the same time as that of the reconciliation of the accounting books.

V. Valuation methods The Fund is valued in the follow methods: 1. Valuation of negotiable securities listed on stock exchange (1) Negotiable securities (including shares and warrants) listed on the stock exchange shall be valued based on the market price (the closing price) of the stock exchange they are listed on the valuation date; should there be no transaction on the valuation date and no material changes in the

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2. Negotiable securities before listing are treated as follows: (1) For the shares that are offered through bonus issue, additional shares by conversion, placing and public new issue, they shall be valued at the market price (the closing price) of the same share listed on the exchanges on the valuation date; should there be no transaction during that day, they shall be valued based on the market price (the closing price) on the latest transaction date; (2) For the unlisted shares, bonds and warrants that are initially offered and not listed, the fair value is determined using the valuation methods; if the fair value cannot be reliably determined based on the valuation methods, they shall be valued at cost. (3) The shares that are initially offered with definite lock-up period shall be valued at the market price (the closing price) of the same share listed on the exchanges after the listing of such shares; for the shares that are privately offered and have definite lock-up period, they are valued at fair values determined in accordance with the relevant requirements of the regulatory authorities or industrial associations. 168

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3. For the rights to allotment based on holding of the shares, should the closing price be higher than the allotment price from the ex-right date to the confirmation date of allotment, the valuation shall be based on the difference between the closing price and the allotment price; should the closing price equals or be lower than the allotment price, no value should be attached thereof.

4. The bonds that are traded on the inter-bank bond market, asset-backed securities and other fixed-income products shall be valued at their fair value determined using valuation methods.

5. Where a bond is traded on two or more markets at the same time, it shall be valued respectively based on the market it is traded;

6. If there is concrete evidence that none of the abovementioned valuation methods subjectively reflects the fair value, the Fund Manager may, pursuant to the specific circumstances and after consultation with the Fund Custodian, determine the value at a price which will best reflect the fair value of the asset.

7. The Fund’s valuation and accounting treatment of the depositary receipts shall be based on stocks listed and traded on mainland stock exchanges.

8. If any latest laws or regulations or any regulatory authorities require otherwise, valuation of the Fund shall be conducted accordingly. Any additional subjects should be valued according to the latest State requirements.

According to the Funds Law, the Fund Manager shall calculate and disclose the NAV of the Fund, and the NAV of the Fund so calculated by the Fund Manager shall be checked and reviewed by the Fund Custodian. Accordingly, if the relevant parties are not able to reach uniform opinions on any accounting problems related to the Fund after adequate discussion at aim’s length, the NAV of the Fund as calculated by the Fund Manager should be announced to the public.

VI. Determination of NAV per Unit and Treatment of Pricing Errors The NAV per each of the Unit shall be calculated up to 3 decimal places and rounded off from the fourth decimal place. When there are errors in the valuation or calculation of the NAV per Unit, the Fund Manager shall make immediate correction, and take reasonable measures to prevent further losses. If any calculation error amounts to 0.25% of the NAV per Unit or more, the Fund Manager shall report to the CSRC for filing. If any calculation error amounts to 0.5% of the NAV per Unit or more, the Fund Manager shall make an announcement thereof and report to the CSRC for filing. The Fund Manager shall assume the liability for any losses of the Investors resulting from the error in the valuation of the Fund. The Fund Manager shall have the right to claim for indemnity against the party who is responsible for the error for those liabilities which shall not be borne by it. 169

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The parties to this Contract have agreed to treat such errors as follows: 1. Types of Errors During the operation of the Fund, if an error is made due to the default of the Fund Manager, the Fund Custodian, the Fund Registration Institution, the Sales Agency or the Investors themselves, and losses are incurred on the other parties, the responsible party should assume the responsibility to compensate the counterparties which have incurred losses from the error (the “Injured Parties”) in accordance to the following “Error Treatment Principles”. The main types of the abovementioned errors include but not limited to: errors in reporting of information, errors in transmission, errors in calculation, system failure, errors in giving out orders; and in respect of errors due to technical reasons, if such errors are made due to the unforeseeable, unavoidable, irresistible and of force majeure nature, the following provisions shall be implemented. Any loss or mistreatment or other errors in trading data of the Investors due to force majeure, the parties which incurred such errors due to force majeure shall not assume any compensation liabilities to the counterparties, but such parties that obtained any undue gains from such errors shall be obligated to return such gains.

2. The Error Treatment Principles (1) If such errors are made but no loss is incurred on the relevant parties, the responsible party for the error shall coordinate the different parties to correct the mistake in a timely manner, and the expenses of correction shall be borne by the responsible party for the error; in the event such errors incurred are not corrected in time, the losses to the relevant parties shall be borne by the responsible party for the error; if the responsible party for the error has actively coordinated for correction and those parties that have an obligation to assist such correction have failed to do so, such parties shall assume the responsibility to compensate. The responsible party for the error shall confirm with the relevant parties on the correction situation, in order to make sure of the correction of such mistakes. (2) The responsible party for the error shall be responsible for the direct losses of the relevant parties, and shall not be responsible for any indirect losses, it shall only be held directly responsible in respect of such errors to the relevant counterparties, but not to any other third parties. (3) The relevant parties shall be obligated to return any undue gains due to such error in a timely manner, but the responsible party for the error shall be responsible for such error. If the relevant parties fail to return or fully return such undue gains thus causing losses of benefits to the counterparties (the “Injured Parties”), the responsible party for the error shall be held responsible to compensate the losses of the Injured Parties, and have the right to demand for indemnity of such undue gains from such relevant parties so unduly gained within the scope of the compensation amount; if the relevant parties so unduly gained have partly returned such undue gains to the Injured Parties, the Injured Parties shall return the excess amount of the total 170

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sum of such compensation received plus the undue gains so returned, less the actual losses, to the responsible party. (4) The error adjustment shall be made with the aim of recovery to the normal situation under the assumption that such error had never been incurred. (5) Should the responsible party for the error refuses to make compensation, if the loss in the Fund assets was due to default of the Fund Manager, the Fund Custodian shall seek compensation from the Fund Manager on behalf of the Fund; if the loss in the Fund assets was due to default of the Fund Custodian, the Fund Manager shall seek compensation from the Fund Custodian on behalf of the Fund; and if the loss in the Fund assets was due to default of a counterparty other than the Fund Manager and the Fund Custodian, and such counterparty refuses to make compensation, the Fund Manager shall be responsible to seek compensation from the responsible party. (6) If the responsible party for the error have not compensated the Injured Parties as required, or if the Fund Manager, on its own determination or according to rulings of the Court or the award of arbitration, assume the compensation responsibility to the Injured Parties in accordance to the law, administrative regulations, the Fund Contract or other requirements, the Fund Manager shall have the right to claim for indemnity against the party which is responsible for the error, and is entitled to demand for compensation or indemnity for any expenses or losses so incurred. (7) Such errors shall be corrected in accordance with any other principles as required by the Laws and Regulations.

3. Procedures for Treatment of Errors When an error is noticed, the relevant parties shall take timely action in the following manner: (1) To investigate the cause of such error, list out all relevant parties, and determine the responsible party in accordance to the reasons of such error; (2) To evaluate the losses incurred by such error in accordance to the error treatment principles or other methods agreed by the relevant parties; (3) The responsible party shall correct and compensate such losses in accordance to the error treatment principles or other methods agreed by the relevant parties; (4) According to the error treatment methods, should the trading data of the Fund Registration Institution need to be corrected, the Fund Registration Institution shall make such corrections and confirm with the relevant parties accordingly. (5) If any calculation mistake of the NAV of the Units by the Fund Manager and the Fund Custodian amounts to 0.25% of the NAV per Unit or more, the Fund Manager shall report to the CSRC. If any calculation mistake of the NAV of the Units by the Fund Manager and the Fund Custodian amounts to 0.5% of the NAV per Unit or more, the Fund Manager shall make an announcement thereof and report to the CSRC for filing.

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1. When the exchanges on which the Fund’s investments are traded are closed because of statutory public holidays or other reasons. 2. When the Fund Manager cannot accurately make valuation of the Fund assets due to force majeure or other circumstances. 3. when assets amounting to more than 50% of the NAV of the Fund had no referable active market price on the preceding valuation day, and even applying valuation techniques shall still lead to significant uncertainty in the fair value, the Fund Manager, after negotiation with and confirmation from the Fund Custodian, shall suspend valuation of the Fund. 4. Other circumstances stipulated by the CSRC.

VIII. Treatment of Special Circumstances 1. Where the Fund Manager carries out valuation in accordance with the above Paragraph 6 of the valuation method, the error thereof shall not be regarded as a valuation mistake in respect of the Fund assets. 2. If the Fund Manager and the Fund Custodian have taken necessary, appropriate and reasonable measures to check but still did not discover the mistakes because of the mistakes in the data transmitted by the exchanges and the registration and clearing companies or in the events of Force Majeure, the Fund Manager and Fund Custodian may be exempted from the compensation liabilities for the mistakes in the valuation of Fund assets. However, the Fund Manager and the Fund Custodian should actively take necessary measures to eliminate the impact of such mistakes.

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§ 12 Fund Income and Distribution

I. Composition of Fund Income Fund Income includes: bonus, dividends and interest income of bonds from the Fund’s investments; bills investment income; spreads of securities trading; interest income of bank deposits and other incomes. Savings of costs or expenses of the application of the Fund assets shall be included as its income.

II. Net Fund Income Net Fund Income refers to the balance obtained by deducting the expenses from the Fund Income in accordance with relevant requirements.

III. Principles of Fund Income Distribution 1. On the premise that it meets the requirements of dividends distribution of the Fund, the income of the Fund shall be distributed no more than 12 times a year, the annual distribution ratio shall not be less than 50% of the distributable income of the year. The Fund Income may not be distributed during the first 3 months after the Fund Contract comes into force; 2. The Fund Income distribution methods of Class A Units and Class C Units can be categorized into two types: cash dividends and dividend reinvestments. The Investor may choose to receive cash dividends or reinvest the cash dividends that are automatically converted into corresponding Units based on the NAV of Units on the ex-right date. If the Investor does not elect, the default income distribution method of of Class A Units and Class C Units are cash dividends; 3. If net loss in fund investment occurs in the current period, the distribution of Fund Income shall not be implemented; 4. The current Fund Income may only be distributed after it compensates the losses of the previous year; 5. After distribution of Fund Income, the NAV of Units shall be no less than its book value. 6. Due to the fact that no sale service fee is chargable for Class A Unit and Class H Unit while a sale service fee is chargable for Class C Unit, the income distrution will be varied for each Unit. Each Unit shall have the same rights for distribution; 7. As otherwise provided in the relevant Laws and Regulations or rules of the regulatory authority.

IV. Distribution Plan of Fund Income The distribution plan of Fund Income shall include the net income of fund, distribution object, distribution time, distribution amount and proportion, and distribution methods etc.

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V. Determination, Announcement and Implementation of Income Distribution Plan The Fund Income distribution plans shall be proposed by the Fund Manager, reviewed by the Fund Custodian, then announced on the Designated Media within two days.

VI. Expenses incurred during Fund Income Distribution The bank transfer fees and other service fees incurred during the distribution of Fund Income shall be borne by the Investors. If the cash dividends obtained by the Investors is less than a certain amount and cannot cover the payment of the above-mentioned bank transfer fees and other service fees, the Fund Registration Institution can automatically convert the cash dividends obtained by such Unitholder into the Units based on the ex-right NAV per Unit at the right registration date. Dividend reinvestments are calculated according to the Operation Measures.

VII. Treatment of the Dividend Amount The dividend amount is calculated based on the effective Units on the right registration date in accordance to the current Fund Income distribution plan, net of the relevant fees, and the calculation result is presented up to 2 decimal places, and rounded off thereafter, any deviation thereof is included in the Fund assets.

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§ 13 Fund Expenses and Tax

I. Types of Expenses of the Fund 1. Management fee payable to the Fund Manager; 2. Custodian fee payable to the Fund Custodian; 3. Sale service fee of Class C Unit; 4. Information disclosure expenses related to the Fund after the Fund Contract comes into effect; 5. Accounting fees and legal fees related to the Fund after the Fund Contract comes into effect. 6. Expense of the Unitholders’ Meeting; 7. Expenses arising from trading of securities of the Fund; 8. Expenses arising from bank remittance of the Fund; 9. Other fees which may be charged against the Fund assets as permitted by related regulations of the State and the requirements of the Fund Contract. Expenses arising from settlement upon termination of the Fund shall be charged from the total Fund assets based on the actual expenses amount.

II. Accrual Methods, Accrual Standards and Payment Terms of the Operating Expenses 1. Management fee payable to the Fund Manager The management fee of the Fund shall be accrued at the rate of 1.5% per annum of the NAV of the Fund on the preceding day. The calculation method of the management fee is listed as follows: H＝E×1. 5%÷ number of days in the current year H is the management fee accrued per day E is the NAV of the Fund on the preceding day The management fee is calculated and accrued daily to the end of month and payable monthly in arrears. The Fund Manager will send the payment order for the Fund management fee to the Fund Custodian, and the Fund Custodian will check and make a lump-sum payment to the Fund Manager from the Fund assets within the first 2 Business Days of the following month. In case of statutory holidays or rest days, the payment date shall be postponed accordingly.

2. Custodian fee payable to the Fund Custodian The custodian fee shall be accrued at the rate of 0.25% per annum of the NAV of the Fund on the preceding day. The calculation method is listed as follows: H＝E×0.25%÷number of days in the current year H is the custodian fee accrued per day E is the NAV of the Fund on the preceding day

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The custodian fee is calculated and accrued daily to the end of month and payable monthly in arrears. The Fund Manager will send the payment order for the Fund custodian fee to the Fund Custodian, and the Fund Custodian will check and make a lump-sum payment to the Fund Manager from the fund assets within the first 2 Business Days of the following month. In case of statutory holidays or rest days, the payment date shall be postponed accordingly.

3. Sale service fee of Class C Unit No sale service fee shall be chargable for Class A Unit and Class H Unit. The annual sale service fee for Class C Units shall be at the rate of 0.8% per annum. The annual sale service fee for Class C Units of the Fund shall be accrued at the rate of 0.8% per annum of the NAV of Class C Units on the preceding day. The calculation of sale service fee of Class C Unit as follows:- H= E x 0.8% /no. of days H is the sale service fee of Class C Unit E is the NAV of the Class C Unit The sale service fee shall be calculated day by day until the end of the calender month and payable monthly. Instruction shall be given by the Fund Maganer to the Fund Custodian and after the verification by the Fund Custodian, the Fund Custodian shall pay the sale service fee to each of the sale agencies from the fund asset or the Fund Manager pay the same to each of the sale agencies 2 days prior the end of the calender month. If the payment date is a statutory holiday, the payment date shall postpone to the next day.

The Fund Custodian shall pay for the actual expenses amount stated in Items 4 to 8 of the above “I. Types of Expenses of the Fund” pursuant to the relevant regulations and the relevant contractual requirements, such expenses shall be presented as current expenses.

4. For details of the accrual methods, accrual standards and payment terms of the sales expenses related to the Fund, please refer to “Subscription For Subscription and Redemption”.

III. Items not Included in the Expenses of the Fund The following expenses are not listed under expenses of the Fund: 1. The expenses or losses of the Fund assets arising from the failure of the Fund Manager or the Fund Custodian to perform or fully perform their obligations; 2. The expenses for matters not in relation to the Fund’s operations handled by the Fund Manager and the Fund Custodian; 3. Related expenses incurred before the Fund Contract comes into effect, including but not limited to the capital verification fees, the accounting fees and legal fees, the information disclosure fees, etc.;

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4. Other items that cannot be listed under the expenses of the Fund according to the relevant Laws and Regulations and the relevant requirements of the CSRC.

IV. Adjustment of Fund Fee Category The Fund Manager and the Fund Custodian may reach an agreement to, according to the development of the Fund, adjust the relevant rates, such as the Fund management fee and the Fund custodian fee. Unless otherwise required by the Fund Contract, the relevant Laws and Regulations or the regulatory authorities, any increment in the rates of the Fund management fee,the Fund custodian fee and the sale service fees must be considered at the Unitholders meeting; any lowering of the rates of the Fund management fee and the Fund custodian fee shall not require the convening of the Unitholders’ meeting. The Fund Manager must announce such changes on the Designated Media at least 2 days before the implementation of new rates.

V. Taxes of the Fund Every taxpayer involved in the Fund’s operations shall pay tax pursuant to the taxation laws and regulations of China, Hong Kong, and the location of investor.

§ 14 Fund Accounting and Auditing

I. Accounting Policies of the Fund 1. The Fund Manager shall be responsible of the accounting of the Fund; 2. The fiscal year of the Fund commences on January 1st and ends on December 31st; for the first fiscal year after the initial offering of the Fund, if the Fund Contract had come into effect for no longer than 2 months, it shall be consolidated to the next fiscal year; 3. The Fund adopts RMB as its base currency of recording and the bookkeeping unit; 4. The accounting system of the Fund shall comply with the relevant accounting rules of the State; 5. The Fund shall keep its own books and accounting independently; 6. The Fund Manager and the Fund Custodian shall each keep a complete account and accounting evidences of the Fund, conduct daily auditing, and prepare the accounting statements of the Fund in accordance with the relevant regulations; 7. The Fund Custodian shall crosscheck and confirm in written form the audit and statements of the Fund with the Fund Manager every month.

II. Annual Auditing of the Fund 1. The Fund Manager shall engage an accounting firm and its Certified Public Accountants which is independent from the Fund Manager and the Fund Custodian and is qualified to

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engage in securities and futures business, to audit the annual financial statements of the Fund; 2. The accounting firm shall seek the prior consent of the Fund Manager and the Fund Custodian to replace the Certified Public Accountants for the Fund; 3. If in the opinion of the Fund Manager, there is reasonable grounds to replace the accounting firm, it shall notify the Fund Custodian. The Fund Manager shall announce the replacement of the accounting firm within 2 days on the Designated Media.

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§ 15 Information Disclosure of the Fund

I. Information disclosure of the Fund shall comply with the Funds Law, the Operation Measures, the Information Disclosure Measures, the Fund Contract and other relevant requirements.

II. Information Disclosure Obligators

The information disclosure obligators of the Fund include the Fund Manager, the Fund Custodian and the Unitholders who convene the Unitholders’ Meeting; they are the natural persons, legal persons and unincorporated organizations as required by the laws and regulations and the CSRC.

The information disclosure obligators shall protect the interests of the Unitholders as the fundamental starting point, and disclose the information on the Fund in accordance with the Laws and Regulations and the requirements of the CSRC, and assure the truthfulness, accuracy, completeness, timeliness, conciseness and accessibility of the information so disclosed.

The information disclosure obligators of the Fund shall, within the required time frame set by the CSRC, disclose such information on the Fund through the media designated by the CSRC and on the websites of the Fund Manager and the Fund Custodian (hereinafter as the “Websites”), and ensure that the information disclosed to the public are available for inspection or copy by the Investors of the Fund in the time and manner stipulated in the Fund Contract. For details of form of disclosing fund information disclosable by information disclosure obligators of Class H Fund, please refer to the supplementary document to the Prospectus.

III. Information on the Fund committed to be disclosed by the information disclosure obligators of the Fund shall not: 1. contain any false or misleading statement or major omission; 2. contain any forecast of the results of securities investments; 3. guarantee the profit or assume losses in violation of the regulations; 4. slander other fund managers, fund custodians or sales agencies; 5. contain any congratulatory, complimentary or recommending texts by any natural persons, legal persons or unincoratpoed organizations; 6. take other actions as forbidden by the CSRC.

IV. The information disclosure of the Fund shall be released in Chinese. If other foreign texts are released at the same time, the information disclosure obligators shall ensure the consistency of both texts. In the case of inconsistency of the different versions, the

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Chinese text shall prevail.

The information disclosure on the Fund shall use Arabic numbers; the currency unit shall be RMB unless otherwise stated.

V. Information Disclosure on the Fund Information on the Fund disclosed to the public includes: (1) The Prospectus, the Fund Contract, the Custodian Agreement and the Fund product information summary. Upon approval by the CSRC of the offering application of the Fund, the Fund Manager shall, 3 days before the offer of Units, publish the Prospectus and the summary of the Fund Contract on the Designated Media; the Fund Manager and the Fund Custodian shall publish the Fund Contract and the Fund Custodian Agreement on the Websites.

1. The Prospectus shall to the largest extant disclose all matters affecting the decisions of the Investors, and explain matters such as subscription, application and redemption arrangements of the Fund, investments of the Fund, characteristics of the Fund’s products, warning of the risks, information disclosure and services to the Unitholders. After the Fund Contract comes into effect, if there are material changes in the Prospectus, the Fund Manager shall within 3 Business Days update the Prospectus and publish it on the designated websites; if there are no material changes in the Prospectus, the Fund Manager shall update the Prospectus at least every year. If the Fund is terminated, the Fund Manager shall not update the Prospectus.

2. The Fund Contract is the legal document stipulating the rights and obligations of the Parties to Fund Contract, the procedures and the precise arrangement of convening the Unitholders’ meetings, and explain on matters such as the characteristics of the Fund’s products which implicates the material benefits of the Investors.

3. The Fund Contract is a legal document which provides for the rights and obligations of the Fund Manager and the Fund Custodian in relation to the custodian of the Fund assets and supervision of the Fund operation.

4. The Fund product information summary The Fund product information summary is a summary document of the Prospectus, which is used to provide concise and accessible information about the Fund. After the Fund Contract takes effect, in the event of any material changes in the KFS, the Fund Manager shall update the KFS and publish it on the designated websites, the websites of the Sale Institutions or website of Sales Outlets within 3 Business Days. In the event of any other

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changes to the Fund product information summary, the Fund Manager shall update it at least once a year. The specific requirements and contents of the Fund product information summary shall be in accordance with the relevant provisions of the Prospectus. In the event that the Fund terminates, the Fund Manager shall not update the Fund product information summary. The Fund product information summary shall provide key features of the product, the scope of investment, Net Asset Value of the product, the fees and charges, risk disclosures, important information and other relevant discloseable items as required by CSRC. These information should not be substantially different from the Fund Contract and Prospectus. Fund Manager shall within one year after the Information Disclosure Measures was implemented, execute corresponding disclosures pursuant to the Information Disclosure Measures, Fund Contract and the Fund product information summary requirments. (2) The Unit Offering Announcement

The Fund Manager shall prepare the Unit Offering Announcement regarding the offering of the Units and publish it on the Designated Media on the same day of publishing the Prospectus.

(3) Announcement on the Fund Contract coming into effect

The Fund Manager shall publish a relevant announcement on the Designated Media on the next day after the Fund Contract coming into effect.

(4) NAV of the Fund and the Net Value of the Units

Upon the Fund Contract comes into effect and before processing the Subscription or Redemption of the Units, the Fund Manager shall announce the NAV of the Fund and the accrual net value of the Units at least once a week on the designated websites.

Upon commencement of processing the Subscription or Redemption of the Units, the Fund Manager shall disclose the NAV of the Fund and the accrual net value of the Units on the commencement date on the designated Websites, websites of the Sales Institutions and the sales location of the Units no later than the next day of each Open Day.

The Fund Manager shall announce the net value of the Units and the accrual net value of the Units on the last day every half-year and yearly period on the designated websites no later than the next day of the last day every half-year and yearly period.

(5) Subscription for Subscription and Redemption Prices of the Units

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The Fund Manager shall specify the calculation methods of the Subscription and Redemption prices and the rates of application for subscription and redemption fees in the information disclosure documents such as the Prospectus, and ensure that the Investors can inspect or copy the said information on the websites of the Sales Institutions or at the sales location of the Units.

(6) Periodic Reports of the Fund, including the Annual Report, Interim Report and Quarterly Report of the Fund

The Fund Manager shall prepare and complete the annual reports of the Fund within three months after each year-end, publish the text of annual reports on the designated websites, and publish the notification announcement of the annual report on the designated newspapers. The financial and accounting reports of the annual reports of the Fund shall be audited by accounting firms qualified for securities and futures business. The Fund Manager shall prepare and complete the interim reports of the Fund within two months after each half-year-end, publish the text of interim reports on the designed websites, and publish the notification announcements of the semi-annual reports on the designated newspaper.

The Fund Manager shall prepare and complete the quarterly reports of the Fund within 15 Business Days after the end of each quarter, and publish the text of the quarterly reports on the designated websites and publish the notification announcements of the quarterly reports on the designated newspaper.

For periods where the Fund Contract had come into effect for less than 2 months, the Fund Manager shall not be obligated to prepare the quarterly report, the interim report or the annual report.

The periodic reports of the Fund shall be reported to the CSRC and the designated authorities by the CSRC at the domicile location of the Fund Manager for filing. Such filing shall be in both electronic and written report format.

During the operation of the Fund, if within the reporting period there is a single investor holding Units reaching 20% or more of the total number of Units, to protect the interests of other investors, the Fund Manager shall at least disclose the category of, number and proportion of Units held at the end of the reporting period by such investor, changes within the reporting period in Units held by such investor and the specific risks of the product under the “Other material information affecting investor decision-making” section in the periodic reports of the Fund, except for special circumstances prescribed by the CSRC.

During the continuing operation of the Fund, the portfolio assets of the Fund and liquidity risk assessment shall be disclosed in the annual reports and interim reports of the Fund. 182

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(7) Extraordinary Announcement

In case of any major event of the Fund, the information disclosure obligators shall prepare and publish an extraordinary report within two days and publish on designated websites and designated newspapers.

The abovementioned major events refer to the following events which may significantly influence the interests of the Unitholders or the price of the Units:

1. Convening of and matters decided in the Unitholders’ Meetings;

2. Termination of the Fund Contract and liquidation of the Fund;

3. Expansion of the Fund and extension of the Fund Contract term.

4. Alteration of the Fund’s operation mode and merger of the Fund;

5. Replacement of the Fund Manager or the Fund Custodian; Fund share registrar, the accounting firm engaged by the Fund;

6. Engagement of a fund service provider to handle the Fund’s share registration, accounting, valuation and other matters by the Fund Manager on its behalf, and the engagement of a fund service provider to handle the Fund’s accounting, valuation, review and other matters by the Fund Custodian on its behalf;

7. Change of legal name or domicile of the Fund Manager or the Fund Custodian;

8. Any change in the Fund Manager’s shareholders holding 5% or more of the Fund Manager’s shares; change in the actual controller of the Fund Custodian.

9. Extension or early termination of the offering period of the Fund

10. Changes in the senior management members or the portfolio manager of the Fund Manager and the persons in charge of the Funds Custody Department of the Fund Custodian;

11. Replacement of more than 50% of the Directors of the Fund Manager in a single year; replacement of more than 30% of the key personnel of the Fund Manager or the Funds Custody Department of the Fund Custodian in a single year;

12. Litigation or arbitration related to the Fund Manager, the Fund assets or the Fund’s custody business;

13. The Fund Manager, any of its senior management members or the portfolio manager receives severe administrative or criminal penalty for actions in relation to its fund management business, or the Fund Custodian or the person in charge of its Funds Custody Department receives severe administrative or criminal penalty for actions in relation to its Fund Custodian business;

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14. Except as otherwise provided by the CSRC, the Fund Manager uses the Fund assets for trading in the issued securities of, or issued securities underwritten during the underwriting period of, the Fund Manager, the Fund Custodian and their respective controlling shareholder or actual controller or other companies with which it has a significant interest, or engages in other major connected transactions;

15. Distribution of the Fund Income;

16. Alteration of accrual standards, methods and rates of the fees including the management fee, custodian fee, subscription fee and redemption fee;

17. Pricing errors in respect of the NAV per Unit accounting for 0.5% of the NAV per Unit;

18. Commencement of application for subscription and redemption of the Fund;

19. The Fund defers handling of redemption and defers redemption payment because of Massive Redemption;

20. The Fund suspends redemption application or defers redemption payment because of continuous Massive Redemption;

21. The Fund suspends subscription and redemption application or re-accepts the application for subscription and redemption;

22. Other matters that the information disclosure obligator of the Fund believes may have a significant impact on the rights of the Unitholders or the price of the Units, or other events as prescribed by the CSRC and the Fund Contract.

(8) Announcement of Clarification

During the Term of the Fund Contract, if any information appears on any public distribution media or circulates in the market that may have misleading influence on or result in considerable fluctuation of the Unit Price or prejudice the interest of the Unitholders, the relevant information disclosure obligators shall immediately clarify such information publicly and report such situation to the CSRC.

(9) Resolutions of the Unitholders’ Meetings

Resolutions of the Unitholders meetings shall be reported to the CSRC of the State Council for approval or filing, and an announcement shall be published accordingly. To convene the Unitholders’ meeting, the convener shall announce the time, format, matters for consideration, deliberation procedures and voting arrangements of the Unitholders’ meeting at least 40 days before the meeting.

Should the Unitholders convene the Unitholders’ meeting on their own according to the relevant 184

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) provisions, and the Fund Manager and the Fund Custodian fail to fulfill their information disclosure obligations in relation to the resolutions of the Unitholders’ meeting in accordance to the relevant provisions, the convener shall fulfill such information disclosure obligations.

(10) Liquidation Report Upon the termination of the Fund Contract, the Fund Manager shall establish the liquidation group to conduct the liquidation and prepare the liquidation report. The liquidation group shall publish the liquidation report on the designated website and publish the announcement of the liquidation report in the designated newspaper.

(11) Any other information as required by the CSRC.

VI. Management of Matters of Information Disclosure

The Fund Manager and the Fund Custodian shall set up a comprehensive information disclosure management system, and specialized departments and sernior management personnel to manage the matters of information disclosure.

The information disclosure obligators of the Fund shall disclose to the public the information on the Fund in accordance with the relevant requirements of the CSRC and other laws and regulations on the content and format standards of information disclosure.

The Fund Custodian shall, in accordance with the relevant Laws and Regulations, the requirements of the CSRC and the Fund Contract, verify and review the public disclosure of information on the Fund as prepared by the Fund Manager, such as the NAV of the Fund, the net value of the Units, the application for subscription and redemption of the Units, the periodic reports of the Fund, the updated Prospectus, the Fund product information summary, Fund liquidation report and issue written or electronic confirmation to the Fund Manager.

The Fund Manager and the Fund Custodian shall select the newspaper for information disclosure among the designated newspapers. The Fund Manager and the Fund Custodian shall submit the information to CSRC website and and assure the truthfulness, accuracy, completeness and timeliness of the information so disclosed.

In addition to the disclosure of information on such Designated Media as required by such regulations, the Fund Manager and The Fund Custodian can disclosure such information on other public media as needed, provided that the information disclosure on other public media shall not be made prior to the disclosure on the Designated Media, and the disclosure of the same information on different media shall have the consistent content. 185

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The professional institutions issuing such auditing reports and legal opinions in respect of the publicly disclosed information on the Fund by the information disclosure obligators shall prepare the original copies of such documents, and maintain such documents for at least 10 years after the termination of the Fund Contract.

VII. Maintenance and Inspection of the Information Disclosure Documents

After the information on the Fund is disclosed in accordance with the Laws and Regulations, the Fund Manager and the Fund Custodian shall make the discloseable information available at their respective addresss for inspection and copying by the public.. The Fund Manager and the Fund Custodian shall ensure complete consistency between such documents and announcements.

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§ 16 Risk Disclosure

I. Market Risk The market price of securities is affected by various factors including economic factors, political factors, investment psychology and trading systems, which may result in changes in the fund income and pose risks. Such risks mainly include: 1. Policy risk. The change of macro policies of the state, such as monetary policy, finance policy, industrial policy and other policies, will give rise to the fluctuations of the market price, which will bring risks. 2. Economic cycle risk. The income from the securities market changes periodically with the periodical changes of the economic operation. The Fund invests in national bonds and stocks of listed companies, the return thereof will change correspondingly, which will bring risks. 3. Interest rate risk. Changes of the interest rate of the financial market will change the price and yield of the securities market and the bond market. The interest rate directly affects the price and yield of national bonds and also the financing cost and profit of companies. The Fund invests in national bonds and stocks, the return thereof will be subject to the interest rate movement. 4. Operation risk of listed companies. The operation of listed companies can be affected by various factors, such as management ability, financial conditions, market prospect, industrial competition and personnel quality, which will have impact on the profit. If the listed companies invested by the Fund are under poor operation, the stock prices thereof may fall or the profit for distribution will decrease, which will reduce the return of the fund investment. Although the Fund can diversify such non-systematical risks through investment diversification, it cannot totally avoid such risks. 5. Purchasing power risk. The profit of the Fund is mainly distributed in the form of cash while the purchasing power of cash may reduce as a result of inflation, which will reduce the actual gains of the Fund.

II. Management Risk During the management and operation of the Fund, the income level of the Fund may be affected by the knowledge, experiences, judgment, decisions and skills of the Fund Manager, which will affect their possession of information and the judgment on economic trend and securities market. As a result, the income level of the Fund has a relatively high correlation with the management level, manner and techniques of the Fund Manager. Therefore, the income level of the Fund may be affected by factors relating to the Fund Manager.

III. Liquidity Risk The Fund is an open-ended fund. The Fund Manager shall be obliged to accept the

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Subscription and Redemption by Investors on all Open Days. As the stock market of China fluctuates significantly, the transaction turnover may plunge when the market falls. If there are applications for Continuing massive redemption of the Fund, realization of the Fund assets may be difficult and the Fund will face liquidity risks.

1. The Subscription and Redemption Arrangements of the Fund The Fund is operated as an open-ended fund, and the Open Day for Subscription and Redemption is any trading day of stock exchange (except when the Fund Manager announces the suspension of Subscription or Redemption).

2. Liquidity Risk Assessment of the Investment Market, Industry and Assets The Fund mainly invests in listed companies that have guaranteed asset value and the ability to release value (stable profit-making ability or at the point of business reversal), the investment objectives of which are within the permissible scope of the CSRC and relevant Laws and Regulations, and generally have good market liquidity and investability. The investment scope of the Fund is also reasonably and clearly set, with relatively strong operability. The Fund is a mixed fund. Through the mining of value of listed companies by thorough investigation and research, searching for securities matching the “valuable investment” requirement set by the Fund, adopting the principle of appropriate risk-return proportion, and lowering the investment risks by scientific portfolio investment, it brings about the long-term and stable growth of Fund Assets primarily by making long-term investments. According to the relevant requirements of the Liquidity Risk Management Rules, the Fund will prudently examine the liquidity of assets it invests in, and formulate targeted liquidity risk management measures so that the liquidity risks of the Fund may be effectively controlled.

3. Liquidity Risk Management Measures Under Massive Redemption Circumstances When net applications for Redemption on a single Open Day (the net number of Units under which, being the sum of total number of Units of Redemption applications and total number of Units of Switching-out applications less total number of Units of Subscription and total number of Units of Switching-in applications) exceeds 10% of the total number of Units of the preceding day, a Massive Redemption is considered to have occurred. When Massive Redemption occurs, the Fund Manager may decide to allow full redemption or defer part of the redemption depending on the circumstances of asset portfolio at that time. If the Fund encounters a continuing Massive Redemption for more than two consecutive Open Days, the Fund Manager may suspend the acceptance of redemption applications if it considers necessary. Payment of the Redemption applications for the accepted redemption applications may be deferred, but the deferral period shall not exceed 20 Business Days at most, and the Fund Manager shall make an 188

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announcement on the Designated Media. If Massive Redemption occurs for the Fund, in case a single Unitholder makes a redemption application of Units involving more than 50% of the total number of Units, the Fund Manager may defer the handling of the redemption application. If the Fund Manager defers handling of redemption application for the part exceeding 50% of the total number of Units, the deferred redemption application will be handled together with redemption applications of the next Open Day with no priority and the redemption amount will be calculated based on the NAV of the Units at the time of the next Open Day, so on and so forth, until full redemption; if the Fund Manager only accepts the redemption application for the part of 50% of the total number of Units, the Fund Manager may handle such valid part of the redemption application together with redemption applications of other Unitholders according to the abovementioned prescribed method “(1) Redemptions in full” or “(2) Partial deferral of redemptions”. Unitholders when applying for redemption may decide in advance whether to revoke the part which may not be entertained on that day; for the deferred part of the redemptions which the Unitholders decide to cancel, the part of the redemption application not entertained on that day shall be revoked. If the Unitholders have not made a decision when submitting the redemption application, the part not yet redeemed by the investor shall be automatically handled as deferred redemption. If Hong Kong Sale Institutions otherwise provided for the power of choice of Class H Unit investors, such provisions shall be followed. The portion of any redemption application deferred according to the abovementioned provision does not enjoy any priority for Redemption, so on and so forth until all the applications are satisfied. The deferred portion of any redemption application shall not be subject to the minimum number for single redemption application. 4. Implementation of Alternative Liquidity Risk Management Tools: Circumstances, Procedures and Potential Effect on Investors In case the Fund faces a large scale of redemption, it may cause liquidity risk because it cannot realize its assets. If there is any liquidity risk, upon negotiation between the Fund Manager and the Fund Custodian, provided that investors are fairly treated, alternative liquidity risk management tools may be implemented as a complementary measure of liquidity risk management of the Fund Manager under specific circumstances. Such tools may include but are not limited to deferral in handling Massive Redemption applications, suspension of acceptance of redemption applications, deferral in payment of redemption proceeds, charging short-term holding redemption fees to Class A Unitholders, suspension of valuation of the Fund and other measures prescribed by the CSRC. At the same time, the Fund Manager shall always beware of potential liquidity risks, monitor liquidity risk as daily practice and protect the interests of Unitholders. When implementing liquidity risk management tools, payment of redemption amount within the period stipulated in the 189

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Fund Contract may be impossible.

IV. Other Risks 1. Risks caused by technical factors, such as the risks caused by an unreliable computer system; 2. Risks from the imperfection of the institutional improvement, personnel allocation, the establishment of internal control system as a result of the rapid development of the fund business; 3. Risks caused by human factors, such as risks of insider transactions and fraudulent conduct; 4. Possible risks from the dependence on key personnel, such as the Fund Manager; 5. Risks that may be caused by the business competition pressure; 6. Any event of Force Majeure, such as wars and natural disasters, would lead to the loss of the Fund assets and affect the income level of the Fund, bringing risks; 7. Risks caused by other accidents.

V. Risk Control under Established Investment Strategies of the Fund The Fund is a mixed fund with a large proportion of investment in stocks. It adopts a combination of qualitative and quantitative analysis in the investment strategy. Meanwhile, it focuses on the analysis on current assets value and the future value release ability and establish portfolio of selected individual stocks. As a result, the Fund may face relatively high investment risks, particularly when there are systematic biases on the judgment of the company value.

As a result, the Fund pays more attention on risks control of the investments. In qualitative analysis, it attaches great importance on seeking listed companies with the assets value and future value meeting the criteria for selecting stocks under the established analysis framework and the changes of listed companies in the industrial growth potential, industrial structure, upstream and downstream positions, competitive advantages and management ability. In quantitative analysis, it studies the basic financial indicators of listed companies in depth, make clear and timely assessment on the accuracy and reliability and master the changes among such indicators. It strives to forecast the risks arising therefrom and take measures to prevent such risks through the analysis on the changes and possible changes.

The solutions include: making long-term investments in advantageous industries and stocks with the highest certainty; eliminating stocks no longer in line with the investment directions of the Fund, the stock prices with significant fluctuations as a result of the deterioration in fundamentals and the stock prices to be adjusted due to the excessive short-term valuation regularly or on ad hoc basis; making targeted investments in key industries under the condition of relative balance. Meanwhile, it actively searches for new stocks in line with the investment directions of the Fund and include them into the stock pool after making studies with the established methods to ensure 190

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) effective implementation of the investment strategies of the Fund.

VI. Risks on Possible Inconsistencies between Statements on Risk and Income Characteristics in the Fund Legal Documents and Fund risks Assessment by Sales Agencies The statements in the investment chapters of the Fund legal documents on the characteristics of risks and incomes are general descriptions on the investment scope, investment proportion and the general laws of the securities market, which represents the long-term characteristics of risks and incomes of the Fund under general market conditions. Sales Agencies (including the direct sale institutions and agencies of the Fund Manager) will conduct risks assessment on the Fund according to relevant Laws and Regulations. Different Sales Agencies may adopt different assessment methods. As a result, the assessment on the risk levels of the Sales Agencies may be different with the statements on the risk and income characteristics in the Fund legal documents. Investors shall complete a survey to see whether their risk profiles match with the risk characteristics of the products as required by the Sales Agencies.

VII. Risks associated with investment in depositay receipts The Fund’s scope of investment involves depositary receipts issued and traded on China’s domestic securities markets in accordance with Mainland laws (“CDRs”), apart from the common risks faced by the funds which invest only in the Shanghai Stock Exchange and the Shenzhen Stock Exchange, the Fund will also be facing the risk of price volatility associated with CDRs which may incur a risk of larger financial loss, and related risks associated with the CDRs mechanism, which includes potential risk caused by differences in the legal status and interests actually enjoyed by holders of CDRs and shareholders of the overseas issuers; risks that may be incurred resulting from special arrangements made to holders of CDRs in terms of dividend distributions, exercising of voting rights etc.; risks associated with the depositary agreement which is binding on holders of CDRs; the risk of price differences and consequent price volatility due to multiple listings, the risk of dilution of depositary receipt holders’ interests; the risk of delisting of depository receipts; the risks relating to differences in supervision of ongoing information disclosure requirements applicable in the different listing markets; other risks that may be caused by differences in domestic and overseas legal systems and regulatory environments.

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§ 17 Modification and Termination of Fund Contract and Liquidation of Fund assets

I Modification of the Fund Contract 1. The resolutions on the following matters on the modification of the Fund Contract shall be passed at the Unitholders’ meeting: (1) To terminate of the Fund Contract; (2) To replace the Fund Manager; (3) To replace the Fund Custodian; (4) To change the operation mode of the Fund; (5) To raise the remunerations of the Fund Manager and the Fund Custodian except raising such remunerations under the requirements of Laws and Regulations; (6) To change the category of the Fund; (7) To merge with other funds; (8) To change the investment targets, coverage and strategies of the Fund; (9) To change the procedures of the Unitholders’ meeting; (10) Other matters may have significant influences on the rights and obligations of parties related to the Fund. Under any of the following circumstances, it can be changed and announced with the consents of the Fund Manager and the Fund Custodian and report to the CSRC for filing without the resolutions passed at the Unitholders’ meeting: (1) To lower the fund management fee rate or the fund custodian fee; (2) To increase the charging of fund fees required by Laws and Regulations; (3) To adjust the Subscription fees rate and reduce the Redemption fees rate of the Fund within the scope specified in the Fund Contract; (4) To modify the Fund Contract because of changes made in the relevant Laws and Regulations; (5) Any modifications to the Fund Contract without any disadvantage in substance to the interests of the Unitholders or changing the rights and obligations of the Parties to the Fund Contract. (6) Other circumstances where the convention of the Unitholders’ meeting is not required in accordance with Laws and Regulations or the Fund Contract. 2. Resolutions of the Unitholders’ meeting on the modifications to the Fund Contract shall be implemented after taking into effect and shall be announced on the Designated Media within 2 days from the effective day of the resolutions of the Unitholders’ meeting.

II Termination of the Fund Contract Under any of the following circumstances, the Fund Contract shall be terminated:

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1. The Unitholders’ meeting votes for the Fund Contract to be terminated; 2. The responsibilities of the Fund Manager and the Fund Custodian terminated and no new fund manager and fund custodian to undertake within 6 months; 3. Other circumstances stipulated in the Fund Contract; 4. Other circumstances stipulated by Laws and Regulations or the CSRC.

III Liquidation of the Fund assets 1. Liquidation group of the Fund assets: The liquidation group shall be established within 30 Business Days from the date of the termination of the matters set out in the Fund Contract. The Fund Manager shall arrange the liquidation group of the Fund assets to conduct the liquidation of the Fund assets under the supervision of the CSRC. 2. Composition of the liquidation group of the Fund assets: The liquidation group of the Fund assets shall consist of the Fund Manager, the Fund Custodian, certified public accountants qualified for securities and futures business, lawyers and persons appointed by the CSRC. The liquidation group may hire necessary staff. 3. Responsibilities of the liquidation group of the Fund assets: The liquidation group of the Fund assets shall be responsible for safekeeping, clearing, valuation, realization and distribution of Fund assets. The liquidation group can take necessary civil activities in accordance with relevant laws. 4. Liquidation procedures for Fund assets: (1) After the Fund Contract is terminated, the liquidation group of the Fund assets shall take over the Fund assets; (2) To check and confirm the Fund assets and creditor’s rights; (3) To assess and liquidate the Fund assets; (4) To prepare the liquidation report; (5) To appoint accounting firms qualified for securities and futures business to conduct external auditing and appoint law firms to issue legal opinions on the liquidation report. (6) To submit the liquidation report to the CSRC for filing and release to public; (7) To distribute the remaining Fund assets. 5. The period for the liquidation of the Fund assets shall not be more than 6 months.

IV Liquidation Expenses Liquidation expenses mean all reasonable fees and expenses incurred during the Fund liquidation process, which shall be paid out of the Fund assets by the liquidation group with priority.

V Distribution of Remaining Fund Assets Under the distribution plan on the liquidation of the Fund assets, if there is any balance when the liquidation expenses on the Fund assets are deducted, the outstanding taxes are paid and the debts 193

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) of the Fund are settled from the remaining Fund assets after liquidation, Distribution proportion of the remaining assets is determined according to the proportion of each Class of Unit of the Fund at the time of Fund Contract termination, and distribution is made according to the proportion of Unitholders of each type of Class of Unit and within the range of remaining assets which can be distributed to each Class of Unit.

VI Fund Assets Liquidation Announcement Any significant events in the liquidation process shall be announced timely. The Fund assets liquidation report shall be audited by the accounting firm qualified for securities and futures business to conduct external auditing on the liquidation report and appoint law firms to issue legal opinions on the liquidation report and submitted to the CSRC for filing and announced after the law firm issued the legal opinions. The Fund assets liquidation announcement shall be reported to the CSRC for filing within 5 Business Days after the Fund Contract is terminated and shall be announced by the liquidation group of the Fund assets. The liquidation report of the Fund Assets shall publish the liquidation report on designated websites and make the notification announcement of the liquidation report on designated newspapers.

VII Keeping of the Statements and Documents of Fund Assets Liquidation The Fund Custodian shall keep all the statements and documents relating to the liquidation of the Fund assets for at least 15 years.

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§ 18 Summary of Fund Contract

I. Rights and Obligations of the Unitholders, the Fund Manager and the Fund Custodian

(I) Rights and Obligations of the Unitholders The subscription of the Units by Investors shall be deemed as an acknowledgement and acceptance of the Fund Contract. Investors shall be the Unitholders and the parties to the Fund Contract from obtaining the Units raised under the Fund Contract until they no longer hold the Units. Unitholders shall not be required to seal or sign on the Fund Contract as parties to the Fund Contract.

Each Unit of the same class shall enjoy equal legitimate interests. 1. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the rights of Unitholders shall include but not limited to: (1) To share the income of the Fund assets; (2) To participate in the distribution of the remaining Fund assets after the liquidation; (3) To redeem the Units held by them under relevant laws; (4) To convene the Unitholders’ meeting under relevant regulations; (5) To attend or appoint proxies to attend the Unitholders’ meeting and exercise the voting rights over the matters deliberated at the Unitholders’ meeting; (6) To inspect or copy public disclosed information and materials on the Fund; (7) To monitor the investment operation of the Fund Manager; (8) To lodge lawsuits against the Fund Manager, the Fund Custodian and the Sales Agencies for the Fund for their activities with prejudice to their legitimate interests; (9) Other rights stipulated by the relevant laws, regulations and the Fund Contract.

2. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the obligations of Unitholders shall include but not limited to: (1) To comply with the Fund Contract; (2) To pay the amounts on the Subscription, Subscription and Redemption of the Fund and other expenses stipulated by the Fund Contract; (3) To assume the losses of the Fund and limited liabilities on the termination of the Fund Contract under the Units held by them. (4) Not to conduct activities with prejudice to the legitimate interests of the Fund and other parties to the Fund Contract; (5) To return the unjust enrichment obtained from the Fund Manager, the Fund Custodian and the Sales Agencies for the Fund for any reasons during the transactions of the Fund; (6) To implement the decisions passed at the Unitholders’ meeting;

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(7) Other obligations specified by the laws, regulations and the CSRC and stipulated in the Fund Contract.

(II) Rights and Obligations of the Fund Manager 1. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the rights of the Fund Manager shall include but not limited to: (1) To raise funds in accordance with laws; (2) To independently use and manage the Fund assets under laws, regulations and the Fund Contract from the effective day of the Fund Contract; (3) To receive the fund management fee under the Fund Contract and other fees stipulated by Laws and Regulations or approved by the CSRC; (4) To sell the Units; (5) To convene the Unitholders’ meeting; (6) To supervise the Fund Custodian under the Fund Contract and relevant Laws and Regulations. The Fund Manager shall report to the CSRC and other regulatory authorities any matter which in its opinion is a breach of the Fund Contract or the relevant Laws and Regulations by the Fund Custodian, and take necessary measures to protect the interests of Investors; (7) To nominate a new fund custodian in the event of replacement of the Fund Custodian; (8) To choose, appoint and replace the Sales Agencies, and to conduct supervision on and handling of relevant activities of Sales Agencies of the Fund; (9) To act as or appoint other qualified institutions as the Registration Institution of the Fund to handle the registration business for the Fund and obtain the fees stipulated in the Fund Contract; (10) To determine the distribution plan on the income of the Fund under the Fund Contract and the provisions of the relevant Laws and Regulations; (11) To determine to reject or temporarily suspend the application for Subscription and Redemption within the coverage stipulated in the Fund Contract; (12) In compliance with the relevant Laws and Regulations and the Fund Contract, to prepare and adjust the Operation Measures and to determine to adjust the structure and charging method of relevant fees of the Fund except raising the management fees, custodian fees and sale service fees; (13) To exercise the rights as the shareholder of the invested companies for the interest of the Fund and the rights from the investment in securities by the Fund assets for the interest of the Fund; (14) To conduct financing for the interest of the Fund as permitted by relevant Laws and Regulations; (15) To exercise the litigation right or to conduct other legal activities for the interest of the Unitholders in the name of the Fund Manager; 196

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(16) To choose and replace the law firm, the accounting firm, the securities brokerage and other external institutions providing services to the Fund; (17) Other rights stipulated by the relevant laws, regulations and the Fund Contract.

2. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the obligations of the Fund Manager shall include but not limited to: (1) To raise the Fund under relevant laws and to handle or appoint other institutions recognized by the CSRC to handle the offering, subscription, redemption and registration matters of the Units. The Fund Manager shall report to the CSRC and other regulatory authorities any matter which in its opinion is a breach of the Fund Contract, the agreement on the Fund sale and services agency or the relevant Laws and Regulations by the Fund Sales Agencies, and take necessary measures to protect the interests of Investors; (2) To handle the filing procedures of the Fund; (3) To manage and operate the Fund assets based on the principles of good faith and due diligence as from the effective day of the Fund Contract; (4) To employ adequate qualified personnel with professional qualifications to conduct analysis and make decisions regarding the Fund’s investment, and to manage and operate the Fund assets in a professional business manner; (5) To establish and improve the systems such as internal risk control, supervision and auditing, financial control and personnel management, so as to ensure the independence of the Fund assets and the assets of the Fund Manager, and ensure that various funds are independent of one another in the aspects of assets operation and financial control etc.; (6) Not to seek interests for itself or any third party with the Fund assets and not to authorize any third party to operate the Fund assets unless otherwise provided by the Funds Law, the Fund Contract and other relevant regulations; (7) To be supervised by the Fund Custodian according to the law; (8) To take proper measures to make the calculation of the subscription, application, redemption and cancellation of the Fund assets prices meet the provisions of the Fund Contract and other legal documents and calculate and announce the NAV of the Fund to determine the prices on the application and redemption of the Units. (9) To check the accounting calculation of the Fund and prepare the financial accounting report on the Fund; (10) To prepare the quarterly report, interim report and annual report on the Fund; (11) To perform the obligations of information disclosure and reporting in strict accordance with the Funds Law, the Fund Contract and other relevant Laws and Regulations; (12) To keep business secrets of the Fund and not to disclose any fund investment plans, investment intentions and so on. To keep confidential and not disclose to others any information of the Fund before the same is made available to the public, unless otherwise specified in the Funds Law, the Fund Contract and other relevant Laws and Regulations; 197

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(13) To distribute the fund income to the Unitholders under the distribution plan on the fund income as stipulated in the Fund Contract; (14) To handle the subscription and redemption application as stipulated and pay the redemption amounts in a timely manner in full; (15) To convene the Unitholders’ meetings according to the Funds Law, the Fund Contract and other relevant Laws and Regulations; (16) To keep the accounting books, statements, records and other relevant materials on the management of the Fund assets for more than 15 years; (17) To ensure that all documents and materials to be delivered to the Investors are sent within the specified time. To ensure that the public materials related to the Fund are always available to the investors according to the time and method specified herein and the investors can obtain the copies of relevant materials; (18) To join in the fund liquidation group and participate in the keeping, clearing, valuation, realization and distribution of the Fund assets; (19) To report to the CSRC and give notice to the Fund Custodian in a timely manner in the case of dissolution, legal revocation or being announced bankruptcy in accordance with laws; (20) To assume the compensation liability in the case of any loss of Fund assets arising from the violation of the Fund Contract by the Fund Manager, which shall not be relieved as a result of its withdrawal of services; (21) To supervise the Fund Custodian in performing its obligations under relevant Laws and Regulations and the Fund Contract. When the Fund Custodian breaches the Fund Contract and causes losses to the Fund assets, the Fund Manager shall claim compensations from the Fund Custodian for the interest of the Unitholder; (22) When the Fund Manager appoints a third party to handle its obligations, it shall assume responsibilities for the activities of the third party in handling relevant fund matters. When the Fund assets or the interest of the Fund Custodian suffers losses due to the responsibilities of the third party and the Fund Manager firstly assumes the responsibilities, the Fund Manager shall be entitled to claim compensations from the third party; (23) To exercise the litigation right or to conduct other legal activities for the interest of the Unitholders in the name of the Fund Manager; (24) When the Fund Manager fails to meet the conditions for the filing of the Fund during the raising period and the Fund Contract fails to come into effect, the Fund Manager shall assume all fund-raising fees and return the raised funds with the interest on bank deposit for the same duration to the subscribers of the Fund within 30 days after the conclusion of the offering period; (25) To implement the decisions passed at the Unitholders’ meeting; (26) To establish and keep the register of the Unitholders and provide the Fund Custodian with 198

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the register of the Unitholders regularly or on ad hoc basis; (27) Other obligations under the laws and regulations and as required by the CSRC and stipulated in the Fund Contract.

(III) Rights and Obligations of the Fund Custodian 1. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the rights of the Fund Custodian shall include but not limited to: (1) To hold and keep in safe custody the Fund assets in accordance with the Laws and Regulations and the provisions of the Fund Contract from the effective day of the Fund Contract; (2) To receive the custodian fees on the Fund as stipulated in the Fund Contract and other incomes stipulated by Laws and Regulations or approved by regulatory departments; (3) To supervise the Fund Manager’s investment operation on the Fund. The Fund Custodian shall promptly report to the CSRC any matter which is in breach of the Fund Contract or the relevant Laws and Regulations and causes significant losses to the Fund assets and the interests of other parties by the Fund Manager, and take necessary measures to protect the interests of Investors; (4) To open securities accounts at the Shanghai Branch and Shenzhen Branch of the China Securities Depository and Clearing Corporation Limited in the joint names of the Fund Custodian and the Fund; (5) To open capital accounts for securities trading in the name of the Fund Custodian for the settlement of securities trading; (6) To open inter-bank bond custody accounts at the Central National Bonds Registration and Settlement Corporation in the name of the Fund to handle the back office matching of the Fund and investment bonds and settlement; (7) To propose the convening or holding of the Unitholders’ meeting; (8) To nominate a new fund manager in the event of replacement of the Fund Manager; (9) Other rights stipulated by the relevant laws, regulations and the Fund Contract.

2. In accordance with the Funds Law, the Operation Measures and other relevant regulations, the obligations of the Fund Custodian shall include but not limited to: (1) The Fund Custodian shall keep the Fund assets in custody based on the principles of good faith and due diligence; (2) The Fund Custodian shall establish a specific fund custody department, operate in a satisfactory business premise, employ adequate full-time qualified personnel who are familiar with the fund custody business, and undertake the matters of Fund assets custody; (3) The Fund Custodian shall establish and improve the internal control system, supervisory and auditing system, financial and personnel management system, to ensure the security of the Fund assets, to ensure the independence of the Fund assets under its custody, the 199

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Fund Custodian’s own assets and the assets of other funds under its custody; to maintain separate accounts, conduct separate accounting and keep separate books for different funds, and to ensure the independence among different funds in terms of account setup, fund transfer and account recording; (4) The Fund Custodian shall not gain interests for itself or any third party with the Fund assets and not to authorize any third party to keep the Fund assets in custody unless otherwise provided by the Funds Law, the Fund Contract and other relevant regulations; (5) The Fund Custodian shall keep all the important contracts and relevant certificates signed by the Fund Manager on behalf of the Fund in a safe manner; (6) The Fund Custodian shall open the capital accounts and securities accounts for the Fund assets, execute the investment orders of the Fund Manager and undertake the clearing and settlement matters in a timely manner; (7) The Fund Custodian shall keep business secrets of the Fund and not to disclose to others any information of the Fund before the same is made available to the public, save for disclosures required by the Funds Law, the Fund Contract and other relevant regulations; (8) The Fund Custodian shall review and verify the NAV of the Fund, the NAV of the Units and the application for the Units and the redemption prices; (9) The Fund Custodian shall handle information disclosure matters related to the custody business of the Fund; (10) The Fund Custodian shall provide its opinions in the financial and accounting report of the Fund, the quarterly, interm and annual reports of the Fund, to illustrate whether the Fund Manager’s operation in all major aspects is in strict accordance with the provisions of the Fund Contract or not; in the event that the Fund Manager fails to perform the provisions in the Fund Contract, it is also necessary to specify whether proper measures have been taken by the Fund Custodian; (11) To keep the records of the custody business activities of the Fund, accounting books and statements of the Fund and other relevant materials for more than 15 years; (12) The Fund Custodian shall prepare the register of the Unitholders; (13) The Fund Custodian shall prepare the relevant accounting books and check with the Fund Manager; (14) The Fund Custodian shall pay the income and Redemption amount of the Unitholders pursuant to the instructions of the Fund Manager or the related regulations; (15) The Fund Custodian shall convene the Unitholders’ meetings or cooperate with the Unitholders in holding the Unitholders’ meetings according to relevant laws; (16) The Fund Custodian shall supervise the investment operation of the Fund Manager according to Laws and Regulations and the provisions in the Fund Contract; (17) The Fund Custodian shall join in the Fund assets liquidation group and participate in the keeping, clearing, valuation, realization and distribution of the Fund assets; (18) The Fund Custodian shall report to the CSRC and the Banking Regulatory Authorities in 200

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a timely manner in the case of dissolution, legal revocation or being announced bankruptcy in accordance with laws; (19) The Fund Custodian shall be liable for any and all losses or damage to the Fund assets arising from the violation of the Fund Contract. Such liability shall not be relieved as a result of its withdrawal of services; (20) The Fund Custodian shall perform its obligations under relevant Laws and Regulations and the provisions of the Fund Contract. When it causes losses to the Fund assets arising from the violation of the Fund Contract by the Fund Manager, the Fund Custodian shall claim compensations from the Fund Manager for the interests of the Fund; (21) The Fund Custodian shall implement the decisions passed at the Unitholders’ meeting; (22) Other obligations under the laws and regulations and as required by the CSRC and stipulated in the Fund Contract.

II. Convening, Agenda and Voting Procedures and Rules of the Unitholders’ meeting The Unitholders’ meeting shall be composed of the Unitholders or the legal representative(s) of the Unitholders. Each Unit held by the Unitholders shall have equal voting right.

(I) Circumstances for Convening Meeting 1. The Unitholders’ meeting shall be convened in any of the following situations: (1) To terminate the Fund Contract; (2) To replace the Fund Manager; (3) To replace the Fund Custodian; (4) To change the operation model of the Fund; (5) To raise the remunerations of the Fund Manager and the Fund Custodian except raising such remunerations are under the requirements of Laws and Regulations; (6) To change of the category of the Fund; (7) To merge with other funds; (8) To change the investment targets, scope and strategies of the Fund; (9) To change the procedures of the Unitholders’ meeting; (10) When the Fund Manager or the Fund Custodian requires convening the Unitholders’ meeting; (11) The Unitholder/Unitholders holding more than 10% (including) of all Units (calculated on the Units held on the day when the Fund Manager receives the agenda, same as below) solely or together makes a written request to convene the Unitholders’ meeting for the same matter; (12) Other matters which may have significant influences on the rights and obligations of parties related to the Fund; (13) Other circumstances required by laws, regulations, the Fund Contract or as required by the CSRC to convene the Unitholders’ meeting. 201

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2. In any of the following situations, it is not required to convene a Unitholders’ meeting and the modifications can be made after the negotiation between the Fund Manager and the Fund Custodian: (1) To lower the fund management fee rate or the fund custodian fee rate; (2) To increase the charging of fund fees in compliance with the relevant Laws and Regulations; (3) To adjust the Subscription fees rate and reduce the Redemption fees rate within the scope specified in the Fund Contract; (4) To modify the Fund Contract because of changes made in the relevant Laws and Regulations; (5) Any modification to the Fund Contract without any disadvantage in substance to the interests of the Unitholders or does not affect the rights and obligations of the Parties to the Fund Contract; (6) Other circumstances where the convention of the Unitholders’ meeting is not required in accordance with Laws and Regulations or the Fund Contract.

(II) Convener and Convening Method of the Meeting 1. Unless otherwise stipulated by Laws and Regulations or the Contract, the Unitholders’ meeting shall be convened by the Fund Manager. 2. If the Fund Manager does not convene the meeting according to the relevant rules or cannot convene a Unitholders’ meeting, the Fund Custodian shall convene the Unitholders’ meeting. 3. The Fund Custodian shall request in writing to the Fund Manager to convene the Unitholders’ meeting if it considers it necessary. The Fund Manager shall decide whether to convene the Unitholders’ meeting or not and give a written notice to the Fund Custodian within 10 days after receipt of the written request. If the Fund Manager decides to convene the Unitholders’ meeting, the Unitholders’ meeting shall be held within 60 days after the written notice; if the Fund Manager decides not to convene the Unitholders’ meeting and the Fund Custodian still regards it as necessary, the Fund Custodian shall convene the Unitholders’ meeting. 4. If the Unitholders holding 10% or more Units in aggregate consider it necessary to convene a Unitholders’ meeting, they shall submit a written request to the Fund Manager to convene a Unitholders’ meeting. The Fund Manager shall decide whether to convene the Unitholders’ meeting or not and give written notice to the representative(s) of the requesting the Unitholders and the Fund Custodian within 10 days after receipt of the written request. If the Fund Manager decides to convene the Unitholders’ meeting, it shall convene the Unitholders’ meeting within 60 days after the written notice; if the Fund Manager decides not to convene the Unitholders’ meeting and the Unitholders representing 202

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10% or more Units in aggregate still regard it necessary to convene the Unitholders’ meeting, they shall submit a written request to convene the Unitholders’ meeting to the Fund Custodian. The Fund Custodian shall decide whether to convene the Unitholders’ meeting or not and give a written notice to the representative(s) of the requesting Unitholders and the Fund Manager within 10 days after receipt of the written request; if the Fund Custodian decides to convene the Unitholders’ meeting, it shall convene the Unitholders’ meeting within 60 days after the written notice. 5. If the Unitholders holding 10% or more Units in aggregate consider it necessary to convene a Unitholders’ meeting on the same matter while the Fund Manager and the Fund Custodian decided not to convene, the Unitholders holding 10% or more Units individually or jointly shall have the right to convene on their own and shall file such request to the CSRC at least 30 days in advance. Where the Unitholders convene the Unitholders’ meeting on their own according to the laws, the Fund Manager and the Fund Custodian shall coordinate and shall not impede or interfere. 6. The conveners of the Unitholders’ meeting shall be responsible for determining the date, time, venue and method of the Meeting and the registration day of interests.

(III) The Date, Time, Venue and Form of Notice to Convene the Unitholders’ meeting 1. The convener shall issue a public notice regarding the convening of the Unitholders’ meeting 40 days in advance on the Designated Medium. The notice to convene the Unitholders’ meetings shall at least specify the following: (1) The date, time, venue and form of the meeting; (2) The matters for discussion, the agenda procedure and voting form of the meeting; (3) The date of registration of the rights and interests of the Unitholders who have the right to attend the Unitholders’ meeting; (4) The delivery time and place required in the written notice of power of attorney (including but not limited to the capacity, power and valid period of the proxy etc.); (5) The name and the telephone number of the standing contact person. 2. If a Unitholders’ meeting is convened and votes are cast by means of communication, the convener shall determine the means of communication and the method of written voting, and specify in the notice the specific means of communication, the appointed notary public and its contact method and person, and the method of delivery and receipt of written votes of the Unitholders’ meeting. 3. If the convener is the Fund Manager, it shall notify the Fund Custodian in writing to supervise the counting of the written votes at the specified meeting venue. If the convener is the Fund Custodian, it shall notify the Fund Manager in writing to supervise the counting of the written votes at the specified meeting venue. If the convener is the Unitholders, they shall notify the Fund Manager and Fund Custodian in writing, to supervise the counting of the written votes at the specified meeting venue. Where the Fund Manager or the Fund 203

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Custodian refuses to appoint representatives to supervise the counting of the written votes, it shall not affect the voting results of the voting opinions.

(IV) How to Attend the Unitholders’ meeting The Unitholders’ meeting can be held in the form of meeting by personal attendance or by communication. The method to convene a meeting shall be determined by the convener, but in the case of the replacement of the Fund Manager and the Fund Custodian, the Unitholders’ meeting shall be held by personal attendance. 1. Meeting by personal attendance. The Unitholder or his proxy with a power of attorney to vote attends the meeting, and the authorized representatives of the Fund Manager and the Fund Custodian shall attend the Unitholders’ meeting. Where the Fund Manager or the Fund Custodian refuses to appoint representatives to attend the Meeting, it shall not affect the effectiveness of the voting. If personal attendance is adopted, the Unitholders’ meeting may commence its agenda only when both of the following requirements are met: (1) The certificates of holdings of Units of the attending Unitholders, the certificates of holdings of Units of the principals as presented by their proxies and the written powers of attorney of the principals shall meet all the requirements of the relevant Laws and Regulations, the Fund Contract and the meeting notice and shall be consistent with certificates of holdings of Units and the registered materials held by the Fund Manager; (2) A verified consolidation of the certificates of holdings of Units held as at the date of registration of unit holdings presented by the attendees shall indicate that the Units corresponding to all valid certificates represent 50% or more of the total Units of the Fund on the date of registration of unit holdings.

2. Meeting by communication. A meeting by communication refers to that the Unitholder delivers the voting on the matters to vote in written form to the address designated by the conveners. Voting shall be made in written form in the meetings by communication. If all the following conditions are met, the meeting by communication shall be regarded as effective: (1) After announcing the meeting notice in accordance with the Fund Contract, the convener makes reminding announcement repeatedly within 2 Business Days; (2) Under the supervision of the Fund Custodian (if the Fund Custodian is the convener, it shall be the Fund Manager) and a notary public, the convener collects the written votes from the Unitholders by the method stated in the meeting notice. Where the Fund Custodian or the Fund Manager refuses to participate in the collection of written votes, it shall not affect the voting results; (3) The Units held by the Unitholders submitting valid written votes or authorizing others on behalf of them in aggregate account for 50% or more of the total number of Units on the 204

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date of registration of unit holdings; (4) For the Unitholders directly issuing written votes or the proxies appointed by the Unitholders to issue written votes in (3) above, the certificates of holdings of Units, the certificates of holdings of Units of Unitholders who attend by proxy and the written powers of attorney of the principals submitted at the same time shall meet all the requirements of the relevant Laws and Regulations, the Fund Contract and the meeting notice and be consistent with the records of the registration institute of the Fund. The power of attorney issued by the principal shall meet the requirements of the relevant Laws and Regulations, the Fund Contract and the meeting notice; (5) The meeting notice shall be submitted to the CSRC for filing before its announcement. If the voting process is handled by means of communication, the written votes which apparently comply with the requirements on confirming the identification of investors in the meeting notice shall be deemed as valid votes, unless there are sufficient evidence to the contrary. Any vote with vague or contradictory expression shall be deemed invalid and shall be counted into the total Units represented by the Unitholders issuing written opinions.

(V) Agenda and Procedure 1. Agenda and proposal right Any major matters that affect the interests of Unitholders may be put on the agenda, e.g. modification of the Fund Contract, determination on the termination of the Fund Contract, replacement of the Fund Manager, replacement of the Fund Custodian, merging with other funds and other matters which the convener considers necessary to be submitted to the Unitholders’ meeting for discussion. The Fund Manager, the Fund Custodian and the Unitholders holding more than 10% (inclusive) of the Units on the registration day of the rights and interests individually or together can submit the proposals voted by the Unitholders to the convener of the meeting before the convener of the meeting issues the notice of the meeting. They can also submit temporary proposals to the convener of the meeting after the notice of the meeting is issued. Temporary proposals shall be submitted to the convener at least 35 days before the convening day of the meeting and announced by the convener. Any amendments to the original proposals shall be announced at least 30 days before the convening of the Unitholders Meeting after the convener of the Unitholders Meeting issued the notice of convening the meeting. Voting cannot be made in a Unitholders’ meeting for an agenda item that was not announced by the convener. The convener shall review the temporary proposals submitted by the Fund Manager, the Fund Custodian and the Unitholders and shall announce those proposals meeting the conditions 30 days before the convening of the meeting. The convener of the meeting shall review the proposals according to the following principles: 205

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(1) Relevance. The convener shall submit the proposals whose matters involved having direct relationship with the Fund and not exceeding the power of the Unitholders Meeting stipulated in Laws and Regulations and the provisions of the Fund Contract to the meeting for deliberation. For those failing to meet the above requirements, they shall not submit to the meeting for deliberation. If the convener decides not to submit the proposals of the Unitholders for voting at the meeting, it shall give explanations at the Unitholders Meeting. (2) Procedures. The convener of the meeting can make decisions on the procedural matters involved in the proposals. If the proposals have to be subdivided or consolidated, it shall obtain the consent from the original proposers. If the original proposers do not agree to change, the person presiding the meeting can submit to the Unitholders Meeting to decide the procedural matters and it shall conduct deliberation according to the procedures decided at the Unitholders Meeting. If the proposals made by the Unitholders holding more than 10% (inclusive) of The proposals submitted by the Unitholders with more than 10% (inclusive) of the Units on the registration day of the rights and interests individually or together or the proposals made by the Fund Manager or the Fund Custodian to the Unitholders Meeting were not deliberated at the Unitholders Meeting, the same proposals shall be submitted to the Unitholders Meeting for deliberation no less than 6 months later unless the Laws and Regulations otherwise stipulated. If amendments have to be made to the original proposals after the convener of the Unitholders Meeting issued the notice for the meeting, it shall be announced at least 30 days before the convening of the Unitholders Meeting. Otherwise, the day of convening the meeting shall be postponed to allow 30 days in between the convening day and the announcement day. 2. Proceedings of the meeting (1) Meeting by personal attendance In the case of the meeting by personal attendance, the person presiding the meeting shall firstly specify and announce the Scrutineer according to the procedure specified in Clause (VII) below, and then read out the proposals, which shall be discussed and voted on to form the meeting resolutions. If the convener of the Unitholders’ meeting is the representative authorized by the Fund Manager and the authorized representative of the Fund Manager fails to preside over the Meeting, the Fund Custodian shall authorize their representatives attending the Meeting to provide over the Meeting. If the authorized representatives of the Fund Manager and the Fund Custodian fail to preside over the Meeting, a Unitholder shall be selected to provide over the Unitholders’ meeting by a 50% (inclusive) majority vote of the Units of the participating Unitholders. Where the Fund Manager and the Fund Custodian fail to participate at or preside over the Unitholders’ meeting, it shall not affect the effectiveness of the resolutions passed at the Unitholders’ meeting. The convener of the Meeting shall prepare the signature register of the participants to the Meeting. The register shall set out the name, ID Card number and the residential address of the participants, the Units held or represented with voting right, the name of the principal (or company 206

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) name) and other matters. (2) Meeting by communication For a meeting by communication, the convener shall announce the agenda at least 30 days in advance. All the valid votes shall be counted within 2 days after the announced voting deadline under the supervision of a notary public, then the resolutions will be formed.

(VI) Voting Each Unit held by the Unitholder represents one vote. Resolutions of the Unitholders’ meetings include ordinary resolutions and special resolutions. 1. Ordinary resolutions. To be effective, an ordinary resolution shall be approved by a majority vote of more than 50% (inclusive) of the voting rights held by the attending Unitholders. Except for the matters defined in paragraph 2 below which must be approved with a special resolution, all other matters shall be approved with an ordinary resolution. 2. Special resolutions. To be effective, a special resolution shall be made by more than 2/3 (inclusive) of the voting rights held by the attending Unitholders or their proxies. The change of operation models of the Fund, the replacement of the Fund Manager or the Fund Custodian and the termination of the Fund Contract shall be approved by special resolution. The Unitholders’ meeting adopts registered voting. If the voting process is handled by means of communication, the written votes which apparently comply with the requirements on confirming the identification of investors in the meeting notice shall be deemed as valid votes, unless there are sufficient evidence to the contrary. Any vote with vague or contradictory expression shall be deemed invalid and shall be counted into the total Units represented by the Unitholders issuing written opinions. Each proposal or each topic in the same proposal on the agenda of a Unitholders’ meeting shall be discussed and voted on separately.

(VII) Votes counting 1. On-site Meeting (1) If the Unitholders’ meeting is convened by the Fund Manager or the Fund Custodian, the chairman of the meeting shall announce, after the commencement of the meeting, to elect two representatives of the Unitholders among the attending Unitholders together with one representative appointed by the convener to act as the voting Supervisors. If the meeting is convened by the Unitholders, the director of the meeting shall announce, after the commencement of the meeting, to elect three representatives of the Unitholders among the attending Unitholders to act as the voting Supervisors. Where the Fund Manager or the Fund Custodian fails to attend the meeting, it shall not affect the effectiveness of the votes counting. (2) The scrutineer shall count the votes immediately after the Unitholders cast their votes, and then the chairman of the meeting shall announce the vote counting result. 207

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(3) If the scrutineer of the meeting or the Unitholders doubts the submitted voting result, the votes may be recounted immediately after the announcement of the voting results. The scrutineer shall recount the votes for no more than one time. The scrutineer shall immediately announce the results after the recounting. (4) The counting process shall be notarized by the notary public. Where the Fund Manager or the Fund Custodian refuses to attend the meeting, it shall not affect the effectiveness of the votes counting. 2. Meeting by communication In the case of the meeting by communication, the votes shall be counted in the following manner: The votes of meeting by communication shall be counted by two scrutineers authorized by the convener under the supervision of an authorized representative of the Fund Custodian (if the meeting is convened by the Fund Custodian, it shall be the authorized representative of the Fund Manager) and a notary public shall notarize the vote counting process. Where the Fund Manager or the Fund Custodian refuses to appoint representatives to supervise the vote counting process on the written voting, it shall not affect the effectiveness of the voting and the votes counting.

(VIII) Effectiveness and Announcement The convener shall report the matters approved by the Unitholders’ meeting to the CSRC for approval or filing within 5 days after approval of the relevant resolution. Resolutions approved by the Unitholders’ meetings shall become effective on the day the CSRC approves or issues non-objection opinion in accordance with the law. Resolutions of the Unitholders’ meeting shall be announced on the Designated Media within 2 days after they become effective. If the Unitholders’ meeting is convened by means of communication, the full text of notarial certificates and the names of notary publics and notaries shall be announced at the announcement of resolutions of the Unitholders’ meeting. The Fund Manager, the Fund Custodian and the Unitholders shall perform the valid resolutions of the Unitholders’ meetings. Resolutions of the Unitholders’ meeting shall have binding effects on all of the Unitholders, the Fund Manager and the Fund Custodian. (IX) Unitholders of Class H Unit Participating Unitholders’ meeting

Hong Kong Representative or Hong Kong Sale Institutions of the Fund can act as the nominee of Class H Unit of the Fund, and attend Unitholders’ meeting on behalf of the Unitholders of H Unit Class, and can exercise voting rights of Unitholders of Class Unit on behalf of them.

III. Distribution Principle and Implementation Means of Fund Income (I) Distribution Principle of Fund Income 1. Under the conditions on the distribution of the income of the Fund, a maximum of 12 distributions can be made for the income of each class of units of the Fund every year and 208

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the total proportion of the distribution of each class of units shall not be less than 50% of the distributable income of that class of units for the year. If the Fund Contract has been effective for less than 3 months, it may choose not to make distributions of the income;

2. There are two types of income distribution methods of Class A Unit and Class C Unit of the Fund: cash dividends and dividend reinvestments. Investors can choose cash dividends or reinvestment of cash dividends according to the net assets value of the Fund on the ex- dividend date and automatically transfer to the corresponding Fund. In case the investors do not make any option, the default income distribution method of Class A Unit and Class C Unit of the Fund shall be in form of cash dividends. At present, the income distribution method of Class H Unit of the Fund is only cash dividends. In case where conditions are permitted in the future, dividend reinvestment shall be added to the income distribution method of Class H Unit of the Fund, and options will be given to Unitholders of Class H Unit. Such adjustment shall be effective after consultation between Fund Manager and Fund Custodian, and report to the CSRC and issue announcement. It is not required to convene Unitholders’ Meeting for consideration and approval. After the distribution method of dividends reinvestment is added, in case Unitholders of Class H Unit have not made any choice, the default income distribution method of Class H Unit of the Fund shall be cash dividends. 3. When the Fund recorded net losses in the corresponding investment period, it will not conduct the distribution of income. 4. The income of the Fund shall make up the losses of the previous year first before making the income distribution for the year. 5. The net value of the Unit after the distribution of the income of the Fund shall be not below its nominal value. 6. The distribution of each Unit shall be different due to the fact that no sale service fee is chargable to Class A Unit and Class H Unit while sale service fee is chargable to Class C Unit. Each Unit of the same class shall enjoy the same right for distribution. 7. Where Laws and Regulations or regulatory authorities stipulate otherwise, it shall be subject to the stipulations. (II) Distribution Plan of Fund Income The distribution plan on the income of the Fund shall set out the net income of the Fund, the distribution objects of the income of the Fund, the distribution time, the distribution amount and proportion as well as the distribution methods. (III) Determination, Announcement and Implementation of Distribution Plan on Income The distribution plan on the income of the Fund shall be prepared by the Fund Manager and approved by the Fund Custodian. It shall be announced at the designated media at least within 2

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) days and report to the CSRC for filing. (IV) Expenses arising from Distribution of Income of Fund The procedural fees arising from bank transfers and other procedural fees from the distribution of the bonus shall be assumed by investors on their own. When the bonus dividend of investors is below certain amount and is not sufficient to pay the procedural fees on bank transfers and other procedural fees, the registration institute of the Fund can automatically transfer the cash bonus of the Unitholders into the Unit based on the ex-net value of the Unit on the registration day of interests. The calculation method for the reinvestment with bonus dividends will follow the Operation Measures.

IV. Accrual methods, accrual standards, and payment terms of the Fund expenses (I) Management fee payable to the Fund Manager The management fee of the Fund shall be accrued at the rate of 1.5% per annum of the NAV of the preceding day. The calculation method is listed as follows: H＝E×1. 5%÷ number of days in the current year H is the management fee accrued every day E is the NAV of the Fund assets on the preceding day The management fee is calculated and accrued daily to the end of month and is payable monthly in arrears. The Fund Manager will send the payment order for the Fund management fee to the Fund Custodian, and the Fund Custodian will check and make a lump-sum payment to the Fund Manager from the Fund assets within the first 2 Business Days of the following month. In case of statutory holidays or rest days, the payment date shall be postponed accordingly. (II) Custodian fee payable to the Fund Custodian The custodian fee shall be accrued at the rate of 0.25% per annum of the NAV of the Fund of the preceding day. The calculation method is listed as follows: H＝E×0.25%÷number of days in the current year H is the custodian fee accrued per day E is the NAV of the Fund assets on the preceding day The custodian fee is calculated and accrued daily to the end of month and is payable monthly in arrears. The Fund Manager will send the payment order for the Fund custodian fee to the Fund Custodian, and the Fund Custodian will check and make a lump-sum payment to the Fund Manager from the Fund assets within the first 2 Business Days of the following month. In case of statutory holidays or rest days, the payment date shall be postponed accordingly. (III) Sale Service Fee of Class C Unit No sale service fee shall be chargable for Class A Unit and Class H Unit. The annual sale service fee for Class C Units shall be at the rate of 0.8% per annum. The annual sale service fee for Class C Units of the Fund shall be accrued at the rate of 0.8% per annum of the NAV of Class C Units on the preceding day.

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The calculation of sale service fee of Class C Unit as follows:- H= E x 0.8% /no. of days H is the sale service fee of Class C Unit E is the NAV of the Class C Unit The sale service fee shall be calculated day by day until the end of the calender month and payable monthly. Instruction shall be given by the Fund Maganer to the Fund Custodian and after the verification by the Fund Custodian, the Fund Custodian shall pay the sale service fee to each of the sale agencies from the fund asset or the Fund Manager pay the same to each of the sale agencies 2 days prior the end of the calender month. If the payment date is a statutory holiday, the payment date shall postpone to the next day.

(IV) For the details of the fees on the sale of the Fund, the accrual methods, the accrual standards and payment terms, please refer to the chapter headed “Subscription and Redemption of Units”.

V. Investment Objective and Restrictions on Fund assets (I) Investment Objective The Fund is a mixed fund and invests in listed companies with good asset backing and potential to unlock value (with stable earnings and profitability can be maintained or are about to turnaround) by way of bottom-up selecting method with moderate risk exposure and steady liquidity for the purpose of long-term and stable increase in asset value of the Fund. (II) Investment Scope The Fund invests in financial instruments with good liquidity, including stocks (including depositary receipts (same as below) and bonds publicly issued and listed within China according to the relevant laws and regulations and other financial instruments permitted by the CSRC. The portfolio of the Fund consists of: stocks (including depositary receipts) (60%-95%), of which investment in value stock shall be no less than 80%; bonds, money market instruments and other financial instruments (0-35%); warrants (0-3%); asset-backed securities (0-20%); and cash reserved by the Fund and government bonds maturing within 1 year shall make up no less than 5% of the NAV of the Fund in total, among which cash shall exclude deposit reservation for balance, refundable deposits and receivable subscription accounts etc.. If the Laws and Regulations or the competent authority allows the Fund to invest in other types of investment in the future, the Fund Manager can include such types of investment into its investment scope. (III) Investment Restrictions 1. Prohibited Activities To protect the lawful interests of the unitholders, the Fund shall not engage in the following conducts: 211

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(1) Engage in securities underwriting; (2) Provide loans and guarantees to others; (3) Engage in any investment involving unlimited liabilities to the Fund; (4) Invest in other funds, excluding the funds otherwise required by laws and regulations or CSRC; (5) Contribute capital to the Fund Manager or Fund Custodian or investing in stocks or bonds issued by the Fund Manager or Fund Custodian; (6) Invest in or underwrite during the underwriting period the securities issued by the controlling shareholders of the Fund Manager or Fund Custodian or other companies in which the Fund Custodian having material interests; (7) Commit insider trading, and market manipulation and other unlawful securities transaction; (8) Other acts forbidden by prevailing laws and regulations as well as those stipulated in the Fund Contract. If the above restrictions removed by laws and regulations as well as the supervisory authorities, the Fund Manager can be released from the above restrictions after appropriate procedures. 2. Restrictions on Investment Portfolio The portfolio of the Fund is subject to the following restrictions: (1) The market value of the shares of a listed company held by the Fund shall not exceed 10% of the NAV of the Fund; (2) The exposure of this Fund and other funds managed by the Fund Manager to a security issued by a company shall not exceed 10% of that security; (3) The balance of the funds for the repurchase of bonds in the interbank market shall not exceed 40% of the NAV of the Fund; (4) The Fund shall not violate the agreement about the scope of investment and investment proportion under the Fund Contract; (5) The total amount of warrants invested in by the Fund on any trading day shall not exceed 0.5% of the NAV of the Fund assets on the preceding trading day. The market value of all the warrants held by the Fund shall not exceed 3 % of the NAV of the Fund. Where the Fund and any other funds managed by the Fund Manager hold the same warrant, the holdings shall not exceed 10% of such warrant. Where the Laws and Regulations or regulatory authorities otherwise provide for the said proportion restrictions, such provisions shall be complied with; (6) Tradable stocks issued by a listed company as held by all open-ended funds managed by the Fund Manager (including open-ended funds and periodically open-ended funds that are at open period) shall not exceed 15% of the total tradable stocks of such listed company. Tradable stocks issued by a listed company as held by all investment portfolios managed by the Fund Manager shall not exceed 30% of the total tradable stocks of such listed company; 212

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(7) The total market value of active investment in Illiquid Assets shall not exceed 15% of the NAV of the Fund; where the Fund fails to comply with such ratio limit for any reason not attributable to the Fund Manager such as the fluctuation of the securities market, the suspension of trading in stocks of the listed company and the change in Fund size, the Fund Manager shall not actively increase the investments in Illiquid Assets; (8) When the Fund engages in a reverse repurchase transaction with privately offered asset management product and other entities prescribed by the CSRC as counterparty, the criteria for collaterals that are acceptable shall remain consistent with the investment scope as stipulated by the Fund Contract; (9) The investment ratio of investment in all types of asset-backed securities of the same original right owner by the Fund shall not exceed 10% of the NAV of the Fund; the market value of all asset-backed securities held by the Fund shall not exceed 20% of the NAV of the Fund; the ratio of the same (same credit rating) asset-backed securities held by the Fund shall not exceed 10% of the size of such asset-backed securities; investment in all types of asset-backed securities of the same original right owner by all funds managed by the Fund Manager shall not exceed 10% of the total size of such types of asset-backed securities; (10) Where the Fund assets are engaged in stock shares offering, the amount reported by the Fund shall not exceed the total asset size of the Fund. The reported number of shares shall not exceed the total amount of the shares to be offered by such company; (11) The Fund’s investment restriction in depositary receipts shall be based on stocks listed and traded on mainland stock exchanges. (12) Other investment restrictions stipulated by related laws and regulations and supervisory authorities. Except for the abovementioned items (7) and (8), if the above restrictions removed by laws and regulations as well as the supervisory authorities, the Fund Manager can be released from the above restrictions after appropriate procedures. If any factor (other than the Fund Manager), such as fluctuation of stock market, the change of the listed companies’ or the Fund’s size, makes the Fund’s investment proportion become incompliant with the investment proportion required above, the Fund Manager shall make adjustments within ten Business Days. If other provisions are stipulated by the Laws and Regulations, those provisions shall be complied with.

VI. Calculation Method and Announcement Method of NAV of Fund The NAV of the Fund refers to the GAV of the Fund less the debts of the Fund. After the Fund Contract came into effect, the Fund Manager shall announce the NAV of the Units and the accrual dnet value of each of the Unit at least once a week before handling the application or redemption of the Units on the designated websites. After handling the application or redemption of the Units, the Fund Manager shall disclose the 213

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) net value of the Fund and the accumulated net value of each of the Unit no later than the following day of each Open Day through designated website, website of the Sales Institutions or website of the sales branches of the Units and other media. The Fund Manager shall announce the NAV of the Units and the accrual net value of each of the Unit no later than the following day of the last day in each half year and each year on the designated websites. .

VII. Reasons and Procedures for Cancelling and Termination of Fund Contract and Liquidation Method of Fund assets (I) Modification of the Fund Contract 1. The resolutions on the following matters on the alteration of the Fund Contract shall be passed at the Unitholders’ Meeting: (1) To terminate of the Fund Contract; (2) To replace the Fund Manager; (3) To replace the Fund Custodian; (4) To change the operation mode of the Fund; (5) To raise the remunerations of the Fund Manager and the Fund Custodian and to raise sale service fees other than raising such remunerations are under the requirements of Laws and Regulations; (6) To change the category of the Fund; (7) To merge with other funds; (8) To change the investment targets, scope and strategies of the Fund; (9) To change the procedures of the Unitholders’ Meeting; (10) Other matters which may have significant influences on the rights and obligations of parties related to the Fund. Under any of the following circumstances, it can be changed and announced with the consents of the Fund Manager and the Fund Custodian and report to the CSRC for filing without the resolutions passed at the Unitholders’ Meeting: (1) To lower the fund management fee rate or the fund custodian fee or sale service fees; (2) To increase the charging of fund fees required by laws and regulations; (3) To adjust the Subscription fees rate and reduce the Redemption fees rate of the Fund within the scope specified in the Fund Contract; (4) To modify the Fund Contract because of changes made in the relevant Laws and Regulations; (5) Any alteration to the Fund Contract without any disadvantage in substance to the interests of the Fund Unitholders or changing the rights and obligations of the Parties to the Fund Contract; (6) Other circumstances where the convention of the Fund Unitholder Meeting is not required in accordance with laws and regulations or the Fund Contract. 214

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2. Resolutions of the Unitholders’ Meeting on the alteration to the Fund Contract shall be implemented after they took effect and shall be announced on the Designated Media within 2 days from the effective day of the resolutions of the Unitholders’ Meeting.

(II) Termination of the Fund Contract Under any of the following circumstances, the Fund Contract shall be terminated: 1. The Unitholders’ meeting votes for the Fund Contract to be terminated; 2. The responsibilities of the Fund Manager and the Fund Custodian terminated and no new fund manager and fund custodian to undertake within 6 months; 3. Other circumstances stipulated in the Fund Contract; 4. Other circumstances stipulated by Laws and Regulations or the CSRC.

(III) Liquidation of the Fund assets 1. Liquidation group of the Fund assets: The liquidation group shall be established within 30 Business Days from the date of the termination of the matters set out in the Fund Contract. The Fund Manager shall arrange the liquidation group of the Fund assets to conduct the liquidation of the Fund assets under the supervision of the CSRC. 2. Composition of the liquidation group of the Fund assets: The liquidation group of the Fund assets shall consist of the Fund Manager, the Fund Custodian, certified public accountants qualified for securities and futures business, lawyers and persons appointed by the CSRC. The liquidation group may hire necessary staff. 3. Responsibilities of the liquidation group of the Fund assets: The liquidation group of the Fund assets shall be responsible for safekeeping, clearing, valuation, realization and distribution of Fund assets. The liquidation group can take necessary civil activities in accordance with relevant laws. 4. Liquidation procedures for Fund assets: (1) After the Fund Contract is terminated, the liquidation group of the Fund assets shall take over the Fund assets; (2) To check and confirm the Fund assets and creditor’s rights; (3) To assess and liquidate the Fund assets; (4) To prepare the liquidation report; (5) To appoint accounting firms qualified for securities and futures business to conduct external auditing and appoint law firms to issue legal opinions on the liquidation report; (6) To submit the liquidation report to the CSRC for filing and release to public; (7) To distribute the remaining Fund assets. 5. The period for the liquidation of the Fund assets shall not be more than 6 months.

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All parties hereto hereby agree that where any dispute caused by or related to the Fund Contract among parties hereto and fails to be settled through friendly negotiations, it shall be submitted to China International Economic and Trade Arbitration Commission for arbitration in accordance with the effective arbitration rules of that time of the Commission. The arbitral award is Beijing. The arbitration verdict shall be final and binding upon all parties hereto. The arbitration fees shall be borne by the losing party. The Fund Contract is governed by the laws of China.

IX. Safekeeping of the Fund Contract and How to Obtain the Contract by Investors The Fund Contract may be printed in book form for the investors to inspect at the office and place of business of the Fund Manager, the Fund Custodian and the Sales Agencies of the Fund. The investors may also subscription the duplicated document or copy of the Fund Contract at the cost of production, but the contents of the original copy of the Fund Contract shall prevail.

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§ 19 Summary of Fund Custodian Agreement

I. Parties to the Custodian Agreement (I). Fund Manager Name: China Southern Asset Management Co., Ltd. Domicile: 32/F-42/F, Fund Building, No. 5999 YiTian Road, LianHua Lu, Futian District, Shenzhen Legal Representative: Zhang Haibo Approval Authority and Approval Document No.: China Securities Regulatory Commission Zheng Jian Ji Zi No. [1998] 4 Registered Capital: RMB361.72 million Organization Form: Joint Stock Company Scope of Business: fund offering; fund sales; asset management and other businesses as approved by the CSRC. Duration: on-going operation Tel: 0755-82763888 Fax: 0755-82763889 Contact: Chang Kechuan (II). Fund Custodian Name: Industrial and Commercial Bank of China Limited Domicile: No. 55 Fuxingmennei Avenue, Xicheng District, Beijing City Legal Representative: Chen Siqing Tel: （010）66105799 Fax: （010）66105798 Contact: Guo Ming Date of establishment: 1 January 1984 Organization: Joint Stock Limited Company Registered Capital: RMB 349,321,234,600 Approval Authority and Establishment No.: the State Council’s Decision Regarding Special Exercise of Functions of Central Bank by the People’s Bank of China (Guo Fa No. [1983]146) Duration: on-going operation Scope of Business: Deposits in RMB, loans and settlement at home or abroad; bills acceptance, discount, transfer of discount, accounting business at home, funds clearing as an agent, providing credit letter services; agency sales business; agency issue, agency underwriting, agency acceptance bond; collection and payment business as an agent, agency securities fund clearing business, insurance agency business, loan business as an agent for foreign banks and international financial institutions, securities investment fund, enterprise annuity trust business, enterprise annuity account management services, subscription business, consulting and investigation services, loan

217

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) commitment, enterprise and personal financial consultation services, organization of or participation in bank loan and deposits in foreign currency, loan in foreign currency, foreign exchange, export collection and import collection, foreign exchange bill acceptance and discount, borrowings in foreign currency, foreign exchange guarantee, issue, agency issue, subscription and sale of or acting as an agent for the subscription and sale of foreign exchange negotiable securities. Proprietary foreign exchange trading, foreign exchange financial derivatives business, banking card business, telephone banking, online banking, mobile phone banking business, foreign exchange settlement and sale business, other businesses as approved by the banking supervision and administration authority under the State Council.

II. Supervision and Verification by the Fund Custodian on the Fund Manager (I). The Fund Custodian’s exercise of supervision right on the Fund Manager’s investment activities 1. The Fund Custodian shall supervise the followings investment scope and the investment targets of the Fund in accordance with the requirements of relevant Laws and Regulations and as agreed by the Fund Contract. The Fund is a mixed fund and invests in listed companies with good asset backing and potential to unlock value (with stable earnings and profitability can be maintained or are about to turnaround) by way of bottom-up selecting method with moderate risk exposure and steady liquidity for the purpose of long-term and stable increase in asset value of the Fund.

The Fund shall invest in the following financial instruments: The scope of investment of the Fund is in financial instruments with good liquidity, including stocks (including depositary receipts (same as below) and bonds publicly issued and listed within China according to the relevant laws and regulations and other financial instruments permitted by the CSRC. In the event that Laws and Regulations or regulatory authorities permit the Fund to invest in other products categories, the Fund Manager may put them into its investment scope subject to performance of appropriate process. The Fund shall not invest in those instruments prohibited by relevant laws, regulations, department rules and the Fund Contract for investment.

2. The Fund Custodian shall supervise the followings proportions of investment and financing of the Fund in accordance with the requirements of relevant Laws and Regulations and as agreed by the Fund Contract.

(1) Under the requirements of the Laws and Regulations and as agreed by the Fund Contract, the proportion of assets allocation of the Fund for investment is as follows:

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The portfolio of the Fund consists of: stocks (including depositary receipts) (60%-95%), of which investment in value stock shall be no less than 80%; bonds, money market instruments and other financial instruments (0-35%); warrants (0-3%); asset-backed securities (0-20%); and cash reserved by the Fund and government bonds maturing within 1 year shall make up no less than 5% of the NAV of the Fund in total, among which cash shall exclude deposit reservation for balance, refundable deposits and receivable subscription accounts etc..

In the event that scale of the Fund, the market change or other factors has resulted in that the investment portfolios can’t comply with such requirements, the Fund Manager shall adjust its investment portfolios within a reasonable timeframe to meet such proportion limitations. If there are other requirements in the Laws and Regulations, it shall follow such requirements.

In the event that Laws and Regulations or regulatory authorities permit the Fund to invest in other products categories, the Fund Manager may put them into its investment scope subject to performance of appropriate process, and it may adjust properly and reasonably its investment scope in accordance with then effective Laws and Regulations.

The Fund Manager shall provide the Fund Custodian the China Southern Selected Value Equity Fund’s stocks pool in a form agreed by both parties on a quarterly basis, and is obliged to ensure that such stocks pool is to comply with such requirements of the Fund Contract. The Fund Custodian supervises the proportion of the Fund’s investment in such stocks of listing companies according to the stocks pool.

For any provisional adjustment by the Fund Manager on such stocks pool, it shall give a letter with the official seal in advance to inform the Fund Custodian, and the Fund Custodian shall reply to confirm the same within 2 Business Days after received the letter. Any adjustment to such stocks pool will be effective from the second date following the date of sending the confirmation letter by the Fund Custodian.

(2) Under the requirements of the Laws and Regulations and as agreed by the Fund Contract, the investment portfolios of the Fund shall abide by the following investment restrictions:

① the market capitalization of the stocks held by the Fund in a listed company shall not exceed 10% of Net Asset Value of the Fund; ② the number of securities held jointly by the Fund and other funds managed by the Fund Manager in a company shall not exceed 10% of such securities; ③ the balance of funds by the Fund to enter into the national inter-bank market for bonds resubscription shall not exceed 40% of its Net Asset Value; ④ the Fund shall not violate the investment scope and the agreed investment proportion under 219

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

the Fund Contract; ⑤ total amounts of warrants subscribed by the Fund in any trading day shall not exceed 0.5% of Net Asset Value of the Fund on the previous trading day, the market value of all warrants held by the Fund shall not exceed 3% of Net Asset Value of the Fund, and the proportion of the same warrant held by all funds under management of the Fund Manager shall not exceed 10% of such warrant. If there are other requirements in the Laws and Regulations, it shall follow such requirements; ⑥ Tradable stocks issued by a listed company as held by all open-ended funds managed by the Fund Manager (including open-ended funds and periodically open-ended funds that are at open period) shall not exceed 15% of the total tradable stocks of such listed company. Tradable stocks issued by a listed company as held by all investment portfolios managed by the Fund Manager shall not exceed 30% of the total tradable stocks in such listed company; ⑦ The total market value of active investment in Illiquid Assets shall not exceed 15% of the NAV of the Fund; where the Fund fails to comply with such ratio limit for any reason not attributable to the Fund Manager such as the fluctuation of the securities market, the suspension of trading in stocks of the listed company and the change in Fund size, the Fund Manager shall not actively increase the investments in Illiquid Assets; ⑧ When the Fund engages in a reverse repurchase transaction with privately offered asset management products and other entities prescribed by the CSRC as counterparty, the criteria for collaterals that are acceptable shall remain consistent with the investment scope as stipulated by the Fund Contract; ⑨ The investment ratio of investment in all types of asset-backed securities of the same original right owner by the Fund shall not exceed 10% of the NAV of the Fund; the market value of all asset-backed securities held by the Fund shall not exceed 20% of the NAV of the Fund; the ratio of the same (same credit rating) asset-backed securities held by the Fund shall not exceed 10% of the size of such asset-backed securities; investment in all types of asset-backed securities of the same original right owner by all funds managed by the Fund Manager shall not exceed 10% of the total size of such types of asset-backed securities; ⑩ the market capitalization of restricted securities issued by a company which are held by the Fund shall not exceed 2% of its Net Asset Value, and the market capitalization of all restricted securities held by a fund shall not exceed ten percent of Net Asset Value of the fund; ⑪ for participation of the Fund assets in application for subscription in stock issue, the amounts to be applied by the Fund shall not exceed total assets of the Fund, the number of stocks to be applied shall not exceed total volume of this stock issue to be proposed by a company;

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⑫ The Fund’s investment restriction in depositary receipts shall be based on stocks listed and traded on mainland stock exchanges; ⑬ other investment restrictions required by relevant Laws and Regulations and regulators. Except for the abovementioned items ⑦ and ⑧, in the event that such restrictions have been cancelled by the Funds Law and other relevant Laws and Regulations or regulators, the Fund is not subject to the above restrictions upon its performance of appropriate processes. (3) Duration for adjustment to investment proportion of the Fund as permitted by regulations In the event that the investment portfolios are not met the agreed proportions above due to the securities market fluctuation, combination between listing companies or change in the size of the Fund, which are beyond the control of the Fund Manager, they are not within the restriction scope, however, the Fund Manager shall adjust within 10 trading days to meet the restriction requirements in the investment proportions. If there are other requirements in the Laws and Regulations, it shall follow such requirements. The Fund Manager shall, in the foreseeable significant changes in the assets scale, give formally the Fund Custodian a letter stating the size of which the Fund may change and the response measures to facilitate implementation of the Fund Custodian’s supervision on trading. (4) The Fund can carry on margin trading in accordance with relevant requirements of the State. (5) other proportion restrictions required by relevant laws, regulations or department rules. The supervision and verification of the Fund Custodian on the Fund’s investment proportions shall be commenced from the effective date of the Fund Contract. 3. The Fund Custodian shall supervise the investment activities from which the Fund is prohibited in accordance with the requirements of relevant Laws and Regulations and as agreed by the Fund Contract: The Fund is prohibited from the following activities in accordance with the requirements of relevant Laws and Regulations and as agreed by the Fund Contract: (1) underwriting securities; (2) provision of loans or guarantees to other parties; (3) engaging in investments assuming unlimited liability; (4) trading of shares of other funds, except for otherwise provided by the laws or regulations or the CSRC; (5) making capital contribution on the Fund Manager or the Fund Custodian, or trading of stocks or bonds issued by the Fund Manager or the Fund Custodian; (6) trading of securities issued by those shareholders who have shareholding in the Fund Manager or the Fund Custodian, or those companies which have other significant interests in the Fund Manager or the Fund Custodian; (7) engaging in inside transactions, manipulating prices of securities and other improper securities trading activities;

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(8) other acts prohibited by the prevailing Laws and Regulations, the CSRC and the requirements under the Fund Contract. In the event that such restrictions have been cancelled by the Laws and Regulations or regulators, the Fund is not subject to the above requirement restrictions upon its performance of appropriate processes. 4. The Fund Custodian shall supervise the restrictions on the Fund’s connected investments in accordance with the requirements of such Laws and Regulations and as agreed by the Fund Contract. According to the requirements of Laws and Regulations about connected transactions from which a fund is prohibited, the Fund Manager and the Fund Custodian shall provide each other in advance the list of the shareholders who have shareholding in this organization or the companies which have significant interest relationships with this organization and its update, with the official seal and which is submitted in writing. Both parties shall ensure each other the truth, completeness and comprehensiveness of the list of connected transactions. The Fund Manager is obligated to keep a true, complete and full list of connected transaction, and is reliable to update timely such list. After alteration of the list, the Fund Manager shall timely send it to the Fund Custodian, and the Fund Custodian shall reply in a confirmation letter acknowledging the alteration of the list within 2 Business Days. In the event that the Fund Custodian has followed strictly the supervision process, the Fund Manager still has engaged illegally in connected transactions and thus resulted in losses of assets of the Fund, such liabilities shall be assumed by the Fund Manager. Once the Fund Custodian finds that the Fund Manager has conducted a connected transaction from which the Fund is prohibited under the Laws and Regulations with the connected parties shown under the list of connected transactions, the Fund Custodian should remind timely and assist the Fund Manager to take necessary measures to prevent the occurrence of such connected transaction. In the event that the Fund Custodian still can’t prevent the occurrence of such connected transaction after it took the necessary measures, the Fund Custodian is entitled to report to the CSRC. For those illegal connected transactions completed in a stock exchange, the Fund Custodian shall make settlement in accordance with the relevant Laws and Regulations and the rules of a stock exchange and at the same time report it to the CSRC. 5. The Fund Custodian shall supervise the Fund Manager’s participation in the inter-bank bond market in accordance with the requirements of such Laws and Regulations and as agreed by the Fund Contract. (1) The Fund Custodian shall supervise the capital and credit risks from its counterparties when the Fund Manager has participated in the inter-bank market transaction in accordance with the requirements of such Laws and Regulations and as agreed by the Fund Contract. The Fund Manager shall provide the Fund Custodian with a list of counterparties in the inter- bank market in accordance with the Laws and Regulations and the industry norm, and agree the applicable transaction settlement manners for the counterparties in such list under the prudent risk control principal. The Fund Custodian shall reply in a confirmation letter stating receipt of such list with 2 Business Days after receiving such list. The Fund Manager shall update regularly or an ad 222

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) hoc basis the list of counterparties engaging spot bond and resubscription transactions in the inter- bank market. It is required to apply in writing with the Fund Custodian for increasing or decreasing the counterparties in the inter-bank market in such list, and such list will be updated after the Fund Custodian replied in a confirmation letter of receiving it within 2 Business Days. After the Fund Manager received a written confirmation from the Fund Custodian, the confirmed adjusted list will start to be effective. For those outstanding transactions which are conducted with the removed counterparties before the new list is effective, they shall still be settled pursuant to the agreement. In the event that the Fund Custodian finds that the Fund Manager has conducted a transaction with the inter-bank market counterparties who are not in the list, it shall remind timely the Fund Manager to cancel the transaction. In the event that after such reminder, the Fund Manager still conducted the transaction and thus resulted in losses of assets of the Fund, the Fund Custodian shall not assume any liability, and in this case, the custodian may report to the CSRC.

(2) The control of the Fund Custodian on the trading manners of the Fund Manager’s participation in inter-bank market transactions When the Fund Manager has conducted the trading of spot bond and resubscription transactions in the inter-bank market, it is required to conduct transactions in the transaction settlement manner which is applicable to the counterparties as agreed in such counterparties list. In the event that the Fund Custodian found that the Fund Manager has not conducted transactions in a transaction manner as agreed in advance, which is conducive to control of credit risk, the Fund Custodian shall remind timely the Fund Manager and the counterparties to reconfirm the transaction manner. In case that after the reminder, they still have not made corrections and thus resulted in losses of assets of the Fund, the Fund Custodian will not assume any liability.

(3) The core counterparties with which the Fund Manager participates in the inter-bank market transaction include Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China and Bank of Communications. After consensus is reached upon negotiation by the Fund Manager and the Fund Custodian, the list of the core counterparties may be adjusted according to then market situation. The Fund Manager is obliged to control on the capital and credit risks of the counterparties. When conducted transactions with the counterparties other than the core counterparties, the losses incurred from the capital and credit risks of the counterparties is first borne by the Fund Manager, thereafter it is entitled to require the relevant responsible person to make compensation. In the event that the Fund Custodian has strictly complied with the above supervision process, for losses incurred from capital and credit risks of the counterparties, it shall not assume any responsibility. 6. Supervision of the Fund Custodian on the Fund Manager’s selection of deposit bank. The credit risks of the Fund’s investment in bank deposits mainly include the credit rating of deposit banks, payment ability of deposit banks and other risks concerning selection of deposit banks. The list of core deposit banks of the Fund includes Industrial and Commercial Bank of 223

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates)

China, Bank of China, China Construction Bank, Agricultural Bank of China and Bank of Communications, when the Fund’s investment in bank deposits other than its core deposit banks recorded losses arisen from credit risks of the deposit bank, such losses are first borne by the Fund Manager, thereafter it is entitled to require the relevant responsible person to make compensation. In the event that the Fund Custodian has strictly complied with the above supervision process, for losses incurred from credit risks of the deposit bank, it shall not assume any responsibility. After consensus negotiation by the Fund Manager and the Fund Custodian, the list of the core deposit banks may be adjusted according to then market situation.

7. Supervision of the Fund Custodian on the Fund’s investment in restricted securities.

(1) The investment of the Fund in restricted securities shall be complied with the Emergency Notice on Standardizing A Fund’s Act of Investment in Securities Not Publicly Issued, the Notice on Issues Regarding A Fund’s Investment in Stocks Not Publicly Issued or Other Restricted Securities and other relevant Laws and Regulations.

(2) The restricted securities, including not publicly issued stocks, offline placing parts of public offering of stocks, and other tradable securities with determining a certain of lock-up periods required on issue, as stipulated by the Administrative Measures for the Issuance of Securities by Listed Companies, other than those securities which are suspended for trading due to material information or other reasons, unlisted securities in issue, the pledged securities in resubscription transactions and other restricted securities.

(3) The Fund Manager shall, before the Fund invests firstly in restricted securities, provide the Fund Custodian the investment decision-making process and the risk control system approved by the board of directors of the Fund Manager. For the Fund’s investment in not publicly issued stocks, the Fund Manager shall further provide the liquidity risk handling plan approved by the board of directors of the Fund Manager. Such information shall include but not limited to control on the investment amounts and the investment proportions of the Fund in investment of the restricted securities. Such information shall be sent in writing by the Fund Manager to the Fund Custodian at least two Business Days before its first execution of investment order in order to ensure that the Fund Custodian has sufficient time to review the same. The Fund Custodian shall make confirmation in writing or other manners agreed by both parties at least two Business Days after received such information.

(4) Prior to the Fund’s investment in restricted securities, the Fund Manager shall provide the Fund Custodian related written information in accordance with the requirements of the Laws and Regulations, including but not limited to approval documents from the CSRC, number of securities 224

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) to be issued, the issue price, lock-up period for the entity to be issued securities, the number to be subscribed by the Fund, price, total costs, proportion of total costs to Net Asset Value of the Fund, time of payment etc. The Fund Manager shall ensure the truth and completeness of such information, and send such information in writing to the Fund Custodian before its execution of investment orders to ensure that the Fund Custodian has sufficient time to review the same.

(5) The Fund Custodian shall supervise whether the Fund Manager has complied with the Laws and Regulations, investment decision-making process, risk control system, liquidity risk handling plan, and review related written information provided by the Fund Manager. In the event that the Fund Custodian considers that such information may impose a risk on the Fund, it is entitled to require the Fund Manager to provide a supplemental written explanation on the measures to eliminate or prevent such risk prior to the investment in restricted securities, and reserve the right to check the risk assessment report issued by the risk management department of the Fund Manager on the Fund’s investment in restricted securities, and information available for inspection. Otherwise, the Fund Custodian has the right to refuse the execution of such orders. If the refusal of execution of such order has resulted in losses of assets of the Fund, the Fund Custodian will not assume any liability, and may to report to the CSRC. In the event that the Fund Manager and the Fund Custodian fail to reach an agreement, they shall report timely to the CSRC to request settlement. If the Fund Custodian has performed earnestly its supervisory duties, it is not required to assume any liability. If the Fund Custodian has not performed earnestly its supervisory duties, and thus resulting in risk on the Fund, the Fund Custodian shall assume joint liability.

(II)The Fund Custodian shall supervise and verify calculation of the Net Asset Value of the Fund, calculation of NAV per Unit, accounts receivable, fund expenses and income determination, allocation of fund income, related information disclosure, the fund performance data published on the fund promotion and introduction materials in accordance with the requirements of the Laws and Regulations and as agreed by the Fund Contract.

(III)When the Fund Custodian finds that the Fund Manager’s investment operation and other operations have violated the Funds Law, the Fund Contract, the Fund Custodian Agreement and other related requirements, it shall inform timely in writing the Fund Manager to correct within a specified timeframe, and the Fund Manager shall check timely on the next Business Day after it received such notice, and send in writing a reply letter to the Fund Custodian to make an explanation or put to the proof. In the specified timeframe, the Fund Custodian is entitled to review matters in the notice in any time, and supervise and urge the Fund Manager to make corrections. In the event that the Fund Manager fails to correct the violation matters in the notice by the Fund Custodian in a specified timeframe, the Fund Custodian shall report to the CSRC. The Fund Custodian is obliged to require 225

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) the Fund Manager to compensate the losses from which Investors suffered as a result of the violation of the Fund Contract on the part of the Fund Manager. In the event that the Fund Custodian finds that the investment orders of the Fund Manager have violated the relevant requirements of the Laws and Regulations or violated the agreed terms of the Fund Contract, it shall refuse such orders, immediately notify the Fund Manager, and report to the CSRC. In the event that the Fund Custodian finds that the investment orders of the Fund Manager, which have already been entered into force according the transaction process, have violated laws, administrative regulations and other relevant requirements, or violated the agreed terms of the Fund Contract, it shall immediately notify the Fund Manager and report to the CSRC. The Fund Manager shall actively cooperate with and assist the Fund Custodian to make supervision and verification; it must reply the Fund Custodian within a specified time and make corrections, explain or put to the proof on the Fund Custodian’s concerns. If the Fund Custodian is required to submit the fund supervision report to the CSRC, the Fund Manager shall active cooperate to provide related data, information and system etc. Once the Fund Custodian finds that the Fund Manager has significant violation acts, it shall immediately report to the CSRC, at the same time notify the Fund Manager to make corrections within a timeframe. The Fund Manager has no legitimate reason to refuse, obstruct the Fund Custodian to exercise its supervision right under the requirements of this agreement, or take the delay, fraud and other means to hinder the Fund Custodian to make effective supervision. If the circumstances are serious or it still has not corrected after warning by the Fund Custodian, the Fund Custodian shall report to the CSRC.

III. Verification of the Fund Manager on Businesses of the Fund Custodian The Fund Manager shall verify the performance of the Fund Custodian on its custody duties, the verification matters include but not limited to the Fund Custodian’s safe custody on assets of the Fund, opening the fund account and securities account for assets of the Fund, review of the Net Asset Value and NAV per Unit calculated by the Fund Manager, handling the clearing and settlement according to orders of the Fund Manager, related information disclosure and supervision of the Fund’s investment operation and other acts. When the Fund Manager finds that the Fund Custodian has misappropriated assets of the Fund, has not implemented the separate account management on assets of the Fund, has not executed or delayed without reasons to execute the fund allocation orders of the Fund Manager, disclose the investment information of the Fund and others which have violated the Funds Law, the Fund Contract, this Custodian Agreement and other related requirements, the Fund Manager shall timely notify in writing the Fund Custodian to make corrections within a specified timeframe, after the Fund Custodian received the notice, it shall timely verify and confirm, and give in writing a reply letter to the Fund Manager. In a specified timeframe, the Fund Manager is entitled to review matters 226

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) in the notice in any time, and supervise and urge the Fund Custodian to make corrections and provide assistance and cooperation. In the event that the Fund Custodian fails to correct the violation matters in the notice by the Fund Manager in a specified timeframe, the Fund Manager shall report to the CSRC. The Fund Manager is obliged to require the Fund Custodian to compensate the resulting losses suffered by the Fund. Once the Fund Manager finds that the Fund Custodian has significant violation acts, it shall immediately report to the CSRC and Banking Regulatory Authority, at the same time notify the Fund Custodian to make corrections within a specified timeframe. The Fund Custodian shall actively give cooperation on the Fund Manager’s verification acts, including but not limited to: submitting related information for the Fund Manager’s verification of completeness and truth of assets under custody, and reply the Fund Manager and make corrections in a specified timeframe. The Fund Custodian has no legitimate reason to refuse, obstruct the Fund Manager to exercise its supervision right under the requirements of this agreement, or take the delay, fraud and other means to hinder the Fund Manager to make effectively supervision. If the circumstances are serious or it still has not corrected after warning by the Fund Manager, the Fund Manager shall report to the CSRC.

IV. Maintenance of the Fund Assets

(I) Principals of maintenance of the Fund’s assets 1. The Fund’s assets shall be separated from own assets of the Fund Manager and the Fund Custodian. 2. The Fund Custodian shall maintain safe of the Fund’s assets. Without the proper orders of the Fund Manager, any of the Fund’ assets shall not be applied, handled and allocated at its own discretion. 3. The Fund Custodian shall open a capital account and securities account for the Fund’s assets. 4. The Fund Custodian shall set separately the accounts for different Fund assets under custody; implement strictly the separate account management on other businesses of the Fund Custodian and the custody business of other funds to ensure the completeness and independence of assets of the Fund. 5. For assets receivable generated in the process of subscription (application) of the Fund and the investment of the Fund, the Fund Manager shall be reliable to determine with relevant parties the transfer date. If the assets of the Fund have not been received by the Fund Custodian on the transfer date, the Fund Custodian shall notify timely the Fund Manager to take measures to carry out collection. For losses on the Fund therefrom, the Fund Manager shall be liable to claim losses of the Fund from relevant parties, the Fund Custodian will not assume any liability in this regard.

(II) Verification of Raised Funds 227

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During the Offering Period, as agreed by the sales and services agency agreement, the Sales Institutions are required to transfer the subscription money into the special account for subscription of funds of China Southern Asset Management Co., Ltd. opened by the Fund Manager in a commercial bank with the custody qualification. Such account is opened and managed by the Fund Manager. Up to the expiry of the Offering Period of the Fund, after the raised total of units, the raised total amounts of units and the number of Unitholders are to comply with the Funds Law, the Rules on Operation and other requirements, the Fund Manager shall engage a accounting firm with the securities business qualification to make the capital verification and issue the capital verification report, and the capital verification issued shall be subject to the signature by two or more certified public accountants of the PRC who have participated in the capital verification. After completion of the capital verification, the Fund Manager shall transfer all of funds raised which are assets of the Fund into a special assets custody account opened by the Fund Custodian for the Fund. The Fund Custodian shall issue a confirmation document on the date of receiving the funds. In the event that it fails to meet the conditions which the Fund Contract is come into force up to the expiry of the Offering Period of the Fund, the Fund Manager shall handle refund matters as required.

(III) Opening and Management of the Bank Account of the Fund The Fund Custodian shall open a special assets custody account at its business institution in the name of a fund custodian to maintain bank deposits of the Fund. The special assets custody account is a special account which the Fund Custodian, on behalf of the Fund under custody, makes the first level of settlement with China Central Depository & Clearing Co., Ltd. under the centralized custody model. The opening and management of such account shall be borne by the Fund Custodian. All of monetary income and expenses of the Fund shall be made through the Fund Custodian’s special assets custody account. The special assets custody account is opened and used only for meeting business needs of the Fund. Neither the Fund Custodian nor the Fund Manager shall open any other bank accounts in the name of the Fund, or handle any business that is not related to the Fund by using any bank account of the Fund. The special assets custody account shall be managed in accordance with the Measures for the Administration of Bank Accounts, the Provisions for Cash Management, the Administrative Rules of the People’s Bank of China on Interest Rate, the Notice on the Management of High Value Payment by Cash, the Measures for the Settlement of Payment as well as other regulations of banking supervision and administration institutions.

(IV) Opening and Management of the Fund’s Securities Account and Capital Accounts for Securitas Trading The Fund Custodian shall open the securities account with the Shanghai Branch/Shenzhen Branch of China Securities Depository and Clearing Company Limited in the joint name of the Fund 228

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Custodian and the Fund. The Fund Custodian shall open the capital account for securities trading with the Shanghai Branch/Shenzhen Branch of China Securities Depository and Clearing Company Limited in a name of the Fund Custodian for securities clearing. The Fund’s securities account is opened and used for meeting business needs of the Fund. Neither the Fund Custodian nor the Fund Manager shall lend or transfer any securities accounts of the Fund unless approved by the other party, or handle any business that is not related to the Fund through any account of the Fund.

(V) Opening and Management of the Bond Custody Accounts 1. After the Fund Contract is effective, the Fund Manager is responsible for application and obtainment of the trading qualification to enter into the national inter-bank lending market in the name of the Fund, and conduct transactions on behalf of the Fund; the Fund Custodian is responsible to open the proprietary account for inter-bank bond market bond custody with China Government Securities Depository Trust & Clearing Co., Ltd. in the name of the Fund, and the Fund Custodian is liable for bond back-line matching and capital clearing of the Fund.

2. The Fund Manager and the Fund Custodian shall be together responsible for the Fund to execute the master agreement for resubscription in the national inter-bank treasury bonds market, the original of which shall be kept by the Fund Custodian, and its copy shall be maintained by the Fund Manager.

(VI) Opening and Management of Other Accounts After the date of entering into of this Custodian Agreement, when the Fund is permitted to engage in investment business for other investment products as required by the Laws and Regulations and as agreed by the Fund Contract, if involved in opening and use of related account, the Fund Manager shall assist the Fund Custodian to open such account in accordance with the requirements of the Laws and Regulations and as agreed by the Fund Contract. Such account shall be used and managed under relevant rules.

(VII) Maintenance of the Related Physical Securities and Other Valuable Papers Invested by Assets of the Fund The related physical securities invested by assets of the Fund shall be maintained by the Fund Custodian at the safe deposit box of the custodian bank; of which the physical securities also can deposited into the agency safe deposit box of China Government Securities Depository Trust & Clearing Co., Ltd. And Shanghai Branch/Shenzhen Branch or the Notes Business Center of China Central Depository & Clearing Co., Ltd.. The subscription and transfer of physical securities shall be made in accordance with orders of the Fund Manager. The Fund Custodian shall assume any liability arisen from damages and losses of physical securities which are under effective control of 229

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) the Fund Custodian during the period of custody by the Fund Custodian. No custody liability shall be assumed by the Fund Custodian for securities which are under effective control of institutions other than the Fund Custodian.

(VIII)Maintenance of Material Contracts In Relation To Assets of the Fund The originals of the material contracts in relation to the Fund signed by the Fund Manager on behalf of the Fund are maintained by the Fund Custodian and the Fund Manager respectively. Unless otherwise required in this agreement, when the Fund Manager has signed the material contracts in relation to the Fund on behalf of the Fund, it shall be ensured that the Fund as a party holds two or more originals in order to that each of the Fund Manager and the Fund Custodian holds one original of document. Within 5 Business Days after signing of the contract, the Fund Manager shall send the original of the contract to the address of the Fund Custodian by personal delivery or registered mail or other safe manners. The original of the contract shall be maintained by each of the Fund Manager and the Fund Custodian at their respective custody departments for more than 15 years.

V. Calculation and Verification of the NAV of the Fund (I) Calculation of the NAV of the Fund

1. Time and Procedures for Calculation and Review of the NAV of the Fund The NAV of the Fund means the total asset value of the Fund less the liabilities of the Fund. The NAV per unit means the value after the NAV of the Fund assets is divided by the total number of the Units on the calculation day. Calculation of the NAV per unit shall be reserved up to the third decimal place with the fourth decimal place being rounded.

The Fund Manager shall estimate the value of the Fund assets on each Business day. The valuation principle shall not challenge the requirements of the Fund Contract, Measures for Accounting of Securities Investment Fund, other Laws and Regulations. The Fund Manager shall calculate and the Fund Custodian shall review the NAV of Fund assets and Units which is involved in the Fund’s information disclosure. The Fund Manager shall calculate the NAV of Units for the current day after the end of each Business Day, and send in the form of encrypted fax to the Fund Custodian. Having reviewed, signed and applied the official seal to the calculation result of NAV, the Fund Custodian shall inform the Fund Manager of the review result in the form of encrypted fax and the Fund Manager shall publish its result of the NAV.

The Fund Manager shall bear the obligations relating to calculation of NAV of Fund assets and accounting of fund. Accordingly, in relation to the accounting treatment of the Fund, the party in responsible for accounting treatment of the Fund is the Fund Manager. If the parties concerned fail to reach an agreement after adequate discussion on an equal basis, the Fund Manager will publish its result of the NAV of the Fund. 230

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(II) Valuation Methods for Fund assets 1. Valuation Objects Such assets and liabilities as shares, warrants and the principal and interest of the bank deposits held by the Fund. 2. Valuation Methods

Valuation Methods for the Fund is: (1) Valuation of Negotiable Securities Listed on the Stock Exchanges 1) Negotiable securities listed on the stock exchanges (including shares and warrants) shall be valued at the market price (closing price) quoted on the stock exchanges on the valuation day or at the market price (closing price) on the last trading day if there is no trading on the valuation day and there is no material change in the economic environment after the last trading day. If there is material change in the economic environment after the last trading day, the latest trading market price shall be adjusted to determine the fair price by reference to the prevailing market price and significant change factor of similar investment products; 2) The bonds which are listed on the stock exchanges and traded at net prices shall be valued at the closing price on the valuation day or at the closing price on the last trading day if there is no trading on the valuation day and there is no material change in the economic environment after the last trading day. If there is material change in the economic environment after the last trading day, the latest trading market price shall be adjusted to determine the fair price by reference to the prevailing market price and significant change factor of similar investment products; 3) The bonds which are listed on the stock exchanges and not traded at net price shall be valued at the net price after the closing price of bonds less the accrued interest from the closing prices of the bonds on the valuation day or at the net price after the closing price of bonds less the accrued interest from the closing price of the bond on the last trading day if there is no trading on the valuation day and there is no material change in the economic environment after the last trading day. If there is material change in the economic environment after the last trading day, the latest trading market price will be adjusted to determine the fair price by reference to the prevailing market price and significant change factor of similar investment products; 4) For negotiable securities listed on the stock exchanges where no active market exists, the valuation technology shall be adopted to determine their fair value. For asset-backed securities listed on the stock exchanges, the valuation technology shall be adopted to determine their fair value or be valued at cost in case that the valuation technology can’t measure the fair value reliably.

(2) Negotiable securities not yet listed shall be distinguished as follows: 1) For the shares that are offered through bonus issue, additional shares by conversion, placing and public new issue, they shall be valued at the market price (closing price) of the same share listed on the exchanges on the valuation day; or be valued at the market price (closing price) on the last day if there is no dealing on such date: 231

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2) For the unlisted shares, bonds and warrants that are initially offered, the valuation technology shall be adopted to determine their fair value or be valued at cost in case that the valuation technology cannot measure the fair value reliably. 3) The shares that are initially offered with definite lock-up period shall be valued at the market price (closing price) of the same share listed on the exchanges after the listing of such shares. For the shares that are privately offered with definite lock-up period, they are valued at fair values in accordance with the relevant provisions of the supervisory authorities or industrial associations.

(3) For the entitlement to placing rights arising from holding of shares, if the closing price is higher than placing price from the ex-rights day to confirmation day, they are valued at the difference between the closing price and placing price. If the closing price equals to or is less than placing price, the valuation is nil.

(4) The bonds that are traded on the inter-bank bond market, asset-backed securities and other fixed-income products shall be valued at a fair value determined using valuation methods.

(5) Where a bond is traded on two or more markets at the same time, it shall be valued respectively based on the market.

(6) If there is definite evidence showing that the valuation performed according to the said measures may not objectively reflect the fair value, the Fund Manager may, pursuant to the specific circumstances and after consultation with the Fund Custodian, determine the value at a price which better reflects the fair value. (7) The Fund’s valuation and accounting treatment of the depositary receipts shall be based on stocks listed and traded on mainland stock exchanges.

(8) If any laws or regulations and supervisory authorities enforce otherwise, the valuation shall be conducted accordingly. If there are new matters, the valuation shall be conducted according to the latest rules of the PRC. In according with Funds Law, the Fund Manager shall calculate and announce the NAV of Fund assets; the Fund Custodian shall review and examine the NAV of Fund assets calculated by the Fund Manager. Accordingly, if the parties concerned fail to reach an agreement relating to the accounting treating of the Fund after adequate discussion on arm’s length, the Fund Manager will publish its result of the NAV of the Fund.

(III) Treatment of Pricing Errors In relation to error treatment, the Parties to Fund Contract shall treat according to the following provisions: 1. Types of Errors 232

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If an error occurs during the operation of the Fund arising from the mistake of the Fund Manager or Fund Custodian, or registration institutions, or Sales Agencies, or the investors, such that other parties suffer a loss, the party who is responsible for such error shall be liable for indemnity against the party who suffers a loss due to such mistake (“Aggrieved Party”) according to the following “Principles on Treatment of Errors”. Major types of the said errors include but not limited to: data reporting errors, data transmission errors, data calculation errors, system errors, direction errors, etc. In relation of the errors arising from technological reasons, if the existing technical level of the same industry can’t be foreseen, avoided, and resisted, they belong to the force majeure and shall be implemented in according with the following requirements. If the transaction information of the investors losses or is handled mistakenly or other errors occur due to the force majeure, the party who is responsible for the error due to the force majeure shall not be liable for other parties. However, the party who obtains illegal benefits shall be liable for returning such benefits. 2. Principles on Treatment of Errors

(1) If an error occurs but has not caused loss to the parties, the party who is responsible for the error shall coordinate parties and make corrections timely, and bear the cost arising from such correction accordingly. If the party who is responsible for the error fails to correct the occurred error timely and causes loss to the parties, such loss shall be borne by the party who is responsible for the error. If the party who is responsible for the error has coordinated actively and the party who has the assistant obligations has enough time to correct but doesn’t correct, it shall bear the indemnity obligations accordingly. The party who is responsible for the error shall confirm to the parties concerned in relation to the correction and ensure that the error has been corrected.

(2) The party who is responsible for the error shall be liable for the possible direct losses of the parties concerned, but not indirect loss, and will only be liable for the direct party who is responsible for the error, but not third parties.

(3) The party who obtains illegal benefits due to the error shall be liable for returning such benefits timely. However, the party who is responsible for the error shall be liable for such error. If the party who obtains illegal benefits doesn’t return or partially return illegal benefits, causing loss of interests to other parties (“Aggrieved Party”), the party who is responsible for the error shall compensates the loss of the Aggrieved Party and have the rights to claim for delivering illegal benefits against the party who obtains illegal benefits within the scope of its paid compensation amount. If the party who obtains illegal benefits has returned such part of illegal benefits to the Aggrieved Party, the Aggrieved Party shall pay the difference between the sum of its obtained compensation amount plus the return of the obtained illegal benefits, exceeding the actual loss to the party who is responsible for the error. 233

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(4) The error adjustment shall adopt the methods of recovering to the correct situation as far as possible assuming no error occurs.

(5) When the party who is responsible for the error refuses to compensate, if the error of the Fund Manager causes loss to Fund assets, the Fund Custodian shall claim against the Fund Manager for the benefits of the Fund. If the error of the Fund Custodian causes loss to Fund assets, the Fund Manager shall claim against the Fund Custodian for the benefits of the Fund. Except for the third party other than the Fund Manager and Custodian cause loss to Fund assets and refuses to compensate, the Fund Manager shall claim against the party who is responsible for the error.

(6) If the party who is responsible for the error fails to compensate the Aggrieved Party in accordance with the provisions, and in accordance with laws, administrative regulations, Fund Contract or other rules, the Fund Manager is liable for compensation against the Aggrieved Party by itself or according to the court judgement and arbitration award, the Fund Manager has the rights to recourse against the party who is responsible for the error and has the rights to claim for its compensation or indemnify for the expenditures incurred or loss suffered therefrom.

(7) Treatment of the error according to other principles stipulated by laws or regulations.

3. Procedures for Treatment of Error If an error is found, the parties concerned shall treat it timely by the following procedures:

(1) to find out the reason for the error, specify all parties concerned, and determine the party who is responsible for the error according to such reason;

(2) to evaluate the loss arising from the error in according with the Principles on Treatment of Errors or the negotiation methods of parties;

(3) to make corrections or indemnify for loss by the party who is responsible for the error in according with the Principles on Treatment of Errors or the negotiation methods of parties; (4) to make corrections by the Fund Registration Institution and confirm to the parties concerned in relation to such corrections in accordance with methods on treatment of errors when change to transaction data of the Fund Registration Institution is necessary;

(5) If any calculation mistake amounts to 0.25% of the NAV per unit or more in relation to the fund of the Fund Manager and Fund Custodian, the Fund Manager shall report to the CSRC for filing. If any calculation mistake amounts to 0.5% of the NAV per unit or more in relation to the fund of the Fund Manager and Fund Custodian, the Fund Manager shall make the same available 234

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) and report to the CSRC for filing.

(IV) Establishment of Fund’s Account Books Once the Fund Contract is effective, the Fund Manager and the Fund Custodian shall separately set, login and keep the Fund’s whole set of account books according to such bookkeeping method and accounting treatment principle as agreed upon by them. They shall check and supervise their respective account books to ensure the safety of the Fund assets. Where both parties cannot reach an agreement on the accounting treatments, the accounting treatment of the Fund Manager shall prevail.

In case any inconsistency happens between their accounts, they shall investigate causes and make corrections in a timely manner so as to guarantee the complete agreement in the account books for parallel access. If any inconsistency happens on that day and calculation and announcement of NAV of the Fund is affected due to temporary failure to find out the reason for the wrong accounts, the account book of the Fund Manager shall prevail.

(V) Compilation and Double-checking of the Fund's Periodic Reports The Fund’s financial statements shall be separately prepared on a monthly basis by the Fund Manager and the Fund Custodian. The preparation of monthly statements shall be completed within five days following the end of each month. Within 45 days from the end of every six months after the Fund Contract becoming effective, the Fund Manager will update the Prospectus one and publish it on the website, and publish the summary of the updated Prospectus on the Designated Media. The quarterly report shall be prepared and published by the Fund Manager within 15 Business Days following the end of each quarter, the semi-annual report shall be prepared and published by the Fund Manager within 60 days following the end of half an accounting year, while the annual report shall be prepared and published by the Fund Manager within 90 days following the end of the accounting year. The Fund Manager shall, on the day when the monthly statements are completed, apply the official seal to the statements and send to the Fund Custodian for review the said statements in the form of encrypted fax. The Fund Custodian shall review the statement within 2 Business Days and notify the Fund Manager of the review results in writing. The Fund Manager shall, on the day when the semi-annual report is completed, send the related report to the Fund Custodian for review. The Fund Custodian shall review the report within 3 Business Days and notify the Fund Manager of the review results in writing. The Fund Manager shall, on the day when the semi-annual report is completed, send the related report to the Fund Custodian for review. The Fund Custodian shall review the report within 30 Business Days and notify the Fund Manager of the review results in writing. The Fund Manager shall, on the day when the annual report is completed, send the related report to the Fund Custodian for review. The Fund Custodian shall review the report within 30 Business Days and notify the Fund Manager of the review results in writing. 235

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When the Fund Custodian discovers any inconsistency in the statements from two parties concerned during the review, the Fund Manager and the Fund Custodian shall work together to figure out the causes and make adjustments according to their agreed methods of accounting treatment. Once no errors are found in the review, the Fund Custodian shall apply the official seal to the report furnished by the Fund Manager or issue the opinion of review affixed with official seal of custody business department, and either of them shall keep one copy. Where both parties fail to reach an agreement on the related statements on the day which announcement shall be released, the Fund Manager has the right to release an announcement based on the statement it prepares and the Fund Custodian has the right to report such situation to the CSRC for record. After review of the financial accounting report, semi-annual report or annual report, the Fund Custodian shall affix the official seals for confirmation or issue the respective review confirmation as reminder when the competent authorities review the related document. Periodic reports of the Fund shall be submitted to the CSRC and principle place of office of the Fund Manager – CSRC regional office for filing on the 2nd Business Day after public disclosure. VI. Safekeeping of the Register of the Unitholders The Register of the Unitholders which shall be well kept by the Fund Manager and Fund Custodian, include the Fund Contract Effective Date, the Fund Contract Termination Date, date of registration of the Unitholders' Meetings, the Register of the Unitholders as at 30 June and 31 December every year. The Register of the Unitholders shall include the name of the Unitholders and their holding of units. The Register of the Unitholders shall be prepared and kept by the Fund Registration Institution according to the order of the Fund Manager, and the Register of the Unitholders shall be kept by the Fund Manager and Fund Custodian respectively according to the current rules through adopting electronic or paper ways. The duration is 15 years. The Fund Manager shall submit the Register of the Unitholders at the following dates to the Fund Custodian in a timely manner: the Fund Contract Effective Date, the Fund Contract Termination Date, date of registration of the Unitholders' Meetings, the Register of the Unitholders as at 30 June and 31 December every year. The Register of the Unitholders shall include the name of the Unitholders and their holding of units. Among which, the Register of the Unitholders as at 31 December shall be submitted within ten business days before the next month, the Register of the Unitholders, involving the dates of material events of the Fund such as the Fund Contract Effective Date and the Fund Contract Termination Date, shall be submitted within ten business days after happening. The Fund Manager shall keep the Register of the Unitholders properly in electronic form and record it in discs periodically for backup with duration of 15 years. The Fund Manager shall not use the Register of the Unitholders maintained by it for other purposes other than the custody business of the Fund, and shall observe confidential obligations. If the Fund Manager or Fund Custodian fails to keep the Register of the Unitholders properly due to their own reasons, they shall bear the responsibilities accordingly in accordance with the 236

China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) relevant laws or regulations.

VII. Settlement of Disputes As agreed by the parties concerned, all disputes arising from or in connection with this Agreement (except for those which can be settled through the friendly consultation) shall be submitted to the China International Economic and Trade Arbitration Commission (CIETAC) Beijing Commission for arbitration in accordance with the then valid arbitration rules. The arbitral award shall be final and binding upon the parties concerned. The arbitration expenses shall be borne by the losing party. During the settlement of disputes, the parties concerned shall perform their respective responsibility as the Fund Manager and the Fund Custodian, fulfill their respective duty as set forth in the Fund Contract and this Custodian Agreement faithfully, diligently and responsibly, and maintains the lawful rights and benefits of the Unitholders. This Agreement shall be governed by the laws of the PRC.

VIII. Modification and Termination of the Custodian Agreement 1. Procedures for Modification of the Custodian Agreement Both parties to this Agreement may modify the Agreement through consultation. The new Custodian Agreement shall be consistent with the provisions of the Fund Contract. The modification of the Fund Custodian Agreement shall take effect after being submitted to the CSRC for approval. 2. Termination of the Fund Custodian Agreement This Custodian Agreement shall be terminated if any of the following circumstances occurs: (1) the Fund Contract is terminated; (2) the Fund Custodian is under dissolution, being legally revoked or declared bankruptcy, or other fund custodians shall take over the assets of the Fund; (3) the Fund manager is under dissolution, being legally revoked or declared bankruptcy, or other fund managers shall take over the management rights of the Fund; (4) There are other matters that cause the termination thereof according to laws or regulations or the Fund Contract.

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§ 20 Services to Unitholders

If the Prospectus contains content which you/your organization cannot understand, please promptly contact the fund manager through the following ways. Before confirming investments, you/your organization should fully understand the Prospectus and agree with all the contents. Services to unitholders are mainly provided by the fund manager, issuer and sales company. Major services are as follows The Fund Manager has the rights to increase or change the relevant services according to the needs of Unitholders, and the changes in the market provided that they comply with the laws and regulations. If the following services cannot be available due to such factors like system, third parties or the force majeure, the Fund Manager shall not assume any responsibilities. If the Fund contains H shares sold in the Hong Kong Special Administrative Region, under normal circumstances such unitholder shall enjoy services limited to telephone services, handling of customer complaints and suggestions and website information. I. 1. Electronic Statement The Fund Manager shall provide electronic email statement, as well as WeChat statement service, the Fund Manager will send periodically to individual investors (please refer to the terms of the Fund Contract and the Prospectus whether an individual investors can subscribe the Fund) who subscribed to the service by way of electronic email or WeChat, except where email address is unknown and WeChat account is not yet bound or has cancelled subscription service. 2. Other methods for checking transaction information The Registration Institution and Fund Manager do not provide statement and electronic statements service of on-exchange transaction (whether the Fund support on-exchange transaction shall be determined according to the relevant terms in the fund contract and the Prospectus). Investors may print them at the transaction points or make enquiries through channels such as automatic, telephone or online services provided at the transaction points. II. Online Services (I) Investors may access the following services through the website of the Fund Manager （ www.nffund.com ） , WeChat official account (search for “China Southern Fund” or “NF4008898899”) or client: 1. Account Enquiry Service Institutional investors may visit the website of the Fund Manager, individual investors may visit the website of the Fund Manager, the WeChat official account and client of the Fund Manager to access their fund transaction enquiry, fund accounts enquiry and fund information enquiry service. 2. Online Transaction Service Institutional investors may, through the website of the Fund Manager, and individual investors may, through the website of the Fund Manager, the WeChat official account or the client, handle such business including opening of the accounts, subscription/ application for subscription,

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China Southern Selected Value Mixed Securities Investment Fund Prospectus (Updates) redemption and information enquiry. For specific business rules applicable to electronic direct sales of the Fund Manager, please refer to the relevant announcements and business rules on the website of the Fund Manager. 3. Information enquiry service Innvestors may use the website of the Fund Manager to obtain all kinds of information required to be disclosed by law by the Fund and Fund Manager, including the Fund legal documents, announcements issued by the Fund, its periodic reports and the latest developments of Fund Manager. 4. Artificial Intelligence Customer Service (7×24 hours) Investors may obtain self-service consulting services through the website, the WeChat official account or client of the Fund Manager, so as to search and answer relevant questions by themselves such as business rules and net worth information. 5. Online Manual Service Investors may access the website, the WeChat official account and the client of the Fund Manager for professional services including investment consultation, business consultation, information enquiry, service complaints and suggestions and information customization through “Online Customer Service”.

III. Customer Service Center Call Service Investors are entitled to access the following services through calling the customer service hotline of the Fund Manager 400-889-8899 (toll free for domestic long-distance calls): 1. Automatic voice service: (7×24 hours) provide such automatic enquiry service as Fund NAV information, and account information. 2. Manual service: provide manual service seven days a week with not less than 8 hours a day (except for public holidays). Investors may access professional services including investment consultant, business consultancy, information enquiry, service complaint, message subscription, information modification through such hotline.

IV. Information Service The fund manager provides relevant information to investors through telephone, SMS, email, WeChat, etc., including but not limited to the following types of information: 1. product-related notices and information. 2. Investor education information and related activities. 3. Other information that meets the requirements of relevant laws and regulations. 4. If investors need to cancel the relevant information services, they can unsubscribe according to the information guidelines, or through the fund manager's customer service center hotline 400-889-8899, or other types of customer service.

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Investors may complain or make suggestions through Customer Service Center hotline, online customer service, letter, email, SMS, Sales Outlets and other channels in respect of the services of the Fund Manager and Sales Outlets provided by the counter of each outlet of Sales Institutions and other channels.

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§ 21 Other Disclosures

Content of Announcement Date of Announcement Announcement on Changchun Rural Commercial Bank Co., Ltd ceasing 2020-06-05 to be the sales agency Announcemnt on adding Ping An Bank as sales agency and developing 2020-05-22 new business Announcement on the allotment results of non-public placement of A 2020-05-14 shares of Bank of Ningbo (002142) for funds managed by the Fund Manager Announcemnt on adding CITIC Securities Co., Ltd as sales agency and 2020-05-05 developing new business Announcement on Q1 2020 report of the China Southern Selected Value 2020-04-21 Mixed Securties Investment Fund Annual Report 2019 of the China Southern Selected Value Mixed 2020-3-31 Securities Investment Fund Announcement of adjusting the valuation method of the suspended 2020-03-17 stock held by the Funds of the Company Announcement of adjusting the valuation method of the suspended 2020-03-16 stock held by the Funds of the Company Announcemnt on adding Hwabao Securities Company Limited as sales 2020-03-11 agency and developing new business Announcemnt on adding WeBank Co., Ltd. as sales agency 2020-03-10

Announcemnt on adding East Money Securities Co., Ltd. as sales 2020-03-09 agency and developing new business Announcement on Q4 2019 report of the China Southern Selected 2020-01-20 Value Mixed Securties Investment Fund Announcement on Q4 2019 report of funds managed by the Fund 2020-01-20 Manager Announcemnet on resumption of massive subscription, switching-in 2020-01-17 and periodic subscription business of the Fund Announcement on dividend distribution of the Fund 2020-01-14

Announcement on suspension of massive subscription, switching-in 2020-01-14 and periodic subscription business of the Fund Announcemnt on adding China Life Insurance Co., Ltd. as sales agency 2020-01-10 and developing new businessAnnouncement Announcement of China Southern Fund on participation of its Funds in 2019-12-31 Bank of Communications’s mobile phone fund application fee rate discount program and regular investment handling fees for fund application Announcement of China Southern Fund on participation of its Funds in 2019-12-31 the Industrial and Commercial Bank of China’s fund handling fees discount program Announcement of China Southern Fund on participation of its Funds in 2019-12-31 Postal Savings Bank’s mobile personal internet banking and mobile phone fund application fee rate discount program

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Announcement of China Southern Fund on participation of its funds in 2019-12-27 direct selling fee rate discount program on online platform

Note: Please refer to the relevant announcements issued by the Fund Manager for other disclosures.

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§ 22 Maintenance and Inspection of the Prospectus

The Prospectus is kept in the offices of the Fund Manager, the Fund Custodian and the Sales Agencies and Registration Institutions, and copies may be inspected free of charge by Investors during business hours. After paying a handling charge, Investors may obtain a duplicate or a copy of the above documents, but the original copy shall prevail.

The Fund Manager and the Fund Custodian shall ensure the complete consistency between the documents and the announcements.

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§ 23 Documents Available for Inspection

The following documents available for inspection are kept in the offices of the Fund Manager and the Fund Custodian. Investors may inspect them free of charge during business hours.

I. The Document regarding approval of the establishment of the Fund by CSRC II. Fund Contract of China Southern Selected Value Mixed Securities Investment Fund III. Custodian Agreement of China Southern Selected Value Mixed Securities Investment Fund IV Business Rules Applicable to Open-ended Fund of China Southern Asset Management Co., Ltd. V. Legal Opinions VI. Qualification Approval of the Fund Manager’s professional qualifications and business license VII. Qualification Approval of the Fund Custodian’s professional qualifications and business license

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