China Admiralty fortune securities Co., Ltd. is a wholly owned subsidiary of China Investment Securities Co., Ltd. (hereinafter referred to as "CIC Securities"). It is a national comprehensive securities company approved by China Securities Regulatory Commission. China Investment Co., Ltd. is a wholly state-owned company established in accordance with the Company Law of People's Republic of China (PRC), which is engaged in the investment management of foreign exchange funds. CIC operates independently, makes independent decisions, and makes investments on a global scale for economic and financial purposes.