Western Securities Co., Ltd., which was founded and approved by the China Securities Regulatory Commission in January 2001, is a leading securities institution in northwest China with registered capital of 1billion RMB. We have 56 regional branches in Shaanxi, Beijing, Shanghai, Shenzhen, Shandong and Jiangsu to service our clients. Business branches and sub-branches in Shanghai working mainly on proprietary trading, client asset management and securities research and development. We offer a combination of securities brokerage, investment banking, asset management, securities research and securities financing and margin services to our clients. In addition, our subsidiary Western Futures Ltd., collaborating with our main business operations, provides independent services in the derivatives area. Our Sino-US joint venture with the Bank of New York Mellon (BNY Mellon), New York Mellon Western Asset Management Co., Ltd., will provide superior public and private fund management services to our clients.