Ping An Securities

Profile of Ping An Securities Company Ltd.

Ping An Securities Company Ltd. (hereinafter referred to as “Ping An Securities” or “the Company”), whose predecessor was a securities department set up in Shenzhen in Aug. 1991 under Ping An Insurance (Group) Company of China, Ltd. (hereinafter referred to as “Ping An” or “Ping An Group”), was formally established in Oct. 1995 with approval from the People’s Bank of China (“PBOC”) with the registration in State Administration For Industry & Commerce and the headquarters in Shenzhen. Currently, it has capital of RMB 1.8 billion.

On Apr. 11, 2006, Ping An Securities was approved by the Securities Association of China to engage in “innovative” businesses, becoming one of the few “innovative” securities firms in China. In Aug. 2007, the Company was rated as an “AA” brokerage house by China Securities Regulatory Commission (“CSRC”). In Dec. 2007, it was awarded as one of “Top 10 Most Reliable Chinese Securities Companies 2007” in the appraisal of “World Finance Lab Awards 2007” jointly held by World Finance Lab, World Executive Group, Chief Executive, World Entrepreneur and www.wswire.com.

Over the past 10-plus years, supported by Ping An’s well-known brand and strong reputation, Ping An Securities has developed from a regional securities house into an innovative securities company nationwide. Sticking to “honestly treating people; faithfully developing itself” as the base point for its long-term operation, the Company has been engaged in providing all-around, professional and individual services for customers to achieve its service tenet.

As one of the first batch of 9 brokerage houses holding bookrunner qualifications and one of the first batch of registered sponsors for SME board approved by CSRC, the Company’s Investment Banking Team ascended to the front of domestic peers with its achievements. In 2007, Ping An Securities was ranked the 2nd by number of IPOs sponsored, with 11 IPOs sponsored and 8 refinancing projects completed. The Company was honored as a “Best Innovative Investment Banking Team 2006” in the appraisal of “Best Investment Banking 2006” organized by Shanghai Securities News. In Jan. 2008, it got the laurel of “Best Sponsor for SME Board 2007” again from Shenzhen Stock Exchange.

The Company’s Research Team has been always in the front rank of industry peers with its solid research skills, prudent working styles and good performance, and enjoys a high reputation in domestic securities market by providing objective, precise, accurate and perspective research products for its clients. In June 2007, StarMine, a globally famous provider of objective ratings of securities analysts, announced that Ping An Securities was ranked the 8th in Top 10 Most Award-Winning Brokers of 2006 for Asia (including China, Hong Kong, Korea, Malaysia, Singapore and Taiwan) with 4 awards and was ranked the 4th in Top 10 Most Award-Winning Brokers of 2006 for Hong Kong and China with 7 awards. In Nov. 2007, Ping An Securities was awarded as a Most Improved Research Institution with four industry award winners in the 5th New Fortune Awards 2007 for mainland China held by New Fortune.

In terms of asset management, the Company always commits itself to providing clients with first-class value-added financials services and prominent wealth-management performance through adhering to professional, honest, dedicated and preeminent services ideas. It was an industry leader by business scale and investment performance, with nearly 10 wealth products under management in 2007.

In terms of fixed-income business, the Company has mounted to one of mainstream brokers with heavy bonds trading, all-around underwriting qualification and fine achievement. In 2007, it was ranked the 1st by forward trading volume of bonds and was awarded as an “Excellent Trading Member in Inter-bank Borrowing Center 2007” from PBOC Foreign Exchange Trading Center. It also got an “Award of Progress in Underwriting of Book-entry T-bonds 2007” from Ministry of Finance, PBOC and CSRC and was approved to be an A-class member in underwriting syndicate of book-entry T-bonds for 2008. In 2007, Ping An Securities managed to underwrite four corporate bonds, including two large-scaled central corporate bonds, namely 07 Aluminum Corporation of China Limited and 07 Ministry of Railways, which is the biggest such issue in China so far.

In terms of brokerage business, the Company was steadily in the front rank by branch average volume in 2007 due to increasingly improved scale merit and noticeably strengthened comprehensive competitiveness resulting from daily supervision reinforcement, risk control mechanism improvement, compliance operation advancement and market opportunity grasp. Four advantages including product advantage, innovation advantage, services advantage and sales advantage have been formed in the brokerage business through business structure optimization, outlet function intensification and services quality enhancement. Its sales team, with approximately 2,000 specialist brokers, is set up earliest, with the most improved training system, the most professional services and the strongest vitality in the industry.

In terms of warrant business, in 2007, the Company got achievements in primary dealer business, new product R&D and investor education and obtained high earnings in warrant creation business through accurately grasping the warrant market and strict risk control. Its self-designed RMatrix risk management system was formally launched and was granted the third prize of “Shenzhen Financial Innovation Award 2007”. Zero breakthrough was achieved in the business of primary dealer of warrants; self-designed primary-dealer quotation system was steadily run, with its automatization absolutely leading at home.

With an internationalized professional management team and a first-class investment management team gathering excellent financing specialists, securities analysts, sponsors and investment consultants, Ping An Securities enjoys a high reputation in the industry on its leading investment experience and research capability. As an important member of Ping An Group, the Company lets its clients access to information and services of a wide variety of financials products including insurance, banking, trust, futures and annuities and taste the convenience of one-stop wealth management through the group website www.pingan.com ,the services line 95511 and outlets, except for complete and professional securities services.

Ping An Securities has grown to become an important member of Ping An Group in its own right. It seeks to foster its competitive strength and grow its businesses by earning the trust and faith of its customers, capitalizing on its modern management systems and skills, and strengthening its corporate culture.