Investment Highlights

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Ctrip.com International Ltd (Listed on Nasdaq: CTRP)

Ctrip.com International Ltd (“Ctrip”) was founded in 1999 in Shanghai, China.  The company is the leading provider of travel services including accommodation reservation, transportation ticketing, packaged tours and corporate travel management.  Ctrip offers its services through an advanced transaction and service platform consisting of mobile apps, websites and a centralized toll-free 24-hour customer service center.  Ctrip has branches located in major cities in mainland China, Hong Kong, Taiwan, Singapore, Korea and Japan.  Ctrip was successfully listed on Nasdaq in December 8, 2003 under the symbol “CTRP”.

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Autohome Inc. (Listed on Nasdaq: ATHM)

Autohome Inc. (“Autohome”) (formerly Norstar Advertising Media) was founded in 2004 in Beijing, China.  The company is the leading online destination for automobile consumers in China.  Autohome provides professionally produced and user-generated content, a comprehensive automobile library, an extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle.  The company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions.  Autohome was successfully listed on the Nasdaq in December 2013.

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Zhaopin Limited (Listed on Nasdaq: ZPIN)

Zhaopin Limited (“Zhaopin”), was founded in 1994 in Beijing, China.  The company is a leading career platform in China focused on connecting users with relevant job opportunities throughout their career lifecycle.  Its customers include leading multi-national companies, reputable SOEs as well as leading private enterprises.  Australia’s leading recruitment platform - SEEK Australia (ASX: SEK) acquired Zhaopin in October 2006.  Zhaopin was successfully listed on Nasdaq in June 2014.

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China Distance Education Holdings Limited (Listed on Nasdaq: DL)

China Distance Education Holdings Limited (“CDEL”), was founded in 2000 in Beijing, China, and it is one of the largest online education service provider in China focusing on professional education.  The courses offered by the company through its websites are designed to help professionals in China to obtain professional licenses and to enhance their job skills, mainly in the areas of accounting, health-care, and engineering & construction.  The company also offers third-party developed courses through their online open learning platform, a proprietary online education platform that allows people to share their educational content or deliver live courses. CDEL was successfully listed on Nasdaq in July 30, 2008.

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BIOSTIME International Holdings Limited (Listed on HKSE: 1112)

Biostime International Holdings Limited (“Biostime”), founded in 1999 in Guangzhou, China.  The company is a premium family nutrition and care products provider.  The company’s family of products includes premium probiotic supplements for children, infant formulas and dried baby food products, baby care products in China.  Biostime was successfully listed on the Hong Kong Stock Exchange in December 2010.  

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Shenzhen Comix Group Limited (Listed on A-Share 002301: Shenzhen)

Shenzhen Comix Group Limited (“Comix”), was founded in 1991 in Shenzhen, China.  The company is one of the largest production and distribution of stationeries, office supplies and office equipments in China.  Comix distributes its products in both domestic and overseas markets under the brand name of COMIX.  With its headquarters located in Shenzhen City, the company processes its own research & production center, and has subsidiary companies spreading over 500 cities across China.  In 2009, Comix was successfully listed in China’s Shenzhen Stock Exchange.  

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Shanghai La Chapelle Fashion Co Ltd (Listed on HKSE: 6116)

Shanghai La Chapelle Fashion Co Ltd (“La Chapelle”) was founded in 2001.  The company is a fast-growing multi-brand fashion group in China which designs, markets and sells apparel products with a focus on mass-market ladies’ casualwear.  The company offer fashions at competitive prices through a wide range of apparel products under eight main brands (5 ladieswear brands, 2 menswear brands, 1 childrenswear brand), namely La Chapelle, La Chapelle Sport, 7.Modifier, Candie's, La Babite, La Chapelle Homme, Pote and La Chapelle Kids.  The company was successfully listed on the Hong Kong Stock Exchange on October 9, 2014.  

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Time Watch Investments Ltd (Listed on HKSE: 02033)

Time Watch Investments Ltd (“Time Watch”) was founded in 1988.  The company is the leading manufacturer, brand-owner and retailer of watches in China.  The company has two proprietary watch brands called “Tian Wang” and “Balco.”  Time Watch primarily engages in the product design and development, sourcing of watch components, assembling and, marketing and sales of the company’s core brand, Tian Wang.  Tian Wang was the top domestic watch brand in the low-to-mid range watch market in China in terms of both retail sales value and retail sales volume in 2011.  Time Watch was successfully listed on the Hong Kong Stock Exchange on February 5, 2013.  

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Cosmo Lady (China) Holdings Co., Ltd. (Listed on HKSE: 2298)

Cosmo Lady (China) Holdings Co., Ltd. (“Cosmo Lady”) was founded in 1998.  The company principally engaged in the design, development and sale of its own branded intimate wear products, namely bras, underpants, sleepwear and loungewear, thermal clothes, and others (including leggings and tights, vests, hosiery and accessories) in China.  The company has a diversified brand portfolio, comprising the core brand “Cosmo Lady” and three sub-brands, namely “Cosmo Elegance”, “Cosmo Blossom” and “Cosmo Esquire”.  Cosmo Lady was successfully listed on the Hong Kong Stock Exchange on June 26, 2014.  

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Ganso (Shanghai) Confections and Dreams Co., Ltd. (Listed on A-Share 603886: Shanghai)

Ganso (Shanghai) Confections and Dreams Co., Ltd. (“Ganso”) was founded in 1978 in Taiwan.  The company is a pastry manufacturer and retail chain operator in China and Taiwan under the brand name “GANSO.”  The company provides moon cake, fresh cream cake, mousse cake, western pastry, flower & fresh fruit, and other bakery products to consumers.  Ganso has its central production facilities located in Shanghai and has branches in provinces such as Zhejiang, Jiangsu, Anhui, Jiangxi, Guangdong, Guizhou, Hunan, Hubei, Sichuan, Chongqing, Shandong, Henan, and Hebei. The company was listed in China’s Shanghai Stock Exchange on December 28, 2016

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Tenwow International Holdings Limited (Listed on HKSE: 1219)

Tenwow International Holdings Limited (“Tenwow”) was founded in 1999 in Shanghai, China.  The company is a leading packaged food and beverage producer in China.  The company operate a unique business model of producing and distributing a comprehensive range of products, ranging from alcoholic beverages, food and snacks, non-alcoholic beverages to other fast moving consumer goods, through a well-established distribution network across China.  Tenwow was successfully listed on the Hong Kong Stock Exchange on September 17, 2013.  

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Lifetech Scientific Corporation (Listed on HKSE: 1302, Acquired by Strategic Investor)

Lifetech Scientific Corporation (“Lifetech”) was founded in 1999 in Shenzhen, China.  The company is a leading developer, manufacturer and vendor of advanced minimally invasive medical devices for cardiovascular and peripheral vascular diseases and disorders.  Lifetech established subsidiaries and sales offices worldwide including The Netherlands, France, Slovakia, India, Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong, with over 180 distributors in Europe, North America, South America, Africa and Asia.  In November 2011, Lifetech was successfully listed on the Hong Kong Stock Exchange.  In October 2012, Lifetech also reached a strategic cooperation with Medtronic Inc., the world top-notched medical device provider based in the US.  

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SouFun Holdings Limited (Listed on Nasdaq: SFUN)

SouFun Holdings Limited (“SouFun”) was founded in 1999.  The company operates the leading real estate Internet portal in China.  Through SouFun’s websites, it provides marketing, e-commerce, listing and other value-added services for China's fast-growing real estate and home furnishing and improvement sectors.  The company’s database contains real estate related content covering more than 350 cities throughout China.  SouFun was successfully listed on the Nasdaq in September 2010.

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Nirvana Asia Ltd (Listed on HKSE: 1438)

Nirvana Asia Ltd (“Nirvana”) was founded in 1990 in Malaysia.  The company is the largest integrated death care service provider in Asia, in terms of contract sales, revenue and land bank in 2013, according to Frost and Sullivan.  The company offers burial and funeral services and products on both as-need and pre-need bases, strategically targeting the premium segment of the death care services market.  Currently, the company offers premium death care products and services through a network of 12 cemeteries, 14 columbarium facilities, six on-site crematoria and two funeral homes in Malaysia, Indonesia, Singapore, Thailand and China.  Nirvana was successfully listed on the Hong Kong Stock Exchange on December 17, 2014.  

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Hopefluent Properties Limited (Listed on HKSE: 0733)

Hopefluent Properties Limited (“Hopefluent”) was founded in 1995.  The company operates in the real estate agency business for the primary and secondary property markets in China.  It provides comprehensive value-added services ranging from planning of marketing programs and related consultancy services to handling of property sales and mortgage arrangements.  Hopefluent is ranked No.3 among the top 50 real estate agency companies in China by China Real Estate Index System.  Hopefluent was successfully listed on the Hong Kong Stock Exchange on July 15, 2004.  

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FunPlus Holdings (Sold to Strategic Investor)

FunPlus Holdings (“FunPlus”) was founded in 2010.  The company is one of China’s leading social and mobile gaming company that creates fun games and builds communities across multiple online and mobile platforms.  One of the company's signature game “Family Farm” is enjoyed globally by over 4 million players each day, according to the company.  FunPlus has over 200 employees and has offices in San Francisco, CA, and Beijing, China.  

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China Home (Cayman) Inc. (Listed on HKSE: 1739)

China Home (Cayman) Inc. (“Jia.com”) was founded in 2005 in Shanghai, China.  The company is one of the leading online to offline (O2O) e-commerce platform for the home renovation sector in China.  The company’s business provides e-commerce platform for suppliers selling construction materials, and for consumers seeking design, fit-out and consulting services in home renovation.  Jia.com also provides consumers’ access to quality contractors and a one-stop-shop platform for consumers looking for home improvement, construction and renovation materials. The company was successfully listed on the Hong Kong Stock Exchange on July 5, 2018.    

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Sangfor Technologies Co., Ltd. (Listed on A-Share 300454: Shenzhen)

Sangfor Technologies Co., Ltd. (“Sangfor”) was founded in 2000 in Shenzhen, China.  The company is the leading and largest vendor in the field of network security, management & optimization solutions in China.  According to the company, it has helped more than 28,000 customers worldwide to increase their network efficiency and productivity while reducing IT costs.  Sangfor stays on top of the technology trends with its three R&D centers in Silicon Valley, Beijing and Shenzhen. The company was listed in China’s Shenzhen Stock Exchange on May 16, 2018.

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iBoxpay International Inc.

iBoxpay Internatinal Inc. (“iBoxpay”) was founded in 2011 in Beijing, China.  The company was the first to develop a series of all-in-one mobile payment solutions (known as “mPOS”) that enable all mainstream mobile payment methods, i.e., IC card, magnetic card, NFC payments, two dimension code payments (QR Payments).  iBoxpay also provides POS, e-commerce, and CRM functions to its merchant customers through its mPOS linked mobile APP.  

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KingMed Diagnostics (Sold to Financial Investors)

KingMed Diagnostics (“KingMed”) was established in 1994 in Guangzhou, China.  The company is one of the leading third-party medical laboratory group with the strongest comprehensive strength, largest size and fastest development speed in China.  The company mainly engaged in four major businesses including - medical testing, clinical trials, food and hygiene testing, and scientific research services.  It also has provincial-level central laboratories in 21 cities throughout China including Hong Kong.  

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Linekong Interactive Group Co., Ltd. (Listed on HKSE: 8267)

Linekong Interactive Group Co., Ltd. (“Linekong”) was founded in 2007.  The company is a leading mobile game developer in China with strong capabilities to self-develop games.  The company provides diverse mobile games and offers superior gaming experiences with a large game player base.  Leveraging its strong game development capability, extensive experience in developing and publishing midcore to hardcore games with a comprehensive distribution network, Linekong successfully shifted its business focus from client-based games and webgames to mobile games in 2013.  Linekong has commercialized and self-developed a number of successful online games over the years.  The company was successfully listed on the Hong Kong Stock Exchange on December 30, 2014.

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Tarena International, Inc. (Listed on Nasdaq: TEDU)

Tedu is a leading provider of professional education services in China with core strength in IT professional education services. Since its inception in 2002, it has offered 12 IT courses and 3 non-IT courses for job seekers. It has an innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules. Through the education platform, it provides job-oriented education with measurable outcomes, as demonstrated by high job placement rates of over 98%. It has also entered K-12 IT training market recently. As of September 2016, it has opened 138 learning centers in 43 cities, and will enroll over 100K students in 2016. It got listed on Nasdaq on April 2014.

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Goldpac Group Ltd. (Listed on HKSE: 3315)

Goldpac is a leading provider of financial cards and solutions in Greater China. It is one of the earliest and the most established player in China’s financial card sector with 20 years of operating history, and it has the widest coverage in China’s banking sector with 200+ banking clients including top tier overseas banking clients. Goldpac currently has a diversified product portfolio consisting of magnetic strip cards and IC cards. In addition, Goldpac also provides on-site card issuance system solutions as well as personalization services to banking clients. The company was successfully listed on the Hong Kong Stock Exchange on December 4, 2013.

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MAS Technology Co., Ltd.

MAS Technology Co., Ltd. (“Wawa”) was founded in 2004.  The company is one of the largest mobile game developer and publisher, which focuses on developing card and board mobile games in China.  According to the company, its flagship game “Wawa, the landlord” is the top grossing card game on its platform, and has one of the largest user base in China.  Wawa also has other strong portfolio of mobile card and board games including “Texas Hold’em poker”, “Mahjong” and “Chinese Chess.”  Its strong management team has over 10 years of experience in the China gaming industry and has navigated the transformation from web game to mobile game.  

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Yaolan New Media Ltd.

Yaolan New Media Ltd. (“Yaolan”), was founded in 1999 in Beijing, China, by Matthew J. Estes.  The company has built the most highly recognized and trusted online parenting brand by offering quality information and education services to pregnant women and parents of 0-6 year-old in China. 

Yaolan also sells pre-natal and new mother products directly online at www.yaolan.com or through its direct selling centers with other baby care products.  The company has also created a compelling information offer around the products by designing courses based on nine time phases, special topics and network building programs.  

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51job.com (Listed on Nasdaq: JOBS)

51job.com (“51job”) was founded in 1998 in China as a leading provider of integrated human resource services platform.  With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development.  The company also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, executive search and compensation analysis.  51job has a nationwide sales office network spanning 25 cities across China.  In September 2004, 51job was successfully listed on Nasdaq.

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EachNet.com (Acquired by Ebay, Nasdaq: EBAY)

EachNet.com (“EachNet”) was founded in 1999 in Shanghai, China and it operates an online platform for users to trade products.  The company also provides online auction services to businesses and consumers in China.  EachNet allows its community of users to trade a range of items including clothing, antique calligraphy, computers, and real estate in auction and fixed-price formats.  In June 2003, EachNet was acquired by eBay for US$225 million in a landmark transaction.  

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Beijing Emar Online Technology Co. (Listed on NEEQ: 836346)

Beijing Emar Online Technology Co. (“Emar”) was founded in 2004 in Beijing, China.  The company is an online marketing services company that provides marketing solutions for online merchants.  The company’s business is split into three major segments - affiliate marketing, advertising network marketing, and SEM Marketing.  In September 2015, Emar was successfully listed on China’s Over-The-Counter (OTC) equity exchange called National Equities Exchange and Quotations (NEEQ).  

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MicroMarketing D&B (Beijing) Co. Ltd (Sold to Strategic Investor)

MicroMarketing D&B (Beijing) Co. Ltd (“MicroMarketing”), was founded in 2001 in Beijing, China.  The company is a leading direct marketing and database marketing services company in China similar to Acxiom and Harte Hanks in the US.  MicroMarketing builds and maintains high quality enterprise and consumer databases for clients to identify potential marketing targets for specific products or services.  It also helps its clients design and execute direct marketing strategy to pre-define target customer groups (including enterprises and consumers).  D&B (Dun & Bradstreet, NYSE: DNB) acquired MicroMarketing in November 2011.  

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Locojoy (Sold to Financial Investors)

Locojoy (“Locojoy”) was founded in 2011.  The company is one of the top mobile game developer and publisher in China.  Locojoy’s flagship game “I'm MT” was the number one grossing game on the App Store in China for a long time since the game launched in January 2013.  The company also launched other mid to hard core mobile games for both China and overseas market including “Warrior King” and “Yingmiao of the 3 Kingdoms”.