Analyst Coverage
Company Equity Analyst
Bank of America Merrill Lynch Matty Zhao
China Galaxy International Securities (Hong Kong) Co. Ltd Mark Po
China International Capital Corporation Limited Yan Chen
Citigroup Global Markets Asia Ltd Eric Lau
CLSA Asia-Pacific Markets Timothy Lee
Credit Suisse (HK) Ltd. Yang Luo
Daiwa Capital Markets Hong Kong Limited Carlton Lai
DBS Vickers Securities Patricia Yeung
First Shanghai Financial Group Wilson Zou
GF Securities Zhong Ping Zhao
Goldman Sachs (Asia) LLC Joy Zhang
Huatai Financial Holdings (Hong Kong) Limited Jie Gong
ICBC International Research Limited Julie Zhang
Jefferies Hong Kong Limited Johnny Wong
JP Morgan Securities (Asia Pacific) Limited Po Wei
Macquarie Capital Limited David Ching
Morgan Stanley Rachel Zhang
The Hong Kong and Shanghai Banking Corporation Limited Howard Lau
UBS AG Winston Du
Yuanta Securities (Hong Kong) Company Ltd. Peter Chu

DISCLAIMER: It is our understanding that the institutions and analysts listed above provide research coverage on Nine Dragons Paper. This list may not be comprehensive nor up-to-date as institutions may from time to time change their analyst appointment or research coverage without notifying us. Any views, estimates, projections or recommendations provided by these institutions and analysts do not necessarily represent or reflect the views, estimates, projections or recommendations of Nine Dragons Paper, its directors or management. By listing such research coverage above, Nine Dragons Paper does not imply its endorsement of, agreement on or propagation of the views, estimates, projections or recommendations provided by these institutions and analysts.