Welcome to the official website of ArborFire Capital (hereinafter referred to as the "Website"). The Website is operated and managed by ArborFire Capital, with servers located in the Hong Kong Special Administrative Region of the People's Republic of China. It provides multi-language versions including Simplified Chinese, Traditional Chinese, English and Japanese for visitors. Before using the Website, please read all terms of this Disclaimer carefully. Your access to, browsing of or use of the Website shall be deemed that you have fully read, understood and agreed to be bound by all contents of this Disclaimer.

I. Nature of Information and Restrictions on Use

1.All contents published on the Website, including corporate introductions, industry viewpoints, research analyses, business information and news updates (collectively the "Website Contents"), are provided solely for general information and reference purposes. They do not constitute any investment advice, financial advice or legal advice, nor do they constitute any offer, invitation to offer or subscription solicitation for securities, funds or equity investment products.

2.The Website makes no express or implied promises or guarantees regarding the return level or principal safety of any investment. All investments entail inherent risks, and investors may suffer partial or total loss of principal.

3.The Website Contents are provided for reference only to Qualified Investors / Professional Investors who meet compliance requirements under the corresponding jurisdictions, and do not constitute product promotion or fundraising solicitation to the unspecified general public.

II. Compliance Reminder for Qualified Investors and Target Audiences

1.In accordance with laws and regulations of the Chinese mainland such as the Regulations on the Supervision and Administration of Private Investment Funds, information relating to private equity funds and equity investment products displayed on the Website is presented in a non-public manner only to Qualified Investors meeting statutory criteria, and does not constitute fundraising or promotion targeting the unspecified general public.

2.Pursuant to the Securities and Futures Ordinance (Chapter 571) of Hong Kong, information on investment products contained on the Website is provided for reference solely to Professional Investors in Hong Kong, and does not constitute any investment solicitation, product promotion or service offer to the Hong Kong public.

3.If you do not satisfy the qualifications of Qualified Investor / Professional Investor under the applicable jurisdiction, please immediately cease browsing relevant product information on the Website. Should you have any business enquiries, you shall complete relevant qualification verification first and obtain corresponding information through officially designated channels.

III. Statement on Information Accuracy and Updates

1.ArborFire Capital has exercised reasonable due care to ensure the truthfulness, accuracy and completeness of the Website Contents as at the time of publication. However, it makes no express or implied warranty as to the absolute accuracy, completeness or timeliness of the information, nor does it warrant that the Contents are free from omissions, errors or delayed updates.

2.The Website Contents may be updated, revised or deleted at any time in response to business adjustments, policy changes and market fluctuations. ArborFire Capital shall not be obligated to notify users separately of such changes. The final rules and information relating to relevant products and services shall be subject to formal legal documents and the latest official announcements released by ArborFire Capital.

3.Forward-looking statements and industry forecasts contained on the Website are prepared based on publicly available information and reasonable assumptions as at the release date. Subject to multiple uncertain factors, they do not constitute projections of future performance and shall not be relied upon as a basis for investment decisions.

IV. Investment Risk Warning

1.All investments carry risks. Past performance and historical returns of funds and investment products are not indicative of future performance and do not guarantee investment returns. Markets are volatile, and investment principal may suffer partial or total loss. Investors shall make prudent decisions in light of their own risk tolerance.

2.Prior to making any investment decision, investors shall carefully review formal legal documents for the corresponding products including fund contracts, prospectuses and product data summaries to fully understand the risk-return characteristics of the products. Where necessary, independent advice from professional investment advisors, legal counsel and tax advisors should be sought.

3.Any investment decisions and transactions made by investors in reliance on information on the Website, as well as all resulting losses and risks, shall be borne solely by the investors. ArborFire Capital shall not bear any legal liability therefor.

V. Disclaimer for Third-Party Links and Content

1.The Website may contain hyperlinks to third-party websites. Such links are provided merely to facilitate users in obtaining supplementary information and do not signify ArborFire Capital’s endorsement, recommendation or guarantee of the operators of third-party websites or their contents.

2.ArborFire Capital accepts no liability for the accuracy, security or legality of contents on third-party websites, nor shall it be liable for any direct or indirect losses incurred by users arising from accessing or using third-party websites. Users access third-party websites at their own risk and shall abide by the relevant rules of such websites.

VI. Intellectual Property Statement

1.All contents on the Website, including without limitation texts, images, audio and video materials, charts, trademarks, logos, software, page layouts and data compilations, are protected by intellectual property rights owned by ArborFire Capital and relevant right holders, subject to the Copyright Law and Trademark Law of the People’s Republic of China as well as intellectual property laws and regulations of Hong Kong.

2.Without written authorization from ArborFire Capital or relevant right holders, no entity or individual may use the Website Contents by means of reproduction, reprinting, modification, dissemination or commercial exploitation, nor may any infringing acts such as reverse engineering or reverse compilation of the Website be conducted.

VII. Limitation of Liability

To the fullest extent permitted by applicable laws and regulations, ArborFire Capital and its directors, supervisors, senior management personnel, employees and affiliates shall not be liable for any direct losses, indirect losses, loss of profits, business interruption, data loss or other damages arising out of the following circumstances:

1.Losses arising from access to, use of, or failure to normally access or use the Website;

2.Losses arising from any decisions or actions made in reliance on the Website Contents;

3.Losses caused by users’ improper operation, equipment malfunction, network environment issues or breach of this Disclaimer;

4.Losses and legal liabilities incurred by overseas visitors resulting from violations of local laws and regulations.

VIII. System Security and Force Majeure

1.ArborFire Capital will maintain stable operation of the Website within existing technical capabilities. Nevertheless, it shall not be liable for consequences including website service interruption, data anomalies and information leakage caused by technical factors such as computer viruses, hacker attacks, network communication failures, system maintenance and upgrades, third-party technical faults, as well as force majeure events including earthquakes, natural disasters, wars and regulatory restrictions.

2.If service is suspended or terminated due to the aforesaid circumstances, ArborFire Capital will endeavor to restore service where conditions permit, but shall not be obligated to pay compensation or indemnity to users for service interruption.

IX. Amendment and Interpretation of the Disclaimer

1.ArborFire Capital reserves the right to revise this Disclaimer at any time in response to updates of laws and regulations, business adjustments or website operational needs. The revised Disclaimer shall be published on the Website and take effect upon publication without separate notification.

2.To the fullest extent permitted by law, ArborFire Capital reserves the final right of interpretation of this Disclaimer.

X. Governing Law and Jurisdiction

1.The formation, performance, interpretation and dispute resolution of this Disclaimer shall in principle be governed by the laws of the Chinese mainland of the People’s Republic of China (excluding the laws of the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan region).

2.If you access the Website from the Hong Kong Special Administrative Region or other overseas jurisdictions, you are obligated to comply with all local laws and regulations. If any content on the Website conflicts with mandatory provisions of local laws, such content shall automatically be invalid for users in that jurisdiction and shall not be deemed to constitute any representation or commitment by us.

3.Any dispute arising out of this Disclaimer or the use of the Website shall first be resolved through friendly negotiation. If negotiation fails:

●Disputes involving mainland users and mainland-related businesses shall be submitted to the people’s court with jurisdiction at the domicile of ArborFire Capital;

●For disputes with overseas users, where mandatory exclusive jurisdiction provisions apply under local laws, such provisions shall prevail; in the absence of such mandatory provisions, the jurisdiction clause set forth in the preceding paragraph shall apply.

XI. Validity of Multi-Language Versions

The English, Japanese and other multi-language versions provided on the Website are made available solely for the convenience of users with different linguistic backgrounds for reference. In the event of ambiguity, conflict or inconsistency between different language versions of disclaimers, terms and Website Contents, the Simplified Chinese version shall prevail, and no other language version shall have priority legal effect.

XII. Special Compliance Exemptions for Overseas Jurisdictions

1.Special Reminder for Hong Kong:

An affiliated legal entity of ArborFire Capital has lawfully obtained the corresponding business licenses issued by the SFC. Compliance-related investment services, product transactions and engagement with Professional Investors in Hong Kong may only be carried out, contracts signed and regulatory obligations performed independently by such separate licensed affiliate. The Website shall not engage in any product promotion, client solicitation or investment inducement on behalf of the licensed affiliate. Furthermore, all business information and related materials published on the Website do not constitute fundraising, promotion or solicitation targeting the Hong Kong public and are provided for reference only to Professional Investors as defined under the Securities and Futures Ordinance.

2.Special Reminder for Japan:

Contents on the Website do not constitute investment inducement, fundraising promotion or transaction offers under the Financial Instruments and Exchange Act of Japan. No investment products or services have been designed by the Website for users located in Japan. Visitors within Japan shall independently confirm that their browsing and use of the Website comply with local laws and regulations.

3.Reminder for Other Overseas Regions:

All contents on the Website do not constitute investment advice, financial advice or product solicitation to the public of any country or region, nor are they tailored for users of any specific overseas jurisdiction. Overseas visitors shall independently confirm that their access to, browsing of and use of the Website fully comply with local laws and regulations. Visitors shall bear all liabilities arising from violations of local laws.

Should you have any questions regarding this Disclaimer, please contact us via the official contact information published on the Website.