Investment involves risks and the prices of securities may go up or down and may even become valueless. Investors should read the relevant Risk Disclosure Statement and relevant documents before making any investment decision.
Investors should note that investing in different Renminbi-denominated securities and products involves different risks (including but are not limited to currency risk, exchange rate risk, credit risk of issuer / counterparty, interest rate risk, liquidity risk (where appropriate)). The key risks of investing in A-shares of Stock Connect Northbound Trading include:

• Transactions under the Northbound or Southbound Trading of Shanghai-Hong Kong Stock Connect / Shenzhen-Hong Kong Stock Connect will not be covered by the Investor Compensation Fund in Hong Kong.
• Once the respective quota is used up, trading will be affected or will be suspended.
• Northbound Trading will only operate on days when both markets are open for trading and when banks in both markets are open on the corresponding settlement days. Investors should take note of the days the Northbound Trading is open for business and decide according to their own risk tolerance whether or not to take on the risk of price fluctuations in securities during the time when Northbound Trading is not trading.
• When some stocks are recalled from the scope of eligible stocks for trading via Northbound Trading, the stocks can only be sold but NOT bought.
• Investors will be exposed to currency risk if conversion of the local currency into Renminbi is required.