The past 2009 was a delighting year. Thanks to the vigorous support from macro-economic policy, China and the world as a whole witnessed an earlier recovery from the financial crisis than expected. Besides, the domestic and global stock market started to rebound from the bottom. Those investors who shared weal and woe in the financial tsunami with our company were happy to reap the returns from the market recovery.

The stock market underwent a radical drop in 2008 and a delighting recovery in 2009. We have learnt from this experience that confidence is essential in the changing market. With firm confidence in China¡¯s long-term economic growth and the continuous development and improvement of domestic capital market, the investors tided over the difficulties with our company and finally earned satisfying rewards. In 2009, ChinaAMC¡¯s funds maintained sound performance and the accumulative net value of several equity funds regained or exceeded the highest level in 2007. Additionally, the company attained a new height in AUM, namely RMB 300 billion, and claimed more than 13 million fund holders. More recognition and trust we have earned from investors, more responsibility we shall take for investors.

As is well-known, 2010 is the year of tiger on the Chinese lunar calendar. Tiger is a symbol of strong vigor and considerable courage. ChinaAMC and China¡¯s fund industry, which were born in the preceding year of tiger, are walking into the 12th year. We are convinced that ChinaAMC, with investors¡¯ trust and support and the whole staff¡¯s hard work, will make new progress and continuously provide our investors with satisfying returns.