Chairman's Letter

Amidst the “right-away” celebrations and blessings, 2014, the Year of the Horse arrives at a gallop. The Chinese people, who are well known for their diligence, start working hard again for their dreams throughout the year. It is the endeavor of every individual and group that pushes China’s economy into rapid running and roaring progress. Being a part of them, we would like to extend our deep respect and best wishes to every companion.

As a professional institutional investor, CITICS Prosperity Fund never lacks its passion nor loses its calmness while standing at a new start point. For this year, we firmly believe that China’s economy will continue radiating the renewed vigor in the course of reform, the Chinese financial industry will better support the real economy through further innovation, and the Chinese market will unceasingly produce more wonderful projects and investment opportunities. For this year, we also recognize that since China’s economic restructure is a profound and lasting process, the European and American economic recovery brings not only opportunities but also challenges to the emerging market. What waits for China’s large assets management industry will be a qualitative distillation after the quantitative breakthrough.

Clearly and certainly, the road ahead is tough. Beset by the constantly changing business environment and in the face of unpredictable consequences, persistence and innovation is our response to them.

We will be determined to eradicate fickleness. Carrying with our enterprise culture, rules and professional teams, we stick to the vision of becoming the most trustworthy assets management institution in China, fulfill the value of “trust-based establishment for steady advancement” and the investment idea of concerning values and controlling risks, and stand at the starting point and objective of repaying shareholders and investors.

We will embrace changes and make innovations in an initiative and bold manner. Driven by our crisis awareness, flexible mechanism and great ambition, we closely track the industrial trend and new commercial mode to dig out new opportunities for investment; we continue to develop new partners and cooperative mode to create and share values; we carry forward and take a lead in the innovation of investment way and transaction framework to pursue higher return and certainty; we introduce and design new system and management method to improve the efficiency and control the risk.

A new year comes again. There is an ancient poetry saying that “with the rising of the sun, numerous households are replacing the old peach wood charms with new ones.” Sharing your own thoughts on this special occasion will, to my belief, let us find more common interests with new and old friends. Along the road, CITICS Prosperity Fund will keep a proactive but prudent attitude to make selections between the variance and invariance, and take a brave but steady pace to move ahead under persistence and innovation.