Risk Disclosures

Investments involve risks and past performance is not indicative of future performance. The price movement of investment funds may be volatile. It may go up as well as down, and may even become valueless. Therefore, customers may not receive any return from the investment, or may substain losses in the investment. Customers may not be able to liquidate their investment immediately under certain market conditions. Before making any investment decisions, customers should seek independent financial advice.

Warning Statements on Complex Products

Investors should exercise caution in relation to Complex Products. A “Complex Product” refers to an investment product whose terms, features and risks are not reasonably likely to be understood by a retail investor because of its complex structure. Investors may lose the entire invested amount or more than the invested amount (if applicable). For Complex Products for which the offering documents or information provided by the issuer have not been reviewed by the SFC, investors are advised to exercise caution in relation to the offer. For Complex Products described as having been authorized by the SFC, SFC authorization does not imply official recommendation, is not a recommendation or endorsement of a product and does not guarantee the commercial merits of a product or its performance. Where past performance information is provided, past performance is not indicative of future performance. Some Complex Products are only available to professional investors. Investors should read the offering documents and other relevant materials to understand the key nature, features and risks of a Complex Product and are advised to seek independent professional advice before making any investment decision and should have sufficient net worth to be able to assume the risks and bear the potential losses of trading the product.