This document is prepared by Everbright Securities International(“EBSI”) and/or its affiliates and/or its media partners. It is on basis of publicly available reports, news, or data. It is not compiled to provide substantive/specific research/analysis. The document shall be used exclusively by a recipient of this document for general information purpose. The purpose of this document is not to provide the basis, recommendation, or suggestion for the recipient to make investment decisions. This document does not constitute investment advice or financial advisories for any institution/individual, including but not limited to the recipient, under any circumstances. The recipient or any institution/individual should make independent judgments about their own investment. Regardless of whether the document has been directly or indirectly referred to, EBSI and/or its affiliates and/or its media partners shall not be liable or held liable for any direct or indirect losses or consequences caused by usage of the content of the document.
This document provides general information only. EBSI and/or its affiliates and/or its media partners make no express or implied statement and do not guarantee the accuracy, completeness, or reliability of any information contained in this document. The introduction or description of any product, service, or financial instrument mentioned in this material is exclusively for general information. EBSI and/or its affiliates and/or its media partners do not guarantee the accuracy, completeness, or reliability of any introduction or the description thereto. The introduction or explanation in this document does not constitute an invitation, recommendation, guarantee or publicity to subscribe/purchase/sell any products, and does not advise to subscribe/purchase/suspend any services or financial instruments.
This document is not prepared or provided to offer any legal, taxation, accounting, investment, or other regulated services or professional services. This information shall not be construed as legal advice, financial/tax advice, investment advice, or other professional service advice under any circumstances. When the recipient needs professional advice on the legal, taxation, accounting, or investment-related matters mentioned in this material, it shall consult legal counsel, financial/tax consultant, investment consultant, and other professional service agencies/personnel on its own. When the recipient or any third party directly or indirectly refers to the law, taxation, accounting, or investment-related content mentioned in this material, if any, to take/make relevant actions/decisions, it shall bear the relevant consequences and responsibilities by itself. EBSI and/or its affiliates and/or its media partners shall not be responsible or held responsible for such actions or decisions.
Any opinions mentioned in this document are exclusively general opinions. The opinions may be different or inconsistent with other research and analysis of EBSI and/or its affiliates and/or its media partners or its business departments/personnel. They may also be inconsistent with the actual investment decisions of EBSI and/or its affiliates and/or its media partners. Regardless of the circumstances, EBSI and/or its affiliates and/or its media partners are expressively exempted from any liability related to or arising from the usage of all or part of the contents of this document or any information contained therein.
This document provides no promise or statement about past or future conditions, nor can it be trusted or used as a promise or statement. The content of the past performance, if any, in this document should not be used as a reliable indicator for the future performance; the content of the future performance, if any, in this document is only forward-looking statements which subject to many risks and uncertainties.
The information contained in this document may be changed due to changes in the reports, information, or data on which it is based. EBSI and/or its affiliates and/or its media partners assumes no obligation to update the document or to notify of any modification to the document. The product structures and product introductions described in this document, if any, may be adjusted due to changes in regulatory policies or business development. This document only introduces part of the product structure that exists in the market before or at the time of the publication of this document. It does not contain any business recommendation, guarantee, or advice to the legal relationship of a specific product.
This document shall be used exclusively by the recipient. Except for the recipient and the person hired to provide advice to the recipient, the distribution of this document to anyone is unauthorized. Copyrights of this document are reserved by EBSI. Without written permission, no institution or individual may forward, reproduce, copy, publish or quote in any form.
This disclaimer applies in all situations. When jointly used with other written information or verbal introduction, this document is completely independent of other written information or verbal introduction regardless of the specific usage scenario or method. The quality of other written document or verbal presentation does not cause this disclaimer to be inapplicable.
Everbright Sun Hung Kai is rebranded as “Everbright Securities International” from January 10, 2022 (“Rebranding”). Any document bearing the Everbright Sun Hung Kai brand, its sub-brands or names containing “Sun Hung Kai” or “新鴻基” was issued or produced for use before the Rebranding. The logos, marks and/or names containing the service marks “Sun Hung Kai” or “新鴻基” were used under a license from Sun Hung Kai & Co. Limited (SEHK: 86). For new names of our companies, please refer to www.ebshk.com/rebranding/2022.pdf.
If the document was previously published by a media partner of EBSI and/or its affiliates, the copyright of the document belongs to the relevant media partner. If the document was first published by EBSI directly, the copyright of the document belongs to EBSI unless specifically stated otherwise.