CITIC Capital's core businesses include direct investment, real estate funds, structured finance, asset management and special investments. The total funds under its management are nearly US$1.6 billion.

(1) Direct investment The direct investment fund under CITIC Capital is one of the most active direct investment funds in China.

Utilizing our unique perspective in the Chinese market, we work together to increase corporate value and carry out mergers and acquisitions for companies with long-term profitability records around the world.

Since the establishment of the department, through the four funds it manages, it has completed multiple investments in China, Japan and the United States, involving a cumulative enterprise value of more than US$2.3 billion.

(2) Real Estate Fund The real estate department of CITIC Capital focuses on investment management and consulting of Chinese real estate.

Invest in real estate projects directly or jointly with other investors through managed funds or own funds, and acquire properties that need improvement.

It also invests in equity interests in real estate developers.

Currently, real estate funds manage more than $500 million in funds to date.

CITIC Capital raised US$683 million for its fourth real estate fund on June 17, 2013.

(3) Structured Financing The Structured Financing Department provides diversified asset class investment and financing products between senior debt and equity, including mezzanine financing, high-yield loans and other structured financing.

It also provides different financial services to companies with operating assets in China and cross-border financing needs, including arranging syndicated loans, structured debt instruments and mezzanine financing products.

Through the mezzanine investment and financing fund (CITIC Allco Investments Limited) invested in cooperation with the Australian listed investment company (Allco Finance Group), it focuses on investing in industry, infrastructure construction (including transportation, energy, medical facilities, etc.) and real estate in Greater China.

, and projects such as pre-IPO restructuring, acquisitions and mergers.

This includes co-investing in its first project in China with the world-renowned Starwood Capital Group, building a bridge between international investors and domestic capital demanders.

(4) Asset Management CITIC Capital Asset Management Department focuses on investment and investment consulting services in public market stocks and other liquid securities.

Through high-level and professional services, CITIC Capital helps international investors (including Spanish banks, etc.) capture investment opportunities brought about by the economic development of the Greater China region.

Since its establishment in 2002, it has provided investors with a series of stock hedge funds and mutual funds focusing on Greater China stocks.

Currently, it manages 3 hedge funds and 1 mutual fund.

(5) Special Investment The Special Investment Department focuses on investing in undervalued real estate, non-performing assets and equity in special fields to provide investors at home and abroad with high-liquidity value investment opportunities.

As of December 2007, *** had invested approximately RMB 940 million in distressed debt, distressed real estate and other special investment projects.

We also provided various support and value-added solutions for one of the real estate projects, including providing financial support and solving related problems such as bank loans and capital turnover for the project party.