CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM")
OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK
EXCHANGE")
GEM has been established as a market designed to accommodate
companies to which a high investment risk may be attached. In
particular, companies may list on GEM with neither a track record of
profitability nor any obligation to forecast future profitability.
Furthermore, there may be risks arising out of the emerging nature
of companies listed on GEM and the business sectors or countries in
which the companies operate. Prospective investors should be aware
of the potential risks of investing in such companies and should
make the decision to invest only after due and careful consideration.
The greater risk profile and other characteristics of GEM mean that it
is a market more suited to professional and other sophisticated
investors.
Given the emerging nature of companies listed on GEM, there is a
risk that securities traded on GEM may be more susceptible to high
market volatility than securities traded on the Main Board and no
assurance is given that there will be a liquid market in the securities
traded on GEM.
The principle means of information dissemination on GEM is
publication on the Internet website operated by the Stock Exchange.
Listed companies are not generally required to issue paid
announcements in gazette newspapers. Accordingly, prospective
investors should note that they need to have access to the GEM
website in order to obtain up-to-date information on GEM-listed
issuers.
The Stock Exchange takes no responsibility for the contents of this report,
makes no representation as to its accuracy or completeness and expressly
disclaims any liability whatsoever for any loss howsoever arising from or in
reliance upon the whole or any part if the contents of this report.

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