Investment values and income derived from such investments may rise or fall, and investors may not be able to recover the amount originally invested in the account. Specifically, investment values may be affected by various uncertain factors, including international, political and economic developments or changes in government policies. When the stock market declines, volatility may increase. Under such circumstances, market prices may not be consistent with rational analysis or long-term expectations, and may be affected by large capital flows due to short-term factors, anti-speculation measures or other reasons.

Clients should understand the additional risks of entrusting the Company to represent their initial portfolio or portfolio on behalf of their account, including the client's complete reliance on the Company's integrity and skills, and the inherent risks of conflicts of interest when the Company acts on behalf of clients and clients are in opposing positions.

The risk of loss in trading futures contracts and options can be substantial. In certain circumstances, the losses suffered by clients may exceed the amount of margin initially deposited by clients. Even if clients set standby instructions, such as "stop loss" or "limit" instructions, losses may not be avoided. Market conditions may make such instructions impossible to execute. Clients may be required to deposit additional margin within a short period of time. If the required amount cannot be provided within the specified time, the client's open contracts may be closed out, and the client will still be responsible for any shortfall in the account resulting therefrom. Therefore, before trading, clients should research and understand futures contracts and options, and carefully consider whether such trading is suitable for clients based on their own financial situation and investment objectives. If clients trade options, they should be familiar with the procedures for exercising options and option expiration, as well as the rights and responsibilities of clients when exercising options and option expiration.

The risk of loss from obtaining financing for trading by depositing collateral can be substantial. The losses suffered by clients may exceed the cash and any other assets deposited by them with the relevant licensee or registrant as collateral. Market conditions may make standby trading instructions, such as "stop loss" or "limit" instructions, impossible to execute. Clients may be required to deposit additional margin amounts or pay interest within a short period of time. If clients fail to pay the required margin amount or interest within the specified time, their collateral may be sold without their consent. In addition, clients will be responsible for any shortfall in their account and interest payable as a result. Therefore, clients should carefully consider whether such financing arrangements are suitable for them based on their own financial situation and investment objectives.

The prices of securities and/or bonds may be highly volatile. The prices of individual securities and/or bonds may rise or fall, or even become worthless. Trading securities and/or bonds may not necessarily generate profits, but may instead result in losses.

GEM shares involve high investment risks. In particular, such companies can be listed on GEM without requiring profit records and without predicting future profits. GEM shares may be highly volatile and have low liquidity. Clients should make relevant investment decisions only after careful and careful consideration. The higher risk nature and other characteristics of the GEM market mean that this market is more suitable for professional and other investors familiar with investment techniques. Information about GEM shares is currently only available on the Internet website operated by the Stock Exchange. Companies on GEM generally do not need to publish paid announcements in newspapers designated by the Government Gazette. If clients have any uncertainty or unclear understanding of this risk disclosure statement or the nature and risks involved in GEM shares, they should seek independent professional advice.

Clients should understand the nature of such foreign investments and all risks undertaken in trading, including but not limited to their not being regulated by exchanges and not being protected by compensation funds. Clients should carefully consider whether such trading is suitable for them based on their own investment experience, risk tolerance and other relevant conditions. If clients have any questions, they should seek independent professional advice.

Accounts may be partially invested in assets denominated in currencies other than their base currency, such as RMB. The performance of such accounts will therefore be affected by exchange rate movements between the currency of the assets held and the base currency of the account. Since the Company aims to achieve the highest return calculated in the base currency for such accounts, investors investing in such accounts may be subject to additional currency risks.

US Stock Exchange Securities Risk: Securities listed and traded under the NASDAQ-American Stock Exchange Pilot Program (Pilot Program) are designed for investors familiar with investment techniques. Before trading securities under the Pilot Program, clients should first consult the Company and become familiar with the Pilot Program. Clients should be aware that securities listed and traded under the Pilot Program are not regulated as securities listed primarily or secondarily on the Main Board or GEM of the Stock Exchange.

Some markets in which clients invest have lower liquidity and greater volatility compared to leading global securities markets, which may result in price volatility of securities traded in such markets. Some securities may be difficult or impossible to sell, which will affect the account's ability to buy or sell such securities at their intrinsic value.

Securities and futures contract prices may be volatile. Securities and futures contract price movements are difficult to predict and will be affected by various factors including changes in supply and demand relationships, government trade, fiscal, monetary and foreign exchange control policies, national and international political and economic events, as well as the inherent volatility of the market. The value of the account will be affected by such price changes and will be particularly volatile in the short term.

Legal, tax and regulatory changes may occur in the future. For example: the regulatory or tax environment for derivatives is evolving, and regulatory or tax changes may adversely affect the value of derivatives. Changes to existing laws and regulations will result in changes to the legal requirements that the Account may be subject to, and may adversely affect the Account and clients.

Counterparty risk includes the risk that a counterparty or third party will not fulfill its obligations to the account. The account may be subject to counterparty risk when making investments such as bonds, futures and options. If a counterparty defaults and the account is denied the exercise of its rights related to portfolio investments, the value of the account may decline and incur costs related to the rights attached to the securities. The account may suffer significant losses as a result. In particular: Cash and deposits: The account may hold cash and deposits with banks or other financial institutions, and the scope of government and regulatory oversight may vary. If a bank or financial institution becomes insolvent, the account may suffer significant losses or even total loss. Debt securities: There is no guarantee that investing in debt securities will not result in losses. Counterparty defaults on interest or principal may adversely affect the performance of the relevant account.

Under certain circumstances, the account may be terminated, such circumstances are outlined in Clause 15 below. If the account is terminated, the account must distribute to asset holders a pro-rata interest equal to the account assets. At the time of sale or distribution, the value of certain investments held by the relevant account may be lower than the initial cost of purchasing such investments, resulting in losses to asset holders. In addition, any unfullyamortized organizational expenses related to the relevant account (such as establishment costs) will be deducted from the account's assets at that time.

In addition to management fees, unless otherwise agreed by both parties, the Company may also charge performance fees based on the appreciation of the account's net asset value. Since the calculation of the account's net asset value takes into account unrealized appreciation and realized gains, the Company may charge performance fees on subsequent unrealized gains. In addition, performance fees may incentivize the Company to make investments for the relevant account, but the risks will be higher than in situations where fees are not charged based on the account's performance.

Client assets received or held by the Company or its agents outside Hong Kong are governed by the applicable laws and regulations of the relevant overseas jurisdiction. These laws and regulations may differ from the Securities and Futures Ordinance (Chapter 571) and the rules made under that Ordinance. Therefore, the relevant client assets may not enjoy the same protection afforded to client assets received or held in Hong Kong.

Electronic trading facilities are computer-based systems for the transmission, execution, matching, registration or settlement of trading instructions. When the Company conducts transactions through the above facilities, all of the above trading facilities may be temporarily interrupted or malfunction, and the compensation that your clients can obtain may be subject to limitations imposed by system suppliers, markets, clearing companies and/or participant firms on their responsibilities. The stability and functionality of the broker platform, network, computer and other related peripheral facilities selected by clients are closely related, so any failures or losses that may be caused by these external factors require clients to manage these risks themselves and bear all economic consequences that may arise. The trustee will not be responsible for losses caused thereby.

a. Clients should understand that during the trading process, they may encounter unforeseeable, unavoidable and insurmountable force majeure events, including but not limited to natural disasters (such as earthquakes, floods, typhoons), social events (such as wars, unrest, strikes), government actions (such as emergency measures, policy changes, trading bans), technical problems (such as network failures, system crashes, data loss), malicious attacks (such as hacker intrusions, virus infections) and other situations. These events may seriously affect the normal operation of the trading system. Clients must fully understand and acknowledge that the trustee will not be responsible for any trading losses caused by force majeure.

b. Clients hereby confirm that in the event of force majeure, the trustee may suspend or terminate the provision of services until the corresponding normal state is restored. The trustee will make every effort to notify clients of any significant changes in service status as soon as possible. During the occurrence of force majeure events, clients should take all reasonable measures to reduce losses and should bear all economic consequences resulting therefrom.

The trustee has the responsibility to require clients to ensure that all investment funds are from legal sources. If legal problems arise due to fund source issues, such as accounts being forcibly suspended from trading, frozen, seized or profits being recovered by administrative or judicial authorities, the trustee will not be responsible for any related obligations, and the related legal responsibilities and losses will be borne by you.

a. Knowledge and Consent:
The client confirms that they have carefully read and understood the above "Risk Disclosure" and related service agreements, including but not limited to the operation methods, risks and potential returns of intelligent trading software. The client agrees to bear all risks related to the hosting service and guarantees that their entrustment matters comply with their own business decision-making procedures. The client promises that all information provided to the trustee, including investment preferences and risk tolerance, is true, legal and valid, and there are no material omissions or misleading statements. If relevant information undergoes material changes, the client should promptly notify the trustee in writing.

b. Legality Guarantee:
The client declares that the funds used for investment are completely legal, have legal ownership or disposal rights, and the sources comply with all applicable laws, regulations and policies. The client guarantees that there are no illegal behaviors such as illegally pooling others' funds for investment, unreasonable benefit transfers, related party transactions or money laundering. The client has complete and legal rights to entrust the trustee to use automatic trading software for hosting services.

c. Disclaimer:
The client acknowledges that the trustee has not made any commitments or guarantees regarding anything (including historical performance). All stated performance is only used as service targets and does not constitute the trustee's guarantee of future performance.

d. Self-assessment of Risk Tolerance:
The client has fully understood and carefully assessed their risk tolerance, and confirms their willingness to independently bear all risks that the hosting service may face. The trustee has provided detailed explanations to the client to ensure that the client has a comprehensive understanding of the service.

e. Limitations of Risk Disclosure:
This risk disclosure document strives to comprehensively enumerate the main risks related to investment, but cannot cover all potential risk factors. Clients should recognize that there may be other risks not explicitly listed.