Zhongcai Marine Whale Fund SP [Formerly known as Zhongcai Algorithm Long Short Fund Series One SP]

Zhongcai Marine Whale Fund SP was formerly known as Zhongcai Algorithm Long Short Fund Series One SP (“the fund”). Since the establishment of the fund, Zhongcai Asset Management Limited (“ZAML”) appointed Mr. Ge Pei Kun as the fund manager, to manage all investment decisions of Zhongcai Algorithm Long Short Fund Series One SP from April 2018 to May 2022. In June 2022, with the unanimous approval of ZAML and Board of Directors of the fund, to officially change the name of the fund from Zhongcai Algorithm Long Short Fund Series One SP to Zhongcai Marine Whale Fund SP in July 2022.
Zhongcai Marine Whale Fund SP is honored for having Mr. Bian Ximing, the Chairman of the Board of Directors of Zhongcai Group and the Company's major shareholder, to lead the fund. At the same time, the fund appointed Ms. Han Shiyun, the Director and responsible officer of ZAML, as the Fund Portfolio Manager to manage all investment decisions, subscription, redemption and other fund related matters.

Fund Introduction
Zhongcai Marine Whale Fund SP is investing in global markets including the Greater China market. Derivative instruments can be used for investment purpose. The long-short strategy is used to pursue absolute returns. The fund has no fixed benchmark for performance.

Fund Service Providers

Apex Fund Services	APPLEBY	JMD & Partners CPA Limited

Investment Style
The fund manager will adjust the position ratio and holding period based on the value judgment of the different periods of the position variety.

Investment Strategy
The fund manager will take appropriate investment directions according to market trends and external factors in determining which investments to invest in, in order to achieve long term capital gains.

Investment Risk
The fund is subject to derivatives, leverage and short selling risks. The value of the fund is subject to potentially significant volatility and the risks associated with related counterparty, so it may fluctuate significantly in a short period of time and investor may lost all of the investment.

Fees
Subscription fee: N/A
Redemption Fee: N/A
Management Fee: 1% p.a.
Performance Fee: The performance fee is equal to (i) 8% (in the case where the Appreciation (as defined below) is below 50%) AND (ii) 16% (in the case where the Appreciation is equal to or above 50%) of the appreciation of the Net Asset Value attributable to each Series of Shares above the High Water Mark.

Subscription and Redemption
1. The minimum initial investment for each investor is HK$780,000 and the minimum additional investment for an existing Shareholder is HK$400,000. Shares may be purchased on the first Business Day of each calendar month (each a “Subscription Day”) at a subscription price of HK$1,000 per Share.
2. Shareholders may not request the redemption of any Shares prior to the expiry of six (6) months following the date of issue of the relevant Shares. Except as provided herein, a Shareholder may request redemption of all or part of its Shares as of the first Business Day of January, April, July or October.

The above information is from Zhongcai Asset Management Limited (“ZAML”). ZAML cannot guarantee any accuracy, validity, timeliness or completeness of information. ZAML has expressly refused to recognize any commercial protection, or the appropriateness or liability of a particular purpose. The above information is for reference only. All the terms of the fund will be subject to the Offering Memorandum and the Supplement to the Offering Memorandum.