Distressed asset management is the foundation of our business. We apply different operational and management models for different distressed asset market segments to realize income from appreciation in asset value and restructuring of assets. Our distressed asset management business is comprised of distressed debt asset management, DES asset management, custody and agency services for distressed assets, distressed asset-based special situations investments and distressed asset-based property development. With our professional technical advantages, extensive experience in capital operations and accumulated client resources, our professional team is able to maximize the value of distressed assets. Based on our experience, we have gradually explored and formed a distressed asset pricing mechanism and a risk control system befitting our business features. Meanwhile, backed by our sound process management and risk management systems, thorough due diligence investigation, flexible transaction structure planning and stringent project risk control measures, we have achieved effective risk control. Prior to the acquisition of distressed asset, we conduct stringent due diligence investigation and prudent assets evaluation. After the commencement of a project, we conduct regular and consecutive monitoring as well as dynamic management of the project and the related collateral. When we dispose assets, we also conduct appropriate evaluation and make the disposal in a public and transparent manner. Through a comprehensive set of project process system we manage to classify, reassess and enhance the value of our distressed assets in order to maximize returns.