China e-Commerce

The following analyst(s), who is(are) primarily responsible for this document, certifies(y) that the opinion(s), views or forecasts expressed herein accurately reflect their personal view(s) and that no part of their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report: Charlene Liu, Christopher Johnen, Junhyun Kim, Nicolas Cote-Colisson, Piyush Choudhary, CFA and Charlotte Wei

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1. This report is dated as at 28 February 2024.
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