Further access to this website (the "Site") is provided subject to your acknowledgement of having understood and accepted the important terms and other Information provided.


SHKIS means Sun Hung Kai Investment Services Limited (“SHKIS”), and together with its associates and subsidiaries, Sun Hung Kai Financial or SHKF (“SHKF”). Information (“Information”) includes without limitation data, opinions, forecasts, analysis and other content contained on this site (“Site”).


At the date of this Site, SHKIS and / or SHKF and / or their directors, representatives, employees and associates and the families of the foregoing, may have interests in any securities or any class of securities of a corporation with respect to which a recommendation has been made, whether express or implied, in this Site. Additionally, SHKIS and/or SHKF and/or their directors, representatives, employees and associates and the families of the foregoing, may, at any time, have long or short positions in any of the securities mentioned in this Site, and may, as principal or agent, make a purchase or sale, or offer to make a purchase or sale, or otherwise deal in any of the said securities or investments from time to time in the open market or otherwise.

SHKIS’s policy prohibits its analysts, persons reporting to analysts or members of their households from serving as an officer, director, advisory board member or employee of any company in the analyst's area of coverage.

SHKIS and/or SHKF does and / or seeks to do business with many issuers, including through the provision of investment banking or other services. For the purposes of review of this Site, Users should assume that SHKIS and/or SHKF has acted as a manager or co-manger of an offering of securities referred to in this Site within the prior 12 months or has provided other services to the issuer within the prior 12 months for which it has received or expects to receive compensation.


The value of, and income from, an investment may vary because of changes in interest rates or foreign exchange rates, changes in the price of securities or indices, changes in operational or financial conditions of companies and other factors. There may be time limitations on the exercise of, or the exercise of rights associated with, the instruments and / or investments referred to in this Site. Past performance is not necessarily a guide to future performance.

The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.


This Site and the Information contained in this Site is intended to be used by clients of SHKIS in Hong Kong (“SHKIS Clients”) and is not intended for distribution to, or use by, any other person or entity other than SHKIS Clients.

The Information provided on this Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject SHKIS and/or SHKF, its holding company, fellow subsidiaries, associates or other affiliates to any regulatory requirement within such jurisdiction or country. Any person or entity who intends to respond to or rely upon the Information provided on this Site must satisfy himself or herself that he or she is not subject to any local requirement which restricts or prohibits him or her from doing so.

The Information contained in this Site is provided for information and discussion purposes only. Neither any opinion referred to in this Site constitutes a solicitation or an offer by SHKIS, their directors, representatives and / or employees, to buy or sell, whether as principal or agent, any securities, futures, options or other financial instruments.

The instruments and / or investments referred to in this Site may not be suitable for all Users, and the Information provided in this Site has no regard to the specific investment objectives, investment experience, financial situation or needs of any particular recipient. Users must make their own investment decisions based on their own investment objectives and financial position. SHKIS recommends that investors independently evaluate each issuer, investment or instrument referred to in this Site, and that they use any independent advisers that are necessary for understanding such instruments / investments, and the appropriateness of any decision involving such.

Although the Information contained in this Site is provided in good faith and obtained or compiled from sources that SHKIS believes to be reliable, it does not represent or warrant, whether expressly or impliedly, the accuracy, validity, timeliness or completeness of any such Information. SHKIS expressly disclaims any warranties whether express or implied, of merchantability or fitness for a particular purpose, or duties of care, in favor of any third party relying upon any Information. Any Information contained in this Site may change from time to time and SHKIS gives no undertaking to provide notice of any such change. Opinions and estimates stated in any report reflect the judgment or views of SHKIS' analyst as at the date of its initial publication but which may change from time to time. SHKIS gives no undertaking to provide notice of any such change.

Limitation Of Liability
To the extent permitted by law, in no event will SHKIS and/or SHKF be liable or have any responsibility for damages of any kind, whether direct, indirect, special, consequential or incidental, relating to access or use of, or inability to access or use, this Site including (without limitation) damages resulting from the act or omission of any third party, even if SHKIS and/or SHKF have been advised of the possibility thereof.

Code of Conduct
While using this Site, you agree not to, by any means (including hacking, cracking, or defacing any portion of the Site):
1. Use the Site for unlawful purposes;
2. "Frame" or "mirror" any part of the Site;
3. Transmit any software or other materials that contain any virus, time bomb, or other harmful or disruptive component;
4. Remove any copyright, trademark or other proprietary right notices contained in the Site; or
5. Permit or help anyone without access to the Site to use the Site through your username and password or otherwise.

Password Use
You represent and agree that any password issued to you by SHKIS is personal to you and you must ensure that such password is known only to you and shall not be made available to any other person.

Linked Sites
Neither SHKIS nor SHKF has reviewed any of the websites to which this Site links, and is not responsible for the content of any other websites of pages linked to or linking to this Site. Such links are provided solely for your convenience and information. Following links to any other websites or pages shall be at your own risk. SHKIS or SHKF is not responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, Information or other content provided in such site, whether actual, alleged, consequential or punitive.

The Information on this Site may not be reproduced, distributed or published in whole or in part or otherwise made available without prior express written consent from SHKIS. Unless specifically indicated otherwise, the pages and contents of this Site including the layout of the Site are the Copyright of SHKIS or are protected under third party copyright. A single copy of material on this Site may be downloaded and / or reprinted for personal use only and may not be distributed to third parties. Any downloaded or reprinted material may not be altered in any way and must contain the following copyright notice: © 2017 SHKIS. All rights reserved.

© 2017 SHKIS. All rights reserved.The Information contained in this Site may not be reproduced or redistributed, in whole or in part, without the permission of SHKIS and SHKIS accepts no liability for actions of third parties in this respect.

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