RMB Currency Risk

Renminbi (""RMB"") is subject to exchange rate risk. Fluctuation in the exchange rate of RMB may result in losses in the event that the customer subsequently converts RMB into another currency (including Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. RMB is currently not freely convertible and conversion of RMB may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time.

Foreign Currency Risk

Foreign Exchange involves Exchange Rate Risk. Fluctuations in the exchange rate of a foreign currency may result in gains or loss of principal in the event that the customer converts the deposits from Hong Kong Dollars or foreign currency to another currency, and/or in the event that the customer converts a foreign currency time deposit to another currency (including Hong Kong Dollar) upon maturity. Such fluctuations may also result in gains or losses in the event that the customer converts HKD to foreign currency or vice versa, and/or in the event that the customer converts a foreign currency policy benefit to HKD upon settlement.

About Risk Profile Questionnaire

The Risk Profiling Questionnaire is provided by Hang Seng Bank Limited (the ""Bank"") and is intended to help the customer understand his / her risk profile and investment needs. The Bank makes no guarantee, representation or warranty and accepts no responsibility or liability as to the accuracy or completeness of the information or recommendation given. The suggestions are derived from information that the customer has provided to the Bank. The suggestions are designed to meet the needs discussed in this test and are in line with the customer’s attitude towards risk. The suggestions are for the customer’s consideration when making his / her own investment decisions. The suggestions are not an offer to sell or a solicitation to buy any financial products and the suggestions should not be considered as investment advice.

Life Insurance Plans

Please refer to the promotion leaflets / flyers and contracts for the important information such as detailed coverage, exact terms and conditions and exclusions of the relevant life insurance plans. Please refer to the product brochures for the relevant product risks. The above life insurance plans are underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”). Hang Seng Insurance is authorised and regulated by the Insurance Authority in the HKSAR. The Bank is an insurance agency authorised by Hang Seng Insurance for distribution of the above plans, and the above plans are products of Hang Seng Insurance but not the Bank. Upon application for these plans, insurance premium will be payable to Hang Seng Insurance, and Hang Seng Insurance will provide the Bank with commission and performance bonus as remuneration for distribution of these plans. The existing staff remuneration policy on sales offered by the Bank takes into account various aspects of the staff performance instead of focusing solely on the sales amount. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related insurance product transaction, the Bank will enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance and the customer directly.

The benefits and/or returns mentioned throughout this material are not guaranteed and for illustrative purpose only. The actual future amounts of benefits and/or returns may be lower than or higher than the currently quoted benefits and/or returns. The policyholder is subject to the credit risk of “Hang Seng Insurance”.

If the policyholder discontinues and/or surrenders this policy in early policy years, the amount of benefits you will get back may be considerably less than the total premiums you have paid. All details regarding policy surrender should be referred to the relevant policy provisions.

General Insurance Plans

The above general insurance plans (""Plans"") are underwritten by Chubb Insurance Hong Kong Limited (“Chubb”), which is authorised and regulated in Hong Kong by the Insurance Authority. Chubb reserves the right of final approval of the policy issuance. The Bank is registered as an insurance agency by the Insurance Authority (Licence No.: FA3168) and authorised by Chubb for distribution of these Plans. These Plans are products of Chubb and not the Bank. Upon application for these Plans, insurance premium will be payable to Chubb, and Chubb will provide the Bank with commission and performance bonus as remuneration for distribution of these Plans. The existing staff remuneration policy on sales offered by the Bank takes into account various aspects of the staff performance instead of focusing solely on the sales amount.

In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and the customer out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the insurance product, underwriting, claims and policy service should be resolved directly between Chubb and the customer.

The above information is intended to be a general summary for reference only. Please refer to the policy wording for exact terms, conditions, details of the exclusions and relevant product risks.

Voluntary Health Insurance Scheme

The Voluntary Health Insurance Scheme Series (“Series”) are underwritten by HSBC Life (International) Limited (""HSBC Life""). HSBC Life is authorised and regulated by the Insurance Authority of Hong Kong to carry on long-term insurance business in Hong Kong. The Series are products of HSBC Life and not the Bank. HSBC Life will be responsible for providing your insurance coverage and handle the network management under the policy. The Bank is registered in accordance with the Insurance Ordinance (Cap. 41 of the Laws of Hong Kong) as an insurance agency (Licence No.: FA3168) of HSBC Life for the distribution of the Series in Hong Kong. Upon application for the Series, insurance premium will be payable to HSBC Life, and HSBC Life will provide the Bank with commission and performance bonus as remuneration for distribution of the Series. The existing staff remuneration policy on sales offered by the Bank takes into account various aspects of the staff performance instead of focusing solely on the sales amount.

In respect of an eligible dispute (as defined in the Terms of Reference of the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Bank and customers out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the above insurance product should be resolved between the Bank and the customer directly.

Customers are subject to HSBC Life's credit risk because all customer premiums paid become part of HSBC Life's assets. Customers do not have any rights or ownership over any of HSBC Life's assets. Customers can only claim against HSBC Life under all circumstances.

Risk Disclosure of Investment Fund

• Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.



The risks for funds which are index funds include but not limited to:

• Tracking error risk: There can be no assurance that the performance of the relevant fund will be identical to the performance of the relevant index. Factors such as the fees and expenses borne by the relevant fund, the time differences associated with portfolio re-balancing, the prices at which the constituent stocks of the relevant index are acquired or disposed by the relevant fund, the market condition at the relevant time of acquisition or disposal, the index-tracking strategies or financial derivative instruments used will affect the performance of such fund relative to the relevant index.
• Passive investment risk: Fund manager does not have any discretion to select stocks individually or to take defensive positions in declining markets or changes in the composition of the index. Hence, any fall in the relevant index will result in corresponding fall in the value of the relevant fund. The composition of the relevant index may change and stocks currently comprising the relevant index may subsequently be delisted. Other stocks may also be added subsequently to become constituent stocks of the relevant index.
• Concentration risk: The relevant fund may be concentrated in a single or particular sector(s)or single country / region. The performance of the relevant fund could depend substantially on the performance of the relevant single or particular sector(s) / market(s) and the relevant fund is likely to be more volatile than a broad-based fund as it is more susceptible to adverse conditions in the relevant single or particular sector(s) / market (s). In seeking to reflect the weightings of constituent stocks of the relevant index, investments of the relevant fund may be concentrated in a single constituent stock or several constituent stocks. The performance of the relevant index and the fund may be significantly affected by the price fluctuation of one or several of the constituent stocks of the relevant index.



The risks for funds which are bond funds, including but not limited to the credit / default risks of the issuers of the bonds in which the bond funds invest, interest rate risk and liquidity risk etc.

Risk Disclosure of Equity Linked Investments (""ELIs"")

• Equity Linked Investments (""ELIs"") involve derivatives. You should not only base on this material alone to make any investment decisions. The investment decision is yours and you should not invest in ELIs unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.
• ELIs are considered as a complex product and you should exercise caution in relation to ELIs. The market value of the ELIs may fluctuate and you may sustain a total loss of their investment. You should therefore ensure that you read and understand the nature of the ELIs and the relevant offering documents of the ELIs (including the full text of the risk factors therein) and, where necessary, seek independent professional advice, before making any investment decisions.
• Liquidity risk - ELIs are designed to be held to its maturity. You may not be able to sell your investment in the ELIs before maturity. If you try to sell the ELIs before maturity, the amount you receive may be substantially less than the investment amount.
• Credit risk of the ELI issuer - ELIs constitute general unsecured and unsubordinated contractual obligations of the issuer. When you buy ELIs, you will be relying on the creditworthiness of the ELI issuer and of no other person. You have no rights under the terms and conditions of ELIs against any issuer of any linked stock. If the relevant ELI issuer becomes insolvent or default on its obligations under the ELIs, in the worst case scenario, you could lose substantial part or all of the capital invested. ELIs may be terminated early by the Issuer.
• Some ELIs are partially capital protected at maturity provided that you hold the ELIs until maturity and the ELIs are not otherwise early terminated.
• Investing in ELIs is not the same as investing in the linked reference asset(s) directly.
• Not covered by the Investor Compensation Fund - ELIs are not traded on any markets operated by Hong Kong Exchanges and Clearing Limited or any other stock exchanges. There may not be an active or liquid secondary market.
• The above is not an exhaustive list of risk factors. For details, please refer to the offering documents.

Risk Disclosure of Structured Notes

• Structured notes involve derivatives. You should not only base on this material alone to make any investment decisions. The investment decision is yours and you should not invest in the product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives and you fully understand and are willing to assume the risks associated with it.
• Structured notes are considered as a complex product and you should exercise caution in relation to Structured note. The market value of the structured notes may fluctuate and investors may sustain a total loss of their investment. You should therefore ensure that you read and understand the nature of structured notes and the relevant offering documents of the structured notes (including the full text of the risk factors therein) and, where necessary, seek independent professional advice, before making any investment decisions.
• Credit risk of the Issuer - structured notes constitute general unsecured and unsubordinated contractual obligations of the Issuer. When you buy structured notes, you will be relying on the creditworthiness of the Issuer and of no other person. You have no rights under the terms and conditions of the structured notes against any issuer of any linked underlying(s). If the Issuer becomes insolvent or default on its obligations under the product, in the worst case scenario, you could lose substantial part or all of the capital invested. The structured notes may be terminated early by the issuer.
• Some structured notes are 100% capital protected at maturity provided that it is not otherwise early terminated by the Issuer
• Investing in structured notes are not the same as investing in the linked reference asset(s) directly.
• The structured notes are not normal time deposits, and they are not protected by the Deposit Protection Scheme in Hong Kong.
• Not covered by the Investor Compensation Fund – structured notes are not traded on any markets operated by Hong Kong Exchanges and Clearing Limited or any other stock exchanges. There may not be an active or liquid secondary market.
• The above is not an exhaustive list of risk factors. For details, please refer to the offering documents.

Important Risk Warning of Bond and Certificate of Deposit Product

• Bonds and Certificates of Deposit (CDs) are investment products. The investment decision is yours but you should not invest in a bond / CD unless the intermediary who sells it to you has explained to you that the bond / CD is suitable to you having regard to your financial situation, investment experience and investment objectives. Your intermediary is under a duty to assure that you understand the nature and risks of this product, and that you have sufficient net worth to be able to assume the risks and bear the potential losses of trading in this product.
• Bonds are not deposits and should not be treated as substitute for conventional time deposits.
• Certificate of Deposit is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
• Investors who purchase bonds / CDs are exposed to the credit risk of the issuer and guarantor (if any) of the bonds / CDs. There is no assurance of protection against a default by the issuer / guarantor in respect of the repayment obligations. In the worst-case scenario, any failure by the issuer and the guarantor (if any) to perform their respective obligations under the bonds / CDs when due may result in a total loss of all of your investment.
• Renminbi (RMB) is not a freely convertible currency. As such, investors trading bonds and / or CDs denominated in RMB are subject to additional risks (such as currency risk).
• The above is not an exhaustive list of risk factors. Please refer to the section on “Risk Factors” in the relevant “Bond / Certificate of Deposit Trading Services” Factsheet to understand other risk factors applicable to bonds and CDs.
• The information displayed does not constitute nor is it intended to be construed as any professional advice, offer, solicitation or recommendation to deal in Bonds / CDs. Investors should be aware that all investments involve risks (including the possibility of loss of the capital invested). The prices of Bonds and CDs may go up as well as down and past performance is not indicative of future performance. Investors should not only base on this information alone to make investment decisions, and should carefully consider whether an investment is suitable for them in view of their own investment objectives, investment experience, investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should read the relevant product offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions. Investors should obtain independent professional advice if they have concerns about their investment.
• No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any general financial and market information, news services and market analysis, projections and / or opinions (“Market Information”) provided above and the basis upon which any such Market Information have been made, and no liability or responsibility is accepted by the Bank in relation to the use of or reliance on any such Market Information whatsoever provided in the webinar.
• Investors must make their own assessment of the relevance, accuracy and adequacy of the information provided and make such independent research / investigations as they may consider necessary or appropriate for the purpose of such assessment. The Bank does not make any representation or recommendation or assessment as to whether or not any of the investment(s) mentioned are suitable or applicable to any persons and thus shall not be held responsible in this regard.

Risk Disclosure of “MaxiInterest” Investment Deposit

• “MaxiInterest” Investment Deposit (“MXI”) is a structured product involving derivatives. You should not only base on this material alone to make any investment decisions. The investment decision is yours and you should not invest in MXI unless the intermediary who sells it to you has explained to you that MXI is suitable for you having regard to your financial situation, investment experience and investment objectives and you fully understand and are willing to assume the risks associated with it. You should therefore ensure that you read and understand the nature of the MXI and the relevant offering documents of the MXI (including the full text of the risk factors therein), where necessary, seek independent professional advice, before making any investment decisions
• MXI is embedded with FX options. Option transactions involve risks, especially when selling an option. Although the premium received from selling an option is fixed, you may sustain a loss well in excess of such premium amount, and the loss could be substantial.
• You should note that MXI is not normal time deposit and thus should not be considered as normal time deposit or its alternative. It is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
• Earnings on MXI are limited to the nominal interest payable and it is only payable upon maturity. As the principal and the earning will be paid in the Deposit Currency or the Linked Currency, whichever has depreciated against the other, investors will have to bear the potential losses due to currency depreciation, which may be substantial. If MXI is withdrawn before maturity, investors will also have to bear the costs involved. Such losses and costs may reduce the earnings and the principal amount of MXI.
• You will be relying on the Bank’s (as the issuer) creditworthiness. MXI is not secured by any collateral. If the Bank becomes insolvent or default on its obligations under MXI, in the worst case scenario, you could suffer a total loss of your investment amount.
• MXI is not listed on any stock exchange and is not covered by the Investor Compensation Fund.
• Investing in MXI is not the same as buying the linked currency directly.
• Renminbi (RMB) is subject to foreign exchange control by the PRC government and thus investors investing in the MXI involving RMB are subject to the currency risk of RMB.
• Certain Terms and Conditions (including some of the key dates) of MXI can be adjusted by the Bank in certain circumstances. The MXI may be terminated early by the Bank. This might have a negative impact on the product’s return.

Risk Disclosure of Currency-Linked Capital Protected Investment Deposit

• Currency-Linked Capital Protected Investment Deposit (“CPI”) is a structured product involving derivatives. You should not only base on this material alone to make any investment decisions. The investment decision is yours and you should not invest in the CPI unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives and you fully understand and are willing to assume the risks associated with it. You should therefore ensure that you read and understand the nature of the CPI and the relevant offering documents of the CPI (including the full text of the risk factors therein) and, where necessary, seek independent professional advice, before making any investment decisions.
• CPI is embedded with FX options. Option transactions involve risks, even when buying an option. The option’s value might become worthless if the market moves against your expectation.
• You should note that CPI is not a normal time deposit and thus should not be considered as normal time deposit or its alternative. It is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.
• You should understand that the Principal of the CPI is protected only when it is held to maturity and you will be relying on the Bank’s (as the issuer) creditworthiness. CPI is not secured by any collateral. If the Bank becomes insolvent or default on its obligations under the CPI, in the worst case scenario, you could suffer a total loss of your investment amount.
• CPI is not listed on any stock exchange and is not covered by the Investor Compensation Fund.
• Investing in CPI is not the same as buying the Underlying Currency Pair directly.
• Renminbi (RMB) is subject to foreign exchange control by the PRC government and thus investors investing in the CPI involving RMB are subject to the currency risk of RMB.
• Certain Terms and Conditions (including some of the key dates) of CPI can be adjusted by the Bank. The CPI may be terminated early by the Bank. This might have a negative impact on the product’s Return / Coupon (if any).

Risk Disclosure of FX2 - FX and Precious Metal Trading Services

• The risk of loss in foreign exchange and precious metal trading can be substantial. You may sustain losses in excess of your initial collateral. Under certain market conditions, you may find it difficult or impossible to liquidate a position of outstanding FX2 Trading Contracts. Placing contingent orders, such as ""stop-loss"" or ""stop-limit"" orders, will not necessarily limit your loss at the designated price. In extreme circumstances whereby the market moves significantly against your positions, you may be required to make additional deposits or interest payments within a short period of time to maintain your positions. If you fail to provide the required deposits or interest payments immediately, your positions under all outstanding FX2 Trading Contracts may be closed out without prior notice. You may be liable for any resulting deficit in your account. You should therefore carefully consider if foreign exchange and precious metal trading is suitable for you in light of your own financial position and investment objectives.
• Renminbi (""RMB"") is subject to foreign exchange control by the PRC government. If your FX2 Trading Contract involves offshore RMB, you will be subject to foreign control and currency risks of RMB.
• Trading on an electronic trading system may differ from trading on other trading systems or platforms. You will be exposed to risks associated with the system including the failure of hardware and software, which could result in your order not being executed according to your instructions or at all.
• Investment involves risks. The above risk disclosure cannot disclose all the risks involved. You should read and understand all the relevant documents and risk disclosure (in particular, the Risk Disclosure Statement contained in the relevant application form) before making any investment decision.
• If you are uncertain of or do not understand the nature of and the risks involved in leveraged foreign exchange and precious metal trading, you should seek independent professional advice.

Risk Disclosure of FX and Precious Metal Margin Trading Services

• The risk of loss in leveraged foreign exchange and precious metal trading can be substantial. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as ""stop-loss"" or ""stop-limit"" orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your Account. You should therefore carefully consider whether FX and precious metal margin trading is suitable for you in light of your own financial position and investment objectives.
• Renminbi (RMB) is subject to foreign exchange control by the PRC government. If your Margin Trading Contract involves Offshore Renminbi, you will be subject to foreign control and currency risk of RMB.
• Trading on an electronic trading system may differ from trading on other trading systems or platforms. You will be exposed to risks associated with the system including the failure of hardware and software, which could result in your order not being executed according to your instructions or at all.
• Investment involves risks. The above risk disclosure cannot disclose all the risks involved. You should read and understand all the relevant documents and risk disclosure (in particular, the Risk Disclosure Statement contained in the relevant application form) before making any investment decision.
• If you are uncertain of or do not understand the nature of and the risks involved in leveraged foreign exchange and precious metal trading, you should seek independent professional advice.

Risk Disclosure Statement of Investment Financing Service

PLEASE READ THIS RISK DISCLOSURE STATEMENT CAREFULLY AND CONSULT YOUR OWN LEGAL ADVISER AND/OR OTHER PROFESSIONAL CONSULTANTS AS YOU CONSIDER APPROPRIATE BEFORE YOU DECIDE TO APPLY FOR INVESTMENT FINANCING SERVICE.




Below are the key risks associated with Investment Financing Service (the “Facility”) which are not exhaustive. The Facility is provided by Hang Seng Bank Limited (the “Bank”).

1. Risk of Trading in Investment Funds and other Investment Products
   You should note that all investments involve risks (including the possibility of loss of the capital invested). Prices of units of investment funds or other investment products may go up as well as down and information on past performance is not indicative of future performance. It is aslikely that losses will be incurred rather than profit made as a result of buying and selling investment products. You should read and understand the relevant product's offering documents (including the full text of the risk factors stated therein) in detail before making any investment decision.
2. Risk of Using Leverage
   The prices of investment funds and other investment products fluctuate, sometimes dramatically. Financing transactions in investment products by collateral using leverage involves significant risk, and losses may exceed the value of your collateral and may affect your ability to repay the Facility. The higher your leverage is, the bigger your losses can be in adverse market conditions. Contingent orders such as “stop-loss” or “stop-limit” orders may not necessarily limit losses as market conditions may make it impossible to execute contingent orders. You may be required at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated without your consent. Force liquidation may result in losses and you will remain liable for any resulting deficit in your account and interest charged on your account. You should therefore carefully consider whether such a financing arrangement is suitable for you in light of your own financial position and investment objectives.
3. Risk associated with Margin Requirements
   The Facility is a financing arrangement with margin requirements. The Available Limit of the Facility is determined by the aggregate of the market value of the investment products charged by you in favour of Hang Seng as collateral from time to time (“Charged Securities”) multiplied by the applicable Loan Ratio and capped at the Ceiling Limit. The Loan Ratio and the Ceiling Limit are set and may be varied by Hang Seng from time to time. If unauthorised overdraft occurs (i.e. when the Loan Amount exceeds the Available Limit) for any reasons, including but not limited to decrease in value of the Charged Securities, change of the Loan Ratio ortermination of the Facility, interest on the unauthorised overdraft amount will be charged at the unauthorised overdraft interest rate(s) and you undertake to forthwith repay the unauthorised overdraft amount in cash or dispose of your investments and apply the proceeds towards repayment of the unauthorised overdraft amount.
   
   If you do not act promptly upon receiving a margin call notice and do not take the required actions within a prescribed period, Hang Seng may exercise various rights, including the right to liquidate part or all of the Charged Securities, and the right to set- off any cash held in your account at Hang Seng towards any amount owing by you to Hang Seng under the Facility, in each case at any time and in any way Hang Seng considers appropriate without demand or notice to you (even if the market value of the Charged Securities drops drastically due to adverse market conditions). You will bear all losses and remain liable for any resulting deficit in your account and interest charged on your account. Commissions, fees and other charges applicable to the Facility may also increase your loss. You should therefore carefully consider whether such a financing arrangement is suitable in light of your own financial position and investment objectives.
4. Rate Risk
   The interest rate applicable to the Facility is based on Hong Kong Dollar Prime Lending Rate as quoted by Hang Seng from time to time (“HKD Prime”) plus or minus a pre-determined rate set by Hang Seng. The interest rate may be subject to change over time. When HKD Prime rate increases, the interest payment under the Facility will increase.
5. Currency Risk
   If any of the Charged Securities is denominated in a currency different from the Facility (which is denominated in Hong Kong dollar), a conversion of one currency into another currency is required and such conversion shall be calculated at the rate determined by Hang Seng to be prevailing in the relevant foreign exchange market at the relevant time. The value of the Charged Securities and the Available Limit of the Facility may change due to fluctuations in foreign exchange rate.
6. Liquidity Risk
   If Hang Seng exercises its right to liquidate the Charged Securities under adverse market conditions, it may be difficult to sell the Charged Securities and the selling price may also be affected when there is no or little liquidity for the Charged Securities in the market. You will be liable for the shortfall if the amount of sales proceeds of the Charged Securities is not sufficient to pay off the amount owing by you to Hang Seng under the Facility.
7. Risk of Providing an Authority to Hold Mail or to Direct Mail to Third Parties
   If you provide Hang Seng with an authority to hold mail or to direct mail to third parties, it is important for you to promptly collect in person all contract notes and statements of your accounts and review them in detail to ensure that any anomalies or mistakes can be detected in a timely fashion.
8. Risk of Client Assets Received or Held Outside Hong Kong Special Administrative Region
   Client assets received or held by Hang Seng outside the Hong Kong Special Administrative Region are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap.571, Laws of Hong Kong) and the rules made under it. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in the Hong Kong Special Administrative Region.

Risk Disclosure of Securities Investment

Investors should note that investment involves risks. 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.




Investors should note that investing in different Renminbi-denominated securities and products involves different risks (including but are not limited to currency risk, exchange rate risk, credit risk of issuer / counterparty, interest rate risk, liquidity risk (where appropriate)). The key risks of investing in securities via the Stock Connect Northbound Trading include:

• Once the respective quota is used up, trading will be affected or will be suspended.
• Stock Connect Northbound Trading will only operate on days when both markets are open for trading. Investors should take note of the days the Stock Connect Northbound Trading is open for business and decide according to their own risk tolerance whether or not to take on the risk of price fluctuations in securities during the time when Stock Connect Northbound Trading is not trading.
• When a security is recalled from the scope of eligible securities for trading via Stock Connect Northbound Trading, that security can only be sold but NOT bought.
• Investors will be exposed to currency risk if conversion of the local currency into RMB is required.



Foreign securities carry additional risks not generally associated with securities in the domestic market. The value or income (if any) of foreign securities may be more volatile and could be adversely affected by changes in many factors. Client assets received or held by the licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap.571) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.




Investors should note that ETF is different from a typical unit trust and many factors will affect its performance. In general, the market price per ETF unit may be significantly higher or lower than its net asset value per unit due to market demand and supply, liquidity, and scale of trading spread in the secondary market and will fluctuate during the trading day. ETF is different from stocks, investors should read the offering documents of the relevant ETF and understand the features and risks of ETF etc.




Investors should not only base on this material alone to make any investment decision, but should read in detail the relevant risk disclosure statements.




These promotion materials have not been reviewed by the Securities and Futures Commission in Hong Kong (""SFC""). The information contained herein is for general information and reference purposes only
and is not intended to provide professional investment or other advice. It is not intended to form the basis of any investment decision. You should not make any investment decision based solely on the information and services provided herein. Before making any investment decision, you should take into account your own circumstances including but not limited to your financial situation, investment experience and investment objectives, and should understand the nature, terms and risks of the relevant investment product. You should obtain appropriate professional advice where necessary.




These promotion materials are not intended to provide or regard as legal or taxation advice, or investment recommendations.