| Private Equity and Venture Capital constitute the most important business of Youngy Group. Our performance on these investments have been glorious.
In 1995, we invested 20 million yuan in BYD company, which got listed later in HK stock market. Today the BYD shares worth aggregately more than RMB160 billion. Our investment have accumulated to RMB 30 billion, which represents a return of 1500 times. The BYD company still grows fast today; we believe this investment will contribute greater return in the future. This successful investment is now generally regarded as a textbook example for private equity investment. We have just lauched a strategic private equity investment plan of RMB1.5 billion to further capitalize on our great advantage in the aspect of capital sources, financial profession, management know-how, risk control and investment management expertise. As of today, we have completed several major investments, including the investment in Anhua Agricultural Insurance Co. Ltd. (RMB 150 million), Luxiang Co. Ltd., and Huashi Technology Co. Ltd.