Naixin (Chloe) ZHANG

▪ Pre-IPO Valuation & Modeling: Built trading comps and DCF models for 3+ HKEX IPO mandates across TMT and healthcare industry; drove operational KPI analysis to support valuation defense to sponsors. ▪ Due Diligence & HKEX Filing: Executed revenue cycle walkthroughs for tech-focused IPOs and drafted core A1 prospectus sections; identified material control gaps, assisted in remediation, and ensured Listing Rules compliance. ▪ ECM Intelligence: Tracked real-time IPO/FO windows and southbound capital flows; synthesized institutional appetite data to optimize pricing strategy and bookbuilding execution.

▪ Report Writing: Authored 6+ thematic reports on fixed income, equities, and risk management, including pioneering research on sustainable insurance investment and AI-ESG integration. ▪ Policy Research: Tracked and analyzed 15+ global and domestic regulations including EU SFDR and CBAM, green sovereign bonds, fund management rules, and ESG disclosure guidelines. ▪ Research Support: Supported asset managers (e.g., EFund) on green bond indices, stewardship frameworks, and ESG disclosure; Assisted corporate clients in green revenue certification and governance evaluation; Researched emerging areas including green electricity, rating methodologies, and carbon market policies.

▪ Pitchbook & Deal Origination: Drafted comprehensive bidding materials and pitchbooks for ¥2B+ corporate bond issuances; analyzed macroeconomic conditions and client specifications to optimize pricing strategies. ▪ Transaction Execution: Facilitated the successful issuance of ¥1.3B+ in medium-term notes and corporate bonds; coordinated cross-functional workstreams to ensure timely, high-quality deal execution. ▪ Fulfilled fiduciary duties: Risk Assessment & Compliance: Conducted 10+ comprehensive risk assessments utilizing internal frameworks to identify potential underwriting risks; updated and audited 50+ issuer records for 1H 2024 to ensure strict regulatory compliance.

▪ Engaged in foundational research: Researched hospitality, dining, and duty-free sectors, covering macroeconomic policies, company fundamentals, and new strategies; participated in drafting in-depth reports on companies like Tianmu Lake (SSE: 603136) and Jinjiang Hotel (600754.SH). ▪ Maintained database: Updated and maintained data templates, including post-pandemic airport travel conditions and high-frequency travel data. ▪ Captured the trend of target companies: Extracted operation data from quarterly financial reports and new strategies, and organized meeting documents with officials in consumption bureau.

▪ Conducted walkthrough tests: Participated in the walkthrough testing at Hangzhou Zhongyi Industrial Co., Ltd., processing over 20,000 transactions involving purchases, sales, and production as part of external audit procedures. ▪ Conducted due diligence: Reviewed the company's substantial bank transactions from 2021 to 2023 to assess compliance and evaluate potential significant risks.