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the part of Deutsche Bank AG and / or its affiliates (13B'). These ideas are for the consideration of the intended recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFICI), who understand the strategy. cha
l Markets Research analyst, Jun Ma). China may be re-rating for longer-term stability as an 'emerged' market, but that our DB GEM Equity Strategist, Jean-Paul Smith, and his team may have the downside risk right in the nearer-term. EFTA00633441 Bulls point to estimates that the AUM in the trust sector only to
—0.30% of USD notional. Spot breakeven 6.318 USDCNH spot = 6.029, 1y ATMF = 6.093 hidieann keels on le, Nut-tied to markei mo‘cmcni. Satin:0: 1AS KCP London, 1.'2814. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 123292 CONFIDENTIAL SDNY_GM_00269476 EFTA01461321
Markets Research analyst, Jun Ma). China may be re-rating for longer-term stability as an 'emerged' market, but that our DB GEM Equity Strategist, Jean-Paul Smith, and his team may have the downside risk right in the nearer-term. Bulls point to estimates that the AUM in the trust sector only totalling Rmb 10.1
he part of Deutsche Bank AG and / or its affiliates ("DB"). These ideas are for the consideration of the intended recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFID), who understand the strategy, cha
Markets Research analyst, Jun Ma). China may be re-rating for longer-term stability as an 'emerged' market, but that our DB GEM Equity Strategist, Jean-Paul Smith, and his team may have the downside risk right in the nearer-term. Bulls point to estimates that the AUM in the trust sector only totalling Rmb 10
sche Bank AG and / or its affiliates ("DB"). These ideas are for the consideration of the intended EFTA01479438 recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFID), who understand the strategy, cha
Markets Research analyst, Jun Ma). China may be re-rating for longer-term stability as an 'emerged' market, but that our DB GEM Equity Strategist, Jean-Paul Smith, and his team may have the downside risk right in the nearer-term. Bulls point to estimates that the AUM in the trust sector only totalling Rmb 10
Entities connected to both KCP London and Jean-Paul Smith

Jeffrey Epstein
PERSON
Tazia Smith
PERSON
Paul Morris
PERSON
Nav Gupta
PERSON
Bloomberg L.P.
ORGANIZATIONVanshree Verma
PERSONRenmimbi
PERSONJun Ma
PERSONGlobal Markets Research
ORGANIZATION
Shanghai
LOCATIONKCP Capital Markets
ORGANIZATION