1.             Risks of applying for securities in an IPO


  • There are various risks  associated  with  applying for  securities in aPublicWheretheIPOis over-subscribed,youmay not be  allotted the quantityofsharesyouappliedfor,oranysharesat all.Whetheryour Applicationisfully  allotted  or  not,you  willhavetheApplicationMonies  locked up during the subscription period. You will also need to pay the interest charges on theSubscription Financing(if any) to the Brokers regardless  of  whether  you  are  allotted anyshares in accordance with the new issued share subscription fee policy of the underwriter or its agent.WheretheIPOis notover-subscribed,barring  unforeseen circumstances,youmayexpect  to  be  allotted  all  of  thesharesyouappliedforandtoincur  thefullcostofsuchallocation.


  • Once the Securities are   listed for  trading, the  price will  fluctuate  and the  value  of the Securities you are allotted may fall rather than rise and may even become worthless.


  • You should read  the Offering Documents prior to making an investment decision and should make sure that the investment decision is based on the public Offering Documents. You should carefully consider if investment in the Public Offer is suitable for your investment goals by reference to your financial position and other conditions before deciding whether to make an Application.


  • Whilst every effort  has  been made  to  ensure the accuracy  of  information and materials displayed on TBSG’s  website and platform, all information in relation to TBSG’s  products  and services, or  any  other information displayed on TBSG’s website and platform which is not contained in the Offering Documents, is for general information  purposes  only and does not  constitute  a solicitation or recommendation to make any investment in the Public Offer.


2.             Financing risks


  • Receiving Bank  defaultrisk:Inan IPO,theReceiving  Bankis responsible  for  collecting  theapplication  money  from  applicants  ortheir  agents  and  intermediaries  and  arrangingtherefundof the  application  money  with respect to  unsuccessful or  partly  successful  In  the  case  of anunsuccessful  application  or  partly successful  application,there  isariskthatthe ReceivingBank oryouragentorintermediarydefaultsbeforetheapplicationmoneyisrefundedtoyou.Inthatcase, the Brokersstill  have  theright  to  demand from you repayment  ofany  loans  associated  with  the PublicOfferassetoutintherelevantloanagreement.


  • Operationalrisk:ifyourapplicationforsecuritiesinaPublicOfferiswhollyorpartlyallocated,and thereisadelaybytheReceivingBankorIssueroranyotherpartyinrefundingtheapplication moneyasaresultofanysystemfailureorinterruptionattributabletoanycauseorcircumstance beyondthe  control of the Brokers,youmaystillberequiredtosatisfyyourobligation(ifany)inrelationtothefundsyouusedfortheApplication


  • Investment and  Market  Risk:You  should evaluate  your  own financial abilities and riskappetiteto determinethe  level  of investmentrisk  that  is  appropriateforyoutoTheoffering of  the Brokers’  SubscriptionFinancingdoesnotconstituteanyrecommendationofthesecuritiesina PublicOffernorassistancetoyouinanyspeculativeactivitiesinthestockmarket.Moreover,you should  be  aware  that  the  priceofthesecuritiesina  PublicOffermay  dropbelowitsinitiallisting priceoncesuchsecuritiesbegintradingonthestockmarket,whichmayresultinyouincurringsubstantiallossesuponsellingthesecurities.





In order to participate in a Public Offer through the brokers, each participating client must represent and warrant that such client meets all of the eligibility criteria and other requirements in the Offering Documents and is not disqualified from making an Application by any term or condition of this Disclaimer, or any rule or requirement made by the Securities and Futures Commission and the Registrar of Companies in Hong Kong, or any rule or requirement made by the Monetary Authority of Singapore, the Accounting and Corporate Regulatory AuthorityofSingapore, or any law of any applicable jurisdiction.


  1. You hereby authorize the Brokers to act on your behalf to apply for securities in the Public Offer in which you are submitting an Application.


  1. You confirm that you have read the Offering Documents in respect of the Public Offer and shall comply with the terms and conditions set out therein.


  1. You further confirm that you are qualified applicant(s) and the Brokers may rely on your declaration in this regard without further assessing your eligibility.


  1. You warrant and undertake that this Application is the only application made for your benefit in respect of the Public Offer in which you are submitting this Application and that you shall make no other application in that issue.


  1. You understand and agree that the Brokers has the discretion to accept or reject your subscription/placement Application if you are unable to pay the required Application Monies by the deadline date and time prescribed by the Brokers.


  1. By electing to participate directly or indirectly through the Brokers, you represent that any party through whom you access the eIPO Services that you are under no legal restriction from participating in the Public Offer.





1.             Authorization


  • You agree to authorize and appoint TBSG as your intermediary to submit your application for the Public Offer, either via itself or any other parties.


  • You agree to instruct IBHK (either directly or indirectly) to act as your agent to give electronic application instructions to Hong Kong Securities Clearing Company Limited (“HKSCC) via the Central Clearing and Settlement System (“CCASS”) operated by HKSCC, the Receiving Bank or such other party in connection with the Application, to apply for securities in the Public Offer.


  • Any securities in the Public Offer successfully allotted to you will be issued in the name of HKSCC Nominees Limited (“HKSCC Nominees”) and deposited directly into CCASS for credit to the stock accounts of the Brokers where your shares will be held.


  • Refund of wholly or partially unsuccessful applications will be credited to your designated bank account on the refund date as announced by the Issuer in relation to the Public Offer.The subscription fee charged by IB shall not be refunded whether the application or allocation is successful in accordance with the new issued share subscription fee policy of IB.


  • The Brokers only offers the eIPO Services in jurisdictions where and when they may be lawfully offered. Such products and services are not intended for use by persons located in or resident in jurisdictions which restrict the distribution of such shares.


2.             Terms of access


  • Before you submit an Application, you attest that you have read, understood and agreed to be bound by the terms and conditions set out in this document and the Offering Documents, including all restrictions in respect of the Public Offer set out in the Offering Documents.


  • Before you submit an Application on behalf of yourself or your clients, you attest that you have ensured that yourself or your clients have read, understood and agree to be bound by the terms and conditions set out in this document and the Offering Documents, including all restrictions in respect of the Public Offer set out in the Offering Documents.


  • By completing and submitting an Application, you agree to grant usthe right, at our discretion, to review any records you maintain in relation to the Applications you have made on behalf of yourself or your clients. The records include, but are not limited to, client records (for example, Client Agreements, Proof of Address, and other client IDs), records of any review and verification you have conducted to ensure that the client is eligible to participate in the Public Offer, and any other relevant records. You further warrant to provide all reasonable assistance to us, upon our request, in connection with our exercising of this right.

通过填写和提交申购书,您同意授权我们可以通过自由裁量查阅您为客户所作申请时所保存的任何信息记录。这些记录包括但不限于客户信息(例如,客户协议、地址证明和客户身份证明等) 、您为确保客户有资格参与公开发行而进行的任何审查和验证的记录,以及任何其他相关记录。您进一步保证应我方要求,为我方行使这项权利提供一切合理的协助。

  • By submitting an Application for securities in a Public Offer, you confirm all the following for yourself and on behalf of all of your clients:
  1. You have sufficient opportunity to access and read the Offering Documents and the information disclosed in them and agree to be bound by all applicable terms and conditions contained within;
  2. You have not been prohibited from participation in the Public Offer by the terms of the Offering Documents;
  • You agree to apply for securities in the relevant Public Offer on the terms and conditions and pursuant to the procedures set out in the Offering Documents;
  1. You acknowledge that the eIPO Services and any material contained on the Brokers’ website and/or platform involve no solicitation of the sale of, or recommendation of, or advice on, any product from us and your Application and any related transactions conducted by you through the Brokers’ website and/or platform are conducted on an execution-only basis and based on your own judgment;
  2. You acknowledge and confirm that you comply with the eligibility criteria set out in the DECLARATION a You acknowledge that the Brokers will take your acknowledgement and confirmationat face valueand will not be responsible for any inaccurate, untrue or false information or any information which is supplied under false pretenses.


  1. 您和您的客户有足够机会获得和阅读本次公开发行文件及其披露的信息,并同意受其中所有适用条款和条件的约束。
  2. 您并没有因发行文件的条款而被禁止参与本次公开发行。
  • 您和您的客户同意根据发行文件中规定的程序,在本次公开发行中按照相关条款和条件进行申请。
  1. 您和您的客户均理解并同意在本券商官网中任何关于eIPO的服务条款和相关文件中均不包含任何教唆售卖、推荐、建议购买我们的任何产品的内容,您的申请以及通过我们的平台由您进行的任何相关交易均是您以及您的客户自己作出的判断。
  2. 您和您的客户承认并确认您的客户已经承诺并保证他们符合上述申购资格部分所列的资格标准。您知晓本券商将仅对接受您的承诺和保证进行形式审查,对任何不准确、不真实或虚假的信息或任何虚假的伪装下提供的信息概不负责。
  • You undertake to immediately notify the Brokersshould you become ineligible to subscribe to the IPO.


  • You warrant and undertake that at all times you have the authorizations and consents (if required) necessary for the transfer, use, control or processing of information transmitted to the Brokers (viathe Brokers’ platform or otherwise) in connection with or pursuant to an Application. You hereby indemnify the Brokersand any related parties against any damages, losses, costs or liabilities arising out of or in connection with any claims against the Brokersand any related parties arising from the transfer, use, control or processing of your information for the purpose of the Brokersproviding you with the eIPO Services.


  • You covenant and undertake, on behalf of yourself, not to submit duplicate or multiple Applications in connection with the same Public Offer.


  • The information contained on the Brokers’ website and/or platform is not directed at, and is not intended for distribution to or use by, any person located or resident in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject the Brokers to any registration requirement within that jurisdiction or country. You should remind yourself about and observe any such restrictions before accessing and using the eIPO Service.


  • Your access to and use of the eIPO Service is governed by the terms and conditions of your Agreement withthe Brokers, the issuer’s terms and conditions as stated in the relevant Public Offer, and your warranties and representations when submitting the online subscription application to the Brokers.


  • The eIPO Service does not constitute any solicitation or recommendation for you to subscribe for any Hong Kong Public Offer shares or provide any investment advice to leverage your subscription through the Brokers’ Subscription Financing.


  • In using the eIPO Service, you acknowledge that you assume the risks of conducting transactions over the Internet (e.g. that the transactions may be subject to interruption, transmission blackout, delayed transmission due to Internet traffic or incorrect data transmission due to the public nature of the Internet).


  • No Applications or Application Monies can be accepted once the Public Offer closes, or where the Brokers has any reason to believe that the electronic public offer documents or processes for collection and handling of applications have been tampered with, or (where applicable), duplicate or multiple applications have been made to the issuer.


  • In case you need technical support or have enquiries in relation to the operation of the eIPO Service, please call our customer service.


3.             Downloading the offering documents


  • You may access the Offering Documents from the Brokers’ website and/or platformdesignated for the relevant IPO. You understand and accept that prior consent may not have been obtained from the Issuer for this hyperlink to the Offering Documents.


  • Hard copies of the Offering Documents can be obtained from the Receiving Banks. The details of the Receiving Banks may be set out in the announcement published by the Issuer or in the part in respect of the Application arrangements in the Offering Documents.


  • Any offer or invitation to acquire the securities in a Public Offer is made solely by means of the Offering Documents. Any subscription for such securities should be made solely on the basis of the information contained in the Offering Documents. Any content, information, or data provided by us on the Brokers’ platform, which is not contained in the Offering Documents, does not form part of an offer or invitation to acquire such securities, and should not be relied upon by you.


4.             Procedures for applying for the securities


  • Before you decide whether to make an Application for the securities in the relevant Public Offer, you should read the Offering Documents carefully for important information about the Issuer.


  • Applications for securities in the relevant Public Offer will be made by the designated broker acting in its capacity as intermediary and agent.


  • If you are making an Application for securities in the relevant Public Offer to thedesignated broker via your intermediary or introducing broker, all of the terms and conditions and other provisions of this document shall apply and shall be supplemented by any additional terms and conditions placed on you by such intermediary.


  • You may only instruct theBrokersto apply for securities in the relevant Public Offer on your behalf through the Brokers’ website and/or platform if you satisfy all of the eligibility criteria set out in the Offering Documents and in this St






  1. The contents of  the brokers’ platform including website and App, and  any information  provided  by  the brokers  in  relation to the  IPO, are  not  provided  nor authorized  by  the Issuer or  any  other parties  involved  in the  Public  Offer (other than the  Offering Documents  for  which the  Issuer  takes responsibility), and  is  solely produced  and  maintained by the broker.


  1. The Brokersare not authorized to and  has  not added, amended, deleted  or  in any  way  changed the  contents  or form  of  the information  contained  in the  Offering  Documents, nor are the Brokers authorized   to make  any statement  or recommendation, or  to provide  any  additional information  or comment  concerning the matters  and  information contained  in the Offering  Documents, and  the Brokers make  no  such statement or recommendation by providing the eIPO 


  1. In relation to   your  use  of   the Broker’s  products  and   services or  your reliance  on   the  contents  of the Broker’s  website and/or platform or  any data downloaded  from the Broker’s website and/or platform  or  any information  provided  by the Brokers,  no guarantees, undertakings, warranties  or representations (whether express or implied) are made or given in any respects, including the following:


  1. The accuracy  of  any statementmadeintheOfferingDocuments;


  1. The advisability  of  participationinthePublicOffer;


  • The receipt and  processing  of  the Application  details  and Application Moniesprovidedby you;


  1. Theallotmentof IPO  securitiesappliedforpursuanttoyourApplication;and


  1. Thecollection,storageanddisclosureofpersonaldataprovidedbyyouduringthe


  1. Unless otherwise specified  in  the Offering  Documents, any  matter arising  from  or in  connection with  your use  of  the Brokers’ platforms will  not  form the  basis  of any  relationship (including contractual or fiduciary) between  you  and  the Issuer, any  other  parties involved in  the  Public Offer  or their respective directors, officers, partners, employees, agents or advisers, and neither the Issuer, nor any other parties involved  in  the Public  Offer, nor their respective  directors, officers, employees, agents or advisers  is  liable for  any actions, proceedings  or claims  which  may  be  brought by  you  or against you, and  for  losses or damages  of   any  kind  which you  may  incur  or  suffer, in connection with your use of the Brokers’ website and/or platform, your reliance on the contents of the  Brokers’ website and/or platform or any information or data downloaded from  the  Brokers’ website and/or platform (other than  the Offering  Documents, for which the Issuer takes responsibility).


Part E:Language


  1. This Statement shall be made in both English and Chinese. In case of any discrepanciesbetween the Chinese version and English version, the English version shall prevail.





Forthe purpose of  this RISK DISCLOSURE, DISCLAIMERS AND STATEMENTS FOR HONG KONG IPO,each  of  these  terms  have  the  stated meaning:


  1. Applicationmeans  the  form(s) available  on  the  the  Broker’s Website or/and  platform which  are  used  tocollect  information  and  instructions  from  Clients during an initial public offeringor  a  follow-on public  offering,in  connection  with  and  pursuant to the  Offering 


  1. Application Monies means  the  monies  paid  by the client in  respect of  and in  considerationforanApplicationforsecuritiesinanInitialPublicApplication monies consist of subscription fee (charged by IB), the interest of subscription financing (if any) and the fee charged by HK authorities (including SFC fee, HKEX fee and broker commission).


  1. Clients means  any  person  electing  to  use the  Broker’s   eIPO  Services,directly  or  indirectly, including through  any intermediary or on behalf of  any  other


  1. Brokers means Interactive Brokers LLC (“IBLLC”), Interactive Brokers Hong Kong Limited(“IBHK”),and their designated introducing broker.


  1. Intermediary means TIGER BROKERS (SINGAPORE) PTE. LTD.(“TBSG”) which is authorized by client to launch an application for the Initial Public Offering and handle the issues in respect of the Initial Public Offering as an Introducing Broker of IBLLC and IBHK.


  1. eIPO Services means  theservices  provided  by the  Broker  and   its  affiliate(s)(collectively,“the  Brokers”)to   eligible   clients,which  includes,providing accessto   thePublic  Offer,collecting  information  and  instructions from Clients  and submitting  theApplication  to  participate  in  the  PublicOfferviathe  Broker’s Website and/or platform  .


  1. Broker’s Website     means   the   internet site  established,operated  and  maintained by  the Brokeror/and its designated third parties, or  such applicable  Computer to  Computer  Interface  or  Application  ProgrammingInterface  designed to  provide  the  eIPO Services  in  relation to a Public Offer ofsecurities  by  an 


  1. BrokerSubscriptionFinancing  means  the  financing  provided by the  Broker in  connectionwithand forthepurposeofmakinganApplication,subjecttothetermsandconditionssetoutthis


  1. Issuer means  any  company  or  other  legal  person whose  equity  or debt securitiesarethe  subject  of  an application for listing on  GEM or   the  Main  Board  of  theHongKong  Stock Exchange,or  some  or  all  of  whose  equity  ordebtsecuritiesarealready  listed  on GEM  orthe Main  Board  oftheHongKongStock


  1. OfferingDocuments  means  the prospectus and(ifapplicable)  any  term  sheetsrelatingto the  Public  Offer  of securities by  theIssuer,supplemental  prospectus  or  other  documents  registered  or  filed  by  the  Issuer  and/or  its  advisers  with  theRegistrarofCompaniesin HongKonginconnectionwiththePublic


  1. Public Offer means  an offer to  apply  for the  debt  or equity  securities  during an  initial public offering (“IPO”) or a follow-on public offering, which is open to the public (applicants).


  1. Receiving Bankmeans  a designated  bank  that  has    entered   into a  contractual arrangement with  the Issuer  to receive  applications   for securities  in  respect of  the Issuers Public Offering.


  1. Securities means  securities sold  pursuant  to  a  Public Offer.