86Research's team of professionals offer in-depth knowledge of China's TMT and Consumer sectors, extensive industry contacts, and decades of Wall Street experience serving institutional investors.

We provide state-of-art research services to help investors identify extraordinary investment opportunities in China's Internet and Media, eCommerce, Online Travel , Online Entertainment, O2O sectors, Lodging and Education. We also pay special attention to the China operations of global companies, which are increasingly important to their performance.

Our stock picks emphasize companies that demonstrate:

• Solid long-term growth potential
• Positive structural changes in fundamentals
• Dominant market share
• Experienced and trustworthy management
• Reasonable valuation

Our extensive and award-winning experience as former Wall Street sell-side analysts and sales representatives affords us the unique ability to deliver on-the-ground and timely analysis on the China market. Specifically, our services are differentiated from traditional sell-side research by the following:

• Research products featuring "long-term views" and "short-term actionable data points"
• All analysts based in China, with access to senior management of publicly traded companies
• Extensive channel checks with industry professionals and private-company leaders
• A combination of computerized and manual tracking of key operating metrics
• Customized research projects for clients
• Research sales based in New York, California and Shanghai, actively delivering to clients

ETHEREUM-KLASSIKER-EXPLORER

86Research Team is led by C. Ming Zhao, Head of Research. Ming is the founder of 86Research. Prior to 86Research, Ming had over a dozen years of equity research experience in Chinese technology sectors in both A shares and overseas markets. His most recent profession was senior analyst at SIG, covering Chinese ADRs for seven years. Ming also worked for China Eagle Securities and Huaan Fund Management for over three years before moving to the U.S. In his field, Ming was ranked "Best Analysts on the Street (#1, 2010)" by Wall Street Journal and "World's Top Analyst (#2, 2008)" by Financial Times. Ming graduated from University of Pittsburgh (MBA), Shanghai University of Finance and Economics (MS) and Beijing University of Posts and Telecom (BE). Ming is a CFA and FRM holder.

Our institutional sales team is led by Mark Durkin, Head of Sales based in New York City. Before joining 86Research, Mark was a senior institutional sales representative at Caris & Company for one year. Prior to Caris, Mark spent 2005-2010 at SIG in institutional sales; 2002-2005 at Fulcrum Global Partners; and 1997-2002 at Robertson Stephens. Mark has over 25 years of experience in equity research and sales, beginning from Salomon Brothers and J.P. Morgan. Mark graduated from Colorado College (BA).