Bing Zhang Email and Phone Number

• Conduct and lead sell-side equity research on Software, Internet and Computer Services industries of A share market in China, including: grow research coverage on companies within the industry, authorize annual or semi-annual investment strategy, write in-depth reports and commentaries, present investment ideas to buy-side analysts and fund managers. Manage junior analysts and interns, coordinate research tasks within the group, and perform editorial tasks for team members’ reports.• Lead in-depth research, onsite visit at listed companies, and connect with industry experts in various vertical markets within TMT industries in order to do thorough industrial research, verify industry trend and uncover the true competitive landscape; Assist the company’s investment banking division with expert opinion, research, recommendation, and IPO pricing.• Search constantly for stocks of outstanding long term potential with near term catalysts, and organize seminars and industrial expert dinner meetings around key market-chasing investment themes.• Research experience with Bloomberg terminal, WIND terminal, CEIC, Thomson One Analytics, CapitalIQ etc.

• Conducted and led equity research related activities on TMT industries, including research coverage, investment strategy, stock selection, and editorial tasks. TMT industries generally refers to the industries of Computer Hardware, Software and Application Services, Media and Advertising, Cable TV, Internet & eCommerce, Telecommunication Carriers, Telecommunication Equipment, and Semiconductors. • Led in-depth research, onsite visit at listed companies, and invited industry experts in order to perfect industrial researches.• Initiated and managed, as the division point person, stock pools of various styles and constraints tailored for the company's asset management, prop trading and brokerage divisions; Sat on the investment committee to review and decide on entering and exiting stocks. • Managed and conducted quantitative research on stock selection models, index future strategies, risk metrics, and other stock scoring systems. Utilized statistical/time series analysis to search and refine factors of forecasting capabilities, improved stock-ranking models for better return spread, and converted fundamental strategies into quant driven ones. • Managed the development of the division's system infrastructure: data repository, report generating engine, evaluation models, and financial statements automation.• Research experience with Bloomberg terminal, WIND terminal, VSAT terminal etc.

Covered stocks and built stock pools with fundamental equity research; Managed research teams and managed the editorial and review process of research publications; Improved various stock selection/ranking models with original research and improved methodology; Developed new fundamental/quantitative stock selection strategies and new ranking models for newsletter publication and for licensing to institutional investors. • Performed in-depth research and strengthened recommendations not only by visiting companies, interviewing experts in the related industries, and digesting news and judging sentiments with the industry experts' assistance, but also, more importantly, by analyzing corporate governance, earning quality, and audit integrity of each company.• Conducted research and statistical/time series analysis to search and refine factors in the areas of fundamental, valuation, market trend, and technical strength that resulted in models of reduced forecast error, improved return spread, and improved Sharpe ratio. (3 mutual funds, $1.5 billion in total, used these models)• Developed new strategies and models with the marketing department, resulting in model licensing agreements of $2 million+ in ETF and SMA, and newly proposed quant driven fund. • Supported fund managers to decide industry weights and allocation, reconstitution and rebalance; produced performance and risk analytics, and performed other portfolio management work; managed 4 junior quantitative analysts.• Research experience with Bloomberg, Thomson One, First Call, Edgar Pro.

Worked for the quantitative equity fund with AUM of $20 billion.• Performed statistical analysis and factor analysis to research factors in the areas of fundamentals, valuation, and behavioral finance.• Developed stock ranking/selection models from the pool of in-house factors and model scores provided by various vendors that provide asset management modeling services.• Calculated factor model weighs according to various schemes; backtested models.• Extracted, organized, and analyzed data from Compustat, IBES, FactSet, etc and scores from model vendors in many areas, such as valuation, reversion, corporate governance, accounting, and risk. • Designed, enhanced, and supported the quantitative trading and research systems for the fund to facilitate the portfolio manager and analysts automate data load, rank stocks, manage models, and run stock selections.• Quant and coding experience in SAS, Excel, Bloomberg, FactSet, IBES, CompuStat, SQL, Java.

Provided financial companies with consulting services in E-business strategy, eCommerce product/service provisioning, and system integration’s architecture and best practices.• Led industry research, competitors’ analysis, and provisioning of features and functions for client’s new eCommerce initiatives; led cost & benefit analysis of eCommerce system integration. • As a key member on engagements, designed and integrated the E-business application, managed technical aspects across all phases of projects, including planning, requirement gathering, technical design, application design, production sizing and implementation. Technical experience includes Web, Java, J2EE and app servers, Oracle, MQ and Neon EAI middleware, and workflow engine.• Redefined the positioning of a B2B dotcom client as the central hub of the B2B space’s catalog and order management, identified initial segment to enter, and designed alliance program to reach Ariba, EDI, and CommerceOne communities. Resulted the customer expansion of 10 major retail chains in half a year. • Participated in projects of private banking, (financial) asset intelligence, and international shipping. The eCommerce projects raised clients’ customer satisfaction level, lowered operational cost, and strengthened their market positions via better priced products and/or superior services.