DISCLOSUREAPPENDIXATTHEBACKOFTHISREPORTCONTAINSIMPORTANTDISCLOSURES,ANALYSTCERTIFICATIONS,LEGALENTITYDISCLOSUREANDTHESTATUSOFNON-USANALYSTS.USDisclosure:CreditSuissedoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethattheFirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.10September2018AsiaPacific/HongKongEquityResearchDiversifiedFinancialsChinaP2PSectorRESULTSResearchAnalystsAliceLi,CFA85221016068alice.li.2@credit-suisse.comCharlesZhou,CFA85221016177charles.zhou@credit-suisse.comRichieJiang85221016198richie.jiang@credit-suisse.com1H18resultswrap:ChartingthebasicsFigure1:Quarterlyloanvolumeofourcoveredcompanies05,00010,00015,00020,00025,00030,0001Q153Q151Q163Q161Q173Q171Q18