~~tilffi fflffi s ~ffi~tf N o al En pribull amp Cr~ 11 o middotra o P blic Sy m

~tJRMffi~~~OO~~J~RJ ED til ampt-tt~fflfflftli 91110000584453117K

~lEttitA xB~

bull fticfllE ~t~Iiflifi~Wlll851 C 1poundll81Ul 2011~10=llOB

middot tft-tt~fifflftW 91110000584453117K

~lf (ij~ffffE-amp1al(lMll~)

middot ~llllif$ 200000000000JJAJilffi

middot ffftlUllllEI 2011~10=l 108

middot fticfllE ~ tlyen-$Iififi~fJlll85-lijj

ftictl~ lfft

~ft~~ ~~illtt~l21l~llil~ial

middot iiEftampA xBiil

middot lillZ 8 JUl 2011~10=l 108

middot ffftlU1111~ 2031~10=l098

middot fflllBJUl 2017~06=lOSB

Building No 91 - Floor 8 - Suite 2801-2807

middot iuus111 lllsect~ NiHfim ~ifl1l c middot1 ~~mm r-f3~l~ff~Oi~ 2 fi3~fflflilliE~~~a~~~3$ll~ 3 i---43amp ~o 4 fi3~PfiNifefr~lllH19itftll~~ilia s r-ftioJNitt1ltllim$~t~~tt~ 1lcftiamp~El~gljljsect lfmmS~ famp1

~lm99lllsect tiHlllE$nmlsect~PHil3fliltMf~ fi8M$$i~lUllilltlJ~lllsect99~ffi~ gt

CHINA CENTRAL GOVERNMENT LIKELY TO CONTROL CHX

bull On Feb 5 2016 Chongqing Casin Enterprise Group (Casin) announced that it would be acquiring the Chicago Stock Exchange (CHX) purportedly through the wholly owned subsidiary North America Casin Group Inc (ldquoNA Casin Grouprdquo) touting Casin as a diversified holding company1

bull Casin however has already pledged its own prospective ownership in CHX to one of Chinarsquos 12 national commercial banks the HengFeng Ever-growing Bank2 by trading its own corporate stock as collateral for cash to run (1) Beijing Casin Investment Holdings Co Ltd (ldquoCasin Holdingsrdquo) and (2) Casin Guoxing Property Development Co Ltd (Shenzhen Stock Exchange Code 000838) (ldquoCasin Developmentrdquo) Both companies are operated by Casin out of adjoining office space in downtown Beijing

bull Casin Holdings was reported to shareholders of the CHX as the entity that would buy the CHX on behalf of Casin Recently this entity has been more accurately reveled to be Chongqing Huan Yi Investment Co a parent to NA Casin Group and wholly owned subsidiary of Casin The affiliation of ldquoHuan Yirdquo was only disclosed as an affiliate of the ldquoCasin Grouprdquo in CHXrsquos August 7th 2017 amended rule filing3

bull Proof of Casinrsquos common operation of (Casin Beijing Investment Holdings Co Ltd AKA Chongqing Huan Yi Investment Co) and Casin Guoxing Property Development Co Ltd is publically available from Chinarsquos online government database the See Figure 1 and Figure 2 below showing the offices of Casinrsquos two subsidiaries as operating literally one door down the hall from each other at No 91 Jianguo Road Chaoyang Dist Beijing 100022 China Block 8 -in suites 2801-2807 and 2808 respectively (translation added)

Figure 1 - Beijing Casin Investment Holdings Ltd Government Registration Street address 91 Jianguo Rd Block 8 Suite 2801-2807

2 See Caixin Finance Hengfeng Bank Shaken by Management Feuds Regulatory Inquiries httpwwwcaixinglobalcom2016-11-22101009986 html3 Chicago Stock Exchange Amendment to SEC Rule Application to Allow Casin Acquisition CHX-2016-20 pg 256 of 668 (Schedule 1) (httpwwwchxcom postsrule-filingsProposedFilingsCHX-2016-20 amendment1pdf) (872017)

a 101 i Ente p lse C middoteel I 01 ma o Public System

~ra~~~itBfZ=~~JHffi~m~rSJ Em en fft-tt~fsmtt~ 911100002051092291

~lEftA Ff~lll bull ffiaffl j tfflllIiffifi~

CD JipoundrLBJUI 199~10El29B

middot irc-tt~fililflft~ 911100002051092291

~ lat1tlltfil~llliMal(l$)

middot itflltlii$ 110046217000EA~ffi

middot fflllJUllll13 199~10El29B

ftiaffl jtJjupiiffifi~

ftia~ ffil

-~11~- ~fflOO~~F~~~ffi~lllll0aJ middot ~lEftaA la111l

middot JipoundfBllll 199~10El29B

middot fflil(Jllllll~

middot ffllllBlll 2017poundlc04Ell4B

Building No 91 - Floor 8 - Suite 2808

middot ~fflBlil ltl~~ tij113fiff~~iffi~ ( ~~~El~~ffJilil3 fflliYMf~ ~~~~~ljljsect ~fflJc8lfllltXlFc~ltlll~P3-3ff~1f~ ~ -filIM~F~ltlalllllM~ljljsect~~lf~ gt

Casin Development (Shenzen ~ffiil~ltF~lilltfft~UlmisectiJ Exch No 000838) ilI

li~ffimltFff~fill~isectiJ(+-01F-l ti Jltt5965

I iA~~ffijj-1Casin Real Estate Holdings

-~~ffi~illlWfill~isectiJ(IiffillF-) ti ------=-------__a

Jltt1 0 iA~~liiii Chongqing Casio Enterprise Group (Casio)

I P~yen(IiffiJllf-) ti IShengju Lu

Jltt 36 iA~~ffijj1115392 ------------

I bull~lfffill~fH~isectiJ(IiffillF-) Chongqing Huan Yi Investment Jltt25o4 i~~fil384608 Co ~--------~

I Likely Casio Affiliate

a11r(+kll1F-l Jltt 2 iA~~ffijj-

I Likely Casio Affiliate

fllil~OOStmfcfill~isectiJ-JliiiJ9 (+-0$) Likely Casio Affiliate

Jltt018 iA~~ffijj-

flltil+kllf-~ I Likely Casio Affiliate

Jltt01 iA~~liii-- ~---------~

Chongqing Ca in also ha developed valuable mixed u e property con i ting of a five- tar hotel an IMAX cinema re taurant port and lei ure hop in Chongqing jiangbeizui Central Bu ine Di trict

Ca in Real Estate Development Co Ltd wa founded in l 996 and it ha the Fir t Grade Real E tale Development Qualification and Property Management Qualification It has developed project in Beijing Zhengzhou and Chongqing in China It i the controlling hareholder (5965 ownership) of Ca in Development (Code 000838) a public company on China A hare market (market cap approximately S 13 billion)

Ca in Property Management Co Ltd manages a total of 30 million square feet of re idential and commercial pace and middotcrvc more than 100000 resident

To ummarize Chongqing Casio i a large well-known and highly ucce fol company in China Mr Lu i it Chaimrnn founder and controlling tockholder Anyone wanting to learn more about Chongqing Ca in i encouraged lo review our web ite at httpwwwcgca incom

Figure 2 - Casin Guoxing Property Development Co Ltd Street address 91 Jianguo Rd Block 8 Suite 2808

bull Proof of Casin and its Chairman Shengju Lursquos ownership of and thus common liability with Casin Development is also available from the same public Chinese government database and NA Casin CEO Yong Xiao who credited Casin and ShenjuLu specifically as the owner of Casin Development in his own comment letter to the SEC pictured below to the left and right respectively (translation added)4

4 See SEC Comment Letter Submitted by President of North America Casin Holdings Inc at 4 March 1 2017

bullbull The below publically available info1mation from Chinese government database also

(1) shows that Casins chairman ShengJu Lu personally collateralized hundreds ofmillions of dollars with his own stock in Casin Development with Chinese Government controlled HengFeng Ever-growing Bank5 (translation added) and

(2) is an obvious indicator that all Casins assets (including its ownership of the CHX) are subject to Chinese government control

~is-B1faJ

2016-10-25

ffiaff~

500000001093922

Bank borrower I LENDER HENGFENG Bank collateralized party Chongqing Branch

Shengj u Lu

5~yen ffi$Uifi~ffiff~Jl~q)ffl~iltJ 11Rfi

2016-10-25

2016-05-24

500000001093930

500000001091176

~~ il~lllaHE $UifiNffm~~JltJ 11R-rr ~is]

S~ $flififliffiff~ll~~Sfi

2016-04-26 500000001090805 5~yen ffi$Uilfi~ffiffm~~Sfi

2016-04-26 500000001090800 5~yen $UifiNffm~q)~fr

~~ ~

iyenffll)~3amp

~ iyenMgt

~ iyenMgt

~ iyenffi)

~ wreggt

bullbull Casin has no more collateral to suppo1t the cash loan it took from the government bank as any google search will show that shares in Casin Development (Shenzhen Exchange Code 000838) have crashed and are no longer trading A google search offilings of Casins only public subsidia1y Casin Development also show that it cunently has a negative net shareholder equity confirming the Chinese government control over the assets ofCasin and ShengJu Lu (the father of proposed CHX investor and NA Casin Holdings Vice President Jay Lu)6

bullbull Investment blogs in China tie the CHX acquisition to the value of Casin Development (000838) which is a likely explanation ofwhy the stock had a meteoric rise around the time that Casin announced its plans to buy the CHX7

Finance

eo_

-IUtnalplkH Frendats

middot-

Figure 3 - Casin Development Share Price amp Casin Development Debt Report

CASIN Guoxlng Properly Dovlopment Co Lid iSgtE~00836) AdflOl)CIPtlbllo

000

---- LENDER HENGFANG BANK Chongqing branch

mt

mt Hgt

lillgt

Hgt

H)

5 See Caixin Finance Hengfeng Bank Shaken by Management Feuds Regulatory Inquiries httpwwwcaixinglobalcom2016-11-22101009986 html 6 See CHX press release dated Febma1y 5 2016 Chinese Investor Group to Acquire Chicago Stock Exchange httpwwwbusinesswirecomnewshome20160205005113enInvestor-Group-Acguire-Chicago-Stock-Exchange 7 See Sina finance website Chinas most popular financial news channel http gubasinacomcns=barampname=sz000838

m

toS

2016-10-25 500000001093922 s~ l~fiftii8fil~1iJbllliit e k borrower collate i Kl

party Shengju L

~ 2016-10-25 500000001093930 iifi~

~iij

2016middot05middot24 500000001091176

2016-04-26 500000001090805

2016-04-26 500000001090800

sectfffil]Qi)fil~sJllWlltfi

bullbull The below publically available info1mation from Chinese government database also

(1) shows that Casins chairman ShengJu Lu personally collateralized hundreds ofmillions of dollars with his own stock in Casin Development with Chinese Government controlled HengFeng Ever-growing Bank5 (translation added) and

(2) is an obvious indicator that all Casins assets (including its ownership of the CHX) are subject to Chinese government control

~is-B1faJ

2016-10-25

ffiaff~

500000001093922

Bank borrower I LENDER HENGFENG Bank collateralized party Chongqing Branch

Shengj u Lu

5~yen ffi$Uifi~ffiff~Jl~q)ffl~iltJ 11Rfi

2016-10-25

2016-05-24

500000001093930

500000001091176

~~ il~lllaHE $UifiNffm~~JltJ 11R-rr ~is]

S~ $flififliffiff~ll~~Sfi

2016-04-26 500000001090805 5~yen ffi$Uilfi~ffiffm~~Sfi

2016-04-26 500000001090800 5~yen $UifiNffm~q)~fr

~~ ~

iyenffll)~3amp

~ iyenMgt

~ iyenMgt

~ iyenffi)

~ wreggt

bullbull Casin has no more collateral to suppo1t the cash loan it took from the government bank as any google search will show that shares in Casin Development (Shenzhen Exchange Code 000838) have crashed and are no longer trading A google search offilings of Casins only public subsidia1y Casin Development also show that it cunently has a negative net shareholder equity confirming the Chinese government control over the assets ofCasin and ShengJu Lu (the father of proposed CHX investor and NA Casin Holdings Vice President Jay Lu)6

bullbull Investment blogs in China tie the CHX acquisition to the value of Casin Development (000838) which is a likely explanation ofwhy the stock had a meteoric rise around the time that Casin announced its plans to buy the CHX7

Finance

eo_

-IUtnalplkH Frendats

middot-

Figure 3 - Casin Development Share Price amp Casin Development Debt Report

CASIN Guoxlng Properly Dovlopment Co Lid iSgtE~00836) AdflOl)CIPtlbllo

000

---- LENDER HENGFANG BANK Chongqing branch

mt

mt Hgt

lillgt

Hgt

H)

5 See Caixin Finance Hengfeng Bank Shaken by Management Feuds Regulatory Inquiries httpwwwcaixinglobalcom2016-11-22101009986 html 6 See CHX press release dated Febma1y 5 2016 Chinese Investor Group to Acquire Chicago Stock Exchange httpwwwbusinesswirecomnewshome20160205005113enInvestor-Group-Acguire-Chicago-Stock-Exchange 7 See Sina finance website Chinas most popular financial news channel http gubasinacomcns=barampname=sz000838

m

toS

2016-10-25 500000001093922 s~ l~fiftii8fil~1iJbllliit e k borrower collate i Kl

party Shengju L

~ 2016-10-25 500000001093930 iifi~

~iij

2016middot05middot24 500000001091176

2016-04-26 500000001090805

2016-04-26 500000001090800

sectfffil]Qi)fil~sJllWlltfi