Overview
                                    
                                    
                                        
                                            Advisory Firm 
Neumann Advisory Hong Kong Limited (“NAHKL” or the “Firm”) is a company domiciled 
in Hong Kong, Special Administrative Region, incorporated on February 11, 2015. The Firm 
acts as the investment adviser and provides investment advisory services to private investment 
funds. The Firm is 100% owned by Neumann Advisors (“NA Cayman”), which in turn is 
100%  owned  by  Neumann  Group  Limited  (“NGL  BVI”),  which  is  wholly  owned  and 
controlled by the founder, Fei Zhang (“Mr. Zhang”). 
Mr.  Zhang  serves  as  director,  substantial  shareholder,  chief  executive  officer  and  chief 
investment officer of the Firm. He also serves as a director and substantial shareholder of NA 
Cayman and NGL BVI. 
The  Firm  acts  as  the  investment  manager  of  Neumann  Capital,  an  exempted  company 
incorporated with limited liability company under the laws of the Cayman Islands (the “Master 
Fund”) and of its Non-U.S Feeder Fund, Neumann Capital Feeder A, and U.S. Feeder Fund, 
Neumann Capital Feeder B, both of which are also an exempted company incorporated with 
limited liability company under the laws of the Cayman Islands (both the “Feeder Funds”, and 
together  with  the  Master  Fund,  the  “Fund”).  The  Firm  provides  discretionary  investment 
advisory services to the Fund in its capacity as the investment adviser of the Fund. Mr. Zhang 
serves as the director of the Fund. 
No  registration  statement  has  been  or  will  be  filed  with  the  U.S.  Securities  and  Exchange 
Commission (the “SEC”) or any state securities authority with respect to any offering of the 
Fund. The Shares have not been and will not be registered under the United States Securities 
Act of 1933, as amended (the “1933 Act”) or the securities laws of any of the states of the 
United States. Furthermore, the Fund has not been and will not be registered under the United 
States Investment Company Act of 1940, as amended (the “1940 Act”) since Shares will only 
be sold to US Persons who meet the status of “qualified purchasers”, as defined in the 1940 
Act. Each subscriber for Shares that is a US Person will be required to certify that it is an 
“accredited investor” and a “qualified purchaser”, in each case as defined under applicable US 
federal securities laws, thereby also qualifying as a “qualified eligible person”
                                        
                                        
                                             as defined in Rule 
4.7 under the United States Commodity Exchange Act, as amended (the “CEA”). 
Types of Services Offered 
The principal activity of the Firm is to provide discretionary investment management services 
including investment advisory services, focusing on investments globally across a range of asset 
classes with no limits to any geographical area or industry sector, but will invest primarily in 
listed  equities.  The  Firm  may  also  invest  in  unlisted  equities,  including  late-stage  private 
investments and private investments in public equities, on an ancillary basis. 
The  Firm  provides  investment  advisory  services  to  the  Fund  based  on  specific  investment 
objectives and strategies. The Fund’s offering documents (as amended and supplemented from 
time to time) set forth the investment guidelines and/or the types of investments in which the 
assets of the Fund may invest. Together with its affiliates, the Firm also provides investment 
advisory services to separately managed accounts (“SMAs”). 
Ability to Tailor Services and Impose Restrictions 
The investment objectives and strategy for the Fund are described in the Fund’s offering 
documents. The  Firm  provides  investment  management  and  advisory  services to  the  Fund, 
pursuant  to  the  Investment  Management  Agreement,  based  on  the  specific  investment 
objectives and strategies of the Fund and does not provide services individually to investors in 
the Fund (the “Investors”). Since the Firm does not provide tailored advice to the Investors, 
the Investors should consider whether the Fund’s investment strategies are in line with their 
risk tolerances. The Fund may from time to time enter into side letter agreements or other 
similar agreements (“Side Letters”) providing Investors with additional and/or different rights 
and benefits. 
Wrap Fee Programs 
The  Firm  does  not  participate,  sponsor  or  act  as  a  portfolio  manager  for  any  wrap  fee 
programs. 
Client Assets 
As of December 31, 2023, the Firm had approximately US$ 452,387,454.63 regulatory assets 
under management, all of which it manages on a discretionary basis. 
The performance of the Fund and SMAs are reported, fees are calculated, and all subscriptions 
and redemptions are transacted, in US dollars (US$).