BAOZUN INC

Ticker: BZUN CUSIP: 06684L103 Class: SPONSORED ADR

Adalta Capital Management LLC's Holding History (CIK: 0001698926)

Note: Option positions (PUT/CALL) are excluded.

Q3 2019

Shares 10,000 Value ($000) $427 Avg Close — Range —

Q2 2019

Shares 14,400 Value ($000) $718 Avg Close — Range —

Q1 2019

Shares 14,400 Value ($000) $598 Avg Close — Range —

Q4 2018

Shares 14,400 Value ($000) $421 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2019	10,000	$427	—	—
Q2 2019	14,400	$718	—	—
Q1 2019	14,400	$598	—	—
Q4 2018	14,400	$421	—	—