Risk Disclosure

1. Purpose of This Statement

This Risk Disclosure Statement (this “Statement”) is intended to remind Users that the AI analysis, strategy generation, strategy backtesting, API integration, automated execution assistance, report generation, notification, and other related functions provided by MASQuant (the “Platform”) are all subject to technical, data, market, trading, legal, and third-party dependency risks.

Before registering, subscribing, uploading strategies, enabling backtesting, connecting to a broker or trading platform, deploying automated execution functions, purchasing third-party strategies, or continuing to use the Platform, Users shall read and fully understand this Statement.

2. MASQuant’s Role

The Platform provides technical tools, information services, and system functions, including but not limited to trading automation, data analysis, strategy backtesting, report generation, API integration, and technical automated execution functions performed according to parameters set by Users themselves. Except where it has obtained the necessary licenses in accordance with the law and has otherwise agreed in writing, Mas Intelligent Technology Ltd. (順星智能科技股份有限公司) (the “Company”) does not hold in custody, receive, manage, or use Users’ funds; does not, at the Company’s discretion, determine for Users the trading instrument, timing, price, position, or risk exposure; and does not accept discretionary account management or trade on behalf of users.

3. Not Investment Advice

The data analysis, strategy logic, backtesting results, technical indicators, model outputs, AI suggestions, third-party data integration results, and other related information provided by the Platform are provided solely as technical and informational services and do not constitute any investment advice, trading advice, guarantee of returns, promise of profit, or guarantee of future performance.

Users shall decide for themselves whether to adopt such information and shall bear all trading decisions and their outcomes themselves.

4. Risks of AI Generation and Strategy Logic

The Platform may use AI, rule engines, natural language parsing, automatic generation, or other technologies to assist Users in generating strategies, completing conditions, converting logic, generating code, producing reports, or performing ranking and analysis.

Users shall understand and agree that:
(1) AI-generated or automatically generated results may contain errors, be incomplete, or involve logical conflicts, ambiguous expressions, missing parameters, coding errors, or inconsistencies with the User’s original intent.
(2) AI-generated content is not inherently suitable for any market, instrument, broker, trading conditions, capital size, or risk tolerance.

Before actual use, deployment, integration, or order placement, Users shall independently verify all conditions, formulas, code, risk control settings, and stop-loss logic.

5. Risks of Backtesting, Simulation, and Historical Data

The backtesting, simulations, historical analyses, performance charts, or risk metrics provided by the Platform are based on historical data, testing assumptions, model conditions, transaction cost assumptions, data quality, or other premises.

Users shall understand and agree that:
(1) Historical performance, backtesting results, simulation results, or optimization results do not represent future performance.
(2) Backtesting may not fully reflect slippage, spread widening, insufficient liquidity, price gaps, market disruptions, latency, stop-loss failures, margin restrictions, order rejections, data errors, or other real trading risks.
(3) Any optimization, parameter adjustment, or model training results may be subject to overfitting or out-of-sample failure.
(4) The Company does not guarantee that any backtesting, simulation, or historical analysis results can be replicated in future markets.

6. Risks of Automated Execution and API Integration

The Platform may support API integration, technical signal transmission, automated execution assistance, notifications, program deployment, or integration with third-party platforms (including but not limited to brokers, trading platforms, MT5, cloud services, or data providers).

Users shall understand and agree that:
(1) Automated execution may fail due to API interruptions, invalidated authorizations, incorrect keys, third-party service malfunctions, version updates, coding errors, environmental changes, network latency, or system failures.
(2) Any order submission, modification, or cancellation, stop-loss, take-profit, position management, or risk control execution may be delayed, rejected, or not completed due to third-party system restrictions, market conditions, or connectivity issues.
(3) Users shall independently confirm their third-party account permissions, margin status, risk control settings, and deployment environment; the Company does not guarantee that any integration or deployment will be successful, stable, or continuously available.

7. Market and Foreign Exchange Margin Trading Risks

If a User uses the Platform to engage in foreign exchange margin trading, leveraged trading, automated trading, or other high-risk trading, the User shall particularly understand that:
(1) Leveraged trading may magnify profits, and it magnifies losses at the same time.
(2) Market prices may change rapidly due to volatility, price gaps, major events, insufficient liquidity, widening spreads, or trading interruptions.
(3) Users may incur substantial losses within a short period of time, and may even lose all of the funds they have invested.
(4) Insufficient margin, forced liquidation (stop-out), unfilled stop-loss orders, execution at abnormal prices, and similar situations may all occur.
(5) Trading restrictions, margin requirements, trading hours, risk control logic, leverage ratios, and legal and regulatory requirements may differ among countries, brokers, platforms, or counterparties.

8. Third-Party Content Risks

Where the Platform provides third-party strategies, third-party signals, third-party data sources, or third-party plug-ins, Users shall understand and agree that:
(1) Third-party content is provided or maintained by third parties, and the Company does not guarantee its accuracy, completeness, legality, stability, availability, or suitability.
(2) Third-party strategies, models, parameters, signals, or code may contain errors, infringe rights, cease to function, contain malicious code, or involve other risks.
(3) Before adopting third-party content, Users shall still independently verify it and shall bear the results of its use themselves.
(4) If a third-party service is suspended, changed, removed, revoked, or terminates its integration with the Platform, the Company does not guarantee that the related content will continue to be provided.

9. Disclaimer

Users shall, on their own:
(1) Evaluate whether the Platform and its related functions are suitable for their own needs, level of knowledge, trading experience, and risk tolerance.
(2) Verify strategy logic, code, parameters, backtesting assumptions, and deployment environments.
(3) Properly safeguard their accounts, passwords, authentication tools, and API credentials.
(4) Comply with the laws, rules, and agreements of the country/region in which they are located and of the brokers, partner financial institutions, or trading platforms they use.
(5) Bear the trading profits and losses, fees, taxes, legal compliance, and other related responsibilities arising from the use of the Platform or third-party integrations.

10. Limitation of Liability

Except as otherwise mandatorily required by law, the Company shall be liable only for direct damages caused by intentional acts or negligence attributable to the Company. The Company shall not be liable for third-party service interruptions, network transmission failures, market volatility, counterparty defaults, restrictions imposed by competent authorities, force majeure, or other matters beyond its reasonable control that are not attributable to the Company.

The Company’s maximum liability for claims by Users shall be as set forth in the Company’s “Terms of Use“.

11. Acknowledgment Before Use

By checking the box to agree, enabling related functions, subscribing to a paid plan, uploading strategies, purchasing strategies, deploying automated trading, or connecting to a third-party trading platform, a User represents that, before doing so, the User has read, understood, and agreed to this Statement and is fully aware of the functional limitations and trading risks of the Platform.