ArticlesofAssociationofADAMALtd.

October2025(Amended)

Catalog

Chapter1GeneralProvisions ...... 1

Chapter2TheBusinessPurposeandScopeoftheCompany ...... 3

Chapter3Shares ...... 4

Section1ShareOffering ...... 4

Section2ShareIncrease,DecreaseandRepurchase ...... 5

Section3ShareTransfer ...... 6

Chapter4ShareholdersandShareholders’meetings ...... 7

Section1GeneralRulesonShareholders ...... 7

Section2ControllingShareholdersandActualControllers ...... 12

Section3GeneralProvisionsofShareholders’Meetings ...... 15

Section4ConveningofShareholders’meetings ...... 18

Section5ProposalandNoticeofShareholders’meetings ...... 20

Section6HoldingofShareholders’Meetings ...... 22

Section7VoteandResolutionofShareholders’meetings ...... 26

Chapter5DirectorsandBoardofDirectors ...... 32

Section1GeneralRulesonDirectors ...... 32

Section2BoardofDirectors ...... 37

Section3IndependentDirectors ...... 45

Section4SpecializedCommitteesunderBoardofDirectors ...... 49

Chapter6PartyCommittee ...... 51

Chapter7SeniorExecutives ...... 52

Chapter8FinancialandAccountingSystems,ProfitDistributionandAuditing ...... 55

Section1FinancialandAccountingSystems ...... 55

Section2InternalAudit ...... 59

Section3AppointmentofAccountingFirms ...... 60

Chapter9NoticesandAnnouncements ...... 61

Section1Notice ...... 61

Section2Announcement ...... 62Chapter10Merger/Consolidation,Spin-off,CapitalIncrease,CapitalReduction,DissolutionandLiquidation ...... 62

Section1Merger/Consolidation,Spin-off,CapitalIncreaseandCapitalReduction ...... 62

Section2DissolutionandLiquidation ...... 64

Chapter11AmendmentstotheArticlesofAssociation ...... 67

Chapter12SupplementaryProvisions ...... 68

Chapter1GeneralProvisionsArticle1TheseArticlesofAssociationofADAMALtd.(hereinafterreferredtoas“Company”)areformulatedpursuanttotheCompanyLawofthePeople'sRepublicofChina(hereinafterreferredtoas“CompanyLaw”),theSecuritiesLawofthePeople'sRepublicofChina(hereinafterreferredtoas“SecuritiesLaw”)andotherrelatedprovisions,withaviewtosafeguardingthelegitimaterightsandinterestsoftheCompany,itsshareholders,employeesandcreditors,andregulatingtheorganizationalstructuresandactsoftheCompany.InaccordancewiththeCharteroftheCommunistPartyofChina(“CPC”)andtheRegulationontheworkatprimary-levelPartyorganizationsofState-ownedenterprises(forTrialImplementation),theCompanyshallestablishtheorganizationoftheCPC,thePartyCommitteeshallactasaleadingrole,leadthedirection,takechargeofoverallsituationsandensuretheimplementationofthedecisions,anddiscussanddecidemajorissuesoftheenterpriseinaccordancewithregulations.TheCompanyshallestablishtheworkingorganizationoftheParty,havePartypersonnelinaccordancewiththelawandguaranteethereareadequatefundsfortheworkofPartyorganization.Article2TheCompanywasrestructuredfromformerShashiPesticideFactoryofHubeiProvinceasacompanylimitedbysharesinaccordancewiththeCompanyLawandotherrelevantprovisions.Asapprovedin“EGai[1992]02”DocumentissuedbytheCommissionforEconomicRestructuringofHubeiProvince,thecompanyisestablishedasperraisingcapitalbyprivateplacement,registeredwiththeJingzhouMunicipalAdministrationforMarketRegulation,andobtaineditsbusinesslicense.ThesocialcreditcodeoftheCompanyis91420000706962287Q.Article3WiththeapprovaloftheChinaSecuritiesRegulatoryCommission(hereinafterreferredtoas“CSRC”)in“ZhengJianFaShen[1993]70”DocumentdatedSeptember27,1993,theCompanyinitiallyoffered30,000,000ordinaryRenminbicommonshareswhichshallbesubscribedbyinboundinvestorsbyRenminbitothepublic,andwaslistedonShenzhenStockExchangeonDecember3,1993;onApril25,1997,withtheapprovaloftheSecuritiesCommissionoftheStateCouncilin“ZhengWeiFa[1997]23”Document,theCompanyinitiallyoffered115,000,000domesticallylistedforeign-fundedshareswhichshallbelisteddomesticallyandsubscribedbyforeigncurrencytooutboundinvestorsandwaslistedonShenzhenStockExchangeonMay15and25,1997.Article4RegisterednameoftheCompanyFullnameinChinese:

安道麦股份有限公司

FullnameinEnglish:ADAMALtd.Article5DomicileoftheCompany:No.93,BeijingEastRoad,Jingzhou,HubeiProvince,Postalcode:434001.ManufactureaddressoftheCompanyare:No.93,BeijingEastRoad,Jingzhou,HubeiProvinceandNo.16,HongtangRoad,JingzhouDevelopmentZone,Jingzhou,HubeiProvince.Article6RegisteredcapitaloftheCompanyshallbeRenminbi2,329,811,766.Article7TheCompanyshallbeapermanentcompanylimitedbyshares.Article8ThemanagerwhorepresentsthecompanytoexecutecorporateaffairsshallserveasthelegalrepresentativeoftheCompany,holdingthepositionofPresidentandCEO.WherethePresidentandCEOwhoservesasthelegalrepresentativeresigns,he/sheshallbedeemedtohaveresignedfromthepositionofthelegalrepresentativeatthesametime.Wherethelegalrepresentativeresigns,theCompanyshallappointanewlegalrepresentativewithin30daysafterthedateofhis/herresignation.Article9TheCompanyshallbearthelegalconsequencesarisingfromthecivilactivitiesconductedbythelegalrepresentativeinthenameoftheCompany.AnyrestrictionsonthefunctionsandpowersofthelegalrepresentativeimposedbytheArticlesofAssociationortheshareholders'meetingshallnotbeassertedagainstabonafidethirdparty.WherethelegalrepresentativeoftheCompanycausesdamagetootherswhileperforminghis/herduties,theCompanyshallassumethecivilliability.Afterassumingthecivilliability,theCompanymay,inaccordancewiththeprovisionsoflawortheArticlesofAssociation,claimindemnificationagainstthelegalrepresentativewhoisatfault.Article10ShareholdersshallbearresponsibilitiestotheCompanytotheextentoftheirsharesandtheCompanyshallbeliablefortheCompany'sdebtswithallofitsassets.Article11TheseArticlesofAssociationshall,asofthedatewhentheycomeintoforce,becomeadocumentlegallybindingupontheorganizationalstructureandactsoftheCompany,upontherelationshipofrightsandobligationsbetweentheCompanyanditsshareholdersandbetweenoramongshareholdersthemselves,and

upontheCompany,itsshareholders,directorsandseniorexecutives.Theshareholdersmay,inaccordancewiththeseArticlesofAssociation,bringlawsuitsagainstothershareholders,ortheCompany'sdirectorsandseniorexecutives,ortheCompany.TheCompanymayalsobringlawsuitsagainstitsshareholders,directors,andseniorexecutives.Article12“Seniorexecutives”whereusedintheseArticlesofAssociationshallrefertothePresidentandCEO,ChiefFinancialOfficerandthesecretaryoftheboardofdirectorsfollowingtheirappointmentasseniorexecutivesbytheboardofdirectors.

Chapter2TheBusinessPurposeandScopeoftheCompany

Article13ThebusinesspurposeoftheCompanyistotakethecomprehensiveadvantages,promotetechnologicalprogress,strengthenthedevelopmentofagriculturalchemicalsandrelatedindustries,improvethedomesticandforeignmarketshare,strengthenenterprisemanagement,improveeconomicefficiency,andensureassetvalueincrease.Article14Subjecttoregistrationaccordingtothelaw,theCompany'sbusinessscopeis:Licenseditems:pesticideproduction,pesticidewholesale,pesticideretail,productionofspecificorganicchemicalscontainingphosphorus,sulfurandfluorineinthesecond,thirdandfourthcategoriesofmonitoredchemicals,operationofthesecondcategoryofmonitoredchemicals,productionofhazardouschemicals,operationofhazardouschemicals,importandexportoftoxicchemicals,powergenerationbusiness,powertransmissionbusiness,powersupply(distribution)business,non-coalmineralresourcesmining.(Itemssubjecttoapprovalinaccordancewiththelawcanonlybecarriedoutafterapprovalbytherelevantdepartments,andthespecificbusinessitemsaresubjecttotheapprovaldocumentsorlicensesoftherelevantdepartments.)Generalitems:productionofClassIInon-pharmaceuticalchemicalseasytomanufacturepoisons,operationofClassIInon-pharmaceuticalchemicalseasytomanufacturepoisons,productionandoperationofClassIIInon-pharmaceuticalchemicalseasytomanufacturepoisons,productionofchemicalproducts(excludinglicensedchemicalproducts),saleofchemicalproducts(excludinglicensedchemicalproducts),manufactureofspecialchemicalproducts(excludinghazardouschemicals),saleofspecialchemicalproductsales(excludinghazardouschemicals),oilrefining,manufacturingofspecialequipmentforchemicalproduction,salesofspecialequipmentforoilrefiningandchemicalproduction,heatproductionandsupply,importandexportofgoods,importandexportoftechnology,technicalservices,technologydevelopment,technologyconsulting,technologyexchanges,technology

transfer,technologypromotion,newmaterialstechnologyresearchanddevelopment,bio-pesticidetechnologyresearchanddevelopment,bio-chemicalproductstechnologyresearchanddevelopment,agriculturalscientificresearchandexperimentaldevelopment,metalstructuremanufacturingandsales,loading,unloadingandfreight,generalcargowarehousingservices(excludinghazardouschemicalsandotherprojectsrequiringlicensingapproval).(Inadditiontothelicensedbusiness,itcanindependentlyoperatebusinessinvolvingnon-prohibitedorrestrictedprojectsinaccordancewiththelawsandregulations.)

Chapter3Shares

Section1ShareOfferingArticle15ThesharesoftheCompanyshalltaketheformofstocks.Article16ThesharesoftheCompanyareofferedinanopen,impartialandfairmanner.Sharesofthesamekindshallenjoythesameandequalrights.Forsharesofthesamekindofferedatthesametime,theissuingconditionsandpricesofeachofsuchsharesshallbethesame;forsharessubscribedbythesubscribers,eachofsuchsharesshallbepaidatthesamevalue.Article17ThefacevalueofeachsharesofferedbytheCompanyshallbeRenminbi1.Article18SharesissuedbytheCompanyshallbeuniformlydepositedatShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited.Article19InAugust,1992,theBureauforStatePropertyAdministrationofShashi,HubeiProvinceconvertednetoperatingassetsintotalamountofRenminbi60,764,900intocapitalcontributionas59,663,400Stateshares,andraisedcapitalbyprivateplacementfromtheemployees,whosubscribed15,270,500sharestoestablishtheCompany.Article20ThetotalnumberofthesharesissuedbytheCompanyis2,329,811,766,amongwhich2,177,071,961Renminbiordinaryshares,152,739,805domesticallylistedforeign-fundedshares.Article21TheCompanyoritssubsidiaries(includingitsaffiliatedenterprises)shallnot,bysuchmeansasdonation,advancement,guarantee,loanorotherwise,

provideanyonewhoobtainstheCompany'ssharesortheparentcompany'sshareswithfinancialassistance,exceptwheretheemployeestockownershipplanisimplemented.FortheinterestsoftheCompany,uponresolutionofashareholders'meetingorresolutionbytheboardofdirectorspursuanttotheArticlesofAssociationortheauthorizationoftheshareholders'meeting,theCompanymayprovidefinancialassistancetoothersforobtainingofthecompany'ssharesortheparentcompany'sshares,providedthatthetotalcumulativeamountoffinancialassistanceshallnotexceed10%ofthetotalissuedsharecapital.Aboardresolutionshallbepassedbymorethantwo-thirdsofallthedirectors.Section2ShareIncrease,DecreaseandRepurchaseArticle22TheCompanymay,forthepurposeofitsoperationanddevelopmentandinaccordancewiththelawsandregulations,adoptthefollowingmeansforincreaseinitscapitalfollowingresolutionsrespectivelyadoptedbytheshareholders’meeting:

(1)issuanceofsharestounspecifiedobjects;

(2)issuanceofsharestospecifiedobjects;

(3)issuingbonussharestocurrentshareholders;

(4)convertingthecommonreservefundintothesharecapital;or

(5)othermeansasprescribedbylawsandadministrativeregulationsandtheCSRC.Article23TheCompanymayreduceitsregisteredcapital.Ifitsregisteredcapitalisreduced,theCompanyshallcomplywiththeCompanyLaw,andotherrelevantprovisionsandproceduresasprescribedintheseArticlesofAssociation.Article24TheCompanyshallnotacquireitsownshares,exceptunderanyofthefollowingcircumstances:

(1)decreasingtheCompany'sregisteredcapital;

(2)merging/consolidatingwithothercompaniesholdingthesharesoftheCompany;

(3)Useofsharesforemployeestockownershipplansorequityincentives;

(4)whereshareholdersraiseobjectionstoresolutionsbytheshareholders’meetingonthemergerorspinoffoftheCompany,andthusrequireittoacquireitsownshares;

(5)UseofsharesforconversionofconvertiblecorporatebondsissuedbytheCompany;or

(6)ItisnecessaryformaintainingthevalueoftheCompanyandshareholders'equity.Article25BuybackofsharesbytheCompanymaybecarriedoutthroughopencentralizedtrading,orviaanyothermethodrecognizedbylawsandadministrativeregulationsandtheCSRC.

AsharebuybackbytheCompanyunderthecircumstancesstipulatedinitem(3),item

(5)oritem(6)ofArticle24shallbecarriedoutviaanopencentralizedtradingmethod.Article26AresolutionofashareholdersmeetingisrequiredforasharebuybackbytheCompanyunderanyofthecircumstancesstipulatedinitem(1)anditem(2)ofArticle24;aresolutionoftheBoardmeetingpresentedbytwo-thirdsormoreofthedirectorsisrequiredforaCompany'ssharebuybackunderanyofthecircumstancesstipulatedinitem(3),item(5)anditem(6)ofArticle24.WhereasharebuybackbytheCompanypursuanttotheprovisionsofArticle24fallsunderthecircumstancessetoutinitem(1),thesharesshallbederegisteredwithin10daysfromthedateofbuyback;whereasharebuybackbytheCompanypursuanttotheprovisionsofArticle24fallsunderthecircumstancessetoutinitem(2)oritem

(4),thesharesshallbetransferredorderegisteredwithinsixmonths;whereasharebuybackbytheCompanypursuanttotheprovisionsofArticle24fallsunderthecircumstancessetoutinitem(3),item(5)oritem(6),thetotalnumberofsharesheldbytheCompanyshallnotexceed10%ofthetotalnumberofsharesissuedbytheCompany,andthesharesshallbetransferredorderegisteredwithinthreeyears.Section3ShareTransferArticle27TheCompanysharesshallbetransferredaccordingtothelaw.Article28TheCompanyshallrefusetohaveitsownsharesasthecollateralofpledge.Article29ThedirectorsandseniorexecutivesoftheCompanyshallreporttotheCompanytheirsharesintheCompanyandanyalterationstothesharessoheld,andthesharestransferredannuallybythemduringtheirtermsofofficedeterminedatthetimeofappointmentshallnotexceed25%oftheirtotalsharesofthesametypeofsharesoftheCompany;theirsharesintheCompanyshallnotbetransferredwithinthefirstyearaftertheCompany'sstocksarelisted.TheaforesaidpersonsshallnottransfertheirsharesintheCompanyfortheperiodofsixmonthsaftertheyresignfromtheCompany.Article30WheretheCompany'sshareholderswhichholdmorethan5%ofthetotalsharesoftheCompany,directorsandseniorexecutivesselltheirstocksorothersecuritiesofequitynaturewithinsixmonthsafterhavingboughtthem,orrepurchasethemwithinsixmonthsafterhavingsoldthem,allearningsthusobtainedshallbeconfiscatedbytheCompanyandberevokedbytheboardofdirectorsoftheCompany.However,exceptionapplieswhereasecuritiescompanyholdsmorethan5%ofthe

Company’ssharesduetopurchaseofanyremainingsharesinabesteffortsunderwriting,orwherethereareanyothercircumstancesstipulatedbytheCSRC.Sharesorothersecuritiesofequitynatureheldbydirectors,seniorexecutivesandnatural-personshareholdersreferredtointheprecedingparagraphshallincludesharesorothersecuritiesofequitynatureheldbytheirspouse,parents,children,andheldbythemusingother'saccounts.WheretheboardofdirectorsrefusestocomplywiththeprovisionsofthisArticle30,theshareholdersshallhavetherighttoordertheenforcementbytheboardofdirectorsofthesaidprovisionswithin30days.WheretheboardofdirectorsfailstoobservetheprovisionsofthisArticle30withintheaforesaidtimelimit,theshareholdersshallbeentitledto,intheirownnames,directlyfileasuitwiththepeople'scourtforthebenefitsoftheCompany.WheretheboardofdirectorsrefusestocomplywiththefirstparagraphofthisArticle,theresponsibledirectorsshallbearjointandseveralliabilitiesaccordingtolaw.Chapter4ShareholdersandShareholders’meetingsSection1GeneralRulesonShareholdersArticle31TheCompanyshall,accordingtotheevidenceprovidedbyShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited,preparearegisterofshareholders,whichservesassufficientevidencefortheCompany'ssharesheldbytheshareholders.Shareholdersshallenjoyrightsandbearresponsibilitiesaccordingtothekindsofsharesheldbythem;shareholderswiththesamekindofsharesshallenjoyequalrightsandbearthesameobligations.Article32WhentheCompanyholdstheshareholders’meeting,distributesstockdividends,goesintoliquidationproceedingsorconductsotheractsrequiringtheidentificationofshareholders,theboardofdirectorsortheconveneroftheshareholders’meetingshalldecideontheequityregistrationdateandshareholderswhoarerecordedinthesaidregisteraftertheclosingoftheequityregistrationdateshallbetheshareholdersentitledtotherelevantrightsandinterests.Article33ShareholdersoftheCompanyareentitledtothefollowingrights:

(1)obtainingthedividendsorotherformsofinterestdistributionsaccordingtothenumbersofsharesheldbythem;

(2)legallyrequestingtohold,convening,presidingover,attendingorentrusting

shareholders'proxiestoattendtheshareholders’meetingandexercisingtherelevantvotingrights;

(3)supervisingover,givingrecommendationsonorinquiringaboutthebusiness

operationoftheCompany;

(4)transferring,donatingorpledgingtheirshareholdingsinaccordancewithlaws,

administrativeregulationsandtheprovisionshereof;

(5)havingaccesstoandmakingcopiesoftheseArticlesofAssociation,registerof

shareholders,minutesoftheshareholders’meeting,resolutionsoftheboardofdirectors,andfinancialandaccountingstatements;qualifiedshareholdersmayconsulttheCompany'saccountingbooksandaccountingvouchers;

(6)participatinginthedistributionoftheCompany'sremainingpropertiesin

accordancewiththeirshareholdings,upontheterminationorliquidationoftheCompany;

(7)demandingtheCompanytoacquirethesharesoftheshareholderswhoraise

objectionstothemerger/consolidationandspin-offresolutionsadoptedbytheshareholders’meeting;and

(8)otherrightsprescribedinlaws,administrativeregulationsandotherregulationsof

ministriesandcommissions,andtheprovisionsoftheseArticlesofAssociation.Article34TheshareholderswhorequesttoconsultormakecopiesoftherelevantmaterialsoftheCompanyshallcomplywiththeprovisionsoftheCompanyLaw,theSecuritiesLawandrelatedlawsandadministrativeregulations.WhenashareholderrequeststoconsultorcopytherelevantmaterialsspecifiedinItem(5)ofArticle33oftheseArticlesofAssociation,theshareholdershallsubmitawrittenrequesttotheCompany,statingthepurpose,specificcontentandtimeofconsultingorcopyingtherelevantmaterials,andprovidetheCompanywiththefollowingmaterials:

(1)Shareholderidentificationdocuments(naturalpersonshareholdersshallprovideacopyoftheiridentitycertificate;legalpersonshareholdersshallprovideacopyoftheirbusinesslicenseandthelegalrepresentative'sidentitycertificate,andpresenttheoriginaldocumentstotheCompanyonthedayofinspectingorcopyingtherelevantmaterials);iftheconsultingorcopyingisconductedbyproxy,theproxy'sownidentitycertificateandtheshareholder'swrittenpowerofattorneyshallalsobeprovided;

(2)WrittendocumentsprovingthetypeandquantityoftheCompany'ssharesheldby

theshareholder;

(3)AwrittenstatementforconsultingorcopyingtheCompany'srelevantmaterials,clearlystatingthedirectrelevancebetweentheconsultingorcopyingoftheCompany'srelevantmaterialsandtheshareholder'slegitimaterightsandinterests,andcontainingnocontentrelatedtounfaircompetition,damagetotheCompany'sinterestsorotherimproperpurposes.TheCompanyshallgiveareplywithin10workingdaysfromthedateofreceivingtheshareholder'swrittenrequestandtheabove-mentionedmaterials.Afterverifyingtheshareholder'sidentityandconfirmingthepurposeoftheapplication,iftheCompanyapprovestheshareholder'srequesttoconsultorcopytherelevantmaterials,itshall,notifytheshareholdertoconducton-siteinspectionattheplacedesignatedbytheCompanyaftersigningaconfidentialityagreement.Iftheshareholderneedstocopytherelevantmaterials,itshallobtainthepriorconsentoftheCompanyandmakethecopyonthecompany'spremises.IftheCompanyhasreasonablegroundstobelievethattheshareholder'sconsultingorcopyingoftheCompany'srelevantmaterialsisnotrelevanttotheshareholder'slegitimaterightsandinterests,orthattheshareholderhasimproperpurposeswhichmaydamagetheCompany'slegitimateinterests,theCompanymayrejecttherequestandexplainthereasonstotheshareholder.Fromthetimetheshareholdersubmitstheapplicationtothedaywhentherelevantmaterialsareformallyconsultedorcopied,theshareholdershallcontinuouslymeettherequirementsonshareholdingratioandshareholdingperiodforshareholderstohavetherighttoconsultandcopyrelevantmaterialsasstipulatedinlawsandadministrativeregulationssuchastheCompanyLawandtheSecuritiesLaw.Article35Wheretheresolutionsadoptedbytheshareholders’meetingandthemeetingoftheboardofdirectorsviolatelawsandadministrativeregulations,theshareholdersshallbeentitledtorequestjudgmentbythepeople'scourtthatsuchresolutionsarenullandvoid.Wheretheconveningproceduresandvotingmethodsoftheshareholders’meetingandboardofdirectorsviolatelaws,administrativeregulationsortheseArticlesofAssociation,orthecontentsoftheresolutionsadoptedbytheshareholders’meetingandthemeetingoftheboardofdirectorscontravenetheseArticlesofAssociation,theshareholdersshallbeentitledto,within60daysfromthedateofsuchresolutionsaremade,requesttheirrevocationbythepeople'scourt,exceptwheretheconveningproceduresorvotingmethodofashareholders'meetingoraboardmeetinghasonlyminordefectwhichdoesnothaveasubstantialimpactontheresolution.Wheretherelevantpartiessuchastheboardofdirectors,theshareholdersetc.disputeoverthevalidityofresolutionpassedbytheshareholders'meeting,theyshallpromptlyfilealawsuitwithapeople'scourt.Beforethepeople'scourtmakesa

judgmentorrulingonrevocationoftheresolution,therelevantpartiesshallimplementtheresolutionpassedbytheshareholders'meeting.TheCompany,itsdirectorsandseniorexecutivesshallperformtheirdutiespragmaticallyandensurenormaloperationsoftheCompany.Wherethepeople'scourthasmadeajudgmentorrulingontherelevantmatter,theCompanyshallperforminformationdisclosureobligationpursuanttotheprovisionsoflaws,administrativeregulations,theCSRCandtheStockExchanges,provideadequateexplanationontheimpactandactivelycooperateinenforcementofthejudgmentorrulinguponitsvalidity.Whereacorrectionofpreliminarymatterisinvolved,thecorrectionshallbepromptlymade,andthecorrespondinginformationdisclosureobligationshallbeperformed.Article36Underanyofthefollowingcircumstances,aresolutionpassedbyashareholders'meetingoraboardmeetingisnotvalid:

(1)theresolutionispassedwithoutholdingashareholders'meetingoraboardmeeting;

(2)theresolutionisnotvotedonatashareholders'meetingoraboardmeeting;

(3)thenumberofpersonspresentatthemeetingorthenumberofvoteshelddoesnotattainthenumberstipulatedintheCompanyLawortheArticlesofAssociation,orthenumberofvotesheld;or

(4)thenumberofpersonswhoconsenttotheresolutionorthenumberofvoteshelddoesnotattainthenumberstipulatedintheCompanyLawortheArticlesofAssociation,orthenumberofvotesheld.Article37Wherethedirectorsandtheseniorexecutivesotherthantheauditcommitteemembersviolateanylaws,administrativeregulationsoranyofArticlesofAssociationinfulfillingtheirdutiesandtherebycauselossestotheCompany,theshareholderswhoformorethan180consecutivedaysholdsinglyorjointlyover1%oftheCompany'ssharesshallbeentitledtorequestinwritingtheauditcommitteetofileasuitwiththepeople'scourt;whereamemberoftheauditcommitteeviolatesanylaws,administrativeregulationsoranyofArticlesofAssociationinfulfillingitsdutiesandtherebycauseslossestotheCompany,theaforesaidshareholdersmayrequestinwritingtheboardofdirectorstofileasuitwiththepeople'scourt.Wheretheauditcommitteeortheboardofdirectorsrefusetofilelawsuitsafterhavingreceivedawrittenrequestfromtheshareholdersasdescribedintheprecedingparagraph,orfailtofileasuitwiththepeople'scourtwithin30daysaftertheirreceiptofsuchrequests,orunderanyemergency,failuretoimmediatelyfilelawsuitsmaypossiblycauseirreparablelossestotheCompany,theshareholdersasprescribedin

theprecedingparagraphshallbeentitledtofilesuitsdirectlytothepeople'scourtintheirownnames.WheretheinfringementofthelawfulrightsandinterestsoftheCompanybyanyotherpersonhascausedlossestotheCompany,theshareholdersasprescribedinthefirstparagraphofthisArticlemayinlinewiththeprovisionsdescribedundertheprecedingtwoparagraphsfileasuitwiththepeople'scourt.Whereadirectororseniorexecutiveofawholly-ownedsubsidiaryoftheCompanywhenperforminghis/herdutiescontravenesthelaws,administrativeregulations,ortheArticlesofAssociation,resultinginlossestotheCompany,oranotherpersoninfringesuponthelegalrightsandinterestsofawholly-ownedsubsidiaryoftheCompany,resultinginlosses,ashareholderindividuallyorjointlyholding1%ormoreofthesharesoftheCompanyformorethan180consecutivedaysmay,accordingtothefirstthreeparagraphsofArticle189oftheCompanyLaw,requestinwritingthedirectorsorboardofdirectorsofthewholly-ownedsubsidiarytofilealawsuitwithapeople'scourtormaydirectlyfilealawsuitwiththepeople'scourtinhis/herownname.Article38Wheretheviolationoflaws,administrativeregulationsortheprovisionshereofbythedirectorsandseniorexecutiveshascausedlossestotheshareholders,theshareholdersmayfileasuitwiththepeople'scourt.Article39TheshareholdersoftheCompanyshallbearthefollowingobligations:

(1)observinglaws,administrativeregulations,andtheseArticlesofAssociation;

(2)payingthecapitalaccordingtothesharessubscribedbythemandthemethodoftheircapitalcontributions;

(3)nottowithdrawtheirsharesunlessotherwisespecifiedbylaws,rulesandregulations;and

(4)nottoabuseshareholder'srightstoharmtheinterestsoftheCompanyorother

shareholders;nottoabusetheindependentlegalpersonstatusoftheCompanyandthelimitedliabilitiesofshareholderstoharmtheinterestsofthecreditorsoftheCompany;

(5)otherobligationswhichshallbeborninlinewiththelaws,administrativeregulationsandtheprovisionshereof.Article40WhereabusebytheCompany'sshareholdersoftheirrightshascausedlossestotheCompanyorothershareholders,suchshareholdersshallbearthe

compensationliabilitiesinaccordancewiththelaw.WheretheabusebytheCompany'sshareholdersoftheCompany'sindependentlegalpersonstatusandtheshareholders'limitedliabilities,forevasionoftheirdebts,hasseriouslydamagedtheinterestsofthecreditors,suchshareholdersshallbearseveralandjointliabilitiesforthedebtsoftheCompany.Section2ControllingShareholdersandActualControllersArticle41ControllingshareholdersandactualcontrollersoftheCompanyshallexercisetheirrightsandperformtheirobligationsinaccordancewiththelaws,administrativeregulations,theprovisionsoftheCSRCandtheStockExchangestoprotecttheinterestsoftheCompany.Article42ControllingshareholdersandactualcontrollersoftheCompanyshallcomplywiththefollowingprovisions:

(1)exercisingshareholder'srightsinaccordancewiththelaw,notabusingthecontrollingrightormakinguseofrelated-partyrelationshipstodamagethelegitimaterightsandinterestsoftheCompanyorothershareholders;

(2)strictlyperformingthedeclarationsandvariouscommitmentsmade,withoutunauthorizedalterationorexemption;

(3)performinginformationdisclosureobligationsstrictlyinaccordancewiththerelevantprovisions,takingtheinitiativetocooperatewiththeCompanyininformationdisclosureandnotifyingtheCompanypromptlyofmaterialeventswhichhaveoccurredorwilloccur;

(4)notoccupyingtheCompany'sfundsinanyway;

(5)notcompelling,instigatingorrequestingtheCompanyanditsrelevantpersonneltoprovideguaranteeinviolationoflawsandregulations;

(6)notmakinguseoftheCompany'sundisclosedmaterialinformationtoseekgains,notdivulgingundisclosedmaterialinformationrelatingtotheCompanyinanyway,andnotengagingininsidertrading,short-swingtradingandmarketmanipulationorotheractsinviolationoflawsandregulations;

(7)notimpairingthelegitimaterightsandinterestsoftheCompanyandothershareholdersthroughunfairrelated-partytransactions,profitdistribution,assetrestructuring,outboundinvestmentorothermeans;

(8)ensuringtheintegrityoftheCompany'sassets,staffindependence,financialindependence,organizationalindependenceandbusinessindependence,andnotaffectingtheCompany'sindependenceinanyway;and

(9)otherprovisionsoflaws,administrativeregulations,theprovisionsoftheCSRC,thebusinessrulesoftheStockExchangesandtheArticlesofAssociation.WherethecontrollingshareholdersandactualcontrollersoftheCompanyinstructthedirectorsandseniorexecutivestodamagetheinterestsoftheCompanyorshareholders,theyshallbearjointandseveralliabilitywiththedirectorsandseniorexecutives.Article43ThetransactionbetweentheCompanyandthecontrollingshareholdersoractualcontrollersregardingprovisionoffunds,commoditiesandservicesandotherassetshallstrictlycomplywithdecision-makingproceduresofaffiliatetransactionandfulfillingexaminationanddeliberationprocedureoftheboardofdirectorsandshareholders’meeting,theaffiliateddirectorandshareholdershallwithdrawfromvoting.TheCompanyshallnotprovidefunds,commodities,servicesorotherassettotheshareholderandactualcontrollerwithoutconsiderationoronmanifestlyunfairterms;orprovideguaranteetoashareholderoractualcontrollerthatisnoticeablyunabletomakerepayment;orprovidguaranteetoashareholderoractualcontrollerwithoutjustifiablereasons;orrelinquishdebtagainstashareholderoractualcontrollerwithoutjustifiablereasons;orassumedebtsofashareholderoractualcontrollerwithoutjustifiablereasons.ThedirectorsandseniorexecutivesoftheCompanyshallhavetheobligationtoprecludetheassetoftheCompanyfrombeingoccupiedbyacontrollingshareholderoritsaffiliatedenterprise.WherethedirectorsandseniorexecutivesoftheCompanyassistandconniveacontrollingshareholderoritsaffiliatedenterprisetomisappropriatetheassetoftheCompany,theboardofdirectorsoftheCompanyshall,inthelightoftheseriousnessofthecircumstances,circulateanoticeofcriticismorwarnagainstthedirectresponsibleperson,andsubmittheissueofwhethertoremoveadirectorwhobearsseriousresponsibilitytotheshareholders’meetingforvote.TheboardofdirectorsoftheCompanyshallestablishthemechanism“freezinguponembezzlement”applicabletothesharesheldbythecontrollingshareholder,namely,incasethatthecontrollingshareholderanditssubsidiariesarediscoveredtoembezzletheCompany’sassets,anapplicationshallbeimmediatelysubmittedtothejudicialauthoritypursuanttothelawforthejudicialfreezingofthesharesheldbythecontrollingshareholdersothattheembezzledassetswhichcannotberecoveredincashmayberecoveredthroughthesaleofthefrozenshares.ThechairmanoftheboardofdirectorsoftheCompanyshallbethepersonundertakingtheprimaryresponsibilitiesforthemechanism“freezinguponembezzlement”,andtheChiefFinancialOfficer,thesecretaryoftheboardofdirectorsshallassistthechairpersonoftheboardofdirectorsinconductingtheworkof“freezinguponembezzlement”

Thespecificimplementingproceduresareasfollows:

1.TheChiefFinancialOfficer,upondiscoveringthatacontrollingshareholder

misappropriatetheassetoftheCompany,shallreporttothechairmanoftheboardofdirectorsinwritingonthesamedayofsuchdiscovery;wherethechairmanoftheboardofdirectorsisacontrollingshareholder,theChiefFinancialOfficershallreporttothechairmanoftheboardofdirectors,and,atthesametime,reporttothesecretaryoftheboardofdirectorsandchairpersonoftheauditcommitteeinwritingonthedayofdiscoveringthatacontrollingshareholdermisappropriatedtheassetoftheCompany;thecontentofthereportshallincludethenameofthecontrollingshareholderwhichoccupiestheasset,thenameoftheoccupiedasset,thetimeperiodofoccupation,theamountofmoneyinvolvedandestimatedtermofcompensation,etc.;whereitisdiscoveredthatadirectororseniorexecutiveassistorconniveacontrollingshareholderoritsaffiliatedenterprisetomisappropriatetheassetoftheCompany,theChiefFinancialOfficershallspecifythenameandthecircumstancesofassistanceandconnivancetothecontrollingshareholderoritsaffiliatedenterprisetomisappropriatetheassetoftheCompanyofthedirectororseniorexecutiveinvolvedinthewrittenreport.

2.Thechairmanoftheboardofdirectorsshallurgethesecretaryoftheboardofdirectorstoinformthedirectorsinwritingorbyemailandconveneaninterimmeetingoftheboardofdirectorstoexamineanddeliberatethetermofcompensationforthecontrollingshareholder,thedecisionofpunishmentagainsttheresponsibledirectororseniorexecutiveandapplicationforfreezeofthesharesofthecontrollingshareholderwithjudicialdepartment,etc.accordingtothewrittenreportoftheChiefFinancialOfficer;ifthechairmanoftheboardofdirectorsisacontrollingshareholderoracontrollingshareholderofacontrollingshareholderoftheCompany,thesecretaryoftheboardofdirectorsshallimmediatelyinformthedirectorsinwritingorbyemailfollowingthereceiptofthewrittenreportoftheChiefFinancialOfficerandconveneaninterimmeetingoftheboardofdirectorsaccordingtotheCompanyLawandtheseArticlesofAssociationtoexamineanddeliberatethetermofcompensationforthecontrollingshareholder,thedecisionofpunishmentagainstresponsibledirectororseniorexecutiveandapplicationforfreezeofthesharesofthecontrollingshareholderwithjudicialdepartment,etc.,andaffiliateddirectorsshallwithdrawfromexaminationanddeliberation;fordirectorswhobearsseriousresponsibility,theboardofdirectorsshallsubmitthemtoshareholders’meetingforvoteafterexamininganddeliberatingrelevantpunishmentdecision.

3.Thesecretaryoftheboardofdirectorsshallsendcompensationnoticewithin

giventimeperiodtothecontrollingshareholder,executethepunishmentdecisionagainstrelevantdirectororseniorexecutive,andapplyforjudicialfreezeofthe

sharesofthecontrollingshareholderwithjudicialdepartment,etc.andconductinformationdisclosurethereofaccordingtotheresolutionoftheboardofthedirectors;theCompanyandtheboardofdirectorsoftheCompanyshallprovideconveniencetothesecretaryoftheboardofdirectorsforthesaiditems,includingissuingletterofauthorization,provideguaranteeforjudicialfreeze,approvethesecretaryoftheboardofdirectorstoengageprofessionalpartiestoassistandbearthecost,etc.;thesecretaryoftheboardofdirectorsshallinformthedirectorwhobearsseriousresponsibilityintimeafterrelevantitemsareexamined,deliberatedandapprovedbytheshareholders’meeting,anddraftrelevantpunishmentdocumentsandhandlewithrelevantprocedures.

4.Ifthecontrollingshareholderfailstocompensatewithinthegiventimeperiod,

theCompanyshallapplyrelevantjudicialdepartmenttorealizethesharesfrozentocompensatethemisappropriatedassetwithin30daysaftertheexpirationofthegiventimeperiod,andthesecretaryoftheboardofdirectorsshallconductrelevantinformationdisclosure.Article44WherecontrollingshareholdersandactualcontrollerspledgetheCompany'ssharesheldoractuallycontrolledbythem,theyshallmaintainthecontroloftheCompanyandthestabilityofproductionandoperation.Article45AnycontrollingshareholderoractualcontrollerthattransfersCompanysharesheldbyitshallabidebyanyrestrictiveprovisionsonsharetransferssetforthinlaws,administrativeregulations,therulesoftheCSRCandtheStockExchanges,andanycommitmentitmakeswithrespecttotherestrictedsharetransfers.Section3GeneralProvisionsofShareholders’MeetingsArticle46Theshareholders'meetingoftheCompanyiscomposedofallshareholders.Theshareholders’meetingistheorganofpoweroftheCompanyandshallexercisethefollowingpowersandfunctions:

(1)electingandreplacingthepostsofthedirectors,anddecidingontheremunerationsofsuchdirectors;

(2)examining,deliberatingandapprovingtheboardofdirectors'report;

(3)examining,deliberatingandapprovingtheCompany'sprofitdistributionplanandplantorecovertheCompany'slosses;

(4)adoptingresolutionsonincreaseordecreaseintheCompany'sregisteredcapital;

(5)adoptingresolutionsonissuanceoftheCompanybonds;

(6)adoptingresolutionsonthemerger/consolidation,spin-off,dissolution,liquidationorchangeofCompanytypeoftheCompany;

(7)amendingtheseArticlesofAssociation;

(8)makingresolutionsontheappointmentordismissalbytheCompanyofanaccountingfirmthatundertakestheauditingoftheCompany;

(9)examining,deliberatingandapprovingtheguaranteeparticularsprescribedinArticle47hereof;

(10)examining,deliberatingmattersregardingthepurchaseandsaleswithinoneyear

bytheCompanyofmajorassetswhichexceed30%ofthelatestauditedtotalassetsoftheCompany;

(11)examining,deliberatingandapprovingchangesintheusageofthefundsraised;

(12)examininganddeliberatingthestockincentiveplanandemployeestockownershipplans;and

(13)examininganddeliberatingothermatterswhichshallbedecidedbytheshareholders’meetingsaccordingtothelaws,administrativeregulations,regulationsofministriesandcommissionsorprovisionshereof.Ashareholders'meetingmayauthorizetheboardofdirectorstodecideontheissuanceofcompanybonds.Article47ThebelowlistedexternalguaranteeoftheCompanyshallbeapprovedbytheshareholders’meetingafterexaminationanddeliberation:

(1)AnyguaranteemadebytheCompanyafterthetotalamountofexternalguaranteesofferedbytheCompanyandanyoftheCompany'scontrolledsubsidiariesexceeds50%ofthelatestauditednetassets;

(2)AnyguaranteemadebytheCompanyafterthetotalamountofexternalguaranteesofferedbytheCompanyandanyoftheCompany'scontrolledsubsidiariesexceeds30%ofthelatestauditedtotalassets;

(3)TheamountofexternalguaranteesprovidedbytheCompanytootherswithinoneyearexceeds30%oftheCompany'slatestauditedtotalassets;

(4)Anyguaranteeprovidedtoanypartywhoseasset-liabilityratioexceeds70%;

(5)Anysingleguaranteewithamountexceeding10%ofthelatestauditednetassets;or

(6)Anyguaranteeprovidedtotheshareholders,theactualcontrollersortheiraffiliatedparties.IftheCompany'sexternalguaranteeviolatestheapprovalauthorityanddeliberationprocedure,causinglossestotheCompany,therelevantresponsiblepersonshallbeartheresponsibilityofcompensation,andtheCompanywillgivetherelevantresponsiblepersoncorrespondingpunishmentaccordingtotheeconomiclosssufferedbytheCompanyandtheseverityofthesituation.Article48Therearetheannualshareholders’meetingandtheinterimshareholders’meeting.Theannualshareholders’meetingshallbeheldonceayear,andwithinsixmonthsfromtheendofthelastfiscalyear.Article49Theinterimshareholders’meetingshallbeheldbytheCompanywithintwomonthsofwhenoneofthefollowingcircumstancesoccurs:

(1)ThenumberofdirectorsislessthanthenumberstipulatedundertheCompany

Lawor2/3ofthenumberofdirectorsinArticle110ofthisAOA;

(2)Thenumberofindependentdirectorsislessthan1/3ofthenumberofall

directors;

(3)UnrecoveredCompanylosseshavereached1/3ofthetotalamountofthecapital;

(4)Shareholdersthatseparatelyorjointlyholdmorethan10%oftheCompany'ssharesrequesttoholdaninterimshareholders’meeting;

(5)Theboardofdirectorsdeemsitnecessarytoholdaninterimshareholders’

meeting;

(6)Theauditcommitteeproposestoholdaninterimshareholders’meeting;or

(7)Othercircumstancesprescribedinlaws,administrativeregulations,regulationsofministriesandcommissionsortheseArticlesofAssociation.Article50Thelocationoftheshareholders’meetingshallbethedomicileoftheCompanyorotherplaceassetforthinthenoticeoftheshareholders’meeting.Theshareholders'meetingwillbeon-sitemeeting.TheCompanywillalsoprovideonlinevotingtofacilitatetheshareholdersinattendingthemeeting.Ifshareholders

attendtheshareholders'meetingbytheaforesaidmeans,theyshallbedeemedtohavebeenpresent.Article51TheCompanyshallengagealawfirmtoissuelegalopinionsonthefollowingmatterswhenholdingtheshareholders’meeting:

(1)Whethertheconventionofthemeetingandholdingproceduresareinlinewith

laws,administrativeregulations,andtheprovisionshereof;

(2)Whetherthequalificationsoftheattendeesandconvenerarelawfulandeffective;

(3)Whetherthevotingproceduresandresultsofthemeetingarelawfulandeffective;and

(4)LegalopinionsissuedupontherequestoftheCompanyonotherrelevantissues.Section4ConveningofShareholders’meetingsArticle52Theboardofdirectorsshallconveneashareholders'meetingwithintheprescribedperiod.Uponconsentbymorethanhalfofalltheindependentdirectors,theindependentdirectorsshallhavetherighttoproposetheconveningoftheinterimshareholders’meetingtotheboardofdirectors.Withregardtosuchproposal,theboardofdirectorsshall,inaccordancewiththeprovisionsofthelaws,administrativeregulations,andprovisionsoftheseArticlesofAssociation,provideitsfeedbackinwritingonapprovalordisapprovalwithin10daysfromthedateofthereceiptofthesaidproposal.Wheretheboardofdirectorsapprovestheconveningoftheinterimshareholders’meeting,itshallgivenoticethereofwithinfivedaysafterthesaidapprovalresolutionoftheboardofdirectors;otherwise,thereasonsforsuchdisapprovalshallbestatedandannounced.Article53Theauditcommitteeshallhavetherighttoproposetheconveningoftheinterimshareholders’meetingandshallsubmititsproposaltotheboardofdirectorsinwriting.Theboardofdirectorsshall,inaccordancewiththeprovisionsofthelaws,administrativeregulationsandtheseArticlesofAssociation,providefeedbackinwritingonapprovalordisapprovalwithin10daysfromthedateofthereceiptofthesaidproposal.Wheretheboardofdirectorsapprovestheconveningofinterimshareholders’

meetings,itshallsendanoticethereofwithinfivedaysaftertheapprovalresolutionoftheboardofdirectors.Wherethenoticechangestheoriginalproposal,theapprovaloftheauditcommitteeshallberequired.Wheretheboardofdirectorsdisapprovestheconveningoftheinterimshareholders’meetingorfailstoprovideitsfeedbackwithin10daysfromthedateofthereceiptofthesaidproposal,itshallbedeemedincapableorfailtofulfilltheobligationofconveningtheshareholders’meeting;theauditcommitteemaytherebyconveneandpresideoverthemeetingonitsown.Article54Theshareholderssinglyorjointlyholdingmorethan10%ofthesharesoftheCompanyshallproposeinwritingtotheboardofdirectorstheconveningoftheinterimshareholders’meeting.Theboardofdirectorsshall,inaccordancewiththeprovisionsinlaws,administrativeregulationsandtheseArticlesofAssociation,providefeedbackinwritingontheapprovalordisapprovalwithin10daysfromthedateofthereceiptofsuchproposal.Wheretheboardofdirectorsapprovestheconveningoftheinterimshareholders'meeting,itshall,withinfivedaysaftertheapprovalresolutionoftheboardofdirectors,givenoticethereof.Wherethenoticealterstheoriginalproposal,theapprovaloftherelevantshareholdersshallberequired.Wheretheboardofdirectorsdisapprovestheconveningoftheinterimshareholders'meetingorfailstoprovidefeedbackwithin10daysfromthedateofthereceiptofthesaidproposal,theshareholderswhichsinglyorjointlyholdmorethan10%ofthesharesoftheCompanyshallproposeinwritingtheconveningoftheinterimshareholders’meetingtotheauditcommitteeandshallraisetheirrequestinwritingtotheauditcommittee.Wheretheauditcommitteeapprovestheconveningoftheinterimshareholders’meeting,itshallwithinfivedaysfromthedateofthereceiptofthesaidwrittenrequestgivenoticethereof.Ifthenoticechangestheoriginalproposal,theapprovaloftherelevantshareholdersshallberequired.Wheretheauditcommitteefailstosendthesaidnoticewithintheprescribedtimelimit,itshallbedeemedthattheyfailedtoconveneandpresideovertheshareholders’meetingandshareholderswhichsinglyorjointlyholdmorethan10%oftheCompany'ssharesformorethan90consecutivedaysmayconveneandpresidethemeetingindependently.Article55Wheretheauditcommitteeortheshareholdersdecidetoconvenetheshareholders'meetingindependently,theyshallnotifytheboardofdirectorsinwritingtosucheffectandfilewiththestockexchange.

Theauditcommitteeortheconveningshareholdersshall,uponsendingthenoticeoftheshareholders’meetingandannouncingtheresolutionsoftheshareholders’meeting,submitrelatedcertificatestothestockexchange.Priortotheannouncementoftheresolutionoftheshareholders’meeting,thetotalsharesoftheconveningshareholdersshallnotbelessthan10%.Article56Withrespecttoshareholders’meetingsindependentlyconvenedbytheauditcommitteeortheshareholders,theboardofdirectorsandthesecretaryoftheboardofdirectorsshallgivetheircooperation.Theboardofdirectorsshallprovidetheregisterofshareholdersofequityregistrationdate.Article57Wheretheshareholders’meetingisheldindependentlybytheauditcommitteeorshareholders,allnecessarycostsandexpensesofthemeetingshallbebornebytheCompany.Section5ProposalandNoticeofShareholders’meetingsArticle58Thecontentsofaproposalshallbeamongstthefunctionsandpowersoftheshareholders’meeting,havecleartopicsfordiscussionanddetailedresolutionmatters,andbeinlinewiththerelevantprovisionsofthelaws,administrativeregulationsandtheseArticlesofAssociation.Article59WheretheCompanyholdstheshareholders’meeting,theboardofdirectors,theauditcommitteeandtheshareholdersthatsinglyorjointlyholdmorethan1%oftheCompany'ssharesshallhavetherighttoraiseproposalstotheCompany.Theshareholdersthatsinglyorjointlyholdmorethan1%oftheCompany'ssharesmay,10dayspriortotheconventionoftheshareholders’meeting,raisetheinterimproposalsandsubmittheminwritingtotheconvener.Theconvenershall,withintwodaysafterreceiptofsuchproposals,issueasupplementarynoticeoftheshareholders’meeting,andannouncethecontentsoftheinterimproposalsandsubmittheinterimproposalstotheshareholders'meetingfordeliberation,exceptwhereinterimproposalscontravenetheprovisionsoflaws,administrativeregulations,ortheArticlesofAssociationordonotfallwithinthescopeofdutiesandpowersoftheshareholders'meeting.Exceptforthecircumstancesprescribedintheprecedingparagraph,theconvener,afterhavingissuedthenoticeoftheshareholders’meeting,shallnotamendproposalswhichhavebeenexpresslysetoutoraddnewproposaltothesaidnotice.

ProposalswhicharenotlistedinthesaidnoticeorareinconsistentwiththeArticlesofAssociationshallnotbevotedonorresolvedontheshareholders’meeting.Article60Fortheannualshareholders’meeting,theconvenershallbyannouncementnotifyalltheshareholders20dayspriortotheconventionofthesaidmeeting.Fortheinterimshareholders’meeting,theconvenershallbyannouncementnotifyalltheshareholders15daysinadvance.Whencalculatingthenoticeperiod,thedaywhenthemeetingisheldshallnotbeincluded.Article61Thenoticeoftheshareholders’meetingshallincludethefollowingcontents:

(1)time,placeandtimelimitoftheshareholders’meeting;

(2)mattersandproposalssubmittedtotheshareholders’meetingforitsexaminationanddeliberation;

(3)clearlywrittenexplanation:allshareholdersshallhavetherighttoattendthe

shareholders’meetingandmayinwritingentrusttheirproxiestoattendthemeetingandparticipateinvotes.TheproxiesoftheshareholdersmaynotnecessarilybetheshareholdersoftheCompany;

(4)equityregistrationdateofanyshareholderentitledtoattendtheshareholders’

meeting;

(5)nameandtelephonenumberofthecontactpersoninchargeofshareholders’

meetingmatters;and

(6)thetimeandprocedureofvotingonlineorbyanyothermeans.Article62Wheretheshareholders’meetingintendstodiscussmattersrelatedtotheelectionofdirectors,thenoticeoftheshareholders’meetingshallfullydisclosedetailedinformationaboutsuchdirectors,includingatleastthefollowingcontents:

(1)suchpersonalinformationastheeducationbackground,workingexperience,part-timejobandsoon;

(2)whetherthecandidatesfordirectorshaveaffiliatedrelationshipwiththeCompany

oritscontrollingshareholdersandtheactualcontrollers；

(3)thenumberofCompanysharesheldbythecandidatesfordirectors;and

(4)whethercandidatesfordirectorshavereceivedpunishmentsbytheCSRCorotherdepartmentsorwarningreprimandsfromthestockexchange.

Exceptfortheelectionofdirectorsbymeansofacumulativevotingsystem,eachdirectorcandidateshallbenominatedinasingleproposal.Article63Oncethenoticeoftheshareholders’meetingisissued,theshareholders’meetingshallnotbepostponedorcanceledwithoutjustifiablecause,norshalltheproposalssetoutintheshareholders’meetingnoticebecanceled.Inthecaseofthesaidpostponementorcancellation,theconvenershallmakeanannouncementstatingreasonsforsuchpostponementorcancellationatleasttwoworkingdaysinadvanceoftheoriginaldateforholdingtheshareholders’meeting.Section6HoldingofShareholders’MeetingsArticle64TheboardofdirectorsandotherconvenersoftheCompanyshalltakenecessarymeasurestoensurethenormalorderoftheshareholders’meetings.TheboardofdirectorsandotherconvenersoftheCompanyshalltakemeasurestopreventactswhichinterferewiththeshareholders’meeting,causedisturbanceorinfringeonthelawfulrightsoftheshareholders,andshallpromptlyreportsuchactstotherelevantdepartmentsforinvestigationandpunishment.Article65Allshareholdersrecordedintheregisterofshareholdersontheequityregistrationdateortheirproxiesshallhavetherighttoattendtheshareholders’meetingandexercisetheirvotingrightsinaccordancewiththerelevantlaws,rulesandtheseArticlesofAssociation.Ashareholdermayattendtheshareholders'meetinginpersonorappointaproxytoattendorvoteonhis/herbehalf.Theintervalbetweentheequityregistrationdateandthedateofmeetingshallnotbemorethansevenworkingdays.Theequityregistrationdateshallnotbechangedonceitisdetermined.Article66Wheretheindividualshareholderspersonallyattendtheshareholders’meeting,theyshallpresenttheiridentificationcardsorothervalidcertificateswhichverifytheiridentities;wheretheindividualshareholdersentrusttheirproxiestoattendthemeetingontheirbehalf,saidproxiesshallpresenttheirvalididentitycertificatesandthepowerofattorneyfromtheshareholder.Inthecaseoflegalpersonshareholders,theirlegalrepresentativesorproxiesentrustedbysuchlegalrepresentativesshallattendthemeeting.Thelegalrepresentatives,ifattendingthemeeting,shallpresenttheiridentificationcardsandvalidcertificateswhichverifytheirqualificationsaslegalrepresentative;whereproxiesareentrustedbysuchlegalrepresentativestoattendthemeeting,suchproxiesshallpresenttheiridentificationcards,andthewrittenpowerofattorneyasissued

legallybythelegalrepresentativesofthelegalpersonshareholders.Article67Thepowerofattorney,asissuedbytheshareholders,shallindicatethatproxiesareentrustedtoattendtheshareholders’meetingandshallcontainthefollowingitems:

(1)nameortitleoftheprincipal,andthetypeandnumberofsharesheld;

(2)thenameortitleofeachproxy;

(3)specificinstructionsgivenbytheshareholder,includinginstructionsforaffirmative,negativeorabstentionvoteuponeverymatterwhichislistedintheagendaofandshallbeexaminedanddeliberatedattheshareholders’meeting;

(4)issuingdateandtermofvalidityofthepowerofattorney;

(5)signature(orseal)oftheprincipal.Wheretheprincipalisalegalpersonshareholder,theofficialsealofthelegalpersonshareholdershallbeaffixed.Article68Wherethepowerofattorneygrantedforvotingbyproxyissignedbyapersonentrustedbytheprincipal,theauthorizationlettersignedbyauthorizationorotherauthorizationdocumentsshallbenotarized.Thenotarizedauthorizationletterorotherauthorizationdocuments,aswellasthepowerofattorneygrantedforvotingbyproxyshallbekeptatthedomicileoftheCompanyoratanyotherplaceprescribedintheNoticeforconveningtheshareholders’meeting.Article69Theregisterofattendantsoftheshareholders’meetingshallbepreparedbytheCompany.Theregistershallexpresslyrecordsuchmattersasthenameoftheattendant(oroftheunitthereof),theidentificationcardnumber,thenumberofvotingsharesheldorrepresentedbytheattendant,andthenameoftheprincipal(ortheunitthereof).Article70TheconvenerandthelawyerengagedbytheCompanyshall,inaccordancewiththeregisterofshareholdersprovidedbyShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited,jointlyverifythelegalityofthequalificationofeachshareholder,andregisterthefullnameofandnumberofvotingsharesheldbyeachshareholder.Priortotheannouncementbythepresiderofthetotalnumberofshareholderswhoattendtheon-siteshareholders’meetingandthetotalnumberofthevotingsharesheldbytheattendingshareholdersandproxies,theregistrationshallbeceased.Article71Iftheshareholders'meetingrequiresthedirectorsandseniorexecutivestoattendthemeetingwithoutvotingrights,thedirectorsandseniorexecutivesshallattendthemeetingwithoutvotingrightsandanswertheshareholders'

inquiries.Article72Theshareholders’meetingshallbepresidedoverbythechairmanoftheboardofdirectors.Wherethechairmanisunabletoorfailstoperformhisduties,theshareholders’meetingshallbepresidedoverbyadirectorjointlyelectedbymorethanhalfofthedirectors.Ifindependentlyconvenedbytheauditcommittee,theshareholders’meetingshallbepresidedoverbytheconveneroftheauditcommittee.Wheretheconveneroftheauditcommitteeunabletoorfailstoperformhisduties,theshareholders’meetingshallbepresidedoverbyamemberoftheauditcommitteejointlyelectedbymorethanhalfofthemembersoftheauditcommittee.Shareholders’meetingsindependentlyconvenedbytheshareholdersshallbepresidedoverbytheconvenerortherepresentativeappointedthereby.Wherethepresiderviolatestheproceduralruleswhiletheshareholders’meetingisbeingheldsothatthemeetingisunabletocontinue,apresidermay,withtheapprovalbymorethanhalfoftheshareholderswithvotingrightspresentatthemeeting,beelectedbytheshareholders’meetingtopresidethemeeting.Article73TheCompanyshallformulatetheproceduralrulesoftheshareholders’meeting,whichshallprescribethedetailedholdingandvotingproceduresofsaidmeeting,includingthenotice,registration,examinationanddeliberationofproposals,ballot,votecalculation,announcementofvotingresults,formulationofmeetingresolutions,meetingminutesandsignature,announcementandotheritems,aswellastheprinciplesbywhichtheshareholders’meetingauthorizestheboardofdirectors.Theauthorizedcontentshallbedefiniteandspecific.Theproceduralrulesoftheshareholders’meetingshallbeattachedasanappendixtotheCompany'sArticlesofAssociationandshallbedraftedbytheboardofdirectorsandapprovedbytheshareholders’meeting.Article74Theboardofdirectorsshall,attheannualshareholders’meeting,reporttheirworkforthelastyeartosuchmeeting.Eachindependentdirectorshallalsoreporthiswork.Article75Directorsandseniorexecutivesshallattheshareholders’meetinggiveexplanationsandclarificationsontheinquiriesandrecommendationsraisedbytheshareholders.Article76Thepresideroftheshareholders’meetingshall,priortovote,announcethetotalnumberofattendingshareholdersandproxies,andthetotalvotingsharesheldbythem.Thetotalnumberofattendingshareholdersandproxies,andthetotalvotingsharesheldbythemshallbesubjecttoregistrationbeforethe

shareholders’meeting.Article77Theshareholders’meetingshallhavemeetingminutesandtheseshallbetheresponsibilityofthesecretaryoftheboardofdirectors.Themeetingminutesshallrecordthefollowingitems:

(1)time,place,agenda,andnameoftheconvenerofthemeeting;

(2)nameofthepresiderandeachofthedirectorsandseniorexecutivewhositonthemeeting;

(3)totalnumberofvotingsharesheldbyshareholders(includingtheirproxies)bythedomesticsharesandshareholders(includingtheirproxies)ofdomesticallylistedforeign-fundedshares,andproportionofsuchtotalnumberintheCompany'sshares;

(4)examinationanddeliberationprocedure,mainspeechpointsandvotingresultofeachproposalbyshareholdersofthedomesticsharesandshareholdersofdomesticallylistedforeign-fundedshares;

(5)inquiriesorrecommendationsoftheshareholdersandtherelevantrepliesor

explanationsthereto;

(6)nameoflawyers,votecountersandvotesupervisor;and

(7)otheritemsshallberecordedinthemeetingminutesinaccordancewiththeprovisionshereof.Article78Theconvenershallensuretheauthenticity,accuracyandcompletenessoftheminutesoftheshareholders’meeting.Thedirectors,secretaryoftheboardofdirectors,convenerorrepresentativethereof,andthemeetingpresiderpresentatthemeetingwithorwithoutvotingrightsshallsignthemeetingminutes.Meetingminutesshall,togetherwiththeregisterofthepresentshareholdersandthepowersofattorneyforattendancebyproxy,andvalidmaterialsconcerningvotesthroughtheinternetandothermeansshallbekepttogetherforaperiodofnolessthantenyears.Article79Theconvenershallensurethecontinuityoftheshareholders’meetinguntilthefinalresolutionsareformed.Wheresuchspecificreasonsasforcemajeureorotherspecialcausesresultinthesuspensionoftheshareholders’meetingorthefailuretoadoptaresolutionatthemeeting,thenecessarymeasuresshallbetakentoresumetheshareholders’meetingassoonaspossibleortodirectlyclosethemeetingandmakeanimmediateannouncement.AtthesametimetheconvenershallreporttotheCSRCofficeintheplacewheretheCompanyislocatedandthestockexchange.

Section7VoteandResolutionofShareholders’meetingsArticle80Thereshallbetwotypesofresolutionsoftheshareholders’meeting:

ordinaryresolutionandspecialresolution.Ordinaryresolutionsmadebytheshareholders’meetingshallrequiremorethanhalfofthevotingrightsrepresentedbytheattendingshareholders(includingproxiesthereof).Specialresolutionsmadebytheshareholders’meetingshallrequireatleast2/3ofthevotingrightsrepresentedbytheattendingshareholders(includingproxies).Article81Thefollowingmattersshallrequiretheapprovaloftheshareholders’meetingbyordinaryresolution:

(1)workreportoftheboardofdirectors;

(2)profitdistributionplanandplantorecoverCompanylossesasdraftedbytheboardofdirectors;

(3)appointmentanddismissalofmembersoftheboardofdirectors,remunerationstothemandthemethodforpaymentofsuchremunerations;and

(4)othermatterswhichshallbepassedbyspecialresolutioninaccordancewiththe

provisionsofthelaws,administrativeregulationsortheseArticlesofAssociation.Article82Thefollowingmattersshallbepassedattheshareholders’meetingbyspecialresolution:

(1)increaseordecreaseintheregisteredcapitaloftheCompany;

(2)spin-off,split,merger/consolidation,dissolutionandliquidationoftheCompany;

(3)amendmenttotheseArticlesofAssociation;

(4)where,withintheperiodofoneyear,purchasesorsalesbytheCompanyorthe

amountoftheguaranteeprovidedbytheCompanytoothersexceeds30%ofthe

latestauditedtotalassetsoftheCompany;

(5)stockincentiveplan;and

(6)othermatterswhichareprescribedintheprovisionsofthelaws,administrative

regulationsortheseArticlesofAssociation,aswellasthematterswhicharedeemed,ifpassedbymeansofordinaryresolutionbytheshareholders’meeting,thattheymayhavesignificantpotentialinfluencesupontheCompanyandshallbepassedbyspecialresolution.Article83Shareholders(includingproxiesthereof)shallexercisetheirvotingrightsasrepresentedbythenumberofvotingsharesheldbythem,andeachshareshallhaveonevotingright.Thevotescastedbyminorityinvestorsshallbeseparatelycountedwhenmaterialmattersaffectingtheinterestsofminorityinvestorsarebeingexaminedanddeliberatedattheshareholders’meeting.Theresultsoftheseparatevote-countingshallbepubliclydisclosedinatimelymanner.ThesharesheldbytheCompanyshallhavenovotingrightsinthemselvesandshallnotbecalculatedintothetotalnumberofvotingsharesheldbytheattendingshareholders.WheretheshareholderviolatestheprovisionsofParagraphs1and2ofArticle63oftheSecuritiesLawinpurchasingvotingshares,thevotingrightofthepartthathasexceededtheprescribedproportionshallnotbeexercisedwithin36monthsafterthepurchase,andsuchpartofshareswillnotbeincludedinthetotalnumberofvotingsharesheldbytheattendingshareholders.Theboardofdirectors,independentdirectors,shareholdersholdingmorethan1%ofthevotingsharesortheinvestorprotectioninstitutionsstatutorilysetupmaypubliclycollectthevotingrightsofshareholders.Whensolicitingshareholders'votingrights,thespecificvotingintentandotherinformationshallbefullydisclosedtothesolicitedparty.Itisprohibitedtosolicitshareholders'votingrightsinapaidordisguisedpaidmanner.Exceptforthestatutorycriteria,thecompanyshallnotsetminimumshareholdingpercentagerestrictionsforsolicitationofvotingrights.Article84Theboardofdirectorsshalldecidewhethertherelevantitemsproposedtobesubmittedtotheshareholders’meetingforexaminationanddeliberationconstituteaffiliatedtransactionaccordingtothelaws,rulesandtheListingRulesofShenzhenStockExchange.Wheretheboardofdirectorsdecidethattheitemsproposedtobesubmittedtotheshareholders’meetingforexaminationanddeliberationconstituteaffiliatedtransaction,itshallinformtheaffiliatedshareholdersinwriting.Theboardofdirectorsshallcompletetheaforesaidworkbeforesendingthenoticeoftheshareholders’meetinganddisclosethedetailsoftheaffiliatedpartyinconnectionwiththeitemproposedtobesubmittedtotheshareholders’meetingforexamination

anddeliberation.Whentheshareholders’meetingexaminesanddeliberatesaffiliatedtransactions,theaffiliatedshareholdersshallsubmittheapplicationtorefrainfromvotinguponsuchaffiliatedtransactions,andotherpartiesshallhavetherighttorequiresuchshareholderstorefrainfromvoting.Theaffiliatedshareholdersmayexplainandclarifytheaffiliatedtransactionconcerningthemselvesandwhethersuchtransactionisfairandlegalandreasonthereoftotheshareholders’meeting,butsuchshareholdersshallnothaverighttovotewithregardtothisaffiliatedtransactionandthenumberofvotingrightsrepresentedbythemshallnotbecalculatedinthetotalnumberofvalidvotes;theannouncementoftheshareholders’meetingshallfullydisclosethevotesofthenon-affiliatedshareholders.Article85Exceptforunderunusualcircumstancessuchascrisisandotherwise,theCompanyshallnotsignacontractwithanypersonotherthanthedirectorsandseniorexecutives,whichspecifiestheentrustmentbytheCompanyofthemanagementofallorimportantbusinessestosuchperson.Article86Thenominationandelectionofnon-staffrepresentativedirectors.(I)Themethodsandproceduresofnominationandelection:

Theincumbentboardofdirectorsandshareholderswhichmeetcertainconditionsmaynominatecandidatesofdirectorsinaccordancewiththeprovisionsinlaws,administrativeregulationsandtheseArticlesofAssociation.

1.TheBoardofDirectorsoftheCompanyortheshareholderssinglyorjointly

holdingmorethan1%ofthesharesoftheCompanymaynominatecandidatestoserveasnon-independentdirectorswhoarenotemployeerepresentatives.

2.TheBoardofDirectorsoftheCompanyortheshareholderssinglyorjointly

holdingmorethan1%ofthesharesoftheCompanymaynominatecandidatestoserveasindependentdirectors.Aninvestorprotectioninstitutionestablishedinaccordancewiththelawsmaypubliclyrequestshareholderstoentrustittoexercisetherighttonominateindependentdirectorsontheirbehalf.Theabove-mentionednominatorsshallnotnominateindividualswithinterestsorothercloselyrelatedindividualswhomayaffectindependentperformanceasindependentdirectorcandidates.Thenominatorofanindependentdirectorshallnominatethenomineewithsuchnominee’spriorconsent.Thenominatorshalladequatelyunderstandtheprofession,academicqualifications,professionaltitles,detailedworkexperience,allpart-timejobsofthenomineeandwhetherthenomineehasanynegativerecordofmaterialdishonesty,andexpresshisopinionontheindependenceandotherqualificationsofthenominee’sservingasanindependentdirector,andthenomineeshallmakea

publicstatementonhisindependenceandotherqualificationsservingasanindependentdirector.Beforetheconveningoftheshareholders’meetingrelatingtotheelectionoftheindependentdirector,theboardofdirectorsshallannouncesaidcontentaccordingtorelevantregulations.

3.Inadditiontootheritemsprovidedinthisarticle,theboardofdirectorsshallannouncetheresumeandbasicinformationofeachcandidatedirectortotheshareholders.(II)ThemethodandproceduretovoteupontheelectionWhentheshareholders’meetingvotesupontheelectionofdirectorsinaccordancewiththeseArticlesofAssociationortheresolutionadoptedbytheshareholders’meeting,thecumulativevotingsystemmaybeused.Whenashareholders'meetingelectstwoormoredirectors,thecumulativevotingsystemshallbeadopted.The"cumulativevoting"statedintheprecedingparagraphshallmeanwhentheshareholders’meetingiselectingdirectors,eachshareshallhavethesamenumberofvotingrightsasthenumberofcandidatedirectorswhoareupforelection,andthevotingrightsofalltheshareholdersmaybeexercisedinacentralizedmanner,ordistributedtotwoormorecandidatedirectorswithallvotes,andthecandidatewhoobtainedmorevotesshallbeelected.

1.Thespecificvotingmethodtovoteupontheelectionofdirectorsshallbe:

(1)Thevotingupontheelectionofindependentdirectorsandcommondirectorsshallbeseparated.Thespecificmethodis:

Whenvotingupontheelectionofindependentdirectors,thenumberofvotingrightsofeachshareholdershallbetheproductofthesharesheheldmultipliesthenumberofindependentdirectorsheisentitledtovote,andsuchnumbersofvotingrightshallonlybevotedtoindependentdirectors.Whenvotingupontheelectionofcommondirectors,thenumberofvotingrightsofeachshareholdershallbetheproductofthesharesheheldmultipliesthenumberofcommondirectorsheisentitledtovote,andsuchnumbersofvotingrightshallonlybevotedtocommondirectors.

(2)Whenfillingouttheballot,ashareholdermaydistributetoonecandidatedirectors

withallvotingpowerheheld,ordistributedtoseveralcandidatedirectorsandindicatethevotingpowerdistributedtoeachcandidatethereafter.Ifashareholderspecificallydisapprovesanyoneormorecandidatesandvoteforothers,thenameofthepersonbeingvotedshallbefilledinandindicatingwiththevotingpowerdistributedtosuchcandidatethereafter.

(3)Wherethetotalnumberofvotingpoweronavoteexceedsthelegitimatenumberofvotingpowerofashareholder,suchvoteshallbedeemedinvalid.

(4)Wherethetotalnumberofvotingpoweronavoteisnomorethanthelegitimate

numberofvotingpowerofashareholder,suchvoteshallbedeemedvalid.

(5)Afterthevoting,thevotesshallbecountedandthevotesobtainedbyeachcandidateshallbeannounced,andthedirectorselectedshallbedeterminedbaseduponthenumberofvotesobtainedbycandidatedirectors.

(6)Theprincipleofelectionofdirectors:thefinaldirectorselectedshallbe

determinedbaseduponthenumberofvotesobtainedbycandidatedirectors,butthelowestvotesobtainedbyeachdirectorelectedshallbemorethanhalfofthevotingpoweroftheshareholdersattendingtheshareholders’meeting(includingproxiesthereof).

(7)Wherethenumberofcandidatedirectorsismorethanthenumberofcandidate

directorstobeelected,thedirectorelectedshallbedeterminedaccordingtothevotesobtainedbythemindescendingorder.However,thenumberofvotingrightsofadirectorelectedshallmeettherequirementassetforthinItem(6)hereof.

(8)Ifthenumberofcandidatedirectorsobtainedthesamevotesexceedsuchkindofdirectorstobeelected,thesaidcandidatedirectorsshallbevotedagainaccordingtotheproceduressetforthinthisarticleuntilthedirectoriselected.

(9)Ifacumulativevotingfailstoelectrequirednumberofakindofdirectorsrequired

accordingtoArticlesofAssociation,thecandidatedirectorswithinadequateamountofvotesshallbevotedagainandifthenumberofdirectorselectedstillfailstomeettherequirement,thenitshallbevotedinnextshareholders’meeting.

(10)Beforetheshareholdersvotedupontheelectionofdirectors,theboardof

directorsshallberesponsibleinconstruingthespecificmethodofcumulativevotingsetforthintheseArticlesofAssociationandensuretheshareholderstoexecutetheirvotingrightscorrectly.Article87Inadditiontothecumulativevoting,theshareholders’meetingmaytakeavoteonalltheproposalsitembyitem.Wheredifferentproposalsaresubmittedforthesamematter,votesshallbecastinthesequencethatsuchproposalsaresubmitted.Theshareholders’meetingshallnotpostponeorrefusevotinguponthesaidproposalsunlessthemeetingissuspendedortheyareunabletoadoptaresolutionasaresultofparticularreasonssuchasforcemajeureandotherwise.Article88Theshareholders’meeting,whenexamininganddeliberatingthe

proposals,shallnotamendthem,wherethereisanyamendment,therelevantamendmentshallbedeemedasanewproposalwhichshallnotbevotedonatthesameshareholders’meeting.Article89Eachvotingrightshallchooseonlyoneofsuchmeansincludingonsite,throughtheinternetorotherwise.Thefirstvotingresultprevailsifrepeatedvotesarisebythesamevotingright.Article90Votesattheshareholders’meetingshallbebymeansofopenballot.Article91Priortovoteonproposalsattheshareholders’meeting,twoshareholdersshallbeelectedbytheshareholders’meetingtoparticipateinthevotecalculationandsupervision.Ifshareholdershaveanyrelationwiththematterstobeexaminedanddeliberatedon,theconcernedshareholdersandproxiesthereofshallnottakepartinthevotecalculationandsupervision.Whentheshareholders’meetingisvotingonproposals,thelawyersandrepresentativesofshareholdersshallbejointlyresponsibleforthevotecalculationandsupervisionthereofandfortheannouncementofthevotingresultswhichshallberecordedintotheminutesofthemeeting.ShareholdersofCompanyortheirproxieswhocastvotesviainternetorthroughanyothermeansshallhavetherighttoexaminetheirvotingresultsbyaccessingtothecorrespondingvotingsystem.Article92Theonsiteshareholders’meetingshallnotbeterminatedearlierthantheshareholders’meetingheldthroughtheinternetorbyanyothermeans.Thepresideroftheonsiteshareholders’meetingshallannouncethevotesandvotingresultsofeachproposalandannounceiftheproposalshavebeenpassedaccordingtothevotingresults.Priortotheformalannouncementofthevotingresults,thecompanies,votecounters,votesupervisors,shareholdersandtheinternetserviceprovidersandotherrelatedpartiesinvolvedintheshareholders'meetingheldonsite,throughtheinternetorbyanyothermeansshallbearobligationofconfidentialonthevotingresults.Article93Theattendingshareholdersshallgivetheiropinionsontheproposalssubmittedforvote,being:affirmative,negativeorabstentionvote,exceptthatasecuritiesregistrationandsettlementinstitutionservingasthenominalholderofthestocksunderInter-connectedMechanismforTradingonStockMarketsintheMainlandandHongKongmakedeclarationaccordingtotheintentionoftheactualholders.Theblank,falsely-filledandunreadablevotesaswellasvotesthatarenotmadeshall

bedeemedasabstention,andthevotingresultsrepresentedbythesharesoftheabstentionvotershallbefilledwith"abstention".Article94Wherethepresiderhasanydoubtaboutthevotingresults,hemayorganizetohavethenumberofvotescounted;wherethepresiderfailstodosoandtheattendingshareholdersortheproxiesthereofchallengethevotingresultsannouncedbythepresider,theyareentitledtorequirethecountingofvotesimmediatelyupontheannouncementofthevotingresultsandthepresidershallorganizethevotecalculationwithoutdelay.Article95Theresolutionsoftheshareholders’meetingshallbeannouncedpromptlyandsuchannouncementshallindicatethenumberofshareholdersofdomesticsharesandforeign-fundedshareswhichattendthemeeting,thenumberofvotingsharesheldbythem,theproportionsoftheirvotingsharesinthetotalvotingsharesoftheCompany,thevotingmethods,thevoteresultsofeachproposalandsoon.Article96Wheretheproposalsfailtobepassedbytheshareholders’meetingorthepreviousresolutionsofthelastshareholders’meetingarealteredatthecurrentshareholders’meeting,specialindicationsshallbemadeintheannouncementofthesaidmeeting.Article97Wheretheshareholders’meetingpassesaproposalconcerningelectionofdirectors,thestartingtimeoftheirassumptionofofficeshallbethedateofresolutionoftheshareholders’meetingismade,andinthecaseofadirectorasarepresentativeoftheemployeesshallbethedateofresolutionoftheemployeerepresentatives'meetingismade.Article98Wheretheshareholders’meetingpassesaproposalregardingthedistributionofcashdividends,sharegrantingorconversionofcommonreservefundintosharecapital,theCompanyshallimplementthedetailedplanforsuchproposalswithintwomonthsfromtheclosingoftheshareholders’meeting.Chapter5DirectorsandBoardofDirectorsSection1GeneralRulesonDirectorsArticle99ThedirectorsoftheCompanyshallbenaturalpersons,theyshallnotactinthecapacityofdirectorunderanyofthefollowingcircumstances:

(1)havingnocivilcapacityorlimitedcivilcapacity;

(2)havingbeensentencedtocriminalpenaltiesduetocommittedoffencesofcorruption,bribery,infringementofproperty,misappropriationofpropertyorsabotagingthesocialeconomicorder,orhavingbeendeprivedoftheirpoliticalrightsduetocriminaloffences,wherelessthanfiveyearshaveelapsedsincethedateofthecompletionoftheexecutionofthepenalty;whereaprobationhasbeendeclared,andnotmorethan2yearshaveelapsedsincetheexpirydateoftheprobation;

(3)havingservedinthecapacityofdirector,factorychieformanagerofacompanyorenterprisewhichhasgoneintobankruptcyorliquidationproceeding,andbeingpersonallyresponsibleforsuchbankruptcy,wherelessthanthreeyearshaveelapsedsincetheclosingofthesaidbankruptcyorliquidation;

(4)havingservedasthelegalrepresentativeofaCompanyorenterprisewhose

businesslicensehasbeenrevokedorwhichhasbeenordertoclosedownduetotheviolationoflaw,andbeingpersonallyresponsibleforsuchrevocationandclosingdown,wherelessthanthreeyearshaveelapsedsincethesaidrevocationorclosureofthecompanyorenterprise;

(5)beinglistedasadishonestpersonsubjecttoenforcementbythepeople'scourtdue

toarelativelylargeamountofoutstandingpersonaldebt;

(6)havingbeenprohibitedfromaccessingthesecuritiesmarketbytheCSRC,wherethespecifiedprohibitionperiodhasnotyetfinished;

(7)havingbeenannouncedbytheStockExchangethatitisnotappropriateforhimto

bethedirectororseniorexecutiveofalistedcompany,andtheperiodhasnotelapsed;or

(8)othercontentasprescribedinthelaws,administrativeregulationsorregulationsofministriesandcommissions.InthecaseofelectionorappointmentofdirectorsinviolationofthisArticle,suchelection,appointmentoremploymentshallbenullandvoid.WherethecircumstancesasprescribedinthisArticletakeplaceduringthetermofanydirector,suchdirectorshallbedismissedbytheCompanyandstopperforminghis/herduties.Article100Directorsshallbeelectedorreplacedbytheshareholders'meetingandmayberemovedbytheshareholders'meetingbeforetheexpirationoftheirtermofoffice.Thetermofofficeofthedirectorsshallbethreeyears.Thedirectorsmayserveconsecutivetermsifreelecteduponexpirationoftheirtermofoffice.Thetermofofficeofeachdirectorshallcommenceasofhisassumptionofofficeuntiltheexpirationofthecurrentboardofdirectors.Wherethenewdirectorsfailtobe

promptlyelectedupontheexpirationofthetermofoffice,thenbeforethenewlyelecteddirectorsassumeoffice,theoriginaldirectorsshallretaintheirdirectorshipinaccordancewiththelaws,administrativeregulations,rule,andtheseArticlesofAssociation.Directorscanserveconcurrentlyasseniorexecutives,however,thedirectorswhoconcurrentlyserveasseniorexecutivesanddirectorswhoareemployeerepresentativesshallnotexceedhalfofallthedirectorsoftheCompany.Article101Thedirectorsshallabidebylaws,administrativeregulations,andtheseArticlesofAssociationandbefaithfultotheCompany.He/sheshalltakestepstoavoidhis/herowninterestsconflictingwiththeCompany'sinterestsandmaynottakeadvantageofpositiontoseekimproperbenefits.ThedirectorshavethefollowingdutiesofloyaltytotheCompany:

(1)notmisappropriatetheCompany’sassetsorembezzletheCompany’sfunds;

(2)notopenaccountsintheirownnameorinthenamesofothers,fordepositingthefundsoftheCompany;

(3)notabusetheirfunctionsandpowerstoofferbriberyorreceiveotherillegalincome;

(4)not,directlyorindirectly,enterintoanycontractortradewiththeCompany

withoutreportingtotheboardofdirectorsorshareholders'meetingandbeingapprovedbytheboardofdirectorsorshareholders'meetinginaccordancewiththeseArticlesofAssociation;

(5)notabusetheirpowersandfunctionstoseekbusinessopportunitiesforthemselvesorothersasshouldbelongtotheCompany,exceptifreportingtotheboardofdirectorsorshareholders'meetingandbeingapprovedbyresolutionattheshareholders'meeting,orif,accordingtothelaws,administrativeregulationsortheseArticlesofAssociation,theCompanycannotusesuchopportunity

(6)noroperateforthemselvesorothersbusinessessimilartothoseoftheCompany

withoutreportingtotheboardofdirectorsorshareholders'meeting,andafterbeingapprovedbyresolutionattheshareholders'meeting;

(7)notacceptcommissionderivedfromtransactionsbetweenotherpartiesandthe

Company,aspersonalgains;

(8)notrevealtheCompany'ssecretswithoutauthorization;

(9)notabuseaffiliatedrelationshipstoimpairtheinterestsoftheCompany;and

(10)otherfaithfulobligationsasprescribedinthelaws,administrativeregulations,regulationsofministriesandcommissionsandtheseArticlesofAssociation.AnyincomeofthedirectorsarisingfromtheiractsaforesaidmentionedshallbeconfiscatedbytheCompany;wherethedirectorscauselossestotheCompany,theyshallbearcompensationliabilities.Whenacloserelativeofthedirectorsorseniorexecutives,anenterprisedirectlyorindirectlycontrolledbythedirectors,seniorexecutivesortheircloserelative,orarelatedpartyhavingotherrelated-partyrelationshipwiththedirectorsorseniorexecutives,entersintoacontractorcarriesouttransactionwiththeCompany,therequirementofItem(4),paragraph2ofthisArticleapplies.Article102Thedirectorsshallabidebythelaws,administrativeregulationsandtheseArticlesofAssociation,andshallactwithduediligencetowardstheCompany.Whenperformingduties,theyshallexercisereasonablecareasthemanagerforthebestinterestoftheCompany.ThedirectorshavethefollowingdutiesofdiligencetowardstheCompany:

(1)prudently,earnestlyanddiligentlyexercisingtherightsconferredbytheCompanysoastoensurethecomplianceoftheCompany'sbusinessactswiththerequirementsofthelaws,administrativeregulationsandthevariousStateeconomicpoliciesandthatbusinessactivitiesshallnotexceedthebusinessscopementionedinthebusinesslicense;

(2)treatingalltheshareholdersfairly;

(3)promptlygainingunderstandingofthebusiness,operationandmanagementconditionsoftheCompany;

(4)signingwrittenconfirmationopiniontotheCompany'speriodicreportand

ensuringthattheinformationdisclosedbytheCompanyistrue,accurateandcomplete;

(5)providingtherelevantinformationandmaterialstotheauditcommitteefaithfully,andnotimpedingtheauditcommitteeinexercisingtheirfunctionsandpowers;and

(6)otherobligationsofdiligenceasprescribedintherelevantlaws,administrative

regulations,regulationsofministriesandcommissions,andtheseArticlesofAssociation.

Article103Wherethedirectorsfailtoattendinpersontwoconsecutivemeetingsoftheboardofdirectorsandfurtherfailtoentrustotherdirectorstoattendthemeeting,theyshallbedeemedincapableofperformingtheirdutiesandtheboardofdirectorsshallproposeashareholders'meetingtoreplacesuchdirectors.Article104Thedirectorsmaysubmittheresignationinadvanceofexpirationofthetermofoffice.ThedirectorsmaysubmittheirresignationreportinwritingtotheCompanytoresignandtheresignationiseffectiveonthedatetheCompanyreceivestheresignationreport.TheCompanyshalldisclosetherelevantinformationwithintwotradingdaysthereafter.Wherethetotalnumberofmembersoftheboardofdirectorsislowerthantheminimumnumberofmembersrequiredbylawduetotheresignationofanydirector,thenbeforethenewlyelecteddirectorassumesoffice,theformerdirectorshallstillretaintheirdirectorshipinaccordancewiththerelevantlaws,administrativeregulations,regulationsofministriesandcommissionsandtheseArticlesofAssociation.Article105TheCompanyshallsetupamanagementsystemforthedepartureofdirectors,clearlyspecifyingmeasurestoensureaccountabilityandcompensationconcerningpubliccommitmentswhichhavenotbeencompletedandotheruncoveredmatters.Wherethedirectorresignscomesintoforceorhistermofofficeexpires,hisobligationstotheCompanyandshareholdersshallnotbedischargedbeforetheresignationreportcomesintoeffect,norbedischargedwithin6monthsfollowingtheeffectivenessoftheresignationreportorexpirationoftermofoffice,andhisobligationstothetradesecretsoftheCompanyshallsurvivehistermofoffice,tillthetradesecretsbecomespublicinformation.Thedurationofhisotherobligationsshallbedeterminedaccordingtotheprincipleoffairness,dependingontheintervalsbetweentheoccurrenceoftheeventandhisresignation,andthesituationsandconditionsunderwhichthedirectorterminateshisrelationshipwiththeCompany.Theresponsibilityofthedirectorduetoperformanceofhisdutiesduringthetermofofficewillnotterminateorbedischargedduetoleaveofoffice.Article106Ashareholders'meetingmayresolvetoremoveadirector.Theremovaltakeseffectonthedateoftheresolutionmade.If,withoutproperreason,adirectorisremovedbeforeexpiryoftermofoffice,hemayrequestcompensationfromtheCompany.Article107WithoutthelegalauthorizationbytheseArticlesofAssociationortheboardofdirectors,nodirectorshallrepresenttheCompanyortheboardofdirectorstoactinhisownname.Ifanydirectoractsinhisownnameandfurtherifinthereasonableopinionofathirdparty,suchactsrepresentthoseoftheCompanyortheboardofdirectors,thedirectorshalldeclarehisstandpointandidentityatfirst.

Article108WhenthedirectorsperformtheirdutiesintheCompany,causingharmtoothers,theCompanyshallbeliableforcompensation.Ifthedirectorsareintentionalorhavegrossnegligence,theyshallalsobeliableforcompensation.Wherethelaw,administrativeregulations,regulationsofministriesandcommissionsortheseArticlesofAssociationareviolatedbythedirectorsinperformingdutiesfortheCompany,thuscausinglossestotheCompany,thedirectorsshallbeliableforcompensation.Section2BoardofDirectorsArticle109TheboardofdirectorsestablishedbytheCompanyshallberesponsibletotheshareholders'meeting.Article110Theboardofdirectorsshallbecomposedofseven[7]directors,withthree[3]independentdirectorstherein.Theboardofdirectorsshallhaveoneboardchairman.ThechairmanoftheCompanyshallbeelectedbymorethanhalfofallthedirectors.Theboardofdirectorsshallhaveone[1]directorastherepresentativeofthestaffandworkers.TheemployeerepresentativeiselecteddemocraticallybytheCompanyemployeesthroughtheemployeerepresentativecongress,employeecongressorothermethod,withoutsubmissiontotheshareholders'meetingfordeliberation.Article111Theboardofdirectorsshallexercisethefollowingfunctionsandpowers:

(1)conveningtheshareholders'meetingandreportingitsworktotheshareholders'

meeting;

(2)implementingtheresolutionsoftheshareholders’meeting;

(3)decidingonthebusinessplanandinvestmentschemeoftheCompany;

(4)formulatingprofitallocationplanandplantorecoverlosses,oftheCompany;

(5)formulatingplansoftheCompanyregardingtheincreaseordecreaseintheregisteredcapital,theissuanceofbondsorothersecuritiesandthelistingoftheCompany;

(6)drawingupCompanyplansconcerningmajoracquisitions,theacquisitionof

Companystocksormerger/consolidation,spin-off,dissolutionandalterationin

corporateform;

(7)withinthescopeofauthorizationgrantedbytheshareholders'meeting,deciding

onsuchmattersasexternalinvestment,acquisitionandsaleofassets,mortgageofassets,externalguarantee,entrustedmanagementofwealth,affiliatedtransactionsandexternaldonations;

(8)decidingontheestablishmentoftheinternalmanagementorganizationsoftheCompany;

(9)decidingonsuchmattersasappointingordismissingPresident&ChiefExecutive

OfficerandthesecretaryoftheboardofdirectorsoftheCompany,aswellastheirremunerationandreward/punishment;accordingtonominationsbyPresident&ChiefExecutiveOfficer,decidingonappointingordismissingseniorexecutivesincludingChiefFinancialOfficer,anddecidingontheremuneration,rewardandpunishmentparticularsoftheprecedingpersons;

(10)formulatingthebasicmanagementsystemoftheCompany;

(11)formulatingtheplanforamendmenttotheseArticlesofAssociation;

(12)managingtheinformationdisclosureoftheCompany;

(13)proposingtotheshareholders'meetingtheappointmentorreplacementofthe

accountingfirmwhichrendersauditservicetotheCompany;

(14)hearingthePresidentandCEO’sworkreportandexaminingtheworkofthePresidentandCEO;

(15)otherfunctionsandpowersconferredbythelaws,administrativeregulations,regulationsofministriesandcommissions,theseArticlesofAssociationortheshareholders'meeting.Article112TheBoardofDirectorsshallheartheopinionsofthePartyCommitteeoftheCompanybeforemakingdecisionsontheappointmentandremovalofimportantpersonnelandmaterialbusinessandmanagementmattersoftheCompany.Article113TheboardofdirectorsoftheCompanyshallexplaintotheshareholders'meetinganynon-standardauditopinionsontheCompany'sfinancialstatementsissuedbythecertifiedpublicaccountants.Article114Theboardofdirectorsshallsetforththeproceduralrulesoftheboardofdirectorstoensureitsimplementationoftheresolutionsadoptedbythe

shareholders'meeting,andtoimprovetheworkefficiencyandguaranteescientificdecisionmaking.Article115Theboardofdirectorsshallhavepowersregardingthetransactionswhichmeetoneofthefollowingcriteria:

(1)Thetotalamountofassetsinvolvedinthetransactionexceeds20%ofthelatest

auditedtotalassetsoftheCompany.Iftheassetsinvolvedinthetransactionhavebookvalueandappraisalvalueconcurrently,thehighervalueshallbeusedforcalculation;

(2)Thenetassetsinvolvedinthetargetofthetransaction(i.e.equitytransaction)

exceed20%ofthelatestauditednetassetsoftheCompanyandtheabsoluteamountismorethanRMB20million.Iftheassetsinvolvedinthetransactionhavebookvalueandappraisalvalueconcurrently,thehighervalueshallbeusedforcalculation;

(3)Therevenueofthetargetofthetransaction(i.e.equityinterests)inthelatestyear

exceeds20%ofthelatestauditedrevenueoftheCompany,andtheabsoluteamountismorethanRMB20million;

(4)Thenetprofitofthetargetofthetransaction(i.e.equityinterests)inthelatestyear

exceeds20%ofthelatestauditednetprofitoftheCompany,andtheabsoluteamountismorethanRMB2million;

(5)Theamountofthetransaction(includingindebtednessandexpenses)exceeds

20%ofthelatestauditednetassetsoftheCompany,andtheabsoluteamountismorethanRMB20million;

(6)Theprofitofthetransactionexceeds20%ofthelatestauditednetprofitoftheCompany,andtheabsoluteamountismorethanRMB2million;

(7)Externalguarantee:anyguaranteeotherthantheguaranteestipulatedunder

Article47;

(8)Affiliatedtransaction:theaffiliatedtransactionbetweentheCompanyand

affiliatednaturalpersonexceedsRMB300,000;theaffiliatedtransactionbetweentheCompanyandaffiliatedlegalperson(orotherorganizations)exceedsRMB3millionandexceeds0.5%ofthelatestauditednetassetsoftheCompany;

(9)Securitiesinvestment:thetotalamountexceeds10%ofthelatestauditednet

assetsoftheCompany,andtheabsoluteamountbeingmorethanRMB10million.Securitiesinvestmentforesaidincludesplacementorsubscriptionofnewshares,securitiesrepurchase,stockinvestment,bondinvestment,entrustedfinancial

management(includingbankfinancialproducts,trustproducts)andotherinvestmentbehavioridentifiedbytheShenzhenStockExchange.IfanyamountinvolvedinthisArticleisnegativeamount,theabsoluteamountshallbeusedforcalculationpurpose.TheboardofdirectorsshallperformthedutytodiscloseasrequiredbytheListingRulesofShenzhenStockExchangeinexecutingthepowersetforthaforesaid.Theboardofdirectorsshallestablishstrictreviewinganddecision-makingprocedures;withregardtothemajorinvestmentprojects,thefunctionaldepartmentoftheCompanyorbranchmanagershallconductfeasibilityanalysisanddemonstration,andtheCompanyshallorganizeexpertsandprofessionalsincludinglawyersandaccountants,etc.toreviewandissueprofessionalopinionsfromthefinancialandlegalperspectives,andsuchprojectsshallbesubmittedtotheshareholdersmeetingfordiscussionafterreviewandapprovalbytheboardofdirectorsandshallbeexecutedaftertheshareholdersmeetingapprovedsuchtransaction.Theshareholdersmeetingshallhavepowersregardingtransactionswhichmeetoneofthefollowingcriteria:

(1)Thetotalamountofassetsinvolvedinthetransactionexceeds50%ofthelatestauditedtotalassetsoftheCompany.Iftheassetsinvolvedinthetransactionhavebookvalueandappraisalvalueconcurrently,thehighervalueshallbeusedforcalculation;

(2)Thenetassetsinvolvedinthetargetofthetransaction(i.e.equitytransaction)exceed50%ofthelatestauditednetassetsoftheCompanyandtheabsoluteamountismorethanRMB50million.Iftheassetsinvolvedinthetransactionhavebookvalueandappraisalvalueconcurrently,thehighervalueshallbeusedforcalculation;

(3)Therevenueofthetargetofthetransaction(i.e.equityinterests)inthelatestyearexceeds50%ofthelatestauditedrevenueoftheCompany,andtheabsoluteamountismorethanRMB50million;

(4)Thenetprofitofthetargetofthetransaction(i.e.equityinterests)inthelatestyearexceeds50%ofthelatestauditednetprofitoftheCompany,andtheabsoluteamountismorethanRMB5million;

(5)Theamountofthetransaction(includingindebtednessandexpenses)exceeds50%ofthelatestauditednetassetsoftheCompany,andtheabsoluteamountismorethanRMB50million;

(6)Theprofitofthetransactionexceeds50%ofthelatestauditednetprofitoftheCompany,andtheabsoluteamountismorethanRMB5million;

(7)Affiliatedtransaction:theaffiliatedtransaction(exceptforthetransactionsthattheCompanyreceivescashasgiftandtheCompanyprovidesguarantee)betweentheCompanyandaffiliatedpersonexceedsRMB30millionandexceeds5%ofthelatestauditednetassetsoftheCompany;

(8)Securitiesinvestment:thetotalamountexceeds50%ofthelatestauditednetassetsoftheCompany,andtheabsoluteamountbeingmorethanRMB50million.Regardingtothepurchaseorsaleofassetstransaction,theCompanyshallusethetotalamountoftheassetsortheamountofthetransaction,whicheverishigher,asthecalculationcriteriaandtheamountshallbecumulativeinthetwelveconsecutivemonthsaccordingtothetypeofthetransaction.Iftheamountreaches30%ofthelatestauditedtotalassets,thetransactionshallbesubmittedtotheshareholders’meetingforconsiderationandshallbeadoptedbymorethantwothirdsofthevotingrightsheldbytheshareholderspresentatthemeeting.IfanyamountinvolvedinthisArticleisnegativeamount,theabsoluteamountshallbeusedforcalculationpurpose.Theterm"transaction"asmentionedinthisArticleincludesthefollowing:(1)thepurchaseofassets;(2)thesaleofassets;(3)externalinvestment(includingentrustedfinancialmanagement,investmentinsubsidiaries,etc.);(4)providingfinancialsupport(includingentrustedloans,etc.);(5)providingguarantee(includingguaranteeforcontrolledsubsidiaries,etc.);(6)rentingorleasingassets;(7)entrustingothersorbeingentrustedformanagementofassetsorbusiness;(8)giftingassetsorbeinggifted;(9)claimsordebtrestructuring;(10)transferringoracquiringbytransferresearchanddevelopmentprojects;(11)signingalicenseagreement;(12)waiverofrights(includingwithoutlimitationwaiverofpreemptiverightsortheprivilegetosubscribeforcapitalcontributions);(13)othertransactionsidentifiedbytheShenzhenStockExchange.Theabovementionedpurchaseorsaleofassetsexcludethepurchaseofrawmaterials,fuelandpower,andthesaleofproducts,commoditiesandotherassetsrelatedtodailyoperations,butthepurchaseandsaleofsuchassetsinvolvedintheassetsswapisstillincluded.TheexternaldonationshallcomplywiththeExternalDonationManagementMeasuresofADAMALtd.WhentheCompanypurchasesorsellsequityinterests,itshallapplytheprovisionsofthisArticletotherelevantfinancialindicators,calculatedbasedontheproportionofchangesintheequityinterestsheldbytheCompany.IfthetransactionresultsinachangeinthescopeoftheCompany'sconsolidatedfinancialstatements,theprovisionsofthisArticleshallapplytotherelevantfinancialindicatorsofthetarget

companycorrespondingtosuchequityinterests.Article116TheexternalguaranteeoftheCompanyshallcomplywiththefollowingrules:

(1)theCompanyshallnotprovideguaranteetoanyentitythatisnotalegalpersonoranindividual;

(2)theCompanyshallnotprovideexternalguaranteewithouttheapprovalofthe

boardofdirectorsortheshareholder’smeeting;

(3)theexternalguaranteewhichrequirestheapprovaloftheboardofdirectorsshall

beexaminedandapprovedbymorethan1/2ofallthedirectorsand2/3ofthedirectorswhoattendthemeeting,andthedirectorsshalladoptresolutionsonsuchguarantee;

(4)IftheCompanyprovidesanexternalguaranteetothecontrollingshareholder,actualcontrollerandtheirassociates,thecounter-guaranteefromthewarranteeshallberequired;

(5)IftheCompanyoritssubsidiaryprovidesanexternalguaranteetoacontrolled

subsidiarynotfullyownedbytheCompany(directlyorindirectly),theminorityshareholderoftheguaranteedsubsidiaryshallprovideacorrespondingguaranteebasedonitssharepercentageintheguaranteedsubsidiary.Article117Thechairmanoftheboardofdirectorshasthefollowingfunctionsandpowers:

(1)presidingovertheshareholders'meeting,andconveningandpresidingoverthe

meetingoftheboardofdirectors;

(2)supervisingandinspectingfortheexecutionofresolutionsadoptedbytheboardofdirectors;

(3)signingimportantdocumentoftheboardofdirectors;

(4)executespecialdisposingrightinaccordancewiththelawsandtheinterestoftheCompanywithregardtothebusinessandaffairsoftheCompanywheretheforcemajeureeventsincludingseverenaturaldisasters,etc.happen,andreporttotheboardofdirectorsandshareholder’smeetingafterwards;and

(5)otherpowerentrustedbytheboardofdirectors.Article118Wherethechairmanoftheboardofdirectorsisunabletoorfailsto

performhisduties,adirectorjointlyelectedbymorethanhalfofthedirectorsshallperformhisduties.Article119Theboardofdirectorsshallholdatleasttwomeetingsayearwhichshallbeconvenedbythechairmanoftheboardofdirectors.TheboardofdirectorsshallnotifyalldirectorsandPresidentandCEOtendaysinadvanceofthemeeting.Article120Shareholdersrepresentingmorethan1/10ofthevotingrights,thedirectorsaccountingformorethan1/3ofallthemembersoftheboardofdirectors,morethanhalfoftheindependentdirectors,theauditcommitteeorthePresidentandCEOmayproposetoholdaninterimmeetingoftheboardofdirectors.Thechairmanoftheboardshall,within10daysafterthereceiptoftheproposal,conveneandpresideoverthemeetingoftheboardofdirectors.TheChairmanoftheboardmayproposetoholdaninterimmeetingoftheboardofdirectors,atanytime,ifitdeemsnecessary.Article121Themethodofgivingnoticethattheboardofdirectorsshallholdtheinterimmeetingthereof:oralorwrittennotice;timeofthenotice:2daysbeforethemeeting.Withtheunanimousconsentofallthedirectors,theconveningoftheinterimboardmeetingmaynotberestrictedbytheaforementionednoticetimelimit,providedthatarecordthereofshallbemadeintheminutesoftheboardofdirectorsandsignedbyallparticipatingdirectors.Article122Thenoticeonthemeetingoftheboardofdirectorsshallincludethefollowing:

(1)meetingdateandplace;

(2)timelimitofthemeeting;

(3)mattersfordiscussion;and

(4)issuingdateofthenotice.Article123Themeetingoftheboardofdirectorsmaynotbeheldunlessitisattendedbymorethanhalfofallthedirectors.Anyresolutionmadebytheboardofdirectorsshallrequiretheapprovalofmorethanhalfofallthedirectors.Astotheresolutionsoftheboardofdirectors,eachdirectorshallhaveonevote.Article124Wheredirectorshaveaffiliatedrelationshipwiththeenterprisesorindividualsmentionedinanyresolutionmadebytheboardofdirectors,thedirector

shallpromptlysubmitawrittenreporttotheboardofdirectors.Theaffiliateddirectorsshallneithervoteonthesaidresolutionsnoractasproxiesforotherdirectorstoexercisetheirvotingrightuponthesaidresolutions.Suchmeetingsoftheboardofdirectorsmaynotbeheldunlessattendedbymorethanhalfofallthenon-affiliateddirectors,andresolutionsadoptedatsuchmeetingshallbepassedbymorethanhalfofallthenon-affiliateddirectors.Wherethenumberofthenon-affiliateddirectorsattendingthemeetingoftheboardofdirectorsislessthanthree,themattersshallbesubmittedtotheshareholders'meetingforexaminationanddeliberation.Article125Votingmethodatthemeetingoftheboardofdirectors:disclosedvote.Themeetingoftheboardofdirectors,onthepreconditionofensuringthefullexpressionbydirectorsoftheiropinions,mayadoptresolutionsbyelectroniccommunicationmethodssuchasvideoconferences,telephoneconferences,emailsorwrittenresolution.Alltheattendingdirectorsshallsigntheresolutions.Article126Themeetingoftheboardofdirectorsshallrequiretheattendanceofthedirectorsinperson;wherethedirectorsarewithgoodreasonunabletoattendthemeeting,theymayinwritingentrustotherdirectorstodoso.Thewrittenpowerofattorneyshallindicatethenameofeachproxy,entrustedmatters,scopeofauthorizationandvalidity,andshallbesignedbyormarkedwiththesealofeachprincipal,butindependentdirectorshallnotbeentrustedbynon-independentdirector,non-independentdirectorshallalsonotbeentrustedbyindependentdirector.Directorswhoattendthemeetingoftheboardofdirectorsasproxiesshallexercisetheirrightsincapacityofdirectorwithinthescopeofauthorization.Wherethedirectorsfailtoattendthemeetingoftheboardofdirectorsandfurtherfailtoentrustrepresentativestodosoontheirbehalf,itshallbedeemedthattheyhavewaivedtheirvotingrightsatsuchmeeting.Article127Theboardofdirectorsshallprepareminutesofitsmeetinginrespecttomatterstobeexaminedanddeliberatedatsuchmeeting,andtheattendingdirectorsshallsignsuchminutes.TheminutesofthemeetingoftheboardofdirectorsshallbekeptonfileattheCompanyforaperiodofnolessthan10years.Article128Theminutesofthemeetingoftheboardofdirectorsshallincludethefollowing:

(1)date,placeofmeetingandnameoftheconvenerandpresider;

(2)namesoftheattendingdirectorsandofthedirectors(proxiesthereof)whoare

entrustedbyotherstoattendthemeeting;

(3)meetingagenda;

(4)mainpointsofspeechesbydirectors;and

(5)methodsandresultsforvotesuponeachmattertobeexaminedanddeliberated(thevotingresultsshallsetforththenumberofaffirmative,negativeorabstentionvotes).Section3IndependentDirectorsArticle129Independentdirectorsshallperformtheirdutiesseriouslypursuanttotheprovisionsoflaws,administrativeregulations,theCSRC,theStockExchangesandtheArticlesofAssociation,playaroleofparticipationindecision-making,supervisionandchecksandbalancesandprofessionalconsultancyintheboardofdirectors,safeguardtheCompany'soverallinterestsandprotectthelegitimaterightsandinterestsofminorityshareholders.TheCompanyshouldestablishtheindependentdirectorpolicy.Theindependentdirectorpolicyshouldcomplywithlaws,administrativeregulations,theprovisionsoftheCSRC,andthebusinessrulesoftheShenzhenStockExchange.Theindependentdirectorpolicyshouldbedraftedbytheboardofdirectorsandapprovedbytheshareholders'meeting.TheCompanyshouldprovidenecessaryguaranteesforindependentdirectorstoperformtheirdutiesinaccordancewiththelaw.Article130Independentdirectorsshallmaintaintheirindependence.Thefollowingpersonsshallnotbeappointedasindependentdirectors:

(1)personswhoholdpostsintheCompanyoritsaffiliatesandtheirspouses,parents,childrenandmainsocialrelations;

(2)naturalpersonshareholderswhohold1%ormoreoftheCompany'sissuedsharesdirectlyorindirectlyorwhorankinthetop10shareholdersoftheCompanyandtheirspouses,parentsandchildren;

(3)personswhoholdpostsinshareholdersthathold5%ormoreoftheCompany'sissuedsharesdirectlyorindirectlyorthatrankinthetopfiveshareholdersoftheCompanyandtheirspouses,parentsandchildren;

(4)personswhoholdpostsinaffiliatesoftheCompany'scontrollingshareholderoractualcontrollerandtheirspouses,parentsandchildren;

(5)personswhohavesignificantbusinessdealingswiththeCompanyanditscontrollingshareholder,actualcontrollerortheirrespectiveaffiliates,orpersonswhoholdpositionsinorganisationswhichhavesignificantbusinessdealingswiththeCompanyanditscontrollingshareholderoractualcontroller;

(6)personswhoprovidefinancial,legal,advisory,sponsorshipservicesetc.totheCompanyanditscontrollingshareholder,actualcontrollerortheirrespectiveaffiliates,includingbutnotlimitedtoallmembersofengagementteamofanintermediaryprovidingservices,alllevelsofreviewers,personssigningthereport,partners,directors,seniorexecutivesandprincipals;

(7)personswhofellunderthecircumstancesofitem(1)toitem(6)duringthepast12months;or

(8)anyothernon-independentpersonnelstipulatedbylaws,administrativeregulations,theprovisionsoftheCSRC,businessrulesoftheStockExchangesandtheArticlesofAssociation.AffiliatesoftheCompany'scontrollingshareholderoractualcontrollerreferredtoinitem(4)toitem(6)oftheprecedingparagraphshallexcludeenterpriseswhicharecontrolledbythesameState-ownedassetsmanagementagencyastheCompanyandarenotrelatedtotheCompanypursuanttotherelevantprovisions.Independentdirectorsshallconductannualself-examinationofindependenceandsubmittheself-examinationfindingstotheboardofdirectors.Theboardofdirectorsshallevaluatetheindependenceofincumbentindependentdirectorsannually,issueaspecificopinionanddisclosethesamesimultaneouslywiththeannualreport.Article131ApersonappointedasanindependentdirectoroftheCompanyshallsatisfythefollowingcriteria:

(1)possessingthequalificationstoactasanindependentdirectorofalistedcompanypursuanttolaws,administrativeregulationsandotherrelevantprovisions;

(2)satisfyingtheindependencerequirementsstipulatedintheArticlesofAssociation;

(3)possessingbasicknowledgeofoperationoflistedcompaniesandbeingfamiliarwiththerelevantlaws,regulationsandrules;

(4)havingfiveormoreyearsofworkexperienceinlegal,accountingoreconomicsrequiredforperformanceofthedutiesofindependentdirector;

(5)havinggoodmoralcharacter,withoutbadrecordsofsignificantdishonestconduct;and

(6)anyothercriteriastipulatedbylaws,administrativeregulations,theprovisionsoftheCSRC,businessrulesoftheStockExchangesandtheArticlesofAssociation.Article132Independentdirectorsshall,asmembersoftheboardofdirectors,beartheobligationsofloyaltyanddiligencetowardstheCompanyandallitsshareholdersandperformthefollowingdutiesprudently:

(1)participatingindecision-makingbytheboardofdirectorsandissuingspecificopinionsonthedeliberatedmatters;

(2)supervisingthepotentialsignificantconflictofinterestsbetweentheCompanyanditscontrollingshareholders,actualcontrollers,directors,seniorexecutives,andprotectingthelegitimaterightsandinterestsofminorityshareholders;

(3)providingprofessionalandobjectivesuggestionsontheCompany'sbusinessdevelopment,andpromotingtheimprovementofthedecision-makingleveloftheboardofdirectors;and

(4)anyotherdutiesstipulatedbylaws,administrativeregulations,theprovisionsoftheCSRCandtheArticlesofAssociation.Article133Independentdirectorsshallexercisethefollowingspecialpowers:

(1)independentlyengagingintermediariestocarryoutaudit,advisoryorverificationoftheCompany'sspecificmatters;

(2)proposingtotheboardofdirectorsonconveningofaninterimshareholders'meeting;

(3)proposingtoconveneaboardmeeting;

(4)openlysolicitingshareholder'srightsfromshareholderspursuanttothelaw;

(5)issuingindependentopinionsonmatterswhichmayharmtherightsandinterestsoftheCompanyorminorityshareholders;and

(6)anyotherpowersstipulatedbylaws,administrativeregulations,theprovisionsoftheCSRCandtheArticlesofAssociation.Anindependentdirectorexercisingthepowersstipulatedinitem(1)toitem(3)oftheprecedingparagraphshallobtaintheconsentofmorethanhalfofalltheindependentdirectors.

Whereanindependentdirectorexercisesthepowersstipulatedinthefirstparagraph,theCompanyshallpromptlymakedisclosure.Wherethepowersareunabletobeexercised,theCompanyshalldisclosethespecificcircumstancesandreason.Article134Thefollowingmattersshall,uponconsentbymorethanhalfofalltheindependentdirectorsoftheCompany,besubmittedtotheboardofdirectorsfordeliberation:

(1)related-partytransactionswhichshallbedisclosed;

(2)planforchangeorwaiverofundertakingbytheCompanyandtherelevantparties;

(3)decisionsmadeandmeasuresadoptedbytheboardofdirectorsofthetargetlistedcompanyinrespectoftheacquisition;and

(4)anyothermattersstipulatedbylaws,administrativeregulations,theprovisionsoftheCSRCandtheArticlesofAssociation.Article135TheCompanyshallestablishamechanismforspecializedmeetingsattendedsolelybyindependentdirectors.Wheretheboardofdirectorsdeliberatesonrelated-partytransactionsetc.,theapprovalshallbeobtainedataspecializedmeetingofindependentdirectors.TheCompanyshallholdspecializedmeetingsofindependentdirectorsonaregularoradhocbasis.Themattersstipulatedinitem(1)toitem(3)ofthefirstparagraphofArticle133,andArticle134oftheArticlesofAssociationshallbedeliberatedbyaspecializedmeetingoftheindependentdirectors.AspecializedmeetingofindependentdirectorsmaystudyanddiscussothermattersoftheCompanywherenecessary.Aspecializedmeetingofindependentdirectorsshallbeconvenedandchairedbyanindependentdirectorjointlyelectedbymorethanhalfofindependentdirectors;wheretheconvenerdoesnotorisunabletoperformhisduties,twoormoreindependentdirectorsmayconveneameetingandelectarepresentativetochairthemeeting.Minutesshallbepreparedforspecializedmeetingofindependentdirectorspursuanttotheprovisions,statingtheopinionsoftheindependentdirectors.Theindependentdirectorsshallsignontheminutesforconfirmation.TheCompanyshallprovideconvenienceandsupportforholdingofspecializedmeetingsofindependentdirectors.

Section4SpecializedCommitteesunderBoardofDirectorsArticle136TheboardofdirectorsoftheCompanyshallestablishanauditcommitteetoexercisetheofficialpowersoftheboardofsupervisorsstipulatedbytheCompanyLaw.Article137ThemembersoftheauditcommitteeshallcomprisefourdirectorswhoarenotseniorexecutivesoftheCompany,amongthemtherearethreeindependentdirectors,andanaccountingprofessionalamongtheindependentdirectorsshallactastheconvener.Article138TheauditcommitteeshallberesponsibleforreviewoftheCompany'sfinancialinformationanddisclosurethereof,supervisionandevaluationofinternalandexternalauditandinternalcontrol.Thefollowingmattersshall,uponconsentbymorethanhalfofallthemembersoftheauditcommittee,besubmittedtotheboardmeetingfordeliberation:

(1)disclosureoffinancialinformationinfinancialaccountingreportsandperiodicreports,internalcontrolevaluationreport;

(2)appointmentordismissalofaccountingfirmwhichundertakesauditengagementofalistedcompany;

(3)appointmentordismissaloffinancialcontrollerofalistedcompany;

(4)changeinaccountingpoliciesoraccountingestimatesorcorrectionofmaterialaccountingerrorforareasonotherthanchangeinaccountingstandards;and

(5)anyothermattersstipulatedbylaws,administrativeregulations,theCSRCandtheArticlesofAssociation.Article139Theauditcommitteeshallholdatleastonemeetingeachquarter.Uponproposalbytwoormoremembers,orwheretheconvenerdeemsnecessary,anextraordinarymeetingmaybeconvened.Themeetingofanauditcommitteeshallbeheldaftertwo-thirdsormoreofthemembersarepresent.Resolutionsoftheauditcommitteeshallbepassedbymorethanhalfoftheauditcommitteemembers.Eachmembershallhaveonevoteforvotingonresolutionsoftheauditcommittee.Minutesofmeetingshallbepreparedforresolutionsoftheauditcommitteepursuanttotheprovisionsandtheauditcommitteememberspresentatthemeetingshallsignontheminutes.

Theworkingproceduresoftheauditcommitteeshallbeformulatedbytheboardofdirectors.Article140TheboardofdirectorsoftheCompanyshallestablishnominationcommittee,remunerationandassessmentcommitteeandotherspecializedcommitteestoperformdutiespursuanttotheArticlesofAssociationandtheauthorizationoftheboardofdirectors.Proposalsofspecializedcommitteesshallbesubmittedtotheboardofdirectorsfordeliberationanddecision.Theworkingproceduresofspecializedcommitteesshallbeformulatedbytheboardofdirectors.Allmembersofthenominationcommitteeandtheremunerationandassessmentcommitteeshallbecomposedofdirectors.Amongthem,thenumberofindependentdirectorsshallbemorethanhalf,andanindependentdirectorshallserveastheconvener.Article141Thenominationcommitteeshallberesponsibleforformulationofselectioncriteriaandproceduresfordirectorsandseniorexecutives,conductselectionandexaminationofcandidatesfordirectorsandseniorexecutivesandtheirappointmentqualificationsandmakerecommendationstotheboardofdirectorsonthefollowingmatters:

(1)nominationorappointmentandremovalofdirectors;

(2)appointmentordismissalofseniorexecutives;and

(3)anyothermattersstipulatedbylaws,administrativeregulations,therulesofCSRCandtheArticlesofAssociation.Wheretheboardofdirectorsdoesnotadoptordoesnotfullyadopttherecommendationofthenominationcommittee,itshallrecordinaboardresolutiontheopinionsofthenominationcommitteeandthespecificreasonfornon-adoptionanddisclosethesame.Article142Theremunerationandassessmentcommitteeshallberesponsibleforformulationofappraisalstandardsandperformanceappraisalfordirectorsandseniorexecutives,formulateandexamineremunerationdecisionmechanism,decision-makingprocedures,paymentandstop-paymentrecoursearrangementsandotherremunerationpoliciesandschemesfordirectorsandseniorexecutivesandmakerecommendationstotheboardofdirectorsonthefollowingmatters:

(1)remunerationofdirectorsandseniorexecutives;

(2)formulationorchangeofshareoptionincentiveplanoremployeestockownershipplan;achievementofgrantofshareoptionstoandexerciseofshareoptionsby

participantsofshareoptionincentivescheme;

(3)arrangementofshareholdingplanforthesubsidiaryproposedtobesplitbythedirectorsandseniorexecutives;and

(4)anyothermattersstipulatedbylaws,administrativeregulations,therulesofCSRCandtheArticlesofAssociation.Wheretheboardofdirectorsdoesnotadoptordoesnotfullyadopttherecommendationoftheremunerationandassessmentcommittee,itshallrecordinaboardresolutiontheopinionsoftheremunerationandassessmentcommitteeandthespecificreasonfornon-adoptionanddisclosethesame.Chapter6PartyCommitteeArticle143TheCompanyshallestablishthePartyCommittee.ThePartyCommitteeshallhaveoneSecretary,oneViceSecretaryandseveralcommitteemembers.TheChairmanoftheBoardofDirectorsandtheSecretaryofthePartyCommitteeshallbethesamepersoninprinciple,thereshallbeafull-timeViceSecretaryinchargeofthePartyworkoftheCompany(ifneeded).ThequalifiedmemberofthePartyCommitteemayactamemberoftheBoardofDirectorsandManagementthoughlegalprocedure,andthequalifiedPartymemberoftheBoardofDirectorsandManagementmayactasamemberofthePartycommitteeaccordingtorelevantrulesandprocedures,Further,aDisciplineInspectionCommitteeshallbeestablished.Article144ThePartyCommitteeoftheCompanyshallperformitsdutyaccordingtotheCharteroftheCPCandtheWorkRegulationsoftheCPC,Regulationontheworkatprimary-levelPartyorganizationsofState-ownedenterprises(forTrialImplementation)andotherPartyregulations.

(1)EnsureandsupervisetheimplementationofthepoliciesofthePartyandNationat

theCompany,implementthestrategicdecisionoftheCPCCentralCommittee,theStateCouncil,andtheworkarrangementofthePartyCommitteeoftheState-ownedAssetsSupervisionandAdministrationCommission(“SASAC”),andthehigherPartyorganization.

(2)InsisttheprinciplethatthePartyshallmanagetheofficers,andthattheBoardofDirectorsshallhavetherighttoselectthemanagersaccordingtothelaw,andthatthemanagersshallhavetherighttoselectemployeesaccordingtothelawtobeintegrated.ThePartyCommitteeshallconsiderthecandidatesnominatedbytheBoardofDirectorsorPresidentandCEOandraiseopinions,orrecommendcandidatestotheBoardofDirectorsorPresidentandCEO.ThePartyCommittee

shallexaminethecandidateswiththeBoardofDirectorsandraiseopinionsaftercollectiveexamination.

(3)Researchanddiscussthestabilityofdevelopmentandreform,material

managementissue,employeebenefitsoftheCompany,andraisesopinionsandrecommendations.

(4)Undertakethemainresponsibilityofimplementingtheprincipleof“StrictManagementoftheParty”.TaketheleadoftheideologicalandpoliticalworkoftheCompany,theUnitedFrontwork,theconstructionofspiritualcivilization,theconstructionofcompanycultureandworkoftheUnion,theCommunistYouthLeagueandotherorganizations.LeadconstructionofacleanPartyandgovernment,andsupporttheworkofDisciplineInspectiontoperformthedutyofoversight.Article145ThefundsfortheworkofPartyorganizationshallbeincludedinthebudgetoftheCompanyandbedisbursedfromthemanagementcostoftheCompany.Chapter7SeniorExecutivesArticle146TheCompanyhasonePresidentandCEOwhoissubjecttoappointmentordismissalbytheboardofdirectors.TheCompanyhasChiefFinancialOfficerwhoshallbenominatedbythePresidentandCEOandsubjecttoappointmentordismissalbytheboardofdirectors.ThePresidentandCEO,ChiefFinancialOfficerandthesecretaryofboardofdirectorsshallbetheseniorexecutivesoftheCompany.Article147CircumstancesconcerningthedisqualificationofdirectorsandthedeparturemanagementsystemasprescribedintheseArticlesofAssociationarealsoapplicabletotheseniorexecutives.ProvisionsconcerningthedutyofloyaltyanddutyofcareofdirectorsasprescribedintheseArticlesofAssociationarealsoapplicabletotheseniorexecutives.Article148Thosepersonstakeadministrativeposts,exceptfordirectorsandsupervisors,intheunitsofthecontrollingshareholdersoftheCompany,shallnotserveasseniorexecutivesoftheCompany.TheCompany'sseniorexecutivesarepaidonlybytheCompany(and/oritssubsidiaries)andarenotpaidbythecontrollingshareholderonbehalfoftheCompany.

Article149ThetermofofficeofPresidentandCEOshallbethreeyears,andPresidentandCEOmaybereappointedandreelected.Article150ThePresidentandCEOshallberesponsibletotheboardofdirectors,andexercisethefollowingfunctionsandpowers:

(1)presidingovertheproduction,operationandmanagementoftheCompanyanditssubsidiaries,organizingtheimplementationoftheresolutionsadoptedbytheboardofdirectorsandreportingworktotheboardofdirectors;

(2)organizingtheimplementationofannualbusinessplans,debtandinvestments

planoftheCompany;

(3)draftingplansforestablishmentoftheCompany'sinternalmanagement

organizations;

(4)signingdocumentswhichshallbesignedbythelegalrepresentativeoftheCompanyandexecutingthefunctionsandpowersofthelegalrepresentative;

(5)draftingthebasicmanagementsystemoftheCompany;

(6)formulatingthespecificrulesandregulationsoftheCompany;

(7)proposingfortheboardofdirectorstoappointordismisstheChiefFinancialOfficeroftheCompany;

(8)decidingontheappointmentordismissalofothermanagementpersonnelother

thanthosewhoshallbeappointedordismissedbytheboardofdirectors;

(9)decidingontheseniorexecutivesdispatchedbytheCompanytothecontrolled

subsidiariesandnon-controlledsubsidiariesoftheCompany;

(10)proposingforconveninganinterimmeetingoftheboardofdirectors;

(11)advancingproposalstomeetingoftheboardofdirectors;

(12)approvingtransactionsoftheCompanythatdonotmeetthecriteriafor

submissiontotheboardofdirectorsforapprovalassetoutinArticle115oftheseArticlesofAssociation;and

(13)otherfunctionsandpowersconferredbytheseArticlesofAssociationorthe

boardofdirectors.ThePresidentandCEOshallsitonthemeetingoftheboardofdirectors.

Article151TheworkparticularsapplicabletothePresidentandCEOshallbepreparedbythePresidentandCEOandmaynotbeimplementedunlessapprovedbytheboardofdirectors.Article152TheworkparticularsapplicabletothePresidentandCEOshallinclude:

(1)conditions,proceduresforholdingthemeetingofthePresidentandCEOandthepeopleattendingsuchmeeting;

(2)respectivedutiesandfunctionsandpowersofthePresidentandCEO;

(3)powersdelegatedbytheboardofdirectorstothePresidentandCEOandthewaytoconvenethePresidentandCEOmeeting;and

(4)othermattersdeemednecessarybytheboardofdirectors.Article153ThePresidentandCEOmayresignpriortotheexpiryofhistermofoffice.ThespecificproceduresandmeasuresforsuchresignationshallbesetforthinthelaborcontractbetweenthePresidentandCEOandtheCompany.Article154ChiefFinancialOfficershallassistthePresidentandCEOinhiswork.Article155TheCompanyshallhaveasecretaryoftheboardofdirectorswhoshallberesponsibleforpreparingtheshareholders'meetingandthemeetingoftheboardofdirectors,keepingdocuments,conductingmanagementofinformationregardingshareholdersoftheCompanyanddealingwithinformationdisclosurematters,etc.Thesecretaryoftheboardofdirectorsshallabidebytherelatedprovisionsofthelaws,administrativeregulations,regulationsofministriesandcommissionsandtheseArticlesofAssociation.TheworkparticularsapplicabletothesecretaryoftheboardofdirectorsshallbepreparedbytheCompany,whichincludestheposition,maindutyandqualification,functionsandpowers,supervision,legalliabilityandresignationofthesecretaryoftheboardofdirectors.Theworkparticularsapplicabletothesecretaryoftheboardofdirectorsshallbeapprovedbythemeetingoftheboardofdirectors.Article156WheretheseniorexecutivesperformstheirdutiesintheCompany,causingharmtoothers,theCompanyshallbeliableforcompensation.Iftheseniorexecutiveshavebeenintentionalorhavegrossnegligence,theyshallalsoberesponsibleforcompensation.

Wheretheseniorexecutivesviolatelaws,administrativeregulations,regulationsofministriesandcommissionsortheseArticlesofAssociationwhenperformingtheirduties,thuscausinglossestotheCompany,theyshallbeliableforcompensationaccordingandsubjecttoanyapplicablelawsandregulations.Article157TheseniorexecutivesoftheCompanyshallfaithfullyperformtheirdutiesandactinthebestinterestsoftheCompanyandallshareholders.Whereanyseniorexecutivefailstoperformhis/herdutiesfaithfullyorbreacheshis/herobligationofgoodfaith,andtherebycausesdamagetotheCompany'sinterestsortheshareholdersofpublicshares,he/sheshallbeliableforcompensationaccordingandsubjecttoanyapplicablelaw.Chapter8FinancialandAccountingSystems,ProfitDistributionandAuditingSection1FinancialandAccountingSystemsArticle158TheCompanyshallformulateitsfinancialandaccountingsystemsinaccordancewiththelaws,administrativeregulationsandtheprovisionsofrelevantStateauthorities.Article159TheCompanyshallsubmitanddiscloseitsannualreporttothelocalagencyoftheCSRCandthestockexchangeconcernedwithinfourmonthsaftertheendofeachfiscalyear,andsubmitanddiscloseaninterimreporttothelocalagencyoftheCSRCandthestockexchangeconcernedwithintwomonthsaftertheendofthefirsthalfofeachfiscalyear.Theaforesaidannualandinterimreportsshallbepreparedaccordingtotherelevantlaws,administrativeregulations,provisionsoftheCSRCandthestockexchangeconcerned.Article160TheCompanyshallnotestablishanyotheraccountingbooksexceptforthestatutoryones.NofundsoftheCompanyshallbedepositedinanyaccountopenedinthenameofanyindividual.Article161Whendistributingeachyear'safter-taxprofits,theCompanyshallwithdraw10%ofitsafter-taxprofitsfortheCompany'sstatutorycommonreservefund.Whentheaggregatebalanceinthestatutorycommonreservefundis50%ormoreoftheregisteredcapitaloftheCompany,itisnotnecessarytowithdrawanyprofits.WhentheCompany'sstatutorycommonreservefundisnotsufficienttomakeupfor

theCompany'slossesofthepreviousyear,profitsofthecurrentyearshallbeusedtomakeupforthelossesbeforeallocationsaremadeforthestatutorycommonreservefundinaccordancewiththepreviousparagraph.Afterhavingwithdrawingthestatutorycommonreservefundfromtheafter-taxprofits,theCompanymayalso,withtheapprovaloftheresolutionoftheshareholders'meeting,withdrawanycommonreservefundfromtheafter-taxprofits.AftertheCompanyhasmadeupitslossesandmadeallocationstoitscommonreservefund,theremainingafter-taxprofitsshallbedistributedinproportiontothenumberofsharesheldbytheshareholders,unlessotherwisespecifiedbytheseArticlesofAssociation.Iftheshareholders'meetingviolatestheCompanyLawbydistributingprofitstoshareholders,theshareholdersshallreturnthedistributedprofitstotheCompany.IflossesarecausedtotheCompany,theshareholdersandtheresponsibledirectorsandseniorexecutivesshallbeliableforcompensation.ThesharesheldbytheCompanyitselfshallnotparticipateinprofitdistribution.Article162ThecommonreservefundoftheCompanyisusedtomakeupitslosses,expanditsproductionandoperationsorforconversionintoadditionalregisteredcapitaloftheCompany.FormakinguplossesoftheCompanybythereservefund,thecommonreservefundandstatutorycommonreservefundshallfirstbeused;wherethereisstillnowaytomakeuplosses,thecapitalreservefundmaybeusedpursuanttotheprovisions.Whenthestatutorycommonreservefundisconvertedtocapital,thebalanceofsuchfundshallbenolessthan25%oftheregisteredcapitalpriortosuchconversion.Article163Aftertheshareholders’meetinghasadoptedtheresolutionontheplanfordistributionoftheCompany'sprofits,theboardofdirectorsoftheCompanyshallcompletethedistributionofdividends(orshares)withintwomonthsfromthedateoftheshareholders'meeting.ThedividendsorotherpaymentdistributedtotheshareholdersofthedomesticsharesbytheCompanyshallbecalculatedandannouncedinRMBandpaidinRMB;thedividendsorotherpaymentdistributedtotheshareholdersofdomesticallylistedforeign-fundedsharesbytheCompanyshallbecalculatedandannouncedinRMBandpaidinHongKongDollar;dividendsofdomesticallylistedforeign-fundedsharesmayberemittedoutofChinaaccordingtoprovisionoflawsandrules.TherequiredHongKongdollarsregardingthedividendsorotherpaymentdistributed

totheshareholdersofdomesticallylistedforeign-fundedsharesshallbesettledaccordingtorelevantprovisionofforeignexchangeofChina.TheapplicableexchangerateshallbetheintermediatepriceoftheHongKongDollarinexchangetoRMBannouncedbythePeople’sBankofChinaonthefirstworkingdayaftertheresolutionoftheshareholder’smeeting.Article164ThePolicyandDecision-makingProcessofDistributingProfitsoftheCompany(I)GeneralprinciplesofdistributingprofitsoftheCompany

1.TheCompanyshallfullyconsiderthereturntoinvestorsanddistributetheprofitsofsharestotheshareholdersaccordingtotheproportionoftheprofitavailablefordistributionassetforthintheconsolidatedstatementsofthecurrentyear.

2.TheCompanyshallimplementacontinuousandstableprofitdistributionpolicy,takingintoaccountthelong-terminterestsoftheCompany,theoverallinterestsofallshareholdersandthesustainabledevelopmentoftheCompany;

3.WhereashareholderoccupiedtheCompany'sfundsinviolationofrules,whentheCompanydistributesprofits,thosefundsoccupiedbytheshareholdershallbedeductedfromcashdividendssupposedtobeallocatedtohim.(II)TheintervalofdistributionofprofitsWheretheCompanyisprofitableanditsprofitavailablefordistributionispositiveinthecurrentyear,theCompanyshalldistributetheprofitsonceayeargenerally.WheretheCompany'sprofitscale,cashflowstatusanddemandforfundsinthecurrentperiodallows,interimdividendsmaybedistributed.(III)Thespecificpoliciesfordistributionofprofitsareasfollows:

1.Theformofdistributionofprofits:theCompanymayusecash,sharesorcashand

sharesincombination,orotherwayspermittedbylawsandregulationstodistributeprofits.

2.TheconditionsandproportionofdistributingcashdividendsoftheCompany:

TheCompanyshalldistributecashdividendsiftheCompanyisprofitableanditsaccumulatedundistributedprofitsarepositiveinthecurrentyear,andtherearenosignificantinvestmentplansormajorcashdisbursementswhichwillaffectthedistributionofprofits.Thestandardoftheabovementionedsignificantinvestmentplansormajorcash

disbursementsshallbeconstruedwithrelevantprovisionsasrequiredbytheListingRulesofShenzhenStockExchange.TheannualcashdistributionofprofitsoftheCompanyshallnotbelessthan10%ofprofitavailablefordistributionoftheyear,andthecumulativecashdistributionofprofitsoftheCompanyshallnotbelessthan30%ofaverageannualprofitavailablefordistributionduringthelastthreeyears.

3.TheconditionsofdistributingstockdividendsoftheCompany

WheretheCompanywelloperatesandtheboardofdirectorsbelievesthattheissuanceofstockdividendsisbeneficialtotheoverallinterestsofallshareholdersoftheCompany,theboardofdirectorsmay,inthecaseofsatisfyingtheconditionsofabovementionedcashdividends,proposeastockdistributionplanfordividendoftheCompany.(IV)Theexaminationanddeliberationprocedureofprofitdistributionplan:

1.Theboardofdirectorsshall,accordingtothesituationofprofitability,thesupply

anddemandoffunds,proposeaplanforthedistributionofprofits,anddiscussthereasonablenessofsuchplan,andsubmittothespecializedmeetingoftheindependentdirectorsfordeliberation.IndependentdirectorswhobelievethattheprofitdistributionplanmayharmtheinterestsoftheCompanyorminorityshareholdersshallhavetherighttoexpressindependentopinions.Theprofitdistributionplanshallbesubmittedtotheauditcommitteeandtheboardofdirectorsforexamination,deliberationandapproval,andafterapprovedbytheauditcommitteeandtheboardofdirectors,theplanshallbesubmittedtotheshareholders'meetingforexaminationanddeliberation.Whenexamininganddeliberatingtheprofitdistributionplan,thevotingmethodadoptedbytheshareholders'meetingmaybeonlinevotingunderspecialcircumstancesinadditiontoon-sitevoting.MinorityshareholdersandindependentdirectorsmaycollectvotingrightsaccordingtotheseArticlesofAssociation,forthefullexerciseofshareholders'votingrightsbytheshareholders.Whentheshareholders’meetingexaminesanddeliberatethecashdividendplan,itshouldcommunicatewithshareholders,especiallyminorityshareholdersthroughavarietyofchannels,ensurethatcommunicationchannelsaresmooth,fullylistentotheviewsandclaimsofminorityshareholders,andanswerquestionsofminorityshareholderspromptly.

2.WheretheCompanyisprofitableandaccumulatedundistributedprofitoftheCompanyofthecurrentyearispositive,butfailstoproposeacashprofitdistributionplan,theboardofdirectorsshouldmakespecialclarificationsastothe

specificreasonsfornotdistributingcashprofit,thespecificuseoftheretainedearningsoftheCompanyandexpectedreturnonsuchinvestment,etc.,whichshallbesubmittedtotheshareholder’smeetingforexaminationanddeliberationafteropinedonbytheindependentdirectors.(V)AdjustmentofprofitdistributionpolicyWhere,duetomajorchangesinexternalbusinessenvironmentoritsownoperatingconditions,theCompanydoesneedtoaltertheprofitdistributionpolicysetforthintheArticlesofAssociation.Suchalterationshallbeapprovedbytheboardofdirectorsafterexaminationanddeliberationthereofandthensubmittedtotheshareholders’meetingforexaminationanddeliberationandshallbeapprovedbymorethan2/3ofthevotingrightsofshareholders(orproxiesthereof)whoattendtheshareholders'meeting.TheadjustedprofitdistributionplanshallnotviolatetherelevantprovisionsoftheCSRCandShenzhenStockExchange.Whenexamininganddeliberatingsuchalteration,theCompanyshallprovideshareholderswithwayofonlinevoting.Section2InternalAuditArticle165TheCompanyshallimplementtheinternalauditingsystem,specifyingleadershipsystem,dutiesandlimitofauthority,staffing,budgetassurance,applicationofauditfindingsandaccountabilityetc.forinternalauditwork.TheinternalauditingsystemoftheCompanyshallbeimplementeduponapprovalbytheboardofdirectorsanddisclosedtothepublic.Article166TheinternalauditingdepartmentoftheCompanyshallsuperviseandinspecttheCompany'sbusinessactivities,riskmanagement,internalcontrol,financialinformationetc.Article167Theinternalauditingdepartmentshallberesponsibletotheboardofdirectors.Theinternalauditingdepartmentshall,inthecourseofsupervisionandinspectionoftheCompany'sbusinessactivities,riskmanagement,internalcontrol,financialinformation,acceptsupervisionandguidanceoftheauditcommittee.Upondiscoveryoftherelevantsignificantissuesorclues,theinternalauditingdepartmentshallforthwithreportdirectlytotheauditcommittee.Article168TheinternalauditingdepartmentshallberesponsiblefororganizingimplementationoftheCompany'sinternalcontrolassessment.TheCompanyshallissueanannualinternalcontrolassessmentreportbasedontheassessmentreport

issuedbytheinternalauditingdepartmentanddeliberatedbytheauditcommitteeandtherelevantmaterials.Article169WhentheauditcommitteecommunicateswiththeexternalauditorganisationssuchasaccountingfirmsandStateauditorganisationsetc.,theinternalauditingdepartmentshallcooperateactivelyandprovidetherequisitesupportandcooperation.Article170Theauditcommitteeshallparticipateinappraisalofheadofinternalaudit.Section3AppointmentofAccountingFirmsArticle171AccountingfirmsthatconformstotheprovisionsoftheSecuritiesLawshallbeengagedbytheCompanytorendersuchservicesastheauditingofaccountingstatements,verificationofnetassetsandotherrelevantconsultingmatters.Theappointmentofaccountingfirmswillbevalidforoneyearandmayberenewed.Article172TheappointmentordismissalofaccountingfirmsbytheCompanyshallbedecidedbytheshareholders'meeting,andtheboardofdirectorsshallnotappointtheaccountingfirmbeforetheresolutionisadoptedbytheshareholders'meeting.Article173TheCompanyshallensuretoprovidetheengagedaccountingfirmwithauthenticandcompleteaccountingevidence,accountingbooks,financialandaccountingreportsandotheraccountingmaterials,andshallnotrefusetoprovide,concealorfalselyreportthem.Article174Theauditingfeefortheaccountingfirmshallbedecidedbytheshareholders'meeting.Article175WheretheCompanydismissesordoesnotrenewthemandateoftheaccountingfirm,itshallinformtheaccountingfirm30daysinadvancetosucheffect.Wheretheshareholders’meetingvotesonthedismissaloftheaccountingfirm,theaccountingfirmshallbepermittedtostateitsopinions.Wheretheaccountingfirmsresign,theaccountingfirmshallreporttotheshareholders'meetingwhetherthereisanyabnormalsituationfoundintheCompany.

Chapter9NoticesandAnnouncementsSection1NoticeArticle176AnynoticeoftheCompanyshallbesentoutbythefollowingmeans:

(1)personaldelivery;

(2)mail;

(3)e-mailorfax;

(4)announcement;

(5)anyothermeansprescribedintheseArticlesofAssociation.Article177WherethenoticeoftheCompanyissentoutbythemeansofannouncement,uponthesaidannouncementthenoticeshallbedeemedtohavebeeneffectivelyservedtoallpartiesconcerned.Article178Thenoticeoftheshareholders'meetingheldbytheCompanyshallbesentoutbymeansofannouncement.Article179Thenoticeofthemeetingoftheboardofdirectorsshallbesentoutbymeansofpersonaldelivery,mail,e-mailorfax,exceptasprovidedotherwiseinthisArticle.Article180Wherethenoticeissentoutbypersonaldelivery,itshallbedeemedeffectivelyservedonthedaywhenthereceiversigns(seals)thereturnreceipt;wherebymail,onthefifthworkingdaysafterbeingturnedovertothepostoffice;wherebymeansofemailandfaxandthereareevidenceprovingsuchsendingout,onthedayofsendingout;wherebymeansofannouncement,onthedayofthefirstpublicannouncement.Article181Wherethemeetingnoticeisnotsenttothepersonentitledtoreceivethesameduetoanyaccidentalomissionorwherenomeetingnoticeisreceivedbysuchperson,thevalidityofthemeetingandofanyresolutionadoptedatthemeetingshallnotbethusinvalid.

Section2AnnouncementArticle182TheCompanydesignatesChinaSecuritiesJournalandSecuritiesTimesastheChinesenewspaperforreleaseofCompany'sannouncementanddisclosureofotherinformation;TheCompanydesignateshttp://www.cninfo.com.cnasthewebsiteforthepublicationofCompany'sannouncementanddisclosureofotherinformation.Chapter10Merger/Consolidation,Spin-off,CapitalIncrease,CapitalReduction,DissolutionandLiquidationSection1Merger/Consolidation,Spin-off,CapitalIncreaseandCapitalReductionArticle183Companymergers/consolidationsmaybeclassifiedintomergersorconsolidations.MergeriswhereoneCompanymergeswithanotherCompanywherebytheabsorbedCompanyshallbedissolved.ConsolidationiswhereatleasttwocompaniesareconsolidatedintoanewCompanywherebytheconsolidatedpartiesaredissolvedrespectively.Article184Wheretheconsiderationpaidforthemerger/consolidationdoesnotexceed10%oftheCompany'snetassets,aresolutionofashareholders'meetingmaybewaived,unlessotherwisestipulatedintheArticlesofAssociation.Whereashareholders'meetingisnotrequiredforamerger/consolidationpursuanttotheprovisionsoftheprecedingparagraph,aresolutionofaboardofdirectorsshallbepassed.Article185Themerger/consolidationofcompaniesshallrequireamerger/consolidationcontractsignedbyallthemerger/consolidationpartiesandthebalancesheetandinventoryofpropertiesshallbeprepared.TheCompanyshallwithin10daysfromthedateofthemerger/consolidationresolutionismade,notifyitscreditorsandmaketheannouncementinrelevantmediasortheNationalEnterpriseCreditInformationPublicitySystemwithin30days.Thecreditorsmay,within30daysfromthedateofthereceiptofthesaidnoticeorifreceivingnonoticewithin45daysfromthedateofthesaidannouncement,asktheCompanytodischargethe

Company'sdebtsorprovidetherelevantguarantees.Article186Uponthemerger/consolidationoftheCompany,thecreditanddebtsofalltherelevantmerger/consolidationpartiesshallbesucceededbytheCompanysurvivingthesaidmerger/consolidationorthenewly-establishedCompany.Article187Inthecaseofthespin-offoftheCompany,itsassetsshallbedividedcorrespondingly.Inthecaseofthespin-offoftheCompany,thebalancesheetandtheinventoryofpropertiesshallbeprepared.TheCompanyshallinformitscreditorswithin10daysfromthedateofdivisionresolution,andmakeanannouncementinrelevantmediasortheNationalEnterpriseCreditInformationPublicitySystemwithin30days.Article188ForthedebtsoftheCompanypriortothesaidspin-off,theCompanyexistingthereaftershallbearthejointandseveralliabilities,unlessotherwisespecifiedinthewrittenagreementwhichisconcludedbeforethesaidspin-offbytheCompanywithitscreditorsonthedischargeoftheCompany'sdebts.Article189WheretheCompanyneedstoreduceitsregisteredcapital,itshallpreparethebalancesheetandtheinventoryofproperties.TheCompanyshallnotifyitscreditorswithin10daysfromthedateofresolutionondecreaseintheregisteredcapitalbytheshareholders'meetingandmaketheannouncementinrelevantmediaortheNationalEnterpriseCreditInformationPublicitySystemwithin30days.Thecreditorsshall,within30daysfromthedateofthereceiptofthesaidnoticeoriffailingtoreceivesuchnoticewithin45daysfromthedateofthesaidannouncement,havetherighttoasktheCompanytodischargetheCompany'sdebtsorprovidetherelevantguarantees.TheCompanyproposingtoreduceitsregisteredcapitalshallreducethecapitalcontributionamountorsharescorrespondinglyinaccordancewiththeshareholdingpercentageoftheshareholders,unlessotherwisestipulatedbythelawsorintheArticlesofAssociation.Article190WheretherearestilllossesfollowingmakingupoflossespursuanttotheprovisionsofthesecondparagraphofArticle162,theCompanymayreduceitsregisteredcapitaltomakeupthelosses.WheretheCompanyreducesitsregisteredcapitaltomakeupthelosses,itshallnotmakedistributiontoitsshareholdersandshallnotwaivetheobligationsofshareholderstomakecapitalcontributionorsharecapital.TheprovisionsofthesecondparagraphofArticle189shallnotapplytoreductionofregisteredcapitalpursuanttotheprovisionsoftheprecedingparagraph,butan

announcementshallbemadeinrelevantmediaortheNationalEnterpriseCreditInformationPublicitySystemwithin30daysfrompassingoftheresolutiononreductionofregisteredcapitalbytheshareholders'meeting.AftertheCompanyhasreduceditsregisteredcapitalpursuanttotheprovisionsoftheprecedingtwoparagraphs,noprofitshallbedistributedbeforetheaccumulatedamountofthestatutorycommonreservefundandthecommonreservefundaccountsfor50%oftheCompany'sregisteredcapital.Article191WheretheregisteredcapitalisreducedinviolationoftheCompanyLaworotherrelevantprovisions,shareholdersshallrefundthecapitalreceivedthereby;wheretheshareholders'capitalcontributionsareexemptedorreduced,theoriginalstatusshallberestored;wheretheCompanysuffersanyloss,theshareholdersandtheresponsibledirectorsandseniorexecutivesshallbeartheliabilityforcompensation.Article192WhentheCompanyissuesnewsharestoincreaseitsregisteredcapital,itsshareholdersdonotenjoythepre-emptiveright,unlessotherwisespecifiedintheArticlesofAssociationordecidedbytheresolutionofashareholders'meetingthattheshareholdersenjoythepre-emptiveright.Article193WheretheCompanyundertakesmerger/consolidationorspin-offthusalteringitsregistrationitems,itshallhandleaccordingtothelawtheformalitiesofalterationofitsregistrationwiththeCompanyregistrationauthority;wheretheCompanyisdissolved,itshallcancelitsregistrationlegally;whereanewCompanyisestablished,itshalldealwithCompanyestablishmentregistrationformalitiesinaccordancewiththelaw.TheCompanyshall,ifincreasingordecreasingitsregisteredcapital,handlethealterationregistrationformalitieswiththeCompanyregistrationauthorityinaccordancewiththelaw.Section2DissolutionandLiquidationArticle194TheCompanymaybedissolvedduetoanyofthefollowingsreasons:

(1)pursuanttotheseArticlesofAssociation,theoperationalperiodoftheCompanyhasexpiredoroneoftheothereventswhicharegroundsfordissolutionhasoccurred;

(2)resolutionofdissolutionmadebytheshareholders'meeting;

(3)dissolutionisnecessaryduetothemerger/consolidationorspin-offoftheCompany;

(4)businesslicenseisrevoked,canceledoritisorderedtoclosedown,accordingto

thelaw;or

(5)iftheCompanyhasgreatdifficultiesinbusinessoperationandmanagementand

itscontinuationmayincursignificantlossestotheshareholders,whichcannotbesolvedbyothermeans,thentheshareholdersholdingmorethan10%ofthevotingsharesoftheCompanymayrequesttothepeople'scourtfordissolutionoftheCompany.Uponoccurrenceofaneventwhichtriggersdissolutionasstipulatedintheprecedingparagraph,anannouncementshallbemadethroughtheNationalEnterpriseCreditInformationPublicitySystemwithin10days.Article195TheCompanymaysurvivebyamendingitsArticlesofAssociationorpassingaresolutionbytheshareholders'meetinginthecaseofthecircumstancementionedinItem(1)and(2)ofArticle194.AnyamendmentofArticlesofAssociationorresolutionpassedbytheshareholders'meetingpursuanttotheprecedingparagraphshallrequiretheapprovalofmorethan2/3ofthevotingrightsrepresentedbytheshareholdersattendingtheshareholders'meeting.WheretheCompanyisdissolvedinaccordancewiththeprovisionsinItems(1),(2),

(4),and(5)ofArticle194hereof,itshallundergoliquidation.AstheliquidationobligorsoftheCompany,directorsshallformaliquidationteamtocarryoutliquidationwithin15daysfromoccurrenceoftheeventwhichtriggersdissolution.Theliquidationteamshallcomprisedirectors,unlessotherwiseprovidedintheArticlesofAssociationorasresolvedbyashareholders'meetingtoelectothers.WheretheliquidationobligorsfailtoperformliquidationobligationspromptlyandcausetheCompanyoritscreditorstosufferlosses,theyshallbeliableforcompensation.Article196Theliquidationgroupshalldischargethefollowsdutiesduringitsliquidation:

(1)liquidatingtheCompany'sassets,andrespectivelypreparingthebalancesheetand

theinventoryofassets;

(2)notifyingandmakinganannouncementtothecreditors;

(3)transactingtheunfinishedbusinessesoftheCompanyinconnectionwiththeliquidating;

(4)makingfullpaymentoftaxesowedandtaxesimposedduringtheprocessofliquidation;

(5)clearingthecreditor'sclaimsanddebt;

(6)distributingtheresidualpropertiesaftertheCompanyhasdischargeditsdebts;and

(7)representingtheCompanyinanycivillitigations.Article197Theliquidationgroupshallnotifythecreditorswithin10daysfromthedateofitsestablishmentandmaketheannouncementwithin60daysinnewspaperappointedbytheCSRCortheNationalEnterpriseCreditInformationPublicitySystem.Thecreditorsshall,within30daysfromthedateofthereceiptofthesaidnotice,oriffailingtoreceivesuchnotice,within45daysfromthedateofthesaidannouncement,declaretheircreditors'rightstotheliquidationgroup.Whenreportingclaims,thecreditorsshallexplainmattersrelevanttotheirclaimsandshallprovideevidentiarymaterials.Theliquidationgroupshallregistercreditor'sclaims.Duringthedeclarationofthecreditor'sclaims,theliquidationgroupshallnotdischargethedebtsofcreditors.Article198Theliquidationgroupshall,afterhavingliquidatedtheCompany'assetsandpreparedthebalancesheetandtheinventoryofproperties,formulatetheliquidationplanandsubmitittotheshareholders'meetingorthepeople'scourtforconfirmation.TheportionoftheCompany'spropertiesremainingaftertheyareusedtopayfortheliquidationexpense,salaryofthestaffandworkers,socialinsuranceexpense,statutorycompensation,andthetaxesanddebtsinarrears,shallbedistributedbytheCompanyinproportionstosharesheldbytheshareholders.TheCompanyshall,duringtheliquidationperiod,remaininexistence,butshallnotcarryoutactivitiesirrelevanttotheliquidation.TheCompany'sproperties,beforetheyareusedtodischargetheCompany'sdebtsinaccordancewiththeprecedingparagraph,maynotbedistributedtotheshareholders.Article199WhereafterliquidatingtheCompany'spropertiesandpreparingthe

balancesheetandtheinventoryofproperties,theliquidationgroupdiscoversthattheCompany'spropertiesareinsufficienttorepaytheCompany'sdebts,itshallapplyforbankruptcyliquidationtothepeople'scourt.Uponacceptanceofabankruptcyapplicationbyapeople'scourt,theliquidationteamshallhandovertheliquidationmatterstothebankruptcyadministratordesignatedbythepeople'scourt.Article200Afterthecompletionoftheliquidation,theliquidationgroupshalldevisealiquidationreportandsubmitittotheshareholders'meetingorthepeople'scourtforconfirmationandalsototheCompanyregistrationauthorityforcancellationoftheCompany'sregistration.Article201Membersoftheliquidationteamshallperformliquidationdutiesandbeartheobligationsofloyaltyanddiligence.WheretheliquidationteammembersarenegligentinperformanceofliquidationdutiesandcausetheCompanytosufferlosses,theyshallbeliableforcompensation;wheretheycauselossestocreditorsduetointentionalmisconductorgrossnegligence,theyshallbeliableforcompensation.Article202WheretheCompanyislawfullydeclaredbankrupt,itshallcarryoutbankruptcyliquidationinaccordancewithlawsconcerningthebankruptcyofenterprises.Chapter11AmendmentstotheArticlesofAssociationArticle203TheCompanyshallamendtheseArticlesofAssociationinanyofthefollowingcircumstances:

(1)aftertheCompanyLaworotherrelevantlawsoradministrativeregulationsareamended,themattersspecifiedundertheseArticlesofAssociationareinconflictwiththeprovisionsofthelaws,oradministrativeregulationsasamended;

(2)anychangeoccursintheCompanyanditisthusnotinconformitywiththemattersrecordedintheCompany'sArticlesofAssociation;or

(3)anyamendmenttotheArticlesofAssociationoftheCompanyisdecidedbythe

shareholders'meeting.Article204WhereanyamendmenttotheArticlesofAssociationoftheCompanyaspassedbyresolutionoftheshareholders'meetingrequirestheexaminationandapprovalofthecompetentauthority,suchamendmentshallbe

submittedtothecompetentauthorityforapproval;whereregistrationmattersareinvolved,theformalitiesofamendingregistrationshallbehandledaccordingtothelaw.Article205TheboardofdirectorsshallamendtheseArticlesofAssociationinaccordancewiththeresolutionsadoptedbytheshareholders'meetingonamendmenttotheCompany'sArticlesofAssociationandpursuanttotheapprovalopinionsofthecompetentauthority.Article206WhereanyamendmenttotheseArticlesofAssociationisrelatedtoinformationrequiredbylawsandregulationstobedisclosed,suchamendmentshallbeannouncedinaccordancewiththerelevantprovisions.Chapter12SupplementaryProvisionsArticle207Definitions

(1)The"controllingshareholders"shallrefertotheshareholderswhoseholdingsofsharesaccountformorethan50%ofthetotalsharesintheCompany;orshareholderswhodoesnotholdmorethan50%ofthetotalsharesintheCompanybutwhosesharescanrepresentsuchvotingrightsassufficienttogreatlyaffecttheresolutionsmadebytheshareholders'meeting.

(2)The"actualcontrollers"shallrefertothenaturalpersons,legalpersonsorany

otherorganisations,whoareabletoactuallycontroltheactsoftheCompanythroughinvestmentrelationship,accordingtoagreementorbyanyotherarrangement.

(3)The"affiliatedrelationship"shallrefertotherelationshipbetweentheCompany'scontrollingshareholders,actualcontrollers,directors,seniorexecutives,andenterprisesdirectlyorindirectlyundertheircontrol,aswellasanyotherrelationshipwhichmaycausetransferoftheCompany'sinterests.However,therelationshipbetweenState-controlledenterprisesisnotanaffiliatedrelationshipduetothefactthatsuchenterprisesareunderthecommoncontroloftheState.Article208Theboardofdirectorsmay,inaccordancewithitsArticlesofAssociation,formulatedetailedrulesforimplementationoftheseArticlesofAssociationwhichshallnotgoagainsttheprovisionsthereof.Article209TheseArticlesofAssociationshallbewritteninChinese.WhereaversioninanyotherlanguageoradifferentversionisinconflictwiththeseArticlesofAssociation,themostrecentlyapprovedChineseversionasregisteredwithJingzhouMunicipalAdministrationforMarketRegulationshallprevail.

Article210Suchtermsas"nolessthan","within"and"nomorethan"usedintheseArticlesofAssociationshallincludethegivenfigures;suchtermsas"exceeding","beyond","lessthan"and"morethan"usedintheseArticlesofAssociationshallexcludethegivenfigures.Article211TheseArticlesofAssociationshallbeinterpretedbytheboardofdirectorsoftheCompany.Article212AnyappendixtotheseArticlesofAssociationshallincludetheproceduralrulesoftheshareholders'meetingandthemeetingoftheboardofdirectors.Article213TheseArticlesofAssociationshallcomeintoeffectonthedateofresolutionofshareholder’smeetingthereof.

ADAMALtd.