冰山冷热：公司章程(2026年第一次临时股东会审议通过,英文)

ARTICLESOFASSOCIATIONOFBingshanRefrigeration&HeatTransfer

TechnologiesCo.,Ltd.

Itwillcomeintoeffectafterbeingreviewedat

stExtraordinaryShareholders’GeneralMeetingof2026

[Englishtranslationforreferenceonly.ShouldtherebeanyinconsistencebetweentheChineseandEnglishversion,thenthe

Chineseversionshouldprevail.]

CONTENTSChapter1GeneralProvisions…………………………………………………3Chapter2Objectives,ScopeofBusinessandMethodofOperation…….….4Chapter3RegisteredCapital,ShareandShareCertificates……….…….5Chapter4Shareholders……………………………………………………...….11Chapter5GeneralMeeting………………………………………………….…15Chapter6BoardofDirectors……………..……………………………………25Chapter7SpecialCommitteesoftheBoardofDirectors…………………………35Chapter8BusinessManagementStructure……………………..……………36Chapter9LabourandPersonnelManagement…………………..………….38Chapter10Finance,AccountingandAuditing……………………………39Chapter11ProfitsDistribution…………………………………………….41Chapter12MergerandDivision…………………………………………44Chapter13DissolutionandLiquidation……………………………………45Chapter14DisclosureofInformation…………………………………….47Chapter15AmendmentoftheArticlesofAssociation………………..47Chapter16SupplementaryProvisions……………………………………48

Chapter1GeneralProvisionsArticle1.1PrinciplesoftheArticlesofAssociationPursuanttothe"CompanyLawofthePeople'sRepublicofChina"(the"CompanyLaw"),theSecuritiesLawofthePeople'sRepublicofChina(the“SecuritiesLaw”)andotherrelevantlaws,rulesandregulations,theArticlesofAssociationarepreparedwithaviewtoestablishingthelegalstatusofBingshanRefrigeration&HeatTransferTechnologiesCo.,Ltd.(the"Company"),regulatingtheoperations,management,organizationandactivitiesoftheCompany,andprotectingthelegalinterestsoftheCompany,shareholders,employeesandcreditors.Article1.2Name,AddressandLegalRepresentativeoftheCompanyTheregisteredChinesenameoftheCompanyis:冰山冷热科技股份有限公司TheEnglishnameoftheCompanyis:BingshanRefrigeration&HeatTransferTechnologiesCo.,Ltd.TheaddressoftheCompanyis:106EastRoadofLiaohe,DalianCityEconomicandTechnologicalDevelopmentZonewithpostcode116630TheChairmanoftheCompanyshallbethelegalrepresentativeoftheCompany.Whereadirectorwhoservesasthelegalrepresentativeresigns,itshallbedeemedthatheorshehassimultaneouslyresignedasthelegalrepresentative.Ifthelegalrepresentativeresigns,theCompanywilldetermineanewlegalrepresentativewithin30daysfromthedateofthelegalrepresentative'sresignation.ThelegalconsequencesofcivilactivitiesconductedbythelegalrepresentativeinthenameoftheCompanyshallbebornebytheCompany.Therestrictionsimposedbythischarterortheshareholders'meetingonthepowersofthelegalrepresentativeshallnotbeenforceableagainstabonafidecounterparty.Wherethelegalrepresentativecausesdamagetoothersinthecourseofperforminghisduties,theCompanyshallbearcivilliability.AfteraCompanyassumescivilliability,itmay,inaccordancewiththelawortheprovisionsofthesearticlesofassociation,seekcompensationfromthelegalrepresentativewhoisatfault.Article1.3MethodofEstablishingtheCompanyTheDalianBingshanGroupCompanyactedasthepromoterpursuanttothedocumentNo.(1993)7issuedbytheDalianEconomicSystemReformCommittee,convertedthestated-ownedassetsinDalianRefrigerationFactoryintostatesharesasauthorizedbytheDalianState-ownedAssetsAdministrationBureau,andthensetuptheCompanybywayofainitialpublicofferoflegalpersonshares,publicindividualsharesandemployeeshareswiththeapprovaloftheChinaSecuritiesRegulatoryCommission.TheCompanywasregisteredwiththeDalianAdministrativeBureauForIndustryandCommerceon18thDecember,1993andobtainedabusinesslicenseNo.24236130-0.Article1.4FormoftheCompanyTheCompanytakestheformofaCompanylimitedbyshares,i.e.theentirecapitaloftheCompanyisdividedintoshareswithequalnominalvalueandtheliabilityofashareholdertotheCompanyislimitedtothenominalvalueofthesharesheldbytheshareholder.TheCompanycommitsitsentireassetstoassumeitsliabilities.Article1.5LegalStatusoftheCompanyTheCompanypossessesthestatusofanindependentlegalperson.ThelawsofthePeople'sRepublicofChina(the"PRC")governtheCompany'sactivitiesandprotectthelegalrightsandinterestsoftheCompany.TheCompanyshallenjoyexclusiveproprietary

rightsovertheassetsinjectedintotheCompanybytheshareholders(includingtheState).TheCompanyshallhaveindependentautonomyoveritsoperation,managementandfinancialbudget,andshallenjoycivilrightsandassumecivilliabilitiesinaccordancewiththelaws.Article1.6PrincipleofPurchasingSharesintheCompanyTheCompanyshallensurethatthesharesintheCompanyarepurchasedvoluntarilyandthatthesamerightsinrelationtothesharingofprofitsandtheassumptionofrisksshallattachtosharesofthesameclass.Article1.7ExternalInvestmentTheCompanyhastherighttoinvestinotherlimitedcompaniesorjointstockcompaniesandassumesliabilitiesaslimitedbytheamountofinvestment.TheCompanyshallnotbecomeashareholderwithunlimitedliabilityofanyprofit-makingorganizations.Article1.8ExternalguaranteeTheCompanycannotguaranteeforanyentitywithoutlegalpersonalityorpersonal.WhenaCompanyprovidesaguarantee,itshallnotonlybeapprovedbymorethanhalfofallthedirectors,butalsobeapprovedbymorethantwo-thirdsofthedirectorspresentattheboardmeetingandaresolutionshallbemade,andtheguaranteeshallbedisclosedtothepublicinatimelymanner.ThefollowingexternalguaranteeactsoftheCompanyshallbesubjecttotheapprovaloftheshareholders'meeting:

(1)AnyguaranteeprovidedbytheCompanyanditswholly-ownedsubsidiariesafterthetotalamountofexternalguaranteesexceeds50%ofthelatestauditednetassets;

(2)AnyguaranteeprovidedbytheCompanyafterthetotalamountofitsexternalguaranteesexceeds30%ofthelatestauditedtotalassets;

(3)GuaranteesprovidedbytheCompanytootherswithinoneyearexceeding30%oftheCompany'slatestauditedtotalassets;

(4)Guaranteesprovidedforguaranteeobjectswithadebt-to-assetratioexceeding70%;

(5)Guaranteeswithasingleguaranteeamountexceeding10%ofthelatestauditednetassets;

(6)Guaranteesprovidedtoshareholders,actualcontrollersandtheirrelatedparties.Article1.9TermofOperationTheCompanyisdeemedtobeajointstockCompanywithagoingconcernexceptinthecasesasdescribedinChapter12andChapter13.Article1.10LegalEffectoftheArticlesofAssociationTheArticlesofAssociationaretherulesofhighestauthorityfortheCompany'sorganizationandactivitiesandshallbelegallybindingontheCompany,theCompany'sshareholders,directorsandgeneralmanager.AstheArticlesofAssociationareapubliclegaldocument,anyactsofsubscribingforthesharesoftheCompany(whetherthesharesoftheCompanycanbelegallyandsuccessfullyobtainedornot)shallbeconsideredtohavethelegaleffectthat:thepersonsubscribingfortheCompany'sshareshasvoluntarilyacceptedallthetermsandconditions,andthebindingeffectoftheArticlesofAssociationonhimwithoutreservation.Chapter2Objectives,ScopeofBusinessandMethodofOperationArticle2.1ObjectivesoftheCompany

TheobjectivesoftheCompanyare:tofollowthetrendofthedevelopmentofasocialistmarketeconomy;toimplementscientificmanagement;tofullyutilizetheexistinghumanresources,financialresourcesandmaterialresourcestoenableastableandrapiddevelopmentoftheCompany;topromoteactivelythedevelopmentinrefrigeration,air-conditioningandotherbusinessesoftheCompany;toprotectandincreaseitsassetvalue;tosafeguardthelegalrightsandinterestsofallshareholderstoenablethemtoreceiveasatisfactoryreturnontheirinvestments.Article2.2ScopeofBusinessGeneralprojects:Manufacturingofrefrigerationandairconditioningequipment;Salesofrefrigerationandairconditioningequipment;Manufacturingofgeneralequipment(excludingspecialequipmentmanufacturing);Repairofgeneralequipment;Maintenanceofelectronicandmechanicalequipment(excludingspecialequipment);Leasingofmechanicalequipment;Technicalservices,technologydevelopment,technicalconsultation,technicalexchange,technologytransfer,technologypromotion;Energyconservationmanagementservices;Engineeringmanagementservices;Generalmechanicalequipmentinstallationservices;Metalstructuremanufacturing;Metalstructuresales;Propertymanagement;Low-temperaturestorage(excludingprojectsrequiringlicensingandapprovalsuchashazardouschemicals);Goodsimportandexport;Technologyimportandexport;Specialequipmentsales;petroleumproductsales(excludinghazardouschemicals);lubricantsales;specializedchemicalproductsales(excludinghazardouschemicals);chemicalproductsales(excludinglicensedchemicalproducts)(exceptforprojectsthatmustbeapprovedbylaw,allbusinessactivitiescanbecarriedoutindependentlyinaccordancewiththebusinesslicense)Licensedprojects:Constructionprojectconstruction;Constructionprojectdesign;Specialequipmentinstallation,renovationandrepair;Roadcargotransportation(excludinghazardousgoods);Specialequipmentmanufacturing;Specialequipmentdesign.(Projectsthatrequireapprovalshallbecarriedoutafterobtainingtheapprovalfromrelevantdepartments.Thespecificbusinessprojectsshallbeinaccordancewiththeapproveddocumentsorlicensesissuedbytherelevantdepartments.)Article2.3ModeofOperationThemodesofoperationoftheCompanyincludeprocessing,manufacturing,wholesale,retailimportandexport,investment,sellingagency,buyingagency,leasingandservicing.AsrequiredbythebusinessdevelopmentoftheCompany,withtheapprovaloftherelevantgovernmentdepartments,theCompanymayestablishjointventureswithdomesticandforeigncompanies,orsetupbranches,representativeofficesoragencyorganizationswithinoroutsidethePRC.Article2.4AdjustmentoftheScopeofBusinessandtheModeofoperationAsrequiredbythechangingconditionsofthemarketandthebusinessdevelopmentoftheCompany,theCompanymayadjustitsbusinessscopeandoperationmode.Ifthebusinessscopeandtheoperationmodeisadjusted,theArticlesofAssociationshallbeamendedaccordinglyandtheamendedArticlesofAssociationshallberegisteredwiththecompaniesregistrationauthority.IfthebusinessscopeadjustedfallswithinthecategoryofrestrictedbusinessunderthelawsandregulationsofthePRC,theapprovaloftherelevantgovernmentdepartmentsshallbeobtained.

Chapter3RegisteredCapital,ShareandShareCertificatesArticle3.1RegisteredCapitalTheregisteredcapitaloftheCompanyshallbethetotalpaidupcapitalofRMB843,212,507.Article3.2DivisionofRegisteredCapitalThetotalregisteredcapitaloftheCompanyshallbedividedintoshareswithequalnominalvalue1forwhichsharecertificatesshallbeissued.TheCompanyhasinissue843,212,507sharesintotal,withaparvalueofRMB1.00each.Article3.3TypesandCompositionofRegisteredCapitalThesharesissuedbytheCompanyareallordinaryshares.ThesharesoftheCompanyaredividedintoRenminbiordinarysharesanddomesticallylistedforeigninvestmentshares.AllthesestocksareputontrusttoChinaSecuritiesRegistry&SettlementCo.,Ltd.ShenzhenBranch.Renminbiordinaryshares("AShares")shallbeheldbylegalpersonsorotherorganisationsregisteredinthePRC,naturalpersonsofPRCnationality,orentitiesstipulatedbythelawsofthePRCorapprovedbytherelevantgovernmentauthoritiesofthePRC.ASharescompriseStateshares,legalpersonsharesandpublicindividualshares.Domesticallylistedforeigninvestmentshares("BShares")shallbeheldbynaturalpersons,legalpersons,andotherorganizationsofforeigncountries;legalpersons,naturalpersonsandotherorganizationsofHongKong,MacauandTaiwan;PRCnationalsresidingoverseasoreligibledomesticinvestorsasstipulatedbytheSecuritiesCommitteeoftheStateCouncil.ThestructureoftheissuedsharecapitaloftheCompanyisasfollows:

TypeofsharesNumberofsharesRenminbiordinaryshares601,712,507Domesticallylistedforeigninvestmentshares241,500,000Article3.4ContributionofShareCapitalShareholdersmay,inaccordancewiththeprovisionsoftheArticlesofAssociationandthePRClaws,makecapitalcontributionstotheCompanyinformofcashorbymeansofinjectionoftangibleassetssuchasbuildings,factories,machineryequipmentorintangibleassetssuchasindustrialpropertyrights,non-patentedtechnologiesandlanduserights,inexchangeforthesharesoftheCompany.Agoodlegaltitleheldbytheshareholdersovertheassetstobeinjectedshallbeapre-requisitetotheinjectionofassetsinexchangeforthesharesoftheCompany.InadditionIsuchinjectionofassetsinexchangefortheCompany'ssharesshallcomplywiththeCompanyLawandanyconditionsimposedbytheBoardofDirectorsoftheCompany.Article3.5LimitationsontheHoldingofSharesAnyinvestorwhocomestohold5percentofthesharesissuedbytheCompanydirectlyorindirectlyshall,withinthreedaysfromthedateonwhichsuchshareholdingbecomesafact,submitawrittenreporttoChinaSecuritiesRegulatoryCommitteeandShenzhenStockExchange,notifytheCompanyandmakethefactknowntothegeneralpublic.Onceaninvestorholds5percentofthesharesissuedbytheCompany,heshall,pursuanttotheprovisionsoftheprecedingparagraph,reportandmakeannouncementofeach5percentincreaseordecreaseintheproportionoftheissuedsharesheholdsofthe

Companythroughsecuritiestradingonastockexchange.Duringthereportingperiod,andfortwodaysafterthereportandannouncementaremade,theinvestormaynotcontinuetopurchaseorsellsharesoftheCompany.However,wheretheamountofsharesheldbyaninvestorexceedstheabovementionedlimitationof5percentasaresultofadecreaseinthetotalnumberofsharesoftheCompany,theaboverestrictionswillnotapply.Shareholders,directorsandseniormanagementpersonnelholdingmorethan5%oftheCompany'sshareswhoselltheCompany'sstocksorothersecuritieswithequitynaturetheyholdwithinsixmonthsfromthedateofpurchase,orwhobuythemagainwithinsixmonthsfromthedateofsale,thegainstherefromshallbelongtotheCompany,andtheCompany'sboardofdirectorsshallrecoverthegainstherefrom.However,thisdoesnotapplytosecuritiescompaniesthatholdmorethan5%ofthesharesduetounderwritingtheremainingsharesafterpurchase,aswellasothercircumstancesstipulatedbytheChinaSecuritiesRegulatoryCommission.Thestocksorothersecuritieswithequitynatureheldbydirectors,seniormanagementpersonnelandnaturalpersonshareholdersasmentionedintheprecedingparagraphincludethoseheldbytheirspouses,parentsandchildrenorheldthroughothers'accounts.IftheboardofdirectorsoftheCompanyfailstoactinaccordancewiththeprovisionsofthethirdparagraphofthisarticle,shareholdershavetherighttodemandthattheboardofdirectorsactwithin30days.IftheboardofdirectorsoftheCompanyfailstoexecutewithintheaforesaidperiod,shareholdershavetherighttodirectlyfilealawsuitwiththepeople'scourtintheirownnamesforthebenefitoftheCompany.WheretheboardofdirectorsofaCompanyfailstoactinaccordancewiththeprovisionsofthethirdparagraphofthisArticle,thedirectorswhoareresponsibleshallbearjointandseveralliabilityinaccordancewiththelaw.Article3.6ShareIssueTheCompany'ssharesareintheformofstocks.WhenaCompanyissuesnewshares,allthesubscriptionfeesmustbepaidinfullatonetime.Oncesharesaresubscribed,theycannotbewithdrawn.TheissuanceofCompanysharesshallbecarriedoutinaccordancewiththeprinciplesofopenness,fairnessandimpartiality.Eachshareofthesamecategoryhasthesamerights.Sharesofthesamecategoryissuedatthesametimehavethesameissuanceconditionsandpricespershare.Eachsharesubscribedbythesubscribershallbepaidatthesameprice.Article3.7FormandRegistrationofShareCertificatesTheissuedsharecapitaloftheCompanytakestheformofsharecertificateswhichconstitutethewrittenevidenceoftherespectiveshareholdingsoftheshareholders,andareissuedandsignedbytheCompany.TheCompanyusestheregisterofshareholdersregisteredbythesecuritiesregistrationauthoritiesastheevidenceoftheexistingshareholdings.Registrationrecordsintheregisterofshareholdersshallbeconclusiveevidenceforsuchshareholdings.Article3.8TransferandTradingofSharesThesharesofaCompanyshallbetransferredinaccordancewiththelaw.SharesissuedbytheCompanybeforeitspublicofferingofsharesshallnotbetransferredwithinoneyearfromthedatewhentheCompany'sstocksarelistedandtradedonthe

stockexchange.DirectorsandseniormanagementpersonneloftheCompanyshall,duringtheirtenure,regularlyreporttotheCompanythesharestheyholdintheCompanyandanychangesthereto.Duringthetenuredeterminedatthetimeoftakingoffice,thenumberofsharestheytransfereachyearshallnotexceed25%ofthetotalnumberofsharesofthesamecategorytheyholdintheCompany.ThesharesheldintheCompanyshallnotbetransferredwithinoneyearfromthedatewhentheCompany'sstocksarelistedandtraded.Theabove-mentionedpersonnelshallnottransferthesharestheyholdintheCompanywithinsixmonthsaftertheirresignation.Article3.9Gift,PledgeandSuccessionofSharesTheCompany'sshareholdersmaytransferthesharesoftheCompanyheldbythembywayofgift,pledgeandsuccessioninaccordancewiththelawsandregulations.AnytransferoftheCompany'ssharesbywayofgiftandsuccessionshallberegisteredwiththestatutoryregistrationauthoritiesuponpresentationofvalidandenforceablelegaldocuments.AmortgageovertheCompany'ssharesshallberegisteredwiththeregistrationauthoritiesasrequiredbythelawsandregulations.TheCompanyshallnotacceptanypledgethesubjectofwhicharetheCompany'sshares.Article3.10AmalgamationandDivisionofSharesAsrequiredbytheproduction,operationanddevelopmentoftheCompany,theCompanymay,subjecttotheproposaloftheBoardofDirectorsandtheresolutionspassedatageneralmeeting,amalgamateordividetheCompany'ssharesinaspecifiedratio.Article3.11IncreaseofIssuedShareCapitalAsrequiredbybusinessdevelopmentoftheCompany,theCompanymay,subjecttotheproposaloftheBoardofDirectors,thepassingofaresolutionbyshareholdersatageneralmeetingandtheapprovaloftherelevantgovernmentdepartments,increasetheCompany'sissuedsharecapitalbythefollowingsmeans:

1.Issuesharestounspecifiedobjects;

2.issuingsharesinanon-publicmanner;

3.bonusissuetotheexistingshareholders;or

4.othermethodsasprescribedbylaws,administrativeregulationsandtheChinaSecuritiesRegulatoryCommission.Article3.12OtherClassesofSharesWherenecessary,theCompanymay,subjecttotheproposaloftheBoardofDirectors,thepassingofaresolutionbyshareholdersatageneralmeetingandtheapprovaloftherelevantgovernmentdepartments,issuepreferencesharesorotherclassesofsharesandcorporatebonds(includingbutnotlimitedtoconvertiblebonds).Wherepreferencesharesorotherclassesofsharesandcorporatebondsareissued,inadditiontothecompliancewiththerelevantlawsandregulations,theshareholdersatgeneralmeetingshalllaydownclearregulationstogoverntherightsandobligationsoftheholdersofsuchsecurities,andtheArticlesofAssociationshallalsobeamendedaccordinglysubjecttothepassingofrelevantresolutionsatthegeneralmeeting.Article3.13ReductionofRegisteredCapitalInaccordancewiththelaws,regulationsandtheprovisionsoftheArticlesofAssociation,theCompanymayreduceitsregisteredcapital.IntheeventthattheCompanyreducesitsregisteredcapital,abalancesheetandalistof

propertiesshallbeprepared.TheCompanyshallnotifyitscreditorswithintendaysfromthedateofmakingtheresolutiontoreduceitsregisteredcapitalandmakeanannouncementinthenewspapersasstipulatedinChapter14oftheseArticlesofAssociationorontheNationalEnterpriseCreditInformationPublicitySystemwithinthirtydays.CreditorshavetherighttodemandthattheCompanysettleitsdebtsorprovidecorrespondingdebtrepaymentguaranteeswithin30daysfromthedateofreceivingthenotice,orwithin45daysfromthedateoftheannouncementiftheyhavenotreceivedthenotice.AftertheCompanyhasmadeupforitslossesinaccordancewiththesecondparagraphofArticle10.11oftheseArticlesofAssociation,ifitstillhaslosses,itmayreduceitsregisteredcapitaltomakeupforthelosses.Wheretheregisteredcapitalisreducedtomakeupforlosses,theCompanyshallnotdistributeittotheshareholders,norshallitrelievetheshareholdersoftheirobligationtopaythecapitalcontributionorshareprice.Wheretheregisteredcapitalisreducedinaccordancewiththeprovisionsoftheprecedingparagraph,theprovisionsofthesecondparagraphof3.13oftheseArticlesofAssociationshallnotapply.However,anannouncementshallbemadewithin30daysfromthedatewhentheshareholders'meetingmakesaresolutiontoreducetheregisteredcapitalinthenewspapersasprescribedinChapter14oftheseArticlesofAssociationortheNationalEnterpriseCreditInformationPublicitySystem.AfteraCompanyreducesitsregisteredcapitalinaccordancewiththeprovisionsoftheprecedingtwoparagraphs,itshallnotdistributeprofitsuntiltheaccumulatedamountofthestatutoryreservefundandthediscretionaryreservefundreaches50%oftheCompany'sregisteredcapital.WheretheregisteredcapitalisreducedinviolationoftheCompanyLawandotherrelevantregulations,theshareholdersshallreturnthefundstheyhavereceived.Wheretheshareholders'capitalcontributionsarereducedorexempted,theoriginalstateshallberestored.WherelossesarecausedtotheCompany,shareholdersanddirectorsandseniormanagementpersonnelwhoareresponsibleshallbeartheliabilityforcompensation.TheCompany'sregisteredcapitalafterreductionshallnotbelessthanthestatutoryminimumamount.Article3.14IncreasetheregisteredcapitalWhenaCompanyissuesnewsharestoincreaseitsregisteredcapital,shareholdersdonothavetherightoffirstrefusaltosubscribe,exceptasotherwiseprovidedinthesearticlesofassociationorasdeterminedbytheshareholders'meetingresolutionthatshareholdershavetherightoffirstrefusaltosubscribe.Article3.15Re-purchaseofSharesInthefollowingcircumstances,theCompanymayre-purchaseitsissuedsharesinaccordancewiththeproceduresprescribedintheArticlesofAssociationorlaiddownbythestockexchangewherethesharesarelistedandwiththeapprovaloftherelevantgovernmentdepartments:

1.CancellationofsharesforthereductionoftheCompany'sregisteredcapital;

2.MergerwithothercompaniesholdingtheCompany'sshares;

3.Applyingsharestoemployeestockownershipplanorequityincentive;

4.Thereisanyshareholderwhohasobjectionsonthegeneralmeeting’sdecisionformergenceorsplitoftheCompanyandrequeststheCompanytorepurchasehis/hershares;

5.Applyingsharestoconvertcorporatebondsconvertibletostocksissuedbylistedcompanies;or

6.TheCompaniesmaintainsCompanyvalueandshareholders'rightsandinterests.Thecircumstancesreferredtoinitem6oftheprecedingparagraphshallmeetoneofthefollowingconditions:

(1)TheclosingpriceoftheCompany'sstockislowerthanthenetassetvaluepershareinthemostrecentperiod;

(2)Acumulativedeclineof20%intheclosingpriceoftheCompany'sstockfor20consecutivetradingdays;

(3)TheclosingpriceoftheCompany'sstockislessthan50percentofthehighestclosingpriceofthestockinthemostrecentyear;

(4)OtherconditionsstipulatedbytheCSRC.Exceptintheabovecircumstances,theCompanydoesnotengageintradinginitsstocks.TheCompanymayrepurchasesharesinoneofthefollowingways:

1.Thewayofcentralizedbiddinginstockexchanges;

2.Themodeofoffer;

3.OtherwaysapprovedbyCSRC.WheretheCompanypurchasesitssharesunderthecircumstancesspecifiedinitems(3),

(5)and(6)ofparagraph1ofthisarticle,itshalladoptpubliccentralizedtradingmethods.IftheCompanytouchestheconditionsspecifiedinparagraph2ofthisArticle,theboardofdirectorsshallpromptlyunderstandwhethertherearemajoreventsandotherfactorsthatmayhaveagreaterimpactonthestockprice,taketheinitiativetocommunicateandexchangewithshareholders,especiallyminorityshareholders,throughvariouschannels,andfullylistentotheopinionsanddemandsofshareholdersonwhethertheCompanyshouldimplementsharerepurchase.Art.3.16DisposaloftheRepurchasedSharesWheretheCompanypurchasesitssharesunderthecircumstancesofitems(1)and(2)ofarticle3.15oftheArticlesofAssociation,itshallbedecidedbytheBoardofdirectorsinaccordancewithlawandsubmittedtothegeneralmeetingofshareholdersfordeliberationandapprovalbymorethantwo-thirdsofthevotingrightsheldbytheshareholderspresentatthemeeting.WheretheCompanypurchasesitssharesunderthecircumstancesspecifiedinitems(3),

(5)and(6)ofarticle3.15oftheArticlesofAssociation,thedecisionoftheboardmeetingattendedbymorethantwo-thirdsofthedirectorsshallbeadopted.WheretheCompanypurchasesitssharesinaccordancewitharticle3.15oftheArticlesofAssociation,ifitbelongstothecaseofitem(1),itshallcancelthemwithin10daysfromthedateofacquisition;ifitbelongstoitems(2)and(4),itshalltransferorcancelthemwithin6months;ifitbelongstoitems(3),(5)and(6),thetotalnumberofsharesheldbytheCompanyshallnotexceedthenumberof10%ofthetotalsharestheCompanyhasissued,andshalltransferorcancelthemwithinthreeyearsafterdisclosingtheresultsofrepurchaseandtheannouncementofchangesinshares.

AftertheacquisitionoftheCompany'sshares,theCompanyshallfulfillitsobligationofinformationdisclosureinaccordancewiththeprovisionsoftheSecuritiesLaw.TheparvalueofthecancelledsharesshallbereducedfromtheregisteredcapitaloftheCompany.Article3.17FinancialAssistanceACompanyoritssubsidiaries(includingaffiliatedenterprises)shallnotprovidefinancialassistancetoothersinobtainingsharesoftheCompanyoritsparentCompanyintheformofgifts,advances,guarantees,loans,etc.,exceptwheretheCompanyimplementsanemployeestockownershipplan.ForthebenefitoftheCompany,upontheresolutionoftheshareholders'meetingortheresolutionmadebytheboardofdirectorsinaccordancewiththesearticlesofassociationortheauthorizationoftheshareholders'meeting,theCompanymayprovidefinancialassistanceforotherstoacquirethesharesoftheCompanyoritsparentCompany,butthecumulativetotalamountoffinancialassistanceshallnotexceed10%ofthetotalissuedsharecapital.Theresolutionoftheboardofdirectorsshallbepassedbymorethantwo-thirdsofallthedirectors.Article3.18RegistrationofChangesWhentheincreaseorreductionoftheCompany'sregisteredcapitalissubjecttoapproval.suchapprovalshallbesoughtfromtheapprovingauthoritiesandtheincreaseorreductionmustberegisteredwiththecompaniesregistrationauthorities.Chapter4ShareholdersArticle4.1ShareholdersTheCompanyestablishesaregisterofshareholdersbasedonthecertificatesprovidedbythesecuritiesregistrationandsettlementinstitution.TheregisterofshareholdersissufficientevidencetoprovethatshareholdersholdsharesintheCompany.Shareholdersenjoyrightsandundertakeobligationsinaccordancewiththecategoryofsharestheyhold.Shareholdersholdingsharesofthesamecategoryenjoythesamerightsandbearthesameobligations.Article4.2Shareholders'rightsTheshareholdersoftheCompany'sordinarysharesshallbeentitledtothefollowingrights:

1.toreceivedividendsandbenefitsinotherformsontheirshares;

2.torequest,convene,presideorattendthegeneralmeetingsoftheCompanyinpersonorbyproxyandexercisetherightstovote;

3.toconductsupervision,givesuggestionsandmakequeriesinrespectoftheoperationandfinancialmanagementoftheCompany;

4.totransferthesharesheldbythembywayoftransfer,giftormortgageinaccordancewiththerelevantlawsandregulationsandtheArticlesofAssociation;

5.ReviewandcopytheCompany'sarticlesofassociation,registerofshareholders,minutesofshareholders'meetings,resolutionsoftheboardofdirectors,andfinancialaccountingreports;ShareholderswhomeettheregulationsmayreviewtheCompany'saccountingbooksandaccountingvouchers;

6.tobeentitledtothenetassetsoftheCompanyinproportiontotheirshareholdingsintheeventthattheCompanybecomesinsolventandiswoundup;

7.torequiretheCompanytoacquiretheirsharesforthoseshareholderswhoobjectto

resolutiononthemergerandseparationoftheCompanymadebytheshareholders’generalmeeting;

8.toenjoyotherrightsasstipulatedbytherelevantlawsandregulationsandtheArticlesofAssociation.ShareholderswhorequesttoreviewandcopyrelevantmaterialsoftheCompanyshallabidebytheprovisionsoflawsandadministrativeregulationssuchastheCompanyLawandtheSecuritiesLaw.Shareholderswhohaveheld3%ormoreoftheCompany'sshareseitherindividuallyorcollectivelyformorethan180consecutivedaysmayrequesttoreviewtheCompany'saccountingbooksandaccountingvouchers,buttheyshallsubmitawrittenrequesttothecompany,statingthepurpose.IftheCompanyhasreasonablegroundstobelievethatshareholders'reviewofaccountingbooksandaccountingvouchershasimproperpurposesandmayharmtheCompany'slegitimateinterests,itmayrefusetoprovidethereviewandshallreplyinwritingtotheshareholderswithin15daysfromthedateoftheirwrittenrequest,explainingthereasons.Whereashareholderrequeststoreviewandcopyrelevantmaterialsofawholly-ownedsubsidiaryoftheCompany,theprovisionsofItem5ofthefirstparagraphandParagraphs2and3ofthisArticleshallapply.Iftheresolutionsoftheshareholders'meetingortheboardofdirectorsofaCompanyviolatelawsoradministrativeregulations,shareholdershavetherighttorequestthepeople'scourttodeterminetheminvalid.Iftheconveningproceduresorvotingmethodsoftheshareholders'meetingortheboardofdirectorsviolatelaws,administrativeregulationsorthesearticlesofassociation,orifthecontentoftheresolutionviolatesthesearticlesofassociation,shareholdershavetherighttorequestthepeople'scourttorevokeitwithin60daysfromthedateoftheresolution.However,thisdoesnotapplyiftheconveningproceduresorvotingmethodsofshareholders'meetingsorboardmeetingshaveonlyminorflawsthatdonothaveasubstantiveimpactontheresolution.Wheretheboardofdirectors,shareholdersandotherrelevantpartieshavedisputesoverthevalidityoftheresolutionoftheshareholders'meeting,theyshallpromptlyfilealawsuitwiththepeople'scourt.Beforethepeople'scourtmakesajudgmentorrulingsuchasaresolutiontorevoke,therelevantpartiesshallimplementtheresolutionoftheshareholders'meeting.TheCompany,itsdirectorsandseniormanagementpersonnelshallearnestlyperformtheirdutiestoensurethenormaloperationoftheCompany.Wherethepeople'scourtmakesajudgmentorrulingonrelevantmatters,theCompanyshallfulfilltheobligationofinformationdisclosureinaccordancewithlaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthestockexchange,fullyexplaintheimpact,andactivelycooperatewiththeenforcementafterthejudgmentorrulingtakeseffect.Wherecorrectionstopreviousmattersareinvolved,theywillbehandledpromptlyandthecorrespondinginformationdisclosureobligationswillbefulfilled.

Whereanyofthefollowingcircumstancesoccurs,theresolutionoftheshareholders'meetingortheboardofdirectorsoftheCompanyshallnotbeestablished:

(1)Noshareholders'meetingorboardmeetingwasheldtomakearesolution;

(2)Theshareholders'meetingandtheboardofdirectorsdidnotvoteontheresolutionmatters.

(3)ThenumberofattendeesatthemeetingorthenumberofvotingrightshelddoesnotreachthenumberofattendeesorthenumberofvotingrightsheldasstipulatedintheCompanyLaworthesearticlesofassociation;

(4)ThenumberofpeoplewhoagreetotheresolutionmattersorthenumberofvotingrightstheyholddoesnotreachthenumberofpeopleorthenumberofvotingrightsstipulatedintheCompanyLaworthesearticlesofassociation.WheretheAuditCommitteeortheboardofdirectorsrefusestofilealawsuitafterreceivingawrittenrequestfromashareholderasprescribedintheprecedingparagraph,orfailstofilealawsuitwithin30daysfromthedateofreceivingtherequest,orwherethesituationisurgentandfailuretofilealawsuitimmediatelywillcauseirreparabledamagetotheCompany'sinterests,theshareholderasprescribedintheprecedingparagraphhastherighttofilealawsuitdirectlywiththepeople'scourtinhisorherownnameforthebenefitoftheCompany.WheredirectorsorseniormanagementpersonnelotherthanmembersoftheAuditcommitteeviolatelaws,administrativeregulationsortheprovisionsofthesearticlesofassociationinthecourseofperformingtheirdutiesfortheCompanyandcauselossestotheCompany,shareholderswhohaveheld1%ormoreoftheCompany'ssharesforacontinuousperiodof180daysormorehavetherighttorequesttheAuditcommitteeinwritingtofilealawsuitwiththepeople'scourt.IfmembersoftheAuditcommitteeviolatelaws,administrativeregulationsortheprovisionsofthesearticlesofassociationinthecourseofperformingtheirdutiesfortheCompany,causinglossestotheCompany,theaforementionedshareholdersmayrequesttheboardofdirectorsinwritingtofilealawsuitwiththepeople'scourt.WheretheAuditCommitteeortheboardofdirectorsrefusestofilealawsuitafterreceivingawrittenrequestfromashareholderasprescribedintheprecedingparagraph,orfailstofilealawsuitwithin30daysfromthedateofreceivingtherequest,orwherethesituationisurgentandfailuretofilealawsuitimmediatelywillcauseirreparabledamagetotheCompany'sinterests,theshareholderasprescribedintheprecedingparagraphhastherighttofilealawsuitdirectlywiththepeople'scourtinhisorherownnameforthebenefitoftheCompany.WhereothersinfringeuponthelegitimaterightsandinterestsoftheCompanyandcauselossestoit,shareholderswhohaveheld1%ormoreoftheCompany'ssharesforacontinuousperiodof180daysormoremayfilealawsuitwiththepeople'scourtinaccordancewiththeprovisionsoftheprecedingtwoparagraphs.Ifthedirectors,supervisorsorseniormanagementpersonneloftheCompany's

wholly-ownedsubsidiaryviolatelaws,administrativeregulationsortheprovisionsofthesearticlesofassociationinthecourseofperformingtheirdutiesfortheCompany,causinglossestotheCompany,orifothersinfringeuponthelegitimaterightsandinterestsoftheCompany'swholly-ownedsubsidiaryandcauselosses,orifshareholdershaveheld1%ormoreoftheCompany'ssharesaloneorcollectivelyformorethan180consecutivedays,Onemay,inaccordancewiththefirstthreeparagraphsofArticle189oftheCompanyLaw,requestinwritingthesupervisoryboardortheboardofdirectorsofawholly-ownedsubsidiarytofilealawsuitwiththepeople'scourt,ordirectlyfilealawsuitwiththepeople'scourtinone'sownname.Article4.3Shareholders'ObligationsShareholdersholdingordinarysharesshallperformthefollowingobligations:

1.Complywiththeprovisionsoflaws,administrativeregulationsandthischarter;

2.Paythesharecapitalinaccordancewiththesharessubscribedandthemethodofcontribution;

3.Exceptforthecircumstancesstipulatedbylawsandregulations,itssharecapitalshallnotbewithdrawn.

4.ShareholdersshallnotabusetheirrightstoharmtheinterestsoftheCompanyorothershareholders.TheindependentlegalstatusoftheCompanyandthelimitedliabilityofshareholdersshallnotbeabusedtoharmtheinterestsoftheCompany'screditors.

5.Otherobligationsthatshouldbeundertakenasstipulatedbylaws,administrativeregulationsandthesearticlesofassociation.WhereashareholderofaCompanyabuseshisshareholderrightsandcauseslossestotheCompanyorothershareholders,heshallbeartheliabilityforcompensationinaccordancewiththelaw.WhereshareholdersofaCompanyabusetheindependentlegalstatusoftheCompanyandthelimitedliabilityofshareholderstoevadedebtsandseriouslydamagetheinterestsoftheCompany'screditors,theyshallbearjointandseveralliabilityfortheCompany'sdebts.Article4.4BehaviorofcontrollingshareholdersandActualcontrollerThecontrollingshareholdersandactualcontrollersofaCompanyshallexercisetheirrightsandfulfilltheirobligationsinaccordancewithlaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthestockexchange,andsafeguardtheinterestsofthelistedCompany.ThecontrollingshareholdersandactualcontrollersofaCompanyshallabidebythefollowingprovisions:

Exerciseshareholderrightsinaccordancewiththelaw,anddonotabusecontrolrightsoruserelated-partyrelationshipstodamagethelegitimaterightsandinterestsoftheCompanyorothershareholders.

2.Strictlyfulfillthepublicstatementsandallcommitmentsmade,anddonotchangeorexemptthemwithoutauthorization.

3.Strictlyfulfilltheobligationofinformationdisclosureinaccordancewithrelevantregulations,activelyandproactivelycooperatewiththeCompanytodoagoodjobininformationdisclosure,andpromptlyinformtheCompanyofmajoreventsthathaveoccurredorareabouttooccur.

4.NoCompanyfundsshallbeoccupiedinanyway.

5.Itisprohibitedtoforce,instructorrequiretheCompanyandrelevantpersonneltoprovideguaranteesinviolationoflawsandregulations.

6.ItisprohibitedtoseekpersonalgainbytakingadvantageoftheCompany'snon-publicmaterialinformation,todiscloseanynon-publicmaterialinformationrelatedtotheCompanyinanyway,andtoengageininsidertrading,short-termtrading,ormanipulationbeforeandaftertherevisionIllegalandirregularbehaviorssuchasmarketmanipulation;

7.NolegitimaterightsandinterestsoftheCompanyandothershareholdersshallbeinfringeduponthroughanymeanssuchasnon-fairrelated-partytransactions,profitdistribution,assetreorganization,orexternalinvestment.

8.EnsuretheintegrityoftheCompany'sassets,theindependenceofpersonnel,finance,institutionsandbusiness,anddonotaffecttheCompany'sindependenceinanyway.

9.Otherprovisionsoflaws,administrativeregulations,regulationsoftheChinaSecuritiesRegulatoryCommission,businessrulesofthestockexchangeandthesearticlesofassociation.WherethecontrollingshareholderoractualcontrollerofaCompanyinstructsadirectororseniormanagementpersonneltoengageinactsthatharmtheinterestsoftheCompanyoritsshareholders,heorsheshallbearjointandseveralliabilitywithsuchdirectororseniormanagementpersonnel.WhereacontrollingshareholderoractualcontrollerpledgestheCompany'sstocksheorsheholdsoractuallycontrols,heorsheshallmaintainthecontroloftheCompanyandthestabilityofitsproductionandoperation.WherethecontrollingshareholderoractualcontrollertransfersthesharestheyholdintheCompany,theyshallabidebytherestrictiveprovisionsonsharetransferasstipulatedinlaws,administrativeregulations,theChinaSecuritiesRegulatoryCommissionandthestockexchange,aswellasthecommitmentstheyhavemaderegardingtherestrictionofsharetransfer.Article4.5TheCompositionoftheRegisterofShareholdersTheCompanyshallkeepacompleteregisterofitsshareholders.Theregisterofshareholdersshallberegisteredbythesecuritiesregistrationauthorities.Article4.6RegistrationDayofShareholdingWheretheCompanyconvenesageneralmeeting)distributesdividends)goesintoliquidationorengagesinotheractswhichrequireconfirmationofshareholderstatus,theBoardofDirectorsshallfixadayasareferencedateforregistrationofshareholdingsforconfirmationpurposes.Atthecloseofsuchregistrationday)shareholderswhosenamesappearontheregisterofshareholdersshallbedeemedtobetheshareholdersoftheCompany.Theintervalbetweenthedateofequityregistrationandthedateofmeetingshallbenotmorethan7workingdays.Oncethedateofequityregistrationisconfirmed,itshallnotbealtered.Chapter5GeneralMeetingArticle5.1GeneralMeetingAlltheshareholdersoftheCompanywhoareentitledtoexercisetheirrightsandpowersoftheCompanyingeneralmeetingshavethehighestauthorityaccordingtotheCompanyLawandtheArticlesofAssociation.Article5.2AnnualGeneralMeetingandExtraordinaryGeneralMeetingAgeneralmeetingshallbeeitheranannualgeneralmeetingoranextraordinarygeneral

meeting.Thegeneralmeetingshallbeheldatadesignatedplaceinamannerofon-sitemeeting.TheCompanywillalsoprovideshareholderswiththenetworkfacilities.Anyshareholder,whoattendsthegeneralmeetinginoneoftheabovemanners,shallberegardedashis/herpresence.Thegeneralmeetingonsiteshallnotendupuntilthemeetinginthenetworkmannerendsup.ThegeneralmeetingshallbeheldatthelocationoftheCompanyorotherlocationsspecifiedinthemeetingnotice.Article5.3AnnualGeneralMeetingTheannualshareholders'meetingshallbeheldonceayearandshallbeheldwithinsixmonthsaftertheendofthepreviousfiscalyear.Attheannualshareholders'meeting,theboardofdirectorsshallreporttotheshareholders'meetingonitsworkinthepastyear.Eachindependentdirectorshouldalsomakeareportontheirduties.Article5.4ExtraordinaryGeneralMeetingAnextraordinarygeneralmeetingshallbeconvenedwithin2monthsoftheoccurrenceofanyofthefollowingevents:

1.WhenthenumberofdirectorsislessthanthenumberstipulatedintheCompanyLaworlessthantwo-thirdsofthenumberstipulatedintheCompany'sarticlesofassociation(9persons);

2.WhentheCompany'sunremediedlossesreachone-thirdofitstotalsharecapital;

3.Whenshareholderswhohold10%ormoreoftheCompany'sshareseitherindividuallyorcollectively(includingpreferredshareswithrestoredvotingrights,etc.)request;

4.Whentheboardofdirectorsdeemsitnecessary;

5.WhentheAuditCommitteeproposestoconvene;

6.Othercircumstancesasprescribedbylaws,administrativeregulations,departmentalrulesorthesearticlesofassociation.Shareholderswhohold10%ormoreoftheCompany'sshareseitherindividuallyorcollectively(includingpreferredshareswithrestoredvotingrights,etc.)andrequesttheboardofdirectorstoconveneatemporaryshareholders'meetingshallsubmitawrittenapplicationtotheboardofdirectors.Theboardofdirectorsshall,inaccordancewiththeprovisionsoflaws,administrativeregulationsandthesearticlesofassociation,provideawrittenfeedbackwithintendaysafterreceivingtherequest,indicatingwhetheritagreesordisagreestoconveneatemporaryshareholders'meeting.Iftheboardofdirectorsagreestoconveneatemporaryshareholders'meeting,itshallissueanoticeoftheshareholders'meetingwithinfivedaysaftermakingtheresolutionoftheboardofdirectors.Anychangestotheoriginalrequestinthenoticeshallbesubjecttotheconsentoftherelevantshareholders.Iftheboardofdirectorsdoesnotagreetoconveneatemporaryshareholders'meetingorfailstorespondwithintendaysafterreceivingtherequest,shareholderswhohold10%ormoreoftheCompany'sshares(includingpreferredshareswithrestoredvotingrights,etc.)eitherindividuallyorcollectively,andproposetotheAuditcommitteetoconveneatemporaryshareholders'meeting,shallsubmitawrittenrequesttotheAuditcommittee.IftheAuditcommitteeagreestoconveneatemporaryshareholders'meeting,itshallissueanoticeofconveningtheshareholders'meetingwithinfivedaysafterreceivingtherequest.Anychangestotheoriginalrequestinthenoticeshallbesubjecttotheconsent

oftherelevantshareholders.IftheAuditcommitteefailstoissueanoticeoftheshareholders'meetingwithintheprescribedperiod,itshallbedeemedthattheAuditcommitteedoesnotconveneandpresideovertheshareholders'meeting.Shareholderswhohaveheld10%ormoreoftheCompany'sshares(includingpreferredshareswithrestoredvotingrights,etc.)individuallyorcollectivelyformorethan90consecutivedaysmayconveneandpresideoverthemeetingontheirown.Withtheconsentofmorethanhalfofallindependentdirectors,independentdirectorshavetherighttoproposetotheboardofdirectorstoconveneatemporaryshareholders'meeting.Inresponsetotheproposalofanindependentdirectortoconveneanextraordinaryshareholders'meeting,theboardofdirectorsshall,inaccordancewiththeprovisionsoflaws,administrativeregulationsandthesearticlesofassociation,provideawrittenfeedbackwithintendaysafterreceivingtheproposal,indicatingwhetheritagreesordisagreestoconveneanextraordinaryshareholders'meeting.Iftheboardofdirectorsagreestoconveneatemporaryshareholders'meeting,itshallissueanoticeofconveningtheshareholders'meetingwithinfivedaysaftermakingtheresolutionoftheboardofdirectors.Iftheboardofdirectorsdoesnotagreetoconveneatemporaryshareholders'meeting,itshallexplainthereasonsandmakeanannouncement.WhentheAuditCommitteeproposestotheboardofdirectorstoconveneatemporaryshareholders'meeting,itshallsubmittheproposalinwritingtotheboardofdirectors.Theboardofdirectorsshall,inaccordancewiththeprovisionsoflaws,administrativeregulationsandthesearticlesofassociation,provideawrittenfeedbackwithintendaysafterreceivingtheproposal,indicatingwhetheritagreesordisagreestoconveneatemporaryshareholders'meeting.Iftheboardofdirectorsagreestoconveneanextraordinaryshareholders'meeting,itshallissueanoticeoftheshareholders'meetingwithinfivedaysaftermakingtheresolutionoftheboardofdirectors.AnychangestotheoriginalproposalinthenoticeshallbesubjecttotheconsentoftheAuditCommittee.Iftheboardofdirectorsdoesnotagreetoconveneatemporaryshareholders'meetingorfailstoprovidefeedbackwithintendaysafterreceivingtheproposal,itshallbedeemedthattheboardofdirectorsisunableordoesnotperformitsdutytoconvenetheshareholders'meeting.TheAuditcommitteemayconveneandpresideoverthemeetingonitsown.Iftheauditcommitteeorshareholdersdecidetoconveneashareholders'meetingontheirown,theymustnotifytheboardofdirectorsinwritingandfilewiththestockexchangeatthesametime.Theauditcommitteeortheconveningshareholdersshallsubmitrelevantsupportingmaterialstothestockexchangewhenissuingthenoticeoftheshareholders'meetingandannouncingtheresolutionoftheshareholders'meeting.Beforetheannouncementoftheshareholders'meetingresolution,theproportionofsharesheldbytheconveningshareholders(includingpreferredstockswithrestoredvotingrights,etc.)shallnotbelessthantenpercent.

Forshareholders'meetingsconvenedbytheauditcommitteeorbyshareholdersthemselves,theboardofdirectorsandthesecretaryoftheboardofdirectorswillcooperate.Theboardofdirectorswillprovidetheregisterofshareholdersasoftherecorddateforequity.Theexpensesnecessaryfortheshareholders'meetingconvenedbytheauditcommitteeortheshareholdersthemselvesshallbebornebytheCompany.Article5.5FunctionsandPowersofShareholdersinGeneralMeetingShareholdersingeneralmeetingshallhavethefollowingfunctionsandpowers:

1.Electandreplacedirectors,anddeterminemattersrelatedtotheremunerationofdirectors;

2.Reviewandapprovethereportoftheboardofdirectors;

3.ReviewandapprovetheCompany'sprofitdistributionplanandlosscompensationplan;

4.MakeresolutionsonincreasingordecreasingtheregisteredcapitaloftheCompany;

5.Makeresolutionsontheissuanceofcorporatebonds;

6.Makeresolutionsonthemerger,division,dissolution,liquidationorchangeoftheCompany'sform;

7.Amendthischarter;

8.MakeresolutionsontheemploymentanddismissalofaccountingfirmsundertakingtheCompany'sauditingbusinessbytheCompany;

9.ReviewandapprovetheguaranteemattersstipulatedinArticle1.8ofthesearticlesofAssociation;

10.ReviewmatterswheretheCompany'spurchaseorsaleofmajorassetswithinoneyearexceeds30%oftheCompany'slatestauditedtotalassets;

11.Reviewandapprovemattersconcerningthechangeoftheuseofraisedfunds;

12.Reviewtheequityincentiveplanandtheemployeestockownershipplan;

13.Reviewothermattersthatshouldbedecidedbytheshareholders'meetingasstipulatedbylaws,administrativeregulations,departmentalrulesorthesearticlesofassociation.Theshareholders'meetingmayauthorizetheboardofdirectorstomakeresolutionsontheissuanceofcorporatebonds.Exceptasotherwiseprovidedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionortherulesofthestockexchange,thepowersoftheabove-mentionedshareholders'meetingshallnotbeexercisedbytheboardofdirectorsorotherinstitutionsorindividualsthroughauthorization.Article5.6ProposalsandnoticesoftheGeneralMeetingForconveningageneralmeetingofshareholders,theconvenershallinformallshareholders20daysinadvanceofthedatewhenthemeetingisheld.Forconveninganextraordinarygeneralmeeting,theconvenershallinformallshareholders15daysinadvanceofthedatewhenthemeetingisheld.Theconvenershallensurethatthemeetingofthegeneralmeetingofshareholdersgoinsuccessionuntilthefinalresolutionismade.Wherethegeneralmeetingofshareholdersispausedornoresolutioncanbemadeduetoforcemajeureoranyotherspecialcause,necessarymeasuresshallbetakentoresumethemeetingofthegeneralmeetingof

shareholdersorthemeetingshallbedirectlyterminated,andanannouncementshallbemadeinatimelymanner.Atthesametime,theconvenershallreportittothedispatchedofficeoftheCSRCatthelocalityoftheCompanyandthestockexchange.ThenoticeofthegeneralmeetingshallcomplywiththefollowingrequirementsandshallbepublishedbywayofanannouncementinthenewspapersasselectedbytheBoardofDirectorsinaccordancewiththelawsandregulationsandtheArticlesofAssociation:

1.Thetime,placeanddurationofthemeeting;

2.Mattersandproposalssubmittedfordeliberationatthemeeting;

3.Clearlystateinwriting:Allcommonshareholders(includingpreferredshareholderswhosevotingrightshavebeenrestored),shareholdersholdingspecialvotingrightsshares,andothershareholdersareentitledtoattendtheshareholders'meetingandmayentrustagentsinwritingtoattendthemeetingandvote.SuchshareholderagentsdonothavetobeshareholdersoftheCompany.

4.Therecorddateofequityforshareholdersentitledtoattendtheshareholders'meeting;

5.Thenameandphonenumberofthepermanentcontactpersonfortheconferenceaffairs;

6.VotingtimeandproceduresthroughtheInternetorothermeans.Thestartingtimeofthenetworkvotingofshareholders'generalmeetingshouldnotearlierthan3:00pmduringthedaybeforetheshareholders'generalmeetingheld,andnotlaterthan9:30amduringthedaytheshareholders'generalmeetingheld.Theendtimeofthenetworkvotingshouldnotearlierthan3:00pmduringthedaytheshareholders'generalmeetingfinished.Upontheannouncementofthenoticeofthegeneralmeeting,allshareholdersshallbedeemedtohavereceivednoticeofthegeneralmeeting.Afterthenoticeofageneralmeetingisgiven,thegeneralmeetingshallnotbeadjournedorcancelledwithoutgoodreason,andtheproposalssetoutinthenoticeofageneralmeetingshallnotbecancelled.Incaseofdelayorcancellation,theconvenershallmakeanannouncementandexplainthereasonsatleasttwoworkingdaysbeforetheoriginaldate.ExceptasprovidedinArticle5.18oftheseArticles,theconvenershallnotamendoraddnewproposalsassetoutintheNoticeofgeneralmeetingafterthenoticeofnoticeofgeneralmeetinghasbeenissued.Article5.7PresidingoftheGeneralMeetingTheshareholders'meetingconvenedbytheAuditcommitteeonitsownshallbepresidedoverbytheconveneroftheauditcommittee.WhentheconveneroftheAuditcommitteeisunabletoperformhisdutiesorfailstoperformhisduties,amemberoftheAuditCommitteejointlyelectedbymorethanhalfofthemembersoftheAuditCommitteeshallpresideoverthemeeting.Ashareholders'meetingconvenedbyshareholdersthemselvesshallbepresidedoverbytheconvenerortherepresentativeelectedbytheconvener.Article5.8AttendenceNoticeTheshareholderswhointendtoattendthegeneralmeetingshallnotifytheCompanyoftheirattendancesbeforetheconveningofthegeneralmeeting.Theattendancenoticeshallspecifythenumberofshareswiththevotingrightsheldbythemandshallbedeliveredinwrittenform.

Article5.9AttendenceandProxyWheretheshareholders'meetingrequiresdirectorsandseniormanagementpersonneltoattendthemeetingasnon-votingparticipants,suchdirectorsandseniormanagementpersonnelshallattendasnon-votingparticipantsandacceptinquiriesfromshareholders.Allcommonshareholders(includingpreferredshareholderswithrestoredvotingrights),shareholdersholdingspecialvotingrightssharesandothershareholdersortheiragentswhoareregisteredontherecorddateofequityareentitledtoattendtheshareholders'meetingandexercisetheirvotingrightsinaccordancewithrelevantlaws,regulationsandthesearticlesofassociation.Shareholdersmayattendtheshareholders'meetinginpersonorentrustanagenttoattendandvoteontheirbehalf.IndividualshareholderswhoattendthemeetinginpersonshallpresenttheirIDcardsorothervaliddocumentsorcertificatesthatcanidentifytheiridentities.Thosewhoattendthemeetingonbehalfofothersshallpresenttheirvalididentificationdocumentsandthepowerofattorneyfromshareholders.Corporateshareholdersshallberepresentedatthemeetingbytheirlegalrepresentativesoragentsentrustedbythelegalrepresentatives.Ifthelegalrepresentativeattendsthemeeting,he/sheshallpresenthis/herIDcardandvalidproofthatcanprovehis/herqualificationasthelegalrepresentative.Ifanagentattendsthemeeting,theagentshallpresenthis/herownIDcardandawrittenpowerofattorneyissuedbythelegalrepresentativeofthelegalpersonshareholderunitinaccordancewiththelaw.TheboardofdirectorsofaCompany,independentdirectors,shareholderswithmorethan1%ofthevotingshares,orinvestorprotectioninstitutionsestablishedinaccordancewithlaws,administrativeregulationsortheprovisionsoftheChinaSecuritiesRegulatoryCommissionmaypubliclysolicitshareholders'votingrights.Thecollectionofvotingrightsshouldbeconductedfreeofcharge,andspecificvotingintentionsandotherinformationshouldbefullydisclosedtothepersonbeingsolicited.Exceptforthelegalconditions,aCompanyshallnotimposeaminimumshareholdingratiolimitonthesolicitationofvotingrights.Article5.10LetterofAppointmentofProxyThepowerofattorneyissuedbyashareholdertoentrustanotherpersontoattendtheshareholders'meetingshallsetforththefollowingcontents:

1.Thenameortitleoftheprincipal,thetypeandquantityofsharesheldintheCompany;

2.Thenameortitleoftheagent;

3.Specificinstructionsfromshareholders,includinginstructionstovoteinfavorof,againstorabstainfromeachmatterontheagendaoftheshareholders'meeting,etc.

4.Dateofissuanceandvalidityperiodofthepowerofattorney;

5.Signature(orseal)oftheprincipal.Wheretheprincipalisalegalpersonshareholder,thesealofthelegalpersonentityshallbeaffixed.Whereaproxyvotingpowerofattorneyisauthorizedbytheprincipaltobesignedbyanotherperson,thepowerofattorneyorotherauthorizationdocumentauthorizedforsigningshallbenotarized.Thenotarizedpowerofattorneyorotherauthorizationdocuments,aswellastheproxypowerofattorneyforvoting,mustbekeptatthe

Company'sdomicileoratotherplacesspecifiedinthenoticeofconveningthemeeting.Article5.11RegisteroftheAttendantsTheshareholders'meetingshallpreparearegisteroftheattendees.Theregisterofthemeetingshallcontainthenames(ornamesofentities),IDnumbers,thenumberofvotingsharesheldorrepresentedbytheparticipants,andthenames(ornamesofentities)oftheprincipal,amongothermatters.TheconvenerandthelawyerhiredbytheCompanywilljointlyverifythelegalityoftheshareholders'qualificationsbasedontheshareholderregisterprovidedbythesecuritiesregistrationandsettlementinstitution,andregisterthenames(ortitles)oftheshareholdersandthenumberofsharestheyholdwithvotingrights.Theregistrationofthemeetingshallbeterminatedbeforethechairpersonofthemeetingannouncesthenumberofshareholdersandtheiragentspresentatthemeetingandthetotalnumberofsharestheyholdwithvotingrights.Article5.12MethodofVotingWhenvotingattheshareholders'meeting,shareholders(includingshareholderproxies)exercisetheirvotingrightsbasedonthenumberofvotingsharestheyrepresent.ExceptfortheprovisionsofArticle5.13ofthesearticlesofAssociationregardingthecumulativevotingsystemfortheelectionofdirectors,eachcommonsharehasonevote,exceptforshareholdersofclassshares.However,thesharesoftheCompanyheldbytheCompanyitselfhavenovotingrights,andsuchsharesarenotincludedinthetotalnumberofshareswithvotingrightspresentattheshareholders'meeting.Theshareholders'meetingshallvotebyregisteredballot.Thesamevotingrightcanonlybeexercisedthroughoneofthefollowingmethods:on-site,onlineorothervotingmethods.Intheeventofduplicatevotingforthesamevotingright,theresultofthefirstvoteshallprevail.Whiletheshareholders’generalmeetingconsiderssignificantmattersaffectingtheinterestsofsmallandmediuminvestors,smallandmediuminvestorsshouldseparatevotecounting.Theresultofseparatevotecountingshouldbedisclosedpubliclytimely.Whereashareholder'spurchaseofsharesinvolvesviolationoftheprovisionsofArticle63,paragraphs1and2,oftheSecuritiesLaw,thesharesexceedingtheprescribedproportionshallnotbeallowedtoexercisetheirvotingrightswithinthirty-sixmonthsafterthepurchase,andshallnotbeincludedinthetotalnumberofshareswithvotingrightsattendingtheshareholders'meeting.Article5.13ElectionofDirectorsandSupervisorsShareholdersholdingmorethanonepercentofthetotalvotingsharesoftheCompanyhavetherighttoproposealistofcandidatesfordirectors.TheboardofdirectorsoftheCompanyandshareholderswhohold1%ormoreoftheCompany'sissuedshareseitherindividuallyorcollectivelyhavetherighttonominatecandidatesforindependentdirectors.Iftheshareholders'meetingintendstodiscusstheelectionofdirectors,thedetailedinformationofthedirectorcandidateswillbefullydisclosedinthenoticeoftheshareholders'meeting.Atleastincludethefollowingcontents:educationalbackground,workexperience,part-timejobsandotherpersonalinformation;WhetherthereisanyaffiliatedrelationshipwiththeCompanyoritscontrollingshareholderandactualcontroller;ThenumberofsharesheldintheCompany;WhetherithasbeenpunishedbytheChinaSecuritiesRegulatoryCommissionandotherrelevantdepartmentsor

disciplinedbythestockexchange.Thelistofcandidatesfordirectorsissubmittedtotheshareholders'meetingforvotingintheformofaproposal.Iftheshareholders'meetingpassestheproposalontheelectionofdirectors,thenewdirectorshalltakeofficeonthedatewhentheresolutionoftheshareholders'meetingispassed.Thefollowingcircumstancesshalladoptthecumulativevotingsystem:

(1)Electtwoormoreindependentdirectors;Whentheshareholdingratioheldbyasingleshareholderanditsconcertedactorsexceeds30%,theCompanyshallelecttwoormoredirectors.Wheretheshareholders'meetingelectsdirectorsbycumulativevoting,thevotingofindependentdirectorsandnon-independentdirectorsshallbeconductedseparately.Wheredirectorsarenotelectedbycumulativevoting,eachdirectorcandidateshallsubmitasingleproposal.Theboardofdirectorsshallformulatedetailedimplementationrulesforthecumulativevotingsysteminaccordancewiththeprovisionsofthesearticlesofassociation,andimplementthemafterapprovalbytheshareholders'meeting.Article5.14VotingonOrdinaryResolutionsWhentheshareholders'meetingmakesanordinaryresolution,itispassedifmorethanhalfofthevotingrightsheldbytheshareholderspresentagree.Theterm"ordinaryresolution"asmentionedintheprecedingparagraphreferstoaresolutionmadeonthefollowingmatters:

1.WorkReportoftheBoardofDirectors

2.Theprofitdistributionplanandlosscompensationplandraftedbytheboardofdirectors;

3.Appointmentandremovalofboardmembers,aswellastheirremunerationandpaymentmethods;

4.Othermattersthatshallbepassedbyaspecialresolutionasstipulatedbylaws,administrativeregulationsortheCompany'sarticlesofassociation.Article5.15VotingonSpecialResolutionsWhenashareholders'meetingmakesaspecialresolution,itshallbepassedonlyifmorethantwo-thirdsofthevotingrightsheldbytheshareholderspresentagree.Thespecialresolutionreferredtointheprecedingparagraphmeanstheresolutionmadeonthefollowingmatters:

1.TheCompanyincreasesordecreasesitsregisteredcapital;

2.Companydivision,spin-off,merger,dissolutionandliquidation;

3.Amendmenttothischarter;

4.IftheCompanypurchases,sellsmajorassetsorprovidesguaranteestootherswithinoneyear,andtheamountexceeds30%oftheCompany'slatestauditedtotalassets;

5.Equityincentiveplan;

6.Othermattersthatarestipulatedbylaws,administrativeregulationsorthesearticlesofassociation,aswellasthosethattheshareholders'meetingdeterminesbyanordinaryresolutiontohaveasignificantimpactontheCompanyandrequirespecialresolutionapproval.Exceptinspecialcircumstancessuchasacrisis,theCompanyshallnotenterintoacontractwithanypersonotherthandirectorsorseniormanagementpersonneltoentrustthemanagementofallorimportantbusinessoftheCompanytosuchpersonwithoutthe

approvalofaspecialresolutionoftheshareholders'meeting.Article5.16ResultsoftheVotingExceptforthecumulativevotingsystem,theshareholders'meetingwillvoteonallproposalsitembyitem.Iftherearedifferentproposalsonthesamematter,theywillbevotedonintheorderofthetimetheywereputforward.Exceptincaseswheretheshareholders'meetingissuspendedorunabletomakearesolutionduetoforcemajeureorotherspecialreasons,theshareholders'meetingwillnotsuspendorrefrainfromvotingonproposals.Whentheshareholders'meetingreviewsproposals,nomodificationswillbemadetotheproposals.Ifthereareanychanges,theyshouldberegardedasanewproposalandcannotbevotedonatthisshareholders'meeting.Thechairpersonofthemeetingshallannouncethenumberofshareholdersandtheirproxiespresentatthemeetingandthetotalnumberofshareswithvotingrightstheyholdbeforethevoting.Thenumberofshareholdersandtheirproxiespresentatthemeetingandthetotalnumberofshareswithvotingrightstheyholdshallbesubjecttotheregistrationofthemeeting.Beforetheshareholders'meetingvotesonaproposal,itshallelecttwoshareholderrepresentativestoparticipateinthevotecountingandsupervision.Wherethemattersunderdeliberationarerelatedtoshareholders,therelevantshareholdersandtheiragentsshallnotparticipateinthevotecountingorsupervision.Whentheshareholders'meetingvotesonproposals,lawyersandshareholderrepresentativesshalljointlyberesponsibleforcountingandsupervisingthevotes,andthevotingresultsshallbeannouncedonthespot.Thevotingresultsoftheresolutionsshallberecordedinthemeetingminutes.ShareholdersofaCompanyortheiragentswhovotethroughtheInternetorothermeanshavetherighttochecktheirvotingresultsthroughthecorrespondingvotingsystem.Thechairpersonofthemeetingshallannouncethevotingsituationandresultofeachproposaland,basedonthevotingresult,declarewhethertheproposalispassed.Shareholdersattendingtheshareholders'meetingshallexpressoneofthefollowingopinionsontheproposalssubmittedforvoting:agree,opposeorabstain.Whereasecuritiesregistrationandsettlementinstitution,asthenominalholderofstocksunderthetradinginterconnectionmechanismbetweenthemainlandandHongKongstockmarkets,makesadeclarationinaccordancewiththeactualholder'sintention,itisexcluded.Ballotsthatarenotfilledin,filledinincorrectly,orwhosehandwritingisillegible,aswellasballotsthathavenotbeencast,shallallberegardedasthevoter'swaiverofthevotingright,andthevotingresultofthenumberofsharesheldbythevotershallbecountedas"abstention".Ifthechairpersonofthemeetinghasanydoubtsabouttheresultoftheresolutionsubmittedforvoting,shemayorganizeacountofthevotescast.Ifthechairpersonofthemeetingfailstocountthevotes,shareholdersortheirproxiesattendingthemeetingwhohaveobjectionstotheresultsannouncedbythechairpersonhavetherighttorequesta

votecountimmediatelyaftertheannouncementofthevotingresults,andthechairpersonshallorganizethevotecountimmediately.Beforetheofficialannouncementofthevotingresults,allrelevantpartiesinvolvedintheon-site,onlineandothervotingmethodsoftheshareholders'meeting,includingtheCompany,thecounters,thesupervisors,theshareholdersandthenetworkserviceproviders,areobligatedtokeepthevotingsituationconfidential.Article5.17ResolutionsProposedbyShareholdersWhenaCompanyholdsashareholders'meeting,theboardofdirectors,theauditcommittee,andshareholderswhoholdonepercentormoreoftheCompany'sshares(includingpreferredshareswithrestoredvotingrights,etc.)eitherindividuallyorcollectivelyhavetherighttosubmitproposalstotheCompanyArticle5.18ConditionsofResolutionsShareholderswhoholdonepercentormoreoftheCompany'sshareseitherindividuallyorcollectively(includingpreferredstockswithrestoredvotingrights,etc.)maysubmitatemporaryproposalinwritingtotheconvenertendaysbeforetheshareholders'meetingisheld.Theconvenershallissueasupplementarynoticetotheshareholders'meetingwithintwodaysafterreceivingtheproposal,announcethecontentofthetemporaryproposal,andsubmitthetemporaryproposaltotheshareholders'meetingfordeliberation.However,temporaryproposalsthatviolatelaws,administrativeregulationsortheCompany'sarticlesofassociation,orarenotwithinthepurviewoftheshareholders'meeting,areexcluded.Exceptforthecircumstancesstipulatedintheprecedingparagraph,theconvenershallnotmodifytheproposalsalreadylistedinthenoticeoftheshareholders'meetingoraddnewproposalsafterissuingthenoticeoftheshareholders'meeting.Proposalsnotlistedinthenoticeoftheshareholders'meetingornotincompliancewiththeprovisionsofthesearticlesofassociationshallnotbevotedonorresolvedbytheshareholders'meeting.Article5.19MinutesofGeneralMeetingTheshareholders'meetingshouldhaverecords,whichshallbetheresponsibilityofthesecretaryoftheboardofdirectors.Themeetingminutesrecordthefollowing:

1.Thetime,place,agendaofthemeetingandthenameortitleoftheconvener;

2.Thenamesofthechairpersonofthemeetingandthedirectorsandseniormanagementpersonnelattendingthemeetingasobservers;

3.Thenumberofshareswithvotingrightsheldbydomesticshareholdersandforeignshareholdersofdomesticlistedcompaniesattendingtheshareholders'meeting,aswellastheproportionofcommonshareholders(includingpreferredshareholderswithrestoredvotingrights)andclasssharesinthetotalsharesoftheCompany;

4.Thereviewprocessofeachproposal,thekeypointsofthespeeches,aswellasthevotingsituationofdomesticshareholders,domesticlistedforeignshareholders,commonshareholders(includingpreferredshareholderswithrestoredvotingrights),andclassshareholdersoneachresolutionmatter;

5.Shareholders'inquiries,opinionsorsuggestions,aswellasthecorrespondingresponsesorexplanations;

6.Namesofthelawyer,thecountersandthesupervisors;

7.Othercontentsthatshouldbeincludedinthemeetingminutesasstipulatedinthischarter.Theconvenershallensurethatthecontentofthemeetingminutesistrue,accurateandcomplete.Directors,thesecretaryoftheboardofdirectors,theconvenerorhisrepresentative,andthechairpersonofthemeetingwhoattendorarepresentatthemeetingasobserversshallsignthemeetingminutes.Theminutesofthemeetingshallbekepttogetherwiththesignaturebookoftheshareholderspresentatthescene,thepowerofattorneyforproxyattendance,andthevalidmaterialsofthevotingsituationthroughtheInternetandothermeans.Theretentionperiodshallbenolessthantenyears.Article5.20WitnessoflawyersTheCompany'sBoardofDirectorsshallinvitealawyerholdingthesecuritiestradequalificationtoattendthegeneralmeeting,whoshallgivelegaladviceonconcernedproblemsandmakeannouncement.Article5.21RulesofProcedureforShareholders’GeneralMeetingTheCompanymaysetoutrulesofprocedure.includingnotification,registration,considerationofproposals,voting,countingofvotes,announcementofvotingresults,formationofmeetingresolutions,meetingminutesandsigning,announcement,etc.,aswellastheprincipleofauthorizationoftheboardofdirectorsbythegeneralmeetingofshareholders,theauthorizationcontentshallbeclearandspecific.Therulesofprocedureshallbeimplementedaftertheyhavebeenexaminedandapprovedbytheshareholdersingeneralmeeting.Article5.22AnnouncementontheResolutionoftheGeneralMeetingofShareholdersTheresolutionofthegeneralmeetingofshareholdersshallbeannouncedinatimelymanner,andtheannouncementshallindicatethenumberofshareholdersandproxiesthatattendedthemeeting,thenumberofthetotalvotingsharesanditsproportiontothetotalvotingsharesoftheCompany,thevotingmethod,thevotingresultofeachproposalanddetailedcontentsofeachresolution.Thedomestic-shareholdersandtheforeign-shareholdersattendingthemeetingandtheirvotingarecountedandannouncedseparately.Ifaproposalisnotadoptedorthegeneralmeetingofshareholdersmodifiestheresolutionofanypreviousgeneralmeetingofshareholders,itshallgiveaspecialexplanationintheannouncementontheresolutionofthegeneralmeetingofshareholders.Chapter6BoardofDirectorsArticle6.1BoardofDirectorsTheBoardofDirectorsoftheCompanyisthestandingexecutiveorganizationoftheshareholdersingeneralmeetingandshallbeaccountabletotheshareholdersatthegeneralmeeting.Article6.2ElectionoftheBoardofDirectorsDirectorsmustbenaturalpersons.Directors(exceptemployeedirectors)areelectedbytheshareholders'meetingandcanbeeithershareholdersornon-shareholders.ApersonshallnotserveasadirectoroftheCompanyunderanyofthefollowingcircumstances:

1.Lackingcapacityforcivilconductorhavinglimitedcapacityforcivilconduct;

2.Whereapersonhasbeensentencedtocriminalpunishmentforembezzlement,bribery,misappropriationofproperty,diversionofpropertyordisruptionofthesocialistmarketeconomicorder,orhasbeendeprivedofpoliticalrightsduetoacrime,andthetermofexecutionhasnotexceededfiveyears,andhasbeengrantedprobation,theperiodfromtheexpirationoftheprobationperiodhasnotexceededtwoyears.

3.Whereapersonhasservedasadirector,factorydirectorormanagerofaCompanyorenterpriseundergoingbankruptcyliquidationandbearspersonalresponsibilityforthebankruptcyofsuchCompanyorenterprise,andlessthanthreeyearshavepassedsincethecompletionofthebankruptcyliquidationofsuchCompanyorenterprise;

4.WhereapersonhasservedasthelegalrepresentativeofaCompanyorenterprisewhosebusinesslicensehasbeenrevokedorwhichhasbeenorderedtoclosedownduetoillegalactivitiesandbearspersonalresponsibility,andlessthanthreeyearshavepassedsincethedateofrevocationofthebusinesslicenseorordertoclosedownofsuchCompanyorenterprise;

5.Anindividualhasalargeamountofdebtthathasnotbeenrepaiduponmaturityandhasbeenlistedasadishonestexecutivebythepeople'scourt.

6.ThosewhohavebeensubjecttosecuritiesmarketentrybansbytheChinaSecuritiesRegulatoryCommissionandthebanperiodhasnotyetexpired;

7.Thosewhohavebeenpubliclyidentifiedbythestockexchangeasunsuitabletoserveasdirectors,seniormanagementpersonnel,etc.oflistedcompaniesandwhosetermshavenotyetexpired;

8.Othercontentsasprescribedbylaws,administrativeregulationsordepartmentalrules.WheredirectorsareelectedorappointedinviolationoftheprovisionsofthisArticle,suchelection,appointmentorhiringshallbeinvalid.Ifadirectorfallsunderthecircumstancesstipulatedinthisarticleduringhisorhertenure,theCompanywillremovehimorherfromofficeandsuspendhisorherperformanceofduties.Directorsserveatermofthreeyearsforeachtermandmaybere-elected,butindependentdirectorsmaynotbere-electedformorethansixyears.Theremaybenomorethanoneemployeerepresentative(i.e.,employeedirector)amongthemembersoftheCompany'sboardofdirectors.Thetermofofficeofdirectorsshallbecalculatedfromthedateofassumptionofofficeuntiltheendofthetermofthecurrentboardofdirectors.Ifthetermofofficeofadirectorexpiresandanewdirectorisnotelectedinatimelymanner,beforethenewlyelecteddirectortakesoffice,theoriginaldirectorshallstillperformthedutiesofadirectorinaccordancewiththeprovisionsoflaws,administrativeregulations,departmentalrulesandthesearticlesofassociation.Directors(exceptemployeedirectors)mayberelievedoftheirpositionsbytheshareholders'meetingbeforetheexpirationoftheirtermsofoffice.TheemployeerepresentativesontheboardofdirectorsaredemocraticallyelectedorreplacedbytheCompany'semployeesthroughtheemployeerepresentativeassembly,employeeassemblyorotherforms,withouttheneedtosubmittotheshareholders'meetingfordeliberation.Directorsmaybeconcurrentlyheldbyseniormanagementpersonnel,butthetotalnumberofdirectorsconcurrentlyholdingseniormanagementpositionsanddirectorsrepresentedbyemployeesshallnotexceedhalfofthetotalnumberofdirectorsoftheCompany.Article6.3ResponsibilitiesofDirectors

Directorsshallabidebytheprovisionsoflaws,administrativeregulationsandthearticlesofassociationoftheCompany,haveadutyofloyaltytotheCompany,takemeasurestoavoidconflictsbetweentheirowninterestsandthoseoftheCompany,andshallnotusetheirpowertoseekimproperbenefits.DirectorshavethefollowingdutiesofloyaltytotheCompany:

1.ItisprohibitedtoembezzletheCompany'spropertyormisappropriatetheCompany'sfunds.

2.TheCompany'sfundsshallnotbedepositedinanaccountopenedinone'spersonalnameorinthenameofanyotherindividual.

3.Onemustnotuseone'spositiontoofferbribesoracceptotherillegalincome.

4.Withoutreportingtotheboardofdirectorsortheshareholders'meetingandobtainingtheresolutionoftheboardofdirectorsortheshareholders'meetinginaccordancewiththeprovisionsofthesearticlesofassociation,itshallnotdirectlyorindirectlyenterintocontractsorconducttransactionswiththeCompany.

5.Oneshallnottakeadvantageofone'spositiontoseekbusinessopportunitiesbelongingtotheCompanyforoneselforothers,exceptwherethesituationisreportedtotheboardofdirectorsortheshareholders'meetingandapprovedbytheshareholders'meetingresolution,orwheretheCompany,inaccordancewithlaws,administrativeregulationsortheprovisionsofthesearticlesofassociation,isprohibitedfromtakingadvantageofsuchbusinessopportunities.

6.Withoutreportingtotheboardofdirectorsortheshareholders'meetingandobtainingtheresolutionoftheshareholders'meeting,itshallnotengageinbusinessofthesametypeasthatoftheCompanyforitselforforothers.

7.Donotacceptcommissionsfromothers'transactionswiththeCompanyforyourownuse.

8.Companysecretsshallnotbedisclosedwithoutauthorization.

9.TheyshallnottakeadvantageoftheiraffiliatedrelationshipstoharmtheinterestsoftheCompany.

10.Otherdutiesofloyaltyasstipulatedbylaws,administrativeregulations,departmentalrulesandthesearticlesofassociation.IncomeobtainedbydirectorsinviolationofthisprovisionshallbelongtotheCompany.ThosewhocauselossestotheCompanyshallbeartheliabilityforcompensation.Thecloserelativesofdirectorsandseniormanagementpersonnel,enterprisesdirectlyorindirectlycontrolledbydirectors,seniormanagementpersonnelortheircloserelatives,aswellasrelatedpartieswithotherassociatedrelationshipswithdirectorsandseniormanagementpersonnel,whenenteringintocontractsorconductingtransactionswiththeCompany,shallbesubjecttotheprovisionsofItem4ofthesecondparagraphofthisArticle.Directorsshallabidebytheprovisionsoflaws,administrativeregulationsandthesearticlesofassociation,andshallbediligenttotheCompany.Whenperformingtheirduties,theyshallexercisethereasonablecarethatamanagerusuallyhasforthebestinterestsoftheCompany.DirectorshavethefollowingdutiesofdiligencetotheCompany:

1.OneshouldexercisetherightsgrantedbytheCompanywithcaution,diligenceandconscientiousnesstoensurethattheCompany'sbusinessactivitiescomplywiththerequirementsofnationallaws,administrativeregulationsandvariousnationaleconomicpolicies,andthatbusinessactivitiesdonotexceedthebusinessscopestipulatedinthebusinesslicense.

2.Allshareholdersshouldbetreatedfairly;

3.KeepabreastoftheCompany'sbusinessoperationandmanagementstatusinatimelymanner;

4.AwrittenconfirmationopinionshouldbesignedontheCompany'sregularreportstoensurethattheinformationdisclosedbytheCompanyistrue,accurateandcomplete.

5.RelevantinformationandmaterialsshallbetruthfullyprovidedtotheAuditCommitteeandshallnotimpedetheAuditCommitteefromexercisingitspowers.

6.Otherdutiesofdiligenceasstipulatedbylaws,administrativeregulations,departmentalrulesandthesearticlesofassociation.WithouttheprovisionsoftheCompany'sarticlesofassociationorthelegalauthorizationoftheboardofdirectors,nodirectormayactonbehalfoftheCompanyortheboardofdirectorsinhisorherpersonalcapacity.Whenadirectoractsinhisorherpersonalcapacity,ifathirdpartywouldreasonablybelievethatthedirectorisactingonbehalfoftheCompanyortheboardofdirectors,thedirectorshalldeclarehisorherpositionandidentityinadvance.IfadirectorcausesdamagetootherswhileperforminghisdutiesfortheCompany,theCompanyshallbeartheliabilityforcompensation.Whereadirectorhasactedwithintentorgrossnegligence,heorsheshallalsobeartheliabilityforcompensation.TheprovisionsofthischarterregardingtheobligationsofdirectorsshallapplytotheseniormanagementpersonneloftheCompany.Whereadirectorviolateslaws,administrativeregulations,departmentalrulesortheprovisionsofthesearticlesofassociationinthecourseofperforminghisdutiesfortheCompanyandcauseslossestotheCompany,heshallbeartheliabilityforcompensation.Article6.4CandidatesforDirectorsDirectorcandidatesarenominatedbytheCompany'sshareholderseitherindividuallyorjointly.Duringtheboardofdirectors're-election,candidatesnominatedbythepreviousboardofdirectorsmayalsoserveasdirectorcandidates.ShareholdersholdingmorethanonepercentofthetotalvotingsharesoftheCompanyhavetherighttoproposealistofcandidatesfordirectors.TheboardofdirectorsoftheCompanyandshareholderswhohold1%ormoreoftheCompany'sissuedshareseitherindividuallyorcollectivelyhavetherighttonominatecandidatesforindependentdirectors.Article6.5CompositionoftheBoardofDirectorsTheboardofdirectorsadoptsanodd-numberedsystemandconsistsofninedirectors,includingindependentdirectorsandnon-independentdirectors(includingoneemployeedirector).Theboardofdirectorsshallconsistofonechairman,onevicechairmanandthreeindependentdirectors(atleastoneofwhomisanaccountingprofessional).Thechairmanandvicechairmanoftheboardshallbedirectorsnominatedbyshareholderswithintheboardofdirectorsandshallbeelectedbymorethanhalfofalldirectors.TheBoardofDirectorsshallestablishanauditcommitteeand,ifnecessary,acompensationandevaluationcommittee.ThespecialcommitteeshallberesponsibletotheBoardofDirectorsandperformitsdutiesinaccordancewiththeArticlesof

AssociationandtheauthorizationoftheBoardofDirectors,andtheproposalshallbesubmittedtotheBoardofDirectorsforconsiderationanddecision.Themembersofthespecialcommitteeareallcomposedofdirectors.TheauditCommittee,remunerationandappraisalCommitteearedominatedbyindependentdirectorsandserveasconveners.TheconvenersoftheauditCommitteeareaccountingprofessionals.TheBoardofDirectorsshallberesponsibleforformulatingtheworkingrulesofthespecialcommitteesandregulatingtheoperationofthespecialcommittees.Article6.6ConveningofBoardMeetingsTheboardmeetingisheldatleasttwiceayear.Theboardmeetingisconvenedandpresidedoverbythechairmanoftheboard.Whenthechairmanoftheboardisunabletoperformhisdutiesandpowers,thevicechairmanorotherdirectorsshallbeauthorizedbythechairmantopresideoverthemeeting.Alldirectorsshallbenotifiedinwritingtendaysbeforeeachmeeting.Suchmeetingnoticesshallspecifythedateandplaceofthemeeting,thedurationofthemeeting,thereasonsandtopicsforthemeeting,andthedateofissuanceofthenotice.Unlessotherwisestipulatedinthesearticlesofassociation,ameetingoftheboardofdirectorscanonlybeheldwhenmorethanhalfofthedirectorsarepresent.Ifadirectorisunabletoattendameetingforanyreason,heorshemayentrustanotherdirectorinwritingtoattendonhisorherbehalf.Thepowerofattorneyshouldspecifythenameoftheagent,thematterstobehandled,thescopeofauthorizationandthevalidityperiod,andbesignedorsealedbytheprincipal.Directorsattendingmeetingsonbehalfofothersshallexercisetherightsofdirectorswithinthescopeofauthorization.Ifadirectorfailstoattendaboardmeetinganddoesnotentrustarepresentativetoattend,itshallbedeemedthatheorshehaswaivedhisorhervotingrightatthatmeeting.Ifadirectorisunabletoattendtheboardmeetinginpersonfortwoconsecutivetimesanddoesnotentrustanotherdirectortoattend,itshallbedeemedthatheorsheisunabletoperformhisorherduties.Theboardofdirectorsshallrecommendtotheshareholders'meetingthatthedirectorbereplaced.Whentheboardofdirectorsconvenesanextraordinarymeeting,itshallnotifyalldirectorsinwritingfivedaysbeforethemeeting.IntheeventthatthecircumstancesstipulatedinArticles2,3and4of6.7oftheseArticlesofAssociationoccurandthechairmanoftheboardisunabletoperformhisdutiesorfailstoperformhisduties,thevicechairmanoftheboardshallperformhisduties.Ifthevicechairmanoftheboardisunabletoperformhisdutiesorfailstoperformhisduties,adirectorshallbejointlyelectedbymorethanhalfofthedirectorstoperformhisduties.Unlessmorethantwo-thirdsofthedirectorsoftheboardagreetoholdtheboardmeetingatanotherlocation,themeetingshallbeheldattheCompany'sdomicile.Article6.7ExtraordinaryMeetingsShareholdersrepresentingmorethanone-tenthofthevotingrights,morethanone-thirdofthedirectorsortheauditcommitteemayproposetoconveneatemporarymeetingoftheboardofdirectors.Thechairmanoftheboardshallconveneandpresideoveraboardmeetingwithintendaysfromthedateofreceivingtheproposal.Underthepremiseofensuringthatdirectorscanfullyexpresstheiropinions,theextraordinarymeetingoftheboardofdirectorsmaybeconductedandresolutionsmadebymeansofcommunicationvoting,andtheresolutionsshallbesignedbytheattending

directors.Article6.8FunctionsandPowersoftheBoardofDirectorsTheboardofdirectorsshallexercisethefollowingpowersandfunctions:

Beresponsibleforconveningshareholders'meetingsandreportingworktothem.

2.Implementtheresolutionsoftheshareholders'meeting;

3.DeterminetheCompany'sbusinessplansandinvestmentschemes;

4.FormulatetheCompany'sprofitdistributionplanandlosscompensationplan;

5.FormulateplansforincreasingordecreasingtheCompany'sregisteredcapital,issuingbondsorothersecurities,andgoingpublic;6DraftplansformajoracquisitionsoftheCompany,thepurchaseoftheCompany'sownstocks,ormergers,divisions,dissolutionsandchangesintheCompany'sform;

7.Withinthescopeauthorizedbytheshareholders'meeting,decideonmatterssuchastheCompany'sexternalinvestment,acquisitionandsaleofassets,assetmortgage,externalguarantee,entrustedwealthmanagement,related-partytransactions,andexternaldonations;8DecideontheestablishmentoftheinternalmanagementstructureoftheCompany;

9.DecideontheappointmentordismissaloftheCompany'smanager,thesecretaryoftheboardofdirectorsandotherseniormanagementpersonnel,anddeterminetheirremunerationandrewardsandpunishments.Basedonthenominationofthemanager,decideontheappointmentordismissalofseniormanagementpersonnelsuchasdeputymanagersandfinancialofficersoftheCompany,anddeterminetheirremunerationandrewardsandpunishments.

10.FormulatethebasicmanagementsystemsoftheCompany;

11.FormulatetheamendmentplanfortheCompany'sarticlesofassociation;

12.ManagetheCompany'sinformationdisclosurematters;

13.Requesttheshareholders'meetingtoengageorreplacetheaccountingfirmfortheCompany'saudit.

14.ListentotheworkreportoftheCompanymanagerandinspectthemanager'swork;

15.Otherpowersasstipulatedbylaws,administrativeregulations,departmentalrules,thesearticlesofassociation,orgrantedbytheshareholders'meeting.Theboardofdirectorsshallexplaintotheshareholders'meetingthenon-standardauditopinionsissuedbythecertifiedpublicaccountantsontheCompany'sfinancialreports.WhentheboardofdirectorsusestheCompany'sassetsforventurecapitalinvestment,itshouldestablishstrictreviewanddecision-makingprocedures.Majorinvestmentprojectsshouldbereviewedbyrelevantexpertsandprofessionalsandsubmittedtotheshareholders'meetingforapproval.Theboardofdirectorsshalldeterminetheauthorityforexternalinvestment,acquisitionandsaleofassets,assetmortgage,externalguaranteematters,andentrustedwealthmanagement,related-partytransactions,externaldonations,etc.,andestablishstrictreviewanddecision-makingprocedures.Majorinvestmentprojectsshouldbereviewedbyrelevantexpertsandprofessionalsandsubmittedtotheshareholders'meetingforapproval.ThereviewauthorityoftheCompany'sboardofdirectorsontheabovemattersisthesameasthescopeof"transactionsthatshouldbedisclosed"asstipulatedinthe"StockListingRulesofShenzhenStockExchange".Forthosethatmeetthestandardsforreview

bytheshareholders'meeting,theyshallbesubmittedseparatelytotheshareholders'meetingforreviewandapproval.Article6.9DutiesandPowersoftheChairmanTheprincipaldutiesandpowersoftheChairmanareasfollows:

1.Presideovershareholders'meetingsandconveneandpresideoverboardmeetings;

2.Superviseandinspecttheimplementationoftheboardofdirectors'resolutions;

3.Otherpowersconferredbytheboardofdirectors.ThevicechairmanoftheCompanyassiststhechairmaninhiswork.Ifthechairmanisunabletoperformhisdutiesorfailstoperformhisduties,thevicechairmanshallperformhisduties.Ifthevicechairmanoftheboardisunabletoperformhisdutiesorfailstoperformhisduties,adirectorshallbejointlyelectedbymorethanhalfofthedirectorstoperformhisduties.Article6.10DismissalofDirectorsTheshareholders'meetingmayresolvetoremoveadirector,andtheremovalshalltakeeffectonthedatetheresolutionismade.Ifadirectorisremovedfromofficebeforetheexpirationofhistermwithoutjustifiablereasons,thedirectormaydemandcompensationfromtheCompany.Article6.11ResignationofDirectorsDirectorsmayresignbeforetheexpirationofhistermofoffice.Whenadirectorresigns,heorsheshallsubmitawrittenresignationreporttotheCompany.TheresignationtakeseffectonthedatetheCompanyreceivestheresignationreport,andtheCompanywilldisclosetherelevantsituationwithintwotradingdays.IfadirectorisunabletoresignduetothefactthatheorshehasnotyetbeenrelievedofcertainresponsibilitiesandthuscauseslossestotheCompany,heorsheshallbeartheliabilityforcompensation.IfthenumberofboardmembersoftheCompanyfallsbelowthelegallyprescribedminimumduetotheresignationofadirector,theoriginaldirectorshallstillperformthedutiesofadirectorinaccordancewithlaws,administrativeregulations,departmentalrulesandtheprovisionsofthesearticlesofassociationbeforethenewlyelecteddirectortakesoffice.TheCompanyhasestablishedadirectordeparturemanagementsystem,clearlydefiningsafeguardmeasuresforaccountabilityandcompensationforunfulfilledpubliccommitmentsandotherunresolvedmatters.Whenadirectorresignsorhistermofofficeexpires,heshallcompleteallhandoverprocedureswiththeboardofdirectors.HisobligationstotheCompanyandshareholdersshallnotbeautomaticallyrelievedbeforetheresignationreporttakeseffectorwithinsixmonthsafterittakeseffect,orwithinsixmonthsaftertheendofhistermofoffice.HisobligationtokeeptheCompany'sbusinesssecretsconfidentialshallremainvalidafterhistermofofficeendsuntilthesecretsbecomepublicinformation.Thedurationofotherobligationsshallbedeterminedinaccordancewiththeprincipleoffairness,dependingonthelengthoftimebetweentheoccurrenceoftheeventandthedeparture,aswellasthecircumstancesandconditionsunderwhichtherelationshipwiththeCompanyends.DirectorswhosetermsofofficehavenotyetendedshallbeliableforcompensationforthelossescausedtotheCompanyduetotheirunauthorizeddeparture.Article6.12VotingbytheBoardofDirectorsThevotingontheresolutionsoftheboardofdirectorsshallfollowthesystemofone

person,onevote.Aresolutionoftheboardofdirectorsmustbepassedbymorethanhalfofallthedirectors.Ifadirectorhasanassociatedrelationshipwithanenterpriseorindividualinvolvedinthemattersresolvedattheboardmeeting,suchdirectorshallpromptlysubmitawrittenreporttotheboardofdirectors.Directorswithanassociatedrelationshipshallnotexercisetherighttovoteontheresolution,norshalltheyexercisetherighttovoteonbehalfofotherdirectors.Theboardmeetingcanbeheldwhenmorethanhalfofthedirectorswithoutaffiliatedrelationshipsarepresent.Theresolutionsmadeattheboardmeetingmustbepassedbymorethanhalfofthedirectorswithoutaffiliatedrelationships.Ifthenumberofunaffiliateddirectorsattendingtheboardmeetingislessthanthree,themattershallbesubmittedtotheshareholders'meetingfordeliberation.Exceptfortheapprovalofmorethanhalfofthedirectorsoftheboardofdirectors(excludingtherelevantdirectors)ortheshareholders'meeting,directorsshallnotenterintocontractsorconducttransactionswiththeCompany.Article6.13WrittenResolutionsTheBoardofDirectorsmaypassawrittenresolutionwithoutconveningaboardmeetingprovidedthatthewrittenresolutionshallbecirculatedamongandsignedbyallthedirectors.Awrittenresolutionshalltakeeffectfromthedaywhenitissignedbythelastdirector.AwrittenresolutionshallhavethesameeffectasotherresolutionspassedbytheBoardofDirectors.Article6.14RulesofDecisionsoftheBoardofDirectorsTheBoardofDirectorsmaysetoutrulesofdecisionstoensurethattheBoardofDirectorscanoperateeffectivelyandperformtheirdutiesproperly.TherulesofdecisionsoftheBoardofDirectorsshallbeimplementedaftertheyhavebeenexaminedandapprovedbytheshareholdersingeneralmeeting.Article6.15MinutesofBoardMeetingMinutesofboardmeetingshallbepreparedwhichshallrecordtheagendaandthematerialcontentsoftheboardmeetingincludingthedateandvenueoftheboardmeeting,thenameoftheconvener,thenamesofthedirectorspresent,thenamesofthedirectorswhoappointproxiestoattendtheboardmeetingandthenamesoftheproxies,theagenda,thevotingmethodandresultofeveryproposedresolution.Theminutesshallbesignedbyallthedirectorspresentatthemeeting(includingtheproxiesappointedbythedirectors)andshallthenbefiledandshallnotbedestroyedfortenyears.Directorsareentitledtorequesttohavecertainnotesrecordedintheminutes.Directorsshallberesponsiblefortheresolutionsoftheboardmeeting.WhentheresolutionoftheBoardofDirectorsisincontraventionwiththelawsandregulationsortheArticlesofAssociationandcausesseriouslossestotheCompany,thedirectorsapprovingtheresolutionshallbeliabletocompensatetheCompany.However,adirectormaybeexemptedfromliabilitiesifitisprovedandrecordedintheminutesofboardmeetingthatheobjectedtotherelevantresolutionduringvoting.Directorswhoneitherattendedthemeeting,norappointedproxies,norprovidedwrittenopinionsregardingtherelevantresolutionatthetimeoftheboardmeetingorpriortotheboardmeeting,shallberegardedasnothavingexpressedanyobjectionsandshallnotbeexemptedfromliabilities.Article6.16SecretaryoftheBoardofDirectorsTheCompanyhasasecretaryoftheboardofdirectors,whoisresponsibleforthe

preparationofshareholders'meetingsandboardmeetings,thesafekeepingofdocuments,themanagementofshareholderinformation,andthehandlingofinformationdisclosureaffairs,etc.Thesecretaryoftheboardofdirectorsshallabidebytherelevantprovisionsoflaws,administrativeregulations,departmentalrulesandthesearticlesofassociation.Article6.17IndependentdirectorsIndependentdirectorsshall,inaccordancewithlaws,administrativeregulations,theChinaSecuritiesRegulatoryCommission,thestockexchangeandtheprovisionsofthesearticlesofassociation,conscientiouslyperformtheirduties,playaroleinparticipatingindecision-making,supervisionandchecksandbalances,andprofessionalconsultationwithintheboardofdirectors,safeguardtheoverallinterestsoftheCompany,andprotectthelegitimaterightsandinterestsofminorityshareholders.Toserveasanindependentdirector,thefollowingbasicconditionsmustbemet:

Inaccordancewithlaws,administrativeregulationsandotherrelevantprovisions,oneisqualifiedtoserveasadirectorofalistedCompany.

2.Complywiththeindependencerequirementsstipulatedinthischarter;

3.Possessbasicknowledgeoftheoperationoflistedcompaniesandbefamiliarwithrelevantlaws,administrativeregulations,rulesandregulations;

4.Havemorethanfiveyearsofworkingexperienceinlaw,accountingoreconomics,etc.necessarytoperformthedutiesofanindependentdirector;

5.Havegoodpersonalcharacterandnomajorrecordsofbadfaithorothermisconduct;

6.Otherconditionsasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommission,thebusinessrulesofthestockexchangeandthesearticlesofassociation.IndependentdirectorsmustmaintaintheirindependenceThefollowingpersonsarenoteligibletoserveasindependentdirectors:

1.PersonnelemployedbytheCompanyoritsaffiliatedenterprises,aswellastheirspouses,parents,children,andmajorsocialrelations;

2.Thosewhodirectlyorindirectlyholdmorethan1%oftheCompany'sissuedsharesorarenaturalpersonshareholdersamongthetoptenshareholdersoftheCompany,aswellastheirspouses,parentsorchildren;

3.Personnelwhoareemployedinshareholderunitsthatdirectlyorindirectlyholdmorethan5%oftheCompany'sissuedsharesorinthetopfiveshareholderunitsoftheCompany,aswellastheirspouses,parentsandchildren;

4.PersonnelemployedintheaffiliatedenterprisesoftheCompany'scontrollingshareholderoractualcontroller,aswellastheirspouses,parentsandchildren;

5.PersonnelwhohavesignificantbusinessdealingswiththeCompany,itscontrollingshareholders,actualcontrollersortheirrespectiveaffiliatedenterprises,orpersonnelwhoholdpositionsinunitswithsignificantbusinessdealings,theircontrollingshareholdersoractualcontrollers;

6.Personnelwhoprovidefinancial,legal,consulting,sponsorshipandotherservicesfortheCompanyanditscontrollingshareholders,actualcontrollersortheirrespectiveaffiliatedenterprises,includingbutnotlimitedtoallmembersoftheprojectteamoftheintermediaryinstitutionsprovidingservices,reviewpersonnelatalllevels,personnelsigningthereport,partners,directors,seniormanagementpersonnelandmainresponsiblepersons;

7.Personnelwhohavehadanyofthecircumstanceslistedinthefirstsixitemswithinthelasttwelvemonths;

8.Otherpersonnelwholackindependenceasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommission,thebusinessrulesofthestockexchangeandthesearticlesofassociation.TheaffiliatedenterprisesoftheCompany'scontrollingshareholderoractualcontrollerasmentionedinthefourthtosixthitemsoftheprecedingparagraphdonotincludethoseenterprisesthatarecontrolledbythesamestate-ownedassetsmanagementinstitutionastheCompanyandhavenotformedanaffiliatedrelationshipwiththeCompanyinaccordancewithrelevantregulations.Independentdirectorsshallconductself-examinationsoftheirindependenceeveryyearandsubmittheself-examinationresultstotheboardofdirectors.Theboardofdirectorsshallassesstheindependenceoftheservingindependentdirectorseveryyearandissueaspecialopinion,whichshallbedisclosedsimultaneouslywiththeannualreport.Asmembersoftheboardofdirectors,independentdirectorsareobligatedtobeloyalanddiligenttotheCompanyandallshareholders,andshallprudentlyperformthefollowingduties:

Participateinthedecision-makingoftheboardofdirectorsandexpressclearopinionsonthemattersdiscussed;

2.SupervisepotentialmajorconflictsofinterestbetweentheCompanyanditscontrollingshareholders,actualcontrollers,directors,andseniormanagementpersonnel,andprotectthelegitimaterightsandinterestsofminorityshareholders.

3.ProvideprofessionalandobjectivesuggestionsfortheCompany'soperationanddevelopmenttopromotetheimprovementoftheboardofdirectors'decision-makinglevel;

4.Otherdutiesasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandtheseArticlesofAssociation.Independentdirectorsexercisethefollowingspecialpowers:

Independentlyengageintermediaryagenciestoconductaudits,consultationsorverificationsonspecificmattersoftheCompany;

2.Proposetotheboardofdirectorstoconveneanextraordinaryshareholders'meeting;

3.Proposetoconveneaboardmeeting;

4.Publiclysolicitshareholderrightsfromshareholdersinaccordancewiththelaw;

5.ExpressindependentopinionsonmattersthatmayharmtherightsandinterestsoftheCompany'soritsminorityshareholders;

6.Otherpowersasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthesearticlesofAssociation.Whereanindependentdirectorexercisesthepowerslistedinitems1to3oftheprecedingparagraph,itshallbesubjecttotheconsentofmorethanhalfofallindependentdirectors.Whenindependentdirectorsexercisethepowerslistedintheprecedingparagraph,theCompanywilldisclosetheminatimelymanner.Iftheabove-mentionedpowerscannotbeexercisednormally,theCompanywilldisclosethespecificcircumstancesandreasons.ThefollowingmattersshallbesubmittedtotheboardofdirectorsfordeliberationafterbeingapprovedbymorethanhalfofallindependentdirectorsoftheCompany:

Related-partytransactionsthatshouldbedisclosed;

2.PlansfortheCompanyandrelatedpartiestochangeorexemptcommitments;

3.ThedecisionsmadeandmeasurestakenbytheboardofdirectorsoftheacquiredlistedCompanyregardingtheacquisition;

4.Othermattersasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthesearticlesofAssociation.TheCompanyhasestablishedaspecialmeetingmechanismattendedbyallindependentdirectors.Whentheboardofdirectorsdeliberatesonmatterssuchasrelated-partytransactions,itshallbeapprovedinadvancebythespecialmeetingofindependentdirectors.TheCompanyholdsspecialmeetingsofindependentdirectorsonaregularorirregularbasis.Items1to3ofthespecialpowersofindependentdirectorsandallmatterslistedintheprecedingparagraphshallbedeliberatedataspecialmeetingofindependentdirectors.ThespecialmeetingofindependentdirectorsmaystudyanddiscussothermattersoftheCompanyasneeded.Thespecialmeetingofindependentdirectorsshallbeconvenedandpresidedoverbyoneindependentdirectorjointlyelectedbymorethanhalfoftheindependentdirectors.Whentheconvenerfailstoperformhisorherdutiesorisunabletodoso,twoormoreindependentdirectorsmayconvenethemeetingontheirownandelectarepresentativetopresideoverit.Thespecialmeetingofindependentdirectorsselectsandreviewscandidatesfordirectorsandseniormanagementpersonnelandtheirqualifications,andmakessuggestionstotheboardofdirectorsonthefollowingmatters:

1.Nominateorappointdirectors;

2.Appointordismissseniormanagementpersonnel;

3.Othermattersasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthesearticlesofAssociation.Thespecialmeetingofindependentdirectorsshallbeconvenedandpresidedoverbyoneindependentdirectorjointlyelectedbymorethanhalfoftheindependentdirectors.Whentheconvenerfailstoperformhisorherdutiesorisunabletodoso,twoormoreindependentdirectorsmayconvenethemeetingontheirownandelectarepresentativetopresideoverit.Thespecialmeetingofindependentdirectorsshallmakemeetingminutesasprescribed,andtheopinionsofindependentdirectorsshallberecordedinthemeetingminutes.Independentdirectorsshallsigntoconfirmtheminutesofthemeeting.TheCompanyprovidesconvenienceandsupportfortheconveningofspecialmeetingsforindependentdirectors.Chapter7SpecialCommitteesoftheBoardofDirectorsArticle7.1AuditCommitteeTheCompany'sboardofdirectorshasestablishedanauditcommittee.TheAuditCommitteeconsistsoffivemembers,allofwhomaredirectorswhodonotholdseniormanagementpositionsintheCompany.Amongthem,therearethreeindependentdirectors,andtheconvenerisanaccountingprofessionalamongtheindependentdirectors.Employeerepresentativesamongtheboardmemberscanbecomemembersoftheauditcommittee.TheAuditCommitteeisresponsibleforreviewingtheCompany'sfinancialinformation

anditsdisclosure,supervisingandevaluatinginternalandexternalauditworkandinternalcontrol.ThefollowingmattersshallbesubmittedtotheBoardofDirectorsfordeliberationafterbeingapprovedbymorethanhalfofallmembersoftheAuditCommittee:

Disclosefinancialinformationandinternalcontrolevaluationreportsinfinancialaccountingreportsandregularreports;

2.Engageordismissaccountingfirmsundertakingtheauditingbusinessoflistedcompanies;

3.AppointordismissthefinancialofficerofalistedCompany;

4.Makingchangestoaccountingpolicies,accountingestimatesorcorrectionsofsignificantaccountingerrorsforreasonsotherthanchangesinaccountingstandards;

5.Othermattersasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthesearticlesofAssociation.TheAuditCommitteeholdsatleastonemeetingeveryquarter.Atemporarymeetingmaybeconvenedupontheproposaloftwoormoremembersorwhentheconvenerdeemsitnecessary.ThemeetingoftheAuditCommitteecanonlybeheldwhenmorethantwo-thirdsofthemembersarepresent.TheresolutionoftheAuditCommitteeshallbepassedbymorethanhalfofthemembersoftheAuditCommittee.ThevotingontheresolutionsoftheAuditcommitteeshallbeonevoteperperson.TheresolutionsoftheAuditcommitteeshallberecordedinaccordancewiththeregulations,andthemembersoftheauditCommitteeattendingthemeetingshallsignontheminutes.TheworkingproceduresoftheAuditCommitteeshallbeformulatedbytheboardofdirectors.Article7.2CompensationandAppraisalCommitteeTheRemunerationandAppraisalCommitteeoftheBoardofDirectorsisresponsibleforformulatingandconductingtheappraisalstandardsfordirectorsandseniormanagementpersonnel,formulatingandreviewingtheremunerationdecision-makingmechanism,decision-makingprocess,paymentandstop-paymentrecoveryarrangementsandotherremunerationpoliciesandplansfordirectorsandseniormanagementpersonnel,andmakingsuggestionstotheBoardofDirectorsonthefollowingmatters:

Remunerationofdirectorsandseniormanagementpersonnel;

2.Theachievementsofformulatingoramendingequityincentiveplansoremployeestockownershipplans,andthegrantingofrightsandtheconditionsforexercisingsuchrightstotheincentiverecipients;

3.Directorsandseniormanagementpersonnelarrangeshareholdingplansforthesubsidiariestobespunoff.

4.Othermattersasstipulatedbylaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthesearticlesofAssociation.IftheboardofdirectorsfailstoadoptorfullyadoptthesuggestionsoftheCompensationandAppraisalCommittee,itshallrecordtheopinionsoftheCompensationandAppraisalCommitteeandthespecificreasonsfornon-adoptionintheboardresolutionandmakeadisclosure.Chapter8BusinessManagementStructure

Article8.1GeneralManagerandDeputyGeneralManagerTheCompanyshalladoptasystemwherebythegeneralmanagerassumesresponsibilityundertheleadershipoftheBoardofDirectors.Thereshallbeonegeneralmanagerandseveraldeputygeneralmanagers.UndertheleadershipoftheBoardofDirectors,thegeneralmanagershallberesponsibleforthemanagementoftheday-to-dayoperationsoftheCompany.Thedeputygeneralmanagersshallassistthegeneralmanagerinhisworkandwhenthegeneralmanagerisunabletoperformhisdutiesforanyreason,theBoardofDirectorsshallauthorizeadeputygeneralmanagertoperformthedutiesofthegeneralmanager.TheCompanyshallhaveseveralfunctionaldepartmentsworkingundertheleadershipofthegeneralmanager.Thegeneralmanagerisappointedforatermof3yearsandcanserveconsecutivetermsifreappointed.Article8.2ElectionThegeneralmanagershallbenominatedbythechairmanandappointedbytheBoardofDirectors.ThedeputygeneralmanagersandotherseniormanagementpersonnelshallbenominatedbythegeneralmanagerandappointedbytheBoardofDirectors.ThegeneralmanageranddeputygeneralmanagersmayalsobethemembersoftheBoardofDirectors.AnypersonwhoholdsthepositionotherthanadirectorintheCompany’scontrollingshareholderoractualcontroller’sunitshallnotholdanypositionintheseniormanagementoftheCompany.Article8.3ResignationThegeneralmanageranddeputygeneralmanagercanresignbeforetheexpiryofhistermofoffice.AresignationreportsubmittedtotheBoardofDirectorsshallonlybeeffectiveafteranexaminationontheresignationreporthasbeencompleted.Article8.4DutiesandPowersoftheGeneralManagerThegeneralmanagershallhavethefollowingdutiesandpowers:

1.PresideovertheCompany'sproduction,operationandmanagementwork,organizeandimplementtheresolutionsoftheboardofdirectors,andreportworktotheboardofdirectors;

2.OrganizeandimplementtheCompany'sannualbusinessplanandinvestmentscheme;

3.DrafttheplanfortheestablishmentoftheCompany'sinternalmanagementinstitutions;

4.DraftthebasicmanagementsystemsoftheCompany;

5.FormulatethespecificregulationsoftheCompany;

6.ProposetotheboardofdirectorstheappointmentordismissaloftheCompany'sdeputymanagerandfinancialofficer;

7.Decideontheappointmentordismissalofmanagementpersonnelotherthanthosewhoshouldbeappointedordismissedbytheboardofdirectors;

8.Otherpowersconferredbythischarterortheboardofdirectors.Themanagerattendedtheboardmeetingasanobserver.Whenexercisinghispowers,thegeneralmanagershallnotchangetheresolutionsoftheshareholders'meetingandtheboardofdirectorsorexceedthescopeofhisauthorization.Anon-managingdirectorhasnovotingrightsontheboardofdirectors.Article8.5DutiesandPowersoftheDeputyGeneralManagerThedeputygeneralmanagersshallhavethefollowingdutiesandpowers:

1.toassistintheworkofthegeneralmanagerandinthecasewherethegeneralmanagercannotexercisehisdutiesandpowers,toactonhisbehalfwiththeauthorisationoftheBoardofDirectors.

2.toberesponsibleforthemanagementoftheworkofthedesignateddepartments.Article8.6LimitationsontheConductoftheManagementPersonnelIfseniormanagementpersonnelcausedamagetootherswhileperformingtheirdutiesintheCompany,theCompanywillbeartheliabilityforcompensation.Seniormanagementpersonnelwhohaveactedwithintentorgrossnegligenceshallalsobearliabilityforcompensation.Seniormanagementpersonnelwho,inthecourseofperformingtheirdutiesfortheCompany,violatelaws,administrativeregulations,departmentalrulesortheprovisionsofthesearticlesofassociationandcauselossestotheCompanyshallbeartheliabilityforcompensation.SeniormanagementpersonneloftheCompanyshallfaithfullyperformtheirdutiesandsafeguardthemaximuminterestsoftheCompanyandallshareholders.WhereseniormanagementpersonnelofaCompanyfailtoperformtheirdutiesfaithfullyorviolatetheirdutyofgoodfaith,causingdamagetotheinterestsoftheCompanyandpublicshareholders,theyshallbeartheliabilityforcompensationinaccordancewiththelaw.TheCompanyshouldformulatedetailedrulesfortheworkofthegeneralmanager,whichshallbeimplementedafterbeingapprovedbytheboardofdirectors.Thedetailedrulesforthegeneralmanager'sworkincludethefollowingcontents:

Theconditions,proceduresandparticipantsofthegeneralmanager'smeeting;

2.Thespecificresponsibilitiesanddivisionsoflaborofthegeneralmanagerandotherseniormanagementpersonnelrespectively;

3.TheCompany'suseoffundsandassets,theauthoritytosignmajorcontracts,andthereportingsystemtotheboardofdirectors;

4.Othermattersthattheboardofdirectorsdeemsnecessary.Theprovisionsofthischarterregardingthecircumstancesunderwhichoneisnotallowedtoserveasadirectorandtheresignationmanagementsystemshallalsoapplytoseniormanagementpersonnel.Theprovisionsofthischarterregardingthedutiesofloyaltyanddiligenceofdirectorsshallalsoapplytoseniormanagementpersonnel.Article8.7PenaltiesWheretheCompanysufferseconomiclossesasaresultofthecontraventionofthelawsandregulations,theArticlesofAssociationortheresolutionspassedbyshareholdersingeneralmeetings,practiceoffavoritism,malpracticeorneglectionofdutiesbyseniormanagementpersonnelsuchasthedirectorsorthegeneralmanager)dependingonthecircumstancesanduponapprovalbytheBoardofdirectors,thefollowingpunishmentsshallbeimposed:

1.torestricttheirrights;

2.toremovethemfromtheiroffice;

3.toholdthemliableforanyresultingeconomicloss;

4.wherethereisviolationoflaw,toinitiateproceedingsinajudicialauthoritypursuanttothelawsandtoholdthemlegallyliable.

Chapter9LabourandPersonnelManagementArticle9.1LabourandPersonnelManagementandSalaryTheCompanyisentitledtoemploystaffandtoformulateitspersonnelmanagementpoliciesatitsowndiscretioninaccordancewiththeLabourLawofthePeople'sRepublicofChinaandstatutoryregulationsandpoliciesconcerninglabourandpersonnelmanagementofLiaoningProvinceandDalianMunicipality.TheCompanyisentitledtodeterminethesalariesofthesalariedpersonnelandthemethodofpaymentatitsowndiscretioninaccordancewiththelaws.Article9.2EmploymentContractsTheCompanyshallenterintoemploymentcontractswithitsstaffandworkerstoprovidefortheemploymentrelationshipandtoclarifytherightsandobligationsofbothparties.TheCompanyisentitledtoimposeadministrativepenaltiesonunqualifiedstaff,eventotheextentoftheirdismissalordischargefromtheCompany.Anemployeewhoisdismissedshallbegivenonemonth'snoticeandshallbeentitledtoaddresshisgrievancestotherelevantdepartmentoftheCompanyandgovernmentdepartment.EmployeesoftheCompanyhavethefreedomtoresignprovidedthatnecessaryproceduresinaccordancewiththeCompany'spersonnelmanagementpoliciesmustbecompliedwith.ResigningemployeeswhofailtofollowtheprescribedproceduresshallbeliableforanyeconomiclosssufferedbytheCompany.Article9.3EmployeesWelfareTheCompanyshallallocatefundstocovertheinsuranceforthemedicaltreatment,retirementandunemploymentofitsemployeesinaccordancewiththerelevantlawsandregulationsoftheStateandLiaoningProvince.Employeesshallenjoythecorrespondinginsurancebenefits.Article9.4HealthandSafetyatWorkLabourprotectionandtherelateddisputesshallbedealtwithinaccordancewiththeLabourLawofthePeople'sRepublicofChinaandotherrelevantstatutoryregulations.Article9.5HolidaysThestaffoftheCompanyshallbeentitledtoholidaysinaccordancewiththeprovisionsofthelawsandregulationsoftheState.Article9.6LabourUnionTheCompany'semployeesareentitledtoformalabourunion,toorganizeunionactivitiesandtosafeguardtheirlegalinterestsinaccordancewiththeLabourUnionLawofthePeople'sRepublicofChinaandotherrelevantregulations.ThelabourunionoftheCompanyistherepresentativeofthestaff'sinterests.Itsprimaryobjectiveistoprotecttherightsandmaterialinterestsofthestaffinaccordancewiththelaws,toassistandsupervisetheuseoftheCompany'sreservesandpublicwelfarefund,toorganizetheeducationofthestaffonscienceandtechnologyandtodevelopculturalandsportsactivities.WhentheBoardofDirectorsoftheCompanyisdecidingonmattersconcerningthestaff'spersonalinterestsincludingsalaries,benefits,industrialsafety,labourprotectionandlabourinsurance,thelabourunionandthestaffoftheCompanyshallbeconsultedandtherepresentativesoflabourunionshallbeinvitedtoattendtherelevantmeetings.Chapter10Finance,AccountingandAuditingArticle10.1FinancialSystems

TheCompanyshallformulateitsfinancialandaccountingsystemandinternalauditingsystemandshallpreparequarterlyreports,interimreportsandannualreportsinaccordancewiththerelevantlawsandregulationsoftheState.Article10.2AccountingYearTheCompanyshalladopttheGregoriancalendaryearasitsaccountingyear,whichshallbeginon1stJanuaryandendon31stDecemberofeachyear.Article10.3Book-keepingSystemTheCompanyshalladopttheaccrualbasisofaccountingandthedebitandcreditdoubleentrysystemascommonlyusedworldwide.Article10.4DenominationofCurrencyTheCompanyshalladopttheRenminbiasthedenominationofcurrencyinpreparationofitsaccounts.WhenconvertingRenminbiintoothercurrencies,theexchangerateshallbefixedatthemedianofthebuyingandsellingratesattheforeignexchangetradingmarketaspublishedbythePeople'sBankofChinaontheactualdayofconversion.BusinessconductedincurrenciesotherthantheRenminbishallbeprocessedinaccordancewiththerelevantlawsandregulationsrelatingtotheforeigncurrencyadministrationoftheState.Article10.5LanguageforBookkeepingTheCompany'svouchers,accountbooksandstatementsshallallbepreparedinChinese.BooksandstatementsmayalsobepreparedinEnglishifnecessary,buttheChineseversionshallprevail.Article10.6QuarterlyReport,InterimReportandAnnualReportTheCompany'sannualfinancialreportshouldbeauditedbyanaccountingfirmregisteredinChinawiththequalificationtoengageinsecuritiesbusiness,andtheauditreportissuedbyitshallprevail.TheCompanyshallsubmitanddiscloseitsannualreporttothedispatchedinstitutionsoftheChinaSecuritiesRegulatoryCommissionandthestockexchangewithinfourmonthsfromtheendofeachfiscalyear,andsubmitanddiscloseitsinterimreporttothedispatchedinstitutionsoftheChinaSecuritiesRegulatoryCommissionandthestockexchangewithintwomonthsfromtheendofthefirsthalfofeachfiscalyear.Theabove-mentionedannualreportsandinterimreportshavebeenpreparedinaccordancewithrelevantlaws,administrativeregulations,theprovisionsoftheChinaSecuritiesRegulatoryCommissionandthestockexchanges.Article10.7FinancialReportForeachaccountingyear,theCompanyshallmaintainitsfinancialreportauditedbyanaccountingfirmattheregisteredaddressoftheCompanyfortheshareholderstoinspectandphotocopyandshallpublishthefinancialreportinaccordancewiththelawsandregulationsandtheArticlesofAssociation.Article10.8InternalAuditTheCompanyimplementsaninternalauditsystem,clearlydefiningtheleadershipsystem,responsibilitiesandauthorities,personnelallocation,financialguarantee,applicationofauditresultsandaccountabilityforinternalauditwork.TheinternalauditsystemoftheCompanyisimplementedafterbeingapprovedbytheboardofdirectorsanddisclosedtothepublic.TheinternalauditinstitutionoftheCompanysupervisesandinspectsmatterssuchastheCompany'sbusinessactivities,riskmanagement,internalcontrol,andfinancial

information.Theinternalauditinstitutionisaccountabletotheboardofdirectors.IntheprocessofsupervisingandinspectingtheCompany'sbusinessactivities,riskmanagement,internalcontrolandfinancialinformation,theinternalauditinstitutionshallacceptthesupervisionandguidanceoftheauditcommittee.Whentheinternalauditinstitutiondiscoversanymajorissuesorclues,itshallimmediatelyreportthemdirectlytotheAuditCommittee.ThespecificimplementationandorganizationoftheinternalcontrolevaluationoftheCompanyshallbetheresponsibilityoftheinternalauditinstitution.TheCompanyissuestheannualinternalcontrolevaluationreportbasedontheevaluationreportissuedbytheinternalauditinstitutionandreviewedbytheauditcommittee,aswellasrelevantmaterials.WhentheAuditCommitteecommunicateswithexternalauditingunitssuchasaccountingfirmsandnationalauditinginstitutions,theinternalauditinginstitutionsshouldactivelycooperateandprovidenecessarysupportandcollaboration.TheAuditCommitteeparticipatesintheassessmentofthepersoninchargeofinternalaudit.Article10.9CommonReservesWhenaCompanydistributesitsafter-taxprofitsforthecurrentyear,itshallsetasidetenpercentoftheprofitsastheCompany'slegalreservefund.IftheaccumulatedamountoftheCompany'slegalreservefundreachesmorethan50%oftheCompany'sregisteredcapital,nofurtherwithdrawalisrequired.IftheCompany'slegalreservefundisinsufficienttocoverthelossesofpreviousyears,thelossesshallbemadeupfromthecurrentyear'sprofitsbeforethelegalreservefundiswithdrawninaccordancewiththeprovisionsoftheprecedingparagraph.AftertheCompanyhassetasidethestatutoryreservefundfromitsafter-taxprofits,itmay,uponresolutionoftheshareholders'meeting,alsosetasidediscretionaryreservefundsfromitsafter-taxprofits.Theremainingafter-taxprofitsoftheCompanyaftermakingupforlossesandsettingasidethereservefundshallbedistributedamongshareholdersinproportiontothesharestheyhold,exceptasotherwiseprovidedinthesearticlesofassociation.Wheretheshareholders'meetingviolatestheCompanyLawbydistributingprofitstoshareholders,theshareholdersshallreturntheprofitsdistributedinviolationoftheregulationstotheCompany.WherelossesarecausedtotheCompany,shareholdersanddirectorsandseniormanagementpersonnelwhoareresponsibleshallbeartheliabilityforcompensation.ThesharesoftheCompanyheldbytheCompanyitselfdonotparticipateinthedistributionofprofits.Article10.10UseofCommonReservesTheCompany'sreservefundisusedtocovertheCompany'slosses,expandtheCompany'sproductionandoperation,orbeconvertedintoanincreaseintheCompany'sregisteredcapital.TheprovidentfundisusedtomakeupfortheCompany'slosses.Thediscretionaryprovidentfundandthestatutoryprovidentfundareusedfirst.Ifitstillcannotbemadeupfor,thecapitalreservefundmaybeusedinaccordancewiththeregulations.Whenthelegalreservefundisconvertedintoanincreaseinregisteredcapital,the

remainingportionofsuchreservefundshallbenolessthan25%oftheCompany'sregisteredcapitalbeforetheconversion.Article10.11AppointmentofcertifiedpublicaccountantsTheCompanyengagesanaccountingfirmthatcomplieswiththeprovisionsoftheSecuritiesLawtoconductbusinesssuchasauditingfinancialstatements,verifyingnetassetsandprovidingotherrelatedconsultingservices.Thetermofemploymentisoneyearandcanberenewed.TheproposalfortheCompanytohireanaccountingfirmisputforwardbytheboardofdirectorsandapprovedbytheshareholders'meetingthroughvoting.Theauditfeesofaccountingfirmsaredeterminedbytheshareholders'meeting.Theboardofdirectorsshallnotappointanaccountingfirmbeforetheshareholders'meetingmakesadecision.TheCompanyguaranteestoprovidethehiredaccountingfirmwithtrueandcompleteaccountingvouchers,accountingbooks,financialaccountingreportsandotheraccountingmaterials,andshallnotrefuse,concealormisreportthem.ThedecisiononwhetheraCompanydismissesornolongerrehiresanaccountingfirmshallbemadebytheshareholders'meeting.WhenaCompanydismissesornolongerrehiresanaccountingfirm,itshallnotifytheaccountingfirm30daysinadvance.Theaccountingfirmhastherighttopresentitsopinionstotheshareholders'meeting.Whenanaccountingfirmtensesaresignation,itshallexplaintotheshareholders'meetingwhethertheCompanyhasengagedinanyimpropercircumstances.Chapter11ProfitsDistributionArticle11.1PayingTaxesinaccordancewiththeLawsTheCompanyshallimplementtherelevanttaxationsystemoftheState,shallpaytaxestothegovernmentinaccordancewiththelawsandtoaccepttheexaminationandsupervisionofthefinancialandtaxationauthoritiesoftheState.Article11.2DistributionofAfter-taxProfitsTheCompany'sannualafter-taxprofitsshallbedistributedaccordingtothefollowingorderandratio:

1.foroffsettingthelossesofthepreviousyear;

2.10percentallocationtothestatutorysurpluscommonreserve;

3.allocationtodiscretionarysurpluscommonreserve;

4.paymentofdividends.Thedistributionratiooftheafter-taxprofitsshallberecommendedbytheBoardofDirectorsinaccordancewiththeCompany'sbusinesssituationforthecurrentyearandshallbesubmittedtotheshareholdersingeneralmeetingforexaminationandapproval.ItshallnotbedrawnanymoreincasetheCompany’saccumulatedlegalreserveexceeds50%ofitsregisteredcapital.TheCompany’safter-taxprofitafteranylossismadeandthereserveisdrawnshouldbedistributedaccordingtotheshareholdingoftheshareholders,exceptthattheprofitcannotbedistributedaccordingtotheshareholdingasspecifiedintheArticlesofAssociation.Iftheshareholdersgeneralmeetingbreakstheaboveregulationanddistributesprofittotheshareholdersbeforemakingupthelossanddrawingthelegalpublicreserve,theshareholdersmustreturntotheCompanytheprofitdistributedbybreakingtheregulations.

ThesharesheldbytheCompanyitselfhasnothingwiththeprofitdistribution.Iftheshareholdersgeneralmeetingadoptsresolutionsontheprofitdistributionplan,theboardofdirectorsoftheCompanyshallfinishthedistributionofdividend(orshare)withintwomonthsaftertheshareholdersgeneralmeeting.PlantorepaytheshareholdersoftheCompany:

TheCompanyemphasizesratioalinvestmentreturnofshareholdersandconsidersconcurrentlythesustainabledevelopmentoftheCompany.TheCompanyimplementsapositiveprofitdistributionpolicyandmaintainsitscontinuityandstability.Inprinciple,theCompanydistributesdividendsonceeachyearanddoesthisbycashinpriority.TheCompanywillstrivetodistributedividendsincashataproportionexceedingtheminimumproportionasregulatedbytheArticlesofAssociationoftheCompany.Profitdistributiondecision-makingprocedureandmechanismofCompany:

Indrawinguptheprofitdistributionpreplaneachyear,theCompanyshouldconsidercomprehensivelysuchfactorsasthecharacteristicsoftheindustryitisin,developmentstage,selfoperationmode,profitlevel,cashflowpositionandimportantfunddisbursementarrangement,etc.Theaboveprofitdistributionpreplancanbesubmittedtothegeneralshareholdermeetingforreviewsubjecttoagreementbymorethanhalfofalldirectorsandindependentdirectorsexpressingtheirexplicitopinionsonthis.WhentheBoardofDirectorsoftheCompanyreviewstheaboveprofitdistributionpreplan,itshouldcarefullystudyanddemonstratesuchmattersasCompanycashdividenddistributionopportunity,conditionandminimumproportion,etc.WhentheCompanyreviewstheaboveprofitdistributionpreplanbyholdingageneralshareholdersmeeting,itshouldcommunicateandexchangewithshareholders,especiallymediumandsmallshareholdersonitsowninitiativethroughmultiplechannels,sufficientlylistentothecommentsandappealsofmediumandsmallshareholdersandreplyquestionsthatmediumandsmallshareholderconcernabout.Condition,decision-makingprocedureandmechanismforCompanytoadjustprofitdistributionpolicy:

IncaseofanyforcemajeureorasubstantialchangeintheexternaloperatingenvironmentorselfoperationconditionoftheCompany,theCompanymayadjusttheprofitdistributionpolicy.TheBoardofDirectorsoftheCompanyisunderwayofstudyinganddemonstratingtheprofitdistributionpolicy.Itshouldconsidersufficientlytheopinionsofmediumandsmallshareholders;afteradjustment,theprofitdistributionpolicyshouldnotviolaterelatedregulationsofChinaSecuritiesRegulatoryCommissionandthesecuritiesexchange.Anadjustedprofitdistributionpolicycanbesubmittedtothegeneralshareholdersmeetingforreviewonlysubjecttoagreementbymorethanhalfofalldirectorsmakingexplicitcomments.Whenthegeneralshareholdersmeetingreviewsanadjustedprofitdistributionpolicy,thevotingmethodshouldmeetrelatedregulationsofChinaSecuritiesRegulatoryCommissionandthesecuritiesexchangeandbepassedbyover2/3ofvotingrightsheldbytheattendingshareholders(includingshareholder’srepresentatives).

Article11.3DividendsInprinciple,theCompanydistributesdividendsonceayear,accordingtotheshares,aftertheCompany'sfinalaccountsattheendoftheyear,exceptforthespecialresolutionofthegeneralmeetingofshareholders.Ordinarysharesdonotpayafixeddividend.Dividenddistributionsmaytakethefollowingforms,individuallyorincombination:

1.Cash:CashdividendsshallbedeclaredinRenminbi.DividendsinrespectofdomesticsharesshallbepaidinRenminbiwhereasdividendsinrespectofforeigninvestmentsharesshallbepaidinHongKongDollars.TheexchangerateofRenminbitoHongKongDollarsshallbereferredtothemedianexchangerateasquotedbythePeople'sBankofChinaonthefirstbusinessdayafterthedateofthegeneralmeeting.

2.Shares:Shareholdersmayreceiveproportionalbonussharesforthetypesofsharestheyholdinaccordancewiththelaws.WhentheCompanydistributessharedividends,itshalladoptcashdividenddistributionmethodinpriority.TheCompanymay,undertheprerequisiteofmeetingcashdividenddistributionproportionrequirement,distributeprofitsbypresentingbonusshares.Whenmakingprofitdistributionwithbonusshares,suchtrueandreasonablefactorsasCompanygrowth,dilutionofnetassetvaluepershare,etc.shouldbeavailable.WhentheCompanymakesprofitdistribution,theminimumproportionofcashdividenddistributionaccountingforthisprofitdistributionshouldreach20%.TheamountofdividendincashdistributedannuallybytheCompanyshallnotbelessthan10%ofthenetprofitoftheCompanyinthatyear,ortheaccumulatedamountofdividendincashinthepastthreeyearsshallnotbelessthan30%oftheannualnetprofitontheaveragemadeinthepastthreeyears.Article11.4IncomeTaxforDividendsWhendistributingdividendsandbonuses,theCompanyshallwithholdandpayonbehalfoftheshareholderstaxespayableondividendsinaccordancewiththelaws.Afterpaymentoftax,thedividendsandotherentitlementsarisingfromtheforeigninvestmentsharesmayberemittedabroad.Article11.5NoticeofDistributionofDividendsTheCompanyshallinformshareholdersofdistributionofdividendsbypublishingannouncementsinthenewspapersspecifiedinChapter14oftheArticlesofAssociation.Chapter12MergerandDivisionArticle12.1mergerofCompanyCompanymergerscantaketheformofabsorptionmergersornewestablishmentmergers.WhenaCompanyabsorbsanotherCompany,itiscalledanabsorptionmerger,andtheabsorbedCompanyisdissolved.WhentwoormorecompaniesmergetoformanewCompany,itiscalledanewlyestablishedmerger,andthemergingpartiesshalldissolve.WherethepricepaidbyaCompanyinamergerdoesnotexceed10%oftheCompany'snetassets,itmaynotbesubjecttoaresolutionoftheshareholders'meeting,exceptasotherwiseprovidedinthesearticlesofassociation.WhereaCompanyundergoesamergerinaccordancewiththeprovisionsofthe

precedingparagraphwithouttheresolutionoftheshareholders'meeting,itshallbesubjecttotheresolutionoftheboardofdirectors.Themergerofcompaniesshallbesubjecttothesigningofamergeragreementbythemergingpartiesandthepreparationofabalancesheetandalistofassets.TheCompanyshallnotifyitscreditorswithintendaysfromthedateofmakingtheresolutiononmergerandmakeanannouncementinthenewspapersasstipulatedinChapter14ofthesearticlesofAssociationorontheNationalEnterpriseCreditInformationPublicitySystemwithinthirtydays.Creditorsmay,within30daysfromthedateofreceivingthenoticeorwithin45daysfromthedateoftheannouncementiftheyhavenotreceivedthenotice,demandthattheCompanysettleitsdebtsorprovidecorrespondingguarantees.Whencompaniesmerge,thedebtsandcreditsofthemergingpartiesshallbeassumedbythesurvivingCompanyafterthemergerorthenewlyestablishedCompany.Article12.2separationofaCompanyWhenaCompanyisdivided,itspropertyshouldbedividedaccordingly.WhenaCompanyundergoesasplit,itwillprepareabalancesheetandalistofassets.TheCompanyshallnotifyitscreditorswithintendaysfromthedateofmakingtheresolutionondivisionandmakeanannouncementinthenewspapersasstipulatedinChapter14ofthesearticlesofAssociationorontheNationalEnterpriseCreditInformationPublicitySystemwithinthirtydays.ThedebtsofaCompanybeforeitsdivisionshallbebornebytheCompanyafterthedivisioninaccordancewiththeagreementreached.However,thisdoesnotapplyiftheCompanyhasotherwiseagreedinawrittenagreementwithitscreditorsregardingthesettlementofdebtsbeforethedivision.Article12.3RegistrationofChangeWhereaCompanyundergoesamergerordivisionandtheregistereditemschange,itshall,inaccordancewiththelaw,handlethechangeregistrationwiththeCompanyregistrationauthority.WhenaCompanyisdissolved,itshallhandlethecancellationregistrationoftheCompanyinaccordancewiththelaw.WhereanewCompanyisestablished,theCompanyestablishmentregistrationshallbehandledinaccordancewiththelaw.WhenaCompanyincreasesordecreasesitsregisteredcapital,itshall,inaccordancewiththelaw,handlethechangeregistrationwiththeCompanyregistrationauthority.Chapter13DissolutionandLiquidationArticle13.1ConditionsforDissolutionoftheCompanyTheCompanyshallbedissolvedandliquidatedontheoccurrenceofoneofthefollowingevents:

1.Thebusinesstermstipulatedinthesearticlesofassociationexpiresoranyotherdissolutioncausestipulatedinthesearticlesofassociationoccurs;

2.Seriouslyviolatingnationallawsandregulationsandendangeringpublicinterests,andbeinglawfullyorderedtosuspendbusinessoperations;

3.Theshareholders'meetingresolvestodissolve.

4.DissolutionisrequiredduetoCompanymergerordivision;

5.IftheCompany'soperationandmanagementencounterseriousdifficultiesanditscontinuedexistencewouldcausesignificantlossestotheshareholders'interests,andtheissuecannotberesolvedthroughothermeans,shareholdersholdingmorethan10%ofthe

Company'svotingrightsmayrequestthepeople'scourttodissolvetheCompany.IfaCompanyencountersthedissolutioncauseasprescribedintheprecedingparagraph,itshall,withintendays,publicizethedissolutioncausethroughtheNationalEnterpriseCreditInformationPublicitySystem.WhereaCompanyhasthecircumstancesasstipulatedinItems1and2ofArticle13.1ofthesearticlesofAssociationandhasnotyetdistributeditspropertytoshareholders,itmaycontinuetoexistbyamendingthesearticlesofassociationorbyresolutionoftheshareholders'meeting.Whereanyamendmenttothesearticlesofassociationoraresolutionoftheshareholders'meetingismadeinaccordancewiththeprovisionsoftheprecedingparagraph,itshallbeapprovedbymorethantwo-thirdsofthevotingrightsheldbytheshareholderspresentattheshareholders'meeting.Article13.2LiquidationafterDissolutionWhereaCompanyisdissolvedinaccordancewiththeprovisionsofItems1,2,4and5ofArticle13.1oftheseArticlesofAssociation,itshallbeliquidated.DirectorsaretheliquidationobligorsoftheCompanyandshallformaliquidationgrouptocarryoutliquidationwithinfifteendaysfromthedatewhenthecausefordissolutionoccurs.Theliquidationgroupshallbecomposedofdirectors,exceptasotherwiseprovidedinthesearticlesofassociationorasresolvedbytheshareholders'meetingtoelectothers.IftheliquidationobligorfailstoperformtheliquidationobligationinatimelymannerandcauseslossestotheCompanyorcreditors,itshallbeartheliabilityforcompensation.Article13.3ProhibitionofNewBusinessActivitiesDuringtheliquidationperiod,theCompanycontinuestoexistbutshallnotengageinanybusinessactivitiesunrelatedtotheliquidation.Article13.4NoticeofandApplicationforLiquidationAftertheliquidationgroupoftheCompanyisestablished,itshallnotifythecreditorswithintendaysandmakeanannouncementwithinsixtydaysinaccordancewiththeprovisionsofChapter14ofthesearticlesofassociation.Creditorsshalldeclaretheirclaimstotheliquidationgroupwithin30daysfromthedateofreceivingthenotice,orwithin45daysfromthedateoftheannouncementiftheyhavenotreceivedthenotice.Creditorsshalldeclaretheirclaimstotheliquidationgroupwithinthetimelimitprescribedabove.Whencreditorsdeclaretheirclaims,theyshallexplaintherelevantmattersoftheclaimsandprovidesupportingmaterials.Theliquidationgroupshallregistertheclaims.Duringtheperiodfordeclaringclaims,theliquidationgroupshallnotmakeanypaymenttothecreditors.Article13.5DutiesandPowersofLiquidationCommitteeTheliquidationcommitteeshallhavethefollowingdutiesandpowers:

1.CleartheCompany'sassets,preparebalancesheetsandpropertylists;

2.Notifyandannouncecreditors;

3.HandletheunfinishedbusinessoftheCompanyrelatedtoliquidation;

4.Settlealloutstandingtaxesandtaxesincurredduringtheliquidationprocess;

5.Cleardebtsandcredits;

6.HandletheremainingassetsoftheCompanyafteritsdebtshavebeensettled;

7.RepresenttheCompanyincivillitigationactivities.Article13.6LimitationsontheDutiesandPowersoftheLiquidationCommittee

Membersoftheliquidationgroupshallperformtheirliquidationdutieswiththedutyofloyaltyanddiligence.IfmembersoftheliquidationgroupfailtoperformtheirliquidationdutiesinatimelymannerandcauselossestotheCompany,theyshallbeartheliabilityforcompensation.Wherelossesarecausedtocreditorsduetointentionalactsorgrossnegligence,thepartyconcernedshallbeartheliabilityforcompensation.AftertheliquidationgrouphasclearedtheCompany'sassets,preparedthebalancesheetandthelistofassets,itshallformulatealiquidationplanandsubmitittotheshareholders'meetingorthepeople'scourtforconfirmation.Aftertheliquidationiscompleted,theliquidationgroupshallpreparealiquidationreport,submitittotheshareholders'meetingorthepeople'scourtforconfirmation,andsubmitittotheCompanyregistrationauthoritytoapplyforthecancellationoftheCompany'sregistration..Article13.7InsolvencyDeclarationAftertheliquidationgrouphasclearedtheCompany'sassets,preparedthebalancesheetandthelistofassets,ifitdeemsthattheCompany'sassetsareinsufficienttosettleitsdebts,itshallapplytothepeople'scourtforbankruptcyliquidationinaccordancewiththelaw.Afterthepeople'scourtacceptsabankruptcyapplication,theliquidationgroupshalltransfertheliquidationaffairstothebankruptcyadministratordesignatedbythepeople'scourt.Article13.8OrderofPaymentAftertheCompany'sassetshavebeenusedtopayliquidationexpenses,employees'wages,socialinsurancepremiumsandstatutorycompensation,andtosettleoutstandingtaxesandCompanydebts,theremainingassetsshallbedistributedbytheCompanyinproportiontothesharesheldbytheshareholders.TheCompany'sassetswillnotbedistributedtoshareholdersuntiltheyaresettledinaccordancewiththeprovisionsoftheprecedingparagraph.Article13.9CancellationofRegistrationUponcompletionofliquidation,theliquidationcommitteeshallpresentaliquidationreportandshallprepareastatementofincomeandexpenditureandvariousfinancialaccountbooksfortheliquidationperiod.Uponcertificationbyanaccountingfirmandapprovalbyshareholdersingeneralmeetingandtherelevantgovernmentdepartmentincharge,theliquidationcommitteeshalllodgeanapplicationwiththeregistrationauthorityforcancellationofregistrationwithin30daysfromthegrantingoftheapprovalandshallcanceltheCompany'sregistrationatthetaxationauthority,payalloutstandingtaxes,canceltaxpaymentinvoicesandrelevantpapersissuedbythetaxationauthority,andannouncethewinding-upoftheCompany.Chapter14NoticesandannouncementsArticle14.1NotificationTheCompany'snoticeissentoutinthefollowingform:byadesignatedperson;Senditbyemail;Itwillbeconductedthroughanannouncement.OtherformsasstipulatedintheCompany'sarticlesofassociation.

ThenoticeissuedbytheCompany,ifmadeintheformofanannouncement,shallbedeemedthatallrelevantpersonnelhavereceivedthenoticeonceitisannounced.Themeetingnoticeoftheshareholders'meetingconvenedbytheCompanyshallbeconductedinaccordancewithArticle5.6ofthesearticlesofassociation.ThemeetingnoticeoftheCompany'sboardofdirectorsshallbeheldinaccordancewithArticle6.6ofthesearticlesofassociation.Article14.2ModeofAnnouncementTheCompanydesignatesChinaSecuritiesJournalandSecuritiesTimesasnewspapersandperiodicalsforpublishingCompanyannouncementsandotherrequiredinformationdisclosure.TheCompany'sdesignatedinformationdisclosurewebsiteis:http://www.cninfo.com.cnArticle14.3JointLiabilitiesTheBoardofDirectorsshallwarrantthatallinformationanddocumentsdisclosedtothepublicistrueanddonotcontainanystatementswhichareseverelymisleadingorhaveimportantomission.AllthemembersoftheBoardofDirectorsshallbejointlyresponsibleforthis.Article14.4ManagementofRelationshipwithInvestorsTheCompanyshallestablishandperfecttheworksystemforinvestors’relationshipmanagementandshallstrengthenactivelycommunicationsandexchangeswithshareholders,especiallythesocialpublicones,inmultipleways.ThesecretaryoftheBoardofDirectorsoftheCompanyshallberesponsibleconcretelyfortheworkofinvestor’srelationshipmanagement.Chapter15AmendmentoftheArticlesofAssociationArticle15.1AmendmenttotheArticlesofAssociationTheCompanymayamendtheArticlesofAssociationasrequiredbychangesintherelevantlawsandregulationsandtheactualsituationoftheCompany.AnyamendmenttotheArticlesofAssociationshallbemadeinaccordancewiththeproceduresprescribedherein.Article15.2ProceduresforAmendmentsWheretheamendmenttothearticlesofassociationpassedbytheshareholders'meetingresolutionissubjecttotheapprovalofthecompetentauthority,itshallbereportedtothecompetentauthorityforapproval.WheretheregistrationmattersofaCompanyareinvolved,thechangeregistrationshallbehandledinaccordancewiththelaw.Theboardofdirectors,inaccordancewiththeresolutionoftheshareholders'meetingtoamendthearticlesofassociationandtherelevantsupervisorsTheapprovalopinionoftheauthorityamendsthischarter.Article15.3InspectionandFilingAfterthearticlesofassociationofaCompanyarerevised,theCompany'slegaldomicileshallbekeptforshareholderstoreview.Ifthemattersofthearticlesofassociationrevisionfallundertheinformationrequiredtobedisclosedbylawsandregulations,theyshallbeannouncedinaccordancewiththeregulations.Chapter16SupplementaryProvisions

Article16.1paraphrase

(1)Acontrollingshareholderreferstoashareholderwhosesharesaccountformorethan50%ofthetotalsharecapitalofajointstocklimitedCompany.Orshareholderswhoseshareholdingratiodoesnotexceed50%,butthevotingrightsofthesharestheyholdaresufficienttohaveasignificantimpactontheresolutionsoftheshareholders'meeting.

(2)Theactualcontrollerreferstoanaturalperson,legalpersonorotherorganizationthatcanactuallycontroltheCompany'sbehaviorthroughinvestmentrelationships,agreementsorotherarrangements.

(3)Related-partyrelationshipreferstotherelationshipbetweenthecontrollingshareholder,actualcontroller,director,seniormanagementpersonnelofaCompanyandtheenterprisestheydirectlyorindirectlycontrol,aswellasotherrelationshipsthatmayleadtothetransferoftheCompany'sinterests.However,state-controlledenterprisesdonothaveanaffiliatedrelationshipmerelybecausetheyareallcontrolledbythestate.Article16.2PartsofArticlesofAssociationAllsupplementaryresolutions,articlesofassociationanddetailsrelatingtotheArticlesofAssociationpassedbytheshareholdersingeneralmeetingoftheCompanyshallbeintegralpartsoftheArticlesofAssociation.Article16.3SettlementofMattersNotCoveredTheannexestothischarterincludetherulesofprocedureforshareholders'meetingsandtherulesofprocedurefortheboardofdirectors.Theboardofdirectorsmay,inaccordancewiththeprovisionsofthearticlesofassociation,formulatedetailedarticlesofassociation.Thearticlesofassociationmustnotconflictwiththeprovisionsofthearticlesofassociation.Article16.4OtherRulesandSystemsAllrulesandsystemsadoptedbytheCompanywhichareinconsistentwiththeArticlesofAssociationshallallbeinvalid.Article16.5PowerofInterpretationoftheArticlesofAssociationTheBoardofDirectorsmayinterprettheprovisionsoftheArticlesofAssociationbutthepowerofamendmentshallbevestedintheshareholdersingeneralmeetings.DisputesshallbedealtwithinaccordancewiththeproceduresprescribedintheArticlesofAssociation.Article16.6EffectofFiguresTheterms"above","before","atleast",and"within"asmentionedintheArticlesofAssociationshallbeconstruedasinclusiveofthefigureitself.Article16.7TakingEffectTheArticlesofAssociationhavebeenpassedbytheshareholdersingeneralmeeting.Article16.7ArbitrationandApplicableLawsRegardingdisputesorclaimsofrightsrelatedtotheCompany'saffairsarisingbetweenshareholdersofforeigncapitalshareslisteddomesticallyandtheCompany,betweenshareholdersofforeigncapitalshareslisteddomesticallyandtheCompany'sdirectorsandseniormanagementpersonnel,andbetweenshareholdersofforeigncapitalshareslisteddomesticallyandshareholdersofRMBordinarysharesbasedontherightsandobligationsstipulatedintheCompany'sarticlesofassociationandrelevantlawsandregulations,Exceptformattersthatareexplicitlystipulatedbylawtobesubjecttolitigationinthepeople'scourt,theyshallbesettledthrougharbitrationattheChinaInternationalEconomicandTradeArbitrationCommissioninaccordancewiththe

arbitrationrulesofthatinstitution.AnydisputesconcerningtheArticlesofAssociationshallbegovernedbylawsofPRC.