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| CHAPTER      1  | GENERAL      PROVISIONS                                                                                                              |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                                                 |
| CHAPTER      2  | OBJECTIVES      AND SCOPE OF BUSINESS                                                                                                |
|            |                                                                                                                                 |
| CHAPTER      3  | SHARES      AND REGISTERED CAPITAL                                                                                                   |
|            |                                                                                                                                 |
| CHAPTER      4  | INCREASE      AND DECREASE IN CAPITAL AND REPURCHASE OF SHARES                                                                       |
|            |                                                                                                                                 |
| CHAPTER      5  | FINANCIAL      ASSISTANCE FOR ACQUISITION OF COMPANY SHARES                                                                          |
|            |                                                                                                                                 |
| CHAPTER      6  | SHARE      TRANSFER                                                                                                                  |
|            |                                                                                                                                 |
| CHAPTER      7  | SHARE      CERTIFICATES AND REGISTER OF SHAREHOLDERS                                                                                 |
|            |                                                                                                                                 |
| CHAPTER      8  | SHAREHOLDERS’      RIGHTS AND OBLIGATIONS                                                                                      |
|            |                                                                                                                                 |
| CHAPTER      9  | SHAREHOLDERS’      GENERAL MEETINGS                                                                                            |
|            |                                                                                                                                 |
| CHAPTER      10 | SPECIAL      PROCEDURES FOR VOTING BY A CLASS OF SHAREHOLDERS                                                                        |
|            |                                                                                                                                 |
| CHAPTER      11 | BOARD      OF DIRECTORS                                                                                                              |
|            |                                                                                                                                 |
| CHAPTER      12 | SECRETARY      TO THE BOARD OF DIRECTORS OF THE COMPANY                                                                              |
|            |                                                                                                                                 |
| CHAPTER      13 | PRESIDENT      OF THE COMPANY                                                                                                        |
|            |                                                                                                                                 |
| CHAPTER      14 | SUPERVISORY      COMMITTEE                                                                                                           |
|            |                                                                                                                                 |
| CHAPTER      15 | QUALIFICATIONS      AND DUTIES OF THE DIRECTORS, SUPERVISORS, PRESIDENT AND OTHER SENIOR      ADMINISTRATIVE OFFICERS OF THE COMPANY |
|            |                                                                                                                                 |
| CHAPTER      16 | FINANCIAL      AND ACCOUNTING SYSTEMS, PROFIT DISTRIBUTION AND  AUDITING                                                             |

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| CHAPTER      17 | APPOINTMENT      OF ACCOUNTANT FIRM                                                                               |
|-----------------|-------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                              |
| CHAPTER      18 | CAPITAL      FLOW BETWEEN THE COMPANY AND ITS RELATED PARTIES AND EXTERNAL GUARANTEE      PROVIDED BY THE COMPANY |
|            |                                                                                                              |
| CHAPTER      19 | INSURANCE                                                                                                         |
|            |                                                                                                              |
| CHAPTER      20 | LABOUR      AND PERSONNEL MANAGEMENT SYSTEMS                                                                      |
|            |                                                                                                              |
| CHAPTER      21 | TRADE      UNION                                                                                                  |
|            |                                                                                                              |
| CHAPTER      22 | MERGER      AND DIVISION OF THE COMPANY                                                                           |
|            |                                                                                                              |
| CHAPTER      23 | DISSOLUTION      AND LIQUIDATION OF THE COMPANY                                                                   |
|            |                                                                                                              |
| CHAPTER      24 | PROCEDURES      FOR AMENDMENTS TO THE ARTICLES OF ASSOCIATION                                                     |
|            |                                                                                                              |
| CHAPTER      25 | SETTLEMENT      OF DISPUTES                                                                                       |
|            |                                                                                                              |
| CHAPTER      26 | NOTICES                                                                                                           |
|            |                                                                                                              |
| CHAPTER      27 | INTERPRETATION      AND DEFINITION OF THESE ARTICLES OFASSOCIATION                                                |

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| Article      1 | These      Articles of Association are formulated in accordance with “The Company Law      of the People’s Republic of China” (hereinafter referred to as the      “Company Law”), “The Securities Law of the People’s Republic of China”      (hereinafter referred to as the “Securities Law”) and other relevant      provisions, with an aim to protect the legitimate rights and interests of      the Company and its shareholders and creditors, and to standardize the      organization and activities of theCompany. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article2 | The      Company is a joint stock limited company established in accordance with      the Company Law, “State Council’s Special Regulations Regarding the Issue      of Shares Overseas and the Listing of Shares Overseas by Joint Stock      Limited Companies” (hereinafter referred to as the “Special Regulations”)      and other relevant laws and administrative regulations of the State. The      legitimate rights and interests of the Company and its shareholders are      under the jurisdiction of and protected by the PRC laws, regulations and      other relevant provisions of theGovernment. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article3 | Under      the approval from the Securities Committee of the State Council Zhen Wei      Fa 【1997】 No. 33, the      Company was listed on the Stock Exchange of Hong Kong Limited and New York      Stock Exchange respectively in July 1997 with an issuance of a total of      1,174,178,000 H shares. The Company’s proposal for issuing 1,000,000,000 A      shares with a par value of RMB1.00 each was passed at the extraordinary      general meeting held on 21 May 2002, and approved by the document (2003)      No. 70 issued by the China Securities Regulatory Commission in 2003. In      July 2003, 1,000,000,000 A shares of the Company’s with a par value of      RMB1.00 each were successfully issued and listed on Shanghai Stock      Exchange. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article4 | The      registered name of the Company: |
|----------|------------------------------------------|

| Article5 | Address      of the Company: Guangzhou Economic & Technology      Development |
|----------|-----------------------------------------------------------------------------------|

| Article6 | The      chairman of the Board of Directors of the Company shall be the legal      representative of the Company. |
|----------|-------------------------------------------------------------------------------------------------------------------|

| Article7 | The      registered capital of the Company is  RMB6,561,267,000. |
|----------|------------------------------------------------------------------|

| Article8 | The      Company is a perpetual joint stock limited  company. |
|----------|---------------------------------------------------------------|

| Article9 | The      Company may amend its Articles of Association pursuant to the Company Law,      the Special Regulations, “Mandatory Provisions for Articles of Association      of Companies to be Listed Overseas” (hereinafter referred to as the      “Mandatory Provisions”), “Mandatory Provisions for Articles of Association      of Listed Companies” and other relevant laws and administrative      regulations of the PRC. |
|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    10 | The      entire assets of the Company is divided into equal shares. The rights and      obligations in respect of the Company enjoyed and assumed by shareholders      of the Company shall be limited to the extent of the amount payable on      subscription of shares held by them. The Company shall be liable to its      creditors to the extent of all of itsassets. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    11 | These      Articles of Association became effective on the date of establishment of      the Company. The registration formalities of the Original Articles of      Association with China’s State Administration Bureau of Industry and      Commerce have been completed. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    12 | From      the date of these Articles of Association becoming effective, these      Articles of Association constitute a legally binding document regulating      the Company’s organization and activities, and the rights and obligations      between the Company and each shareholder and among the      shareholders. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    13 | These      Articles of Association are binding on the Company and its shareholders,      directors, supervisors, president and other senior administrative officers      of the Company; all of whom are entitled to claim rights concerning the      affairs of the Company in accordance with these Articles of      Association. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    14 | The      Company may invest in other limited liability companies or joint stock      limited companies. The Company’s liabilities to an investee company shall      be limited to the amount of its capital contribution to the investee      company. Unless otherwise provided by laws, the Company shall not become      an investor that assumes joint guarantee liability of the debt of any      investee company. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    15 | On      condition of compliance with the applicable laws and regulations of the      PRC, the Company has the power to raise and borrow money, which power      includes but not limited to the issue of debentures, the charging or      mortgage of part or whole of the Company’s business or properties and      other rights permitted by the PRC laws and administrative      regulations. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    16 | For      the purpose of these Articles of Association, other senior administrative      officers of the Company refer to vice president, chief financial officer,      the board secretary, general economist, chief engineer, chief pilot, and      general legal counsel and chief information  officer. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    17 | The      business objectives of the Company are: (I) to absorb domestic and foreign      capital; (II) to assist in developing the aviation industry of China;      (III) to promote the development of the national economy of China; (IV) to      utilize corporate incentive mechanisms of privatization; (V) to draw on      the advanced management expertise of other domestic and foreign companies;      (VI) to continuously improve the management of the Company; (VII) to      enhance the market competitiveness of the Company; (VIII) to generate      economic and social benefits for the Company; and (IX) to generate steady      income for the Company’sshareholders. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    18 | The      scope of business of the Company includes: (I) provision of scheduled and      non-scheduled domestic, regional and international air transportation      services for passengers, cargo, mail and luggage; (II) undertaking general      aviation services; (III) provision of aircraft repair and maintenance      services; (IV) acting as agent for other domestic and international      airlines; (V) provision of air catering services; (VI) provision of hotel      business; (VII) acting as sale agent for aircraft leasing and aviation      accident insurance; and (VIII) engaging in other airline or      airline-related business, including advertising for such services.      (subject to approved of State Administration of Industry and      Commerce). |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    19 | The      Company may, according to its ability of development, and upon the      approval by special resolution adopted by the shareholders’ general      meeting and by the relevant state government authority, adjust its scope      of business or investment orientation and method,  etc. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    20 | The      Company may, upon the approval by the relevant authorities, establish its      subsidiaries, branches and offices (whether wholly owned or otherwise) in      China and other countries or regions to cope with its business development      and to promote the Company’sexpansion. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    21 | The      shares of the Company are evidenced by share  certificates. |
|---------------|----------------------------------------------------------------------|

| Article    22 | There      must at all times be ordinary shares in the Company. Subject to the      approval from the companies approving department authorized by the State      Council, the Company may create other classes of shares according to its      requirements. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    23 | The      shares of the Company are issued on an open, fair and equitable basis.      Shares of the same class shall rank pari passu in all respects among each      other. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    24 | The      shares issued by the Company shall have a par value of RMB1 per share. The      RMB referred to in the preceding paragraph is the legal currency of the      PRC. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    25 | The      shares issued by the Company are centrally maintained in share      registratrar located where the shares are listed according to the specific      class of the shares. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    26 | Subject      to the approval from the securities authority of the State Council, the      Company may issue and offer shares to domestic investors or foreign      investors for subscription. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    27 | Shares      issued by the Company to domestic investors for subscription in RMB shall      be referred to as “Domestic Shares”. Shares issued by the Company to      foreign investors for subscription in foreign currencies shall be referred      to as “Foreign Shares”. Foreign Shares which are listed overseas are      called “Overseas Listed ForeignShares”. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    28 | Domestic      Shares issued by the Company shall be called “A Shares”. Overseas Listed      Foreign Shares issued by the Company and listed in Hong Kong shall be      called “H Shares”. H Shares are shares which have been admitted for      listing on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”),      the par value of which is denominated in RMB and which are subscribed for      and traded in Hong Kong dollars. H Shares can also be listed on a stock      exchange in the United States of America in the form of American      depositary receipts. Shares issued by the Company, including Domestic      Shares and Foreign Shares, are all ordinary  shares. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    29 | In      accordance with the approval granted by the competent securities authority      of the State Council, the Company has issued a total of 4,374,178,000      ordinary shares, of which (a) 2,200,000,000 A Shares (state shares) were      issued upon the establishment of the Company and were all subscribed for      by the promoter of the Company; (b) 1,174,178,000 H Shares were issued to      foreign investors in connection with the first increase of capital of the      Company, including shares issued pursuant to the exercise of the      over-allotment option and (c) 1,000,000,000 A Shares (public shares) were      issued to domestic investors in connection with the second increase of      capital of the Company. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      Company has also issued additional shares to the shareholders by passing      the  proposed bonus share issue by conversion of capital      reserve. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    30 | Upon      approval by the securities governing authority of the State Council of the      proposal to issue Overseas Listed Foreign Shares and Domestic Shares, the      Company’s Board of Directors may make separate implementing arrangements      for their issuance. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    31 | In      respect of the total number of shares as stated in a shares issuing      proposal, where the Company shall separately issue Overseas Listed Foreign      Shares and Domestic Shares, these respective shares shall be fully      subscribed for at their respective offerings. If the shares cannot be      fully subscribed for at their offerings due to some special circumstances,      then subject to the approval from the securities governing authority of      the State Council the shares may be issued by  installments. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    32 | The      Company and its subsidiaries (including the affiliated companies of the      Company) shall not provide any financial assistance in the forms of gift,      advance, guarantee, compensation or loan to a person who is acquiring or      is proposing to acquire shares in theCompany. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    33 | Unless      otherwise provided by laws and administrative regulations, shares in the      Company are freely transferable and are not subject to any      lien. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    34 | Subject      to the relevant laws and regulations and these Articles of Association and      the passing of separate resolutions at the shareholders’ general meeting,      the Company may increase its capital in the following ways to meet the      needs of operations and businessexpansion: |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Making      public offer to unspecific      investors; |
|--|-----------|-------------------------------------------------------------|

|  | (2)  | Making      non-public offer; |
|--|-----------|-------------------------------|

|  | (3)  | Distributing      new shares to existingshareholders; |
|--|-----------|-------------------------------------------------------|

|  | (4)  | Converting      the capital common reserve fund intocapital; |
|--|-----------|--------------------------------------------------------------|

|  | (5)  | Other      ways permitted by laws and administrative  regulations. |
|--|-----------|--------------------------------------------------------------------|

| Article    35 | The      Company may reduce its registered capital pursuant to the provisions of      these Articles of Association. Reduction of registered capital of the      Company shall be proceeded in accordance with the Company Law and other      relevant regulations as well as these Articles of    Association. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    36 | When      the Company reduces its registered capital, it must draw up a balance      sheet and an inventory of assets. |
|---------------|------------------------------------------------------------------------------------------------------------------------|

| Article    37 | The      Company may, in accordance with laws, administrative regulations,      departmental constitution documents and these Articles of Association and      subject to the approval of the relevant governing authority of the State,      repurchase its issued shares under the following      circumstances: |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Cancellation      of shares for the reduction of itscapital; |
|--|-----------|--------------------------------------------------------------|

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|  | (2)  | Merging      with another company that holds shares in the  Company; |
|--|-----------|----------------------------------------------------------------------|

|  | (3)  | The      Company awarding its employees with shares; |
|--|-----------|------------------------------------------------------|

|  | (4) | Where      the shareholders disagree on the resolutions passed by the shareholders’      general meeting on the merger or division of the Company so much that they      request the company to acquire theirshares; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | Other      circumstances permitted by laws and administrative      regulations. |
|--|-----|---------------------------------------------------------------------------------|

| Article    38 | The      Company may, with the approval of the relevant State governing authority      for repurchasing its shares, conduct the repurchase in one of the      following ways: |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Making      a pro rata general offer of repurchase to all its      shareholders; |
|--|-----------|----------------------------------------------------------------------------------|

|  | (2)  | Repurchase      through public dealing on a stockexchange; |
|--|-----------|------------------------------------------------------------|

|  | (3)  | Repurchase      by an off-market agreement outside a stock  exchange. |
|--|-----------|-----------------------------------------------------------------------|

| Article    39 | Where      the Company repurchases its shares by an off-market agreement outside a      stock exchange, the prior sanction of shareholders shall be obtained in      accordance with these Articles of Association. The Company may release or      vary a contract so entered into by the Company or waive its rights      thereunder with the prior approval of shareholders obtained in the same      manner. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    40 | Where      the Company repurchases its own shares due to reasons as set out in      clauses (1) to (3) of Article 37, it shall obtain the prior approval of      the shareholders by a resolution at a shareholders’ general meeting. After      the Company repurchases its shares pursuant to Article 37, the shares in      respect of the circumstances described in clause (1) shall be cancelled      within ten days from the day of purchase; and those in respect of the      circumstances described in clauses (2) and (4) shall be transferred or      cancelled within six months. The Company shall deduct the carrying amount      of the shares cancelled from its share capital, and shall process      registration of changing in registered capital with the original      registrar. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    41 | Unless      the Company is in the course of liquidation, it must comply with the      following provisions in relation to repurchase of its issued      shares: |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Where      the Company repurchases shares of the Company at par value, payment shall      be made out of book surplus distributable profits of the Company or out of      proceeds of a fresh issue of shares made for that  purpose; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Where      the Company repurchases shares of the Company at a premium to its par      value, payment up to the par value may be made out of the book surplus      distributable profits of the Company or out of the proceeds of a fresh      issue of shares made for that purpose. Payment of the portion in excess of      the par value shall be effected asfollows: |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | If      the shares being repurchased were issued at par value, payment shall be      made out of the book surplus distributable profits of the      Company; |
|--|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | If      the shares being repurchased were issued at a premium to its par value,      payment shall be made out of the book surplus distributable profits of the      Company or out of the proceeds of a fresh issue of shares made for that      purpose, provided that the amount paid out of the proceeds of the fresh      issue shall not exceed the aggregate of premiums received by the Company      on the issue of the shares repurchased or the current amount (including      the premiums on the fresh issue) of the Company’s premium account (or      capital common reserve fund account) at the time of the      repurchase; |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Payment      by the Company in consideration of the following shall be made out of the      Company’s distributableprofits: |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|  | 1.  | Acquisition      of rights to repurchase shares of theCompany; |
|--|----------|----------------------------------------------------------------|

|  | 2.  | Variation      of any contract to repurchase shares of the  Company; |
|--|----------|----------------------------------------------------------------------|

|  | 3. | Release      of any of the Company’s obligation under any contract to repurchase shares      of the Company; |
|--|----|--------------------------------------------------------------------------------------------------------------------|

|  | (4) | After      the Company’s registered capital has been reduced by the total par value      of the cancelled shares in accordance with the relevant provisions, the      amount deducted from the distributable      profits of the Company for paying up the par-value portion of the shares      repurchased shall be transferred to the Company’s premium account (or      capital common reserve fundaccount). |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    42 | The      Company and its subsidiaries shall not, by any means and at any time,      provide any kind of financial assistance to any person who is acquiring or      is proposing to acquire shares in the Company. The said acquirer of shares      of the Company includes a person who directly or indirectly incurs any      obligations due to the acquisition of shares in the Company (the      “obligor”). |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    43 | For      the purpose of this Chapter, “financial assistance” includes but not      limited to the following meanings: |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Gift; |
|--|-----------|-------|

|  | (2) | Guarantee      (including the assumption of liability or provision of assets by the      guarantor to secure the performance of obligations by the obligor), or      compensation (other than compensation in respect of the Company’s own      default) or release or waiver of anyrights; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Provision      of loan or conclusion of any other contract under which the obligations of      the Company are to be fulfilled before the obligations of another party,      or the novation of, or the assignment of rights arising under, such loan      or contract; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Any      other form of financial assistance given by the Company when the Company      is insolvent or has no net assets or when its net assets would thereby be      reduced to a material extent. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    44 | The      following activities shall not be deemed to be prohibited by Article 42 of      this chapter: |
|---------------|--------------------------------------------------------------------------------------------------------|

|  | (1) | The      provision of financial assistance by the Company where the financial      assistance is given in good faith in the interests of the Company, and the      principal purpose of giving the financial assistance is not for the      acquisition of shares in the Company, or the giving of the financial      assistance is an incidental part of some larger purpose of the      Company; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | The      lawful distribution of the Company’s assets by way of      dividend; |
|--|-----------|-------------------------------------------------------------------------------------|

|  | (3)  | The      allotment of bonus shares asdividends; |
|--|-----------|-------------------------------------------------|

|  | (4) | A      reduction of registered capital, a repurchase of shares of the Company or      a reorganization of the share capital structure of the Company effected in      accordance with these Articles ofAssociation; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The      lending of money by the Company within the scope and in the ordinary      course of its business, provided that the net assets of the Company are      not thereby reduced or that, to the extent that the assets are thereby      reduced, the financial assistance is provided out of the distributable      profits of the Company; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | The      provision of money by the Company for contributions to staff and workers’      shares schemes, provided that the net assets of the Company are not      thereby reduced or that, to the extent that the assets are thereby      reduced, the financial assistance is provided out of the distributable      profits of the Company. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    45 | The      Shares of the Company can be lawfully  transferred. |
|---------------|--------------------------------------------------------------|

| Article    46 | The      Company shall not accept the Company’s share certificates as the subject      of pledges. |
|---------------|----------------------------------------------------------------------------------------------------------|

| Article    47 | The      Company’s      directors,      supervisors,      president      and      other      senior      administrative officers shall periodically declare to the Company the      number of shares they hold in the Company during their term of office.      They may transfer their shares during the term of their office or after      their departure from office in accordance with the requirements of the      laws and the listing rules of the place of the stock exchange on which the      Company’s shares are listed. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    48 | Shares      of the Company held by the promoters shall not be transferred within one      year commencing from the establishment of the Company. Shares issued prior      to the public offer of shares of the Company shall not be transferred      within one year from the date when the shares were listed on a stock      exchange. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    49 | Share      certificates of the Company shall be in registered  form. |
|---------------|----------------------------------------------------------------------|

|  | (1)  | Name      of the Company; |
|--|-----------|---------------------------|

|  | (2)  | Date      of incorporation of the Company; |
|--|-----------|--------------------------------------------|

|  | (3)  | Class      of the shares, nominal value and number of shares    represented; |
|--|-----------|------------------------------------------------------------------------------|

|  | (4)  | Serial      number of the share certificate; |
|--|-----------|----------------------------------------------|

|  | (5)  | Other      items to be contained as required by the Company Law, the Special      Regulations; |
|--|-----------|------------------------------------------------------------------------------------------------|

|  | (6) | Other      items to be contained as required by the stock exchange on which the      shares of the Company arelisted. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------|

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| Article    50 | Share      certificates of the Company shall be signed by the Chairman of the      Company’s Board of Directors. Where the stock exchanges on which the      Company’s shares are listed require other senior administrative officer(s)      of the Company to sign on the share certificates, the share certificates      shall also be signed by such senior administrative officer(s). The share      certificates shall take effect after being sealed or printed with the seal      of the Company. The share certificates shall only be sealed with the      Company’s seal under the authorization of the Board of Directors. The      signatures of the Chairman of the Board of Directors or other senior      administrative officer(s) of the Company may be printed in mechanical      form. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    51 | The      Company shall keep a register of its shareholders and enter in the      register the following particulars: |
|---------------|----------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      name (title) and address (residence), the occupation or nature of each      shareholder; |
|--|-----|---------------------------------------------------------------------------------------------------|

|  | (2)  | The      class and quantity of shares held by each  shareholder; |
|--|-----------|------------------------------------------------------------------|

|  | (3)  | The      amount paid or payable on the shares of each  shareholder; |
|--|-----------|---------------------------------------------------------------------|

|  | (4)  | The      share certificate numbers of the shares held by each      shareholder; |
|--|-----------|---------------------------------------------------------------------------------|

|  | (5) | The      date on which each person was entered in the register as a      shareholder; |
|--|-----|---------------------------------------------------------------------------------------|

|  | (6)  | The      date on which any shareholder ceased to be a  shareholder. |
|--|-----------|---------------------------------------------------------------------|

| Article    52 | The      Company may, in accordance with the mutual understanding and agreements      between the securities governing authority of the State Council and      overseas securities regulatory      organisations,      maintain the register of shareholders of Overseas Listed Foreign Shares      overseas and appoint overseas agent(s) to manage such share register. The      original share register for holders of Overseas Listed Foreign Shares      listed in Hong Kong shall be maintained in Hong  Kong. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    53 | The      Company shall have a complete register of shareholders which shall      comprise the following: |
|---------------|----------------------------------------------------------------------------------------------------------|

|  | (1) | A      part of the shareholders’ register maintained at the Company’s address      other than those parts mentioned in clauses (2) and (3) of this      Article; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | A      part of the shareholders’ register in respect of the holders of Overseas      Listed Foreign Shares of the Company maintained in the place of the      overseas stock exchange on which the shares are listed;  and |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Any      other parts of the shareholders’ register maintained at such other places      as the Board of Directors may consider necessary for the purpose of      listing the shares of theCompany. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    54 | Different      parts of the shareholders’ register shall not overlap. No transfer of any      shares registered in any part of the register shall, during the      continuance of that registration, be registered in any other part of the      register. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | A      fee (for each instrument of transfer) of two dollars and fifty cents Hong      Kong dollars or any higher fee as agreed by the Stock Exchange has been      paid to the Company for registration of any instrument of transfer or      other document which is related to or will affect ownership of or change      of ownership of the shares; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | The      instrument of transfer only involves HShares; |
|--|-----------|--------------------------------------------------------|

|  | (3)  | The      stamp duty chargeable on the instrument of transfer has been      paid; |
|--|-----------|----------------------------------------------------------------------------------|

|  | (4) | The      relevant share certificate and upon the reasonable request of the Board of      Directors any evidence in relation to the right of the transferor to      transfer the shares have beensubmitted; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | If      it is intended to transfer the shares to joint owners, then the maximum      number of joint owners shall not exceedfour; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|  | (6)  | The      Company does not have any lien on the relevant  shares. |
|--|-----------|------------------------------------------------------------------|

----

| Article    55 | No      changes in the shareholders’ register due to the transfer of shares may be      made within thirty days before the date of a shareholders’ general meeting      or within five days before the record date for the Company’s distribution      of dividends. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    56 | Where      the Company decides to convene a shareholders’ general meeting, distribute      dividends, liquidate or carry out other activities which would require the      determination of shareholdings, the Board of Directors shall fix a record      date for the purpose of determining shareholdings. A person who is      registered in the register as shareholders of the Company at the end of      the record date shall be a shareholder of the  Company. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    57 | Any      person aggrieved and claiming to be entitled to have his name (title) to      be entered in or removed from the register of shareholders may apply to a      court of competent jurisdiction for rectification of the      register. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    58 | Any      person who is a registered shareholder or who claims to be entitled to      have his name (title) entered into the register of shareholders in respect      of shares in the Company may, if his share certificate (the “original      certificate”) relating to the shares is lost, apply to the Company for a      replacement new share certificate in respect of such shares (the “Relevant      Shares”). |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      applicant shall submit an application to the Company in a prescribed form      accompanied by a notarial certificate or a statutory declaration stating      the grounds upon which the application is made and the circumstances and      the evidence of the loss, and declaring that no other person is entitled      to have his name entered in the register of shareholders in respect of the      Relevant Shares. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Before      the Company decides to issue the replacement new share certificate, no      statement made by any person other than the applicant declaring that his      name shall be entered in the register of shareholders in respect of such      shares has been received. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (3) | The      Company shall, if it intends to issue a replacement new share certificate,      publish a notice of its intention at least once every thirty days in a      period of ninety consecutive days in such newspapers as may be prescribed      by the Board of Directors. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      Company shall have, prior to publication of its intention to issue a      replacement new share certificate, delivered to the stock exchange on      which its shares are listed a copy of the notice to be published, and may      publish the notice upon receiving confirmation from such stock exchange      that the notice has been exhibited in the premises of the said stock      exchange. Such notice shall be exhibited in the premises of the said stock      exchange for a period of ninetydays. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | If,      by the expiration of the 90-day period referred to in clauses (3) and (4)      of this Article, the Company have not received from any person notice of      any disagreement to such application, the Company may issue a replacement      new share certificate to the applicant  accordingly. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Where      the Company issues a replacement new share certificate under this Article,      it shall forthwith cancel the original share certificate and enter the      cancellation and issue in the register of shareholders      accordingly. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7) | All      expenses relating to the cancellation of an original share certificate and      the issue of a replacement new share certificate by the Company shall be      borne by the applicant and the Company is entitled to refuse to take any      action until reasonable security is provided by the    applicant. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    59 | Where      the Company issues a replacement new share certificate pursuant to these      Articles of Association, the name (title) of a bona fide purchaser gaining      possession of such new share certificate or the person who is subsequently      entered in the register of shareholders as holder of such shares (if he is      a bona fide purchaser) shall not be removed from the register of      shareholders. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    60 | The      Company shall not be liable for any damages sustained by any person by      reason of the cancellation of the original share certificate or the issue      of the new share certificate, unless the claimant proves that the Company      has acted deceitfully. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    61 | A      shareholder of the Company is a person who lawfully holds shares in the      Company and whose name (title) is entered in the register of shareholders.      A shareholder shall enjoy rights and bear obligations according to the      class and proportion of the shares held by him; shareholders who hold      shares of the same class shall enjoy the same rights and bear the same      obligations. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    62 | The      ordinary shareholders of the Company shall enjoy the following      rights: |
|---------------|--------------------------------------------------------------------------------------|

|  | (1) | The      right to request the convening and holding of and to attend or appoint a      proxy to attend shareholders’ general meetings and to vote      thereat; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      right to dividends and other distributions in proportion to the number of      shares held; |
|--|-----|------------------------------------------------------------------------------------------------------|

|  | (3) | The      right of supervisory management over the Company’s business operations,      and the right to present proposals orenquiries; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      right to transfer, donate or pledge his shares in accordance with laws,      administrative regulations and these Articles of    Association; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The      right of knowledge and decision making power with respect to important      matters      of      the      Company      in      accordance      with      laws,      administrative regulations and these Articles of    Association; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | The      right to obtain relevant information in accordance with the provisions of      these Articles of Association,including: |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | the      right to obtain a copy of these Articles of Association, subject to      payment of the cost of suchcopy; |
|--|----|--------------------------------------------------------------------------------------------------------------------|

|  | 2. | the      right to inspect and copy, subject to payment of a reasonable      charge: |
|--|----|-------------------------------------------------------------------------------------|

|  | (i)  | all      parts of the register ofshareholders; |
|--|-----------|------------------------------------------------|

|  | (ii) | personal      particulars of each of the Company’s directors, supervisors, president and      other senior administrative officers,including: |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (a)  | present      name and alias and any former name oralias; |
|--|-----------|----------------------------------------------------------|

|  | (b)  | principal      address (residence); |
|--|-----------|-------------------------------------|

----

|        | (c)  | nationality; |
|--------|-----------|--------------|
|   |      |

|  | (d)  | primary      and all other part-time occupations andduties; |
|--|-----------|-------------------------------------------------------------|

|  | (e)  | identification      documents and their relevantnumbers; |
|--|-----------|----------------------------------------------------------|

|  | (iii)  | state      of the Company’s share capital; |
|--|-------------|--------------------------------------------------|

|  | (iv) | reports      showing the aggregate par value, quantity, highest and lowest price paid      in respect of each class of shares repurchased by the Company since the      end of last accounting year and the aggregate amount paid by the Company      for this purpose; |
|--|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (v) | minutes      of shareholders’ general meetings and accountants’ report; |
|--|-----|-------------------------------------------------------------------------------------|

|  | (vi) | interim      and annual reports of the Company. |
|--|------|-------------------------------------------------|

|  | (7) | In      the event of the termination or liquidation of the Company, the right to      participate in the distribution of surplus assets of the Company in      accordance with the number of sharesheld; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (8) | The      right to request the company to repurchase their shares as a result of      disagreement on the resolutions passed by the shareholders’ general      meeting on the merger or division of the  Company; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (9)  | Other      rights conferred by laws, administrative regulations and these Articles of      Association. |
|--|-----------|---------------------------------------------------------------------------------------------------------|

| Article    63 | If      a shareholder requests to inspect the information or obtain the relevant      materials as described in Article 62 of these Articles of Association, he      shall provide the Company with a written document showing the class and      number of shares in the Company held by him. The Company shall at the      request of such shareholder provide him with the relevant information upon      confirmation of his identity. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    64 | If      a resolution of a shareholders’ general meeting or board meeting violates      the provisions of existing laws and administrative regulations of the PRC,      a shareholder may request the local People’s Court to declare it      invalid. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    65 | If      a director or any senior administrative staff violates any laws,      administrative regulations or these Articles of Association in the course      of performing his duties and causes losses to the Company, shareholders      alone or in aggregate holding 1% or more of the Company’s shares for a      hundred and eighty consecutive days may request the supervisory committee      in writing to initiate legal proceedings against such acts in the local      People’s Court; where the Company incurs losses as a result of the members      of the supervisory committee having violated any laws, administrative      regulations or these Articles of Association in the course of performing      their duties, shareholders may request the Board of Directors in writing      to initiate legal proceedings in the local People’s  Court. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    66 | Shareholders      may initiate legal proceedings if a director or any senior administrative      staff violates any laws, administrative regulations or these Articles of      Association and harms the interests of  shareholders. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    67 | The      ordinary shareholders of the Company shall assume the following      obligations: |
|---------------|--------------------------------------------------------------------------------------------|

|  | (1)  | To      abide by these Articles ofAssociation; |
|--|-----------|------------------------------------------------|

|  | (2) | To      pay subscription monies according to the number of shares subscribed and      the method of subscription; |
|--|-----|-------------------------------------------------------------------------------------------------------------------|

|  | (3)  | Not      to withdraw their shares unless required by laws and      regulations; |
|--|-----------|---------------------------------------------------------------------------------|

|  | (4) | Not      to abuse their rights as shareholders to harm the interests of the Company      or other shareholders; not to abuse the independent legal person status of      the Company and the limited liability of shareholders to harm the      interests of any creditor of theCompany. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (5) | Other      obligations imposed by laws, administrative regulations and these Articles      of Association. |
|--|-----|------------------------------------------------------------------------------------------------------------|

| Article    68 | If      a shareholder who holds 5% or more of the Company’s voting shares pledges      the shares in his possession, he shall submit a written report to the      Company on the day when such pledge takesplace. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    69 | In      addition to the obligations imposed by laws and administrative regulations      or required by the listing rules of the stock exchange on which shares of      the Company are listed, a controlling shareholder shall not exercise his      voting rights in respect of the following matters in a manner prejudicial      to the interests of the shareholders generally or of some of the      shareholders of the Company: |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | to      relieve a director or supervisor of his duty to act honestly in the best      interests of the Company; |
|--|-----|-----------------------------------------------------------------------------------------------------------------|

|  | (2) | to      approve the expropriation by a director or supervisor (for his own benefit      or for the benefit of another person), in any guise, of the Company’s      assets, including but not limited to opportunities beneficial to the      Company; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | to      approve the expropriation by a director or supervisor (for his own benefit      or for the benefit of another person) of the individual rights of other      shareholders, including but not limited to rights to distributions and      voting rights save pursuant to a restructuring submitted to shareholders      for approval in accordance with these Articles of    Association. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    70 | For      the purpose of the foregoing Article, a “controlling shareholder” means a      person who satisfies any one of the following  conditions: |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | he      alone or acting in concert with others has the power to elect more than      half of the Board ofDirectors; |
|--|-----|---------------------------------------------------------------------------------------------------------------------|

|  | (2) | he      alone or acting in concert with others has the power to exercise or to      control the exercise of 30% (including 30%) or more of the voting rights      in the Company; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (3) | he      alone or acting in concert with others holds 30% (including 30%) or more      of the issued and outstanding shares of the  Company; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | he      alone or acting in concert with others in any other manner controls the      Company in fact. |
|--|-----|-------------------------------------------------------------------------------------------------------|

| Article    71 | The      controlling shareholders of the Company shall assume the following      obligations for the Company: |
|---------------|---------------------------------------------------------------------------------------------------------------|

|  | (1) | The      controlling      shareholders      and      the      Company      shall      implement      separation of personnel, assets and finance and independence between      organs and business of theCompany; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      controlling      shareholders      shall      respect      decisions      made      by      shareholders’ general meeting and the Board of Directors of the Company,      and shall not bypass the shareholders’ general meeting or the Board of      Directors in interfering with the decisions made and production and      operation activities carried out legally by the  Company; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | The      controlling shareholders shall nominate candidates of the Company’s      directors and supervisors in accordance with laws and regulations and the      Company’s Articles of Association. Nominated candidates of directors and      supervisors shall have the relevant knowledge and capacity of      decision-making and supervision. The controlling shareholders shall not      execute any approval procedure relating to the appointment of members of      the Board of Directors or appointment of personnel at the shareholders’      general meeting, or bypass shareholders’ general meeting and Board of      Directors in employing or dismissing any senior administrative officers of      the Company; the controlling shareholders shall not interfere with the      employment and dismissal and use of any senior administrative officers of      the Company; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      controlling shareholders shall not take advantage of connected      transactions, profit      distribution,      asset      restructuring,      external      investment, capital appropriation and loan guarantee to harm the legal      interests of the Company and other shareholders, and shall not exploit      their special position to obtain additional  benefits; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The      controlling shareholders shall abide by the provisions of the Stock      Exchange about abstaining from decision on connected transactions of the      Company; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | The      controlling shareholders and their related companies shall avoid direct      competition with the Company; |
|--|-----|---------------------------------------------------------------------------------------------------------------------|

|  | (7) | The      controlling shareholders shall ensure that relevant information provided      to the Company is true, accurate and complete, and ensure that the Company      can legally perform disclosure obligation to public    investors; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (8) | When      exercising voting rights, the controlling shareholders shall not make      decisions which harm the legal interests of the Company and other      shareholders. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    72 | The      controlling shareholders and beneficial controller of the Company have a      fiduciary duty towards the Company and its public shareholders, and shall      not exploit their connected relationship with the Company to harm the      interests of the Company. If they have violated such provision and caused      damage to the company, they are liable for  compensation. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    73 | Written      agreements shall be made in respect of connected transactions between the      Company and a connected person, which shall be on the principles of      equality, voluntariness and fair consideration. Connected transactions      shall be made on normal commercial terms, and the consideration must be      comparable with those provided by independent third parties in the      market. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      74 | The      Company shall take active steps to establish and improve its investor      relation management system and boost communications and exchanges with the      shareholders in every way available. The board secretary of the      Companyshallbespecificallyresponsiblefor      investor relationmanagement. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    75 | The      shareholders’ general meeting shall be the source of authority of the      Company and shall exercise its powers according to the    laws. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    76 | The      shareholders’ general meeting shall exercise the following functions and      powers: |
|---------------|------------------------------------------------------------------------------------------------------|

|  | (1)  | To      decide on the Company’s operational policies and investment      plans; |
|--|-----------|---------------------------------------------------------------------------------------|

|  | (2) | To      elect and replace directors and decide on matters relating to the      remuneration of directors; |
|--|-----|-----------------------------------------------------------------------------------------------------------|

|  | (3) | To      elect and replace the supervisors who are representatives of shareholders,      and to decide on matters relating to the remuneration of      supervisors; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4)  | To      examine and approve reports of the Board of  Directors; |
|--|-----------|-----------------------------------------------------------------|

|  | (5)  | To      examine and approve reports of the supervisory  committee; |
|--|-----------|--------------------------------------------------------------------|

|  | (6) | To      examine and approve the Company’s proposed annual preliminary and final      financial budgets; |
|--|-----|---------------------------------------------------------------------------------------------------------------|

|  | (7) | To      examine and approve the Company’s profit distribution plans and plans for      making up losses; |
|--|-----|----------------------------------------------------------------------------------------------------------------|

|  | (8)  | To      decide on increase or decrease in the Company’s registered      capital; |
|--|-----------|----------------------------------------------------------------------------------------|

|  | (9) | To      decide on matters such as merger, division, dissolution, liquidation and      change in company forms of theCompany; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------|

|  | (10)  | To      decide on the issue of debentures by the  Company; |
|--|------------|------------------------------------------------------------|

|  | (11) | To      decide on matters relating to external guarantee according to the relevant      provisions of these Articles of Association of the  Company; |
|--|------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (12) | To      decide on the appointment, dismissal and disengagement of the accountants      of the Company; |
|--|------|--------------------------------------------------------------------------------------------------------|

|  | (13)  | To      amend these Articles ofAssociation; |
|--|------------|---------------------------------------------|

|  | (14) | To      examine and approve the change in use of proceeds from raising      capitals; |
|--|------|---------------------------------------------------------------------------------------|

|  | (15) | To      examine the adoption of share incentivescheme; |
|--|------|--------------------------------------------------------|

|  | (16) | To      consider motions raised by shareholders who represent 3% or more of the      total shares of the Company carrying the right to  vote; |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|  | (17) | To      consider and approve significant acquisition, disposal and replacement of      assets of the Company (the standards shall be fixed in accordance with the      rules of the stock exchange of the listing  place); |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (18)  | To      approve external guarantee by the Company; |
|--|------------|----------------------------------------------------|

|  | (19) | To      decide on other matters which require resolutions of the shareholders at      shareholders’ general meetings according to the relevant laws,      administrative regulations and these Articles of    Association; |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (20) | To      decide on which matters the Board of Directors may be authorised or      delegated to deal with by the shareholders at shareholders’ general      meetings. |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | 1. | To      modify the language of the Articles of Association after the shareholders’      general meeting      has      passed      the      resolution      on      the      amendments to the Articles ofAssociation; |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2.  | To      distribute the interim dividends; |
|--|----------|-------------------------------------------|

|  | 3. | To      decide on specific matters in connection with the issue of new shares and      convertible bonds; |
|--|----|-----------------------------------------------------------------------------------------------------------|

|  | 4. | To      deal with, mortgage and secure the fixed assets under the current      operation policy and investment plan passed at the shareholders’ general      meeting, excluding direct or indirect provision of debts guarantee for the      secured party with a gearing ratio exceeding  70%. |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    77 | Save      for special circumstances such as crisis, the Company shall not, without      the prior approval of shareholders at shareholders’ general meeting, enter      into any contract with any person other than a director, supervisor,      president or other senioradministrative      officer whereby the management and administration of the whole or any      substantial part of the business of the Company is to be handed over to      such person. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    78 | Shareholders’      general meetings are divided into annual general meetings and      extraordinary general meetings. Shareholders’ general meetings shall be      convened by the Board of Directors. Annual general meetings are held once      every year and within six months from the end of the preceding financial      year. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    79 | Under      any of the following circumstances, the Board of Directors shall convene      an extraordinary general meeting within two  months: |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      number of directors is less than that is required by the Company Law or      two thirds of the number of directors specified in these Articles of      Association; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      accrued losses of the Company amount to one third of the total amount of      its share capital; |
|--|-----|-----------------------------------------------------------------------------------------------------------|

----

|  | (3) | Shareholder(s)      individually or jointly holding 10% or more of the Company’s issued      and      outstanding      shares      carrying      voting      rights      request(s) in writing the convening of an extraordinary general      meeting; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | It      is deemed necessary by the Board of Directors or requested by the      supervisory committee to convene an extraordinary general      meeting; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | More      than one half of the independent directors propose to convene the      meeting. |
|--|-----|-------------------------------------------------------------------------------------------|

| Article    80 | The      place for convening the shareholders’ general meeting shall be clearly set      out in the notice of meeting. |
|---------------|------------------------------------------------------------------------------------------------------------------------------|

| Article    81 | The      Company shall engage lawyers to attend shareholders’ general meetings and      advise on the following issues with announcements made      thereon: |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Whether      the convening of the shareholders’ general meeting and its procedures are      in compliance with laws, administrative regulations and these Articles of      Association; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Whether      the attendees are eligible and whether the eligibility of the convenor is      lawful and valid; |
|--|-----|---------------------------------------------------------------------------------------------------------------|

|  | (3) | Whether      the procedures of voting and the voting results of the meeting are lawful      and valid; |
|--|-----|--------------------------------------------------------------------------------------------------------|

|  | (4)  | Legal      opinions on other related matters at the request of the      Company. |
|--|-----------|----------------------------------------------------------------------------------|

| Article    82 | A      shareholders’ general meeting shall be convened and presided over by the      chairman of the Board of Directors. If the chairman is unable to attend      the meeting for any reason, the vice-chairman of the Board of Directors      shall convene and take the chair of the meeting. If both the chairman and      vice-chairman of the Board of Directors are unable to attend the meeting,      then the Board of Directors may designate a director to convene and take      the chair of the meeting. If no chairman of the meeting has been      designated, shareholders present shall choose one person to be the      chairman of the meeting. If for any reason the shareholders fail to elect      a chairman, then the shareholder (including his proxy) presents in person      or by proxy and holds the largest number of shares carrying the right to      vote thereat shall be the chairman of the  meeting. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    83 | Shareholders      requisitioning the convening of an extraordinary general meeting or a      class meeting shall abide by the following  procedures: |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Two      or more shareholders or the supervisory committee holding in aggregate 10%      or more of the shares carrying the right to vote at the meeting sought to      be held shall sign one or more counterpart requisitions stating the      objectives of the meeting and requiring the Board of Directors to convene      a shareholders’ extraordinary general meeting or a class meeting. The      Board of Directors shall as soon as possible proceed to convene the      extraordinary general meeting or a class meeting after receiving the      requisition. The amount of shareholdings referred to above shall be      calculated as at the date of the deposit of the    requisition. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      Board of Directors shall, in accordance with laws, administrative      regulations and these Articles of Association, furnish a written reply      stating its agreement or disagreement to convene the extraordinary general      meeting within ten days upon receipt of such  requisition. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | If      the Board of Directors agrees to convene the extraordinary general      meeting, a notice of meeting shall be issued within five days after      adoption of the relevant resolution by the Board of Directors. Any changes      to the original requisition made in the notice shall require the approval      of the relevant shareholders. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4) | If      the supervisory committee agrees to convene the extraordinary general      meeting, a notice of meeting shall be issued within five days upon receipt      of such requisition. Any changes to the original requisition made in the      notice shall require the approval of the relevant      shareholders. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | If      neither the      Board of Directors nor the supervisory committee convene and preside over      the shareholders’ general meeting, the requisitionists themselves may      convene such a meeting in a manner as similar as possible as that in which      shareholders’ meeting are to be convened by the Board of Directors within      four months from the date of receipt of the requisition by the Board of      Directors. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    84 | Independent      directors shall be entitled to propose to the Board of Directors the      convening of an extraordinary general meeting. The Board of Directors      shall, in accordance with laws, administrative regulations and these      Articles of Association, furnish a written reply stating its agreement or      disagreement to the convening of the extraordinary general meeting within      ten days upon receipt of such proposal. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    85 | The supervisory      committee shall be entitled to propose to the Board of Directors the      convening of an extraordinary general meeting, provided that such proposal      shall be made in writing. The Board of Directors shall,      in accordance with laws, administrative regulations and these Articles of      Association, furnish a written reply stating its agreement or disagreement      to the convening of an extraordinary general meeting within ten days upon      receipt of such      proposal. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    86 | Where      the supervisory committee or shareholders decide(s) to convene the      extraordinary general meeting by itself / themselves, it / they shall send      a written notice to the Board, and file the same with the local office of      CSRC and the stock exchange at the place where the Company is located for      record. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    87 | The      Board of Directors and the secretary to the Board of Directors shall      cooperate with respect to matters relating to a shareholders’ general      meeting convened by the supervisory committee or shareholders at its /      their own discretion. The Board of Directors shall provide the register of      shareholders as of the record date. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    88 | Motions      proposed at a shareholders’ general meeting shall be the specific      proposals relating to the matter that should be put forth for discussion      at a shareholders’ general meeting, upon which resolution shall be made at      the shareholders’ general meeting. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    89 | Where      the Company convenes a shareholders’ general meeting, the Board of      Directors, the supervisory committee and shareholder(s) individually or      jointly holding more than 30% of the Company’s issued and outstanding      shares carrying voting rights shall have the right to propose motions to      the Company. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    90 | Shareholder(s)      individually or jointly holding more than 30% of the Company’s issued and      outstanding shares carrying voting rights shall have the right to propose      an ex tempore motion ten days prior to the general meeting by furnishing      the same to the convener in writing. After the same      have been reviewed and approved by the Board of Directors of the Company,      those matters in the proposed motions within the scope of functions and      powers of the shareholders’ general meeting will be placed on the agendas.      The convener shall within two days after receiving the proposed motion      issue a supplemental notice of general meeting to make public the contents      of the ex tempore motion.      If the Board of Directors considers that the contents of the motion      are not within the scope of functions and powers of the shareholders’      general meeting, it shall give reasons and explanation to the      shareholders’ general meeting and publish the motion and the board’s      explanation along with resolutions adopted by the shareholders’ general      meeting at the end of the meeting. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    91 | Written      notice of a shareholders’ general meeting shall be given forty-five days      before the date of the meeting to notify all of the shareholders in the      share register of the matters to be considered, the date and the place of      the meeting. A shareholder who intends to attend the shareholders’ general      meeting shall deliver his written reply concerning attendance at the      shareholders’ general meeting to the Company twenty days before the date      of the meeting. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    92 | The      Company shall, based on the written replies received twenty days before      the date of the shareholders’ general meeting from the shareholders,      calculate the number of voting shares represented by the shareholders who      intend to attend the meeting. If the number of voting shares represented      by the shareholders who intend to attend the meeting reaches one half or      more of the Company’s total voting shares, the Company may hold the      meeting; if not, then the Company shall within five days notify the      shareholders again by public notice of the matters to be considered, the      place and date for, the meeting. The Company may then hold the meeting      after such publication of notice. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    93 | When      the Board of Directors issues the notice for the convening of a      shareholders’ general meeting, the meeting shall not be postponed without      reason. In case the shareholders’ general meeting must be postponed under      special circumstances, a notice regarding the postponement must be issued      at least two working days before the      original date of the shareholders’ general meeting. In the postponement      notice, the Board of Directors must state the reasons for the postponement      and the date of the postponed meeting. When the shareholders’ general      meeting is postponed, the Board of Directors may not change the record      date of the shareholding of the shareholders entitled to attend the      shareholders’ general meeting provided in the original    notice. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    94 | A      notice of meeting of shareholdersshall: |
|---------------|------------------------------------------------|

|  | (1)  | be      in writing; |
|--|-----------|---------------------|

|  | (2)  | specify      the place, the date and time of themeeting; |
|--|-----------|----------------------------------------------------------|

|  | (3)  | state      the matters and proposals to be considered at the  meeting; |
|--|-----------|------------------------------------------------------------------------|

|  | (4) | provide      such information and explanation as are necessary for the shareholders to      make an informed decision on the proposals put before them. Without      limiting the generality of the foregoing, where a proposal is made to      amalgamate the Company with another, to repurchase shares, to reorganise      the share capital, or to restructure the Company in any other way, the      terms of the proposed transaction must be provided in detail together with      copies of the proposed agreement, if any, and the cause and effect of such      proposal must be properlyexplained; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | contain      a disclosure of the nature and extent, if any, of the material interests      of any director, supervisor, president or other senior administrative      officer in the proposed transaction and the effect of the proposed      transaction on them in their capacity as shareholders in so far as it is      different from the effect on the interests of the shareholders of the same      class; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | contain      the full text of any special resolution to be proposed at the      meeting; |
|--|-----|------------------------------------------------------------------------------------------|

|  | (7) | contain      conspicuously a statement that a shareholder entitled to attend and vote      is entitled to appoint one or more proxies to attend and vote instead of      him and that a proxy need not be ashareholder; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (8) | specify      the time and place for lodging proxy forms for the relevant      meeting; |
|--|-----|----------------------------------------------------------------------------------------|

----

|  | (9) | specify      the record date of shareholding of shareholders entitled to attend the      shareholders’ generalmeeting; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------|

|  | (10) | specify      the name and telephone number of the contact person of the      meeting. |
|--|------|---------------------------------------------------------------------------------------|

| Article    95 | Where      the shareholders’ general meeting intends to deliberate the election of      directors or supervisors, the notice of meeting shall fully disclose the      details information on the candidates for directors or supervisors at      least in the following aspects: |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Personal      information such as educational background, work experience and other      engagements; |
|--|-----|-------------------------------------------------------------------------------------------------------|

|  | (2) | Whether      such candidate has any affiliation with the Company or its controlling      shareholders or beneficialcontrollers; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------|

|  | (3)  | The      number of shares of the Company such candidate  holds; |
|--|-----------|-----------------------------------------------------------------|

|  | (4) | Whether      such candidate has been penalised by the CSRC or any other relevant      authorities. |
|--|-----|----------------------------------------------------------------------------------------------------|

----

| Article    96 | Notice      of shareholders’ general meeting shall be served on the shareholders      (whether or not entitled to vote at the meeting), by hand or by prepaid      airmail to their addresses as shown in the register of shareholders. For      holders of Domestic Shares, notice of meeting may be issued by way of      public notice. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    97 | The      accidental omission to give notice of a meeting to, or the failure to      receive the notice of a meeting by, any person entitled to receive notice      shall not invalidate the proceedings at that  meeting. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    98 | The      Board of Directors and other convener shall take necessary measures to      ensure the good order of the shareholders’ general meeting, take measures      to deter any act disturbing the meeting, picking quarrels and provoking      troubles or infringing the lawful rights and interests of any shareholder,      and shall report in a timely manner such act to the relevant department      for investigation and punishment. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    99 | All      the shareholders or their proxies recorded in the register of members on      the record date are entitled to attend the shareholders’ general meeting,      and shall exercise their voting rights pursuant to the laws, regulations      and these Articles of Association. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    100 | Any      shareholder entitled to attend and vote at a meeting of the Company shall      be entitled to appoint one or more other persons (whether a shareholder or      not) as his proxies to attend and vote on his behalf. A proxy so appointed      shall be entitled to exercise the following rights pursuant to the      authorisation from thatshareholder: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | The      shareholder ’s right to speak at themeeting; |
|--|-----------|-------------------------------------------------------------|

|  | (2)  | The      right to demand or join in demanding apoll; |
|--|-----------|------------------------------------------------------|

|  | (3) | The      right to vote by hand or on a poll, but a proxy of a shareholder who has      appointed more than one proxy may only vote on a  poll. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    101 | The      instrument appointing a proxy shall be in writing under the hand of the      appointer or his attorney duly authorised in writing, or if the appointer      is a legal entity, either under seal or under the hand of a director or      attorney duly authorised. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    102 | If      the instrument for appointing a proxy is signed by an attorney of the      appointer, the power of attorney to sign or other documents of      authorisation shall be notarially certified. The notarially certified copy      of that power of attorney or other authorisation documents and the      instrument appointing the proxy shall be deposited at the premises of the      Company or such other place as is specified for that purpose in the notice      convening the meeting. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    103 | Any      instrument issued to a shareholder by the directors for use in appointing      a proxy to attend and vote at meetings of the Company shall be in such      format as to enable the shareholder to instruct the proxy to vote in      favour of or against the motions according to his free will, and      instructions shall be given in respect of each individual matter to be      voted on at the meeting. The instrument of proxy shall contain a statement      that in the absence of instructions by the shareholder the proxy may vote      as he thinks fit. Meanwhile, there shall be spaces for entering the date      of issue and validity period and executing the signature (or affixing a      seal). If the appointer is a legal person, the seal of the legal person      entity shall also be affixed. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    104 | The      instrument for appointing a voting proxy and, if such instrument is signed      by a person under a power of attorney or other authority on behalf of the      appointer, a notarially certified copy of that power of attorney or other      authority, shall be deposited at the premises of the Company or at such      other place as is specified for that purpose in the notice convening the      meeting, not less than twenty-four hours before the time for holding the      meeting or the time appointed for the passing of the      resolution. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    105 | A      vote given in accordance with the terms of an instrument of proxy shall be      valid notwithstanding the death or loss of capacity of the appointer or      revocation of the proxy or of the authority under which the proxy was      executed, or the transfer of the shares in respect of which the proxy is      given, provided that no notice in writing of such death, loss of capacity,      revocation or transfer as aforesaid shall have been received by the      Company at its premises before the commencement of the meeting at which      the proxy is used. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    106 | An      individual shareholder who attends the shareholders’ general meeting in      person shall produce his identification card or other valid documents or      certificates which can prove his identity, and his stock account card.      Where a proxy is appointed to attend the meeting, the proxy shall produce      his own identification documents and the instrument for appointing a      proxy. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    107 | The      Company shall, subject to the shareholders’ general meetings being legally      and validly held, encourage a higher proportion of participation of public      shareholders in shareholders’ general meetings through various means,      including using modern information technology to establish an online      voting platform. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    108 | In      order to protect the interests of public shareholders in good faith, the      Company shall provide an online voting system for the shareholders to      exercise their voting right at the shareholders’ general meeting so far as      the condition permits. On a voting by poll on the matters mentioned in      Article 129 at the shareholders’ general meeting, online voting shall be      adopted for domestic shareholders. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    109 | The      Board of Directors, independent directors and shareholders who meet the      relevant requirements may solicit from other shareholders their voting      rights in shareholders’ general meetings. The solicitation shall be      without consideration and information shall be fully disclosed to such      shareholders. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    110 | The      Board of the Company shall act in the best interest of the Company and its      shareholders and shall examine the motions proposed at the shareholders’      general meeting according to the provisions of Article  88. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    111 | If      the proposing shareholders have any objection to the decision of the Board      of Directors of not including their motions in the agendas of the      shareholders’ general meeting, they may request the convening of an      extraordinary general meeting according to the provisions of Article      83. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    112 | The      register of attendees of the meeting shall be prepared by the Company.      Such register shall specify information such as the name of the persons      (or units) attending the meeting, identity card number, residential      address, number of shares or voting shares hold, name of the persons (or      units) the proxy represents. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    113 | The      convener and the legal counsel retained by the Company shall jointly      verify the qualification of shareholders according to the register of      shareholders provided by the securities depository and clearing authority,      and shall register the name of the shareholders and the number of their      voting shares. Such registration shall be concluded prior to the      announcement by the chairman of the shareholders’ general meeting of the      number of shareholders and their proxies attending the meeting and the      total number of their votingshares. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    114 | The      chairman of the shareholders’ general meeting shall, prior to the voting,      declare the number of attending shareholders and proxies as well as the      total number of their voting shares. The numbers of attending shareholders      and proxies as well as the total number of their voting shares shall be      subject to the register of themeeting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    115 | All      directors and supervisors and the board secretary shall attend the      shareholders’ general meeting, whereas the president and other senior      administrative officers shall be present at the  meeting. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    116 | The      Company shall formulate rules of procedures of the shareholders’ general      meeting to specify in detail the convention and voting procedures of the      meeting, including notice registration, deliberation of proposals, votes,      vote counting, announcement of voting results, formation of resolutions,      minutes and the signatures thereon, announcement, as well as the      principles of authorisation by the shareholders’ general meeting to the      Board of Directors, the contents of such authorisation shall be expressly      specified. The rules of proceedings of the shareholders’ general meeting      shall be an appendix of these Articles of Association, and shall be      drafted by the Board of Directors and approved by the shareholders’      general meeting. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    117 | At      the annual general meeting, the Board of Directors and the supervisory      committee shall report their respective work of the previous year to the      general meeting of shareholders, and each independent director shall also      make his duty report correspondingly. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    118 | Except      for trade secret of the Company and issues which are not discloseable at      shareholders’ general meetings as provided by laws, regulations, or      securities rules, directors,  supervisors and  senior      administrative officers shall reply or give explanation and description to      the inquiries and suggestions raised by the shareholders at the      Shareholders’ general meeting. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    119 | The      board secretary shall be responsible for preparing minutes of      shareholders’ general meetings, which shall  contain: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | the      time, venue, agendas of the meeting, and the name of the convener; |
|--|-----|-----------------------------------------------------------------------------|

|  | (2) | the      name of the chairman of the meeting, the directors, supervisors, president      and other senior administrative officers attending the      meeting; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | the      number of shareholders and proxies attending the meeting, the total number      of their voting shares and their respective proportions to the total      number of shares of the Company; the numbers of voting shares of domestic      shareholders (including their proxies), overseas listed foreign      shareholders (including their proxies), holders of tradable shares      (including the proxies) and holders of non-tradable shares (including the      proxies) presented at the meeting and its proportion to the total number      of shares of the Company; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | the      process of deliberation of each proposal, the main points of speeches and      the voting results (including the votes on each resolution by domestic      shareholders, foreign shareholders, holders of tradable shares and holders      of non-tradable shares); |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (5) | the      inquiries or suggestions of the shareholders and the corresponding replies      or explanations; |
|--|-----|-----------------------------------------------------------------------------------------------------------|

|  | (6)  | the      names of legal counsel, vote counters, and  supervisors; |
|--|-----------|-------------------------------------------------------------------|

|  | (7) | other      contents which, shall be contained in the minutes of the meeting as      prescribed by these Articles ofAssociation. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------|

| Article    120 | The      chairman shall guarantee the veracity, accuracy and completeness of the      minutes of the meeting. The directors, supervisors, board secretary,      convener or their representative, chairman of the meeting shall sign on      the minutes of the meeting. The minutes of meeting shall be kept together      with the valid information such as the attendance register of the      attending shareholders and the power of attorney of their proxies, the      votes cast by way of internet and by other means shall be kept at the      premises of the Company for a period tenyears. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    121 | The      convener shall ensure that the continuity of the shareholders’ general      meeting of until the final resolution is formed. Where the shareholders’      general meeting is suspended or no resolution can be made due to force      majeure or any other special causes, necessary measures shall be taken to      resume or directly terminate the shareholders’ general meeting, and an      announcement shall be made in a timely manner. Meanwhile, the convener      shall report this to the local office of the CSRC the stock exchange at      the city where the Company islocated. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    122 | Resolutions      of shareholders’ general meetings shall be divided into ordinary      resolutions and specialresolutions. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------|

----

| Article    123 | When      voting at the shareholders’ general meeting, shareholders (including the      proxies) may exercise their voting rights in accordance with the number of      their voting shares and each share shall have one  vote. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    124 | The      following issues shall be approved by vote on a poll under the voting      supervisor ’s supervision at the shareholders’ general      meeting: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Connected      transactions; |
|--|-----------|------------------------------|

|  | (2)  | Transactions      that shall be approved by independent  shareholders; |
|--|-----------|------------------------------------------------------------------------|

|  | (3) | Options      granted to major shareholders or independent directors or any of their      associates; and |
|--|-----|----------------------------------------------------------------------------------------------------------|

|  | (4) | Any      other transactions in which shareholders are materially interested and      accordingly are required to refrain from voting at shareholders’ general      meeting. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | by      the chairman of the meeting; |
|--|-----------|--------------------------------------|

|  | (2) | by      at lease two shareholders entitled to vote present in person or by      proxy; |
|--|-----|----------------------------------------------------------------------------------------|

|  | (3) | by      one or more shareholders present in person or by proxy and representing      10% or more of all shares carrying the rights to vote at the      meeting. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    125 | A      poll demanded on the election of the chairman of the meeting, or on a      question of adjournment of the meeting, shall be taken forthwith. A poll      demanded on any other question shall be taken at such time as the chairman      of the meeting directs, and any business other than that upon which a poll      has been demanded may be proceeded with, pending the taking of the poll.      The result of the poll shall be deemed to be a resolution of the meeting      at which the poll was demanded. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    126 | On      a poll taken at a meeting, a shareholder (including proxy) entitled to two      or more votes need not cast all his votes in the same  way. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    127 | In      the case of an equality of votes, whether on a show of hands or on a poll,      the chairman of the meeting shall be entitled to a casting      vote. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    128 | The      following matters shall be resolved by an ordinary resolution at the      shareholders’ general meeting: |
|----------------|-------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Work      reports of the Board of Directors and the supervisory      committee; |
|--|-----------|---------------------------------------------------------------------------------|

|  | (2) | Plans      formulated by the Board of Directors for distribution of profits and for      making up losses; |
|--|-----|------------------------------------------------------------------------------------------------------------|

|  | (3) | Removal      of the members of the Board of Directors and members of the supervisory      committee, their remuneration and method of  payment; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Annual      preliminary and final budget, balance sheet, profit and loss account and      other financial statements of theCompany; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|  | (5)  | Annual      report of the Company; |
|--|-----------|------------------------------------|

|  | (6) | Matters      other than those specified by laws, administrative regulations or these      Articles of Association to be resolved by special    resolutions. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    129 | The      following matters shall be resolved by a special resolution at a      shareholders’ general meeting: |
|----------------|---------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      increase or decrease in share capital and the issue of shares of any      class, warrants and other similar securities of the    Company; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | The      issue of debentures of the Company; |
|--|-----------|----------------------------------------------|

|  | (3)  | The      division, merger, dissolution and liquidation of the    Company; |
|--|-----------|---------------------------------------------------------------------------|

|  | (4)  | Amendments      to these Articles of Association; |
|--|-----------|---------------------------------------------------|

|  | (5)  | Repurchase      of the Company’s shares; |
|--|-----------|------------------------------------------------|

|  | (6) | The      Company plans to purchase or sell major assets or provides a guarantee the      amount of which within a year exceeds 30% of the Company’s latest audited      total assets; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7)  | Share      option scheme; |
|--|-----------|---------------------------|

|  | (8) | Any      other matters as provided by laws, administrative regulations or these      Articles of Association and considered by the shareholders’ general      meeting by way of an ordinary resolution to be of a nature which may have      a material impact on the Company and shall be adopted by a special      resolution. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Any      issue of new shares by the Company to the public (including issue of      overseas listed foreign shares or share of other natures), issue of      convertible debentures, placing of shares to existing shareholders (except      in such placing where the controlling shareholders have provided an      undertaking to fully subscribe for the shares in cash before the      shareholders’ general meeting isconvened); |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Major      asset restructuring in which the assets will be acquired at a total price      which is 20% higher than the audited net book value of such      assets; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Repayment      of debts due to the Company by any shareholder using his shares of the      Company; |
|--|-----|-----------------------------------------------------------------------------------------------------|

----

|  | (4)  | Overseas      listing of any significant subsidiary of the  Company; |
|--|-----------|----------------------------------------------------------------------|

|  | (5) | Other      relevant issues which may have a material impact on the interests of the      public shareholders in the development of the  Company. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    131 | Annual      general meetings or extraordinary general meetings held at the request of      shareholders and the supervisory committee shall not adopt voting by way      of written resolutions. Extraordinary general meetings held for other      reasons may vote by way of written resolutions, except for the following      matters: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | Increase      or decrease in the Company registeredcapital; |
|--|-----------|-------------------------------------------------------------|

|  | (2)  | Any      issue of debentures by the Company; |
|--|-----------|----------------------------------------------|

|  | (3)  | Merger,      division, dissolution and liquidation of the  Company; |
|--|-----------|---------------------------------------------------------------------|

|  | (4)  | Any      amendment to these Articles ofAssociation; |
|--|-----------|-----------------------------------------------------|

|  | (5)  | Plan      for distribution of profits and recovery of  losses; |
|--|-----------|----------------------------------------------------------------|

|  | (6) | Appointment      and removal of members of the Board of Directors and the supervisory      committee; |
|--|-----|-------------------------------------------------------------------------------------------------------|

|  | (7)  | Change      in application of raised funds; |
|--|-----------|---------------------------------------------|

|  | (8) | Connected      transactions that shall be considered and examined by the shareholders’      general meeting; |
|--|-----|--------------------------------------------------------------------------------------------------------------------|

|  | (9) | Acquisition      and disposal of assets that shall be considered and examined by the      shareholders’ generalmeeting; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------|

|  | (10) | Change      of accounting firms; |
|--|------|----------------------------------|

|  | (11) | Other      matters that shall not be voted by way of written resolutions as provided      by these Articles ofAssociation. |
|--|------|----------------------------------------------------------------------------------------------------------------------------|

----

| Article    132 | The      nominee list of Directors and Supervisors of the Company shall be      submitted to the shareholders’ general meeting for resolution. The Board      of Directors shall simultaneously provide shareholders with      bibliographical details, basic information about and written undertakings      of nominees of Directors andSupervisors. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    133 | When      the shareholders’ general meeting is examining and discussing a connected      transaction, the connected shareholder shall not participate in the vote      on the shares. His shares carrying the voting rights shall not be counted      as valid votes in the total. The announcement on the resolutions passed by      the shareholders’ general meeting shall fully disclose information      regarding the voting of the independent shareholders. If under special      circumstances, the connected shareholders cannot withdraw from the voting,      they may vote in the normal course of proceeding after the Company has      obtained the approval from the competent authorities provided that the      Company shall give detailed explanation thereof in the announcement on the      resolutions passed by the shareholders’ general  meeting. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    134 | The      opinions of the public shareholders shall be well represented in the      election of the directors (including independent directors) and      supervisors (excluding supervisors assumed by staff representatives) at      the shareholders’ general meetings by prompting the accumulative voting      system. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    135 | Differential      voting shall be applied upon election of the Directors and Supervisors in      accordance with the accumulative voting system. The number of nominees      shall be more than the proposed number of Directors and      Supervisors. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    136 | The      Board of Directors and the supervisory committee shall consult the opinion      of the top ten shareholders in writing prior to determination of the      elected Directors and Supervisors. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    137 | After      issue of notice of shareholders’ general meeting by the Company about      election of Directors and Supervisors, shareholders holding individually      or in aggregate more than 1% of the voting shares of the Company may      propose nominees of Directors and Supervisors before the shareholders’      general meeting for review by the Board of Directors in accordance with      the procedures for amendments to proposals of shareholders’ general      meeting before submission to shareholders’ general meeting for      examination. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    138 | The      independent directors shall be elected separately from other members of      the Board of Directors in accordance with the accumulative voting      system. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    139 | Except      for the accumulative voting system, the shareholders’ general meeting      shall vote on all motions item by item, and shall vote on the motions in      time sequence when various proposals are put forward for a single matter.      Unless the shareholders’ general meeting is suspended or no resolution can      be passed due to force majeure or any other special reasons, the      shareholders’ general meeting shall not set aside or cast no vote on the      motions. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    140 | When      a motion is put to discussion at the shareholders’ general meeting, no      modification of the motion shall be made, or the relevant change shall be      deemed as a new motion which shall not be voted at the      meeting. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    141 | Before      a resolution is voted on at a general meeting, two representatives of the      shareholders shall be elected as vote counters and scrutinisers. Any      shareholder who is interested in the matter under consideration and      proxies of such shareholder shall not participate in vote counting or      scrutinising. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    142 | The      on site shareholders general meeting shall not end earlier than the online      means or other means. The chairman of the meeting shall announce the      voting and result of each of the motions, and announce whether they are      approved according to the results. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    143 | The      chairman of the meeting shall be responsible for determining whether a      resolution is passed. His decision, which is final and conclusive, shall      be announced at the meeting and recorded in the minutes of      meeting. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    144 | If      the chairman of the meeting has any doubt as to the result of a resolution      put to the vote of the meeting, he may have the votes counted. If the      chairman of the meeting fails to have the votes counted, any shareholder      who is present in person or by proxy and who objects to the result      announced by the chairman of the meeting may demand that the votes be      counted immediately after the declaration of the result, and the chairman      of the meeting shall have the votes counted  promptly. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    145 | If      votes are counted at a shareholders’ general meeting, the vote counting      result shall be recorded in the minutes of the  meeting. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    146 | Results      of the resolution shall be announced timely, and the announcement shall      contain the number of shareholders and proxies present, the total number      of voting rights and the percentage of the voting rights to the total of      voting shares of the Company, means of voting, the voting result for each      motion and the details of each of the resolutions. Statistic counting and      announcement shall be conducted on the attendance for domestic      shareholders and foreign shareholders  separately. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    147 | For      If the motion is not passed, or if the resolutions of the previous general      meeting have been changed by the present shareholders’ general meeting,      special highlight should be made in the announcement of the resolutions of      the shareholders’ general meeting. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    148 | When      the shareholders’ general meeting has passed motions regarding cash      distribution, bonus issue or conversion of capital common reserve into      capital, the specific proposals will be implemented within two months      after the close of the shareholders’ general  meeting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    149 | The      minutes of meeting together with the attendance register of the attending      shareholders and the power of attorney of their proxies shall be kept at      the premises of the Company. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    150 | Copies      of the minutes of meeting shall be available for inspection free of charge      by shareholders during business hours of the Company. If a shareholder      requests the Company for a copy of such minutes, the Company shall send a      copy of such minutes to him within seven days after having received      reasonable charges. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    151 | Matters      uncovered by these Articles of Association regarding the convening of      shareholders’ general meeting, voting procedures and deliberation of      proposals shall be handled in accordance with the relevant provisions of      laws and regulations effective in thePRC. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    152 | Those      shareholders who hold different classes of shares are shareholders of      different classes. |
|----------------|----------------------------------------------------------------------------------------------------------|

| Article    153 | Rights      conferred on any class of shareholders in the capacity of shareholders      (“class rights”) may not be varied or abrogated unless approved by a      special resolution of shareholders in shareholders’ general meeting and by      holders of shares of that class at a separate meeting conducted in      accordance with Article 154 to 156. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    154 | The      following circumstances shall be deemed to be variation or abrogation of      the rights of a class ofshareholders: |
|----------------|------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | To      increase or decrease the number of shares of such class, or to increase or      decrease the number of shares of a class having voting or equity rights or      privileges equal or superior to those of the shares of such      class; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | To      effect an exchange of all or part of the shares of such class into shares      of another class or to effect an exchange or create a right of exchange of      all or part of the shares of another class into the shares of such      class; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | To      remove or reduce rights to accrued dividends or rights to cumulative      dividends attached to shares of suchclass; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | To      reduce or remove a dividend preference or a liquidation preference      attached to shares of suchclass; |
|--|-----|------------------------------------------------------------------------------------------------------------------|

|  | (5) | To      add, remove or reduce conversion privileges, options, voting rights,      transfer or pre-emptive rights, or rights to acquire securities of the      Company attached to shares of suchclass; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | To      remove or reduce rights attached to shares of such class to receive      payment payable by the Company in particular  currencies; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (7) | To      create a new class of shares having voting or equity rights or privileges      equal or superior to those of the shares of such  class; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (8) | To      restrict the transfer or ownership of the shares of such class or add to      such restriction; |
|--|-----|---------------------------------------------------------------------------------------------------------|

|  | (9) | To      issue rights to subscribe for, or convert into, shares in the Company of      such class or another class; |
|--|-----|--------------------------------------------------------------------------------------------------------------------|

|  | (10) | To      increase the rights or privileges of shares of another    class; |
|--|------|--------------------------------------------------------------------------|

|  | (11) | To      restructure the Company where the proposed restructuring will result in      different classes of shareholders bearing a disproportionate burden of      such proposed restructuring; |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (12)  | To      vary or abrogate the provisions of these Articles of      Association. |
|--|------------|--------------------------------------------------------------------------------|

| Article    155 | Shareholders      of the affected class, whether or not otherwise having the right to vote      at shareholders’ general meetings, shall nevertheless have the right to      vote at class meetings in respect of matters concerning Clauses (2) to      (8), (11) and (12)of      Article 154, but interested shareholder(s) shall not be entitled to vote      at class meetings. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | in      the case of a repurchase of shares by offers to all shareholders on a pro      rata basis or public dealing on a stock exchange under Article 38, a      “controlling shareholder” within the meaning of Article  71; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | in      the case of a repurchase of share by an off-market contract under Article      38, a holder of the shares to which the proposed contract      relates; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | in      the case of a restructuring of the Company, a shareholder within a class      who bears less than a proportionate obligation imposed on that class under      the proposed restructuring or who has an interest in the proposed      restructuring different from the interest of shareholders of that      class. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    156 | Resolutions      of a class of shareholders shall be passed by votes representing more than      two-thirds of the voting rights of shareholders of that class represented      at the relevant meeting who, according to Article 154, are entitled to      vote at class meetings. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    157 | Written      notice of a class meeting shall be given forty-five days before the date      of the class meeting to notify all of the shareholders in the share      register of the class of the matters to be considered, the date and the      place of the class meeting. A shareholder who intends to attend the class      meeting shall deliver his written reply concerning attendance at the class      meeting to the Company twenty days before the date of the class      meeting. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    158 | Notice      of class meetings need only be served on shareholders entitled to vote      thereat. |
|----------------|--------------------------------------------------------------------------------------------------|

| Article    159 | Pursuant      to the provisions of the Rules Governing the Listing of Securities on the      Stock Exchange of Hong Kong Limited, in addition to other classes of      shareholders, holders of Domestic Shares and holders of Overseas Listed      Foreign Shares are deemed to be different class of      shareholders. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    160 | The      special procedures for voting at any meeting of a class of shareholders      shall not apply to the followingcircumstances: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Where      the Company issues, upon the approval by special resolution of its      shareholders in shareholders’ general meeting, either separately or      concurrently once every twelve months, not more than 20% of each of its      issued and outstanding Domestic Shares and Overseas Listed Foreign      Shares; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Where      the Company’s plan to issue Domestic Shares and Overseas Listed Foreign      Shares at the time of its establishment is carried out within fifteen      months from the date of approval by the Securities Committee of the State      Council. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    161 | The      Company shall have a Board of Directors which is responsible to the      shareholders’ general meetings. The Board of Directors shall comprise      twelve members, one of whom shall be the chairman. The chairman and the      vice chairman shall be elected with the approval of more than half of all      the directors. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    162 | The      Board shall be responsible to the shareholders’ general meeting and shall      exercise the following powers: |
|----------------|------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | To      be responsible for the convening of the shareholders’ general meeting and      to report on its work to the shareholders’ general  meeting; |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | To      implement the resolutions of the shareholders’ general      meetings; |
|--|-----------|-------------------------------------------------------------------------------------|

|  | (3)  | To      decide on the Company’s business plans and investment    plans; |
|--|-----------|-------------------------------------------------------------------------------|

|  | (4)  | To      formulate the Company’s annual preliminary and financial      budgets; |
|--|-----------|--------------------------------------------------------------------------------------|

|  | (5)  | To      formulate the Company’s profit distribution plan and plan for making up      losses; |
|--|-----------|----------------------------------------------------------------------------------------------------|

|  | (6)  | To      formulate proposals for increases or decrease in the registered capital      and the issue of debentures of theCompany; |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------|

|  | (7)  | To      draw up plans for the merger, division or dissolution of the      Company; |
|--|-----------|------------------------------------------------------------------------------------|

|  | (8)  | To      decide on matters relating to the Company’s assets pledge, external      guarantee, entrusted financial management, connected transaction      etc.according to authorisation of shareholders’ general      meeting; |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (9)  | To      decide on the Company’s acquisition and sales of assets and risk      investments; |
|--|-----------|--------------------------------------------------------------------------------------------------|

|  | (10) | To      decide on the establishment of the Company’s internal management      structure; |
|--|------|------------------------------------------------------------------------------------------------|

|  | (11) | To      appoint of dismiss the Company’s president, and pursuant to the      president’s nominations to appoint or dismiss the vice president, the      financial controller and other senior administrative officers of the      Company and decide on theirremunerations; |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (12)  | To      establish the Company’s basic managementsystem; |
|--|------------|---------------------------------------------------------------|

|  | (13)  | To      formulate proposals for amendments to these Articles of      Association; |
|--|------------|-----------------------------------------------------------------------------------|

|  | (14) | To      propose to the shareholders’ general meeting for the engagement or change      of accounting firm for the audit work of the  Company; |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (15)  | To      receive the work report and to check the work of the president of the      Company; |
|--|------------|---------------------------------------------------------------------------------------------|

|  | (16)  | To      exercise any other powers conferred by these Articles of Association or      the shareholders’ general meeting. |
|--|------------|-------------------------------------------------------------------------------------------------------------------------------|

----

| Article    163 | The      Board of Directors shall not, without the prior approval of shareholders      in a shareholders’ general meeting, dispose of or agree to dispose of any      fixed assets of the Company where the aggregate of the expected value of      the consideration for the proposed disposal and the value of the      consideration for any similar disposal of fixed assets in the four months      immediately preceding the proposed disposal, exceeds 33% of the value of      the Company’s fixed assets as stated in the last balance sheet placed      before the shareholders’ generalmeeting. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    164 | The      Board of Directors shall explain to the shareholders’ general meeting      regarding the non-standard auditors’ advice given by the chartered      accountant in relation to the financial report of the    Company. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    165 | The      Board of Directors shall formulate the rules of procedures of board      meetings to ensure the implementation by the Board of Directors of the      resolutions of the shareholders’ general meeting, the enhancement of work      efficiency, and the guarantee of scientific decision    making. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    166 | The      Board of Directors shall determine external investment, acquisition and      sale of assets, asset pledge, external guarantee, entrusted financial      management, scope of powers for connected transactions, establishment of      stringent examination and decision making procedures; specialists or      professional personnel shall be organised to assess and examine any      material investment projects and such investment projects shall be      submitted to the shareholders’ general meeting for    approval. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    167 | The      Board of Directors shall perform its duties in accordance with State laws,      administrative regulations, these Articles of Association and resolutions      of the shareholders’ general meetingto. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    168 | The      chairman of the Board of Directors shall exercise the following      powers: |
|----------------|---------------------------------------------------------------------------------------|

|  | (1) | To      preside over the shareholders’ general meeting, and to convene and preside      over the meetings of the Board ofDirectors; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | To      check the implementation of boardresolutions; |
|--|-----------|-------------------------------------------------------|

|  | (3)  | To      sign the securities issued by theCompany; |
|--|-----------|---------------------------------------------------|

|  | (4)  | To      exercise the powers of the legalrepresentative; |
|--|-----------|---------------------------------------------------------|

|  | (5) | To      exercise special disposal powers that are in compliance with laws,      administrative regulations and in the interests of the Company on      mattersoftheCompanyincaseofforcemajeuresuchas      extraordinarily serious natural calamities, and provide post-event reports      to the Board and the shareholders’ general  meeting; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6)  | To      exercise other powers vested by theBoard. |
|--|-----------|---------------------------------------------------|

| Article    169 | The      vice chairman of the Company shall assist the chairman. Where the chairman      is unable or fail to perform his duties, the vice chairman shall perform      the duty on behalf of the chairman. Where the vice chairman is unable or      fail to perform his duties, a majority of the directors may jointly elect      one director to perform the duties. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    170 | Board      meetings shall be held at least twice every year and be convened by the      chairman of the Board by serving notice of each Board meeting on all the      directors by telex, telegram, facsimile, express delivery, registered mail      or personal delivery ten days before the date of the proposed meeting. A      special board meeting may be held upon requisition by either the chairman,      one third or more of the directors (including the one third), the      supervisory committee or president of the  Company. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    171 | A      special board meeting shall be convened by the Board when it      is |
|----------------|-----------------------------------------------------------------------------|

|  | (1) | proposed      by shareholders representing more than one tenth of voting      rights; |
|--|-----|---------------------------------------------------------------------------------------|

|  | (2)  | proposed      by one third or more of thedirectors; |
|--|-----------|-----------------------------------------------------|

|  | (3)  | proposed      by the supervisory committee; |
|--|-----------|---------------------------------------------|

|  | (4)  | considered      necessary by the Chairman of the Board of  Directors; |
|--|-----------|-----------------------------------------------------------------------|

|  | (5)  | proposed      by more than half of the independentdirectors; |
|--|-----------|--------------------------------------------------------------|

|  | (6)  | proposed      by the General Manager; |
|--|-----------|---------------------------------------|

|  | (7)  | requested      to be convened by the securities regulatory  organ. |
|--|-----------|--------------------------------------------------------------------|

----

| Article    172 | Notice      of meetings and special meetings of the Board of Directors shall be      delivered by the means and at the times as  follows: |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | No      notice is required if the timing and venue of the meetings have been      decided by the Board of Directors inadvance. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | If      the Board of Directors has not decided the timing and venue of the      meetings, the chairman shall, though the board secretary, deliver notices      of the meetings to all directors and the chairman of the supervisory      committee by email, telegraph, facsimile, express delivery service,      registered mail or by specially-assigned person at least ten days before      the meetings. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Such      notices shall be in Chinese, with English version when necessary, and      shall include the meetingagendas. |
|--|-----|------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Where      it is necessary to convene a special board meeting, a notice shall be      given to all directors by telephone, telegraph or facsimile at least eight      hours in advance. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    173 | Notice      of a board meeting shall contain: |
|----------------|-----------------------------------------------|

|  | (1)  | the      date and venue of the meeting; |
|--|-----------|-----------------------------------------|

|  | (2) | the      method for which the meeting is held and the duration of the      meeting; |
|--|-----|-------------------------------------------------------------------------------------|

|  | (3)  | the      matters to be discussed (theagendas); |
|--|-----------|------------------------------------------------|

|  | (4) | the      convener and the chairman of the meeting, the person who proposes the      special board meeting and his/her written  proposal; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | the      date of the notice. The materials necessary for the directors to vote in      the meeting; |
|--|-----|-----------------------------------------------------------------------------------------------------|

|  | (6) | the      request for the personal attendance of the directors or the attendance      through the appointment of an alternate  director; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|  | (7)  | the      contact person and the method ofcontact. |
|--|-----------|---------------------------------------------------|

| Article    174 | Board      meetings shall be held only if more than half of the directors are      present. Each director shall have one vote. A resolution of the Board of      Directors must be passed by more than half of all the      directors. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    175 | If      any director who attends the meeting but has not stated before or upon      attendance that he has not received the notice of the meeting, such      director shall be deemed to have received the notice of the      meeting. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    176 | Any      regular or special board meeting may be held by way of telephone      conference or similar communication equipment so long as all directors      participating in the meeting can clearly hear and communicate with each      other. All such directors shall be deemed to be present in person at the      meeting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    177 | For      matters which need to be approved at a special board meeting, in lieu of      convening a board meeting, a written resolution may be adopted by the      Board if such resolution has been sent to all members of the Board and      affirmatively signed and adopted by the number of directors necessary to      make such a decision as stipulated in Article  174. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    178 | Directors      shall attend any board meeting in person. Where a director is unable to      attend for some reasons, he or she may authorise in writing another      director to attend the board meeting on his behalf. The instrument of      proxy shall specify the name of the proxy, the matters to be authorised,      scope of authorisation and the validity period, and the proxy shall sign      on or affix a chop to such instrument. The director attending the meeting      for another director shall exercise the rights of the latter director      within the scope of authorisation. Any director who is unable to attend a      particular board meeting and has not authorised a proxy to attend on his      behalf shall be deemed as waiving the right to vote at that      meeting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    179 | The      Board of Directors shall keep minutes of its decisions on the matters      considered. Directors attending the meeting and the person taking the      minutes shall sign their names on the minutes of the meeting. Directors      shall be responsible for the resolutions of the board meetings. Where a      resolution of the board meetings violates laws, administrative regulations      or   Articles of Association and causes serious losses to      the Company, the directors who took part in such a resolution shall be      liable to compensate the Company. However, if a director can prove that he      had expressed his opposition to such resolution when it was put to the      vote, and such opposition is recorded in the minutes of the meeting, the      director may be relieved of suchliability. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    180 | The      resolutions of all board meetings shall be recorded and filed in Chinese.      The Board of Directors shall keep minutes of resolutions passed at board      meetings. The minutes shall be signed by directors present at the meetings      and presented to all directors for examination as soon as possible after      the meetings. Any director who intends to amend the minutes shall within      six working days after receiving the same submit his proposed amendments      in written to the chairman. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    181 | The      completed and approved minutes shall be signed by the chairman and the      attending directors (including the proxies) and the board secretary. A      complete copy of the minutes shall be sent to every directors as soon as      possible. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    182 | The      minutes of meetings shall contain the following    information: |
|----------------|--------------------------------------------------------------------------|

|  | (1)  | The      date, venue and the name of the convener of the  meeting; |
|--|-----------|--------------------------------------------------------------------|

|  | (2) | Names      of the directors attending the board meeting in person and as      proxies; |
|--|-----|----------------------------------------------------------------------------------------|

|  | (3)  | Agendas      of the meetings; |
|--|-----------|-------------------------------|

|  | (4)  | Summary      of the statements made by thedirectors; |
|--|-----------|------------------------------------------------------|

|  | (5) | The      method and result of voting for every resolution (with the number of votes      for and against the resolution and the number of abstained      votes. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    183 | Directors      of the Company are natural persons. A person shall be disqualified from      being a director of the Company in any one of the following      circumstances: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1)  | The      individual has no capacity to undertake civil liabilities or restricted      capacity to undertake civilliabilities; |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | A      period of five years has not yet elapsed since the penalisation on      conviction of corruption, bribery, unauthorised taking of      properties,misappropriation of properties or disrupting social and      economic order; or a period of five years has not yet elapsed since being      deprived of political rights for commission of  offences; |
|--|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3)  | A      period of three years has not yet elapsed since the completion of the      liquidation of any company or enterprise which was insolvent due to      unsound business operation and management and where the person acted as a      director, factory manager or manager of such company or enterprise and was      personally liable for suchinsolvency; |
|--|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4)  | A      period of three years has not yet elapsed since revocation of the business      license of a company or enterprise due to illegal business operations      where the person was the legal representative of such company or      enterprise and for which he was personally  liable; |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5)  | The      person is personally liable for a substantial loan which was due for      payment but remains unpaid; |
|--|-----------|----------------------------------------------------------------------------------------------------------------|

|  | (6)  | The      person has been involved in criminal offences subject to investigation by      judicial authorities and the case has yet been  settled; |
|--|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7)  | The      person is not eligible for acting in the leadership of a company or      enterprise according to laws or administrative  regulations; |
|--|-----------|------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (8)  | The      person is not a natural person; |
|--|-----------|------------------------------------------|

|  | (9)  | A      period of five years has not yet elapsed since the person was adjudged by      the relevant governing authority to be guilty of contravention of      provisions of securities regulations involving fraud or      dishonesty; |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (10)  | Currently      being barred by the China Securities Regulatory Commission from      participating in the securitiesmarket; |
|--|------------|----------------------------------------------------------------------------------------------------------------------------|

|  | (11) | Other      stipulations of laws, administrative regulations rules or departmental      rules. |
|--|------|-----------------------------------------------------------------------------------------------|

| Article    184 | Directors      shall be elected and replaced at the shareholders’ general meeting, with a      term of office of three years. Directors (Including alternate directors)      shall have a term commencing on the date of the resolutions of the      shareholders’ general meeting and expiring upon      conclusion of the tenure of the existing Board of Directors. Upon expiry      of his term, a director shall be eligible for  re-election. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    185 | Directors      shall be abided by laws, administrative rules      and   Articles of Association, and owe to the Company the      following faithful obligations: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Not      to abuse their authority of office to obtain bribes or other illegal      income and not to misappropriate the property of the Company; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | Not      to misappropriate the capital of theCompany; |
|--|-----------|-------------------------------------------------------|

|  | (3) | Not      to deposit assets or capital of the Company in any accounts which are      opened in their own name or in the names of other persons; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Not      to act in violation of   Articles of Association and lend      the Company’s capital to others or provide guarantee to others by charging      the Company’s assets before obtaining consent at the shareholders’ general      meetings or at boardmeetings; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | Not      to enter into contracts or transactions with the Company in violation      of   Articles of Association or before obtaining consent in      the shareholders’ generalmeeting; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Not      to use their position to obtain for themselves or others business      opportunities which originally belonged to the Company, or to run      themselves or others business which is in the Company’s business line,      before obtaining consent at the shareholders’ general    meeting; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7)  | Not      to gain for themselves commissions in transactions of the Company; |
|--|-----------|-----------------------------------------------------------------------------|

|  | (8)  | Not      to disclose the secrets of the Company without  consent; |
|--|-----------|-------------------------------------------------------------------|

|  | (9)  | Not      to use their connections to hurt the interests of the    Company; |
|--|-----------|----------------------------------------------------------------------------|

|  | (10) | To      be bound by other obligations stipulated by laws, administrative      regulations, departmental rules and   Articles of      Association. |
|--|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    186 | The      directors shall be abided by laws, administrative rules and Articles of      Association, and owe to the Company the following diligence      obligations: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | They      shall exercise the rights granted by the Company with care and diligence      to ensure that the Company’s commercial activities are in compliance with      laws, administrative rules and the requirements of all economic policies      of the country and that its commercial activities have not gone beyond the      scope stipulated in the businesslicense; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2)  | They      shall treat all shareholdersequally; |
|--|-----------|------------------------------------------------|

|  | (3) | They      shall have a good knowledge of the Company’s business      operation; |
|--|-----|---------------------------------------------------------------------------------------|

|  | (4) | They      are required to sign the written confirmation of the Company’s regular      report. They shall ensure the information disclosed by the Company is      true, accurate and complete; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | They      shall inform the supervisory committee of the truth and are not allowed to      obstruct the supervisory committee or supervisors from exercising their      powers; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | They      are bound by other diligence obligations stipulated by laws,      administrative regulations, departmental rules and Articles of      Association. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    187 | Directors      shall be elected by the shareholders’ general meeting from the Board of      Directors or candidates nominated by shareholders representing 5%      (including the 5%) or more of the issued shares. At least seven days’      notice of nomination of a candidate for election as a director and      particulars of such candidate shall be given to the Company, and such      seven days period shall start no sooner than the first day after the date      of giving the notice and end no later than seven days prior to the date of      such shareholders’ general meeting. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    188 | The      election of directors shall be based on a cumulative voting system. During      the election, each share held by shareholders attending the general      meeting shall have the same voting rights as the number of director’s      candidates. Each shareholder may cast all his votes to a single candidate      or spread his votes among different candidates, provided that the      cumulative votes cast shall not exceed the total number of votes held by      that shareholder. The directors shall be elected according to the number      of votes cast for them. The number of votes obtained by the director’s      candidates shall exceed half of the voting rights represented by the      persons attending the shareholders’ general  meeting. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    189 | A      director who fails to attend in person and does not entrust other      directors to attend two consecutive board meetings shall be deemed as      unable to perform his duties. The Board of Directors shall propose to the      shareholders’ general meeting to remove such  director. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    190 | A      director may resign before the expiration of his term. The resigning      director shall submit to the Board of Directors a notice of resignation.      The Board of Directors shall disclose the relevant information within two      days. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    191 | Upon      the resignation taking effect or the expiry of the term of office of a      director, such director shall duly complete all handover. The fiduciary      duties owed by such director to the Company and the shareholders will not      be released for certain before or within a reasonable period of time after      the resignation takes effect and upon the expiry of his term of office.      The obligation of confidentiality of such director in relation to the      commercial secrets of the Company remains effective after the term of such      director ends until such commercial secrets become public information. The      continuity of other obligations shall be determined on the principle of      fairness, and dependent on the length of time between the incident occurs      and the resignation, as well as the conditions and circumstances under      which the director terminates his relationship with the      Company. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    192 | Without      stipulation by   Articles of Association or lawful      authorisation by the Board of Directors, no director shall in his own name      act for the Company or the Board of Directors. Where a director acts in      his own name but a third party reasonably believes that such director is      acting for the Company or the Board of Directors, such director shall      declare in advance his position andstatus. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    193 | Where      an executive director violates any laws, administrative regulations,      departmental rules or the provisions of   Articles of      Association in the course of performing his duties and causes loss to the      Company, such executive director shall be liable for      compensation. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    194 | The      Company shall have independent directors. The independent directors shall      have no other position in the Company (other than as director of the      Company), and shall not be in any relationship with the Company or its      major shareholders that will impair their independent and objective      judgment. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    195 | One      third or more of the members of the Board of Directors shall be      Independent Directors, of which at least one independent director shall be      an accounting professional. Independent directors shall carry out their      duties honestly and faithfully, protect the Company’s interest and in      particular prevent encroachment of the rights and interests of public      shareholders. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    196 | An      independent director shall meet the following  requirements: |
|----------------|----------------------------------------------------------------------|

|  | (1) | He      shall be qualified as a director of a listed company according to the      laws, administrative rules and other relevant rules of the jurisdiction      where the Company’s shares arelisted; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | He      shall have the basic knowledge of operating a listed company, and is well      acquainted with the relevant laws, administrative rules and other rules      and regulations; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | He      shall have at least five years of experience in the legal or economic      field, or other experience necessary for performance of his duties as an      independent director; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4)  | Other      conditions set forth in   Articles of      Association. |
|--|-----------|-----------------------------------------------------------------------------------|

| Article    197 | The      following persons shall not be independent directors of the      Company: |
|----------------|------------------------------------------------------------------------------------|

|  | (1) | Persons      who are employed by the Company or its subsidiaries, or direct and close      relatives thereof (direct relatives mean spouses, parents, and offspring,      and close relatives include siblings, father-in-law and mother- in-law,      daughter-in-law and son-in-law, brother-in-law and sister-in-law, and the      siblings of the spouses); |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Natural      persons who hold directly or indirectly more than 1% of the Company’s      issued shares, or who are among the top ten shareholders of the Company,      and direct relatives thereof; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Persons      employed by company shareholders which hold directly or indirectly more      than 5% of the issued shares of the Company or are among the top five      shareholders of the Company, and direct relatives  thereof; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Persons      who fell under any of the above three categories in the past one      year; |
|--|-----|------------------------------------------------------------------------------------------|

----

|  | (5)  | Persons      who provide financial, legal or consultation services to the Company      or any of its subsidiaries; |
|--|-----------|--------------------------------------------------------------------------------------------------------------------|

|  | (6)  | Other      persons specified in   Articles of    Association; |
|--|-----------|------------------------------------------------------------------------------|

|  | (7)  | Other      persons specified by the China Securities Regulatory      Commission. |
|--|-----------|----------------------------------------------------------------------------------|

| Article    198 | Independent      directors owe a duty of fiduciary and diligence to the Company and its      shareholders. They shall perform their duties in accordance with the      relevant laws and regulations and   Articles of      Association, and shall protect the interests of the Company and in      particular prevent encroachment of the rights and interests of minority      shareholders. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    199 | Nomination,      election and replacement of independent      directors |
|----------------|-------------------------------------------------------------------------|

|  | (1) | The      Board of Directors, the supervisory committee, and shareholder(s) who      alone or jointly with other persons hold(s) more than 1% of the issued      shares of the Company shall have the right to nominate candidates as      independent directors, and the nominated candidates shall become      independent directors by election at a shareholders’ general      meeting. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      nominator shall have the approval of the proposed candidate for the      nomination before making a nomination. The nominator shall have adequate      knowledge of the profession, education, professional title and detailed      work experience of the nominee as well as status of all his part-time      jobs. The nominator shall also comment on the qualification and      independence of the nominee as an independent director. The nominee shall      make a public statement disclaiming any relationship between him and the      Company that will affect his independent judgment. Before the shareholders      meeting for the election of independent directors, the Company’s Board of      Directors shall announce the above information in accordance with the      relevant provisions. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (3) | Before      convening the shareholders’ general meeting for the election of      independent directors, the Company shall submit the written opinion of the      Board, and the relevant materials of all the nominees to the China      Securities Regulatory Commission and its local office as well as the stock      exchange at which the Company’s shares are listed. Dissenting opinions of      the Board with regard to the nominees shall also be submitted. Nominees of      independent directors objected by China Securities Regulatory Commission      may be candidates of the directors of the Company but not as candidates of      independent directors of the Company. At the shareholders’ general meeting      for the election of independent directors, the Board of Directors shall      make clear whether the nominees of independent directors are objected to      by China Securities RegulatoryCommission. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      terms of office of the independent directors are the same as those of      other directors. Successive terms are allowed upon the expiration of the      term, but may not be extended to more than six  years. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | An      independent director who fails to attend in person two consecutive board      meetings shall be deemed as unable to perform his duties and shall be      replaced upon the proposal of the Board to the shareholders’ general      meeting. An independent directors shall not be dismissed without a      justification before the expiration of his term, unless the above      condition or any of the conditions specifying the disqualification of a      director under the Company Law has occurred. When an independent director      is dismissed, the Company shall disclose the dismissal as a special      disclosable matter and shall give reasons for the dismissal. The      independent director may make a public statement if he thinks that such a      dismissal is withoutjustification. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Independent      directors may resign before the expiration of their terms. A resigning      independent director shall submit written resignation to the Board of      Directors. The written resignation shall contain explanations on matters      related to his resignation or any other matters which in his opinion,      should be brought to the notice of the shareholders and creditors of the      Company. If the resignation of an independent director results in the      number of independent shareholders or the number of directors constituting      the Board of Directors to fall below the quorum or the number required      under   Articles of Association, the written resignation of      such directors shall become effective only when the vacancy arising from      his resignation has been filled by a new independent director. The Board      of Directors shall convene a shareholders’ general meeting to re-elect an      independent director within two months. If it is expected that no      shareholders’ general meeting will be convene, the independent director      may cease performing hisduty. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    200 | Rights      and obligations of independentDirectors |
|----------------|-----------------------------------------------------|

|  | (1) | To      facilitate independent directors to perform their function more      efficiently, the independent directors shall have the following special      powers, in addition to having those powers granted by the Company Law and      other relevant laws and regulations to  directors: |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | Approve      connected transactions the aggregate consideration of which is in      compliance with the relevant provisions of the existing listing rules and      other supervisory regulation in places where the Company is listed and      approve the engagement or disengagement of accounting firms before putting      forward the same for discussion by the Board of Directors. Before the      Independent Directors make a judgment, they may hire an intermediary to      issue an independent financial adviser report, which forms the base of      their judgments; |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | Propose      to the Board of Directors with respect to engaging or disengaging      accounting firms; |
|--|----|-------------------------------------------------------------------------------------------------------|

|  | 3. | Propose      to the Board of Directors with respect to the convening of extraordinary      general meetings; |
|--|----|--------------------------------------------------------------------------------------------------------------|

|  | 4.  | Propose      the convening of board meetings; |
|--|----------|-----------------------------------------------|

|  | 5.  | Engage      external auditing firms or consultancyfirms; |
|--|----------|----------------------------------------------------------|

|  | 6. | Publicly      solicit and collect proxies before the convening of shareholders’ general      meetings. |
|--|----|--------------------------------------------------------------------------------------------------------------|

|  | (2) | Independent      directors shall obtain the consent of over half of all the independent      directors in exercising any of the above powers, of which the power      referred to in clause (1) (v) of this Article shall be agreed by all      independent directors. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | If      any of the above proposals has not been adopted or if any the above powers      cannot be exercised, the Company shall disclose the relevant      information. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Apart      from the powers of an ordinary director and the special powers of an      independent director, an independent director shall comply with all      provisions in respect of the obligations of a director set forth      in   Articles ofAssociation. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    201 | Independent      directors shall provide their opinions on all the important matters of the      Company. |
|----------------|-----------------------------------------------------------------------------------------------------------|

|  | (1) | In      addition to the above obligations, independent directors shall provide      their independent opinions to the Board of Directors or the shareholders’      general meeting on the followingmatters: |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 1.  | Nomination,      appointment and removal ofdirectors; |
|--|----------|-------------------------------------------------------|

|  | 2.  | Appointment      and dismissal of senior administrativeofficers; |
|--|----------|------------------------------------------------------------------|

|  | 3.  | Remuneration      of directors and senior administrativeofficers; |
|--|----------|-------------------------------------------------------------------|

|  | 4. | Newly      occurred transactions, loans and other forms of fund transfer between the      Company and its shareholders, actual controllers or their affiliates, the      aggregate amount of which is in compliance with the relevant provisions of      the existing listing rules and other supervisory regulations in places      where the Company is listed, and whether the Company has taken effective      measures to collect the amountsdue; |
|--|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 5.  | Matters      which may harm the interests of the minority  shareholders; |
|--|----------|--------------------------------------------------------------------------|

|  | 6. | When      the Board of Directors does not put forward a cash dividend      plan; |
|--|----|----------------------------------------------------------------------------------|

|  | 7  | Matters      relating to security provided to external parties by the Company; |
|--|---------|--------------------------------------------------------------------------------|

|  | 8.  | Other      matters provided by   Articles of    Association. |
|--|----------|-----------------------------------------------------------------------------|

|  | (2) | The      independent directors shall choose to provide any of the following      opinions in respect of the abovematters: |
|--|-----|---------------------------------------------------------------------------------------------------------------------------|

|  | 1.  | Agree; |
|--|----------|--------|

|  | 2.  | Reserve      opinion and the reasons therefor; |
|--|----------|------------------------------------------------|

|  | 3.  | Dissent      and the reasons therefor; |
|--|----------|----------------------------------------|

|  | 4.  | Unable      to comment and the reasonstherefor. |
|--|----------|-------------------------------------------------|

|  | (3) | If      the matters concerned fall under those which require disclosure, the      company shall publicly disclose the opinions of the independent directors.      If the independent directors cannot reach a consensus, the Company shall      publicly disclose the opinions of each of the independent      directors. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    202 | To      ensure that independent directors will be able to perform their duties      efficiently, the Company shall provide the following to the independent      directors: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      Company shall ensure that independent directors have the same right of      access to information as its other directors. With regard to matters that      require board decision, the Company shall serve notice on the independent      directors in advance within the prescribed time, and provide sufficient      materials. If the independent directors take the view that the materials      are insufficient, they may request for supplementary information. When two      or more independent directors take the view that the materials are      insufficient or are inadequately explained, they may, in writing, jointly      propose to the Board for a postponement of the Board meeting or for a      postponement of determination of the matters concerned. Such proposal      shall be adopted by the Board. Materials provided by the Company to      independent directors shall be kept by the Company and the independent      directors for at least fiveyears. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      Company shall provide necessary working conditions to independent      directors for the performance of their duties. The board secretary shall      give independent directors the necessary assistance liaising with and      coordinating the work of the independent directors, including (but not      limited to) briefing them on the status of the Company and providing them      with the relevant materials. The board secretary shall be responsible for      handling the disclosure matters in connection with any independent      opinions, proposal or written explanatory statements made or given by the      independent directors which shall bedisclosed. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | The      Company and its relevant personnel shall actively cooperate with the      independent directors when the latter perform their duties, and shall      provide accurate information to the independent directors and shall not      refuse to do so, or prevent the independent directors from access to      information or withhold any information, or interfere with the independent      directors when they are discharging their duties, or hide information from      the independent directors. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      expenses incurred as a result of the engagement by the independent      directors of professional institutions because of the performance of their      duties shall be borne by theCompany. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (5) | The      Company shall pay appropriate subsidies to the independent directors. The      rate of such subsidies shall be proposed by the Board and approved by the      shareholders’ general meeting, and shall also be disclosed in the      Company’s annual report. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    203 | The      Company may set up several special committees according to the resolutions      of shareholders’ general meeting (including strategy, audit, nomination,      remuneration and evaluation, and independent board committees). Members      of   special committees shall all be directors. In the      audit committee, the remuneration committee and the evaluation committee,      the independent directors shall form the majority and shall be responsible      for convening the committee meetings. In the auditing committee at least      one independent director shall be an accounting    professional. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    204 | The      special committees may engage intermediaries for professional advice, and      the expenses incurred shall be borne by the  Company. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| Article    205 | The      special committees are accountable to the Board of Directors, and the      proposals made by each of the special committees shall be submitted to the      Board of Directors for examination anddecision. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    206 | The      chief powers and functions of each special committee shall be determined      in accordance with the relevant regulations of the place where the Company      is listed. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    207 | The      Company shall have a board secretary, who is a senior administrative      officer of the Company. |
|----------------|------------------------------------------------------------------------------------------------------------|

| Article    208 | The      board secretary of the Company shall be a natural person who has the      requisite professional knowledge and experience, and shall be appointed by      the Board of Directors. The primary responsibilities of the board      secretary are: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | to prepare for shareholders’      general meetings and boardmeetings; |
|--|-----|-----------------------------------------------------------------------------|

|  | (2) | to      ensure that Company has maintain complete constitution documents and      records; |
|--|-----|--------------------------------------------------------------------------------------------|

|  | (3) | to      ensure that the Company prepares and delivers in accordance with law those      reports and documents required by competent authorities entitled      thereto; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4) | to      ensure that the Company’s registers of shareholders are properly      maintained, and that persons entitled to the Company’s records and      documents are furnished with such records and documents without      delay; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | to arrange for information      disclosure and otheraffairs. |
|--|-----|--------------------------------------------------------------|

| Article    209 | A      director or other senior administrative officer of the Company may hold      the office of board secretary concurrently. However, president, chief      financial officer and the accountant(s) of the certified public accountant      firm appointed by the Company shall not act as board      secretary. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    210 | The      Company shall have one president, who shall be appointed and dismissed by      the Board of Directors. The term of office of the president is three      years, which is the same as the Board of Directors, renewable upon      re-election. The Company shall      have a certain number of vice presidents who will assist the president in      his work. The Board of Directors may decide that a member of the Board of      Directors will concurrently act as the  president. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    211 | The      president shall be accountable to the Board of Directors and exercise the      following functions and powers: |
|----------------|-------------------------------------------------------------------------------------------------------------------------|

|  | (1) | To      be in charge of the Company’s production, operation and management and to      organise the implementation of the resolutions of the Board of      Directors; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | To      organise the implementation of the Company’s annual business plan and      investment plan; |
|--|-----|-----------------------------------------------------------------------------------------------------------|

|  | (3) | To      draft plans for the establishment of the Company’s internal management      structure; |
|--|-----|------------------------------------------------------------------------------------------------------|

|  | (4) | To      establish the Company’s basic managementsystem; |
|--|-----|---------------------------------------------------------------|

|  | (5)  | To      formulate basic rules and regulations for the  Company; |
|--|-----------|-----------------------------------------------------------------|

|  | (6) | To      propose the appointment or dismissal of the Company’s vice president(s)      and financial controller; |
|--|-----|----------------------------------------------------------------------------------------------------------------------|

----

|  | (7) | To      appoint or dismiss management personnel other than those required to be      appointed or dismissed by the Board of  Directors; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|  | (8) | Other      powers conferred by Articles of Association and the Board of Directors. |
|--|-----|------------------------------------------------------------------------------------|

| Article    212 | The      president may be present at meetings of the Board of Directors. The      president has no voting rights at the board meetings unless he is also a      director. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    213 | The      president and vice presidents, in exercising their functions and powers,      shall act honestly and diligently in accordance with laws, administrative      regulations,   Articles of Association and the requirements      of the rules of working procedures of the Company’s president. The      president and vice presidents shall not, in exercising their functions and      powers, vary the resolutions of shareholders’ general meetings and Board      meetings or exceed the scope of their authorities. In the event that      president and vice presidents violate any laws, regulations      and   Articles of Association resulting in losses to the      Company, the Board of Directors shall pursue their legal      liabilities. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    214 | The      president shall prepare the rules of working procedures for approval by      the Board before implementation. The working procedures of president      contain the following: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Requirements      for the convening of, procedures for, and persons attending to the      president meeting; |
|--|-----|--------------------------------------------------------------------------------------------------------------|

|  | (2) | Respective      duties and responsibilities and division of work of president and other      senior administrativeofficers; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Scope      of power of using the funds and assets of the Company and entering into      material contracts, and the system of reporting to the Board and the      supervisory committee; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Other      matters deemed necessary by theBoard. |
|--|-----|--------------------------------------------------|

| Article    215 | The      president may resign before expiration of his term of office. The specific      procedures and measures are subject to the related articles of the service      contract between the president and theCompany. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    216 | The      Board of the Company appoints other senior administrative officers based      on the nomination of thepresident. |
|----------------|---------------------------------------------------------------------------------------------------------------------------|

----

| Article    217 | Article      182 of   Article of Association in relation to the      eligibility of the directors also applies to other senior administrative      officers; article 184 in relation to the fiduciary obligations of      directors and clauses (4) to (6) of Article 185 concerning the diligence      obligations also apply to the senior administrative officers of the      Company. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    218 | For      loss borne by the Company due to the breach of laws, administrative      regulations, departmental rules and   Articles of      Association by the senior administrative staff in the course of performing      their duties, the responsible person shall bear the      liabilities. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    219 | The      Company shall have a supervisory committee. The supervisory committee      shall be composed of five supervisors, one of which shall be the chairman.      The chairman of the supervisory committee is subject to election or      removal with the consent of two thirds or more of the members of the      supervisory committee. The chairman of the supervisory committee shall      convene and preside over meetings of the supervisory committee. When the      chairman of supervisory committee is unable or fails to perform this      duties, a supervisor shall be elected by half or more of the supervisors      to convene and preside over meetings of the supervisory      committee. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    220 | The      supervisory committee shall comprise of representatives of shareholders      and the Company’s staff and workers. Two of them shall be representatives      of the staff and workers. Supervisors representing shareholders shall be      elected by the shareholders’ general meeting from the supervisory      committee or from the candidates nominated by shareholders representing      over 5% (including 5%) of shares of the Company. Notice of nomination of      candidates and the candidates’ written agreement to accept the nomination      shall be sent to the Company seven days before the shareholders’ general      meeting. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    221 | Meetings      of the supervisory committee shall be held at least once every six months      every year, and shall be convened by the chairman of the supervisory      committee. Notice of meeting shall be sent to each supervisor in writing      ten days before the meeting. The notice shall include the date, venue,      duration, reasons and topics of the meeting and the date on which the      notice is sent. If for any reason the meeting of the supervisory committee      cannot be convened as scheduled, an announcement shall be made to explain      the reasons. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | it      is proposed by supervisors; |
|--|-----|-------------------------------------|

|  | (2) | a      resolution in violation of the laws, the regulations, the statutes, the      provisions and requirements of the supervisory department, the Memorandum      and Article of Association, the resolution of shareholders’ meeting and      other relevant requirements is passed in the general meeting or in board      meeting; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | possible      material damages to the Company or adverse impact to the market are caused      by the inappropriate behavior of the director and the senior      management; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | the      Company, the director, the supervisor or the senior management is sued by      shareholders; |
|--|-----|-------------------------------------------------------------------------------------------------------|

|  | (5) | the      Company, the director, the supervisor or the senior management is punished      by the securities regulatory organ or is condemned by Shanghai Stock      Exchange; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6)  | a      request is made by the securities regulatory  organ. |
|--|-----------|-------------------------------------------------------------|

| Article    222 | The      supervisory committee shall be accountable to entire shareholders and      exercise the following functions and powers in accordance with      law: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | To      examine the Company’s financialsituation; |
|--|-----|---------------------------------------------------------|

|  | (2) | To      check whether the directors, president and other senior administrative      officers have violated any laws, administrative regulations      and   Articles of Association in the course of performing      their duties; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | To      demand rectification from the directors, president or other senior      administrative officers when the acts of such persons are harmful to the      Company’s interest; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | To      check the financial information such as the financial report, business      report and plans for distribution of profits to be submitted by the Board      of Directors to the shareholders’ general meetings and, should any queries      arise, to authorises in the name of the Company public certified      accountants and practising auditors to re-examine the financial      information; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | To      propose the convening of extraordinary general  meeting; |
|--|-----|------------------------------------------------------------------|

|  | (6) | To      represent the Company in negotiation with or bringing an action against a      director; |
|--|-----|--------------------------------------------------------------------------------------------------|

|  | (7) | Other      functions and powers specified in Articles of Association. Members of the      supervisory committee shall attend as non-voting members at meetings of      the Board of Directors. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    223 | Method      of discussion and voting procedures of the supervisory committee shall      follow the rules of procedures of the supervisory committee. The rules of      procedures of the supervisory committee, as an appendix      of   Articles of Association, shall be drafted by the      supervisory committee and approved by the shareholders’ general      meeting. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    224 | Resolutions      of the supervisory committee shall be passed by half or more of all of its      members. |
|----------------|-----------------------------------------------------------------------------------------------------------|

| Article 225 | Notice      of supervisory committee meetings shallcontain: |
|------------------|-------------------------------------------------------------|

|  | (1) | the      date and venue of the meeting; |
|--|-----|-----------------------------------------|

|  | (2)  | the      matters to be discussed (theagendas); |
|--|-----------|------------------------------------------------|

|  | (3) | the      convener and the chairman of the meeting, the person who proposes the      special meeting and his/her writtenproposal; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | the      materials necessary for the supervisors to vote in the      meeting; |
|--|-----|-------------------------------------------------------------------------------|

|  | (5)  | the      request for the personal attendance of the  supervisors; |
|--|-----------|-------------------------------------------------------------------|

|  | (6)  | the      contact person and the method ofcontact. |
|--|-----------|---------------------------------------------------|

| Article 226  | The      supervisory committee meetings shall keep minutes of meeting. Supervisors      present at the meeting and the person taking the minutes shall sign on the      meeting minutes. Supervisors can request to have the speech they make in      the meeting recorded in the minutes. The meeting minutes of supervisory      committee shall be safely and properly kept as an important file of the      Company. The meeting minutes of      supervisory committee shall be kept as a file of the Company for ten      years. |
|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    227 | All      reasonable fees incurred in respect of the employment of professionals      such as lawyers, certified public accountants or practicing auditors by      the supervisory committee in exercising its functions and powers shall be      borne by the Company. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    228 | Supervisors      shall be elected and removed by the shareholders’ general meeting with a      term of office of three years. Supervisors (including by-elected      supervisors) shall have a term commencing on the date of the resolution of      the shareholders’ general meeting or the staff and workers representative      meeting and expiring upon conclusion of the tenure of the supervisory      committee. Upon expiry of his term, a supervisor shall be eligible for      re-election. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    229 | Supervisors      shall carry out their duties honestly and faithfully in accordance with      laws, administrative regulations and   Articles of      Association. Supervisors shall not abuse their authority of office to      obtain bribes or other illegal income and not to misappropriate the      property of the Company. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    230 | Where      no re-election is made in time upon expiry of the term of a supervisor, or      any supervisors resigns resulting in the number of members of the      supervisory committee below the statutory number, the original supervisor      shall, prior to a new supervisor entering on the office, continue to      perform his duties as a supervisor in accordance with laws, administrative      regulations and Articles ofAssociation. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    231 | Supervisors      shall ensure that the information disclosed by the Company is true,      accurate and complete. |
|----------------|------------------------------------------------------------------------------------------------------------------|

----

| Article    232 | Supervisors      shall attend as nonvoting members meetings of the Board of Directors and      have the right to inquire or put forward suggestions on resolutions of the      Board of Directors. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    233 | Supervisors      shall not exploit their Connected Relationship with the Company to harm      the interests of the Company. If they have violated such provision and      caused damage to the company, they are liable for      compensation. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    234 | Directors,      president and other senior administrative officers of the Company shall      not act concurrently assupervisors. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------|

| Article 235 | Whereasupervisorviolatesanylaws,administrativeregulations,      departmental rules or the provisions of   Articles of      Association in the course of performing his duties and causes loss to the      Company, such supervisor shall be liable for  compensation. |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    236 | A      person may not serve as a director, supervisor, president and other senior      administrative officers of the Company if any of the circumstances of      Article 183 in Articles of Associationapplies. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    237 | The      validity of an act of a director, president or other senior administrative      officer on behalf of the Company is not, vis-a-vis a bona fide third      party, affected by any irregularity in his office, election or any defect      in his qualification. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    238 | In      addition to the obligations imposed by laws, administrative regulations or      required by the listing rules of the stock exchange on which shares of the      Company are listed, each of the Company’s directors, supervisors,      president and other senior administrative officers owes a duty to each      shareholder, in the exercise of the functions and powers of the Company      entrusted to him: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Not      to cause the Company to exceed the scope of business stipulated in its      business license; |
|--|-----|--------------------------------------------------------------------------------------------------------|

|  | (2) | To      act honestly in the best interests of the  Company; |
|--|-----|-------------------------------------------------------------|

|  | (3) | Not      to expropriate in any guise the Company’s property, including but not      limited to usurpation of opportunities advantageous to the      Company; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4) | Not      to expropriate the individual rights of shareholders, including but not      limited to rights to distribution and voting rights, save pursuant to a      restructuring of the Company submitted to shareholders for approval in      accordance with   Articles of  Association. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    239 | Each      of the Company’s directors, supervisors, president and other senior      administrative officers owes a duty, in the exercise of his powers and      discharge of his obligations, to exercise the care, diligence and skill      that a reasonably prudent person would exercise in comparable      circumstances. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article 240 | EachoftheCompany’sdirectors,supervisorsandanyothersenior      administrative officers shall exercise his powers or perform his duties in      accordance with the principle of fiduciary; and shall not put himself in a      position where his duty and his interest may conflict. This principle      applies to include but not limited to discharging the following      obligations: |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | To      act honestly in the best interests of the  Company; |
|--|-----|-------------------------------------------------------------|

|  | (2) | To      exercise powers within the scope of his powers and not to exceed those      powers; |
|--|-----|---------------------------------------------------------------------------------------------|

|  | (3) | To      exercise the discretion vested in him personally and not to allow himself      to act under the control of another and, unless and to the extent      permitted by laws, administrative regulations or with the informed consent      of shareholders given in shareholders’ general meeting, not to delegate      the exercise of hisdiscretion; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | To      treat shareholders of the same class equally and to treat shareholders of      different classes fairly; |
|--|-----|------------------------------------------------------------------------------------------------------------------|

|  | (5) | Except      in accordance with   Articles of Association or with the      informed consent of shareholders given in shareholders’ general meeting,      not to enter into any contract, transaction or agreement with the      Company; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | Without      the informed consent of shareholders given in shareholders’ general      meeting, not to use the Company’s property for his own      benefit; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (7) | Not      to exploit his position to accept bribes or other illegal income or      expropriate the Company’s property by any means, including but not limited      to opportunities advantageous to theCompany; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (8) | Without      the informed consent of shareholders given in shareholders’ general      meeting, not to accept commissions in connection with the Company’s      transactions; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (9) | To      abide by   Articles of Association, perform his official      duties faithfully and protect the Company’s interests, and not to exploit      his position and power in the Company to advance his own private      interests; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (10) | Not      to compete with the Company in any way unless with the informed consent of      shareholders given in shareholders’ general  meeting; |
|--|------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (11) | Not      to misappropriate the Company’s funds or lend such funds to others, not to      open accounts in his own name or other names for the deposit of the      Company’s assets and not to provide a guarantee for debts of a shareholder      of the Company or other individual(s) with the Company’s      assets; |
|--|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (12) | Unless      otherwise permitted by informed shareholders in shareholders’ general      meeting, to keep in confidence information acquired by him in the course      of and during his tenure and not to use the information other than in      furtherance of the interests of the Company, save that disclosure of such      information to the court or other governmental authorities is permitted      if: |
|--|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | disclosure      is made under compulsion of law; |
|--|----|--------------------------------------------------|

|  | 2. | the      interests of the public requiredisclosure; |
|--|----|-----------------------------------------------------|

|  | 3. | the      interest of the relevant director, supervisor, president or other senior      administrative officers requiredisclosure. |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------|

| Article    241 | Each      director, supervisor, president and any other senior administrative      officer of the Company shall not cause the following persons or      institutions (“associates”) to do what he is prohibited from      doing: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      spouse or minor child of that director, supervisor, president and other      senior administrativeofficer; |
|--|-----|---------------------------------------------------------------------------------------------------------------------|

|  | (2) | A      person acting in the capacity of trustee of that director, supervisor,      president or other senior administrative officer or any person referred to      in clause (1) of Article 240; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | A      person acting in the capacity of partner of that director, supervisor,      president or other senior administrative officer or any person referred to      in clauses (1) and (2) of Article240; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4) | A      company in which that director, supervisor, president or other senior      administrative officer, alone or jointly with one or more persons referred      to in clause (1) to (3) of Article 240 and other directors, supervisors,      president and other senior administrative officers have a de facto      controlling interest; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The      directors, supervisors, president and other senior administrative officers      of the controlled company referred to in clauses (4) of Article      240. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    242 | The      fiduciary duties of the directors, supervisors, president and other senior      administrative officers of the Company do not necessarily cease with the      termination of their tenure. The duty of confidentiality in relation to      trade secrets of the Company survives the termination of their tenure.      Other duties may continue for such period as fairness may require      depending on the time lapse between the termination and the act concerned      and the circumstances under which the relationships between them and the      Company are terminated. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    243 | Except      as provided in Article 69 hereof, a director, supervisor, president and      any other senior administrative officer of the Company may be relieved of      liability for specific breaches of his duty by the informed consent of      shareholders given at a shareholders’ general  meeting. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    244 | Where      a director, supervisor, president and any other senior administrative      officer of the Company is in any way, directly or indirectly, materially      interested in a contract, transaction or arrangement or proposed contract,      transaction or arrangement with the Company, (other than his contract of      service with the Company), he shall declare the nature and extent of his      interests to the Board of Directors at the earliest opportunity, whether      or not the contract, transaction or arrangement or proposal therefor is      otherwise subject to the approval of the Board of    Directors. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    245 | Where      a director, supervisor, president and other senior administrative officer      of the Company gives to the Board of Directors a general notice in writing      stating that, by reason of the facts specified in the notice, he is      interested in contracts, transactions or arrangements of any description      which may subsequently be made by the Company, that notice shall be deemed      for the purposes of the preceding Article to be a sufficient declaration      of his interests, so far as the content stated in such notice is      concerned, provided that such general notice shall have been given before      the date on which the question of entering into the relevant contract,      transaction or arrangement is first taken into consideration on behalf of      the Company. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    246 | The      Company shall not in any manner pay taxes for or on behalf of a director,      supervisor, president and any other senior administrative      officer. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    247 | The      Company shall not directly or indirectly make a loan to or provide any      guarantee in connect with the making of a loan to a director, supervisor,      president and other senior administrative officer of the Company or of the      Company’s holding company or any of their respective associates. However,      the following transactions are not subject to such      prohibition: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | The      provision by the Company of a loan or a guarantee of a loan to a company      which is a subsidiary of theCompany; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      provision by the Company of a loan or a guarantee in connection with the      making of a loan or any other funds to any of its directors, supervisors,      president and other senior administrative officers to meet expenditure      incurred or to be incurred by him for the purposes of the Company or for      the purpose of enabling him to perform his duties properly, in accordance      with the terms of a service contract approved by the shareholders in      shareholders’ generalmeeting; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | The      Company may make a loan to or provide a guarantee in connection with the      making of a loan to any of the relevant directors, supervisors, president      and other senior administrative officers or their respective associates in      the ordinary course of its business on normal commercial terms, provided      that the ordinary course of business of the Company includes the lending      of money or the giving ofguarantees. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    248 | A      loan made by the Company in breach of Article 247 shall be forthwith      repayable by the recipient of the loan regardless of the terms of the      loan. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    249 | A      guarantee for repayment of loan provided by the Company in breach of      Article 247 shall not be enforceable against the Company,      unless: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | the      guarantee was provided in connection with a loan to an associate of any of      the directors, supervisors, president and other senior administrative      officers of the Company or of the Company’s holding company and at the      time the loan was advanced the lender did not know the relevant      circumstances; or |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | the      collateral provided by the Company has been lawfully disposed of by the      lender to a bona fidepurchaser. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------|

| Article    250 | For      the purpose of the foregoing provisions of this Chapter, a “guarantee”      includes an undertaking or property provided to secure the performance of      obligations by the obligor. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article 251 | In      addition to any rights and remedies provided by the laws and      administrative regulations,whereadirector,supervisor,presidentorothersenior      administrative officer of the Company is in breach of his duties to the      Company, the Company has a rightto: |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | claim      damages from the director, supervisor, president and other senior      administrative officer in compensation for losses sustained by the Company      as a result of such breach; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | rescind      any contract or transaction entered into by the Company with the director,      supervisor, president and other senior administrative officer or with a      third party (where such third party knows or should know that there is      such a breach of duties by such director, supervisor, president and other      senior administrativeofficer); |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | demand      an account of the profits made by the director, supervisor, president and      other senior administrative officer in breach of his    duties; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | recover      any monies received by the director, supervisor, president and other      senior administrative officer which should otherwise have been received by      the Company, including but not limited to commissions;  and |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | request      such director, supervisor, president and other senior administrative      officer to return the interests accrued or may be accrued on the monies      which should have been paid to theCompany. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    252 | The      Company shall, with the prior approval of shareholders in shareholders’      general meeting, enter into a contract in writing with a director or      supervisor wherein his emoluments are stipulated. The aforesaid emoluments      shall include: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | the      emoluments in respect of his service as director, supervisor or senior      administrative officer of theCompany; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------|

|  | (2) | the      emoluments in respect of his service as director, supervisor or senior      administrative officer of any subsidiary of the  Company; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | the      emoluments in respect of the provision of other services in connection      with the management of the affairs of the Company and any of its      subsidiaries; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | the      payment by way of compensation for loss of office, or as consideration for      or in connection with his retirement from  office. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

| Article    253 | The      contract concerning the emoluments between the Company and its directors      or supervisors should provide that in the event of a takeover of the      Company, the Company’s directors and supervisors shall, subject to the      prior approval of the shareholders in shareholders’ general meeting, have      the right to receive compensation or other payment in respect of his loss      of office or retirement. A takeover of the Company referred to in this      paragraph means any of thefollowing: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | An      offer made by any person to all the  shareholders; |
|--|-----|------------------------------------------------------------|

|  | (2) | An      offer made by any person with a view to the offeror becoming a“controlling      shareholder” within the meaning of Article70. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    254 | With      the approval of shareholders’ general meeting, the Company may buy      liability insurance for directors, supervisors, president and other senior      administrative officers of the Company with the exception of those      liabilities resulting from violation of laws, regulations      and   Articles ofAssociation. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    255 | The      Company shall establish its financial and accounting systems in accordance      with laws, administrative regulations and the PRC accounting standards      formulated by the finance regulatory department of the State      Council. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    256 | At      the end of each fiscal year, the Company shall prepare a financial report,      which shall be examined and verified as provided by  law. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Balance      sheet; |
|--|-----|---------------------|

|  | (2)  | Profit      and loss statement; |
|--|-----------|---------------------------------|

|  | (3)  | Statement      of financial changes; |
|--|-----------|--------------------------------------|

|  | (4)  | Explanation      of financial conditions; |
|--|-----------|-------------------------------------------|

|  | (5)  | Profit      distribution statement. |
|--|-----------|-------------------------------------|

| Article    257 | During      each accounting year, the Board of Directors of the Company shall place      before the shareholders at every annual general meeting such financial      reports as are required by any laws, administrative regulations or      directives promulgated by competent regional and central governmental      authorities to be prepared by theCompany. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    258 | The      Company’s financial reports shall be made available for shareholders’      inspection at the Company twenty days before the date of every annual      general meeting. Each shareholder shall be entitled to obtain a copy of      the financial reports referred to in this  Chapter. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    259 | The      financial statements of the Company shall, in addition to being prepared      in accordance with the PRC accounting standards and regulations, be      prepared in accordance with either international accounting standards, or      that of the place outside the PRC where the Company’s shares are listed.      If there is any material difference between the financial statements      prepared respectively in accordance with the two accounting standards,      such difference shall be stated in the financial statements. When the      Company is to distribute its after-tax profits, the lower of the after-tax      profits as shown in the two financial statements shall be      adopted. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    260 | Any      interim results or financial information published or disclosed by the      Company must also be prepared and presented in accordance with the PRC      accounting standards and regulations, and also in accordance with either      international accounting standards or that of the overseas place where the      Company’s shares are listed. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    261 | The      Company shall publish its quarterly financial report, interim financial      report and annual financial report every fiscal year. The quarterly      reports shall be prepared within thirty days after the first quarter and      the third quarter, respectively. The interim report shall be published      within sixty days after the first six months of the fiscal year and the      annual report shall be published within 120 days after the expiration of      the fiscal year. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    262 | The      Company shall not keep accounts other than those provided by law. Assets      of the Company shall not be deposited in an account maintained in the name      of any individual. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    263 | The      Company’s after-tax profit shall be distributed in accordance with the      following order: |
|----------------|-------------------------------------------------------------------------------------------------------------|

|  | (1) | Making      up for losses; |
|--|-----|----------------------------|

|  | (2)  | Allocation      to the statutory common reservefund; |
|--|-----------|------------------------------------------------------|

|  | (3)  | Allocation      to the discretionary common reservefund; |
|--|-----------|----------------------------------------------------------|

|  | (4)  | Payment      of dividends in respect of ordinaryshares. |
|--|-----------|---------------------------------------------------------|

| Article    264 | When      distributing each year’s after-tax profits, the Company shall set aside      10% of such profits for the Company’s statutory common reserve fund,      except where the accumulated balance of the said fund has reached 50% of      the Company’s registered capital. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article 265 | Capital      common reserve fund includes thefollowing: |
|------------------|---------------------------------------------------------|

|  | (1) | Premium      on shares issued at a premiumprice; |
|--|-----|--------------------------------------------------|

|  | (2) | Any      other income designated for the capital common reserve fund by the      regulations of the finance regulatory department of the State      Council. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    266 | The      common reserve fund of the Company shall be applied to make up losses,      expand the Company’s production and operation or increase the Company’s      capital. However, capital common reserve fund shall not be used to make up      losses. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    267 | Dividends      shall be distributed in accordance with the proportion of shares held by      shareholders. |
|----------------|------------------------------------------------------------------------------------------------------------|

----

| Article 268 | The Company may      distribute dividends in the following manners: (1) cash; (2)      shares. |
|------------------|------------------------------------------------------------------------------------------------|

| Article    269 | After      the profit distribution plan has been resolved at the shareholders’      general meeting, the Board of Directors shall complete the dividend (or      share) distribution within two months after the holding of the general      meeting. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    270 | The      Company shall, in accordance with the PRC tax law, withhold and make      payments on behalf of shareholders in respect of their tax payable on      their dividends income. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    271 | The      Company shall appoint on behalf of the holders of the Overseas Listed      Foreign Shares receiving agents to receive on behalf of such shareholders      dividends declared and all other monies owing by the Company in respect of      their shares. The receiving agents appointed by the Company shall comply      with the relevant requirements of the law of the place and relevant      regulations of the stock exchange where the Company’s shares are listed.      The receiving agents appointed on behalf of holders of Overseas Listed      Foreign Shares listed in Hong Kong (H Shares) shall be a company      registered as a trust company under the Trustee Ordinance of Hong      Kong. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    272 | Dividends      or other payments declared by the Company to be payable to holders of      Domestic Shares shall be declared and calculated in RMB, and paid in RMB;      and those payable to holders of Overseas Listed Foreign Shares shall be      declared and calculated in RMB, and paid in the local currency at the      place where such Overseas Listed Foreign Shares are listed (if there is      more than one place of listing, then the principal place of listing as      determined by the Board of Directors). The conversion formula of foreign      currency is as follows: |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Conversion      price of dividendsor      other sums to holdersin      foreign currency                                              | =      |         Dividends      or other sums to holders in RMB                                                                        |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|
| The      mean of the exchange rates for each unit of the foreigncurrency      against RMB as announced by the People’s Bank of |
|                                                                                                                                 |   | China      for the calendar week preceding the date on which suchdividends      or other sums toholders      are declared by theCompany |

| Article    273 | The      Company shall implement an internal audit system, and shall establish an      internal audit department or retain auditors to conduct internal audit of      its income and expenditure and financial activities under the supervision      of the supervisory committee. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    274 | The      internal audit system and the terms of reference of the auditors are      implemented under the approval of the Board. The auditors are required to      report to the Board. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    275 | The      Company shall appoint an independent accountant firm which is qualified      under the relevant regulations of the State to audit the Company’s annual      report and review the Company’s other financial  reports. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    276 | The      accountant firm appointed by the Company shall hold office from the      conclusion of the annual general meeting until the conclusion of the next      annual general meeting, and the appointment may be  renewed. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article 277 | The      accountant firm appointed by the Company shall have the following      rights: |
|------------------|-----------------------------------------------------------------------------------------|

|  | (1) | A      right to inspect the books, records and vouchers of the Company at any      time, the right to require the directors, president, vice president or      other senior administrative officers of the Company to supply relevant      information and explanation; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | A      right to require the Company to take all reasonable steps to obtain from      its subsidiaries such information and explanation as are necessary for the      purpose of discharging itsduties; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | A      right to attend shareholders’ general meetings and to receive all notices      of, and other communications relating to, any shareholders’ general      meeting which any shareholder is entitled to receive, and to speak at any      shareholders’ general meeting in relation to matters concerning its role      as the Company’s accountantfirm. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    278 | The      company shall provide true and complete accounting evidences, books,      financial and accounting reports and other accounting data to the      accountant it hires without any refusal, withholding and false      information. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    279 | If      there is a vacancy in the position of auditor of the Company, the Board      may engage an accounting firm to fill such vacancy before the convening of      the shareholders’ general meeting. Any other accountant firm which has      been engaged by the Company may continue to act during the period during      such a vacancy exists. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    280 | Notwithstanding      the stipulations in the contract between the Company and the accountant      firm, the shareholders in shareholders’ general meeting may by ordinary      resolution remove an accountant firm before the expiration of its term of      office, but without prejudice to the firm’s right to claim, if any, for      damages in respect of such removal. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    281 | The      remuneration of an accountant firm or the manner in which such firm is to      be remunerated shall be determined by the shareholders in shareholders’      general meeting. The remuneration of an accountant firm appointed by the      Board of Directors shall be determined by the Board of      Directors. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    282 | The      Company’s appointment, removal and non-reappointment of an accountant firm      shall be resolved upon by shareholders in shareholders’ general meeting.      The resolution of the shareholders’ general meeting shall be filed with      the securities governing authority of the State  Council. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | A      copy of the proposal shall be sent before notice of meeting is given to      the shareholders to the accountant firm proposed to be appointed or      proposing to leave its post, or the accountant firm which has left its      post in the relevant fiscal year (leaving includes leaving by removal,      resignation and retirement). |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | If      the accountant firm leaving its post makes representations in writing and      requests the Company to notify such representations to the shareholders,      the Company shall (unless the representations are received too      late): |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | in      any notice of the resolution given to shareholders, state the fact of the      representations having been made;and |
|--|----|-----------------------------------------------------------------------------------------------------------------------------|

|  | 2. | deliver      a copy of the representations to each shareholder who is entitled to      receive the notice of shareholders’ general  meeting. |
|--|----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | If      the accountant firm’s representations are not sent in accordance with      clause (2) of Article 281, the relevant accountant firm may (in addition      to its right to be heard) require that the representations be read out at      the meeting. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (4)  | An      accountant firm which is leaving its post shall be entitled to      attend: |
|--|-----------|-------------------------------------------------------------------------------------|

|  | 1. | the      shareholders’ general meeting at which its term of office would otherwise      have expired; |
|--|----|-------------------------------------------------------------------------------------------------------------|

|  | 2. | any      shareholders’ general meeting at which it is proposed to fill the vacancy      caused by its removal; |
|--|----|----------------------------------------------------------------------------------------------------------------------|

|  | 3. | any      shareholders’ general meeting convened on its  resignation. |
|--|----|----------------------------------------------------------------------------|

| Article    283 | Prior      to the removal or the non-renewal of the appointment of the accountant      firm, notice of such removal or non-renewal shall be given to the      accountant firm and such firm shall be entitled to make representation at      the shareholders’ general meeting. Where the accountant firm resigns its      post, it shall make clear to the shareholders’ general meeting whether      there has been any impropriety on the part of the  Company. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | A      statement to the effect that there are no circumstances connected with its      resignation which it considers should be brought to the notice of the      shareholders or creditors of the Company;or |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | A      statement of any suchcircumstances. |
|--|-----|--------------------------------------------|

----

| Article    284 | Fund      transactions between the Company and controlling shareholders and other      related parties shall be subject to the following    regulations: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Use      of funds of the Company shall be strictly limited during transaction of      operating funds between the Company and controlling shareholders and other      related parties. Controlling shareholders and other related parties shall      not request the Company to pay for their salaries, benefits, insurance and      advertisement during the period, nor shall the parties undertake any cost      or other outgoings for eachother. |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | The      Company shall not directly or indirectly provide funds for use by      controlling shareholders or other related parties  by: |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|  | 1. | lending      the Company’s funds with or without consideration for use by controlling      shareholders or other relatedparties; |
|--|----|----------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | assignment      of loans for related parties through banks or non- banking financial      bodies; |
|--|----|---------------------------------------------------------------------------------------------------|

|  | 3. | entrusting      controlling shareholders or other related parties to carry out      investments; |
|--|----|--------------------------------------------------------------------------------------------------|

|  | 4. | issuance      of commercial acceptance notes without real transactions background for      controlling shareholders or other related  parties; |
|--|----|------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 5. | repaying      debts for controlling shareholders or other related    parties; |
|--|----|-------------------------------------------------------------------------------|

|  | 6.  | other      means as prohibited by China Securities Regulatory Commission. |
|--|----------|---------------------------------------------------------------------------|

|  | (3) | During      auditing work for the Company’s annual financial reports, the certified      public accountants shall, based on the aforesaid regulations, present      their specific explanation on particulars of the usage of fund of the      Company by controlling shareholders or other related parties, while the      Company shall accordingly publish the specific  explanation. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    285 | All      directors of the Company shall perform due diligence on and strictly      control liability risks incurred as a result of external guarantee, and      shall by law accept related liability for loss arising from contravening      or improper external guarantee. Controlling shareholders and other related      parties shall not force the Company to provide guarantee to      others. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    286 | The      Company shall provide external guarantee (including assets pledge) based      on the principles of fairness, willingness, sincerity and mutual benefits.      The procedure for approval of external guarantee provided by the Company      is as follows: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | As      required by the PRC laws and regulations and the listing rules of stock      exchange in the place where the Company’s shares are listed, the Company’s      external guarantee shall be subject to written consent by two thirds of      all members of the Board of Directors or approval from shareholders’      general meetings. Scope of authority of the Board of Directors is provided      in the Company’s “Rules of Procedures for Board of    Directors”; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Prior      to decision on provision of guarantee to external parties (or before it is      submitted to the shareholders’ general meeting for voting), the Board of      Directors of the Company shall be well informed of particulars of the      debtors,andcompletelyanalyseand      fully disclose in relevant announcements the benefits and risks from such      guarantee; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | When      a resolution in relation to external guarantee is to be passed at the      shareholders’ general meeting or by the Board of Directors, any      shareholders or directors that have a conflict of interests with such      guarantee shall abstain fromvoting; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | Where      the Company provides guarantee to any external parties, counter guarantee      or other preventive measures shall be sought from the secured party who in      turn shall be able to undertake the counter  guarantee; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | The      Company shall duly perform its duty to strictly disclose information on      external guarantee according to the relevant provisions of listing rules      and Articles of Association, and shall truthfully provide all information      relating to external guarantee of the Company to the certified public      accountants; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (6) | The      Company’s independent directors shall in the annual report present      specific explanation and independent opinions on the Company’s accumulated      and current external guarantee and implementation of regulations as      referred above. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    287 | Consideration      and approval in the general meeting is required for the following external      guarantees provided by the Company: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------|

|  | (1) | Guarantee      which is given after the total amount of the external guarantee provided      by the Company and its controlling subsidiaries exceeds 50% of net assets      as shown in its latest audited consolidated financial      statement; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Guarantee      which is given after the total amount of external guarantees given by the      Company which is equal to or exceed 50% of the latest audited total assets      of the Company; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | Guarantee      which is provided in favour of an object which has an asset to liability      ratio exceeding 70%; |
|--|-----|-------------------------------------------------------------------------------------------------------------------|

|  | (4) | Guarantee      of which the single guarantee amount exceeds 10% of the latest audited net      assets of the Company; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------|

|  | (5) | Guarantee      which is provided to shareholders, Actual Controller and their respective      connected persons; |
|--|-----|------------------------------------------------------------------------------------------------------------------|

|  | (6) | Any      guarantee that exceeds the approval limit of the Board of      Directors. |
|--|-----|------------------------------------------------------------------------------------|

| Article    288 | The      types of coverage, the insured amounts and periods of the Company’s      insurance shall be decided at a board meeting based on the circumstances      of the Company and the practices of similar industries in other countries      and the practice and legal requirements in  China. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    289 | The      Company shall, in accordance with the relevant provisions of the Labor Law      of People’s Republic of China and other relevant laws or regulations of      the State, formulate its labor and personnel management systems, which      shall be appropriate to its particular  circumstances. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    290 | The      Company shall establish trade union organisations and organise staff and      workers to carry out trade union activities in accordance with the Trade      Union Law of the People’s Republic ofChina. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    291 | In      the event of the merger or division of the Company, a plan shall be      presented by the Company’s Board of Directors and shall be approved in      accordance with the procedures stipulated in   Articles of      Association before processing the relevant examining and approving      formalities as required by law. A shareholder who objects to the plan of      merger or division shall have the right to demand the Company or the      shareholders who consent to the plan of merger or division to acquire that      dissenting shareholder ’s shareholding at a fair price. The contents of      the resolution of merger or division of the Company shall be made into      special documents for shareholders’inspection. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    292 | The      merger of the Company may take the form of either merger by absorption or      merger by the establishment of a newcompany. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------|

| Article 293 | When      the Company is divided, its assets shall be split up      accordingly. |
|------------------|----------------------------------------------------------------------------------|

----

| Article    294 | Changes      in registration particulars of the companies caused by merger or division      must be registered with the companies registration authorities in      accordance with law. Cancellation of a company shall be registered in      accordance with the law when a company is dissolved. Incorporation of a      company shall be registered when a new company is incorporated in      accordance with law. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    295 | The      Company shall be dissolved and liquidated upon the occurrence of any of      the following events: |
|----------------|-------------------------------------------------------------------------------------------------------------|

|  | (1) | A      resolution for dissolution is passed by shareholders at the      shareholders’general      meeting; |
|--|-----|------------------------------------------------------------------------------------------------------------------|

|  | (2)  | Dissolution      is necessary due to a merger or division of the  Company; |
|--|-----------|----------------------------------------------------------------------------|

|  | (3) | The      Company is legally declared insolvent due to its failure to repay debts      due; |
|--|-----|--------------------------------------------------------------------------------------------|

|  | (4) | The      Company is ordered to close down or withdraw because of its violation of      laws and administrativeregulations; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------|

|  | (5) | Other      reasons of dissolution specified by the laws and regulations of the PRC      and Articles of Association. |
|--|-----|----------------------------------------------------------------------------------------------------------------------|

| Article    296 | Where      the company is dissolved under clause (1), (2) of Article 294, liquidation      must commence with the establishment of a liquidation committee within 15      days. Members of the liquidation committee shall be appointed by the      shareholders in a shareholders’ general meeting. If a liquidation      committee is not established within the stipulated period, the creditors      can apply to the People’s Court, requesting the court to appoint relevant      personnel to form the liquidationcommittee. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    297 | Where      the Board of Directors proposes to liquidate the Company due to causes      other than where the Company has declared that it is insolvent, it shall      include a statement in its notice convening a shareholders’ general      meeting to consider the proposal to the effect that, after making full      inquiry into the affairs of the Company, the Board of Directors is of the      opinion that the Company will be able to pay its debts in full within      twelve months from the commencement of the  liquidation. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    298 | The      liquidation committee shall within ten days of its establishment send      notice to creditors, and shall within sixty days of its establishment      publish a public notice in a newspaper at least three times. A creditor      shall within thirty days of receiving the notice, or for any creditors who      do not receive the notice, within forty-five days of the date of the first      public notice, report his creditors’ rights to the liquidation      committee. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article    299 | During      the liquidation period, the liquidation committee shall exercise the      following functions and powers: |
|----------------|-----------------------------------------------------------------------------------------------------------------------|

|  | (1) | To      sort out the Company’s assets and prepare a balance sheet and an inventory      of assets respectively; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------|

|  | (2)  | To      send notices to creditors or notify them by public  notice; |
|--|-----------|---------------------------------------------------------------------|

|  | (3) | To      dispose of and liquidate any relevant unfinished business matters of the      Company; |
|--|-----|------------------------------------------------------------------------------------------------|

|  | (4)  | To      pay all outstanding taxes; |
|--|-----------|------------------------------------|

|  | (5)  | To      settle claims and debts; |
|--|-----------|----------------------------------|

|  | (6) | To      deal with the assets remaining after the Company’s debts have been      repaid; |
|--|-----|-----------------------------------------------------------------------------------------------|

|  | (7)  | To      represent the Company in any civil litigation  proceedings. |
|--|-----------|---------------------------------------------------------------------|

| Article    300 | After      sorting out the Company’s assets and the preparation of the balance sheet      and an inventory of assets, the liquidation committee shall formulate a      liquidation plan and represent it to the shareholders’ general meeting or      the People’s Court      for confirmation. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    301 | If      after putting the Company’s assets in order and preparing a balance sheet      and an inventory of assets in connection with the liquidation of the      Company resulting from dissolution, the liquidation committee discovers      that the Company’s assets are insufficient to repay the Company’s debts in      full, the liquidation committee shall immediately apply to the People’s      Court for a declaration ofinsolvency. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    302 | Following      the completion of liquidation, the liquidation committee shall present a      report on liquidation and prepare a statement of the receipts and payments      during the period of liquidation and financial books and records which      shall be audited by Chinese registered accountants and submitted to the      shareholders’ general meeting or the People’s Court for      confirmation. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    303 | Members      of the liquidation committee shall perform their duty honestly and      discharge the obligation of liquidation in accordance with      laws. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    304 | The      Company may amend its Articles of Association in accordance with the      requirement of laws, administrative regulations and the Articles of      Association. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article 305 | The      Company shall act according to following principles to settle      disputes: |
|------------------|---------------------------------------------------------------------------------------|

|  | (1) | Whenever      any disputes or claims arising between holders of Overseas Listed Foreign      Shares and the Company, between holders of Overseas Listed Foreign Shares      and the Company’s directors, supervisors, president or other senior      administrative officers, or between holders of Overseas Listed Foreign      Shares and holders of Domestic Shares based on   Articles      of Association or any rights or obligations conferred or imposed      by the Company Law or any other relevant PRC laws and administrative      regulations concerning the affairs of the Company, such disputes or claims      shall be referred by the relevant parties to arbitration. Where a dispute      or claim of rights just mentioned is referred to arbitration, the entire      claim or dispute must be referred to arbitration, and all parties who have      a cause of action based on the same facts giving rise to the dispute or      claim or whose participation is necessary for the resolution of such      dispute or claim shall abide by the arbitration, provided that such      parties shall be the Company or the Company’s shareholder, director,      supervisor, president or other senior administrative    officer. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | (2) | A      claimant may elect arbitration at either the China International Economic      and Trade Arbitration Commission in accordance with its Arbitration Rules      or the Hong Kong International Arbitration Center in accordance with its      Securities Arbitration Rules. Once a claimant refers a dispute or claim to      arbitration, the other party must submit to the arbitral body elected by      the claimant. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (3) | If      any disputes or claims of rights are settled by way of arbitration in      accordance with clause (1) of Article 304, the laws of the People’s      Republic of China shall apply, save as otherwise provided by laws and      administrative regulations. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (4) | The      award of an arbitration body shall be final and conclusive and binding on      all parties. |
|--|-----|------------------------------------------------------------------------------------------------------|

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| Article    307 | Where      a notice is served by way of announcement, after the publication of such      announcement, all related persons shall be deemed to have received the      relevant notice. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    308 | Where      a notice is served by hand, the addressee shall be required to sign his      name (or affix his chop) on the receipt, and the date on which the      addressee signs the receipt shall be the date of service. Where a notice      is sent by post, the notice shall be served by putting the notice into a      properly addressed, prepaid postage envelope and depositing the same in a      mail box. Such notice shall be deemed to have been served upon expiration      of 48 hours after the envelope containing the notice has been posted.      Where a notice is served by way of announcement, the date on which the      announcement firstly published shall be deemed as the date of      service. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    309 | Any      notices, documents, information or written statements issued by      shareholders or directors to the Company shall be personally delivered or      sent by registered mail to the legal address of the    Company. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    310 | In      order to prove that such notices, documents, information or written      statements have been already sent, shareholders or directors shall provide      evidence to prove that such notice, document, information or written      statement have been sent within the prescribed time in the normal way of      sending with postage prepaid to the correct address of the      Company. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    311 | If      a notice of meeting is accidentally omitted to be sent to a person who is      entitled to receive the notice or if such person has not received the      notice of meeting, the meeting and any resolutions made therein shall not      become void thereby. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    312 | The      Company appointed China Securities Journal, Shanghai Securities Journal,      Hong Kong Commercial Daily and China Daily as the media to publish the      announcements and other information of the  Company. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    313 | The      Board of Directors shall be responsible for the interpretation      of   Articles of Association. Where there are matters not      contained in   Articles of      Association,   matters shall be passed by way of special      resolution at the shareholders’ general meeting as proposed by the Board      of Directors. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    314 | The      Company shall formulate the “Rules of Procedures for Shareholders’ General      Meetings”, “Rules of Procedures for Board Meetings” and “Rules of      Procedures for Supervisory Committee Meetings” in accordance with the      requirements of   Articles of      Association.   rules of procedures shall be as attachments      of   Articles of Association and shall take effect and be      amended upon approval of the shareholders’ general meeting of the      Company. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Article    315 | In   Articles      of Association, the following terms have the following      meanings: |
|----------------|---------------------------------------------------------------------------------------------------------|

| “  Articles      of Association” | refers      to the existing Articles of Association of the Company;                                                                                                                                                                                                                                                                                                                                               |
|--------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Board      of Directors”                  |  refers      to the Board of Directors of the Company;                                                                                                                                                                                                                                                                                                                                                       |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “PRC”                                      |  refers      to the People’s Republic of China;                                                                                                                                                                                                                                                                                                                                                        |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “RMB”                                      | refers      to the legal tender of China;                                                                                                                                                                                                                                                                                                                                                                         |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Seal”                                     | refers      to the ordinary seal used from time to time by the Company and the      official seal maintained by the Company (if any), or one of the two      depending upon the circumstances;                                                                                                                                                                                                                    |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Actual      Controllers”                  | refers      to those who, though not shareholders of the Company, can actually control      the activities of the Company through investment relationship, agreement      or other arrangement;                                                                                                                                                                                                                   |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Connected      Relationship”              | refers      to the relationships between controlling shareholders, Actual Controllers,      directors, supervisors, senior administrative officers of the Company and      their directly or indirectly controlled enterprises, and other      relationships that may lead to the transfer of interests of the Company.      However, there is no connected relationship among State controlled      enterprises. |

| Article    316 | In   Articles      of Association, a sum and above include such sum while more than a sum or      less than a sum does not include such asum. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article    317 | In   Articles      of Association, the meaning of an accountant firm is the same as that of      “auditors”. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------|

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