# EDGAR Filing Document

**Accession Number:** 0002023311
**File Stem:** 0001213900-26-060305
**Filing Date:** 2026-5
**Character Count:** 269777
**Document Hash:** 2db7b6e873bfaa916652e8300985bc23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-060305.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0001213900-26-060305

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 9

**CONFORMED PERIOD OF REPORT**: 20260522

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ASCENTAGE PHARMA GROUP INTERNATIONAL
- **CENTRAL INDEX KEY:** 0002023311
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42484
- **FILM NUMBER:** 261010799

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 68 XINQING ROAD
- **STREET 2:** SUZHOU INDUSTRIAL PARK
- **CITY:** SUZHOU , JIANGSU
- **PROVINCE COUNTRY:** F4
- **BUSINESS PHONE:** 86 512 8555 7777

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 68 XINQING ROAD
- **STREET 2:** SUZHOU INDUSTRIAL PARK
- **CITY:** SUZHOU , JIANGSU
- **PROVINCE COUNTRY:** F4

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**Form 6-K**

**Report of Foreign Private Issuer**

**Pursuant to Rule 13a-16 or 15d-16**

**under the Securities Exchange Act of 1934**

For the month of **May 2026**

**Commission File Number: 001-42484**

**ASCENTAGE PHARMA GROUP INTERNATIONAL**

*(Translation of Registrant's name into English)*

**68 Xinqing Road**

**Suzhou Industrial Park**

**Suzhou, Jiangsu**

**China**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

**EXPLANATORY NOTE**

On May 20, 2026, Ascentage Pharma Group International issued the announcement entitled "Poll Results of the Annual General Meeting Held on May 20, 2026". On May 21, 2026, Ascentage Pharma Group International issued the announcement entitled "The Companies Act (As Amended) Company Limited by Shares Third Amended And Restated Memorandum of Association of Ascentage Pharma Group International" and the press release entitled "Ascentage Pharma Releases Latest Clinical Data from Multiple Trials at ASCO 2026". On May 22, 2026, Ascentage Pharma Group International issued an announcement entitled "Ascentage Pharma Releases Latest Clinical Data From Multiple Trials at ASCO 2026". A copy of the announcements and press release are furnished as Exhibits 99.1, 99.2, 99.3, and 99.4.

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | <br>**Exhibit Title** |
| 99.1 | [Poll Results Announcement dated May 20, 2026](ea029178201ex99-1.htm) |
| 99.2 | [Third Amended And Restated Memorandum of Association Announcement dated May 21, 2026](ea029178201ex99-2.htm) |
| 99.3 | [Clinical Trial Press release dated May 21, 2026](ea029178201ex99-3.htm) |
| 99.4 | [Clinical Trial Announcement dated May 22, 2026](ea029178201ex99-4.htm) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ASCENTAGE PHARMA GROUP INTERNATIONAL** | **ASCENTAGE PHARMA GROUP INTERNATIONAL** |
| Date: May 22, 2026 | */s/ Dajun Yang* | */s/ Dajun Yang* |
|  | Name: | Dajun Yang |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

*Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.*

![](ea029178201_ex99-1img1.jpg)

**ASCENTAGE PHARMA GROUP INTERNATIONAL**

**亞 盛 醫 藥 集 團**

*(Incorporated in the Cayman Islands with limited liability)*

**(Stock Code: 6855)**

**POLL RESULTS OF THE ANNUAL GENERAL MEETING HELD ON MAY 20, 2026**

The Board is pleased to announce that all the proposed resolutions as set out in the AGM Notices dated April 28, 2026 and dated April 30, 2026 were duly passed by the Shareholders of the Company at the AGM held on May 20, 2026 by way of poll.

Reference is made to the circular of Ascentage Pharma Group International (the "**Company**") dated April 28, 2026 and the supplemental circular of the Company dated April 30, 2026 (collectively, the "**AGM Circulars**") and the notice of the annual general meeting (the "**AGM**") of the Company dated April 28, 2026 and the supplemental notice of the AGM of the Company dated April 30, 2026 (collectively, the "**AGM Notices**"). Terms used in this announcement shall have the same meanings as those defined in the AGM Circulars and the AGM Notices unless the context requires otherwise.

**POLL RESULTS OF THE AGM**

As at the date of the AGM, the number of Shares in issue was 373,348,863 Shares, which was the total number of Shares entitling the Shareholders to attend and vote for or against all the resolutions proposed at the AGM.

As disclosed in the section titled "**Implications under the Listing Rules**" in the Supplemental AGM Circular, Dr. Yang Dajun ("**Dr. Yang**") is an executive Director and the chief executive officer of the Company, and Dr. Zhai Yifan ("**Dr. Zhai**") is the chief medical officer and a substantial shareholder of the Company. Pursuant to Rules 17.04(2) and 17.04(4) of the Listing Rules, as the Shares issued and to be issued in respect of all RSUs and Options conditionally granted (excluding any options and awards lapsed in accordance with the term of the share schemes adopted by the Company) to Dr. Yang and Dr. Zhai would, in the 12-month period up to and including the date of the Proposed Grants to Dr. Yang and Dr. Zhai representing in aggregate over 0.1% of the total issued share capital of the Company (excluding treasury shares and assuming there will be no change to the total issued share capital from the date of the Supplemental Circular up to the exercise of the RSUs and Options granted to the grantees under the 2022 RSU Scheme and Post-IPO Share Option Scheme other than the abovementioned allotment and issuance of Shares by the Company to the grantees). The Proposed Grants to Dr. Yang and Dr. Zhai is subject to the approval by the Independent Shareholders, and Dr. Yang, Dr. Zhai, and their associates shall abstain from voting in favour of the relevant resolution(s) on the grant of RSU and Options to themselves at the AGM pursuant to the Listing Rules. Accordingly, Dr. Yang and Dr. Zhai, their associates and all core connected persons of the Company (holding of 60,998,117 Shares representing approximately 16.34% of the issued Shares, as at the date of AGM) must abstain from voting in favour of the resolutions approving Resolutions Nos. 9 and 10 in respect of the grant of RSUs and Options to Dr. Yang and Dr. Zhai.

Saved as disclosed above, there were no Shareholders who were entitled to attend the AGM but were required to abstain from voting in favour of any of the resolutions proposed at the AGM as set out in Rule 13.40 of the Listing Rules. Saved as disclosed above, no Shareholder was required to abstain from voting on any of the resolutions proposed at the AGM. No Shareholder was entitled to attend and vote only against any of the resolutions proposed at the AGM. No parties had stated their intention in the AGM Circulars to vote against or to abstain from voting on any of the resolutions at the AGM.

The Board is pleased to announce that all the proposed resolutions as set out in the AGM Notices were duly passed by the Shareholders by way of poll at the AGM. The poll results of all the resolutions proposed at the AGM are as follows:

---

| | | | |
|:---|:---|:---|:---|
| <br> **Ordinary Resolutions**\* | <br> **Ordinary Resolutions**\* | **Number of votes cast**<br> **(approximate percentage of total number of votes)** | **Number of votes cast**<br> **(approximate percentage of total number of votes)** |
| <br> **Ordinary Resolutions**\* | <br> **Ordinary Resolutions**\* | **For** | &nbsp;&nbsp;&nbsp;&nbsp;**Against** |
| 1. | To consider and adopt the audited consolidated financial statements of the Company and the reports of the Directors and the auditor for the year ended December 31, 2025. | 85,580,809<br> (99.95%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,000<br> (0.05%) |
| 2(a). | To re-elect Dr. Wang Shaomeng as a Non-executive Director. | 85,580,808<br> (99.95%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,000<br> (0.05%) |
| 2(b). | To re-elect Dr. Lu Simon Dazhong as a Non-executive Director. | 84,501,778<br> (98.69%) | &nbsp;&nbsp;&nbsp;&nbsp; 1,119,030<br> (1.31%) |
| 2(c). | To re-elect Dr. David Sidransky as an Independent Non-executive Director. | 85,346,659<br> (99.68%) | &nbsp;&nbsp;&nbsp;&nbsp; 274,150<br> (0.32%) |
| 3. | To authorize the Board to fix the Directors' remuneration. | 85,526,934<br> (99.89%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,874<br> (0.11%) |
| 4. | To re-appoint Ernst &Young as auditor of the Company, to hold office until the conclusion of the next annual general meeting of the Company, and to authorize the Board to fix their remuneration. | 85,580,808<br> (99.95%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,000<br> (0.05%) |
| 5. | To grant a general mandate to the Directors to allot, issue and deal with new shares of the Company with an aggregate number of not exceeding 20% of the total number of shares of the Company in issue (excluding Treasury Shares, if any) as at the date of the passing of the relevant resolution at the AGM. | 71,785,915<br> (83.84%) | &nbsp;&nbsp;&nbsp;&nbsp; 13,834,893<br> (16.16%) |

---

---

| | | | |
|:---|:---|:---|:---|
| <br> **Ordinary Resolutions**\* | <br> **Ordinary Resolutions**\* | **Number of votes cast**<br> **(approximate percentage of total number of votes)** | **Number of votes cast**<br> **(approximate percentage of total number of votes)** |
| <br> **Ordinary Resolutions**\* | <br> **Ordinary Resolutions**\* | **For** | &nbsp;&nbsp;&nbsp;&nbsp;**Against** |
| 6. | To grant a general mandate to the Directors to repurchase the Company's shares with a total number of not more than 10% of the total number of shares of the Company in issue (excluding Treasury Shares, if any) as at the date of the passing of the relevant resolution at the AGM. | 85,580,808<br> (99.95%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,000<br> (0.05%) |
| 7. | To extend the general mandate granted to the Directors under resolution 5 by an amount representing the aggregate number of the Company's shares repurchased by the Company under resolution 6, provided that such amount shall not exceed 10% of the total number of shares of the Company in issue as at the date of the passing of the relevant resolution at the AGM. | 71,986,115<br> (84.08%) | &nbsp;&nbsp;&nbsp;&nbsp; 13,634,693<br> (15.92%) |
| **Special Resolution\*** | **Special Resolution\*** |  |  |
| 8. | To approve the proposed amendments to the existing memorandum and articles of association of the Company and to adopt a new amended and restated memorandum and articles of association of the Company. | 83,647,517<br> (97.70%) | &nbsp;&nbsp;&nbsp;&nbsp; 1,973,291<br> (2.30%) |
| **Ordinary Resolutions\*** | **Ordinary Resolutions\*** |  |  |
| 9. | To consider and approve the proposed grants of RSUs to Dr. Yang and Dr. Zhai under the 2022 RSU Scheme. | 71,978,131<br> (84.07%) | &nbsp;&nbsp;&nbsp;&nbsp; 13,642,677<br> (15.93%) |
| 10. | To consider and approve the proposed grants of Options to Dr. Yang and Dr. Zhai under the Post-IPO Share Option Scheme. | 71,978,131<br> (84.07%) | &nbsp;&nbsp;&nbsp;&nbsp; 13,642,677<br> (15.93%) |

---

\* *The full text of the resolutions is set out in the AGM Notices.*

Tricor Investor Services Limited, the Company's Hong Kong Branch Share Registrar, acted as the scrutineer at the AGM for the purpose of vote-taking. As more than 50% of the votes were cast in favour of each of the resolutions 1 to 7 and 9 to 10, these resolutions were duly passed as ordinary resolutions at the AGM. As more than 75% of the votes were cast in favour of resolution 8, the resolution was duly passed as a special resolution at the AGM. The following Directors attended the AGM either in person or by electronic means: Dr. Yang Dajun, Dr. Wang Shaomeng, Dr. Lu Simon Dazhong, Mr. Ye Changqing and Mr. Ren Wei.

---

| |
|:---|
| By order of the Board |
| **Ascentage Pharma Group International<br> Dr. Yang Dajun** |
| *Chairman and Executive Director* |

---

Suzhou, People's Republic of China, May 20, 2026

As at the date of this announcement, the Board comprises Dr. Yang Dajun as Chairman and executive Director, Dr. Wang Shaomeng and Dr. Lu Simon DazhongNote 1 as non-executive Directors, and Mr. Ye Changqing, Mr. Ren Wei, Dr. David Sidransky Note 2, Ms. Marina S. Bozilenko, Dr. Debra Yu and Dr. Marc E. Lippman, MD as independent non-executive Directors.

*Notes:*

 

*1.* *Dr. Lu Simon Dazhong satisfy the independence requirements of the U.S. Securities and Exchange Commission and Nasdaq corporate governance requirements.* 

 

*2.* *Dr. David Sidransky is the Lead Independent Non-Executive Director of the Company.*

## Exhibit 99.2

**Exhibit 99.2**

**THE COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**ASCENTAGE PHARMA GROUP INTERNATIONAL**

**亞 盛 醫 藥 集 團**

**(ADOPTED BY SPECIAL RESOLUTION DATED MAY 20, 2026)**

**THE COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**ASCENTAGE PHARMA GROUP INTERNATIONAL**

**亞 盛 醫 藥 集 團**

**(ADOPTED BY SPECIAL RESOLUTION DATED MAY 20, 2026)**

1. The name of the company is Ascentage Pharma Group International 亞盛醫藥集團 (the "**Company** ").

2. The registered office of the Company is situated at the offices of Walkers Corporate
Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9008, Cayman Islands or at such other location as the Directors may from time
to time determine.

3. The objects for which the Company is established are unrestricted and except as
prohibited or limited by the laws of the Cayman Islands, the Company shall have full power and authority to carry out any object and shall
have and be capable of from time to time and at all times exercising any and all of the powers at any time or from time to time exercisable
by a natural person or body corporate in any part of the world whether as principal, agent, contractor or otherwise.

4. Without prejudice to the generality of the foregoing, the objects of the Company
shall include, but without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To carry on the business of an investment company and for
that purpose to acquire and hold, either in the name of the Company or in that of any nominee, land and real estate, gold and silver
bullion, shares (including shares in the Company), stocks, debentures, debenture stock, bonds, notes, obligations and securities issued
or guaranteed by any company wherever incorporated or carrying on business and debentures, debenture stock, bonds, notes, obligations
and securities issued or guaranteed by any government, sovereign, ruler, commissioners, public body or authority, supreme, dependent,
municipal, local or otherwise in any part of the world.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To lend money with or without security either at interest
or without and to invest money of the Company in such manner as the Directors think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To acquire by purchase, lease, exchange, or otherwise lands,
houses, buildings and other property or any interest in the same in any part of the world.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To carry on the business of a commodity, commodity futures
and forward contracts trader and for that purpose to enter into spot, future or forward contracts for the purchase and sale of any commodity
including, but without prejudice to the generality of the foregoing, any raw materials, processed materials, agricultural products, produce
or livestock, gold and silver bullion, specie and precious or semi-precious stones, goods, articles, services, currencies, rights and
interests which may now or in the future be bought and sold in commerce and whether such trading is effected on an organised commodity
exchange or otherwise and either to take delivery of, or to sell or exchange any such commodities pursuant to any contract capable of
being entered into on any such commodities exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To carry on whether as principals, agents or otherwise the
business of providing and supplying goods, equipment, materials and services of whatsoever nature, and of financiers, company promoters,
realtors, financial agents, land owners and dealers in or managers of companies, estates, lands, buildings, goods, materials, services,
stocks, leases, annuities and securities of whatsoever type or kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) To purchase or otherwise acquire and hold any rights, privileges,
concessions, patents, patent rights, licences, secret processes and any real or personal property of any kind whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) To build, equip, furnish, outfit, repair, purchase, own, charter
and lease steam, motor, sail or other vessels, ships, boats, tugs, barges, lighters or other property to be used in the business of shipping,
transportation, chartering and other communication and transport operations for the use of the Company or for others, and to sell, charter,
lease, mortgage, pledge or transfer the same or any interest therein to others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To carry on the business of importers, exporters and merchants
of goods, produce, stores and articles of all kinds both wholesale and retail, packers, customs brokers, ship agents, warehousemen, bonded
or otherwise and carriers and to transact every kind of agency, factor and brokerage business or transaction which may seem to the Company
directly or indirectly conducive to its interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To carry on the business of consultants in connection with
all manner of services and advisers on all matters relating to companies, firms, partnerships, charities, political and non-political
persons and organisations, governments, principalities, sovereign and republican states and countries and to carry on all or any of the
businesses of financial, industrial, development, architectural, engineering, manufacturing, contracting, management, advertising, professional
business and personal consultants and to advise upon the means and methods for extending, developing, marketing and improving all types
of projects, developments, businesses or industries and all systems or processes relating to such businesses and the financing, planning,
distribution, marketing and sale thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) To act as a management company in all branches of that activity
and without limiting the generality of the foregoing, to act as managers of investments and hotels, estates, real property, buildings
and businesses of every kind and generally to carry on business as managers, consultants or agents for or representatives of owners of
property of every kind, manufacturers, funds, syndicates, persons, firms and companies for any purpose whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) To carry on any other trade or business which may seem to
the Company capable of being carried on conveniently in connection with any business of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) To borrow or raise money by the issue of ordinary debenture
stock or on mortgage or in such other manner as the Company shall think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) To draw, make, accept, endorse, discount, execute and issue
all instruments both negotiable and non-negotiable and transferable including promissory notes, bills of exchange, bills of lading, warrants,
debentures and bonds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) To establish branches or agencies in the Cayman Islands and
elsewhere and to regulate and to discontinue the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) To distribute any of the property of the Company among the
members of the Company in specie.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) To acquire and take over the whole or any part of the business,
property and liabilities of any person or persons, firm or company or to take or otherwise acquire and hold shares, stock, debentures
or other securities of or interest in any other company carrying on any business or possessed of any property or rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) To grant pensions, allowances, gratuities and bonuses to employees
or ex-employees of the Company or the dependents of such persons and to support, establish or subscribe to any charitable or other institutions,
clubs, societies or funds or to any national or patriotic fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) To lend and advance moneys or give credit to such persons
and on such terms as may be thought fit and to guarantee or stand surety for the obligations of any third party whether such third party
is related to the Company or otherwise and whether or not such guarantee or surety is to provide any benefits to the Company and for
that purpose to mortgage or charge the Company's undertaking, property and uncalled capital or any part thereof, on such terms
and conditions as may be thought expedient in support of any such obligations binding on the Company whether contingent or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) To enter into partnership or into any arrangements for sharing
profits, union of interests, co-operation, joint venture, reciprocal concession, amalgamation or otherwise with any person or persons
or company engaged or interested or about to become engaged or interested in the carrying on or conduct of any business or enterprise
from which this Company would or might derive any benefit whether direct or indirect and to lend money, guarantee the contracts of or
otherwise assist any such person or company and to take subscribe for or otherwise acquire shares and securities of any such company
and to sell, hold, re issue with or without guarantee or otherwise deal with the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) To enter into any arrangements with any authorities, municipal
or local or otherwise and to obtain from any such authority any rights, privileges or concessions which the Company may think it desirable
to obtain and to carry out, exercise and comply with any such arrangements, rights, privileges or concessions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) To do all such things as are incidental to or which the Company
may think conducive to the attainment of the above objects or any of them.

5. If the Company is registered as an exempted company as defined in the Cayman Islands
Companies Act, it shall have the power, subject to the provisions of the Cayman Islands Companies Act and with the approval of a special
resolution, to continue as a body incorporated under the laws of any jurisdiction outside of the Cayman Islands and to be de-registered
in the Cayman Islands.

6. The Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance
of the business of the Company carried on outside the Cayman Islands; provided that nothing in this section shall be construed as to prevent
the Company effecting and concluding contracts in the Cayman Islands, and exercising in the Cayman Islands all of its powers necessary
for the carrying on of its business outside the Cayman Islands.

7. The liability of the members of the Company is limited to the amount, if any, unpaid
on the shares respectively held by them.

8. The authorised share capital of the Company is **US$50,000** consisting of **500,000,000** shares
of a nominal or par value of **US$0.0001** each with the power for the Company to increase or reduce the said capital and to issue
any part of its capital, original or increased, with or without any preference, priority or special privilege or subject to any postponement
of rights or to any conditions or restrictions; and so that, unless the condition of issue shall otherwise expressly declare, every issue
of shares, whether declared to be preference or otherwise, shall be subject to the power hereinbefore contained.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **ARTICLE** | **PAGE** |
| TABLE A | 1 |
| INTERPRETATION | 1 |
| SHARES, WARRANTS AND MODIFICATION OF RIGHTS | 7 |
| REGISTER OF SHAREHOLDERS AND SHARE CERTIFICATES | 11 |
| LIEN | 13 |
| CALLS ON SHARES | 13 |
| TRANSFER OF SHARES | 15 |
| TRANSMISSION OF SHARES | 17 |
| FORFEITURE OF SHARES | 17 |
| TREASURY SHARES | 19 |
| GENERAL MEETINGS | 19 |
| PROCEEDINGS AT GENERAL MEETINGS | 23 |
| VOTES OF SHAREHOLDERS | 25 |
| APPOINTMENT OF PROXY AND CORPORATE REPRESENTATIVE | 27 |
| REGISTERED OFFICE | 30 |
| BOARD OF DIRECTORS | 30 |
| APPOINTMENT AND ROTATION OF DIRECTORS | 35 |
| BORROWING POWERS | 36 |
| MANAGING DIRECTORS, ETC | 37 |
| MANAGEMENT | 38 |
| MANAGERS | 38 |
| CHAIRMAN AND OTHER OFFICERS | 38 |
| PROCEEDINGS OF THE DIRECTORS | 39 |
| MINUTES AND CORPORATE RECORDS | 41 |
| SECRETARY | 41 |
| GENERAL MANAGEMENT AND USE OF THE SEAL | 41 |
| AUTHENTICATION OF DOCUMENTS | 43 |
| CAPITALISATION OF RESERVES | 43 |
| DIVIDENDS AND RESERVES | 44 |
| RECORD DATE | 50 |
| ANNUAL RETURNS | 50 |
| ACCOUNTS | 51 |
| AUDITORS | 52 |
| NOTICES | 52 |
| INFORMATION | 55 |
| WINDING UP | 55 |
| INDEMNITY | 56 |
| UNTRACEABLE SHAREHOLDERS | 56 |
| DESTRUCTION OF DOCUMENTS | 57 |
| SUBSCRIPTION RIGHT RESERVE | 58 |
| STOCK | 60 |

---

i

**THE COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**ASCENTAGE PHARMA GROUP INTERNATIONAL**

**亞 盛 醫 藥 集 團**

**(ADOPTED BY SPECIAL RESOLUTION DATED MAY 20, 2026) TABLE A**

1. Table "A" of the Companies Act (as revised) shall not apply to the Company.

**INTERPRETATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any marginal notes, titles or lead in references to Articles and the index of the
Memorandum and Articles of Association shall not form part of the Memorandum or Articles of Association and shall not affect their interpretation.
In interpreting these Articles of Association, unless there be something in the subject or context inconsistent therewith:

"**address**" shall have the ordinary meaning given to it and shall include any facsimile number, electronic number or address or website used for the purposes of any communication pursuant to these Articles;

"**appointor**" means in relation to an alternate Director, the Director who appointed the alternate to act as his alternate;

"**Articles**" means these Articles of Association in their present form and all supplementary, amended or substituted articles for the time being in force;

"**Auditors**" means the persons appointed by the Company from time to time to perform the duties of auditors of the Company;

"**Board**" means the board of Directors of the Company as constituted from time to time or as the context may require the majority of Directors present and voting at a meeting of the Directors at which a quorum is present;

"**Branch Register**" means any branch register in respect of any category or categories of Shareholders of the Company established by the Company in accordance with the Companies Act;

"**Call**" shall include any instalment of a call;

"**Clearing House**" means a clearing house recognised by the laws of the jurisdiction in which the Shares of the Company are listed or quoted with the permission of the Company on a stock exchange in such jurisdiction;

"**Close Associate(s)**" shall have the meaning as defined in the Listing Rules;

"**Companies Act**" means the Companies Act (as amended) of the Cayman Islands;

"**Companies Ordinance**" means the Companies Ordinance, Cap. 622 of the Laws of Hong Kong as amended from time to time;

"**Company**" means the above named company;

"**Debenture**" and "**Debenture Holder**" means and includes respectively debenture stock and debenture stockholder;

"**Directors**" means such person or persons as shall be appointed to the Board from time to time;

"**Dividend**" means dividends, distributions in specie or in kind, capital distributions and capitalisation issues;

"**electronic communication**" means a communication sent, transmitted, conveyed and received by wire, by radio, by optical means or by other electromagnetic means in any form through any medium;

"**electronic meeting**" means a general meeting held and conducted wholly and exclusively by virtual attendance and participation by Shareholders and/or proxies by means of electronic facilities;

"**Head Office**" means such office of the Company as the Board may from time to time determine to be the principal office of the Company;

"**HK Stock Exchange**" means The Stock Exchange of Hong Kong Limited;

"**HK$**" or "**Hong Kong dollars**" means Hong Kong dollars, the lawful currency for the time being of Hong Kong;

"**Holding Company**" has the meaning ascribed to it by Section 13 of the Companies Ordinance;

"**Hong Kong**" means the Hong Kong Special Administrative Region of the People's Republic of China;

"**hybrid meeting**" means a general meeting held and conducted by (i) physical attendance by Shareholders and/or proxies at the Principal Meeting Place and, where applicable, one or more other Meeting Locations and (ii) virtual attendance and participation by Shareholders and/or proxies by means of electronic facilities;

"**Listing Rules**" shall mean the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (as amended from time to time);

"**Meeting Location**" and "**Meeting Locations**" have the meanings ascribed to them in Article 67;

"**Month**" means a calendar month;

"**Newspapers**" means at least one English language daily newspaper and at least one Chinese language daily newspaper, in each case published and circulating generally in the Relevant Territory and specified or not excluded for this purpose by the stock exchange in the Relevant Territory;

"**Ordinary Resolution**" means a resolution as described in Article 1(c)(ii) of these Articles;

"**Paid**" means, as it relates to a Share, paid or credited as paid;

"**Person**" means any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having a separate legal personality) or any of them as the context so requires, other than in respect of a Director or Officer in which circumstances Person shall mean any person or entity permitted to act as such in accordance with the laws of the Cayman Islands;

"**physical meeting**" means a general meeting held and conducted by physical attendance and participation by Shareholders and/or proxies at the Principal Meeting Place and/or, where applicable, one or more other Meeting Locations;

"**Principal Meeting Place**" has the meaning ascribed to it in Article 76; "**Principal Register**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where the Company has not established one or more Branch Registers
pursuant to the Companies Act and these Articles, the register of Members of the Company required to be kept pursuant to the Companies
Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where the Company has established one or more Branch Registers pursuant to the Companies Act and these
Articles, the Register maintained by the Company pursuant to the Companies Act and these Articles that is not designated by the Directors
as a Branch Register.

"**Register**" means the Principal Register and any Branch Register of Shareholders of the Company to be maintained at such place within or outside the Cayman Islands as the Board shall determine from time to time;

"**Registered Office**" means the registered office of the Company for the time being as required by the Companies Act;

"**Registration Office**" means such place or places in the Relevant Territory or elsewhere where the Board from time to time determine to keep a Branch Register and where (except in cases where the Board otherwise agrees) transfers or other documents of title for the applicable Shares are to be lodged for registration and are to be registered;

"**Relevant Period**" means the period commencing from the date on which any of the securities of the Company first become listed on the HK Stock Exchange to and including the date immediately before the day on which none of such securities are so listed (and so that if at any time listing of any such securities is suspended for any reason whatsoever and for any length of time, they shall nevertheless be treated, for the purpose of this definition, as listed);

"**Relevant Territory**" means Hong Kong or such other territory where any of the securities of the Company is listed on a stock exchange in that territory;

"**Seal**" means the common seal of the Company;

"**Secretary**" means any Person for the time being performing the duties of that office of the Company and includes any assistant, deputy, acting or temporary secretary;

"**Securities Seal**" means a seal for use for sealing certificates for shares or other securities issued by the Company which is a facsimile of the Seal of the Company with the addition on its face of the words Securities Seal;

"**Share**" means a share in the share capital of the Company and includes stock except where a distinction between stock and Shares is expressed or implied. All references to "Shares" herein shall be deemed to be Shares of any or all Classes or Series as the context may require. For the avoidance of doubt in these Articles the expression "Share" shall include a fraction of a Share;

"**Shareholder**" or "**Member**" means the person who is duly registered in the Register as holder for the time being of any Share and includes persons who are jointly so registered;

"**Special Resolution**" means a resolution as described in Article 1(c)(i) of these Articles;

"**Subsidiary**" has the meaning ascribed to it by Section 15 of the Companies Ordinance;

"**Transfer Office**" means the place where the Principal Register is located for the time being; and

"**Treasury Shares**" means Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the Company and not cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In these Articles, unless there be something in the subject or context inconsistent herewith:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) words denoting the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) words importing any gender shall include every gender and
words importing persons shall include partnerships, firms, companies and corporations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) subject to the foregoing provisions of this Article, any words or expressions defined
in the Companies Act (except any statutory modification thereof not in force when these Articles become binding on the Company) shall
bear the same meaning in these Articles, save that "company" shall where the context permits include any company incorporated
in the Cayman Islands or elsewhere;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) references to any statute or statutory provision shall be construed as relating
to any statutory modification or re-enactment thereof for the time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) references to writing or similar expressions shall include printing, lithography, photography and other
modes of representing or reproducing words or figures in a legible and non-transitory form or, to the extent permitted by and in accordance
with the Companies Act and other applicable laws, rules and regulations, any visible substitute for writing (including an electronic communication),
or modes of representing or reproducing words in visible form, and including where the representation or reproduction takes the form of
an electronic display, provided that, where applicable, both the mode of service of the relevant document or notice and any Shareholder's
election comply with the Companies Act and all other applicable laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) references to a document being signed or executed include references to it being
signed or executed under hand or under seal or by electronic signature or by electronic communication or by any other method and references
to a notice or document include a notice or document recorded or stored in any digital, electronic, electrical, magnetic or other retrievable
form or medium and information in visible form whether having physical substance or not;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a reference to a meeting shall mean a meeting convened and held in any manner permitted
by these Articles and any Shareholder, proxy or Director virtually attending and participating at a meeting by means of electronic facilities
shall be deemed to be present and participating at that meeting for all purposes of the Companies Act and these Articles, and attend,
participate, attending, participating, attendance and participation shall be construed accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) references to a person's participation in the business of a general meeting
include, without limitation, and as relevant, the right (including, in the case of a corporation, through a duly authorised representative)
to speak or communicate, vote, be represented by a proxy and have access in hard copy or electronic form to all documents which are required
by the Companies Act or these Articles to be made available at the meeting, and participate and participating in the business of a general
meeting shall be construed accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) references to a poll include, without limitation, a poll conducted using electronic
facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) references to a vote, votes, voting or votes cast include, without limitation, a
vote, votes, voting or votes cast in each case using electronic facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) references to attendance, attend, attending and attended include, without limitation,
virtual attendance, attend virtually, attending virtually and virtually attended in each case using electronic facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) references to any person being present or being present in person include, without
limitation, such person being virtually present using electronic facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) references to any person doing anything personally or being present personally include,
without limitation, such person doing anything virtually using electronic facilities or being virtually present using electronic facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) references to any person voting in person include, without limitation, any person
voting using electronic facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) references to electronic facilities include, without limitation, website addresses, webinars, webcast,
video or any form of conference call system (telephone, video, web or otherwise);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) references to any notice in writing include, without limitation, notices given
by any electronic means or published on a website or websites; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) where a Shareholder is a corporation, any reference in these Articles to a Shareholder
shall include a duly authorised representative of such Shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to the preceding Articles, any words defined in the Companies Act shall, if not inconsistent with
the subject or context, bear the same meaning in these Articles. In addition, for the purposes of these Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at all times during the Relevant Period, a resolution shall be a Special Resolution when it has been passed
by a majority of not less than ¾ of the votes cast by such Shareholders as, being entitled so to do, vote in person or by proxy
or, in the cases of Shareholders which are corporations, by their respective duly authorised representatives at a general meeting of which
notice specifying the intention to propose the resolution as a special resolution has been duly given;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a resolution shall be an Ordinary Resolution when it has been passed by a simple
majority of such Shareholders as, being entitled so to do, vote in person or, where proxies are allowed, by proxy or, in the case of any
Shareholder being a corporation, by its duly authorised representative at a general meeting held in accordance with these Articles and
of which not less than 14 days' notice has been duly given; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a resolution in writing signed (in such manner as to indicate, expressly or impliedly,
unconditional approval) by or on behalf of all Shareholders for the time being entitled to receive notice of and to attend and vote at
general meetings of the Company shall, for the purpose of these Articles, be treated as an Ordinary Resolution duly passed at a general
meeting of the Company duly convened and held and, where relevant as a Special Resolution so passed. Any such resolution shall be deemed
to have been passed at a meeting held on the date on which it was signed by the last person to sign, and where the resolution states a
date as being the date of his signature thereof by any Shareholder the statement shall be prima facie evidence that it was signed by him
on that date. Such a resolution may consist of several documents in the like form, and signed by one or more relevant Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A Special Resolution shall be effective for any purpose for which an Ordinary Resolution
is expressed to be required under any provision of these Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Section 8 and Section 19 of the Electronic Transactions Act (as amended) of the Cayman Islands shall not
apply to these Articles to the extent such impose obligations or requirements in addition to those set out in these Articles.

2. To the extent that the same is permissible under Cayman Islands law and subject to Article 13, a Special
Resolution shall be required to alter the Memorandum of Association of the Company, to approve any amendment of the Articles or to change
the name of the Company.

**SHARES, WARRANTS AND MODIFICATION OF RIGHTS**

3. Subject to the Listing Rules and without prejudice to any special rights or restrictions for the time
being attaching to any Shares or any class of Shares including preference Shares, any Share may be issued upon such terms and conditions
and with such preferred, deferred or other qualified or special rights, or such restrictions, whether in regard to Dividend, voting, return
of capital or otherwise, as the Company may from time to time by Ordinary Resolution determine (or, in the absence of any such determination
or so far as the same may not make specific provision, as the Board may determine) and any Share may be issued on the terms that it is
liable to be redeemed upon the happening of a specified event or upon a given date and either at the option of the Company, or at the
option of the holder. No Shares shall be issued to bearer.

4. Subject to the Listing Rules, the Board may issue warrants to subscribe for any
class of Shares or other securities of the Company, which warrants may be issued on such terms as the Board may from time to time determine.
Where warrants are issued to bearer, no certificate thereof shall be issued to replace one that has been lost unless the Board is satisfied
beyond reasonable doubt that the original certificate thereof has been destroyed and the Company has received an indemnity in such form
as the Board shall think fit with regard to the issue of any such replacement certificate.

5. (a) If at any time the share capital of the Company is divided into different classes of Shares, all or
any of the special rights attached to any class (unless otherwise provided for by the terms of issue of the Shares of that class) may,
subject to the provisions of the Companies Act, be varied or abrogated either with the consent in writing of not less than three fourths
of the voting rights of the holders of that class or with the sanction of a Special Resolution passed at a separate general meeting of
the holders of the Shares of that class. To every such separate general meeting the provisions of these Articles relating to general meetings
shall mutatis mutandis apply, but so that the necessary quorum shall be not less than persons holding (or, in the case of a Shareholder
being a corporation, by its duly authorised representative) or representing by proxy holding one-third of the issued Shares of that class
and that any holder of Shares of the class present in person (or in the case of the Shareholder being a corporation, by its duly authorised
representative) or by proxy may demand a poll.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of this Article shall apply to the variation or abrogation of the
rights attached to the Shares of any class as if each group of Shares of the class differently treated formed a separate class the rights
whereof are to be varied or abrogated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The special rights conferred upon the holders of any Shares or class of Shares shall not, unless otherwise
expressly provided in the rights attaching to the terms of issue of such Shares be deemed to be altered by the creation or issue of further
Shares ranking pari passu therewith.

6. The authorised share capital of the Company on the date of the adoption of these Articles is **US$50,000** consisting of **500,000,000** shares
of **US$0.0001** each.

7. The Company in general meeting may from time to time, whether or not all the Shares
for the time being authorised shall have been issued and whether or not all the Shares for the time being issued shall have been fully
paid up, by Ordinary Resolution increase its share capital by the creation of new Shares, such new capital to be of such amount and to
be divided into Shares of such class or classes and of such amounts in Hong Kong dollars or such other currency as the Shareholders may
think fit and as the resolution may prescribe.

8. Any new Shares shall be issued upon such terms and conditions and with such rights,
privileges or restrictions attached thereto as the general meeting resolving upon the creation thereof shall direct, and if no direction
be given, subject to the provisions of the Companies Act and of these Articles, as the Board shall determine; and in particular such Shares
may be issued with a preferential or qualified right to participate in Dividends and in the distribution of assets of the Company and
with a special right or without any right of voting.

9. The Board may, before the issue of any new Shares, determine that the same, or any of them, shall be offered
in the first instance, and either at par or at a premium, to all the existing holders of any class of Shares in proportion as nearly as
may be to the number of Shares of such class held by them respectively, or make any other provisions as to the allotment and issue such
Shares, but in default of any such determination or so far as the same shall not extend, such Shares may be dealt with as if they formed
part of the capital of the Company existing prior to the issue of the same.

10. Except so far as otherwise provided by the conditions of issue or by these Articles,
any capital raised by the creation of new Shares shall be treated as if it formed part of the original capital of the Company and such
Shares shall be subject to the provisions contained in these Articles with reference to the payment of calls and instalments, transfer
and transmission, forfeiture, lien, cancellation, surrender, voting and otherwise.

11. (a) All unissued Shares and other securities of the Company shall be at the disposal of the Board and it may offer, allot (with or without
conferring a right of renunciation), grant options over or otherwise dispose of them to such persons, at such times, for such consideration
and generally on such terms (subject to Article 9) as it in its absolute discretion thinks fit, but so that no Shares shall be issued
at a discount. The Board shall, as regards any offer or allotment of Shares, comply with the provisions of the Companies Act, if and
so far as such provisions may be applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither the Company nor the Board shall be obliged, when
making or granting any allotment of, offer of, option over or disposal of Shares or other securities of the Company, to make, or make
available, and may resolve not to make, or make available, any such allotment, offer, option or Shares or other securities to Shareholders
or others with registered addresses in any jurisdiction outside of the Relevant Territory, or in any particular territory or territories
being a territory or territories where, in the absence of a registration statement or other special formalities, this would or might,
in the opinion of the Board, be unlawful or impracticable,
or the existence or extent of the requirement for such registration statement or special formalities might be expensive (whether in absolute
terms or in relation to the rights of the Shareholder(s) who may be affected) or time consuming to determine. The Board shall be entitled
to make such arrangements to deal with fractional entitlements arising on an offer of any unissued Shares or other securities as it thinks
fit, including the aggregation and the sale thereof for the benefit of the Company. Shareholders who may be affected as a result of any
of the matters referred to in this paragraph (b) shall not be, and shall be deemed not to be, a separate class of Shareholders for any
purposes whatsoever.

12. (a) The Company may at any time pay commission to any person for subscribing or agreeing to subscribe (whether absolutely or conditionally)
for any Shares or procuring or agreeing to procure subscriptions (whether absolute or conditional) for any Shares, but so that the conditions
and requirements of the Companies Act shall be observed and complied with, and in each case the commission shall not exceed 10% of the
price at which the Shares are issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Shares are issued for the purpose of raising money
to defray the expenses of the construction of any works or buildings or the provision of any plant which cannot be made profitable within
a period of one year, the Company may pay interest on so much of that share capital as is for the time being paid up for the period and,
subject to any conditions and restrictions mentioned in the Companies Act, may charge the sum so paid by way of interest to capital as
part of the cost of construction of the works or buildings, or the provisions of the plant.

13. The Company may from time to time by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase its share capital as provided by Article 7;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate or divide all or any of its share capital into Shares of larger or smaller amount than its
existing Shares; and on any consolidation of fully paid Shares into Shares of larger amount, the Board may settle any difficulty which
may arise as it thinks expedient and in particular (but without prejudice to the generality of the foregoing) may as between the holders
of Shares to be consolidated determine which particular Shares are to be consolidated into a consolidated Share, and if it shall happen
that any person shall become entitled to fractions of a consolidated Share or Shares, such fractions may be sold by some person appointed
by the Board for that purpose and the person so appointed may transfer the Shares so sold to the purchaser thereof and the validity of
such transfer shall not be questioned, and so that the net proceeds of such sale (after deduction of the expenses of such sale) may either
be distributed among the persons who would otherwise be entitled to a fraction or fractions of a consolidated Share or Shares rateably
in accordance with their rights and interest or may be paid to the Company for the Company's benefit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) divide its unissued Shares into several classes and attach thereto respectively
any preferential, deferred, qualified or special rights, privileges or conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) sub-divide its Shares or any of them into Shares of smaller amount than is
 fixed by the Memorandum of Association, subject nevertheless to the provisions of the Companies Act, and so that the resolution
 whereby any Share is sub-divided may determine that, as between the holders of the Shares resulting from such sub-division, one or
 more of the Shares may have any such preferred
or other special rights over, or may have such deferred rights or be subject to any such restrictions as compared with the others as the
Company has power to attach to unissued or new Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel any Shares which at the date of the passing of the resolution have not been taken or agreed to
be taken by any person, and diminish the amount of its share capital by the amount of the Shares so cancelled;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) make provision for the issue and allotment of Shares which do not carry any voting
rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) change the currency of denomination of its share capital; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) reduce its share premium account in any manner authorised, and subject to any conditions
prescribed by law.

14. The Company may by Special Resolution reduce its share capital or undistributable reserve in any manner
authorised, and subject to any conditions prescribed, by law.

15. (a) Subject to the Companies Act, or any other law or so far as not prohibited by any law and subject to any rights conferred on the holders
of any class of Shares, the Company shall have the power to purchase or otherwise acquire all or any of its own Shares (which expression
as used in this Article includes redeemable Shares) provided that the manner and terms of purchase have first been authorised by an Ordinary
Resolution of the Shareholders, and to purchase or otherwise acquire warrants and other securities for the subscription or purchase of
its own Shares, and shares and warrants and other securities for the subscription or purchase of any shares in any company which is its
Holding Company and may make payment therefor in any manner and terms authorised or not prohibited by law, including out of capital,
or to give, directly or indirectly, by means of a loan, a guarantee, an indemnity, the provision of security or otherwise howsoever,
financial assistance for the purpose of or in connection with a purchase or other acquisition made or to be made by any person of any
Shares or warrants or other securities in the Company or any company which is a Holding Company of the Company and should the Company
purchase or otherwise acquire its own Shares or warrants or other securities neither the Company nor the Board shall be required to select
the Shares or warrants or other securities to be purchased or otherwise acquired rateably or in any other manner and terms as between
the holders of Shares or warrants or other securities of the same class or as between them and the holders of Shares or warrants or other
securities of any other class or in accordance with the rights as to Dividends or capital conferred by any class of Shares provided always
that any such purchase or other acquisition or financial assistance shall only be made in accordance with the relevant code, rules or
regulations issued from time to time by the HK Stock Exchange and/or the Securities and Futures Commission of Hong Kong from time to
time in force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the provisions of the Companies Act and the Memorandum of Association of the Company, and to
any special rights conferred on the holders of any Shares or attaching to any class of Shares, Shares may be issued on the terms that
they may, at the option of the Company or the holders thereof, be liable to be redeemed on such terms and in such manner, including out
of capital, as the Board may deem fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Where the Company purchases for redemption a redeemable Share, purchases not made
through the market or by tender shall be limited to a maximum price, and if purchases are by tender, tenders shall be available to all
Shareholders alike.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The purchase or redemption of any Share shall not be deemed to give rise to the
purchase or redemption of any other Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The holder of the Shares being purchased or redeemed shall be bound to deliver up
to the Company at the Head Office or such other place as the Board shall specify the certificate(s) thereof for cancellation and thereupon
the Company shall pay to him the purchase or redemption monies in respect thereof.

**REGISTER OF SHAREHOLDERS AND SHARE CERTIFICATES**

16. Except as otherwise expressly provided by these Articles or as required by law or as ordered by a court
of competent jurisdiction, no person shall be recognised by the Company as holding any Share upon any trust and, except as aforesaid,
the Company shall not be bound by or be compelled in any way to recognise (even when having notice thereof) any equitable, contingent,
future or partial interest in any Share or any interest in any fractional part of a Share or any other right or claim to or in respect
of any Shares except an absolute right to the entirety thereof of the registered holder.

17. (a) The Board shall cause to be kept the Register and there shall be entered therein the particulars required under the Companies Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the provisions of the Companies Act, if the Board considers it necessary or appropriate, the
Company may establish and maintain a Principal Register or Branch Register at such location as the Board thinks fit and, during the Relevant
Period, the Company shall keep its Principal Register or Branch Register in Hong Kong.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) During the Relevant Period (except when the Register is closed on terms equivalent
to section 632 of the Companies Ordinance) as at the date of the adoption of these Articles (or its equivalent provisions from time to
time), any Shareholder may inspect during business hours any Register maintained in Hong Kong without charge and require the provision
to him of copies or extracts thereof in all respects as if the Company were incorporated under and were subject to the Companies Ordinance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Register may be closed at such time or for such period not exceeding in the
whole 30 days in each year as the Board may determine.

18. (a) Every person whose name is entered as a Shareholder in the Register shall be entitled to receive within the relevant time limit as prescribed
in the Companies Act or as the HK Stock Exchange may from time to time determine, whichever is shorter, after allotment or lodgement
of a transfer (or within such other period as the conditions of issue shall provide or is required by the applicable rules of the stock
exchange of the Relevant Territory) one certificate for all his Shares, or, if he shall so request, in a case where the allotment or
transfer is of a number of Shares in excess of the number for the time being forming a stock exchange board lot for the purposes of the
stock exchange of the Relevant Territory on which the Shares are listed upon payment of such sum (in the case of a transfer, not exceeding
in the case of any share capital listed on a stock exchange in Hong Kong, HK$2.50 or such other sum as may from time to time be allowed
or not prohibited under the Listing Rules, and in the case of any other Shares, such sum in such currency as the Board may from time
to time determine to be reasonable in the territory in which the relevant Register is situated, or otherwise such other sum as the Company
may by Ordinary Resolution determine) for every certificate after the first as the Board may from time to time determine, such number
of certificates for Shares in stock exchange board lots or whole multiples thereof as he shall request and one for the balance (if any)
of the Shares in question, provided that in respect of a Share or Shares held jointly by several persons the Company shall not be bound
to issue a certificate or certificates to each such person, and the issue and delivery of a certificate or certificates to one of the
joint holders shall be sufficient delivery to all such holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company may, in the event of a change in the form of
definitive Share certificate adopted by the Board, issue new definitive certificates to all holders of Shares appearing on the Register
in replacement of old definitive certificates issued to such holders. The Board may resolve whether or not to require the return of the
old certificates as a condition precedent to the issue of replacement certificates and, as regards any old certificates which have been
lost or defaced, to impose such conditions (including as to indemnity) as the Board shall see fit. If the Board elects not to require
the return of the old certificates, the same shall be deemed to have been cancelled and of no further effect for all purposes.

19. Every certificate for Shares, warrants or debentures or representing any other form
of securities of the Company shall be issued under the Seal of the Company, which for this purpose may be a duplicate Seal.

20. Every share certificate hereafter issued shall specify the number and class of Shares in respect of which
it is issued and the amount paid thereon and may otherwise be in such form as the Board may from time to time prescribe. A share certificate
shall relate to only one class of Shares, and where the capital of the Company includes Shares with different voting rights, the designation
of each class of Shares, other than those which carry the general right to vote at general meetings, must include the words "restricted
voting" or "limited voting" or "non-voting" or some other appropriate designation which is commensurate
with the rights attaching to the relevant class of Shares.

21. (a) The Company shall not be bound to register more than four persons as joint holders of any Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Shares shall stand in the names of two or more persons,
the person first named in the Register shall be deemed to be sole holder thereof as regards service of notice and, subject to the provisions
of these Articles, all or any other matter connected with the Company, except the transfer of the Share.

22. If a share certificate is defaced, lost or destroyed, it may be replaced on payment
of such fee, if any, (not exceeding, in the case of any share capital listed on a stock exchange in Hong Kong, HK$2.50 or such other sum
as may from time to time be allowed or not prohibited under the Listing Rules, and, in the case of any other capital, such sum in such
currency as the Board may from time to time determine to be reasonable in the territory in which the relevant Register is situated, or
such other sum as the Company may by Ordinary Resolution determine) as the Board shall from time to time determine and on such terms and
conditions, if any, as to publication of notices, evidence and indemnity as the Board thinks fit and in the case of wearing out or defacement,
after delivery up of the old certificate. In the case of destruction or loss, the person to whom such replacement certificate is given
shall also bear and pay to the Company all costs and out-of-pocket expenses incidental to the investigation by the Company of the evidence
of such destruction or loss and of such indemnity.

**LIEN**

23. The Company shall have a first and paramount lien on every Share (not being a fully
paid Share) for all moneys, whether presently payable or not, called or payable at a fixed time in respect of that Share; and the Company
shall also have a first and paramount lien and charge on all Shares (other than fully paid-up Shares) standing registered in the name
of a Shareholder, whether singly or jointly with any other person or persons, for all the debts and liabilities of such Shareholder or
his estate to the Company and whether the same shall have been incurred before or after notice to the Company of any equitable or other
interest of any person other than such Shareholder, and whether the period for the payment or discharge of the same shall have actually
arrived or not, and notwithstanding that the same are joint debts or liabilities of such Shareholder or his estate and any other person,
whether a Shareholder of the Company or not. The Company's lien (if any) on a Share shall extend to all Dividends and bonuses declared
in respect thereof. The Board may at any time either generally or in any particular case waive any lien that has arisen, or declare any
Share to be exempt wholly or partially from the provisions of this Article.

24. The Company may sell, in such manner as the Board thinks fit, any Shares on which the Company has a lien,
but no sale shall be made unless some sum in respect of which the lien exists is presently payable or the liability or engagement in respect
of which such lien exists is liable to be presently fulfilled or discharged, nor until the expiration of 14 days after a notice in writing,
stating and demanding payment of the sum presently payable or specifying the liability or engagement and demanding fulfilment or discharge
thereof and giving notice of intention to sell in default, shall have been given, in the manner in which notices may be sent to Shareholders
of the Company as provided in these Articles, to the registered holder for the time being of the Shares, or the person entitled by reason
of such holder's death, bankruptcy or winding-up to the Shares.

25. The net proceeds of such sale after the payment of the costs of such sale shall be applied in or towards
payment or satisfaction of the debt or liability or engagement in respect whereof the lien exists, so far as the same is presently payable,
and any residue shall (subject to a like lien for debts or liabilities not presently payable as existed upon the Shares prior to the sale)
be paid to the person entitled to the Shares at the time of the sale. For the purpose of giving effect to any such sale, the Board may
authorise some person to transfer the Shares sold to the purchaser thereof and may enter the purchaser's name in the Register as
holder of the Shares, and the purchaser shall not be bound to see the application of the purchase money, nor shall his title to the Shares
be affected by any irregularity or invalidity in the proceedings relating to the sale.

**CALLS ON SHARES**

26. The Board may from time to time make such calls as it thinks fit upon the Shareholders
in respect of any moneys unpaid on the Shares held by them respectively (whether on account of the nominal value of the Shares or by way
of premiums) and not by the conditions of allotment thereof made payable at a fixed time. A call may be made payable either in one sum
or by instalments.

27. At least 14 days' notice of any call shall be given to the relevant Shareholders
specifying the time and place of payment and to whom such call shall be paid.

28. A copy of the notice referred to in Article 27 shall be sent to relevant Shareholders
in the manner in which notices may be sent to Shareholders by the Company as herein provided.

29. In addition to the giving of notice in accordance with Article 28, notice of the
person appointed to receive payment of every call and of the times and places appointed for payment may be given to the relevant Shareholders
by notice to be inserted at least once in the Newspapers.

30. Every Shareholder upon whom a call is made shall pay the amount of every call so
made on him to the person and at the time or times and place or places as the Board shall appoint.

31. A call shall be deemed to have been made at the time when the resolution of the
Board authorising such call was passed.

32. The joint holders of a Share shall be severally as well as jointly liable for the
payment of all calls and instalments due in respect of such Share or other moneys due in respect thereof.

33. The Board from time to time at its discretion may extend the time fixed for any
call, and may extend such time as regards all or any of the Shareholders, whom due to residence outside the Relevant Territory or other
cause the Board may deem entitled to any such extension but no Shareholder shall be entitled to any such extension except as a matter
of grace and favour.

34. If the sum payable in respect of any call or instalment is not paid before or on
the day appointed for payment thereof, the person or persons from whom the sum is due shall pay interest on the same at such rate not
exceeding 20% per annum as the Board shall fix from the day appointed for the payment thereof to the time of the actual payment, but the
Board may waive payment of such interest wholly or in part.

35. No Shareholder shall be entitled to receive any Dividend or bonus or to be present
or vote (save as proxy or authorised representative for another Shareholder) at any general meeting, either personally, or (save as proxy
or authorised representative for another Shareholder) by proxy, or be reckoned in a quorum, or to exercise any other privilege as a Shareholder
until all calls or instalments due from him to the Company, whether alone or jointly or jointly and severally with any other person, together
with interest and expenses (if any) shall have been paid.

36. On the trial or hearing of any action or other proceedings for the recovery of any money due for any call,
it shall be sufficient to prove that the name of the Shareholder sued is entered in the Register as the holder, or one of the holders,
of the Shares in respect of which such debt accrues; that the resolution of the Board making the call has been duly recorded in the minute
book of the Board; and that notice of such call was given to the Shareholder sued, in pursuance of these Articles, and it shall not be
necessary to prove the appointment of the Directors who made such call, nor any other matters whatsoever, but the proof of the matters
aforesaid shall be conclusive evidence of the debt.

37. (a) Any sum which by the terms of allotment of a Share is made payable upon allotment or at any fixed date, whether on account of the nominal
value of the Share and/or by way of premium, shall for all purposes of these Articles be deemed to be a call duly made and notified and
payable on the date fixed for payment, and in case of non-payment all the relevant provisions of these Articles as to payment of interest
and expenses, forfeiture and the like, shall apply as if such sums had become payable by virtue of a call duly made and notified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Board may on the issue of Shares differentiate between
the allottees or holders as to the amount of calls to be paid and the time of payment.

38. The Board may, if it thinks fit, receive from any Shareholder willing to advance the same, and either
in money or money's worth, all or any part of the money uncalled and unpaid or instalments payable upon any Shares held by him,
and in respect of all or any of the moneys so advanced may pay interest at such rate (if any) not exceeding 20% per annum, as the Board
may decide but a payment in advance of a call shall not entitle the Shareholder to receive any Dividend subsequently declared or to exercise
any other rights or privileges as a Shareholder in respect of the Share or the due portion of the Shares upon which payment has been advanced
by such Shareholder before it is called up. The Board may at any time repay the amount so advanced upon giving to such Shareholder not
less than one Month's notice in writing of its intention on that behalf, unless before the expiration of such notice the amount
so advanced shall have been called up on the Shares in respect of which it was advanced.

**TRANSFER OF SHARES**

39. Subject to the Companies Act, all transfers of Shares shall be effected by transfer
in writing in the usual or common form or in such other form as the Board may accept provided always that it shall be in such a form prescribed
by the HK Stock Exchange and may be under hand only or, if the transferor or transferee is a Clearing House (or its nominee(s)), under
hand or by machine imprinted signature or by such other means of execution as the Board may approve from time to time.

40. The instrument of transfer of any Share shall be executed by or on behalf of the transferor and by or
on behalf of the transferee provided that the Board may dispense with the execution of the instrument of transfer by the transferor or
the transferee or accept mechanically executed transfers in any case in which it in its absolute discretion thinks fit to do so. The transferor
shall be deemed to remain the holder of the Share until the name of the transferee is entered in the Register in respect thereof. Nothing
in these Articles shall preclude the Board from recognising a renunciation of the allotment or provisional allotment of any Share by the
allottee in favour of some other person.

41. (a) The Board may, in its absolute discretion at any time and from time to time, remove any Share on the Principal Register to any Branch
Register or any Share on any branch Register to the Principal Register or any other Branch Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless the Board otherwise agrees (which agreement may be on such terms and subject
to such conditions as the Board in its absolute discretion may from time to time stipulate, and which agreement it shall, without giving
any reason therefore, be entitled in its absolute discretion to give or withhold) no Shares on the Principal Register shall be removed
to any Branch Register nor shall Shares on any Branch Register be removed to the Principal Register or any other Branch Register and all
removals and other documents of title relating to
or affecting the title to any share or other securities of the Company shall be lodged for registration, and be registered, in the case
of any Shares on a Branch Register, at the relevant Registration Office, and, in the case of any Shares on the Principal Register, at
the Transfer Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything contained in these Articles, the Company shall as soon as practicable and on
a regular basis record in the Principal Register all removals of Shares effected on any Branch Register and shall at all times maintain
the Principal Register and all Branch Registers in all respects in accordance with the Companies Act.

42. Fully paid Shares shall be free from any restriction with respect to the right of the holder thereof to
transfer such Shares (except when permitted by the HK Stock Exchange) and shall also be free from all liens. The Board however, may, in
its absolute discretion, refuse to register a transfer of any Share which is not fully paid to a person of whom it does not approve or
any Share issued under any share option scheme upon which a restriction on transfer imposed thereby still subsists, and it may also refuse
to register a transfer of any Share (whether fully paid up or not) to more than four joint holders or a transfer of any Shares (not being
a fully paid up Share) on which the Company has a lien.

43. The Board may also decline to recognise any instrument of transfer unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a fee of such maximum as the HK Stock Exchange may from time to time determine to
be payable (or such lesser sum as the Board may from time to time require) has been paid to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the instrument of transfer is lodged at the relevant Registration Office or, as the case may be, the Transfer
Office accompanied by the certificate of the Shares to which it relates, and such other evidence as the Board may reasonably require to
show the right of the transferor to make the transfer (and, if the instrument of transfer is executed by some other person on his behalf,
the authority of that person so to do);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the instrument of transfer is in respect of only one class of Share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Shares concerned are free of any lien in favour of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if applicable, the instrument of transfer is properly stamped.

44. The Board may refuse to register a transfer of any Share to an infant or to a person
of unsound mind or under other legal disability.

45. If the Board shall refuse to register a transfer of any Share, it shall, within
two months after the date on which the transfer was lodged with the Company, send to each of the transferor and the transferee notice
of such refusal and, except where the subject Share is not a fully paid Share, the reason(s) for such refusal.

46. Upon every transfer of Shares, the certificate in respect thereof held by the
 transferor shall be given up to be cancelled, and shall forthwith be cancelled accordingly, and a new certificate shall be issued to
 the transferee in respect of the Shares transferred to him as provided in Article 18, and if any of the Shares included in the
 certificate so given up shall be retained by the transferor a new certificate in respect thereof shall be issued to him as provided
 in Article 18. The Company shall retain the instrument
of transfer.

47. The registration of transfers may be suspended when the Register is closed in accordance with Article
17(d).

**TRANSMISSION OF SHARES**

48. In the case of the death of a Shareholder, the survivor or survivors where the deceased was a joint holder,
and the legal personal representatives of the deceased where he was a sole or only surviving holder, shall be the only persons recognised
by the Company as having any title to his interest in the Shares; but nothing herein contained shall release the estate of a deceased
holder (whether sole or joint) from any liability in respect of any Share solely or jointly held by him.

49. Any person becoming entitled to a Share in consequence of the death or bankruptcy or winding-up of a Shareholder
may, upon such evidence as to his title being produced as may from time to time be required by the Board, and subject as hereinafter provided,
elect either to be registered himself as holder of the Share or to have some person nominated by him registered as the transferee thereof.

50. If the person becoming entitled to a Share pursuant to Article 49 shall elect to be registered himself
as the holder of such Share, he shall deliver or send to the Company a notice in writing signed by him, at (unless the Board otherwise
agrees) the Registration Office, stating that he so elects. If he shall elect to have his nominee registered, he shall testify his election
by executing a transfer of such Share to his nominee. All the limitations, restrictions and provisions of these Articles relating to the
right to transfer and the registration of transfers of Shares shall be applicable to any such notice or transfer as aforesaid as if the
death, bankruptcy or winding-up of the Shareholder had not occurred and the notice or transfer were a transfer executed by such Shareholder.

51. A person becoming entitled to a Share by reason of the death, bankruptcy or winding-up
of the holder shall be entitled to the same Dividends and other advantages to which he would be entitled if he were the registered holder
of the Share. However, the Board may, if it thinks fit, withhold the payment of any Dividend payable or other advantages in respect of
such Share until such person shall become the registered holder of the Share or shall have effectually transferred such Share, but, subject
to the requirements of Article 92 being met, such a person may vote at general meetings of the Company.

**FORFEITURE OF SHARES**

52. If a Shareholder fails to pay any call or instalment of a call on the day appointed for payment thereof,
the Board may, at any time thereafter during such time as any part of the call or instalment remains unpaid, without prejudice to the
provisions of Article 34, serve notice on him requiring payment of so much of the call or instalment as is unpaid, together with any interest
which may have accrued and which may still accrue up to the date of actual payment.

53. The notice shall name a further day (not earlier than the expiration of 14 days
from the date of the notice) on or before which the payment required by the notice is to be made, and it shall also name the place where
payment is to be made such place being the Registered Office or a Registration Office or another place within the Relevant Territory.
The notice shall also state that, in the event of non-payment at or before the time appointed, the Shares in respect of which the call
was made will be liable to be forfeited.

54. If the requirements of any such notice as aforesaid are not complied with, any Share in respect of which
the notice has been given may at any time thereafter, before the payment required by the notice has been made, be forfeited by a resolution
of the Board to that effect. Such forfeiture shall include all Dividends and bonuses declared in respect of the forfeited Share and not
actually paid before the forfeiture. The Board may accept the surrender of any Share liable to be forfeited hereunder and in such cases
references in these Articles to forfeiture shall include surrender.

55. Any Share so forfeited shall be deemed to be the property of the Company, and may be re-allotted, sold
or otherwise disposed of on such terms and in such manner as the Board thinks fit and at any time before a sale or disposition, the forfeiture
may be cancelled on such terms as the Board thinks fit.

56. A person whose Shares have been forfeited shall cease to be a Shareholder in respect
of the forfeited Shares, but shall, nevertheless, remain liable to pay to the Company all moneys which, at the date of forfeiture, were
payable by him to the Company in respect of the forfeited Shares, together with (if the Board shall in its discretion so require) interest
thereon from the date of forfeiture until the date of actual payment (including the payment of such interest) at such rate not exceeding
20% per annum as the Board may prescribe, and the Board may enforce the payment thereof if it thinks fit, and without any deduction or
allowance for the value of the Shares at the date of forfeiture, but his liability shall cease if and when the Company shall have received
payment in full of all such moneys in respect of the Shares. For the purposes of this Article any sum which by the terms of issue of a
Share, is payable thereon at a fixed time which is subsequent to the date of forfeiture, whether on account of the nominal value of the
Share or by way of premium, shall notwithstanding that such time has not yet arrived be deemed to be payable on the date of forfeiture,
and the same shall become due and payable immediately upon the forfeiture, but interest thereon shall only be payable in respect of any
period between the said fixed time and the date of actual payment.

57. A certificate in writing that the declarant is a Director or the Secretary, and that a Share has been
duly forfeited or surrendered on a date stated in the certificate, shall be conclusive evidence of the facts therein stated as against
all persons claiming to be entitled to the Share. The Company may receive the consideration, if any, given for the Share on any re-allotment,
sale or disposition thereof and may execute a transfer of the Share in favour of the person to whom the Share is re-allotted, sold or
disposed of and such person shall thereupon be registered as the holder of the Share, and shall not be bound to see to the application
of the subscription or purchase money, (if any), nor shall his title to the Share be affected by any irregularity or invalidity in the
proceedings in reference to the forfeiture, re-allotment, sale or disposal of such Share.

58. When any Share shall have been forfeited, notice of the forfeiture shall be given
to the Shareholder in whose name it stood immediately prior to the forfeiture, and an entry of the forfeiture, with the date thereof,
shall forthwith be made in the Register, but no forfeiture shall be in any manner invalidated by any omission or neglect to give such
notice or make any such entry.

59. Notwithstanding any such forfeiture as aforesaid the Board may at any time, before
any Shares so forfeited shall have been re-allotted, sold or otherwise disposed of, cancel the forfeiture on such terms as it thinks fit
or permit the Shares so forfeited to be bought back or redeemed upon the terms of payment of all calls and interest due upon and expenses
incurred in respect of the Shares, and upon such further terms (if any) as it thinks fit.

60. The forfeiture of a Share shall not prejudice the right of the Company to any call
already made or any instalment payment thereon.

61. (a) The provisions of these Articles as to forfeiture shall apply in the case of non-payment of any sum which, by terms of issue of a Share,
becomes payable at a fixed time, whether on account of the nominal value of the Share or by way of premium, as if the same had been payable
by virtue of a call duly made and notified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event of a forfeiture of Shares the Shareholder shall
be bound to deliver and shall forthwith deliver to the Company the certificate or certificates held by him for the Shares so forfeited
and in any event the certificates representing Shares so forfeited shall be void and of no further effect.

**TREASURY SHARES**

62. Shares that the Company purchases, redeems or acquires (by way of surrender or otherwise) may, at the
option of the Company, be cancelled immediately or held as Treasury Shares in accordance with the Companies Act. In the event that the
Directors do not specify that the relevant Shares are to be held as Treasury Shares, such Shares shall be cancelled.

63. No dividend may be declared or paid, and no other distribution (whether in cash
or otherwise) of the Company's assets (including any distribution of assets to members on a winding up) may be declared or paid
in respect of a Treasury Share.

64. The Company shall be entered in the Register as the holder of the Treasury Shares
provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall not be treated as a member for any purpose and shall not exercise any right in respect
of the Treasury Shares, and any purported exercise of such a right shall be void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a Treasury Share shall not be voted, directly or indirectly, at any meeting of the
Company and shall not be counted in determining the total number of issued shares at any given time, whether for the purposes of these
Articles or the Companies Act, save that an allotment of Shares as fully paid bonus shares in respect of a Treasury Share is permitted
and Shares allotted as fully paid bonus shares in respect of a Treasury Share shall be treated as Treasury Shares.

65. Treasury Shares may be disposed of by the Company on such terms and conditions
as determined by the Directors.

**GENERAL MEETINGS**

66. Other than the year of the Company's adoption of these Articles, in each financial year during the
Relevant Period, the Company shall hold a general meeting as its annual general meeting in addition to any other meeting in that year
and shall specify the meeting as such in the notice calling it. The Company shall hold the annual general meeting within six months after
the end of its financial year. The annual general meeting shall be held at such time and place as the Board may determine.

67. The Board may, at its absolute discretion, arrange for persons entitled to attend a general meeting to
do so by either one or both of the following: (i) physical attendance at a location (the "**Meeting Location**") or locations
(the "**Meeting Locations**") as determined by the Board in its absolute discretion and (ii) virtual attendance by means
of electronic facilities as determined by the Board in its absolute discretion. Without prejudice to any other provision of these Articles,
any Shareholder or any proxy physically attending in any such way and any Shareholder or any proxy virtually attending in any electronic
meeting or any hybrid meeting in any such way is deemed to be present at and shall be counted in the quorum of the meeting.

68. All general meetings are subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where all the Shareholders or their proxies physically attend at more than one Meeting
Location, the meeting shall be treated as having commenced if it has commenced at the Principal Meeting Place;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of a hybrid meeting, the meeting shall be treated as having commenced
if it has commenced at the Meeting Location or, if there is more than one Meeting Location, the Principal Meeting Place;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of an electronic meeting, the meeting shall be treated as having commenced
if it has commenced at the place where the chair of such meeting is physically present;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Shareholders present in person or by proxy at a Meeting Location and/or Shareholders or their proxies
virtually attending any electronic meeting or hybrid meeting by means of electronic facilities shall be counted in the quorum for and
entitled to vote at the meeting in question, and that meeting shall be duly constituted and its proceedings valid provided that, where
applicable, the chair of the meeting is satisfied that adequate electronic facilities are available throughout the meeting to ensure that
Shareholders attending and participating at a meeting by means of electronic facilities are able to participate in the business for which
the meeting has been convened;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) subject to Article 70, where Shareholders (and any of their proxies) attend a meeting
by being present at one of the Meeting Locations and/or where Shareholders (and any of their proxies) virtually attend any electronic
meeting or hybrid meeting by means of electronic facilities, a failure (for any reason) of the electronic facilities or communication
equipment, or any other failure in the arrangements for enabling those in a Meeting Location other than the Principal Meeting Place to
participate in the business for which the meeting has been convened or in the case of an electronic meeting or a hybrid meeting, the inability
of one or more Shareholders or proxies to access, or continue to access, the electronic facilities despite adequate electronic facilities
having been made available by the Company, shall not affect the validity of the meeting or the resolutions passed, or any business conducted
there or any action taken pursuant to such business provided that there is a quorum present throughout the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if there is more than one Meeting Location, the provisions of these Articles concerning
the service and giving of notice for the meeting, and the time for lodging proxies, shall apply by reference to the Principal Meeting
Place; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) in the case of an electronic meeting or (unless Article 68(f) applies) a hybrid
meeting, the time for lodging proxies shall be as stated in the notice for the meeting.

69. The Board and, at any general meeting, the chair of the meeting may from time to time make arrangements
for managing attendance and/or participation and/or voting at the Principal Meeting Place, any other Meeting Location and/or any electronic
meeting or a hybrid meeting (whether involving the issue of tickets or some other means of identification, passcode, seat reservation,
electronic voting or otherwise) as it shall in its absolute discretion consider appropriate, and may from time to time change any such
arrangements.

70. If it appears to the chair of the general meeting that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the electronic facilities at the Principal Meeting Place or at any other Meeting
Location at which the meeting may be attended have become inadequate for the purposes of conducting the meeting or are otherwise not sufficient
to allow the meeting to be conducted substantially in accordance with the provisions set out in the notice of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of an electronic meeting or a hybrid meeting, electronic facilities
being made available by the Company have become inadequate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it is not possible to ascertain the view of those present or to give all persons entitled to do so a reasonable
opportunity to communicate and/or vote at the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) there is violence or the threat of violence, unruly behaviour or other disruption
occurring at the meeting or it is not possible to secure the proper and orderly conduct of the meeting,

then without prejudice to any other power which the chair of the meeting may have under these Articles or at common law, the chair may, at their absolute discretion, without the consent of the meeting, and before or after the meeting has started and irrespective of whether a quorum is present, interrupt or adjourn the meeting (including adjournment for an indefinite period). All business conducted at the meeting up to the time of such adjournment shall be valid.

71. The Board and, at any general meeting, the chair of the meeting may make any arrangement, determine and/or
implement any requirements, procedures or measures which the Board or the chair of the meeting, as the case may be, considers appropriate
to ensure the security and facilitate the orderly and effective conduct of a meeting (including, without limitation, requirements for
evidence of identity to be produced by those attending the meeting, and determining the number and frequency of and the time allowed for
questions that may be raised at a meeting). Shareholders shall also comply with all requirements imposed by the owner of the premises
at which the meeting is held. Any decision made under this Article shall be final and conclusive and a person who refuses to comply with
any such arrangements or requirements may be refused entry to the meeting or ejected (physically or electronically) from the meeting.

72. All persons seeking to attend and participate in an electronic meeting or a hybrid
meeting shall be responsible for maintaining adequate facilities to enable them to do so. Subject to Article 70, any inability of a person
or persons to attend or participate in a general meeting by way of electronic facilities shall not invalidate the proceedings of and/or
resolutions passed at that meeting.

73. Without prejudice to Articles 67 to 72, a meeting may also be held by means of such
telephone, electronic or other communication facilities as permit all persons participating in the meeting to communicate with each other
simultaneously and instantaneously, and participation in such meeting shall be deemed to constitute presence at such meeting

74. All general meetings other than annual general meetings shall be called extraordinary
general meetings. All general meetings (including an annual general meeting or any adjourned meeting) may be held as a physical meeting
in any part of the world and at one or more locations as provided in Article 67, as a hybrid meeting or as an electronic meeting, as may
be determined by the Board.

75. The Board may, whenever it thinks fit, convene an extraordinary general meeting.
Extraordinary general meetings shall also be convened on the requisition of one or more Shareholders holding, at the date of deposit of
the requisition, not less than one tenth of the voting rights, on a one vote per Share basis, in the share capital of the Company. Such
requisition shall be made in writing to the Board or the Secretary for the purpose of requiring an extraordinary general meeting to be
called by the Board for the transaction of any business specified in such requisition. Such meeting shall be held within two Months after
the deposit of such requisition. If within 21 days of such deposit, the Board fails to proceed to convene such meeting, the requisitionist(s)
himself (themselves) may do so in the same manner, and all reasonable expenses incurred by the requisitionist(s) as a result of the failure
of the Board shall be reimbursed to the requisitionist(s) by the Company. The requisitionist(s) may add resolutions to the agenda of a
general meeting requisitioned under this Article.

76. An annual general meeting of the Company shall be called by at least 21 days'
notice in writing, and a general meeting of the Company, other than an annual general meeting, shall be called by at least 14 days'
notice in writing. The notice shall be exclusive of the day on which it is served or deemed to be served and of the day for which it is
given, and shall specify (i) the time, date and agenda of the meeting (ii) save for an electronic meeting, the place of the meeting and
if there is more than one Meeting Location as determined by the Board pursuant to Article 67, the principal place of the meeting (such
principal place of the meeting being the "**Principal Meeting Place** "), (iii) if the general meeting is to be a hybrid
meeting or an electronic meeting, the notice shall include a statement to that effect and with details of the electronic facilities for
attendance and participation by electronic means at the meeting or where such details will be made available by the Company prior to the
meeting, and (iv) particulars of the resolutions to be considered at that meeting and in the case of special business (as defined in Article
78), the general nature of that business, and shall be given, in manner hereinafter mentioned or in such other manner, if any, as may
be prescribed by the Company in general meeting, to such persons as are, under these Articles, entitled to receive such notices from the
Company, provided that a meeting of the Company shall notwithstanding that it is called by shorter notice than that specified in this
Article be deemed to have been duly called if it can be demonstrated to the HK Stock Exchange that reasonable written notice can be given
in less time, and it is so agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a meeting called as the annual general meeting, by all the Shareholders
entitled to attend and vote thereat; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any other meeting, by a majority in number of the Shareholders having
a right to attend and vote at the meeting, being a majority together holding not less than 95% of the total voting rights at the meeting
of all members of the Company.

77. (a) The accidental omission to give any notice to, or the non-receipt of any notice
by, any person entitled to receive notice shall not invalidate any resolution passed or any proceedings at any such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case where forms of proxy or notice of appointment
of corporate representative are to be sent out with any notice, the accidental omission to send such forms of proxy or notice of appointment
of corporate representative to, or the non-receipt of such forms by, any person entitled to receive notice of the relevant meeting shall
not invalidate any resolution passed or any proceeding at any such meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

78. All business shall be deemed special that is transacted at an extraordinary general meeting and also all
business shall be deemed special that is transacted at an annual general meeting with the exception of the following, which shall be deemed
ordinary business:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the declaration and sanctioning of Dividends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the consideration and adoption of the accounts and balance sheets and the reports
of the Directors and Auditors and other documents required to be annexed to the balance sheets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the election of Directors in place of those retiring;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the appointment of Auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the fixing of, or the determining of the method of fixing of the remuneration of
the Directors and of the Auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the granting of any mandate or authority to the Board to offer, allot, grant options over, or otherwise
dispose of the unissued Shares representing not more than 20% (or such other percentage as may from time to time be specified in the Listing
Rules) in nominal value of its then existing issued share capital and the number of any securities repurchased pursuant to paragraph (g)
of this Article; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the granting of any mandate or authority to the Board to repurchase securities
of the Company.

79. For all purposes the quorum for a general meeting shall be two Shareholders present
in person (or, in the case of a Shareholder being a corporation, by its duly authorised representative) or by proxy and entitled to vote.
No business shall be transacted at any general meeting unless the requisite quorum shall be present at the time when the meeting proceeds
to business and continues to be present until the conclusion of the meeting.

80. If within 15 minutes from the time appointed for the meeting a quorum is not present,
the meeting, if convened upon the requisition of Shareholders, shall be dissolved, but in any other case it shall stand adjourned to the
same day in the next week and at such time and place (where applicable) as shall be decided by the Board, and if at such adjourned meeting
a quorum is not present within 15 minutes from the time appointed for holding the meeting, the Shareholder or the Shareholders present
in person (or, in the case of a Shareholder being a corporation by its duly authorised representative) or by proxy and entitled to vote
shall be a quorum and may transact the business for which the meeting was called.

81. The chairman (if any) of the Company or if he is absent or declines to take the
chair at such meeting, the vice chairman (if any) of the Company shall take the chair at every general meeting, or, if there be no such
chairman or vice chairman, or, if at any general meeting neither of such chairman or vice chairman is present within 15 minutes after
the time appointed for holding such meeting, or both such persons decline to take the chair at such meeting, the Directors present shall
choose one of their number as chairman of the meeting, and if no Director be present or if all the Directors present decline to take the
chair or if the chairman chosen shall retire from the chair, then the Shareholders present shall choose one of their number to be chairman
of the meeting.

82. The chairman of a general meeting (be it a physical meeting, a hybrid meeting or
an electronic meeting) may attend, preside as chair at, and conduct proceedings of, such meeting by means of electronic facilities.

83. Subject to Article 70, the chairman of the meeting may, with the consent of any
general meeting at which a quorum is present, and shall, if so directed by the meeting, adjourn any meeting from time to time (or indefinitely)
and from place to place and from one form to another (such as a physical meeting, a hybrid meeting or an electronic meeting) as the meeting
shall determine. Whenever a meeting is adjourned for 14 days or more, at least seven clear days' notice, specifying the details
set out in Article 76 shall be given in the same manner as in the case of an original meeting but it shall not be necessary to specify
in such notice the nature of the business to be transacted at the adjourned meeting. Save as aforesaid, no notice of an adjournment or
of the business to be transacted at any adjourned meeting needs to be given nor shall any Shareholder be entitled to any such notice.
No business shall be transacted at an adjourned meeting other than the business which might have been transacted at the meeting from which
the adjournment took place.

84. At any general meeting a resolution put to the vote of the meeting shall be decided by poll save that
the chairman of the meeting may, pursuant to the Listing Rules, allow a resolution to be voted by a show of hands. Where a show of hands
is allowed, before or on the declaration of the result of the show of hands, a poll may be demanded by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at least two Shareholders present in person (or, in the case of a Shareholder being
a corporation, by its duly authorised representative) or by proxy for the time being entitled to vote at the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Shareholder or Shareholders present in person (or, in the case of a Shareholder
being a corporation, by its duly authorised representative) or by proxy and representing not less than one-tenth of the total voting rights,
on a one vote per Share basis, of all the Shareholders having the right to vote at the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any Shareholder or Shareholders present in person (or, in the case of a Shareholder
being a corporation, by its duly authorised representative) or by proxy and holding Shares conferring a right to vote at the meeting being
Shares on which an aggregate sum has been paid up equal to not less than one-tenth of the total sum paid up on all the Shares conferring
that right.

85. Where a resolution is voted on by a show of hands, a declaration by the chairman of the meeting that a
resolution has on a show of hands been carried or carried unanimously, or by a particular majority, or not carried by a particular majority,
or lost, and an entry to that effect made in the minute book of the Company shall be conclusive evidence of the facts without proof of
the number or proportion of the votes recorded in favour of or against such resolution.

86. A poll shall be taken in such manner (including the use of ballot or voting papers
or tickets or other electronic means) and at such time and place as the chairman of the meeting directs. No notice need be given of a
poll not taken immediately. The result of the poll shall be deemed to be the resolution of the meeting at which the poll was required
or demanded. In the event that a poll is demanded after the chairman of the meeting allows a show of hands pursuant to Article 84, the
demand for a poll may be withdrawn, with the consent of the chairman of the meeting, at any time before the close of the meeting at which
the poll was demanded or the taking of the poll, whichever is the earlier.

87. Any poll on the election of a chairman of a meeting or on any question of adjournment shall be taken at
the meeting and without adjournment.

88. 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 second or casting vote. In case of any dispute as to the admission or rejection of any vote, the chairman of the
meeting shall determine the same, and such determination shall be final and conclusive.

89. The demand for a poll shall not prevent the continuance of a meeting for the transaction of any business
other than the question on which a poll has been demanded.

90. If an amendment shall be proposed to any resolution under consideration but shall
in good faith be ruled out of order by the chairman of the meeting, the proceedings shall not be invalidated by any error in such ruling.
In the case of a resolution duly proposed as a Special Resolution no amendment thereto (other than a mere clerical amendment to correct
a patent error) may in any event be considered or voted upon.

**VOTES OF SHAREHOLDERS**

91. Subject to any special rights, privileges or restrictions as to voting for the time
being attached to any class or classes of Shares, at any general meeting on a poll every Shareholder present in person (or, in the case
of a Shareholder being a corporation, by its duly authorised representative) or by proxy, shall have one vote for every Share of which
he is the holder which is fully paid or credited as fully paid (but so that no amount paid or credited as paid on a Share in advance of
calls or instalments shall be treated for the purposes of this Article as paid on the Share), and on a show of hands every Shareholder
who is present in person (or, in the case of a Shareholder being a corporation, by its duly authorised representative) or by proxy shall
(save as provided otherwise in this Article) have one vote. On a poll a Shareholder entitled to more than one vote need not use all his
votes or cast all his votes in the same way. Notwithstanding anything contained in these Articles, where more than one proxy is appointed
by a Shareholder which is a Clearing House (or its nominee(s)), each such proxy shall have one vote on a show of hands and on a poll,
each such proxy is under no obligation to cast all his votes in the same way.

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| | |
|:---|:---|
| 91A. | Shareholders must have the right to: (a) speak at general meetings of the Company; and (b) vote at a general meeting except where a Shareholder is required, by the Listing Rules, to abstain from voting to approve the matter under consideration. |

---

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| | |
|:---|:---|
| 91B. | Where the Company has knowledge that any Shareholder is, under the Listing Rules, required to abstain from voting on any particular resolution or restricted to voting only for or only against any particular resolution, any votes cast by or on behalf of such Shareholder in contravention of such requirement or restriction shall not be counted. |

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92. Any person entitled under Article 51 to be registered as the holder of any Shares
may vote at any general meeting in respect thereof in the same manner as if he were the registered holder of such Shares, provided that
at least 48 hours before the time of the holding of the meeting or adjourned meeting (as the case may be) at which he proposes to vote,
he shall satisfy the Board of his right to be registered as the holder of such Shares or the Board shall have previously admitted his
right to vote at such meeting in respect thereof.

93. Where there are joint registered holders of any Share, any one of such persons
may vote at any meeting, either personally or by proxy, in respect of such Share as if he were solely entitled thereto; but if more than
one of such joint holders be present at any meeting personally or by proxy, that one of the said persons so present whose name stands
first on the Register in respect of such Share shall alone be entitled to vote in respect thereof. Several executors or administrators
of a deceased Shareholder, and several trustees in bankruptcy or liquidators of a Shareholder in whose name any Share stands shall for
the purposes of this Article be deemed joint holders thereof.

94. A Shareholder of unsound mind or in respect of whom an order has been made by any
court having jurisdiction in lunacy may vote, whether on a poll or on a show of hands, by his committee or receiver, or other person in
the nature of a committee or receiver appointed by that court, and any such committee, receiver or other person may vote on a poll by
proxy. Evidence to the satisfaction of the Board of the authority of the person claiming to exercise the right to vote shall be delivered
to such place or one of such places (if any) as is specified in accordance with these Articles for the deposit of instruments of proxy
or, if no place is specified, at the Registration Office, not later than the latest time at which an instrument of proxy must, if it is
to be valid for the meeting, be delivered.

95. Save as expressly provided in these Articles or otherwise determined by the Board, no person other than
a Shareholder duly registered and who shall have paid everything for the time being due from him payable to the Company in respect of
his Shares shall be entitled to be present or to vote (save as proxy or authorised representative for another Shareholder) whether personally,
by proxy or by attorney or to be reckoned in the quorum, at any general meeting.

96. No objection shall be raised to the qualification of any person exercising or purporting
to exercise a vote or the admissibility of any vote except at the meeting or adjourned meeting at which the vote objected to is given
or tendered, and every vote not disallowed at such meeting shall be valid for all purposes. Any such objection made in due time shall
be referred to the chairman of the meeting, whose decision shall be final and conclusive.

**APPOINTMENT OF PROXY AND CORPORATE REPRESENTATIVE**

97. Any Shareholder entitled to attend and vote at a meeting of the Company shall be
entitled to appoint another person as his proxy to attend and vote instead of him. A Shareholder who is the holder of two or more Shares
may appoint more than one proxy to represent him and vote on his behalf at a general meeting of the Company or at a class meeting. A proxy
need not be a Shareholder of the Company. On a poll or a show of hands votes may be given either personally (or, in the case of a Shareholder
being a corporation, by its duly authorised representative) or by proxy. A proxy shall be entitled to exercise the same powers on behalf
of a Shareholder who is an individual and for whom he acts as proxy as such Shareholder could exercise. In addition, a proxy shall be
entitled to exercise the same powers on behalf of a Shareholder which is a corporation and for which he acts as proxy as such Shareholder
could exercise if it were an individual Shareholder.

98. No appointment of a proxy shall be valid unless it names the person appointed and
his appointor. The Board may, unless it is satisfied that the person purporting to act as proxy is the person named in the relevant instrument
for his appointment and the validity and authenticity of the signature of his appointor, decline such person's admission to the
relevant meeting, reject his vote or, in the event that a poll is demanded after the chairman of the meeting allows a show of hands pursuant
to Article 84, his demand for a poll and no Shareholder who may be affected by any exercise by the Board of its power in this connection
shall have any claim against the Directors or any of them nor may any such exercise by the Board of its powers invalidate the proceedings
of the meeting in respect of which they were exercised or any resolution passed or defeated at such meeting.

99. The instrument appointing a proxy shall be in writing under the hand of the appointor
or of his attorney duly authorised in writing, or if the appointor is a corporation, either under seal or under the hand of an officer
or attorney duly authorised.

100. (a) The Company may, at its absolute discretion, provide an electronic address for the receipt of any document or information relating to
proxies for a general meeting (including any instrument of proxy or invitation to appoint a proxy, any document necessary to show the
validity of, or otherwise relating to, an appointment of proxy (whether or not required under these Articles) and notice of termination
of the authority of a proxy). If such an electronic address is provided, the Company shall be deemed to have agreed that any such document
or information (relating to proxies as aforesaid) may be sent by electronic means to that address, subject as hereafter provided and
subject to any other limitations or conditions specified by the Company when providing the address. Without limitation, the Company may
from time to time determine that any such electronic address may be used generally for such matters or specifically for particular meetings
or purposes and, if so, the Company may provide different electronic addresses for different purposes. The Company may also impose any
conditions on the transmission of and its receipt of such electronic communications including, for the avoidance of doubt, imposing any
security or encryption arrangements as may be specified by the Company. If any document or information referred to in this Article is
sent to the Company by electronic means, such document or information is not treated as validly delivered to or deposited with the Company
if the same is not received by the Company at its designated electronic address provided in accordance with this Article or if no electronic
address is so designated by the Company for the receipt of such document or information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 instrument appointing a proxy and, if requested by the Board, the power of attorney or other
 authority (if any) under which it is signed or a notarially certified copy of that power
 or authority shall be deposited at such place or one of such places (if any) as is specified
 in the notice of meeting or in the instrument of proxy issued by the Company (or, if no place
 is specified, at the Registration Office) not less than 48 hours before the time for holding
 the meeting or adjourned meeting (as the case may be) at which the person named in such instrument
 proposes to vote, and in default the instrument of proxy shall not be treated as valid. No
 instrument appointing a proxy shall be valid after the expiration of 12 Months from the date
 of its execution, except at an adjourned meeting where the meeting was originally held within
 12 Months from such date. Delivery of an instrument appointing a proxy shall not preclude
 a Shareholder from attending and voting in person (or in the case of a Shareholder being
 a corporation, its duly authorised representative) at the meeting concerned and, in such
 event, the instrument appointing a proxy shall be deemed to be revoked.

101. Every
 instrument of proxy, whether for a specified meeting or otherwise, shall be in such form
 as the Board may from time to time approve, provided that it shall not preclude the use of
 the two-way form. Any form issued to a Shareholder for use by him for appointing a proxy
 to attend and vote at an extraordinary general meeting or at an annual general meeting at
 which any business is to be transacted shall be such as to enable the Shareholder, according
 to his intentions, to instruct the proxy to vote in favour of or against (or, in default
 of instructions, to exercise his discretion in respect of) each resolution dealing with any
 such business.

102. The
 instrument appointing a proxy to vote at a general meeting shall: (i) be deemed to confer
 authority upon the proxy to demand or join in demanding a poll and to vote on any resolution
 (or amendment thereto) put to the meeting for which it is given as the proxy thinks fit;
 and (ii) unless the contrary is stated therein, be valid as well for any adjournment of the
 meeting as for the meeting to which it relates.

103. A
 vote given in accordance with the terms of an instrument of proxy or by the duly authorised
 representative of a corporation shall be valid notwithstanding the previous death or insanity
 of the principal or revocation of the proxy or power of attorney or other authority under
 which the proxy was executed or the transfer of the Share in respect of which the proxy is
 given, provided that no intimation in writing of such death, insanity, revocation or transfer
 as aforesaid shall have been received by the Company at its Registration Office, or at such
 other place as is referred to in Article 100(b), at least two hours before the commencement
 of the meeting or adjourned meeting at which the proxy is used.

104. (a) Any corporation which is a Shareholder may, by resolution of
its directors or other governing body or by power of attorney, authorise such person as it thinks fit to act as its representative at
any meeting of the Company or of any class of Shareholders of the Company, and the person so authorised shall be entitled to exercise
the same rights and powers on behalf of the corporation which he represents as that corporation could exercise if it were an individual
Shareholder of the Company. References in these Articles to a Shareholder present in person at a meeting shall, unless the context otherwise
requires, include a corporation which is a Shareholder represented at the meeting by such duly authorised representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Where
 a Shareholder is a Clearing House (or its nominee(s)), it may (subject to Article 93) authorise
 such person or persons as it thinks fit to act as its representative or representatives at
 any meeting of the Company or at any meeting of any class of Shareholders, or at any meeting
 of the creditors of the Company provided that if more than one person is so authorised, the
 authorisation shall specify the number and class of Shares in respect of which each such
 representative is so authorised. A person so authorised pursuant to the provisions of this
 Article shall be deemed to have been duly authorised without further evidence of the facts
 and be entitled to exercise the same rights and powers on behalf of the Clearing House (or
 its nominee(s)) which he represents as that Clearing House (or its nominee(s)) could exercise
 as if such person were an individual Shareholder, including the right to speak and vote.

105. Unless
 the Board agrees otherwise, an appointment of a corporate representative shall not be valid
 as against the Company unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 the case of such an appointment by a Shareholder which is a Clearing House (or its nominee(s)),
 a written notification of the appointment issued by any director, the secretary or any authorised
 officer(s) of such Shareholder shall have been delivered at such place or one of such places
 (if any) as is specified in the notice of meeting or in the form of notice issued by the
 Company, or handed to the chairman of the meeting at the meeting or, if no place is specified,
 at the principal place of business maintained by the Company in the Relevant Territory from
 time to time before the time of holding the meeting or adjourned meeting at which the person
 so authorised proposes to vote or handed to the chairman of the meeting at the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of such an appointment by any other corporate Shareholder, a copy of the resolution
 of its directors or other governing body of the Shareholder authorising the appointment of
 the corporate representative or a form of notice of appointment of corporate representative
 issued by the Company for such purpose or a copy of the relevant power of attorney, together
 with an up-to-date copy of the Shareholder's constitutive documents and a list of directors
 or members of the governing body of the Shareholder as at the date of such resolution, or,
 as the case may be, power of attorney, in each case certified by a director, secretary or
 a member of the governing body of that Shareholder and notarised, or, in the case of a form
 of notice of appointment issued by the Company as aforesaid, completed and signed in accordance
 with the instructions thereon or in the case of a power of attorney a notarised copy of the
 relevant authority under which it was signed, shall have been deposited at such place or
 one of such places (if any) as is specified in the notice of meeting or in the form of notice
 issued by the Company as aforesaid (or, if no place is specified, at the Registration Office)
 not less than 48 hours before the time for holding the meeting or adjourned meeting or poll
 (as the case may be) at which the corporate representative proposes to vote.

106. No
 appointment of a corporate representative shall be valid unless it names the person authorised
 to act as the appointor's representative and the appointor is also named. The Board
 may, unless it is satisfied that a person purporting to act as a corporate representative
 is the person named in the relevant instrument for his appointment, decline such person's
 admission to the relevant meeting and/or reject his vote or demand for a poll and no Shareholder
 who may be affected by any exercise by the Board of its power in this connection shall have
 any claim against the Board or any of them nor may any such exercise by the Board of its
 powers invalidate the proceedings of the meeting in respect of which they were exercised
 or any resolution passed or defeated at such meeting.

**REGISTERED OFFICE**

107. The
 Registered Office of the Company shall be at such place in the Cayman Islands as the Board
 shall from time to time decide.

**BOARD OF DIRECTORS**

108. The
 number of Directors shall not be less than two (2). The Company shall keep at its Registered
 Office a register of its directors and officers in accordance with the Companies Act.

109. A
 Director may at any time, by notice in writing signed by him delivered to the Registered
 Office or at the Head Office or at a meeting of the Board, appoint any person (including
 another Director) to act as alternate Director in his place during his absence and may in
 like manner at any time terminate such appointment. If such person is not another Director
 such appointment unless previously approved by the Board shall have effect only upon and
 subject to being so approved. The appointment of an alternate Director shall terminate on
 the happening of any event which, were he a Director, would cause him to vacate such office
 or if his appointor ceases to be a Director. An alternate Director may act as alternate to
 more than one Director.

110. (a) An alternate Director shall (subject to his giving to the Company
an address, telephone and facsimile number within the territory of the Head Office for the time being for the giving of notices on him
and except when absent from the territory in which the Head Office is for the time being situate) be entitled (in addition to his appointor)
to receive and (in lieu of his appointor) to waive notices of meetings of the Board and of any committee of the Board of which his appointor
is a member and shall be entitled to attend and vote as a Director at any such meeting at which the Director appointing him is not personally
present and generally at such meeting to perform all the functions of his appointor as a Director and for the purposes of the proceedings
at such meeting the provisions of these Articles shall apply as if he (instead of his appointor) were a Director. If he shall be himself
a Director or shall attend any such meeting as an alternate for more than one Director his voting rights shall be cumulative. If his
appointor is for the time being absent from the territory in which the Head Office is for the time being situate or otherwise not available
or unable to act, his signature to any resolution in writing of the Directors or any such committee shall be as effective as the signature
of his appointor. His attestation of the affixing of the Seal shall be as effective as the signature and attestation of his appointor.
An alternate Director shall not, save as aforesaid, have power to act as a Director nor shall he be deemed to be a Director for the purposes
of these Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) An
 alternate Director shall be entitled to contract and be interested in and benefit from contracts
 or arrangements or transactions and to be repaid expenses and to be indemnified to the same
 extent mutatis mutandis as if he were a Director, but he shall not be entitled to receive
 from the Company in respect of his appointment as alternate Director any remuneration except
 only such part (if any) of the ordinary remuneration otherwise payable to his appointor as
 such appointor may by notice in writing to the Company from time to time direct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A
 certificate by a Director (including for the purpose of this paragraph (c) an alternate Director)
 or the Secretary that a Director (who may be the one signing the certificate) was at the
 time of a resolution of the Directors or any committee thereof absent from the territory
 of the Head Office or otherwise not available or unable to act or has not supplied an address,
 telephone and facsimile number within the territory of the Head Office for the purposes of
 giving of notice to him shall in favour of all persons without express notice to the contrary,
 be conclusive of the matter so certified.

111. A
 Director or an alternate Director shall not be required to hold any qualification Shares
 but shall nevertheless be entitled to attend and speak at all general meetings of the Company
 and all meetings of any class of Shareholders of the Company.

112. The
 Directors shall be entitled to receive by way of ordinary remuneration for their services
 as Directors such sum as shall from time to time be determined by the Company in general
 meeting or by the Board, such sum (unless otherwise directed by the resolution by which it
 is voted) to be divided amongst the Directors in such proportions and in such manner as they
 may agree, or failing agreement, equally, except that in such event any Director holding
 office for less than the whole of the relevant period in respect of which the ordinary remuneration
 is paid shall only rank in such division in proportion to the time during such period for
 which he has held office. Such remuneration shall be in addition to any other remuneration
 to which a Director who holds any salaried employment or office in the Company may be entitled
 by reason of such employment or office.

113. The
 Directors shall also be entitled to be repaid all travelling, hotel and other expenses reasonably
 incurred by them respectively in or about the performance of their duties as Directors, including
 their expenses of travelling to and from Board meetings, committee meetings or general meetings
 or otherwise incurred whilst engaged on the business of the Company or in the discharge of
 their duties as Directors.

114. The
 Board may grant special remuneration to any Director who shall perform or has performed any
 special or extra services at the request of the Company. Such special remuneration may be
 made payable to such Director in addition to or in substitution for his ordinary remuneration
 as a Director, and may be made payable by way of salary, commission or participation in profits
 or otherwise as may be arranged.

115. Notwithstanding
 Articles 100, 101 and 102, the remuneration of a managing director, joint managing director,
 deputy managing director or an executive director or a Director appointed to any other office
 in the management of the Company may from time to time be fixed by the Board and may be by
 way of salary, commission, or participation in profits or otherwise or by all or any of those
 modes and with such other benefits (including pension and/or gratuity and/or other benefits
 on retirement) and allowances as the Board may from time to time decide. Such remuneration
 shall be in addition to his ordinary remuneration as a Director.

116. (a) Payments to any Director or past director of the Company of
any sum by way of compensation for loss of office or as consideration for or in connection with his retirement from office (not being
a payment to which the director of the Company or past director is contractually or statutorily entitled) must be approved by the Company
in general meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except
 as would, if the Company were a company incorporated in Hong Kong, be permitted by the Companies
 Ordinance as in force at the date of adoption of these Articles, and except as permitted
 under the Companies Act, the Company shall not directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) make
 a loan to a Director or a director of any Holding Company of the Company or any of their
 respective Close Associates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) enter
 into any guarantee or provide any security in connection with a loan made by any person to
 a Director or a director of any Holding Company of the Company or any of their respective
 Close Associates; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if
 any one or more of the Directors hold (jointly or severally or directly or indirectly) a
 controlling interest in another company, make a loan to that other company or enter into
 any guarantee or provide any security in connection with a loan made by any person to that
 other company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Article
 116(a) and (b) shall only apply during the Relevant Period.

117. A
 Director shall vacate his office:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 he becomes bankrupt or has a receiving order made against him or suspends payment or compounds
 with his creditors generally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 he dies or becomes of unsound mind as determined pursuant to an order made by any competent
 court or official on the grounds that he is or may be suffering from mental disorder or is
 otherwise incapable of managing his affairs and the Board resolves that his office be vacated;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 he absents himself from the meetings of the Board during a continuous period of six months,
 without special leave of absence from the Board, and his alternate Director (if any) shall
 not during such period have attended in his stead, and the Board pass a resolution that he
 has by reason of such absence vacated his office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if
 he becomes prohibited by law from acting as a Director, or he ceases to be a Director by
 virtue of any provision of law or is removed from office pursuant to these Articles; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) if
 he has been validly required by the stock exchange of the Relevant Territory to cease to
 be a Director and the relevant time period for application for review of or appeal against
 such requirement has lapsed and no application for review or appeal has been filed or is
 underway against such requirement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if
 by notice in writing delivered to the Company at its Registered Office or at the Head Office
 or tendered at a meeting of the Board he resigns his office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) if
 he shall be removed from office by an Ordinary Resolution of the Company under Article 126;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) if
 he shall be removed from the office by notice in writing served on him signed by not less
 than ¾ in number (or if that is not a round number, the nearest lower round number)
 of the Directors (including himself) then in office.

118. No
 Director shall be required to vacate office or be ineligible for re-election or re-appointment
 as a Director, and no person shall be ineligible for appointment as a Director by reason
 only of his having attained any particular age.

119. (a) No Director or intended Director shall be disqualified by his
office from contracting with the Company either as vendor, purchaser or otherwise nor shall any such contract or any contract or arrangement
entered into by or on behalf of the Company with any person, company or partnership of or in which any Director shall be a member or
otherwise interested be capable on that account of being avoided, nor shall any Director so contracting or being any member or so interested
be liable to account to the Company for any profit so realised by any such contract or arrangement by reason only of such Director holding
that office or the fiduciary relationship thereby established, provided that such Director shall, if his interest in such contract or
arrangement is material, declare the nature of his interest at the earliest meeting of the Board at which it is practicable for him to
do so, either specifically or by way of a general notice stating that, by reason of the facts specified in the notice, he is to be regarded
as interested in any contracts of a specified description which may subsequently be made by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 Director may continue to be or become a director, managing director, joint managing director,
 deputy managing director, executive director, manager or other officer or member of any other
 company in which the Company may be interested and (unless otherwise agreed between the Company
 and the Director) no such Director shall be liable to account to the Company or the Shareholders
 for any remuneration or other benefits received by him as a director, managing director,
 joint managing director, deputy managing director, executive director, manager or other officer
 or member of any such other company. The Directors may exercise the voting powers conferred
 by the shares in any other company held or owned by the Company, or exercisable by them as
 directors of such other company in such manner in all respects as they think fit (including
 the exercise thereof in favour of any resolution appointing themselves or any of them as
 directors, managing directors, joint managing directors, deputy managing director, executive
 directors, managers or other officers of such company) and any Director may vote in favour
 of the exercise of such voting rights in the manner aforesaid notwithstanding that he may
 be, or is about to be, appointed a director, managing director, joint managing director,
 deputy managing director, executive director, manager or other officer of such a company,
 and that as such he is or may become interested in the exercise of such voting rights in
 the manner aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A
 Director may hold any other office or place of profit with the Company (except that of Auditors)
 in conjunction with his office of Director for such period and upon such terms as the Board
 may determine, and may be paid such extra remuneration therefor (whether by way of salary,
 commission, participation in profit or otherwise) as the Board may determine, and such extra
 remuneration shall be in addition to any remuneration provided for by or pursuant to any
 other Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A
 Director shall not vote (nor shall he be counted in the quorum) on any resolution of the
 Board in respect of any contract or arrangement or proposal in which he or any of his Close
 Associate(s) has/have a material interest, and if he shall do so his vote shall not be counted
 (nor shall he be counted in the quorum for that resolution), but this prohibition shall not
 apply to any of the following matters namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 giving of any security or indemnity either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) to
 the Director or his Close Associate(s) in respect of money lent or obligations incurred or
 undertaken by him or any of them at the request of or for the benefit of the Company or any
 of its subsidiaries; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) to
 a third party in respect of a debt or obligation of the Company or any of its subsidiaries
 for which the Director or his Close Associate(s) has himself/ themselves assumed responsibility
 in whole or in part and whether alone or jointly under a guarantee or indemnity or by the
 giving of security;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any
 proposal concerning an offer of shares or debentures or other securities of or by the Company
 or any other company which the Company may promote or be interested in for subscription or
 purchase where the Director or his Close Associate(s) is/are or is/are to be interested as
 a participant in the underwriting or sub-underwriting of the offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any
 proposal or arrangement concerning the benefit of employees of the Company or its subsidiaries
 including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the
 adoption, modification or operation of any employees' share scheme or any share incentive
 or share option scheme under which the Director or his Close Associate(s) may benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the
 adoption, modification or operation of a pension fund or retirement, death or disability
 benefits scheme which relates both to Directors, his Close Associates and employees of the
 Company or any of its subsidiaries and does not provide in respect of any Director or his
 Close Associate(s), as such any privilege or advantage not generally accorded to the class
 of persons to which such scheme or fund relates; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any
 contract or arrangement in which the Director or his Close Associate(s) is/ are interested
 in the same manner as other holders of shares or debentures or other securities of the Company
 by virtue only of his/their interest in shares or debentures or other securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Where
 proposals are under consideration concerning the appointment (including fixing or varying
 the terms of or terminating the appointment) of two or more Directors to offices or employments
 with the Company or any company in which the Company is interested, such proposals shall
 be divided and considered in relation to each Director separately and in such case each of
 the Directors concerned (if not prohibited from voting under paragraph (d)) shall be entitled
 to vote (and be counted in the quorum) in respect of each resolution except that concerning
 his own appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If
 any question shall arise at any meeting of the Board as to the materiality of the interest
 of a Director (other than the chairman of the meeting) or his Close Associates or as to the
 entitlement of any Director (other than the chairman of the meeting) to vote or be counted
 in the quorum and such question is not resolved by his voluntarily agreeing to abstain from
 voting or not to be counted in the quorum, such question shall be referred to the chairman
 of the meeting and his ruling in relation to such other Director shall be final and conclusive
 except in a case where the nature or extent of the interest of the Director or his Close
 Associates concerned as known to such Director has not been fairly disclosed to the Board.
 If any question as aforesaid shall arise in respect of the chairman of the meeting or his
 Close Associates such question shall be decided by a resolution of the Board (for which purpose
 such chairman shall not be counted in the quorum and shall not vote thereon) and such resolution
 shall be final and conclusive except in a case where the nature or extent of the interest
 of such chairman or his Close Associates as known to him has not been fairly disclosed to
 the Board.

**APPOINTMENT AND ROTATION OF DIRECTORS**

120. (a) Notwithstanding any other provisions in these Articles, at
each annual general meeting one-third of the Directors for the time being, or, if their number is not three or a multiple of three, then
the number nearest to but not less than one-third, shall retire from office by rotation provided that every Director (including those
appointed for a specific term) shall be subject to retirement by rotation at least once every three years. A retiring Director shall
be eligible for re-election. The Company at the general meeting at which a Director retires may fill the vacated office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors to retire by rotation shall include (so far as necessary to obtain the number required)
 any Director who wishes to retire and not to offer himself for re-election. Any Director
 who has not been subject to retirement by rotation in the three years preceding the annual
 general meeting shall retire by rotation at such annual general meeting. Any further Directors
 so to retire shall be those who have been longest in office since their last re-election
 or appointment and so that as between persons who became or were last re-elected Directors
 on the same day those to retire shall (unless they otherwise agree among themselves) be determined
 by lot.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A
 Director is not required to retire upon reaching any particular age.

121. If
 at any general meeting at which an election of Directors ought to take place, the places
 of the retiring Directors are not filled, the retiring Directors or such of them as have
 not had their places filled shall be deemed to have been re-elected and shall, if willing,
 continue in office until the next annual general meeting and so on from year to year until
 their places are filled, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it
 shall be determined at such meeting to reduce the number of Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) it
 is expressly resolved at such meeting not to fill such vacated offices; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in
 any such case the resolution for re-election of a Director is put to the meeting and lost;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such
 Director has given notice in writing to the Company that he is not willing to be re-elected.

122. The
 Company in general meeting may from time to time fix and may from time to time by Ordinary
 Resolution increase or reduce the maximum and minimum number of Directors but so that the
 number of Directors shall not be less than two (2).

123. The
 Company may from time to time in general meeting by Ordinary Resolution elect any person
 to be a Director either to fill a casual vacancy or as an additional Director. Any Director
 so appointed shall be subject to retirement by rotation pursuant to Article 120.

124. The
 Board shall have power from time to time and at any time to appoint any person as a Director
 either to fill a casual vacancy or as an additional Director but so that the number of Directors
 so appointed shall not exceed the maximum number determined from time to time by the Shareholders
 in general meeting. Any Director appointed by the Board to fill a casual vacancy shall hold
 office only until the first annual general meeting of the Company after his appointment and
 be subject to re-election at such meeting. Any Director appointed by the Board as an addition
 to the existing Board shall hold office only until the next annual general meeting of the
 Company after his appointment and shall then be eligible for re-election. Any Director appointed
 under this Article shall not be taken into account in determining the Directors or the number
 of Directors who are to retire by rotation at an annual general meeting.

125. No
 person, other than a retiring Director, shall, unless recommended by the Board for election,
 be eligible for election to the office of Director at any general meeting, unless notice
 in writing of the intention to propose that person for election as a Director and notice
 in writing by that person of his willingness to be elected shall have been lodged at the
 Head Office or at the Registration Office. The period for lodgement of the notices required
 under this Article will commence no earlier than the day after the despatch of the notice
 of the general meeting appointed for such election and end no later than seven days prior
 to the date of such general meeting and the minimum length of the period during which such
 notices to the Company may be given will be at least seven days.

126. The
 Shareholders may by Ordinary Resolution remove any Director (including a managing director
 or other executive director) before the expiration of his term of office notwithstanding
 anything in these Articles or in any agreement between the Company and such Director (but
 without prejudice to any claim which such Director may have for damages for any breach of
 any contract between him and the Company) and may by Ordinary Resolution elect another person
 in his stead. Any Director so appointed shall be subject to retirement by rotation pursuant
 to Article 120.

**BORROWING POWERS**

127. The
 Board may from time to time at its discretion exercise all the powers of the Company to raise
 or borrow or to secure the payment of any sum or sums of money for the purposes of the Company
 and to mortgage or charge its undertaking, property and uncalled capital or any part thereof.

128. The
 Board may raise or secure the payment or repayment of such sum or sums in such manner and
 upon such terms and conditions in all respects as it thinks fit and in particular but subject
 to the provisions of the Companies Act, by the issue of debentures, debenture stock, bonds
 or other securities of the Company, whether outright or as collateral security for any debt,
 liability or obligation of the Company or of any third party.

129. Debentures,
 debenture stock, bonds and other securities (other than Shares which are not fully paid)
 may be made assignable free from any equities between the Company and the person to whom
 the same may be issued.

130. Any
 debentures, debenture stock, bonds or other securities (other than Shares) may be issued
 at a discount, premium or otherwise and with any special privileges as to redemption, surrender,
 drawings, allotment or subscription of or conversion into Shares, attending and voting at
 general meetings of the Company, appointment of Directors and otherwise.

131. The
 Directors shall cause a proper register to be kept, in accordance with the provisions of
 the Companies Act, of all mortgages and charges specifically affecting the property of the
 Company and shall duly comply with such provisions of the Companies Act with regard to the
 registration of mortgages and charges as may be specified or required.

132. If
 the Company issues a series of debentures or debenture stock not transferable by delivery,
 the Board shall cause a proper register to be kept of the holders of such debentures.

133. Where
 any uncalled capital of the Company is charged, all persons taking any subsequent charge
 thereon shall take the same subject to such prior charge, and shall not be entitled, by notice
 to the Shareholders or otherwise, to obtain priority over such prior charge.

**MANAGING DIRECTORS, ETC.**

134. The
 Board may from time to time appoint any one or more of them to the office of managing director,
 joint managing director, deputy managing director or other executive director and/ or such
 other office in the management of the business of the Company as it may decide for such period
 and upon such terms as it thinks fit and upon such terms as to remuneration as it may decide
 in accordance with Article 115.

135. Every
 Director appointed to an office under Article 134 hereof shall, but without prejudice to
 any claim for damages for breach of any contract of service between himself and the Company,
 be liable to be dismissed or removed therefrom by the Board.

136. A
 Director appointed to an office under Article 134 shall be subject to the same provisions
 as to resignation and removal as the other Directors of the Company, and he shall ipso facto
 and immediately cease to hold such office if he shall cease to hold the office of Director
 for any cause.

137. The
 Board may from time to time entrust to and confer upon a chairman, vice chairman, managing
 director, joint managing director, deputy managing director or executive director all or
 any of the powers of the Board that it may think fit provided that the exercise of all powers
 by such Director shall be subject to such regulations and restrictions as the Board may from
 time to time make and impose, and, subject to the terms thereof, the said powers may at any
 time be withdrawn, revoked or varied, but no person dealing in good faith and without notice
 of such withdrawal, revocation or variation shall be affected thereby.

138. The
 Board may from time to time appoint any person to an office or employment having a designation
 or title including the word "director" or attach to any existing office or employment
 with the Company such a designation or title. The inclusion of the word "director"
 in the designation or title of any office or employment with the Company (other than the
 office of managing director or joint managing director or deputy managing director or executive
 director) shall not imply that the holder thereof is a Director nor shall such holder be
 empowered in any respect to act as a Director or be deemed to be a Director for any of the
 purposes of these Articles.

**MANAGEMENT**

139. The
 business of the Company shall be managed by the Board who, in addition to the powers and
 authorities by these Articles expressly conferred upon it, may exercise all such powers and
 do all such acts and things as may be exercised or done or approved by the Company and are
 not hereby or by the Companies Act expressly directed or required to be exercised or done
 by the Company in general meeting, but subject nevertheless to the provisions of the Companies
 Act and of these Articles and to any regulations from time to time made by the Company in
 general meeting not being inconsistent with such provisions or these Articles, provided that
 no regulation so made shall invalidate any prior act of the Board which would have been valid
 if such regulation had not been made.

140. Without
 prejudice to the general powers conferred by these Articles, it is hereby expressly declared
 that the Board shall have the following powers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 give to any person the right or option of requiring at a future date that an allotment shall
 be made to him of any Share at par or at such premium and on such other terms as may be agreed;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 give to any Directors, officers or employees of the Company an interest in any particular
 business or transaction or participation in the profits thereof or in the general profits
 of the Company either in addition to or in substitution for a salary or other remuneration.

**MANAGERS**

141. The
 Board may from time to time appoint a general manager, manager or managers of the business
 of the Company and may fix his or their remuneration either by way of salary or commission
 or by conferring the right to participation in the profits of the Company or by a combination
 of two or more of these modes and pay the working expenses of any of the staff of the general
 manager, manager or managers who may be employed by him or them upon the business of the
 Company.

142. The
 appointment of such general manager, manager or managers may be for such period as the Board
 may decide and the Board may confer upon him or them all or any of the powers of the Board
 and such title or titles as it may think fit.

143. The
 Board may enter into such agreement or agreements with any such general manager, manager
 or managers upon such terms and conditions in all respects as it may in its absolute discretion
 think fit, including a power for such general manager, manager or managers to appoint an
 assistant manager or managers or other employees whatsoever under them for the purpose of
 carrying on the business of the Company.

**CHAIRMAN AND OTHER OFFICERS**

144. The
 Board may from time to time elect or otherwise appoint one of them to the office of chairman
 of the Company and another to be the vice chairman of the Company (or two or more vice Chairmen)
 and determine the period for which each of them is to hold office. The chairman of the company
 or, in his absence, the vice chairman of the Company shall preside as chairman at meetings
 of the Board, but if no such chairman or vice chairman be elected or appointed, or if at
 any meeting the chairman or vice chairman is not present within five minutes after the time
 appointed for holding the same and willing to act, the Directors present shall choose one
 of their number to be chairman of such meeting. All the provisions of Articles 115, 120,
 149, 150 and 151 shall mutatis mutandis apply to any Directors elected or otherwise appointed
 to any office in accordance with the provisions of this Article.

**PROCEEDINGS OF THE DIRECTORS**

145. The
 Board may meet together for the despatch of business, adjourn and otherwise regulate its
 meetings and proceedings as it thinks fit and may determine the quorum necessary for the
 transaction of business. Unless otherwise determined two Directors shall be a quorum. For
 the purpose of this Article an alternate Director shall be counted in a quorum separately
 in respect of himself (if a Director) and in respect of each Director for whom he is an alternate
 and his voting rights shall be cumulative and he need not use all his votes or cast all his
 votes in the same way. A meeting of the Board or any committee of the Board may be held by
 means of such telephone, electronic or other communication facilities as permit all persons
 participating in the meeting to communicate with each other simultaneously and instantaneously,
 and participation in such a meeting shall constitute presence in person at such meeting.

146. A
 Director may, and on the request of a Director the Secretary shall, at any time summon a
 meeting of the Board which may be held in any part of the world, but no such meeting shall
 be summoned to be held outside the territory in which the Head Office is for the time being
 situate without the prior approval of the Board. Notice thereof shall be given to each Director
 and alternate Director in person orally or in writing or by telephone or by telex or telegram
 or facsimile transmission at the telephone or facsimile number or address from time to time
 notified to the Company by such Director or in such other manner as the Board may from time
 to time determine. A Director absent or intending to be absent from the territory in which
 the Head Office is for the time being situate may request the Board or the Secretary that
 notices of Board meetings shall during his absence be sent in writing to him at his last
 known address, facsimile or telex number or any other address, facsimile or telex number
 given by him to the Company for this purpose, but such notices need not be given any earlier
 than notices given to the other Directors not so absent and in the absence of any such request
 it shall not be necessary to give notice of a Board meeting to any Director who is for the
 time being absent from such territory.

147. Subject
 to Article 119, questions arising at any meeting of the Board shall be decided by a majority
 of votes, and in case of an equality of votes the chairman of the meeting shall have a second
 or casting vote.

148. A
 meeting of the Board for the time being at which a quorum is present shall be competent to
 exercise all or any of the authorities, powers and discretions by or under these Articles
 for the time being vested in or exercisable by the Board generally.

149. The
 Board may delegate any of its powers to committees consisting of such member(s) of them and
 such other person(s) as it thinks fit, and it may from time to time revoke such delegation
 or revoke the appointment of and discharge any such committees either wholly or in part,
 and either as to persons or purposes, but every committee so formed shall in the exercise
 of the powers so delegated conform to any regulations that may from time to time be imposed
 upon it by the Board.

150. All
 acts done by any such committee in conformity with such regulations and in fulfilment of
 the purposes for which it is appointed, but not otherwise, shall have the like force and
 effect as if done by the Board, and the Board shall have power, with the consent of the Company
 in general meeting, to remunerate the members of any special committee, and charge such remuneration
 to the current expenses of the Company.

151. The
 meetings and proceedings of any such committee consisting of two or more members shall be
 governed by the provisions herein contained for regulating the meetings and proceedings of
 the Board so far as the same are applicable thereto and are not replaced by any regulations
 imposed by the Board pursuant to Article 149.

152. All
 acts bona fide done by any meeting of the Board or by any such committee or by any person
 acting as a Director shall, notwithstanding that it shall be afterwards discovered that there
 was some defect in the appointment of such Director or persons acting as aforesaid or that
 they or any of them were disqualified, be as valid as if every such person had been duly
 appointed and was qualified to be a Director or member of such committee.

153. The
 continuing Directors may act notwithstanding any vacancy in their body, but, if and so long
 as their number is reduced below the number fixed by or pursuant to these Articles as the
 necessary quorum of the Board meeting, the continuing Director or Directors may act for the
 purpose of increasing the number of Directors to that number of the necessary quorum or of
 summoning a general meeting of the Company but for no other purpose.

154. (a) A resolution in writing signed by all the Directors (or their
respective alternate Directors) shall be as valid and effectual as if it had been passed at a meeting of the Board duly convened and
held. Any such resolutions in writing may consist of several documents in like form each signed by one or more of the Directors or alternate
Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Where
 a Director is, on the date on which a resolution in writing is last signed by a Director,
 absent from the territory in which the Head Office is for the time being situated, or cannot
 be contacted at his last known address or contact telephone or facsimile number, or is temporarily
 unable to act through ill-health or disability and, in each case, his alternate (if any)
 is affected by any of these events, the signature of such Director (or his alternate) to
 the resolution shall not be required, and the resolution in writing, so long as such a resolution
 shall have been signed by at least two Directors or their respective alternates who are entitled
 to vote thereon or such number of Directors as shall form a quorum, shall be deemed to have
 been passed at a meeting of the Board duly convened and held, provided that a copy of such
 resolution has been given or the contents thereof communicated to all the Directors (or their
 respective alternates) for the time being entitled to receive notices of meetings of the
 Board at their respective last known address, telephone or facsimile number or, if none,
 at the Head Office and provided further that no Director is aware of or has received from
 any Director any objection to the resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A
 certificate signed by a Director (who may be one of the signatories to the relevant resolution
 in writing) or the Secretary as to any of the matters referred to in paragraph (a) or (b)
 of this Article shall in the absence of express notice to the contrary of the person relying
 thereon, be conclusive of the matters stated on such certificate.

**MINUTES AND CORPORATE RECORDS**

155. (a) The Board shall cause minutes to be made of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all
 appointments of officers made by it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 names of the Directors present at each meeting of the Board and of committees appointed pursuant
 to Article 149; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) all
 resolutions and proceedings at all meetings of the Company and of the Board and of such committees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 such minutes shall be conclusive evidence of any such proceedings if they purport to be signed
 by the chairman of the meeting at which the proceedings were held or by the chairman of the
 next succeeding meeting.

**SECRETARY**

156. The
 Secretary shall be appointed by the Board for such term, at such remuneration and upon such
 conditions as it may think fit, and any Secretary so appointed may, without prejudice to
 his right under any contract with the Company, be removed by the Board. Anything by the Companies
 Act or these Articles required or authorised to be done by or to the Secretary, if the office
 is vacant or there is for any other reason no Secretary capable of acting, may be done by
 or to any assistant or deputy Secretary, or if there is no assistant or deputy Secretary
 capable of acting, by or to any officer of the Company authorised generally or specifically
 on behalf of the Board.

157. The
 Secretary shall attend all meetings of the Shareholders and shall keep correct minutes of
 such meetings and enter the same in the proper books provided for the purpose. He shall perform
 such other duties as are prescribed by the Companies Act and these Articles, together with
 such other duties as may from time to time be prescribed by the Board.

158. A
 provision of the Companies Act or of these Articles requiring or authorising a thing to be
 done by or to a Director and the Secretary shall not be satisfied by its being done by or
 to the same person acting both as Director and as, or in place of the Secretary.

**GENERAL MANAGEMENT AND USE OF THE SEAL**

159. (a) Subject to the Companies Act, the Company shall have one or
more Seals as the Board may determine, and may have a Seal for use outside the Cayman Islands. The Board shall provide for the safe custody
of each Seal, and no Seal shall be used without the authority of the Board or a committee authorised by the Board in that behalf.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Every
 instrument to which a Seal shall be affixed shall be signed autographically by one Director
 and the Secretary, or by two Directors, or by any person or persons (including a Director
 and/or the Secretary) appointed by the Board for the purpose, provided that as regards any
 certificates for Shares or Debentures or other securities of the Company, the Board may by
 resolution determine that such signatures or either of them shall be dispensed with or affixed
 by some method or system of mechanical signature other than autographic or may be printed
 thereon as specified in such resolution or that such certificates need not be signed by any
 person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Company may have a Securities Seal for use for sealing certificates for shares or other securities
 issued by the Company and no signature of any Director, officer or other person and no mechanical
 reproduction thereof shall be required on any such certificates or other document and any
 such certificates or other document to which such Securities Seal is affixed shall be valid
 and deemed to have been sealed and executed with the authority of the Board notwithstanding
 the absence of any such signature or mechanical reproduction as aforesaid. The Board may
 by resolution determine that the affixation of Securities Seal on certificates for shares
 or other securities issued by the Company be dispensed with or be affixed by printing the
 image of the Securities Seal on such certificates.

160. All
 cheques, promissory notes, drafts, bills of exchange and other negotiable instruments, and
 all receipts for moneys paid to the Company shall be signed, drawn, accepted, endorsed or
 otherwise executed, as the case may be, in such manner as the Board shall from time to time
 by resolution determine. The Company's banking accounts shall be kept with such banker
 or bankers as the Board shall from time to time determine.

161. (a) The Board may from time to time and at any time, by power of
attorney under the Seal, appoint any company, firm or person or any fluctuating body of persons, whether nominated directly or indirectly
by the Board, to be the attorney or attorneys of the Company for such purposes and with such powers, authorities and discretions (not
exceeding those vested in or exercisable by the Board under these Articles) and for such period and subject to such conditions as it
may think fit, and any such power of attorney may contain such provisions for the protection and convenience of persons dealing with
any such attorney as the Board may think fit, and may also authorise any such attorney to sub-delegate all or any of the powers, authorities
and discretions vested in him.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Company may, by writing under its Seal, empower any person, either generally or in respect
 of any specified matter, as its attorney to execute deeds and instruments on its behalf and
 to enter into contracts and sign the same on its behalf and every deed signed by such attorney
 on behalf of the Company and under his seal shall bind the Company and have the same effect
 as if it were under the Seal duly affixed by the Company.

162. The
 Board may establish any committees, regional or local boards or agencies for managing any
 of the affairs of the Company, either in the Relevant Territory or elsewhere, and may appoint
 any persons to be members of such committees, regional or local boards or agencies and may
 fix their remuneration, and may delegate to any committee, regional or local board or agent
 any of the powers, authorities and discretions vested in the Board (other than its powers
 to make calls and forfeit Shares), with power to sub-delegate, and may authorise the members
 of any regional or local board or any of them to fill any vacancies therein and to act notwithstanding
 vacancies, and any such appointment or delegation may be upon such terms and subject to such
 conditions as the Board may think fit, and the Board may remove any person so appointed and
 may annul or vary any such delegation, but no person dealing in good faith and without notice
 of any such annulment or variation shall be affected thereby.

163. The
 Board may establish and maintain or procure the establishment and maintenance of any contributory
 or non-contributory pension or superannuation funds or personal pension plans for the benefit
 of, or give or procure the giving of donations, gratuities, pensions, allowances or emoluments
 to, any persons who are or were at any time in the employment or service of the Company,
 or of any company which is a subsidiary of the Company, or is allied or associated with the
 Company or with any such subsidiary company, or who are or were at any time directors or
 officers of the Company or of any such other company as aforesaid, and holding or who have
 held any salaried employment or office in the Company or such other company, and the spouses,
 widows, widowers, families and dependants of any such persons. The Board may also establish
 and subsidise or subscribe to any institutions, associations, clubs or funds calculated to
 be for the benefit of or to advance the interests and well-being of the Company or of any
 such other company as aforesaid or of any such persons as aforesaid, and may make payments
 for or towards the insurance of any such persons as aforesaid, and subscribe or guarantee
 money for charitable or benevolent objects or for any exhibition or for any public, general
 or useful object. The Board may do any of the matters aforesaid, either alone or in conjunction
 with any such other company as aforesaid. Any Director holding any such employment or office
 shall be entitled to participate in and retain for his own benefit any such donation, gratuity,
 pension, allowance or employment.

**AUTHENTICATION OF DOCUMENTS**

164. (a) Any Director or the Secretary or other authorised officer of
the Company shall have power to authenticate any documents affecting the constitution of the Company and any resolutions passed by the
Company or the Board or any committee, and any books, records, documents and accounts relating to the business of the Company, and to
certify copies thereof or extracts therefrom as true copies of extracts; and where any books, records, documents or accounts are elsewhere
than at the Registered Office or the Head Office, the local manager or such other officer of the Company having the custody thereof shall
be deemed to be the authorised officer of the Company as aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A
 document purporting to be a document so authenticated or a copy of a resolution, or an extract
 from the minutes of a meeting, of the Company or of the Board or any local board or committee,
 or of any books, records, documents or accounts or extracts therefrom as aforesaid, and which
 is certified as aforesaid, shall be conclusive evidence in favour of all persons dealing
 with the Company upon the faith thereof that the document authenticated (or, if this be authenticated
 as aforesaid, the matter so authenticated) is authentic or, as the case may be, that such
 resolution has been duly passed or, as the case may be, that any minute so extracted is a
 true and accurate record of proceedings at a duly constituted meeting or, as the case may
 be, that the copies of such books, records, documents or accounts were true copies of their
 originals or as the case may be, the extracts of such books, records, documents or accounts
 are true and accurate records of the books, records, documents or accounts from which they
 were extracted.

**CAPITALISATION OF RESERVES**

165. (a) The Company in general meeting may, upon the recommendation
of the Board, resolve to capitalise any sum standing to the credit of any of the Company's reserve accounts which are available
for distribution (including its share premium account and capital redemption reserve fund, subject to the Companies Act) and to appropriate
such sums to the holders of Shares on the Register at the close of business on the date of the relevant resolution (or such other date
as may be specified therein or determined as provided therein) in the proportions in which such sum would have been divisible amongst
them had the same been a distribution of profits by way of Dividend and to apply such sum on their behalf in paying up in full unissued
Shares for allotment and distribution credited as fully paid-up to and amongst them in the proportion aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to the Companies Act, whenever such a resolution as aforesaid shall have been passed, the
 Board shall make all appropriations and applications of the reserves or profits and undivided
 profits resolved to be capitalised thereby, and attend to all allotments and issues of fully
 paid Shares, debentures, or other securities and generally shall do all acts and things required
 to give effect thereto. For the purpose of giving effect to any resolution under this Article,
 the Board may settle any difficulty which may arise in regard to a capitalisation issue as
 it thinks fit, and in particular may disregard fractional entitlements or round the same
 up or down and may determine that cash payments shall be made to any Shareholders in lieu
 of fractional entitlements or that fractions of such value as the Board may determine may
 be disregarded in order to adjust the rights of all parties or that fractional entitlements
 shall be aggregated and sold and the benefit shall accrue to the Company rather than to the
 Shareholders concerned, and no Shareholders who are affected thereby shall be deemed to be,
 and they shall be deemed not to be, a separate class of Shareholders by reason only of the
 exercise of this power. The Board may authorise any person to enter on behalf of all Shareholders
 interested in a capitalisation issue any agreement with the Company or other(s) providing
 for such capitalisation and matters in connection therewith and any agreement made under
 such authority shall be effective and binding upon all concerned. Without limiting the generality
 of the foregoing, any such agreement may provide for the acceptance by such persons of the
 Shares, debentures or other securities to be allotted and distributed to them respectively
 in satisfaction of their claims in respect of the sum so capitalised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 provisions of paragraph (e) of Article 172 shall apply to the power of the Company to capitalise
 under this Article as it applies to the grant of election thereunder mutatis mutandis and
 no Shareholder who may be affected thereby shall be, and they shall be deemed not to be,
 a separate class of Shareholders by reason only of the exercise of this power.

**DIVIDENDS AND RESERVES**

166. Subject
 to the Companies Act and these Articles, the Company in general meeting may declare Dividends
 in any currency but no Dividends shall exceed the amount recommended by the Board.

167. (a) The Board may subject to Article 168 from time to time pay
to the Shareholders such interim Dividends as appear to the Board to be justified by the financial conditions and the profits of the
Company and, in particular but without prejudice to the generality of the foregoing, if at any time the share capital of the Company
is divided into different classes, the Board may pay such interim Dividends in respect of those Shares in the capital of the Company
which confer to the holders thereof deferred or non-preferential rights as well as in respect of those Shares which confer on the holders
thereof preferential rights with regard to Dividend and provided that the Board acts bona fide it shall not incur any responsibility
to the holders of Shares conferring any preference for any damage that they may suffer by reason of the payment of an interim Dividend
on any Shares having deferred or non-preferential rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Board may also pay half-yearly or at other suitable intervals to be settled by it any Dividend
 which may be payable at a fixed rate if the Board is of the opinion that the financial conditions
 and the profits of the Company justify the payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Board may in addition from time to time declare and pay special Dividends of such amounts
 and on such dates and out of such distributable funds of the Company as it thinks fit, and
 the provisions of paragraph (a) of this Article as regards the power and exemption from liability
 of the Board as relate to the declaration and payment of interim Dividends shall apply, mutatis
 mutandis, to the declaration and payment of any such special Dividends.

168. (a) No Dividend shall be declared or paid or shall be made otherwise
than in accordance with the Companies Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to the provisions of the Companies Act but without prejudice to paragraph (a) of this Article,
 where any asset, business or property is bought by the Company as from a past date (whether
 such date be before or after the incorporation of the Company) the profits and losses thereof
 as from such date may at the discretion of the Board in whole or in part be carried to revenue
 account and treated for all purposes as profits or losses of the Company, and be available
 for Dividend accordingly. Subject as aforesaid, if any Shares or securities are purchased
 cum Dividend or interest, such Dividend or interest may at the discretion of the Board be
 treated as revenue, and it shall not be obligatory to capitalise the same or any part thereof
 or to apply the same towards reduction of or writing down the book cost of the asset, business
 or property acquired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject
 to paragraph (d) of this Article all Dividends and other distributions in respect of Shares
 shall be stated and discharged, in the case of Shares denominated in Hong Kong dollars, in
 Hong Kong dollars, and in the case of Shares denominated in any other currency, in such other
 currency, provided that, in the case of Shares denominated in Hong Kong dollars, the Board
 may determine in the case of any distribution that Shareholders may elect to receive the
 same in any other currency selected by the Board, converted at such rate of exchange as the
 Board may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If,
 in the opinion of the Board, any Dividend or other distribution in respect of Shares or any
 other payment to be made by the Company to any Shareholder is of such a small amount as to
 make payment to that Shareholder in the relevant currency impracticable or unduly expensive
 either for the Company or the Shareholder then such Dividend or other distribution or other
 payment may, at the absolute discretion of the Board, be, if this be practicable, converted
 at such rate of exchange as the Board may determine and paid or made in the currency of the
 country of the relevant Shareholder (as indicated by the address of such Shareholder on the
 Register).

169. Notice
 of the declaration of an interim Dividend shall be given in such manner as the Board shall
 determine.

170. No
 Dividend or other moneys payable on or in respect of a Share shall bear interest as against
 the Company.

171. Whenever
 the Board or the Company in general meeting has resolved that a Dividend be paid or declared,
 the Board may further resolve that such Dividend be satisfied wholly or in part by the distribution
 of specific assets of any kind and in particular of paid up shares, debentures or warrants
 to subscribe securities of any other company, or in any one or more of such ways, with or
 without offering any rights to Shareholders to elect to receive such Dividend in cash, and
 where any difficulty arises in regard to the distribution the Board may settle the same as
 it thinks expedient, and in particular may disregard fractional entitlements or round the
 same up or down, and may fix the value for distribution of such specific assets, or any part
 thereof, and may determine that cash payments shall be made to any Shareholders upon the
 footing of the value so fixed in order to adjust the rights of all parties and may determine
 that fractional entitlements shall be aggregated and sold and the benefit shall accrue to
 the Company rather than to the Shareholders concerned, and may vest any such specific assets
 in trustees as may seem expedient to the Board and may authorise any person to sign any requisite
 instruments of transfer and other documents on behalf of all Shareholders interested in the
 Dividend and such instrument and document shall be effective. The Board may further authorise
 any person to enter into on behalf of all Shareholders having an interest in any agreement
 with the Company or other(s) providing for such Dividend and matters in connection therewith
 and any such agreement made under such authority shall be effective. The Board may resolve
 that no such assets shall be made available or made to Shareholders with registered addresses
 in any particular territory or territories being a territory or territories where, in the
 absence of a registration statement or other special formalities, this would or might, in
 the opinion of the Board, be unlawful or impracticable or the legality or practicality of
 which may be time consuming or expensive to ascertain whether in absolute terms or in relation
 to the value of the holding of Shares of the Shareholder concerned and in any such event
 the only entitlement of the Shareholders aforesaid shall be to receive cash payments as aforesaid.
 Shareholders affected as a result of exercise by the Board of its discretion under this Article
 shall not be, and shall be deemed not to be, a separate class of Shareholders for any purposes
 whatsoever.

172. (a) Whenever the Board or the Company in general meeting has resolved
that a Dividend be paid or declared on the share capital of the Company, the Board may further resolve, either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that
 such Dividend be satisfied wholly or in part in the form of an allotment of Shares credited
 as fully paid on the basis that the Shares so allotted shall be of the same class or classes
 as the class or classes already held by the allottee, provided that the Shareholders entitled
 thereto will be entitled to elect to receive such Dividend (or part thereof) in cash in lieu
 of such allotment. In such case, the following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the
 basis of any such allotment shall be determined by the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the
 Board, after determining the basis of allotment, shall give not less than 14 clear days'
 notice in writing to the Shareholders of the right of election accorded to them and shall
 send with such notice forms of election and specify the procedure to be followed and the
 place at which and the latest date and time by which duly completed forms of election must
 be lodged in order to be effective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the
 right of election may be exercised in respect of the whole or part of that portion of the
 Dividend in respect of which the right of election has been accorded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) Dividend
 (or that part of the Dividend to be satisfied by the allotment of Shares as aforesaid) shall
 not be payable in cash in respect whereof the cash election has not been duly exercised ()"**the non-elected Shares**") and in lieu and in satisfaction thereof Shares shall be allotted
 credited as fully paid to the holders of the non-elected Shares on the basis of allotment
 determined as aforesaid and for such purpose the Board shall capitalise and apply out of
 any part of the undivided profits of the Company or any part of any of the Company's
 reserve accounts (including any special account, or share premium account (if there be any
 such reserve)) as the Board may determine, a sum equal to the aggregate nominal amount of
 the Shares to be allotted on such basis and apply the same in paying up in full the appropriate
 number of Shares for allotment and distribution to and amongst the holders of the non-elected
 Shares on such basis;

or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that
 Shareholders entitled to such Dividend will be entitled to elect to receive an allotment
 of Shares credited as fully paid in lieu of the whole or such part of the Dividend as the
 Board may think fit on the basis that the Shares so allotted shall be of the same class or
 classes as the class or classes of Shares already held by the allottee. In such case, the
 following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the
 basis of any such allotment shall be determined by the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the
 Board, after determining the basis of allotment, shall give not less than 14 clear days'
 notice in writing to the Shareholders of the right of election accorded to them and shall
 send with such notice forms of election and specify the procedure to be followed and the
 place at which and the latest date and time by which duly completed forms of election must
 be lodged in order to be effective;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the
 right of election may be exercised in respect of the whole or part of that portion of the
 Dividend in respect of which the right of election has been accorded; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) the
 Dividend (or that part of the Dividend in respect of which a right of election has been accorded)
 shall not be payable on Shares in respect whereof the Share election has been duly exercised
 ()"**the elected Shares**") and in lieu thereof Shares shall be allotted credited
 as fully paid to the holders of the elected Shares on the basis of allotment determined as
 aforesaid and for such purpose the Board shall capitalise and apply out of any part of the
 undivided profits of the Company or any part of any of the Company's reserve accounts
 (including any special account, contributed surplus account, share premium account and capital
 redemption reserve fund (if there be any such reserve)) as the Board may determine, a sum
 equal to the aggregate nominal amount of the Shares to be allotted on such basis and apply
 the same in paying up in full the appropriate number of Shares for allotment and distribution
 to and amongst the holders of the elected Shares on such basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Shares allotted pursuant to the provisions of paragraph (a) of this Article shall rank pari
 passu in all respects with the Shares then in issue and held by the allottee in respect of
 which they were allotted, save only as regards participation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in
 the relevant Dividend (or the right to receive or to elect to receive an allotment of Shares
 in lieu thereof as aforesaid); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in
 any other distributions, bonuses or rights paid, made, declared or announced prior to or
 contemporaneously with the payment or declaration of the relevant Dividend unless, contemporaneously
 with the announcement by the Board of its proposal to apply the provisions of sub-paragraph
 (a)(i) or (a)(ii) of paragraph (a) of this Article in relation to the relevant Dividend or
 contemporaneously with its announcement of the distribution, bonus or rights in question,
 the Board shall have specified that the Shares to be allotted pursuant to the provisions
 of paragraph (a) of this Article shall rank for participation in such distribution, bonus
 or rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Board may do all acts and things considered necessary or expedient to give effect to any
 capitalisation pursuant to the provisions of paragraph (a) of this Article with full power
 to the Board to make such provisions as it thinks fit in the case of Shares becoming distributable
 in fractions (including provisions whereby, in whole or in part, fractional entitlements
 are aggregated and sold and the net proceeds distributed to those entitled, or are disregarded
 or rounded up or down or whereby the benefit of fractional entitlements accrues to the Company
 rather than to the Shareholders concerned), and no Shareholders who will be affected thereby
 shall be, and they shall be deemed not to be, a separate class of Shareholders by reason
 only of the exercise of this power. The Board may authorise any person to enter into on behalf
 of all Shareholders interested, an agreement with the Company providing for such capitalisation
 and matters incidental thereto and any agreement made pursuant to such authority shall be
 effective and binding on all concerned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The
 Company may upon the recommendation of the Board by Ordinary Resolution resolve in respect
 of any one particular Dividend that notwithstanding the provisions of paragraph (a) of this
 Article a Dividend may be satisfied wholly in the form of an allotment of Shares credited
 as fully paid without offering any right to Shareholders to elect to receive such Dividend
 in cash in lieu of such allotment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 Board may on any occasion determine that rights of election and the allotment of Shares under
 paragraph (a) of this Article shall not be made available or made to any Shareholders with
 registered addresses in any territory where in the absence of a registration statement or
 other special formalities the circulation of an offer of such rights of election or the allotment
 of Shares would or might be unlawful or impracticable or the legality or practicability of
 which may be time consuming or expensive to ascertain whether in absolute terms or in relation
 to the value of the holding of Shares of the Shareholder concerned, and in such event the
 provisions aforesaid shall be read and construed subject to such determination and no Shareholder
 who may be affected by any such determination shall be, and they shall be deemed not to be,
 a separate class of Shareholders for any purposes whatsoever.

173. The
 Board may, before recommending any Dividend, set aside out of the profits of the Company
 such sums as it thinks fit as a reserve or reserves which shall, at the discretion of the
 Board, be applicable for meeting claims on or liabilities of the Company or contingencies
 or for paying off any loan capital or for equalising Dividends or for any other purpose to
 which the profits of the Company may be properly applied, and pending such application may,
 at the like discretion, either be employed in the business of the Company or be invested
 in such investments (including in the repurchase by the Company of its own securities or
 the giving of any financial assistance for the acquisition of its own securities) as the
 Board may from time to time think fit, and so that it shall not be necessary to keep any
 investments constituting the reserve or reserves separate or distinct from any other investments
 of the Company. The Board may also without placing the same to reserve, carry forward any
 profits which it may think prudent not to distribute by way of Dividend.

174. Unless
 and to the extent that the rights attached to any Shares or the terms of issue thereof otherwise
 provide, all Dividends shall (as regards any Shares not fully paid throughout the period
 in respect of which the Dividend is paid) be apportioned and paid pro rata according to the
 amounts paid or credited as paid on the Shares during any portion or portions of the period
 in respect of which the Dividend is paid. For the purposes of this Article no amount paid
 on a Share in advance of calls pursuant to Article 38 shall be treated as paid on the Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175. (a) The Board may retain any Dividends or other moneys payable
on or in respect of a Share upon which the Company has a lien, and may apply the same in or towards satisfaction of the debts, liabilities
or engagements in respect of which the lien exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Board may deduct from any Dividend or other money payable to any Shareholder all sums of
 money (if any) presently payable by him to the Company on account of calls, instalments or
 otherwise.

176. Any
 general meeting sanctioning a Dividend may make a call on the Shareholders of such amount
 as the meeting fixes, but so that the call on each Shareholder shall not exceed the Dividend
 payable to him, and so that the call shall be made payable at the same time as the Dividend,
 and the Dividend may, if so arranged between the Company and the Shareholder, be set off
 against the call.

177. A
 transfer of Shares shall not, as against the Company but without prejudice to the rights
 of the transferor and transferee inter se, pass the right to any Dividend or bonus declared
 thereon before the registration of the transfer.

178. If
 two or more persons are registered as joint holders of any Share, any one of such persons
 may give effectual receipts for any Dividends and other moneys payable and bonuses, rights
 and other distributions in respect of such Shares.

179. Unless
 otherwise directed by the Board, any Dividend or other moneys payable or bonuses, rights
 or other distributions in respect of any Share may be paid or satisfied by cheque or warrant
 or certificate or other documents or evidence of title sent through the post to the registered
 address of the Shareholder entitled, or, in the case of joint holders, to the registered
 address of that one whose name stands first in the Register in respect of the joint holding
 or to such person and to such address as the holder or joint holders may in writing direct.
 Every cheque, warrant, certificate or other document or evidence of title so sent shall be
 made payable to the order of the person to whom it is sent or, in the case of certificates
 or other documents or evidence of title as aforesaid, in favour of the Shareholder(s) entitled
 thereto, and the payment on any such cheque or warrant by the banker upon whom it is drawn
 shall operate as a good discharge to the Company in respect of the Dividend and/or other
 moneys represented thereby, notwithstanding that it may subsequently appear that the same
 has been stolen or that any endorsement thereon has been forged. Every such cheque, warrant,
 certificate or other document or evidence of title as aforesaid shall be sent at the risk
 of the person entitled to the Dividend, money, bonus, rights and other distributions represented
 thereby.

180. All
 Dividends, bonuses or other distributions or the proceeds of the realisation of any of the
 foregoing unclaimed for one year after having been declared by the Company until claimed
 and, notwithstanding any entry in any books of the Company may be invested or otherwise made
 use of by the Board for the benefit of the Company or otherwise howsoever, and the Company
 shall not be constituted a trustee in respect thereof. All Dividends, bonuses or other distributions
 or the proceeds of the realisation of any of the foregoing unclaimed for six years after
 having been declared may be forfeited by the Board and, upon such forfeiture, shall revert
 to the Company and, in the case where any of the same are securities of the Company, may
 be re-allotted or re-issued for such consideration as the Board thinks fit and the proceeds
 thereof shall accrue to the benefit of the Company absolutely.

**RECORD DATE**

181. Subject
 to the Listing Rules, any resolution declaring a Dividend or other distribution on Shares
 of any class, whether a resolution of the Company in general meeting or a resolution of the
 Board, may specify that the same shall be payable or made to the persons registered as the
 holder of such Shares at the close of business on a particular date or at a particular time
 on a particular date, and thereupon the Dividend or other distribution shall be payable or
 made to them in accordance with their respective holdings so registered, but without prejudice
 to the rights inter se in respect of such Dividend or other distribution between the transferors
 and transferees of any such Shares. The provisions of this Article shall mutatis mutandis
 apply to determining the Shareholders entitled to receive notice and vote at any general
 meeting of the Company, bonuses, capitalisation issues, distributions of realised and unrealised
 capital profits or other distributable reserves or accounts of the Company and offers or
 grants made by the Company to the Shareholders.

182. The
 Company in general meeting may at any time and from time to time resolve that any surplus
 moneys in the hands of the Company representing capital profits arising from moneys received
 or recovered in respect of or arising from the realisation of any capital assets of the Company
 or any investments representing the same and not required for the payment or provision of
 any fixed preferential Dividend instead of being applied in the purchase of any other capital
 assets or for other capital purposes be distributed amongst its Shareholders on the footing
 that they receive the same as capital and in the Shares and proportions in which they would
 have been entitled to receive the same if it had been distributed by way of Dividend, provided
 that no such surplus moneys as aforesaid shall be so distributed unless the Company will
 remain solvent after the distribution, or the net realisable value of the assets of the Company
 will after the distribution be greater than the aggregate of its liabilities, share capital
 and share premium account.

**ANNUAL RETURNS**

183. The
 Board shall make or cause to be made such annual or other returns or filings as may be required
 to be made in accordance with the Companies Act.

**ACCOUNTS**

184. The
 Board shall cause proper books of account to be kept of the sums of money received and expended
 by the Company, and the matters in respect of which such receipts and expenditure take place;
 and of the assets and liabilities of the Company and of all other matters required by the
 Companies Act necessary to give a true and fair view of the state of the Company's
 affairs and to show and explain its transactions. The financial year of the Company shall
 end on 31 December of each year or such other date as the Directors may determine, subject
 to these Articles.

185. The
 books of account shall be kept at the Head Office or at such other place or places as the
 Board thinks fit and shall always be open to the inspection of the Directors.

186. No
 Shareholder (not being a Director) or other person shall have any right of inspecting any
 account or book or document of the Company except as conferred by the Companies Act or ordered
 by a court of competent jurisdiction or authorised by the Board or the Company in general
 meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187. (a) The Board shall from time to time cause to be prepared and
laid before the Company at its annual general meeting profit and loss accounts and balance sheets of the Company and such other reports
and documents as may be required by law and the Listing Rules. The accounts of the Company shall be prepared and audited based on the
generally accepted accounting principles of Hong Kong, the International Accounting Standards, or such other standards as may be permitted
by the HK Stock Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject
 to paragraph (c) below, every balance sheet of the Company shall be signed on behalf of the
 Board by two of the Directors and a copy of every balance sheet (including every document
 required by law to be comprised therein or annexed thereto) and profit and loss account which
 is to be laid before the Company at its annual general meeting, together with a copy of the
 Directors' report and a copy of the Auditors' report thereon, shall, not less
 than 21 days before the date of the meeting be delivered or sent in accordance with Article
 192(b) together with the notice of annual general meeting to every Shareholder and every
 Debenture Holder of the Company and every other person entitled to receive notices of general
 meetings of the Company under the provisions of these Articles, provided that this Article
 shall not require a copy of those documents to be sent to any person of whose address the
 Company is not aware or to more than one of the joint holders of any Shares or Debentures,
 but any Shareholder or Debenture Holder to whom a copy of those documents has not been sent
 shall be entitled to receive a copy free of charge on application at the Head Office or the
 Registration Office. If all or any of the Shares or Debentures or other securities of the
 Company shall for the time being be (with the consent of the Company) listed or dealt in
 on any stock exchange or market, there shall be forwarded to such stock exchange or market
 such number of copies of such documents as may for the time being be required under its regulations
 or practice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject
 to the Listing Rules, the Company may send summarised financial statements to Shareholders
 who has, in accordance with the Listing Rules, consented and elected to receive summarised
 financial statements instead of the full financial statements. The summarised financial statements
 must be accompanied by any other documents as may be required under the Listing Rules and
 must be sent to the Shareholders not less than twenty-one days before the general meeting
 to those Shareholders that have consented and elected to receive the summarised financial
 statements.

**AUDITORS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188. (a) The Company shall at each annual general meeting appoint one
or more firms of auditors to hold office until the conclusion of the next annual general meeting on such terms and with such duties as
may be agreed with the Board, but if an appointment is not made, the Auditors in office shall continue in office until a successor is
appointed. A Director, officer or employee of any such Director, officer or employee shall not be appointed Auditors of the Company.
The Company in general meeting or a body that is independent of the Board may fill any casual vacancy in the office of Auditors, but
while any such vacancy continues the surviving or continuing Auditors (if any) may act. The appointment, removal and remuneration of
the Auditors must be approved by a majority of the Company's Shareholders in a general meeting or by another body that is independent
of the Board, and the remuneration of any Auditors appointed to fill any casual vacancy may be fixed by the Company in general meeting
or by a body that is independent of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Shareholders may, at any general meeting convened and held in accordance with these Articles,
 remove the Auditors by Ordinary Resolution at any time before the expiration of the term
 of office and shall, by Ordinary Resolution, at that meeting appoint new auditors in its
 place for the remainder of the term. A body that is independent of the Board may also remove
 the Auditor by a simple majority vote before the expiration of the term of office and shall
 by a simple majority vote appoint new Auditor in its place for the remainder of the term.

189. The
 Auditors of the Company shall have a right of access at all times to the books and accounts
 and vouchers of the Company and shall be entitled to require from the Directors and officers
 of the Company such information as may be necessary for the performance of his or their duties,
 and the Auditors shall audit every balance sheet and profit and loss account of the Company
 in each year and prepare an Auditors' report thereon to be annexed thereto. Such report
 shall be laid before the Company in the annual general meeting.

190. No
 person other than the retiring Auditors shall be appointed as Auditors at an annual general
 meeting unless notice of an intention to nominate that person to the office of Auditors has
 been given to the Company not less than 14 clear days before the annual general meeting,
 and the Company shall send a copy of any such notice to the retiring Auditors and shall give
 notice thereof to the Shareholders not less than seven days before the annual general meeting
 provided that the above requirement for sending a copy of such notice to the retiring Auditors
 may be waived by notice in writing by the retiring Auditors to the Secretary.

191. All
 acts done by any person acting as Auditors shall, as regards all persons dealing in good
 faith with the Company, be valid, notwithstanding that there was some defect in their appointment
 or that they were at the time of their appointment not qualified for appointment or subsequently
 became disqualified.

**NOTICES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192. (a) Except where otherwise expressly stated, any notice or document
to be given to or by any person pursuant to these Articles shall be in writing or, to the extent permitted by the Companies Act and the
Listing Rules from time to time and subject to this Article, contained in an electronic communication. A notice calling a meeting of
the Board need not be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except
 where otherwise expressly stated, any notice or document to be given to or by any person
 pursuant to these Articles (including any corporate communications within the meaning ascribed
 thereto under the Listing Rules) may be served on or delivered to any Shareholder either
 personally or by sending it through the post in a prepaid envelope or wrapper addressed to
 such Shareholder at his registered address as appearing in the Register or by leaving it
 at that address addressed to the Shareholder or by any other means authorised in writing
 by the Shareholder concerned or (other than share certificate) by publishing it by way of
 advertisement in the Newspapers. In case of joint holders of a share, all notices shall be
 given to that one of the joint holders whose name stands first in the Register and notice
 so given shall be sufficient notice to all the joint holders. Without limiting the generality
 of the foregoing but subject to applicable laws (including the Companies Act and the Listing
 Rules), a notice or document may be served or delivered by the Company to any Shareholder
 by electronic means to such address as may from time to time be authorised by the Shareholder
 concerned or by publishing it on both the Company's and the Stock Exchange's
 websites and notifying the Shareholder concerned that it has been so published.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any
 such notice or document may be served or delivered by the Company by reference to the Register
 as it stands at any time not more than fifteen days before the date of service or delivery.
 No change in the Register after that time shall invalidate that service or delivery. Where
 any notice or document is served or delivered to any person in respect of a share in accordance
 with these Articles, no person deriving any title or interest in that share shall be entitled
 to any further service or delivery of that notice or document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any
 notice or document required to be sent to or served upon the Company, or upon any officer
 of the Company, may be sent or served by leaving the same or sending it through the post
 in a prepaid envelope or wrapper addressed to the Company or to such officer at the Head
 Office or Registered Office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 Board may from time to time specify the form and manner in which a notice may be given to
 the Company by electronic means, including one or more addresses for the receipt of an electronic
 communication, and may prescribe such procedures as they think fit for verifying the authenticity
 or integrity of any such electronic communication. Any notice may be given to the Company
 by electronic means only if it is given in accordance with the requirements specified by
 the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193. (a) Any Shareholder whose registered address is outside the Relevant
Territory may notify the Company in writing of (i) an address in the Relevant Territory which for the purpose of service of notice shall
be deemed to be their registered address or (ii) an electronic address for the purpose of service of notice. Where the registered address
of the Shareholder is outside the Relevant Territory, notice, (i) if given through the post to the registered address which is outside
the Relevant Territory, shall be sent by prepaid airmail letter where available, or (ii) if served by electronic means, shall be sent
in accordance with Article 198(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 Shareholder who fails (and, where a Share is held by joint holders, where the first joint
 holder named on the Register fails) to supply their registered address or a correct registered
 address or, in the case of electronic communications, fails to supply their electronic address
 or a correct and functional electronic address, to the Company for service of notices and
 documents on such Shareholder shall not (and where a Share is held by joint holders, none
 of the other joint holders whether or not they have supplied a registered address shall)
 be entitled to service of any notice or documents by the Company and any notice or document
 which is otherwise required to be served on such Shareholder may, if the Board in its absolute
 discretion so elects (and subject to them re-electing otherwise from time to time), be served,
 in the case of notices, by displaying a copy of such notice conspicuously at the Registered
 Office and the Head Office or, if the Board sees fit, by advertisement in the Newspapers,
 and, in the case of documents, by posting up a notice conspicuously at the Registered Office
 and the Head Office addressed to such Shareholder which notice shall state the address within
 the Relevant Territory at which such Shareholder may obtain a copy of the relevant document,
 or by displaying or otherwise making available the relevant notice or document on the Company's
 website and stating the address within the Relevant Territory at which such Shareholder may
 obtain a copy of the notice or the document. Any notice or document served in the manner
 so described shall be sufficient service as regards Shareholders with no registered or incorrect
 addresses, or in the case of electronic communications, no or an incorrect or a non-functional
 electronic address, provided that nothing in this paragraph (b) shall be construed as requiring
 the Company to serve any notice or document on any Shareholder with no or an incorrect registered
 address for the service of notice or document on such Shareholder or on any Shareholder other
 than the first named on the Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 on three consecutive occasions notices or other documents have been sent through the post
 to any Shareholder (or, in the case of joint holders of a share, the first holder named on
 the Register) at the registered address of such Shareholder or by electronic means to the
 electronic address of such Shareholder but have been returned undelivered, such Shareholder
 (and, in the case of joint holders of a Share, all other joint holders of the share) shall
 not thereafter be entitled to receive or be served (save as the Board may elect otherwise
 pursuant to paragraph (b) of this Article) and shall be deemed to have waived the service
 of notices and other documents from the Company until such Shareholder shall have communicated
 with the Company and supplied in writing a new registered address or a new electronic address
 for the service of notices on such Shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding
 any election by a Shareholder from time to time to receive any notice or document through
 electronic means, such Shareholder may, at any time, require the Company to send to such
 Shareholder, in addition to an electronic copy thereof, a printed copy of any notice or document
 which such Shareholder is entitled to receive in such person's capacity as a Shareholder.

194. Any
 notice or other document, if sent by mail, postage prepaid, shall be deemed to have been
 served or delivered on the day following that on which the letter, envelope, or wrapper containing
 the same is put into the post. In proving such service it shall be sufficient to prove that
 the letter, envelope or wrapper containing the notice or document was properly addressed
 and put into the post as prepaid mail. Any notice or document not sent by post but left by
 the Company at a registered address shall be deemed to have been served or delivered on the
 day it was so left. Any notice or document, if sent by electronic means (including through
 any relevant system), shall be deemed to have been given on the day following that on which
 the electronic communication was sent by or on behalf of the Company. Any notice or document
 served or delivered by the Company by any other means authorised in writing by the Shareholder
 concerned shall be deemed to have been served when the Company has carried out the action
 it has been authorised to take for that purpose. Any notice or other document published by
 way of advertisement (to the extent permitted by applicable laws) shall be deemed to have
 been served or delivered on the day it was so published. Any notice or other document published
 on a website or websites (other than pursuant to Article 193(b)) shall be deemed to have
 been served or delivered on the date that the Shareholder concerned is notified that it has
 been so published.

195. A
 notice or document may be given by the Company to the person entitled to a Share in consequence
 of the death, mental disorder, bankruptcy or liquidation of a Shareholder by sending it via
 electronic means or through the post in a prepaid envelope or wrapper addressed to him by
 name, or by the title of representative of the deceased, the trustee of the bankrupt or the
 liquidator of the Shareholder, or by any like description, at the electronic or postal address,
 if any, supplied for the purpose by the person claiming to be so entitled, or (until such
 electronic or postal address has been so supplied) by giving the notice or document in any
 manner in which the same might have been given if the death, mental disorder, bankruptcy
 or winding up had not occurred.

196. Any
 person who by operation of law, transfer or other means whatsoever shall become entitled
 to any Share shall be bound by every notice in respect of such share which prior to his name
 and address being entered on the Register shall have been duly served to the person from
 whom he derives his title to such share.

197. Any
 notice or document delivered or sent by post or by electronic communications to any Shareholder,
 or published on both the Company's website and the website of the HK Stock Exchange
 where a notice of such publication has been sent by post or by electronic communications
 to any Shareholder, or left at the registered address of any Shareholder in pursuance of
 these Articles, shall notwithstanding that such Shareholder be then deceased, bankrupt or
 wound up and whether or not the Company has notice of his death, bankruptcy or winding up,
 be deemed to have duly served in respect of any registered Shares whether held solely or
 jointly with other persons by such Shareholder until some other person be registered in his
 stead as the holder or joint holder thereof, and such service shall for all purposes of these
 Articles be deemed a sufficient service of such notice or document on his personal representatives
 and all persons (if any) jointly interested with him in any such Shares.

198. The
 signature to any notice or document to be given by the Company may be written or printed.

**INFORMATION**

199. No
 Shareholder (not being a Director) shall be entitled to require discovery of or any information
 respecting any detail of the Company's trading or any matter which is or may be in
 the nature of a trade secret, mystery of trade or secret process which may relate to the
 conduct of the business of the Company which in the opinion of the Board will be inexpedient
 in the interests of the Shareholders of the Company to communicate to the public.

**WINDING UP**

200. Subject
 to the Companies Act, a resolution that the Company be wound up by the Court or be wound
 up voluntarily which shall be passed by way of a Special Resolution.

201. If
 the Company shall be wound up, the surplus assets remaining after payment to all creditors
 shall be divided among the Shareholders in proportion to the capital paid up on the Shares
 held by them respectively, and if such surplus assets shall be insufficient to repay the
 whole of the paid up capital, they shall be distributed, subject to the rights of any Shares
 which may be issued on special terms and conditions, so that, as nearly as may be, the losses
 shall be borne by the Shareholders in proportion to the capital paid on the Shares held by
 them respectively.

202. If
 the Company shall be wound up (in whatever manner) the liquidator may, with the sanction
 of a Special Resolution and any other sanction required by the Companies Act, divide among
 the Shareholders in specie or kind the whole or any part of the assets of the Company whether
 the assets shall consist of property of one kind or shall consist of properties of different
 kinds and the liquidator may, for such purpose, set such value as he deems fair upon any
 one or more class or classes of property to be divided as aforesaid and may determine how
 such division shall be carried out as between the Shareholders or different classes of Shareholders
 and the Shareholders within each class. The liquidator may, with the like sanction, vest
 any part of the assets in trustees upon such trusts for the benefit of Shareholders as the
 liquidator, with the like sanction, shall think fit, but so that no Shareholder shall be
 compelled to accept any Shares or other assets upon which there is a liability.

**INDEMNITY**

203. The
 Directors, managing directors, alternate Directors, Auditors, Secretary and other officers
 for the time being of the Company and the trustees (if any) for the time being acting in
 relation to any of the affairs of the Company, and their respective executors or administrators,
 shall be indemnified and secured harmless out of the assets of the Company from and against
 all actions, costs, charges, losses, damages and expenses which they or any of them, their
 or any of their executors or administrators, shall or may incur or sustain by reason of any
 act done, concurred in or omitted in or about the execution of their duty or supposed duty
 in their respective offices or trusts, except such (if any) as they shall incur or sustain
 through their own fraud or dishonesty, and none of them shall be answerable for the acts,
 receipts, neglects or defaults of any other of them, or for joining in any receipt for the
 sake of conformity, or for any bankers or other persons with whom any moneys or effects of
 the Company shall be lodged or deposited for safe custody, or for the insufficiency or deficiency
 of any security upon which any moneys of the Company shall be placed out or invested, or
 for any other loss, misfortune or damage which may arise in the execution of their respective
 offices or trusts, or in relation thereto, except as the same shall happen by or through
 their own fraud, dishonest, or recklessness. The Company may take out and pay the premium
 and other moneys for the maintenance of insurance, bonds and other instruments for the benefit
 either of the Company or the Directors (and/or other officers) or any of them to indemnify
 the Company and/or Directors (and/or other officers) named therein for this purpose against
 any loss, damage, liability and claim which they may suffer or sustain in connection with
 any breach by the Directors (and/or other officers) or any of them of their duties to the
 Company.

**UNTRACEABLE SHAREHOLDERS**

204. The
 Company may exercise the power to cease sending cheques for Dividend entitlements or Dividend
 warrants by post if such cheques or warrants remain uncashed on two consecutive occasions
 or after the first occasion on which such a cheque or warrant is returned undelivered.

205. (a) The Company shall have the power to sell, in such manner as
the Board thinks fit, any Shares of a Shareholder who is untraceable, but no such sale shall be made unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) during
the period of 12 years prior to the date of the advertisements referred to in sub-paragraph (ii) below (or, if published more than once,
the first thereof) at least three Dividends or other distributions in respect of the Shares in question have become payable or been made
and no Dividend or other distribution in respect of the Shares during that period has been claimed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 Company has caused an advertisement to be inserted in the Newspapers of its intention to
 sell such Shares and a period of three months has elapsed since the date of such advertisement
 (or, if published more than once, the first thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 Company has not at any time during the said periods of 12 years and three months received
 any indication of the existence of the holder of such Shares or of a person entitled to such
 Shares by death, bankruptcy or operation of law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the
 Company has notified the HK Stock Exchange of its intention of such sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To
 give effect to any such sale the Board may authorise any person to transfer the said Shares
 and the instrument of transfer signed or otherwise executed by or on behalf of such person
 shall be as effective as if it had been executed by the registered holder or the person entitled
 by transmission to such Shares, and the purchaser shall not be bound to see to the application
 of the purchase money nor shall his title to the Shares be affected by any irregularity or
 invalidity in the proceedings relating to the sale. The net proceeds of the sale will belong
 to the Company and upon receipt by the Company of such proceeds it shall become indebted
 to the former Shareholder for an amount equal to such net proceeds. Notwithstanding any entries
 made by the Company in any of its books or otherwise howsoever, no trusts shall be created
 in respect of such debt and no interest shall be payable in respect of it and the Company
 shall not be required to account for any money earned from the net proceeds which may be
 employed in the business of the Company or as it thinks fit. Any sale under this Article
 shall be valid and effective notwithstanding that the Shareholder holding the Shares sold
 is dead, bankrupt, wound up or otherwise under any legal disability or incapacity.

**DESTRUCTION OF DOCUMENTS**

206. The
 Company may destroy:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 share certificate which has been cancelled at any time after the expiry of one year from
 the date of such cancellation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 dividend mandate or any variation or cancellation thereof or any notification of change of
 name or address at any time after the expiry of two years from the date on which such mandate,
 variation, cancellation or notification was recorded by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 instrument of transfer of Shares which has been registered at any time after the expiry of
 six years from the date of registration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any
 other document, on the basis of which any entry in the Register is made, at any time after
 the expiry of six years from the date on which an entry in the Register was first made in
 respect of it;

and it shall conclusively be presumed in favour of the Company that every Share certificate so destroyed was a valid certificate duly and properly cancelled and that every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered and that every other document destroyed hereunder was a valid and effective document in accordance with the recorded particulars thereof in the books or records of the Company provided always that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 foregoing provisions of this Article shall apply only to the destruction of a document in
 good faith and without express notice to the Company that the preservation of such document
 was relevant to a claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) nothing
 contained in this Article shall be construed as imposing upon the Company any liability in
 respect of the destruction of any such document earlier than as aforesaid or in any case
 where the conditions of proviso (i) above are not fulfilled; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) references
 in this Article to the destruction of any document include reference to its disposal in any
 manner.

**SUBSCRIPTION RIGHT RESERVE**

207. The
 following provisions shall have effect to the extent that they are not prohibited by and
 are in compliance with the Companies Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If,
 so long as any of the rights attaching to any warrants issued by the Company to subscribe
 for Shares shall remain exercisable, the Company does any act or engages in any transaction
 which, as a result of any adjustments to the subscription price in accordance with the provisions
 applicable under the terms and conditions of the warrants, would reduce the subscription
 price to below the par value of a Share, then the following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) as
 from the date of such act or transaction the Company shall establish and thereafter (subject
 as provided in this Article) maintain in accordance with the provisions of this Article a
 reserve (the "**Subscription Right Reserve**") the amount of which shall at
 no time be less than the sum which for the time being would be required to be capitalised
 and applied in paying up in full the nominal amount of the additional Shares required to
 be issued and allotted credited as fully paid pursuant to sub-paragraph (iii) below on the
 exercise in full of all the subscription rights outstanding and shall apply the Subscription
 Right Reserve in paying up in full the amount of the shortfall referred to in sub-paragraph
 (iii) in respect of such additional Shares as and when the same are allotted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 Subscription Right Reserve shall not be used for any purpose other than that specified above
 unless all other reserves of the Company (other than the share premium account) have been
 extinguished and will then only be used to make good losses of the Company if and so far
 as is required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) upon
 the exercise of all or any of the subscription rights represented by any warrant, the relevant
 subscription rights shall be exercisable in respect of a nominal amount of Shares equal to
 the amount in cash which the holder of such warrant is required to pay on exercise of the
 subscription rights represented thereby (or, as the case may be, the relevant portion thereof
 in the event of a partial exercise of the subscription rights) and, in addition, there shall
 be allotted in respect of such subscription rights to the exercising warrant holder, credited
 as fully paid, such additional nominal amount of Shares as is equal to the shortfall between:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the
 said amount in cash which the holder of such warrant is required to pay on exercise of the
 subscription rights represented thereby (or, as the case may be, the relevant portion thereof
 in the event of a partial exercise of the subscription rights); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the
 nominal amount of Shares in respect of which such subscription rights would have been exercisable
 having regard to the provisions of the conditions of the warrants, had it been possible for
 such subscription rights to represent the right to subscribe for Shares at less than par
 and immediately upon such exercise so much of the sum standing to the credit of the Subscription
 Right Reserve as is required to pay up in full such additional nominal amount of Shares shall
 be capitalised and applied in paying up in full such additional nominal amount of Shares
 which shall forthwith be allotted credited as fully paid to the exercising warrant holder;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if
 upon the exercise of the subscription rights represented by any warrant the amount standing
 to the credit of the Subscription Right Reserve is not sufficient to pay up in full such
 additional nominal amount of Shares equal to such shortfall as aforesaid to which the exercising
 warrant holder is entitled, the Board shall apply any profits or reserves then or thereafter
 becoming available (including, to the extent permitted or not prohibited by law, the share
 premium account) for such purpose until such additional nominal amount of Shares is paid
 up and allotted as aforesaid and until then no Dividend or other distribution shall be paid
 or made on the fully paid Shares then in issue. Pending such payment up and allotment, the
 exercising warrant holder shall be issued by the Company with a certificate evidencing his
 right to the allotment of such additional nominal amount of Shares. The rights represented
 by any such certificate shall be in registered form and shall be transferable in whole or
 in part in units of one Share in the like manner as the Shares for the time being are transferable,
 and the Company shall make such arrangements in relation to the maintenance of a register
 therefor and other matters in relation thereto as the Board may think fit and adequate particulars
 thereof shall be made known to each relevant exercising warrant holder upon the issue of
 such certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Shares
 allotted pursuant to the provisions of this Article shall rank pari passu in all respects
 with the other Shares allotted or which ought to be allotted on the relevant exercise of
 the subscription rights represented by the warrant concerned. Notwithstanding anything contained
 in paragraph (a) of this Article, no fraction of any Share shall be allotted on exercise
 of the subscription rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 provisions of this Article as to the establishment and maintenance of the Subscription Right
 Reserve shall not be altered or added to in any way which would vary or abrogate, or which
 would have the effect of varying or abrogating, the provisions for the benefit of any warrant
 holder or class of warrant holders under this Article without the sanction of a Special Resolution
 of such warrant holder(s) or class of warrant holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A
 certificate or report by the Auditors as to whether or not the Subscription Right Reserve
 is required to be established and maintained and if so the amount thereof so required to
 be established and maintained, as to the purpose for which the Subscription Right Reserve
 has been used, as to the extent to which it has been used to make good losses of the Company,
 as to the additional nominal amount of Shares required to be allotted to exercising warrant
 holders credited as fully paid, and as to any other matter concerning the Subscription Right
 Reserve shall (in the absence of manifest error) be conclusive and binding upon the Company
 and all warrant holders and Shareholders.

**STOCK**

208. The
 following provisions shall have effect at any time and from time to time provided that they
 are not prohibited by or inconsistent with the Companies Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company may by Ordinary Resolution convert any fully paid Shares into stock, and may from
 time to time by like resolution reconvert any stock into fully paid Shares of any denomination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 holders of stock may transfer the same or any part thereof in the same manner, and subject
 to the same regulations as and subject to which the Shares from which the stock arose might
 prior to conversion have been transferred or as near thereto as circumstances admit, but
 the Board may from time to time, if it thinks fit, fix the minimum amount of stock transferable
 and restrict or prohibit the transfer of fractions of that minimum, but so that such minimum
 shall not exceed the nominal amount of the Shares from which the stock arose. No warrants
 to bearer shall be issued in respect of any stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 holders of stock shall, according to the amount of the stock held by them, have the same
 rights, privileges and advantages as regards Dividends, participation in assets on a winding
 up, voting at meetings, and other matters, as if they held the Shares from which the stock
 arose, but no such rights, privileges or advantages (except participation in the Dividends
 and profits and in the assets on winding up of the Company) shall be conferred by an amount
 of stock which would not, if existing in Shares, have conferred such rights, privileges or
 advantages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Such
 of the provisions of these Articles as are applicable to fully paid Shares shall apply to
 stock, and the words "Share" and "Shareholder" herein shall include
 "stock" and "stockholder" and "member".

## Exhibit 99.3

**Exhibit 99.3**

![](ea029178201_ex99-3img1.jpg)

**Ascentage Pharma Releases Latest Clinical Data from Multiple<br> Trials at ASCO 2026**

**ROCKVILLE, MD and SUZHOU, China, May 21, 2026** — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer, today announced that six abstracts from its clinical studies, selected for presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, are now available on ASCO's official website. Three of the six studies have been selected for rapid oral presentations, and three as poster presentations. These abstracts report data from ongoing studies evaluating the company's three lead drug candidates, including BCR-ABL inhibitor olverembatinib(HQP1351); Bcl-2 inhibitor lisaftoclax (APG-2575); and MDM2-p53 inhibitor alrizomadlin (APG-115).

This year's ASCO Annual Meeting will take place in person at McCormick Place in Chicago, IL, and online, May 29 – June 2, 2026. The ASCO Annual Meeting showcases cutting-edge research in clinical oncology and advanced cancer therapies and is the world's largest gathering in the clinical oncology community.

The key clinical results from Ascentage Pharma's abstracts selected for the 2026 ASCO Annual Meeting are as follows:

**<u>Rapid Oral Presentations</u>**

**Olverembatinib (HQP1351) combined with blinatumomab in patients with lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Philadelphia chromosome-positive B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL)**

**Abstract #:** 6513

**Session Title:** Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** May 30, 2026, 1:51 - 1:57 p.m., Central Time (May 31, 2026, 2:51 - 2:57 a.m., Beijing Time)

**First Author:** Elias Jabbour, MD, Department of Leukemia, The University of Texas MD Anderson Cancer Center, Houston, TX

**Highlights:**

● This multicenter, open-label phase Ib study evaluated the combination of olverembatinib and blinatumomab in patients with relapsed/refractory (R/R) Ph+ BCP-ALL or CML-LBP.

● Among five patients with measurable residual disease (MRD) positivity and no complete response (CR) at study entry, four achieved CR, and two achieved MRD negativity, with an overall manageable safety profile.

● This study provides initial clinical evidence supporting the feasibility of combining olverembatinib with immunotherapy in patients with CML-LBP and R/R Ph+ BCP-ALL in an international patient population.

**Updated efficacy and safety of olverembatinib (HQP1351) as second-line therapy in patients with chronic-phase chronic myeloid leukemia (CP-CML)**

**Abstract #:** 6510

**Session Title:** Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** May 30, 2026, 1:21 – 1:27 p.m., Central Time (May 31, 2026, 2:21 – 2:27 a.m., Beijing Time)

**First Author:** Weiming Li, MD, Department of Hematology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan, China

**Highlights:**

● This is a single-arm, multicenter, open-label study conducted in China, evaluating the efficacy and safety of olverembatinib as a second-line therapy in patients with CP-CML.

● Among 42 evaluable patients, at cycle 24, the complete cytogenetic response (CCyR) rate reached 91.3%, and the major molecular response (MMR) rate reached 60.9%. Among 32 patients who failed first-line second-generation TKIs, 81.3% achieved CCyR and 50% achieved MMR, with a favorable safety profile.

● Olverembatinib shows good tolerability and leads to high MMR and CCyR in patients with CP- CML without T315I mutation that is resistant/intolerant to first-line TKls.

**Alrizomadlin (APG-115) alone or in combination with lisaftoclax (APG-2575) for the treatment of pediatric patients with relapsed/metastatic rhabdomyosarcoma (RMS) or other soft-tissue sarcomas (STSs)**

**Abstract #:** 10012

**Session Title:** Pediatric Oncology II

**Date and Time:** May 30, 2026, 8:00 - 8:06a.m., Central Time (May 30, 2026, 9:00 -9:06 p.m., Beijing Time)

**First Author:** Yizhuo Zhang, MD, Department of Pediatric Oncology, Sun Yat-sen University Cancer Center, State Key Laboratory of Oncology in South China, Collaborative Innovation Center for Cancer Medicine, Guangzhou, China

**Highlights:**

● This is a multicenter clinical trial conducted in China, evaluating the safety and preliminary efficacy of alrizomadlin (APG-115) as monotherapy or in combination with lisaftoclax (APG-2575) in heavily pretreated pediatric patients with neuroblastoma (NB), as well as relapsed/metastatic rhabdomyosarcoma (RMS), Ewing sarcoma (EWS), and other soft-tissue sarcomas (STSs).

● Results showed that no dose-limiting toxicities (DLT) were observed in either monotherapy or combination groups. Adverse events were mainly gastrointestinal and hematologic, with few serious adverse events, and no treatment-related deaths or discontinuations. In terms of clinical benefit, one patient with refractory RMS in the monotherapy group achieved CR; in the combination group, the objective response rate (ORR) was 30% and the disease control rate (DCR) was 80%.

● This regimen demonstrated a manageable safety profile and preliminary antitumor activity in pediatric solid tumors, warranting further investigation.

**<u>Poster Presentations</u>**

**Updated clinical and translational results of olverembatinib (HQP1351) in patients with succinate dehydrogenase (SDH)-deficient tumors**

**Abstract #:** 11539

**Session Title:** Sarcoma

**Date and Time:** June 1, 2026, 1:30 - 4:30 p.m., Central Time (June 2, 2026, 2:30 - 5:30 a.m., Beijing Time)

**First Author:** Haibo Qiu, MD, PhD, Sun Yat-sen University Cancer Center; State Key Laboratory of Oncology in South China Collaborative Innovation Center for Cancer Medicine, Sun Yat-sen University Cancer Center, Guangzhou, China

**Highlights:**

● This study in SDH-deficient tumors evaluated the efficacy of olverembatinib in patients with SDH-deficient gastrointestinal stromal tumors (GIST) and paraganglioma.

● Among 26 patients with SDH-deficient GIST, 6（23.1%）pts experienced PR as best response, with a median progression-free survival (PFS) of 25.7 months; among 6 patients with SDH-deficient paraganglioma, best responses were observed in 4 patients, with SD lasting≥4 cycles(CBR, 66.7%) and a median PFS of 8.25 months.

● This study, for the first time, revealed that olverembatinib inhibits fatty acid-promoted tumor cell migration by targeting the p38-CD36 pathway, providing a further insight on the mechanism of action of olverembatinib in SDH-deficient tumors.

**A phase 3 study of olverembatinib (HQP1351) in patients with chronic-phase chronic myeloid leukemia: POLARIS-2 trial in progress**

**Abstract #:** TPS6608

**Session Title:** Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** June 1, 2026, 9:00 a.m. - 12:00 p.m., Central Time (June 1, 2026, 10:00 p.m. -Tuesday June 2, 2026, 1:00 a.m., Beijing Time)

**First Author:** Elias Jabbour, MD, Department of Leukemia, The University of Texas MD Anderson Cancer Center, Houston, TX

**Highlights:**

● This FDA and EMA-cleared, global Phase III registrational clinical trial (POLARIS-2) is evaluating olverembatinib in patients with chronic-phase CML

● The study includes two independent cohorts. In Part A, patients with chronic-phase CML who have received at least two prior TKIs are randomized in a 2:1 ratio to receive olverembatinib or bosutinib; Part B is a single-arm study evaluating olverembatinib in patients harboring the T315I mutation. The primary endpoint for both parts is the MMR rate at or by 24 weeks.

**A global multicenter, open-label, randomized, phase 3 registrational study of lisaftoclax (APG-2575) in previously treated chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL): GLORA trial in progress**

**Abstract #:** TPS7101

**Session Title:** Hematologic Malignancies—Lymphoma and Chronic Lymphocytic Leukemia

**Date and Time:** June 1, 2026, 9:00 a.m. - 12:00 p.m., Central Time (June 1, 2026, 10:00 p.m. -Tuesday June 2, 2026, 1:00 a.m., Beijing Time)

**First Author:** Matthew Steven Davids, MD, Dana-Farber Cancer Institute

**Highlights:**

● GLORA is a global, multicenter, open-label phase 3 registrational study.

● The aim of the study is to evaluate the efficacy and safety of lisaftoclax in combination with a BTK inhibitor in patients with CLL/SLL. Eligible patients have CLL/SLL and, after 12 months of BTKi monotherapy, have achieved neither complete response (CR) nor progressive disease (PD). The study plans to enroll approximately 440 patients across 126 centers in 18 countries and is currently enrolling.

*\** *Olverembatinib, lisaftoclax and alrizomadlin are currently under investigation and have not yet been approved by the FDA in the US.*

**About Ascentage Pharma**

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) ("Ascentage Pharma" or the "Company") is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that include inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders.

The Company's first approved product, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting an FDA-cleared registrational Phase III trial, called POLARIS-2, of olverembatinib for CML, as well as registrational Phase III trials for patients with newly diagnosed Ph+ ALL, called POLARIS-1, and SDH-deficient GIST patients, called POLARIS-3.

The Company's second approved product, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. lisaftoclax has been approved by China's National Medical Products Administration (NMPA) for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have previously received at least one systemic therapy including Bruton's tyrosine kinase (BTK) inhibitors. The Company is currently conducting four global registrational Phase III trials: the FDA-cleared GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the FDA-cleared GLORA-4 study in patients with newly diagnosed higher risk MDS.

Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit https://ascentage.com/

**Cautionary Note Regarding Forward-Looking Statements**

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled "Risk factors" and "Cautionary note regarding forward-looking statements" in its Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026, the sections headed "Forward-looking Statements" and "Risks Factors" in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited where the Company's ordinary shares are listed it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company's management.

As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

**Contact Information**

**Investor Relations:**

Stella Yang<br> Ascentage Pharma<br> IR@ascentage.com <br> +1 (301) 792-6286

Stephanie Carrington<br> ICR Healthcare<br> AscentageIR@icrhealthcare.com<br> +1 (646) 277-1282

**Media Relations:**

Sean Leous<br> ICR Healthcare<br> AscentagePR@icrhealthcare.com<br> +1 (646) 866-4012

## Exhibit 99.4

**Exhibit 99.4**

*Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.*

![](ea029178201_ex99-4img1.jpg)

**ASCENTAGE PHARMA GROUP INTERNATIONAL<br> 亞盛醫藥集團** <br> *(Incorporated in the Cayman Islands with limited liability)*<br> **(Stock Code: 6855)**

**VOLUNTARY ANNOUNCEMENT**

**ASCENTAGE PHARMA RELEASES LATEST CLINICAL DATA FROM <br> MULTIPLE TRIALS AT ASCO 2026**

Ascentage Pharma Group International (the "Company" or "Ascentage Pharma") is pleased to announce that six abstracts from its clinical studies, selected for presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, are now available on ASCO's official website. Three of the six studies have been selected for rapid oral presentations, and three as poster presentation. These abstracts report data from ongoing studies evaluating the company's three lead drug candidates, including BCR-ABL inhibitor olverembatinib (HQP1351); Bcl-2 inhibitor lisaftoclax (APG-2575); and MDM2-p53 inhibitor alrizomadlin (APG-115).

This year's ASCO Annual Meeting will take place in person at McCormick Place in Chicago, IL, and online, from May 29, 2026 to June 2, 2026 (US local time). The ASCO Annual Meeting showcases cutting-edge research in clinical oncology and advanced cancer therapies and is the world's largest gathering in the clinical oncology community.

The key clinical results from Ascentage Pharma's abstracts selected for the 2026 ASCO Annual Meeting are as follows:

**<u>Rapid Oral Presentations</u>**

**Olverembatinib (HQP1351) combined with blinatumomab in patients with lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Philadelphia chromosome-positive B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL)** 

**Abstract number:** 6513

**Session Title:** Hematologic Malignancies – Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** May 30, 2026, 1:51 - 1:57 p.m., US Central Time (May 31, 2026, 2:51 - 2:57 a.m., Beijing Time)

**First Author:** Elias Jabbour, MD, Department of Leukemia, The University of Texas MD Anderson Cancer Center, Houston, TX

**Highlights:** 

● This multicenter, open-label phase Ib study evaluated the combination of olverembatinib and blinatumomab in patients with relapsed/refractory (R/R) Ph+ BCP-ALL or CML-LBP.

● Among five patients with measurable residual disease (MRD) positivity and no complete response (CR) at study entry, four achieved CR, and two achieved MRD negativity, with an overall manageable safety profile.

● This study provides initial clinical evidence supporting the feasibility of combining olverembatinib with immunotherapy in patients with CML-LBP and R/R Ph+ BCP-ALL in an international patient population.

**Updated efficacy and safety of olverembatinib (HQP1351) as second-line therapy in patients with chronic-phase chronic myeloid leukemia (CP-CML)** 

**Abstract number:** 6510

**Session Title:** Hematologic Malignancies – Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** May 30, 2026, 1:21 - 1:27 p.m., US Central Time (May 31, 2026, 2:21 - 2:27 a.m., Beijing Time)

**First Author:** Weiming Li, MD, Department of Hematology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan, China

**Highlights:** 

● This is a single-arm, multicenter, open-label study conducted in China, evaluating the efficacy and safety of olverembatinib as a second-line therapy in patients with CP-CML.

● Among 42 evaluable patients, at cycle 24, the complete cytogenetic response (CCyR) rate reached 91.3%, and the major molecular response (MMR) rate reached 60.9%. Among 32 patients who failed first-line second-generation TKIs, 81.3% achieved CCyR and 50% achieved MMR, with a favorable safety profile.

● Olverembatinib shows good tolerability and leads to high MMR and CCyR in patients with CP – CML without T315I mutation that isresistant/intolerant to first-line TKls.

**Alrizomadlin (APG-115) alone or in combination with lisaftoclax (APG-2575) for the treatment of pediatric patients with relapsed/metastatic rhabdomyosarcoma (RMS) or other soft-tissue sarcomas (STSs)**

**Abstract number:** 10012

**Session Title:** Pediatric Oncology II

**Date and Time:** May 30, 2026, 8:00 - 8:06 a.m., US Central Time (May 30, 2026, 9:00 - 9:06 p.m., Beijing Time)

**First Author:** Yizhuo Zhang, MD, Department of Pediatric Oncology, Sun Yat-sen University Cancer Center, State Key Laboratory of Oncology in South China, Collaborative Innovation Center for Cancer Medicine, Guangzhou, China

**Highlights:**

● This is a multicenter clinical trial conducted in China, evaluating the safety and preliminary efficacy of alrizomadlin (APG-115) as monotherapy or in combination with lisaftoclax (APG-2575) in heavily pretreated pediatric patients with neuroblastoma (NB), as well as relapsed/metastatic rhabdomyosarcoma (RMS), Ewing sarcoma (EWS), and other soft-tissue sarcomas (STSs).

● Results showed that no dose-limiting toxicities (DLT) were observed in either monotherapy or combination groups. Adverse events were mainly gastrointestinal and hematologic, with few serious adverse events, and no treatment-related deaths or discontinuations. In terms of clinical benefit, one patient with refractory RMS in the monotherapy group achieved CR; in the combination group, the objective response rate (ORR) was 30% and the disease control rate (DCR) was 80%.

● This regimen demonstrated a manageable safety profile and preliminary antitumor activity in pediatric solid tumors, warranting further investigation.

**<u>Poster Presentations</u>**

**Updated clinical and translational results of olverembatinib (HQP1351) in patients with succinate dehydrogenase (SDH)-deficient tumors** 

**Abstract number:** 11539

**Session Title:** Sarcoma

**Date and Time:** June 1, 2026, 1:30 - 4:30 p.m., US Central Time (June 2, 2026, 2:30 - 5:30 a.m., Beijing Time)

**First Author:** Haibo Qiu, MD, PhD, Sun Yat-sen University Cancer Center; State Key Laboratory of Oncology in South China Collaborative Innovation Center for Cancer Medicine, Sun Yat-sen University Cancer Center, Guangzhou, China

**Highlights:**

● This study in SDH-deficient tumors evaluated the efficacy of olverembatinib in patients with SDH-deficient gastrointestinal stromal tumors (GIST) and paraganglioma.

● Among 26 patients with SDH-deficient GIST, 6(23.1%)pts experienced PR as best response, with a median progression-free survival (PFS) of 25.7 months; among 6 patients with SDH-deficient paraganglioma, best responses were observed in 4 patients, with SD lasting≥4 cycles(CBR, 66.7%) and a median PFS of 8.25 months.

● This study, for the first time, revealed that olverembatinib inhibits fatty acid-promoted tumor cell migration by targeting the p38-CD36 pathway, providing a further insight on the mechanism of action of olverembatinib in SDH-deficient tumors.

**A phase 3 study of olverembatinib (HQP1351) in patients with chronic-phase chronic myeloid leukemia: POLARIS-2 trial in progress** 

**Abstract number:** TPS6608

**Session Title:** Hematologic Malignancies – Leukemia, Myelodysplastic Syndromes, and Allotransplant

**Date and Time:** June 1, 2026, 9:00 a.m. - 12:00 p.m., US Central Time (June 1, 2026, 10:00 p.m. - June 2, 2026, 1:00 a.m., Beijing Time)

**First Author:** Elias Jabbour, MD, Department of Leukemia, The University of Texas MD Anderson Cancer Center, Houston, TX

**Highlights:** 

● This FDA and EMA-cleared, global Phase III registrational clinical trial (POLARIS-2) is evaluating olverembatinib in patients with chronic-phase CML

● The study includes two independent cohorts. In Part A, patients with chronic-phase CML who have received at least two prior TKIs are randomized in a 2:1 ratio to receive olverembatinib or bosutinib; Part B is a single-arm study evaluating olverembatinib in patients harboring the T315I mutation. The primary endpoint for both parts is the MMR rate at or by 24 weeks.

**A global multicenter, open-label, randomized, phase 3 registrational study of lisaftoclax (APG-2575) in previously treated chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL): GLORA trial in progress** 

**Abstract number:** TPS7101

**Session Title:** Hematologic Malignancies – Lymphoma and Chronic Lymphocytic Leukemia

**Date and Time:** June 1, 2026, 9:00 a.m. - 12:00 p.m., US Central Time (June 1, 2026, 10:00 p.m. - June 2, 2026, 1:00 a.m., Beijing Time)

**First Author:** Matthew Steven Davids, MD, Dana-Farber Cancer Institute

**Highlights:**

● GLORA is a global, multicenter, open-label phase 3 registrational study.

● The aim of the study is to evaluate the efficacy and safety of lisaftoclax in combination with a BTK inhibitor in patients with CLL/SLL. Eligible patients have CLL/SLL and, after 12 months of BTKi monotherapy, have achieved neither complete response (CR) nor progressive disease (PD). The study plans to enroll approximately 440 patients across 126 centers in 18 countries and is currently enrolling.

**Cautionary Statement required by Rule 18A.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited:** We may not be able to ultimately develop and market alrizomadlin (APG-115) successfully.

By order of the Board<br> **Ascentage Pharma Group<br> International Dr. Yang Dajun**<br> *Chairman and Executive Director* 

Suzhou, People's Republic of China, May 22, 2026

*As at the date of this announcement, the Board comprises Dr. Yang Dajun as Chairman and executive Director, Dr. Wang Shaomeng and Dr. Lu Simon DazhongNote1 as non-executive Directors, and Mr. Ye Changqing, Mr. Ren Wei, Dr. David SidranskyNote2, Ms. Marina S. Bozilenko, Dr. Debra Yu and Dr. Marc E. Lippman, MD as independent non-executive Directors.*

*Notes:* 

 

*1.* *Dr. Lu Simon Dazhong satisfy the independence requirements of the U.S. Securities and Exchange Commission and Nasdaq corporate governance requirements* 

 

*2.* *Dr. David Sidransky is the Lead Independent Non-Executive Director of the Company.*