# EDGAR Filing Document

**Accession Number:** 0001861737
**File Stem:** 0001104659-26-022594
**Filing Date:** 2026-3
**Character Count:** 178173
**Document Hash:** d6747e2a7b76c7c18cacc38f568d7499
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-022594.hdr.sgml**: 20260303

**ACCESSION NUMBER**: 0001104659-26-022594

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20260303

**FILED AS OF DATE**: 20260303

**DATE AS OF CHANGE**: 20260303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hesai Group
- **CENTRAL INDEX KEY:** 0001861737
- **STANDARD INDUSTRIAL CLASSIFICATION:** GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC [3569]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41611
- **FILM NUMBER:** 26711265

**BUSINESS ADDRESS:**
- **STREET 1:** 1588 ZHUGUANG ROAD
- **STREET 2:** 9TH FLOOR, BUILDING L2-B
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 201702
- **BUSINESS PHONE:** 86 21 31588240

**MAIL ADDRESS:**
- **STREET 1:** 1588 ZHUGUANG ROAD
- **STREET 2:** 9TH FLOOR, BUILDING L2-B
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 201702

**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 March 2026

Commission File Number: 001-41611

**Hesai Group**

10th Floor, Building A

No. 658 Zhaohua Road, Changning District

Shanghai 200050

People's Republic of 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 ◻

**Exhibit Index**

---

| | |
|:---|:---|
| [3.1](tm267531d1_ex3-1.htm) | [Third Amended and Restated Memorandum and Articles of Association](tm267531d1_ex3-1.htm) |
| [99.1](tm267531d1_ex99-1.htm) | [Press Release – Hesai Group Announces Results of Extraordinary General Meeting, Class A Meeting and Class B Meeting](tm267531d1_ex99-1.htm) |
| [99.2](tm267531d1_ex99-2.htm) | [Announcement – Poll Results of the Extraordinary General Meeting and Class Meetings Held on March 3, 2026](tm267531d1_ex99-2.htm) |

---

**SIGNATURES**

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.

---

| | | |
|:---|:---|:---|
| **Hesai Group** | **Hesai Group** | **Hesai Group** |
| By | : | /s/ Yifan Li |
| Name | : | Yifan Li |
| Title | : | Chief Executive Officer |

---

Date:March 3, 2026

## Exhibit 3.1

**Exhibit 3.1**

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**HESAI GROUP**

*(adopted by a Special Resolution passed on March 3, 2026 and effective on March 3, 2026)*

1. The
 name of the Company is Hesai Group.

2. The
 Registered Office of the Company will be situated at the offices of Maples Corporate Services
 Limited at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, or at such other
 location within the Cayman Islands as the Directors may from time to time determine.

3. The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object not prohibited by the Companies Act or any
 other law of the Cayman Islands.

4. The
 Company shall have and be capable of exercising all the functions of a natural person of
 full capacity irrespective of any question of corporate benefit as provided by the Companies
 Act.

5. 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.

6. The
 liability of each Shareholder is limited to the amount, if any, unpaid on the Shares held
 by such Shareholder.

7. The
 authorized share capital of the Company is US$100,000 divided into 1,000,000,000 shares of
 a par value of US$0.0001 each, comprising (i) 50,000,000 Class A ordinary shares of a par
 value of US$0.0001 each, and (ii) 950,000,000 Class B ordinary shares of a par value of US$0.0001
 each. Subject to the Companies Act and the Articles, the Company shall have power to redeem
 or purchase any of its Shares and to increase or reduce its authorized share capital and
 to sub-divide or consolidate the said Shares or any of them and to issue all or any part
 of its capital whether original, redeemed, increased or reduced with or without any preference,
 priority, special privilege or other rights or subject to any postponement of rights or to
 any conditions or restrictions whatsoever and so that unless the conditions of issue shall
 otherwise expressly provide every issue of Shares whether stated to be ordinary, preference
 or otherwise shall be subject to the powers on the part of the Company hereinbefore provided.

8. The
 Company has the power contained in the Companies Act to deregister in the Cayman Islands
 and be registered by way of continuation in some other jurisdiction.

9. Capitalized
 terms that are not defined in this Memorandum of Association bear the same meanings as those
 given in the Articles of Association of the Company.

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**HESAI GROUP**

*(adopted by a Special Resolution passed on March 3, 2026 and effective on March 3, 2026)*

**TABLE A**

The regulations contained or incorporated in Table 'A' in the First Schedule of the Companies Act shall not apply to the Company and the following Articles shall comprise the Articles of Association of the Company.

**INTERPRETATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. In
 these Articles the following defined terms will have the meanings ascribed to them, if not
 inconsistent with the subject or context:

---

| | |
|:---|:---|
| **"ADS"** | means an American Depositary Share representing Class B Ordinary Shares; |
| **"Affiliate"** | means in respect of a Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person, and (i) in the case of a natural person, shall include, without limitation, such person's spouse, parents, children, siblings, mother-in-law, father-in-law, brothers-in-law and sisters-in-law, a trust for the benefit of any of the foregoing, and a corporation, partnership or any other entity wholly or jointly owned by any of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any other entity or any natural person which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term "control" shall mean the ownership, directly or indirectly, of shares possessing more than fifty percent (50%) of the voting power of the corporation, partnership or other entity (other than, in the case of a corporation, securities having such power only by reason of the happening of a contingency), or having the power to control the management or elect a majority of members to the board of directors or equivalent decision-making body of such corporation, partnership or other entity; |
| **"Articles"** | means these articles of association of the Company, as amended or substituted from time to time; |

---

---

| | |
|:---|:---|
| **"Auditor"** | means the Person for the time being performing the duties of auditor of the Company (if any). |
| **"Board"** and **"Board of Directors"** and **"Directors"** | means the directors of the Company for the time being, or as the case may be, the directors assembled as a board or as a committee thereof; |
| **"Chairperson"** | means the chairperson of the Board of Directors; |
| **"Class"** or **"Classes"** | means any class or classes of Shares as may from time to time be issued by the Company; |
| **"Class A Ordinary Share"** | means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class A Ordinary Shares and having the rights provided for in these Articles; |
| **"Class B Ordinary Share"** | means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles; |
| **"Co-Founder(s)"** | means Dr. Yifan Li, Dr. Kai Sun and Mr. Shaoqing Xiang; |

---

---

| | | |
|:---|:---|:---|
| "**Co-Founder Holding Vehicle"** | means: | means: |
|  | a) | a partnership of which a Co-Founder is a partner and the terms of which must expressly specify that the voting rights attached to any and all of the Class A Ordinary Shares held by such partnership are solely dictated by a Co-Founder; |
|  | b) | a trust of which a Co-Founder is a beneficiary and that meets the following conditions: (i) a Co-Founder must in substance retain an element of control of the trust and any immediate holding companies of, and retain a beneficial interest in any and all of the Class A Ordinary Shares held by such trust; and (ii) the purpose of the trust must be for estate planning and/or tax planning purposes; or |
|  | c) | a private company or other vehicle wholly-owned and wholly controlled by a Co-Founder or by a trust referred to in paragraph (b) above; |

---

---

| | |
|:---|:---|
| **"Commission"** | means the Securities and Exchange Commission of the United States of America or any other federal agency for the time being administering the Securities Act; |

---

---

| | |
|:---|:---|
| **"Communication Facilities "** | means technology (including without limitation video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or any other video-communications, internet or online conferencing application or telecommunications facilities) by means of which all natural persons participating in a meeting are capable of hearing and being heard by each other; |
| **"Company"** | means Hesai Group, a Cayman Islands exempted company; |
| **"Companies Act"** | means the Companies Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"Company's Website"** | means the main corporate/investor relations website of the Company, the address or domain name of which has been disclosed in any registration statement filed by the Company with the Commission in connection with its initial public offering of ADSs, or which has otherwise been notified to Shareholders; |
| **"Compliance Adviser"** | shall have the meaning given to it in the Listing Rules; |
| **"Corporate Communication"** | has the same meaning as in the Listing Rules; |
| **"Corporate Governance Committee"** | means the corporate governance committee of the Board established in accordance with Article 121; |
| **"Corporate Governance Report"** | means the corporate governance report to be included in the Company's annual reports or summary financial reports, if any, in accordance with the Listing Rules; |
| **"Director"** | means any director from time to time of the Company; |
| **"Designated Stock Exchange"** | means (i) the stock exchange in the United States on which any Shares or ADSs are listed for trading, or (ii) The Stock Exchange of Hong Kong Limited on which any Shares are listed for trading; |
| **"Designated Stock Exchange Rules"** | means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares or ADSs on any Designated Stock Exchange, and for the avoidance of doubt, include the Listing Rules; |
| **"electronic"** | has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; |

---

---

| | |
|:---|:---|
| **"electronic communication"** | means electronic posting to the Company's Website, transmission to any number, address or internet website or other electronic delivery methods as otherwise decided and approved by not less than two-thirds of the vote of the Board; |
| **"Electronic Transactions Act"** | means the Electronic Transactions Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"electronic record"** | has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; |
| **"Hong Kong"** | means the Hong Kong Special Administrative Region of the People's Republic of China; |
| **"Independent Non-executive Director"** | means a Director recognised as such by the relevant code, rules and regulations applicable to the listing of shares on The Stock Exchange of Hong Kong Limited; |
| **"Listing Rules"** | means the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as amended from time to time; |
| **"Memorandum of Association"** | means the memorandum of association of the Company, as amended or substituted from time to time; |
| **"Nomination Committee"** | means the nomination committee of the Board established in accordance with Article 116; |
| **"Ordinary Resolution"** | means a resolution: |

---

(a) passed by a
 simple majority of the votes cast by such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed,
 by proxy or, in the case of corporations, by their duly authorized representatives, at a general meeting of the Company held in accordance
 with these Articles; or

(b) approved in writing by all of the Shareholders entitled to vote at
 a general meeting of the Company in one or more instruments each signed by one or more of the Shareholders and the effective date
 of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed;

---

| | |
|:---|:---|
| **"Ordinary Share"** | means a Class A Ordinary Share or a Class B Ordinary Share; |
| **"paid up"** | means paid up as to the par value in respect of the issue of any Shares and includes credited as paid up; |

---

---

| | |
|:---|:---|
| **"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; |
| **"Present"** | means in respect of any Person, such Person's presence at a general meeting of Shareholders (or any meeting of the holders of any Class of Shares), which may be satisfied by means of such Person or, if a corporation or other non-natural Person, its duly authorized representative (or, in the case of any Shareholder, a proxy which has been validly appointed by such Shareholder in accordance with these Articles), being: (a) physically present at the venue specified in the notice convening the meeting; or (b) in the case of any meeting at which Communication Facilities are permitted in accordance with these Articles, including any Virtual Meeting, connected by means of the use of such Communication Facilities in accordance with procedures specified in the notice convening such general meeting; and "Presence" shall be construed accordingly; |
| **"Register"** | means the register of Members of the Company maintained in accordance with the Companies Act; |
| **"Registered Office"** | means the registered office of the Company as required by the Companies Act; |
| **"Seal"** | means the common seal of the Company (if adopted) including any facsimile thereof; |
| **"Secretary"** | means any Person appointed by the Directors to perform any of the duties of the secretary of the Company; |
| **"Securities Act"** | means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; |
| **"Share"** | means a share in the share capital of the Company. All references to "Shares" herein shall be deemed to be Shares of any or all Classes 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 a Person who is registered as the holder of one or more Shares in the Register; |
| **"Share Premium Account"** | means the share premium account established in accordance with these Articles and the Companies Act; |

---

---

| | |
|:---|:---|
| **"signed"** | means bearing a signature or representation of a signature affixed by mechanical means or an electronic symbol or process attached to or logically associated with an electronic communication and executed or adopted by a Person with the intent to sign the electronic communication; |
| **"Special Resolution"** | means a special resolution of the Company passed in accordance with the Companies Act, and for the purpose of these Articles, being a resolution: |

---

(b) approved
 in writing by all of the Shareholders entitled to vote at a general meeting of the Company
 in one or more instruments each signed by one or more of the Shareholders and the effective
 date of the special resolution so adopted shall be the date on which the instrument or the
 last of such instruments, if more than one, is executed;

(a) passed by not
 less than three-fourths of the votes cast by such Shareholders as, being entitled to do so,
 vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by
 their duly authorized representatives, at a general meeting of the Company of which notice
 specifying the intention to propose the resolution as a special resolution has been duly
 given; or

---

| | |
|:---|:---|
| **"Takeovers Code"** | means The Codes and Takeovers and Mergers and Share Buy-backs issued by the Securities and Future Commission of Hong Kong; |
| **"Treasury Share"** | means a Share held in the name of the Company as a treasury share in accordance with the Companies Act; |
| **"United States"** | means the United States of America, its territories, its possessions and all areas subject to its jurisdiction; and |
| **"Virtual Meeting"** | means any general meeting of the Shareholders (or any meeting of the holders of any Class of Shares) at which the Shareholders (and any other permitted participants of such meeting, including without limitation the chairperson of the meeting and any Directors) are permitted to be Present solely by means of Communication Facilities. |

---

2. In
 these Articles, save where the context requires otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing the masculine gender only shall include the feminine gender and any Person as the
 context may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 word "may" shall be construed as permissive and the word "shall"
 shall be construed as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) reference
 to a dollar or dollars (or US$) and to a cent or cents is reference to dollars and cents
 of the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) reference
 to a statutory enactment shall include reference to any amendment or re-enactment thereof
 for the time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) reference
 to any determination by the Directors shall be construed as a determination by the Directors
 in their sole and absolute discretion and shall be applicable either generally or in any
 particular case;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) reference
 to "in writing" shall be construed as written or represented by any means reproducible
 in writing, including any form of print, lithograph, email, facsimile, photograph or telex
 or represented by any other substitute or format for storage or transmission for writing
 including in the form of an electronic record or partly one and partly another;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) any
 requirements as to delivery under the Articles include delivery in the form of an electronic
 record or an electronic communication;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 requirements as to execution or signature under the Articles, including the execution of
 the Articles themselves, can be satisfied in the form of an electronic signature as defined
 in the Electronic Transactions Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Sections
 8 and 19(3) of the Electronic Transactions Act shall not apply.

3. Subject
 to the last two 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.

**PRELIMINARY**

4. The
 business of the Company may be conducted as the Directors see fit.

5. The
 Registered Office shall be at such address in the Cayman Islands as the Directors may from
 time to time determine. The Company may in addition establish and maintain such other offices
 and places of business and agencies in such places as the Directors may from time to time
 determine.

6. The
 expenses incurred in the formation of the Company and in connection with the offer for subscription
 and issue of Shares shall be paid by the Company. Such expenses may be amortized over such
 period as the Directors may determine and the amount so paid shall be charged against income
 and/or capital in the accounts of the Company as the Directors shall determine.

7. The
 Directors shall keep, or cause to be kept, the Register at such place as the Directors may
 from time to time determine and, in the absence of any such determination, the Register shall
 be kept at the Registered Office.

**SHARES**

8. Subject
 to these Articles, compliance with the Listing Rules (and only to such extent permitted thereby),
 any applicable rules and regulations of authorities of places where the securities of the
 Company are listed, and to any direction that may be given by the Company in general meeting),
 all Shares for the time being unissued shall be under the control of the Directors who may,
 in their absolute discretion and without the approval of the Members, cause the Company to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue,
 allot and dispose of Shares (including, without limitation, preferred shares) (whether in
 certificated form or non-certificated form) to such Persons, in such manner, on such terms
 and having such rights and being subject to such restrictions as they may from time to time
 determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) grant
 rights over Shares or other securities to be issued in one or more Classes or series as they
 deem necessary or appropriate and determine the designations, powers, preferences, privileges
 and other rights attaching to such Shares or securities, including dividend rights, voting
 rights, conversion rights, terms of redemption and liquidation preferences, any or all of
 which may be greater than the powers, preferences, privileges and rights associated with
 the then issued and outstanding Shares, at such times and on such other terms as they think
 proper; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) grant
 options with respect to Shares and issue warrants or similar instruments with respect thereto.

9. Subject
 to the Articles and compliance with the Listing Rules and the Takeovers Code, and on the
 conditions that (a) no new Class of Shares with voting rights superior to those of Class
 B Ordinary Shares will be created; and (b) any variations in the relative rights as between
 the different Classes will not result in the creation of new Class of Shares with voting
 rights superior to those of Class B Ordinary Shares, the Directors may issue from time to
 time, out of the authorized share capital of the Company (other than the authorized but unissued
 Ordinary Shares), series of preferred shares in their absolute discretion and without approval
 of the Members; provided, however, before any preferred shares of any such series are issued,
 the Directors shall by resolution of Directors determine, with respect to any series of preferred
 shares, the terms and rights of that series, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 designation of such series, the number of preferred shares to constitute such series and
 the subscription price thereof if different from the par value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the preferred shares of such series shall have voting rights, in addition to any voting rights
 provided by law, and, if so, the terms of such voting rights, which may be general or limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 dividends, if any, payable on such series, whether any such dividends shall be cumulative,
 and, if so, from what dates, the conditions and dates upon which such dividends shall be
 payable, and the preference or relation which such dividends shall bear to the dividends
 payable on any Shares of any other Class or any other series of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 the preferred shares of such series shall be subject to redemption by the Company, and, if
 so, the times, prices and other conditions of such redemption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) whether
 the preferred shares of such series shall have any rights to receive any part of the assets
 available for distribution amongst the Members upon the liquidation of the Company, and,
 if so, the terms of such liquidation preference, and the relation which such liquidation
 preference shall bear to the entitlements of the holders of Shares of any other Class or
 any other series of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) whether
 the preferred shares of such series shall be subject to the operation of a retirement or
 sinking fund and, if so, the extent to and manner in which any such retirement or sinking
 fund shall be applied to the purchase or redemption of the preferred shares of such series
 for retirement or other corporate purposes and the terms and provisions relative to the operation
 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) whether
 the preferred shares of such series shall be convertible into, or exchangeable for, Shares
 of any other Class or any other series of preferred shares or any other securities and, if
 so, the price or prices or the rate or rates of conversion or exchange and the method, if
 any, of adjusting the same, and any other terms and conditions of conversion or exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 limitations and restrictions, if any, to be effective while any preferred shares of such
 series are outstanding upon the payment of dividends or the making of other distributions
 on, and upon the purchase, redemption or other acquisition by the Company of, the existing
 Shares or Shares of any other Class of Shares or any other series of preferred shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 conditions or restrictions, if any, upon the creation of indebtedness of the Company or upon
 the issue of any additional Shares, including additional Shares of such series or of any
 other Class of Shares or any other series of preferred shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 other powers, preferences and relative, participating, optional and other special rights,
 and any qualifications, limitations and restrictions thereof;

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued. The Company shall not issue Shares to bearer.

10. The
 Company may insofar as may be permitted by law, pay a commission to any Person in consideration
 of his or her subscribing or agreeing to subscribe whether absolutely or conditionally for
 any Shares. Such commissions may be satisfied by the payment of cash or the lodgment of fully
 or partly paid-up Shares or partly in one way and partly in the other. The Company may also
 pay such brokerage as may be lawful on any issue of Shares.

11. The
 Directors may refuse to accept any application for Shares, and may accept any application
 in whole or in part, for any reason or for no reason.

**CLASS A ORDINARY SHARES AND CLASS B ORDINARY SHARES**

12. Holders
 of Class A Ordinary Shares and Class B Ordinary Shares shall at all times vote together as
 one Class on all resolutions submitted to a vote by the Members. Each Class A Ordinary Share
 shall entitle the holder thereof to ten (10) votes on all matters subject to vote at general
 meetings of the Company, save for resolutions with respect to any reserved matters under
 Article 85, in which case it shall entitle the holder thereof to one (1) vote per Class A
 Ordinary Share, and each Class B Ordinary Share shall entitle the holder thereof to one (1)
 vote on all matters subject to vote at general meetings of the Company.

13. Each
 Class A Ordinary Share is convertible into one (1) Class B Ordinary Share at any time at
 the option of the holder thereof. The right to convert shall be exercisable by the holder
 of the Class A Ordinary Share delivering a written notice to the Company that such holder
 elects to convert a specified number of Class A Ordinary Shares into Class B Ordinary Shares.

14. Class
 A Ordinary Shares shall only be held by a Co-Founder or a Co-Founder Holding Vehicle. Subject
 to the Listing Rules or other applicable laws or regulations, each Class A Ordinary Share
 (and, in the case of (e) below, each relevant Class A Ordinary Share) shall be automatically
 converted into one Class B Ordinary Share upon the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 death of the holder of such Class A Ordinary Share (or, where the holder is a Co-Founder
 Holding Vehicle, the death of a Co-Founder);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 holder of such Class A Ordinary Share ceasing to be a Director or a Co-Founder Holding Vehicle
 for any reason;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 holder of such Class A Ordinary Share (or, where the holder is a Co-Founder Holding Vehicle,
 a Co-Founder) being deemed by The Stock Exchange of Hong Kong Limited to be incapacitated
 for the purpose of performing his or her duties as a Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 holder of such Class A Ordinary Share (or, where the holder is a Co-Founder Holding Vehicle,
 a Co-Founder) being deemed by The Stock Exchange of Hong Kong Limited to no longer meet the
 requirements of a director set out in the Listing Rules; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any
 direct or indirect sale, transfer, assignment, or disposition of the beneficial ownership
 of, or economic interest in, such Class A Ordinary Share or the control over the voting rights
 attached to such Class A Ordinary Share through voting proxy or otherwise to any person,
 including by reason that a Co-Founder Holding Vehicle no longer complies with Rule 8A.18(2)
 of the Listing Rules (in which case the Company and a Co-Founder or a Co-Founder Holding
 Vehicle must notify The Stock Exchange of Hong Kong Limited as soon as practicable with details
 of the non-compliance), other than a transfer of the legal title to such Class A Ordinary
 Share by a Co-Founder to another Co-Founder, or by a Co-Founder to a Co-Founder Holding Vehicle
 wholly-owned and wholly controlled by him or her, or by a Co-Founder Holding Vehicle to a
 Co-Founder or another Co-Founder Holding Vehicle wholly-owned and wholly controlled by a
 Co-Founder;

for the avoidance of doubt, the creation of any pledge, charge, encumbrance, or other third party right of whatever description on any of Class A Ordinary Shares to secure contractual or legal obligations shall not be deemed as a sale, transfer, assignment, or disposition under this Article 14 unless and until any such pledge, charge, encumbrance, or other third party right is enforced and results in a third party that is not a Co-Founder or a Co-Founder Holding Vehicle wholly-owned and wholly controlled by such Co-Founder holding directly or indirectly legal or beneficial ownership or voting power through voting proxy or otherwise to the related Class A Ordinary Shares, in which case all the related Class A Ordinary Shares shall be automatically converted into the same number of Class B Ordinary Shares.

15. Any
 conversion of Class A Ordinary Shares into Class B Ordinary Shares pursuant to these Articles
 shall be effected by means of the re-designation and re-classification of each relevant Class
 A Ordinary Share as a Class B Ordinary Share. Such conversion shall become effective (i)
 in the case of any conversion effected pursuant to Article 13, forthwith upon the receipt
 by the Company of the written notice delivered to the Company as described in Article 13
 (or at such later date as may be specified in such notice) and upon entries being made in
 the Register to record the re-designation and re-classification of the relevant Class A Ordinary
 Shares as Class B Ordinary Shares, or (ii) in the case of any automatic conversion effected
 pursuant to Article 16, forthwith upon occurrence of the event specified in Article 16 which
 triggers such automatic conversion, and upon entries being made in the Register to record
 the re-designation and re-classification of the relevant Class A Ordinary Shares as Class
 B Ordinary Shares at the relevant time.

16. All
 of the Class A Ordinary Shares in the authorized share capital shall be automatically re-designated
 into Class B Ordinary Shares in the event all of the Class A Ordinary Shares in issue are
 converted into Class B Ordinary Shares in accordance with Article 14 or Article 15, or that
 none of the holders of Class A Ordinary Shares at the time of the Company's initial
 listing on The Stock Exchange of Hong Kong Limited hold any Class A Ordinary Shares, and
 no further Class A Ordinary Shares shall be issued by the Company.

17. Following
 the adoption of these Articles, the Company shall not issue any additional Class A Ordinary
 Shares, or any options, warrants or convertible securities of similar nature conferring the
 right upon the holders thereof to subscribe for, purchase or receive any Class A Ordinary
 Shares other than in accordance with Article 19.

18. The
 Company shall not take any action (including the issue or repurchase of Shares of any Class)
 that would result in (a) the aggregate number of votes entitled to be cast by all holders
 of Class B Ordinary Shares (for the avoidance of doubt, excluding those who are also holders
 of Class A Ordinary Shares) present at a general meeting to be less than 10% of the votes
 entitled to be cast by all members at a general meeting; or (b) an increase in the proportion
 of Class A Ordinary Shares to the total number of Shares in issue.

19. No
 further Class A Ordinary Shares shall be issued by the Company, except with the prior approval
 of The Stock Exchange of Hong Kong Limited and pursuant to (i) an offer to subscribe for
 Shares made to all the Shareholder pro rata (apart from fractional entitlements) to their
 existing holdings; (ii) a pro rata issue of Shares to all the Shareholder by way of scrip
 dividends; or (iii) a Share subdivision or other similar capital reorganisation; provided
 that, each Shareholder shall be entitled to subscribe for (in a pro rata offer) or be issued
 (in an issue of Shares by way of scrip dividends) Shares in the same Class as the Shares
 then held by him or her, notwithstanding the provisions of Article 22; and further provided
 that the proposed allotment or issuance will not result in an increase in the proportion
 of Class A Ordinary Shares in issue, so that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if,
 under a pro rata offer, any holder of Class A Ordinary Shares does not take up any part of
 the Class A Ordinary Shares or the rights thereto offered to him or her, such untaken Shares
 (or rights) shall only be transferred to another person on the basis that such transferred
 rights will only entitle the transferee to an equivalent number of Class B Ordinary Shares;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 the extent that rights to Class B Ordinary Shares in a pro rata offer are not taken up in
 their entirety, the number of Class A Ordinary Shares that shall be allotted, issued or granted
 in such pro rata offer shall be reduced proportionately.

20. In
 the event the Company reduces the number of Class B Ordinary Shares in issue (including,
 but not limited to, through a purchase of its own shares), the holders of Class A Ordinary
 Shares shall reduce their weighted voting rights in the Company proportionately, whether
 through a conversion of a portion of their Class A Ordinary Shares or otherwise, if the reduction
 in the number of Class B Ordinary Shares in issue would otherwise result in an increase in
 the proportion of Class A Ordinary Shares to the total number of shares in issue.

21. The
 Company shall not vary the rights of the Class A Ordinary Shares so as to increase the weighted
 voting rights attached to each Class A Ordinary Share.

22. Save
 and except for voting rights and conversion rights as set out in Articles 12 to 21 (inclusive),
 the Class A Ordinary Shares and the Class B Ordinary Shares shall rank pari passu with one
 another and shall have the same rights, preferences, privileges and restrictions.

**TREASURY SHARES**

23. The
 Directors may, prior to the purchase, redemption or surrender of any Share, determine that
 such Share shall be held as a Treasury Share.

24. The
 Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms
 as they think proper (including, without limitation, for nil consideration).

25. For
 so long as the Company holds Treasury Shares:

&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 issued Shares at any given time, whether for the purposes of these
 Articles or the Companies Act.

**MODIFICATION OF RIGHTS**

26. Whenever
 the capital of the Company is divided into different Classes the rights attached to any such
 Class may, subject to any rights or restrictions for the time being attached to any Class,
 only be varied with the consent in writing of the holders of the Shares of that Class which
 carry in aggregate at least three-fourths (3/4) of the voting rights of Shares of that Class
 or with the sanction of a Special Resolution passed at a separate meeting of the holders
 of the Shares of that Class. To every such separate meeting all the provisions of these Articles
 relating to general meetings of the Company or to the proceedings thereat shall, *mutatis mutandis*, apply, except that the necessary quorum shall be one or more Persons holding
 or representing by proxy at least one-third (1/3) in nominal or par value amount of the issued
 Shares of the relevant Class (but so that if at any adjourned meeting of such holders a quorum
 as above defined is not Present, those Shareholders who are Present shall form a quorum)
 and that, subject to any rights or restrictions for the time being attached to the Shares
 of that Class, every Shareholder of the Class shall on a poll have one vote for each Share
 of the Class held by him or her.

27. The
 rights conferred upon the holders of the Shares of any Class issued with preferred or other
 rights shall not, subject to any rights or restrictions for the time being attached to the
 Shares of that Class, be deemed to be varied by, inter alia, the creation, allotment or issue
 of further Shares ranking *pari passu* with or subsequent to them or the redemption
 or purchase of any Shares of any Class by the Company.

**CERTIFICATES**

28. Every
 Person whose name is entered as a Member in the Register may, without payment and upon its
 written request, request a certificate within two calendar months after allotment or lodgment
 of transfer (or within such other period as the conditions of issue shall provide) in the
 form determined by the Directors. All certificates shall specify the Share or Shares held
 by that Person, provided that in respect of a Share or Shares held jointly by several Persons
 the Company shall not be bound to issue more than one certificate, and delivery of a certificate
 for a Share to one of several joint holders shall be sufficient delivery to all. All certificates
 for Shares shall be delivered personally or sent through the post addressed to the Member
 entitled thereto at the Member's registered address as appearing in the Register.

29. Every
 share certificate of the Company shall bear legends required under the applicable laws, including
 the Securities Act.

30. Any
 two or more certificates representing Shares of any one Class held by any Member may at the
 Member's request be cancelled and a single new certificate for such Shares issued in
 lieu on payment (if the Directors shall so require) of one dollar (US$1.00) or such smaller
 sum as the Directors shall determine. Every share certificate shall prominently include the
 words "A company controlled through weighted voting rights" or such language
 as may be specified by The Stock Exchange of Hong Kong Limited from time to time, and specify
 the number and Class of Shares in respect of which it is issued and the amount paid thereon
 or the fact that they are fully paid, as the case may be, and may otherwise be in such form
 as the Board may from time to time prescribe.

31. If
 a share certificate shall be damaged or defaced or alleged to have been lost, stolen or destroyed,
 a new certificate representing the same Shares may be issued to the relevant Member upon
 request, subject to delivery up of the old certificate or (if alleged to have been lost,
 stolen or destroyed) compliance with such conditions as to evidence and indemnity and the
 payment of out-of-pocket expenses of the Company in connection with the request as the Directors
 may think fit.

32. In
 the event that Shares are held jointly by several Persons, any request may be made by any
 one of the joint holders and if so made shall be binding on all of the joint holders.

**FRACTIONAL SHARES**

33. The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the generality of the
 foregoing, voting and participation rights) and other attributes of a whole Share. If more
 than one fraction of a Share of the same Class is issued to or acquired by the same Shareholder
 such fractions shall be accumulated.

**LIEN**

34. The
 Company has a first and paramount lien on every Share (whether or not fully paid) for all
 amounts (whether presently payable or not) payable at a fixed time or called in respect of
 that Share. The Company also has a first and paramount lien on every Share registered in
 the name of a Person indebted or under liability to the Company (whether he or she is the
 sole registered holder of a Share or one of two or more joint holders) for all amounts owing
 by him or his or her estate to the Company (whether or not presently payable). The Directors
 may at any time declare a Share to be wholly or in part exempt from the provisions of this
 Article. The Company's lien on a Share extends to any amount payable in respect of
 it, including but not limited to dividends.

35. The
 Company may sell, in such manner as the Directors in their absolute discretion think fit,
 any Share on which the Company has a lien, but no sale shall be made unless an amount in
 respect of which the lien exists is presently payable nor until the expiration of fourteen
 (14) calendar days after a notice in writing, demanding payment of such part of the amount
 in respect of which the lien exists as is presently payable, has been given to the registered
 holder for the time being of the Share, or the Persons entitled thereto by reason of his
 or her death or bankruptcy.

36. For
 giving effect to any such sale the Directors may authorize a Person to transfer the Shares
 sold to the purchaser thereof. The purchaser shall be registered as the holder of the Shares
 comprised in any such transfer and he or she shall not be bound to see to the application
 of the purchase money, nor shall his or her title to the Shares be affected by any irregularity
 or invalidity in the proceedings in reference to the sale.

37. The
 proceeds of the sale after deduction of expenses, fees and commission incurred by the Company
 shall be received by the Company and applied in payment of such part of the amount in respect
 of which the lien exists as is presently payable, and the residue shall (subject to a like
 lien for sums not presently payable as existed upon the Shares prior to the sale) be paid
 to the Person entitled to the Shares immediately prior to the sale.

**CALLS ON SHARES**

38. Subject
 to the terms of the allotment, the Directors may from time to time make calls upon the Shareholders
 in respect of any moneys unpaid on their Shares, and each Shareholder shall (subject to receiving
 at least fourteen (14) calendar days' notice specifying the time or times of payment)
 pay to the Company at the time or times so specified the amount called on such Shares. A
 call shall be deemed to have been made at the time when the resolution of the Directors authorizing
 such call was passed.

39. The
 joint holders of a Share shall be jointly and severally liable to pay calls in respect thereof.

40. If
 a sum called in respect of a Share is not paid before or on the day appointed for payment
 thereof, the Person from whom the sum is due shall pay interest upon the sum at the rate
 of eight percent per annum from the day appointed for the payment thereof to the time of
 the actual payment, but the Directors shall be at liberty to waive payment of that interest
 wholly or in part.

41. The
 provisions of these Articles as to the liability of joint holders and as to payment of interest
 shall apply in the case of non-payment of any sum which, by the terms of issue of a Share,
 becomes payable at a fixed time, whether on account of the amount of the Share, or by way
 of premium, as if the same had become payable by virtue of a call duly made and notified.

42. The
 Directors may make arrangements with respect to the issue of partly paid Shares for a difference
 between the Shareholders, or the particular Shares, in the amount of calls to be paid and
 in the times of payment.

43. The
 Directors may, if they think fit, receive from any Shareholder willing to advance the same
 all or any part of the moneys uncalled and unpaid upon any partly paid Shares held by him
 or her, and upon all or any of the moneys so advanced may (until the same would, but for
 such advance, become presently payable) pay interest at such rate (not exceeding without
 the sanction of an Ordinary Resolution, eight percent per annum) as may be agreed upon between
 the Shareholder paying the sum in advance and the Directors. No such sum paid in advance
 of calls shall entitle the Member paying such sum to any portion of a dividend declared in
 respect of any period prior to the date upon which such sum would, but for such payment,
 become presently payable.

**FORFEITURE OF SHARES**

44. If
 a Shareholder fails to pay any call or instalment of a call in respect of partly paid Shares
 on the day appointed for payment, the Directors may, at any time thereafter during such time
 as any part of such call or instalment remains unpaid, serve a notice on him or her requiring
 payment of so much of the call or instalment as is unpaid, together with any interest which
 may have accrued.

45. The
 notice shall name a further day (not earlier than the expiration of fourteen (14) calendar
 days from the date of the notice) on or before which the payment required by the notice is
 to be made, and shall 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.

46. 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 notice has been made, be forfeited by a resolution of the Directors to that effect.

47. A
 forfeited Share may be sold or otherwise disposed of on such terms and in such manner as
 the Directors think fit, and at any time before a sale or disposition the forfeiture may
 be cancelled on such terms as the Directors think fit.

48. A
 Person whose Shares have been forfeited shall cease to be a Shareholder in respect of the
 forfeited Shares, but shall, notwithstanding, remain liable to pay to the Company all moneys
 which at the date of forfeiture were payable by him or her to the Company in respect of the
 Shares forfeited, but his or her liability shall cease if and when the Company receives payment
 in full of the amount unpaid on the Shares forfeited.

49. A
 certificate in writing under the hand of a Director that a Share has been duly forfeited
 on a date stated in the certificate shall be conclusive evidence of the facts in the declaration
 as against all Persons claiming to be entitled to the Share.

50. The
 Company may receive the consideration, if any, given for a Share on any sale or disposition
 thereof pursuant to the provisions of these Articles as to forfeiture and may execute a transfer
 of the Share in favor of the Person to whom the Share is sold or disposed of and that Person
 shall be registered as the holder of the Share and shall not be bound to see to the application
 of the purchase money, if any, nor shall his or her title to the Shares be affected by any
 irregularity or invalidity in the proceedings in reference to the disposition or sale.

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

**TRANSFER OF SHARES**

52. The
 instrument of transfer of any Share shall be in writing and in any usual or common form or
 such other form as the Directors may, in their absolute discretion, approve and be executed
 by or on behalf of the transferor and if in respect of a nil or partly paid up Share, or
 if so required by the Directors, shall also be executed on behalf of the transferee and shall
 be accompanied by the certificate (if any) of the Shares to which it relates and such other
 evidence as the Directors may reasonably require to show the right of the transferor to make
 the transfer. The instrument of transfer of any Share shall be executed with a manual signature
 or a facsimile signature (which may be machine printed or otherwise) by or on behalf of the
 transferor and the transferee, provided that in the case of execution by facsimile signature
 by or on behalf of a transferor or transferee, the Directors shall have previously been provided
 with a list of specimen signatures of the authorised signatories of such transferor or transferee
 and the Directors shall be reasonably satisfied that such facsimile signature corresponds
 to one of those specimen signatures. The transferor shall be deemed to remain a Shareholder
 until the name of the transferee is entered in the Register in respect of the relevant Shares.

53. (a) The
 Directors may in their absolute discretion decline to register any transfer of Shares which
 is not fully paid up or on which the Company has a lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors may also decline to register any transfer of any Share unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 instrument of transfer is lodged with the Company, accompanied by the certificate for 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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 instrument of transfer is in respect of only one Class of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 instrument of transfer is properly stamped, if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in
 the case of a transfer to joint holders, the number of joint holders to whom the Share is
 to be transferred does not exceed four; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a
 fee of such maximum sum as the Designated Stock Exchange may determine to be payable, or
 such lesser sum as the Board of Directors may from time to time require, is paid to the Company
 in respect thereof.

54. The
 registration of transfers may, on ten (10) calendar days' notice being given by advertisement
 in such one or more newspapers, by electronic means or by any other means in accordance with
 the Designated Stock Exchange Rules, be suspended and the Register closed at such times and
 for such periods as the Directors may, in their absolute discretion, from time to time determine,
 provided always that such registration of transfer shall not be suspended nor the Register
 closed for more than thirty (30) calendar days in any calendar year.

55. All
 instruments of transfer that are registered shall be retained by the Company. If the Directors
 refuse to register a transfer of any Shares, they shall within three calendar months after
 the date on which the transfer was lodged with the Company send notice of the refusal to
 each of the transferor and the transferee.

**TRANSMISSION OF SHARES**

56. The
 legal personal representative of a deceased sole holder of a Share shall be the only Person
 recognized by the Company as having any title to the Share. In the case of a Share registered
 in the name of two or more holders, the survivors or survivor, or the legal personal representatives
 of the deceased survivor, shall be the only Person recognized by the Company as having any
 title to the Share.

57. Any
 Person becoming entitled to a Share in consequence of the death or bankruptcy of a Shareholder
 shall, upon such evidence being produced as may from time to time be required by the Directors,
 have the right either to be registered as a Shareholder in respect of the Share or, instead
 of being registered himself or herself, to make such transfer of the Share as the deceased
 or bankrupt Person could have made; but the Directors shall, in either case, have the same
 right to decline or suspend registration as they would have had in the case of a transfer
 of the Share by the deceased or bankrupt Person before the death or bankruptcy.

58. A
 Person becoming entitled to a Share by reason of the death or bankruptcy of a Shareholder
 shall be entitled to the same dividends and other advantages to which he or she would be
 entitled if he or she were the registered Shareholder, except that he or she shall not, before
 being registered as a Shareholder in respect of the Share, be entitled in respect of it to
 exercise any right conferred by membership in relation to meetings of the Company, provided
 however, that the Directors may at any time give notice requiring any such Person to elect
 either to be registered himself or herself or to transfer the Share, and if the notice is
 not complied with within ninety (90) calendar days, the Directors may thereafter withhold
 payment of all dividends, bonuses or other monies payable in respect of the Share until the
 requirements of the notice have been complied with.

**REGISTRATION OF EMPOWERING INSTRUMENTS**

59. The
 Company shall be entitled to charge a fee not exceeding one U.S. dollar (US$1.00) on the
 registration of every probate, letters of administration, certificate of death or marriage,
 power of attorney, notice in lieu of distringas, or other instrument.

**ALTERATION OF SHARE CAPITAL**

60. The
 Company may from time to time by Ordinary Resolution increase the share capital by such sum,
 to be divided into Shares of such Classes and amount, as the resolution shall prescribe.

61. The
 Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by new Shares of such amount as it thinks expedient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate
 and divide all or any of its share capital into Shares of a larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subdivide
 its Shares, or any of them, into Shares of an amount smaller than that fixed by the Memorandum,
 provided that in the subdivision the proportion between the amount paid and the amount, if
 any, unpaid on each reduced Share shall be the same as it was in case of the Share from which
 the reduced Share is derived; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) cancel
 any Shares that, 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.

62. The
 Company may by Special Resolution reduce its share capital and any capital redemption reserve
 in any manner authorized by the Companies Act.

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

63. Subject
 to the provisions of the Companies Act and these Articles, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or are liable to be redeemed at the option of the Shareholder
 or the Company. The redemption of Shares shall be effected in such manner and upon such terms
 as may be determined, before the issue of such Shares, by either the Board or by the Shareholders
 by Ordinary Resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) on such terms and in such manner and terms
 as have been approved by the Board or by the Members by Ordinary Resolution, or are otherwise
 authorized by these Articles, provided always that any such purchase shall only be made in
 accordance with any relevant code, rules or regulations issued by The Stock Exchange of Hong
 Kong Limited or the Securities and Futures Commission of Hong Kong from time to time in force;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 a payment in respect of the redemption or purchase of its own Shares in any manner permitted
 by the Companies Act, including out of capital.

64. The
 purchase of any Share shall not oblige the Company to purchase any other Share other than
 as may be required pursuant to applicable law and any other contractual obligations of the
 Company.

65. The
 holder of the Shares being purchased shall be bound to deliver up to the Company the certificate(s)
 (if any) thereof for cancellation and thereupon the Company shall pay to him or her the purchase
 or redemption monies or consideration in respect thereof.

66. The
 Directors may accept the surrender for no consideration of any fully paid Share.

**GENERAL MEETINGS**

67. All
 general meetings other than annual general meetings shall be called extraordinary general
 meetings.

68. (a) The
 Company shall hold a general meeting as its annual general meeting for each financial year,
 to be held within six months (or such other period as may be permitted by the Listing Rules
 or The Stock Exchange of Hong Kong Limited) after the end of such financial year. The annual
 general meeting shall be specified as such in the notices calling it, and shall be held at
 such time and place (or held as a Virtual Meeting) as may be determined by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At
 these meetings the report of the Directors (if any) shall be presented.

69. (a)
 The Chairperson or a majority of the Directors may call general meetings, and they shall
 on a Shareholders' requisition forthwith proceed to convene an extraordinary general
 meeting of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A
 Shareholders' requisition is a requisition of Members holding at the date of deposit
 of the requisition Shares which carry in aggregate not less than one-tenth of the voting
 rights, on an one vote per share basis, of the issued Shares which as at the date of the
 deposit carry the right to vote at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 requisition must state the objects of the meeting and the resolutions to be added to the
 meeting agenda, and must be signed by the requisitionists and deposited at the Registered
 Office, and may consist of several documents in like form each signed by one or more requisitionists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If
 there are no Directors as at the date of the deposit of the Shareholders' requisition,
 or if the Directors do not within twenty-one (21) calendar days from the date of the deposit
 of the requisition duly proceed to convene a general meeting to be held within a further
 twenty-one (21) calendar days, the requisitionists, or any of them representing not less
 than one-tenth of the total voting rights of all of the requisitionists, on an one vote per
 share basis, which carry the right to vote at general meetings, may themselves convene a
 general meeting, but any meeting so convened shall not be held after the expiration of three
 (3) calendar months after the expiration of the said twenty-one (21) calendar days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A
 general meeting convened as aforesaid by requisitionists shall be convened in the same manner
 as nearly as possible as that in which general meetings are to be convened by Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The
 Directors may make Communication Facilities available for a specific general meeting or all
 general meetings of the Company so that Members and other participants may attend and participate
 at such general meetings by means of such Communication Facilities. Without limiting the
 generality of the foregoing, the Directors may determine that any general meeting may be
 held as a Virtual Meeting.

**NOTICE OF GENERAL MEETINGS**

70. An
 annual general meeting shall be called by not less than 21 days' notice in writing
 and any other general meeting (including an extraordinary general meeting) shall be called
 by not less than 14 days' notice in writing. Every notice shall be exclusive of the
 day on which it is given or deemed to be given and of the day for which it is given and shall
 specify the place (or, where such meeting shall be held as a Virtual Meeting, details of
 the Communication Facilities that will be used in accordance with Article 74), the day and
 the hour of the meeting and the general nature of the business and shall be given in the
 manner hereinafter mentioned or in such other manner if any as may be prescribed by the Company,
 provided that a general meeting of the Company shall, whether or not the notice specified
 in this Article has been given and whether or not the provisions of these Articles regarding
 general meetings have been complied with, be deemed to have been duly convened if it is so
 agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 the case of an annual general meeting, by all the Shareholders (or their proxies) entitled
 to attend and vote thereat; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of an extraordinary general meeting, by a majority of the Shareholders having a
 right to attend and vote at the meeting and Present at the meeting.

71. The
 accidental omission to give notice of a meeting to or the non-receipt of a notice of a meeting
 by any Shareholder shall not invalidate the proceedings at any meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

72. No
 business except for the appointment of a chairperson for the meeting shall be transacted
 at any general meeting unless a quorum of Shareholders is Present at the time when the meeting
 proceeds to business. One or more Shareholders holding Shares which carry in aggregate (or
 representing by proxy) not less than 10 per cent (10%) of all votes attaching to all Shares
 in issue and entitled to vote at such general meeting Present shall be a quorum for all purposes.

73. If
 within half an hour from the time appointed for the meeting a quorum is not Present, the
 meeting shall be dissolved.

74. If
 the Directors wish to make this facility available for a specific general meeting or all
 general meetings of the Company, Presence at the relevant general meeting of the Company
 may be by means of Communication Facilities. Without limiting the generality of the foregoing,
 the Directors may determine that any general meeting may be held as a Virtual Meeting. The
 notice of any general meeting at which Communication Facilities may be utilized (including
 any Virtual Meeting) must disclose the Communication Facilities that will be used, including
 the procedures to be followed by any Shareholder or other participant of the meeting who
 wishes to utilize such Communication Facilities for the purposes of attending and participating
 in such meeting, including attending and casting any vote thereat.

75. The
 Chairperson, if any, shall preside as chairperson at every general meeting of the Company.

76. If
 there is no such Chairperson, or if at any general meeting he or she is not Present within
 fifteen minutes after the time appointed for holding the meeting or is unwilling to act as
 chairperson of the meeting, any Director or Person nominated by the Directors Present at
 the meeting shall preside as chairperson of that meeting, failing which the Shareholders
 Present shall choose any Person Present to be chairperson of that meeting.

77. The
 chairperson of any general meeting (including any Virtual Meeting) shall be entitled to attend
 and participate at any such general meeting by means of Communication Facilities, and to
 act as the chairperson of such general meeting, in which event the following provisions shall
 apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 chairperson of the meeting shall be deemed to be Present at the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If
 the Communication Facilities are interrupted or fail for any reason to enable the chairperson
 of the meeting to hear and be heard by all other Persons participating in the meeting, then
 the other Directors Present at the meeting shall choose another Director Present to act as
 chairperson of the meeting for the remainder of the meeting; provided that if no other Director
 is Present at the meeting, or if all the Directors Present decline to take the chair, then
 the meeting shall be automatically adjourned to the same day in the next week and at such
 time and place as shall be decided by the Board of Directors.

78. The
 chairperson 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 the meeting from time to time
 and from place to place, but no business shall be transacted at any adjourned meeting other
 than the business left unfinished at the meeting from which the adjournment took place. When
 a meeting, or adjourned meeting, is adjourned for fourteen (14) calendar days or more, notice
 of the adjourned meeting shall be given as in the case of an original meeting. Save as aforesaid
 it shall not be necessary to give any notice of an adjournment or of the business to be transacted
 at an adjourned meeting.

79. The
 Directors may cancel or postpone any duly convened general meeting at any time prior to such
 meeting, except for general meetings requisitioned by the Shareholders in accordance with
 these Articles, for any reason. The Company shall issue an announcement to inform the Shareholders
 about the reason for postponing such general meeting. A postponement may be for a stated
 period of any length as the Directors may determine. The Directors shall fix the date, time
 and place (or, where such meeting shall be held as a Virtual Meeting, details of the Communication
 Facilities that will be used in accordance with Article 74) for the reconvened meeting and
 at least seven clear days' notice shall be given for the reconvened meeting in the
 manner specified in Article 166, and such notice shall specify the date, time and place (or,
 where such meeting shall be held as a Virtual Meeting, details of the Communication Facilities
 that will be used in accordance with Article 74) at which the postponed meeting will be reconvened,
 and the date and time by which proxies shall be submitted in order to be valid at such reconvened
 meeting (provided that any proxy submitted for the original meeting shall continue to be
 valid for the reconvened meeting unless revoked or replaced by a new proxy).

80. At
 any general meeting a resolution put to the vote of the meeting shall be decided on a poll
 save that the chairperson of the meeting may, in good faith, allow a resolution which relates
 purely to a procedural or administrative matter as prescribed under the Listing Rules to
 be voted on by a show of hands.

81. If
 a poll is duly demanded it shall be taken in such manner (including the use of ballot or
 voting papers or tickets or electronic means) as the chairperson of the meeting directs,
 and the result of the poll shall be deemed to be the resolution of the meeting at which the
 poll was demanded.

82. All
 questions submitted to a meeting shall be decided by an Ordinary Resolution except where
 a greater majority is required by these Articles or by the Companies Act. In the case of
 an equality of votes, whether on a show of hands or on a poll, the chairperson of the meeting
 at which the show of hands takes place or at which the poll is demanded, shall be entitled
 to a second or casting vote.

83. A
 poll demanded on the election of a chairperson of the meeting or on a question of adjournment
 shall be taken forthwith. A poll demanded on any other question shall be taken at such time
 as the chairperson of the meeting directs.

**VOTES OF SHAREHOLDERS**

84. Subject
 to any rights and restrictions for the time being attached to any Share, (a) every Shareholder
 Present shall, at a general meeting of the Company, have the right to speak; and (b) on a
 show of hands every Shareholder Present shall, at a general meeting of the Company, each
 have one vote and on a poll every Shareholder Present shall have one (1) vote for each Class
 B Ordinary Share and ten (10) votes for each Class A Ordinary Share of which he or she is
 the holder, except where the Shareholder is required, by the Listing Rules, to abstain from
 voting to approve the matter under consideration. On a poll a Shareholder entitled to more
 than one vote is under no obligation to cast all his or her votes in the same way. For the
 avoidance of doubt, where more than one proxy is appointed by any Shareholder, each such
 proxy is under no obligation to cast all his or her votes in the same way on a poll.

85. Notwithstanding
 any provisions in these Articles to the contrary, each Class A Ordinary Share and each Class
 B Ordinary Share shall entitle its holder to one vote on a poll at a general meeting in respect
 of a resolution on any of the following matters:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 amendment to the Memorandum or these Articles, including the variation of the rights attached
 to any Class of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 appointment, election or removal of any Independent Non-executive Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 appointment or removal of the Auditors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 voluntary liquidation or winding-up of the Company.

86. In
 the case of joint holders the vote of the senior who tenders a vote whether in person or
 by proxy (or, if a corporation or other non-natural person, by its duly authorized representative
 or proxy) shall be accepted to the exclusion of the votes of the other joint holders and
 for this purpose seniority shall be determined by the order in which the names stand in the
 Register.

87. Shares
 carrying the right to vote that are held by a Shareholder of unsound mind, or in respect
 of whom an order has been made by any court having jurisdiction in lunacy, may be voted,
 whether on a show of hands or on a poll, by his or her committee, or other Person in the
 nature of a committee appointed by that court, and any such committee or other Person may
 vote in respect of such Shares by proxy.

88. No
 Shareholder shall be entitled to vote at any general meeting of the Company unless all calls,
 if any, or other sums presently payable by him or her in respect of Shares carrying the right
 to vote held by him or her have been paid. Where 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.

89. A
 Shareholder entitled to attend and vote at a general meeting of the Company shall be entitled
 to appoint another person (who must be an individual) as their proxy to attend and vote instead
 of them and a proxy so appointed shall have the same right as the Shareholder to speak at
 the meeting. Votes may be given either personally or by proxy. The instrument appointing
 a proxy shall be in writing under the hand of the appointor or of his or her attorney duly
 authorized in writing or, if the appointor is a corporation, either under Seal or under the
 hand of an officer or attorney duly authorized. A proxy need not be a Shareholder. A Shareholder
 may appoint any number of proxies to attend in their stead at any one general meeting or
 at any one Class meeting.

90. On
 a poll or on a show of hands votes may be cast either personally or by proxy (or in the case
 of a corporation or other non-natural person by its duly authorized representative or proxy).
 A Member may appoint more than one proxy or the same proxy under one or more instruments
 to attend and vote at a meeting. Where a Member appoints more than one proxy the instrument
 of proxy shall state which proxy is entitled to vote on a show of hands and shall specify
 the number of Shares in respect of which each proxy is entitled to exercise the related votes.

91. An
 instrument appointing a proxy may be in any usual or common form or such other form as the
 Directors may approve.

92. The
 instrument appointing a proxy shall be deposited at the Registered Office or at such other
 place as is specified for that purpose in the notice convening the meeting, or in any instrument
 of proxy sent out by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not
 less than 48 hours before the time for holding the meeting or adjourned meeting at which
 the person named in the instrument proposes to vote; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of a poll taken more than 48 hours after it is demanded, be deposited as aforesaid
 after the poll has been demanded and not less than 24 hours before the time appointed for
 the taking of the poll; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 the poll is not taken forthwith but is taken not more than 48 hours after it was demanded
 be delivered at the meeting at which the poll was demanded to the chairperson of the meeting
 or to the secretary or to any Director;

provided that the Directors may in the notice convening the meeting, or in an instrument of proxy sent out by the Company, direct that the instrument appointing a proxy may be deposited at such other time (no later than the time for holding the meeting or adjourned meeting) at the Registered Office or at such other place as is specified for that purpose in the notice convening the meeting, or in any instrument of proxy sent out by the Company. The chairperson of the meeting may in any event at his or her discretion direct that an instrument of proxy shall be deemed to have been duly deposited. An instrument of proxy that is not deposited in the manner permitted shall be invalid.

93. The
 instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding
 a poll.

94. A
 resolution in writing signed by all the Shareholders for the time being entitled to receive
 notice of and to attend and vote at general meetings of the Company (or being corporations
 by their duly authorized representatives) shall be as valid and effective as if the same
 had been passed at a general meeting of the Company duly convened and held.

**CORPORATIONS ACTING BY REPRESENTATIVES AT MEETINGS**

95. Any
 corporation which is a Shareholder or a Director may by resolution of its directors or other
 governing body authorize such Person as it thinks fit to act as its representative at any
 meeting of the Company or of any meeting of holders of a Class or of the Directors or of
 a committee of Directors, and the Person so authorized shall be entitled to exercise the
 same powers on behalf of the corporation which he or she represents as that corporation could
 exercise if it were an individual Shareholder or Director.

**DEPOSITARY AND CLEARING HOUSES**

96. If
 a recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Member
 of the Company it may, by resolution of its directors or other governing body or by power
 of attorney, authorize such Person(s) as it thinks fit to act as its representative(s) at
 any general meeting of the Company or of any Class of Shareholders provided that, if more
 than one Person is so authorized, the authorization shall specify the number and Class of
 Shares in respect of which each such Person is so authorized. A Person so authorized pursuant
 to this Article shall be entitled to exercise the same powers on behalf of the recognized
 clearing house (or its nominee(s)) or depositary (or its nominee(s)) which he represents
 as that recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) could
 exercise if it were an individual Member holding the number and Class of Shares specified
 in such authorization, including the right to vote individually on a show of hands.

**DIRECTORS**

97. (a) Unless
 otherwise determined by the Company in general meeting, the number of Directors shall not
 be less than three (3) Directors, the exact number of Directors to be determined from time
 to time by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Board of Directors shall elect and appoint a Chairperson by a majority of the Directors then
 in office, and the period for which the Chairperson will hold office will also be determined
 by a majority of all of the Directors then in office. The Chairperson shall preside as chairperson
 at every meeting of the Board of Directors. To the extent the Chairperson is not present
 at a meeting of the Board of Directors within fifteen minutes after the time appointed for
 holding the same, the attending Directors may choose one of their number to be the chairperson
 of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Board may, by the affirmative vote of a simple majority of the Directors present and voting
 at a Board meeting, or the Company may by Ordinary Resolution appoint any person to be a
 Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) At
 every annual general meeting of the Company 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 every Independent Non-Executive Director and/or those appointed for a specific
 term) shall be subject to retirement by rotation at least once every three years. A retiring
 director shall retain office until the close of the meeting at which he or she retires and
 shall be eligible for re-election thereat.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 Board may, by the affirmative vote of a simple majority of the remaining Directors present
 and voting at a Board meeting, appoint any person as a Director, to fill a casual vacancy
 on the Board or as an addition to the existing Board. Any Director so appointed shall hold
 office only until the first annual general meeting of the Company after his or her appointment
 and shall then be eligible for re-election at that meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) An
 appointment of a Director may be on terms that the Director shall automatically retire from
 office (unless he or she has sooner vacated office) at the next or a subsequent annual general
 meeting or upon any specified event or after any specified period in a written agreement
 between the Company and the Director, if any; but no such term shall be implied in the absence
 of express provision. Any Director whose term of office expires shall be eligible for re-election
 at a meeting of the Shareholders or re-appointment by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) A
 Director (including a managing Director or other executive Director) may be removed (with
 or without cause) from office by Ordinary Resolution of the Company before the expiration
 of his or her term of office, notwithstanding anything in these Articles or in any agreement
 between the Company and such Director (but without prejudice to any claim for damages under
 such agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The
 notice of any meeting at which a resolution to remove a Director shall be proposed or voted
 upon must contain a statement of the intention to remove that Director and such notice must
 be served on that Director not less than ten (10) calendar days before the meeting. Such
 Director is entitled to attend the meeting and be heard on the motion for his or her removal.

 be filled by Ordinary Resolution or by the affirmative vote of a simple majority of the remaining
 Directors present and voting at a Board meeting.

98. Subject
 to these Articles, the Board may, from time to time, and except as required by applicable
 law or Designated Stock Exchange Rules, adopt, institute, amend, modify or revoke the corporate
 governance policies or initiatives of the Company and determine on various corporate governance
 related matters of the Company as the Board shall determine by resolution of Directors from
 time to time. For the avoidance of doubt, if any corporate governance policies or initiatives
 of the Company adopted by resolution of the Board are inconsistent with the provisions in
 Article 69 and Article 97, Article 69 and Article 97 shall prevail.

99. A
 Director shall not be required to hold any Shares in the Company by way of qualification.
 A Director who is not a Member of the Company shall nevertheless be entitled to attend and
 speak at general meetings.

100. The
 remuneration of the Directors may be determined by the Directors or by Ordinary Resolution.

101. The
 Directors shall be entitled to be paid for their travelling, hotel and other expenses properly
 incurred by them in going to, attending and returning from meetings of the Directors, or
 any committee of the Directors, or general meetings of the Company, or otherwise in connection
 with the business of the Company, or to receive such fixed allowance in respect thereof as
 may be determined by the Directors from time to time, or a combination partly of one such
 method and partly the other.

**INDEPENDENT NON-EXECUTIVE DIRECTORS**

102. The
 role of an Independent Non-executive Director shall include, but is not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) participating
 in meetings of Directors to bring an independent judgment to bear on the issues of strategy,
 policy, performance, accountability, resources, key appointments and standards of conduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) taking
 the lead where potential conflict of interests arise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) serving
 on the audit, remuneration, nomination and other governance committees, if invited; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) scrutinising
 the Company's performance in achieving agreed corporate goals and objectives, and monitoring
 performance reporting.

103. The
 Independent Non-executive Directors shall give the board of Directors and any committees
 on which they serve the benefit of their skills, expertise and varied backgrounds and qualifications
 through regular attendance and active participation. They should also attend general meetings
 and develop a balanced understanding of the view of the Members.

104. The
 Independent Non-executive Directors shall make a positive contribution to the development
 of the Company's strategy and policies through independent, constructive and informed
 comments.

**ALTERNATE DIRECTOR OR PROXY**

105. Any
 Director may in writing appoint another Person to be his or her alternate and, save to the
 extent provided otherwise in the form of appointment, such alternate shall have authority
 to sign written resolutions on behalf of the appointing Director, but shall not be required
 to sign such written resolutions where they have been signed by the appointing director,
 and to act in such Director's place at any meeting of the Directors at which the appointing
 Director is unable to be present. Every such alternate shall be entitled to attend and vote
 at meetings of the Directors as a Director when the Director appointing him or her is not
 personally present and where he or she is a Director to have a separate vote on behalf of
 the Director he or she is representing in addition to his or her own vote. A Director may
 at any time in writing revoke the appointment of an alternate appointed by him or her. Such
 alternate shall be deemed for all purposes to be a Director and shall not be deemed to be
 the agent of the Director appointing him or her. The remuneration of such alternate shall
 be payable out of the remuneration of the Director appointing him or her and the proportion
 thereof shall be agreed between them.

106. Any
 Director may appoint any Person, whether or not a Director, to be the proxy of that Director
 to attend and vote on his or her behalf, in accordance with instructions given by that Director,
 or in the absence of such instructions at the discretion of the proxy, at a meeting or meetings
 of the Directors which that Director is unable to attend personally. The instrument appointing
 the proxy shall be in writing under the hand of the appointing Director and shall be in any
 usual or common form or such other form as the Directors may approve, and must be lodged
 with the chairperson of the meeting of the Directors at which such proxy is to be used, or
 first used, prior to the commencement of the meeting.

**POWERS AND DUTIES OF DIRECTORS**

107. Subject
 to the Companies Act, these Articles and any resolutions passed in a general meeting, the
 business of the Company shall be managed by the Directors, who may pay all expenses incurred
 in setting up and registering the Company and may exercise all powers of the Company. No
 resolution passed by the Company in general meeting shall invalidate any prior act of the
 Directors that would have been valid if that resolution had not been passed.

108. Subject
 to these Articles, the Directors may from time to time appoint any natural person or corporation,
 whether or not a Director to hold such office in the Company as the Directors may think necessary
 for the administration of the Company, including but not limited to, chief executive officer,
 one or more other executive officers, president, one or more vice-presidents, treasurer,
 assistant treasurer, manager or controller, and for such term and at such remuneration (whether
 by way of salary or commission or participation in profits or partly in one way and partly
 in another), and with such powers and duties as the Directors may think fit. Any natural
 person or corporation so appointed by the Directors may be removed by the Directors. The
 Directors may also appoint one or more of their number to the office of managing director
 upon like terms, but any such appointment shall ipso facto terminate if any managing director
 ceases for any cause to be a Director, or if the Company by Ordinary Resolution resolves
 that his or her tenure of office be terminated.

109. The
 Directors may appoint any natural person or corporation to be a Secretary (and if need be
 an assistant Secretary or assistant Secretaries) who shall hold office for such term, at
 such remuneration and upon such conditions and with such powers as they think fit. Any Secretary
 or assistant Secretary so appointed by the Directors may be removed by the Directors or by
 the Company by Ordinary Resolution.

110. The
 Directors may delegate any of their powers to committees consisting of such member or members
 of their body as they think fit; any committee so formed shall in the exercise of the powers
 so delegated conform to any regulations that may be imposed on it by the Directors.

111. The
 Directors may from time to time and at any time by power of attorney (whether under Seal
 or under hand) or otherwise appoint any company, firm or Person or body of Persons, whether
 nominated directly or indirectly by the Directors, to be the attorney or attorneys or authorized
 signatory (any such Person being an "Attorney" or "Authorized Signatory",
 respectively) of the Company for such purposes and with such powers, authorities and discretion
 (not exceeding those vested in or exercisable by the Directors under these Articles) and
 for such period and subject to such conditions as they may think fit, and any such power
 of attorney or other appointment may contain such provisions for the protection and convenience
 of Persons dealing with any such Attorney or Authorized Signatory as the Directors may think
 fit, and may also authorize any such Attorney or Authorized Signatory to delegate all or
 any of the powers, authorities and discretion vested in him or her.

112. The
 Directors may from time to time provide for the management of the affairs of the Company
 in such manner as they shall think fit and the provisions contained in the three next following
 Articles shall not limit the general powers conferred by this Article.

113. The
 Directors from time to time and at any time may establish any committees, local boards or
 agencies for managing any of the affairs of the Company and may appoint any natural person
 or corporation to be a member of such committees or local boards and may appoint any managers
 or agents of the Company and may fix the remuneration of any such natural person or corporation.

114. The
 Directors from time to time and at any time may delegate to any such committee, local board,
 manager or agent any of the powers, authorities and discretions for the time being vested
 in the Directors and may authorize the members for the time being of any such local board,
 or any of them to fill any vacancies therein and to act notwithstanding vacancies and any
 such appointment or delegation may be made on such terms and subject to such conditions as
 the Directors may think fit and the Directors may at any time remove any natural person or
 corporation 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.

115. Any
 such delegates as aforesaid may be authorized by the Directors to sub-delegate all or any
 of the powers, authorities, and discretion for the time being vested in them.

**NOMINATION COMMITTEE**

116. The
 Directors shall establish a Nomination Committee, which shall perform the following duties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) review
 the structure, size and composition (including the skills, knowledge and experience) of the
 board of Directors at least annually and make recommendations on any proposed changes to
 the Directors to complement the Company's corporate strategy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) identify
 individuals suitably qualified to become Directors and select or make recommendations to
 the Directors on the selection of individuals nominated for directorships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) assess
 the independence of Independent Non-executive Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) make
 recommendations to the Directors on the appointment or re-appointment of Directors and succession
 planning for Directors, in particular the Chairperson and the chief executive officer of
 the Company.

117. The
 Nomination Committee shall comprise a majority of Independent Non-executive Directors, and
 the chairperson of the Nomination Committee shall be an Independent Non-executive Director.

118. The
 Nomination Committee shall make available its terms of reference explaining its role and
 authority delegated to it by the Directors by publishing them on the Exchange's website
 and the Company's Website.

119. The
 Company shall provide the Nomination Committee sufficient resources to perform its duties.
 Where necessary, the Nomination Committee shall seek independent professional advice, at
 the Company's expense to perform its responsibilities.

120. Where
 the Directors propose a resolution to elect an individual as an Independent Non-executive
 Director at a general meeting, the circular to the Members and/or explanatory statement accompanying
 the notice of the relevant general meeting shall set out:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 process used for identifying the individual and why the Directors believe such individual
 should be elected and the reasons why the Directors consider such individual to be independent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the proposed individual will be holding their seventh (or more) listed company directorship,
 why the Directors believe such individual would still be able to devote sufficient time to
 the board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 perspectives, skills and experience that the individual can bring to the board of Directors;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) how
 the individual contributions to the diversity of the board of Directors.

**CORPORATE GOVERNANCE COMMITTEE**

121. The
 Directors shall establish a Corporate Governance Committee, with at least the terms of reference
 set out in rule 8A.30 of the Listing Rules and code provision A.2.1 in Part 2 of Appendix
 C1 to the Listing Rules, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) develop
 and review the Company's policies and practices on corporate governance and make recommendations
 to the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) review
 and monitor the training and continuous professional development of Directors and senior
 management;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) review
 and monitor the Company's policies and practices on compliance with legal and regulatory
 requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) develop,
 review and monitor the code of conduct and compliance manual (if any) applicable to employees
 and Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) review
 the Company's compliance with the Corporate Governance Code set out in the Listing
 Rules and disclosure in the Corporate Governance Report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) review
 and monitor whether the Company is operated and managed for the benefit of all of its Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) confirm,
 on an annual basis, that each holder of Class A Ordinary Shares (or where a holder is a Co-Founder
 Holding Vehicle, the person holding and controlling such vehicle) has been a Director throughout
 the year and that none of the events set out in Article 14 have occurred during the relevant
 financial year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) confirm,
 on an annual basis, that each holder of Class A Ordinary Shares (or where a holder is a Co-Founder
 Holding Vehicle, a Co-Founder) has complied with Articles 14, 19, 20 and 85 throughout the
 year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) review
 and monitor the management of conflicts of interests and make a recommendation to the Directors
 on any matter where there is a potential conflict of interest between the Company, a subsidiary
 of the Company and/or holders of Class A Ordinary Shares (considered as a group) on the one
 hand, and any holder of Class B Ordinary Shares on the other;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) review
 and monitor all risks related to the Company's weighted voting rights structure, including
 connected transactions between the Company and/or a subsidiary of the Company on the one
 hand, and any holder of Class A Ordinary Shares on the other, and make a recommendation to
 the Directors on any such transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) make
 a recommendation to the Directors as to the appointment or removal of the Compliance Adviser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) seek
 to ensure effective and on-going communication between the Company and its Members, particularly
 with regards to the requirements of Article 175;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) report
 on the work of the Corporate Governance Committee on at least a half-yearly and annual basis
 covering all areas of this Article 121; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) disclose,
 on a comply or explain basis, its recommendations to the Directors in respect of matters
 in Articles 121(i) to (k) in the report referred to in Article 121(m).

122. The
 Corporate Governance Committee shall comprise entirely of Independent Non-executive Directors,
 one of whom shall act its chairperson.

123. The
 Corporate Governance Report produced by the Company pursuant to the Listing Rules shall include
 a summary of the work of the Corporate Governance Committee, with regards to its duties set
 out in Article 121, for the accounting period covered by both the half-yearly and annual
 report and disclose any significant subsequent events for the period up to the date of publication
 of the half-yearly and annual report, to the extent possible.

**COMPLIANCE ADVISER**

124. The
 Company shall appoint a Compliance Adviser on a permanent basis. The Directors shall consult
 with and, if necessary, seek advice from the Compliance Adviser, on a timely and on-going
 basis, in the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) before
 the publication of any regulatory announcement, circular or financial report by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 a transaction, which might be a notifiable or connected transaction (as defined in the Listing
 Rules), is contemplated by the Company including share issues and share repurchases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 the Company proposes to use the proceeds of its initial public offering in a manner different
 from that detailed in the listing document in respect of such initial public offering, or
 where the business activities, developments or results of the Company deviate from any forecast,
 estimate or other information set out in such listing document; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where
 the Exchange makes an inquiry of the Company under the Listing Rules.

125. The
 Directors shall also consult with, and if necessary, seek advice from the Compliance Adviser,
 on a timely and on-going basis, on any matter related to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 weighted voting rights structure of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) transactions
 in which holders of Class A Ordinary Shares have an interest; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 there is a potential conflict of interest between the Company, a subsidiary of the Company
 and/or holders of Class A Ordinary Shares (considered as a group) on the one hand, and any
 holder of Class B Ordinary Shares on the other.

**BORROWING POWERS OF DIRECTORS**

126. The
 Directors may from time to time at their discretion exercise all the powers of the Company
 to raise or borrow money and to mortgage or charge its undertaking, property and assets (present
 and future) and uncalled capital or any part thereof, to issue debentures, debenture stock,
 bonds and other securities, whether outright or as collateral security for any debt, liability
 or obligation of the Company or of any third party.

**THE SEAL**

127. The
 Seal shall not be affixed to any instrument except by the authority of a resolution of the
 Directors provided always that such authority may be given prior to or after the affixing
 of the Seal and if given after may be in general form confirming a number of affixings of
 the Seal. The Seal shall be affixed in the presence of a Director or a Secretary (or an assistant
 Secretary) or in the presence of any one or more Persons as the Directors may appoint for
 the purpose and every Person as aforesaid shall sign every instrument to which the Seal is
 so affixed in their presence.

128. The
 Company may maintain a facsimile of the Seal in such countries or places as the Directors
 may appoint and such facsimile Seal shall not be affixed to any instrument except by the
 authority of a resolution of the Directors provided always that such authority may be given
 prior to or after the affixing of such facsimile Seal and if given after may be in general
 form confirming a number of affixings of such facsimile Seal. The facsimile Seal shall be
 affixed in the presence of such Person or Persons as the Directors shall for this purpose
 appoint and such Person or Persons as aforesaid shall sign every instrument to which the
 facsimile Seal is so affixed in their presence and such affixing of the facsimile Seal and
 signing as aforesaid shall have the same meaning and effect as if the Seal had been affixed
 in the presence of and the instrument signed by a Director or a Secretary (or an assistant
 Secretary) or in the presence of any one or more Persons as the Directors may appoint for
 the purpose.

129. Notwithstanding
 the foregoing, a Secretary or any assistant Secretary shall have the authority to affix the
 Seal, or the facsimile Seal, to any instrument for the purposes of attesting authenticity
 of the matter contained therein but which does not create any obligation binding on the Company.

**DISQUALIFICATION OF DIRECTORS**

130. The
 office of Director shall be vacated, if the Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) becomes
 bankrupt or makes any arrangement or composition with his or her creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) dies
 or is found to be or becomes of unsound mind;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) resigns
 his or her office by notice in writing to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) without
 special leave of absence from the Board, is absent from meetings of the Board for three (3)
 consecutive meetings and the Board resolves that his office be vacated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) is
 removed from office pursuant to any other provision of these Articles.

**PROCEEDINGS OF DIRECTORS**

131. The
 Directors may meet together (either within or outside the Cayman Islands) for the dispatch
 of business, adjourn, and otherwise regulate their meetings and proceedings as they think
 fit. Questions arising at any meeting shall be decided by a majority of votes. At any meeting
 of the Directors, each Director present in person or represented by his or her proxy or alternate
 shall be entitled to one vote. In case of an equality of votes the Chairperson shall have
 a second or casting vote. A Director may, and a Secretary or assistant Secretary on the requisition
 of a Director shall, at any time summon a meeting of the Directors.

132. A
 Director may participate in any meeting of the Directors, or of any committee appointed by
 the Directors of which such Director is a member, by means of telephone or similar communication
 equipment by way of which all Persons participating in such meeting can communicate with
 each other and such participation shall be deemed to constitute presence in person at the
 meeting.

133. The
 quorum necessary for the transaction of the business of the Board may be fixed by the Directors,
 and unless so fixed, the quorum shall be a majority of Directors then in office, including
 the Chairperson; provided, however, a quorum shall nevertheless exist at a meeting at which
 a quorum would exist but for the fact that the Chairperson is voluntarily absent from the
 meeting and notifies the Board of his decision to be absent from that meeting, before or
 at the meeting. A Director represented by proxy or by an alternate Director at any meeting
 shall be deemed to be present for the purposes of determining whether or not a quorum is
 present.

134. A
 Director who is in any way, whether directly or indirectly, interested in a contract or transaction
 or proposed contract or transaction with the Company shall declare the nature of his or her
 interest at a meeting of the Directors. A general notice given to the Directors by any Director
 to the effect that he or she is a member of any specified company or firm and is to be regarded
 as interested in any contract or transaction which may thereafter be made with that company
 or firm shall be deemed a sufficient declaration of interest in regard to any contract so
 made or transaction so consummated. Subject to the Designated Stock Exchange Rules and disqualification
 by the chairperson of the relevant Board meeting, a Director may vote in respect of any contract
 or transaction or proposed contract or transaction notwithstanding that he or she may be
 interested therein and if he or she does so his or her vote shall be counted and he or she
 may be counted in the quorum at any meeting of the Directors at which any such contract or
 transaction or proposed contract or transaction shall come before the meeting for consideration.

135. A
 Director may hold any other office or place of profit under the Company (other than the office
 of Auditor) in conjunction with his or her office of Director for such period and on such
 terms (as to remuneration and otherwise) as the Directors may determine and no Director or
 intending Director shall be disqualified by his or her office from contracting with the Company
 either with regard to his or her tenure of any such other office or place of profit or as
 vendor, purchaser or otherwise, nor shall any such contract or arrangement entered into by
 or on behalf of the Company in which any Director is in any way interested be liable to be
 avoided, nor shall any Director so contracting or being so interested be liable to account
 to the Company for any profit realized by any such contract or arrangement by reason of such
 Director holding that office or of the fiduciary relation thereby established. A Director,
 notwithstanding his or her interest, may be counted in the quorum present at any meeting
 of the Directors whereat he or she or any other Director is appointed to hold any such office
 or place of profit under the Company or whereat the terms of any such appointment are arranged
 and he or she may vote on any such appointment or arrangement.

136. Any
 Director may act by himself or herself or through his or her firm in a professional capacity
 for the Company, and he or she or his or her firm shall be entitled to remuneration for professional
 services as if he or she were not a Director; provided that nothing herein contained shall
 authorize a Director or his or her firm to act as Auditor to the Company.

137. The
 Directors shall cause minutes to be made for the purpose of recording:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of the Directors present at each meeting of the Directors and of any committee of the
 Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all
 resolutions and proceedings at all meetings of the Company, and of the Directors and of committees
 of Directors.

138. When
 the chairperson of a meeting of the Directors signs the minutes of such meeting the same
 shall be deemed to have been duly held notwithstanding that all the Directors have not actually
 come together or that there may have been a technical defect in the proceedings.

139. A
 resolution in writing signed by all the Directors or all the members of a committee of Directors
 entitled to receive notice of a meeting of Directors or committee of Directors, as the case
 may be (an alternate Director, subject as provided otherwise in the terms of appointment
 of the alternate Director, being entitled to sign such a resolution on behalf of his or her
 appointer), shall be as valid and effectual as if it had been passed at a duly called and
 constituted meeting of Directors or committee of Directors, as the case may be. When signed
 a resolution may consist of several documents each signed by one or more of the Directors
 or his or her duly appointed alternate.

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

141. Subject
 to any regulations imposed on it by the Directors, a committee appointed by the Directors
 may elect a chairperson of its meetings. If no such chairperson is elected, or if at any
 meeting the chairperson is not present within fifteen minutes after the time appointed for
 holding the meeting, the committee members present may choose one of their members to be
 chairperson of the meeting.

142. A
 committee appointed by the Directors may meet and adjourn as it thinks proper. Subject to
 any regulations imposed on it by the Directors, questions arising at any meeting shall be
 determined by a majority of votes of the committee members present and in case of an equality
 of votes the chairperson shall have a second or casting vote.

143. All
 acts done by any meeting of the Directors or of a committee of Directors, or by any Person
 acting as a Director, shall notwithstanding that it be afterwards discovered that there was
 some defect in the appointment of any such Director or Person 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.

**PRESUMPTION OF ASSENT**

144. A
 Director who is present at a meeting of the Board of Directors at which an action on any
 Company matter is taken shall be presumed to have assented to the action taken unless his
 or her dissent shall be entered in the minutes of the meeting or unless he or she shall file
 his or her written dissent from such action with the person acting as the chairperson or
 secretary of the meeting before the adjournment thereof or shall forward such dissent by
 registered post to such person immediately after the adjournment of the meeting. Such right
 to dissent shall not apply to a Director who voted in favor of such action.

**DIVIDENDS**

145. Subject
 to any rights and restrictions for the time being attached to any Shares, the Directors may
 from time to time declare dividends (including interim dividends) and other distributions
 on Shares in issue and authorize payment of the same out of the funds of the Company lawfully
 available therefor.

146. Subject
 to any rights and restrictions for the time being attached to any Shares, the Company by
 Ordinary Resolution may declare dividends, but no dividend shall exceed the amount recommended
 by the Directors.

147. The
 Directors may, before recommending or declaring any dividend, set aside out of the funds
 legally available for distribution such sums as they think proper as a reserve or reserves
 which shall, in the absolute discretion of the Directors, be applicable for meeting contingencies
 or for equalizing dividends or for any other purpose to which those funds may be properly
 applied, and pending such application may in the absolute discretion of the Directors, either
 be employed in the business of the Company or be invested in such investments (other than
 Shares of the Company) as the Directors may from time to time think fit.

148. Any
 dividend payable in cash to the holder of Shares may be paid in any manner determined by
 the Directors. If paid by cheque it will be sent by mail addressed to the holder at his or
 her address in the Register, or addressed to such person and at such addresses as the holder
 may direct. Every such cheque or warrant shall, unless the holder or joint holders otherwise
 direct, be made payable to the order of the holder or, in the case of joint holders, to the
 order of the holder whose name stands first on the Register in respect of such Shares, and
 shall be sent at his or her or their risk and payment of the cheque or warrant by the bank
 on which it is drawn shall constitute a good discharge to the Company.

149. The
 Directors may determine that a dividend shall be paid wholly or partly by the distribution
 of specific assets (which may consist of the shares or securities of any other company) and
 may settle all questions concerning such distribution. Without limiting the generality of
 the foregoing, the Directors may fix the value of such specific assets, may determine that
 cash payment shall be made to some Shareholders in lieu of specific assets and may vest any
 such specific assets in trustees on such terms as the Directors think fit.

150. Subject
 to any rights and restrictions for the time being attached to any Shares, all dividends shall
 be declared and paid according to the amounts paid up on the Shares, but if and for so long
 as nothing is paid up on any of the Shares dividends may be declared and paid according to
 the par value of the Shares. No amount paid on a Share in advance of calls shall, while carrying
 interest, be treated for the purposes of this Article as paid on the Share.

151. If
 several Persons are registered as joint holders of any Share, any of them may give effective
 receipts for any dividend or other moneys payable on or in respect of the Share.

152. No
 dividend shall bear interest against the Company.

153. Any
 dividend unclaimed after a period of six calendar years from the date of declaration of such
 dividend may be forfeited by the Board of Directors and, if so forfeited, shall revert to
 the Company.

**ACCOUNTS, AUDIT AND ANNUAL RETURN AND DECLARATION**

154. The
 books of account relating to the Company's affairs shall be kept in such manner as
 may be determined from time to time by the Directors.

155. The
 books of account shall be kept at the Registered Office, or at such other place or places
 as the Directors think fit, and shall always be open to the inspection of the Directors.

156. The
 Directors may from time to time determine whether and to what extent and at what times and
 places and under what conditions or regulations the accounts and books of the Company or
 any of them shall be open to the inspection of Shareholders not being Directors, and no Shareholder
 (not being a Director) shall have any right to inspect any account or book or document of
 the Company except as conferred by law or authorized by the Directors or by Ordinary Resolution.

157. The
 accounts relating to the Company's affairs shall be audited in such manner and with
 such financial year end as may be determined from time to time by the Directors or failing
 any determination as aforesaid shall not be audited.

158. The
 Company shall at every annual general meeting by Ordinary Resolution appoint an Auditor who
 shall hold office until the next annual general meeting of the Company. The Company may by
 Ordinary Resolution remove an Auditor before the expiration of such Auditor's term
 of office. No person may be appointed as an Auditor unless such person is independent of
 the Company. The remuneration of the Auditors shall be fixed by the Company at the annual
 general meeting at which they are appointed by Ordinary Resolution, or in the manner specified
 in such resolution.

159. Every
 Auditor 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 and explanation as may be necessary for the performance of the duties of
 the Auditors.

160. The
 Auditors shall, if so required by the Directors, make a report on the accounts of the Company
 during their tenure of office at the next annual general meeting following their appointment,
 and at any time during their term of office, upon request of the Directors or any general
 meeting of the Members.

161. The
 Directors in each calendar year shall prepare, or cause to be prepared, an annual return
 and declaration setting forth the particulars required by the Companies Act and deliver a
 copy thereof to the Registrar of Companies in the Cayman Islands.

**CAPITALIZATION OF RESERVES**

162. Subject
 to the Companies Act, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve
 to capitalize an amount standing to the credit of reserves (including a Share Premium Account,
 capital redemption reserve and profit and loss account), which is available for distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) appropriate
 the sum resolved to be capitalized to the Shareholders in proportion to the nominal amount
 of Shares (whether or not fully paid) held by them respectively and apply that sum on their
 behalf in or towards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) paying
 up the amounts (if any) for the time being unpaid on Shares held by them respectively, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) paying
 up in full unissued Shares or debentures of a nominal amount equal to that sum,

and allot the Shares or debentures, credited as fully paid, to the Shareholders (or as they may direct) in those proportions, or partly in one way and partly in the other, but the Share Premium Account, the capital redemption reserve and profits which are not available for distribution may, for the purposes of this Article, only be applied in paying up unissued Shares to be allotted to Shareholders credited as fully paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 any arrangements they think fit to resolve a difficulty arising in the distribution of a
 capitalized reserve and in particular, without limitation, where Shares or debentures become
 distributable in fractions the Directors may deal with the fractions as they think fit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) authorize
 a Person to enter (on behalf of all the Shareholders concerned) into an agreement with the
 Company providing for either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures
 to which they may be entitled on the capitalization, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 payment by the Company on behalf of the Shareholders (by the application of their respective
 proportions of the reserves resolved to be capitalized) of the amounts or part of the amounts
 remaining unpaid on their existing Shares,

and any such agreement made under this authority being effective and binding on all those Shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) generally
 do all acts and things required to give effect to the resolution.

163. Notwithstanding
 any provisions in these Articles and subject to the Companies Act, the Directors may resolve
 to capitalize an amount standing to the credit of reserves (including the share premium account,
 capital redemption reserve and profit and loss account) or otherwise available for distribution
 by applying such sum in paying up in full unissued Shares to be allotted and issued to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) employees
 (including Directors) or service providers of the Company or its Affiliates upon exercise
 or vesting of any options or awards granted under any share incentive scheme or employee
 benefit scheme or other arrangement which relates to such persons that has been adopted or
 approved by the Directors or the Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 trustee of any trust or administrator of any share incentive scheme or employee benefit scheme
 to whom Shares are to be allotted and issued by the Company in connection with the operation
 of any share incentive scheme or employee benefit scheme or other arrangement which relates
 to such persons that has been adopted or approved by the Directors or Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 depositary of the Company for the purposes of the issue, allotment and delivery by the depositary
 of ADSs to employees (including Directors) or service providers of the Company or its Affiliates
 upon exercise or vesting of any options or awards granted under any share incentive scheme
 or employee benefit scheme or other arrangement which relates to such persons that has been
 adopted or approved by the Directors or the Members.

**SHARE PREMIUM ACCOUNT**

164. The
 Directors shall in accordance with the Companies Act establish a Share Premium Account and
 shall carry to the credit of such account from time to time a sum equal to the amount or
 value of the premium paid on the issue of any Share.

165. There
 shall be debited to any Share Premium Account on the redemption or purchase of a Share the
 difference between the nominal value of such Share and the redemption or purchase price provided
 always that at the discretion of the Directors such sum may be paid out of the profits of
 the Company or, if permitted by the Companies Act, out of capital.

**NOTICES**

166. Except
 as otherwise provided in these Articles, any notice or document, including any Corporate
 Communication, may be served by the Company or by the Person entitled to give notice to any
 Shareholder in any of the following manner to the extent permitted by, and in compliance
 with the requirement of, the Listing Rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) personally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 posting it by airmail or a recognized courier service in a prepaid letter addressed to such
 Shareholder at his or her address as appearing in the Register;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by
 electronic mail to any electronic mail address such Shareholder may have specified in writing
 for the purpose of such service of notices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by
 facsimile to any facsimile number such Shareholder may have specified in writing for the
 purpose of such service of notices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) by
 placing it on the Company's Website and the Designated Stock Exchange's website
 shall be deemed to be served at such time as may be prescribed by the Listing Rules; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (in
 the case of notice) by advertisement published in the manner prescribed in the Listing Rules.

In the 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 in respect of the joint holding, and notice so given shall be sufficient notice to all the joint holders.

167. Notices
 sent from one country to another shall be sent or forwarded by prepaid airmail or a recognized
 courier service.

168. Any
 Shareholder Present, either personally or by proxy, at any meeting of the Company shall for
 all purposes be deemed to have received due notice of such meeting and, where requisite,
 of the purposes for which such meeting was convened.

169. Any
 notice or other document, including any Corporate Communication, if served by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) post,
 shall be deemed to have been served five (5) calendar days after the time when the letter
 containing the same is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) facsimile,
 shall be deemed to have been served upon production by the transmitting facsimile machine
 of a report confirming transmission of the facsimile in full to the facsimile number of the
 recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) recognized
 courier service, shall be deemed to have been served 48 hours after the time when the letter
 containing the same is delivered to the courier service; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) electronic
 means, shall be deemed to have been served immediately (i) upon the time of the transmission
 to the electronic mail address supplied by the Shareholder to the Company or (ii) upon the
 time of its placement on the Company's Website and the Designated Stock Exchange's
 website as may be prescribed by the Listing Rules.

In proving service by post or courier service it shall be sufficient to prove that the letter containing the notice or documents was properly addressed and duly posted or delivered to the courier service.

170. Any
 notice or document delivered or sent by post to or left at the registered address of any
 Shareholder in accordance with the terms of these Articles shall notwithstanding that such
 Shareholder be then dead or bankrupt, and whether or not the Company has notice of his or
 her death or bankruptcy, be deemed to have been duly served in respect of any Share registered
 in the name of such Shareholder as sole or joint holder, unless his or her name shall at
 the time of the service of the notice or document have been removed from the Register as
 the holder of the Share, and such service shall for all purposes be deemed a sufficient service
 of such notice or document on all Persons interested (whether jointly with or as claiming
 through or under him or her) in the Share.

171. Notice
 of every general meeting of the Company shall be given to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Shareholders holding Shares with the right to receive notice and who have supplied to the
 Company an address for the giving of notices to them; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) every
 Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who
 but for his or her death or bankruptcy would be entitled to receive notice of the meeting.

No other Person shall be entitled to receive notices of general meetings.

**INFORMATION**

172. Subject
 to the relevant laws, rules and regulations applicable to the Company, no Member shall be
 entitled to require discovery of any information in respect of any detail of the Company's
 trading or any information which is or may be in the nature of a trade secret or secret process
 which may relate to the conduct of the business of the Company and which in the opinion of
 the Board would not be in the interests of the Members of the Company to communicate to the
 public.

173. Subject
 to due compliance with the relevant laws, rules and regulations applicable to the Company,
 the Board shall be entitled to release or disclose any information in its possession, custody
 or control regarding the Company or its affairs to any of its Members including, without
 limitation, information contained in the Register and transfer books of the Company.

174. Notwithstanding
 any provisions in these Articles to the contrary, any Register held in Hong Kong shall during
 normal business hours (subject to such reasonable restrictions as the Board may impose) be
 open to inspection by a Shareholder without charge and any other person on payment of a fee
 of such amount not exceeding the maximum amount as may from time to time be permitted under
 the Listing Rules as the Board may determine for each inspection, provided that the Company
 may be permitted to close the register in terms equivalent to section 632 of the Companies
 Ordinance.

**COMMUNICATION WITH MEMBERS AND DISCLOSURE**

175. The
 Company shall comply with the provisions of Appendix C1 to the Listing Rules regarding communication
 with the Members of the Company.

176. The
 Company shall include the words "A company controlled through weighted voting rights"
 or such language as may be specified by the Exchange from time to time on the front page
 of all its listing documents, periodic financial reports, circulars, notifications and announcements
 required by the Listing Rules, and describe its weighted voting rights structure, the rationale
 of such structure and the associated risks for the Members prominently in its listing documents
 and periodic financial reports. This statement shall inform prospective investors of the
 potential risks of investing in the Company and that they should make the decision to invest
 only after due and careful consideration.

177. The
 Company shall, in its listing documents and its interim and annual reports:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) identify
 the holders of Class A Ordinary Shares (and, where a holder is a Co-Founder Holding Vehicle,
 a Co-Founder holding and Controlling such vehicle);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) disclose
 the impact of a potential conversion of Class A Ordinary Shares into Class B Ordinary Shares
 on its share capital; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) disclose
 all circumstances in which the weighted voting rights attached to the Class A Ordinary Shares
 will cease.

**INDEMNITY**

178. Every
 Director (including for the purposes of this Article any alternate Director appointed pursuant
 to the provisions of these Articles), Secretary, assistant Secretary, or other officer for
 the time being and from time to time of the Company (but not including the Company's
 Auditors) and the personal representatives of the same (each an "Indemnified Person")
 shall be indemnified and secured harmless against all actions, proceedings, costs, charges,
 expenses, losses, damages or liabilities incurred or sustained by such Indemnified Person,
 other than by reason of such Indemnified Person's own dishonesty, willful default or
 fraud, in or about the conduct of the Company's business or affairs (including as a
 result of any mistake of judgment) or in the execution or discharge of his or her duties,
 powers, authorities or discretions, including without prejudice to the generality of the
 foregoing, any costs, expenses, losses or liabilities incurred by such Indemnified Person
 in defending (whether successfully or otherwise) any civil proceedings concerning the Company
 or its affairs in any court whether in the Cayman Islands or elsewhere.

179. No
 Indemnified Person shall be liable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for
 the acts, receipts, neglects, defaults or omissions of any other Director or officer or agent
 of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 any loss on account of defect of title to any property of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) on
 account of the insufficiency of any security in or upon which any money of the Company shall
 be invested; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) for
 any loss incurred through any bank, broker or other similar Person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) for
 any loss occasioned by any negligence, default, breach of duty, breach of trust, error of
 judgement or oversight on such Indemnified Person's part; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) for
 any loss, damage or misfortune whatsoever which may happen in or arise from the execution
 or discharge of the duties, powers, authorities, or discretions of such Indemnified Person's
 office or in relation thereto;

unless the same shall happen through such Indemnified Person's own dishonesty, willful default or fraud.

**FINANCIAL YEAR**

180. Unless
 the Directors otherwise prescribe, the financial year of the Company shall end on December
 31<sup>st</sup> in each calendar year and shall begin on January 1st in each calendar year.

**NON-RECOGNITION OF TRUSTS**

181. No
 Person shall be recognized by the Company as holding any Share upon any trust and the Company
 shall not, unless required by law, be bound by or be compelled in any way to recognize (even
 when having notice thereof) any equitable, contingent, future or partial interest in any
 Share or (except only as otherwise provided by these Articles or as the Companies Act requires)
 any other right in respect of any Share except an absolute right to the entirety thereof
 in each Shareholder registered in the Register.

**WINDING UP**

182. Subject
 to the Companies Act, the Company may by Special Resolution resolve that the Company be wound
 up voluntarily.

183. If
 the Company shall be wound up the liquidator may, with the sanction of a Special Resolution
 of the Company and any other sanction required by the Companies Act, divide amongst the Members
 in species or in kind the whole or any part of the assets of the Company (whether they shall
 consist of property of the same kind or not) and may for that purpose value any assets and
 determine how the division shall be carried out as between the Members or different Classes
 of Members. The liquidator may, with the like sanction, vest the whole or any part of such
 assets in trustees upon such trusts for the benefit of the Members as the liquidator, with
 the like sanction, shall think fit, but so that no Member shall be compelled to accept any
 asset upon which there is a liability.

184. If
 the Company shall be wound up, and the assets available for distribution amongst the Members
 shall be insufficient to repay the whole of the share capital, such assets shall be distributed
 so that, as nearly as may be, the losses shall be borne by the Members in proportion to the
 par value of the Shares held by them. If in a winding up the assets available for distribution
 amongst the Members shall be more than sufficient to repay the whole of the share capital
 at the commencement of the winding up, the surplus shall be distributed amongst the Members
 in proportion to the par value of the Shares held by them at the commencement of the winding
 up subject to a deduction from those Shares in respect of which there are monies due, of
 all monies payable to the Company for unpaid calls or otherwise. This Article is without
 prejudice to the rights of the holders of Shares issued upon special terms and conditions.

**AMENDMENT OF ARTICLES OF ASSOCIATION**

185. Subject
 to the Companies Act, the Company may at any time and from time to time by Special Resolution
 alter or amend these Articles in whole or in part.

**CLOSING OF REGISTER OR FIXING RECORD DATE**

186. For
 the purpose of determining those Shareholders that are entitled to receive notice of, attend
 or vote at any meeting of Shareholders or any adjournment thereof, or those Shareholders
 that are entitled to receive payment of any dividend, or in order to make a determination
 as to who is a Shareholder for any other purpose, the Directors may provide that the Register
 shall be closed for transfers for a stated period which shall not exceed in any case thirty
 (30) calendar days in any calendar year.

187. In
 lieu of or apart from closing the Register, the Directors may fix in advance a date as the
 record date for any such determination of those Shareholders that are entitled to receive
 notice of, attend or vote at a meeting of the Shareholders and for the purpose of determining
 those Shareholders that are entitled to receive payment of any dividend the Directors may,
 at or within ninety (90) calendar days prior to the date of declaration of such dividend,
 fix a subsequent date as the record date for such determination.

188. If
 the Register is not so closed and no record date is fixed for the determination of those
 Shareholders entitled to receive notice of, attend or vote at a meeting of Shareholders or
 those Shareholders that are entitled to receive payment of a dividend, the date on which
 notice of the meeting is posted or the date on which the resolution of the Directors declaring
 such dividend is adopted, as the case may be, shall be the record date for such determination
 of Shareholders. When a determination of those Shareholders that are entitled to receive
 notice of, attend or vote at a meeting of Shareholders has been made as provided in this
 Article, such determination shall apply to any adjournment thereof.

**REGISTRATION BY WAY OF CONTINUATION**

189. The
 Company may by Special Resolution resolve to be registered by way of continuation in a jurisdiction
 outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
 registered or existing. In furtherance of a resolution adopted pursuant to this Article,
 the Directors may cause an application to be made to the Registrar of Companies to deregister
 the Company in the Cayman Islands or such other jurisdiction in which it is for the time
 being incorporated, registered or existing and may cause all such further steps as they consider
 appropriate to be taken to effect the transfer by way of continuation of the Company.

**DISCLOSURE**

190. The
 Directors, or any service providers (including the officers, the Secretary and the registered
 office provider of the Company) specifically authorized by the Directors, shall be entitled
 to disclose to any regulatory or judicial authority or to any stock exchange on which securities
 of the Company may from time to time be listed any information regarding the affairs of the
 Company including without limitation information contained in the Register and books of the
 Company.

**EXCLUSIVE FORUM**

191. For
 the avoidance of doubt and without limiting the jurisdiction of the courts of the Cayman
 Islands and the courts of Hong Kong to hear, settle and/or determine disputes related to
 the Company, the courts of the Cayman Islands and the courts of Hong Kong shall, to the exclusion
 of other jurisdictions, be the forum for (i) any derivative action or proceeding brought
 on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty
 owed by any Director, officer, or other employee of the Company to the Company or the Members,
 (iii) any action asserting a claim arising pursuant to any provision of the Companies Act
 or these Articles including but not limited to any purchase or acquisition of Shares, security,
 or guarantee provided in consideration thereof, or (iv) any action asserting a claim against
 the Company which if brought in the United States of America would be a claim arising under
 the internal affairs doctrine (as such concept is recognized under the laws of the United
 States from time to time).

192. Unless
 the Company consents in writing to the selection of an alternative forum, the United States
 District Court for the Southern District of New York (or, if the United States District Court
 for the Southern District of New York lacks subject matter jurisdiction over a particular
 dispute, the state courts in New York County, New York) shall be the exclusive forum within
 the United States for the resolution of any complaint asserting a cause of action arising
 out of or relating in any way to the federal securities laws of the United States, regardless
 of whether such legal suit, action, or proceeding also involves parties other than the Company.
 Any person or entity purchasing or otherwise acquiring any Share or other securities in the
 Company, or purchasing or otherwise acquiring ADSs issued pursuant to deposit agreements,
 shall be deemed to have notice of and consented to the provisions of this Article. Without
 prejudice to the foregoing, if the provision in this Article is held to be illegal, invalid
 or unenforceable under applicable law, the legality, validity or enforceability of the rest
 of these Articles shall not be affected and this Article shall be interpreted and construed
 to the maximum extent possible to apply in the relevant jurisdiction with whatever modification
 or deletion may be necessary so as best to give effect to the intention of the Company.

## Exhibit 99.1

**Exhibit 99.1**

**Hesai Group Announces Results of** **Extraordinary General Meeting, Class A Meeting and Class B Meeting**

SHANGHAI, March 3, 2026 (GLOBE NEWSWIRE) -- Hesai Group ("Hesai" or the "Company") (NASDAQ: HSAI; HKEX: 2525), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced that each of the proposed resolutions submitted for shareholders' approval (the "Proposed Resolutions") as set forth in the notice of extraordinary general meeting, notice of Class A meeting and notice of Class B meeting, each dated January 26, 2026, Hong Kong time, have been adopted at the meetings held in Suzhou, China today.

After the adoption of the Proposed Resolutions, all corporate authorizations and actions contemplated thereunder are approved, including, among other things, that (i) 50,000,000 authorized, unissued and un-designated shares are re-designated as Class B ordinary shares on a one-for-one basis; (ii) the Company's existing memorandum and articles of associations are amended and restated by their deletion in their entirety and by the substitution in their place of the third amended and restated memorandum and articles of association in the form as set out in Part A of Appendix I to the circular of the Company dated January 26, 2026, Hong Kong time; (iii) the directors of the Company are granted a general unconditional mandate to allot, issue and deal with additional Class B ordinary shares or equivalents; and (iv) the directors of the Company are granted a general unconditional mandate to repurchase the Company's own shares and/or American depositary shares, respectively, on the terms and in the periods as set out in the notice of extraordinary general meeting.

**About Hesai**

Hesai Technology (Nasdaq: HSAI; HKEX: 2525) is a global leader in lidar solutions. The Company's lidar products enable a broad spectrum of applications including passenger and commercial vehicles ("ADAS"), as well as autonomous driving vehicles and robotics and other non-automotive applications such as last-mile delivery robots and AGVs ("Robotics"). Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The Company's commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning more than 40 countries.

**Safe Harbor Statement**

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

**For investor and media inquiries, please contact:**

Hesai Group

Capital Markets Department

Email: ir@hesaitech.com

Christensen Advisory

Tel: +86-10-5900-1548

Email: hesai@christensencomms.com

Source: Hesai Group

## Exhibit 99.2

**Exhibit 99.2**

*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.*

![](tm267531d1_ex99-2img001.jpg)

**Hesai Group**

**禾賽科技\***

*(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)*

**(Stock Code: 2525)**

**(NASDAQ Stock Ticker: HSAI)**

**POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING AND CLASS MEETINGS HELD ON MARCH 3, 2026**

References are made to the Notice of the Extraordinary General Meeting (the "**EGM**"), the Notice of Class A Meeting (the "**Class A Meeting**") and the Notice of Class B Meeting (the "**Class B Meeting**", together with the Class A Meeting, the "**Class Meetings**") each dated January 26, 2026 (collectively, the "**Notices**") and the circular to the holders of Company's Shares (the "**Shareholders**") of even date (the "**Circular**") of Hesai Group (the "**Company**"). Unless otherwise required by the context, capitalized terms used in this announcement shall have the same meanings as defined in the Circular and the Notices.

**POLL RESULTS OF THE EGM AND THE CLASS MEETINGS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Poll results of the EGM** 

The board of directors (the "**Board**") of the Company is pleased to announce that the EGM was held shortly after the conclusion of the Class B Meeting, on March 3, 2026 at No. 28, Ciyun Road, Yancheng Lake Peninsula, Weiting Town, Suzhou Industrial Park, Jiangsu Province, People's Republic of China.

All resolutions proposed at the EGM have been duly passed. As of the Shares Record Date, the total number of issued Shares was 157,142,211 Shares, comprising 26,998,861 Class A Ordinary Shares and 130,143,350 Class B Ordinary Shares, which was the total number of Shares entitling Shareholders to attend and vote in favour of, against or in abstention on the resolutions proposed at the EGM. There was no Shareholder who was required to abstain from voting under the Listing Rules on any resolution proposed at the EGM, nor any Shareholder who was entitled to attend the EGM but was required to abstain from voting in favour of any resolution proposed at the EGM pursuant to Rule 13.40 of the Listing Rules. No Shareholder has indicated in the Circular that he or she intends to vote against or in abstention in respect of any resolution proposed at the EGM.

Accordingly, the total number of Shares entitling the holder to attend and vote on the resolutions numbered 1 to 6 proposed at the EGM was 157,142,211 Shares, comprising 26,998,861 Class A Ordinary Shares and 130,143,350 Class B Ordinary Shares. As at the date of this announcement, there were (i) no treasury shares held by the Company (including any treasury shares held or deposited with CCASS), and (ii) no repurchased Shares which are pending cancellation and should be excluded from the total number of issued Shares for the purpose of the EGM.

Treasury shares, if any, registered under the name of the Company, shall have no voting rights at the general meeting(s) of the Company. For the avoidance of doubt, for the purpose of the Listing Rules, the Company shall, upon depositing any treasury shares in the CCASS, abstain from voting at any of its general meeting(s) in relation to those shares.

According to the Company's second amended and restated memorandum and articles of association (the "**Memorandum and Articles of Association**") and the Undertaking for Interim Compliance, with regard to the resolutions numbered 1 to 6, each Class A Ordinary Share shall entitle its holder to ten votes and each Class B Ordinary Share shall entitle its holder to one vote on a poll at the EGM.

In accordance with the provisions of the Listing Rules, voting on the resolutions proposed at the EGM was conducted by way of poll. The voting results in respect of the resolutions proposed at the EGM are set out as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **FOR** | **AGAINST** | **ABSTAIN<sup>2</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| 1. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part A of Appendix I to the Circular), subject to the passing of the Class-based Resolution at the Class A Meeting and Class B Meeting, and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | Class A Ordinary Shares | 269,988,610 <br> (100.0000%) | 0<br> (0.0000%) | 0<br> (-) | 26998861 | 269988610<br>|
| 1. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part A of Appendix I to the Circular), subject to the passing of the Class-based Resolution at the Class A Meeting and Class B Meeting, and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | Class B Ordinary Shares | 98,455,258<br> (99.6825%) | 313,614<br> (0.3175%) | 240634<br> (-) | 98768872 | 98768872 |
| 1. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part A of Appendix I to the Circular), subject to the passing of the Class-based Resolution at the Class A Meeting and Class B Meeting, and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | TOTAL NUMBER (CLASS A & CLASS B) | 368,443,868<br> (99.9150%) | 313,614<br> (0.0850%) | 240634<br> (-) | 125767733 | 368757482 |
|  | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as a special resolution with over two-thirds of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **SPECIAL RESOLUTIONS** | **FOR** | **AGAINST** | **ABSTAIN<sup>2</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| 2. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part B of Appendix I to the Circular) (to take effect if the Class-based Resolution is not passed at either the Class A Meeting or the Class B Meeting), and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | Class A Ordinary Shares | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. |
| 2. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part B of Appendix I to the Circular) (to take effect if the Class-based Resolution is not passed at either the Class A Meeting or the Class B Meeting), and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | Class B Ordinary Shares | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. |
| 2. | To approve the proposed amendments and restatement of the Memorandum and Articles of Association by substituting them with the Amended Articles (as set out in Part B of Appendix I to the Circular) (to take effect if the Class-based Resolution is not passed at either the Class A Meeting or the Class B Meeting), and to authorize the Board to deal with all related filings and amendments (where necessary) procedures. | TOTAL NUMBER (CLASS A & CLASS B) | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. | Not applicable as the Class-based Resolution was passed at both the Class A Meeting and the Class B Meeting. |
| <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | **FOR** | **AGAINST** | **ABSTAIN<sup>2</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| 3. | To approve the re-designation of 50,000,000 authorized but unissued and un-designated shares into Class B Ordinary Shares on a one-for-one basis. | Class A Ordinary Shares | &nbsp;&nbsp; 269,988,610<br> (100.0000%) | 0<br> (0.0000%) | 0<br> (-) | 26998861 | 269988610<br>|
| 3. | To approve the re-designation of 50,000,000 authorized but unissued and un-designated shares into Class B Ordinary Shares on a one-for-one basis. | Class B Ordinary Shares | &nbsp;&nbsp; 98,228,415<br> (99.4003%) | 592,581<br> (0.5997%) | 188510<br> (-) | 98820996 | 98820996 |
| 3. | To approve the re-designation of 50,000,000 authorized but unissued and un-designated shares into Class B Ordinary Shares on a one-for-one basis. | TOTAL NUMBER (CLASS A & CLASS B) | &nbsp;&nbsp; 368,217,025<br> (99.8393%) | 592,581<br> (0.1607%) | 188510<br> (-) | 125819857 | 368809606 |
|  | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | <br> **NUMBER OF VOTES CAST AND PERCENTAGE (%)<sup>1</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | <br> **ORDINARY RESOLUTIONS** | **FOR** | **AGAINST** | **ABSTAIN<sup>2</sup>** | **TOTAL NUMBER OF VOTING SHARES** | **TOTAL NUMBER OF VOTES CAST** |
| 4. | To grant a general mandate to the Directors to allot, issue and deal with additional Class B Ordinary Shares in the Company not exceeding 20% of the total number of issued shares of the company (excluding treasury shares). | Class A Ordinary Shares | 269,988,610<br> (100.0000%) | &nbsp;&nbsp;&nbsp; 0<br> (0.0000%) | 0<br> (-) | 26998861 | 269988610<br>|
| 4. | To grant a general mandate to the Directors to allot, issue and deal with additional Class B Ordinary Shares in the Company not exceeding 20% of the total number of issued shares of the company (excluding treasury shares). | Class B Ordinary Shares | &nbsp;&nbsp; 66,020,248<br> (66.8003%) | 32,812,053<br> (33.1997%) | 177205<br> (-) | 98832301 | 98832301 |
| 4. | To grant a general mandate to the Directors to allot, issue and deal with additional Class B Ordinary Shares in the Company not exceeding 20% of the total number of issued shares of the company (excluding treasury shares). | TOTAL NUMBER (CLASS A & CLASS B) | &nbsp;&nbsp; 336,008,858<br> (91.1035%) | &nbsp;&nbsp;&nbsp; 32,812,053<br> (8.8965%) | 177205<br> (-) | 125831162 | 368820911 |
| 4. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. |
| 5. | To grant a repurchase mandate to the Directors to repurchase Class B Ordinary Shares in the Company not exceeding 10% of the total number of issued shares of the Company (excluding treasury shares). | Class A Ordinary Shares | 269,988,610<br> (100.0000%) | 0<br> (0.0000%) | 0<br> (-) | 26998861 | 269988610<br>|
| 5. | To grant a repurchase mandate to the Directors to repurchase Class B Ordinary Shares in the Company not exceeding 10% of the total number of issued shares of the Company (excluding treasury shares). | Class B Ordinary Shares | 98,034,644<br> (99.1914%) | 799,200<br> (0.8086%) | 175662<br> (-) | 98833844 | 98833844 |
| 5. | To grant a repurchase mandate to the Directors to repurchase Class B Ordinary Shares in the Company not exceeding 10% of the total number of issued shares of the Company (excluding treasury shares). | TOTAL NUMBER (CLASS A & CLASS B) | 368,023,254<br> (99.7833%) | 799,200<br> (0.2167%) | 175662<br> (-) | 125832705 | 368822454 |
| 5. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. |
| 6. | To extend the general mandate granted to the Directors to allot, issue and deal with Class B Ordinary Shares by the number of Class B Ordinary Shares repurchased by the Company. | Class A Ordinary Shares | &nbsp;&nbsp; 269,988,610<br> (100.0000%) | 0<br> (0.0000%) | 0<br> (-) | 26998861 | 269988610<br>|
| 6. | To extend the general mandate granted to the Directors to allot, issue and deal with Class B Ordinary Shares by the number of Class B Ordinary Shares repurchased by the Company. | Class B Ordinary Shares | &nbsp;&nbsp; 67,004,482<br> (67.7969%) | 31,826,760<br> (32.2031%) | 178264<br> (-) | 98831242 | 98831242 |
| 6. | To extend the general mandate granted to the Directors to allot, issue and deal with Class B Ordinary Shares by the number of Class B Ordinary Shares repurchased by the Company. | TOTAL NUMBER (CLASS A & CLASS B) | &nbsp;&nbsp; 336,993,092<br> (91.3706%) | 31,826,760<br> (8.6294%) | 178264<br> (-) | 125830103 | 368819852 |
| 6. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the EGM cast in favour thereof. |

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<sup>1</sup> Any discrepancy in sums of percentage figures listed therein are due to rounding.

<sup>2</sup> According to the laws of the Cayman Islands, the Shares in abstention shall not be counted as votes cast at the EGM.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Poll results of the Class A Meeting** 

The Board is pleased to announce that the Class A Meeting was held at 1:30 p.m., Beijing time, on March 3, 2026 at No. 28, Ciyun Road, Yancheng Lake Peninsula, Weiting Town, Suzhou Industrial Park, Jiangsu Province, People's Republic of China. The resolution proposed at the Class A Meeting has been duly passed.

As of the Shares Record Date, the Company had a total of 26,998,861 Class A Ordinary Shares in issue, which was the total number of Shares entitled to vote on the resolution proposed at the Class A Meeting. There was no Shareholder who was required to abstain from voting under the Listing Rules on the resolution proposed at the Class A Meeting, nor any Shareholder who was entitled to attend the Class A Meeting but was required to abstain from voting in favour of the resolution proposed at the Class A Meeting pursuant to Rule 13.40 of the Listing Rules. No person has indicated in the Circular that he or she intends to vote against or in abstention in respect of the resolution proposed at the Class A Meeting.

Shareholders and Shareholders' proxies attending the Class A Meeting held a total of 26,998,861 Class A Ordinary Shares, representing 100.0000% of the total number of Class A Ordinary Shares carrying voting rights.

The voting results in respect of the resolution proposed at the Class A Meeting are set out as below:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **ORDINARY RESOLUTION** | <br> **ORDINARY RESOLUTION** | **FOR** | **FOR** | **AGAINST** | **AGAINST** | **ABSTAIN<sup>1</sup>** | **ABSTAIN<sup>1</sup>** |
| <br> **ORDINARY RESOLUTION** | <br> **ORDINARY RESOLUTION** | **NUMBER OF <br> SHARES** | **PERCENTAGE<br> (%)** | **NUMBER OF <br> SHARES** | **PERCENTAGE <br> (%)** | **NUMBER OF <br> SHARES** | **PERCENTAGE <br> (%)** |
| 1. | To consider and approve the Class-Based Resolution to amend and restate the Memorandum and Articles. | 26998861 | 100.0000% | 0 | 0.0000% | 0 | (-) |
|  | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class A Meeting cast in favour thereof . |

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<sup>1</sup> According to the laws of the Cayman Islands, the Shares in abstention shall not be counted as votes cast at the Class A Meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Poll results of the Class B Meeting** 

The Board is pleased to announce that the Class B Meeting was held shortly after the conclusion of the Class A Meeting, on March 3, 2026 at No. 28, Ciyun Road, Yancheng Lake Peninsula, Weiting Town, Suzhou Industrial Park, Jiangsu Province, People's Republic of China. The resolution proposed at the Class B Meeting has been duly passed.

As of the Shares Record Date, the Company had a total of 130,143,350 Class B Ordinary Shares in issue, which was the total number of Shares entitled to vote on the resolution proposed at the Class B Meeting. There was no Shareholder who was required to abstain from voting under the Listing Rules on the resolution proposed at the Class B Meeting, nor any Shareholder who was entitled to attend the Class B Meeting but was required to abstain from voting in favour of the resolution proposed at the Class B Meeting pursuant to Rule 13.40 of the Listing Rules. No person has indicated in the Circular that he or she intends to vote against or in abstention in respect of the resolution proposed at the Class B Meeting.

Shareholders and Shareholders' proxies attending the Class B Meeting held a total of 94,727,468 Class B Ordinary Shares, representing approximately 72.7870% of the total number of Class B Ordinary Shares in the Company carrying voting rights.

The voting results in respect of the resolution proposed at the Class B Meeting are set out as below:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **ORDINARY RESOLUTION** | <br> **ORDINARY RESOLUTION** | **FOR** | **FOR** | **AGAINST** | **AGAINST** | **ABSTAIN1** | **ABSTAIN1** |
| <br> **ORDINARY RESOLUTION** | <br> **ORDINARY RESOLUTION** | &nbsp;&nbsp;**NUMBER OF SHARES** | **PERCENTAGE (%)** | &nbsp;&nbsp;**NUMBER OF SHARES** | **PERCENTAGE (%)** | &nbsp;&nbsp;**NUMBER OF SHARES** | **PERCENTAGE (%)** |
| 1. | To consider and approve the Class-Based Resolution to amend and restate the Memorandum and Articles. | &nbsp;&nbsp;&nbsp;&nbsp;94414784 | 99.6699% | 312684 | &nbsp;&nbsp;&nbsp;&nbsp;0.3301% | 237137 | (-) |
|  | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof | The resolution has been duly passed as an ordinary resolution with a simple majority of valid votes held by Shareholders (including proxies) attending the Class B Meeting cast in favour thereof |

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<sup>1</sup> According to the laws of the Cayman Islands, the Shares in abstention shall not be counted as votes cast at the Class B Meeting.

The Company's share registrar in Hong Kong, Tricor Investor Services Limited, acted as the scrutineer for the vote-taking at the EGM and the Class Meetings.

The following Directors attended the EGM and the Class Meetings in person or via electronic means: Dr. Yifan Li and Ms. Cailian Yang. The other Directors were unable to attend the EGM and Class Meetings due to other business commitments.

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| |
|:---|
| By order of the Board |
| **Hesai Group** |
| **Dr. Yifan Li** |
| Chairman of the Board, Executive Director and Chief Executive Officer |

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Hong Kong, March 3, 2026

*As at the date of this announcement, the Board comprises: (i) Dr. Yifan Li, Dr. Kai Sun, Mr. Shaoqing Xiang and Ms. Cailian Yang as the executive Directors; and (ii) Ms. Yi Zhang, Mr. Jia Ren and Dr. Hui Wang as the independent non-executive Directors.*

*\* For identification purpose only*