# EDGAR Filing Document

**Accession Number:** 0001825875
**File Stem:** 0001185185-26-002521
**Filing Date:** 2026-6
**Character Count:** 255463
**Document Hash:** 4903f6b01256693b1bfd06b72f9589cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-26-002521.hdr.sgml**: 20260616

**ACCESSION NUMBER**: 0001185185-26-002521

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260616

**FILED AS OF DATE**: 20260616

**DATE AS OF CHANGE**: 20260616

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Erayak Power Solution Group Inc.
- **CENTRAL INDEX KEY:** 0001825875
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTORS & GENERATORS [3621]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41568
- **FILM NUMBER:** 261092855

**BUSINESS ADDRESS:**
- **STREET 1:** NO.528, 4TH AVENUE
- **STREET 2:** BINHAI INDUSTRIAL PARK
- **CITY:** WENZHOU, ZHEJIANG
- **STATE:** F4
- **ZIP:** 325025
- **BUSINESS PHONE:** 86-577-86829999

**MAIL ADDRESS:**
- **STREET 1:** NO.528, 4TH AVENUE
- **STREET 2:** BINHAI INDUSTRIAL PARK
- **CITY:** WENZHOU, ZHEJIANG
- **STATE:** F4
- **ZIP:** 325025

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION** **<br> Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16<br> UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of June 2026**

**Commission File Number: 001-41568**

**ERAYAK Power Solution Group Inc.**

**No. 528, 4<sup>th</sup> Avenue<br> Binhai Industrial Park<br> Wenzhou, Zhejiang Province<br> People's Republic of China 325025<br> +86-577-86829999<br> (Address, including zip code, and telephone number, including area code, of Registrant's 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 ☐

**INFORMATION CONTAINED IN THIS FORM 6-K REPORT**

In connection with the extraordinary general meeting of shareholders of ERAYAK Power Solution Group Inc. (the "Company"), attached hereto and incorporated by reference herein are Notice of Extraordinary General Meeting and Proxy Statement and Form of Proxy Card.

EXHIBIT INDEX

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| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [Notice of Extraordinary General Meeting and Proxy Statement](rayaex99-1.htm) |
| 99.2 | [Form of Proxy Card](rayaex99-2.htm) |
| 99.3 | [Sixth Amended and Restated Memorandum and Articles of Association](rayaex99-3.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.

---

| | | |
|:---|:---|:---|
|  | **ERAYAK Power Solution Group Inc.** | **ERAYAK Power Solution Group Inc.** |
| Date: June 16, 2026 | By: | */s/ Lingyi Kong* |
|  | Name: | Lingyi Kong |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**ERAYAK Power Solution Group Inc.**

No. 528, 4<sup>th</sup> Avenue<br> Binhai Industrial Park<br> Wenzhou, Zhejiang Province<br> People's Republic of China 325025

**PROXY STATEMENT AND NOTICE OF<br> EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON JULY 9, 2026**

June 16, 2026

Dear Shareholder:

Notice is hereby given that an extraordinary general meeting of shareholders (the "**Meeting**" or "**EGM**")) of ERAYAK Power Solution Group Inc., a Cayman Islands exempted company (the "**Company**"), to be held on July 9, 2026, at 11:00 a.m., Beijing Time (July 8, 2026, at 11:00 p.m. Eastern Time), at No. 528, 4<sup>th</sup> Avenue, Binhai Industrial Park, Wenzhou, Zhejiang Province, People's Republic of China 325025, for the following purposes:

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| | |
|:---|:---|
| Proposal One | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By a special resolution, subject to all requirements prescribed by sections 14, 14A and 14B of the Companies Act (Revised) of the Cayman Islands (the "**Companies Act**") relating to share capital reductions being complied with (together, the "**Share Capital Reduction and Reorganization**"), to approve:<br>*Share Capital Reduction*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the par value of each issued and outstanding class A ordinary share of par value of US$0.22 and each issued and outstanding class B ordinary share of par value of US$0.22 in the share capital of the Company be reduced to US$0.00001 by cancelling US$0.21999 of the paid-up capital on each of the issued and outstanding class A ordinary share of par value of US$0.22 and class B ordinary share of par value of US$0.22 (the "**Share Capital Reduction**");<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. following the Share Capital Reduction, the amount deemed to be paid up on each issued and outstanding share of the Company shall be US$0.00001;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. the credit arising from the Share Capital Reduction be transferred to a distributable reserve account of the Company which may be utilised by the Company as the board of directors of the Company (the "**Board**") may deem fit and as permitted under the Companies Act, the Company's memorandum and articles of association, and all relevant applicable laws, including, without limitation, eliminating or setting off any accumulated losses of the Company (if any) from time to time;<br>*Share Capital Subdivision*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. immediately following the Share Capital Reduction:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. each authorized but unissued class A ordinary share of par value of US$0.22 be subdivided into 22,000 class A ordinary shares of par value of US$0.00001 each; and<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. each authorized but unissued class B ordinary share of par value of US$0.22 be subdivided into 22,000 class B ordinary shares of par value of US$0.00001 each,<br>(the "**Subdivision**");<br>*Share Capital Cancellation*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. immediately following the Subdivision, the authorized share capital of the Company be altered by the cancellation of such number of excess authorized but unissued class A ordinary shares of par value of US$0.00001 each and authorized but unissued class B ordinary shares of par value of US$0.00001 each as will result in the Company having authorized share capital of US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each (the "**Cancellation**"); and<br>*Authorized Share Capital Confirmation*<br>consequent upon the Share Capital Reduction, the Subdivision and the Cancellation, the authorized share capital of the Company shall be changed from US$220,000,000 divided into 1,000,000,000 ordinary shares of par value of US$0.22 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.22 each and (b) 100,000,000 class B ordinary shares of par value of US$0.22 each to US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each. |

---

---

| | |
|:---|:---|
| Proposal Two | By an ordinary resolution, with effect immediately following the effectiveness of the Share Capital Reduction and Reorganization, to increase the Company's authorized share capital<br>From: US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each,<br>To: US$50,000 divided into 5,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 4,500,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 500,000,000 class B ordinary shares of par value of US$0.00001 each,<br>by the creation of (i) 3,600,000,000 class A ordinary shares of par value of US$0.00001 each, and (ii) 400,000,000 class B ordinary shares of par value of US$0.00001 each (the "**Share Capital Increase**"). |
| Proposal Three | By a special resolution, subject to and immediately following the effectiveness of the Share Capital Reduction and Reorganization and the Share Capital Increase:<br>(1) to amend and restate the currently effective memorandum and articles of association of the Company by their deletion in their entirety and the substitution in their place with the sixth amended and restated memorandum and articles of association, in the form attached to the proxy statement as Exhibit A (the "**Sixth Amended and Restated Memorandum and Articles of Association**"), which incorporate amendments including the Share Capital Reduction and Reorganization and the Share Capital Increase, and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase; and<br>(2) to authorize the Company's registered office provider to make any necessary filing with the Registrar of Companies in the Cayman Islands in connection with the adoption of the Sixth Amended and Restated Memorandum and Articles of Association and authorize the Board to take all further actions and execute all further documents as may be necessary or advisable to carry out the intent of these resolutions.<br>(the "**Adoption of Sixth Amended and Restated Memorandum and Articles of Association**") |
| Proposal Four | By an ordinary resolution, to adjourn the Meeting for any purpose, including to solicit additional proxies if there are insufficient votes at the time of the Meeting to approve the proposals described above (the "**Adjournment Proposal**"). |

---

Holders of record of our class A ordinary shares of par value of US$0.22 each and class B ordinary shares of par value of US$0.22 each at the close of business on June 11, 2026 (the "**Record Date**") are entitled to attend and vote at the Meeting. The Board urges shareholders to vote "FOR" Proposal One, Proposal Two, Proposal Three, and Proposal Four.

A proxy statement describing the matters to be considered at the Meeting is attached to this Notice.

This notice, proxy statement, and form of proxy card are being distributed and made available on or about June 22, 2026.

Your vote is important. Whether or not you plan to attend the Meeting, I hope that you will vote as soon as possible. You may vote your shares by either completing, signing and returning the accompanying proxy card or casting your vote over the Internet.

---

| |
|:---|
| By Order of the Board of Directors, <br>Sincerely, |
| /s/ *Lingyi Kong* |
| Lingyi Kong |
| Chief Executive Officer |

---

**ERAYAK Power Solution Group Inc.**

No. 528, 4<sup>th</sup> Avenue<br> Binhai Industrial Park<br> Wenzhou, Zhejiang Province

**PROXY STATEMENT**

The board of directors (the "Board") of ERAYAK Power Solution Group Inc., a Cayman Islands exempted company (the "**Company**" or "**we**"), is furnishing this Proxy Statement and the accompanying proxy card to you to solicit your proxy for an extraordinary general meeting of shareholders of the Company (the "**Meeting**" or "**EGM**"). The Meeting will be held on July 9, 2026, at 11:00 a.m., Beijing Time (July 8, 2026, at 11:00 p.m. Eastern Time), at No. 528, 4<sup>th</sup> Avenue, Binhai Industrial Park, Wenzhou, Zhejiang Province, People's Republic of China 325025.

**QUESTIONS AND ANSWERS ABOUT THE MEETING**

***What is this proxy statement?***

You have received this proxy statement because our Board is soliciting your proxy to vote your shares at the Meeting. This proxy statement includes information that we are required to provide to you under the rules of the U.S. Securities and Exchange Commission ("SEC") and that is designed to assist you in voting your shares.

***What is the purpose of the Meeting?***

At the Meeting, our shareholders will act upon the matters described in this proxy statement.

These matters include 1) the Share Capital Reduction and Reorganization, 2) the Share Capital Increase, 3) the Adoption of the Sixth Amended and Restated Memorandum and Articles of Association, 4) the Adjournment Proposal, if necessary.

***What are the Board's recommendations?***

Our Board recommends that you vote:

● FOR the Share Capital Reduction and Reorganization;

● FOR the Share Capital Increase;

● FOR the Adoption of the Sixth Amended and Restated Memorandum and Articles of Association;

● FOR the Adjournment Proposal, if necessary.

***Who is entitled to attend and vote at the Meeting?***

Only shareholders of record at the close of business on June 11, 2026, which we refer to as the Record Date, are entitled to receive notice of, and to attend and vote at, the Meeting. As of the Record Date, there were 1,005,618 class A ordinary shares of par value of US$0.22 each (the "Class A Ordinary Shares") and 49,092 class B ordinary shares of par value of US$0.22 each (the "Class B Ordinary Shares", and, together with Class A Ordinary Shares, the "Ordinary Shares") issued and outstanding. Each Class A Ordinary Share shall entitle the holder thereof to one (1) vote on all matters subject to vote at the Meeting, and each Class B Ordinary Share shall entitle the holder thereof to twenty (20) votes on all matters subject to vote at the Meeting.

***What is the difference between holding shares as a shareholder of record and as a beneficial owner?***

*Shareholder of Record*. If your shares are registered directly in your name with our transfer agent, Vstock Transfer, LLC, you are considered, with respect to those shares, the "shareholder of record." This proxy statement has been sent directly to you by us.

*Beneficial Owner*. If your shares are held in a stock brokerage account or by a bank or other nominee, you are considered the "beneficial owner" of shares held in street name. This proxy statement has been forwarded to you by your broker, bank or nominee who is considered, with respect to those shares, the shareholder of record. As the beneficial owner, you have the right to direct your broker, bank or nominee how to vote your shares by using the voting instructions included with your proxy materials.

***How do I vote my shares?***

Shareholders will not be able to vote through the Live EGM Webcast on the Proposals to be tabled for approval at the Meeting. Shareholders who wish to exercise their votes must submit a Proxy Form to appoint the Chairman of the Meeting to cast votes on their behalf. If you are a shareholder of record, meaning that you hold your shares in certificate form, you have the following voting options:

**To vote by Internet**

1) Visit *www.proxyvote.com* or scan the QR code on your voting card.

**To vote by Telephone**

1) Call the telephone number on your voting card or email.

**To vote by Mail**

1) Check the appropriate boxes on the voting instruction form

2) Sign, date, and return your voting card in the enclosed envelope.

If you vote via the internet, your electronic vote authorizes the named proxies in the same manner as if you signed, dated, and returned your proxy card. **If you vote via the internet, do not return your proxy card**.

If you hold your shares through an account with a bank or broker, your ability to vote by the Internet depends on their voting procedures. Please follow the directions that your bank or broker provides.

Please note that the latest we will accept voting is on July 9, 2026, at 11:59 A.M., Beijing Time (July 8, 2026, at 11:59 P.M., Eastern Time).

If you vote by proxy, the individuals named on the proxy card (your "proxies") will vote your shares in the manner you indicate. You may specify how your shares should be voted for each of the proposals. If you grant a proxy without indicating your voting instructions, your shares will be voted as follows:

**●** **FOR the Share Capital Reduction and Reorganization;** 

**●** **FOR the Share Capital Increase;** 

**●** **FOR the Adoption of the Sixth Amended and Restated Memorandum and Articles of Association;** 

**●** **FOR the Adjournment Proposal, if necessary.** 

***What constitutes a quorum?***

According to the Company's currently effective memorandum and articles of association, one or more shareholders holding shares of the Company which carry in aggregate (or representing by proxy) not less than one-third of all votes attaching to all shares of the Company in issue and entitled to vote at such general meeting present shall be a quorum for all purposes.

***What is a broker "non-vote" and what is its effect on voting?***

If you are a beneficial owner of shares held in street name and do not provide the organization that holds your shares with specific voting instructions, under the rules of various national and regional securities exchanges, the organization that holds your shares may generally vote on routine matters but cannot vote on non-routine matters. If the organization that holds your shares does not receive instructions from you on how to vote your shares on a non-routine matter, the organization that holds your shares does not have the authority to vote on the matter with respect to those shares. This is generally referred to as a "broker non-vote."

***What is required to approve each item?***

● Proposal One shall be passed by way of a special resolution, being the affirmative vote of not less than two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting.

● Proposal Two shall be passed by way of an ordinary resolution, being the affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting (in computing the majority regard shall be had to the number of votes to which each shareholder is entitled).

● Proposal Three shall be passed by way of a special resolution, being the affirmative vote of not less than two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting.

● Proposal Four shall be passed by way of an ordinary resolution, being the affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting (in computing the majority regard shall be had to the number of votes to which each shareholder is entitled).

For the purpose of determining whether the shareholders have approved Proposal One, Proposal Two, and Proposal Three for the Meeting, abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of these Proposals. Abstentions will be counted for purposes of determining whether there is a quorum present.

For the purpose of determining whether the shareholders have approved Proposal Four for the Meeting, abstentions, if any, will not be counted as votes cast and will not affect the outcome of this Proposal, although they will be counted for purposes of determining whether there is a quorum present. If shareholders hold their shares through a broker, bank or other nominee and do not instruct them how to vote, the broker may have authority to vote the shares for Proposal Four, which is considered a routine matter.

***How will Ordinary Shares represented by properly executed proxies be voted?***

All Ordinary Shares represented by proper proxies will, unless such proxies have previously been revoked, be voted in accordance with the instructions indicated in such proxies. If you do not provide voting instructions, your Ordinary Shares will be voted in accordance with the Board's recommendations as set forth herein.

***Can I change my vote or revoke my proxy?***

Any shareholder executing a proxy has the power to revoke such proxy at any time prior to its exercise. You may revoke your proxy prior to exercise by:

● filing with us a written notice of revocation of your proxy,

● submitting a properly signed proxy card by mail, email or fax bearing a later date,

● voting over the Internet, or

● voting in person at the Meeting.

***What does it mean if I receive more than one set of proxy materials?***

If your shares are registered under different names or are in more than one account, you may receive more than one set of proxy materials. To ensure that all your shares are voted, please vote through the Internet using each personal identification number you are provided, or complete, sign and date the multiple proxy cards relating to your multiple accounts. We encourage you whenever possible to have all accounts registered in the same name and address. You can accomplish this by contacting our transfer agent, VStock Transfer, LLC at 212-828-8436.

***Who paid for this proxy solicitation?***

The cost of preparing, printing, assembling and mailing this proxy statement and other material furnished to shareholders in connection with the solicitation of proxies is borne by us.

***How do I learn the results of the voting at the Meeting?***

Preliminary results will be announced at the Meeting. Final results will be published in a Report on Form 6-K filed with the SEC.

***How are proxies solicited?***

In addition to the mail solicitation of proxies, our officers, directors, employees and agents may solicit proxies by written communication, telephone or personal call. These persons will receive no special compensation for any solicitation activities. We will reimburse banks, brokers and other persons holding Ordinary Shares for their expenses in forwarding proxy solicitation materials to beneficial owners of our Ordinary Shares.

***What is "householding?"***

"Householding" means that we deliver a single set of proxy materials when requested to households with multiple shareholders, provided certain conditions are met. Householding reduces our printing and mailing costs.

If you or another shareholder of record sharing your address would like to receive an additional copy of the proxy materials, we will promptly deliver it to you upon your request by sending a written request by mail to:

**ERAYAK Power Solution Group Inc.**

No. 528, 4<sup>th</sup> Avenue

Binhai Industrial Park

Wenzhou, Zhejiang Province

People's Republic of China 325025

If you would like to opt out of householding in future mailings, or if you are currently receiving multiple mailings at one address and would like to request householder mailings, you may do so by contacting our Corporate Secretary as indicated above.

***Can I receive future shareholder communications electronically through the Internet?***

Yes. You may elect to receive future notices of meetings, proxy materials and annual reports electronically through the Internet. To consent to electronic delivery, vote your shares using the Internet. At the end of the Internet voting procedure, the on-screen Internet voting instructions will tell you how to request future shareholder communications be sent to you electronically.

Once you consent to electronic delivery, you must vote your shares using the Internet and your consent will remain in effect until withdrawn. You may withdraw this consent at any time during the voting process and resume receiving shareholder communications in print form.

***Whom may I contact for further assistance?***

If you have any questions about giving your proxy or require any assistance, please contact us by mail, to:

**ERAYAK Power Solution Group Inc.**

No. 528, 4<sup>th</sup> Avenue

Binhai Industrial Park

Wenzhou, Zhejiang Province

People's Republic of China 325025

**PROPOSAL ONE**

**SHARE CAPITAL REDUCTION AND REORGANIZATION**

To consider and approve, by a special resolution, subject to all requirements prescribed by sections 14, 14A and 14B of the Companies Act (Revised) of the Cayman Islands (the "**Companies Act**") relating to share capital reductions being complied with, a proposal for a reduction and reorganization of the share capital of the Company from US$220,000,000 divided into 1,000,000,000 ordinary shares of par value of US$0.22 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.22 each and (b) 100,000,000 class B ordinary shares of par value of US$0.22 each to US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each (together, the "**Share Capital Reduction and Reorganization**").

It is noted that the Companies (Amendment) Act, 2024 of the Cayman Islands (the "**Amendment Act**"), which amended the Companies Act (Revised) of the Cayman Islands, came into force on 1 January 2026. Amongst other things, the Amendment Act allows companies limited by shares or by guarantee to reduce their share capital without the need for court approval by passing a special resolution supported by a solvency statement (the "**Solvency Statement**") made by the directors of the company no more than 30 days before the date on which the special resolution for reducing share capital is passed (the "**New Share Capital Reduction Regime**"). Under the Amendment Act, "solvency statement" is defined as "a statement made in the prescribed form to the effect that a full enquiry into the company's affairs has been made and to the best of the directors' knowledge and belief the company will be able to pay its debts as they fall due in the ordinary course of business commencing on the date of the statement."

It is noted that the directors of the Company, in accordance with the New Share Capital Reduction Regime, have confirmed that, they have made a full enquiry into the affairs of the Company and that, having done so, they believe that the Company will be able to pay its debts in full, together with interest at the prescribed rate as they fall due in the ordinary course of business commencing on the date of the Solvency Statement.

Resolution To Be Voted Upon

The full text of the resolution to be proposed is as follows:

It is resolved, by a special resolution, that, subject to all requirements prescribed by sections 14, 14A and 14B of the Companies Act (Revised) of the Cayman Islands (the "**Companies Act**") relating to share capital reductions being complied with (together, the "**Share Capital Reduction and Reorganization**"):

*Share Capital Reduction*

&nbsp;&nbsp;&nbsp;&nbsp;a. the
 par value of each issued and outstanding class A ordinary share of par value of US$0.22 and
 each issued and outstanding class B ordinary share of par value of US$0.22 in the share capital
 of the Company be reduced to US$0.00001 by cancelling US$0.21999 of the paid-up capital on
 each of the issued and outstanding class A ordinary share of par value of US$0.22 and class
 B ordinary share of par value of US$0.22 (the "**Share Capital Reduction** ");

&nbsp;&nbsp;&nbsp;&nbsp;b. following
the Share Capital Reduction, the amount deemed to be paid up on each issued and outstanding share of the Company shall be US$0.00001;

&nbsp;&nbsp;&nbsp;&nbsp;c. the
 credit arising from the Share Capital Reduction be transferred to a distributable reserve
 account of the Company which may be utilised by the Company as the board of directors of
 the Company (the "**Board**") may deem fit and as permitted under the Companies
 Act, the Company's memorandum and articles of association, and all relevant applicable
 laws, including, without limitation, eliminating or setting off any accumulated losses of
 the Company (if any) from time to time;

*Share Capital Subdivision*

&nbsp;&nbsp;&nbsp;&nbsp;d. immediately
following the Share Capital Reduction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. each
authorized but unissued class A ordinary share of par value of US$0.22 be subdivided into 22,000 class A ordinary shares of par value
of US$0.00001 each; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. each
authorized but unissued class B ordinary share of par value of US$0.22 be subdivided into 22,000 class B ordinary shares of par value
of US$0.00001 each,

(the "**Subdivision**");

*Share Capital Cancellation*

&nbsp;&nbsp;&nbsp;&nbsp;e. immediately
 following the Subdivision, the authorized share capital of the Company be altered by the
 cancellation of such number of excess authorized but unissued class A ordinary shares of
 par value of US$0.00001 each and authorized but unissued class B ordinary shares of par value
 of US$0.00001 each as will result in the Company having authorized share capital of US$10,000
 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a)
 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class
 B ordinary shares of par value of US$0.00001 each (the "**Cancellation** ");
 and

*Authorized Share Capital Confirmation*

&nbsp;&nbsp;&nbsp;&nbsp;f. consequent
upon the Share Capital Reduction, the Subdivision and the Cancellation, the authorized share capital of the Company shall be changed
from US$220,000,000 divided into 1,000,000,000 ordinary shares of par value of US$0.22 each, comprising (a) 900,000,000 class A ordinary
shares of par value of US$0.22 each and (b) 100,000,000 class B ordinary shares of par value of US$0.22 each to US$10,000 divided into
1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001
each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each.

**Vote Required**

This proposal requires the affirmative ("**FOR**") vote of not less than two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" this proposal. Abstentions or broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of this proposal, although they will be counted for purposes of determining whether there is a quorum present.

**Board of Directors' Recommendation**

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS VOTE "FOR" THIS PROPOSAL**

**PROPOSAL TWO**

**SHARE CAPITAL INCREASE**

**General**

We are proposing to approve, by an ordinary resolution, with effect immediately following the effectiveness of the Share Capital Reduction and Reorganization, to increase the Company's authorized share capital

From: US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each,

To: US$50,000 divided into 5,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 4,500,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 500,000,000 class B ordinary shares of par value of US$0.00001 each,

by the creation of (i) 3,600,000,000 class A ordinary shares of par value of US$0.00001 each, and (ii) 400,000,000 class B ordinary shares of par value of US$0.00001 each (the "**Share Capital Increase**").

**Vote Required**

This proposal requires the affirmative ("**FOR**") vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting (in computing the majority regard shall be had to the number of votes to which each shareholder is entitled). Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" this proposal. Abstentions or broker non-votes, if any, will not be counted as votes cast, although abstentions and broker non-votes will be counted for purposes of determining whether there is a quorum present.

**Board of Directors' Recommendation**

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS VOTE "FOR" THIS PROPOSAL.**

**PROPOSAL THREE**

**ADOPTION OF THE SIXTH AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION**

**General**

We are proposing to approve, as a special resolution, subject to and immediately following the effectiveness of the Share Capital Reduction and Reorganization and the Share Capital Increase:

&nbsp;&nbsp;&nbsp;&nbsp;(1) to
 amend and restate the currently effective memorandum and articles of association of the Company
 by their deletion in their entirety and the substitution in their place with the sixth amended
 and restated memorandum and articles of association, in the form attached to the proxy statement
 as <u>Exhibit A</u> (the "**Sixth Amended and Restated Memorandum and Articles of Association** "), which incorporate amendments including the Share Capital Reduction
 and Reorganization and the Share Capital Increase, and effective upon the Share Capital Reduction
 and Reorganization and the Share Capital Increase; and

&nbsp;&nbsp;&nbsp;&nbsp;(2) to
authorize the Company's registered office provider to make any necessary filing with the Registrar of Companies in the Cayman Islands
in connection with the adoption of the Sixth Amended and Restated Memorandum and Articles of Association and authorize the Board to take
all further actions and execute all further documents as may be necessary or advisable to carry out the intent of these resolutions.

(the "**Adoption of Sixth Amended and Restated Memorandum and Articles of Association**")

**Vote Required**

This proposal requires the affirmative ("**FOR**") vote of not less than two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" this proposal. Abstentions or broker non-votes, if any, will not be counted as votes cast, although abstentions and broker non-votes will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

**THE BOARD UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS VOTE "FOR" THIS PROPOSAL**

**PROPOSAL FOUR**

**ADJOURNMENT OF THE MEETING TO A LATER DATE OR DATES, IF NECESSARY, TO PERMIT FURTHER <br> SOLICITATION AND VOTE OF PROXIES IN THE EVENT THAT THERE ARE INSUFFICIENT VOTES FOR, OR <br> OTHERWISE IN CONNECTION WITH, THE APPROVAL OF ALL THE RESOLUTIONS CONTEMPLATED BY <br> PROPOSAL ONE, PROPOSAL TWO, AND PROPOSAL THREE**

Proposal Four, if adopted, will allow the chairman of the Meeting to adjourn the Meeting to a later date or dates to permit further solicitation of proxies. The Adjournment Proposal will only be presented to our shareholders in the event that there are insufficient votes for, or otherwise in connection with, the approval of the other proposals.

If Proposal Four is not approved by our shareholders, the chairman of the Meeting may not be able to adjourn the Meeting to a later date in the event that there are insufficient votes for, or otherwise in connection with, the approval of all the resolutions contemplated by Proposal One, Proposal Two, and Proposal Three.

**Vote Required**

This proposal requires the affirmative ("**FOR**") vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy or, in the case of corporations, by their duly authorized representatives, at the Meeting (in computing the majority regard shall be had to the number of votes to which each shareholder is entitled). Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" this proposal. Abstentions, if any, will not be counted as votes cast and will not affect the outcome of this proposal, although they will be counted for purposes of determining whether there is a quorum present. If shareholders hold their shares through a broker, bank or other nominee and do not instruct them how to vote, the broker may have authority to vote the shares for this proposal, which is considered a routine matter.

**Board of Directors' Recommendation**

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS VOTE "FOR" THIS PROPOSAL.**

**EXHIBIT A**

**THE COMPANIES ACT (REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SIXTH AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**ERAYAK Power Solution Group Inc.**

(adopted by a Special Resolution passed at the extraordinary general meeting of shareholders of the Company held on 8 July 2026 (the "EGM") and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase (each as defined in the minutes of the EGM))

1. The name of the Company is ERAYAK Power Solution Group Inc.

2. The Registered Office of the Company will be situated at Ascentium (Cayman) Limited, 4<sup>th</sup> Floor, Harbour Place, 103 South
Church Street, P.O. Box 10240, Grand Cayman KY1-1002, 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 authorised share capital of the Company is US$50,000 divided into 5,000,000,000 ordinary shares of par value of US$0.00001 each,
comprising (a) 4,500,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 500,000,000 class B ordinary shares of par
value of US$0.00001 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 authorised 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. Capitalised 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 (REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SIXTH AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**ERAYAK Power Solution Group Inc.**

(adopted by a Special Resolution passed at the extraordinary general meeting of shareholders of the Company held on 8 July 2026 (the "EGM") and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase (each as defined in the minutes of the EGM))

**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.

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

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|:---|:---|
| **"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, whether by blood, marriage or adoption, 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 per cent (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; |

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| | |
|:---|:---|
| **"Articles"** | means these articles of association of the Company, as amended, restated and/or substituted from time to time; |

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| | |
|:---|:---|
| **"Board" and "Board of <br> 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; |
| **"Chairman"** | means the chairman 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$0.00001 in the capital of the Company, designated as a Class A Ordinary Share and having the rights provided for in these Articles; |
| **"Class B Ordinary Share"** | means an ordinary share of a par value of US$0.00001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles; |
| **"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; |

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| | |
|:---|:---|
| **"Communication Facilities"** | means 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 Persons participating in a meeting are capable of hearing and being heard by each other; |
| **"Company"** | means ERAYAK Power Solution Group Inc., a Cayman Islands exempted company; |
| **"Companies Act"** | means the Companies Act (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 the Class A Ordinary Shares, or which has otherwise been notified to Shareholders; |
| **"Designated Stock Exchange"** | means the stock exchange in the United States 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 on the Designated Stock Exchange; |
| **"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 a communication sent by electronic means, including electronic posting to the Company's Website, transmission to any number, address or internet website (including the website of the Commission) or other electronic delivery methods as otherwise decided and approved by not less than a majority of the vote of the Board; |
| **"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; |
| **"Electronic Transactions Act"** | means the Electronic Transactions Act (Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"Memorandum of Association"** | means the memorandum of association of the Company, as amended or substituted from time to time; |
| **"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 authorised representatives, at a general meeting of the Company held
in accordance with these Articles (in computing the majority regard shall be had to the number of votes to which each Shareholder is entitled
by 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;

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| | |
|:---|:---|
| **"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 authorised 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 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; |
| **"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 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"** | 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; |

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| | |
|:---|:---|
| **"Special Resolution"** | means a special resolution of the Company passed in accordance with the Companies Act, being a resolution: |

---

(a) passed by not less than two-thirds 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 authorised 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

(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;

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| | |
|:---|:---|
| **"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 chairman of the meeting and any Directors) are permitted to attend and participate solely by means of Communication Facilities. |

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

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

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

&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;(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;(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;(g) any phrase introduced by the terms "including", "include" or "in particular" or similar expression
shall be construed as illustrative and shall not limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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;(i) 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;(j) 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;(k) 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 amortised 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 and where applicable the Designated Stock Exchange Rules, 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 Shareholders, cause the Company
to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) issue, allot, or otherwise dispose of Shares (including, without limitation, preferred shares) (whether in certificated form or non-certificated
form) to such Persons, in such manner, at such times and 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;(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;(c) grant options with respect to Shares and issue warrants or similar instruments with respect thereto, at such times and on such terms
and having such rights and being subject to such restrictions as they may from time to time determine.

9. The Directors may authorise the division of Shares into any number of Classes and the different Classes shall be authorised, established
and designated (or re-designated as the case may be) and the variations in the relative rights (including, without limitation, voting,
dividend and redemption rights), restrictions, preferences, privileges and payment obligations as between the different Classes (if any)
may be fixed and determined by the Directors or by an Ordinary Resolution. The Directors may issue Shares with such preferred or other
rights, all or any of which may be greater than the rights of Ordinary Shares, at such time and on such terms as they may think appropriate.
Notwithstanding Article 17, the Directors may issue from time to time, out of the authorised share capital of the Company, series of preferred
shares in their absolute discretion and without approval of the Shareholders; provided, however, before any preferred shares of any such
series are issued, the Directors may 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;(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;(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;(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;(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;(e) whether the preferred shares of such series shall have any rights to receive any part of the assets available for distribution amongst
the Shareholders 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;(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;(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;(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;(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;(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 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 Shareholders. Each Class A Ordinary Share shall entitle the holder thereof to one (1) vote on all matters subject to
vote at general meetings of the Company, and each Class B Ordinary Share shall entitle the holder thereof to twenty (20) votes on all
matters subject to vote at general meetings of the Company.

13. Class B Ordinary Shares shall not have any economic interest (save for the right to repayment of capital on a winding up, as set forth
in Article 157) and are not convertible into Class A Ordinary Shares or any other Class of Shares under any circumstances. Class A Ordinary
Shares are not convertible into Class B Ordinary Shares under any circumstances.

14. On a winding up of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;a. each Class A Ordinary Share shall confer upon the holder thereof the right to repayment of capital in accordance with these Articles
and the right to participate in the profits or surplus assets of the Company in accordance with these Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;b. each Class B Ordinary Share shall confer upon the holder thereof the right to repayment of capital in accordance with these Articles
but shall confer no other right to participate in the profits or surplus assets of the Company.

15. Each Class A Ordinary Share confers upon the holder thereof the right to receive dividends as provided for in these Articles. Class
B Ordinary Shares do not confer upon the holders thereof any rights to receive dividends.

16. Save and except for voting rights and conversion rights as set out in Articles 12 to 15 (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.

**MODIFICATION OF RIGHTS**

17. 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 materially and adversely varied with the consent in writing of the holders
of two-thirds of the issued 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 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 have one vote for each Share of the Class held by him. For the purposes of this Article the Directors may treat all the Classes
or any two or more Classes as forming one Class if they consider that all such Classes would be affected in the same way by the proposals
under consideration, but in any other case shall treat them as separate Classes.

18. 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 materially and adversely 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. The rights of the holders of Shares shall not be deemed to be materially and adversely varied
by the creation or issue of Shares with preferred or other rights including, without limitation, the creation of Shares with enhanced
or weighted voting rights.

**CERTIFICATES**

19. A Shareholder may only be entitled to a share certificate if the Directors resolve that share certificates shall be issued. Share
certificates representing Shares, if any, shall be in such form as the Directors may determine. Share certificates shall be signed by
one or more Directors or other person authorised by the Directors. The Directors may authorise certificates to be issued with the authorised
signature(s) affixed by mechanical process. All certificates for Shares shall be numbered or otherwise identified and shall specify the
Shares to which they relate. All certificates surrendered to the Company for transfer shall be cancelled and, subject to these Articles,
no new certificate shall be issued until the former certificate representing a like number of relevant Shares shall have been surrendered
and cancelled.

20. Every share certificate of the Company shall bear such legends as may be required under applicable laws, including the Securities
Act.

21. No certificate shall be issued representing shares of more than one class.

22. 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 Shareholder 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.

23. The Company shall not be bound to issue more than one certificate for Shares held jointly by more than one person. 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**

24. 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**

25. 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 is the sole registered holder of a Share or one of two
or more joint holders) for all amounts owing by him or his 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.

26. 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 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 death or bankruptcy.

27. For giving effect to any such sale the Directors may authorise 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 shall not be bound to see to the application
of the purchase money, nor shall his title to the Shares be affected by any irregularity or invalidity in the proceedings in reference
to the sale.

28. The proceeds of the sale after deduction of expenses, fees and commissions 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**

29. 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 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 authorising such call was passed.

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

31. 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 such rate as the Directors may determine from the day appointed for payment of the call to the
time of the actual payment, but the Directors shall be at liberty to waive payment of that interest wholly or in part.

32. 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.

33. 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.

34. The provisions contained in these Articles in respect of calls shall apply to payments, whether on account of the amount of the Share,
or by way of premium, to be made on the allotment of a Share or any date fixed on the issue of the Share as if the same had become payable
by virtue of a call duly made and notified.

**FORFEITURE OF SHARES**

35. 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
requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued.

36. The notice shall name a further day (not earlier than the expiration of fourteen 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.

37. 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.

38. 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.

39. 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 to the Company in respect of the Shares
forfeited, but his liability shall cease if and when the Company receives payment in full of the amount unpaid on the Shares forfeited.

40. 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.

41. 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 favour 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 title to the Shares be affected by any irregularity or invalidity in the proceedings in reference to the disposition
or sale.

42. 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**

43. 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 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. Subject to these Articles, any Shareholder may transfer all or any of his shares by an instrument of
transfer in the usual or common form or in a form prescribed by the Designated Stock Exchange or in any other form approved by the Board
and may be under hand or, if the transferor or transferee is a clearing house or a central depository house or its nominee(s), by hand
or by machine imprinted signature or by such other manner of execution as the Board may approve from time to time.

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

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

&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;(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;(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.

45. The registration of transfers may, after compliance with any notice required by 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 forty calendar days in
any calendar year.

46. 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 two 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**

47. The legal personal representative of a deceased sole holder of a Share shall be the only Person recognised 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 recognised by the Company as having any title to the Share.

48. 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, 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.

49. 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 would be entitled if he were the registered Shareholder, except that he 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 to transfer the Share, and if the notice is not complied with within ninety 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**

50. The Company shall be entitled to charge a fee not exceeding one 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**

51. 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 and with such rights, priorities and privileges annexed thereto, as the Company
in general meeting may determine.

52. The Company may by Ordinary Resolution:

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

&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;(c) divide its Shares into several classes and without prejudice to any special rights previously conferred on the holders of existing
Shares attach thereto respectively any preferential, deferred, qualified or special rights, privileges, conditions or such restrictions
which in the absence of any such determination by the Company in general meeting, as the Directors may determine provided always that,
for the avoidance of doubt, where a Class of Shares
has been authorised by the Company, no resolution of the Company in general meeting is required for the issuance of Shares of that Class
and the Directors may issue Shares of that Class and determine such rights, privileges, conditions or restrictions attaching thereto as
aforesaid, and further provided that where the Company issues shares which do not carry voting rights, the words "non-voting"
shall appear in the designation of such Shares and where the equity capital includes shares with different voting rights, the designation
of each Class of Shares, other than those with the most favourable voting rights, must include the words "restricted voting"
or "limited voting";

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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;(e) 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.

53. All new Shares created in accordance with the provisions of the preceding Article shall be subject to the same provisions of the Articles
with reference to the payment of calls, Liens, transfer, transmission, forfeiture and otherwise as the Shares in the original share capital.
The Board may settle as it considers expedient any difficulty which arises in relation to any consolidation and division under the preceding
Article and in particular but without prejudice to the generality of the foregoing may arrange for the sale of the shares representing
fractions and the distribution of the net proceeds of sale (after deduction of the expenses of such sale) in due proportion amongst the
Shareholders who would have been entitled to the fractions, and for this purpose the Board may authorise some person to transfer the shares
representing fractions to their purchaser or resolve that such net proceeds be paid to the Company for the Company's benefit. Such
purchaser will not be bound to see to the application of the purchase money nor will his title to the shares be affected by any irregularity
or invalidity in the proceedings relating to the sale.

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

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

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

&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 the Board;

&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 are otherwise authorised by these Articles; and

&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.

56. 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.

57. 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 the purchase or redemption monies or consideration in respect thereof.

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

**TREASURY SHARES**

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

60. 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).

**GENERAL MEETINGS**

&nbsp;&nbsp;&nbsp;&nbsp;61. All general meetings other than annual general meetings shall
be called extraordinary general meetings. 62.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company may (but shall not be obliged to) in each calendar year hold a general meeting as its annual general meeting and shall
specify the meeting as such in the notices calling it. The annual general meeting shall be held at such time and place as may be determined
by the Directors.

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

63. &nbsp;&nbsp;&nbsp;&nbsp;(a) The Chairman or a majority of the Directors (acting by a resolution of the Board) 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;(b) A Shareholders' requisition is a requisition of Shareholders holding at the date of deposit of the requisition Shares which
carry in aggregate not less than one-tenth (1/10) of the total number of votes attaching to all issued and outstanding Shares that as
at the date of the deposit carry the right to vote at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The requisition must state the objects of the meeting 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;(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 more than one-half of the total voting rights
of all of them, may themselves convene a general meeting, but any meeting so convened shall not be held after the expiration of three
calendar months after the expiration of the said twenty-one (21) calendar days.

&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.

**NOTICE OF GENERAL MEETINGS**

64. At least seven (7) clear days' notice shall be given for any general meeting. 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, 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 by shareholders holding at least 90% of the total voting rights on all the matters to be considered
at the meeting.

65. 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**

66. No business except for the appointment of a chairman 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 one-third 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.

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

68. If the Directors wish to make this facility available for a specific general meeting or all general meetings of the Company, attendance
and participation in any 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 will be utilised (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 utilise such Communication
Facilities for the purposes of attending and participating in such meeting, including attending and casting any vote thereat.

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

70. The chairman of any general meeting shall be entitled to attend and participate at any such general meeting by means of Communication
Facilities, and to act as the chairman of such general meeting, in which event the following provisions shall apply:

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Communication Facilities are interrupted or fail for any reason to enable the chairman 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 chairman 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.

71. The chairman of any general meeting at which a quorum is Present may with the consent of the meeting (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.

72. 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 or for no reason, upon notice in writing to Shareholders.
A postponement may be for a stated period of any length or indefinitely as the Directors may determine.

73. At any general meeting a resolution put to the vote of the meeting shall be decided by poll.

74. The result of the poll shall be deemed to be the resolution of the meeting.

75. 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, the chairman of the meeting shall be entitled to a second or casting
vote.

**VOTES OF SHAREHOLDERS**

76. Subject to any rights and restrictions for the time being attached to any Share, every Shareholder Present in person or represented
by its duly authorised representative or proxy shall have one (1) vote for each Class A Ordinary Share and twenty (20) votes for each
Class B Ordinary Share of which such Shareholder is the holder.

77. 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 authorised 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.

78. 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 by his 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.

79. 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 in respect of Shares carrying the right to vote held by him have been paid.

80. Votes may be given either personally or by proxy.

81. Each Shareholder, other than a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)), may only appoint one
proxy. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney duly authorised in writing
or, if the appointor is a corporation, either under Seal or under the hand of an officer or attorney duly authorised. A proxy need not
be a Shareholder.

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

83. 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 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, 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 chairman of the meeting may in any event at his 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.

84. 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 authorised 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**

85. Any corporation which is a Shareholder or a Director may by resolution of its directors or other governing body authorise 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 authorised shall be entitled to exercise the same powers on behalf of the corporation
which he represents as that corporation could exercise if it were an individual Shareholder or Director.

**DEPOSITARY AND CLEARING HOUSES**

86. If a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Shareholder of the Company it may, by resolution
of its directors or other governing body or by power of attorney, authorise 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 authorised, the authorisation
shall specify the number and Class of Shares in respect of which each such Person is so authorised. A Person so authorised pursuant to
this Article shall be entitled to exercise the same powers on behalf of the recognised clearing house (or its nominee(s)) or depositary
(or its nominee(s)) which he represents as that recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)) could
exercise if it were an individual Shareholder holding the number and Class of Shares specified in such authorisation, including the right
to vote individually.

**DIRECTORS**

87. &nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise determined by the Company in general meeting, the number of Directors shall not be less than two (2) Directors, the
exact number of Directors to be determined from time to time by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Board of Directors shall elect and appoint a Chairman by a majority of the Directors then in office. The period for which the
Chairman will hold office will also be determined by a majority of all of the Directors then in office. The Chairman shall preside as
chairman at every meeting of the Board of Directors. To the extent the Chairman
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 chairman of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company may by Ordinary Resolution appoint any person to be a Director.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 Board.

&nbsp;&nbsp;&nbsp;&nbsp;(e) An appointment of a Director may be on terms that the Director shall automatically retire from office (unless he 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.

88. A Director may be removed from office by an Ordinary Resolution, notwithstanding anything in these Articles or in any agreement between

the removal of a Director under the previous sentence may be filled by an Ordinary Resolution or by the affirmative vote of a simple majority
of the remaining Directors present and voting at a Board meeting. 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 removal.

89. 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.

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

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

92. 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.

**ALTERNATE DIRECTOR OR PROXY**

93. Any Director may in writing appoint another Person to be his 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 is not personally present and where he is a Director to have
a separate vote on behalf of the Director he is representing in addition to his own vote. A Director may at any time in writing revoke
the appointment of an alternate appointed by him. 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. The remuneration of such alternate shall be payable out of the remuneration of the Director
appointing him and the proportion thereof shall be agreed between them.

94. Any Director may appoint any Person, whether or not a Director, to be the proxy of that Director to attend and vote on his 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 chairman 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**

95. 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.

96. 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 tenure of office be terminated.

97. 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.

98. 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.

99. 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 authorised signatory (any such Person being an "Attorney" or "Authorised 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 Authorised Signatory as the
Directors may think fit, and may also authorise any such Attorney or Authorised Signatory to delegate all or any of the powers, authorities
and discretion vested in him.

100. 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.

101. 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.

102. 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 authorise 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.

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

**BORROWING POWERS OF DIRECTORS**

104. 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**

105. 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 affixing
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.

106. 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 affixing
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.

107. 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**

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) is prohibited by law from being a director; or

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

**PROCEEDINGS OF DIRECTORS**

109. The Directors may meet together (either within or outside the Cayman Islands) for the despatch 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 proxy or alternate shall be entitled to one vote.
In the case of an equality of votes, the chairman shall not 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.

110. 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.

111. The quorum necessary for the transaction of the business of the Board may be fixed by the Directors, and unless so fixed the presence
of two (2) Directors then in office shall constitute a quorum. 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.

112. 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 interest at a meeting of the Directors. A general notice given to the Directors by any
Director to the effect that he 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 chairman of the relevant
Board meeting, a Director may vote in respect of any contract or transaction or proposed contract or transaction notwithstanding that
he may be interested therein and if he does so his vote shall be counted and he 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.

113. A Director may hold any other office or place of profit under the Company (other than the office of auditor) in conjunction with his
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 office from contracting with the Company either with regard to his 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 realised 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 interest, may be counted
in the quorum present at any meeting of the Directors whereat he 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 may vote on any such appointment or arrangement.

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

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

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

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

116. When the chairman 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.

117. 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 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 duly appointed alternate.

118. 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.

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

120. 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 chairman shall have a second or casting vote.

121. 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**

122. 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 dissent shall be entered in the minutes of the meeting or unless he shall file his written
dissent from such action with the person acting as the chairman 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 favour of such action.

**DIVIDENDS**

123. 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 authorise payment of the same out of the funds of the Company
lawfully available therefor.

124. 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.

125. 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 equalising 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.

126. 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 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 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.

127. 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.

128. 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.

129. 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.

130. No dividend shall bear interest against the Company.

131. 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**

132. 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.

133. 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.

134. 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 authorised by the Directors.

135. 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.

136. The Directors may appoint an auditor of the Company who shall hold office until removed from office by a resolution of the Directors
and may fix his or their remuneration.

137. Every auditor of the Company shall have a right of access at all times to the books and accounts and vouchers of the Company and shall
be entitled to require from the Directors and officers of the Company such information and explanation as may be necessary for the performance
of the duties of the auditors.

138. 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 Shareholders.

139. 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.

**CAPITALISATION OF RESERVES**

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve to capitalise 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;(b) appropriate the sum resolved to be capitalised 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;(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;(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;(c) make any arrangements they think fit to resolve a difficulty arising in the distribution of a capitalised 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;(d) authorise 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;(i) the allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures to which they may be entitled on the
capitalisation, or

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

141. Notwithstanding any provisions in these Articles and subject to the Companies Act, the Directors may resolve to capitalise 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;(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 Shareholders; or

&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 Shareholders.

**SHARE PREMIUM ACCOUNT**

142. 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.

143. 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**

144. Except as otherwise provided in these Articles, any notice or document may be served by the Company or by the Person entitled to give
notice to any Shareholder either personally, or by posting it by airmail or a recognised courier service in a prepaid letter addressed
to such Shareholder at his address as appearing in the Register, or by electronic mail to any electronic mail address such Shareholder
may have specified in writing for the purpose of such service of notices, or by facsimile to any facsimile number such Shareholder may
have specified in writing for the purpose of such service of notices, or by placing it on the Company's Website should the Directors
deem it appropriate. 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.

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

146. Any Shareholder Present 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.

147. Any notice or other document, if served by:

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

&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;(c) recognised 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;(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.

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.

148. 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
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 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) in the Share.

&nbsp;&nbsp;&nbsp;&nbsp;149. Notice of every general meeting of the Company shall be given to:

&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;(b) every Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who but for his 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**

150. Subject to the relevant laws, rules and regulations applicable to the Company, no Shareholder 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 Shareholders of the Company to communicate to the public.

151. 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 Shareholders
including, without limitation, information contained in the Register and transfer books of the Company.

**INDEMNITY**

152. 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 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. To the extent permissible under applicable laws, the Shareholders waive any claim or right of action
that they may have, both individually and on the Company's behalf, against any Director in relation to any action or failure to
take action by such Director in the performance of his or her duties with or for the Company, except in respect of any dishonesty, willful
default or fraud of such Director.

153. No Indemnified Person shall be liable:

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

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

&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;(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**

154. Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31 December in each calendar year and shall
begin on 1 January in each calendar year.

**NON-RECOGNITION OF TRUSTS**

155. No Person shall be recognised 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 recognise (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**

156. 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 Shareholders 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 Shareholders or different classes of Shareholders. 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 Shareholders as the liquidator, with the like
sanction, shall think fit, but so that no Shareholder shall be compelled to accept any asset upon which there is a liability.

157. If the Company shall be wound up, and the assets available for distribution amongst the Shareholders
 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 Shareholders in proportion to the par value of the Shares held by them. If in a winding up the assets
 available for distribution amongst the Shareholders 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 Shareholders 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**

158. 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**

159. 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 forty calendar days in any calendar year.

160. In lieu of or apart from closing the Register, the Directors may fix in advance or arrears a date as the record date for any such
determination of those Shareholders.

161. 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**

162. 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**

163. The Directors, or any service providers (including the officers, the Secretary and the registered office provider of the Company)
specifically authorised by the Directors, shall be entitled to disclose to any regulatory or judicial authority any information regarding
the affairs of the Company including without limitation information contained in the Register and books of the Company.

**OTHER MATTERS**

As of the date of this Proxy Statement, the Board has no knowledge of any business which will be presented for consideration at the Meeting other than the Share Capital Reduction and Reorganization, the Share Capital Increase, the Adoption of the Sixth Amended and Restated Memorandum and Articles of Association, and the Adjournment Proposal, if necessary.

**WHERE YOU CAN FIND MORE INFORMATION**

The Company files reports and other documents with the SEC under the Exchange Act. The Company's SEC filings made electronically through the SEC's EDGAR system are available to the public at the SEC's website at *http://www.sec.gov*.

---

| | |
|:---|:---|
| Date: June 16, 2026 | By Order of the Board of Directors |
|  | */s/ Lingyi Kong* |
|  | Lingyi Kong |
|  | Chief Executive Officer |

---

## Exhibit 99.2

**Exhibit 99.2**

**ERAYAK Power Solution Group Inc.**

No. 528, 4<sup>th</sup> Avenue<br> Binhai Industrial Park<br> Wenzhou, Zhejiang Province<br> People's Republic of China 325025

**PROXY**

**Solicited on Behalf of the Board of Directors for the Extraordinary General<br> Meeting of Shareholders to be held on July 9, 2026 at 11:00 A.M., Beijing Time<br> (July 8, 2026, at 11:00 P.M., Eastern Time)**

The undersigned hereby appoints Mr. Lingyi Kong as proxy with full power of substitution, to represent and to vote as set forth herein all the ordinary shares of ERAYAK Power Solution Group Inc. which the undersigned is entitled to vote at the extraordinary general meeting of shareholders of the Company (the "**Meeting**" or "**EGM**") and any adjournments or postponements thereof, as designated below. **If no designation is made, the proxy, when properly executed, will be voted "FOR" the resolutions in Items 1, 2, 3 and 4.**

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| | |
|:---|:---|
| **Item 1** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED as a special resolution, subject to all requirements prescribed by sections 14, 14A and 14B of the Companies Act (Revised) of the Cayman Islands (the "**Companies Act**") relating to share capital reductions being complied with (together, the "**Share Capital Reduction and Reorganization**"), to approve<br>*Share Capital Reduction*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the par value of each issued and outstanding class A ordinary share of par value of US$0.22 and each issued and outstanding class B ordinary share of par value of US$0.22 in the share capital of the Company be reduced to US$0.00001 by cancelling US$0.21999 of the paid-up capital on each of the issued and outstanding class A ordinary share of par value of US$0.22 and class B ordinary share of par value of US$0.22 (the "**Share Capital Reduction**");<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. following the Share Capital Reduction, the amount deemed to be paid up on each issued and outstanding share of the Company shall be US$0.00001;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. the credit arising from the Share Capital Reduction be transferred to a distributable reserve account of the Company which may be utilised by the Company as the board of directors of the Company (the "**Board**") may deem fit and as permitted under the Companies Act, the Company's memorandum and articles of association, and all relevant applicable laws, including, without limitation, eliminating or setting off any accumulated losses of the Company (if any) from time to time;<br>*Share Capital Subdivision*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. immediately following the Share Capital Reduction:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. each authorized but unissued class A ordinary share of par value of US$0.22 be subdivided into 22,000 class A ordinary shares of par value of US$0.00001 each; and<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. each authorized but unissued class B ordinary share of par value of US$0.22 be subdivided into 22,000 class B ordinary shares of par value of US$0.00001 each,<br>(the "**Subdivision**");<br>*Share Capital Cancellation*<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. immediately following the Subdivision, the authorized share capital of the Company be altered by the cancellation of such number of excess authorized but unissued class A ordinary shares of par value of US$0.00001 each and authorized but unissued class B ordinary shares of par value of US$0.00001 each as will result in the Company having authorized share capital of US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each (the "**Cancellation**"); and<br>*Authorized Share Capital Confirmation*<br>consequent upon the Share Capital Reduction, the Subdivision and the Cancellation, the authorized share capital of the Company shall be changed from US$220,000,000 divided into 1,000,000,000 ordinary shares of par value of US$0.22 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.22 each and (b) 100,000,000 class B ordinary shares of par value of US$0.22 each to US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each. |

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☐ For ☐ Against ☐ Abstain

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| | |
|:---|:---|
| **Item 2** | RESOLVED as an ordinary resolution, with effect immediately following the effectiveness of the Share Capital Reduction and Reorganization, to increase the Company's authorized share capital<br>From: US$10,000 divided into 1,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 900,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 100,000,000 class B ordinary shares of par value of US$0.00001 each,<br>To: US$50,000 divided into 5,000,000,000 ordinary shares of par value of US$0.00001 each, comprising (a) 4,500,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 500,000,000 class B ordinary shares of par value of US$0.00001 each,<br>by the creation of (i) 3,600,000,000 class A ordinary shares of par value of US$0.00001 each, and (ii) 400,000,000 class B ordinary shares of par value of US$0.00001 each (the "**Share Capital Increase**"). |

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| | |
|:---|:---|
| **Item 3** | RESOLVED as a special resolution, subject to and immediately following the effectiveness of the Share Capital Reduction and Reorganization and the Share Capital Increase:<br>(1) to amend and restate the currently effective memorandum and articles of association of the Company by their deletion in their entirety and the substitution in their place with the sixth amended and restated memorandum and articles of association, in the form attached to the proxy statement as <u>Exhibit A</u> (the "**Sixth Amended and Restated Memorandum and Articles of Association**"), which incorporate amendments including Share Capital Reduction and Reorganization and the Share Capital Increase, and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase; and<br>(2) to authorize the Company's registered office provider to make any necessary filing with the Registrar of Companies in the Cayman Islands in connection with the adoption of the Sixth Amended and Restated Memorandum and Articles of Association and authorize the Board to take all further actions and execute all further documents as may be necessary or advisable to carry out the intent of these resolutions.<br>(the "**Adoption of Sixth Amended and Restated Memorandum and Articles of Association**") |

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☐ For ☐ Against ☐ Abstain

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| | |
|:---|:---|
| **Item 4** | RESOLVED as an ordinary resolution, to adjourn the Meeting for any purpose, including to solicit additional proxies if there are insufficient votes at the time of the Meeting to approve the proposals described above (the "**Adjournment Proposal**"). |

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☐ For ☐ Against ☐ Abstain

THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.

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| |
|:---|
| Dated:_____________________________________ , 2026 |
| Signature |
| Signature (Joint Owners) |

---

Please date and sign name exactly as it appears hereon. Executors, administrators, trustees, etc. should so indicate when signing. If the shareholder is a corporation, the full corporate name should be inserted and the proxy signed by an officer of the corporation indicating his/her title.

[SEE VOTING INSTRUCTIONS ON REVERSE SIDE]

VOTING INSTRUCTIONS

VOTING INSTRUCTIONS

To vote by Internet

1) Visit *www.proxyvote.com* or scan the QR code on your voting card.

To vote by Telephone

1) Call the telephone number on your voting card or email.

To vote by Mail

1) Check the appropriate boxes on the voting instruction form

2) Sign, date, and return your voting card in the enclosed envelope.

Please note the latest we will accept voting is on July 9, 2026, at 11:59 A.M., Beijing Time (July 8, 2026, at 11:59 P.M., Eastern Time).

## Exhibit 99.3

**Exhibit 99.3**

**THE COMPANIES ACT (REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SIXTH AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**ERAYAK Power Solution Group Inc.**

(adopted by a Special Resolution passed at the extraordinary general meeting of shareholders of the Company held on 8 July 2026 (the "EGM") and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase (each as defined in the minutes of the EGM))

1. The name of the Company is ERAYAK Power Solution Group Inc.

2. The Registered Office of the Company will be situated at Ascentium (Cayman) Limited, 4<sup>th</sup> Floor, Harbour Place, 103 South
Church Street, P.O. Box 10240, Grand Cayman KY1-1002, 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 authorised share capital of the Company is US$50,000 divided into 5,000,000,000 ordinary shares of par value of US$0.00001 each,
comprising (a) 4,500,000,000 class A ordinary shares of par value of US$0.00001 each and (b) 500,000,000 class B ordinary shares of par
value of US$0.00001 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 authorised 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. Capitalised 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 (REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SIXTH AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**ERAYAK Power Solution Group Inc.**

(adopted by a Special Resolution passed at the extraordinary general meeting of shareholders of the Company held on 8 July 2026 (the "EGM") and effective upon the Share Capital Reduction and Reorganization and the Share Capital Increase (each as defined in the minutes of the EGM))

**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.

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

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| | |
|:---|:---|
| **"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, whether by blood, marriage or adoption, 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 per cent (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; |

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| | |
|:---|:---|
| **"Articles"** | means these articles of association of the Company, as amended, restated and/or substituted from time to time; |

---

---

| | |
|:---|:---|
| **"Board" and "Board of <br> 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; |
| **"Chairman"** | means the chairman 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$0.00001 in the capital of the Company, designated as a Class A Ordinary Share and having the rights provided for in these Articles; |
| **"Class B Ordinary Share"** | means an ordinary share of a par value of US$0.00001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles; |
| **"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; |

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| | |
|:---|:---|
| **"Communication Facilities"** | means 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 Persons participating in a meeting are capable of hearing and being heard by each other; |
| **"Company"** | means ERAYAK Power Solution Group Inc., a Cayman Islands exempted company; |
| **"Companies Act"** | means the Companies Act (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 the Class A Ordinary Shares, or which has otherwise been notified to Shareholders; |
| **"Designated Stock Exchange"** | means the stock exchange in the United States 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 on the Designated Stock Exchange; |
| **"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 a communication sent by electronic means, including electronic posting to the Company's Website, transmission to any number, address or internet website (including the website of the Commission) or other electronic delivery methods as otherwise decided and approved by not less than a majority of the vote of the Board; |
| **"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; |
| **"Electronic Transactions Act"** | means the Electronic Transactions Act (Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"Memorandum of Association"** | means the memorandum of association of the Company, as amended or substituted from time to time; |
| **"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 authorised representatives, at a general meeting of the Company held
in accordance with these Articles (in computing the majority regard shall be had to the number of votes to which each Shareholder is entitled
by 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 authorised 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 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; |
| **"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 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"** | 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; |

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| | |
|:---|:---|
| **"Special Resolution"** | means a special resolution of the Company passed in accordance with the Companies Act, being a resolution: |

---

(a) passed by not less than two-thirds 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 authorised 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

(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;

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| | |
|:---|:---|
| **"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 chairman of the meeting and any Directors) are permitted to attend and participate solely by means of Communication Facilities. |

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

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

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

&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;(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;(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;(g) any phrase introduced by the terms "including", "include" or "in particular" or similar expression
shall be construed as illustrative and shall not limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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;(i) 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;(j) 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;(k) 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 amortised 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 and where applicable the Designated Stock Exchange Rules, 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 Shareholders, cause the Company
to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) issue, allot, or otherwise dispose of Shares (including, without limitation, preferred shares) (whether in certificated form or non-certificated
form) to such Persons, in such manner, at such times and 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;(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;(c) grant options with respect to Shares and issue warrants or similar instruments with respect thereto, at such times and on such terms
and having such rights and being subject to such restrictions as they may from time to time determine.

9. The Directors may authorise the division of Shares into any number of Classes and the different Classes shall be authorised, established
and designated (or re-designated as the case may be) and the variations in the relative rights (including, without limitation, voting,
dividend and redemption rights), restrictions, preferences, privileges and payment obligations as between the different Classes (if any)
may be fixed and determined by the Directors or by an Ordinary Resolution. The Directors may issue Shares with such preferred or other
rights, all or any of which may be greater than the rights of Ordinary Shares, at such time and on such terms as they may think appropriate.
Notwithstanding Article 17, the Directors may issue from time to time, out of the authorised share capital of the Company, series of preferred
shares in their absolute discretion and without approval of the Shareholders; provided, however, before any preferred shares of any such
series are issued, the Directors may 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;(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;(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;(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;(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;(e) whether the preferred shares of such series shall have any rights to receive any part of the assets available for distribution amongst
the Shareholders 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;(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;(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;(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;(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;(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 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 Shareholders. Each Class A Ordinary Share shall entitle the holder thereof to one (1) vote on all matters subject to
vote at general meetings of the Company, and each Class B Ordinary Share shall entitle the holder thereof to twenty (20) votes on all
matters subject to vote at general meetings of the Company.

13. Class B Ordinary Shares shall not have any economic interest (save for the right to repayment of capital on a winding up, as set forth
in Article 157) and are not convertible into Class A Ordinary Shares or any other Class of Shares under any circumstances. Class A Ordinary
Shares are not convertible into Class B Ordinary Shares under any circumstances.

14. On a winding up of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;a. each Class A Ordinary Share shall confer upon the holder thereof the right to repayment of capital in accordance with these Articles
and the right to participate in the profits or surplus assets of the Company in accordance with these Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;b. each Class B Ordinary Share shall confer upon the holder thereof the right to repayment of capital in accordance with these Articles
but shall confer no other right to participate in the profits or surplus assets of the Company.

15. Each Class A Ordinary Share confers upon the holder thereof the right to receive dividends as provided for in these Articles. Class
B Ordinary Shares do not confer upon the holders thereof any rights to receive dividends.

16. Save and except for voting rights and conversion rights as set out in Articles 12 to 15 (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.

**MODIFICATION OF RIGHTS**

17. 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 materially and adversely varied with the consent in writing of the holders
of two-thirds of the issued 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 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 have one vote for each Share of the Class held by him. For the purposes of this Article the Directors may treat all the Classes
or any two or more Classes as forming one Class if they consider that all such Classes would be affected in the same way by the proposals
under consideration, but in any other case shall treat them as separate Classes.

18. 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 materially and adversely 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. The rights of the holders of Shares shall not be deemed to be materially and adversely varied
by the creation or issue of Shares with preferred or other rights including, without limitation, the creation of Shares with enhanced
or weighted voting rights.

**CERTIFICATES**

19. A Shareholder may only be entitled to a share certificate if the Directors resolve that share certificates shall be issued. Share
certificates representing Shares, if any, shall be in such form as the Directors may determine. Share certificates shall be signed by
one or more Directors or other person authorised by the Directors. The Directors may authorise certificates to be issued with the authorised
signature(s) affixed by mechanical process. All certificates for Shares shall be numbered or otherwise identified and shall specify the
Shares to which they relate. All certificates surrendered to the Company for transfer shall be cancelled and, subject to these Articles,
no new certificate shall be issued until the former certificate representing a like number of relevant Shares shall have been surrendered
and cancelled.

20. Every share certificate of the Company shall bear such legends as may be required under applicable laws, including the Securities
Act.

21. No certificate shall be issued representing shares of more than one class.

22. 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 Shareholder 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.

23. The Company shall not be bound to issue more than one certificate for Shares held jointly by more than one person. 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**

24. 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**

25. 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 is the sole registered holder of a Share or one of two
or more joint holders) for all amounts owing by him or his 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.

26. 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 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 death or bankruptcy.

27. For giving effect to any such sale the Directors may authorise 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 shall not be bound to see to the application
of the purchase money, nor shall his title to the Shares be affected by any irregularity or invalidity in the proceedings in reference
to the sale.

28. The proceeds of the sale after deduction of expenses, fees and commissions 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**

29. 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 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 authorising such call was passed.

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

31. 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 such rate as the Directors may determine from the day appointed for payment of the call to the
time of the actual payment, but the Directors shall be at liberty to waive payment of that interest wholly or in part.

32. 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.

33. 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.

34. The provisions contained in these Articles in respect of calls shall apply to payments, whether on account of the amount of the Share,
or by way of premium, to be made on the allotment of a Share or any date fixed on the issue of the Share as if the same had become payable
by virtue of a call duly made and notified.

**FORFEITURE OF SHARES**

35. 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
requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued.

36. The notice shall name a further day (not earlier than the expiration of fourteen 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.

37. 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.

38. 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.

39. 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 to the Company in respect of the Shares
forfeited, but his liability shall cease if and when the Company receives payment in full of the amount unpaid on the Shares forfeited.

40. 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.

41. 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 favour 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 title to the Shares be affected by any irregularity or invalidity in the proceedings in reference to the disposition
or sale.

42. 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**

43. 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 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. Subject to these Articles, any Shareholder may transfer all or any of his shares by an instrument of
transfer in the usual or common form or in a form prescribed by the Designated Stock Exchange or in any other form approved by the Board
and may be under hand or, if the transferor or transferee is a clearing house or a central depository house or its nominee(s), by hand
or by machine imprinted signature or by such other manner of execution as the Board may approve from time to time.

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

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

&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;(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;(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.

45. The registration of transfers may, after compliance with any notice required by 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 forty calendar days in
any calendar year.

46. 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 two 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**

47. The legal personal representative of a deceased sole holder of a Share shall be the only Person recognised 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 recognised by the Company as having any title to the Share.

48. 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, 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.

49. 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 would be entitled if he were the registered Shareholder, except that he 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 to transfer the Share, and if the notice is not complied with within ninety 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**

50. The Company shall be entitled to charge a fee not exceeding one 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**

51. 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 and with such rights, priorities and privileges annexed thereto, as the Company
in general meeting may determine.

52. The Company may by Ordinary Resolution:

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

&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;(c) divide its Shares into several classes and without prejudice to any special rights previously conferred on the holders of existing
Shares attach thereto respectively any preferential, deferred, qualified or special rights, privileges, conditions or such restrictions
which in the absence of any such determination by the Company in general meeting, as the Directors may determine provided always that,
for the avoidance of doubt, where a Class of Shares
has been authorised by the Company, no resolution of the Company in general meeting is required for the issuance of Shares of that Class
and the Directors may issue Shares of that Class and determine such rights, privileges, conditions or restrictions attaching thereto as
aforesaid, and further provided that where the Company issues shares which do not carry voting rights, the words "non-voting"
shall appear in the designation of such Shares and where the equity capital includes shares with different voting rights, the designation
of each Class of Shares, other than those with the most favourable voting rights, must include the words "restricted voting"
or "limited voting";

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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;(e) 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.

53. All new Shares created in accordance with the provisions of the preceding Article shall be subject to the same provisions of the Articles
with reference to the payment of calls, Liens, transfer, transmission, forfeiture and otherwise as the Shares in the original share capital.
The Board may settle as it considers expedient any difficulty which arises in relation to any consolidation and division under the preceding
Article and in particular but without prejudice to the generality of the foregoing may arrange for the sale of the shares representing
fractions and the distribution of the net proceeds of sale (after deduction of the expenses of such sale) in due proportion amongst the
Shareholders who would have been entitled to the fractions, and for this purpose the Board may authorise some person to transfer the shares
representing fractions to their purchaser or resolve that such net proceeds be paid to the Company for the Company's benefit. Such
purchaser will not be bound to see to the application of the purchase money nor will his title to the shares be affected by any irregularity
or invalidity in the proceedings relating to the sale.

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

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

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

&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 the Board;

&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 are otherwise authorised by these Articles; and

&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.

56. 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.

57. 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 the purchase or redemption monies or consideration in respect thereof.

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

**TREASURY SHARES**

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

60. 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).

**GENERAL MEETINGS**

&nbsp;&nbsp;&nbsp;&nbsp;61. All general meetings other than annual general meetings shall
be called extraordinary general meetings. 62.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company may (but shall not be obliged to) in each calendar year hold a general meeting as its annual general meeting and shall
specify the meeting as such in the notices calling it. The annual general meeting shall be held at such time and place as may be determined
by the Directors.

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

63. &nbsp;&nbsp;&nbsp;&nbsp;(a) The Chairman or a majority of the Directors (acting by a resolution of the Board) 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;(b) A Shareholders' requisition is a requisition of Shareholders holding at the date of deposit of the requisition Shares which
carry in aggregate not less than one-tenth (1/10) of the total number of votes attaching to all issued and outstanding Shares that as
at the date of the deposit carry the right to vote at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The requisition must state the objects of the meeting 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;(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 more than one-half of the total voting rights
of all of them, may themselves convene a general meeting, but any meeting so convened shall not be held after the expiration of three
calendar months after the expiration of the said twenty-one (21) calendar days.

&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.

**NOTICE OF GENERAL MEETINGS**

64. At least seven (7) clear days' notice shall be given for any general meeting. 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, 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 by shareholders holding at least 90% of the total voting rights on all the matters to be considered
at the meeting.

65. 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**

66. No business except for the appointment of a chairman 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 one-third 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.

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

68. If the Directors wish to make this facility available for a specific general meeting or all general meetings of the Company, attendance
and participation in any 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 will be utilised (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 utilise such Communication
Facilities for the purposes of attending and participating in such meeting, including attending and casting any vote thereat.

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

70. The chairman of any general meeting shall be entitled to attend and participate at any such general meeting by means of Communication
Facilities, and to act as the chairman of such general meeting, in which event the following provisions shall apply:

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Communication Facilities are interrupted or fail for any reason to enable the chairman 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 chairman 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.

71. The chairman of any general meeting at which a quorum is Present may with the consent of the meeting (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.

72. 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 or for no reason, upon notice in writing to Shareholders.
A postponement may be for a stated period of any length or indefinitely as the Directors may determine.

73. At any general meeting a resolution put to the vote of the meeting shall be decided by poll.

74. The result of the poll shall be deemed to be the resolution of the meeting.

75. 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, the chairman of the meeting shall be entitled to a second or casting
vote.

**VOTES OF SHAREHOLDERS**

76. Subject to any rights and restrictions for the time being attached to any Share, every Shareholder Present in person or represented
by its duly authorised representative or proxy shall have one (1) vote for each Class A Ordinary Share and twenty (20) votes for each
Class B Ordinary Share of which such Shareholder is the holder.

77. 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 authorised 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.

78. 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 by his 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.

79. 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 in respect of Shares carrying the right to vote held by him have been paid.

80. Votes may be given either personally or by proxy.

81. Each Shareholder, other than a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)), may only appoint one
proxy. The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney duly authorised in writing
or, if the appointor is a corporation, either under Seal or under the hand of an officer or attorney duly authorised. A proxy need not
be a Shareholder.

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

83. 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 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, 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 chairman of the meeting may in any event at his 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.

84. 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 authorised 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**

85. Any corporation which is a Shareholder or a Director may by resolution of its directors or other governing body authorise 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 authorised shall be entitled to exercise the same powers on behalf of the corporation
which he represents as that corporation could exercise if it were an individual Shareholder or Director.

**DEPOSITARY AND CLEARING HOUSES**

86. If a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Shareholder of the Company it may, by resolution
of its directors or other governing body or by power of attorney, authorise 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 authorised, the authorisation
shall specify the number and Class of Shares in respect of which each such Person is so authorised. A Person so authorised pursuant to
this Article shall be entitled to exercise the same powers on behalf of the recognised clearing house (or its nominee(s)) or depositary
(or its nominee(s)) which he represents as that recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)) could
exercise if it were an individual Shareholder holding the number and Class of Shares specified in such authorisation, including the right
to vote individually.

**DIRECTORS**

87. &nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise determined by the Company in general meeting, the number of Directors shall not be less than two (2) Directors, the
exact number of Directors to be determined from time to time by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Board of Directors shall elect and appoint a Chairman by a majority of the Directors then in office. The period for which the
Chairman will hold office will also be determined by a majority of all of the Directors then in office. The Chairman shall preside as
chairman at every meeting of the Board of Directors. To the extent the Chairman
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 chairman of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company may by Ordinary Resolution appoint any person to be a Director.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 Board.

&nbsp;&nbsp;&nbsp;&nbsp;(e) An appointment of a Director may be on terms that the Director shall automatically retire from office (unless he 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.

88. A Director may be removed from office by an Ordinary Resolution, notwithstanding anything in these Articles or in any agreement between

the removal of a Director under the previous sentence may be filled by an Ordinary Resolution or by the affirmative vote of a simple majority
of the remaining Directors present and voting at a Board meeting. 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 removal.

89. 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.

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

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

92. 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.

**ALTERNATE DIRECTOR OR PROXY**

93. Any Director may in writing appoint another Person to be his 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 is not personally present and where he is a Director to have
a separate vote on behalf of the Director he is representing in addition to his own vote. A Director may at any time in writing revoke
the appointment of an alternate appointed by him. 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. The remuneration of such alternate shall be payable out of the remuneration of the Director
appointing him and the proportion thereof shall be agreed between them.

94. Any Director may appoint any Person, whether or not a Director, to be the proxy of that Director to attend and vote on his 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 chairman 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**

95. 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.

96. 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 tenure of office be terminated.

97. 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.

98. 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.

99. 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 authorised signatory (any such Person being an "Attorney" or "Authorised 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 Authorised Signatory as the
Directors may think fit, and may also authorise any such Attorney or Authorised Signatory to delegate all or any of the powers, authorities
and discretion vested in him.

100. 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.

101. 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.

102. 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 authorise 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.

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

**BORROWING POWERS OF DIRECTORS**

104. 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**

105. 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 affixing
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.

106. 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 affixing
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.

107. 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**

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(e) is prohibited by law from being a director; or

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

**PROCEEDINGS OF DIRECTORS**

109. The Directors may meet together (either within or outside the Cayman Islands) for the despatch 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 proxy or alternate shall be entitled to one vote.
In the case of an equality of votes, the chairman shall not 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.

110. 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.

111. The quorum necessary for the transaction of the business of the Board may be fixed by the Directors, and unless so fixed the presence
of two (2) Directors then in office shall constitute a quorum. 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.

112. 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 interest at a meeting of the Directors. A general notice given to the Directors by any
Director to the effect that he 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 chairman of the relevant
Board meeting, a Director may vote in respect of any contract or transaction or proposed contract or transaction notwithstanding that
he may be interested therein and if he does so his vote shall be counted and he 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.

113. A Director may hold any other office or place of profit under the Company (other than the office of auditor) in conjunction with his
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 office from contracting with the Company either with regard to his 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 realised 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 interest, may be counted
in the quorum present at any meeting of the Directors whereat he 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 may vote on any such appointment or arrangement.

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

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

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

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

116. When the chairman 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.

117. 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 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 duly appointed alternate.

118. 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.

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

120. 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 chairman shall have a second or casting vote.

121. 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**

122. 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 dissent shall be entered in the minutes of the meeting or unless he shall file his written
dissent from such action with the person acting as the chairman 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 favour of such action.

**DIVIDENDS**

123. 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 authorise payment of the same out of the funds of the Company
lawfully available therefor.

124. 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.

125. 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 equalising 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.

126. 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 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 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.

127. 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.

128. 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.

129. 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.

130. No dividend shall bear interest against the Company.

131. 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**

132. 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.

133. 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.

134. 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 authorised by the Directors.

135. 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.

136. The Directors may appoint an auditor of the Company who shall hold office until removed from office by a resolution of the Directors
and may fix his or their remuneration.

137. Every auditor of the Company shall have a right of access at all times to the books and accounts and vouchers of the Company and shall
be entitled to require from the Directors and officers of the Company such information and explanation as may be necessary for the performance
of the duties of the auditors.

138. 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 Shareholders.

139. 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.

**CAPITALISATION OF RESERVES**

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve to capitalise 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;(b) appropriate the sum resolved to be capitalised 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;(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;(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;(c) make any arrangements they think fit to resolve a difficulty arising in the distribution of a capitalised 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;(d) authorise 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;(i) the allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures to which they may be entitled on the
capitalisation, or

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

141. Notwithstanding any provisions in these Articles and subject to the Companies Act, the Directors may resolve to capitalise 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;(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 Shareholders; or

&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 Shareholders.

**SHARE PREMIUM ACCOUNT**

142. 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.

143. 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**

144. Except as otherwise provided in these Articles, any notice or document may be served by the Company or by the Person entitled to give
notice to any Shareholder either personally, or by posting it by airmail or a recognised courier service in a prepaid letter addressed
to such Shareholder at his address as appearing in the Register, or by electronic mail to any electronic mail address such Shareholder
may have specified in writing for the purpose of such service of notices, or by facsimile to any facsimile number such Shareholder may
have specified in writing for the purpose of such service of notices, or by placing it on the Company's Website should the Directors
deem it appropriate. 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.

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

146. Any Shareholder Present 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.

147. Any notice or other document, if served by:

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

&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;(c) recognised 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;(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.

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.

148. 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
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 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) in the Share.

&nbsp;&nbsp;&nbsp;&nbsp;149. Notice of every general meeting of the Company shall be given to:

&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;(b) every Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who but for his 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**

150. Subject to the relevant laws, rules and regulations applicable to the Company, no Shareholder 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 Shareholders of the Company to communicate to the public.

151. 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 Shareholders
including, without limitation, information contained in the Register and transfer books of the Company.

**INDEMNITY**

152. 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 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. To the extent permissible under applicable laws, the Shareholders waive any claim or right of action
that they may have, both individually and on the Company's behalf, against any Director in relation to any action or failure to
take action by such Director in the performance of his or her duties with or for the Company, except in respect of any dishonesty, willful
default or fraud of such Director.

153. No Indemnified Person shall be liable:

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

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

&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;(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**

154. Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31 December in each calendar year and shall
begin on 1 January in each calendar year.

**NON-RECOGNITION OF TRUSTS**

155. No Person shall be recognised 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 recognise (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**

156. 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 Shareholders 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 Shareholders or different classes of Shareholders. 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 Shareholders as the liquidator, with the like
sanction, shall think fit, but so that no Shareholder shall be compelled to accept any asset upon which there is a liability.

157. If the Company shall be wound up, and the assets available for distribution amongst the Shareholders
 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 Shareholders in proportion to the par value of the Shares held by them. If in a winding up the assets
 available for distribution amongst the Shareholders 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 Shareholders 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**

158. 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**

159. 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 forty calendar days in any calendar year.

160. In lieu of or apart from closing the Register, the Directors may fix in advance or arrears a date as the record date for any such
determination of those Shareholders.

161. 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**

162. 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**

163. The Directors, or any service providers (including the officers, the Secretary and the registered office provider of the Company)
specifically authorised by the Directors, shall be entitled to disclose to any regulatory or judicial authority any information regarding
the affairs of the Company including without limitation information contained in the Register and books of the Company.