# EDGAR Filing Document

**Accession Number:** 0001867729
**File Stem:** 0001104659-25-105980
**Filing Date:** 2025-11
**Character Count:** 959626
**Document Hash:** 22cc2d9a084198b4e0806989b833e270
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-105980.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0001104659-25-105980

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20251104

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WeRide Inc.
- **CENTRAL INDEX KEY:** 0001867729
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42213
- **FILM NUMBER:** 251446792

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 21ST FL, TOWER A, NO. 51, XINGJI 1ST RD
- **STREET 2:** GUANZHOU LIFE SCIENCE CENTER
- **CITY:** GUANZHOU
- **PROVINCE COUNTRY:** F4
- **ZIP:** 510300
- **BUSINESS PHONE:** 86 150 1055 1533

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 21ST FL, TOWER A, NO. 51, XINGJI 1ST RD
- **STREET 2:** GUANZHOU LIFE SCIENCE CENTER
- **CITY:** GUANZHOU
- **PROVINCE COUNTRY:** F4
- **ZIP:** 510300

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**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 November 2025**

**Commission File Number: 001-42213**

**WeRide Inc.**

**21st Floor, Tower A, Guanzhou Life Science Innovation Center<br> No. 51, Luoxuan Road, Guangzhou International Biotech Island<br> Guangzhou 510005<br> People's Republic of China**

(Address of principal executive offices)

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

Form 20-F ⌧ Form 40-F ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ◻

**INCORPORATION BY REFERENCE**

Exhibit 1.1 and Exhibit 1.2 to this Report on Form 6-K shall be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration No. 333-286106) and the registration statement on Form F-3ASR (Registration No. 333-291214) of WeRide Inc. and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| [1.1](tm2530110d1_ex1-1.htm) | [Form of International Underwriting Agreement](tm2530110d1_ex1-1.htm) |
| [1.2](tm2530110d1_ex1-2.htm) | [Hong Kong Underwriting Agreement dated October 27, 2025](tm2530110d1_ex1-2.htm) |
| [99.1](tm2530110d1_ex99-1.htm) | [Press Release — WeRide Inc. Announces Pricing of Global Offering](tm2530110d1_ex99-1.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.

---

| | | |
|:---|:---|:---|
| **WeRide Inc.** | **WeRide Inc.** | **WeRide Inc.** |
| By: |  |  |
|  | /s/ Jennifer Li | /s/ Jennifer Li |
|  | Name: | Jennifer Li |
|  | Title: | Chief Financial Officer |

---

Date: November 4, 2025

## Exhibit 1.1

**Exhibit 1.1**

**WERIDE INC.**

[●] Shares<br> (US$0.00001 per Share)

**INTERNATIONAL UNDERWRITING AGREEMENT**

November 3, 2025

**China International Capital Corporation Hong Kong Securities Limited ("CICC")**

29/F, One International Finance Centre

1 Harbour View Street

Central

Hong Kong

**Morgan Stanley Asia Limited ("MS")**

Level 46, International Commerce Centre

1 Austin Road West

Kowloon

Hong Kong

(\* in alphabetical order)

as the Joint Sponsors (as defined below)

**J.P. Morgan Securities (Asia Pacific) Limited ("JPM AP")**

28/F, Chater House

8 Connaught Road, Central

Hong Kong

as the Overall Coordinators (as defined herein) and the Joint Global Coordinators (as defined below) acting on behalf of the several International Underwriters named in Schedule I hereto

Ladies and Gentlemen:

**WeRide Inc.**, a limited liability company incorporated under the laws of the Cayman Islands on March 13, 2017 as an exempted company, having its registered office at P.O. Box 472, Harbour Place, 2nd Floor, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands (the "**Company**"), proposes, subject to the terms and conditions stated herein, to issue and sell to the several international underwriters named in hereto (the "**International Underwriters**") or to the purchasers procured by the International Underwriters (the "**subsequent purchasers**") [●] Class A ordinary shares of nominal value US$0.00001 per share ("**Shares**") to be listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "**Stock Exchange**") and traded in Hong Kong dollars. The [●] Class A ordinary shares in aggregate initially to be sold by the Company are herein called the "**Firm Shares**". In addition, the Company proposes to grant to the International Underwriters the option to purchase themselves or through their respective Affiliates (as defined below) from the Company up to [●] additional Shares (the "**Over-allotment Option Shares**") to, among other things, cover over-allocations. The Firm Shares and the Over-allotment Option Shares are herein referred to collectively as the "**International Offer Shares**". CICC entered into a Stock Borrowing Agreement with Yanli Holdings Limited on October 31, 2025. The offering and sale of the International Offer Shares under this Agreement is herein referred to as the "**International Offering**".

**Xu Han (韓旭)**, **Tonyhan Limited** and **Xu Han Limited** are collectively referred to as the "**Single Largest Group of Shareholders**" and the Company and the Single Largest Group of Shareholders are collectively referred to as the "**Warrantors**" in this Agreement.

The Company has entered into an agreement dated October 27, 2025 (the "**Hong Kong Underwriting Agreement**") relating to the concurrent offering and sale by the Company to the public in the Hong Kong Special Administrative Region ("**Hong Kong**") of the People's Republic of China (the "**PRC**") of initially an aggregate of [●] Shares (the "**Hong Kong Offer Shares**"), to be underwritten through arrangements with certain underwriters in Hong Kong (the "**Hong Kong Underwriters**"). The offering and sale of the Hong Kong Offer Shares is herein referred to as the "**Hong Kong Public Offering**". Except as the context may otherwise require, the International Offering and the Hong Kong Public Offering are referred to herein collectively as the "**Global Offering**", the Hong Kong Underwriters and the International Underwriters are referred to herein collectively as the "**Underwriters**", and the International Offer Shares and the Hong Kong Offer Shares are referred to herein collectively as the "**Offer Shares**". Anything herein or therein to the contrary notwithstanding, the respective closings under this Agreement and the Hong Kong Underwriting Agreement are hereby made expressly conditional on one another.

The International Offer Shares are being offered at a price of HK$[●] per Share (the "**International Offer Price**") and the Hong Kong Offer Shares are being offered at a price of HK$[●] per Share (the "**Hong Kong Offer Price**"), which are exclusive of a brokerage fee per Share of [●]% of the International Offer Price, or the Hong Kong Offer Price, as the case may be (the "**Brokerage**"), SFC transaction levy per Share of 0.0027% of the International Offer Price, or the Hong Kong Offer Price, as the case may be (the "**SFC Transaction Levy**") imposed by the Securities and Futures Commission of Hong Kong (the "**SFC**"), AFRC transaction levy per Share of 0.00015% of the International Offer Price, or the Hong Kong Offer Price, as the case may be (the "**AFRC Transaction Levy**") imposed by the Accounting and Financial Reporting Council (the "**AFRC**"), and Stock Exchange trading fee per Share of 0.00565% of the International Offer Price, or the Hong Kong Offer Price, as the case may be (the "**Trading Fee**"), in each case, payable by purchasers of the International Offer Shares or Hong Kong Offer Shares, as applicable. The Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy are also payable by the Company with respect to the Offer Shares.

CICC and MS are acting as the joint sponsors of the Company's application for listing (the "**Joint Sponsors**"). CICC, MS and JPM AP are acting as the overall coordinators (the "**Overall Coordinators**") and the joint global coordinators for the Global Offering (the "**Joint Global Coordinators**"). CICC, MS, JPM AP, BOCI Asia Limited ("**BOCI**"), Futu Securities International (Hong Kong) Limited ("**Futu**"), Daiwa Capital Markets Hong Kong Limited ("**Daiwa**"), ABCI Capital Limited ("**ABCI Capital**") and ICBC International Securities Limited ("**ICBCI**") shall act as the joint bookrunners for the International Offering (the "**Joint Bookrunners**"). CICC, MS, JPM AP, BOCI, Futu, Daiwa, ABCI Securities Company Limited ("**ABCI Securities**") and ICBCI shall act as the joint lead managers for the International Offering (the "**Joint Lead Managers**"). CICC, MS, JPM AP, BOCI, Futu, Daiwa, ABCI Capital, ABCI Securities and ICBCI shall act as the capital market intermediaries (the **CMIs**") for the Global Offering. The International Underwriters and the Hong Kong Underwriters are simultaneously entering into an agreement between the international and Hong Kong underwriting syndicates (the "**Inter-syndicate Agreement**"), which provides, among other things, that the Overall Coordinators shall have the right to reallocate the International Offer Shares and the Hong Kong Offer Shares among the underwriting syndicates. The Company hereby acknowledges the appointment of the Overall Coordinators, Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the CMIs.

A prospectus dated October 28, 2025 (the "**Hong Kong Prospectus**") has been prepared and used in connection with the Hong Kong Public Offering. In conjunction with the Global Offering, the Company has made an application for listing the Shares on the Main Board of the Stock Exchange, and CICC and MS are acting as the Joint Sponsors and CICC and MS are acting as the sponsor-overall coordinators of the Company's application for listing (the "**Sponsor-OCs**").

The Company has filed with the United States Securities and Exchange Commission (the "**SEC**") a registration statement on Form F-3 (File No. 333-291214), including a related prospectus relating to the Offer Shares. The registration statement as amended at the time it becomes effective, including the information (if any) deemed to be part of the registration statement at the time of its effectiveness pursuant to Rule 430A and 430B under the Securities Act of 1933, as amended (the "**Securities Act**"), is hereinafter referred to as the "**Registration Statement**"; and the related prospectus dated November 3, 2025 in the form first used to confirm sales of the Offer Shares (or in the form first made available to the Underwriters by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the "**Base Prospectus**." The Base Prospectus, as supplemented by the prospectus supplement specifically relating to the Offer Shares in the form first used to confirm sales of the Offer Shares (or in the form first made available to the Underwriters by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the "Final Prospectus," and the term "preliminary prospectus" means the preliminary prospectus supplement specifically related to the Offer Shares dated November 3, 2025 (which attaches the Base Prospectus). The Company has filed, in accordance with Section 12 of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), a registration statement, as amended, on Form 8-A (the "**Form 8-A Registration Statement**") to register the Shares and the American depository shares (the "**ADS**"), under Section 12(b) of the Exchange Act.

For purposes of this Agreement, "**free writing prospectus**" has the meaning set forth in Rule 405 under the Securities Act, "**Time of Sale Prospectus**" means the preliminary prospectus together with the documents and pricing information set forth in Schedule II hereto, and "**broadly available road show**" means a "bona fide electronic road show" as defined in Rule 433(h)(5) under the Securities Act that has been made available without restriction to any person. "**Time of Sale**" means the time when sales of the International Offer Shares were first made, which for purposes of this Agreement is [10:00] p.m., New York time on the date of this Agreement. As used herein, the terms "Registration Statement," "Base Prospectus," "preliminary prospectus," "Time of Sale Prospectus" and "Final Prospectus" shall include the documents, if any, incorporated by reference therein as of the date hereof. The terms "supplement," "amendment," and "amend" as used herein with respect to the Registration Statement, the Base Prospectus, the Time of Sale Prospectus, any preliminary prospectus or the Final Prospectus shall include all documents subsequently filed by the Company with the Commission pursuant to the Exchange Act, that are deemed to be incorporated by reference therein.

Capitalized terms used and not defined herein shall have the meanings set forth in the Hong Kong Underwriting Agreement. The terms "herein", "hereof", "hereto", "hereinafter" and similar terms as used in this Agreement shall in each case refer to this Agreement as a whole and not to any particular section, paragraph, sentence or other subdivision of this Agreement. The term "or" as used herein is not exclusive. The term "**business day**" as used herein shall mean a day (other than Saturday or Sunday) on which banking institutions in the PRC, Hong Kong and New York are all open generally for normal banking business and on which the Stock Exchange is open for business of dealing in securities.

As used herein, "**Affiliate**" has the meaning as defined in Rule 501(b) of Regulation D under the Securities Act; "**Laws**" means all laws, rules, regulations, guidelines, opinions, notices, circulars, orders, codes, policies, consents, judgments, decrees or rulings of any court, government, law enforcement agency, governmental or regulatory authority whether national, federal, provincial, regional, state, municipal or local, domestic or foreign (including, without limitation, the Stock Exchange, the SFC, the SEC and the CSRC) of all relevant jurisdictions (including, without limitation, Hong Kong, the PRC, the Cayman Islands and the United States), including, without limitation, the Listing Rules, the Code of Conduct, the Companies Ordinance, the Companies (Winding up and Miscellaneous Provisions) Ordinance (the "**C(WUMP)O**"), the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (境內企業境外發行證券和上市管理試行辦法) and supporting guidelines (the "**CSRC Filing Rules**") issued by the China Securities Regulatory Commission (the "**CSRC**"), the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (關於加強境內企業境外發行證券和上市相關保密和檔案管理工作的規定) (the "**CSRC Archive Rules**", and together with the CSRC Filing Rules, the "**CSRC Rules**"); "**Approvals and Filings**" means all approvals, sanctions, consents, permissions, certificates, authorizations, licenses, permits, clearances, orders, concessions, qualifications, registrations, declarations and franchises from any person, and filings and registrations with any person, of any relevant jurisdictions, including, without limitation, Hong Kong, the PRC, the Cayman Islands and the United States; "**Governmental Authority**" means any administrative, governmental, legislative or regulatory commission, board, body, authority or agency, or any stock exchange, self-regulatory organization or other non-governmental regulatory authority, or any court, tribunal or arbitrator, in each case whether national, central, federal, provincial, state, regional, municipal, local, domestic, foreign or supranational, including, without limitation, the CSRC, the Stock Exchange, the SFC and the SEC; "**Taxes**" or "**Taxation**" means all forms of taxation whenever created, imposed or arising and whether of Hong Kong, the PRC, the Cayman Islands and the United States or of any other part of the world and, without prejudice to the generality of the foregoing, includes all forms of taxation on or relating to profits, salaries, interest and other forms of income, taxation on capital gains, sales and value added taxation, business tax, estate duty, death duty, capital duty, stamp duty, payroll taxation, withholding taxation, rates and other taxes or charges relating to property, customs and other import and excise duties, and generally any taxation, fee, assessment, duty, impost, levy, rate, charge or any amount payable to taxing, revenue, customs or fiscal Governmental Authorities whether of Hong Kong, the PRC, Cayman Islands, the United States or of any other part of the world, whether by way of actual assessment, withholding, loss of allowance, deduction or credit available for relief or otherwise, and including all interest, additions to tax, penalties or similar liabilities arising in respect of any taxation; and "**Encumbrance**" means any mortgage, charge, pledge, lien, option, restriction, right of first refusal, equitable right, power of sale, hypothecation, retention of title, right of pre-emption or other third party claim, claim, defect, right, interest or preference granted to any third party, or any other encumbrance or security interest of any kind, or an agreement, arrangement or obligation to create any of the foregoing. References in this Agreement to knowledge, information, belief or awareness or similar terms ("**knowledge**") of any person shall be treated as including but not limited to any knowledge, information, belief and awareness which the person would have had if such person had made due, diligent and careful enquiries.

**1.** **Sale and Purchase** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the basis of the representations
 and warranties and subject to the terms and conditions herein set forth, the Company agrees
 to issue and sell to the several International Underwriters or their respective Affiliates,
 or to the subsequent purchasers, and each of the International Underwriters, severally but
 not jointly, agrees to purchase itself or through its Affiliates from the Company, or to
 procure purchasers for, the number of Firm Shares set forth opposite the name of such International
 Underwriter in Part B of Schedule I hereto (subject to any reallocation of Offer Shares
 by the Overall Coordinators between the International Offering and the Hong Kong Public Offering
 and subject to adjustment in accordance with Section 11 hereof), at the International
 Offer Price.

In addition, the Company hereby grants to the several International Underwriters the option (the "**Over-allotment Option**"), severally but not jointly, to purchase itself or through its Affiliates, or procure purchasers for, up to the number of Over-allotment Option Shares from the Company at the International Offer Price; upon the basis of the representations and warranties and subject to the terms and conditions herein set forth, each of the International Underwriters shall have the right, severally but not jointly, to purchase, itself or through its Affiliates, all or a portion of the Over-allotment Option Shares from the Company at the International Offer Price to cover, among other things, over-allocations made in connection with the offering of the Firm Shares. The Over-allotment Option may be exercised by the Overall Coordinators in their sole and absolute discretion for themselves and on behalf of the several International Underwriters at any time and from time to time on or before the expiration of the period of thirty (30) calendar days from the last day for the lodging of applications under the Hong Kong Public Offering by written notice, substantially in the form set forth in Exhibit E hereto, to the Company. Such notice shall set forth the aggregate number of Over-allotment Option Shares as to which the Over-allotment Option is being exercised and the date and time when the Over-allotment Option Shares are to be delivered; *provided, however, that* no such date and time of delivery of the Over-allotment Option Shares shall be earlier than the First Time of Delivery (as defined in Section 2 hereof) nor, unless the Overall Coordinators and the Company otherwise agree in writing, earlier than the second, or later than the tenth, business day after the date on which the Over-allotment Option shall have been exercised. Upon any exercise of the Over-allotment Option, the number of Over-allotment Option Shares to be purchased by each International Underwriter and its Affiliates shall be the number (subject to such adjustment as the Overall Coordinators may determine to avoid fractional shares or otherwise ensure the administration of the delivery) which bears the same proportion to the total number of Over-allotment Option Shares being purchased by the several International Underwriters and their respective Affiliates pursuant to such exercise as the number of Firm Shares set forth opposite the name of such International Underwriter in Part B of Schedule I hereto bears to the total number of Firm Shares, subject to any reallocation of the Offer Shares between the International Offering and the Hong Kong Public Offering and subject to adjustment in accordance with Section 11 hereof.

The Overall Coordinators, on behalf of the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters, will jointly advise the Company on the manner and basis of allocation of the International Offer Shares, and a final allocation shall be confirmed and determined by the Company. Upon the authorization by the Overall Coordinators of the release of the Firm Shares, the several International Underwriters propose to offer the Firm Shares for sale themselves or through their respective affiliates. The Company acknowledges and agrees that, in the sole and absolute discretion of each International Underwriter, the sale of the International Offer Shares by such International Underwriter itself or through its affiliates shall be made by it as agent of the Company under applicable Laws to procure purchasers for the International Offer Shares (in which case the purchase obligation of such International Underwriter under this subsection (a) shall be reduced ***pro tanto***) or, failing which, as principal to purchase itself or through its Affiliates the International Offer Shares, and, accordingly, the Company appoints each International Underwriter together with its Affiliates as agents under applicable Laws and confer on them the powers, authority and discretion on behalf of the Company that are necessary solely to procure purchasers for the International Offer Shares upon the basis of the representations and warranties and subject to the terms and conditions herein set forth; *provided, however, that* any International Underwriter or its Affiliates selling International Offer Shares as agent of the Company pursuant to this subsection (a) and under applicable Laws will remain obligated to pay to the Company the International Offer Price for such International Offer Shares as if such International Underwriters were purchasing such International Offer Shares as principal. In view of the foregoing, a purchase of International Offer Shares may include a subscription for International Offer Shares of the Company and a sale of International Offer Shares may include an allotment of International Offer Shares by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Warrantors, the Joint Sponsors, the
 Overall Coordinators, the Joint Global Coordinators and the International Underwriters agree
 that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) under the direction of the Overall Coordinators,

(A) if the Firm Shares are fully subscribed or oversubscribed and the number of Hong Kong Offer Shares validly applied for under the Hong Kong Public Offering represents 10 times or more but less than 50 times the number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering, then the Firm Shares will be reallocated to the Hong Kong Public Offering from the International Offering such that the total number of Hong Kong Offer Shares initially available under the Hong Kong Public Offering will be [●], representing 10.0% of the total number of Offer Shares initially available under the Global Offering (excluding the Over-allotment Option Shares),

(B) if the Firm Shares are fully subscribed or oversubscribed and the number of Hong Kong Offer Shares validly applied for under the Hong Kong Public Offering represents 50 times or more of the number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering, then the Firm Shares will be reallocated to the Hong Kong Public Offering from the International Offering such that the total number of Hong Kong Offer Shares initially available under the Hong Kong Public Offering will be [●], representing 20.0% of the total number of Offer Shares initially available under the Global Offering (excluding the Over-allotment Option Shares),

(C) if (i) the Firm Shares are undersubscribed and the Hong Kong Offer Shares are fully subscribed or oversubscribed irrespective of the number of times, or (ii) the Firm Shares are fully subscribed or oversubscribed and the Hong Kong Offer Shares are fully subscribed or oversubscribed as to less than 10 times of the number of Hong Kong Offer Shares initially available under the Hong Kong Public Offering, up to [●] Offer Shares may be reallocated to the Hong Kong Public Offering from the International Offering, so that the total number of the Offer Shares available under the Hong Kong Public Offering will be increased to [●] Offer Shares, representing 10.0% of the number of the Offer Shares initially available under the Global Offering (excluding the Over-allotment Option Shares), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) subject to the foregoing, the Overall
 Coordinators, in their sole and absolute discretion, may (but shall not be obliged to) reallocate
 Firm Shares initially allocated for the International Offering to the Hong Kong Public Offering
 to satisfy valid applications in pool A and pool B under the Hong Kong Public Offering;

and, in each of the cases of reallocation of Firm Shares to the Hong Kong Public Offering described in subsections (A) through (D) above (such reallocated Firm Shares being referred to herein as the "**Reallocated Shares**"), the number of Firm Shares available under the International Offering will be correspondingly reduced in such manner as the Overall Coordinators deem appropriate; the Reallocated Shares will be delivered to investors in the Hong Kong Public Offering specified by the Overall Coordinators in the same manner and at the same time as the Hong Kong Offer Shares originally included in the Hong Kong Public Offering; *provided, that* the International Underwriters shall be entitled to receive an amount equal to the gross commission on the Reallocated Shares (which gross commission is to be calculated in accordance with subsection (c) of this Section 1 so that, expressed as a percentage, such commission shall be the same per Reallocated Share as per International Offer Share) out of the amounts payable to the Company hereunder. For the avoidance of doubt and without prejudice to the payment by the Company of the incentive fee referred to in subsection (c) of this Section 1, no underwriting commission shall be payable by the Company to the Hong Kong Underwriters on any of the Reallocated Shares; *provided, further, that* the International Underwriters shall have no further payment or other obligations to the Company with respect to the Reallocated Shares, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Overall Coordinators in their sole
 and absolute discretion, may (but shall not be obliged to) reallocate all or some of the
 unsold Hong Kong Offer Shares in the event of an Under-Subscription (the "**Unsold Shares**") to the International Offering to one or more of the International Underwriters
 in such amounts as the Overall Coordinators and each such International Underwriter may agree,
 whereupon such International Underwriter shall become obligated to purchase, at the International
 Offer Price, the number of Unsold Shares that are reallocated to such International Underwriter; *provided, that* such International Underwriter shall be entitled to receive an amount
 equal to the gross commission on the number of Unsold Shares reallocated to it (which gross
 commission is to be calculated in accordance with subsection (c) of this Section 1
 so that, expressed as a percentage, such commission shall be the same per such reallocated
 Unsold Share as per International Offer Share) out of the amounts payable to the Company
 hereunder and, for the avoidance of doubt and without prejudice to the payment by the Company
 of the incentive fee referred to in subsection (c) of this Section 1, no underwriting
 commission shall be payable by the Company to the Hong Kong Underwriters on any of the Unsold
 Shares reallocated to the International Offering.

(c) In consideration of the agreement of the International Underwriters to purchase or procure purchasers for the International Offer Shares, the Company shall pay to the International Underwriters a gross commission for each International Offer Share (including each Unsold Share reallocated to the International Offering, each Reallocated Share reallocated to the Hong Kong Public Offering and each Over-allotment Option Share), which is equal to [●]% of the International Offer Price (which percentage includes [●]% of incentive fee to be paid to the International Underwriters ()"**International Underwriting Commission**") and a gross commission per Hong Kong Offer Shares to the Hong Kong Underwriters, which is equal to [●]% of the Hong Kong Offer Price (excluding each Unsold Share reallocated to the International Offering and each Reallocated Share reallocated to the Hong Kong Public Offering) (which percentage includes any incentive fee to be paid to the Hong Kong Underwriters) (the "**Hong Kong Underwriting Commission** ", together with International Underwriting Commission, the "**Underwriting Commission** "). The gross commission shall be allocated among the International Underwriters in the same proportions to the number of Firm Shares set forth opposite the names of the International Underwriters as set in Part B of Schedule I hereto. The gross commission for the Hong Kong Public Offering shall be allocated among the Hong Kong Underwriters in the same proportion as the percentage of the Hong Kong Offer Shares underwritten by the Hong Kong Underwriters set forth in Schedule 1 to the Hong Kong Underwriting Agreement opposite the names of the Hong Kong Underwriters. The Company acknowledges that it has been advised by the Overall Coordinators the market's practice on the ratio of the fixed and discretionary incentive fees to be paid to the syndicate Capital Market Intermediaries. The Company agrees that the gross commission and incentive fee in connection with the sale of International Offer Shares and the gross commission and incentive fee payable pursuant to the Hong Kong Underwriting Agreement in connection with the sale of Hong Kong Offer Shares, in aggregate be borne by them pro rata to the number of Shares that they are selling in the Global Offering. The Overall Coordinators shall allocate the Underwriting Commission among all Underwriters in accordance with the proportions as the percentage of Shares set forth opposite the name of the relevant Underwriter in Part A of Schedule I hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In connection with the Global Offering,
 China International Capital Corporation Hong Kong Securities Limited and/or any person acting
 for it is expected to act as stabilizing manager (the "**Stabilizing Manager** ")
 and may (but shall not be obliged to, and not as agent of the Company, to the extent permitted
 by applicable Laws, over-allocate or effect transactions in the market or otherwise (whether
 in Hong Kong or elsewhere) with a view to stabilizing or maintaining the market price of
 the Shares at a level higher than that which might otherwise prevail in the open market for
 a limited period after the commencement of trading in the Shares. The Stabilizing Manager
 may, in its sole and absolute discretion, appoint any person(s) to be its agent or agents
 for the purposes of taking any stabilization action pursuant to this subsection (d). Any
 such agent or agents shall have the rights and authorities conferred upon the Stabilizing
 Manager pursuant to this subsection (d). Stabilization actions taken pursuant to this subsection
 (d), if commenced, may be discontinued at any time in the sole and absolute discretion of
 the Stabilizing Manager, or any person acting for it. Each of the International Underwriters
 (other than the Stabilizing Manager, or any person acting for it) hereby undertakes severally
 but not jointly to each other party (including the Stabilizing Manager, the Overall Coordinators
 and the Joint Global Coordinators) to this Agreement that it will not take or cause or authorize
 any person to take, and shall cause its Affiliates and/or agents not to take, directly or
 indirectly (in the open market or otherwise), any stabilization action or any action which
 is designed to or which constitutes or which might be expected to cause or result in the
 stabilization or maintenance of the price of any security of the Company. [Any expenses and
 losses resulting from such stabilization or other transactions effected pursuant to this
 clause shall be debited, and any profit arising from them shall be beneficially credited,
 by the Stabilizing Manager to a stabilization account the arrangement regarding which shall
 be a matter exclusively for the Stabilizing Manager and the International Underwriters governed
 by the Agreement Among International Underwriters. All liabilities, expenses and losses arising
 from stabilization activities and transactions effected by the Stabilizing Manager or any
 person acting for it as stabilizing manager shall be for the respective accounts of the Overall
 Coordinators in the same proportions, as nearly as may be practicable, as the respective
 international offering underwriting commitments of the Overall Coordinators as set out under
 Part B of Schedule I ()"**International Offering Underwriting Commitments** "),
 and may be deducted from the commissions payable to the Overall Coordinators. All profits
 or gains arising from stabilizing activities and transactions effected by the Stabilizing
 Manager or any person acting for it shall be for the respective account of the Overall Coordinators
 in accordance with the proportions with their and their respective affiliates' respective
 International Offering Underwriting Commitments bear to the total International Offering.

**2.** **Payment and Delivery** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company hereby appoints China International
 Capital Corporation Hong Kong Securities Limited as the settlement agent for the Global Offering
 (the "**Settlement Agent** "). By 10:00 a.m., Hong Kong time, on the date of
 the First Time of Delivery, or at such other time on the same date as shall be agreed with
 the Settlement Agent, each International Underwriter shall place settlement instructions
 in the Central Clearing and Settlement System ()"**CCASS**") matching the Settlement
 Agent's instructions in delivery versus payment settlement method. It is understood
 and agreed by the Company and the International Underwriters that proceeds received by each
 International Underwriter for the settlement will consist of the Offer Price, Brokerage,
 Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy payable by the purchasers
 of the International Offer Shares. The International Underwriters will arrange a similar
 settlement method for the purchase of Over-allotment Option Shares, if any, on one or more
 dates specified by the Overall Coordinators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The deliveries and payments described
 in subsection (c) of this Section 2 shall be made (A) with respect to the
 Firm Shares, at or around 5:00 p.m., Hong Kong time, on November 6, 2025 or such other
 time and date as the Settlement Agent and the Company may agree upon in writing, and (B) with
 respect to the Over-allotment Option Shares as to which the Over-allotment Option has been
 exercised, at or around 5:00 p.m., Hong Kong time, on the date specified by the Overall Coordinators
 in the written notice given by the Overall Coordinators of their exercise on behalf of the
 International Underwriters of the Over-allotment Option to purchase such Over-allotment Option
 Shares or such other time and date as the Overall Coordinators and the Company may agree
 upon in writing. Such time and date for delivery of, and payment for, the Firm Shares is
 herein referred to as the "**First Time of Delivery** "; such time and date
 for delivery of, and payment for, the Over-allotment Option Shares, if not the First Time
 of Delivery, is herein referred to as an "**Additional Time of Delivery** ";
 each such time and date for delivery and payment is herein called a "**Time of Delivery** ".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) By 9:30 a.m., Hong Kong time, on the date
 of each Time of Delivery, or at such other time on the same or such other date as shall be
 agreed with the Settlement Agent, the International Offer Shares to be purchased by (or by
 purchasers procured by) each International Underwriter or its Affiliates hereunder (including
 any Unsold Shares reallocated to the International Offering to such International Underwriter
 or its Affiliates pursuant to Section 1 hereof) shall be delivered by or on behalf of
 the Company to the Settlement Agent, in definitive form, and in such authorized denominations
 and registered in such names as the Overall Coordinators may, on behalf of such International
 Underwriter or its Affiliates, request by at least two business days' notice to the
 Company prior to each Time of Delivery, for dispatch or release to the purchasers of such
 International Offer Shares, or as the case may be, through the facilities of Hong Kong Securities
 Clearing Company Limited ()"**HKSCC**") for credit to the accounts of the Settlement
 Agent in CCASS as designated by the Settlement Agent, on behalf of such International Underwriters;
 the corresponding payment (equal to the proceeds received by the Settlement Agent from such
 International Underwriters through 4:00 p.m. on each Time of Delivery, less deductions explicitly
 permitted hereunder) will be made by wire transfer in Hong Kong dollars in immediately available
 funds by the Settlement Agent pursuant to subsection (b) of this Section 2 on behalf
 of the relevant International Underwriters or their respective Affiliates to such account
 or accounts specified by the Company in Schedule IV by at least two business days'
 notice prior to each Time of Delivery, which payment shall constitute a complete discharge
 of the Settlement Agent's obligations hereunder and fully discharge any payment obligations
 of such International Underwriter, the Overall Coordinators and the Joint Global Coordinators
 to the Company in respect of the purchase of the International Offer Shares by such International
 Underwriter hereunder. The Company will cause the certificates representing the International
 Offer Shares to be made available for checking with respect thereto at the office of Computershare
 Hong Kong Investor Services Limited at least one business day prior to each Time of Delivery.
 For the avoidance of doubt, the Settlement Agent shall not be liable for any failure on the
 part of the other International Underwriters to perform their obligations under this Agreement
 or other agreements related to the Global Offering, including but not limited to collecting
 funds from subsequent purchasers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) It is understood and agreed by the parties
 hereto that no delivery of International Offer Shares to be sold and purchased hereunder
 at a Time of Delivery shall be effective unless and until payment therefor has been made
 pursuant hereto and each of HKSCC and the Company shall have furnished or caused to be furnished
 to the Overall Coordinators, on behalf of the International Underwriters and their respective
 Affiliates, at such Time of Delivery, certificates and other evidence satisfactory to the
 Overall Coordinators of the issue and delivery of the International Offer Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) At each Time of Delivery, the Settlement
 Agent shall be entitled to deduct, on behalf of the Overall Coordinators, the Joint Global
 Coordinators, the Joint Bookrunners, the Joint Lead Managers and the International Underwriters
 and their respective Affiliates, from the amounts payable to the Company hereunder at such
 Time of Delivery (A) the International Underwriting Commission payable to the International
 Underwriters, pursuant to Section 1 hereof, (B) the aggregate amounts of the Trading
 Fee, the SFC Transaction Levy and the AFRC Transaction Levy payable by the Company, on the
 one hand, and purchasers of the International Offer Shares on the other hand (including any
 Unsold Shares reallocated to the International Offering), which the Settlement Agent will
 pay to the Stock Exchange and the SFC, as applicable, on behalf of the Company, (C) the
 aggregate amount of the Brokerage payable by purchasers of the International Offer Shares
 (including any Unsold Shares reallocated to the International Offering), which the Company
 hereby acknowledges and agrees that the International Underwriters will be entitled to retain
 for their account, (D) all stamp duty, if any, and (E) the amounts payable by the
 Company pursuant to Section 7 hereof. To the extent that the amounts deducted at any
 Time of Delivery from the amounts payable to the Company hereunder are insufficient to cover
 the amounts payable to the Settlement Agent, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers and the International Underwriters hereunder
 or other relevant parties, as applicable, the Company shall pay or cause to be paid in full
 the shortfall at such Time of Delivery or forthwith upon demand by the relevant party to
 which the amount is payable by the Company. The Brokerage payable by purchasers of the International
 Offer Shares (including any Unsold Shares reallocated to the International Offering) shall
 be shared by the International Underwriters in the proportions specified in Part C of Schedule
 I hereto, regardless whether the Over-allotment Option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) At each Time of Delivery or forthwith
 upon demand, to the extent that any amounts payable by the Company to the Settlement Agent,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs or the International Underwriters or the relevant parties hereunder,
 as applicable, are not or will not be deducted at such Time of Delivery from the amounts
 payable to the Company hereunder, the Company shall pay, or cause to be paid, in full such
 amounts to the Settlement Agent and the Overall Coordinators, for themselves or on behalf
 of the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs
 and the International Underwriters or to the relevant party to which the amount is payable
 by the Company, by wire transfer in Hong Kong dollars in immediately available funds to such
 account or accounts specified by the Settlement Agent, the Overall Coordinators, the Joint
 Global Coordinator or such relevant party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) For the avoidance of doubt, given the
 entitlements to the incentive fee of the International Underwriters have been determined
 before the First Time of Delivery (including relation to the Over-allotment Option Shares),
 the incentive fee with respect to the Offer Shares (including any Reallocated Shares reallocated
 to the Hong Kong Public Offering, any Unsold Shares reallocated to the International Offering
 and the Over-allotment Option Shares) shall be deducted from the proceeds so payable to the
 Company at each respective Time of Delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The deliveries of the documents described
 in Section 9 hereof shall be made (A) with respect to the Firm Shares, at or prior
 to the First Time of Delivery, and (B) with respect to the Over-allotment Option Shares
 as to which the Over-allotment Option has been exercised, at or prior to the Additional Time
 of Delivery of such Over-allotment Option Shares, in each case at the offices of Latham &
 Watkins LLP, 18th Floor, One Exchange Square, 8 Connaught Place, Central, Hong Kong (the
 "**Closing Location** "). A meeting will be held at the Closing Location at
 8:00 p.m., Hong Kong time, on the business day immediately preceding the relevant Time of
 Delivery, at which meeting the final drafts of the documents to be delivered pursuant to
 the preceding sentence will be available for review by the parties hereto and their respective
 counsel.

**3.** **Representations and Warranties** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the Warrantors, jointly and severally,
 represents and warrants to, and agrees with, each of the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs and the International Underwriters the terms set out in Part A
 of Schedule III. The representations, warranties, agreements and undertakings in Part A
 of Schedule III are given on and as at the date of this Agreement with respect to the facts
 and circumstances subsisting at the date of this Agreement and shall be deemed to be given
 and repeated on and as at the Time of Sale, the date of any amendment or supplement to the
 Registration Statement, the Time of Sale Prospectus or the Final Prospectus subsequent to
 the Time of Sale and each Time of Delivery with reference to the facts and circumstances
 then subsisting. The Company acknowledges that each of the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs and the International Underwriters is entering into this Agreement
 in reliance upon the representations and warranties in Part A of Schedule III hereto.
 Each of the representations and warranties in Part A of Schedule III hereto shall be
 construed separately and independently and shall be limited or restricted by reference to
 or inference from the terms of any other of such representations and warranties or any other
 term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the Single Largest Group of Shareholders
 further represents and warrants to, and agrees with, each of the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs and the International Underwriters the terms set out in Part B
 of Schedule III. The additional representations, warranties and agreements in Part B
 of Schedule III are given on and as at the date of this Agreement with respect to the facts
 and circumstances subsisting at the date of this Agreement and shall be deemed to be given
 and repeated on and as at the Time of Sale, the date of any amendment or supplement to the
 Registration Statement, the Time of Sale Prospectus or the Final Prospectus subsequent to
 the Time of Sale and each Time of Delivery with reference to the facts and circumstances
 then subsisting. Each of the Single Largest Group of Shareholders acknowledges that each
 of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters
 is entering into this Agreement in reliance upon the representations and warranties in Part B
 of Schedule III hereto. Each of the representations and warranties in Part B of Schedule
 III hereto shall be construed separately and independently and shall be limited or restricted
 by reference to or inference from the terms of any other of such representations and warranties
 or any other term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [ *reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In addition, any certificate signed by
 any officer or director of the Company or the Single Largest Group of Shareholders, as the
 case may be, and delivered to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or
 the International Underwriters or any counsel for the International Underwriters in connection
 with the International Offering shall be deemed to be a representation and warranty by the
 Company or the Single Largest Group of Shareholders, as the case may be, as to matters covered
 thereby, to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint
 Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International
 Underwriters.

**4.** **Covenants of the Warrantors** 

The Company agrees and undertakes with each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers , the CMIs and the International Underwriters to, and each of the Single Largest Group of Shareholders, agrees with each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters to procure the Company to, comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to furnish such information and otherwise
 to cooperate or take such action as may be reasonably requested by the Overall Coordinators,
 the Joint Global Coordinators and the International Underwriters to qualify the Offer Shares
 for offering and sale under the Laws of such jurisdictions (including the Blue Sky laws)
 as the Overall Coordinators, the Joint Global Coordinators and the International Underwriters
 may designate and to maintain such qualifications in effect and comply with such Laws so
 as to permit the continuance of sales and dealings therein in such jurisdictions for as long
 as may be necessary to complete the sale and distribution of the Offer Shares; *provided, however, that* the Company shall not be required to qualify as a foreign corporation or
 to file a general consent to the service of process (except service of process with respect
 to the offering and sale of the Offer Shares);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to (A) promptly prepare each of the
 Registration Statement, the Time of Sale Prospectus and the Final Prospectus in a form approved
 by the Overall Coordinators and the Joint Global Coordinators, (B) promptly advise the
 Overall Coordinators and the Joint Global Coordinators of any proposal to amend or supplement
 the Registration Statement, the Time of Sale Prospectus or the Final Prospectus, and (C) make
 no such amendment or supplement to either the Registration Statement, the Time of Sale Prospectus
 and the Final Prospectus without the prior approval by the Overall Coordinators and the Joint
 Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to furnish or make available without charge
 to the Overall Coordinators, the Joint Global Coordinators, the Joint Sponsors, the Joint
 Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters prior to
 9:00 a.m., New York City time, on the date hereof and thereafter from time to time, as many
 written and electronic copies of the Registration Statement, the Time of Sale Prospectus,
 the free writing prospectus and the Final Prospectus (and of each amendment or supplement
 thereto if the Company shall have made any such amendment or supplement) and in such jurisdictions
 as the Overall Coordinators and the Joint Global Coordinators may from time to time request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to advise the Overall Coordinators and
 the Joint Global Coordinators (acting for themselves and on behalf of the International Underwriters),
 the Joint Bookrunners, the Joint Lead Managers and the CMIs promptly if at any time prior
 to the later of the Option Expiration Date (as defined below) and the date on which the Overall
 Coordinators and the Joint Global Coordinators notify the Company that the distribution of
 the Offer Shares is complete,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any event shall occur or any circumstance
 shall exist which renders or could render untrue or inaccurate or misleading in any respect
 any of the representations and warranties and other statements of the Warrantors herein;
 or any event shall occur or any circumstance shall exist which gives rise or could give rise
 to a claim under any of the indemnities as contained in, or given pursuant to, this Agreement
 or the Hong Kong Underwriting Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any event shall occur or any circumstance
 shall exist as a result of which it is necessary, in the opinion of the Overall Coordinators
 and the Joint Global Coordinators (acting for themselves and on behalf of the International
 Underwriters) or of the Company or their respective counsel, to amend or supplement the Registration
 Statement, the Time of Sale Prospectus or the Final Prospectus so that the Registration Statement,
 the Time of Sale Prospectus or the Final Prospectus, or any amendment or supplement thereto
 or any individual Supplemental Offering Material when considered together with the Time of
 Sale Prospectus or the Final Prospectus, would not include any untrue statement of a material
 fact or omit to state any material fact necessary in order to make the statements therein,
 in the light of the circumstances under which they were made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) it shall become necessary or desirable
 for any other reason to amend or supplement the Registration Statement, the Time of Sale
 Prospectus or the Final Prospectus; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any significant new factor likely to affect
 the International Offering or the Global Offering shall arise,

and, in each of the cases described in subsections (i) to (iv) above, the Overall Coordinators and the Joint Global Coordinators, in their sole and absolute discretion, may agree with the Company to allow the sale and delivery of the Firm Shares and/or the Over-allotment Option Shares, as the case may be, contemplated by this Agreement to proceed on the basis of the Registration Statement, the Time of Sale Prospectus or the Final Prospectus (but subject to the Company promptly preparing, announcing, issuing, publishing, distributing, furnishing or otherwise making available, at the Company's expense, such amendments or supplements to the Registration Statement, the Time of Sale Prospectus and the Final Prospectus as the Overall Coordinators and the Joint Global Coordinators may require); *provided, however, that* any amendment or supplement to the Registration Statement, the Time of Sale Prospectus or the Final Prospectus (whether made pursuant to this subsection (d) or otherwise) or any announcement, issue, publication or distribution, or delivery to investors, of such amendment or supplement or any consent by or knowledge of the Joint Sponsors, the Overall Coordinators and/or the Joint Global Coordinators of such amendment or supplement shall not in any event and notwithstanding any other provision hereof constitute a waiver or modification of any of the conditions precedent to the obligations of the International Underwriters as set forth in this Agreement or result in the loss of any rights hereunder of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or the International Underwriters, as the case may be, to terminate this Agreement and/or seek indemnification or otherwise prejudice any other rights of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or the International Underwriters, as the case may be, under this Agreement (in each case whether by reason of any misstatement or omission resulting in a prior breach of any of the representations and warranties and other statements of the Warrantors herein or otherwise) (as used herein, "**Option Expiration Date**" means the date falling thirty (30) calendar days after the last day for the lodging of applications under the Hong Kong Public Offering, being the last day of the period during which the Over-allotment Option can be exercised pursuant hereto);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to advise the Joint Sponsors, Overall
 Coordinators and Joint Global Coordinators promptly, confirming such advice in writing, of
 any request by any means from any Governmental Authority in Hong Kong, the PRC (including
 the CSRC), the United States or any other Relevant Jurisdictions (as defined below) for amendments
 or supplements to the Registration Statement, the Time of Sale Prospectus and the Final Prospectus
 or for additional information with respect thereto, or of any notice of the initiation or
 threatening of proceedings for, or the entry of a stop or other order, suspending the qualification
 or exemption from qualification of any of the Offer Shares for offering or sale in any jurisdiction,
 and if at any time any Governmental Authority in Hong Kong, the PRC, the United States or
 any other Relevant Jurisdictions shall issue such stop or other order, to use its best efforts
 to obtain the withdrawal or lifting of such order as soon as possible;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to immediately notify the Joint Sponsors,
 the Overall Coordinators and the Joint Global Coordinators of any filing made by the Company
 of information relating to the International Offering or any communications with any securities
 exchange or any other regulatory body in the Hong Kong, the PRC, the United States at any
 time prior to the later of the Option Expiration Date and the date upon which the Overall
 Coordinators and the Joint Global Coordinators notify the Company in writing that the distribution
 is complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) to comply with (and the Company hereby
 confirms that it has duly complied with) the terms and conditions of the Global Offering
 and all obligations imposed upon it by the Companies Ordinance, the C(WUMP)O, the Listing
 Rules, the Securities Act, the CSRC Rules and all requirements of the Stock Exchange,
 the SFC, the SEC, the CSRC or any Governmental Authority in respect of or by reason of the
 matters contemplated by this Agreement and otherwise with the Global Offering, including,
 without limitation: (i) cooperating with and fully assisting, and procuring members
 of the Group, the Single Largest Group of Shareholders, and/or any of their respective directors,
 officers, employees, affiliates, agents, advisers, reporting accountants, auditors, legal
 counsels and other relevant parties engaged by the Company in connection with the Global
 Offering to cooperate with and fully assist in a timely manner, each of the Joint Sponsors,
 the Overall Coordinators, the CMIs and the Underwriters, to facilitate its performance of
 its duties, as the case may be, as a sponsor, an Overall Coordinator, a Sponsor-OCs and/or
 a CMI and to meet its obligations and responsibilities under all applicable laws, regulations,
 rules and regulatory requirements (whether having the force of law or otherwise) from
 time to time in force, including, without limitation, the Code of Conduct, the Listing Rules,
 the Securities Act and the CSRC Rules; and (ii) giving every assistance, and procuring
 the members of the Group, the Single Largest Group of Shareholders, and/or any of their respective
 directors, officers, employees, affiliates, agents, advisers, reporting accountants, auditors,
 legal counsels and other relevant parties engaged by the Company in connection with the Global
 Offering to give every assistance, to each of the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers,
 the CMIs and the Underwriters, to meet its obligations and responsibilities to provide materials,
 information and documents to the Stock Exchange, the SFC, the SEC, the CSRC and other regulators
 under the Code of Conduct (including without limitation all materials and information as
 specified under 21.3 and 21.4 thereof), the Listing Rules (including without limitation
 Chapter 3A and paragraph 19 of Appendix 6 thereof), the Securities Act, the CSRC Rules and
 other applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) where there is any material information
 that is required to be reported to the CSRC pursuant to the applicable Laws (including, without
 limitation, the CSRC Filing Rules), to promptly notify the CSRC or the relevant PRC Governmental
 Authority and provide it with such material information in accordance with the applicable
 Laws, and to promptly notify the Overall Coordinators and the Joint Global Coordinators (for
 themselves and on behalf of the International Underwriters) of such material information
 to the extent permitted by the applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to comply (and the Company hereby confirms
 that it has duly complied with) with the Listing Rules, the CSRC Rules, the Securities Act
 and/or any other applicable Laws, including to disclose by way of announcement or otherwise
 and disseminate to the public, under certain circumstances, information affecting any forecast
 estimated financial information contained in each of the Hong Kong Prospectus, the Registration
 Statement, the Time of Sale Prospectus and the Final Prospectus and any information so required
 by the Stock Exchange, the Listing Rules, the CSRC Rules, the Securities Act and/or any other
 applicable Laws or Governmental Authority to be disclosed and disseminated to the public
 by the Company; provided, however, that, no such disclosure shall be made by the Company
 without first having been submitted to the Joint Sponsors, the Overall Coordinators and the
 Joint Global Coordinators for their review not less than three business days prior to such
 issuance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) to comply with all the requirements set
 out in the notification with respect to the CSRC Filings of the Company issued by the CSRC
 on September 24, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) to comply with all the applicable Laws
 (including, without limitation, the CSRC Archive Rules) in connection with (A) the establishment
 and maintenance of adequate and effective internal control measures and internal systems
 for maintenance of data protection, confidentiality and archive administration; (B) the
 relevant requirements and approval and filing procedures in connection with its handling,
 disclosure, transfer and retention of transfer of state secrets and working secrets of government
 agencies or any other documents or materials that would otherwise be detrimental to national
 securities or public interest (the "**Relevant Information** "); and (C) maintenance
 of confidentiality of any Relevant Information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) to maintain accounting and management
 systems that are relevant (A) to the obligations of the Company and its directors to
 comply with the Listing Rules and other legal and regulatory requirements, in particular
 financial reporting, disclosure of price sensitive information and notifiable and connected
 transaction requirements and (B) to make a proper assessment of the financial position
 and prospects of the Group, both before and after listing on the Stock Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) to conduct the Group's business
 and affairs in compliance with all applicable Laws (including, without limitation, the Listing
 Rules, the Companies Ordinance, the C(WUMP)O, the CSRC Rules, the Securities Act and the
 Hong Kong Code on Takeovers and Mergers), including, without limitation (A) complying
 with the Listing Rule requirement to document the rationale behind the Company's
 decision on allocation and pricing, in particular where the decision is contrary to the advice,
 recommendation(s) and/or guidance of the Overall Coordinators in accordance with paragraph
 19 of Appendix 6 to the Listing Rules; (B) complying with and procuring its directors
 to comply with their obligations to assist the syndicate members in accordance with Listing
 Rule 3A.46, including but not limited to keeping the syndicate members informed of any
 material changes to information provided under Listing Rule 3A.46(1) as soon as
 it becomes known to the Company and its directors; (C) notifying the Stock Exchange
 and providing it with the updated information and reasons for any material changes to the
 information provided to the Stock Exchange under Rule 9.11; (D) keeping the Joint
 Sponsors and the Overall Coordinators informed of any material change to the information
 previously given to the Stock Exchange, the SFC, the SEC and the CSRC under paragraph 4(f)(ii) above,
 and to enable the Joint Sponsors and the Overall Coordinators to provide (or procuring their
 provision) to the Stock Exchange, the SFC, the CSRC and/or the SEC, in a timely manner, such
 information as the Stock Exchange, the SFC, the SEC or the CSRC may require; (E) providing
 to or procuring for the Joint Sponsors and the Overall Coordinators all necessary consents
 to the provision of the information referred to in paragraphs 4(f) and 4(j) of
 this clause to them; (F) complying, cooperating and assisting with record-keeping obligations
 of the Company, the Overall Coordinators and the CMIs under the Code of Conduct and the Listing
 Rules, including but not limited to, in the situation where the Company may decide to deviate
 from the advice or recommendations by an Overall Coordinator; (G) making and obtaining
 all necessary Approvals and Filings (including the CSRC Filings, which shall include the
 submission of listing report to the CSRC upon completion of the Global Offering pursuant
 to the CSRC Filing Rules on or before the relevant time or date specified thereof) with
 and/or from the Registrar of Companies in Hong Kong, the Stock Exchange, the SFC, the SEC,
 the CSRC and other relevant Governmental Authority, including but not limited to lodging
 with the Stock Exchange all relevant documents, declarations and undertakings on FINI in
 such manner, form and time as required under the Listing Rules and all applicable rules,
 procedures, terms and conditions and guidance materials of the Stock Exchange and the HKSCC;
 and (H) complying with the Listing Rules and all applicable rules, procedures,
 terms and conditions and guidance materials of the Stock Exchange and the HKSCC in relation
 to application procedures and requirements for new listing, and adopting FINI for admission
 of trading and the collection of specified information on subscription and settlement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) to inform the Stock Exchange and the SFC
 of such material change or matter if so required by any of the Joint Sponsors, the Underwriters
 and the Overall Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) to keep the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators (for themselves and on behalf of the CMIs
 and the Underwriters) informed of any material change to the information previously given
 to the CSRC, the Stock Exchange, the SFC, the SEC or any other relevant Governmental Authority,
 and to enable the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators
 (for themselves and on behalf of the CMIs and the Underwriters) to provide (or procuring
 their provision) to the CSRC, the Stock Exchange, the SFC, the SEC or any such relevant Governmental
 Authority, in a timely manner, such information as the CSRC, the Stock Exchange, the SFC,
 the SEC or any such relevant Governmental Authority may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) prior to forty (40) days after the later
 of the Option Expiration Date and the date on which the Overall Coordinators and the Joint
 Global Coordinators notify the Company that the distribution of the Offer Shares is complete,
 not to, and to procure its subsidiaries and all other parties acting on its or their behalf
 not to, issue any public announcement, press release or other communication directly or indirectly
 or hold or participate in any press or other conferences with respect to the Company and/or
 any of its subsidiaries, (i) with respect to the financial condition, results of operations,
 business, properties, assets or liabilities of the Company and/or any of its subsidiaries,
 or the offering of the Offer Shares; (ii) that would be materially inconsistent with
 any statement contained in each of the Registration Statement, the Time of Sale Prospectus
 and the Final Prospectus, in either case without the prior written approval of the Overall
 Coordinators and the Joint Global Coordinators; or (iii) that could be material in the
 context of the distribution of the Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) to furnish to its shareholders (A) as
 soon as practicable after the end of each financial year an annual report in English (containing
 the consolidated balance sheets and consolidated statements of comprehensive income, changes
 in shareholders' equity and cash flows of the Company and its subsidiaries, audited
 by independent public accountants and prepared in conformity with the International Financial
 Reporting Standards ()"**IFRS** ")) and (B) as soon as practicable after
 the end of the first six-month period of each financial year (beginning with the first such
 period ending after the date of the Final Prospectus), consolidated balance sheets and consolidated
 statements of comprehensive income, changes in shareholders' equity and cash flows
 of the Company and its subsidiaries for such period prepared in conformity with and under
 IFRS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) during a period of two years from the
 date of the Final Prospectus, and in each case to the extent the same is not publicly available
 on the website of the Stock Exchange and Electronic Data Gathering, Analysis, and Retrieval
 (EDGAR) system of the SEC, to furnish to the Overall Coordinators and the Joint Global Coordinators
 copies of all reports or other communications (financial or other) furnished by the Company
 to its shareholders, and to deliver to the Overall Coordinators and the Joint Global Coordinators
 (A) as soon as they are available, copies of any reports and financial statements furnished
 to or filed with the Stock Exchange, the SEC or any securities exchange on which any class
 of securities of the Company is listed (such financial statements to be on a consolidated
 basis to the extent the accounts of the Company and its subsidiaries are consolidated in
 reports furnished by the Company to its shareholders generally or to the Stock Exchange,
 the SEC or any securities exchange on which any class of securities of the Company is listed)
 and (B) from time to time, such other information concerning the Company as the Overall
 Coordinators may reasonably request in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) for so long as the Shares are outstanding,
 to file with the Stock Exchange, the SFC, the Hong Kong Registrar of Companies, the SEC,
 the CSRC and any other relevant Governmental Authority in Hong Kong, the PRC, the United
 States and other Relevant Jurisdictions, such relevant reports, documents, agreements and
 other information which may from time to time be required by applicable Laws to be so filed
 because the Shares are outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) to procure that no connected person (as
 defined in the Listing Rules), existing shareholders of the Company or their respective associates
 (as defined in the Listing Rules) will itself (or through a company controlled by it), apply
 for Offer Shares either in its own name or through nominees unless permitted to do so under
 the Listing Rules and having obtained confirmation to that effect, and if the Company
 shall become aware of any application or indication of interest for Offer Shares by any of
 the above persons, it shall forthwith notify the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators (for themselves and on behalf of the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the Underwriters);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) not to be or become, at any time prior
 to the expiration of one year after the First Time of Delivery or, if applicable, the latest
 Time of Delivery, an open-end investment company, unit investment trust, closed-end investment
 company or face-amount certificate company that is required to be registered under Section 8
 of the Investment Company Act of 1940, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) to apply the net proceeds from the sale
 of the Offer Shares in the manner set forth in the section of each of the Registration Statement,
 the Time of Sale Prospectus and the Final Prospectus headed "Use of Proceeds";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) not to, and to procure each of the Company's
 subsidiaries and the Company's and the subsidiaries' directors, officers, promoters,
 supervisors, managers, employees, Affiliates, agents and any person associated with or acting
 on behalf of the Company or its subsidiaries or on behalf of any of the foregoing persons
 not to, use, directly or indirectly, any proceeds from the sale of the Offer Shares or lend,
 contribute or otherwise make available such proceeds to any subsidiary, joint venture partner
 or other person or entity (A) to fund or facilitate, directly or indirectly, activities
 of or business with, or for the benefit of, any government, individual or entity that is
 the target of any OFAC-administered sanctions or any other sanctions under the Sanctions
 Laws and Regulations (as defined in Schedule III); (B) to fund or facilitate any activities
 of or business in any Sanctioned Country or (C) in a manner that would result in a violation
 by any person or entity (including, any person or entity participating in the Global Offering,
 whether as underwriter, advisor, investor or otherwise) of any of the Sanctions Laws and
 Regulations. The Company will not, and will procure its subsidiaries not to, engage in any
 dealings or transactions with any Person, or in any country or territory, that at the time
 of the dealing or transaction is the target of any Sanctions Laws and Regulations, and will
 not violate any export control and import laws and regulations in the U.S., China and other
 applicable jurisdiction, including the Export Administration Regulations, the U.S. Customs
 regulations, and various economic sanctions regulations administered by the OFAC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) except for (a) the issue, offer or
 sale of the Offer Shares by the Company pursuant to the Global Offering (including pursuant
 to any exercise of the Over-allotment Option); (b) the issue of Class A Ordinary
 Shares or ADSs or transfer of treasury shares pursuant to the 2018 Share Plan in compliance
 with the Listing Rules and applicable Laws; (c) any capitalization issue, capital
 reduction or consolidation or sub-division of shares; (d) registration and issuance
 of ADSs and ADRs without enlarging the issued and outstanding share capital of the Company
 as at the date of this Agreement; or (e) repurchase of securities pursuant to the Company's
 share repurchase programs existing on the date of the International Underwriting Agreement
 to the extent in compliance with the Listing Rules and applicable Laws, the Company
 will not, without the prior written consent of the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the International Underwriters) and unless in compliance
 with the Listing Rules, at any time during the period commencing on the date hereof and ending
 on the date falling six months after the Listing Date (the "**First Six Month Period** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) allot, issue, sell, accept subscription
 for, offer to allot, issue or sell, contract or agree to allot, issue or sell, mortgage,
 charge, pledge, hypothecate, lend, grant or sell any option, warrant, contract or right to
 subscribe for or purchase, grant or purchase any option, warrant, contract or right to allot,
 issue or sell, or otherwise transfer or dispose of or create an Encumbrance over, or agree
 to transfer or dispose of or create an Encumbrance over, either directly or indirectly, conditionally
 or unconditionally, or repurchase, any legal or beneficial interest in the share capital
 or any other securities of the Company or any interest in any of the foregoing (including,
 without limitation, any securities convertible into or exchangeable or exercisable for or
 that represent the right to receive, or any warrants or other rights to purchase any share
 capital or other securities of the Company, as applicable), or deposit any share capital
 or other securities of the Company, as applicable, with a depositary in connection with the
 issue of depositary receipts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) enter into any swap or other arrangement
 that transfers to another, in whole or in part, any of the economic consequences of ownership
 (legal or beneficial) of the Class A Ordinary Shares or any other securities of the
 Company, or any interest in any of the foregoing (including, without limitation, any securities
 convertible into or exchangeable or exercisable for or that represent the right to receive,
 or any warrants or other rights to purchase, any Shares); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) enter into any transaction with the same
 economic effect as any transaction described in paragraphs (i) or (ii) above; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) offer to or agree to do any of the foregoing
 specified in paragraphs (i), (ii) or (iii) or announce any intention to do so,

in each case, whether any of the foregoing transactions is to be settled by delivery of share capital or such other securities, in cash or otherwise (whether or not the issue of such share capital or other securities will be completed within the First Six Month Period). The Company further agrees that, in the event the Company is allowed to enter into any of the transactions described in paragraphs (i), (ii) or (iii) above or offers to or agrees to or announces any intention to effect any such transaction during the period of six months commencing on the date on which the First Six Month Period expires (the "**Second Six Month Period**"), it will take all reasonable steps to ensure that such an issue or disposal will not, and no other act of the Company will, create a disorderly or false market for any Class A Ordinary Shares or other securities of the Company. The Single Largest Group of Shareholders undertake to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the International Underwriters that it/he shall procure the Company to comply with the undertakings in this subsection;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) comply with the minimum public float requirements
 specified in the Listing Rules (the "**Minimum Public Float Requirement** "),
 and not to effect any purchase of the Class A Ordinary Shares, or agree to do so, which
 may reduce the holdings of the Class A Ordinary Shares held by the public (as defined
 in Rule 8.24 of the Listing Rules) to below the Minimum Public Float Requirement or
 any waiver granted and not revoked by the Stock Exchange prior to the expiration of the Second
 Six Month Period without first having obtained the prior written consent of the Joint Sponsors
 and the Overall Coordinators (for themselves and on behalf of the International Underwriters);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) not to, and to procure its Affiliates,
 subsidiaries or persons acting on its or their behalf (other than the International Underwriters
 and their respective Affiliates) not to, distribute prior to the last Time of Delivery any
 offering material in connection with the offer and sale of the Offer Shares other than the
 Hong Kong Prospectus, the Registration Statement, the Time of Sale Prospectus and the Final
 Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) until the Overall Coordinators and the
 Joint Global Coordinators have notified the Company of the completion of the distribution
 of the Offer Shares, not to, and to procure its subsidiaries and the Company's and
 the subsidiaries' respective directors, officers, promoters, supervisors, employees,
 Affiliates and agents and persons acting on behalf of the Company or its subsidiaries or
 on behalf of any of the foregoing persons not to, either alone or with one or more other
 persons, engage in, directly or indirectly, any act or course of conduct (A) that creates
 a false or misleading impression as to the market in or the value of the Shares and any associated
 securities, or (B) the purpose of which is to create actual or apparent active trading
 in, or to raise the price of, the Shares, *provided, however, that* nothing in clauses
 (A) and (B) above will prevent the Stabilizing Manager from engaging in transactions
 to stabilize the market price of the Offer Shares to the extent permitted by Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) not to, and to procure its subsidiaries
 and the Company's and its subsidiaries' respective directors, officers, promoters,
 supervisors, employees, Affiliates and agents and person acting on behalf of the Company
 or its subsidiaries or on behalf of any of foregoing persons not to, (A) take or facilitate,
 directly or indirectly, any action which is designed to or which constitutes or which might
 reasonably be expected to cause or result in stabilization or manipulation of the price of
 any security of the Company to facilitate the sale or resale of any security of the Company
 or otherwise in violation of applicable Laws, (B) take, directly or indirectly, any
 action which would constitute a violation of the market misconduct provisions of Parts XIII
 and XIV of the SFO, (C) take or omit to take, directly or indirectly, any action which
 may result in the loss by any of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or
 the International Underwriters or any person acting for them as stabilizing manager of the
 ability to rely on any stabilization safe harbor provided by the Securities and Futures (Price
 Stabilizing) Rules under the SFO or otherwise, or (D) take or omit to take, directly
 or indirectly, any action (such as issuing any press release relating to any securities without
 an appropriate legend) in breach of the terms of the Hong Kong Underwriting Agreement or
 in violation of the Securities and Futures Ordinance of Hong Kong; provided that, for the
 avoidance of doubt, the Stabilization Manager may engage in transactions which stabilize
 the market price of the Offer Shares to the extent permitted by Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) maintain (A) accurate books and
 records and a system of internal accounting controls consistent with paragraph 15 under Part A
 of Schedule III hereof and (B) policies and procedures designed to ensure compliance
 with the anti-corruption laws of Hong Kong, the PRC, the United States and any other jurisdiction
 applicable to any member of the Group and its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) prior to the completion of the Global
 Offering as notified by the Overall Coordinators and the Joint Global Coordinators, without
 prior approval by the Overall Coordinators and the Joint Global Coordinators, not to, and
 not to procure or permit any of its subsidiaries to, (A) enter into or assume or otherwise
 agree to be bound by any contract or agreement, (B) incur, assume or acquire or otherwise
 agree to become subject to any liability, (C) acquire or dispose of or agree to acquire
 or dispose of any business or asset, which in each case would or could reasonably be expected
 to materially and adversely affect the Global Offering or have a material adverse effect
 or any development involving a prospective material adverse effect, on the profits, losses,
 results of operations, assets, liabilities, general affairs, business, management, performance,
 prospects, shareholders' equity, position or condition (financial, trading or otherwise)
 of the Group, taken as a whole (a "**Material Adverse Effect** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) prior to sixty (60) days after the First
 Time of Delivery, promptly notify the Overall Coordinators and the Joint Global Coordinators
 of any commitment or agreement that it entered into, which has or could reasonably be expected
 to have a Material Adverse Effect or adversely affect the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) upon request of any of the International
 Underwriters, to furnish, or cause to be furnished, to such International Underwriter an
 electronic version of the Company's trademarks, service marks and corporate logo for
 use on the website, if any, operated by such International Underwriter for the purpose of
 facilitating the on-line offering of the Offer Shares (the "**License** "); *provided, however, that* the License shall be used solely for the purpose described
 above, is granted without any fee and may not be assigned or transferred and shall terminate
 upon completion of the distribution of the Offer Shares; in addition, each of the International
 Underwriters are permitted to use the License for the purposes of identifying the Company
 in a list of current or completed deals posted on the website of or contained in other materials
 prepared by such International Underwriter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) to have the Shares approved for listing
 on the Stock Exchange by the First Time of Delivery and to maintain such listing and will
 refrain from taking any action that could jeopardize the listing on the Stock Exchange for
 at least one year after the First Time of Delivery, except following a withdrawal of such
 listing which has been approved by the shareholders of the Company in accordance with the
 Listing Rules and the applicable Laws or following an offer (within the meaning of the
 Hong Kong Code on Takeovers and Mergers and Share Buy-backs) for the Company becoming unconditional;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) to do and perform all things required
 to be done and performed under this Agreement by it prior to or after each Time of Delivery
 and to satisfy all conditions precedent on its part to the delivery of the International
 Offer Shares as set forth herein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to indemnify and hold each of the Joint
 Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint
 Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters and their
 respective Affiliates harmless against any documentary, stamp or similar issuance or transfer
 Taxes, duties or fees and any transaction levies, commissions or brokerage charges, including,
 without limitation, any interest and penalties, payable in Hong Kong, the PRC, the Cayman
 Islands, the United States or any other relevant jurisdiction which are or may be required
 to be paid in connection with the creation, allotment, issuance, offer and distribution of
 the Offer Shares as contemplated in each of the Time of Sale Prospectus and the Final Prospectus
 and the execution and delivery of this Agreement, and to indemnify and hold the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the International Underwriters and their respective
 Affiliates harmless against the Trading Fee, the SFC Transaction Levy and the AFRC Transaction
 Levy, if any, which may be required to be paid in connection with the offer and sale of the
 Offer Shares and/or the listing of the Shares on the Stock Exchange (except where such International
 Underwriters purchase Offer Shares for their investment accounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) during the period from the date hereof
 to 180 days after the First Time of Delivery, to discuss with the Overall Coordinators: (A) any
 major new developments in its sphere of activity which are not public knowledge which may,
 by virtue of the effect of those developments on its assets and liabilities or financial
 position or on the general course of its business, lead to substantial movement in the price
 of its listed securities; and (B) any change in the Company's financial condition
 or results of operations which, if made public, would likely lead to substantial movement
 in the price of its listed securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) not to, and to procure each member of
 the Group and/or the Warrantors, and/or any of their respective substantial shareholders,
 directors, officers, promoters, supervisors, employees, Affiliates and/or agents of the Company
 and its subsidiaries not to (whether directly or indirectly, formally or informally, in writing
 or verbally), provide any material information, including forward-looking information (whether
 qualitative or quantitative) concerning the Company and/or its subsidiaries that is not,
 or is not reasonably expected to be, included in each of the Hong Kong Prospectus, the Registration
 Statement, the Time of Sale Prospectus and the Final Prospectus or publicly available, to
 any research analyst at any time up to and including the fortieth (40<sup>th</sup>) day immediately
 following the date on which the Offer Price is determined in accordance with the terms of
 the Hong Kong Underwriting Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) to ensure that any issues identified
 and as disclosed in any internal control report prepared by the Internal Control Consultant
 have been rectified or improved in accordance with the recommendations set out in the report
 to a sufficient standard or level for the operation and maintenance of efficient systems
 of internal accounting and financial reporting controls and disclosure and corporate governance
 controls and procedures that are effective to perform the functions for which they were established
 and to allow compliance by the Company and its board of directors with all applicable Laws
 and, without prejudice to the generality of the foregoing, to such standard or level recommended
 or suggested by the Internal Control Consultant in its internal controls report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) not to, and to procure each member of
 the Group and connected person (as defined in the Listing Rules) of the Company not to, and
 to use its best endeavors to procure their respective associates not to, provide any financing
 (directly or indirectly) to any subscriber or purchaser of Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) based on the placee list provided by
 the International Underwriters, to do all such things as are necessary to ensure that (i) there
 is no placing of the Offer Shares to connected persons unless otherwise disclosed to the
 Stock Exchange and/or the relevant waiver has been obtained from the Stock Exchange, (ii) the
 placees and their beneficial owner(s) and/or associate(s) are third parties independent
 of and not be acting in concert with (as defined in the Hong Kong Code on Takeovers and Mergers),
 the Company or any connected persons in relation to the control of the Company; (c) such
 placees, their respective ultimate beneficial owner(s) and/or associate(s) are
 not, directly or indirectly, financed, funded or backed by and are not accustomed to taking
 any instructions from the Company, any of the directors, chief executives, controlling shareholder(s),
 substantial shareholder(s) or existing shareholder(s) of the Company or any of
 the Company's subsidiaries, or a close associate of any of them, (d) the orders
 for the securities originate from the placees procured by the underwriters and their respective
 ultimate beneficial owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) to notify the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators (for themselves and on behalf of the International
 Underwriters) immediately if it becomes aware that any person who has applied for or indicated
 an interest for Offer Shares (or their respective beneficial owners) (a) falls within
 (i) any of the placee categories (other than "Not Applicable") as set out
 in the Stock Exchange's placee list template or required to be disclosed by the Stock Exchange's
 FINI (as defined in the Listing Rules) interface in relation to placees or under the Listing
 Rules or (ii) any of the groups of placees that would be required under Rule 12.08A
 of the Listing Rules to be identified in the Company's allotment results announcement;
 or (b) is financed directly or indirectly by, or accustomed to taking instructions from,
 the Company, any of the directors, chief executive, controlling shareholder(s), substantial
 shareholder(s) or existing shareholder(s) of the Company or any of its subsidiaries
 or a close associate of any of them (as such terms are defined in the Listing Rules);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) to comply with the requirements of Rule 430A
 or Rule 403B, and notify the Overall Coordinators promptly, and confirm the notice in
 writing, (i) when any post-effective amendment to the Registration Statement or the
 Form 8-A Registration Statement shall become effective, or any amendment or supplement
 to the Final Prospectus (including any prospectus wrapper) shall have been filed, (ii) of
 the receipt of any comments from the SEC, (iii) of any request by the SEC for any amendment
 to the Registration Statement, the Form 8-A Registration Statement, or any amendment
 or supplement to the Final Prospectus or for additional information, (iv) of the issuance
 by the SEC of any stop order suspending the effectiveness of the Registration Statement,
 the Form 8-A Registration Statement or any post-effective amendment or of any order
 preventing or suspending the use of any preliminary prospectus or the Final Prospectus or
 of the suspension of the qualification of the Offer Shares for offering or sale in any jurisdiction,
 or of the initiation or threatening of any proceedings for any of such purposes or of any
 examination pursuant to Section 8(e) of the 1933 Act concerning the Registration
 Statement, and (v) if the Company becomes the subject of a proceeding under Section 8A
 of the 1933 Act in connection with the offering of the Offer Shares. The Company will effect
 all filings required under Rule 424(b), in the manner and within the time period required
 by Rule 424(b) (without reliance on Rule 424(b)(8)). The Company will use
 reasonable efforts to prevent the issuance of any stop order, prevention or suspension and,
 if any such order is issued, to obtain the lifting thereof at the earliest possible moment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) to furnish to the Overall Coordinators,
 without charge, copies of the Registration Statement (including exhibits thereto and documents
 incorporated by reference therein) and for delivery to each other Underwriter a copy of the
 Registration Statement (without exhibits thereto and documents incorporated by reference
 therein) and to furnish to the Overall Coordinators in New York City, without charge, prior
 to 10:00 a.m. New York City time on the business day next succeeding the date of this
 Agreement and as many copies of the Time of Sale Prospectus, the Final Prospectus, documents
 incorporated by reference therein and any supplements and amendments thereto or to the Registration
 Statement as the Representatives may reasonably request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) before amending or supplementing the
 Registration Statement, the Form 8-A Registration Statement, the Time of Sale Prospectus
 or the Final Prospectus, to furnish to the Overall Coordinators a copy of each such proposed
 amendment or supplement and not to file any such proposed amendment or supplement to which
 the Overall Coordinators reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) to furnish to the Overall Coordinators
 a copy of each proposed free writing prospectus (including any electronic roadshow) or amendment
 thereof or supplement thereto, to be prepared by or on behalf of, used by, or referred to
 by the Company and not to use or refer to any proposed free writing prospectus to which the
 Overall Coordinators reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) if at any time following issuance of
 a free writing prospectus any event occurred or occurs as a result of which such free writing
 prospectus would conflict with the information in the Registration Statement, the Time of
 Sale Prospectus or the Final Prospectus or would include an untrue statement of a material
 fact or omit to state any material fact necessary in order to make the statements therein,
 in the light of the circumstances then prevailing, not misleading, the Company will give
 prompt notice thereof to the Overall Coordinators and, if requested by the Overall Coordinators,
 will prepare and furnish without charge to each Underwriter a free writing prospectus or
 other document which will correct such conflict, statement or omission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) if at any time following issuance of
 a free writing prospectus there occurred or occurs an event or development as a result of
 which such free writing prospectus conflicted or would conflict with the information contained
 in the Registration Statement relating to the Offer Shares or included or would include an
 untrue statement of a material fact or omitted or would omit to state a material fact necessary
 in order to make the statements therein, in the light of the circumstances, prevailing at
 that subsequent time, not misleading, to promptly notify the Representatives and to promptly
 (subject to Section (tt)) amend or supplement, at its own expense, such free writing
 prospectus to eliminate or correct such conflict, untrue statement or omission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) not to take any action that would result
 in an Underwriter or the Company being required to file with the SEC pursuant to Rule 433(d) under
 the Securities Act a free writing prospectus prepared by or on behalf of the Underwriter
 that the Underwriter otherwise would not have been required to file thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) if the Time of Sale Prospectus is being
 used to solicit offers to buy the Offer Shares at a time when the Final Prospectus is not
 yet available to prospective purchasers and any event or development shall occur or condition
 exist as a result of which it is necessary to amend or supplement the Time of Sale Prospectus
 in order to make the statements therein, in the light of the circumstances, not misleading,
 or if any event or development shall occur or condition exist as a result of which the Time
 of Sale Prospectus conflicts with the information contained in the Registration Statement
 then on file, or if, in the opinion of counsel for the Underwriters, it is necessary to amend
 or supplement the Time of Sale Prospectus to comply with applicable law, forthwith to prepare,
 file with the Commission (subject to the last clause of this subsection (ww)) and furnish,
 at its own expense, to the Underwriters and to any dealer upon request, either amendments
 or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale
 Prospectus as so amended or supplemented will not, in the light of the circumstances when
 the Time of Sale Prospectus is delivered to a prospective purchaser, be misleading or so
 that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with
 the Registration Statement, or so that the Time of Sale Prospectus, as amended or supplemented,
 will comply with applicable law; to promptly give the Representatives written notice of any
 such event or development or condition of which the Company becomes aware; and before amending
 or supplementing the Time of Sale Prospectus, to furnish to the Representatives a copy of
 each such proposed amendment or supplement and not to file any such proposed amendment or
 supplement to which the Overall Coordinators reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) (i) if, during such period after
 the first date of the public offering of the Offer Shares as in the opinion of counsel for
 the Underwriters the Final Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of
 the Securities Act) is required by law to be delivered in connection with sales by an Underwriter
 or dealer, any event or development shall occur or condition exist as a result of which it
 is necessary to amend or supplement the Final Prospectus in order to make the statements
 therein, in the light of the circumstances when the Final Prospectus (or in lieu thereof
 the notice referred to in Rule 173(a) of the Securities Act) is delivered to a
 purchaser, not misleading, or if, in the opinion of counsel for the Underwriters, it is necessary
 to amend or supplement the Final Prospectus to comply with applicable law, forthwith to prepare,
 file with the SEC (subject to the last clause of this subsection (xx)) and furnish, at its
 own expense, to the Underwriters and to the dealers (whose names and addresses the Representatives
 will furnish to the Company) to which the Offer Shares may have been sold by the Representatives
 on behalf of the Underwriters and to any other dealers upon request, either amendments or
 supplements to the Final Prospectus so that the statements in the Final Prospectus as so
 amended or supplemented will not, in the light of the circumstances when the Final Prospectus
 (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act)
 is delivered to a purchaser, be misleading or so that the Final Prospectus, as amended or
 supplemented, will comply with applicable law; (ii) to promptly give the overall Coordinators
 written notice of any such event or development or condition of which the Company becomes
 aware; and (iii) before amending or supplementing the Final Prospectus, to furnish to
 the Representatives a copy of each such proposed amendment or supplement and not to file
 any such proposed amendment or supplement to which the Representatives reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy) The Company, during the period when the
 Final Prospectus is required to be delivered under the Securities Act, will file all documents
 required to be filed with the SEC pursuant to the Exchange Act within the time periods required
 by the Exchange Act and the applicable rules and regulations of the Commission thereunder;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz) Other than as disclosed in the Time of
 Sale Prospectus, to promptly notify the Overall Coordinators if the Company ceases to be
 an Emerging Growth Company at any time prior to the later of (i) completion of the distribution
 of the Offer Shares within the meaning of the Securities Act and (ii) completion of
 the six-month restricted period following the Listing Date.

Subject to Section 10, the undertakings in this Section 4 shall remain in full force and effect notwithstanding the completion of the Global Offering and the matters and arrangements referred to or contemplated in this Agreement.

**5.** **[ *Reserved* ]** 

**6.** **Advice to the Company** 

The Company hereby confirms and acknowledges that each of the Overall Coordinators has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) engaged the Company at various stages
 during the offering process to understand the Company's preferences and objectives
 with respect to pricing and the desired shareholder or investor base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) explained the basis of its advice and
 recommendations to the Company including any advantages and disadvantages, including but
 not limited to communicating its allocation policy to the Company, and that the Company confirms
 that it fully understands the factors underlying the allocation recommendations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) advised the Company in a timely manner,
 throughout the period of engagement, of key factors for consideration and how these could
 influence the pricing outcome, allocation and future shareholder or investor base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) advised the Company on the information
 that should be provided to the CMIs to enable them to meet their obligations and responsibilities
 under the Code of Conduct, including information about the Company to facilitate a reasonable
 assessment of the Company required under the Code of Conduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) provided guidance to the Company on the
 market's practice on the ratio of fixed and discretionary fees to be paid to the CMIs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) advised and guided the Company and its
 directors as to their responsibilities under the rules, regulations and requirements of the
 Stock Exchange, the SFC and any other Authority which apply to placing activities including
 the Global Offering, and that the Company and its directors fully understand and undertake
 to the Joint Sponsors and the Underwriters that they have met or will meet these responsibilities;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) where the Company decided not to adopt
 an Overall Coordinator's advice or recommendations in relation to pricing or allocation
 of shares, or its decisions may lead to a lack of open market, an inadequate spread of investors
 or may negatively affect the orderly and fair trading of such shares in the secondary market,
 explained the potential concerns and advised the Company against making these decisions.

**7.** **Covenant OF THE COMPANY to Pay Costs** 

All fees, costs, charges, Taxation and expenses of, in connection with or incidental to the Global Offering, the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange and this Agreement, and the transactions contemplated thereby or hereby including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) fees, disbursements and expenses of the
 Reporting Accountants in accordance with the arrangement letter entered into between the
 Company and the Reporting Accountants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) fees, disbursements and expenses of any
 transfer agent or registrar for the Class A Ordinary Shares, any service provider appointed
 by the Company in connection with White Form eIPO Service, and the process agent referred
 to in Clause 16 hereof in accordance with the respective engagement letters entered into
 between the Company and such transfer agent or registrar, service provider of White Form eIPO
 Service and process agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) fees, disbursements and expenses of all
 Legal Advisers to the Company or the Underwriters in accordance with the respective engagement
 letters or fee arrangement letters entered into between the Company and such Legal Advisers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) fees, disbursements and expenses of any
 public relations consultants engaged by the Company in accordance with the engagement letter
 between the Company and such public relations consultants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) fees, disbursements and expenses of the
 Internal Control Consultant and the Industry Consultant in accordance with the respective
 engagement letters entered into between the Company and such Internal Controls Consultant
 and Industry Consultant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) fees, disbursements and expenses of any
 translators engaged by the Company in accordance with the engagement letter entered into
 between the Company and such translators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) fees, disbursements and expenses of the
 Receiving Bank and the Nominee in accordance with the Receiving Bank Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) fees, disbursements and expenses of the
 financial printer engaged by the Company in accordance with the engagement letter entered
 into between the Company and such financial printer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) fees and expenses of other agents, third
 party service providers, consultants and advisers engaged by the Company relating to the
 Global Offering in accordance with the respective engagement letters or fee letters entered
 into between the Company and such agents, third party service providers, consultants and
 advisers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) fees and expenses related to the application
 for listing of and permission to deal in the Class A Ordinary Shares on the Main Board
 of the Stock Exchange, the filing or registration of any documents (including, without limitation,
 the Hong Kong Public Offering Documents, the CSRC Filings and any amendments and supplements
 thereto) with any relevant Authority (including, without limitation, the Registrar of Companies
 in Hong Kong and the CSRC) and the qualification of the Offer Shares in any jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) all costs and expenses for roadshow (including
 pre-deal or non-deal roadshow), pre-marketing or investor education activities, and presentations
 or meetings undertaken in connection with the marketing of the offering and sale of the Offer
 Shares to prospective investors, including without limitation, expenses associated with the
 production of the slides and graphics for the Investor Presentation Materials, and all fees,
 disbursements and expenses of any consultants engaged in connection with the Investor Presentation
 Materials, documentary, travel, lodging and other fees and expenses incurred by the Company,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs and the Underwriters subject
 to, if any, the respective engagement letters entered into between the Company and the respective
 Overall Coordinators, the Joint Global Coordinators, the CMIs and the Underwriters (as the
 case may be), or otherwise approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) all printing, document production, courier
 and advertising costs in relation to the Global Offering approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) all costs of preparation, despatch and
 distribution of the Offering Documents in all Relevant Jurisdictions, and all amendments
 and supplements thereto approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) all costs of preparation, printing or
 production of this Agreement, the Hong Kong Underwriting Agreement, the agreement among Hong
 Kong Underwriters, the agreement among International Underwriters, the agreement among syndicates,
 closing documents (including compilations thereof) and any other documents in connection
 with the offering, purchase, sale and delivery of the Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) all costs and expenses for printing and
 distribution of research reports, and conducting the syndicate analysts' briefing and other
 presentations relating to the Global Offering approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) all costs of preparation, despatch and
 distribution (including transportation, packaging and insurance) of share certificates, letters
 of regret and refund cheques;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) the Trading Fee, the SFC Transaction Levy
 and the AFRC Transaction Levy payable by the Company, all capital duty (if any), premium
 duty (if any), stamp duty (if any), Taxation, levy and other fees, costs and expenses payable
 in respect of the creation, issue, allotment, sale, distribution and delivery of the International
 Offer Shares, the International Offering, the execution and delivery of and the performance
 of any provisions of this Agreement or otherwise in connection with the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) [ *reserved* ];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) all costs and expenses related to the
 press conferences of the Company in relation to the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) all stock admission fees, processing charges
 and related expenses payable to HKSCC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) all CCASS transaction fees payable in
 connection with the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) all fees and expenses related to background
 check and searches, company searches, litigation and legal proceeding searches, bankruptcy
 and insolvency searches and directorship searches and other searches conducted in connection
 with the Global Offering approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) all expenses and application fees incurred
 in connection with any filing with, and clearance of the offering by Financial Industry Regulatory
 Authority, Inc. ()"**FINRA** "), and the fees and disbursements of counsel
 for the Underwriters in connection with, any required review by FINRA of the terms of the
 sale of the Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) *[reserved]*; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) *[reserved],* 

shall be borne by the Company but subject to terms and conditions under the engagement letters entered into between the Company and relevant parties (including but not limited to the Joint Sponsors and the Overall Coordinators) before the date of this Agreement, and the Company shall, and the Single Largest Group of Shareholders shall procure the Company to, pay or cause to be paid all such fees, costs, charges, Taxation and expenses. Notwithstanding anything to the contrary in Section 18, if any costs, expenses, fees or charges referred to in this Section is paid or to be paid by any of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or the International Underwriters for or on behalf of the Company, the Company shall, and the Single Largest Group of Shareholders shall procure the Company to, reimburse such costs, expenses, fees or charges to the relevant Joint Sponsor, Sponsor-OC, Overall Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager, CMI or International Underwriter (subject to the cap as stated in the engagement letters entered into between the Company and relevant parties) on an after-tax basis.

The Company shall further pay to the Joint Sponsors the sponsor fee and other fees and expenses of such amount and in such manner as have been separately agreed between the Company (or any member of the Group) and the Joint Sponsors pursuant to and in accordance with the terms of the Sponsor and Sponsor-OC Mandates.

If this Agreement shall be rescinded or terminated or shall not become unconditional or, for any other reason, the Global Offering is not completed, the Company shall not be liable to pay any Underwriting Commission and Incentive Fee under Section 1(c), but the Company shall, and the Single Largest Group of Shareholders shall procure the Company to, pay or reimburse or cause to be paid or reimbursed to the relevant parties, all costs, fees, charges, Taxation and expenses referred to in this Section which have been incurred or are liable to be paid by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and/or the International Underwriters and all other costs, fees, charges, Taxation and expenses payable by the Company pursuant to this Section within 15 business days of the first written request by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the International Underwriters or the relevant party which incurred the costs, fees, charges, Taxation and expenses, as the case may be, in accordance with the engagement letters entered into between the Company and relevant parties before the date of this Agreement.

**8.** **Additional Covenants of the Single Largest Group of Shareholders** 

The Single Largest Group of Shareholders agrees and undertakes with each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters to comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) without the prior written consent of the
 Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the International
 Underwriters) and unless in compliance with the requirements of the Listing Rules, except
 pursuant to the Stock-Borrowing Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) it/he will not, and will procure that the
 relevant registered holder(s), any nominee or trustee holding on trust for it/him and the
 companies controlled by it/him will not, at any time during the period commencing on the
 date of this Agreement and ending on, and including the date that is twelve months after
 the Listing Date (the "Twelve Month Period"), (A) sell, offer to sell, accept
 subscription for, contract or agree to sell, mortgage, charge, pledge, hypothecate, lend,
 grant or sell any option, warrant, contract or right to purchase, grant or purchase any option,
 warrant, contract or right to sell, or otherwise transfer or dispose of or create an Encumbrance
 over, or agree to transfer or dispose of or create an Encumbrance over, either directly or
 indirectly, conditionally or unconditionally, any Shares or other equity securities of the
 Company or any interest therein (including, without limitation, any securities convertible
 into or exchangeable or exercisable for or that represent the right to receive, or any warrants
 or other rights to purchase, any Shares or any such other securities, as applicable or any
 interest in any of the foregoing), or (B) enter into any swap or other arrangement that
 transfers to another, in whole or in part, any of the economic consequences of ownership
 (legal or beneficial) of any Shares or other equity securities of the Company or any interest
 therein (including, without limitation, any securities convertible into or exchangeable or
 exercisable for or that represent the right to receive, or any warrants or other rights to
 purchase, any Shares or any such other securities, as applicable or any interest in any of
 the foregoing), or (C) enter into any transaction with the same economic effect as any
 transaction specified in (A) or (B) above, or (D) offer to or agree to or
 announce any intention to effect any transaction specified in (A), (B) or (C) above,
 in each case, whether any of the transactions specified in (A), (B) or (C) above
 is to be settled by delivery of Shares or other equity securities of the Company or in cash
 or otherwise, and whether or not the transactions will be completed within the Twelve Month
 Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) until the
 expiry of the Twelve Month Period, in the event that it/he enters into any of the transactions
 specified in (i)(A), (i)(B) or (i)(C) or offer to or agrees to or contract to or
 publicly announce any intention to effect any such transaction, it/he will take all reasonable
 steps to ensure that such a disposal will not create a disorderly or false market in the
 securities of the Company.

The restrictions in this section 8 shall not prevent the Single Largest Group of Shareholders from (i) purchasing additional Class A Ordinary Shares or other securities of the Company and disposing of such additional Class A Ordinary Shares or securities of the Company in accordance with the Listing Rules, provided that any such purchase or disposal does not contravene the lock-up arrangements with the Single Largest Group of Shareholders referred to in this section 8 or the compliance by the Company with the Minimum Public Float Requirement and (ii) using the Shares or other securities of the Company or any interest therein beneficially owned by them as security (including a charge or a pledge) in favor of an authorized institution (as defined in the Banking Ordinance (Chapter 155 of the Laws of Hong Kong)) for a bona fide commercial loan, provided that (a) the relevant member(s) of the Single Largest Group of Shareholders will immediately inform the Company and the Overall Coordinators in writing of such pledge or charge together with the number of Shares or other securities of the Company so pledged or charged if and when it/he or the relevant registered holder(s) pledges or charges any Shares or other securities of the Company beneficially owned by it/him, and (b) when the relevant member(s) of the Single Largest Group of Shareholders receive(s) indications, either verbal or written, from the pledgee or chargee of any Shares that any of the pledged or charged Shares or other securities of the Company will be disposed of, it/he will immediately inform the Company and the Overall Coordinators of such indications.

The Company hereby undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters that upon receiving such information in writing from the Single Largest Group of Shareholders, it will, as soon as practicable and if required pursuant to the Listing Rules, the SFO and/or any other applicable Law, notify the Stock Exchange and/or other relevant Authorities, and make a public disclosure in relation to such information by way of an announcement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to advise the Overall Coordinators and
 the Joint Global Coordinators (acting on their own behalf and on behalf of the International
 Underwriters) promptly if at any time prior to the later of the Option Expiration Date and
 the date on which the Overall Coordinators or the Joint Global Coordinators notify the Company
 that the distribution of the Offer Shares is complete, (i) any event shall occur or
 any circumstance shall exist which renders or could render untrue or inaccurate or misleading
 in any respect any of the representations and warranties and other statements of the Warrantors
 herein or gives rise or could give rise to a claim under any of the indemnities contained
 in or given pursuant to this Agreement or the Hong Kong Underwriting Agreement or (ii) any
 event shall occur or any circumstance shall exist as a result of which it is necessary to
 amend or supplement the Registration Statement, the Time of Sale Prospectus, the Final Prospectus
 or any free writing prospectus so that the Registration Statement, the Time of Sale Prospectus,
 the Final Prospectus or any free writing prospectus, or any amendment or supplement thereto
 or any individual Supplemental Offering Material when considered together with the Time of
 Sale Prospectus or the Final Prospectus, would not include any untrue statement of a material
 fact or omit to state any material fact necessary in order to make the statements therein,
 in the light of the circumstances under which they were made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) save for the appointment of the Stabilizing
 Manager of the Global Offering, until the Overall Coordinators and the Joint Global Coordinators
 have notified the Company of the completion of the distribution of the Offer Shares, not
 to, and to procure its/his/her Affiliates, agents or any person acting on its/his/her behalf
 not to, either alone or with one or more other persons, engage in, directly or indirectly,
 any act or course of conduct (A) that creates a false or misleading impression as to
 the market in or the value of the Shares and any associated securities, or (B) the purpose
 of which is to create actual or apparent active trading in, or to raise the price of, the
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) save for the appointment of the Stabilizing
 Manager of the Global Offering, not to, and to procure its/his/her Affiliates, agents or
 any person acting on its/his/her behalf not to, (A) take or facilitate, directly or
 indirectly, any action which is designed to or which constitutes or which might reasonably
 be expected to cause or result in stabilization or manipulation of the price of any security
 of the Company to facilitate the sale or resale of any security of the Company or otherwise,
 (B) take, directly or indirectly, any action which would constitute a violation of the
 market misconduct provisions of Parts XIII and XIV of the SFO, (C) take or omit to take,
 directly or indirectly, any action which may result in the loss by any of the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs or the International Underwriters or any person acting
 for them as stabilizing manager of the ability to rely on any stabilization safe harbor provided
 by the Securities and Futures (Price Stabilizing) Rules under the SFO or otherwise,
 or (D) take or omit to take, directly or indirectly, any action (such as issuing any
 press release relating to any securities without an appropriate legend) in breach of the
 terms of the Hong Kong Underwriting Agreement or in violation of the Securities and Futures
 Ordinance of Hong Kong;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to do and perform all things required
 to be done and performed under this Agreement by him/it prior to or after each Time of Delivery
 and to satisfy all conditions precedent on its/his/her part to the delivery of the International
 Offer Shares as set forth herein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to indemnify and hold each of the Joint
 Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint
 Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters and their
 respective Affiliates harmless against any documentary, stamp or similar issuance or transfer
 Taxes, duties or fees and any transaction levies, commissions or brokerage charges, including,
 without limitation, any interest and penalties, payable in Hong Kong, the PRC, the United
 States or any other jurisdiction in which it is or may be required to be paid in connection
 with the creation, allotment, issuance, offer or distribution of the Offer Shares as contemplated
 in each of the Time of Sale Prospectus and the Final Prospectus and the execution and delivery
 of this Agreement, and, in particular, to indemnify and hold the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs and the International Underwriters and their respective Affiliates
 harmless against the Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy,
 if any, which may be required to be paid in connection with the offer and sale of the Offer
 Shares and/or the listing of the Shares on the Stock Exchange (except where such International
 Underwriters purchase Offer Shares for their investment accounts).

**9.** **Conditions of the International Underwriters' Obligations** 

The several obligations of the International Underwriters hereunder are subject to (x) all the respective representations and warranties and other statements herein on the part of the Company and the Single Largest Group of Shareholders being true and accurate and not misleading at and as of the date hereof, the Time of Sale, the date of the Final Prospectus, the date of any amendment or supplement to the Time of Sale Prospectus or the Final Prospectus and each Time of Delivery, (y) the performance and compliance by the Company and the Single Largest Group of Shareholders with all of its/his/her and their respective obligations and undertakings hereunder and (z) the following additional conditions precedent; *provided, however, that* the Overall Coordinators and the Joint Global Coordinators may, in their sole and absolute discretion, waive or modify (with or without condition(s) attached) any condition precedent set forth in this Section 9***;*** *provided, further, that*, with respect to the First Time of Delivery, the latest time for the Overall Coordinators and the Joint Global Coordinators to exercise their discretion in respect of the conditions set forth in this Section shall be 8:00 a.m., Hong Kong time, on the day of the First Time of Delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall, at each Time of Delivery,
 have delivered to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators
 a certificate of an officer of the Company, dated the applicable Time of Delivery, and in
 the form set forth in Exhibit A hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall, at each Time of Delivery,
 have delivered to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators
 an officer's certificate of the Company signed by the Chief Financial Officer, dated
 the applicable Time of Delivery with respect to certain financial, operational and business
 data of the Group contained in each of the Hong Kong Prospectus, the Time of Sale Prospectus
 and the Final Prospectus, and in form set forth in Exhibit B hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company shall, at each Time of Delivery,
 have delivered to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators
 a certificate of its company secretaries, dated the applicable Time of Delivery, and in the
 form set forth in Exhibit C hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each of the Single Largest Group of Shareholders
 shall have signed and furnished to the Joint Sponsors, the Overall Coordinators and the Joint
 Global Coordinators, a certificate, in the form attached hereto as Exhibit D, dated
 the applicable Time of Delivery. The Single Largest Group of Shareholders shall have furnished
 or caused to be furnished to the Joint Sponsors, the Overall Coordinators and the Joint Global
 Coordinators documents or certificates relating to such other matters as the Joint Sponsors,
 the Overall Coordinators and the Joint Global Coordinators may request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Cooley LLP, counsel for the Company as
 to U.S. law, shall have furnished to the Joint Sponsors, the Overall Coordinators and the
 Joint Global Coordinators at each Time of Delivery an opinion and a 10b-5 disclosure letter
 addressed to the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global
 Coordinators and the International Underwriters and dated the applicable Time of Delivery
 in form and substance satisfactory to the Joint Sponsors, the Overall Coordinators and the
 Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Cooley LLP, counsel for the Company as
 to Hong Kong law, shall have furnished to the Joint Sponsors, the Overall Coordinators and
 the Joint Global Coordinators at each Time of Delivery a Hong Kong opinion addressed to the
 Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators
 and the International Underwriters and dated the applicable Time of Delivery in form and
 substance satisfactory to the Joint Sponsors, the Overall Coordinators and the Joint Global
 Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Travers Thorp Alberga, counsel for the
 Company as to Cayman Islands law, shall have furnished to the Joint Sponsors, Overall Coordinators
 and the Joint Global Coordinators at each Time of Delivery an opinion addressed to the Joint
 Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators and the
 International Underwriters and dated the applicable Time of Delivery in form and substance
 satisfactory to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Commerce & Finance Law Offices,
 counsel for the Company as to PRC law, shall have furnished to the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators at each Time of Delivery copies of its opinion
 issued to the Company and expressly authorizing disclosure of such opinion to the Joint Sponsors,
 the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators and the International
 Underwriters and dated the applicable Time of Delivery in form and substance satisfactory
 to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Commerce & Finance Law Offices,
 PRC data counsel for the Company, shall have furnished to the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators at each Time of Delivery a memorandum regarding
 the Company's data compliances issued to the Company and expressly authorizing disclosure
 of such memorandum to the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the
 Joint Global Coordinators and the International Underwriters and dated the applicable Time
 of Delivery in form and substance satisfactory to the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Jun He Law Offices, counsel for the Company
 as to US/California law, shall have furnished to the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators at each Time of Delivery an opinion addressed to the Joint
 Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators and the
 International Underwriters and dated the applicable Time of Delivery in form and substance
 satisfactory to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Akin & Gump Strauss Hauer &
 Feld LLP, counsel for the Company as to U.S. export controls, sanctions, and outbound investment
 laws and regulations, shall have furnished to the Company, the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators at each Time of Delivery memorandums addressed
 to the Company and dated the applicable Time of Delivery in form and substance satisfactory
 to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators shall have received at each Time of Delivery an opinion
 and a 10b-5 disclosure letter of Latham & Watkins LLP, counsel for the International
 Underwriters as to U.S. law, dated the applicable Time of Delivery in form and substance
 satisfactory to the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators shall have received at each Time of Delivery an opinion
 of Latham & Watkins LLP, counsel for the International Underwriters as to Hong Kong
 law, dated the applicable Time of Delivery and in form and substance satisfactory to the
 Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators shall have received at each Time of Delivery an opinion
 of Han Kun Law Offices, counsel for the International Underwriters as to PRC law, dated the
 applicable Time of Delivery and in form and substance satisfactory to the Joint Sponsors,
 the Overall Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators shall have received from the Reporting Accountants letters
 dated, respectively, the date of this Agreement and each Time of Delivery, and addressed
 to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters,
 in form and substance satisfactory to the Joint Sponsors, the Overall Coordinators and the
 Joint Global Coordinators, which letters shall cover, without limitation, the various financial
 disclosures contained in each of the Registration Statement, the Time of Sale Prospectus
 and the Final Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) the Joint Sponsors, the Overall Coordinators
 and the Joint Global Coordinators shall have received written documents from each of the
 Warrantors confirming their authorized agents' acceptance of the appointments of process
 service agents in the United States as provided in Section 16 hereof on or prior to
 the First Time of Delivery;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) the Company shall have furnished to the
 Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators such other documents
 and certificates as the Joint Sponsors, the Overall Coordinators and the Joint Global Coordinators
 may reasonably request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) no amendment or supplement to the Time
 of Sale Prospectus or the Final Prospectus shall have been announced, issued, published or
 delivered to investors without prior written approval by the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) prior to and at each Time of Delivery,
 none of the Time of Sale Prospectus and the Final Prospectus shall include an untrue statement
 of a material fact or omit to state a material fact necessary in order to make the statements
 therein, in the light of the circumstances under which they are made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) none of the directors of the Company shall
 have revoked or withdrawn the authority and confirmations in the responsibility letter, statement
 of interests and power of attorney issued by him or her to the Company, the Joint Sponsors,
 the Overall Coordinators and the Joint Global Coordinators, and such authority and confirmations
 remain in full force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) since the respective dates as of which
 information is given in the Time of Sale Prospectus or in the Final Prospectus, there shall
 not have been any change that would, or could reasonably be expected to, individually or
 in the aggregate, have a Material Adverse Effect, or result in any development involving
 a prospective Material Adverse Effect, whether or not arising in the ordinary course of business,
 the effect of which is in the sole and final judgment of the Joint Sponsors, the Overall
 Coordinators and the Joint Global Coordinators so material and adverse as to make it impracticable
 or inadvisable to proceed with the Global Offering or the delivery of the Offer Shares being
 delivered at such Time of Delivery on the terms and in the manner contemplated in the Time
 of Sale Prospectus and the Final Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) none of the Reporting Accountants, the
 Industry Consultant, or the Company's PRC counsel shall have withdrawn its consent
 to the issue of each of the Registration Statement, the Time of Sale Prospectus and the Final
 Prospectus with the inclusion of its reports, letters, summaries of valuations, opinions,
 confirmations and/or authorizations (as the case may be) and references to its name included
 in the form and context in which it appears in the Registration Statement, the Time of Sale
 Prospectus or in the Final Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) the Company shall have obtained approval
 from the Stock Exchange granting the listing of, and permission to deal in, the Shares on
 the Stock Exchange, and such approval shall not have been revoked or suspended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) all waivers or exemptions stated in the
 Time of Sale Prospectus and the Final Prospectus to be granted by the Stock Exchange or the
 SFC shall have been granted and not otherwise invalidated, amended or withdrawn;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) CCASS shall have approved the Shares for
 book-entry transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) the CSRC having accepted the CSRC Filings
 and published the filing results in respect of the CSRC Filings on its website, and such
 notice of acceptance and/or filing results published not having otherwise been rejected,
 withdrawn, revoked or invalidated prior to 8:00 a.m. on the Listing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) the Hong Kong Underwriting Agreement
 shall have been executed by the parties thereto, become unconditional (except with respect
 to the unconditionality of this Agreement) and not have been terminated or otherwise ceased
 to have effect, and the Hong Kong Public Offering contemplated by the Hong Kong Underwriting
 Agreement shall have become unconditional and shall be closing substantially concurrently
 with the closing contemplated hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) subsequent to the respective dates as
 of which information is given in the Time of Sale Prospectus and the Final Prospectus, the
 Company shall not have purchased any of its issued capital stock, nor declared, paid or otherwise
 made any dividend or distribution of any kind on its capital stock of any class, nor transferred
 or distributed any cash or other assets to any third party or Affiliate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) the Final Prospectus shall have been
 filed with the SEC pursuant to Rule 424(b) under the Securities Act within the
 applicable time period prescribed for such filing by the rules and regulations under
 the Securities Act; all materials required to be filed by the Company pursuant to Rule 433(d) under
 the Securities Act shall have been filed with the SEC within the applicable time period prescribed
 for such filing by Rule 433; no stop order suspending the effectiveness of the
 Registration Statement or any part thereof shall have been issued and no proceeding for that
 purpose shall have been initiated or threatened by the SEC and no notice of objection of
 the SEC to the use of the Registration Statement or any post-effective amendment thereto
 pursuant to Rule 401(g)(2) under the Securities Act shall have been received;
 no stop order suspending or preventing the use of the Preliminary Prospectus, Final Prospectus
 or any free writing prospectus shall have been initiated or threatened by the SEC; and
 all requests for additional information on the part of the SEC shall have been complied with
 to the reasonable satisfaction of the Overall Coordinators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) no Registration Statement, Preliminary
 Prospectus, free writing prospectus or Final Prospectus or amendment or supplement to the
 Registration Statement, the Preliminary Prospectus, free writing prospectus or Final Prospectus
 shall have been filed to which the Joint Sponsors, the Overall Coordinators and the Joint
 Global Coordinators shall have objected; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) FINRA shall have confirmed in writing
 that it has not raised any objection with respect to the fairness and reasonableness of the
 underwriting terms and arrangements.

**10.** **Effective Date of Agreement; Termination** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall become effective
 when the parties hereto have executed and delivered this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any of the conditions specified in
 Section 9 shall not have been fulfilled when and as required herein, or if any of the
 certificates, opinions, written statements or letters furnished to the International Underwriters
 pursuant to Section 9 shall not be in all respects satisfactory in form and substance
 to the Overall Coordinators, this Agreement and all obligations of the International Underwriters
 hereunder may be terminated by the Overall Coordinators by notice (in writing) to the Company
 at, or at any time prior to, the First Time of Delivery or any Additional Time of Delivery,
 as applicable; *provided, however, that* the Overall Coordinators may, in their sole
 and absolute discretion, waive or modify any condition precedent set forth in Section 9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In addition, the obligations of the several
 International Underwriters hereunder shall be subject to termination. If at any time prior
 to 8:00 a.m. on the day that trading in the Class A Ordinary Shares commences on
 the Stock Exchange:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) there develops, occurs, exists or comes
 into force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any new law or regulation or any change
 or development involving a prospective change or any event or series of events or circumstances
 likely to result in a change or a development involving a prospective change in existing
 laws or regulations, or the interpretation or application thereof by any court or any competent
 Authority in or affecting Hong Kong, Cayman Islands, the PRC, the United States, the United
 Kingdom, the European Union (or any member thereof), Singapore, Saudi Arabia, or other jurisdictions
 relevant to the Group or the Global Offering (each a "**Relevant Jurisdiction** "
 and collectively, the "**Relevant Jurisdictions** "); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any change or development involving a
 prospective change, or any event or series of events or circumstances likely to result in
 a change or prospective change, in any local, national, regional or international financial,
 political, military, industrial, economic, fiscal, legal, regulatory, currency, credit or
 market conditions, Taxation, equity securities or currency exchange rate or controls or any
 monetary or trading settlement system, or foreign investment regulations (including, without
 limitation, a devaluation of the Hong Kong dollar, United States dollar or Renminbi against
 any foreign currencies, a change in the system under which the value of the Hong Kong dollar
 is linked to that of the United States dollar or the Renminbi is linked to any foreign currency
 or currencies) or other financial markets (including, without limitation, conditions in stock
 and bond markets, money and foreign exchange markets, the inter-bank markets and credit markets)
 in or affecting any Relevant Jurisdictions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any event or series of events, or circumstances
 in the nature of force majeure (including, without limitation, any acts of government, declaration
 of a regional, national or international emergency or war, calamity, crisis, economic sanctions,
 strikes, labor disputes, other industrial actions, lock-outs, fire, explosion, flooding,
 tsunami, earthquake, volcanic eruption, civil commotion, riots, rebellion, public disorder,
 paralysis in government operations, acts of war, epidemic, pandemic, outbreak or escalation,
 mutation or aggravation of diseases, or interruption or delay in transportation, local, national,
 regional or international outbreak or escalation of hostilities (whether or not war is or
 has been declared), act of God or act of terrorism (whether or not responsibility has been
 claimed)) in or affecting any of the Relevant Jurisdictions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) the imposition or declaration of any moratorium,
 suspension or limitation (including without limitation, any imposition of or requirement
 for any minimum or maximum price limit or price range) on (i) the trading in shares
 or securities generally on the Stock Exchange, the Shanghai Stock Exchange, the Shenzhen
 Stock Exchange, the Singapore Stock Exchange, the New York Stock Exchange, the Nasdaq or
 the London Stock Exchange; or (ii) the trading in any securities of the Company listed
 or quoted on a stock exchange or an over-the-counter market; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) the imposition or declaration of any general
 moratorium on commercial banking activities in or affecting any of the Relevant Jurisdictions
 or any disruption in commercial banking or foreign exchange trading or securities settlement
 or clearing services, procedures or matters in or affecting any of the Relevant Jurisdictions;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) other than with the prior written consent
 of the Overall Coordinators, the issue or requirement to issue by the Company of a supplement
 or amendment to the Hong Kong Prospectus or other documents in connection with the offer
 and sale of the Offer Shares pursuant to the Companies (Winding up and Miscellaneous Provisions)
 Ordinance or the Listing Rules or upon any requirement or request of the Stock Exchange
 and/or the SFC; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) the commencement by any Authority or other
 regulatory or political body or organization of any public action or investigation against
 a Group Company or a director or a senior management member of any Group Company or announcing
 an intention to take any such action; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) the imposition of sanctions or export
 controls in whatever form, directly or indirectly, on any Group Company or any member of
 the Single Largest Group of Shareholders or by or on any Relevant Jurisdiction, or the withdrawal
 of trading privileges which existed on the date of this Agreement, in whatever form, directly
 or indirectly, by, or for, any Relevant Jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) any valid demand by creditors for payment
 or repayment of indebtedness of any member of the Group or in respect of which any member
 of the Group is liable prior to its stated maturity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(J) any non-compliance of the Offering Documents
 (or any other documents used in connection with the contemplated offering, allotment, issue
 or sale of any of the Offer Shares), the CSRC Filings or any aspect of the Global Offering
 with the Listing Rules or any other applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(K) any litigation, dispute, legal action
 or claim or regulatory or administrative investigation or action being threatened, instigated
 or announced against any member of the Group or any member of the Single Largest Group of
 Shareholders or any Director or senior management members as named in the Hong Kong Prospectus;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(L) any contravention by any Group Company
 or any Director of the Listing Rules or applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(M) any change or prospective change, or a
 materialization of, any of the risks set out in the section headed "Risk Factors"
 in the Offering Documents,

which, in any such case individually or in the aggregate, in the sole and absolute opinion of the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the International Underwriters): (I) has or will or may have a material adverse effect, whether directly or indirectly, on the assets, liabilities, business, general affairs, management, prospects, shareholders' equity, profits, losses, results of operations, position or condition, financial or otherwise, or performance of the Company or the Group as a whole; (II) has or will or may have a material adverse effect on the success of the Global Offering or the level of applications under the Hong Kong Public Offering or the level of indications of interest under the International Offering; (III) makes or will make or may make it impracticable, inadvisable, inexpedient or incapable for any material part of this Agreement, the International Public Offering or the Global Offering to be performed or implemented as envisaged, or for the International Public Offering and/or the Global Offering to proceed or to market the Global Offering or the delivery or distribution of the Offer Shares on the terms and in the manner contemplated by the Offering Documents; or (IV) has or will or may have the effect of making any part of this Agreement (including underwriting) incapable of performance in accordance with its terms or preventing the processing of applications and/or payments pursuant to the Global Offering or pursuant to the underwriting thereof, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) there has come to the notice of the Joint
 Sponsors and the Overall Coordinators (for themselves and on behalf of the International
 Underwriters) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any development or occurrence of a suspension
 or limitation in trading of the Company's securities on the Nasdaq; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any statement contained in any of the
 Offering Documents, the CSRC Filings and/or any notices, announcements, advertisements, communications
 or other documents issued or used by or on behalf of the Company in connection with the International
 Offering (including any supplement or amendment thereto) (the "**Global Offering Documents** ")
 was, when it was issued, or has become untrue, incorrect, inaccurate in any material respect
 or misleading, unless such untrue or misleading statement has been properly rectified by
 the Company in a timely manner; or that any estimate, forecast, expression of opinion, intention
 or expectation contained in any such documents, was, when it was issued, or has become unfair
 or misleading in any respect or based on untrue, dishonest or unreasonable assumptions or
 given in bad faith; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any matter has arisen or has been discovered
 which would, had it arisen or been discovered immediately before the date of the Hong Kong
 Prospectus, constitute a material omission or misstatement in any Global Offering Document;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any breach of, or any event or circumstance
 rendering untrue or incorrect or misleading in any respect, any of the representations, warranties
 and undertakings given by the Company or the Single Largest Group of Shareholders in this
 Agreement or the Hong Kong Underwriting Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any event, act or omission which gives
 rise or is likely to give rise to any liability of any of the Indemnifying Parties pursuant
 to the indemnities in this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) any material breach of any of the obligations
 or undertakings imposed upon the Company or any member of the Single Largest Group of Shareholders
 to this Agreement or the Hong Kong Underwriting Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) there is any change or development involving
 a prospective change constituting or having a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) that the Chairman of the Board, any executive
 Director or any member of senior management of the Company named in the Hong Kong Prospectus
 seeks to retire, or is removed from office or vacating his/her office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) any Director or any member of senior management
 of the Company named in the Hong Kong Prospectus is being charged with an indictable offence
 or prohibited by operation of law or otherwise disqualified from taking part in the management
 or taking directorship of a company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(J) the Company withdraws the Hong Kong Prospectus
 (and/or any other documents used in connection with the offer or sale of any of the Offer
 Shares pursuant to the Global Offering) or the Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(K) that the approval by the Listing Committee
 of the listing of, and permission to deal in, (a) the Class A Ordinary Shares in
 issue and to be issued pursuant to the Global Offering (including the additional Class A
 Ordinary Shares which may be issued pursuant to the exercise of the Over-allotment Option);
 (b) the Class A Ordinary Shares to be issued pursuant to the 2018 Share Plan, and
 (c) the Class A Ordinary Shares that are issuable upon conversion of the Class B
 Ordinary Shares on a one to one basis is refused or not granted, other than subject to customary
 conditions, on or before the Listing Date, or if granted, the approval is subsequently withdrawn,
 cancelled, qualified (other than by customary conditions), revoked or withheld; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(L) any person (other than any of the Joint
 Sponsors) has withdrawn its consent to the issue of the Hong Kong Prospectus with the inclusion
 of its reports, letters and/or legal opinions (as the case may be) and references to its
 name included in the form and context in which it respectively appears; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(M) any prohibition on the Company for whatever
 reason from offering, allotting, issuing or selling any of the Offer Shares pursuant to the
 terms of the Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(N) any person whose consent is required for
 the issue of the Offering Documents (other than the Joint Sponsors and the Overall Coordinators)
 has withdrawn or sought to withdraw its consent to being named in any of the Offering Documents
 or to the issue of any of the Offering Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(O) an order or petition is presented for
 the winding-up or liquidation of any member of the Group, or any member of the Group makes
 any composition or arrangement with its creditors or enters into a scheme of arrangement
 or any resolution is passed for the winding-up of any member of the Group or a provisional
 liquidator, receiver or manager is appointed over all or part of the assets or undertaking
 of any member of the Group or anything analogous thereto occurs in respect of any member
 of the Group; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(P) (A) the notice of acceptance of the
 CSRC Filings issued by the CSRC and/or the results of the CSRC Filings published on the website
 of the CSRC is rejected, withdrawn, revoked or invalidated; or (B) other than with the
 prior written consent of the Overall Coordinators, the issue or requirement to issue by the
 Company of a supplement or amendment to the CSRC Filings pursuant to the CSRC Rules or
 upon any requirement or request of the CSRC; or (C) any non-compliance of the CSRC Filings
 with the CSRC Rules or any other applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Q) that a material portion of the orders
 placed or confirmed in the bookbuilding process have been withdrawn, terminated or cancelled,
 or with respect to which the payment of the relevant orders and/or investment commitment
 has not been received or settled in the stipulated time and manner or otherwise;

then, in each case, the Overall Coordinators (for themselves and on behalf of the International Underwriters) may, in their sole and absolute discretion and upon giving notice in writing to the Company, terminate this Agreement with immediate effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If, after the execution and delivery of
 this Agreement, the sale and delivery of the Offer Shares, as contemplated by this Agreement,
 is not carried out as a result of any termination of this Agreement pursuant to this Section 10
 or any other provision hereof, the Company and the Single Largest Group of Shareholders shall
 not be under any obligation or liability under this Agreement (except as provided in Sections
 7 and 12 hereof) and the International Underwriters shall be under no obligation or liability
 to the Company and the Single Largest Group of Shareholders (except to the extent provided
 in Section 12 hereof) or to one another under this Agreement.

**11.** **Increase in International Underwriters' Commitments** 

If any International Underwriter shall default in its obligation to purchase the International Offer Shares which it has agreed to purchase hereunder (otherwise than for a failure of a condition precedent set forth in Section 9 hereof or a reason sufficient to justify the termination of this Agreement under subsection 10(c) hereof) at any Time of Delivery, the Joint Global Coordinators and the Overall Coordinators may in their discretion arrange for the Joint Global Coordinators and the Overall Coordinators or another party or other parties to purchase such International Offer Shares on the terms contained herein. If within thirty-six hours after such default by any International Underwriter, the Joint Global Coordinators and the Overall Coordinators do not arrange for the purchase of such International Offer Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Joint Global Coordinators and the Overall Coordinators to purchase such International Offer Shares on such terms. In the event that, within the respective prescribed periods, the Joint Global Coordinators and the Overall Coordinators notify the Company that the Joint Global Coordinators and the Overall Coordinators have so arranged for the purchase of such International Offer Shares, or the Company notifies the Joint Global Coordinators and the Overall Coordinators that it has so arranged for the purchase of such Shares, the Joint Global Coordinators and the Overall Coordinators or the Company shall have the right to postpone such Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Time of Sale Prospectus and the Final Prospectus, or in any other documents or arrangements, and the Company agrees, and each of the Single Largest Group of Shareholders agrees to procure the Company, to make promptly any such changes.

Without relieving any defaulting International Underwriter from its obligations hereunder, the Company agrees with the non-defaulting International Underwriters that it will not sell any International Offer Shares hereunder unless all of the International Offer Shares are purchased by the International Underwriters (including International Underwriters substituted pursuant to the foregoing paragraph).

If, after giving effect to any arrangements for the purchase of the International Offer Shares of a defaulting International Underwriter or International Underwriters by the Joint Global Coordinators, the Overall Coordinators and the Company as provided in the first paragraph of this Section 11, the aggregate number of such International Offer Shares which remains unpurchased does not exceed one tenth of the aggregate number of all the International Offer Shares to be purchased at such Time of Delivery, then the Company shall have the right to require each non-defaulting International Underwriter to purchase the number of International Offer Shares which such International Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting International Underwriter to purchase its *pro rata* share (based on the number of Firm Shares which such International Underwriter agreed to purchase hereunder) of the International Offer Shares of such defaulting International Underwriter or International Underwriters for which such arrangements have not been made; *provided that* nothing herein, and no action taken hereunder, shall relieve a defaulting International Underwriter from liability for its default.

If, after giving effect to any arrangements for the purchase of the International Offer Shares of a defaulting International Underwriter or International Underwriters by the Joint Global Coordinators, the Overall Coordinators and the Company as provided in the first paragraph of this Section 11, the aggregate number of such International Offer Shares which remains unpurchased exceeds one tenth of the aggregate number of all the International Offer Shares to be purchased at such Time of Delivery, or if the Company shall not exercise the right described in the foregoing paragraph to require non-defaulting International Underwriters to purchase International Offer Shares of a defaulting International Underwriter or International Underwriters, then this Agreement (or, with respect to the second Time of Delivery, the obligations of the International Underwriters to purchase and of the Company to sell the Option Shares) shall thereupon terminate without further act or deed and without any obligation or liability on the part of the Warrantors (except to the extent provided in Sections 7, 10 and 12 hereof) and without any obligation or liability on the part of any non-defaulting International Underwriter hereunder (except to the extent provided in Section 12 hereof); *provided that* nothing herein, and no action taken hereunder, shall relieve a defaulting International Underwriter from liability for its default.

The term "**International Underwriter**" as used in this Agreement shall refer to and include any person substituted under this Section 11 with like effect as if such person had originally been a party to this Agreement with respect to such International Offer Shares.

**12.** **Indemnity and Contribution** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the Warrantors, severally and
 jointly agrees to indemnify, defend and hold harmless each of the Overall Coordinators, the
 Sponsor-OCs, the Joint Sponsors, the Joint Global Coordinators, the Joint Bookrunners, the
 Joint Lead Managers, the CMIs and the International Underwriters, each of their respective
 Affiliates, as well as their respective head offices, branches, representatives, partners,
 associates, agents, directors, officers, members and employees, any person who controls any
 such Overall Coordinator, Joint Global Coordinator, Sponsor-OC, Joint Sponsor, Joint Bookrunner,
 Joint Lead Manager, CMI and International Underwriter within the meaning of Section 15
 of the Securities Act or Section 20 of the Exchange Act, and the successors and assigns
 of all of the foregoing persons, from and against any loss, damage, liability, payment, cost,
 charge, expense, award or claim (collectively, "**Loss**") and any action,
 writ, suit or proceeding (including, without limitation, any investigation or inquiry by
 or before any Governmental Authority) (each, a "**Proceeding**") which, jointly
 or severally, any such Overall Coordinator, Sponsor-OC, Joint Sponsor, Joint Global Coordinator,
 Joint Bookrunner, Joint Lead Manager, CMI and International Underwriter or any such person
 may incur or become subject to under the Securities Act, the Exchange Act, other U.S. federal
 or state statutory law or U.S. federal or state common law, or with respect to any Governmental
 Authority, or otherwise (including, without limitation, all legal and other expenses incurred
 in investigating or defending such Loss or Proceedings), insofar as such Loss and Proceedings
 (or actions in respect thereof) arises out of or is based upon any untrue statement or alleged
 untrue statement of a material fact contained in the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as defined in
 Rule 433(h) under the Securities Act, any "issuer information" filed
 or required to be filed pursuant to Rule 433(d) under the Securities Act, any road
 show as defined in Rule 433(h) under the Securities Act (a "**road show** "),
 the Final Prospectus, any Testing-the-Waters Communications, any Supplemental Offering Material,
 or any amendment or supplement to any of the foregoing, or arises out of or is based upon
 any omission or alleged omission to state a material fact required to be stated therein or
 necessary in order to make the statements therein, not misleading, except insofar as any
 such Loss arises out of or is based upon any untrue statement or alleged untrue statement
 of a material fact, or omission or alleged omission to state a material fact contained in
 the Registration Statement, the Preliminary Prospectus, the free writing prospectus, the
 Time of Sale Prospectus, the Final Prospectus, any "issuer information" filed
 or required to be filed pursuant to Rule 433(d) under the Securities Act, any road
 show as defined in Rule 433(h) under the Securities Act, any Testing-the-Waters
 Communications or any Supplemental Offering Material or any amendment or supplement to any
 of the foregoing made in reliance upon, and in conformity with, information concerning such
 International Underwriter furnished in writing by or on behalf of such International Underwriter
 through the Overall Coordinators and the Joint Global Coordinators to the Company expressly
 and specifically for use therein; *provided, however that* the parties acknowledge and
 agree that for the purpose of this Section 12 hereunder, the only information furnished
 to the Company by any International Underwriters through the Overall Coordinators and the
 Joint Global Coordinators expressly for use in the Time of Sale Prospectus and the Final
 Prospectus, or any amendment or supplement thereto is the International Underwriter Information
 (as defined in Section 13). This indemnity agreement will be in addition to any liability
 that the Warrantors may otherwise have.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [ *reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each International Underwriter, severally
 but not jointly, agrees to indemnify and hold harmless the Company and the Single Largest
 Group of Shareholders from and against any loss, damage, expense, liability or claim which
 the Company or any of the aforementioned persons may incur under the Securities Act, the
 Exchange Act, U.S. federal or state common law, or otherwise, insofar as such loss, damage,
 expense, liability or claim arises out of or is based upon any untrue statement or alleged
 untrue statement of a material fact contained in the Time of Sale Prospectus and the Final
 Prospectus or any amendment or supplement to any of the foregoing, or omission or alleged
 omission to state therein a material fact necessary in order to make the statements therein,
 in light of the circumstances under which they were made, not misleading, but only to the
 extent that such untrue statement or alleged untrue statement or omission or alleged omission
 is made in reliance upon, and in conformity with, information concerning such International
 Underwriter furnished in writing by or on behalf of such International Underwriter through
 the Overall Coordinators and the Joint Global Coordinators to the Company expressly and specifically
 for use therein; provided, however that the parties acknowledge and agree that for the purpose
 of this Section 12 hereunder, the only information furnished to the Company by any International
 Underwriters through the Overall Coordinators and the Joint Global Coordinators expressly
 for use in the Time of Sale Prospectus and the Final Prospectus or any amendment or supplement
 thereto is the International Underwriter Information (as defined in Section 13).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any Proceeding is brought against a
 person (an "**Indemnified Party**") in respect of which indemnity may be sought
 against any of the Warrantors or an International Underwriter (as applicable, the "**Indemnifying Party**") pursuant to either subsection (a), (b) or (c), respectively, of this
 Section 12, such Indemnified Party shall, if and to the extent permitted by any Law
 or obligation of confidentiality, promptly notify such Indemnifying Party in writing of the
 institution of such Proceeding; *provided, however, that* the omission to so notify
 such Indemnifying Party shall not relieve such Indemnifying Party from any liability which
 such Indemnifying Party may have to any Indemnified Party under this Section 12, except
 to the extent that it has been materially prejudiced (through the forfeiture of substantive
 rights or defenses) by such failure; and *provided, further, that* the failure to notify
 the Indemnifying Party shall not relieve it from any liability that it may have to an Indemnified
 Party otherwise than under this Section 12.

The Indemnifying Party may participate at its expense in the defense of such Proceeding including appointing counsel at its expense to act for it in such Proceeding; *provided, however, that* counsel to the Indemnifying Party shall not (except with the consent of any Indemnified Party or Parties) also be counsel to the Indemnified Party or Parties. Unless such Indemnified Party or Parties consent to counsel to the Indemnifying Party acting as counsel to the Indemnified Party or Parties in such Proceeding, any Indemnified Party or Parties shall have the right to appoint its or their own separate counsel (in addition to local counsel) in such Proceeding; *provided, however, that* the giving of such consent or appointment of such separate counsel (in addition to local counsel) shall be determined, as applicable, by the Overall Coordinators, the Joint Global Coordinators and the Joint Sponsors (in the case of such Indemnified Party or Parties being any Overall Coordinator, Sponsor-OC, Joint Sponsor, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager, CMI, International Underwriter, each of their respective Affiliates, as well as their respective head offices, branches, its representatives, partners, associates, agents, directors, officers, members or employees, any person who controls any such Overall Coordinator, Sponsor-OC, Joint Sponsor, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager, CMI or International Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and any successor or assign of any of the foregoing persons), or by the Company (in the case of such Indemnified Party or Parties being the Company, the Single Largest Group of Shareholders, the directors and officers of the Company, as applicable). The fees and expenses of separate counsel (in addition to local counsel) to the Indemnified Party or Parties shall be borne by the Indemnifying Party and paid as incurred; it being understood, however, that such Indemnifying Party shall not be liable for the fees and expenses of more than two separate counsel (including any local counsel) in any one Proceeding or series of related Proceedings in the same jurisdiction representing the Indemnified Party or Parties who is or are parties to such Proceeding or Proceedings.

The Indemnifying Party shall be liable for any settlement or compromise by the Indemnified Party or Parties of, or any judgment with respect to, any pending or threatened Proceeding, whether effected with or without the consent of such Indemnifying Party, and agrees to indemnify and hold harmless the Indemnified Party or Parties from and against any loss or liability by reason of such settlement, compromise or judgment. No Indemnifying Party shall, without the written consent of the Indemnified Party, effect any settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened Proceeding in respect of which any Indemnified Party is or could be or could have been a party and indemnity or contribution could be or could have been sought hereunder by such Indemnified Party, unless such settlement, compromise or consent judgment includes an unconditional release of such Indemnified Party, in form and substance reasonably satisfactory to such Indemnified Party, from all liability on claims that are the subject matter of such Proceeding and does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of such Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the indemnification provided for in
 this Section 12 is unavailable to an Indemnified Party under subsection (a), (b) or
 (c) of this Section 12 or insufficient to hold an Indemnified Party harmless in
 respect of any Losses (or any Proceedings in respect thereof) referred to therein, then each
 applicable Indemnifying Party shall contribute to the amount paid or payable by such Indemnified
 Party as a result of such Losses (or any Proceedings in respect thereof) (A) in such
 proportion as is appropriate to reflect the relative benefits received by the Warrantors
 on the one hand, and by the Overall Coordinators, the Sponsor-OCs, the Joint Sponsors, the
 Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the
 International Underwriters, each of their respective Affiliates on the other hand, from the
 International Offering or (B) if the allocation provided by subsection (A) above
 is not permitted by applicable law, in such proportion as is appropriate to reflect not only
 the relative benefits referred to in subsection (A) above but also the relative fault
 of the Warrantors on the one hand, and of the Overall Coordinators, the Sponsor-OCs, the
 Joint Sponsors, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers,
 the CMIs and the International Underwriters, each of their respective Affiliates on the other
 hand, in connection with the statements or omissions which resulted in such Losses (or any
 Proceedings in respect thereof), as well as any other relevant equitable considerations.

The relative benefits received by the Warrantors on the one hand, and by the Overall Coordinators, the Sponsor-OCs, the Joint Sponsors, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters, each of their respective Affiliates on the other hand, shall be deemed to be in the same respective proportions which the total proceeds from the International Offering received by the Company (net of the total commissions and incentive fee received by the International Underwriters pursuant to Section 1 hereof but before deducting expenses), and the total commissions and incentive fee received by the International Underwriters pursuant to Section 1 hereof, bear to the aggregate International Offer Price of the International Offer Shares. The relative fault of the Warrantors on the one hand, and of the International Underwriters on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Warrantors on the one hand, or by the Overall Coordinators, the Sponsor-OCs, the Joint Sponsors, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters, each of their respective Affiliates on the other hand, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Warrantors, the Overall Coordinators,
 the Sponsor-OCs, the Joint Sponsors, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the International Underwriters agree that it would
 not be just and equitable if contribution pursuant to subsection (e) of this Section 12
 were determined by *pro rata* allocation (even if the International Underwriters and
 their Affiliates were treated as one entity for such purpose) or by any other method of allocation
 that does not take account of the equitable considerations referred to above in subsection
 (e) of this Section 12. For the avoidance of doubt, the amount paid or payable
 by an Indemnified Party as a result of the Losses (or the Proceedings in respect thereof)
 referred to above in subsection (e) of this Section 12 shall include all legal
 and other expenses reasonably incurred by such Indemnified Party in connection with investigating
 or defending such Losses (or such Proceedings in respect thereof). Notwithstanding the provisions
 of this Section 12, no International Underwriter nor its Affiliates shall be required
 to contribute any amount in excess of the amount by which the commission received by such
 International Underwriter pursuant to Section 1 hereof exceeds the amount of any damage
 that such International Underwriter or its Affiliates have otherwise been required to pay
 by reason of such untrue or alleged untrue statement or omission or alleged omission. No
 person guilty of fraudulent misrepresentation shall be entitled to contribution from any
 person who was not guilty of such fraudulent misrepresentation. The International Underwriters'
 obligations to contribute pursuant to this Section 12 are several in proportions to
 their respective purchase obligations and not joint. The Warrantors' obligations to
 contribute pursuant to this Section 12 are joint and several and will be in addition
 to any liability that the Warrantors may otherwise have, and the obligations of each International
 Underwriter under this Section 12 shall be in addition to any liability which such International
 Underwriter may otherwise has.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The indemnity and contribution agreements
 contained in this Section 12 and the covenants, warranties and representations and other
 statements of the Warrantors contained in, or made by or on behalf of them pursuant to, this
 Agreement, shall remain in full force and effect, regardless of any investigation (or any
 statement as to the results thereof) made by or on behalf of any Overall Coordinator, Joint
 Global Coordinator, Joint Sponsor, the Sponsor-OC, Joint Bookrunner, Joint Lead Manager,
 CMI, International Underwriter, each of their respective Affiliates, as well as their
 respective head offices, branches, its representatives, partners, associates, agents, directors,
 officers, members and employees, any person who controls any such Overall Coordinator, Joint
 Global Coordinator, Joint Sponsor, Sponsor-OC, Joint Bookrunner, Joint Lead Manager, CMI
 or International Underwriter within the meaning of Section 15 of the Securities Act
 or Section 20 of the Exchange Act, or any successor or assign of any of the foregoing
 persons, or by or on behalf of the Company, the Single Largest Group of Shareholders, the
 directors or officers of the Company, and shall survive any termination of this Agreement
 or the issuance and delivery of and payment for the Offer Shares.

**13.** **Information Furnished by the International Underwriters** 

Each of the Warrantors acknowledges and agrees that for the purposes of this Agreement, the only information furnished in writing to the Company by or on behalf of any International Underwriter through the Overall Coordinators and the Joint Global Coordinators expressly and specifically for use in the Time of Sale Prospectus and the Final Prospectus is the names, addresses and logos of such International Underwriter appearing in the Time of Sale Prospectus and the Final Prospectus (the "**International Underwriter Information**").

**14.** **Notices** 

In all dealings hereunder, the Overall Coordinators and the Joint Global Coordinators shall act on behalf of each of the International Underwriters, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any International Underwriter made or given by the Overall Coordinators and the Joint Global Coordinators.

Except as otherwise herein provided, all statements, requests, notices and agreements hereunder shall be in writing and delivered or sent by mail,

(a) if to the Overall Coordinators or International
 Underwriters, shall be sufficient in all respects if delivered or sent to:

---

| | |
|:---|:---|
| If to **China International Capital Corporation Hong Kong Securities Limited**, to: | If to **China International Capital Corporation Hong Kong Securities Limited**, to: |
| Address: | [\*\*\*] |
| Email: | [\*\*\*] |
| Attention: | [\*\*\*] |
| If to **Morgan Stanley Asia Limited**, to: | If to **Morgan Stanley Asia Limited**, to: |
| Address: | [\*\*\*] |
| Email: | [\*\*\*] |
| Attention: | [\*\*\*] |
| If to **J.P. Morgan Securities (Asia Pacific) Limited,** to: | If to **J.P. Morgan Securities (Asia Pacific) Limited,** to: |
| Address: | [\*\*\*] |
| Email: | [\*\*\*] |
| Attention: | [\*\*\*] |

---

(b) if to the **Company**, shall be sufficient
 in all respects if delivered or sent to the Company at [\*\*\*], attention: [\*\*\*], email: [\*\*\*].

(c) if to the **Single Largest Group of Shareholders**,
 shall be sufficient in all respects if delivered or sent to:

Address: [\*\*\*] <br> Email: [\*\*\*] <br> Attention: [\*\*\*]

**15.** **Governing Law; Construction** 

This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement, directly or indirectly, shall be governed by, and construed in accordance with, the laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

**16.** **Submission to Jurisdiction; Waiver of Immunity** 

Any action, proceeding, claim or counterclaim of any kind or nature whatsoever arising out of or in any way relating to this Agreement, directly or indirectly, may be commenced, prosecuted or continued in the courts of the State of New York located in the City and County of New York or in the United States District Court for the Southern District of New York (each a "**New York Court**"), which courts shall have non-exclusive jurisdiction over the adjudication of such matters, and each of the Warrantors irrevocably consents to the non-exclusive jurisdiction of the New York Courts and personal service, and waives any objection to any New York Court on grounds of inconvenient forum or otherwise, with respect thereto. The Warrantors agree that any International Underwriter or any Indemnified Party entitled to seek indemnity against the Warrantors hereunder shall have the sole and absolute right to join the Warrantors as a party to any action, proceeding, claim or counterclaim arising out of or relating to this Agreement which is brought in any court by any third party against such International Underwriter or Indemnified Party or to otherwise pursue any claim (whether by way of a claim for an indemnity, contribution or otherwise) against the Warrantors in such action, proceeding, claim or counterclaim. Each of the Warrantors hereby irrevocably consents to personal jurisdiction, service and venue in any court in which any action, proceeding, claim or counterclaim arising out of or relating to this Agreement is brought by any third party against any Overall Coordinator, Joint Global Coordinator, Joint Sponsor, Sponsor-OC, Joint Bookrunner, Joint Lead Manager, CMI, International Underwriter or any other Indemnified Party entitled to seek indemnity against the Warrantors hereunder. Each party hereto irrevocably waives and agrees not to claim all right to trial by jury in any action, proceeding, claim or counterclaim (whether based upon contract, tort or otherwise) in any way arising out of or relating to this Agreement. Each of the Warrantors irrevocably agrees that a final judgment in any such action, proceeding, claim or counterclaim brought in any New York Court shall be conclusive and binding upon the Warrantors, as the case may be, and may be enforced in any other courts to the jurisdiction of which the Warrantors, as the case may be, is or may be subject by suit upon such judgment. Each of the Warrantors, on behalf of itself and any of its properties, assets and revenues, hereby irrevocably waives and agrees not to claim, to the fullest extent permitted by applicable law, any and all immunity (whether on the basis of sovereignty or crown status, immunity for "acts of state" or otherwise) from any action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any court, from service of process, from attachment to or in aid of execution of any judgment, decision, determination, order or award (regardless of whether such attachment is sought prior to or following the entry of judgment, decision, determination, order or award), or from other action, suit or proceeding for the giving of any relief or for the enforcement of any judgment, decision, determination, order or award, to which it or its properties, assets and revenues may otherwise be entitled in any action, suit or proceeding arising in connection with this Agreement or the transactions contemplated hereby brought in any New York Courts or in any other courts. Each of the Warrantors has appointed, without power of revocation, Cogency Global Inc. with offices at 122 East 42nd Street, 18th Floor, New York, NY 10168 as its agent to accept and acknowledge on its behalf service of any and all process which may be served in any action, suit or proceeding, claim or counterclaim arising out of or relating to this Agreement and in any manner permitted by applicable law. Service of process upon such authorized agent and written notice of such service to the Warrantors shall be deemed, in every respect, effective service of process upon the Warrantors, as the case may be.

**17.** **Currency Indemnity** 

In respect of any judgment or order or award given or made for any amount due hereunder to the Overall Coordinators, the Joint Global Coordinators, the Joint Sponsors, the Sponsor-OCs, the Joint Bookrunners, the CMIs, the International Underwriters, or any other Indemnified Party that is expressed and paid in a currency (the "**judgment currency**") other than United States dollars, the Warrantors will indemnify each Overall Coordinator, Joint Global Coordinator, Joint Sponsor, Sponsor-OC, Joint Bookrunner, Joint Lead Manager, the CMI, International Underwriter, or any other Indemnified Party against any loss incurred by such Overall Coordinator, Joint Global Coordinator, Joint Sponsor, Sponsor-OC, Joint Bookrunner, Joint Lead Manager, CMI, International Underwriter or any other Indemnified Party as a result of any variation as between (A) the rate of exchange at which the United States dollar amount is converted into the judgment currency for the purpose of such judgment or order and (B) the rate of exchange at which such Overall Coordinator, Joint Global Coordinator, Joint Sponsor, Sponsor-OC, Joint Bookrunner, Joint Lead Manager, CMI, International Underwriter or any other Indemnified Person is able to purchase United States dollars with the amount of the judgment currency actually received by such person. The foregoing indemnity shall constitute a separate and independent obligation of the Warrantors and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term "**rate of exchange**" shall include any premiums and costs of exchange payable in connection with the purchase of or conversion into United States dollars.

**18.** **Tax** 

All payments to be made by or on behalf of the Company or the Single Largest Group of Shareholders, as the case may be, under this Agreement shall be paid free and clear of and without deduction or withholding for or on account of, any and all present or future Taxes. If any Taxes are required by any Laws to be deducted or withheld in connection with such payments, the Company or the Single Largest Group of Shareholders, as the case may be, will increase the amount paid and/or to be paid so that the full amount of such payments as agreed in this Agreement is received by the other parties as applicable.

If any of the other parties is required by any Authority to pay any Taxes as a result of this Agreement, the Company (or the Single Largest Group of Shareholders, as the case may be) will pay an additional amount as may be necessary to such party so that the full amount of such payments as agreed in this Agreement to be paid to such party is received by such party and will further, if requested by such party, use reasonable efforts to give such assistance as such party may reasonably request to assist such party in discharging its obligations in respect of such Taxes, including by (a) making filings and submissions on such basis and such terms as such party may reasonably request, (b) as soon as possible making available to such party notices received from any Authority, and (c) subject to the receipt of funds from such party, by making payment of such funds on behalf of such party to the relevant Authority in settlement of such Taxes. For the avoidance of doubt, no additional amount will be payable by the Company (or the Single Largest Group of Shareholders, as the case may be) to any person under this Clause with respect to any Taxes imposed on any person in respect of its net income received in connection with this Agreement by a taxing jurisdiction where such person is incorporated or is a resident for tax purposes.

**19.** **No Fiduciary Relationship** 

Each of the Warrantors acknowledges and agrees that the International Underwriters, in their roles as such, are acting solely as underwriters in connection with the purchase and sale of the Shares; the Overall Coordinators and the Sponsor-OCs, in their role as such, are acting solely as the Overall Coordinators and the Sponsor-OCs of the Global Offering; the Joint Global Coordinators, in their role as such, are acting solely as the Joint Global Coordinators of the Global Offering, the Joint Bookrunners, in their role as such, are acting solely as the Joint Bookrunners of the Global Offering; and the Joint Lead Managers, in their role as such, are acting solely as the Joint Lead Managers of the Global Offering; the Joint Sponsors, in their role as such, are acting solely as sponsors in connection with the listing of the Shares on the Stock Exchange; the CMIs, in their role as such, are acting solely as the capital market intermediaries of the Global Offering.

Each of the Warrantors further acknowledges that the International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the CMIs are acting pursuant to a contractual relationship with the Warrantors entered into on an arm's length basis, and in no event do the parties intend that the International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the CMIs, or their respective directors, officers, employees and Affiliates, as applicable, act or be responsible as a fiduciary or adviser to any member of the Group, the Warrantors, their respective directors, management, shareholders or creditors or any other person in connection with any activity that the International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers or the CMIs, as applicable, may undertake or have undertaken in furtherance of the Global Offering or the purchase and sale of the Company's securities or the listing of the Shares on the Stock Exchange, either before or after the date hereof.

The International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the CMIs hereby expressly disclaim any fiduciary or advisory or similar obligations to any member of the Group or the Warrantors, either in connection with the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Shares on the Stock Exchange or any process or matters leading up to such transactions, and each of the Warrantors hereby confirms its/his/her understanding and agreement to that effect. The Warrantors, on the one hand, and the International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers or the CMIs, as applicable, on the other hand, agree that they are each responsible for making their own independent judgments with respect to any such transactions and that any opinions or views expressed by the International Underwriters, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers or the CMIs, as applicable, to the Warrantors regarding such transactions, including, but not limited to, any opinions or views with respect to the price or market for the Shares, do not constitute advice or recommendations to the Warrantors.

The Warrantors, on the one hand, and the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Joint Sponsors, the Sponsor-OCs, the CMIs and their respective directors, officers, employees and Affiliates, as applicable, on the other hand, agree that the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Joint Sponsors, the Sponsor-OCs, the CMIs and their respective directors, officers, employees and Affiliates, as applicable, in their respective roles as such and with respect to transactions carried out at the request of and for the Warrantors pursuant to their respective appointments as such, are acting solely as principal and not the agent of any member of the Group or the Warrantors (except and solely, with respect to the International Underwriters, for the limited purposes of procuring purchasers for the International Offer Shares set forth in Section 1(a) hereof, and, with respect to the Settlement Agent, for the limited purposes of making payment on behalf of the Company of the Trading Fee and the Transaction Levy as set forth in Section 2(e) hereof), nor the adviser of any member of the Group or the Warrantors, and none of the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs, or the Joint Sponsors has assumed, and will assume, any fiduciary or advisory or similar responsibility in favor of any member of the Group or the Warrantors with respect to the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Shares on the Stock Exchange or any process or matters leading up to such transactions (irrespective of whether any of the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs, or the Joint Sponsors has advised or is currently advising the Warrantors on other matters).

Each of the Warrantors further acknowledges and agrees that the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Joint Sponsors, the Sponsor-OCs, and their respective directors, officers, employees and Affiliates are not advising the Warrantors, their respective Affiliates, directors, officers, employees, management or shareholders or any other person as to any legal, tax, investment, accounting or regulatory matters (except for, with respect to the Joint Sponsors, any advice to the Company on matters in relation to the listing application as prescribed by and solely to the extent as required under the Listing Rules in the capacity of the Joint Sponsors in connection with the proposed listing of the Company) in any jurisdiction. Each of the Warrantors shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated by this Agreement, and none of the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs, and the Joint Sponsors and their respective directors, officers, employees and Affiliates shall have any responsibility or liability to the Warrantors with respect thereto. Any review by the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs and the Joint Sponsors of the Company, the transactions contemplated by this Agreement or other matters relating thereto shall be performed solely for the benefit of the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs, and the Joint Sponsors and shall be not be on behalf of the Warrantors.

Each of the Warrantors further acknowledges that the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Joint Sponsors, the Sponsor-OCs, and their respective directors, officers, employees and Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Warrantors.

Each of the Warrantors hereby waives and releases, to the fullest extent permitted by law, any claims that the Warrantors may have against the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Joint Sponsors, the Sponsor-OCs and their respective directors, officers, employees and Affiliates with respect to any breach or alleged breach of any fiduciary, advisory or similar duty to the Warrantors in connection with the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Shares on the Stock Exchange or any process or matters leading up to such transactions.

Notwithstanding anything in this Agreement, none of the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs, the Sponsor-OCs and the Joint Sponsors or their respective directors, officers, employees and Affiliates and any other Indemnified Party shall have any liability whatsoever to the Warrantors or any other person in respect of any alleged insufficiency of the Offer Price or any dealing price of the Offer Shares (it being acknowledged by the parties that the Warrantors are solely responsible in this regard).

**20.** **Time of the Essence** 

Time shall be of the essence of this Agreement.

**21.** **Counterparts** 

This Agreement may be signed by the parties hereto in one or more counterparts which together shall constitute one and the same agreement among the parties hereto. Delivery of an executed counterpart signature page of this Agreement by e-mail (in PDF format) or facsimile shall be as effective as delivery of a manually executed counterpart of this Agreement. This Agreement may be executed by electronic signature.

**22.** **Entire Agreement And Variation** 

This Agreement, and (in the case of the Joint Sponsors) also together with Sponsor and Sponsor-OC Mandates, and (in the case of the Overall Coordinator other than the Joint Sponsors) also together with its OC Engagement Letter, and (in the case of the CMIs other than the Joint Sponsors and the Overall Coordinators) also together with their respective CMI Engagement Letters, constitutes the entire agreement between the Warrantors, the Joint Sponsors, the Overall Coordinators, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters relating to the underwriting of the International Offering and supersedes all previous and extinguishes any prior drafts, agreements, undertakings, understanding, representations, warranties and arrangements of any nature whatsoever, whether or not in writing, relating to such matters as have been regulated by the provisions of this Agreement, which shall cease to have any further force or effect and no party hereto has entered into this Agreement in reliance upon any representation, warranty, agreement or undertaking which is not set out or referred to in this Agreement.

No variation of this Agreement shall be valid unless it is in writing and signed by or on behalf of each of the parties hereto. The expression "variation" shall include any variation, supplement, deletion or replacement however effected.

**23.** **Parties at Interest Successors and Assigns** 

This Agreement herein set forth has been and is made solely for the benefit of the Overall Coordinators, the Joint Sponsors, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the International Underwriters, the CMIs, the Company, the Single Largest Group of Shareholders, and, to the extent provided in Section 12 hereof, the controlling persons, partners, directors, officers, members, employees, associates, agents and Affiliates referred to in such section of, and each person who controls any Overall Coordinator, Joint Sponsor, Sponsor-OCs, Joint Global Coordinator, Joint Bookrunner, International Underwriter or the CMI or the Company, and their respective successors, assigns, heirs, personal representatives, executors and administrators. No other person, partnership, association or corporation (including a purchaser, as such purchaser, from any of the International Underwriters) shall acquire or have any right under or by virtue of this Agreement. No subsequent purchaser of Offer Shares from any International Underwriter shall be deemed to be a successor by reason merely of such purchase. No party hereto shall assign or transfer all or any part of any benefit of, or interest or right in, this Agreement, or any benefit, interest, right or obligation arising under this Agreement without the consent of the other parties hereto, *provided that* the International Underwriters, the Overall Coordinators, the Joint Global Coordinators, Joint Bookrunners, the Joint Lead Managers, the CMIs, the Joint Sponsors and the Sponsor-OCs, may at any time assign to any of their respective Affiliates, any person who has the benefit of the indemnities in Section 12 and any of their respective successor entities the benefits of and interests and rights in or arising under this Agreement. Obligations under this Agreement shall not be assignable.

**24.** **Recognition of the U.S. Special Resolution Regimes** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event that any Joint Sponsors,
 Overall-Coordinator or International Underwriter that is a Covered Entity becomes subject
 to a proceeding under a U.S. Special Resolution Regime, the transfer from such Joint Sponsors,
 Overall-Coordinator or International Underwriter of this Agreement, and any interest and
 obligation in or under this Agreement, will be effective to the same extent as the transfer
 would be effective under the U.S. Special Resolution Regime if this Agreement, and any such
 interest and obligation, were governed by the laws of the United States or a state of the
 United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that any Joint Sponsors,
 Overall-Coordinator or International Underwriter that is a Covered Entity or a BHC Act Affiliate
 of such Joint Sponsors, Overall-Coordinator or International Underwriter becomes subject
 to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement
 that may be exercised against such Joint Sponsors, Overall-Coordinator or International Underwriter
 are permitted to be exercised to no greater extent than such Default Rights could be exercised
 under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the
 United States or a state of the United States.

In this Section 25:

"**BHC Act Affiliate**" has the meaning assigned to the term "affiliate" in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k).

"**Covered Entity**" means any of the following: (i) a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

"**Default Right**" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"**U.S. Special Resolution Regime**" means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.

If the foregoing correctly sets forth the understanding between the Company, the Single Largest Group of Shareholders, and the Overall Coordinators, the Joint Sponsors, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the CMIs and International Underwriters, please sign in the space provided below for that purpose, whereupon this Agreement and your acceptance shall become a binding agreement between the Company, the Single Largest Group of Shareholders, and the Overall Coordinators, the Joint Sponsors, the Sponsor-OCs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the International Underwriters, severally.

[***Signature pages to follow***]

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| |
|:---|
| Very truly yours, |
| For and on behalf of |
| **WERIDE INC.** |

---

By:   <br> Name: <br> Title:

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| |
|:---|
| By: |
| Name: **Xu Han (韓旭)** |

---

---

| |
|:---|
| For and on behalf of |
| **Tonyhan Limited** |

---

By:   <br> Name: <br> Title:

---

| |
|:---|
| For and on behalf of |
| **Xu Han Limited** |

---

By: <br> Name: <br> Title:

Very truly yours,

By: **CHINA INTERNATIONAL CAPITAL CORPORATION**

**HONG KONG SECURITIES LIMITED**

By:   <br> Name: <br> Title:

Very truly yours,

By: **MORGAN STANLEY ASIA LIMITED**

By:   <br> Name: <br> Title:

Very truly yours,

By: **J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED**

By:   <br> Name: <br> Title:

Very truly yours,

By: **CHINA INTERNATIONAL CAPITAL CORPORATION**

**HONG KONG SECURITIES LIMITED**

By:   <br> Name: <br> Title:

(acting as attorney-in-fact for each of the other International Underwriters as defined in the International Underwriting Agreement)

Very truly yours,

By: **MORGAN STANLEY ASIA LIMITED**

By:   <br> Name: <br> Title:

(acting as attorney-in-fact for each of the other International Underwriters as defined in the International Underwriting Agreement)

Very truly yours,

By: **J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED**

By:   <br> Name: <br> Title:

(acting as attorney-in-fact for each of the other International Underwriters as defined in the International Underwriting Agreement)

**Schedule I**

**Part A**

**The Underwriters and total underwriting commitment**

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| | | |
|:---|:---|:---|
|  | **Shares to be Sold** | **Shares to be Sold** |
| **Underwriters** | **Number** | **%** |
| China International Capital Corporation Hong Kong Securities Limited | [●] | [●] |
| Morgan Stanley Asia Limited | [●] | [●] |
| J.P. Morgan Securities (Asia Pacific) Limited | [●] | [●] |
| BOCI Asia Limited | [●] | [●] |
| Futu Securities International (Hong Kong) Limited | [●] | [●] |
| Daiwa Capital Markets Hong Kong Limited | [●] | [●] |
| ABCI Securities Company Limited/ABCI Capital Limited | [●] | [●] |
| ICBC International Securities Limited | [●] | [●] |
| **Total** | [●] | [●] |

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**Part B**

**COMMITMENT OF INTERNATIONAL UNDERWRITERS AND HONG KONG UNDERWRITERS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Firm Shares to be Sold** | **Firm Shares to be Sold** | **Hong Kong Offer Shares to be Sold** | **Hong Kong Offer Shares to be Sold** |
| **Underwriters** | **Number** | **%**  | **Number** | **%**  |
| China International Capital Corporation Hong Kong Securities Limited | [●] | [●] | [●] | [●] |
| Morgan Stanley Asia Limited | [●] | [●] | [●] | [●] |
| J.P. Morgan Securities (Asia Pacific) Limited | [●] | [●] | [●] | [●] |
| BOCI Asia Limited | [●] | [●] | [●] | [●] |
| Futu Securities International (Hong Kong) Limited | [●] | [●] | [●] | [●] |
| Daiwa Capital Markets Hong Kong Limited | [●] | [●] | [●] | [●] |
| ABCI Securities Company Limited/ABCI Capital Limited | [●] | [●] | [●] | [●] |
| ICBC International Securities Limited | [●] | [●] | [●] | [●] |
| **Total** | [●] | [●] | [●] | [●] |

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**PART C**

**ALLOCATION OF BROKERAGE AMONG INTERNATIONAL UNDERWRITERS FOR INTERNATIONAL OFFER SHARES**

---

| | |
|:---|:---|
| **International Underwriters** | **Percentage of <br> Brokerage** |
| China International Capital Corporation Hong Kong Securities Limited | [●] |
| Morgan Stanley Asia Limited | [●] |
| J.P. Morgan Securities (Asia Pacific) Limited | [●] |
| BOCI Asia Limited | [●] |
| Futu Securities International (Hong Kong) Limited | [●] |
| Daiwa Capital Markets Hong Kong Limited | [●] |
| **Total** | [●] |

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**Schedule II**

**Time of Sale Prospectus**

1. Base Prospectus dated November 3, 3025

2. Preliminary Prospectus dated November 3, 3025

3. Issuer free writing prospectus filed by the Company under Rule 433(d) of
 the Securities Act: N/A

4. Pricing information: International Offer Price is HK$[●]

**Schedule III**

**Part A: Representations and Warranties of the Warrantors**

Each of the Warrantors, jointly and severally, represents, warrants and undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the International Underwriters and each of them as follows:

---

| | |
|:---|:---|
| **1** | **Accuracy of Information** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 (A) None of the Hong Kong Public Offering Documents contains or
 will contain any untrue statement of a material fact or omits or will omit to state a material fact necessary
 in order to make the statements made therein, in light of the circumstances under which they were made,
 not misleading, (B) the Registration Statement, when it became effective, did not contain and, as
 amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit
 to state a material fact required to be stated therein or necessary to make the statements therein not
 misleading, (C) each of the Registration Statement and the Final Prospectus, at the time of filing
 thereof, complied, and, as amended or supplemented, if applicable, will comply in all material respects
 with the Securities Act and the applicable rules and regulations of the SEC thereunder, and no notice
 of objection of the SEC to the use of such registration statement or any post-effective amendment thereto
 pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company, (D) the
 Time of Sale Prospectus does not, and at the time of each sale of the Offer Shares in connection with
 the offering when the Final Prospectus is not yet available to prospective purchasers and at each Time
 of Delivery, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable,
 will not, contain any untrue statement of a material fact or omit to state a material fact necessary
 to make the statements therein, in the light of the circumstances under which they were made, not misleading,
 (E) each broadly available road show, if any, when considered together with the Time of Sale Prospectus,
 does not contain any untrue statement of a material fact or omit to state a material fact necessary to
 make the statements therein, in the light of the circumstances under which they were made, not misleading,
 (F) the Final Prospectus does not contain and, as amended or supplemented, if applicable, will not
 contain any untrue statement of a material fact or omit to state a material fact necessary to make the
 statements therein, in the light of the circumstances under which they were made, not misleading, except
 that the representations and warranties set forth in this paragraph do not apply to statements or omissions
 in the Registration Statement, the Time of Sale Prospectus or the Final Prospectus based upon information
 relating to any International Underwriter Information furnished to the Company in writing by such Underwriter
 through the Representatives expressly for use therein, it being understood and agreed that the only such
 information is that described in Section 13 of the International Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 Each preliminary prospectus filed as part of the Registration Statement
 as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the
 Securities Act, complied when so filed in all material respects with the Securities Act and the applicable
 rules and regulations of the SEC thereunder, and did not contain an untrue statement of a material
 fact or omit to state a material fact required to be stated therein or necessary to make the statements
 therein, in the light of the circumstances under which they were made, not misleading, and no order preventing
 or suspending the use of any preliminary prospectus has been issued by the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 No individual Supplemental Offering Material conflicts or will conflict
 with the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus, or the Final
 Prospectus, except that the representations and warranties set forth in this paragraph do not apply to
 statements or omissions made in reliance upon and in conformity with International Underwriter Information
 furnished to the Company in writing by such Underwriter through the Representatives expressly for use
 therein, it being understood and agreed that the only such information is that described in Section 13
 of the International Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 All statements, expressions of opinion or intention, forward-looking
 statements, forecasts and estimates (including the statements regarding the sufficiency of working capital,
 future plans, use of proceeds, estimated capital expenditures, projected cash flows and working capital,
 critical accounting policies and estimates, indebtedness, prospects, dividends, material contracts, litigation
 and regulatory compliance) in each of the Registration Statement, the Preliminary Prospectus, the Time
 of Sale Prospectus, the Final Prospectus, the Supplemental Offering Material (when considered together
 with the Time of Sale Prospectus) and/or the CSRC Filings (A) have been made after due, careful
 and proper consideration; (B) were and remain based on grounds and assumptions referred to in each
 of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus, the Final Prospectus
 and/or the CSRC Filings (to the extent there are any) or otherwise based on reasonable grounds and assumptions;
 and (C) represented and continue to represent reasonable and fair grounds, assumptions and expectations
 honestly held based on facts known to each of the Company, any Subsidiary, and/or any of their respective
 directors, supervisors (if any), officers, employees or agents; there are and will be no other facts
 known or which could, upon due and careful inquiry, have been known to each of the Warrantors or the
 Directors the omission of which would or may make any such expression, statement, forecast or estimate
 misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 The Hong Kong Public Offering Documents contains and will contain (A) all
 information and particulars required of a prospectus and/or listing document to comply with the Companies
 Ordinance, the Companies (Winding Up and Miscellaneous Provisions) Ordinance, the Listing Rules, all
 other applicable rules and regulations of the Stock Exchange and all applicable Laws; and (B) all
 such information as investors and their professional advisors would reasonably require, and reasonably
 expect to find therein, for the purpose of making an informed assessment of the activities, assets and
 liabilities, business, condition (financial or otherwise), financial position, profits and losses, management
 and prospects of the Company and the Subsidiaries, taken as a whole, and the rights attaching to the
 Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 As of the time of each sale of the Offer Shares in connection with the
 Global Offering when the Final Prospectus is not yet available to prospective purchasers, none of (A) the
 Time of Sale Prospectus, (B) any free writing prospectus, when considered together with the Time
 of Sale Prospectus, and (C) any individual Written Testing-the-Waters Communication, when considered
 together with the Time of Sale Prospectus, included, includes or will include an untrue statement of
 a material fact or omitted, omits or will omit to state a material fact necessary in order to make the
 statements therein, in the light of the circumstances under which they were made, not misleading, except
 that the representations and warranties set forth in this paragraph do not apply to statements or omissions
 in the Registration Statement, the Time of Sale Prospectus or the Final Prospectus based upon information
 relating to any International Underwriter Information furnished to the Company in writing by such Underwriter
 through the Representatives expressly for use therein, it being understood and agreed that the only such
 information furnished by any Underwriter consists of the Underwriters Information as defined in Section 13
 of the International Underwriting Agreement. Any individual Written Testing-the-Waters Communication
 does not conflict with the information contained in the Registration Statement or the Time of Sale Prospectus,
 and complies in all material respects with the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 All public notices, announcements and advertisements in connection with
 the Global Offering (including, without limitation, the Formal Notice) and all filings and submissions
 provided by or on behalf of the Warrantors, the Subsidiaries and/or any of their respective directors,
 supervisors (if any), officers, employees, affiliates (as defined in Rule 501(b) of Regulation
 D under the Securities Act, "**affiliates**") or agents, to the Stock Exchange, the SFC,
 the SEC, the CSRC and/or any relevant Authority have complied and will comply with all applicable Laws,
 contain no untrue statement of a material fact and do not omit to state a fact necessary in order to
 make the statements made therein, in light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 Without prejudice to any of the other Warranties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.1 the statements contained in the sections
 of each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus headed "Future Plans and Use of Proceeds" and "Use
 of Proceeds" including the breakdown of the estimated use of the net proceeds, represent
 the true and honest belief of the Warrantors and their respective directors (if applicable)
 arrived at after due, proper and careful consideration and inquiry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.2 the statements contained in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus relating to Company's consolidated indebtedness as at close of business
 on August 31, 2025 are complete, true and accurate in all material respects and not
 misleading and all material developments in relation to the Company's indebtedness
 have been disclosed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.3 the statements relating to working
 capital contained in each of the Registration Statement, the Preliminary Prospectus, the
 Time of Sale Prospectus and the Final Prospectus in the sections headed "Financial
 Information", "Management's Discussion and Analysis of Financial Condition
 and Results of Operations" and "Operating and Financial Review and Prospects"
 are complete, true and accurate in all material respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.4 the statements relating to the Group's
 liquidity and capital resources contained in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus in the sections headed "Financial
 Information", "Management's Discussion and Analysis of Financial Condition
 and Results of Operations" and "Operating and Financial Review and Prospects"
 are complete, true and accurate in all material respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.5 the statements relating to the interests
 of the Warrantors and their respective directors (if applicable) in the share capital of
 the Company and in contracts with the Company and the Subsidiaries contained in each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus are complete, true and accurate in all material respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.6 the statements contained in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 (A) in the sections headed "Information about this Prospectus and the Global Offering,"
 "Share Capital," "Description of Share Capital," "Description
 of American Depositary Shares," "Conversion Between ADSs and Class A Ordinary
 Shares" and "Appendix III—Summary of the Constitution of Our Company and
 Cayman Company Laws" insofar as they purport to describe the terms of the Offer Shares;
 (B) in the section headed "Regulatory Overview," "Appendix III—Summary
 of the Constitution of Our Company and Cayman Company Laws," "Regulations,"
 "Taxation," "Information on the Company" and "Additional Information"
 insofar as they purport to describe the provisions of Laws and regulations affecting or with
 respect to the business of the Company and the Subsidiaries; (C) in the section headed
 "Regulations," "Taxation," "Regulatory Overview," "Appendix
 III—Summary of the Constitution of Our Company and Cayman Company Laws," "Appendix
 IV—Statutory and General Information," "Information on the Company"
 and "Additional Information" insofar as they purport to describe the provisions
 of the Laws and documents referred to therein; and (D) in the sections headed "Summary,"
 "Appendix III—Summary of the Constitution of Our Company and Cayman Company Laws,"
 "Description of Share Capital" and "Additional Information" insofar
 as they purport to describe the material provisions of the Articles of Association, are true,
 complete and accurate in all material aspects and are not misleading, and constitute fair
 and accurate summaries of the relevant terms, Laws, regulations and documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.7 the statements relating to dividend
 policy contained in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus under the heading "Summary—Dividend and Dividend
 Policy", "Financial Information—Dividend and Dividend Policy", "Appendix
 III—Summary of the Constitution of Our Company and Cayman Company Laws", "Dividend
 Policy" "Management's Discussion and Analysis of Financial Condition and
 Results of Operations—Dividend and Dividend Policy" and "Financial Information—Dividend
 Policy" represent the true and honest belief of the Warrantors and their respective
 directors (if applicable) arrived at after due, careful and proper consideration and inquiry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.8 the statements contained in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus in the section headed "Risk Factors" and "Key Information"
 are complete, true and accurate in all material respects and not misleading and represent
 the true and honest belief of the Warrantors and their respective directors (if applicable)
 arrived at after due, proper and careful consideration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.9 the reply to each question set out
 in the Verification Notes given by or on behalf of the Warrantors or the Subsidiaries or
 their respective directors or employees (if applicable) and all statements and information
 provided by or on behalf of any of the Warrantors or the Subsidiaries and their respective
 directors employees (if applicable) in connection with any application or submission to or
 correspondence with the Stock Exchange, the SFC, the SEC, CSRC or other applicable Authority,
 was so given by a person having appropriate knowledge and duly authorised for such purposes
 and all such replies have been given in full and in good faith and were, and except as subsequently
 disclosed in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus, remain, complete, true and accurate in all material
 respects and not misleading; all such supporting documents prepared or supplied by or on
 behalf of any of the Warrantors or the Subsidiaries or if applicable, their respective directors
 (or any of them) or employees have been given or prepared in good faith and with due care
 and attention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 All statistical, market-related and operational data and information
 disclosed in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus as having come from the Warrantors has been derived from the records of the
 Company and the Subsidiaries using systems and procedures which incorporate adequate and effective safeguards
 to ensure that the information is complete, true and accurate in all material respects and fairly presents
 the information shown therein; the section entitled "Financial Information", "Management's
 Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative
 and Qualitative Disclosures about Market Risk" in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus accurately describes the Company's
 exposure to changes in interest rates, liquidity, credit and foreign exchange rates, risk exposure estimates,
 and sensitivity of the Company's assets and liabilities to changes in interest rates and foreign
 exchange rates as of the dates indicated therein, and the limitations of such sensitivity analysis in
 all material respects; statistical and market-related data and information disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus as having
 come from a source other than the Warrantors are based on or derived from sources which the Warrantors'
 reasonably believe to be reliable and accurate and represent the Warrantors' good faith estimates
 that are made on the basis of data derived from such sources, and such data accurately reflect the information
 or the sources from which they are derived; and the Company has obtained the written consent to the use
 of such data from such sources to the extent required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 All information supplied or disclosed in writing or orally from time
 to time (and any new or additional information that updates or amends such information) by or on behalf
 of the Warrantors, the Subsidiaries, or their respective directors, supervisors (if any), officers,
 employees, or agents to the Stock Exchange, the SFC, the SEC, the Joint Sponsors, the Sponsor-OCs, the
 Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead
 Managers and the International Underwriters, the Reporting Accountants, the Internal Control Consultant
 and legal and other professional advisers to the Company and the International Underwriters and the
 Hong Kong Underwriters for the purposes of the Global Offering or the listing of the Shares on the Stock
 Exchange (including the answers and documents contained or referred to in the Verification Notes, any
 new or additional information serving to update or amend the Verification Notes supplied or disclosed
 in writing prior to the date hereof, the information, answers and documents used as the basis of information
 contained in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus,
 the Final Prospectus, the Supplemental Offering Materials, the CSRC Filings, the Investor Presentation
 Materials, the notification form to be filed with the U.S. Department of the Treasury pursuant to 31
 C.F.R. § 850.404 or provided for or in the course of due diligence or the discharge by the Joint
 Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs or the
 International Underwriters of their obligations under all applicable Laws (including the Code of Conduct,
 the Listing Rules, the Securities Act, the U.S. Department of the Treasury's Outbound Investment
 Security Program regulations and the CSRC Rules), the discharge by the Joint Sponsors of their obligations
 as sponsors under the Code of Conduct, the Listing Rules and other applicable Laws, or for the
 discharge by the Overall Coordinators and the CMIs of their respective obligations as an Overall Coordinator
 and/or a CMI under the Code of Conduct, the Listing Rules and other applicable Laws, and the responses
 to queries and comments raised by the Stock Exchange, the SFC, the SEC, the CSRC, the U.S. Department
 of the Treasury or any other Authorities and the documents contained therein or referred thereto, and
 the submissions made by or on behalf of the Company and/or any of the Subsidiaries) was so disclosed
 or made available in full and in good faith and was when given and except as subsequently disclosed
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus, remains complete, true and accurate in all material respects and not misleading.

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| | |
|:---|:---|
| **2** | **CSRC Filings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Each of the CSRC Filings is and remains complete, true and accurate and
 not misleading in any respect, and does not omit any information which would make the statements made
 therein, in light of the circumstances under which they were made, misleading in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 All information disclosed or made available in writing or orally and
 used as the basis of information contained in the CSRC Filings by or on behalf of the Company and/or
 any of the Subsidiaries, and/or any of their respective directors, officers, employees, affiliates or
 agents, to the CSRC, the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global
 Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers, the International Underwriters,
 the Reporting Accountants, the Internal Control Consultant, the Industry Consultant and/or the legal
 and other professional advisers for the Company for the purpose of replying to queries and comments raised
 by the CSRC (including the information, answers and documents used as the basis of information contained
 or referred to in the CSRC Filings, or provided for or in the course of due diligence or the discharge
 by the Joint Sponsors, the Sponsor-OCs, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers and the International Underwriters of their obligations under all applicable
 Laws (including the CSRC Rules), or for the discharge by the Overall Coordinators of their respective
 obligations as an Overall Coordinator under the Code of Conduct, the Listing Rules and other applicable
 Laws) was so disclosed or made available in full and in good faith and was, when given and remains complete,
 true and accurate and not misleading in any respect, and there is no other information which has not
 been provided the result of which would make the information so disclosed or made available misleading
 in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 The Company has complied with all requirements and timely submitted all
 requisite filings in connection with the Global Offering (including, without limitation, the CSRC Filing
 Report) with the CSRC pursuant to the CSRC Filing Rules and all applicable Laws, and the Company
 has not received any notice of rejection, withdrawal or revocation from the CSRC in connection with such
 CSRC Filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Each of the CSRC Filings made by or on behalf of the Company is in compliance
 with the disclosure requirements pursuant to the CSRC Filing Rules.

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| | |
|:---|:---|
| **3** | **The Company and the Subsidiaries** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Company has and upon the Listing Date will have the authorized and
 issued capital as set forth in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus, and all of the issued shares of the Company (A) have been duly
 authorised, registered on the register of members and validly issued; (B) are fully paid and non-assessable;
 (C) were not issued in violation of any pre-emptive, resale right, right of first refusal or similar
 rights; (D) conform to the description thereof contained in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus; (E) have been
 issued in compliance with all applicable Laws; no person is, or at each of (i) the date of this
 Agreement, (ii) the Hong Kong Prospectus Date, (iii) the Price Determination Date and (iv) the
 Listing Date will be, entitled to any pre-emptive, resale right, right of first refusal or other similar
 rights to acquire the Offer Shares or any other securities of the Company; and there are no outstanding
 securities convertible into or exchangeable for, or warrants, rights or options to purchase from the
 Company, or obligations of the Company to issue, the Shares or any other class of shares of the Company
 except pursuant to this Agreement and the Hong Kong Underwriting Agreement. All of the equity interests
 or registered capital (as the case may be) of each Subsidiary have been duly authorized and validly issued,
 are fully paid in accordance with applicable laws and their respective articles of association and non-assessable
 and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities,
 or other claims of any third party; none of the outstanding share capital or equity interest in any Subsidiary
 was issued in violation of pre-emptive or similar rights of any security holder of such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Each of the Company and the Subsidiaries has been duly incorporated or
 established and is validly existing and in good standing under the Laws of its jurisdiction of incorporation
 or organization with legal right, power and authority (corporate and other) to own, use, lease and operate
 its properties and conduct its business in the manner presently conducted and as described in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 and is capable of suing and being sued in its own name.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Each of the Company and the Subsidiaries has been duly qualified to transact
 business and is in good standing under the Laws of each other jurisdiction in which it owns or leases
 properties or conducts any business that requires such qualification, except to the extent that the failure
 to be so qualified or be in good standing would not, individually or in the aggregate, result in a Material
 Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 The memorandum and articles of association or other constituent or constitutive
 documents or the business license (as applicable) of each of the Company and the Subsidiaries comply
 with the requirements of the Laws of the jurisdiction of its incorporation or organization and are in
 full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 Each of the Subsidiaries that is a PRC entity has passed each annual
 examination by the applicable PRC Authorities without being found to have any material deficiency or
 material default under applicable PRC Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 The Company has been duly registered as a non-Hong Kong company under
 Part 16 of the Companies Ordinance, and the memorandum and articles of association and other constituent
 or constitutive documents of the Company comply with the Laws of Hong Kong (including the Listing Rules).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 None of the Company or any Subsidiary has entered into any agreement
 for the establishment of any company or undertaking in which the Company or any Subsidiary will or agrees
 to own or control a majority interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 Save as disclosed in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus, no person, individually or together
 with its affiliates, beneficially owns (within the meaning of Rule 13(d)(3) of the Exchange
 Act), ultimately controls or otherwise has any interest (within the meaning of Part XV of the Securities
 and Futures Ordinance) in 5% or more of any class of the Company's share capital through trust,
 contract, arrangement, understanding (whether formal or informal) or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 None of the Company or any of the Subsidiaries is conducting or proposes
 to conduct any business, or has acquired or proposes to acquire or has incurred or proposes to incur
 any property or asset or liability or obligation (including, without limitation, contingent liability
 or obligation), which is material to the Company or such Subsidiary, as the case may be, but which is
 not directly or indirectly related to the business of the Company and the Subsidiaries, taken as a whole,
 as described in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 Except as described in the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus, each of the Company and its Subsidiaries that
 was incorporated outside of PRC has complied, and has taken, or in the process of taking, all reasonable
 steps to ensure compliance by each of the Company's shareholders, option holders, directors and
 officers, employees that to the best knowledge of the Warrantors after due inquiry, is, or is directly
 or indirectly owned or controlled by, a PRC resident or PRC citizen with any applicable rules and
 regulations of the relevant PRC government agencies (including but not limited to the Ministry of Commerce,
 the National Development and Reform Commission, the CSRC and the State Administration of Foreign Exchange
 (the "**SAFE** ")) relating to overseas investment by PRC residents and citizens or the
 repatriation of the proceeds from overseas offering and listing by offshore special purpose vehicles
 controlled directly or indirectly by PRC companies and individuals, such as the Company (the "**PRC Overseas Investment and Listing Regulations** "), including without limitation, requesting each
 of its shareholders, option holders, director, officer and employee that, to the best knowledge of the
 Warrantors after due inquiry, is, or is directly or indirectly owned or controlled by, a PRC resident
 or PRC citizen to complete any registration and other procedures required under applicable PRC Overseas
 Investment and Listing Regulations (including any applicable rules and regulations of the SAFE).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 The Warrantors are aware of and has been advised as to, the content
 of the Rules on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors jointly promulgated
 by the Ministry of Commerce, the State Assets Supervision and Administration Commission, the State Tax
 Administration, the State Administration of Industry and Commerce, the CSRC and the State Administration
 of Foreign Exchange of the PRC on August 8, 2006, as amended on June 22, 2009 (together with
 any official clarification, guidance, interpretation or implementation rules related thereto, the
 "**M&A Rules** "), in particular the relevant provisions thereof which purport to
 require offshore special purpose vehicles, or SPVs, formed for listing purposes and controlled directly
 or indirectly by PRC companies or individuals, to obtain the approval of the CSRC prior to the listing
 and trading of their securities on an overseas stock exchange; the Company has received legal advice
 specifically with respect to the M&A Rules from its PRC counsel and the Company understands
 such legal advice; and the Company has fully communicated such legal advice from its PRC counsel to
 each of its directors that signed the Registration Statement and each director has confirmed that he
 or she understands such legal advice; the Company and each director of the Company that signed the Registration
 Statement understand the potential personal liability to which each director of the Company that signed
 the Registration Statement and the executive officers of the Company may be subject in the event that
 the offering and sales of the Offer Shares as contemplated in this Agreement and the Hong Kong Underwriting
 Agreement or the listing and trading of the Offer Shares on the Stock Exchange and the NASDAQ Global
 Select Market were deemed not to be in compliance with the M&A Rules. The issuance and sale of the
 Offer Shares, the listing and trading of the Offer Shares on the Stock Exchange and the NASDAQ Global
 Select Market and the consummation of the transactions contemplated by this Agreement and the Hong Kong
 Underwriting Agreement (i) are not and will not be as of the date hereof or as of each Time of
 Delivery adversely affected by the M&A Rules and (ii) do not require the prior approval
 of the CSRC under the M&A Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 The Company is in compliance with Chapter 8A of the Listing Rules in
 connection with weighted voting rights. The statements relating to the Company's weighted voting
 rights structure contained in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus in the section headed "Summary", "Risk Factors",
 "Waivers and Exemption", "History, Development and Corporate Structure", "Relationship
 with our Single Largest Group of Shareholders" "Share Capital", "Description
 of Share Capital" and "Additional Information" are complete, true and accurate in
 all material respects and not misleading.

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| | |
|:---|:---|
| **4** | **Offer Shares** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The Offer Shares have been duly and validly authorised and, when issued
 and delivered against payment therefor as provided in this Agreement or the Hong Kong Underwriting Agreement,
 as applicable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 will be duly and validly issued and
 fully paid and non-assessable and free and clear of all Encumbrances or adverse claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 will have attached to them the rights
 and benefits specified in the Company's Articles of Association as described in each
 of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and
 the Final Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3 will rank *pari passu* in all
 respects with the existing issued Shares, including the right to rank in full for all distributions
 declared, paid or made by the Company after the time of their allotment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4 will be free of any restriction upon
 the holding, voting or transfer thereof under the applicable Laws or the memorandum and articles
 of association or other constituent or constitutive documents of the Company or any agreement
 or other instrument to which the Company is a party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5 will be freely transferable by the
 Company to or for the account of the Hong Kong Underwriters (or the applicants under the
 Hong Kong Public Offering) and the International Underwriters (or purchasers procured by
 the International Underwriters) and their subsequent purchasers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 No holder of Offer Shares after the completion of the Global Offering
 is or will be subject to any personal liability in respect of the Company's liabilities or obligations
 by virtue only of its holding of any such Offer Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 The Offer Shares conform to the descriptions thereof contained in each
 of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus, including the descriptions in the sections headed "Information about this Prospectus
 and the Global Offering," "Capitalization," "Share Capital," "Description
 of Share Capital," "Description of American Depositary Shares," "Conversion Between
 ADSs and Class A Ordinary Shares" and "Appendix III—Summary of the Constitution
 of Our Company and Cayman Company Laws."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The certificates for the Offer Shares are in proper form to be legal
 and valid under the Laws of the Cayman Islands, PRC, Hong Kong and the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Except as set forth in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus, there are no restrictions on subsequent
 transfers of the Offer Shares under the Laws of the Cayman Islands, the PRC, Hong Kong or the United
 States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Except as the over-allotment option set forth in the International Underwriting
 Agreement, no person has the right, contractual or otherwise, to cause the Company to issue or sell to
 it any Offer Shares or any other share capital of or other equity interests in the Company.

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| | |
|:---|:---|
| **5** | **The Underwriting Agreements and the Operative Documents** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Each of this Agreement, the Hong Kong Underwriting Agreement, the Hong
 Kong Public Offering Documents, the Registration Statement, the Operative Documents and any other documents
 required to be executed by any of the Warrantors pursuant to the provision of this Agreement, the Hong
 Kong Underwriting Agreement or the Operative Documents has been, or will be, duly and validly authorised,
 executed, and delivered by each of the Warrantors and, when validly authorised, executed and delivered
 by the other parties thereto, constitutes or will constitute a legal, valid and binding agreement of
 the respective Warrantor, enforceable in accordance with its terms, subject, as to enforceability, to
 bankruptcy, insolvency, moratorium and similar laws of general applicability relating to or affecting
 the creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 The statements set forth in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus headed "Structure of the Global
 Offering" and "Underwriting," insofar as they purport to describe the provisions of
 this Agreement and the Hong Kong Underwriting Agreement are complete, true and accurate in all material
 respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Each of this Agreement, the Hong Kong Underwriting Agreement, and the
 Operative Documents is in proper form under the laws of the Cayman Islands for the enforcement thereof
 against the Company; and to ensure the legality, validity, enforceability or admissibility into evidence
 in the Cayman Islands of this Agreement, the Hong Kong Underwriting Agreement, and the Operative Documents,
 it is not necessary that any such documents be submitted into, filed or recorded with any court or other
 authority in the Cayman Islands or that any stamp or similar Tax, imposition or charge in the Cayman
 Islands be paid on or in respect of any such document or any other documents to be furnished hereunder,
 except for nominal stamp duty if the documents are executed in or brought into the Cayman Islands. The
 indemnity provisions set forth in Section 9 of the Hong Kong Underwriting Agreement, and the indemnity
 and contribution provisions set forth in Section 12 of the International Underwriting Agreement
 do not contravene the laws or public policy of the Cayman Island and the PRC.

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| | |
|:---|:---|
| **6** | **No Conflict, Compliance and Approvals** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 None of the Company or any Subsidiary is in breach or violation of or
 in default under (nor has any event occurred which, with notice or lapse of time or fulfilment of any
 condition or compliance with any formality or all of the foregoing, would result in a breach or violation
 of, constitute a default under or give the holder of any indebtedness (or a person acting on such holder's
 behalf) the right to require the repurchase, redemption or repayment of all or part of such indebtedness
 under) (A) its memorandum and articles of association or other constituent or constitutive documents
 and its business license (as applicable); (B) any indenture, mortgage, deed of trust, loan or credit
 agreement or other evidence of indebtedness, or any license, authorization, lease, contract or other
 agreement or instrument to which it is a party or by which it or any of its properties or assets may
 be bound or affected; or (C) any Laws applicable to it or any of its properties or assets, except
 in each case of clauses (B) and (C) as would not individually or in the aggregate result in
 a Material Adverse Effect, and have not received any notice of any actual or, to the best of the Company's
 knowledge, potential liability under or pursuant to any violation of applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 The execution, delivery and performance of this Agreement, the Hong Kong
 Underwriting Agreement and the Operative Documents, the issuance and sale of the Offer Shares, the consummation
 of the transactions herein or therein contemplated and the fulfilment of the terms hereof or thereof
 do not and will not (A) conflict with, or result in a breach or violation of, any of the terms or
 provisions of, or constitute a default under (or constitute any event which, with notice or lapse of
 time or fulfilment of any condition or compliance with any formality or all of the foregoing, would result
 in a breach or violation of, constitute a default under or give the holder of any indebtedness (or a
 person acting on such holder's behalf) the right to require the repurchase, redemption or repayment
 of all or part of such indebtedness under), any indenture, contract, lease, mortgage, deed of trust,
 note agreement, loan agreement or other agreement, obligation, condition, covenant or instrument to which
 any of the Warrantors or any Subsidiary is a party, by which any of the Warrantors or any Subsidiary
 is bound or to which any of the property or assets of any of the Warrantors or any Subsidiary is subject;
 (B) violate any provision of the memorandum and articles of association or other constituent or
 constitutive documents or the business license (as applicable) of any of the Warrantors or any Subsidiary;
 (C) violate any applicable Law; or (D) result in the imposition of any Encumbrance upon any
 property or assets of the Company or any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 Except for the requisite registration of
 the Hong Kong Prospectus with the Registrar of Companies in Hong Kong and the final approval
 from the Stock Exchange for the listing of and permission to deal in the Shares on the Main
 Board, all licenses, permits, permissions, authorizations, consents, approvals, certificates,
 clearances, qualifications, franchises, orders and other concessions of and from, and all
 registrations, declarations, notifications and filings of or with, any Authority having jurisdiction
 over any of the Warrantors or the Subsidiaries, or any of their respective properties (each
 a "**Governmental Authorization**") required under any applicable Law in connection
 with (A) the Global Offering; (B) the issuance and sale of the Offer Shares; (C) the
 execution and delivery of this Agreement, the Hong Kong Underwriting Agreement, the Operative
 Documents and each of the agreements relating to the Global Offering; (D) the performance
 by the Company of its obligations hereunder and the consummation of the transactions contemplated
 by this Agreement, the Hong Kong Underwriting Agreement, the Operative Documents and each
 of the agreements relating to the Global Offering to which any of the Warrantors is a party;
 (E) the deposit of the Offer Shares with Hong Kong Securities Clearing Company Limited;
 and (F) the issuance, publication, distribution or making available of each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 and for the Company and the Subsidiaries to carry on their business and operations as described
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus, have been obtained or made and are in full force and effect (including
 (i) under applicable blue sky laws in any jurisdiction in which the Offer Shares are
 offered and sold and (ii) under the rules and regulations of the FINRA), and there
 is no reason to believe that any such Governmental Authorizations may be revoked, suspended
 or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 Approval in principle has been obtained from
 the listing committee of the Stock Exchange for the listing of, and permission to deal in,
 the Shares on the Main Board of the Stock Exchange, and, to the best of the Warrantors'
 knowledge, there is no reason to believe that such approval may be revoked, suspended or
 modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 The Company has taken all necessary corporate
 and other actions to authorize, and has obtained all necessary approvals and authorizations
 (including approvals and authorizations from the shareholders of the Company and the Directors)
 in connection with, the Global Offering, the use and application of the proceeds from the
 Global Offering, the issue, publication, distribution or making available of each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus, the performance by the Company of its obligations hereunder and the consummation
 of the transactions contemplated by this Agreement, and such approvals and authorizations
 are in full force and effect, and there is no reason to believe that any such approvals and
 authorizations may be revoked, suspended or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Each of the Company and the Subsidiaries
 (A) is in compliance with all Laws described or referred to in the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus in the sections
 headed "Regulations", "Regulatory Overview" and "Information
 of the Company" ()"**Relevant Laws** "); (B) has received all Governmental
 Authorization required of them under Relevant Laws to own, lease, license and use its property
 and assets and conduct their respective businesses; and such Governmental Authorizations
 are valid and in full force and effect and contain no conditions precedent that have not
 been fulfilled or performed or other materially burdensome restrictions or conditions not
 described in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus; and (C) is in compliance with the provisions
 of all such Governmental Authorizations; none of the Company or any of the Subsidiaries has
 received any notice of revocation or modification of any such Governmental Authorization
 or has any reason to believe that any Authority is considering modifying, suspending or revoking
 any such Governmental Authorizations; and the Company and the Subsidiaries have not received
 notice of any actual or potential liability under or violation of any Relevant Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 (A) all Governmental Authorizations
 under any Laws applicable to, or from or with any Authority having jurisdiction over, any
 of the Company or its Subsidiaries or any of their properties or assets, or otherwise from
 or with any other persons, required in connection with the use and application of the proceeds
 from the Global Offering for the purposes as set forth in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus, have been
 obtained or made; and (B) the use and application of the proceeds from the Global Offering,
 as set forth in and contemplated by each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus, will not conflict with, or result in
 a breach or violation of, or constitute a default under (or constitute any event which, with
 notice or lapse of time or fulfilment of any condition or compliance with any formality or
 all of the foregoing, would result in a breach or violation of, constitute a default under
 or give the holder of any indebtedness (or a person acting on such holder's behalf)
 the right to require the repurchase, redemption or repayment of all or part of such indebtedness
 under) (i) its memorandum and articles of association or other constituent or constitutive
 documents or the business licence (as applicable), (ii) any indenture, mortgage, deed
 of trust, loan or credit agreement or other evidence of indebtedness, or any licence, authorization,
 lease, contract or other agreement or instrument to which the Company or any of the Subsidiaries
 is a party or by which it is bound or any of its properties or assets may be bound or affected,
 or (iii) any Laws applicable to the Company or any of the Subsidiaries or any of their
 properties or assets described in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus, or result in the creation or imposition
 of an Encumbrance upon any property or assets of the Company or any of the Subsidiaries,
 except in case of clause (ii) as would not individually or in the aggregate result in
 a Material Adverse Effect.

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| | |
|:---|:---|
| **7** | **Accounts and Other Financial Information** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The Reporting Accountants, whose accountants'
 report on certain consolidated financial statements of the Company is included in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus, are independent public accountants with respect to the Company under the
 Code of Ethics for Professional Accountants issued by the Hong Kong Institute of Certified
 Public Accountants and the rules and regulations thereunder, and the Securities Act
 and the applicable rules and regulations thereunder adopted by the SEC and the Public
 Company Accounting Oversight Board (United States).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 (A) The audited consolidated historical
 financial statements (and the notes thereto) of the Company and the Subsidiaries included
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus, give a true and fair view of the financial condition, results of
 operations, cash flows, comprehensive income and changes in shareholders' equity of
 the Company and its consolidated Subsidiaries as of the dates and for the periods indicated,
 and comply as to form in all material respects with the applicable accounting requirements
 of the Securities Act and have been prepared in conformity with the IFRS Accounting Standards
 ()"**IFRS**") and the accounting policies of the Company applied on a consistent
 basis throughout the periods involved; (B) [ *Reserved* ]; (C) the profits and
 losses shown on such audited consolidated historical financial statements and selected financial
 data and the trend of profits and losses thereby shown have not been affected by any unusual
 or exceptional item or by any other matter which has rendered such profits or losses unusually
 high or low; (D) the summary and selected financial data (including any financial ratios)
 included in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus are derived from the accounting records of the Company
 and the Subsidiaries, present accurately and fairly the information shown therein and have
 been compiled on a basis consistent with that of the audited consolidated financial statements
 included therein; (E) the pro forma financial information (and the notes thereto) included
 under "Appendix II— Unaudited Pro Forma Financial Information" (and all
 other pro forma financial statements, information or data, if any) included in each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus has been prepared in accordance with the applicable requirements of the Listing
 Rules and has been presented consistently with the relevant accounting principles adopted
 by the Company, the assumptions used in the preparation of pro forma net tangible assets
 and the notes thereto (and other pro forma financial statements, information and data, if
 any) are reasonable and are disclosed therein and there are no other assumptions or sensitivities
 which should reasonably be taken into account in the preparation of such information that
 are not so taken into account, the pro forma adjustments used therein are appropriate to
 give effect to the transactions or circumstances described therein, and the pro forma adjustments
 have been properly applied to the historical amounts in the compilation of the pro forma
 net tangible assets and the notes thereto (and other pro forma financial statements, information
 and data, if any); (F) the depreciation and amortization has been made at rates sufficient
 to spread the cost over their respective estimated useful lives to the Company; (G) there
 are no other financial statements (historical or pro forma), selected financial data (including
 any financial ratios) of the Company or the Subsidiaries that are required by any applicable
 Law or Listing Rules to be included in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus that are not included as
 required; (H) none of the Company or the Subsidiaries has any material liabilities or
 obligations, direct or contingent (including any litigation or off-balance sheet obligations)
 that are not described in any of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus; (I) all disclosures included in
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus regarding "non-IFRS financial measures" (as such term is defined
 by the rules and regulations of SEC) comply with Regulation G of the Exchange Act and
 Item 10 of Regulation S-K of the Securities Act, to the extent applicable; and (J) there
 is no arrangement, circumstance, event, condition or development that could result in a restatement
 of any financial information disclosed in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 The prospective information as set forth
 in the sections "Summary," "Prospectus Summary," "Prospectus
 Supplement Summary," "Business," "Financial Information," "Management's
 Discussion and Analysis of Financial Condition and Results of Operations" and "Operating
 and Financial Review and Prospects" of each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus and any forecasts and estimates,
 if any contained in the CSRC Filings (the "**Prospective Financial Information** ")
 has been prepared after due and proper consideration, and represents reasonable and fair
 expectations honestly held, by the Company on the basis of facts known to the Company and
 the bases and assumptions stated in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus, the Final Prospectus and the CSRC Filings, and in accordance
 with the Company's accounting policies described in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus consistently
 applied; (B) the bases and assumptions used in the preparation of the Prospective Financial
 Information (i) are those that the Company believes are significant in forecasting the
 financial performance of the Company and its Subsidiaries, and (ii) reflect, for each
 relevant period, a reasonable forecast or estimate, as applicable, by the Company of the
 events, contingencies and circumstances described therein; and (C) the Prospective Financial
 Information represents, for each relevant period, a reasonable forecast by the Company of
 the financial performance of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 The unaudited consolidated management accounts
 of the Company and its Subsidiaries as of August 31, 2025 and for the two months ended
 August 31, 2025 and other accounting records of the Company (A) have been properly
 written up and present fairly, and reflect in conformity with the accounting policies of
 the Company and IFRS, all the transactions entered into by the Company or any of its Subsidiaries
 or to which the Company or any of its Subsidiaries was a party during the two months ended
 August 31, 2025; (B) contain no inaccuracies or discrepancies of any kind; and
 (C) present fairly the consolidated financial position of the Company as of August 31,
 2025 and the consolidated results of operations of the Company for the two months ended August 31,
 2025; and there has been no decrease in the class A ordinary shares and class B ordinary
 shares of the Company as of August 31, 2025 as compared to amounts shown in latest consolidated
 balance sheet of the Company as of June 30, 2025 included in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 (A) The statements in relation to the
 adequacy of the working capital of the Company as set forth in the section of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 entitled "Financial Information—Liquidity and Capital Resources, Working Capital
 Confirmation", "Management's Discussion and Analysis of Financial Condition
 and Results of Operations—Liquidity and Capital Resources, Working Capital Confirmation"
 and "Operating and Financial Review and Prospects" (the "**Working Capital Statement** "), in each case has been prepared after due and proper consideration,
 and represents reasonable and fair expectations honestly held, by the Company; (B) the
 bases and assumptions used in the preparation of the Working Capital Statement (i) are
 all those that the Company considers to be significant in making the Working Capital Statement
 for at least the 12-month period immediately following the Hong Kong Prospectus Date and
 (ii) reflect, for each relevant period, a fair and reasonable forecast by the Company
 of the events, contingencies and circumstances described therein; and (C) the Working
 Capital Statement represents a fair and reasonable forecast by the Company of the adequacy
 of the working capital of the Company for at least the 12-month period immediately following
 the Hong Kong Prospectus Date and that in the Company's view, taking into account the
 net proceeds to be received by the Company from the Global Offering, the financial resources
 available to the Company and the Subsidiaries, including the Company's consolidated
 cash and cash equivalents on hand, and available banking facilities, the working capital
 available to the Company and the Subsidiaries is and will be adequate for the Company and
 the Subsidiaries' present requirements and for at least the 12-month period immediately
 following the Hong Kong Prospectus Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 The statements set forth in the section entitled
 "Financial Information—Material Accounting Policies, Critical Accounting Estimates",
 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Critical
 Accounting Estimates" and "Operating and Financial Review and Prospects -Critical
 Accounting Estimates" in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus are complete, true and accurate in all
 material respects and not misleading and accurately and fully describes (A) accounting
 policies which the Company believes are the most important in the portrayal of the Company's
 and the Subsidiaries' financial condition and results of operations (the "**Critical Accounting Policies** "); (B) judgments and uncertainties affecting the application
 of the Critical Accounting Policies; and (C) an explanation of the likelihood that materially
 different amounts would be reported under different conditions or using different assumptions;
 and the Board and senior management of the Company have reviewed and agreed with the selection,
 application and disclosure of the Critical Accounting Policies and have consulted with the
 Reporting Accountants with regard to such selection, application and disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 The sections entitled "Financial Information",
 "Management's Discussion and Analysis of Financial Condition and Results of Operations"
 and "Operating and Financial Review and Prospects" in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 accurately and fairly describe (A) all trends, demands, commitments, events, uncertainties
 and risks, and the potential effects thereof, that the Company believes would materially
 affect liquidity and are reasonably likely to occur; (B) all material indebtedness (actual
 or contingent) of the Company or the Subsidiaries and its or their related parties; and (C) all
 off balance sheet transactions, arrangements, and obligations; and none of the Company or
 any Subsidiary has any material relationships with unconsolidated entities that are contractually
 limited to narrow activities that facilitate the transfer of or access to assets by the Company
 or any Subsidiary, such as structured finance entities and special purpose entities, that
 are reasonably likely to have a material effect on the liquidity of the Company and the Subsidiaries
 taken as a whole or the availability thereof or the requirements of the Company and the Subsidiaries
 taken as a whole for capital resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 The board memorandum of profit forecast for
 the year ending December 31, 2025 and working capital forecast for the period up to
 December 31, 2026 (the "**Profit Forecast Memorandum**") has been approved
 by the Directors and reviewed by the Reporting Accountants in connection with the Global
 Offering and prepared after due and careful inquiry and on the bases and assumptions stated
 in the Profit Forecast Memorandum which the Directors honestly believe to be fair and reasonable;
 and (A) all statements of fact in such memorandum are complete, true and accurate in
 all material respects and not misleading; (B) all forecast, estimate and expressions
 of opinion contained in the Profit Forecast Memorandum are fair and reasonable, are honestly
 held by the Directors and can be properly supported; and (C) the assumptions used in
 the preparation of the Profit Forecast Memorandum are those the Company believes are significant
 in making the profit forecast of the Group and reflect, for each relevant period, a fair
 and reasonable forecast by the Company of the events, contingencies and circumstances described
 therein; there are no other facts or assumptions which in any case ought reasonably to have
 been taken into account which have not been taken into account in the preparation of the
 Profit Forecast Memorandum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 The factual contents of the reports, letters
 or certificates of the Reporting Accountants are and will remain complete, true and accurate
 in all material respects (and where such information is subsequently amended, updated or
 replaced, such amended, updated or replaced information is complete, true and accurate in
 all material respects) and no fact or matter has been omitted therefrom which would make
 the contents of any of such reports, letters or certificates misleading, and the opinions
 attributed to the Directors in such reports or letters or certificates are held in good faith
 based upon facts within the best of their knowledge after due and careful inquiry, and none
 of the Company and the Directors disagree with any aspect of the reports, letters or certificates
 prepared by the Reporting Accountants; (B) no information was withheld from the Reporting
 Accountants for the purposes of their preparation of their report contained in each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus and the comfort letters to be issued by the Reporting Accountants in connection
 with the Global Offering and all information given to the Reporting Accountants for such
 purposes was given in good faith and there is no other information which has not been provided
 the result of which would make the information so received misleading; and (C) no information
 was withheld from the Reporting Accountants, the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers,
 the CMIs or the Underwriters for the purposes of their review of the forecasts of profit
 and earnings per share and the unaudited pro forma adjusted consolidated net tangible assets
 (and other unaudited pro forma financial statements, information and data, if any) of the
 Company included in any of the Registration Statement, the Preliminary Prospectus, the Time
 of Sale Prospectus and the Final Prospectus their review of the Group's cash flow and
 working capital projections, estimated capital expenditures and financial reporting procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10 All historical financial information contained
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus (other than in the report of the Reporting Accountants set out in
 Appendix I and II to the Hong Kong Prospectus) has been either correctly extracted from the
 report of the Reporting Accountants set out in Appendix I and Appendix II to the Hong Kong
 Prospectus or is derived from the relevant accounting records of the Company and the Subsidiaries
 which the Warrantors in good faith believes are reliable and accurate, and are a fair presentation
 of the data purported to be shown.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11 The valuation of Level 3 financial assets
 and liabilities as included in the Registration Statement, the Preliminary Prospectus, the
 Time of Sale Prospectus and the Final Prospectus has been prepared after due and careful
 inquiry by the Company and upon bases and assumptions which are fair and reasonable based
 on facts, events and circumstances known to the Company.

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| | |
|:---|:---|
| **8** | **Indebtedness and Material Obligations** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 (A) Except as disclosed in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 none of the Company or any of the Subsidiaries has any material outstanding liabilities,
 term loans, other borrowings or indebtedness in the nature of borrowings, including, without
 limitation, bank overdrafts and loans, debt securities or similar indebtedness, subordinated
 bonds and hire purchase commitments, or any mortgage or charge or any guarantee or other
 contingent liabilities; (B) no material outstanding indebtedness of the Company or any
 of the Subsidiaries has (or, with notice or lapse of time or fulfilment of any condition
 or compliance with any formality or all of the foregoing, will) become repayable before its
 stated maturity, nor has (or, with notice or lapse of time or fulfilment of any condition
 or compliance with any formality or all of the foregoing, will) any security in respect of
 such indebtedness become enforceable by reason of default of the Company or the relevant
 Subsidiaries; (C) no person to whom any material indebtedness of the Company or any
 of the Subsidiaries that is repayable on demand is owed has demanded or, to the best of the
 Warrantors' knowledge, threatened to demand repayment of, or to take steps to enforce
 any security for, the same; (D) no circumstance has arisen such that any person is now
 entitled to require payment of any material indebtedness of any of the Company or the Subsidiaries,
 or under any guarantee of any material liability of any of the Company or the Subsidiaries,
 by reason of default of any of the Company or the Subsidiaries or any other person or under
 any guarantee given by any of the Company or the Subsidiaries; (E) none of the Company
 or any of the Subsidiaries has stopped or suspended payments of its debts, has become unable
 to pay its debts or otherwise become insolvent; and (F) all guarantees of indebtedness
 of the Company and its Subsidiaries are in full force and effect, and there are no outstanding
 guarantees or contingent payment obligations of the Company or any of the Subsidiaries in
 respect of indebtedness of any party other than the Company or any of the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 (A) The amounts borrowed by each of
 the Company and the Subsidiaries do not exceed any limitation on its borrowing contained
 in its memorandum and articles of association or other constituent or constitutive documents
 or its business license (as applicable) or in any debenture or other deed or document binding
 upon it; (B) none of the Company or any of the Subsidiaries has factored any of its
 debts or engaged in financing of a type which would not be required to be shown or reflected
 in its audited consolidated financial statements; (C) with respect to each of the borrowing
 facilities of the Company or any of the Subsidiaries, (i) such borrowing facility has
 been duly authorized, executed and delivered, is legal, valid, binding and enforceable in
 accordance with its terms and is in full force and effect, (ii) all undrawn amounts
 under such borrowing facility is or will be capable of drawdown in accordance with the terms,
 and (iii) no event has occurred, and no circumstances exist, which could cause any undrawn
 amounts under such borrowing facility to be unavailable for drawing as required; and (D) no
 event has occurred, and to the best of the Company's knowledge, no circumstances exist,
 in relation to any investment grants, loan subsidies or financial assistance received by
 or pledged to the Company or any of the Subsidiaries from or by any Authority in consequence
 of which the Company or the relevant Subsidiary is or could be held liable to forfeit or
 repay in whole or in part any such grant or loan or financial assistance.

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| | |
|:---|:---|
| **9** | **Subsequent Events** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Subsequent to the date of the latest audited
 consolidated financial statements included in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus, none of the Company or
 any of the Subsidiaries has (A) entered into or assumed or otherwise agreed to be bound
 by any contract, transaction, commitment or agreement that is material to the Company and
 the Subsidiaries, taken as a whole, except as disclosed in the Registration Statement, the
 Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus; (B) incurred,
 assumed or acquired or otherwise agreed to become subject to any obligation or liability,
 direct or contingent (including, without limitation, any off-balance sheet obligations),
 that is material to the Company and the Subsidiaries, taken as a whole; (C) acquired,
 sold, transferred or disposed of, or agreed to acquire, sell, transfer or dispose of any
 business, asset, business unit, or technology that is material to the Company and the Subsidiaries,
 taken as a whole; (D) entered into merger, business consolidation, joint venture, strategic
 cooperation with any other entity or business that is material to the Company and the Subsidiaries,
 taken as a whole, except as disclosed in the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus; (E) cancelled, waived, released
 or discounted in whole or in part any debt or claim that is material to the Company and the
 Subsidiaries, taken as a whole; (F) made any sale or transfer of any material tangible
 or intangible asset, created any mortgage or pledge, or incurred any Encumbrance on any asset
 or any lease of property, plant or equipment that is material to the Company and the Subsidiaries,
 taken as a whole, other than such Encumbrances created in the ordinary course of business
 and tax liens with respect to taxes not yet due and statutory right of customers (if any)
 in inventory and other assets; or (G) entered into an agreement or a letter of intent
 or memorandum of understanding (or announced an intention to do so) relating to any matters
 identified in clauses (A) through (G) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Subsequent to the date of the latest audited
 consolidated financial statements included in each of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus, (A) none of the Company
 or any of the Subsidiaries has sustained any material loss or material interference with
 its business from fire, explosion, flood, earthquake, epidemic, pandemic, outbreak of infectious
 disease or other calamity, whether or not covered by insurance, or from any labor dispute
 or any action, order or decree of any Authority; (B) each of the Company and the Subsidiaries
 has carried on and will carry on business in the ordinary and usual course so as to maintain
 it as a going concern and in the same manner as previously carried on and since such date
 has not entered into any contract, transaction or commitment outside the ordinary course
 of business or of an unusual or onerous nature; (C) each of the Company and the Subsidiaries
 has continued to pay its creditors in the ordinary course of business and on arms' length
 terms; and (D) there has been no material changes in the relations of the business of
 each of the Company and the Subsidiaries with their respective customers, suppliers, licensors
 or lenders or the financial condition or the position, results of operations, prospects,
 assets or liabilities of said business or of the Company and the Subsidiaries as a whole
 as compared with the position, disclosed by the last audited accounts and there has been
 no damage, destruction or loss (whether or not covered by insurance) materially and adversely
 affecting the said business or the assets or properties of the Company and the Subsidiaries
 as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Subsequent to the respective dates as of
 which information is given in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus, there has not been (A) any changes
 or developments that, individually or in the aggregate, has or would result in a Material
 Adverse Effect; (B) any transaction, agreement or arrangement (including any letter
 of intent or memorandum of understanding) which is material to the Company and the Subsidiaries,
 taken as a whole; (C) any change in the share capital or other equity interests of any
 class or outstanding indebtedness of or in any of the Company or the Subsidiaries; or (D) any
 dividend or distribution of any kind declared, paid or made on the share capital or other
 equity interests of any class of any of the Company or the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 Subsequent to the respective dates as of
 which information is given in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus, there has been and will be no material
 change in the issued share capital or increase in short-term debt or long-term debt, inventories,
 trade receivables, total current liabilities or decrease in financial assets at FVTPL, time
 deposits, restricted cash, cash and cash equivalents or total current assets of the Group
 as of (i) the date of this Agreement, (ii) the Hong Kong Prospectus Date, (iii) the
 Price Determination Date or (iv) the Listing Date, as applicable, in each case as compared
 to amounts shown in the latest audited consolidated statements of financial position of the
 Company included in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus; and there has been and will be no decreases in total
 revenues during the period from the date of the latest audited consolidated statement of
 profit or loss of the Company to (i) the date of this Agreement, (ii) the date
 of the Final Prospectus (if different from the date hereof) or (iii) each Time of Delivery,
 as applicable, in each case as compared to the corresponding periods in the preceding financial
 year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Except as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 (A) none of the suppliers and customers of the Company or any of the Subsidiaries has
 owned any interest in the Company or any of its Subsidiaries; (B) none of the shareholders
 or directors of any of the Company or the Subsidiaries or any of their respective Associates,
 either alone or in conjunction with or on behalf of any other person, directly or indirectly
 interested in more than 5% of the Group's five largest suppliers and customers; (C) none
 of the Group's suppliers and customers are connected persons of the Group; (D) the
 Company and the Subsidiaries have not had any litigation, claims or disagreements with their
 suppliers and customers which would, or could reasonably be expected to, cause material interference
 with its business and operations; and (E) save as to the credit periods granted under
 the relevant business agreements during the ordinary course of business of the Company and
 the Subsidiaries, none of the Company or any of its Subsidiaries has provided any form of
 financial assistance to the their suppliers and customers.

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| | |
|:---|:---|
| **10** | **Assets** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 (A) Each of the Company and the Subsidiaries
 has valid title to all real property and assets that it purports to own, in each case free
 and clear of all Encumbrances and defects except such as do not materially affect the value
 of such property or asset and do not interfere with the use made and proposed to be made
 of such property or asset by the Company and its Subsidiaries; (B) each of the Company
 and the Subsidiaries has valid title to all personal assets it purports to own, in each case
 free and clear of all Encumbrances and defects, except such as would not, individually or
 in the aggregate, result in a Material Adverse Effect; (C) each lease to which the Company
 or any Subsidiary is a party has been duly executed and is legal, valid, binding and enforceable
 in accordance with its terms against the other parties thereto with such exceptions as are
 not material and do not interfere with the use made and proposed to be made of such lease
 by the Company and its Subsidiaries; (D) no material default (or event which with notice
 or lapse of time, or both, would constitute such a default) by the Company or any Subsidiary
 has occurred and is continuing or is likely to occur under any of such leases; (E) neither
 the Company nor any Subsidiary is aware of any action, suit, claim, demand, investigation,
 judgment, award or proceeding of any nature that has been asserted by any person which may
 be materially adverse to the rights or interests of the Company and/or the Subsidiaries under
 such lease, tenancy or license or may materially and adversely affect the rights of the Company
 and/or the Subsidiaries to the continued possession or use of such leased or licensed property
 or other asset; (F) the right of the Company and/or the Subsidiaries to possess or use
 such material leased or licensed property or other asset is not subject to any unusual or
 onerous terms or conditions; (G) the Company and the Subsidiaries do not own any real
 property and do not have any land-use rights or rights of way in respect of any real property;
 (H) the use of all properties leased by the Company and/or the Subsidiaries is in accordance
 with its permitted use under all applicable Laws and the use of any premises occupied by
 the Company and/or the Subsidiaries is in accordance with the terms provided for in the lease,
 tenancy, license, concession or agreement of whatsoever nature relating to such occupation;
 and (I) neither the Company nor any Subsidiary owns, operates, manages or has any other
 right or interest in any other material real property of any kind except as reflected in
 the audited consolidated financial statements of the Company included in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 and no other real properties or assets are necessary in order for the Company or the Subsidiaries
 to carry on the businesses of the Company or the Subsidiaries in the manner described in
 each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 (A) Each of the Company and the Subsidiaries
 owns free of Encumbrances, or has obtained (or can obtain on reasonable terms) valid licences
 for, or other rights to use, all patents, patent applications, research work and findings,
 inventions, copyrights, trade or service marks (both registered and unregistered), trade
 or service names, domain names, know-how (including, without limitation, trade secrets and
 other unpatented and/or unpatentable proprietary or confidential information, systems or
 processes), and other proprietary information, rights or processes (collectively, the "**Intellectual Property**") described in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus as being owned or licensed or used by
 them or that are necessary for the conduct of, or material to, their respective businesses
 as currently conducted or as proposed to be conducted; (B) each agreement pursuant to
 which the Company or any of the Subsidiaries has obtained licences for, or other rights to
 use, Intellectual Property is legal, valid, binding and enforceable in accordance with
 its terms, the Company and the Subsidiaries have complied with the terms of each such agreement,
 and no default (or event which, with notice or lapse of time or fulfilment of any condition
 or compliance with any formality or all of the foregoing, would constitute such a default)
 by the Company or any of the Subsidiaries has occurred and is continuing or is likely to
 occur under any such agreement, except which would not, individually or in the aggregate,
 result in a Material Adverse Effect; (C) there is no claim to the contrary or any challenge
 by any other person to the rights of the Warrantors or any of the Subsidiaries with respect
 to the Intellectual Property owned, applied or used by, or licensed to, the Company or any
 of the Subsidiaries, except which would not, individually or in the aggregate, result in
 a Material Adverse Effect; (D) none of the Warrantors or the Subsidiaries has infringed,
 misappropriated or otherwise violated, or is infringing, misappropriating or otherwise violating
 the Intellectual Property of a third party, and none of the Warrantors or the Subsidiaries
 has received notice or claim by a third party to the contrary; (E) there are no third
 parties who have been, or to the best of the Warrantors' knowledge after due and careful
 inquiry, will be able to establish, rights to any Intellectual Property owned, applied or
 used by, or licensed to, the Company or any of the Subsidiaries, except for, and to the extent
 of, the ownership rights of the owners of the Intellectual Property which are licensed to
 the Company and/or any of the Subsidiaries; (F) there is no infringement, misappropriation,
 violation or unauthorized use by third parties of any Intellectual Property owned, applied
 or used by, or licensed to, the Company or any of the Subsidiaries; (G) there is no
 pending, or to the best of the Warrantors' knowledge after due and careful inquiry,
 threatened action, suit, proceeding or claim by others challenging the rights of the Company
 or any of the Subsidiaries in or to any Intellectual Property owned, applied or used by,
 or licensed to, the Company or any of the Subsidiaries, and there are no facts which could
 form a reasonable basis for any such action, suit, proceeding or claim, except which would
 not, individually or in the aggregate, result in a Material Adverse Effect; (H) there
 is no pending, or to the best of the Warrantors' knowledge after due and careful inquiry,
 threatened action, suit, proceeding or claim by others challenging the validity, enforceability
 or scope of any Intellectual Property owned, applied or used by, or licensed to, the Company
 or any of the Subsidiaries and there are, to the best of the Warrantors' knowledge
 after due and careful inquiry, no facts which could form a reasonable basis for any such
 action, suit, proceeding or claim, except which would not, individually or in the aggregate,
 result in a Material Adverse Effect; (I) there is no pending, or to the best of the
 Warrantors' knowledge after due and careful inquiry, threatened action, suit, proceeding
 or claim by others that the Company or any Subsidiary infringes or otherwise violates, or
 would, upon the commercialization of any product or service described in any of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 if any, as under development, infringe or violate, any Intellectual Property of others, and
 there are, to the best of the Warrantors' knowledge after due and careful inquiry,
 no facts which could form a reasonable basis for any such action, suit, proceeding or claim;
 (J) there is no patent or patent application that contains claims that interfere with
 the issued or pending claims of any of the Intellectual Property owned, applied or used by,
 or licensed to, the Company or any of the Subsidiaries or that challenges the validity, enforceability
 or scope of any of the Intellectual Property owned, applied or used by, or licensed to, the
 Company or any of the Subsidiaries, except which would not, individually or in the aggregate,
 result in a Material Adverse Effect; (K) there is no prior art that may render any patent
 application within the Intellectual Property unpatentable that has not been disclosed to
 any Authority in the jurisdictions in which the Company or any of the Subsidiaries operates
 having jurisdiction over intellectual property matters; and (L) all employees or contractors
 engaged in the development of Intellectual Property on behalf of the Company or any Subsidiary
 of the Company have executed an invention assignment agreement whereby such employees or
 contractors presently assign all of their right, title and interest in and to such Intellectual
 Property to the Company or the applicable Subsidiary, and to the best of the Warrantors'
 knowledge, no such agreement has been breached or violated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 (A) The information technology assets
 and equipment, computers, computer systems, communications systems, networks, software, hardware,
 websites, applications and database (collectively "**Information Technology** ")
 owned, used, licensed by or to the Company and the Subsidiaries comprise all the information
 technology systems and related rights reasonably necessary to conduct, or material to, the
 operation of the business of the Company and the Subsidiaries; (B) the Information Technology
 are adequate for, and operate and perform as required in connection with, the operation of
 the business of the Company and the Subsidiaries, taken as a whole, as currently conducted;
 (C) all Information Technology which is reasonably necessary for the business of the
 Company and the Subsidiaries is either legally and beneficially owned by the Company or the
 Subsidiaries or lawfully used under valid licenses granted by the registered proprietor(s) or
 beneficial owner(s) thereof or may be obtained or licensed under reasonable commercial
 terms; (D) each agreement pursuant to which the Company or each Subsidiary has obtained
 licenses for, or other rights to use, the Information Technology is legal, valid, binding
 and enforceable in accordance with its terms; the Company and the Subsidiaries have complied
 with the terms of each such agreement in all material respects, and each such agreement is
 in full force and effect; and no material default (or event which, with notice or lapse of
 time or fulfilment of any condition or compliance with any formality or all of the foregoing,
 would constitute such a default) by the Company or any of the Subsidiaries has occurred and
 is continuing or is likely to occur under any such agreement; and none of the Company or
 any Subsidiary has given or received any notice to or from any party to terminate any such
 agreement; (E) all material records and systems (including but not limited to the Information
 Technology) and all material data and information of the Company and the Subsidiaries are
 maintained and operated by the Company and the Subsidiaries and are not wholly or partially
 dependent on any facilities not under the exclusive ownership or control of the Company and
 the Subsidiaries; (F) in the event that the persons providing maintenance or support
 services for the Company and the Subsidiaries with respect to the Information Technology
 cease or are unable to provide such services, the Company and the Subsidiaries have all the
 necessary rights and information to continue, in a reasonable manner, to maintain and support
 or have a third party maintain or support the Information Technology; (G) there are
 no material defects relating to the Information Technology; (H) each of the Company
 and the Subsidiaries has in place procedures to prevent unauthorized access and the introduction
 of viruses to the Information Technology and to enable the taking and storing of back-up
 copies of the software and data; (I) each of the Company and the Subsidiaries has in
 place adequate back-up policies and disaster recovery arrangements which enable its Information
 Technology and the data and information stored thereon to be replaced and substituted without
 material disruption to the business of the relevant Group Company; (J) the Company and
 each of its Subsidiaries have taken all technical and organizational measures necessary to
 protect the information technology systems and Personal and Confidential Data used in connection
 with the operation of the Company's and its Subsidiaries' businesses; without
 limiting the foregoing, the Company and its Subsidiaries have used reasonable efforts to
 establish and maintain, and have established, maintained, implemented and complied in all
 material respects with, reasonable information technology, information security, cyber security
 and data protection controls, policies and procedures that are designed to protect against
 and prevent breach, destruction, loss, unauthorized distribution, use, access, disablement,
 misappropriation or modification, or other compromise or misuse of or relating to any information
 technology system or Personal and Confidential Data used in connection with the operation
 of the Company's and its Subsidiaries' businesses ()"**Breach** ");
 there has been no such Breach that is material to the Company and its Subsidiaries taken
 as a whole, and the Company and its Subsidiaries have not been notified of and have no knowledge
 of any event or condition that would reasonably be expected to result in, any such material
 Breach; (K) the Company has not received any notification of or complaint regarding
 and is unaware of any other facts that, individually or in the aggregate, would reasonably
 indicate non-compliance with any Data Security Obligation in any material respects; and (L) there
 is no action, suit or proceeding (including, without limitation, governmental investigations
 or inquiries) by or before any Authority involving the Company or any of its Subsidiaries
 with respect to applicable data privacy and security laws pending or, to the best of the
 Company's knowledge, threatened alleging non-compliance with any Data Security Obligation,
 except those that would not, individually or in the aggregate, cause a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 There are no material bugs or viruses, logic
 bombs, or other contaminants (including without limitation, "worm" or "Trojan
 horses") in or failures or breakdowns of any material computer hardware or software
 or any other material Information Technology equipment used in connection with the business
 of the Company or any of the Subsidiaries which is necessary for the business of the Company
 or the relevant Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 The Group has implemented and maintained
 commercially reasonable controls, policies, procedures, and safeguards to maintain and protect
 their material confidential information and the integrity, continuous operation, redundancy
 and security of all Information Technology and data (including all personal, personally identifiable,
 household, sensitive, confidential or regulated data, or any such data that may constitute
 trade secrets and working secrets of any Authority or any other data that would otherwise
 be detrimental to national security or public interest pursuant to the applicable Laws (the
 "**Personal and Confidential Data** ")) used in connection with their businesses
 and/or the Global Offering, and there have been no breaches, violations, outages, leakages
 or unauthorized uses of or accesses to the same, except for those that have been remedied
 without material cost or liability or the duty to notify any other person. The Company and
 each of its Subsidiaries have complied and are presently in material compliance with all
 internal and external privacy policies, contractual obligations, applicable laws, statutes,
 rules and regulations, and the judgments, orders issued to the Company by any Authority,
 in each case, relating to the collection, use, transfer, import, export, storage, protection,
 disposal and disclosure by the Company or any of its Subsidiaries of personal, personally
 identifiable, household, sensitive, confidential or regulated data ()"**Data Security Obligations** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 (A) The Company and its Subsidiaries
 use and have used any and all software and other materials distributed under a "free,"
 "open source," or similar licensing model ()"**Open Source Software** ")
 in compliance with all license terms applicable to such Open Source Software; and (B) neither
 the Company nor any of its Subsidiaries uses or distributes or has used or distributed any
 Open Source Software in any manner that requires or has required (i) the Company or
 any of its Subsidiaries to permit reverse engineering of any software code or other technology
 owned by the Company or any of its Subsidiaries or (ii) any software code or other technology
 owned by the Company or any of its Subsidiaries to be (1) disclosed or distributed in
 source code form, (2) licensed for the purpose of making derivative works or (3) redistributed
 at no charge.

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| | |
|:---|:---|
| **11** | **Compliance with Employment and Labor Laws** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Except as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 none of the Company and the Subsidiaries has any material obligation to provide housing,
 provident fund, social insurance, severance, pension, retirement, death, social security
 or disability benefits or other actual or contingent employee benefits to any of its present
 or past employees or to any other person; all housing, provident fund, social insurance,
 severance, pension, retirement, death, social security or disability benefits or other actual
 or contingent employee benefits to any of the present or past employees of each of the Company
 and the Subsidiaries arising from their employment with the Company or such Subsidiary are
 fully provided for by way of an adequately funded pension scheme established for and on behalf
 of the Company or such Subsidiary that is or was the employer of such person or established
 by the Company or such Subsidiary in the name of the relevant present or past employees;
 there are no material amounts owing or promised to any present or former directors, employees
 or consultants of the Company or any Subsidiary other than remuneration accrued, due or for
 reimbursement of business expenses; no director or senior management or key employee of the
 Company or any Subsidiary has given or been given notice terminating their contracts of employment;
 there is no proposal to terminate the employment or consultancy of any director, senior management,
 key employee or consultant of the Company or any Subsidiary or to vary or amend their terms
 of employment or consultancy (whether to their detriment or benefit) except for those that
 would not, individually or in the aggregate, result in a Material Adverse Effect; none of
 the Company and the Subsidiaries has any material undischarged liability to pay to any Authority
 in any jurisdiction any Taxation, contribution or other impost arising in connection with
 the employment or engagement of directors, senior management, key employees or consultants;
 no liability has been incurred by the Company or any Subsidiary for breach of any director's,
 employee's or consultant's contract of service, contract for services or consultancy
 agreement, redundancy payments, compensation for wrongful, constructive, unreasonable or
 unfair dismissal, failure to comply with any order for the reinstatement or re-engagement
 of any director, employee or consultant, or the actual or proposed termination or suspension
 of employment or consultancy, or variation of any terms of employment or consultancy of any
 present or former employee, director or consultant of the Company or any Subsidiary; where
 the Company or any Subsidiary participates in, or has participated in, or is liable to contribute
 to any such scheme, the Company or such Subsidiary has complied with the requirements to
 make contributions to such schemes in accordance with the terms thereof; and neither the
 Company nor any Subsidiary has any financial obligation to any Authority or any social security
 fund or other fund maintained by any Authority in connection with the Global Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Except as would not have a Material Adverse
 Effect, all contracts of service, contracts for services and consultancy agreements in relation
 to the employment of the directors, consultants and employees of the Company and/or the Subsidiaries
 are on usual and normal terms which do not and will not in any way whatsoever impose any
 unusual or onerous obligation on the Company or the relevant Subsidiaries and the subsisting
 contracts of service, contracts for services and consultancy agreements to which the Company
 and/or the Subsidiaries is a party are legal, valid, binding and enforceable and are determinable
 at any time on reasonable notice without compensation (except for statutory compensation
 or as provided in the articles of association of the Company) and there are no claims pending
 or to the best of the Warrantors' knowledge, threatened or capable of arising against
 the Company or the Subsidiaries, brought by any director, senior manager, consultant, employee
 or third party, in respect of any accident or injury not fully covered by insurance; each
 of the Company and/or the Subsidiaries has, in relation to its respective directors, employees
 or consultants (and so far as relevant, to each of its respective former directors, employees
 or consultants), complied in all respects with all terms and conditions of such directors',
 employees' or consultants' (or former directors', employees' or consultants')
 contracts of services, employment or consultancy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Save as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 none of the Directors has a service contract with any of the Company or its Subsidiaries
 which is required to be disclosed in the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 No material labor dispute, work stoppage,
 slow down or other conflict with the employees of the Company or any Subsidiary exists, or,
 to the best of the Company's knowledge, is imminent, contemplated or threatened; and
 the Company is not aware of any existing, threatened or imminent labor disturbance by or
 dispute with the employees of any of its or any Subsidiary's principal suppliers, manufacturers,
 contractors or customers that could, individually or in the aggregate, have a Material Adverse
 Effect; and there has been no violation of any applicable labor and employment Laws by any
 of the Company or its Subsidiaries, or to the best of the Warrantors' knowledge after
 due and careful inquiry, by any of the principal suppliers or contractors of any of the Company
 or its Subsidiaries.

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| | |
|:---|:---|
| **12** | **Compliance with Environmental Laws** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 The Company and the Subsidiaries and their
 respective properties, assets, facilities and operations comply with, and each of the Company
 and the Subsidiaries holds, and are in compliance with, all Governmental Authorizations required
 under, Environmental Laws (as defined below) in all material respects; there are no past,
 present or reasonably anticipated future events, conditions, circumstances, activities, practices,
 actions, omissions or plans that could give rise to any material costs or liabilities to
 the Company or any Subsidiary under, or to interfere with or prevent compliance by the Company
 or any Subsidiary with, Environmental Laws; and none of the Company and the Subsidiaries
 (A) is the subject of any investigation; (B) has received any notice or claim;
 (C) is a party to or affected by any pending or threatened action, suit or proceeding;
 (D) is bound by any judgment, decree or order, or (E) has entered into any agreement,
 in each case relating to any alleged violation of any Environmental Law or any actual or
 alleged release or threatened release or clean-up at any location of any Hazardous Materials
 (as defined below); as used herein, "**Environmental Law**" means any Law
 relating to health, safety, the environment (including, without limitation, the protection,
 clean-up and restoration thereof and timely and proper completion of all relevant environmental
 protection acceptance procedures and receipt and renewal of all relevant pollutants emission
 permits), natural resources or Hazardous Materials (as defined below), including, without
 limitation, the distribution, processing, generation, treatment, storage, disposal, transportation,
 other handling or release or threatened release of Hazardous Materials, and "**Hazardous Materials**" means any material (including pollutants, contaminants, hazardous or
 toxic substances or wastes) that is regulated by or may give rise to liability under any
 Environmental Law.

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| | |
|:---|:---|
| **13** | **Cybersecurity and Data Protection** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 (A) Each of the Company and the Subsidiaries
 has complied with all applicable Laws concerning cybersecurity, data protection, cross-border
 data transfer, the privacy and security of Information Technology and Personal Data and confidentiality
 and archive administration ()"**Data Protection Laws**") in all material aspects;
 (B) neither the Company nor any of the Subsidiaries is, or is expected to be classified
 as, a "critical information infrastructure operator" under the Cybersecurity
 Law of the PRC; (C) neither the Company nor any of the Subsidiaries is subject to any
 investigation, inquiry or sanction relating to the Data Protection Law or from the Cyberspace
 Administration of China ()"**CAC** "), the CSRC, or any other relevant Authority;
 (D) neither the Company nor any of the Subsidiaries has received any notice (including,
 without limitation, any enforcement notice, de-registration notice, cybersecurity review
 or transfer prohibition notice), letter, complaint or allegation from the relevant cybersecurity,
 data privacy, confidentiality or archive administration Authority alleging any breach or
 non-compliance by it of the applicable Data Protection Laws or prohibiting the transfer of
 data to a place outside the relevant jurisdiction; (E) neither the Company nor any of
 the Subsidiaries has received any claim for compensation from any person in respect of its
 business under Data Protection Laws or industry standard in respect of inaccuracy, loss,
 unauthorized destruction or unauthorized disclosure of data and there is no outstanding order
 against the Company or any of the Subsidiaries in respect of the rectification or erasure
 of data; (F) no warrant has been issued authorizing the cybersecurity, data privacy,
 confidentiality or archive administration Authority (or any of its officers, employees or
 agents) to enter any of the premises of the Company or any of the Subsidiaries for the purposes
 of, inter alia, searching them or seizing any documents or other material found there; (G) neither
 the Company nor any of the Subsidiaries has received any communication, inquiry, notice,
 warning or sanctions with respect to the Cybersecurity Law of the PRC or from the CAC or
 pursuant to the Data Protection Laws (including, without limitation, the CSRC Archive Rules);
 (H) the Company is not aware of any pending or threatened investigation, inquiry or
 sanction relating to cybersecurity, data privacy, confidentiality or archive administration,
 or any cybersecurity review, by the CAC, the CSRC, or any other relevant Authority on the
 Company or any of the Subsidiaries or any of their respective directors, officers and employees;
 (I) the Company is not aware of any pending or threatened actions, suits, claims, demands,
 investigations, judgments, awards and proceedings on the Company or any of the Subsidiaries
 or any of their respective directors, officers and employees pursuant to the Data Protection
 Laws (including, without limitation, the CSRC Archive Rules); and (J) neither the Company
 nor any of the Subsidiaries has received any objection to this Global Offering or the transactions
 contemplated under this Agreement from the CSRC, the CAC or any other relevant Authority,
 except where in the case of (A), (C), (D), (E), (F), (G), (H) and (I), any such breach,
 violation or default would not, individually or in the aggregate, have a Material Adverse
 Effect. The statements disclosed or made available in writing or orally and used as the basis
 of information contained in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus relating to the cybersecurity and data
 privacy related matters in the sections headed "Risk Factors," "Business,"
 "Regulatory Overview," "Prospectus Summary," "Prospectus Supplement
 Summary," "Regulations," "Key Information," "Information
 of the Company" and "Cybersecurity" are complete, true and accurate in
 all material respects and not misleading.

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| | |
|:---|:---|
| **14** | **Insurance** |
| 14.1 | Each of the Company and the Subsidiaries is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the markets and businesses in which they are engaged; all policies of insurance and fidelity or surety bonds insuring the Company or any Subsidiary, or their respective businesses, assets and employees are in full force and effect; none of the insurance policies or instruments in respect of the assets of the Company and/or the Subsidiaries is subject to any special or unusual terms or restrictions or to the payment of any premium in excess of normal life; the Company and the Subsidiaries are in compliance with the terms of such policies and instruments; there are no claims by the Company or any Subsidiary under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; none of the Company and the Subsidiaries has been refused any material insurance coverage sought or applied for; and none of the Company and the Subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business as currently conducted or as proposed to be conducted at a cost that would not, individually or in the aggregate, have a Material Adverse Effect. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 The description of the insurance coverage
 of the Company and the Subsidiaries contained in the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus is true and accurate in
 all material respects and not misleading.

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| | |
|:---|:---|
| **15** | **Internal Controls** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Save as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 each of the Company and the Subsidiaries has established and maintains procedures which provide
 a reasonable basis for the directors to make proper assessments as to the financial position
 and prospects of the Company and the Subsidiaries, and each of the Company and the Subsidiaries
 maintains a system of internal accounting controls sufficient to provide reasonable assurance
 that (A) transactions are executed in accordance with management's general or
 specific authorizations; (B) transactions are recorded as necessary to permit preparation
 of returns and reports to regulatory bodies as and when required by them and financial statements
 (and the notes thereto) in conformity with IFRS, other relevant generally accepted accounting
 principles or applicable accounting requirements, and maintain accountability for assets;
 (C) access to assets is permitted only in accordance with management's general
 or specific authorization; (D) the recorded accountability for assets is compared with
 existing assets at reasonable intervals and appropriate actions are taken with respect to
 any differences; (E) each of the Company and the Subsidiaries has made and kept books,
 records and accounts which, in reasonable detail, accurately and fairly reflect the transactions
 and dispositions of assets of such entity and provide a sufficient basis for the preparation
 of the Company's consolidated financial statements and notes thereto in accordance
 with IFRS, other relevant generally accepted accounting principles or applicable accounting
 requirements; and (F) such internal accounting and financial reporting controls are
 effective to perform the functions for which they were established and documented properly
 and the implementation of such internal accounting and financial reporting controls are monitored
 by the responsible persons; and the Company's current management information and accounting
 control system has been in operation for at least three years during which none of the Company
 and the Subsidiaries has experienced any material difficulties with regard to (A) through
 (F) above or with regard to ascertaining at any point in time the differences in real
 time between budgeted and actual expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 The Company's internal control over
 financial reporting is effective, and except as described in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus, there are
 no material weaknesses or deficiencies in the Company's and the Subsidiaries'
 internal control over accounting and financial reporting (whether or not remediated) and
 no changes in the Company's and the Subsidiaries' internal control over accounting
 and financial reporting or other factors that have materially and adversely affected, or
 could reasonably be expected to materially and adversely affect, the Company's and
 the Subsidiaries' internal control over accounting and financial reporting. Nothing
 has come to the attention of the auditors and the audit committee of the Board of the Company
 that have caused them to believe, (i) except as described in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 any significant deficiencies and material weaknesses in the design or operation of internal
 controls over financial reporting which have adversely affected or are reasonably likely
 to adversely affect the Company's ability to record, process, summarize and report
 financial information; and (ii) any fraud, whether or not material, that involves management
 or other employees who have a significant role in the Company's internal controls over
 financial reporting. The Company maintains "disclosure controls and procedures"
 (as such term is defined in Rule 13a-15(e) under the Exchange Act) that complies
 with the requirements of the Exchange Act, and such disclosure controls and procedures have
 been designed to ensure that material information relating to the Company and its Subsidiaries
 is made known to the Company's principal executive officer and principal financial
 officer by others within those entities; and such disclosure controls and procedures are
 effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 The Company has established and maintains
 corporate governance practices in accordance with the Code Provisions in the Corporate Governance
 Code as set forth in Appendix C1 to the Listing Rules; each of the Company and the Subsidiaries
 has established and maintains and evaluates disclosure and corporate governance controls
 and procedures to ensure that (A) information relating to the Company or any of the
 Subsidiaries is made known in a timely manner to the Board and management by others within
 those entities; and (B) the Company and the Board and management comply in a timely
 manner with the requirements of the Listing Rules, the Hong Kong Codes on Takeovers and Mergers
 and Share Buy-backs, the SFO, the Companies (Winding Up and Miscellaneous Provisions) Ordinance
 and the Companies Ordinance and any other applicable Laws, including the requirements of
 the Listing Rules on disclosure of inside information and notifiable, connected and
 other transactions required to be disclosed, and such disclosure and corporate governance
 controls and procedures are effective to perform the functions for which they were established
 and documented properly and the implementation of such disclosure and corporate governance
 controls and procedures policies are monitored by the responsible persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4 None of the deficiencies and issues identified
 in the internal control report prepared by the Internal Control Consultant would or could
 reasonably be expected to, individually or in the aggregate, materially and adversely limit,
 restrict or otherwise affect the ability of the Company or its Subsidiaries to comply with
 any applicable Laws. Any issues or deficiencies identified and as disclosed in such internal
 control report have been rectified or improved to a sufficient standard or level for the
 operation and maintenance of efficient systems of internal accounting and financial reporting
 controls and disclosure and corporate governance controls and procedures that are effective
 to perform the functions for which they were established and to allow compliance by the Company
 and the Board with all applicable Laws, and no such issues have materially and adversely
 affected, or could reasonably be expected to materially and adversely affect, such controls
 and procedures or such ability to comply with all applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5 The statutory books, books of account and
 other records of the Company and the Subsidiaries are up-to-date and contain complete and
 accurate records required by Laws to be dealt with in such books, and no notice or allegation
 that any is incorrect or should be rectified has been received; all accounts, documents and
 returns required by Laws to be delivered or made to the Registrar of Companies in Hong Kong,
 the SFC or any other Authority have been duly and correctly delivered or made.

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| | |
|:---|:---|
| **16** | **Compliance with Bribery, Anti-Money Laundering, Sanctions and Export Control Laws** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 (A) None of the Warrantors, the Subsidiaries,
 their respective directors, supervisors (if any), officers, or employees, or, to the Warrantors'
 knowledge, any agents, affiliates, representatives or other person acting on behalf of the
 Warrantors or any of Subsidiaries or their respective affiliates (collectively, the "**Group Relevant Persons** "), is an individual or entity ()"**Person**") that
 is, or is owned or controlled by a Person that is, targeted by or subject to any Sanctions
 Laws and Regulations (as defined below); (B) none of the Group Relevant Persons (x) is
 located, organised or resident in a country, region or territory that is, or whose government
 is, targeted by or subject to any Sanctions Laws and Regulations (including, without limitation,
 the so-called Donetsk People's Republic, the so-called Luhansk People's Republic of
 Ukraine, Kherson, Zaporizhzhya and the Crimea region of Ukraine, Cuba, Iran, North Korea
 and Syria (each, a "**Sanctioned Country** ")), (y) undertakes any transactions,
 or has any connections, with any country or territory, person, or entity subject to any Sanctions
 Laws and Regulations or any person or entity in those countries or territories or performing
 contracts in support of projects in or for the benefit of those countries or territories,
 (z) is engaged in any activities sanctionable under the Comprehensive Iran Sanctions,
 Accountability, and Divestment Act of 2010, the Iran Sanctions Act, the Iran Threat Reduction
 and Syria Human Rights Act, or any applicable executive order; (C) the Company will
 use the proceeds from the Global Offering exclusively in the manner set forth in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus in the sections headed "Future Plans and Use of Proceeds" and
 "Use of Proceeds" and will not, directly or indirectly, use such proceeds, or
 lend, contribute or otherwise make available such proceeds to any Subsidiary or their respective
 joint venture partners or other Person (x) for the purpose of financing or facilitating
 any activities or business of or with any Person that is subject to or the target of Sanctions
 Laws and Regulations, or of, with or in the Sanctioned Countries, or any country, region
 or territory that is targeted by or subject to any Sanctions Laws and Regulations, at the
 time of such funding or facilitation, or (y) in any other manner that will result in
 a violation (including by any person or entity participating in the sale of the Offer Shares,
 whether as underwriter, advisor, investor or otherwise) of any of the Sanctions Laws and
 Regulations; (D) each of the Warrantors and the Subsidiaries is in compliance with all
 export control and import laws and regulations in the U.S., China and other countries, including
 the U.S. Export Administration Regulations (the "**EAR** "), the U.S. Customs
 regulations, and various economic sanctions regulations administered by the Office of Foreign
 Assets Control of the U.S. Department of the Treasury (the "**OFAC** "); (F) [ *Reserved* ];
 (G) the Warrantors and the Subsidiaries covenant not to engage, directly or indirectly,
 in any other activities that would result in a violation of Sanctions Laws and Regulations
 by any Person (including any Person participating in the Global Offering); and (H) since
 April 24, 2019, the Group Relevant Persons have not knowingly engaged in, are not now
 knowingly engaged in, and will not engage in, any dealings or transactions directly or indirectly
 with any Person, or in any country, region or territory, that at the time of the dealing
 or transaction is or was, or whose government was, the subject or target of a Sanctions Laws
 and Regulations or any entity owned or controlled by a Person who is the target of the Sanctions
 Laws and Regulations, or with any Sanctioned Country, or that would result in a violation
 of Sanctions Laws and Regulations by any Person (including any Person participating in the
 offering of the Offer Shares); as used herein, "**Sanctions Laws and Regulations** "
 means (i) any U.S. sanctions related to or administered or enforced by the U.S. government,
 including but not limited to the OFAC, the BIS or the U.S. Department of State, including,
 without limitation, designation on the Specially Designated National or Blocked Person ()"**SDN** ")
 List, the Chinese Military Industrial Complex Companies ()"**CMIC**") List,
 the Entity List or the Military End User List, (ii) any sanctions or requirements imposed
 by, or based upon the obligations or authorities set forth in, the U.S. Trading With the
 Enemy Act, the U.S. International Emergency Economic Powers Act, the U.S. United Nations
 Participation Act or the U.S. Syria Accountability and Lebanese Sovereignty Act, all as amended,
 or any of the foreign assets control regulations of the U.S. Department of the Treasury (including
 31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order
 relating thereto and (iii) any sanctions or measures imposed by the United Nations Security
 Council, the European Union (including under Council Regulation (EC) No. 194/2008),
 His Majesty's Treasury of the United Kingdom, the Swiss State Secretariat for Economic
 Affairs, the Monetary Authority of Singapore, the Hong Kong Monetary Authority, the Cayman
 Islands Monetary Authority, or other relevant sanctions authorities or other relevant sanctions
 or export control authority of any Authority. The Company has instituted and maintained policies
 and procedures designed to ensure continued compliance therewith (including ensuring continued
 compliance of the Subsidiaries) and with the representation and warranty contained herein.
 The issue and sale of the Offer Shares, and the execution, delivery and performance of this
 Agreement, the consummation of any other transaction contemplated hereby, or the provision
 of services contemplated by this Agreement to the Company will not result in any violation
 of the Sanctions Laws and Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 None of the Group Relevant Persons is aware
 of or has, directly or indirectly, made or authorised (A) the payment of any money or
 the giving of anything of value to any official, employee, agent, representative or any other
 person acting in an official capacity for any Government Entity (as defined below), including
 personnel of hospitals (public and private) and local governments, to any political party
 or official thereof or to any candidate for public office, any member of a royal or ruling
 family, or immediate family members and close associates of all parties mentioned above (each
 a "**Government Official**") or to any person under circumstances where a
 Group Relevant Person knew or was aware of a high probability that all or a portion of such
 money or thing of value would be offered, given or promised, directly or indirectly, to any
 Government Official, where either the payment, the contribution or the gift, or the purpose
 thereof, was, is, or would be prohibited under any applicable anti-corruption Laws; (B) used
 any funds for any unlawful contribution, gift, entertainment or other unlawful expense relating
 to political activity; or (C) made, offered, agreed, requested or taken an act in furtherance
 of any bribe or other unlawful benefit, rebate, payoff, influence payment, kickback or other
 unlawful or improper payment or benefit; without prejudice to the foregoing, none of the
 Group Relevant Persons has violated or is in violation of Anti-Corruption Laws (as used here,
 "**Anti-Corruption Laws**" means the United States Foreign Corrupt Practices
 Act of 1977, the United Kingdom Bribery Act of 2010, the relevant provisions of the Criminal
 Law of the PRC, the Anti- Unfair Competition Law of the PRC, the Provisional Regulations
 on Anti-Commercial Bribery, the Prevention of Bribery Ordinance (Chapter 201 of the Laws
 of Hong Kong), any legislation implementing the Organization for Economic Cooperation and
 Development Convention on Combating Bribery of Foreign Public Officials in International
 Business Transactions, and any other applicable anti-bribery or anti-corruption laws, rules or
 regulations); and the Warrantors and the Subsidiaries and their affiliates have conducted
 their businesses in compliance with Anti-Corruption Laws and have instituted, maintained
 and enforced, and will continue to maintain and enforce, policies and procedures designed
 to promote and achieve continued compliance with such laws and with the representations and
 warranties contained herein; no investigation, action, suit or proceedings by or before any
 court or governmental agency, authority or body or any arbitrator involving the Company or
 any of the Subsidiaries with respect to the Anti-Corruption Laws is pending or to the best
 of the Warrantors' knowledge, threatened; none of the Company or any of its Subsidiaries
 will use, directly or indirectly, the proceeds of this Global Offering in furtherance of
 an offer, payment, promise to pay, or authorization of the payment or giving of money, or
 anything else of value, to any person in violation of any Anti-Corruption Laws; as used herein,
 "**Government Entity**" means any government or any department, agency or
 instrumentality thereof, including any entity or enterprise owned or controlled by a government,
 a judicial body or a public international organization, a body that exercises regulatory
 authority over any of the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers or Underwriters, or an entity with an aggregate
 25% or more government ownership or control by any one of the foregoing parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 None of the Group Relevant Persons or the
 respective directors, supervisors (if any), officers, agents, employees or affiliates or
 any other person acting for or on behalf of the foregoing is aware of or has, directly or
 indirectly, received or authorised the receipt of the payment of any money or the gift of
 anything of value from any supplier of raw materials, equipment or services, where either
 the payment or the gift was, is, or would be (A) for the purpose of inducing the Company
 or the Subsidiaries to procure or increase the procurement of raw materials, equipment or
 services; or (B) prohibited under any applicable Law of the Cayman Islands, the United
 States, Hong Kong, the PRC or any other jurisdiction; and each of the Company and the Subsidiaries
 maintains and has implemented adequate internal controls and procedures to monitor and supervise
 the Group Relevant Persons that are designed to detect and prevent any such receipt of payment
 or gift of anything of value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4 The operations and conducts (as applicable)
 of the Company and the Subsidiaries are, and at all times have been, conducted in compliance
 with applicable financial recordkeeping and reporting requirements, including but not limited
 to those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
 America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
 2001 (USA PATRIOT Act), the United States Currency and Foreign Transactions Reporting Act
 of 1970, as amended, any other United States anti-money laundering laws, and any applicable
 Laws relating to money laundering in all jurisdictions where the Company and each Subsidiaries
 conduct business, the rules and regulations thereunder and any related or similar rules,
 regulations or guidelines, issued, administered or enforced by any governmental or regulatory
 agency (collectively, the "**Anti-Money Laundering Laws** "), and each of the
 Company and the Subsidiaries has instituted and maintains policies and procedures which are
 designed to ensure continued compliance with the Anti-Money Laundering Laws and with the
 representation and warranty contained herein. No action, suit, proceeding, investigation
 or inquiry by or before any Authority involving any of the Company or the Subsidiaries or
 their respective businesses with respect to Anti-Money Laundering Laws is pending or, to
 the best knowledge of the Company, threatened. The Company and the Subsidiaries will not
 directly or indirectly use the proceeds of the Global Offering, or lend, contribute or otherwise
 make available such proceeds to any subsidiary, affiliate, joint venture partner or other
 person or entity for the purpose of financing or facilitating any activity that would violate
 the Anti-Money Laundering Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5 Neither the Company nor any of its Subsidiaries
 (A) currently engages, or has plans to engage, directly or indirectly, in a "covered
 activity" referred to in the definition of "prohibited transaction" in
 31 C.F.R. § 850.224; or (B) directly or indirectly, holds a board seat or a voting
 or equity interest in, or any contractual power to direct or cause the direction of the management
 policies of one or more persons or entities engaged or that has plans to engage in such activities
 referred to in (A) above and (i) from which the Company derives more than 50% of
 its revenue or net income individually, or as aggregated across such persons or entities
 from each of which the Company derives at least $50,000 (or equivalent) of its revenue or
 net income, on an annual basis, or (ii) for which the Company incurs more than 50% of
 its capital expenditure or operating expenses individually, or as aggregated across such
 persons or entities for each of which the Company incurs at least $50,000 (or equivalent)
 of its capital expenditure or operating expenses, on an annual basis.

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| | |
|:---|:---|
| **17** | **Experts** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 Each of the experts named in the section
 headed "Appendix IV—Statutory and General Information—Other Information—Qualification
 of Experts" and "Experts" of the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus is independent of the Company
 (as determined by reference to Rule 3A.07 of the Listing Rules) and is able to form
 and report on its views free from any conflict of interest and has granted its consent to
 including its report, opinions, letters or certificates (as the case may be) in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 and has not withdrawn its consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2 (A) The factual contents of the reports,
 opinions, letters or certificates of the Reporting Accountants, the Internal Control Consultant,
 the Industry Consultant, and any other consultants and any counsel for the Company, respectively,
 are and will remain complete, true and accurate in all material respects (and where such
 information is subsequently amended, updated or replaced, such amended, updated or replaced
 information is complete, true and accurate in all material respects) and no fact or matter
 has been omitted therefrom which would make the contents of any of such reports, opinions,
 letters or certificates misleading, and the opinions attributed to the Directors in such
 reports, opinions, letters or certificates are held in good faith based upon facts within
 the best of their knowledge after due and careful inquiry, and none of the Company and the
 Directors disagree with any aspect of such opinions, reports, letters or certificates; and
 (B) no information was withheld from the Reporting Accountants, the Internal Control
 Consultant, the Industry Consultant, any counsel for the Company or the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs or the Underwriters, any other consultants or professional
 advisers, as applicable, for the purposes of their respective preparation of any report,
 opinion, letter or certificate (whether or not contained in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus) in connection
 with the Global Offering and the listing of the Shares on the Stock Exchange, and all information
 given to each of the foregoing persons for such purposes was given in good faith and there
 is no other information or documents which have not been provided the result of which would
 make the information or documents so received misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3 (A) The assumptions made by the Reporting
 Accountants, the Internal Control Consultant, the Industry Consultant and any other consultants
 and any counsel for the Company in their respective reports, opinions, letters or certificates
 (the "**Relevant Reports**") are considered by the Warrantors to be reasonable
 and appropriate; (B) the market positioning of the Company contained in the Industry
 Consultant Report are considered by the Warrantors to be accurately represented, reasonable
 and not misleading; (C) no facts have come to the attention of the Warrantors or any
 of their respective directors, supervisors or officers that have caused them to believe that
 the Relevant Reports, as of their respective dates and as of the date hereof, contained or
 contains any untrue statement of a material fact or omitted or omits to state a material
 fact or assumption necessary in order to make the statements therein, in the light of the
 circumstances under which they were made, not misleading; and (D) the report prepared
 by the Industry Consultant was prepared at the Company's request based on a contractual
 arrangement which the Company negotiated on an arms' length basis.

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| | |
|:---|:---|
| **18** | **Provision of Information** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 The Warrantors, their respective agents
 and representatives (other than the International Underwriters in their capacity as such)
 (A) have not, without the prior written consent of the Overall Coordinators and the
 Joint Global Coordinators prepared, made, used, authorized, approved or referred to any Supplemental
 Offering Material; and (B) will not, without the prior written consent of the Overall
 Coordinators and the Joint Global Coordinators, prepare, make, use, authorize, approve or
 refer to any Supplemental Offering Material. The Warrantors have not distributed and, prior
 to the later of the First Time of Delivery or any Additional Time of Delivery and the completion
 of the distribution of the Offer Shares will not distribute any offering material in connection
 with the Global Offering and sale of the Offer Shares other than the Hong Kong Prospectus,
 the Preliminary Prospectus, the Final Prospectus, any free writing prospectuses, if any,
 identified in Schedule II of the International Underwriting Agreement and any Written Testing-the-Waters
 Communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2 None of the Warrantors, the Subsidiaries,
 or any of their respective directors, officers, employees, affiliates, advisors or agents,
 has (whether directly or indirectly, formally or informally, in writing or verbally) provided
 to any research analyst any material information, including forward looking information (whether
 qualitative or quantitative) concerning the Company or any Subsidiary that is not, or is
 not reasonably expected to be, included in each of the Hong Kong Prospectus, Registration
 Statement, the Time of Sale Prospectus and the Final Prospectus or publicly available.

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| | |
|:---|:---|
| **19** | **Material Contracts and Connected Transactions** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1 (A) All material contracts to which
 the Company or any Subsidiary is a party that are required to be disclosed in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 or filed therewith or with the Registrar of Companies in Hong Kong (collectively, the "**Material Contracts**") have been so disclosed or filed pursuant to the applicable disclosure
 or filing requirements; none of the Material Contracts will, without the written consent
 of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers and the International Underwriters,
 be entered into or terminated, nor will the terms of any Material Contracts be changed, prior
 to or on the Listing Date; and none of the Company, the Subsidiaries nor any other party
 to a Material Contract has sent or received any communication regarding termination of, or
 intention not to renew, such Material Contract, and no such termination or non-renewal has
 been threatened by the Company, any Subsidiary or, to the best of the Company's knowledge,
 any other party to such Material Contract; (B) neither the Company nor any Subsidiary
 has been informed by any counterparties to its Material Contracts that the Company or such
 Subsidiary is in breach of any terms thereof; (C) each of the contracts listed as being
 material contracts in the section of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus headed "Appendix IV—Statutory
 and General Information—Further Information About Our Business—Summary of Material
 Contract" or filed as an exhibit to the Registration Statement has been duly authorised,
 executed and delivered and is legal, valid, binding and enforceable in accordance with its
 terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2 Except as disclosed in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 none of the Company or any of the Subsidiaries has any capital commitment, or is, or has
 been, party to any unusual, long-term or onerous commitments, contracts or arrangements not
 wholly on an arm's length basis in the ordinary and usual course of business (for these purposes,
 a long term contract, commitment, or arrangement is one which is unlikely to have been fully
 performed in accordance with its terms within six months after the date it was entered into
 or undertaken or is incapable of termination by either the Company or any of the Subsidiaries
 (as applicable) on six months' notice or less).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3 The Company does not have any reason to
 believe that any material supplier, distributor or customer of the Company or any of the
 Subsidiaries is considering ceasing to deal with the Company and/or any of the Subsidiaries
 (as applicable) or reducing the extent or value of its dealings with the Company or the relevant
 Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.4 None of the Company or any of the Subsidiaries
 is a party to any agreement or arrangement which prevents or restricts it in any way from
 carrying on business in any jurisdiction, except where such agreement or arrangement would
 not, individually or in the aggregate, result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.5 None of the Company and the Subsidiaries
 is engaged in any trading activities involving commodity contracts or other trading contracts
 which are not currently traded on a securities or commodities exchange and for which the
 market value cannot be determined.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.6 None of the Company, the Subsidiaries or
 to the best of the Company's knowledge, their respective affiliates is a party to any
 agreement, arrangement or concerted practice or is carrying on any practice that in whole
 or in part contravenes or is invalidated by any anti-trust, anti-monopoly, competition, fair
 trading, consumer protection or similar Laws in any jurisdiction where the Company or any
 Subsidiary has property or assets or carries on business or in respect of which any Governmental
 Authorization is required or is advisable pursuant to such Laws (whether or not the same
 has in fact been made).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.7 There will be no connected transactions
 (as defined under the Listing Rules) between the Company or any of the Subsidiaries and a
 connected person (as defined under the Listing Rules) subsisting immediately upon completion
 of the Global Offering, except as disclosed in the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus, and there are no relationships
 or transactions not in the ordinary course of business between the Company or any of the
 Subsidiaries and their respective customers, suppliers or business partners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.8 In respect of the connected transactions
 (as defined in the Listing Rules and in accordance with the guidance from the Stock
 Exchange) of the Group (the "**Connected Transactions**") disclosed in each
 of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and
 the Final Prospectus, (A) the statements set forth in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus relating
 to such transactions are complete, true and accurate in all material respects, and there
 are no other facts or matters the omission of which would make any such statements, in light
 of the circumstances under which they were made, misleading, and there are no other Connected
 Transactions which are required by Chapter 14A of the Listing Rules to be disclosed
 in the Hong Kong Prospectus but have not been disclosed as such; (B) the Connected Transactions
 disclosed in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus have been entered into and carried out, and will
 be carried out, in the ordinary course of business and on normal commercial terms and are
 fair and reasonable and in the interests of the Company and the shareholders of the Company
 as a whole, and the Directors, including, without limitation, the independent non-executive
 Directors, in coming to their view have made due and proper inquiries and investigations
 of such Connected Transactions; (C) the Company has complied with and will continue
 to comply with the terms of such Connected Transactions disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 so long as the agreement or arrangement relating thereto is in effect; (D) each of such
 Connected Transactions and related agreements and undertakings as disclosed in each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus has been duly authorized, executed and delivered, constitutes a legal, valid and
 binding agreement or undertaking of the parties thereto, enforceable in accordance with its
 terms, and is in full force and effect; and (E) each of such Connected Transactions
 disclosed in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus has been and will be carried out by the Group in
 compliance with all applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.9 No indebtedness (actual or contingent) and
 no contract or arrangement is outstanding between the Company or any of the Subsidiaries,
 on the one hand, and any substantial shareholder or any current or former director, supervisor
 (if any) or officer of the Company or the Subsidiaries or any of their respective spouses,
 children or other relatives or any corporate, trust or entity in which any of them has a
 controlling interest, on the other hand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.10 None of the Single Largest Group of Shareholders,
 the directors, supervisors (if any) or officers of the Company or any of the Subsidiaries,
 or any of their respective associates (as the term is defined in the Listing Rules), either
 alone or in conjunction with or on behalf of any other person, (A) is interested in
 any business that is similar to or competes or is likely to compete, directly or indirectly,
 with the business of the Company or any Subsidiary; (B) is interested, directly or indirectly,
 in any assets which have since the date two years immediately preceding the date of the Hong
 Kong Prospectus been acquired or disposed of by or leased to the Company or any Subsidiary;
 or (C) is or will be interested in any agreement or arrangement with the Company or
 any Subsidiary which is subsisting and which is material in relation to the business of the
 Company or such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.11 None of the Directors has revoked or withdrawn
 the authority and confirmations in the responsibility letter, statement of interests and
 power of attorney, Director's certificate, personal details form for directors and
 confirmation letter, in each case to the extent applicable, issued by her/him to the Company
 and the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators and/or the Joint Global
 Coordinators, and such authority and confirmations remain in full force and effect.

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| | |
|:---|:---|
| **20** | **Historical Changes** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1 The descriptions of the events, transactions
 and documents (the "**Historical Changes Documents**") relating to the transfers
 and changes in the share capital of the Company (the "**Historical Changes** ")
 and the corporate structure charts as set forth in the sections of each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 headed "History, Development and Corporate Structure", "Appendix IV—Statutory
 and General Information", "Prospectus Summary", "Corporate History
 and Structure" and "Description of Share Capital" and "Information
 of the Company" are complete, true and accurate in all material respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2 [ *Reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.3 The events and transactions relating to
 the Historical Changes and the execution, delivery and performance of the Historical Changes
 Documents did not conflict with, or result in a breach or violation of, or constitute a default
 under (or constitute any event which, with notice or lapse of time or fulfilment of any condition
 or compliance with any formality or all of the foregoing, would result in a breach or violation
 of, constitute a default under or give the holder of any indebtedness (or a person acting
 on such holder's behalf) the right to require the repurchase, redemption or repayment
 of all or part of such indebtedness under) (A) the memorandum articles of association
 or other constituent or constitutive documents or the business license (as applicable) of
 the Company or any of the Subsidiaries; (B) any indenture, mortgage, deed of trust,
 loan or credit agreement or other evidence of indebtedness, or any licence, authorization,
 lease, contract or other agreement or instrument to which the Company or any of the Subsidiaries
 is a party or by which the Company or any of the Subsidiaries is bound or any of their respective
 properties or assets may be bound or affected; (C) any Laws applicable to the Company
 or any of the Subsidiaries or any of their respective properties or assets; or (D) any
 judgment, order or decree of, or any undertaking made to, any Authority having jurisdiction
 over the Company and/or the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.4 Neither the events and transactions relating
 to the Historical Changes nor the execution, delivery and performance of any of the Historical
 Changes Documents (A) resulted in the creation or imposition of any pledge, charge,
 lien, mortgage, security interest, claim, pre-emption rights, equity interest, third party
 rights or interests or rights similar to the foregoing upon any property or assets of the
 Company or any of the Subsidiaries; or (B) has rendered the Company or any of the Subsidiaries
 liable to any additional Tax, duty, charge, impost or levy of any amount which has not been
 provided for in the accounts upon which the Accountant's Report was prepared by the
 Reporting Accountants or otherwise described in the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.5 All Governmental Authorizations required
 or advisable in connection with the events and transactions relating to the Historical Changes
 and the execution, delivery and performance of the Historical Changes Documents have been
 unconditionally obtained or made; all such Governmental Authorizations are valid and in full
 force and effect and none of such Governmental Authorizations is subject to any condition
 precedent which has not been satisfied or performed or other materially burdensome restrictions
 or conditions not described in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus; each of the Governmental Authorizations
 granted by the relevant Authority to the Company or any of the Subsidiaries prior to the
 reorganization and necessary for the operation of the Company and the Subsidiaries has been
 validly and legally transferred, renewed, maintained or assumed following the reorganization;
 and neither the Company nor any of the Subsidiaries is in violation of, or in default under,
 or has received notice of any action, suit, proceeding, investigation or inquiry relating
 to revocation, suspension or modification of, or has any reason to believe that any Authority
 is considering revoking, suspending or modifying, any such Governmental Authorizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.6 Transactions contemplated by the Historical
 Changes have been effected prior to the date hereof in compliance with all applicable Laws
 and in accordance with the Historical Changes Documents; other than the Historical Changes
 Documents, there are no other documents or agreements, written or oral, relating to the Company,
 any of the Subsidiaries and/or the Single Largest Group of Shareholders (where applicable)
 in connection with the events and transactions relating to the Historical Changes which have
 not been previously provided, or made available, to the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs, the Underwriters and/or the legal and other professional advisers
 to the Underwriters and which have not been disclosed in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.7 [ *Reserved* ]

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| | |
|:---|:---|
| **21** | **Pre-IPO Investments** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1 The descriptions of the events, transactions
 and documents relating to the pre-IPO investments as set forth in the section of each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus headed "History, Development and Corporate Structure" and "Description
 of Share Capital" (the "**Pre-IPO Investments**") are complete, true
 and accurate in all material respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2 (A) All Governmental Authorizations
 required in connection with the Pre-IPO Investments have been unconditionally obtained or
 made; (B) all such Governmental Authorizations are valid and in full force and effect,
 and none of such Governmental Authorizations is subject to any condition precedent which
 has not been satisfied or performed or other materially burdensome restrictions or conditions
 not described in each of the Registration Statement, the Preliminary Prospectus, the Time
 of Sale Prospectus and the Final Prospectus; and (C) neither the Company nor any of
 the Subsidiaries is in violation of, or in default under, or has received notice of any action,
 suit, proceeding, investigation or inquiry relating to revocation, suspension or modification
 of, or has any reason to believe that any Authority is considering revoking, suspending or
 modifying, any such Governmental Authorizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.3 The Pre-IPO Investments are in compliance
 with Chapter 4.2 of the Guide.

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| | |
|:---|:---|
| **22** | **Taxation** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.1 All returns, reports and filings (including
 elections, declarations, forms, disclosures, schedules, estimates and information returns,
 together with any attachments required to be included) which are required to have been filed
 by or in respect of the Company or the Subsidiaries for Taxation purposes have been filed,
 except where the failure to file would not, individually or in the aggregate, have a Material
 Adverse Effect; and all such returns, reports and filings are complete, true and accurate
 and are not the subject of any dispute with the relevant Tax or other appropriate authorities;
 all Taxes required to be paid by each of the Company and the Subsidiaries have been paid
 in full whether or not shown on any Tax return (and all amounts required to be withheld from
 amounts owing to any employee, creditor, or third party have been withheld in full), except
 for cases in which the failure to pay would not, individually or in the aggregate, have a
 Material Adverse Effect; the provisions included in the audited consolidated financial statements
 as set out in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus included appropriate and adequate provisions required
 under IFRS for all Taxation in respect of accounting periods ended on or before the accounting
 reference date to which such audited consolidated financial statements relate and for which
 the Company or any Subsidiary was then or might reasonably be expected thereafter to become
 or have become liable; none of the Company and the Subsidiaries has received written notice
 of any Tax audit or examination, or any Tax assessment or deficiency that has been asserted
 against the Company or any Subsidiary (nor does any of the Company or any of the Subsidiaries
 have any notice or knowledge of any Tax assessment or deficiency which could reasonably be
 expected to be determined adversely to the Company or its Subsidiaries) that could reasonably
 be expected to have, individually or in the aggregate, a Material Adverse Effect; there are
 no liens for Taxes on the assets of the Company or the Subsidiaries other than liens for
 Taxes (A) not yet due and payable; or (B) being diligently contested in good faith
 by appropriate proceedings and for which adequate reserves have been established on the books
 and records of the Company and the Subsidiaries in accordance with IFRS and properly reflected
 on the audited consolidated financial statements (and any notes thereto). The Company is
 not a PRC resident enterprise for PRC tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2 All local and national governmental Tax
 waivers and other local and national PRC or other Tax relief, concession and preferential
 treatment granted to the Company or the Subsidiaries are valid, binding and enforceable and
 do not violate any provision of any Law or statute or any order, rule or regulation
 of any Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3 No stamp, documentary, issuance, registration,
 transfer, capital gains, income, withholding, value added or other Taxes or duties are payable
 by or on behalf of the Company, any Subsidiary or any Underwriters (including any parties
 that would receive, sell or deliver the Offer Shares or cash payments therefor) in the Cayman
 Islands, Hong Kong, the PRC, the United States, or any political subdivision or any taxing
 or other Authority thereof or therein in connection with (A) the creation, allotment
 and issuance of the Offer Shares; (B) the sale and delivery by the Company of the Offer
 Shares to or for the respective accounts of the International Underwriters and the Hong Kong
 Underwriters, as the case may be, in the manner contemplated in this Agreement and in the
 Hong Kong Underwriting Agreement, (C) the execution, delivery or consummation of this
 Agreement and the Hong Kong Underwriting Agreement, (D) the offer, sale and delivery
 within and outside Hong Kong by the International Underwriters or within Hong Kong by the
 Hong Kong Underwriters of the Offer Shares to the initial placees thereof in the manner contemplated
 in the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and
 the Final Prospectus, or (E) the deposit of the Offer Shares with the Hong Kong Securities
 Clearing Company Limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4 Neither the Company nor any of the Subsidiaries
 has been or is currently the subject of an inquiry into transfer pricing by any Taxation
 or other Authority and no Taxation Authority has indicated any intention to commence any
 such inquiry and there are no circumstances likely to give rise to any such inquiry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.5 Under existing Hong Kong Laws, holders of
 the Offer Shares are not subject to withholding Tax, income Tax or any other Taxes or duties
 imposed by any court or Authority of Hong Kong in respect of (i) any payments, dividends
 or other distributions made on the Offer Shares or (ii) gains made on sales of the Offer
 Shares between non-residents of Hong Kong consummated outside Hong Kong.

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| | |
|:---|:---|
| **23** | **Dividends** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1 Except as described in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 (A) none of the Company nor any of its Subsidiaries is prohibited, directly or indirectly,
 from paying any dividends, from making any other distribution on its shares, capital stock
 or other equity interests, from making or repaying any loans or advances to the Company or
 any other Subsidiary, or from transferring any of the properties or assets to the Company
 or to any other Subsidiary; and (B) such dividends and other distributions, (i) may
 be converted into foreign currency that may be freely transferred out of such entity's
 jurisdiction of incorporation, without the consent, approval, authorization or order of,
 or qualification with, any Authority in such entity's jurisdiction of incorporation
 or tax residence, provided however, that (1) such distribution has been duly approved
 by the shareholders and/or board meeting of the Company or any of its other Subsidiaries
 pursuant to its constitutional documents, (2) in case of the dividends declared and
 payable on the equity interest in a Subsidiary of the Company that is a foreign invested
 enterprise in China, such Subsidiary has duly obtained, and maintain effective, its foreign
 exchange registration, (3) the allocations to statutory reserves by the Company or any
 of its other Subsidiaries have been duly made, and (4) the remittance of such dividends
 outside of the PRC complies with the procedures required under PRC laws relating to foreign
 exchange, and (ii) except for those already described in each of the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus, are not
 and will not be subject to, and may be paid free and clear of and without deduction for or
 on account of, any withholding, value added or other Taxes under the currently effective
 laws and regulations of such entity's jurisdiction of incorporation or tax residence,
 and may be so paid without the necessity of obtaining any Governmental Authorization having
 jurisdiction over the Company, any of the Subsidiaries or any of their respective properties,
 assets or operations.

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| | |
|:---|:---|
| **24** | **Litigation and Other Proceedings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1 There are (A) (i) no legal, arbitral
 or governmental actions, proceedings, investigations or inquires pending or to the best of
 the Warrantors' knowledge, threatened or contemplated by or before any Authority, to
 which the Company or any of the Subsidiaries, or any of their respective directors, supervisors
 (if any), officers, employees or affiliates, is or may be a party or to which any properties,
 assets, products or services of the Company or any Subsidiary, or any of their respective
 directors, supervisors (if any) or officers, is or may be subject (including but not limited
 to those challenging the effectiveness, validity or compliance with Laws of the events, transactions
 and documents relating to Historical Changes), (ii) no Laws that have been enacted,
 adopted or issued or proposed by any Authority, and (iii) no judgments, decrees, orders,
 proceedings, investigations or inquiries of any Authority, which, in any of clause (i), (ii) or
 (iii), would or could reasonably be expected to, individually or in the aggregate, have a
 Material Adverse Effect, or adversely affect the power or ability of any of the Warrantors
 to perform its/his obligations under the Hong Kong Underwriting Agreement, this International
 Underwriting Agreement and the Operative Documents, to offer, sell and deliver the Offer
 Shares or to consummate the transactions contemplated by this Agreement, the Hong Kong Underwriting
 Agreement and the Operative Documents or otherwise adversely affect the Global Offering,
 or which are required to be described in the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus and are not so described; and (B) none
 of the Company or any of the Subsidiaries which is a party to a joint venture or shareholders'
 agreement is in dispute with the other parties to such joint venture or shareholders'
 agreement and there are no circumstances which may give rise to any dispute or affect the
 relevant member's relationship with such other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2 None of the Warrantors and the Subsidiaries
 has taken any action nor have any steps been taken or legal, legislative or administrative
 proceedings been started, threatened or contemplated or judgment been rendered (A) to
 wind up, make bankrupt, dissolve, deregister, liquidate, make dormant, or eliminate the Company
 or any Subsidiary; or (B) to withdraw, revoke or cancel any approval to conduct business
 or any operation of the Company or any Subsidiary.

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| | |
|:---|:---|
| **25** | **Market Conduct** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.1 Save for the appointment of the Stabilizing
 Manager, none of the Warrantors or the Subsidiaries, or their affiliates, or any of their
 respective directors, supervisors (if any), officers, and to the best of the Warrantors'
 knowledge, agents or employees, or any person acting on behalf of any of them (other than
 the Overall Coordinators, the Joint Global Coordinators and the Underwriters as to whom the
 Warrantors make no representation or warranty), has at any time prior to the date hereof,
 directly or indirectly, done any act or engaged in any course of conduct or will, until the
 Overall Coordinators have notified the Company of the completion of the distribution of the
 Offer Shares, do directly or indirectly any act or engage in any course of conduct: (A) which
 creates a false or misleading impression as to the market in or the value of the Shares and
 any associated securities; (B) the purpose of which is to create actual, or apparent,
 active trading in or to raise the price of the Shares; or (C) which constitutes non-compliance
 with the rules, regulations and requirements of the CSRC, the Stock Exchange, the SEC or
 any other Authority including those in relation to bookbuilding and placing activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.2 Except for the stock borrowing arrangement
 as disclosed in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus , none of the Warrantors or the Subsidiaries, or their
 affiliates, or any of their respective directors, supervisors (if any), officers, agents
 or employees, or any person acting on behalf of any of them (other than the Overall Coordinators,
 the Joint Global Coordinators and the Underwriters as to whom the Warrantors make no representation
 or warranty) (A) has taken or facilitated or will take or facilitate, directly or indirectly,
 any action which is designed to or which has constituted or which might reasonably be expected
 to cause or result in stabilization or manipulation of the price of any security of the Company
 to facilitate the sale or resale of any security of the Company or any Subsidiary or otherwise;
 (B) has taken or will take, directly or indirectly, any action which would constitute
 a violation of the Securities and Futures (Price Stabilizing) Rules under the Securities
 and Futures Ordinance, the market misconduct provisions of Parts XIII and XIV of the SFO,
 or the rules, regulations and requirements of the CSRC, or would constitute a violation of
 the market misconduct provisions of Parts XIII and XIV of the SFO; (C) has taken or
 will take or has omitted to take or will omit to take, directly or indirectly, any action
 which may result in the loss by any of the Underwriters or any person acting for them of
 the ability to rely on any stabilization safe harbor provided by the Securities and Futures
 (Price Stabilizing) Rules under the SFO or otherwise; (D) either alone or with
 one or more other persons, bid for or purchased, for any account in which it or any of its
 affiliates had a beneficial interest, any Offer Shares or attempted to induce any person
 to purchase any Offer Shares, provided that the granting of the Over-allotment Option or
 other stabilization action taken by the Stabilizing Manager or any person acting for it as
 stabilizing manager in accordance with Clause 6.1 of the Hong Kong Underwriting Agreement,
 Clause 1(d) of the International Underwriting Agreement, the Listing Rules, the SFO
 or any other applicable Laws in Hong Kong shall not constitute a breach of this subsection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.3 None of the Warrantors or any of the Subsidiaries,
 nor any of their respective directors, officers, supervisors (if any), employees or agents
 has, directly or indirectly, provided or offered (nor will, directly or indirectly, provide
 or offer) any rebates or preferential treatment to an investor in connection with the offer
 and sale of the Offer Shares or the consummation of the transactions contemplated hereby
 or by the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus. None of the Company or any of the Subsidiaries nor any of their
 respective directors, officers, agents or employees is aware of any arrangement which would
 result in an investor paying directly or indirectly, for the Offer Shares allocated, less
 than the total consideration as disclosed in the Registration Statement, the Preliminary
 Prospectus, the Time of Sale Prospectus and the Final Prospectus.

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| | |
|:---|:---|
| **26** | **Immunity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1 Under the Laws of the Cayman Islands, the
 PRC, Hong Kong and the United States, none of the Company, the Subsidiaries, nor any of their
 respective properties, assets or revenues, is entitled to any right of immunity on the grounds
 of sovereignty or crown status or otherwise from any action, suit or proceeding, from set-off
 or counterclaim, from the jurisdiction of any court or arbitral tribunal, from service of
 process, from attachment to or in aid of execution of a judgment, arbitral award or from
 other action, suit or proceeding for the giving of any relief or for the enforcement of any
 judgment or arbitral award; and the irrevocable and unconditional waiver and agreement of
 the Company in Clause 16 hereof not to plead or claim any such immunity in any action, suit
 or proceeding arising out of or based on this Agreement or the Hong Kong Underwriting Agreement
 or the transactions contemplated hereby and thereby is legal, valid and binding under the
 Laws of the Cayman Islands, Hong Kong, the PRC and the United States.

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| | |
|:---|:---|
| **27** | **Choice of Law and Dispute Resolution** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.1 The choice of law provisions set forth in
 this Agreement will be recognized by the courts of the Cayman Islands, the British Virgin
 Islands, Hong Kong, the PRC and the United States; each of the Warrantors can sue and be
 sued in its own name under the Laws of the Cayman Islands, the British Virgin Islands, Hong
 Kong, the PRC and the United States; the irrevocable submission by each of the Warrantors
 to the non-exclusive jurisdiction of any state or U.S. federal court in The City of New York
 and County of New York (a "**New York Court** "),the waiver by each of the
 Warrantors of any objection to the venue of a proceeding in a New York Court, the waiver
 and agreement not to plead an inconvenient forum, the waiver of sovereign and other immunity
 and the agreement that this Agreement shall be governed by and construed in accordance with
 the Laws of the State of New York are legal, valid and binding under the Laws of the Cayman
 Islands, the British Virgin Islands, Hong Kong, the PRC and the United States and will be
 respected by the courts of the Cayman Islands, the British Virgin Islands, Hong Kong, the
 PRC and the United States; service of process effected in the manner set forth in this Agreement
 will be effective, insofar as the Laws of the Cayman Islands, the British Virgin Islands,
 Hong Kong, the PRC and the United States are concerned, to confer valid personal jurisdiction
 over the Warrantors; and any judgment obtained in a New York Court arising out of or in relation
 to the obligations of the Warrantors under this Agreement will be recognized and enforced
 in the courts of the Cayman Islands, the British Virgin Islands, Hong Kong, the PRC and the
 United States, subject to the conditions described under the section headed "Enforceability
 of Civil Liabilities" in each of the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.2 [ *Reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.3 It is not necessary under the Laws of the
 Cayman Islands, Hong Kong, the PRC and the United States that any of the International Underwriters
 or the Hong Kong Underwriters (other than those incorporated or organized under the Laws
 of the Cayman Islands, Hong Kong, the PRC and the United States as the case may be) should
 be licensed, qualified or entitled to carry out business in Laws of the Cayman Islands, Hong
 Kong, the PRC and the United States (A) to enable them to enforce their respective rights
 under this Agreement, the Hong Kong Underwriting Agreement or any other document to be furnished
 hereunder or thereunder; or (B) solely by reason of the execution, delivery or performance
 of this Agreement and the Hong Kong Underwriting Agreement.

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| | |
|:---|:---|
| **28** | **Professional Investor** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.1 The Warrantors have read and understood
 the Professional Investor Treatment Notice set forth in Schedule 6 of the Hong Kong Underwriting
 Agreement hereto and acknowledges and agrees to the representations, waivers and consents
 contained in such notice, in which the expressions "you" or "your"
 shall mean the Warrantors, and "we" or "us" or "our"
 shall mean the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global
 Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs and the Underwriters.

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| | |
|:---|:---|
| **29** | **No Other Arrangements Relating to Sale of Offer Shares; No Other Offerings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.1 There are no contracts, agreements or understandings
 between the Warrantors or any Subsidiary and any person or entity (other than the Hong Kong
 Underwriters pursuant to the Hong Kong Underwriting Agreement and the International Underwriters
 pursuant to this International Underwriting Agreement) that would give rise to any claim
 against the Company, any Subsidiary or any Underwriter for brokerage commissions, finder's
 fees or other payments in connection with the offer and sale of the Offer Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.2 Neither the Company nor any Subsidiary has
 entered into any contractual arrangement relating to the offer, sale, distribution or delivery
 of any Shares other than this Agreement, the Hong Kong Underwriting Agreement and the Operative
 Documents. There are no contracts, agreements or understandings entered into by the Company
 or the Subsidiaries or any Single Largest Group of Shareholders in relation to the appointment
 of other capital market intermediaries or fee arrangement arising thereof, other than the
 arrangements already disclosed to the Joint Sponsors, the Joint Global Coordinators and the
 Overall Coordinators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.3 Except as described in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 the Company has not sold, issued or distributed any securities during the six-month period
 preceding the date hereof, including any sales pursuant to Rule 144A, Regulation D or
 Regulation S promulgated under the Securities Act, other than shares issued pursuant to employee
 benefit plans, qualified share option plans or other employee compensation plans or pursuant
 to outstanding options, rights or warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.4 Except as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 there are no contracts, agreements or understandings between the Company and any person granting
 such person the right to require the Company to file a registration statement under the Securities
 Act with respect to any securities of the Company or to require the Company to include such
 securities with the securities registered pursuant to the Registration Statement.

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| | |
|:---|:---|
| **30** | **United States Securities Laws and Related Matters** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.1 The Registration Statement, Preliminary
 Prospectus, Final Prospectus and any free writing prospectus and the filing of the Registration
 Statement, Preliminary Prospectus, Final Prospectus and any Free Writing Prospectus with
 the SEC will be or have been duly authorized by and on behalf of the Company, and the Registration
 Statement will be or have been duly executed pursuant to such authorization by and on behalf
 of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.2 The Company is not an "ineligible
 issuer" in connection with the offering of the Offer Shares pursuant to Rules 164,
 405 and 433 under the Securities Act. Any free writing prospectus that the Company is required
 to file pursuant to Rule 433(d) under the Securities Act has been, or will be,
 filed with the SEC in accordance with the requirements of the Securities Act and the applicable
 rules and regulations of the SEC thereunder. Each free writing prospectus that the Company
 has filed, or is required to file, pursuant to Rule 433(d) under the Securities
 Act or that was prepared by or on behalf of or used or referred to by the Company complies
 or will comply in all material respects with the requirements of the Securities Act and the
 applicable rules and regulations of the SEC thereunder. Any such free writing prospectus,
 as of its issue date and at all subsequent times through the completion of the sale of the
 Offer Shares, did not, does not and will not include any information that conflicted, conflicts
 or will conflict with the information then contained in the Registration Statement, the Time
 of Sale Prospectus or any preliminary or other prospectus deemed to part thereof that has
 not been superseded or modified. Except for the free writing prospectuses, if any, and electronic
 road shows, if any, each furnished to the Representatives before first use, the Company has
 not prepared, used or referred to, and will not, without the Overall Coordinators'
 prior written consent, prepare, use or refer to, any free writing prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.3 All documents incorporated by reference
 in the Registration Statement and the Final Prospectus, when they became effective or were
 filed with the Commission, as the case may be, conformed in all material respects to the
 requirements of the Securities Act or the Exchange Act, as applicable, and the rules and
 regulations of the SEC thereunder, and any further documents so filed and incorporated by
 reference in the Registration Statement and the Final Prospectus or any further amendment
 or supplement thereto, when such documents become effective or are filed with the Commission,
 as the case may be, will conform in all material respects to the requirements of the Securities
 Act or the Exchange Act, as applicable, and the rules and regulations of the SEC thereunder;
 and no such or any other documents were filed with the SEC since the SEC's close of
 business on the business day immediately prior to the date of this Agreement and prior to
 the execution of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.4 The Company is a "well-known seasoned
 issuer" as defined in Rule 405 under the Securities Act at the times specified
 in the Securities Act in connection with the offering of the Offer Shares, eligible to use
 the Registration Statement as an automatic shelf registration statement as defined in Rule 405
 under the Securities Act and the Company has not received notice that the Commission objects
 to the use of the Registration Statement as an automatic shelf registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.5 The Registration Statement is an "automatic
 shelf registration statement," as defined in Rule 405, that initially became effective
 not earlier than three years prior to the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.6 The Company (i) has not alone engaged
 in any Testing-the-Waters Communication other than Testing-the-Waters Communications with
 the consent of the Overall Coordinators with entities that are qualified institutional buyers
 within the meaning of Rule 144A under the Securities Act or institutions that are accredited
 investors within the meaning of Rule 501 under the Securities Act and (ii) has
 not authorized anyone other than the Overall Coordinators to engage in Testing-the-Waters
 Communications. The Company reconfirms that the Overall Coordinators have been authorized
 to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not
 distributed any Written Testing-the-Waters Communication other than those agreed to by the
 Overall Coordinators. "**Written Testing-the-Waters Communication**" means
 any Testing-the-Waters Communication that is a written communication within the meaning of
 Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.7 The statements in the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus under the
 headings "Prospectus Summary," "Prospectus Supplement Summary," "Risk
 Factors," "Use of Proceeds", "Dividend Policy", "Enforceability
 of Civil Liabilities," "Corporate History and Structure," "Management's
 Discussion and Analysis of Financial Condition and Results of Operations," "Business,"
 "Regulations," "Management," "Related Party Transactions,"
 "Description of Share Capital," "Description of American Depositary Shares,"
 "Shares Eligible for Future Sale", "Taxation" and "Underwriting,"
 insofar as such statements summarize legal matters, agreements, documents or proceedings
 discussed therein, are accurate, complete and fair summaries of such matters described therein
 in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.8 The Company is a "foreign private
 issuer" as defined in Rule 405 of the Securities Act and Rule 3b-4 under
 the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.9 The Company believes that it may have been
 a "passive foreign investment company" ("PFIC") for U.S. federal
 income tax purposes for its most recent taxable year. Based on the current and anticipated
 value of the Company's assets and the composition of its income and assets, including
 goodwill (taking into account the expected cash proceeds from, and the Company's anticipated
 market capitalization following, the Global Offering), the Company believes it is likely
 that it may be a PFIC for the current taxable year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.10 The Company is not and, after giving effect
 to the offering and sale of the Offer Shares and the application of the proceeds thereof
 as described in each of the Registration Statement, the Preliminary Prospectus, the Time
 of Sale Prospectus and the Final Prospectus, will not be required to be registered as an
 "investment company" within the meaning of the U.S. Investment Company Act of
 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.11 From the time of initial confidential submission
 of the Registration Statement to the SEC (or, if earlier, the first date on which the Company
 engaged directly or through any person authorized to act on its behalf in any Testing-the-Waters
 Communication undertaken through the date hereof), the Company has been and is an "emerging
 growth company," as defined in Section 2(a) of the Securities Act (an "**Emerging Growth Company** "). "Testing-the-Waters Communication" means any oral
 or written communication with potential investors undertaken in reliance on Section 5(d) of
 the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.12 There are no affiliations or associations
 between any member of FINRA and the Company; there are no affiliations or associations between
 (i) any member of FINRA and (ii) any of the Company's officers, directors
 or 5% or greater security holders or any beneficial owner of the Company's unregistered
 equity securities that were acquired at any time on or after the 180th day immediately preceding
 the date the Registration Statement was initially filed with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.13 The Company is subject to the reporting
 requirements of either Section 13 or Section 15(d) of the Exchange Act and
 timely files reports with the SEC on the Electronic Data Gathering, Analysis, and Retrieval
 (EDGAR) system.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.14 The Registration Statement has become effective;
 no stop order suspending the effectiveness of the Registration Statement is in effect, and
 no proceedings for such purpose or pursuant to Section 8A under the Securities Act are
 pending before or threatened by the SEC.

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| | |
|:---|:---|
| **31** | **Directors, Officers and Shareholders** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.1 Any certificate signed by any director or
 officer of the Warrantors (to the extent applicable) and delivered to the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the Underwriters or any counsel for the Underwriters
 in connection with the Global Offering shall be deemed to be a representation and warranty
 by the Company, as to matters covered thereby, to each Joint Sponsor, Sponsor-OC, Overall
 Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager, CMI and Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.2 Any subscription or purchase of the Offer
 Shares by a Director or his/her associates or existing shareholder of the Company, if conducted,
 has been or will be in accordance with Rules 10.03 and 10.04 of the Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.3 All the interests or short positions of
 each of the Directors in the securities, underlying securities and debentures of the Company
 or any associated corporation (within the meaning of Part XV of the Securities and Futures
 Ordinance) which will be required to be notified to the Company and the Stock Exchange pursuant
 to Part XV of the Securities and Futures Ordinance, or which will be required pursuant
 to section 352 of the Securities and Futures Ordinance to be entered in the register referred
 to therein, or which will be required to be notified to the Company and the Stock Exchange
 pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers in
 the Listing Rules, in each case once the Shares are listed, are fully and accurately disclosed
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.4 The Directors have been duly and validly
 appointed and are the only directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.5 Each of the independent non-executive Directors
 is in compliance with the requirements on independence as imposed by the Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.6 [ *Reserved* ]

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| | |
|:---|:---|
| **32** | **Specialist Technologies and Specialist Technology Products** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.1 The Company meets the definition of a Specialist
 Technology Company (as defined under the Chapter 18C of the Listing Rules and Chapter
 2.5 of the Guide), and is both eligible and suitable for listing as a Commercial Company,
 meeting all the relevant requirements under the Chapter 18C of the Listing Rules and
 Chapter 2.5 of the Guide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.2 All Specialist Technologies (as defined
 under the Listing Rules) engaged in the Specialist Technology Products (as set out in the
 Hong Kong Prospectus) delivered by the Company and the Subsidiaries have been adequately
 described in each of the Registration Statement, the Preliminary Prospectus, the Time of
 Sale Prospectus and the Final Prospectus in accordance with the requirements under an acceptable
 sector of a specialist technology industry (as defined in the Listing Rules and set
 out in the Listing Guide).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.3 Each description of design and development,
 and functions and features, of the Specialist Technology Products, research and development
 activities and capabilities, pipelines and path to profitability contained in each of the
 Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final
 Prospectus is true and accurate and complete in all material aspects.

**Part B: Additional Representations and Warranties of the Single Largest Group of Shareholders**

Each of the Single Largest Group of Shareholders, jointly and severally, represents, warrants and undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the International Underwriters and each of them as follows:

---

| | |
|:---|:---|
| 1 | **Information about the Single Largest Group of Shareholders** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 All the information with respect to the Single
 Largest Group of Shareholders included in the Registration Statement, the Preliminary Prospectus,
 the Time of Sale Prospectus and the Final Prospectus(A) did not contain and will not
 contain any untrue statement of a material fact; and (B) did not omit and will not omit
 to state any material fact necessary in order to make the statements made therein, in the
 light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 All information with respect to the Single
 Largest Group of Shareholders disclosed or made available in writing or orally from time
 to time by or on behalf of the Single Largest Group of Shareholders and/or any of their directors,
 officers, employees, Affiliates and/or agents, to the Joint Sponsors, the Sponsor-OCs, the
 Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the
 Joint Lead Managers and the International Underwriters, any of the legal and other professional
 advisers to the Company or the Underwriters, the Stock Exchange, the SFC, the SEC, and/or
 the CSRC for the purposes of the Global Offering and/or the listing of the Shares on the
 Stock Exchange (including for the purposes of making submissions or applications to, or replying
 to queries or comments raised by, the Stock Exchange, the SFC, the SEC, and/or the CSRC)
 was, when disclosed or made available, and remains, complete, true and accurate in all material
 respects and not misleading, and was disclosed or made available in full and in good faith.

---

| | |
|:---|:---|
| 2 | **Capacity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The Single Largest Group of Shareholders
 have been duly incorporated and are validly existing and in good standing under the Laws
 of their jurisdiction of incorporation or organization (where applicable) with legal right,
 power and authority (corporate and other) to own, use, lease and operate their properties
 and conduct their business in the manner presently conducted and as described in each of
 the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the
 Final Prospectus and are capable of suing and being sued in their own names.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 The Single Largest Group of Shareholders
 have full right, power and authority (corporate and other) to execute, deliver and perform
 this Agreement and each of the Operative Documents to which they are a party.

---

| | |
|:---|:---|
| 3 | **Execution and Authorization** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 This Agreement has been duly authorized,
 executed and delivered by the Single Largest Group of Shareholders and when duly authorized,
 executed and delivered by the other parties to this Agreement or thereto, constitutes a legal,
 valid and binding agreement of the Single Largest Group of Shareholders, enforceable against
 the Single Largest Group of Shareholders in accordance with its terms, subject, as to enforceability,
 to bankruptcy, insolvency, fraudulent transfer, reorganisation, moratorium and similar Laws
 of general applicability relating to or affecting creditors' rights and to general
 equity principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 The execution, delivery and performance of
 this Agreement, the Hong Kong Underwriting Agreement and each of the Operative Documents
 to which the Single Largest Group of Shareholders are a party, the issuance and sale of the
 Offer Shares, the consummation of the transactions herein or therein contemplated, and the
 fulfilment of the terms of this Agreement or of those agreements, do not and will not conflict
 with, or result in a breach or violation of, or constitute a default under (or constitute
 any event which, with notice, lapse of time, fulfilment of any condition and/or compliance
 with any formality, would result in a breach or violation of, constitute a default under,
 or give the holder of any indebtedness (or a person acting on such holder's behalf)
 the right to require the repurchase, redemption or repayment of all or part of such indebtedness
 under): (A) the memorandum and association and articles of association or other organizational
 or constitutional documents of the Single Largest Group of Shareholders; (B) any indenture,
 mortgage, deed of trust, loan or credit agreement or other evidence of indebtedness, or any
 licence, authorization, lease, contract or other agreement or instrument to which the Single
 Largest Group of Shareholders are a party or by which the Single Largest Group of Shareholders
 or any of their properties or assets is or may be bound or affected; (C) any Laws applicable
 to the Single Largest Group of Shareholders or any of their properties or assets, or any
 judgment, order or decree of any Authority having jurisdiction over each Single Largest Group
 of Shareholders; or (D) result in the creation or imposition of any Encumbrance on any
 property or assets of the Single Largest Group of Shareholders.

Annex A-1

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 The Single Largest Group of Shareholders
 are not in breach or violation of or in default under (and no event has occurred which, with
 notice, lapse of time, fulfilment of any condition and/or compliance with any formality,
 would result in a breach or violation of, constitute a default under, or give the holder
 of any indebtedness (or a person acting on such holder's behalf) the right to require
 the repurchase, redemption or repayment of all or part of such indebtedness under) (A) their
 memorandum and association and articles of association or other organizational or constitutional
 documents or their business license; (B) any indenture, mortgage, deed of trust, loan
 or credit agreement or other evidence of indebtedness, or any licence, lease, contract or
 other agreement or instrument to which they are a party or by which they or any of their
 properties or assets are or may be bound or affected; or (C) any Laws applicable to
 them or any of their properties or assets, with such exceptions in the case of (B) and
 (C) as could not reasonably be expected, individually or in the aggregate, to result
 in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Except for the final approval from the Stock
 Exchange for the listing of, and permission to deal in, the Shares on the Main Board of the
 Stock Exchange, all Governmental Authorizations under any Laws applicable to, or from or
 with any Authority having jurisdiction over, the Single Largest Group of Shareholders or
 any of their properties or assets, or otherwise from or with any other persons, required
 in connection with the performance by the Single Largest Group of Shareholders of their obligations
 under and the consummation of the transactions contemplated by this Agreement, the Hong Kong
 Underwriting Agreement, the Operative Documents and each of the agreements relating to the
 Global Offering, have been obtained or made and are in full force and effect, and to the
 best of the Single Largest Group of Shareholders' knowledge, there is no reason to
 believe that any such Governmental Authorizations may be revoked, suspended or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 Except as disclosed in each of the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus,
 or any individual Supplemental Offering Material, (A) there are no Actions or enquiries
 under any Laws or by or before any Authority pending or, to the best of the Single Largest
 Group of Shareholders' knowledge, threatened, to which the Single Largest Group of
 Shareholders are or may be a party or to which any of their properties or assets is or may
 be subject, at law or in equity; (B) there is no Law that has been enacted, adopted
 or issued that has been proposed by any Authority and there is no judgment, decree or order
 of any Authority, which would, or could reasonably be expected to, materially and adversely
 affect the power or ability of such Single Largest Group of Shareholders to perform their
 obligations under this Agreement, or to consummate the transactions contemplated by this
 Agreement or otherwise materially and adversely affect the Global Offering.

Annex A-2

---

| | |
|:---|:---|
| 4 | **Compliance with Laws** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Neither the Single Largest Group of Shareholders,
 their respective directors, officers, or employees, or, to the knowledge of the Single Largest
 Group of Shareholders, any agents, affiliates, representatives or other person acting on
 behalf of the Single Largest Group of Shareholders or their respective affiliates (collectively,
 the "**Shareholder Relevant Persons**") is aware of or has, directly or indirectly,
 made or authorised (A) the payment of any money or the giving of anything of value to
 any Government Official or to any person under circumstances where a Shareholder Relevant
 Person knew or was aware of a high probability that all or a portion of such money or thing
 of value would be offered, given or promised, directly or indirectly, to any Government Official,
 where either the payment, the contribution or the gift, or the purpose thereof, was, is,
 or would be prohibited under any applicable anti-corruption Laws; (B) used any funds
 for any unlawful contribution, gift, entertainment or other unlawful expense relating to
 political activity; or (C) made, offered, agreed, requested or taken an act in furtherance
 of any bribe or other unlawful benefit, rebate, payoff, influence payment, kickback or other
 unlawful or improper payment or benefit; without prejudice to the foregoing, none of Shareholder
 Relevant Persons has violated or is in violation of Anti-Corruption Laws; and the Single
 Largest Group of Shareholders and their Affiliates have conducted their businesses in compliance
 with Anti-Corruption Laws and have instituted, maintained and enforced, and will continue
 to maintain and enforce, policies and procedures designed to promote and achieve continued
 compliance with such laws and with the representations and warranties contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 The operations and conducts (as applicable)
 of the Single Largest Group of Shareholders are and have been conducted at all times in compliance
 with applicable financial recordkeeping and reporting requirements, including but not limited
 to those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
 America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
 2001 (USA PATRIOT Act), the United States Currency and Foreign Transactions Reporting Act
 of 1970, as amended, the applicable Money Laundering Laws of all jurisdictions where the
 Single Largest Group of Shareholders conduct business, and no action, suit, proceeding, investigation
 or inquiry by or before any Authority involving the Single Largest Group of Shareholders
 with respect to the Anti-Money Laundering Laws is pending or, to the best of the knowledge
 of the Single Largest Group of Shareholders, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 None of the Shareholder Relevant Person,
 is currently subject to or target of any Sanctions Laws and Regulations, nor is the Single
 Largest Group of Shareholders located, organized or resident in a country, region or territory
 that is the subject or the target of Sanctions Laws and Regulations, including, without limitation,
 any Sanctioned Country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The Single Largest Group of Shareholders
 will cause the Company not to directly or indirectly use the proceeds, or lend, contribute
 or otherwise make available such proceeds to any Subsidiary, joint venture partner or other
 Person or entity (i) for the purpose of financing or facilitating any activities or
 business of or with any Person that is subject to or the target of Sanctions Laws and Regulations,
 or of, with or in the Sanctioned Countries, or any country, region or territory that is targeted
 by or subject to any Sanctions Laws and Regulations, at the time of such funding or facilitation,
 or (ii) in any other manner that will result in a violation (including by any person
 or entity participating in the sale of the Offer Shares, whether as underwriter, advisor,
 investor or otherwise) of any of the Sanctions Laws and Regulations.

Annex A-3

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Since April 24, 2019, the Single Largest
 Group of Shareholders have not knowingly engaged in and are not now knowingly engaged in
 any dealings or transactions directly or indirectly with any Person, or in any country, region
 or territory, that at the time of the dealing or transaction is or was, or whose government
 was, the subject or target of a Sanctions Laws and Regulations or any entity owned or controlled
 by a Person who is the target of the Sanctions Laws and Regulations, or with any Sanctioned
 Country, or that would result in a violation of Sanctions Laws and Regulations by any Person
 (including any Person participating in the offering of the Offer Shares).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 There are (A) (i) no legal, arbitral
 or governmental actions, proceedings, investigations or inquires pending or threatened or
 contemplated by or before any Authority, to which the Single Largest Group of Shareholders
 or any of their subsidiaries, or any of their respective directors, supervisors (if any),
 officers, employees or Affiliates, is or may be a party or to which any properties, assets,
 products or services of the Single Largest Group of Shareholders or any of their subsidiaries,
 or any of their respective directors, supervisors (if any) or officers, is or may be subject,
 (ii) no Laws that have been enacted, adopted or issued or proposed by any Authority,
 and (iii) no judgments, decrees, orders proceedings, investigations or inquiries of
 any Authority, which, in any of clause (i), (ii) or (iii), would or could reasonably
 be expected to, individually or in the aggregate, have a Material Adverse Effect, or adversely
 affect the power or ability of the Single Largest Group of Shareholders to perform their
 obligations under the Hong Kong Underwriting Agreement, this International Underwriting Agreement
 and the Operative Documents, to offer, sell and deliver the Offer Shares or to consummate
 the transactions contemplated by this Agreement, the Hong Kong Underwriting Agreement and
 the Operative Documents or otherwise adversely affect the Global Offering, or which are required
 to be described in the Registration Statement, the Preliminary Prospectus, the Time of Sale
 Prospectus and the Final Prospectus and are not so described; and (B) none of the Single
 Largest Group of Shareholders or any of their subsidiaries which is a party to a joint venture
 or shareholders' agreement is in dispute with the other parties to such joint venture
 or shareholders' agreement and there are no circumstances which may give rise to any
 dispute or affect the relevant member's relationship with such other parties.

---

| | |
|:---|:---|
| 5 | **Connected Transactions** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 In respect of the connected transactions
 (as defined in the Listing Rules) of the Company (the "Connected Transactions"),
 (A) the Connected Transactions disclosed in each of the Registration Statement, the
 Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus have been entered
 into and carried out, and will be carried out, in the ordinary course of business and on
 commercial terms and are fair and reasonable and in the interests of the Company and the
 shareholders of the Company as a whole; and (B) the Connected Transactions as disclosed
 in each of the Registration Statement, the Preliminary Prospectus, the Time of Sale Prospectus
 and the Final Prospectus has been duly authorized, executed and delivered, constitutes a
 legal, valid and binding agreement or undertaking of the parties thereto, enforceable in
 accordance with its terms, and in full force and effect.

---

| | |
|:---|:---|
| 6 | **Immunity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Under the Laws of the Cayman Islands, British
 Virgin Islands, PRC, Hong Kong and the United States, none of the Single Largest Group of
 Shareholders, their subsidiaries, nor any of their respective properties, assets or revenues,
 is entitled to any right of immunity on the grounds of sovereignty or crown status or otherwise
 from any action, suit or proceeding, from set-off or counterclaim, from the jurisdiction
 of any court or arbitral tribunal, from service of process, from attachment to or in aid
 of execution of a judgment, arbitral award or from other action, suit or proceeding for the
 giving of any relief or for the enforcement of any judgment or arbitral award; and the irrevocable
 and unconditional waiver and agreement of the Single Largest Group of Shareholders in Clause
 16 hereof not to plead or claim any such immunity in any action, suit or proceeding arising
 out of or based on this Agreement or the Hong Kong Underwriting Agreement or the transactions
 contemplated hereby and thereby is legal, valid and binding under the Laws of the Cayman
 Islands, British Virgin Islands, Hong Kong, the PRC and the United States.

Annex A-4

---

| | |
|:---|:---|
| 7 | **Winding-Up** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 Neither the Single Largest Group of Shareholders
 nor any person acting on their behalf have taken any action nor have any steps been taken
 or legal, legislative or administrative proceedings been started, threatened or contemplated
 or judgment been rendered to (A) wind up, make bankrupt, dissolve, deregister, liquidate,
 make dormant, or eliminate the Single Largest Group of Shareholders; or (B) withdraw,
 revoke or cancel any Governmental Authorizations under any Laws applicable to, or from or
 with any Authority having jurisdiction over, the Single Largest Group of Shareholders or
 any of their respective properties or assets, required in order to conduct the business of
 the Single Largest Group of Shareholders. The Single Largest Group of Shareholders have not
 made any voluntary arrangement with any of its creditors and is not insolvent or unable to
 pay its debts as they fall due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 The Single Largest Group of Shareholders
 have not, at any time during the six-month period immediately prior to the completion of
 the Global Offering, sold, transferred or conducted any private placement of the Shares of
 the Company held by, or otherwise beneficially owned by the Single Largest Group of Shareholders.

Annex A-5

**Schedule IV**

**WERIDE INC.**

**ACCOUNT INFORMATION**

**Exhibit A**

**Officers' Certificate of the Company**

**Exhibit B**

**OFFICERS' CERTIFICATE OF THE COMPANY REGARDING FINANCIAL, OPERATIONAL AND BUSINESS DATA**

**Exhibit C**

**Secretaries' Certificate**

**Exhibit D**

**Certificate of the Single Largest Group of Shareholders**

**Exhibit E**

**Over-Allotment Option Exercise Notice**

## Exhibit 1.2

**Exhibit 1.2**

**Execution Version**

**October 27, 2025**

**WERIDE INC.**

**XU HAN**

**TONYHAN LIMITED**

**XU HAN LIMITED**

**CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LIMITED**

**MORGAN STANLEY ASIA LIMITED**

**J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED**

**and**

**THE HONG KONG UNDERWRITERS**

**(named in Schedule 1)**

**HONG KONG UNDERWRITING <br> AGREEMENT<br> relating to the Hong Kong Public Offering of<br> 4,412,500 Class A Ordinary Shares of par<br> value of US$0.00001 each in the Company**

![](tm2530110d1_ex1-2img001.jpg)

18th Floor, One Exchange Square<br> 8 Connaught Place, Central<br> Hong Kong

**TABLE OF CONTENTS**

**Page**

---

| | | |
|:---|:---|:---|
| **1** | **DEFINITIONS AND INTERPRETATION** | **3** |
| **2** | **CONDITIONS** | **17** |
| **3** | **APPOINTMENTS** | **20** |
| **4** | **HONG KONG PUBLIC OFFERING** | **26** |
| **5** | **ALLOTMENT AND PAYMENT** | **31** |
| **6** | **STABILIZATION** | **34** |
| **7** | **COMMISSIONS AND COSTS** | **35** |
| **8** | **REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS** | **39** |
| **9** | **INDEMNITY** | **42** |
| **10** | **FURTHER UNDERTAKINGS** | **47** |
| **11** | **TERMINATION** | **53** |
| **12** | **RESTRICTION ON ISSUE OR DISPOSAL OF SECURITIES** | **58** |
| **13** | **ANNOUNCEMENTS** | **61** |
| **14** | **ALLOCATION OF SHARES, FREE FLOAT AND OFFER SIZE** | **61** |
| **15** | **UNDERTAKINGS BY A COMMERCIAL COMPANY UNDER CHAPTER 18C OF THE LISTING RULES** | **62** |
| **16** | **CONFIDENTIALITY** | **62** |
| **17** | **NOTICES** | **63** |
| **18** | **GOVERNING LAW, DISPUTE RESOLUTION AND WAIVER OF IMMUNITY** | **65** |
| **19** | **MISCELLANEOUS** | **67** |

---

---

| | |
|:---|:---|
| **SCHEDULE 1 THE HONG KONG UNDERWRITERS** | **72** |
| **SCHEDULE 2 THE WARRANTIES** | **74** |
| **SCHEDULE 3 CONDITIONS PRECEDENT DOCUMENTS** | **120** |
| **SCHEDULE 4 SET-OFF ARRANGEMENTS** | **126** |
| **SCHEDULE 5 Formal Notice** | **127** |
| **SCHEDULE 6 PROFESSIONAL INVESTOR TREATMENT NOTICE** | **128** |

---

i

**THIS AGREEMENT** is made on October 27, 2025

**BETWEEN:**

(1) **WERIDE INC.**, an exempted company incorporated
 in the Cayman Islands with limited liability on March 13, 2017, having its registered
 address at P.O. Box 472, Harbour Place, 2nd Floor, 103 South Church Street, George Town,
 Grand Cayman KY1-1106, Cayman Islands (the "**Company** ");

(2) **XU HAN,** of Building C1, Guangzhou BioIsland
 International Apartment, No. 96, Xingdaohuan South Road Guangzhou International Biotech
 Island, Guangzhou, Guangdong Province, the PRC ()"**Dr. HAN** ");

(3) **TONYHAN LIMITED**, a company incorporated
 in the BVI with limited liability on May 10, 2017, having its registered address at
 the office of Harkom Corporate Services Limited of Jayla Place, P.O. Box 216, Road Town,
 Tortola, VG1110, British Virgin Islands (the "**THL** ");

(4) **XU HAN LIMITED**, company incorporated
 in the BVI with limited liability on June 22, 2022, having its registered address at
 the office of Harkom Corporate Services Limited of Jayla Place, P.O. Box 216, Road Town,
 Tortola, VG1110, British Virgin Islands (the "**XHL** ");

(5) **CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LIMITED,** of 29/F One International Finance Centre, 1 Harbour View
 Street, Central, Hong Kong ()"**CICC** ");

(6) **MORGAN STANLEY ASIA LIMITED,** of Level
 46, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong ()"**MS** ");

**(7)** **J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED,** of 28/F, Chater House, 8 Connaught Road Central, Hong Kong ()"**J.P. Morgan** ");
 and

(1) **THE HONG KONG UNDERWRITERS** whose names
 and addresses are set out in Schedule 1 (the "**Hong Kong Underwriters** ").

**RECITALS:**

(A) The Company is an exempted company incorporated
 in the Cayman Islands with limited liability on March 13, 2017 under the laws of Cayman
 Islands, and is registered in Hong Kong as a non-Hong Kong company under Part 16 of
 the Companies Ordinance on March 31, 2025. As of the date hereof, the Company has an
 authorized share capital of US$50,000 divided into 4,500,000,000 Class A Ordinary Shares
 of par value US$0.00001 each and 500,000,000 Class B Ordinary Shares of par value US$0.00001
 each.

(B) As at the date of this Agreement, Dr. Han,
 through XHL and THL, was interested in 41,249,590 Class B Ordinary Shares. Immediately
 following the completion of the Global Offering (assuming that the Over-allotment Option
 is not exercised and no further Class A Ordinary Shares are allotted and issued under
 the 2018 Share Plan), Dr. Han, through XHL and THL, will be entitled to exercise the
 voting rights attaching to approximately (i) 7.98% of the total issued share capital
 of the Company, (ii) 70.15% of the voting rights in the Company with respect to Shareholder
 resolutions relating to matters other than the Reserved Matters on the basis that each Class A
 Ordinary Share entitles the holder to exercise one vote and each Class B Ordinary Share
 entitles the holder to exercise forty votes, (iii) 7.98% of the voting rights in the
 Company with respect to Shareholder resolutions relating to the Reserved Matters on the basis
 that each Share entitles the holder to exercise one vote, and (iv) 37.85% of the voting
 rights in the Company with respect to Shareholder resolutions relating to matters other than
 the Reserved Matters on the basis that each Class A Ordinary Share entitles the holder
 to exercise one vote and assuming that the exercise of voting right attached to each Class B
 Ordinary Share will be capped at ten votes.

(B) The Company is proposing to obtain a listing
 for its Class A Ordinary Shares on the Stock Exchange by way of a Global Offering comprising:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Hong Kong Public Offering (as defined
 herein), comprising an offer for subscription of the Hong Kong Offer Shares, in respect of
 which this Agreement is being entered into; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) International Offering (as defined herein),
 pursuant to the registration statement on Form F-1, as amended, that to be filed with
 the SEC on or around October 28, 2025, including the preliminary prospectus dated October 28,
 2025 and the final prospectus to be filed with the SEC on or about November 4, 2025,
 or pursuant to the shelf registration statement on Form F-3 that to be filed with the
 SEC on November 3, 2025, the preliminary prospectus supplement to be filed on or about
 November 3, 2025 and the final prospectus supplement to be filed with the SEC on or
 about November 4, 2025.

(C) CICC and MS have been appointed as the Joint
 Sponsors. CICC and MS have been appointed as the Sponsor-OCs. CICC, MS and J.P. Morgan have
 been appointed as the Overall Coordinators and Joint Global Coordinators in connection with
 the Global Offering.

(D) The Joint Sponsors have made an application
 on behalf of the Company to the Listing Committee of the Stock Exchange for the listing on
 the Main Board of, and permission to deal on the Main Board in, the Class A Ordinary
 Shares in issue and to be issued pursuant to the Global Offering (including Class A
 Ordinary Shares which may be issued pursuant to the Over-allotment Option), the Class A
 Ordinary Shares to be issued pursuant to the 2018 Share Plan and the Class A Ordinary
 Shares to be issued after the conversion of the Class B Ordinary Shares into Class A
 Ordinary Shares on a one to one basis.

(E) The Hong Kong Underwriters have agreed to
 severally, but not jointly or jointly and severally, underwrite the Hong Kong Public Offering
 upon and subject to the terms and conditions of this Agreement.

(F) Each of the Warrantors has agreed to give
 irrevocably the representations, warranties, undertakings and indemnities set out herein
 in favor of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global
 Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong
 Underwriters.

(G) The Company has appointed International Corporation
 Services Ltd. to act as its principal share registrar and transfer agent in the Cayman Islands
 and Computershare Hong Kong Investor Services Limited to act as the Share Registrar.

(H) The Company has appointed CMB Wing Lung Bank
 Limited as the Receiving Bank for the Hong Kong Public Offering and CMB Wing Lung (Nominees)
 Limited as the Nominee to hold the application monies under the Hong Kong Public Offering.

(I) In connection with the Global Offering, the
 Company has obtained the approval granted by the CSRC on September 24, 2025, authorizing
 the Company to proceed with the Global Offering and the listing of the Class A Ordinary
 Shares on the Main Board of the Stock Exchange.

(J) The Company, the Single Largest Group of Shareholders,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators and the International
 Underwriters intend to enter into the International Underwriting Agreement providing for
 the underwriting of the International Offering by the International Underwriters subject
 to the terms and conditions set out therein.

(K) The Company is expected to grant to the International
 Underwriters the Over-allotment Option, exercisable by the Overall Coordinators (for themselves
 and on behalf of the International Underwriters), at their sole and absolute discretion,
 to require the Company to allot and issue up to an aggregate of 88,250,000 additional Offer
 Shares, representing not more than 15% of the total number of Offer Shares initially available
 under the Global Offering, at the International Offer Price under the International Offering
 to cover over-allocations (if any) in the International Offering, subject to and on the terms
 of the International Underwriting Agreement. It is expected that Humber Partners Limited
 and/or Yanli Holdings Limited will enter into a Stock Borrowing Agreement with CICC.

(L) At a meeting of the Board held on October 21,
 2025, resolutions were passed pursuant to which, *inter alia*, the Board has approved,
 and any executive director of the Company was authorized to sign on behalf of the Company,
 this Agreement and all the other relevant documents in connection with the Global Offering.

**NOW IT IS HEREBY AGREED** as follows:

---

| | |
|:---|:---|
| **1** | **DEFINITIONS AND INTERPRETATION** |

---

1.1 **Introduction:** Except where the context
 otherwise requires, in this Agreement, including the Recitals and the Schedules, the following
 words and expressions shall have the respective meanings set out below:

"**2018 Share Plan**" means the 2018 share plan adopted by the Company in June 2018 and amended and restated in July 2024, a summary of which is set out in "Statutory and General Information — D. 2018 Share Plan" in Appendix IV to the Hong Kong Prospectus;

"**Acceptance Date**" means November 3, 2025, being the date on which the Application Lists close in accordance with Clause 4.4;

"**Accepted Hong Kong Public Offering Applications**" means the Hong Kong Public Offering Applications which are from time to time accepted in whole or in part pursuant to Clause 4.5;

"**Admission**" means the grant or agreement to grant by the Listing Committee of the Stock Exchange of the listing on the Main Board of, and permission to deal on the Main Board in the Class A Ordinary Shares in issue and to be issued pursuant to the Global Offering (including any additional Class A Ordinary Shares to be issued pursuant to the exercise, whether fully or partially, of the Over-allotment Option), any additional Shares to be issued pursuant to the 2018 Share Plan and the Class A Ordinary Shares to be issued after the conversion of the Class B Ordinary Shares into Class A Ordinary Shares on a one to one basis;

"**ADS(s)**" means American Depositary Shares (each represents three Class A Ordinary Shares);

"**Affiliates**" means, in relation to any person, any other person which is the holding company of such person, or which is a subsidiary or branch, or any subsidiary or branch of the holding company of such person, or which directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, such person. For the purposes of the foregoing, "**control**" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms "**controlling**", "**controlled by**" and "**under common control with**" shall be construed accordingly;

"**AFRC**" means the Accounting and Financial Reporting Council of Hong Kong;

"**AFRC Transaction Levy**" means the transaction levy at the rate of 0.00015% of the Hong Kong Offer Price in respect of the Hong Kong Offer Shares and of the International Offer Price in respect of the International Offer Shares (as the case may be), imposed by the AFRC;

"**Announcement Date**" means the date on which details of the basis of allocation of the Hong Kong Public Offering to successful applicants under the Hong Kong Public Offering are published in Hong Kong in accordance with the Hong Kong Prospectus, which is currently expected to be November 4, 2025;

"**Application Lists**" means the application lists in respect of the Hong Kong Public Offering referred to in Clause 4.4;

"**Application Proof**" means the application proof of the Hong Kong Prospectus submitted to the Stock Exchange on February 13 and August 14, 2025;

"**Approvals and Filings**" means all approvals, sanctions, consents, permissions, certificates, authorizations, licenses, permits, clearances, orders, concessions, qualifications, registrations, declarations and franchises from any person, and filings and registrations with any person, of any relevant jurisdictions, including, without limitation, the United States, Hong Kong, the PRC and Cayman Islands;

"**Articles of Association**" means the articles of association of the Company as amended, supplemented or otherwise modified from time to time;

"**Associate**" or "**Close Associate**" has the meaning given to it in the Listing Rules;

"**Authority**" means any administrative, governmental, legislative or regulatory commission, board, body, authority or agency, or any stock exchange, self-regulatory organization or other non-governmental regulatory authority, or any court, tribunal or arbitrator, in each case whether national, central, federal, provincial, state, regional, municipal, local, domestic, foreign or supranational, including, without limitation, the CSRC, the Stock Exchange and the SFC;

"**Board**" means the board of directors of the Company;

"**Brokerage**" means the brokerage at the rate of 1.0% of the Hong Kong Offer Price in respect of the Hong Kong Offer Shares or 1.0% of the International Offer Price in respect of the International Offer Shares (as the case may be);

"**Business Day**" means any day (other than a Saturday, Sunday or public holiday in Hong Kong) on which banks in Hong Kong are open for general banking business and on which the Stock Exchange is open for business of dealing in securities;

**"BVI"** means British Virgin Islands;

"**CCASS**" means the Central Clearing and Settlement System established and operated by HKSCC;

"**Class A Ordinary Shares**" means class A ordinary shares in the share capital of the Company, with a par value of US$0.00001 each, conferring a holder of a class A ordinary share one vote per share on any resolutions tabled at the Company's general meetings;

"**Class B Ordinary Shares**" means class B ordinary shares in the share capital of the Company, with a par value of US$0.00001 each, conferring a holder of a class B ordinary share currently forty (40) votes per share (and ten (10) votes per Share after amendment of the Articles of Association in the Post-Listing GM) on any resolutions tabled at the Company's general meetings, save for resolutions with respect to any Reserved Matters, in which case they shall be entitled to one vote per Share;

"**CMI Engagement Letters**" means the respective engagement letters in respect of the Global Offering entered into between the respective CMIs and the Company;

"**CMIs**" means CICC, MS, J.P. Morgan, BOCI Asia Limited, Futu Securities International (Hong Kong) Limited, Daiwa Capital Markets Hong Kong Limited, ABCI Capital Limited, ABCI Securities Company Limited and ICBC International Securities Limited, being the capital market intermediaries of the Global Offering ;

"**Code of Conduct**" means the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission, as amended, supplemented or otherwise modified from time to time;

"**Commercial Company**" means a Specialist Technology Company that has met the revenue requirement as set out in Rule 18C.03(4) of the Listing Rules at the time of listing;

"**Companies Ordinance**" means the Companies Ordinance (Chapter 622 of the Laws of Hong Kong), as amended, supplemented or otherwise modified from time to time;

"**Companies (Winding up and Miscellaneous Provisions) Ordinance**" means the Companies (Winding up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong), as amended, supplemented or otherwise modified from time to time;

"**Company's Cayman Counsel**" means Travers Thorp Alberga, being the Company's legal advisers on Cayman Islands law, of 3605 Tower Two, Lippo Centre, 89 Queensway, Admiralty, Hong Kong;

"**Company's HK & US Counsel**" means Cooley HK, being the Company's legal advisers on Hong Kong and US law, of 35/F, Two Exchange Square, 8 Connaught Place, Central, Hong Kong;

"**Company's PRC Counsel**" means Commerce & Finance Law Offices, being the Company's legal advisers on PRC law, of 10/F, Tower 1, Jing An Kerry Centre 1515 West Nanjing Road, Jing'an District, Shanghai, PRC;

"**Compliance Adviser**" means Rainbow Capital (HK) Limited, of Office No. 710, 7/F, Wing On House, 71 Des Voeux Road Central, Central, Hong Kong;

"**Compliance Adviser Agreement**" means the agreement entered into between the Company and the Compliance Adviser on February 10, 2025, appointing the Compliance Adviser to provide continuing compliance advice to the Company as stipulated therein and as required under the Listing Rules;

"**Conditions**" means the conditions precedent set out in Clause 2.1;

"**Conditions Precedent Documents**" means the documents listed in Parts A and B of Schedule 3;

"**Connected Person**" has the meaning given to it in the Listing Rules;

"**Contracts (Rights of Third Parties) Ordinance**" means the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the laws of Hong Kong), as amended, supplemented or otherwise modified from time to time;

**"CSRC"** means the China Securities Regulatory Commission;

**"CSRC Archive Rules"** means the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (關於加強境內企業境外發行證券和上市相關保密和檔案管理工作的規定) issued by the CSRC, the Ministry of Finance of the PRC, the National Administration of State Secrets Protection of the PRC, and the National Archives Administration of the PRC (effective from March 31, 2023), as amended, supplemented or otherwise modified from time to time;

**"CSRC Filing Report"** means the filing report of the Company in relation to the Global Offering, initially submitted to the CSRC on February 14, 2025 pursuant to Article 13 of the CSRC Filing Rules, including any amendments, supplements and/or modifications thereof;

"**CSRC Filing Rules**" means the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (境內企業境外發行證券和上市管理試行辦法) and supporting guidelines issued by the CSRC (effective from March 31, 2023), as amended, supplemented or otherwise modified from time to time;

**"CSRC Filing(s)"** means any letters, filings, correspondences, communications, documents, responses, undertakings and submissions in any form, including any amendments, supplements and/or modifications thereof, made or to be made to the CSRC, relating to or in connection with the Global Offering pursuant to the CSRC Filing Rules and other applicable rules and requirements of the CSRC (including, without limitation, the CSRC Filing Report);

**"CSRC Rules"** means the CSRC Filing Rules and the CSRC Archive Rules;

"**Depositary**" has the meaning ascribed to it in the International Underwriting Agreement;

"**Directors**" means the directors of the Company whose names are set out in the section headed "Directors and Senior Management" in the Hong Kong Prospectus;

"**Disputes**" has the meaning ascribed to it in Clause 18.2;

"**Encumbrance**" means any mortgage, charge, pledge, lien, option, restriction, right of first refusal, equitable right, power of sale, hypothecation, retention of title, right of pre-emption or other third party claim, defect, right, interest or preference granted to any third party, or any other encumbrance or security interest of any kind, or an agreement, arrangement or obligation to create any of the foregoing;

"**Exchange Act**" means the United States Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder;

"**Final Prospectus**" has the meaning ascribed to it in the International Underwriting Agreement;

"**FINRA**" means the Financial Industry Regulatory Authority, Inc.;

"**FINI**" means the "Fast Interface for New Issuance", an online platform operated by the HKSCC that is mandatory for admission to trading and, where applicable, the collection and processing of specified information on subscription in and settlement of all new listings;

"**FINI Agreement**" means the FINI agreement dated October 3, 2025 and entered into between the Company and HKSCC;

"**Formal Notice**" means the press announcement substantially in the agreed form to be issued in connection with the Hong Kong Public Offering pursuant to the Listing Rules, as amended, supplemented or otherwise modified from time to time;

"**Global Offering**" means the Hong Kong Public Offering and the International Offering;

"**Group**" means the Company and its Subsidiaries from time to time;

"**Group Company**" means a member of the Group;

"**Guide**" means the Guide for New Listing Applicants issued by the Stock Exchange in May 2024, as amended from time to time;

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

"**HKSCC**" means Hong Kong Securities Clearing Company Limited;

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

"**Hong Kong Offer Price**" means the final price per Offer Share (exclusive of Brokerage, Trading Fee, SFC Transaction Levy and AFRC Transaction Levy) at which the Hong Kong Offer Shares are to be subscribed under the Global Offering;

"**Hong Kong Offer Shares**" means the 4,412,500 Class A Ordinary Shares being initially offered by the Company for subscription under the Hong Kong Public Offering, subject to adjustment and reallocation as provided in Clauses 2.7, 4.11 and 4.12;

"**Hong Kong Prospectus**" means the prospectus in the agreed form to be issued by the Company in connection with the Hong Kong Public Offering, and all amendments or supplements thereto;

"**Hong Kong Prospectus Date**" means the date of issue of the Hong Kong Prospectus, which is expected to be on or about October 28, 2025;

"**Hong Kong Public Offering**" means the offer of the Hong Kong Offer Shares at the Hong Kong Offer Price for subscription by the public in Hong Kong on and subject to the terms and conditions of this Agreement and the Hong Kong Public Offering Documents;

"**Hong Kong Public Offering Applications**" means applications to subscribe for Hong Kong Offer Shares made online through the White Form eIPO Service or through HKSCC EIPO service to electronically cause HKSCC Nominee Limited to apply on an applicant's behalf and otherwise made in compliance with the terms and conditions of the Hong Kong Public Offering Documents, including, for the avoidance of doubt, Hong Kong Underwriter's Applications;

"**Hong Kong Public Offering Documents**" means the Hong Kong Prospectus and the Formal Notice;

"**Hong Kong Underwriters**" means the underwriters whose names and addresses are set out in Schedule 1;

"**Hong Kong Underwriting Commitment**" means, in relation to any Hong Kong Underwriter, the maximum number of Hong Kong Offer Shares which such Hong Kong Underwriter has agreed to procure applications to purchase, or failing which itself as principal apply to purchase, pursuant to the terms of this Agreement, being such number calculated by applying the percentage set forth opposite to its name in Schedule 1 to the aggregate number of Hong Kong Offer Shares, subject to adjustment and reallocation as provided in Clauses 2.7, 4.9, 4.11 and 4.12, as applicable, but in any event not exceeding the maximum number of Hong Kong Offer Shares as set out in Schedule 1;

"**Hong Kong Underwriter's Application**" means, in relation to any Hong Kong Underwriter, a Hong Kong Public Offering Application made or procured to be made by such Hong Kong Underwriter as provided in Clause 4.7 which is applied to reduce the Hong Kong Underwriting Commitment of such Hong Kong Underwriter pursuant to Clause 4.7;

"**Incentive Fee**" has the meaning ascribed to it in Clause 7.2;

"**Indemnified Parties**" means the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers, and the Hong Kong Underwriters and each of their respective Affiliates and delegates under Clause 3.8, as well as the respective representatives, directors, officers, employees, assignees and agents of each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers, and the Hong Kong Underwriters and of each of their respective Affiliates;

"**Indemnifying Parties**" means the Warrantors and "**Indemnifying Party**" means any one of them;

"**Industry Consultant**" means China Insights Industry Consultancy Limited, being the Company's industry consultant, of 10F, Block B, Jing'an International Center, 99 Puji Road, Jing'an District, Shanghai, PRC;

"**Intellectual Property**" means letters patent, trademarks (both registered and unregistered), service marks (both registered and unregistered), registered designs, trade or service names, domain names, software, utility models, applications for any of the foregoing and the right to apply for any of the foregoing in any part of the world, copyright, inventions, confidential information, know-how (including, without limitation, trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or processes), business names and any similar rights situated in any part of the world, and the benefit (subject to the burden) of any and all licenses in connection with any of the foregoing;

"**Internal Control Consultant**" means internal control consultant appointed by the Company to conduct internal control review in anticipation of the Global Offering;

"**International Offer Price**" means the final price per Offer Share (exclusive of Brokerage, Trading Fee, SFC Transaction Levy and AFRC Transaction Levy) at which the International Offer Shares are to be subscribed under the Global Offering;

"**International Offer Shares**" means the 83,837,500 Class A Ordinary Shares to be initially offered to investors at the International Offer Price under the International Offering for subscription, subject to adjustment and reallocation in accordance with the International Underwriting Agreement, together (where applicable) with any additional Offer Shares to be issued pursuant to the exercise of the Over-allotment Option;

"**International Offering**" means offering through the International Underwriters or their respective affiliates of the International Offer Shares at the International Offer Price pursuant to the registration statement on Form F-1, as amended, that to be filed with the SEC on or around October 28, 2025, including the preliminary prospectus dated October 28, 2025 and the final prospectus to be filed with the SEC on or about November 4, 2025, or pursuant to the shelf registration statement on Form F-3 that to be filed with the SEC on November 3, 2025, the preliminary prospectus supplement to be filed on or about November 3, 2025 and the final prospectus supplement to be filed with the SEC on or about November 4, 2025, upon and subject to the terms and conditions of the International Underwriting Agreement and the Final Prospectus;

"**International Offering Purchasing Commitment**" means, in relation to any International Underwriter, the maximum number of International Offer Shares in respect of which such International Underwriter has agreed to procure placees, or failing which itself as principal to purchase, pursuant to the terms of the International Underwriting Agreement, subject to adjustment and reallocation in accordance with the International Underwriting Agreement and subject to the Over-allotment Option;

"**International Underwriters**" means the underwriters of the International Offering named as such in the International Underwriting Agreement;

"**International Underwriting Agreement**" means the international underwriting agreement relating to the International Offering expected to be entered into between, among others, the Company, the Single Largest Group of Shareholders, the Sponsor-OCs, the Overall Coordinators and the International Underwriters on or around the Price Determination Date;

"**Investor Presentation Materials**" means all information, materials and documents used, issued, given or presented in any of the investor presentations, roadshow presentations and/or non-deal roadshow presentations conducted by or on behalf of the Company in connection with the Global Offering;

"**Issuer Free Writing Prospectus**" means any "issuer free writing prospectus", as defined in Rule 433 under the Securities Act, relating to the Offer Shares;

"**Joint Bookrunners**" means CICC, MS, JP. Morgan, BOCI Asia Limited, Futu Securities International (Hong Kong) Limited, Daiwa Capital Markets Hong Kong Limited, ABCI Capital Limited and ICBC International Securities Limited, being the joint bookrunners to the Global Offering;

"**Joint Global Coordinators**" means CICC, MS and JP. Morgan, being the joint global coordinators to the Global Offering;

"**Joint Lead Managers**" means CICC, MS, JP. Morgan, BOCI Asia Limited, Futu Securities International (Hong Kong) Limited, Daiwa Capital Markets Hong Kong Limited, ABCI Securities Company Limited and ICBC International Securities Limited, being the joint lead managers to the Global Offering;

"**Joint Sponsors**" means CICC and MS, being the joint sponsors to the Global Offering;

"**Laws**" means all laws, rules, regulations, guidelines, opinions, notices, circulars, orders, codes, policies, consents, judgments, decrees or rulings of any court, government, law enforcement agency, governmental or regulatory authority whether national, federal, provincial, regional, state, municipal or local, domestic or foreign (including, without limitation, the Stock Exchange, the SFC and the CSRC) of all relevant jurisdictions (including, without limitation, Hong Kong, the PRC and Cayman Islands) (including, without limitation, the Listing Rules, Code of Conduct, Companies Ordinance, Companies (Winding up and Miscellaneous Provisions) Ordinance, and the CSRC Rules);

"**Legal Advisers**" means Company's HK & US Counsel, Company's PRC Counsel, Company's Cayman Counsel, Underwriters' HK & US Counsel, Underwriters' PRC Counsel, JUN HE LAW OFFICES LLC and Akin & Gump Strauss Hauer & Feld LLP;

"**Listing Committee**" means the listing committee of the Stock Exchange;

"**Listing Date**" means the first day on which the Class A Ordinary Shares commence trading on the Main Board of the Stock Exchange, which is expected to be on November 6, 2025;

"**Listing Rules**" means the Rules Governing the Listing of Securities on the Stock Exchange (as amended from time to time) and the listing decisions, the Guide, guidelines and other requirements of the Stock Exchange;

"**Losses**" has the meaning ascribed to it in Clause 9.1;

"**Main Board**" means the stock exchange (excluding the option market) operated by the Stock Exchange which is independent from and operated in parallel with the Growth Enterprise Market of the Stock Exchange;

"**Material Adverse Effect**" means a material adverse effect or any development involving a prospective material adverse effect, on the profits, losses, results of operations, assets, liabilities, general affairs, business, management, performance, prospects, shareholders' equity, position or condition (financial, trading or otherwise) of the Group, taken as a whole;

"**Maximum Hong Kong Offer Price**" has the meaning ascribed to it in Clause 2.6;

"**Money Settlement Failure**" means a notification by HKSCC to any of the Joint Sponsors or the Overall Coordinators that any Hong Kong Offer Share(s) shall be reallocated from the Hong Kong Public Offering to the International Offering due to a money settlement failure as described in the section headed How to Apply for Hong Kong Offer Shares in the Hong Kong Prospectus;

"**Nasdaq**" means the Nasdaq Stock Market;

"**Nominee**" means CMB Wing Lung (Nominees) Limited, in whose name the application moneys are to be held by the Receiving Bank under the Receiving Bank Agreement;

"**OC Engagement Letters**" means the Sponsor and Sponsor-OC Mandates and the engagement letter in respect of the Global Offering entered into between J.P. Morgan as an Overall Coordinator and the Company;

"**Offer Shares**" means the Hong Kong Offer Shares and the International Offer Shares, together with, where relevant, the Over-allotment Option Shares;

"**Offering Documents**" means the Hong Kong Public Offering Documents, the Registration Statement, the Time of Sale Prospectus, the Preliminary Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus and any other announcement, document, materials or information made, issued, given, released or used in connection with or in relation to the contemplated offering and sale of the Offer Shares or otherwise in connection with the Global Offering, including, without limitation, any Investor Presentation Materials relating to the Offer Shares and, in each case, all amendments or supplements thereto, whether or not approved by the Joint Sponsors, the Overall Coordinators or any of the Underwriters;

"**Operative Documents**" means the Price Determination Agreement, the Receiving Bank Agreement, the Registrar's Agreement, the FINI Agreement and the Stock Borrowing Agreement, or any relevant one or more of them as the context requires;

"**Overall Coordinators**" means CICC, MS and J.P. Morgan, being the overall coordinators to the Global Offering;

"**Over-allotment Option**" means the option to be granted by the Company to the International Underwriters and exercisable by the Overall Coordinators (for themselves and on behalf of the International Underwriters) under the International Underwriting Agreement, pursuant to which the Company may be required to allot and issue the Over-allotment Option Shares at the International Offer Price to cover over-allocations in the International Offering (if any), on and subject to the terms of the International Underwriting Agreement;

"**Over-allotment Option Shares**" means up to 13,237,500 additional Offer Shares which the Company may be required to allot and issue upon the exercise of the Over-allotment Option;

"**Over-Subscription**" has the meaning ascribed to it in Clause 4.11;

"**PHIP**" means the post hearing information pack of the Company posted on the Stock Exchange's website at <u>http://www.hkexnews.hk</u> on October 19, 2025, as amended or supplemented by any amendment or supplement thereto;

"**Post-Listing GM**" means the first general meeting of the Company to be convened within six months from the Listing Date, in which shareholders' approval will be sought to amend the Articles of Association, details of which are described in the section headed "Waivers and Exemptions – Requirements Relating to the Articles of Association" in the Hong Kong Prospectus;

"**PRC**" means the People's Republic of China which, for the purposes of this Agreement only, excludes Hong Kong, Macau Special Administrative Region of the People's Republic of China and Taiwan;

"**Preliminary Prospectus**" means each prospectus used prior to the effectiveness of the Registration Statement, and each prospectus that omitted information pursuant to Rule 430A under the Securities Act that was used after such effectiveness and prior to the execution and delivery of the International Underwriting Agreement;

"**Price Determination Agreement**" means the agreement in the agreed form to be entered into between the Company, the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Underwriters) on the Price Determination Date to record the Hong Kong Offer Price and the International Offer Price;

"**Price Determination Date**" means the date on which the Hong Kong Offer Price is fixed and International Offer Price are fixed for the purposes of, among others, the Global Offering in accordance with Clause 2.6;

"**Proceedings**" means all litigations, actions, suits, claims (whether or not any such claim involves or results in any action, suit or proceeding), demands, investigations, judgments, awards and proceedings (including, without limitation, any investigation or inquiry by or before any Authority);

"**Receiving Bank**" means CMB Wing Lung Bank Limited, the receiving bank appointed by the Company in connection with the Hong Kong Public Offering pursuant to the Receiving Bank Agreement;

"**Receiving Bank Agreement**" means the agreement dated October 24, 2025 entered into between the Company, the Receiving Bank, the Nominee, the Joint Sponsors, the Overall Coordinators and the Share Registrar for the appointment of the Receiving Bank and the Nominee in connection with the Hong Kong Public Offering;

"**Registrar's Agreement**" means the agreement dated August 6, 2025 entered into between the Company and the Share Registrar in relation to the appointment of the Share Registrar;

"**Relevant Jurisdictions**" has the meaning ascribed to it in Clause 11.1;

"**Registration Statement**" has the meaning ascribed to it in the International Underwriting Agreement;

"**Renminbi**" and "**RMB**" mean Renminbi, the lawful currency of the PRC;

"**Reporting Accountants**" means KPMG, Certified Public Accountants;

"**Reserved Matters**" means those matters resolutions with respect to which each Share is entitled to one vote at general meetings of the Company pursuant to the Articles of Association after amendment in the Post-Listing GM, being: (i) any amendment to the memorandum of association of the Company or Articles of Association, (ii) the variation of the rights attached to any class of shares, (iii) the appointment or removal of any independent non-executive Director, (iv) the appointment or removal of the Company's auditors, and (v) the voluntary winding-up of the Company;

"**SEC**" the United States Securities and Exchange Commission;

"**Securities Act**" means the United States Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder;

"**Securities and Futures Commission**" or "**SFC**" means the Securities and Futures Commission of Hong Kong;

"**Securities and Futures Ordinance**" or "**SFO**" means the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as amended, supplemented or otherwise modified from time to time;

"**SFC Transaction Levy**" means the transaction levy at the rate of 0.0027% of the Hong Kong Offer Price in respect of the Hong Kong Offer Shares, or 0.0027% of the International Offer Price in respect of the International Offer Shares (as the case may be), imposed by the SFC;

"**Share Registrar**" means Computershare Hong Kong Investor Services Limited of Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong;

"**Shares**" means the Class A Ordinary Shares and/or the Class B Ordinary Shares in the share capital of the Company;

"**Single Largest Group of Shareholders**" means Dr. Han, XHL and THL, which constitute the single largest group of shareholders of the Company, and each a member of the Single Largest Group of Shareholders;

"**Specialist Technology Company**" means a company primarily engaged (whether directly or through its subsidiaries) in the research and development of, and the commercialization and/or sales of, Specialist Technology Product(s) within an acceptable sector of a Specialist Technology Industry, as defined in Rule 18C.01 of the Listing Rules;

"**Sponsor-OCs**" means CICC and MS, being the sponsor-overall coordinators to the Global Offering;

"**Sponsor and Sponsor-OC Mandates**" means the respective engagement letters in respect of the Global Offering entered into between each of CICC and MS as a Joint Sponsor and a Sponsor-OC and the Company;

"**Stabilizing Manager**" has the meaning ascribed to it in Clause 6.1;

"**Stock Borrowing Agreement**" means the stock borrowing agreement expected to be entered into on or about the Price Determination Date between Humber Partners Limited and/or Yanli Holdings Limited as lender and CICC as borrower, pursuant to which Humber Partners Limited and/or Yanli Holdings Limited shall, upon request, make available to CICC up to 13,237,500 Offer Shares for the purposes of or in connection with settlement of over-allocations under the Global Offering;

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

"**Subsidiaries**" means the companies named in the Hong Kong Prospectus as subsidiaries of the Company, and "**Subsidiary**" means any one of them;

"**Supplemental Offering Materials**" means any "written communication" (within the meaning of the Securities Act) prepared by or on behalf of the Company, or used or referred to by the Company, that constitutes an offer to sell or a solicitation of an offer to buy the Offer Shares other than the Offering Documents or amendments or supplements thereto, including, without limitation, any Investor Presentation Materials relating to the Offer Shares that constitutes such a written communication;

"**Taxation**" or "**Taxes**" means all forms of taxation whenever created, imposed or arising and whether of Hong Kong, the PRC, the Cayman Islands and the United States or of any other part of the world and, without prejudice to the generality of the foregoing, includes all forms of taxation on or relating to profits, salaries, interest and other forms of income, taxation on capital gains, sales and value added taxation, business tax, estate duty, death duty, capital duty, stamp duty, payroll taxation, withholding taxation, rates and other taxes or charges relating to property, customs and other import and excise duties, and generally any taxation, fee, assessment, duty, impost, levy, rate, charge or any amount payable to taxing, revenue, customs or fiscal Authorities whether of Hong Kong, the PRC, Cayman Islands, the United States or of any other part of the world, whether by way of actual assessment, withholding, loss of allowance, deduction or credit available for relief or otherwise, and including all interest, additions to tax, penalties or similar liabilities arising in respect of any taxation;

"**Time of Sale**" has the same meaning as in the International Underwriting Agreement;

"**Time of Sale Prospectus**" has the same meaning as in the International Underwriting Agreement;

"**Trading Fee**" means the trading fee at the rate of 0.00565% of the Hong Kong Offer Price in respect of the Hong Kong Offer Shares, or 0.00565% of the International Offer Price in respect of the International Offer Shares (as the case may be), imposed by the Stock Exchange;

"**Under-Subscription**" has the meaning ascribed to it in Clause 4.6;

"**Underwriters**" means the Hong Kong Underwriters and the International Underwriters;

"**Underwriters' HK & US Counsel**" means Latham & Watkins LLP, being the Underwriters' legal advisers on Hong Kong and US law, of 18<sup>th</sup> Floor, One Exchange Square, 8 Connaught Place, Central, Hong Kong;

"**Underwriters' PRC Counsel**" means Han Kun Law Offices, being the Underwriters' legal advisers on PRC law, of 9/F, Office Tower C1, Oriental Plaza, 1 East Chang An Avenue, Dongcheng District, Beijing, PRC;

"**Underwriting Commission**" has the meaning ascribed to it in Clause 7.1;

"**United Kingdom**" means the United Kingdom of Great Britain and Northern Ireland;

"**Unsubscribed Shares**" has the meaning ascribed to it in Clause 4.6;

"**U.S.**" and "**United States**" means the United States of America;

"**Verification Notes**" means the verification notes relating to the Hong Kong Prospectus, copies of which have been signed and approved by, among others, the Directors, and delivered or will be delivered to the Joint Sponsors and the Overall Coordinators;

"**Warranties**" means the representations, warranties and undertakings given by the Warrantors as set out in Schedule 2;

"**Warrantors**" means the Company and the Single Largest Group of Shareholders;

"**White Form eIPO Service**" means the facility offered by the Company through the White Form eIPO Service Provider as the service provider designated by the Company allowing investors to apply electronically to purchase Offer Shares in the Hong Kong Public Offering on a website designated for such purpose, as provided for and disclosed in the Hong Kong Prospectus; and

"**White Form eIPO Service Provider**" means Computershare Hong Kong Investor Services Limited of Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong.

1.2 **Recitals and Schedules:** The Recitals
 and Schedules form part of this Agreement and shall have the same force and effect as if
 expressly set out in the body of this Agreement and any reference to this Agreement shall
 include the Recitals and the Schedules.

1.3 **References:** Except where the context
 otherwise requires, references in this Agreement to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1 statutes or statutory provisions, rules or
 regulations (whether or not having the force of law), shall be construed as references to
 the same as amended, varied, modified, consolidated or re-enacted or both from time to time
 (whether before or after the date of this Agreement) and to any subordinate legislation made
 under such statutes or statutory provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2 knowledge, information, belief or awareness
 or similar terms of any person shall be treated as including but not limited to any knowledge,
 information, belief and awareness which the person would have had if such person had made
 due, diligent and careful enquiries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.3 a "**company**" shall
 include any company, corporation or other body corporate, whenever and however incorporated
 or established;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.4 a "**person**" shall
 include any individual, body corporate, unincorporated association or partnership, joint
 venture, government, state or agency of a state (whether or not having separate legal personality);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.5 a "**subsidiary**" or
 a "**holding company**" are to the same as defined in section 15 and 13 of
 the Companies Ordinance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.6 "**Clauses** ", "**Paragraphs** ",
 "**Recitals**" and "**Schedules**" are to clauses and paragraphs
 of and recitals and schedules to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.7 "**parties**" are to
 the parties to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.8 the terms "**herein** ",
 "**hereof** ", "**hereto** ", "**hereinafter** "
 and similar terms, shall in each case refer to this Agreement taken as a whole and not to
 any particular clause, paragraph, sentence, schedule or other subdivision of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.9 the terms "**or** ", "**including** "
 and "**and**" are not exclusive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.10 the terms "**purchase** "
 and "**purchaser** ", when used in relation to the Hong Kong Offer Shares,
 shall include, a subscription for the Hong Kong Offer Shares and a subscriber for the Hong
 Kong Offer Shares, respectively and the terms "**sell**" and "**sale** ",
 when used in relation to the Hong Kong Offer Shares, shall include an allotment or issuance
 of the Shares by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.11 a document being "**in the agreed form**" are to a document in a form from time to time (whether on or after the date
 hereof) agreed between the Company, the Joint Sponsors and the Overall Coordinators (for
 themselves and on behalf of the Underwriters) with such alternatives as may be agreed between
 the Company, the Joint Sponsors and the Overall Coordinators (for themselves and on behalf
 of the Underwriters) but such documents in agreed form do not form part of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.12 a "**certified copy** "
 means a copy certified as a true copy by a Director, a company secretary of the Company or
 a counsel for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.13 "**written**" or "**in writing**" shall include any mode of reproducing words in a legible and non-transitory
 form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.14 times of day and dates are to Hong
 Kong times and dates, respectively; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.15 any reference to "**right(s)** ",
 "**duty(ies)** ", "**power(s)** ", "**authority(ies)** "
 and "**discretion(s)**" of the Joint Sponsors or the Overall Coordinators
 shall only be exercised when the Joint Sponsors or the Overall Coordinators (as the case
 may be) unanimously elect to do so, respectively.

1.4 **Headings:** The headings in this Agreement
 are for convenience only and shall not affect the interpretation of this Agreement.

1.5 **Genders and plurals:** In this Agreement,
 words importing a gender shall include the other genders and words importing the singular
 shall include the plural and vice versa.

---

| | |
|:---|:---|
| **2** | **CONDITIONS** |

---

2.1 **Conditions precedent:** The obligations
 of the Hong Kong Underwriters under this Agreement are conditional on the following conditions
 precedent being satisfied or, where applicable, waived (to the extent permissible under applicable
 Laws):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Underwriters) receiving from the Company all Conditions
 Precedent Documents as set out in Part A of Schedule 3 and Part B of Schedule 3,
 in form and substance satisfactory to the Joint Sponsors and the Overall Coordinators, not
 later than 8:00 p.m. on the Business Day immediately before the Hong Kong Prospectus
 Date and 8:00 p.m. on the Business Day immediately before the Listing Date or such later
 time and/or date as the Joint Sponsors and the Overall Coordinators (for themselves and on
 behalf of the Underwriters) may agree, respectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 the issue by the Stock Exchange of a
 certificate of authorization of registration in respect of the Hong Kong Prospectus on the
 Business Day immediately before the Hong Kong Prospectus Date and the registration by the
 Registrar of Companies in Hong Kong of one copy of the Hong Kong Prospectus, duly certified
 by two Directors (or by their attorneys duly authorized in writing) as having been approved
 by resolutions of the Board and having attached thereto all necessary consents and documents
 required by section 342C (subject to any certificate of exemption granted pursuant to section
 342A) of the Companies (Winding up and Miscellaneous Provisions) Ordinance not later than
 6:00 p.m. or such later time as agreed by the Stock Exchange or the Registrar of Companies
 in Hong Kong (as the case may be) on the Business Day before the Hong Kong Prospectus Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 Admission having occurred and become
 effective (either unconditionally or subject only to allotment and issue of the relevant
 Offer Shares, despatch or availability for collection of share certificates in respect of
 the Offer Shares and/or such other conditions as may be acceptable to the Joint Sponsors
 and the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters))
 on or before the Listing Date (or such later date as the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Hong Kong Underwriters) may agree in writing) and Admission
 not subsequently having been withdrawn, revoked or withheld prior to the commencement of
 trading of the Class A Ordinary Shares on the Main Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4 admission into CCASS in respect of the
 Class A Ordinary Shares having occurred and become effective (either unconditionally
 or subject only to allotment and issue of the relevant Offer Shares, despatch or availability
 for collection of share certificates in respect of the Offer Shares and/or such other conditions
 as may be acceptable to the Joint Sponsors and the Overall Coordinators (for themselves and
 on behalf of the Hong Kong Underwriters)) on or before the Listing Date (or such later date
 as the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong
 Kong Underwriters) may agree in writing);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5 the Hong Kong Offer Price and the International
 Offer Price having been fixed and the Price Determination Agreement having been duly executed
 by the Company and the Overall Coordinators (for themselves and on behalf of the Underwriters),
 on the Price Determination Date (or such later date as may be agreed between the Company
 and the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the
 Underwriters)) in accordance with Clause 2.6 and such agreement not subsequently having been
 terminated in accordance with its terms or otherwise, prior to 8:00 a.m. on the Listing
 Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6 the execution and delivery of the International
 Underwriting Agreement and the Stock Borrowing Agreement by the parties thereto on the Price
 Determination Date and such agreement(s) not subsequently having been terminated, the
 obligations of the International Underwriters under the International Underwriting Agreement
 having become unconditional in accordance with its terms, save for the condition therein
 relating to the obligations of the Hong Kong Underwriters under this Agreement (and any condition
 for this Agreement to become unconditional), and the International Underwriting Agreement
 not having been terminated in accordance with its terms or otherwise, prior to 8:00 a.m. on
 the Listing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7 the CSRC having accepted the CSRC Filings
 and published the filing results in respect of the CSRC Filings on its website, and such
 notice of acceptance and/or filing results published not having otherwise been rejected,
 withdrawn, revoked or invalidated prior to 8:00 a.m. on the Listing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.8 the Warranties being true, accurate,
 not misleading and not being breached on and as of the date of this Agreement and the dates
 and times on which they are deemed to be repeated under this Agreement (as though they had
 been given and made on such dates and times by reference to the facts and circumstances then
 subsisting);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.9 each of the Warrantors having complied
 with this Agreement and satisfied all the obligations and conditions on its/his part under
 this Agreement to be performed or satisfied (or otherwise waived in accordance with the terms
 stated herein) on or prior to the respective times and dates by which such obligations must
 be performed or conditions must be met;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10 all of the waivers or exemptions as
 stated in the Hong Kong Prospectus to be granted by the Stock Exchange or the SFC having
 been granted and are not otherwise revoked, withdrawn, amended or invalidated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.11 all of the Approvals and Filings in
 connection with the application for listing of the Class A Ordinary Shares and the Global
 Offering granted by the relevant Authorities having been obtained, valid and are not otherwise
 revoked, withdrawn, amended or invalidated.

2.2 **Procure fulfilment:** Each of the Warrantors
 jointly and severally undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and
 the Hong Kong Underwriters to fulfil or procure the fulfilment of the Conditions, on or before
 the relevant time or date specified therefor and, in particular, shall furnish such information,
 supply such documents, pay such fees, give such undertakings and do all acts and things as
 may be required by the Joint Sponsors and the Overall Coordinators (for themselves and on
 behalf of the Hong Kong Underwriters), the Stock Exchange, the SFC, the CSRC and the Registrar
 of Companies in Hong Kong and any other relevant Authority for the purposes of or in connection
 with the application for the listing of and the permission to deal in the Class A Ordinary
 Shares and the fulfilment of such Conditions.

2.3 **Extension:** The Joint Sponsors and the
 Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) shall have
 the right, in their sole and absolute discretion, on or before the last day on which each
 of the Conditions is required to be fulfilled, either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1 to extend the deadline for the fulfilment
 of any or all Conditions by such number of days/hours and/or in such manner as the Joint
 Sponsors and the Overall Coordinators may determine (in which case the Joint Sponsors and
 the Overall Coordinators shall be entitled to extend the other dates or deadlines referred
 to in this Agreement in such manner as they deem appropriate, provided that no extension
 shall be made beyond the 30<sup>th</sup> day after the date of the Hong Kong Prospectus and
 any such extension and the new timetable shall be notified by the Joint Sponsors and Overall
 Coordinators to the other parties to this Agreement and the relevant Authorities as soon
 as practicable after any such extension is made); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2 in respect of the Condition set out
 in Clause 2.1.1, to waive or modify (with or without condition(s) attached and in whole
 or in part) such Condition.

2.4 **Conditions not satisfied:** Without prejudice
 to Clauses 2.3 and 11, if any of the Conditions has not been fulfilled in accordance with
 the terms hereof on or before the date or time specified therefor without any subsequent
 extension of time or waiver or modification in accordance with the terms hereof, this Agreement
 shall terminate with immediate effect and the provisions of Clause 11.2 shall apply.

2.5 **No waiver in certain circumstances:** The Joint Sponsors', the Sponsor-OCs', the Overall Coordinators', the Joint
 Global Coordinators', the CMIs', the Joint Bookrunners', the Joint Lead
 Managers' or the Hong Kong Underwriters' consent to or knowledge of any amendments/
 supplements to the Offering Documents subsequent to their respective issues, publications
 or distributions will not (i) constitute a waiver of any of the Conditions; or (ii) result
 in any loss of their or the Hong Kong Underwriters' rights to terminate this Agreement.

2.6 **Determination of Hong Kong Offer Price and International Offer Price:** The Company and the Overall Coordinators (for themselves
 and on behalf of the Underwriters) shall meet or otherwise communicate as soon as reasonably
 practicable, after the book-building process in respect of the International Offering has
 been completed, with a view to agreeing the price at which the Hong Kong Offer Shares and
 the International Offer Shares will be offered pursuant to the Global Offering. The Company
 and the Overall Coordinators (for themselves and on behalf of the Underwriters) will determine
 the Hong Kong Offer Price by reference to, among other factors, the closing price of the
 ADSs on Nasdaq on the last trading day on or before the Price Determination Date (which is
 accessible at https://www.nasdaq.com/market-activity/stocks/wrd) and the Hong Kong Offer
 Price will not be more than HK$35.0 per Hong Kong Offer Share ()"**Maximum Hong Kong Offer Price** "). The Company and the Overall Coordinators (for themselves and on
 behalf of the Underwriters) may agree on the International Offer Price at a level higher
 than that of the Maximum Hong Kong Offer Price if (a) the Hong Kong dollar equivalent
 of the closing trading price of the ADSs on Nasdaq on the last trading day on or before the
 Price Determination Date (on a per-Share converted basis) were to exceed the Maximum Hong
 Kong Offer Price as stated in the Hong Kong Prospectus and/or (b) the Company and the
 Overall Coordinators believe that it is in the best interest of the Company as a listed company
 to set the International Offer Price at a level higher than the Maximum Hong Kong Offer Price
 based on the level of interest expressed by professional and institutional investors during
 the book-building process. If the International Offer Price is set at or lower than the Maximum
 Hong Kong Offer Price, the Hong Kong Offer Price must be set at such price which is equal
 to the International Offer Price. In no circumstances the Hong Kong Offer Price will be set
 above the Maximum Hong Kong Offer Price or the International Offer Price. If the Company
 and the Overall Coordinators (for themselves and on behalf of the Underwriters) reach agreement
 on the said prices, which are expected to be agreed on or about the Price Determination Date,
 then such agreed prices shall represent the International Offer Price and the Hong Kong Offer
 Price for the purposes of the Global Offering and for this Agreement and the parties shall
 record the agreed prices by executing the Price Determination Agreement. If no such agreement
 is reached and the Price Determination Agreement is not signed by November 4, 2025,
 and no extension is granted by the Joint Sponsors and Overall Coordinators pursuant to Clause
 2.3, then the provisions of Clause 2.4 shall apply. Each of the Hong Kong Underwriters (other
 than the Joint Sponsors and the Overall Coordinators) hereby authorizes the Joint Sponsors
 and the Overall Coordinators to negotiate and agree on its behalf the Hong Kong Offer Price
 and the International Offer Price and to execute and deliver the Price Determination Agreement
 on its behalf with such variations, if any, as in the sole and absolute judgement of the
 Overall Coordinators may be necessary or desirable and further agree that it will be bound
 by all the terms of the Price Determination Agreement as executed.

2.7 **Reduction of the number of Offer Shares:** The Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Underwriters)
 may, where considered appropriate, based on the level of interest expressed by prospective
 institutional, professional and other investors during the book-building process in respect
 of the International Offering, and with the consent of the Company, reduce the number of
 Offer Shares below those stated in the Hong Kong Prospectus at any time on or prior to the
 morning of the Acceptance Date. In such a case, the Company shall, promptly following the
 decision to make such reduction, and in any event not later than the morning of the Acceptance
 Date, (i) cause to be published on the website of the Stock Exchange (<u>www.hkexnews.hk</u>)
 and on the website of the Company (https://www.weride.ai) notices of the reduction. Upon
 issue of such a notice, the revised number of Offer Shares will be final and conclusive.
 Such notice shall also include confirmation or revision, as appropriate, of the use of proceeds
 of the Global Offering, the working capital statement and the Global Offering statistics
 set out in the Hong Kong Prospectus, and any other financial information which may change
 as a result of such reduction; (ii) issue a supplemental prospectus and apply for waivers
 as required, from the Stock Exchange and the SFC (if necessary); and (iii) comply with
 all the Laws applicable to that reduction.

---

| | |
|:---|:---|
| **3** | **APPOINTMENTS** |

---

3.1 **Joint Sponsors**: The Company hereby
 confirms and acknowledges its appointment, to the exclusion of all others, of the Joint Sponsors
 as the joint sponsors of the Company in relation to its application for Admission, and each
 of the Joint Sponsors, relying on the Warranties and subject to the terms and conditions
 of this Agreement, hereby confirms and acknowledges its acceptance of such appointment. For
 the avoidance of doubt, the appointment of the Joint Sponsors hereunder is in addition to
 their engagement under the terms and conditions of the Sponsor and Sponsor-OC Mandates, which
 shall continue to be in full force and effect.

3.2 **Sponsor-OCs and Overall Coordinators:** The Company hereby confirms and acknowledges its appointment, to the exclusion of all others,
 of the Sponsor-OCs as the sponsor-overall coordinators, and the Overall Coordinators as the
 overall coordinators in connection with the Global Offering, and each of the Sponsor-OCs
 and the Overall Coordinators, relying on the Warranties and subject to the terms and conditions
 of this Agreement, hereby confirms and acknowledges its acceptance of such appointment. The
 Company also hereby confirms and acknowledges its appointment, to the exclusion of others,
 of CICC as the designated Sponsor-OC of the Global Offering for communication with, and provision
 of information to, the Stock Exchange and the SFC in accordance with the applicable Laws
 or upon request. For the avoidance of doubt, the appointment of the Sponsor-OCs and the Overall
 Coordinators hereunder is in addition to their engagement under the terms and conditions
 of the Sponsor and Sponsor-OC Mandates and OC Engagement Letters, which shall continue to
 be in full force and effect.

3.3 **Joint Global Coordinators**: The Company
 hereby confirms and acknowledges its appointment, to the exclusion of all others, of the
 Joint Global Coordinators as the joint global coordinators in connection with the Global
 Offering, and each of the Joint Global Coordinators, relying on the Warranties and subject
 to the terms and conditions of this Agreement, hereby confirms and acknowledges its acceptance
 of such appointment.

3.4 **Joint Bookrunners**: The Company hereby
 confirms and acknowledges its appointment, to the exclusion of all others, of the Joint Bookrunners
 as the joint bookrunners in connection with the Global Offering, and each of the Joint Bookrunners,
 relying on the Warranties and subject to the terms and conditions of this Agreement, hereby
 confirms and acknowledges its acceptance of such appointment.

3.5 **Joint Lead Managers**: The Company hereby
 confirms and acknowledges its appointment, to the exclusion of all others, of the Joint Lead
 Managers as the joint lead managers in connection with the Global Offering, and each of the
 Joint Lead Managers, relying on the Warranties and subject to the terms and conditions of
 this Agreement, hereby confirms and acknowledges its acceptance of such appointment.

3.6 **Capital Market Intermediaries**: The
 Company hereby confirms and acknowledges its appointment, to the exclusion of all others,
 of the CMIs as the capital market intermediaries in connection with the Global Offering,
 and each of the CMIs, relying on the Warranties and subject to the terms and conditions of
 this Agreement, hereby confirms and acknowledges its acceptance of such appointment. For
 the avoidance of doubt, the appointment of the CMIs hereunder is in addition to their engagement
 under the terms and conditions of the CMI Engagement Letters, which shall continue to be
 in full force and effect.

3.7 **Hong Kong Underwriters:** The Company
 hereby appoints the Hong Kong Underwriters, to the exclusion of all others, to underwrite
 the Hong Kong Offer Shares, and the Hong Kong Underwriters, relying on the Warranties and
 subject to the terms and conditions of this Agreement, severally (and not jointly or jointly
 and severally) accept such appointment, upon and subject to the terms and conditions of this
 Agreement.

3.8 **Delegation:** Each appointment referred
 to in Clauses 3.1 to 3.7 is made on the basis, and on terms, that each appointee is irrevocably
 authorized to delegate all or any of its relevant rights, duties, powers and discretions
 in such manner and on such terms as it thinks fit (with or without formality and without
 prior notice of any such delegation being required to be given to the Company) to any one
 or more of its Affiliates or any other person so long as such Affiliates or person(s) are
 permitted by applicable Laws to discharge the duties conferred upon them by such delegation.
 Each of the appointees referred to in Clauses 3.1 to 3.7 shall remain liable for all acts
 and omissions of any of its Affiliates or any other person to which it delegates relevant
 rights, duties, powers and/or discretions pursuant to this Clause 3.8, notwithstanding any
 such delegation.

3.9 **Conferment of authority:** The Company
 hereby confirms that the foregoing appointments under Clauses 3.1 to 3.7 confer on each of
 the appointees and its Affiliates, and their respective delegates under Clause 3.8, all rights,
 powers, authorities and discretions on behalf of the Company which are necessary for, or
 incidental to, the performance of its roles as a Joint Sponsor, Sponsor-OC, Overall Coordinator,
 Joint Global Coordinator, CMI, Joint Bookrunner, Joint Lead Manager or Hong Kong Underwriter
 (as the case may be), and hereby agrees to ratify and confirm everything each such appointee,
 Affiliates and delegate under Clause 3.8 has done or shall do in the exercise of such rights,
 powers, authorities and discretions. The Company undertakes with the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters that it will procure
 that there is no offer, sale or distribution of the Hong Kong Offer Shares otherwise than
 in accordance with and on the terms and conditions of the Hong Kong Public Offering Documents
 and this Agreement.

3.10 **Sub-underwriting:** The Hong Kong Underwriters
 shall be entitled to enter into sub-underwriting arrangements in respect of any part of their
 respective Hong Kong Underwriting Commitments, provided that no Hong Kong Underwriter shall
 offer or sell Hong Kong Offer Shares in connection with any such sub-underwriting arrangements
 to any person in respect of whom such offer or sale would be in contravention of applicable
 Laws or the selling restrictions set out in any of the Offering Documents. All sub-underwriting
 commission shall be borne by the relevant Hong Kong Underwriter absolutely and shall not
 be for the account of the Company. The relevant Hong Kong Underwriter shall remain liable
 for all the acts and omissions of the sub-underwriter with whom it has entered into sub-underwriting
 arrangements.

3.11 **No liability for the Offering Documents, the Hong Kong Offer Price and the International Offer Price**: Notwithstanding anything
 in this Agreement, none of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 the Hong Kong Underwriters or any other Indemnified Party shall have any liability whatsoever
 to the Warrantors or any other person in respect of any loss or damage to any person arising
 from any transaction carried out by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 the Hong Kong Underwriters and their respective delegates under Clause 3.8 or any other Indemnified
 Party, including, without limitation, with respect to the following matters (it being acknowledged
 by the parties that the Warrantors are solely responsible in this regard):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11.1 any of the matters referred in Clauses
 9.2.1 to 9.2.3; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11.2 any alleged insufficiency of the Hong
 Kong Offer Price, the International Offer Price or any dealing price of the Offer Shares.

Notwithstanding anything contained in Clause 9, each Indemnified Party shall be entitled pursuant to the indemnities contained in Clause 9 to recover any Loss incurred or suffered or made as a result of or in connection with any of the foregoing matters.

3.12 **No fiduciary duties:** Each of the Warrantors
 acknowledges and agrees that (i) the Joint Sponsors, in their roles as such, are acting
 solely as sponsors in connection with the listing of the Class A Ordinary Shares on
 the Main Board of the Stock Exchange, (ii) the Sponsor-OCs, in their roles as such,
 are acting solely as sponsor-overall coordinators of the Global Offering, (iii) the
 Overall Coordinators, in their roles as such, are acting solely as overall coordinators of
 the Global Offering, (iv) the Joint Global Coordinators, in their roles as such, are
 acting solely as global coordinators of the Global Offering, (v) the CMIs, in their
 roles as such, are acting solely as capital market intermediaries in connection with the
 Global Offering, (vi) the Joint Bookrunners, in their roles as such, are acting solely
 as bookrunners of the Global Offering, (vii) the Joint Lead Managers, in their roles
 as such, are acting solely as lead managers of the Global Offering and (viii) the Hong
 Kong Underwriters, in their roles as such, are acting solely as underwriters in connection
 with the Hong Kong Public Offering.

Each of the Warrantors further acknowledges that the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters are acting pursuant to a contractual relationship with the Warrantors entered into on an arm's length basis, and in no event do the parties intend that the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters, as applicable, act or be responsible as a fiduciary or adviser to the Warrantors, their respective directors, management, shareholders or creditors or any other person in connection with any activity that the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as applicable, may undertake or have undertaken in furtherance of the Global Offering or the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange, either before or after the date hereof.

The Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters hereby expressly disclaim any fiduciary or advisory or similar obligations to the Warrantors or any of them, either in connection with the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange or any process or matters leading up to such transactions (irrespective of whether any of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters have advised or are currently advising the Warrantors or any of them on other matters), and each of the Warrantors hereby confirms its/his understanding and agreement to that effect. The Warrantors, on the one hand, and the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as applicable, on the other hand, agree that they are each responsible for making their own independent judgments with respect to any such transactions and that any opinions or views expressed by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as applicable, to the Warrantors or any of them regarding such transactions, including, but not limited to, any opinions or views with respect to the price or market for the Class A Ordinary Shares, do not constitute advice or recommendations to the Warrantors or any of them.

The Warrantors, on the one hand, and the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as applicable, on the other hand, agree that the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as applicable, in their respective roles as such and with respect to transactions carried out at the request of and for the Company pursuant to their respective appointments as such, are acting in their respective roles as principal and not the agent (except and solely, with respect to the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead Managers, for the limited purposes of arranging payment on behalf of the Company of the Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy as set forth in Clause 5.4 hereof, with respect to the Hong Kong Underwriters, for the limited purposes of procuring applications to purchase Unsubscribed Shares as set forth in Clause 4.6 hereof) nor the fiduciary or adviser of any member of the Group or the Warrantors, and none of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters has assumed, or will assume, any fiduciary, agency or advisory or similar responsibility in favor of the Warrantors or any of them with respect to the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange or any process or matters leading up to such transactions (irrespective of whether any of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters have advised or are currently advising the Warrantors or any of them on other matters) (for the avoidance of doubt, this provision will not affect any contractual duties or obligations the Joint Sponsors may owe to the Company under the Sponsor and Sponsor-OC Mandates).

Each of the Warrantors further acknowledges and agrees that the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters are not advising the Warrantors, their respective directors, management, shareholders or creditors or any other person (to the extent applicable) as to any legal, Tax, investment, accounting or regulatory matters (except for, with respect to the Joint Sponsors and the Overall Coordinators, any advice to the Company on matters in relation to the listing application as prescribed by and solely to the extent as required under the Listing Rules, the SFC Corporate Finance Adviser Code of Conduct and the Code of Conduct in their capacity as joint sponsors and the overall coordinators in connection with the proposed listing of the Company) in any jurisdiction. Each of the Warrantors shall consult with its/his own advisers concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated by this Agreement, and none of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters, their respective Affiliates and their and their respective Affiliates' respective directors, officers and employees shall have any responsibility or liability to any of the Warrantors with respect thereto. Any review by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters of the Company, the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange or any process or matters relating thereto shall be performed solely for the benefit of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and shall not be on behalf of any of the Warrantors.

The Warrantors further acknowledge and agree that the Joint Sponsors, the Sponsor-OC, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Warrantors.

Each of the Warrantors hereby waives and releases, to the fullest extent permitted by Laws, any conflict of interests and any claims that such Warrantor may have against the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters with respect to any breach or alleged breach of any fiduciary, agency, advisory or similar duty to such Warrantor in connection with the transactions contemplated by this Agreement or otherwise by the Global Offering or the listing of the Class A Ordinary Shares on the Main Board of the Stock Exchange or any process or matters leading up to such transactions.

3.13 **Several obligations:** Without prejudice
 to Clause 3.12 above, any transaction carried out by the appointees under Clauses 3.1 to
 3.7, or by any of the delegates under Clause 3.8 of such appointee, within the scope of the
 appointments, powers, authorities and/or discretions in this Agreement (other than subscription
 for any Hong Kong Offer Shares by any Hong Kong Underwriters as principal and any stabilizing
 activities conducted in accordance with Clause 6.1) shall constitute a transaction carried
 out at the request of and for the Company and not on account of or for any other appointee
 or their respective Affiliates or delegates under Clause 3.8. The obligations of the appointees
 are several (and not joint or joint and several) and that each appointee shall not be liable
 for any fraud, misconduct, negligence or default whatsoever of the other parties hereto.
 None of the appointees under Clauses 3.1 to 3.7 will be liable for any failure on the part
 of any of the other appointees to perform their respective obligations under this Agreement
 and no such failure shall affect the right of any of the other appointees to enforce the
 terms of this Agreement. Notwithstanding the foregoing, each of the appointees under Clauses
 3.1 to 3.7 shall be entitled to enforce any or all of its rights under this Agreement either
 alone or jointly with the other appointees.

3.14 **Advice to the Company:** The Company
 hereby confirms and acknowledges that each of the Overall Coordinators has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.1 engaged the Company at various stages
 during the offering process to understand the Company's preferences and objectives
 with respect to pricing and the desired shareholder or investor base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.2 explained the basis of its advice and
 recommendations to the Company including any advantages and disadvantages, including but
 not limited to communicating its allocation policy to the Company, and that the Company confirms
 that it fully understands the factors underlying the allocation recommendations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.3 advised the Company in a timely manner,
 throughout the period of engagement, of key factors for consideration and how these could
 influence the pricing outcome, allocation and future shareholder or investor base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.4 advised the Company on the information
 that should be provided to the CMIs to enable them to meet their obligations and responsibilities
 under the Code of Conduct, including information about the Company to facilitate a reasonable
 assessment of the Company required under the Code of Conduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.5 provided guidance to the Company on
 the market's practice on the ratio of fixed and discretionary fees to be paid to the
 CMIs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.6 advised and guided the Company and
 its directors as to their responsibilities under the rules, regulations and requirements
 of the Stock Exchange, the SFC and any other Authority which apply to placing activities
 including the Global Offering, and that the Company and its directors fully understand and
 undertake to the Joint Sponsors and the Underwriters that they have met or will meet these
 responsibilities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14.7 where the Company decided not to adopt
 an Overall Coordinator's advice or recommendations in relation to pricing or allocation
 of shares, or its decisions may lead to a lack of open market, an inadequate spread of investors
 or may negatively affect the orderly and fair trading of such shares in the secondary market,
 explained the potential concerns and advised the Company against making these decisions.

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| | |
|:---|:---|
| **4** | **HONG KONG PUBLIC OFFERING** |

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4.1 **Hong Kong Public Offering:** The Company
 shall offer the Hong Kong Offer Shares for subscription by the public in Hong Kong at the
 Hong Kong Offer Price (together with Brokerage, Trading Fee, the SFC Transaction Levy and
 AFRC Transaction Levy) payable in full on application in Hong Kong dollars on and subject
 to the terms and conditions set out in the Hong Kong Public Offering Documents and this Agreement.
 Subject to the registration of the Hong Kong Prospectus by the Company, the Joint Sponsors
 shall arrange for and the Company shall cause the Formal Notice to be published on the official
 website of the Stock Exchange at <u>www.hkexnews.hk</u> and the official website of the Company
 at https://www.weride.ai on the days specified in Schedule 5 (or such other publication(s) and/or
 day(s) as may be agreed by the Company and the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Underwriters)). The Company will, on the Hong Kong Prospectus
 Date, publish the Hong Kong Prospectus on the official website of the Company at https://www.weride.ai
 and the official website of the Stock Exchange at www.hkexnews.hk.

4.2 **Receiving Bank and Nominee:** The Company
 has appointed the Receiving Bank to receive applications and application monies under the
 Hong Kong Public Offering and has appointed the Nominee to hold the application monies received
 by the Receiving Bank under the Hong Kong Public Offering, in each case upon and subject
 to the terms and the conditions contained in the Receiving Bank Agreement. The Company shall
 use its best endeavours to procure (i) each of the Receiving Bank and the Nominee to
 do all such acts and things as may be reasonably required to be done by it in connection
 with the Hong Kong Public Offering and its associated transactions; and (ii) the Nominee
 to undertake to hold and deal with such application monies upon and subject to the terms
 and conditions contained in the Receiving Bank Agreement.

4.3 **Share Registrar and White Form eIPO Service:** The Company has appointed the Share Registrar to provide services in connection
 with the processing of the Hong Kong Public Offering Applications and the provision of the
 White Form eIPO Service upon and subject to the terms and conditions of the Registrar's
 Agreement. The Company undertakes with Joint Sponsors, the Overall Coordinators and the Hong
 Kong Underwriters to use its best endeavours to procure that the Share Registrar shall do
 all such acts and things as may be reasonably required to be done by it in connection with
 the Hong Kong Public Offering and its associated transactions.

4.4 **Application Lists:** Subject as mentioned
 below, the Application Lists will open at 11:45 a.m. on the Acceptance Date and will
 close at 12:00 noon on the same day, provided that in the event of a No. 8 typhoon warning
 signal or above, "extreme conditions" caused by a super typhoon as announced
 by the Government of the Hong Kong and/ or a black rainstorm warning signal (collectively,
 "**Severe Weather Signals**") being in force in Hong Kong at any time between
 9:00 a.m. and 12:00 noon on that day, then the Application Lists will open at 11:45
 a.m. and close at 12:00 noon on the next Business Day on which no such Severe Weather
 Signal remains in force at any time between 9:00 a.m. and 12:00 noon. All references
 in this Agreement to the time of opening and closing of the Application Lists shall be construed
 accordingly.

4.5 **Basis of allocation:** The Company agrees
 that the Joint Sponsors and the Overall Coordinators shall have the exclusive right, in their
 sole and absolute discretion, upon and subject to the terms and conditions of the Hong Kong
 Public Offering Documents, the Receiving Bank Agreement and this Agreement, and in compliance
 with applicable Laws, to determine the manner and the basis of allocation of the Hong Kong
 Offer Shares and to reject or accept in whole or in part any Hong Kong Public Offering Application.

The Company shall, and shall use its best endeavours to procure the Receiving Bank and the Share Registrar to, as soon as practicable after the close of the Application Lists and in any event in accordance with the terms of the Receiving Bank Agreement, provide the Joint Sponsors and the Overall Coordinators with such information, calculations and assistance as the Joint Sponsors and the Overall Coordinators may require for the purposes of determining, *inter alia*:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.1 in the event of an Under-Subscription,
 the number of Hong Kong Offer Shares which have not been applied for pursuant to Accepted
 Hong Kong Public Offering Applications; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.2 in the event of an Over-Subscription,
 the number of times by which the number of Hong Kong Offer Shares which have been applied
 for pursuant to Accepted Hong Kong Public Offering Applications exceeds the total number
 of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public
 Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5.3 the level of acceptances and basis of
 allocation of the Hong Kong Offer Shares.

4.6 **Several underwriting commitments:** Upon
 and subject to the terms and conditions of this Agreement and in reliance upon the Warranties,
 if and to the extent that by 12:00 noon on the Acceptance Date there shall remain any Hong
 Kong Offer Shares which have not been applied for pursuant to Accepted Hong Kong Public Offering
 Applications (an "**Under-Subscription** "), the Hong Kong Underwriters (other
 than any Hong Kong Underwriter whose Hong Kong Underwriting Commitment has been reduced by
 the Hong Kong Underwriter's Applications of such Hong Kong Underwriter to zero pursuant
 to the provisions of Clause 4.7) shall, subject as provided in Clauses 4.10 and 4.12, procure
 applications to purchase, or failing which themselves as principals apply to purchase, the
 number of Hong Kong Offer Shares remaining available as a result of the Under-Subscription
 (the "**Unsubscribed Shares** "), as the Overall Coordinators may in their
 sole and absolute discretion determine, in accordance with the terms and conditions set forth
 in the Hong Kong Public Offering Documents (other than as to the deadline for making the
 application), provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.1 the obligations of the Hong Kong Underwriters
 in respect of such Unsubscribed Shares under this Clause 4.6 shall be several (and not joint
 or joint and several);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.2 the number of Unsubscribed Shares which
 each Hong Kong Underwriter is obligated to apply to purchase or procure applications to purchase
 under this Clause 4.6 shall be calculated by applying the formula below (but shall not in
 any event exceed the maximum number of Hong Kong Offer Shares as set forth opposite the name
 of such Hong Kong Underwriter in Schedule 1):

![](tm2530110d1_ex1-2img002.jpg)

where in relation to such Hong Kong Underwriter:

---

| | |
|:---|:---|
| N | is the number of Unsubscribed Shares which such Hong Kong Underwriter is obligated to apply to purchase or procure applications to purchase under this Clause 4.6, subject to such adjustment as the Overall Coordinators may determine to avoid fractional shares; |

---

---

| | |
|:---|:---|
| T | is the total number of Unsubscribed Shares determined after taking into account any reduction pursuant to Clauses 2.7, 4.10 and 4.12, as applicable; |

---

C is the Hong Kong Underwriting Commitment of such Hong Kong Underwriter;

P is the number of Hong Kong Offer Shares comprised in the Hong Kong Underwriter's Applications of such Hong Kong Underwriter;

AC is the aggregate number of Hong Kong Offer Shares determined after taking into account any reduction pursuant to Clauses 2.7, 4.10 and 4.12, as applicable; and

AP is the aggregate number of Hong Kong Offer Shares comprised in the Hong Kong Underwriter's Applications of all the Hong Kong Underwriters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6.3 the obligations of the Hong Kong Underwriters
 determined pursuant to this Clause 4.6 may be rounded, as determined by the Overall
 Coordinators in their sole and absolute discretion, to avoid fractions and odd lots. The
 determination of the Overall Coordinators of the obligations of the Hong Kong Underwriters
 with respect to the Unsubscribed Shares under this Clause 4.6 shall be final and conclusive.

None of the Overall Coordinators or the Hong Kong Underwriters will be liable for any failure on the part of any of the other Hong Kong Underwriters to perform its obligations under this Clause 4.6 or otherwise under this Agreement. Notwithstanding the foregoing, each of the Hong Kong Underwriters shall be entitled to enforce any or all of its rights under this Agreement either alone or jointly with the other Hong Kong Underwriters.

4.7 **Hong Kong Underwriters' set-off:** In relation to each Hong Kong Public Offering Application made or procured to be made by
 any of the Hong Kong Underwriters otherwise than pursuant to the provisions of Clause 4.9,
 the Hong Kong Underwriting Commitment of such Hong Kong Underwriter shall, subject to the
 production of evidence to the satisfaction of the Overall Coordinators that the relevant
 application was made or procured to be made by such Hong Kong Underwriter (or any sub-underwriter
 of such Hong Kong Underwriter) and to such Hong Kong Public Offering Application having been
 accepted (whether in whole or in part) pursuant to the provisions of Clause 4.5 and thus
 becoming an Accepted Hong Kong Public Offering Application, be reduced *pro tanto* by
 the number of Hong Kong Offer Shares accepted pursuant to and comprised in such Accepted
 Hong Kong Public Offering Application until the Hong Kong Underwriting Commitment of
 such Hong Kong Underwriter is reduced to zero. Detailed provisions relating to the set-off
 of the Hong Kong Underwriting Commitment of a Hong Kong Underwriter are set out in Schedule

4.8 **Accepted Applications:** The Company
 agrees that all duly completed and submitted Hong Kong Public Offering Applications received
 prior to the closing of the Application Lists and accepted by the Joint Sponsors and the
 Overall Coordinators pursuant to Clause 4.5, either in whole or in part, will be accepted
 by the Company before calling upon the Hong Kong Underwriters or any of them to perform their
 obligations under Clause 4.6.

4.9 **Applications and payment for Unsubscribed Shares:** In the event of an Under-Subscription, the Overall Coordinators shall, subject
 to receiving the relevant information, calculations and assistance from the Receiving Bank
 and the Share Registrar pursuant to Clause 4.5.1, notify each of the Hong Kong Underwriters
 as soon as practicable and in any event by 12:00 a.m. on the first Business Day after
 the Acceptance Date of the number of Unsubscribed Shares to be taken up pursuant to Clause
 4.6, and each of the Hong Kong Underwriters shall, as soon as practicable and in any event
 not later than 5:00 p.m. on the day of such notification and subject to the Conditions
 having been duly fulfilled or waived in accordance with the terms of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9.1 make application(s) for such number
 of Unsubscribed Shares as fall to be taken up by it pursuant to Clause 4.6 specifying the
 names and addresses of the applicants and the number of Hong Kong Offer Shares to be allocated
 to each such applicant, and deliver to the Overall Coordinators records for the duly completed
 applications; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9.2 pay, or procure to be paid, to the Nominee
 the aggregate amount payable on application in respect of the Hong Kong Offer Price for such
 number of Unsubscribed Shares as fall to be taken up by it pursuant to Clause 4.6 (which
 shall include all amounts on account of the Brokerage, Trading Fee, the SFC Transaction Levy
 and AFRC Transaction Levy in accordance with the terms of the Hong Kong Public Offering),
 provided that while such payments may be made through the Overall Coordinators on behalf
 of the Hong Kong Underwriters at their discretion and without obligation, the Overall Coordinators
 shall not be responsible for the failure by any Hong Kong Underwriter (apart from itself
 in its capacity as a Hong Kong Underwriter) to make such payment,

and the Company shall, as soon as practicable and in no event later than 9:00 a.m. on November 5, 2025 (the date specified in the Hong Kong Prospectus for the despatch of share certificates), duly allot and issue to the said applicants the Hong Kong Offer Shares to be taken up as aforesaid and procure the Share Registrar to duly issue and deliver valid share certificates in respect of such Hong Kong Offer Shares, in each case on the basis set out in Clause 5.1.

4.10 **Power of the Overall Coordinators to make applications:** In the event of an Under-Subscription, the Overall Coordinators shall have
 the right (to be exercised at their sole and absolute discretion (either acting individually
 or together in such proportions as shall be agreed between themselves) and in relation to
 which they are under no obligation to exercise) to apply or procure applications to purchase
 (subject to and in accordance with this Agreement) all or any of the Unsubscribed Shares
 which any Hong Kong Underwriter is required to subscribe pursuant to Clause 4.6. Any application
 submitted or procured to be submitted by any of the Overall Coordinators pursuant to this
 Clause 4.10 in respect of which payment is made *mutatis mutandis* in accordance with
 Clause 4.9 shall satisfy *pro tanto* the obligation of the relevant Hong Kong Underwriter
 under Clause 4.6 but shall not affect any agreement or arrangement among the Hong Kong Underwriters
 regarding the payment of Underwriting Commission.

4.11 **Reallocation from the International Offering to the Hong Kong Public Offering:** If the number of Hong Kong Offer Shares which are the
 subject of the Accepted Hong Kong Public Offering Applications exceeds the number of Hong
 Kong Offer Shares initially offered (an "**Over-Subscription** "), then：

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11.1 subject to any required reallocation
 as set out in Clause 4.11.2 or 4.11.3 and relevant requirements under Chapter 4.14 of the
 Guide and the applicable Listing Rules, the Overall Coordinators, in their sole and absolute
 discretion, may (but shall have no obligation to) reallocate Offer Shares from the International
 Offering to the Hong Kong Public Offering and make available such reallocated Offer Shares
 as additional Hong Kong Offer Shares to satisfy Hong Kong Public Offering Applications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11.2 if purchasers have been procured by
 the International Underwriters for all the International Offer Shares initially offered and
 the Over-Subscription represents a subscription of (i) 10 times or more but less than
 50 times, or (ii) 50 times or more, of the number of the Hong Kong Offer Shares initially
 available for subscription under the Hong Kong Public Offering, then the Offer Shares shall
 be reallocated to the Hong Kong Public Offering from the International Offering, so that
 the total number of Offer Shares available under the Hong Kong Public Offering will be increased
 to 8,825,000 and 17,650,000 Offer Shares, respectively, representing 10% (in the case of
 (i)) or 20% (in the case of (ii)), respectively, of the total number of Offer Shares initially
 available under the Global Offering (before any exercise of the Over-allotment Option); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11.3 if (i) the International Offer
 Shares initially offered under the International Offering are not fully subscribed but the
 Hong Kong Offer Shares under the Hong Kong Public Offering are fully or over-subscribed,
 or (ii) the International Offer Shares initially offered under the International Offering
 are fully subscribed or over-subscribed and the Over-Subscription represents a subscription
 of less than 10 times of the number of Hong Kong Offer Shares initially available under the
 Hong Kong Public Offering, the Overall Coordinators may, at their sole and absolute discretion
 and in accordance with Chapter 4.14 of the Guide and Rule 18C.09 of the Listing Rules,
 reallocate the Offer Shares initially allocated for the International Offering to the Hong
 Kong Public Offering to satisfy the Over-Subscription, provided that the total number of
 Hong Kong Offer Shares available under the Hong Kong Public Offering shall not be increased
 to more than 8,825,000 Offer Shares, representing two times the number of Hong Kong Offer
 Shares initially available under the Hong Kong Public Offering.

In each of the above cases, the number of Offer Shares available under the International Offering and the respective International Offering Purchasing Commitments of the International Underwriters shall be reduced accordingly, and the Hong Kong Underwriters will not be entitled to the Underwriting Commission referred to in Clause 7.1 in respect of such Offer Shares reallocated to the Hong Kong Public Offering.

4.12 **Reallocation from the Hong Kong Public Offering to the International Offering:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12.1 If an Under-Subscription shall occur,
 the Overall Coordinators, shall have the right to (but shall have no obligation to), in their
 sole and absolute discretion, reallocate all or any of the Unsubscribed Shares to the International
 Offering and make available such reallocated Offer Shares as additional International Offer
 Shares to satisfy demand under the International Offering. In the event of such reallocation,
 the number of Unsubscribed Shares and the respective Hong Kong Underwriting Commitments of
 the Hong Kong Underwriters shall be reduced in such manner and proportions as the Overall
 Coordinators may, in their sole and absolute discretion, determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12.2 If a Money Settlement Failure shall
 occur, the relevant Hong Kong Offer Shares shall be reallocated from the Hong Kong Public
 Offering to the International Offering and be made available as additional International
 Offer Shares.

The Hong Kong Underwriters will not be entitled to the Underwriting Commission referred to in Clause 7.1 in respect of the Offer Shares to be reallocated to the International Offering. For the avoidance of doubt, any Offer Shares reallocated from the Hong Kong Public Offering to the International Offering shall for all purposes (including any fee arrangements) be deemed to be International Offer Shares and will be dealt with in accordance with the terms of the International Underwriting Agreement.

4.13 **Hong Kong Underwriters' obligations cease:** All obligations and liabilities of the Hong Kong Underwriters under this Agreement
 will cease and be fully discharged following payment by or on behalf of the Hong Kong Underwriters
 in accordance with Clause 4.9 or Clause 4.10 or where the Hong Kong Public Offering is fully
 subscribed or upon an Over-Subscription having occurred (save in respect of any antecedent
 breaches under this Agreement). Further, none of the Overall Coordinators, the Joint Global
 Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or any of the Hong
 Kong Underwriters shall be liable for any failure by any Hong Kong Underwriter (other than
 itself as Hong Kong Underwriter) to perform any of such other Hong Kong Underwriter's
 obligations under this Agreement.

4.14 **Implementation of the Hong Kong Public Offering:** Without prejudice to the foregoing obligations, the Warrantors jointly and
 severally undertake with the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the
 Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the
 Hong Kong Underwriters to take such action and do (or procure to be done) all such other
 acts and things required to implement the Hong Kong Public Offering and to comply with all
 relevant requirements so as to enable the listing of, and permission to deal in, the Class A
 Ordinary Shares on the Main Board of the Stock Exchange to be granted by the Listing Committee.

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| | |
|:---|:---|
| **5** | **ALLOTMENT AND PAYMENT** |

---

5.1 **Issue of Hong Kong Offer Shares:** Upon
 receipt by the Share Registrar of the Accepted Hong Kong Public Offering Applications, the
 Company shall as soon as practicable following announcement of the basis of allocation of
 the Hong Kong Offer Shares and in any event no later than 9:00 a.m. on November 4,
 2025 (the date specified in the Hong Kong Prospectus for the despatch of share certificates):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1 duly allot and issue, conditional upon
 the fulfilment of the Conditions (unless waived or modified in accordance with the terms
 of this Agreement), the Hong Kong Offer Shares in accordance with the relevant sections of
 the Hong Kong Public Offering Documents and this Agreement to the successful applicants and
 in the numbers specified by the Overall Coordinators on terms that they rank *pari passu* in all respects with the existing issued Class A Ordinary Shares, including the right
 to rank in full for all distributions declared, paid or made by the Company after the time
 of their allotment, and that they will rank *pari passu* in all respects with the International
 Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2 procure that the names of the successful
 applicants (or, where appropriate, HKSCC Nominees Limited) shall be entered in the register
 of members of the Company accordingly (without payment of any registration fee); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.3 procure that share certificates in respect
 thereof (each in a form complying with the Listing Rules and in such number and denominations
 as directed by the Overall Coordinators) shall be issued and despatched, or delivered or
 released to successful applicants (or where appropriate, HKSCC for immediate credit to such
 CCASS stock accounts as shall be notified by the Overall Coordinators to the Company for
 such purpose), or made available for collection (as applicable) as provided for in the Hong
 Kong Public Offering Documents and this Agreement.

5.2 **Payment to the Company:** The application
 monies received in respect of the Hong Kong Public Offering Applications and held by the
 Nominee will be paid in Hong Kong dollars to the Company at or around 9:30 a.m. on the
 Listing Date (subject to and in accordance with the provisions of the Receiving Bank Agreement
 and this Agreement) upon the Nominee receiving written confirmation from the Overall Coordinators
 that the Conditions have been fulfilled or waived and that share certificates have been despatched
 to the successful applicants of the Hong Kong Offer Shares (or to HKSCC Nominees Limited,
 as the case may be), by wire transfer to such account or accounts in Hong Kong specified
 by the Company and notified to the Overall Coordinators in writing as soon as practicable
 after the signing of this Agreement (but, in any event, by no later than three Business Days
 immediately preceding the Listing Date) in immediately available funds, provided, however,
 that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.1 the Overall Coordinators are hereby
 irrevocably and unconditionally authorized by the Company to direct the Nominee (prior to
 payment of the application monies to the Company on and at the date and time as aforesaid)
 to deduct from such application monies received in respect of the Hong Kong Public Offering
 Applications for the Hong Kong Offer Shares offered by the Company and pay to the Overall
 Coordinators (and where a person other than the Overall Coordinators is entitled to any amount
 so deducted, such amount will be received by the Overall Coordinators on behalf of such person)
 the amounts payable by the Company pursuant to Clause 5.3 (Brokerage, Trading Fee, SFC Transaction
 Levy and AFRC Transaction Levy for applicants) and Clause 5.4 (Trading Fee, SFC Transaction
 Levy Fee and AFRC Transaction Levy for the Company); (ii) the amounts payable by the
 Company pursuant to Clause 7.1 (Underwriting commission); and (iii) costs payable by
 the Company under Clauses 7.4.2, 7.4.7, 7.4.11, and 7.4.17, to the extent such fees and expenses
 should be settled on the Listing Date pursuant to the engagement letters entered into between
 the Company and the relevant parties but have not been settled as of the Listing Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.2 to the extent that the amounts deducted
 by the Nominee under Clause 5.2.1 are insufficient to cover, or the Nominee does not or will
 not deduct in accordance with Clause 5.2.1, the amounts payable by the Company pursuant to
 Clause 7 if not otherwise dealt with in the engagement letters entered into between the Company
 and the relevant party, the Company shall, and the Single Largest Group of Shareholders shall
 procure the Company to, pay or cause to be paid in full, on and at the date and time of payment
 of the application monies to the Company as aforesaid or forthwith upon demand subsequent
 to such date and time, the shortfall or the amounts not so deducted, as applicable, to the
 Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters, as applicable)
 or to the relevant party entitled to the amount payable by the Company.

The net amount payable to the Company pursuant to this Clause 5.2 will (for the avoidance of doubt and if applicable) be calculated after allowing for entitlements of successful applicants under the Hong Kong Public Offering to refunds of application monies (including the Brokerage, the Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy) if and to the extent that the Hong Kong Offer Price shall be determined at below the Maximum Hong Kong Offer Price per Hong Kong Offer Share to be disclosed in the Hong Kong Prospectus.

5.3 **Brokerage, Trading Fee, SFC Transaction Levy and AFRC Transaction Levy for applicants:** Subject to the receipt of the applicable
 amount pursuant to Clause 7.4, the Overall Coordinators will, for themselves and on behalf
 of the Hong Kong Underwriters, arrange for the payment by the Nominee on behalf of all successful
 applicants under the Hong Kong Public Offering to the persons entitled thereto of the Brokerage,
 the Trading Fee, the SFC Transaction Levy and the AFRC Transaction Levy in respect of the
 Accepted Hong Kong Public Offering Applications, such amounts to be paid out of the application
 monies received in respect of the Hong Kong Public Offering Applications. The Overall Coordinators
 are hereby irrevocably and unconditionally authorized by the Company to direct the Nominee
 to deduct and pay such amounts.

5.4 **Trading Fee, SFC Transaction Levy and AFRC Transaction Levy for the Company**: Subject to the receipt of the applicable amount pursuant
 to Clause 7.4, the Overall Coordinators will, on behalf of the Company, arrange for the payment
 by the Nominee to the persons entitled thereto of the Trading Fee, the SFC Transaction Levy
 and the AFRC Transaction Levy payable by the Company in respect of the Accepted Hong Kong
 Public Offering Applications, such amounts to be paid out of the application monies received
 in respect of the Hong Kong Public Offering Applications. The Overall Coordinators are hereby
 irrevocably and unconditionally authorized by the Company to direct the Nominee to deduct
 and pay such amounts.

5.5 **Refund**: The Company will use its best
 endeavors to procure that, in accordance with the terms of the Receiving Bank Agreement and
 the Registrar's Agreement, the Nominee will pay refunds of applications monies, and
 the Share Registrar will arrange for payment of refunds of application monies, to those successful
 or unsuccessful applicants under the Hong Kong Public Offering who are or may be entitled
 to receive any refund of application monies (in whole or in part) in accordance with the
 terms of the Hong Kong Public Offering specified in the Hong Kong Public Offering Documents.

5.6 **Separate Bank Account:** The Company
 agrees that the application monies received in respect of Hong Kong Public Offering Applications
 shall be credited to a separate bank account with the Nominee pursuant to the terms of the
 Receiving Bank Agreement.

5.7 **No Responsibility for Default:** The
 Company acknowledges and agrees that none of the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead
 Managers, the Hong Kong Underwriters or any of their respective Affiliates has or shall have
 any liability whatsoever under Clause 5 or Clause 7 or otherwise for any default by the Nominee
 or any other application of funds.

---

| | |
|:---|:---|
| **6** | **STABILIZATION** |

---

6.1 **Stabilization:** The Company hereby appoints,
 to the exclusion of all others, CICC (the "**Stabilizing Manager**") as its
 stabilizing manager in connection with the Global Offering to (but with no obligation and
 not as agent for the Company) make purchases, over-allocate or effect transactions in the
 market or otherwise take such stabilizing action(s) with a view to supporting the market
 price of the Class A Ordinary Shares at a level higher than that which might otherwise
 prevail for a limited period after the Listing Date. The Company hereby acknowledges and
 agrees that the Stabilizing Manager may, from time to time, in its sole and absolute discretion,
 appoint agents to act on its behalf with the same authorities and rights as the Stabilizing
 Manager in connection with any stabilization activities. Any stabilization actions taken
 by the Stabilizing Manager or any person acting for it as stabilizing manager shall be conducted
 in compliance with the Securities and Futures (Price Stabilizing) Rules under the Securities
 and Futures Ordinance and all other applicable Laws and may be discontinued at any time.

Each of the Hong Kong Underwriters (other than the Stabilizing Manager or any person acting for it) hereby undertakes severally (and not jointly or jointly and severally) to each other party to this Agreement that it will not take or cause or authorize any person to take, and shall cause its Affiliates and/or agents not to take, directly or indirectly, any stabilization action or any action which is designed to or which constitutes or which might be expected to cause or result in the stabilization or maintenance of the price of any security of the Company (which, for the avoidance of doubt, does not include the exercise of the Over-allotment Option).

6.2 **Stabilizing losses and profits:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.1 All profits or gains, and all liabilities,
 expenses and losses, arising from stabilizing activities and transactions effected by the
 Stabilizing Manager or any person acting for it as stabilizing manager shall be for the respective
 accounts of the Overall Coordinators and/or the International Underwriters upon and subject
 to the terms and conditions of the agreement among International Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.2 The Company shall not be responsible
 for any liabilities, expenses and losses and shall not be entitled to any profit arising
 from stabilizing activities and transactions effected by the Stabilizing Manager or any person
 acting for it as stabilizing manager.

6.3 **No stabilization by the Warrantors:** Each of the Warrantors undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 the Hong Kong Underwriters and each of them that, it/he will not, and will cause its/his
 Affiliates or any of its/his or its/his Affiliates' respective directors, officers,
 employees or any person acting on its behalf or on behalf of any of the foregoing persons
 not to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.1 take or facilitate, directly or indirectly,
 any action which is designed to or which has constituted or which might reasonably be expected
 to cause or result in stabilization or manipulation of the price of any securities of the
 Company to facilitate the sale or resale of any security of the Company or otherwise in violation
 of applicable Laws (including but not limited to the Securities and Futures (Price Stabilizing)
 Rules); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.2 take, directly or indirectly, any action
 which would constitute a violation of the market misconduct provisions of Parts XIII and
 XIV of the Securities and Futures Ordinance; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.3 take or omit to take, directly or indirectly,
 any action which may result in the loss by the Stabilizing Manager or any person acting for
 it as stabilizing manager of the ability to rely on any stabilization safe harbor provided
 by the Securities and Futures (Price Stabilizing) Rules under the Securities and Futures
 Ordinance or otherwise.

provided that the granting and exercising of the Over-allotment Option pursuant to this Agreement and the International Underwriting Agreement and the lending of Shares by Humber Partners Limited and/or Yanli Holdings Limited pursuant to the Stock Borrowing Agreement shall not constitute a breach of this Clause 6.3.

---

| | |
|:---|:---|
| **7** | **COMMISSIONS AND COSTS** |

---

7.1 **Underwriting commission:** Subject to
 the provisions of this Clause 7, the Company shall pay to the Overall Coordinators (for themselves
 and on behalf of the Hong Kong Underwriters) an underwriting commission equal to 2.0% (if
 the offering size (before the exercise of over-allotment option) is more than US$250 million
 but no more than US$500 million) or 2.5% (if the offering size (before the exercise of over-allotment
 option) is no more than US$250 million) of the aggregate Hong Kong Offer Price in respect
 of all of the Hong Kong Offer Shares (excluding such Offer Shares reallocated to and from
 the Hong Kong Public Offering pursuant to Clause 4) (the "**Underwriting Commission** ").
 For the avoidance of doubt, no underwriting commission in respect of any International Offer
 Shares reallocated to the Hong Kong Public Offering and any Hong Kong Offer Shares reallocated
 to the International Offering, in each case pursuant to Clauses 4.11 and 4.12, respectively,
 shall be paid to the Hong Kong Underwriters as the relevant underwriting commission relating
 to such Offer Shares will be payable to the International Underwriters in accordance with
 the International Underwriting Agreement. The respective entitlements of the Hong Kong Underwriters
 to the Underwriting Commission will be determined in the International Underwriting Agreement,
 provided that (a) any allocation of the Underwriting Commission to the Overall Coordinators
 shall be no less favorable than as set out in the OC Engagement Letter and in compliance
 with the Listing Rules, the Code of Conduct and Frequently Asked Questions No. 077-2022
 published by the Stock Exchange; and (b) any adjustment to the allocation of the Underwriting
 Commission to each CMI as set out in the respective CMI Engagement Letter shall be in compliance
 with the Listing Rules, the Code of Conduct and Frequently Asked Questions No. 077-2022
 published by the Stock Exchange.

7.2 **Incentive fee:** The Company may, at
 its sole and absolute discretion, pay any one or all of the Hong Kong Underwriters an additional
 incentive fee (the "**Incentive Fee**") of up to 1.5% of the aggregate Hong
 Kong Offer Price in respect of all of the Hong Kong Offer Shares (excluding any International
 Offer Shares reallocated to the Hong Kong Public Offering and any Hong Kong Offer Shares
 reallocated to the International Offering, in each case pursuant to Clauses 4.11 and 4.12,
 respectively). The actual absolute amount of the Incentive Fee (if any) and the split of
 the Incentive Fee (if any), in absolute amount, among all Underwriters, shall be determined
 and communicated to each CMI at or around the Price Determination Date and to be set out
 in the International Underwriting Agreement (but in any event before the submission to the
 Stock Exchange the declaration to be signed by a Director and the secretary of the Company
 in the form set out in Form F (published in the "Regulatory Forms" section
 of the Stock Exchange's website) on FINI), in accordance with such engagement letters
 between the Company and the respective Overall Coordinator or CMI and in compliance with
 the Code of Conduct and the requirements under the Listing Rules.

7.3 **Sponsor fee and other fees and expenses**:
 Any sponsor fee previously paid by the Company to the Joint Sponsors will be credited against
 and deducted from the Underwriting Commission payable to the Joint Sponsors, and any unpaid
 portion of the sponsor fee shall be deemed to be settled upon payment of such Underwriting
 Commission to the Joint Sponsors pursuant to and in accordance with the terms of the Sponsors
 and Sponsor-OC Mandates. The Company shall pay to the Joint Sponsors any remaining payable
 out-of-pocket expenses actually incurred by the Joint Sponsors (subject to the cap as specified
 in their respective Sponsors and Sponsor-OC Mandate) pursuant to and in accordance with the
 terms of the Sponsors and Sponsor-OC Mandates and upon presentation of reasonable invoice
 and/or breakdown of such expenses.

7.4 **Other costs payable by the Company:** All fees, costs, charges, Taxation and expenses of, in connection with or incidental to the
 Global Offering, the listing of the Class A Ordinary Shares on the Main Board of the
 Stock Exchange and this Agreement, and the transactions contemplated thereby or hereby including,
 without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.1 fees, disbursements and expenses of
 the Reporting Accountants in accordance with the arrangement letter entered into between
 the Company and the Reporting Accountants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.2 fees, disbursements and expenses of
 any transfer agent or registrar for the Class A Ordinary Shares, any service provider
 appointed by the Company in connection with White Form eIPO Service, and the process
 agent referred to in Clause 18.6 hereof in accordance with the respective engagement letters
 entered into between the Company and such transfer agent or registrar, service provider of
 White Form eIPO Service and process agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.3 fees, disbursements and expenses of
 all Legal Advisers to the Company or the Underwriters in accordance with the respective engagement
 letters or fee arrangement letters entered into between the Company and such Legal Advisers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.4 fees, disbursements and expenses of
 any public relations consultants engaged by the Company in accordance with the engagement
 letter between the Company and such public relations consultants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.5 fees, disbursements and expenses of
 the Internal Control Consultant and the Industry Consultant in accordance with the respective
 engagement letters entered into between the Company and such Internal Controls Consultant
 and Industry Consultant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.6 fees, disbursements and expenses of
 any translators engaged by the Company in accordance with the engagement letter entered into
 between the Company and such translators;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.7 fees, disbursements and expenses of
 the Receiving Bank and the Nominee in accordance with the Receiving Bank Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.8 fees, disbursements and expenses of
 the financial printer engaged by the Company in accordance with the engagement letter entered
 into between the Company and such financial printer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.9 fees and expenses of other agents, third
 party service providers, consultants and advisers engaged by the Company relating to the
 Global Offering in in accordance with the respective engagement letters or fee letters entered
 into between the Company and such agents, third party service providers, consultants and
 advisers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.10 fees and expenses related to the application
 for listing of and permission to deal in the Class A Ordinary Shares on the Main Board
 of the Stock Exchange, the filing or registration of any documents (including, without limitation,
 the Hong Kong Public Offering Documents, the CSRC Filings and any amendments and supplements
 thereto) with any relevant Authority (including, without limitation, the Registrar of Companies
 in Hong Kong and the CSRC) and the qualification of the Offer Shares in any jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.11 all costs and expenses for roadshow
 (including pre-deal or non-deal roadshow), pre-marketing or investor education activities,
 and presentations or meetings undertaken in connection with the marketing of the offering
 and sale of the Offer Shares to prospective investors, including without limitation, expenses
 associated with the production of the slides and graphics for the Investor Presentation Materials,
 and all fees, disbursements and expenses of any consultants engaged in connection with the
 Investor Presentation Materials, documentary, travel, lodging and other fees and expenses
 incurred by the Company, the Overall Coordinators, the Joint Global Coordinators, the CMIs
 and the Underwriters subject to, if any, the respective engagement letters entered into between
 the Company and the respective Overall Coordinators, the Joint Global Coordinators, the CMIs
 and the Underwriters (as the case may be), or otherwise approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.12 all printing, document production,
 courier and advertising costs in relation to the Global Offering approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.13 all costs of preparation, despatch
 and distribution of the Offering Documents in all Relevant Jurisdictions, and all amendments
 and supplements thereto approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.14 all costs of preparation, printing
 or production of this Agreement, the International Underwriting Agreement, the agreement
 among Hong Kong Underwriters, the agreement among International Underwriters, the agreement
 among syndicates, closing documents (including compilations thereof) and any other documents
 in connection with the offering, purchase, sale and delivery of the Offer Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.15 all costs and expenses for printing
 and distribution of research reports, and conducting the syndicate analysts' briefing
 and other presentations relating to the Global Offering approved by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.16 all costs of preparation, despatch
 and distribution (including transportation, packaging and insurance) of share certificates,
 letters of regret and refund cheques;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.17 the Trading Fee, the SFC Transaction
 Levy and the AFRC Transaction Levy payable by the Company, all capital duty (if any), premium
 duty (if any), stamp duty (if any), Taxation, levy and other fees, costs and expenses payable
 in respect of the creation, issue, allotment, sale, distribution and delivery of the Hong
 Kong Offer Shares, the Hong Kong Public Offering, the execution and delivery of and the performance
 of any provisions of this Agreement or otherwise in connection with the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.18 all costs and expenses related to the
 press conferences of the Company in relation to the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.19 all stock admission fees, processing
 charges and related expenses payable to HKSCC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.20 all CCASS transaction fees payable
 in connection with the Global Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4.21 all fees and expenses related to background
 check and searches, company searches, litigation and legal proceeding searches, bankruptcy
 and insolvency searches and directorship searches and other searches conducted in connection
 with the Global Offering approved by the Company;

shall be borne by the Company but subject to terms and conditions under the engagement letters entered into between the Company and relevant parties (including but not limited to the Joint Sponsors and the Overall Coordinators) before the date of this Agreement, and the Company shall, and the Single Largest Group of Shareholders shall procure the Company to, pay or cause to be paid all such fees, costs, charges, Taxation and expenses. Notwithstanding anything to the contrary in Clause 19.12, if any costs, expenses, fees or charges referred to in this Clause 7.4 is paid or to be paid by any of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters for or on behalf of the Company, the Company shall, and the Single Largest Group of Shareholders shall procure the Company to, reimburse such costs, expenses, fees or charges to the relevant Joint Sponsor, Sponsor-OC, Overall Coordinator, Joint Global Coordinator, CMI, Joint Bookrunner, Joint Lead Manager or Hong Kong Underwriter (subject to the cap as stated in the engagement letters entered into between the Company and relevant parties) on an after-tax basis.

7.5 **Costs and expenses payable in case the Global Offering does not proceed:** If this Agreement shall be rescinded or terminated
 or shall not become unconditional or, for any other reason, the Global Offering is not completed,
 the Company shall not be liable to pay any Underwriting Commission and Incentive Fee under
 Clauses 7.1 and 7.2, but the Company shall, and the Single Largest Group of Shareholders
 shall procure the Company to, pay or reimburse or cause to be paid or reimbursed to the relevant
 parties, all costs, fees, charges, Taxation and expenses referred to in Clauses 7.3 and 7.4
 which have been incurred or are liable to be paid by the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers and/or the Hong Kong Underwriters and all other costs, fees, charges,
 Taxation and expenses payable by the Company pursuant to Clauses 7.3 and 7.4 within 15 business
 days of the first written request by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 the Hong Kong Underwriters or the relevant party which incurred the costs, fees, charges,
 Taxation and expenses, as the case may be, in accordance with the engagement letters entered
 into between the Company and relevant parties before the date of this Agreement.

7.6 **Time of payment of costs:** All commissions,
 fees, costs, charges and expenses referred to in this Clause 7 shall, except as otherwise
 provided in this Clause 7, if not so deducted pursuant to Clause 5.2, be payable by the Company
 in accordance with the engagement letter or agreement entered into by the Company and the
 relevant parties, or in the absence of such engagement letter or agreement, within 15 business
 days of the first written request by the Overall Coordinators.

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| | |
|:---|:---|
| **8** | **REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS** |

---

8.1 **Warranties:** Each of the Warrantors
 hereby jointly and severally represents, warrants, agrees and undertakes with respect to
 each of the Warranties in Part A of Schedule 2 hereto, and each member of the Single
 Largest Group of Shareholders hereby jointly and severally represents, warrants, agrees and
 undertakes with respect to each of the Warranties in Part B of Schedule 2 hereto, to
 the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and
 each of them that each of the Warranties is true, accurate and not misleading as at the date
 of this Agreement, and each of the Warrantors acknowledges that each of the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters is entering into this
 Agreement in reliance upon the Warranties.

8.2 **Warranties repeated:** The Warranties
 are given on and as at the date of this Agreement with respect to the facts and circumstances
 subsisting as at the date of this Agreement. In addition, the Warranties shall be deemed
 to be repeated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.1 on the date of registration of the Hong
 Kong Prospectus by the Registrar of Companies in Hong Kong as required by section 342C of
 the Companies (Winding up and Miscellaneous Provisions) Ordinance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2 on the Hong Kong Prospectus Date and
 the date(s) of supplemental Hong Kong Prospectus(es) (if any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.3 on the Acceptance Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.4 on the Price Determination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.5 immediately prior to the Time of Sale
 (as defined in the International Underwriting Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.6 immediately prior to (i) the delivery
 by the Overall Coordinators and/or the other Hong Kong Underwriters of duly completed applications,
 and (ii) payment by the Overall Coordinators and/or the other Hong Kong Underwriters
 for the Hong Kong Offer Shares to be taken up, respectively, pursuant to Clause 4.6 and/or
 Clause 4.10 (as the case may be);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.7 the Announcement Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.8 immediately prior to 8:00 a.m. on
 the Listing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.9 immediately prior to commencement of
 dealings in the Offer Shares on the Main Board of the Stock Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.10 the date(s) on which the Over-allotment
 Option (or any part thereof) is exercised;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.11 the date on which any subscription
 of Offer Shares pursuant to any exercise of the Over-allotment Option is completed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.12 the date on which the stabilization
 period expires,

in each case with reference to the facts and circumstances then subsisting, provided, however, that all of the Warranties shall remain true, accurate and not misleading as at each of the dates or times specified above, without taking into consideration in each case any amendment or supplement to the Offering Documents or the CSRC Filings made or delivered under Clause 8.5 subsequent to the date of the registration of the Hong Kong Prospectus, or any approval by the Joint Sponsors and/or the Overall Coordinators, or any delivery to investors, of any such amendment or supplement, and shall not be (or be deemed) updated or amended by any such amendment or supplement or by any such approval or delivery. For the avoidance of doubt, nothing in this Clause 8.2 shall affect the on-going nature of the Warranties.

8.3 **Notice of breach of Warranties:** Each
 of the Warrantors hereby undertakes to promptly notify the Joint Sponsors and the Overall
 Coordinators (for themselves and on behalf of the Hong Kong Underwriters) in writing if it
 comes to its/his knowledge that any of the Warranties is untrue, inaccurate, misleading or
 breached in any respect or ceases to be true and accurate or becomes misleading or breached
 in any respect, at any time up to the last to occur of the dates specified in Clause 8.2,
 or if it/he becomes aware of any event or circumstances which would or might cause any of
 the Warranties to become untrue, inaccurate or misleading in any respect, or any significant
 new factor likely to materially and adversely affect the Global Offering which arises between
 the date of this Agreement and the Listing Date and which comes to the attention of any of
 the Warrantors (as the case may be).

8.4 **Undertakings not to breach Warranties:** Each of the Warrantors hereby undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead
 Managers, and the Hong Kong Underwriters not to, and shall procure that any other Group Company
 shall not, do or omit to do anything or permit to occur any event which would or might render
 any of the Warranties untrue, incorrect, misleading or breached in any respect at any time
 up to the last to occur of the dates specified in Clause 8.2 or which could materially and
 adversely affect the Global Offering. Without prejudice to the foregoing, each of the Warrantors
 agrees not to make any amendment or supplement to the Offering Documents, the CSRC Filings
 or any of them without the prior approval of the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Hong Kong Underwriters) (such consent not to be unreasonably
 withheld).

8.5 **Remedial action and announcements:** Each of the Warrantors shall notify the Joint Sponsors and the Overall Coordinators, promptly
 if at any time, by reference to the facts and circumstances then subsisting, on or prior
 to the last to occur of the dates on which the Warranties are deemed to be given pursuant
 to Clause 8.2, (i) any event shall occur or any circumstance shall exist which renders
 or could render untrue or inaccurate or misleading or breached in any respect any of the
 Warranties or gives rise or could give rise to a claim under any of the indemnities as contained
 in or given pursuant to this Agreement; or (ii) any event shall occur or any circumstance
 shall exist which would or might (1) render untrue, inaccurate or misleading any statement,
 whether fact or opinion, contained in the Offering Documents, the CSRC Filings or any of
 them; or (2) result in the omission of any fact which is material for disclosure or
 required by applicable Laws to be disclosed in the Offering Documents, the CSRC Filings or
 any of them, if the same were issued immediately after occurrence of such event or existence
 of such circumstance; or (iii) it shall become necessary or desirable for any other
 reason to amend or supplement any of the Offering Documents or CSRC Filings; or (iv) any
 significant new factor likely to affect the Hong Kong Public Offering or the Global Offering
 shall arise, and, in each of the cases described in paragraphs (i) through (iv) above,
 without prejudice to any other rights of the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, Joint Lead
 Managers, the Hong Kong Underwriters or any of them under this Agreement, the Company, at
 its own expense, shall promptly take such remedial action as may be reasonably required by
 the Joint Sponsors and/or the Overall Coordinators, including promptly preparing, announcing,
 issuing, publishing, distributing or otherwise making available, at the Company's expense,
 such amendments or supplements to the Offering Documents, the CSRC Filings or any of them
 as the Joint Sponsors and the Overall Coordinators may reasonably require and supplying the
 Joint Sponsors and the Overall Coordinators (on behalf of themselves and the Hong Kong Underwriters)
 or such persons as they may direct, with such number of copies of such amendments or supplements
 as they may reasonably require. For the avoidance of doubt, the consent or approval of the
 Joint Sponsors and/or the Overall Coordinators for the Company to take any such remedial
 action shall not (i) constitute a waiver of, or in any way affect, any right of the
 Joint Sponsors, the Overall Coordinators or any other Hong Kong Underwriters under this Agreement
 in connection with the occurrence or delivery of such matter, event or fact , or (ii) result
 in the loss of the Joint Sponsors', the Sponsor-OCs', the Overall Coordinators',
 the Joint Global Coordinators', the CMIs', the Joint Bookrunners', the
 Joint Lead Managers' or the Hong Kong Underwriters' rights to terminate this
 Agreement (whether by reason of such misstatement or omission resulting in a prior breach
 of any of the Warranties or otherwise).

Each of the Warrantors agrees not to issue, publish, distribute or make publicly available any such announcement, circular, supplement, amendment or document or do any such act or thing without the prior written consent of the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) (such consent not to be unreasonably withheld), except as required by Laws, in which case the relevant Warrantor shall first consult the Joint Sponsors and the Overall Coordinators before such issue, publication or distribution or act or thing being done.

8.6 **Warrantors' Knowledge:** A reference
 in this Clause 8 or in Schedule 2 to a Warrantor's knowledge, information, belief or
 awareness or any similar expression shall be deemed to include an additional statement that
 it has been made after due and careful enquiry and that such Warrantor (if an individual)
 or the directors of such Warrantor (if a legal entity) has/have used his/their best endeavors
 to ensure that all information given in the relevant Warranty is true, complete and accurate
 and not misleading or deceptive. Notwithstanding that any of the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers and the Hong Kong Underwriters has knowledge or has conducted investigation
 or enquiry with respect to the information given under the relevant Warranty, the rights
 of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters under
 this Clause 8 shall not be prejudiced by such knowledge, investigation and/or enquiry.

8.7 **Obligations personal:** The obligations
 of each of the Warrantors under this Agreement shall be binding on its/his personal representatives
 or its/his successors in title.

8.8 **Release of obligations:** Any liability
 to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers, the Hong Kong Underwriters or any
 of them hereunder may in whole or in part be released, compounded or compromised and time
 or indulgence may be given by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 the Hong Kong Underwriters or any of them as regards any person under such liability without
 prejudicing the rights of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers or
 the Hong Kong Underwriters (or the rights of any of the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers and the Hong Kong Underwriters) against any other person under the
 same or a similar liability.

8.9 **Consideration:** Each of the Warrantors
 has entered into this Agreement, and agreed to give the representations, warranties, agreements
 and undertakings herein, in consideration of the Joint Sponsors, the Sponsor-OCs, the Overall
 Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead
 Managers and the Hong Kong Underwriters agreeing to enter into this Agreement on the terms
 set out herein.

8.10 **Full force:** For the purpose of this
 Clause 8:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10.1 the Warranties shall remain in full
 force and effect notwithstanding the completion of the Global Offering and the matters and
 arrangements referred to or contemplated in this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10.2 if an amendment or supplement to the
 Offering Documents or any of them is announced, issued, published, distributed or otherwise
 made available after the date hereof pursuant to Clause 8.5 or otherwise, the Warranties
 relating to any such documents given pursuant to this Clause 8 shall be deemed to be repeated
 on the date of such amendment or supplement, and, when so repeated, the Warranties relating
 to any such documents shall be read and construed subject to the provisions of this Agreement
 as if the references therein to such documents means such documents when read together with
 such amendment or supplement.

8.11 **Separate Warranties**: Each Warranty
 shall be construed separately and independently and shall not be limited or restricted by
 reference to or inference from the terms of any other of the Warranties or any other term
 of this Agreement.

---

| | |
|:---|:---|
| **9** | **INDEMNITY** |

---

9.1 **No claims against Indemnified Parties:** No claim (whether or not any such claim involves or results in any action, suit or proceeding)
 shall be made against any Indemnified Party by, and no Indemnified Party shall be liable
 to (whether direct or indirect, in contract, tort or otherwise and whether or not related
 to third party claims or the indemnification rights referred to in this Clause 9), the Indemnifying
 Parties to recover any of the losses, liabilities, damages, payments, costs (including legal
 costs), charges, fees and expenses ()"**Losses**") or Taxation which the Indemnifying
 Parties may suffer or incur by reason of or in any way arising out of: (i) the carrying
 out by any of the Indemnified Parties of any act in connection with the transactions contemplated
 herein and in the Hong Kong Public Offering Documents, the performance by the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters of their obligations hereunder
 or otherwise in connection with the Hong Kong Public Offering; (ii) the offer, allotment,
 issue, sale or delivery of the Hong Kong Offer Shares, the preparation or despatch of the
 Hong Kong Public Offering Documents; or (iii) any liability or responsibility whatsoever
 for any alleged insufficiency of the Hong Kong Offer Price, International Offer Price
 or any dealing price of the Offer Shares.

9.2 **Indemnity:** Each of the Indemnifying
 Parties undertakes, from time to time, jointly and severally, to indemnify, defend, hold
 harmless and keep fully indemnified (on an after-Taxation basis), on demand, each such Indemnified
 Party against (i) all Proceedings whether made, brought or threatened to be instituted,
 made or brought against (jointly or severally), or otherwise involving any Indemnified Party,
 and (ii) all Losses (including, without limitation, all payments, costs and expenses
 arising out of or in connection with the investigation, response to, defense or settlement
 or compromise of any such Proceedings or the enforcement of any such settlement or compromise
 or any judgment obtained in respect of any such Proceedings) which, jointly or severally,
 any Indemnified Party may suffer or incur and which, directly or indirectly, arise out of
 or are in connection with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.1 the issue, publication, distribution,
 use or making available of any of the Offering Documents, the Application Proof, the PHIP,
 the CSRC Filings, notices, announcements, advertisements, communications, Investor Presentation
 Materials or other documents issued by or on behalf of the Company relating to or connected
 with the Global Offering, and any amendments or supplements thereto (in each case, whether
 or not approved by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint
 Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers, the Hong Kong
 Underwriters or any of them) (collectively, the "**Related Public Information** ");
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.2 any of the Related Public Information
 containing any untrue, incorrect or inaccurate or alleged untrue statement of a fact, or
 omitting or being alleged to have omitted a fact necessary to make any statement therein,
 in the light of the circumstances under which it was made, not misleading, or not containing,
 or being alleged not to contain, all information material in the context of the Global Offering
 or otherwise required to be contained thereto, save for the respective marketing name, legal
 name, and address of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint
 Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong
 Kong Underwriters; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.3 any statement, estimate, forecast or
 expression of opinion, intention or expectation contained in the Related Public Information,
 being or alleged to be untrue, inaccurate or misleading in any respect, or based on an unreasonable
 assumption, or any omission or alleged omission to state therein a fact necessary in order
 to make the statements therein, in light of the circumstances under which they were made,
 not misleading; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.4 the execution, delivery and performance
 by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers, the Hong Kong Underwriters or any
 of them of their or its obligations and roles under this Agreement, the Offering Documents
 or the Listing Rules or in connection with the Global Offering, including but not limiting
 to their respective roles and responsibilities under the Code of Conduct as a Sponsor-OC,
 Overall Coordinator, CMI or otherwise, as applicable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.5 the execution, delivery or performance
 of this Agreement by the Warrantors and/or the offer, allotment, issue, sale or delivery
 of the Offer Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.6 any breach or alleged breach on the
 part of the Warrantors resulting in a breach of any of the provisions of this Agreement,
 the Price Determination Agreement, the Articles of Association, the International Underwriting
 Agreement or any other agreements in connection with the Global Offering to which it is or
 is to be a party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.7 any of the Warranties being untrue,
 inaccurate or misleading in any respect or having been breached in any respect or being alleged
 to be untrue or inaccurate or misleading in any respect or alleged to have been breached
 in any respect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.8 any breach or alleged breach of the
 Laws of any country or territory resulting from the issue, publication, distribution or making
 available of any of the Related Public Information and/or any offer, sale or distribution
 of the Offer Shares otherwise than in accordance with and on the terms of those documents,
 this Agreement and the International Underwriting Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.9 any act or omission of any Group Company
 or any of the Warrantors in relation to the Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.10 the Global Offering or any of the Offering
 Documents and the CSRC Filings failing or being alleged to fail to comply with the requirements
 of the Listing Rules, the Code of Conduct, the CSRC Rules or any Laws of any applicable
 jurisdiction, or any condition or term of any Approvals and Filings in connection with the
 Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.11 any failure or alleged failure by the
 Company, any member of the Single Largest Group of Shareholders, any of the Directors of
 the Company to comply with their respective obligations under the Listing Rules, the Articles
 of Association, the CSRC Rules or applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.12 any breach or alleged breach by any
 Group Company or any of the Warrantors of the applicable Laws in any material respect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.13 any Proceeding in connection with the
 Global Offering having commenced or being threatened, or settlement of any such Proceeding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.14 any breach or alleged breach by any
 of the Warrantors of the terms and conditions of the Hong Kong Public Offering, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.15 any other matters arising in connection
 with the Global Offering.

provided that the indemnity provided for Clause 9.2.4 shall not apply in respect of any Indemnified Party if any such Loss incurred by such Indemnified Party is finally judicially determined by a court of competent jurisdiction or an arbitral tribunal to have resulted solely from the gross negligence, wilful default or fraud on the part of such Indemnified Party. The non-application of the indemnity provided for in Clause 9 in respect of any Indemnified Party shall not affect the application of such indemnity in respect of any other Indemnified Parties.

9.3 **Notice of claims**: If any of the Warrantors
 becomes aware of any claim which may give rise to a liability under the indemnity provided
 under Clause 9.2, it/he shall promptly give notice thereof to the Overall Coordinators (for
 themselves and on behalf of other Indemnified Party) in writing with reasonable details thereof.

9.4 **Conduct of claims:** If any Proceeding
 is instituted in respect of which the indemnity provided for in this Clause 9 may apply,
 such Indemnified Party shall, subject to any restrictions imposed by any Laws or obligation
 of confidentiality, notify the Indemnifying Parties of the institution of such Proceeding,
 provided, however, that the omission to so notify the Indemnifying Parties shall not relieve
 the Indemnifying Parties from any liability which they may have to any Indemnified Party
 under this Clause 9 or otherwise. The Indemnifying Parties may participate at their expense
 in the defense of such Proceedings including appointing counsel at their expense to act for
 them in such Proceedings; provided, however, except with the consent of the Overall Coordinators
 (for themselves and on behalf of any Indemnified Parties), that counsel to the Indemnifying
 Parties shall not also be counsel to the Indemnified Parties. Unless the Overall Coordinators
 (for themselves and on behalf of any Indemnified Parties) consent to counsel to the Indemnifying
 Parties acting as counsel to such Indemnified Parties in such Proceeding, the Overall Coordinators
 (for themselves and on behalf of such Indemnified Parties) shall have the right to appoint
 their own separate counsel (in addition to any local counsel) in such Proceeding. The fees
 and expenses of separate counsel to any Indemnified Parties shall be borne by the Indemnifying
 Parties and paid as incurred, with the documents showing the payment so incurred (if any,
 and to the extent reasonably practicable) being furnished to the Company at the Company's
 request.

9.5 **Settlement of claims:** No Indemnifying
 Party shall, without the prior written consent of an Indemnified Party, effect, make, propose
 or offer any settlement or compromise of, or consent to the entry of any judgment with respect
 to, any current, pending or threatened Proceeding in respect of which any Indemnified Party
 is or could be or could have been a party and indemnity or contribution could be or could
 have been sought hereunder by such Indemnified Party, unless such settlement, compromise
 or consent judgment includes an unconditional release of such Indemnified Party, in form
 and substance satisfactory to such Indemnified Party, from all liability on claims that are
 the subject matter of such Proceeding and does not include any statement as to or any admission
 of fault, culpability or a failure to act by or on behalf of such Indemnified Party. Any
 settlement or compromise by any Indemnified Party, or any consent by any Indemnified Party
 to the entry of any judgment, in relation to any Proceeding shall be without prejudice to,
 and without (other than any obligations imposed on it by Laws) any accompanying obligation
 or duty to mitigate the same in relation to, any Loss it may recover from, or any Proceeding
 it may take against, the Indemnifying Parties under this Agreement. The Indemnifying Parties
 shall be liable for any settlement or compromise by the Indemnified Party of, or any judgment
 consented to by any Indemnified Party with respect to, any pending or threatened Proceeding,
 whether effected with or without the consent of the Indemnifying Parties, and agree to indemnify
 and hold harmless the Indemnified Party from and against any loss or liability by reason
 of such settlement, or compromise or consent judgement. The Indemnified Parties shall, to
 the extent legally permissible and practicable, notify but are not required to obtain consent
 from the Indemnifying Parties with respect to such settlement or compromise or consent to
 judgment. The rights of the Indemnified Parties herein are in addition to any rights that
 each Indemnified Party may have at Law or otherwise, and the obligations of the Indemnifying
 Parties shall be in addition to any liability which the Indemnifying Party may otherwise
 have.

9.6 **Arrangements with advisers:** If any
 Indemnifying Party enters into any agreement or arrangement with any adviser for the purpose
 of or in connection with the Global Offering, the terms of which provide that the liability
 of the adviser to the Indemnifying Party or any other person is excluded or limited in any
 manner, and any of the Indemnified Parties may have joint and/or several liability with such
 adviser to the Indemnifying Party or to any other person arising out of the performance of
 its duties under this Agreement, the Indemnifying Party shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6.1 not be entitled to recover any amount
 from any Indemnified Party which, in the absence of such exclusion or limitation, the Indemnifying
 Party would not have been entitled to recover from such Indemnified Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6.2 indemnify the Indemnified Parties in
 respect of any increased liability to any third party which would not have arisen in the
 absence of such exclusion or limitation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6.3 take such other action as the Indemnified
 Parties may require to ensure that the Indemnified Parties are not prejudiced as a consequence
 of such agreement or arrangement.

9.7 **Costs:** For the avoidance of doubt,
 the indemnity under this Clause 9 shall cover all Losses which any Indemnified Party may
 suffer, incur or pay in disputing, investigating, responding to, defending, settling or compromising,
 or enforcing any settlement, compromise or judgment obtained with respect to, any Proceedings
 to which the indemnity may relate and in establishing its right to indemnification under
 this Clause 9.

9.8 **Payment free from counterclaims/set-offs**:
 All payments made by any Indemnifying Party under this Clause 9 shall be made gross, free
 of any right of counterclaim or set off and without deduction or withholding of any kind,
 other than any deduction or withholding required by Laws. If the Indemnifying Party makes
 a deduction or withholding under this Clause 9, the sum due from the Indemnifying Party shall
 be increased to the extent necessary to ensure that, after the making of any deduction or
 withholding, the relevant Indemnified Party which is entitled to such payment receives a
 sum equal to the sum it would have received had no deduction or withholding been made.

9.9 **Payment on demand**: All amounts subject
 to indemnity under this Clause 9 shall be paid by the Indemnifying Parties as and when they
 are incurred within 15 Business Days of a written notice demanding payment being given to
 the Indemnifying Parties by or on behalf of the relevant Indemnified Party.

9.10 **Taxation**: If a payment under this
 Clause 9 will be or has been subject to Taxation, the Indemnifying Parties shall pay the
 relevant Indemnified Party on demand the amount (after taking into account any Taxation payable
 in respect of the amount and treating for these purposes as payable any Taxation that would
 be payable but for a relief, clearance, deduction or credit) that will ensure that the relevant
 Indemnified Party receives and retains a net sum equal to the sum it would have received
 had the payment not been subject to Taxation.

9.11 **Full force**: The foregoing provisions
 of this Clause 9 will continue in full force and effect notwithstanding the Global Offering
 becoming unconditional and having been completed and the matters and arrangements referred
 to or contemplated in this Agreement having been completed or the termination of this Agreement.

---

| | |
|:---|:---|
| **10** | **FURTHER UNDERTAKINGS** |

---

The Company undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and each of them that it will, and each member of the Single Largest Group of Shareholders shall undertake with respect to Clauses 10.2 and 10.8 and shall procure the Company to:

10.1 **Global Offering**: comply in a timely
 manner with the terms and conditions of the Global Offering and all obligations imposed upon
 it by the Companies Ordinance, the Companies (Winding up and Miscellaneous Provisions) Ordinance,
 the Securities and Futures Ordinance, the CSRC Rules, the Listing Rules and all applicable
 Laws and all applicable requirements of the Stock Exchange, the SFC, the CSRC or any other
 relevant Authority in respect of or by reason of the matters contemplated by this Agreement
 or otherwise in connection with the Global Offering, including, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.1 doing all such things as are necessary
 to ensure that Admission is obtained and not cancelled or revoked;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.2 making and obtaining all necessary
 Approvals and Filings (including the CSRC Filings) in relation to the Global Offering with
 and/or from the Registrar of Companies in Hong Kong, the Stock Exchange, the SFC, the CSRC
 and other relevant Authorities, including but not limited to lodging with the Stock Exchange
 all relevant documents, declarations and undertakings on FINI in such manner, form and time
 as required under the Listing Rules and all applicable rules, procedures, terms and
 conditions and guidance materials of the Stock Exchange and the HKSCC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.3 making available on display on Stock
 Exchange's website at <u>www.hkexnews.hk</u> and the Company's website at https://www.weride.ai,
 the documents referred to in the section of the Hong Kong Prospectus headed "Appendix
 V – Documents Delivered to the Registrar of Companies and available on Display"
 for the period stated therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.4 using its best endeavors to procure
 that the Share Registrar, the White Form eIPO Service Provider, the Receiving Bank and
 the Nominee shall comply in all respects with the terms of their respective appointments
 under the terms of the Registrar's Agreement and the Receiving Bank Agreement, and
 do all such acts and things as may be required to be done by them in connection with the
 Global Offering and the transactions contemplated therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.5 procuring that none of the Company,
 any member of the Group, the Single Largest Group of Shareholders, and/or any of their respective
 directors, supervisors, officers, employees, Affiliates and/or agents, shall (whether directly
 or indirectly, formally or informally, in writing or verbally) provide any material information,
 including forward looking information (whether qualitative or quantitative) concerning the
 Company or any member of the Group that is not, or is not reasonably expected to be, included
 in each of the Hong Kong Prospectus and the Preliminary Prospectus or publicly available,
 to any research analyst at any time up to and including the fortieth (40<sup>th</sup>) day
 immediately following the Price Determination Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.6 procuring that no Directors or their
 respective Close Associates will, itself/himself/herself (or through a company controlled
 by it/him/her) apply to subscribe for or purchase Hong Kong Offer Shares either in its/his/her
 own name or through nominees unless permitted to do so under the Listing Rules or having
 obtained the relevant waiver or consent from the Stock Exchange for such subscription, and
 if the Company shall become aware of any application or indication of interest for Hong Kong
 Offer Shares by any Directors or their respective Close Associates either in its/his/her
 own name or through a nominee, it shall forthwith notify the Joint Sponsors and the Overall
 Coordinators (for themselves and on behalf of the Hong Kong Underwriters);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.7 using or procuring the use of all of
 the net proceeds received by it pursuant to the Global Offering strictly in the manner specified
 in the section of the Hong Kong Prospectus headed "Future Plans and Use of Proceeds"
 (unless otherwise agreed to be changed in compliance with the Listing Rules and the
 requirements of the Stock Exchange, and no such change could be made without the consent
 of the Joint Sponsors and the Overall Coordinators during a period of 6 months from the Listing
 Date, and the Company shall provide reasonable prior notice and the details of such change
 (if any) to the Joint Sponsors and the Overall Coordinator), and not, directly or indirectly,
 using such proceeds, or lending, contributing or otherwise making available such proceeds
 to any member of the Group or other person or entity, for the purpose of funding, financing
 or facilitating any activities or business of or with any person or entity, or of, with or
 in any country or territory, that, at the time of such funding, financing or facilitating,
 is subject to any sanctions Laws, or in any other manner that will result in a violation
 by any individual or entity (including, without limitation, by the Underwriters) of any sanction
 Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.8 cooperating with and fully assisting,
 and procuring the members of the Group, the Single Largest Group of Shareholders, and/or
 any of their respective directors, officers, employees, Affiliates, agents, advisers, reporting
 accountants, auditors, legal counsels and other relevant parties engaged by the Company in
 connection with the Global Offering to cooperate with and fully assist, in a timely manner,
 each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters,
 to facilitate its performance of its duties and to meet its obligations and responsibilities
 under all applicable Laws from time to time in force, including but not limited to the provision
 of materials, information and documents to the Stock Exchange, the SFC, the CSRC and other
 regulators under the Code of Conduct, the Listing Rules and the CSRC Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.9 complying with the Listing Rules in
 relation to supplemental listing documents that may have to be issued in respect of the Global
 Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.10 from the date hereof until 5:00 p.m. on
 the date which is the 30<sup>th</sup> Business Day after the last day for lodging applications
 under the Hong Kong Public Offering, not (i) declaring, paying or otherwise making any
 dividend or distribution of any kind on its share capital except as otherwise disclosed in
 the Hong Kong Prospectus and the Registration Statement, nor (ii) changing or altering
 its capital structure (including but not limited to alteration to the nominal value of the
 Shares whether as a result of consolidation, sub-division or otherwise); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.11 that no preferential treatment has
 been, nor will be, given to any placee and its Close Associates by virtue of its relationship
 with the Company in any allocation of the placing tranche;

10.2 **Information**: provide:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.1 to the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers and the Hong Kong Underwriters all such information known to the
 Company or the Single Largest Group of Shareholders or which on due and careful enquiry ought
 to be known to the Company or the Single Largest Group of Shareholders and whether relating
 to the Group or the Company or any member of the Single Largest Group of Shareholders or
 otherwise as may be required by the Joint Sponsors or the Overall Coordinators (for themselves
 and on behalf of the Underwriters) in connection with the Global Offering for the purposes
 of complying with any requirements of applicable Laws (including, without limitation and
 for the avoidance of doubt, the requirements of the Stock Exchange, of the SFC, of the CSRC
 or of any other relevant Authority); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.2 to the Joint Sponsors and the Overall
 Coordinators (for themselves and on behalf of the Hong Kong Underwriters) any such other
 resolutions, consents, authorities, documents, opinions and certificates which are relevant
 in the context of the Global Offering owing to circumstances arising or events occurring
 after the date of this Agreement but before 8:00 a.m. on the Listing Date and as the
 Joint Sponsors and/or the Overall Coordinators may reasonably require.

10.3 **Restrictive covenants:** not, and procure
 that no other member of the Group will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.1 at any time after the date of this
 Agreement up to the last to occur of the dates on which the Warranties are deemed to be given
 pursuant to Clause 8.2, do or omit to do anything which causes or can reasonably be expected
 to cause any of the Warranties to be untrue, inaccurate or misleading in any respect at any
 time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.2 on or prior to the Listing Date, enter
 into any commitment or arrangement which, in the reasonable opinion of the Joint Sponsors
 and the Overall Coordinators, has or will or may result in a Material Adverse Effect or adversely
 affect the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.3 on or prior to the Listing Date, take
 any steps which, in the reasonable opinion of the Joint Sponsors and the Overall Coordinators,
 would be materially inconsistent with any statement or expression, whether of fact, policy,
 expectation or intention in the Hong Kong Prospectus and/or the CSRC Filings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.4 amend any of the terms of the appointments
 of the Share Registrar, the Nominee, the Receiving Bank and the White Form eIPO Service
 Provider without the prior written consent of the Joint Sponsors and the Overall Coordinators
 (such consent not to be unreasonably withheld);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.5 at any time after the date of this
 Agreement up to and including the Listing Date or the date on which the Over-allotment Option
 is exercised, if applicable, amend or agree to amend any constitutional document of the Company
 or any other Group Company, including, without limitation, the Articles of Association, save
 as requested by the Stock Exchange, the SFC, the CSRC or any other Authority which is entitled
 to exercise jurisdiction over the Company lawfully or pursuant to the requirements under
 the Listing Rules or allowing the Articles of Association that have been conditionally
 adopted by the Company to become effective upon Listing as described in the Hong Kong Prospectus
 or the proposed amendments to the Articles of Association set out in the Hong Kong Prospectus;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3.6 at any time after the date of this
 Agreement up to and including the Listing Date or the date on which the Over-allotment Option
 is exercised, without the prior written approval of the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Underwriters) (such consent not to be unreasonably withheld),
 issue, publish, distribute or otherwise make available directly or indirectly to the public
 any document (including any prospectus), material or information in connection with the Global
 Offering, or make any amendment to any of the Offering Documents and the CSRC Filings, or
 any amendment or supplement thereto, except for the Offering Documents and the CSRC Filings,
 any written materials agreed between the Company and the Joint Sponsors and the Overall Coordinators
 (for themselves and on behalf of the Underwriters) to be made available during any selective
 marketing of the International Offer Shares or as otherwise provided pursuant to the provisions
 of this Agreement, provided that, any approval given should not constitute a waiver of any
 rights granted to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint
 Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and/or the
 Hong Kong Underwriters under this Agreement;

10.4 **Maintaining listing**: maintain a listing
 for and will refrain from taking any action that could jeopardize the listing status of,
 the Class A Ordinary Shares on the Main Board of the Stock Exchange, and comply with
 the Listing Rules and all requirements of the Stock Exchange and the SFC, for at least
 one year after all of the Conditions have been fulfilled (or waived) except following a withdrawal
 of such listing which has been approved by the relevant shareholders of the Company in accordance
 with the Listing Rules or following an offer (within the meaning of the Hong Kong Codes
 on Takeovers and Mergers and Share Buy-backs) for the Company becoming unconditional;

10.5 **Legal and regulatory compliance:** unless
 otherwise waived or exempted by the relevant Authorities, comply with all applicable Laws
 (including, without limitation and for the avoidance of doubt, the rules, regulations and
 requirements of the Stock Exchange, the SFC, the CSRC and any other Authority), including,
 without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.1 complying with the Listing Rules and
 all applicable rules, procedures, terms and conditions and guidance materials of the Stock
 Exchange and the HKSCC in relation to application procedures and requirements for new listing,
 and adopting FINI for admission of trading and the collection of specified information on
 subscription and settlement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.2 complying with the Listing Rule requirement
 to document the rationale behind the Company's decision on allocation and pricing,
 in particular where the decision is contrary to the advice, recommendation(s) and/or
 guidance of the Overall Coordinators in accordance with paragraph 19 of Appendix F1 to the
 Listing Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.3 complying with and procuring its Directors
 to comply with their obligations to assist the syndicate members in accordance with Rule 3A.46
 of the Listing Rules, including but not limited to keeping the syndicate members informed
 of any material changes to information provided under Rule 3A.46(1) of the Listing
 Rules as soon as it becomes known to the Company and its Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.4 notifying the Stock Exchange and providing
 it with the updated information and reasons for any material changes to the information provided
 to the Stock Exchange under Rule 9.11 of the Listing Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.5 submitting to the Stock Exchange, as
 soon as practicable before the commencing of dealings in the Class A Ordinary Shares
 on the Stock Exchange, the declaration to be signed by a Director and the secretary of the
 Company in the form set out in Form F (published in the "Regulatory Forms"
 section of the Stock Exchange's website) via FINI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.6 procuring that the audited consolidated
 accounts of the Company for its financial year ending December 31, 2025 will be prepared
 on a basis consistent in all material respects with the accounting policies adopted for the
 purposes of the financial statements contained in the report of the Reporting Accountants
 set out in Appendix I to the Hong Kong Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.7 at all times adopting and upholding
 a securities dealing code no less exacting than the "Model Code for Securities Transactions
 by Directors of Listed Issuers" set out in Appendix C3 to the Listing Rules and
 procuring that the Directors uphold, comply and act in accordance with the provisions of
 the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.8 complying with the Listing Rules, the
 CSRC Filing Rules, Part XIVA of the Securities and Futures Ordinance and/or any other
 applicable Laws to disclose by way of announcement or otherwise and disseminate to the public,
 under certain circumstances, information affecting the information contained in the Hong
 Kong Prospectus and/or any information required by the CSRC, the Stock Exchange, the SFC
 or any other relevant Authority to be announced and disseminated to the public;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.9 complying with all applicable Laws
 (including, without limitation, the CSRC Archive Rules) in connection with (A) the establishment
 and maintenance of adequate and effective internal control measures and internal systems
 for maintenance of data protection, confidentiality and archive administration; (B) the
 relevant requirements and approval and filing procedures in connection with its handling,
 disclosure, transfer and retention of transfer of state secrets and working secrets of government
 agencies or any other documents or materials that would otherwise be detrimental to national
 securities or public interest (the "**Relevant Information** "); and (C) maintenance
 of confidentiality of any Relevant Information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.10 where there is any material information
 that shall be reported to the CSRC pursuant to the applicable Laws (including but not limited
 to the CSRC Rules), promptly notifying the CSRC or the relevant Authority in the PRC and
 providing it with such material information in accordance with to the applicable Laws, and
 promptly notifying the Joint Sponsors and the Overall Coordinators (for themselves and on
 behalf of the Underwriters) of such material information to the extent permitted by the applicable
 Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.11 for one year after the Listing Date,
 keeping the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of
 the Underwriters) informed of any material change to the information previously given to
 the CSRC, the Stock Exchange, the SFC or of any other relevant Authority, and to enable the
 Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Underwriters)
 to provide (or procuring their provision) to the CSRC, the Stock Exchange, the SFC or any
 such relevant Authority, in a timely manner, such information as the CSRC, the Stock Exchange,
 the SFC or any such relevant Authority may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.12 providing to or procuring for the
 Joint Sponsors and the Overall Coordinators all necessary consents to the provision of the
 information referred to in Clause 10.1 and Clause 10.5;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.13 complying, cooperating and assisting
 with record-keeping obligations of the Company, the Overall Coordinators and the CMIs under
 the Code of Conduct and the Listing Rules, including but not limited to, in the situation
 where the Company may decide to deviate from the advice or recommendations by an Overall
 Coordinator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.14 complying with all the undertakings
 and commitments made by it or the Directors in the Hong Kong Prospectus, the CSRC Filings
 and submissions to the Stock Exchange, the SFC and/or the CSRC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5.15 maintaining the appointment of a compliance
 adviser and obtaining advice from such compliance adviser in relation to its compliance with
 the Listing Rules and all other applicable Laws in such manner and for such period as
 required by the Listing Rules;

10.6 **Internal control:** ensure that any
 issues identified and as disclosed in any internal control report prepared by the Internal
 Control Consultant have been rectified or improved to a sufficient standard or level for
 the operation and maintenance of efficient systems of internal accounting and financial reporting
 controls and disclosure and corporate governance controls and procedures that are effective
 to perform the functions for which they were established and to allow compliance by the Company
 and its Board with all applicable Laws, and, without prejudice to the generality of the foregoing,
 to such standard or level recommended or suggested by the Internal Control Consultant in
 its internal control report.

10.7 **Significant changes:** If, at any time
 within 12 months after the Listing Date, there is a significant change which affects or is
 capable of affecting any information contained in the Offering Documents or a significant
 new matter arises, the inclusion of information in respect of which would have been required
 in any of the Offering Documents had it arisen before any of them was issued or would be
 required to be included in any post-listing reports to CSRC pursuant to the CSRC Rules, then,
 in connection therewith, (i):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7.1 promptly provide full particulars thereof
 to the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong
 Kong Underwriters);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7.2 if so required by the Joint Sponsors
 or the Overall Coordinators, inform the Stock Exchange, the SFC or the CSRC of such change
 or matter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7.3 if so required by the Stock Exchange,
 the SFC, the CSRC, the Joint Sponsors or the Overall Coordinators, promptly amend and/or
 prepare and deliver (through the Joint Sponsors and the Sponsor-OCs) to the Stock Exchange,
 the SFC or the CSRC for approval, documentation containing details thereof in a form agreed
 by the Joint Sponsors and the Overall Coordinators and publish such documentation in such
 manner as the Stock Exchange, the SFC, the CSRC, the Joint Sponsors and/or the Overall Coordinators
 may require; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7.4 make all necessary announcements to
 the Stock Exchange and the press to avoid a false market being created in the Offer Shares,

in each case, at the Company's own expense, and (ii) not to issue, publish, distribute or make available publicly any announcement, circular, document or other communication relating to any such change or matter aforesaid without the prior written consent of the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) (such consent not to be unreasonably withheld).

For the purposes of this Clause 10.7, "**significant**" means significant for the purpose of making an informed assessment of the matters mentioned in Rule 11.07 of the Listing Rules.

10.8 **General**: without prejudice to the
 foregoing obligations, do all such other acts and things as may be reasonably required to
 be done by it to carry into effect the Global Offering in accordance with the terms thereof.

The undertakings in this Clause 10 shall remain in full force and effect notwithstanding the completion of the Global Offering and the matters and arrangements referred to or contemplated in this Agreement.

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| | |
|:---|:---|
| **11** | **TERMINATION** |

---

11.1 **Termination by the Overall Coordinators:** The obligations of the Hong Kong Underwriters to subscribe or procure subscribers for the
 Hong Kong Offer Shares under this Agreement are subject to termination. If at any time prior
 to 8:00 a.m. on the day that trading in the Class A Ordinary Shares commences on
 the Stock Exchange:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1.1 there develops, occurs, exists or comes
 into force:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any new law or regulation or any change
 or development involving a prospective change or any event or series of events or circumstances
 likely to result in a change or a development involving a prospective change in existing
 laws or regulations, or the interpretation or application thereof by any court or any competent
 Authority in or affecting Hong Kong, Cayman Islands, the PRC, the United States, the United
 Kingdom, the European Union (or any member thereof), Singapore, Saudi Arabia, or other jurisdictions
 relevant to the Group or the Global Offering (each a "**Relevant Jurisdiction** "
 and collectively, the "**Relevant Jurisdictions** "); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any change or development involving a
 prospective change, or any event or series of events or circumstances likely to result in
 a change or prospective change, in any local, national, regional or international financial,
 political, military, industrial, economic, fiscal, legal, regulatory, currency, credit or
 market conditions, Taxation, equity securities or currency exchange rate or controls or any
 monetary or trading settlement system, or foreign investment regulations (including, without
 limitation, a devaluation of the Hong Kong dollar, United States dollar or Renminbi against
 any foreign currencies, a change in the system under which the value of the Hong Kong dollar
 is linked to that of the United States dollar or the Renminbi is linked to any foreign currency
 or currencies) or other financial markets (including, without limitation, conditions in stock
 and bond markets, money and foreign exchange markets, the inter-bank markets and credit markets)
 in or affecting any Relevant Jurisdictions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any event or series of events, or circumstances
 in the nature of force majeure (including, without limitation, any acts of government, declaration
 of a regional, national or international emergency or war, calamity, crisis, economic sanctions,
 strikes, labor disputes, other industrial actions, lock-outs, fire, explosion, flooding,
 tsunami, earthquake, volcanic eruption, civil commotion, riots, rebellion, public disorder,
 paralysis in government operations, acts of war, epidemic, pandemic, outbreak or escalation,
 mutation or aggravation of diseases, or interruption or delay in transportation, local, national,
 regional or international outbreak or escalation of hostilities (whether or not war is or
 has been declared), act of God or act of terrorism (whether or not responsibility has been
 claimed)) in or affecting any of the Relevant Jurisdictions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the imposition or declaration of any moratorium,
 suspension or limitation (including without limitation, any imposition of or requirement
 for any minimum or maximum price limit or price range) on (i) the trading in shares
 or securities generally on the Stock Exchange, the Shanghai Stock Exchange, the Shenzhen
 Stock Exchange, the Singapore Stock Exchange, the New York Stock Exchange, the Nasdaq or
 the London Stock Exchange; or (ii) the trading in any securities of the Company listed
 or quoted on a stock exchange or an over-the-counter market; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the imposition or declaration of any general
 moratorium on commercial banking activities in or affecting any of the Relevant Jurisdictions
 or any disruption in commercial banking or foreign exchange trading or securities settlement
 or clearing services, procedures or matters in or affecting any of the Relevant Jurisdictions;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) other than with the prior written consent
 of the Overall Coordinators, the issue or requirement to issue by the Company of a supplement
 or amendment to the Hong Kong Prospectus or other documents in connection with the offer
 and sale of the Offer Shares pursuant to the Companies (Winding up and Miscellaneous Provisions)
 Ordinance or the Listing Rules or upon any requirement or request of the Stock Exchange
 and/or the SFC; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the commencement by any Authority or other
 regulatory or political body or organization of any public action or investigation against
 a Group Company or a director or a senior management member of any Group Company or announcing
 an intention to take any such action; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the imposition of sanctions or export
 controls in whatever form, directly or indirectly, on any Group Company or any member of
 the Single Largest Group of Shareholders or by or on any Relevant Jurisdiction, or the withdrawal
 of trading privileges which existed on the date of this Agreement, in whatever form, directly
 or indirectly, by, or for, any Relevant Jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any valid demand by creditors for payment
 or repayment of indebtedness of any member of the Group or in respect of which any member
 of the Group is liable prior to its stated maturity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any non-compliance of the Hong Kong Prospectus
 (or any other documents used in connection with the contemplated offering, allotment, issue
 or sale of any of the Offer Shares), the CSRC Filings or any aspect of the Global Offering
 with the Listing Rules or any other applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any litigation, dispute, legal action
 or claim or regulatory or administrative investigation or action being threatened, instigated
 or announced against any member of the Group or any member of the Single Largest Group of
 Shareholders or any Director or senior management members as named in the Hong Kong Prospectus;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) any contravention by any Group Company
 or any Director of the Listing Rules or applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) any change or prospective change, or a
 materialization of, any of the risks set out in the section headed "Risk Factors"
 in the Hong Kong Prospectus,

which, in any such case individually or in the aggregate, in the sole and absolute opinion of the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. has or will or may have a material adverse
 effect, whether directly or indirectly, on the assets, liabilities, business, general affairs,
 management, prospects, shareholders' equity, profits, losses, results of operations,
 position or condition, financial or otherwise, or performance of the Company or the Group
 as a whole;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. has or will or may have a material adverse
 effect on the success of the Global Offering or the level of applications under the Hong
 Kong Public Offering or the level of indications of interest under the International Offering;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. makes or will make or may make it impracticable,
 inadvisable, inexpedient or incapable for any material part of this Agreement, the Hong Kong
 Public Offering or the Global Offering to be performed or implemented as envisaged, or for
 the Hong Kong Public Offering and/or the Global Offering to proceed, or to market the Global
 Offering or the delivery or distribution of the Offer Shares on the terms and in the manner
 contemplated by the Offering Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. has or will or may have the effect of
 making any part of this Agreement (including underwriting) incapable of performance in accordance
 with its terms or preventing the processing of applications and/or payments pursuant to the
 Global Offering or pursuant to the underwriting thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1.2 there has come to the notice of the
 Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong Kong
 Underwriters) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any development or occurrence of a suspension
 or limitation in trading of the Company's securities on the Nasdaq; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any statement contained in any of the
 Offering Documents, the CSRC Filings and/or any notices, announcements, advertisements, communications
 or other documents issued or used by or on behalf of the Company in connection with the Hong
 Kong Public Offering (including any supplement or amendment thereto) (the "**Global Offering Documents**") was, when it was issued, or has become untrue, incorrect,
 inaccurate in any material respect or misleading, unless such untrue or misleading statement
 has been properly rectified by the Company in a timely manner; or that any estimate, forecast,
 expression of opinion, intention or expectation contained in any such documents, was, when
 it was issued, or has become unfair or misleading in any respect or based on untrue, dishonest
 or unreasonable assumptions or given in bad faith; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any matter has arisen or has been discovered
 which would, had it arisen or been discovered immediately before the date of the Hong Kong
 Prospectus, constitute a material omission or misstatement in any Global Offering Document;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any breach of, or any event or circumstance
 rendering untrue or incorrect or misleading in any respect, any of the representations, warranties
 and undertakings given by the Company or the Single Largest Group of Shareholders in this
 Agreement or the International Underwriting Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any event, act or omission which gives
 rise or is likely to give rise to any liability of any of the Indemnifying Parties pursuant
 to the indemnities in this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any material breach of any of the obligations
 or undertakings imposed upon the Company or any member of the Single Largest Group of Shareholders
 to this Agreement or the International Underwriting Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) there is any change or development involving
 a prospective change constituting or having a Material Adverse Effect; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) that the Chairman of the Board, any executive
 Director or any member of senior management of the Company named in the Hong Kong Prospectus
 seeks to retire, or is removed from office or vacating his/her office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Director or any member of senior management
 of the Company named in the Hong Kong Prospectus is being charged with an indictable offence
 or prohibited by operation of law or otherwise disqualified from taking part in the management
 or taking directorship of a company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the Company withdraws the Hong Kong Prospectus
 (and/or any other documents used in connection with the offer or sale of any of the Offer
 Shares pursuant to the Global Offering) or the Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) that the approval by the Listing Committee
 of the listing of, and permission to deal in, (a) the Class A Ordinary Shares in
 issue and to be issued pursuant to the Global Offering (including the additional Class A
 Ordinary Shares which may be issued pursuant to the exercise of the Over-allotment Option);
 (b) the Class A Ordinary Shares to be issued pursuant to the 2018 Share Plan, and
 (c) the Class A Ordinary Shares that are issuable upon conversion of the Class B
 Ordinary Shares on a one to one basis is refused or not granted, other than subject to customary
 conditions, on or before the Listing Date, or if granted, the approval is subsequently withdrawn,
 cancelled, qualified (other than by customary conditions), revoked or withheld; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) any person (other than any of the Joint
 Sponsors) has withdrawn its consent to the issue of the Hong Kong Prospectus with the inclusion
 of its reports, letters and/or legal opinions (as the case may be) and references to its
 name included in the form and context in which it respectively appears; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) any prohibition on the Company for whatever
 reason from offering, allotting, issuing or selling any of the Offer Shares pursuant to the
 terms of the Global Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) any person whose consent is required for
 the issue of the Hong Kong Prospectus (other than the Joint Sponsors and the Overall Coordinators)
 has withdrawn or sought to withdraw its consent to being named in any of the Offering Documents
 or to the issue of any of the Offering Documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) an order or petition is presented for
 the winding-up or liquidation of any member of the Group, or any member of the Group makes
 any composition or arrangement with its creditors or enters into a scheme of arrangement
 or any resolution is passed for the winding-up of any member of the Group or a provisional
 liquidator, receiver or manager is appointed over all or part of the assets or undertaking
 of any member of the Group or anything analogous thereto occurs in respect of any member
 of the Group; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) (A) the notice of acceptance of the
 CSRC Filings issued by the CSRC and/or the results of the CSRC Filings published on the website
 of the CSRC is rejected, withdrawn, revoked or invalidated; or (B) other than with the
 prior written consent of the Overall Coordinators, the issue or requirement to issue by the
 Company of a supplement or amendment to the CSRC Filings pursuant to the CSRC Rules or
 upon any requirement or request of the CSRC; or (C) any non-compliance of the CSRC Filings
 with the CSRC Rules or any other applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) that a material portion of the orders
 placed or confirmed in the bookbuilding process have been withdrawn, terminated or cancelled,
 or with respect to which the payment of the relevant orders and/or investment commitment
 has not been received or settled in the stipulated time and manner or otherwise,

then, in each case, the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) may, in their sole and absolute discretion and upon giving notice in writing to the Company, terminate this Agreement with immediate effect.

11.2 **Effect of termination:** Upon the termination
 of this Agreement pursuant to the provisions of Clause 11.1 or Clause 2.4:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.1 each of the parties hereto shall cease
 to have any rights or obligations under this Agreement, save in respect of the provisions
 of this Clause 11.2 and Clauses 7.3, 7.4, 7.5, 9, 13, 16 to 19 and any rights or obligations
 which may have accrued under this Agreement prior to such termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.2 with respect to the Hong Kong Public
 Offering, all payments made by the Hong Kong Underwriters or any of them pursuant to Clause
 4.9 and/or by the Overall Coordinators pursuant to Clause 4.10 and/or by successful applicants
 under valid applications under the Hong Kong Public Offering shall be refunded forthwith
 (in the latter case, the Company shall procure that the Share Registrar and the Nominee dispatch
 refund cheques to all applicants under the Hong Kong Public Offering in accordance with the
 Registrar's Agreement and the Receiving Bank Agreement); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.3 notwithstanding anything to the contrary
 under this Agreement, the Company shall forthwith pay to the Overall Coordinators the fees,
 costs, charges and expenses set out in Clauses 7.3 and 7.4 and the Overall Coordinators may,
 in accordance with the provisions herein, instruct the Nominee to make such (or any part
 of such) payments out of the interest accrued on the monies received in respect of the Hong
 Kong Public Offering, if any.

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| | |
|:---|:---|
| **12** | **RESTRICTION ON ISSUE OR DISPOSAL OF SECURITIES** |

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12.1 **Lock-up on the Company:** The Company
 hereby undertakes to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and
 the Hong Kong Underwriters that except for (a) the issue, offer or sale of the Offer
 Shares by the Company pursuant to the Global Offering (including pursuant to any exercise
 of the Over-allotment Option); (b) the issue of Class A Ordinary Shares or ADSs
 or transfer of treasury shares pursuant to the 2018 Share Plan in compliance with the Listing
 Rules and applicable Laws; (c) any capitalization issue, capital reduction or consolidation
 or sub-division of shares; (d) registration and issuance of ADSs and ADRs without enlarging
 the issued and outstanding share capital of the Company as at the date of this Agreement;
 or (e) repurchase of securities pursuant to the Company's share repurchase programs
 existing on the date of the International Underwriting Agreement to the extent in compliance
 with the Listing Rules and applicable Laws, the Company will not, without the prior
 written consent of the Joint Sponsors and the Overall Coordinators (for themselves and on
 behalf of the Hong Kong Underwriters) and unless in compliance with the Listing Rules, at
 any time during the period commencing on the date hereof and ending on the date falling six
 months after the Listing Date (the "**First Six Month Period** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.1 allot, issue, sell, accept subscription
 for, offer to allot, issue or sell, contract or agree to allot, issue or sell, mortgage,
 charge, pledge, hypothecate, lend, grant or sell any option, warrant, contract or right to
 subscribe for or purchase, grant or purchase any option, warrant, contract or right to allot,
 issue or sell, or otherwise transfer or dispose of or create an Encumbrance over, or agree
 to transfer or dispose of or create an Encumbrance over, either directly or indirectly, conditionally
 or unconditionally, or repurchase, any legal or beneficial interest in the share capital
 or any other securities of the Company or any interest in any of the foregoing (including,
 without limitation, any securities convertible into or exchangeable or exercisable for or
 that represent the right to receive, or any warrants or other rights to purchase any share
 capital or other securities of the Company, as applicable), or deposit any share capital
 or other securities of the Company, as applicable, with a depositary in connection with the
 issue of depositary receipts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.2 enter into any swap or other arrangement
 that transfers to another, in whole or in part, any of the economic consequences of ownership
 (legal or beneficial) of the Class A Ordinary Shares or any other securities of the
 Company, or any interest in any of the foregoing (including, without limitation, any securities
 convertible into or exchangeable or exercisable for or that represent the right to receive,
 or any warrants or other rights to purchase, any Shares); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.3 enter into any transaction with the
 same economic effect as any transaction described in Clause 12.1.1 or 12.1.2 above; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.4 offer to or agree to do any of the
 foregoing specified in Clause 12.1.1, 12.1.2 or 12.1.3 or announce any intention to do so,

in each case, whether any of the foregoing transactions is to be settled by delivery of share capital or such other securities, in cash or otherwise (whether or not the issue of such share capital or other securities will be completed within the First Six Month Period). The Company further agrees that, in the event the Company is allowed to enter into any of the transactions described in Clause 12.1.1, 12.1.2 or 12.1.3 above or offers to or agrees to or announces any intention to effect any such transaction during the period of six months commencing on the date on which the First Six Month Period expires (the "**Second Six Month Period**"), it will take all reasonable steps to ensure that such an issue or disposal will not, and no other act of the Company will, create a disorderly or false market for any Class A Ordinary Shares or other securities of the Company.

The Single Largest Group of Shareholders undertake to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters that it/he shall procure the Company to comply with the undertakings in this Clause 12.1.

12.2 **Maintenance of public float:** The Company
 agrees and undertakes to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and
 the Hong Kong Underwriters that it will, and the Single Largest Group of Shareholders undertake
 to procure that the Company will, comply with the minimum public float requirements specified
 in the Listing Rules (the "**Minimum Public Float Requirement** "), and
 it will not effect any purchase of the Class A Ordinary Shares, or agree to do so, which
 may reduce the holdings of the Class A Ordinary Shares held by the public (as defined
 in Rule 8.24 of the Listing Rules) to below the Minimum Public Float Requirement or
 any waiver granted and not revoked by the Stock Exchange prior to the expiration of the Second
 Six Month Period without first having obtained the prior written consent of the Joint Sponsors
 and the Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters).

12.3 **Lock-up on the Single Largest Group of Shareholders:** Each member of the Single Largest Group of Shareholders hereby undertakes
 to each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global
 Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong
 Underwriters that, without the prior written consent of the Joint Sponsors and the Overall
 Coordinators (for themselves and on behalf of the Hong Kong Underwriters) and unless in compliance
 with the requirements of the Listing Rules, except pursuant to the Stock Borrowing Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3.1 it/he will not, and will procure that
 the relevant registered holder(s), any nominee or trustee holding on trust for it/him and
 the companies controlled by it/him will not, at any time during the period commencing on
 the date of this Agreement and ending on, and including the date that is twelve months after
 the Listing Date (the "**Twelve Month Period** "), (i) sell, offer to
 sell, accept subscription for, contract or agree to sell, mortgage, charge, pledge, hypothecate,
 lend, grant or sell any option, warrant, contract or right to purchase, grant or purchase
 any option, warrant, contract or right to sell, or otherwise transfer or dispose of or create
 an Encumbrance over, or agree to transfer or dispose of or create an Encumbrance over, either
 directly or indirectly, conditionally or unconditionally, any Shares or other equity securities
 of the Company or any interest therein (including, without limitation, any securities convertible
 into or exchangeable or exercisable for or that represent the right to receive, or any warrants
 or other rights to purchase, any Shares or any such other securities, as applicable or any
 interest in any of the foregoing), or (ii) enter into any swap or other arrangement
 that transfers to another, in whole or in part, any of the economic consequences of ownership
 (legal or beneficial) of any Shares or other equity securities of the Company or any interest
 therein (including, without limitation, any securities convertible into or exchangeable or
 exercisable for or that represent the right to receive, or any warrants or other rights to
 purchase, any Shares or any such other securities, as applicable or any interest in any of
 the foregoing), or (iii) enter into any transaction with the same economic effect as
 any transaction specified in Clause 12.3.1(i) or (ii) above, or (iv) offer
 to or agree to or announce any intention to effect any transaction specified in Clause 12.3.1(i),
 (ii) or (iii) above, in each case, whether any of the transactions specified in
 Clause 12.3.1(i), (ii) or (iii) above is to be settled by delivery of Shares or
 other equity securities of the Company or in cash or otherwise, and whether or not the transactions
 will be completed within the Twelve Month Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3.2 until
 the expiry of the Twelve Month Period, in the event that
 it/he enters into any of the transactions specified in Clause 12.3.1(i), (ii) or (iii) or
 offer to or agrees to or contract to or publicly announce any intention to effect any such
 transaction, it/he will take all reasonable steps to ensure that such a disposal will not
 create a disorderly or false market in the securities of the Company.

The restrictions in this Clause 12.3 shall not prevent the Single Largest Group of Shareholders from (i) purchasing additional Class A Ordinary Shares or other securities of the Company and disposing of such additional Class A Ordinary Shares or securities of the Company in accordance with the Listing Rules, provided that any such purchase or disposal does not contravene the lock-up arrangements with the Single Largest Group of Shareholders referred to in this Clause 12.3 or the compliance by the Company with the Minimum Public Float Requirement, and (ii) using the Shares or other securities of the Company or any interest therein beneficially owned by them as security (including a charge or a pledge) in favor of an authorized institution (as defined in the Banking Ordinance (Chapter 155 of the Laws of Hong Kong)) for a *bona fide* commercial loan, provided that (a) the relevant member(s) of the Single Largest Group of Shareholders will immediately inform the Company and the Overall Coordinators in writing of such pledge or charge together with the number of Shares or other securities of the Company so pledged or charged if and when it/he or the relevant registered holder(s) pledges or charges any Shares or other securities of the Company beneficially owned by it/him, and (b) when the relevant member(s) of the Single Largest Group of Shareholders receive(s) indications, either verbal or written, from the pledgee or chargee of any Shares that any of the pledged or charged Shares or other securities of the Company will be disposed of, it/he will immediately inform the Company and the Overall Coordinators of such indications.

The Company hereby undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters that upon receiving such information in writing from the Single Largest Group of Shareholders, it will, as soon as practicable and if required pursuant to the Listing Rules, the SFO and/or any other applicable Law, notify the Stock Exchange and/or other relevant Authorities, and make a public disclosure in relation to such information by way of an announcement.

12.4 **Full force:** The undertakings in this
 Clause 12 will continue in full force and effect notwithstanding the Global Offering becoming
 unconditional and having been completed.

---

| | |
|:---|:---|
| **13** | **ANNOUNCEMENTS** |

---

13.1 **Restrictions on announcements:** No
 announcement concerning this Agreement, any matter contemplated herein or any ancillary matter
 hereto shall be issued, published, made publicly available or despatched by the Company or
 any member of the Single Largest Group of Shareholders (or by any of their respective directors,
 officers, employees, consultants, advisers or agents) during the period of six months from
 the date of this Agreement without the prior written approval of the Joint Sponsors and the
 Overall Coordinators (for themselves and on behalf of the Hong Kong Underwriters) (such consent
 not to be unreasonably withheld), except in the event and to the extent that any such announcement,
 circular, supplement or document is required by applicable Laws or the Listing Rules or
 required by any Authority to which such party is subject or submits, wherever situated, including,
 without limitation, the Stock Exchange, the CSRC and the SFC, whether or not the requirement
 has the force of law, and any such announcement, circular, supplement or document so issued,
 published, made publicly available or despatched by any of the parties shall be made only
 after the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the
 Hong Kong Underwriters) have had a reasonable opportunity to review and comment on the final
 draft and their respective comments (if any) have been fully considered by the issuer(s) thereof.

13.2 **Discussion with the Joint Sponsors and the Overall Coordinators:** The Company undertakes to the Joint Sponsors and the Overall
 Coordinators (for themselves and on behalf of the Hong Kong Underwriters) that it will, and
 the Single Largest Group of Shareholders undertake to procure that the Company will, conduct
 prior discussion with the Joint Sponsors and the Overall Coordinators in relation to any
 announcement proposed to be made to the public by or on behalf of the Company, following
 the date of Prospectus up to the six months from the date of this Agreement, which may materially
 conflict with any statement in the Hong Kong Prospectus.

13.3 **Full force:** The restriction contained
 in this Clause 13 shall continue to apply after the completion of the Global Offering and
 the matters and arrangements referred to or contemplated in this Agreement, or the termination
 of this Agreement. The Company shall procure compliance by the Group and its Affiliates with
 the provisions of this Clause 13.

---

| | |
|:---|:---|
| **14** | **ALLOCATION OF SHARES, FREE FLOAT AND OFFER SIZE** |

---

14.1 **Allocation of Shares:** The Company
 undertakes to the Joint Sponsors and the Overall Coordinators (for themselves and on behalf
 of the Hong Kong Underwriters) that at least 50% of the total number of shares offered in
 the Global Offering (excluding any shares to be issued pursuant to the exercise of the Over-allotment
 Option) of the Company will be taken up by independent price setting investors (as defined
 in Chapter 2.5 of the Guide) in the placing tranche.

14.2 **Free Float:** The Company undertakes
 to the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong
 Kong Underwriters) that the Company will, in addition to meeting the requirements of Rule 8.08(1) of
 the Listing Rules, ensure that a portion of the total number of its issued shares listed
 on the Stock Exchange either representing at least 10% of the total number of issued shares
 listed on the Stock Exchange (excluding treasury shares) with a market capitalization of
 at least HK$50,000,000 or with a market capitalization of at least HK$600,000,000 are not
 subject to any disposal restrictions (whether under contract, the Listing Rules, applicable
 laws or otherwise) at the time of the Listing.

14.3 **Offer Size:** The Company undertakes
 to the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the Hong
 Kong Underwriters) that the Global Offering will have a meaningful size in satisfaction with
 Rule 18C.11 of the Listing Rules.

---

| | |
|:---|:---|
| **15** | **UNDERTAKINGS BY A COMMERCIAL COMPANY UNDER CHAPTER 18C OF THE LISTING RULES** |

---

15.1 **Disclosure of Shareholding:** The Company
 undertakes to the Joint Sponsors and the Overall Coordinators (for themselves and on behalf
 of the Hong Kong Underwriters) that the Company will disclose in its interim (half-yearly)
 and annual reports the total number of securities in the Company held by each person that
 are subject to the requirements of Rule 18C.13 or 18C.14 of the Listing Rules, based
 on information that is publicly available to the Company or otherwise within the knowledge
 of its Directors as at the latest practicable date prior to the issue of the relevant report,
 for so long as the relevant person remains as a shareholder.

---

| | |
|:---|:---|
| **16** | **CONFIDENTIALITY** |

---

16.1 **Information confidential:** Subject
 to Clause 16.2, each party hereto shall, and shall procure that its Affiliates and its and
 its Affiliates' respective directors, officers, employees, consultants, advisers or
 agents will, for a period of two years from the date of this Agreement, treat as strictly
 confidential all information received or obtained as a result of entering into or performing
 this Agreement which relates to the provisions of this Agreement, the negotiations relating
 to this Agreement, the matters contemplated under this Agreement or in relation to the other
 parties to this Agreement.

16.2 **Exceptions:** Any party hereto may disclose,
 or permit its Affiliates, its and its Affiliates' respective directors, officers, employees,
 assignees, advisers, consultants and agents to disclose, information which would otherwise
 be confidential if and to the extent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.1 required by applicable Laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.2 required, requested or otherwise compelled
 by any Authority to which such party is subject or submits, wherever situated, including,
 without limitation, the Stock Exchange, the CSRC and the SFC, whether or not the requirement
 for disclosure of information has the force of law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.3 required to vest the full benefit of
 this Agreement in such party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.4 disclosed to the professional advisers,
 auditors and internal auditors of such party on a need-to-know basis and/or under a duty
 of confidentiality;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.5 the information has come into the public
 domain through no fault of such party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.6 required or requested by any of the
 Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters or
 any of their respective Affiliates for the purpose of the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.7 required by any of the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinator, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters or any of their respective
 Affiliates to seek to establish any defense or pursue any claim in any legal, arbitration
 or regulatory proceeding or investigation in connection with the Global Offering or otherwise
 to comply with its or their own regulatory obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.8 the other parties (and in the case
 of the Hong Kong Underwriters, by the Joint Sponsors and the Overall Coordinators (for themselves
 on behalf of the Hong Kong Underwriters)) have given prior written approval to the disclosure,
 such approval not to be unreasonably withheld; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2.9 the information becomes available to
 such party on a non-confidential basis from a person not known by such party to be bound
 by a confidentiality agreement with any of the other parties hereto or to be otherwise prohibited
 from transmitting the information;

provided that, in the case of Clauses 16.2.3 and 16.2.8, any such information disclosed shall be disclosed only after consultation with the other parties.

16.3 **Full force:** The restrictions contained
 in this Clause 16 shall continue to apply notwithstanding the termination of this Agreement
 or the completion of the Global Offering and the matters and arrangements referred to or
 contemplated in this Agreement.

---

| | |
|:---|:---|
| **17** | **NOTICES** |

---

17.1 **Language:** All notices or other communication
 delivered hereunder shall be in writing except as otherwise provided in this Agreement and
 shall be in the English language.

17.2 **Time of notice:** Any such notice or
 other communication shall be addressed as provided in Clause 17.3 and, if so addressed, shall
 be deemed to have been duly given or made as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2.1 if sent by personal delivery, upon
 delivery at the address of the relevant party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2.2 if sent by post, two Business Days
 after the date of posting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2.3 if sent by airmail, five Business Days
 after the date of posting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2.4 if sent by email, when successfully
 transmitted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2.5 if sent by facsimile, when despatched

 transmission of such facsimile by the facsimile machine used for such transmission.

Any notice received or deemed to be received on a day which is not a Business Day shall be deemed to be received on the next Business Day.

17.3 **Details of contact:** The relevant address
 and facsimile number of each of the parties hereto for the purpose of this Agreement, subject
 to Clause 17.4, are as follows:

If to the **Company:**

---

| | |
|:---|:---|
| Address: | 21st Floor, Tower A, Guanzhou Life Science Innovation Center, No. 51 Luoxuan Road, Guangzhou International Biotech Island, Guangzhou, Guangdong Province, PRC |
| Email: | [\*] |
| Attention: | [\*] |

---

If to the **Single Largest Group of Shareholders**:

---

| | |
|:---|:---|
| Address: | Building C1, Guangzhou BioIsland, International Apartment, No. 96 Xingdaohuan South Road, Guangzhou International Biotech Island, Guangzhou, Guangdong Province, PR |
| Email: | [\*] |
| Attention: | [\*] |

---

If to **CICC**:

Address: 29/F One International Finance Centre, 1 Harbour View Street, Central, Hong Kong <br> Email: [\*] <br> Attention: [\*]

If to **MS**:

Address: Level 46, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong <br> Email: [\*] <br> Attention: [\*]

If to **J.P. Morgan**:

Address: 28/F, Chater House, 8 Connaught Road Central, Hong Kong <br> Email: [\*] <br> Attention: [\*]

If to any of the other Hong Kong Underwriters, to the address, and email address of such Hong Kong Underwriter, and for the attention of the person, specified under the name of such Hong Kong Underwriter in Schedule 1, respectively.

17.4 **Change of contact details:** A party
 may notify the other parties to this Agreement of a change of its relevant address or email
 address for the purposes of Clause 17.3, provided that such notification shall only be effective
 on:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4.1 the date specified in the notification
 as the date on which the change is to take place; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4.2 if no date is specified or the date
 specified is less than two Business Days after the date on which notice is given, the date
 falling two Business Days after notice of any such change has been given.

---

| | |
|:---|:---|
| **18** | **GOVERNING LAW, DISPUTE RESOLUTION AND WAIVER OF IMMUNITY** |

---

18.1 **Governing law:** This Agreement, and
 any non-contractual obligations arising out of or in connection with it, including this Clause
 18, shall be governed by and construed in accordance with the laws of Hong Kong.

18.2 **Arbitration:** Each party to this Agreement
 agrees that any dispute, controversy, difference or claim arising out of or relating to this
 Agreement including its subject matter, existence, negotiation, validity, invalidity, interpretation,
 performance, breach, termination or enforceability or any dispute regarding non-contractual
 obligations arising out of or relating to it (a "**Dispute**") shall be referred
 to and finally resolved by arbitration administered by the Hong Kong International Arbitration
 Centre ()"**HKIAC**") under the HKIAC Administered Arbitration Rules (the
 "**Rules**") in force when the Notice of Arbitration is submitted in accordance
 with the Rules. The seat of arbitration shall be Hong Kong. The number of arbitrators shall
 be three. The arbitration proceedings shall be conducted in English. This arbitration agreement
 shall be governed by the laws of Hong Kong. The rights and obligations of the parties to
 submit Disputes to arbitration pursuant to this Clause 18 shall survive the termination of
 this Agreement or the completion of the Global Offering and the matters and arrangements
 referred to or contemplated in this Agreement. Notwithstanding this Clause 18.2, any party
 may bring proceedings in any court of competent jurisdiction for ancillary, interim or interlocutory
 relief in relation to or in support of any arbitration commenced under this Clause 18.2.
 Notwithstanding the above, each of the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators,
 the Joint Global Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers,
 and the Hong Kong Underwriters shall also have the sole right:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2.1 to commence proceedings or pursue a
 claim in any court of competent jurisdiction for injunctive relief in relation to and/or
 in support of any Dispute arising out of or in connection with this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2.2 in circumstances in which they become
 or are joined as a defendant or third party in any Proceedings, to pursue claims against
 the Company and/or the Single Largest Group of Shareholders in those Proceedings (whether
 by way of a claim for an indemnity, contribution or otherwise).

18.3 **Submission to jurisdiction:** Each of
 the parties hereto irrevocably submits to the non-exclusive jurisdiction of any court of
 competent jurisdiction in which proceedings may be brought in relation to and/or in support
 of such arbitration.

18.4 **Waiver of objection to jurisdiction:** Each of the parties hereto irrevocably waives (and irrevocably agrees not to raise) any objection
 (on the grounds of *forum non conveniens* or otherwise) which it may now or hereafter
 have to the laying of the venue of any proceedings in any court of competent jurisdiction
 in which court proceedings may be brought in relation to or in support of any arbitration
 commenced under this Clause 18. Each of the parties hereto further irrevocably agrees that
 a judgment or order of any such court shall be conclusive and binding upon it and may be
 enforced in any court of competent jurisdiction.

18.5 **Service of documents:** Without prejudice
 to the provisions of Clause 18.6, each of the parties unconditionally and irrevocably agrees
 that any writ, summons, order, judgment or other notice of legal process shall be sufficiently
 and effectively served on it if delivered in accordance with Clause 17.

18.6 **Process agent:** Without prejudice to
 Clause 18.5 above, the Company has established a place of business in Hong Kong at 40th Floor,
 Dah Sing Financial Centre, No. 248 Queen's Road East, Wanchai, and the Company
 has been registered as a non-Hong Kong company under Part 16 of the Companies Ordinance.

Without prejudice to Clause 18.5 above, each member of the Single Largest Group of Shareholders hereby irrevocably appoints the Company (the **"Single Largest Group of Shareholders' Process Agent**") as its/his authorized representative for the acceptance of service of process (which includes service of all and any documents relating to any proceedings) arising out of or in connection with any arbitration proceedings or any proceedings before the courts of Hong Kong and any notices to be served on any member of the Single Largest Group of Shareholders in Hong Kong in connection with this Agreement.

Service of process upon the Single Largest Group of Shareholders by service upon the Single Largest Group of Shareholders' Process Agent in its/his capacity as agent for the service of process for the Single Largest Group of Shareholders shall be deemed, for all purposes, to be due and effective service, and shall be deemed completed whether or not forwarded to or received by the Single Largest Group of Shareholders. If for any reason the Single Largest Group of Shareholders' Process Agent shall cease to be agent for the service of process for any member of the Single Largest Group of Shareholders or if the place of business in Hong Kong of the Company identified above shall cease to be an available address for the service of process for the Company, the Company or such member of the Single Largest Group of Shareholders (as the case may be) shall promptly notify the Joint Sponsors and the Overall Coordinators and within 14 days to designate a new address in Hong Kong as its place of business or appoint a new agent for the service of process in Hong Kong (as the case may be) acceptable to the Joint Sponsors and the Overall Coordinators. Where a new agent is appointed for the service of process for the any member of the Single Largest Group of Shareholders, such member of the Single Largest Group of Shareholders shall deliver to each of the other parties hereto a copy of the new agent's acceptance of that appointment as soon as reasonably practicable, failing which the Joint Sponsors and the Overall Coordinators shall be entitled to appoint such new agent for and on behalf of such member of the Single Largest Group of Shareholders, and such appointment shall be effective upon the giving of notice of such appointment to such member of the Single Largest Group of Shareholders. Nothing in this Agreement shall affect the right to serve process in any other manner permitted by the applicable Laws.

Where proceedings are taken against any Warrantor in the courts of any jurisdiction other than Hong Kong, upon being given notice in writing of such proceedings, such Warrantor shall forthwith appoint an agent for the service of process (which includes service of all and any documents relating to such proceedings) in that jurisdiction acceptable to the Joint Sponsors and the Overall Coordinators and deliver to each of the other parties hereto a copy of the agent's acceptance of that appointment and shall give notice of such appointment to the other parties hereto within 14 days from the date on which notice of the proceedings was given, failing which the Joint Sponsors and the Overall Coordinators shall be entitled to appoint such agent for and on behalf of such Warrantor, and such appointment shall be effective upon the giving notice of such appointment to such Warrantor. Nothing in this Agreement shall affect the right to serve process in any other matter permitted by the applicable Laws.

18.7 **Waiver of immunity:** To the extent
 in any proceedings in any jurisdiction including, without limitation, arbitration proceedings,
 the Company or any member of the Single Largest Group of Shareholders has or can claim for
 itself/himself or its/his assets, properties or revenues any immunity (on the grounds of
 sovereignty or crown status or any charter or otherwise) from any action, suit, proceedings
 or other legal process (including, without limitation, arbitration proceedings), from set-off
 or counterclaim, from the jurisdiction of any court or arbitral tribunal, from service of
 process, from any form of attachment to or in aid of execution of any judgment, decision,
 determination, order or award including, without limitation, any arbitral award, from the
 obtaining of judgment, decision, determination, order or award including, without limitation,
 any arbitral award, or from other action, suit or proceeding for the giving of any relief
 or for the enforcement of any judgment, decision, determination, order or award including,
 without limitation, any arbitral award or to the extent that in any such proceedings there
 may be attributed to itself/himself or its/his assets, properties or revenues any such immunity
 (whether or not claimed), the Company or the Single Largest Group of Shareholders hereby
 irrevocably waives and agrees not to plead or claim any such immunity in relation to any
 such proceedings (to the extent permitted by applicable Laws).

---

| | |
|:---|:---|
| **19** | **MISCELLANEOUS** |

---

19.1 **Time is of the essence:** Save as otherwise
 expressly provided herein including without limitation the right of the Joint Sponsors and
 the Overall Coordinators hereto to extend the deadline under Clause 2.3, time shall be of
 the essence of this Agreement.

19.2 **Illegality, invalidity or unenforceability:** If, at any time, any provision hereof is or becomes illegal, invalid or unenforceable in
 any respect under the Laws of any jurisdiction, neither the legality, validity or enforceability
 in that jurisdiction of any other provisions hereof nor the legality, validity or enforceability
 of that or any other provision(s) hereof under the Laws of any other jurisdiction shall
 in any way be affected or impaired thereby.

19.3 **Assignment:** Each of the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters may assign, in whole
 or in part, the benefits of this Agreement, including, without limitation, the Warranties
 and the indemnities in Clauses 8 and 9, respectively, to any of the persons who have the
 benefit of the indemnities in Clause 9 and any successor entity to the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters, as applicable. Obligations
 under this Agreement shall not be assignable.

19.4 **Release or compromise:** Each party
 may release or compromise, in whole or in part, the liability of, the other parties (or any
 of them) or grant time or other indulgence to the other parties (or any of them) without
 releasing or reducing the liability of the other parties (or any of them) or any other party
 hereto and without prejudicing the rights of the parties hereto against any other person
 under the same or a similar liability. Without prejudice to the generality of the foregoing,
 each of the Warrantors agrees and acknowledges that any amendment or supplement to the Offering
 Documents, the CSRC Filings or any of them (whether made pursuant to Clause 8.5 or otherwise)
 or any announcement, issue, publication or distribution, or delivery to investors, of such
 amendment or supplement or any approval by, or knowledge of, the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint Bookrunners,
 the Joint Lead Managers, the Hong Kong Underwriters or any of them, of such amendment or
 supplement to any of the Offering Documents and CSRC Filings subsequent to its distribution
 shall not in any event and notwithstanding any other provision hereof constitute a waiver
 or modification of any of the conditions precedent to the obligations of the Hong Kong Underwriters
 as set forth in this Agreement or result in the loss of any rights hereunder of the
 Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as
 the case may be, to terminate this Agreement or prejudice any other rights of the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters, as the case may be, under
 this Agreement (in each case whether by reason of any misstatement or omission resulting
 in a prior breach of any of the Warranties or otherwise).

19.5 **Exercise of rights:** No delay or omission
 on the part of any party hereto in exercising any right, power or remedy under this Agreement
 shall impair such right, power or remedy or operate as a waiver thereof. The single or partial
 exercise of any right, power or remedy under this Agreement shall not preclude any other
 or further exercise thereof or the exercise of any other right, power or remedy. The rights,
 power and remedies provided in this Agreement are cumulative and not exclusive of any other
 rights, powers and remedies (whether provided by Laws or otherwise).

19.6 **No partnership:** Nothing in this Agreement
 shall be deemed to give rise to a partnership or joint venture, nor establish a fiduciary
 or similar relationship, between the parties hereto.

19.7 **Entire agreement:** This Agreement,
 together with, (i) with respect to the Company and the Joint Sponsors and the Sponsor-OCs,
 the Sponsor and Sponsor-OC Mandates, (ii) with respect to the Company and the Overall
 Coordinators, the OC Engagement Letter, and (iii) with respect to the Company and the
 CMIs, the CMI Engagement Letters, constitute the entire agreement between the Company, the
 Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers, the CMIs and the Hong Kong Underwriters relating
 to the underwriting of the Hong Kong Public Offering and supersedes and extinguishes any
 prior drafts, agreements, undertakings, understanding, representations, warranties and arrangements
 of any nature whatsoever, whether or not in writing, relating to such matters as have been
 regulated by the provisions of this Agreement. For the avoidance of doubt, the Sponsor and
 Sponsor-OC Mandates, the OC Engagement Letter and the CMI Engagement Letters shall continue
 to be in force and binding upon the parties thereto. If any terms herein are inconsistent
 with that of the Sponsor and Sponsor-OCs Mandates and/ or the OC Engagement Letter and/or
 the CMI Engagement Letters, the terms in this Agreement shall prevail.

19.8 **Amendment and variations:** This Agreement
 may only be amended or supplemented in writing signed by or on behalf of each of the parties
 hereto. Without prejudice to Clause 19.15.3, no consent of any third party is required with
 respect to any variation, amendment, waiver, termination to this Agreement.

19.9 **Counterparts:** This Agreement may be
 executed in any number of counterparts, each of which when so executed and delivered shall
 be an original, but all of which shall together constitute one and the same instrument. Delivery
 of a counterpart of this Agreement by email attachment or telecopy shall be an effective
 mode of delivery. In relation to such counterpart, upon confirmation by or on behalf of a
 party that such party authorizes the attachment of the counterpart signature page to
 the final text of this Agreement, such counterpart signature page shall take effect,
 together with such final text, as a complete authoritative counterpart.

19.10 **Judgment Currency Indemnity:** In respect
 of any judgment or order or award given or made for any amount due under this Agreement to
 any of the Indemnified Parties that is expressed and paid in a currency (the "**judgment currency**") other than Hong Kong dollars, each of the Warrantors will, jointly and
 severally, indemnify such Indemnified Party against any loss incurred by such Indemnified
 Party as a result of any variation as between (A) the rate of exchange at which the
 Hong Kong dollar amount is converted into the judgment currency for the purpose of such judgment
 or order or award, and (B) the rate of exchange at which such Indemnified Party is able
 to purchase Hong Kong dollars with the amount of the judgment currency actually received
 by such Indemnified Party. The foregoing indemnity shall constitute a separate and independent
 obligation of each of the Warrantors and shall continue in full force and effect notwithstanding
 any such judgment or order as aforesaid. The term "**rate of exchange**" shall
 include any premiums and costs of exchange payable in connection with the purchase of or
 conversion into Hong Kong dollars.

19.11 **Authority to the Overall Coordinators:** Unless otherwise provided herein, each of the CMIs, the Joint Global Coordinators, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters (other than the Overall
 Coordinators) hereby authorizes the Overall Coordinators to act on behalf of all the CMIs,
 the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and Hong Kong
 Underwriters in their sole and absolute discretion in the exercise of all rights and discretions
 granted to the Joint Global Coordinators, the CMIs, the Joint Bookrunners, Joint Lead Managers
 and the Hong Kong Underwriters or any of them under this Agreement and authorizes the Overall
 Coordinators in relation thereto to take all actions they may consider desirable and necessary
 to give effect to the transactions contemplated herein.

19.12 **Taxation**: All payments to be made
 by or on behalf of the Company or the Single Largest Group of Shareholders, as the case may
 be, under this Agreement shall be paid free and clear of and without deduction or withholding
 for or on account of, any and all present or future Taxes. If any Taxes are required by any
 Laws to be deducted or withheld in connection with such payments, the Company or the Single
 Largest Group of Shareholders, as the case may be, will increase the amount paid and/or to
 be paid so that the full amount of such payments as agreed in this Agreement is received
 by the other parties as applicable.

If any of the other parties is required by any Authority to pay any Taxes as a result of this Agreement, the Company (or the Single Largest Group of Shareholders, as the case may be) will pay an additional amount as may be necessary to such party so that the full amount of such payments as agreed in this Agreement to be paid to such party is received by such party and will further, if requested by such party, use reasonable efforts to give such assistance as such party may reasonably request to assist such party in discharging its obligations in respect of such Taxes, including by (a) making filings and submissions on such basis and such terms as such party may reasonably request, (b) as soon as possible making available to such party notices received from any Authority, and (c) subject to the receipt of funds from such party, by making payment of such funds on behalf of such party to the relevant Authority in settlement of such Taxes. For the avoidance of doubt, no additional amount will be payable by the Company (or the Single Largest Group of Shareholders, as the case may be) to any person under this Clause with respect to any Taxes imposed on any person in respect of its net income received in connection with this Agreement by a taxing jurisdiction where such person is incorporated or is a resident for tax purposes.

19.13 **Officer's Certificates:** Any
 certificate signed by any officer of a Warrantor and delivered to the Overall Coordinators
 or the Joint Sponsors or any Underwriter or any counsel for the Underwriters pursuant to
 this Agreement shall be deemed to be a representation and warranty by the relevant Warrantor,
 as to matters covered thereby, to each Overall Coordinator, Joint Sponsor or Underwriter.

19.14 **No right of contribution:** Each member
 of the Single Largest Group of Shareholders hereby irrevocably and unconditionally:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.14.1 waives any right of contribution or
 recovery or any claim, demand or action it/he may have or be entitled to take against the
 Company and/or any other member of the Group as a result of any claim or demand or action
 made or taken against it/him, or any loss or damage or liability suffered or incurred by
 it/him, whether alone or jointly with the Company or any other person, as the case may be,
 in consequence of it/he entering into this Agreement or otherwise with respect to any act
 or matter appertaining to the Global Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.14.2 acknowledges and agrees that the Company
 and/or any other member of the Group shall have no liability to it/him whatsoever whether
 alone or jointly with any other person, under the provisions of this Agreement or otherwise
 in respect of any act or matter appertaining to the Global Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.14.3 undertakes (in the event of any claim
 being made by any of the Hong Kong Underwriters or any of the other Indemnified Parties against
 it/him under this Agreement) not to make any claim against any member of the Group or any
 director, officer or employee of the Company or of any other member of the Group on whom
 it/he may have relied before agreeing to any term of this Agreement and in respect of whose
 act or default in that regard the Company or such other member of the Group is or would be
 vicariously liable.

19.15 **Right of Third Parties:** A person
 who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties)
 Ordinance to enforce any term of this Agreement, but this does not affect any right or remedy
 of a third party which exists or is available apart from the Contracts (Rights of Third Parties)
 Ordinance, and to the extent otherwise set out in this Clause 19.15:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.15.1 Indemnified Parties may enforce and
 rely on Clause 9 to the same extent as if they were a party to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.15.2 An assignee pursuant to Clause 19.3
 may enforce and rely on this Agreement as if it were a party to this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.15.3 This Agreement may be terminated or
 rescinded and any term may be amended, varied or waived without the consent of the persons
 referred to in Clause 19.15.1.

19.16 **Professional Investors**: Each of the
 Company and members of the Single Largest Group of Shareholders has read and understood the
 Professional Investor Treatment Notice set forth in Schedule 6 of this Agreement and acknowledges
 and agrees to the representations, waivers and consents contained in such notice, in which
 the expressions "**you**" or "**your**" shall mean each of
 the Company and members of the Single Largest Group of Shareholders, and "**we** "
 or "**us**" or "**our**" shall mean the Joint Sponsors and
 the Overall Coordinators (for themselves and on behalf of the Underwriters).

19.17 **Language:** This Agreement is prepared
 and executed in English only. For the avoidance of doubt, in the event that there are any
 inconsistencies between this Agreement and any translation, the English language version
 shall prevail.

19.18 **Further Assurance**: The Warrantors
 shall from time to time, on being required to do so by the Joint Sponsors and/or the Overall
 Coordinators now or at any time in the future do or procure the doing of such acts and/or
 execute or procure the execution of such documents as the Joint Sponsors and/or the Overall
 Coordinators may reasonably require to give full effect to this Agreement and secure to the
 Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators,
 the CMIs, the Joint Bookrunners, the Joint Lead Managers or the Hong Kong Underwriters or
 any of them the full benefit of the rights, powers and remedies conferred upon them or any
 of them in this Agreement.

19.19 **Survival**: The provisions in this
 Clause 19 shall remain in full force and effect notwithstanding the completion of the Global
 Offering and the matters and arrangements referred to or contemplated in this Agreement or
 the termination of this Agreement.

19.20 **Recognition of the U.S. Special Resolution Regimes** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.20.1 In the event that any Joint Sponsor,
 Overall-Coordinator or Hong Kong Underwriter that is a Covered Entity becomes subject to
 a proceeding under a U.S. Special Resolution Regime, the transfer from such Joint Sponsor,
 Overall-Coordinator or Hong Kong Underwriter of this Agreement, and any interest and obligation
 in or under this Agreement, will be effective to the same extent as the transfer would be
 effective under the U.S. Special Resolution Regime if this Agreement, and any such interest
 and obligation, were governed by the laws of the United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.20.2 In the event that any Joint Sponsor,
 Overall-Coordinator or Hong Kong Underwriter that is a Covered Entity or a BHC Act Affiliate
 of such Joint Sponsor, Overall-Coordinator or Hong Kong Underwriter becomes subject to a
 proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that
 may be exercised against such Joint Sponsor, Overall Coordinator or Hong Kong Underwriter
 are permitted to be exercised to no greater extent than such Default Rights could be exercised
 under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the
 United States or a state of the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.20.3 In this Clause 19.20:

"**BHC Act Affiliate**" has the meaning assigned to the term "affiliate" in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k).

"**Covered Entity**" means any of the following: (i) a "covered entity" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a "covered bank" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a "covered FSI" as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

"**Default Right**" has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

"**U.S. Special Resolution Regime**" means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.

**SCHEDULE 1**

**THE HONG KONG UNDERWRITERS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **No.** | <br>**Hong Kong<br> Underwriter**<br> **(Address, Addressee<br> and Email)** | **Address / Contact** | <br> **Hong Kong <br> Underwriting <br> Commitment**<br> **(Maximum<br> number of <br> Hong Kong <br> Offer Shares to<br> be underwritten)**  | <br>**Percentage<br> to be<br> underwritten** |
| 1. | China International<br> Capital<br> Corporation Hong<br> Kong Securities<br> Limited<br>| Address: 29/F One International Finance Centre, 1 Harbour View Street, Central, Hong Kong<br> Email: [\*]<br> Attention: [\*]<br>| See below | See below |
| 2. | Morgan Stanley<br> Asia Limited | Address: Level 46, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong<br> Email: [\*]<br> Attention: [\*]<br>| See below | See below |
| 3. | J.P. Morgan Securities (Asia Pacific) Limited | Address: 28/F, Chater House, 8 Connaught Road Central, Hong Kong<br> Email: [\*]<br> Attention: [\*]<br>| See below | See below |
| 4. | BOCI Asia Limited | **Address:** 26/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong<br> **Email:** [\*]<br>| See below | See below |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 5. | Futu Securities International (Hong Kong) Limited | **Address:** 34/F, United Centre, No. 95 Queensway, Admiralty, Hong Kong<br> **Email:** [\*]<br>| See below | See below |
| 6. | Daiwa Capital Markets Hong Kong Limited | **Address:** Level 28, One Pacific Place, 88 Queensway, Hong Kong<br> **Email:** [\*]<br>| See below | See below |
| 7. | ABCI Capital Limited & ABCI Securities Company Limited | **Address:** 11/F, Agricultural Bank of China Tower, 50 Connaught Road, Central, Hong Kong<br> **Email:** [\*]<br>| See below | See below |
| 8. | ICBC International Securities Limited | **Address:** 37/F, ICBC Tower, 3 Garden Road, Hong Kong<br> **Email:** [\*] | See below | See below |
|  | **Total:** |  | 4412500<br>| 100% |

---

*The Hong Kong Underwriting Commitments of the Hong Kong Underwriters referred to in (1) to (8) above shall be determined in the manner set out below.*

***A = B/C x 4,412,500 Hong Kong Offer Shares***

where:

"A" is the Hong Kong Underwriting Commitment of the relevant Hong Kong Underwriter, provided that (i) any fraction of a Share shall be rounded down to the nearest whole number of a Class A Ordinary Share, (ii) the total number of Hong Kong Offer Shares to be underwritten by the Hong Kong Underwriters shall be exactly 4,412,500, and (iii) the number of Hong Kong Offer Shares to be underwritten by each Hong Kong Underwriter may be adjusted as may be agreed by the Company and the Hong Kong Underwriters;

"B" is the number of International Offer Shares (as defined in the International Underwriting Agreement) which the relevant Hong Kong Underwriter or any of its Affiliates has agreed to purchase or procure purchasers for pursuant to the International Underwriting Agreement; and

"C" is the aggregate number of International Offer Shares (as defined in the International Underwriting Agreement) which all the Hong Kong Underwriters or any of their respective Affiliates have agreed to purchase or procure purchasers for pursuant to the International Underwriting Agreement.

**SCHEDULE 2**

**THE WARRANTIES**

**Part A: Representations and Warranties of the Warrantors**

Each of the Warrantors, jointly and severally, represents, warrants and undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and each of them as follows:

---

| | |
|:---|:---|
| **1** | **Accuracy of Information** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 (A) None of the Hong Kong Public Offering
 Documents contains or will contain any untrue statement of a material fact or omits or will
 omit to state a material fact necessary in order to make the statements made therein, in
 light of the circumstances under which they were made, not misleading, (B) the Registration
 Statement, when it became effective, did not contain and, as amended or supplemented, if
 applicable, will not contain any untrue statement of a material fact or omit to state a material
 fact required to be stated therein or necessary to make the statements therein not misleading,
 (C) each of the Registration Statement and the Final Prospectus, at the time of filing
 thereof, complied, and, as amended or supplemented, if applicable, will comply in all material
 respects with the Securities Act and the applicable rules and regulations of the SEC
 thereunder, and no notice of objection of the SEC to the use of such registration statement
 or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the
 Securities Act has been received by the Company, (D) the Time of Sale Prospectus does
 not, and at the time of each sale of the Offer Shares in connection with the offering when
 the Final Prospectus is not yet available to prospective purchasers and at each Time of Delivery,
 the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable,
 will not, contain any untrue statement of a material fact or omit to state a material fact
 necessary to make the statements therein, in the light of the circumstances under which they
 were made, not misleading, (E) each broadly available road show, if any, when considered
 together with the Time of Sale Prospectus, does not contain any untrue statement of a material
 fact or omit to state a material fact necessary to make the statements therein, in the light
 of the circumstances under which they were made, not misleading, (F) the Final Prospectus
 does not contain and, as amended or supplemented, if applicable, will not contain any untrue
 statement of a material fact or omit to state a material fact necessary to make the statements
 therein, in the light of the circumstances under which they were made, not misleading, except
 that the representations and warranties set forth in this paragraph do not apply to statements
 or omissions in the Registration Statement, the Time of Sale Prospectus or the Final Prospectus
 based upon information relating to any International Underwriter Information furnished to
 the Company in writing by such Underwriter through the Representatives expressly for use
 therein, it being understood and agreed that the only such information is that described
 in Section 13 of the International Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 Each preliminary prospectus filed as part
 of the Registration Statement as originally filed or as part of any amendment thereto, or
 filed pursuant to Rule 424 under the Securities Act, complied when so filed in all
 material respects with the Securities Act and the applicable rules and regulations
 of the SEC thereunder, and did not contain an untrue statement of a material fact or omit
 to state a material fact required to be stated therein or necessary to make the statements
 therein, in the light of the circumstances under which they were made, not misleading, and
 no order preventing or suspending the use of any preliminary prospectus has been issued by
 the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 No individual Supplemental Offering Material
 conflicts or will conflict with the Hong Kong Public Offering Documents or the Preliminary
 Prospectus, except that the representations and warranties set forth in this paragraph do
 not apply to statements or omissions made in reliance upon and in conformity with International
 Underwriter Information furnished to the Company in writing by such Underwriter through the
 Representatives expressly for use therein, it being understood and agreed that the only such
 information is that described in Section 13 of the International Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 All statements, expressions of opinion or
 intention, forward-looking statements, forecasts and estimates (including the statements
 regarding the sufficiency of working capital, future plans, use of proceeds, estimated capital
 expenditures, projected cash flows and working capital, critical accounting policies and
 estimates, indebtedness, prospects, dividends, material contracts, litigation and regulatory
 compliance) in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus,
 the Supplemental Offering Material (when considered together with the Hong Kong Public Offering
 Documents and the Preliminary Prospectus) and/or the CSRC Filings (A) have been made
 after due, careful and proper consideration; (B) were and remain based on grounds and
 assumptions referred to in each of the Hong Kong Public Offering Documents, the Preliminary
 Prospectus and/or the CSRC Filings (to the extent there are any) or otherwise based on reasonable
 grounds and assumptions; and (C) represented and continue to represent reasonable and
 fair grounds, assumptions and expectations honestly held based on facts known to each of
 the Company, any Subsidiary, and/or any of their respective directors, supervisors (if any),
 officers, employees or agents; there are and will be no other facts known or which could,
 upon due and careful inquiry, have been known to each of the Warrantors or the Directors
 the omission of which would or may make any such expression, statement, forecast or estimate
 misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 The Hong Kong Public Offering Documents contains
 and will contain (A) all information and particulars required of a prospectus and/or
 listing document to comply with the Companies Ordinance, the Companies (Winding Up and Miscellaneous
 Provisions) Ordinance, the Listing Rules, all other applicable rules and regulations
 of the Stock Exchange and all applicable Laws; and (B) all such information as investors
 and their professional advisors would reasonably require, and reasonably expect to find therein,
 for the purpose of making an informed assessment of the activities, assets and liabilities,
 business, condition (financial or otherwise), financial position, profits and losses, management
 and prospects of the Company and the Subsidiaries, taken as a whole, and the rights attaching
 to the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 As of the time of each sale of the Offer
 Shares in connection with the Global Offering when the Final Prospectus is not yet available
 to prospective purchasers, none of (A) the Time of Sale Prospectus, (B) any free
 writing prospectus, when considered together with the Time of Sale Prospectus, and (C) any
 individual Written Testing-the-Waters Communication, when considered together with the Time
 of Sale Prospectus, included, includes or will include an untrue statement of a material
 fact or omitted, omits or will omit to state a material fact necessary in order to make the
 statements therein, in the light of the circumstances under which they were made, not misleading,
 except that the representations and warranties set forth in this paragraph do not apply to
 statements or omissions in the Registration Statement, the Time of Sale Prospectus or the
 Final Prospectus based upon information relating to any International Underwriter Information
 furnished to the Company in writing by such Underwriter through the Representatives expressly
 for use therein, it being understood and agreed that the only such information furnished
 by any Underwriter consists of the Underwriters Information as defined in Section 13
 of the International Underwriting Agreement. Any individual Written Testing-the-Waters Communication
 does not conflict with the information contained in the Registration Statement or the Time
 of Sale Prospectus, and complies in all material respects with the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 All public notices, announcements and advertisements
 in connection with the Global Offering (including, without limitation, the Formal Notice)
 and all filings and submissions provided by or on behalf of the Warrantors, the Subsidiaries
 and/or any of their respective directors, supervisors (if any), officers, employees, affiliates
 (as defined in Rule 501(b) of Regulation D under the Securities Act, "**affiliates** ")
 or agents, to the Stock Exchange, the SFC, the SEC, the CSRC and/or any relevant Authority
 have complied and will comply with all applicable Laws, contain no untrue statement of a
 material fact and do not omit to state a fact necessary in order to make the statements made
 therein, in light of the circumstances under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 Without prejudice to any of the other Warranties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.1 the statements contained in the sections
 of each of the Hong Kong Public Offering Documents and the Preliminary Prospectus headed
 "Future Plans and Use of Proceeds" and "Use of Proceeds" including
 the breakdown of the estimated use of the net proceeds, represent the true and honest belief
 of the Warrantors and their respective directors (if applicable) arrived at after due, proper
 and careful consideration and inquiry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.2 the statements contained in each of
 the Hong Kong Public Offering Documents and the Preliminary Prospectus relating to Company's
 consolidated indebtedness as at close of business on August 31, 2025 are complete,
 true and accurate in all material respects and not misleading and all material developments
 in relation to the Company's indebtedness have been disclosed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.3 the statements relating to working
 capital contained in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus in the sections headed "Financial Information", "Management's
 Discussion and Analysis of Financial Condition and Results of Operations" and "Operating
 and Financial Review and Prospects" are complete, true and accurate in all material
 respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.4 the statements relating to the Group's
 liquidity and capital resources contained in each of the Hong Kong Public Offering Documents
 and the Preliminary Prospectus in the sections headed "Financial Information",
 "Management's Discussion and Analysis of Financial Condition and Results of Operations"
 and "Operating and Financial Review and Prospects" are complete, true and accurate
 in all material respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.5 the statements relating to the interests
 of the Warrantors and their respective directors (if applicable) in the share capital of
 the Company and in contracts with the Company and the Subsidiaries contained in each of the
 Hong Kong Public Offering Documents and the Preliminary Prospectus are complete, true and
 accurate in all material respects and not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.6 the statements contained in the Hong
 Kong Public Offering Documents and the Preliminary Prospectus(A) in the sections headed
 "Information about this Prospectus and the Global Offering," "Share Capital,"
 "Description of Share Capital," "Description of American Depositary Shares,"
 "Conversion Between ADSs and Class A Ordinary Shares" and "Appendix
 III—Summary of the Constitution of Our Company and Cayman Company Laws" insofar
 as they purport to describe the terms of the Offer Shares; (B) in the section headed
 "Regulatory Overview," "Appendix III—Summary of the Constitution
 of Our Company and Cayman Company Laws," "Regulations," "Taxation,"
 "Information on the Company" and "Additional Information" insofar
 as they purport to describe the provisions of Laws and regulations affecting or with respect
 to the business of the Company and the Subsidiaries; (C) in the section headed "Regulations,"
 "Taxation," "Regulatory Overview," "Appendix III—Summary
 of the Constitution of Our Company and Cayman Company Laws," "Appendix IV—Statutory
 and General Information," "Information on the Company" and "Additional
 Information" insofar as they purport to describe the provisions of the Laws and documents
 referred to therein; and (D) in the sections headed "Summary," "Appendix
 III—Summary of the Constitution of Our Company and Cayman Company Laws," "Description
 of Share Capital" and "Additional Information" insofar as they purport
 to describe the material provisions of the Articles of Association, are true, complete and
 accurate in all material aspects and are not misleading, and constitute fair and accurate
 summaries of the relevant terms, Laws, regulations and documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.7 the statements relating to dividend
 policy contained in the Hong Kong Public Offering Documents and the Preliminary Prospectus
 under the heading "Summary—Dividend and Dividend Policy", "Financial
 Information—Dividend and Dividend Policy", "Appendix III—Summary
 of the Constitution of Our Company and Cayman Company Laws", "Dividend Policy"
 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Dividend
 and Dividend Policy" and "Financial Information—Dividend Policy"
 represent the true and honest belief of the Warrantors and their respective directors (if
 applicable) arrived at after due, careful and proper consideration and inquiry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.8 the statements contained in each of
 the Hong Kong Public Offering Documents and the Preliminary Prospectus in the section headed
 "Risk Factors" and "Key Information" are complete, true and accurate
 in all material respects and not misleading and represent the true and honest belief of the
 Warrantors and their respective directors (if applicable) arrived at after due, proper and
 careful consideration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8.9 the reply to each question set out
 in the Verification Notes given by or on behalf of the Warrantors or the Subsidiaries or
 their respective directors or employees (if applicable) and all statements and information
 provided by or on behalf of any of the Warrantors or the Subsidiaries and their respective
 directors employees (if applicable) in connection with any application or submission to or
 correspondence with the Stock Exchange, the SFC, the SEC, CSRC or other applicable Authority,
 was so given by a person having appropriate knowledge and duly authorised for such purposes
 and all such replies have been given in full and in good faith and were, and except as subsequently
 disclosed in each of Hong Kong Public Offering Documents and the Preliminary Prospectus,
 remain, complete, true and accurate in all material respects and not misleading; all such
 supporting documents prepared or supplied by or on behalf of any of the Warrantors or the
 Subsidiaries or if applicable, their respective directors (or any of them) or employees have
 been given or prepared in good faith and with due care and attention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 All statistical, market-related and operational
 data and information disclosed in each of the Hong Kong Public Offering Documents and the
 Preliminary Prospectus as having come from the Warrantors has been derived from the records
 of the Company and the Subsidiaries using systems and procedures which incorporate adequate
 and effective safeguards to ensure that the information is complete, true and accurate in
 all material respects and fairly presents the information shown therein; the section entitled
 "Financial Information", "Management's Discussion and Analysis of
 Financial Condition and Results of Operations" and "Quantitative and Qualitative
 Disclosures about Market Risk" in each of the Hong Kong Public Offering Documents and
 the Preliminary Prospectus accurately describes the Company's exposure to changes in
 interest rates, liquidity, credit and foreign exchange rates, risk exposure estimates, and
 sensitivity of the Company's assets and liabilities to changes in interest rates and
 foreign exchange rates as of the dates indicated therein, and the limitations of such sensitivity
 analysis in all material respects; statistical and market-related data and information disclosed
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus as having
 come from a source other than the Warrantors are based on or derived from sources which the
 Warrantors' reasonably believe to be reliable and accurate and represent the Warrantors'
 good faith estimates that are made on the basis of data derived from such sources, and such
 data accurately reflect the information or the sources from which they are derived; and the
 Company has obtained the written consent to the use of such data from such sources to the
 extent required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 All information supplied or disclosed in
 writing or orally from time to time (and any new or additional information that updates or
 amends such information) by or on behalf of the Warrantors, the Subsidiaries, or their respective
 directors, supervisors (if any), officers, employees, or agents to the Stock Exchange, the
 SFC, the SEC, the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint Global
 Coordinators, the CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong
 Underwriters, the Reporting Accountants, the Internal Control Consultant and legal and other
 professional advisers to the Company and the International Underwriters and the Hong Kong
 Underwriters for the purposes of the Global Offering or the listing of the Shares on the
 Stock Exchange (including the answers and documents contained or referred to in the Verification
 Notes, any new or additional information serving to update or amend the Verification Notes
 supplied or disclosed in writing prior to the date hereof, the information, answers and documents
 used as the basis of information contained in each of the Hong Kong Public Offering Documents,
 the Preliminary Prospectus, the Supplemental Offering Materials, the CSRC Filings, the Investor
 Presentation Materials, the notification form to be filed with the U.S. Department of the
 Treasury pursuant to 31 C.F.R. § 850.404 or provided for or in the course of due diligence
 or the discharge by the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the Joint
 Global Coordinators, the CMIs or the Hong Kong Underwriters of their obligations under all
 applicable Laws (including the Code of Conduct, the Listing Rules, the Securities Act, the
 U.S. Department of the Treasury's Outbound Investment Security Program regulations
 and the CSRC Rules), the discharge by the Joint Sponsors of their obligations as sponsors
 under the Code of Conduct, the Listing Rules and other applicable Laws, or for the
 discharge by the Overall Coordinators and the CMIs of their respective obligations as an
 Overall Coordinator and/or a CMI under the Code of Conduct, the Listing Rules and other
 applicable Laws, and the responses to queries and comments raised by the Stock Exchange,
 the SFC, the SEC, the CSRC, the U.S. Department of the Treasury or any other Authorities
 and the documents contained therein or referred thereto, and the submissions made by or on
 behalf of the Company and/or any of the Subsidiaries) was so disclosed or made available
 in full and in good faith and was when given and except as subsequently disclosed in each
 of Hong Kong Public Offering Documents and the Preliminary Prospectus, remains complete,
 true and accurate in all material respects and not misleading.

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| | |
|:---|:---|
| **2** | **CSRC Filings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Each of the CSRC Filings is and remains complete,
 true and accurate and not misleading in any respect, and does not omit any information which
 would make the statements made therein, in light of the circumstances under which they were
 made, misleading in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 All information disclosed or made available
 in writing or orally and used as the basis of information contained in the CSRC Filings by
 or on behalf of the Company and/or any of the Subsidiaries, and/or any of their respective
 directors, officers, employees, affiliates or agents, to the CSRC, the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers, the Hong Kong Underwriters, the Reporting Accountants,
 the Internal Control Consultant, the Industry Consultant and/or the legal and other professional
 advisers for the Company for the purpose of replying to queries and comments raised by the
 CSRC (including the information, answers and documents used as the basis of information contained
 or referred to in the CSRC Filings, or provided for or in the course of due diligence or
 the discharge by the Joint Sponsors, the Sponsor-OCs, the Joint Global Coordinators, the
 CMIs, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters of their
 obligations under all applicable Laws (including the CSRC Rules), or for the discharge by
 the Overall Coordinators of their respective obligations as an Overall Coordinator under
 the Code of Conduct, the Listing Rules and other applicable Laws) was so disclosed
 or made available in full and in good faith and was, when given and remains complete, true
 and accurate and not misleading in any respect, and there is no other information which has
 not been provided the result of which would make the information so disclosed or made available
 misleading in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 The Company has complied with all requirements
 and timely submitted all requisite filings in connection with the Global Offering (including,
 without limitation, the CSRC Filing Report) with the CSRC pursuant to the CSRC Filing Rules and
 all applicable Laws, and the Company has not received any notice of rejection, withdrawal
 or revocation from the CSRC in connection with such CSRC Filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Each of the CSRC Filings made by or on behalf
 of the Company is in compliance with the disclosure requirements pursuant to the CSRC Filing
 Rules.

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| | |
|:---|:---|
| **3** | **The Company and the Subsidiaries** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Company has and upon the Listing Date
 will have the authorized and issued capital as set forth the Hong Kong Public Offering Documents
 and the Preliminary Prospectus, and all of the issued shares of the Company (A) have
 been duly authorised, registered on the register of members and validly issued; (B) are
 fully paid and non-assessable; (C) were not issued in violation of any pre-emptive,
 resale right, right of first refusal or similar rights; (D) conform to the description
 thereof contained in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus; (E) have been issued in compliance with all applicable Laws; no person
 is, or at each of (i) the date of this Agreement, (ii) the Hong Kong Prospectus
 Date, (iii) the Price Determination Date and (iv) the Listing Date will be, entitled
 to any pre-emptive, resale right, right of first refusal or other similar rights to acquire
 the Offer Shares or any other securities of the Company; and there are no outstanding securities
 convertible into or exchangeable for, or warrants, rights or options to purchase from the
 Company, or obligations of the Company to issue, the Shares or any other class of shares
 of the Company except pursuant to this Agreement and the International Underwriting Agreement.
 All of the equity interests or registered capital (as the case may be) of each Subsidiary
 have been duly authorized and validly issued, are fully paid in accordance with applicable
 laws and their respective articles of association and non-assessable and are owned directly
 or indirectly by the Company, free and clear of all liens, encumbrances, equities, or other
 claims of any third party; none of the outstanding share capital or equity interest in any
 Subsidiary was issued in violation of pre-emptive or similar rights of any security holder
 of such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Each of the Company and the Subsidiaries
 has been duly incorporated or established and is validly existing and in good standing under
 the Laws of its jurisdiction of incorporation or organization with legal right, power and
 authority (corporate and other) to own, use, lease and operate its properties and conduct
 its business in the manner presently conducted and as described in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus and is capable of suing and being
 sued in its own name.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Each of the Company and the Subsidiaries
 has been duly qualified to transact business and is in good standing under the Laws of each
 other jurisdiction in which it owns or leases properties or conducts any business that requires
 such qualification, except to the extent that the failure to be so qualified or be in good
 standing would not, individually or in the aggregate, result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 The memorandum and articles of association
 or other constituent or constitutive documents or the business license (as applicable) of
 each of the Company and the Subsidiaries comply with the requirements of the Laws of the
 jurisdiction of its incorporation or organization and are in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 Each of the Subsidiaries that is a PRC entity
 has passed each annual examination by the applicable PRC Authorities without being found
 to have any material deficiency or material default under applicable PRC Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 The Company has been duly registered as a
 non-Hong Kong company under Part 16 of the Companies Ordinance, and the memorandum
 and articles of association and other constituent or constitutive documents of the Company
 comply with the Laws of Hong Kong (including the Listing Rules).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 None of the Company or any Subsidiary has
 entered into any agreement for the establishment of any company or undertaking in which the
 Company or any Subsidiary will or agrees to own or control a majority interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 Save as disclosed in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, no person, individually or together
 with its affiliates, beneficially owns (within the meaning of Rule 13(d)(3) of
 the Exchange Act), ultimately controls or otherwise has any interest (within the meaning
 of Part XV of the Securities and Futures Ordinance) in 5% or more of any class of the
 Company's share capital through trust, contract, arrangement, understanding (whether
 formal or informal) or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 None of the Company or any of the Subsidiaries
 is conducting or proposes to conduct any business, or has acquired or proposes to acquire
 or has incurred or proposes to incur any property or asset or liability or obligation (including,
 without limitation, contingent liability or obligation), which is material to the Company
 or such Subsidiary, as the case may be, but which is not directly or indirectly related to
 the business of the Company and the Subsidiaries, taken as a whole, as described in each
 of the Hong Kong Public Offering Documents and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 Except as described in the Hong Kong Public
 Offering Documents and the Preliminary Prospectus, each of the Company and its Subsidiaries
 that was incorporated outside of PRC has complied, and has taken, or in the process of taking,
 all reasonable steps to ensure compliance by each of the Company's shareholders, option
 holders, directors and officers, employees that to the best knowledge of the Warrantors after
 due inquiry, is, or is directly or indirectly owned or controlled by, a PRC resident or PRC
 citizen with any applicable rules and regulations of the relevant PRC government agencies
 (including but not limited to the Ministry of Commerce, the National Development and Reform
 Commission, the CSRC and the State Administration of Foreign Exchange (the "**SAFE** "))
 relating to overseas investment by PRC residents and citizens or the repatriation of the
 proceeds from overseas offering and listing by offshore special purpose vehicles controlled
 directly or indirectly by PRC companies and individuals, such as the Company (the "**PRC Overseas Investment and Listing Regulations** "), including without limitation, requesting
 each of its shareholders, option holders, director, officer and employee that, to the best
 knowledge of the Warrantors after due inquiry, is, or is directly or indirectly owned or
 controlled by, a PRC resident or PRC citizen to complete any registration and other procedures
 required under applicable PRC Overseas Investment and Listing Regulations (including any
 applicable rules and regulations of the SAFE).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 The Warrantors are aware of and has been
 advised as to, the content of the Rules on Mergers and Acquisitions of Domestic Enterprises
 by Foreign Investors jointly promulgated by the Ministry of Commerce, the State Assets Supervision
 and Administration Commission, the State Tax Administration, the State Administration of
 Industry and Commerce, the CSRC and the State Administration of Foreign Exchange of the PRC
 on August 8, 2006, as amended on June 22, 2009 (together with any official clarification,
 guidance, interpretation or implementation rules related thereto, the "**M&A Rules** "), in particular the relevant provisions thereof which purport to require
 offshore special purpose vehicles, or SPVs, formed for listing purposes and controlled directly
 or indirectly by PRC companies or individuals, to obtain the approval of the CSRC prior to
 the listing and trading of their securities on an overseas stock exchange; the Company has
 received legal advice specifically with respect to the M&A Rules from its PRC counsel
 and the Company understands such legal advice; and the Company has fully communicated such
 legal advice from its PRC counsel to each of its directors that signed the Registration Statement
 and each director has confirmed that he or she understands such legal advice; the Company
 and each director of the Company that signed the Registration Statement understand the potential
 personal liability to which each director of the Company that signed the Registration Statement
 and the executive officers of the Company may be subject in the event that the offering and
 sales of the Offer Shares as contemplated in this Agreement and the International Underwriting
 Agreement or the listing and trading of the Offer Shares on the Stock Exchange and the NASDAQ
 Global Select Market were deemed not to be in compliance with the M&A Rules. The issuance
 and sale of the Offer Shares, the listing and trading of the Offer Shares on the Stock Exchange
 and the NASDAQ Global Select Market and the consummation of the transactions contemplated
 by this Agreement and the International Underwriting Agreement (i) are not and will
 not be as of the date hereof or as of each Time of Delivery adversely affected by the M&A
 Rules and (ii) do not require the prior approval of the CSRC under the M&A
 Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 The Company is in compliance with Chapter
 8A of the Listing Rules in connection with weighted voting rights. The statements relating
 to the Company's weighted voting rights structure contained in the Hong Kong Public
 Offering Documents and the Preliminary Prospectus in the section headed "Summary",
 "Risk Factors", "Waivers and Exemption", "History, Development
 and Corporate Structure", "Relationship with our Single Largest Group of Shareholders"
 "Share Capital", "Description of Share Capital" and "Additional
 Information" are complete, true and accurate in all material respects and not misleading.

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| | |
|:---|:---|
| **4** | **Offer Shares** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The Offer Shares have been duly and validly
 authorised and, when issued and delivered against payment therefor as provided in this Agreement
 or the International Underwriting Agreement, as applicable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 will be duly and validly issued and
 fully paid and non-assessable and free and clear of all Encumbrances or adverse claims;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 will have attached to them the rights
 and benefits specified in the Company's Articles of Association as described in each
 of the Hong Kong Public Offering Documents and the Preliminary Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3 will rank *pari passu* in all
 respects with the existing issued Shares, including the right to rank in full for all distributions
 declared, paid or made by the Company after the time of their allotment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.4 will be free of any restriction upon
 the holding, voting or transfer thereof under the applicable Laws or the memorandum and articles
 of association or other constituent or constitutive documents of the Company or any agreement
 or other instrument to which the Company is a party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.5 will be freely transferable by the
 Company to or for the account of the Hong Kong Underwriters (or the applicants under the
 Hong Kong Public Offering) and the International Underwriters (or purchasers procured by
 the International Underwriters) and their subsequent purchasers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 No holder of Offer Shares after the completion
 of the Global Offering is or will be subject to any personal liability in respect of the
 Company's liabilities or obligations by virtue only of its holding of any such Offer
 Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 The Offer Shares conform to the descriptions
 thereof contained in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus, including the descriptions in the sections headed "Information about this
 Prospectus and the Global Offering," "Capitalization," "Share Capital,"
 "Description of Share Capital," "Description of American Depositary Shares,"
 "Conversion Between ADSs and Class A Ordinary Shares" and "Appendix
 III—Summary of the Constitution of Our Company and Cayman Company Laws."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The certificates for the Offer Shares are
 in proper form to be legal and valid under the Laws of the Cayman Islands, PRC, Hong Kong
 and the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Except as set forth in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, there are no restrictions on subsequent
 transfers of the Offer Shares under the Laws of the Cayman Islands, the PRC, Hong Kong or
 the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Except as the over-allotment option set forth
 in the International Underwriting Agreement, no person has the right, contractual or otherwise,
 to cause the Company to issue or sell to it any Offer Shares or any other share capital of
 or other equity interests in the Company.

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| | |
|:---|:---|
| **5** | **The Underwriting Agreements and the Operative Documents** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Each of this Agreement, the International
 Underwriting Agreement, the Hong Kong Public Offering Documents, the Registration Statement,
 the Operative Documents and any other documents required to be executed by any of the Warrantors
 pursuant to the provision of this Agreement, the International Underwriting Agreement or
 the Operative Documents has been, or will be, duly and validly authorised, executed, and
 delivered by each of the Warrantors and, when validly authorised, executed and delivered
 by the other parties thereto, constitutes or will constitute a legal, valid and binding agreement
 of the respective Warrantor, enforceable in accordance with its terms, subject, as to enforceability,
 to bankruptcy, insolvency, moratorium and similar laws of general applicability relating
 to or affecting the creditors' rights and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 The statements set forth in each of the Hong
 Kong Public Offering Documents and the Preliminary Prospectus headed "Structure of
 the Global Offering" and "Underwriting," insofar as they purport to describe
 the provisions of this Agreement and the International Underwriting Agreement are complete,
 true and accurate in all material respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Each of this Agreement, the International
 Underwriting Agreement, and the Operative Documents is in proper form under the laws of the
 Cayman Islands for the enforcement thereof against the Company; and to ensure the legality,
 validity, enforceability or admissibility into evidence in the Cayman Islands of this Agreement,
 the International Underwriting Agreement, and the Operative Documents, it is not necessary
 that any such documents be submitted into, filed or recorded with any court or other authority
 in the Cayman Islands or that any stamp or similar Tax, imposition or charge in the Cayman
 Islands be paid on or in respect of any such document or any other documents to be furnished
 hereunder, except for nominal stamp duty if the documents are executed in or brought into
 the Cayman Islands. The indemnity provisions set forth in Section 9 of the Hong Kong
 Underwriting Agreement, and the indemnity and contribution provisions set forth in Section 12
 of the International Underwriting Agreement do not contravene the laws or public policy of
 the Cayman Island and the PRC.

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| | |
|:---|:---|
| **6** | **No Conflict, Compliance and Approvals** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 None of the Company or any Subsidiary is
 in breach or violation of or in default under (nor has any event occurred which, with notice
 or lapse of time or fulfilment of any condition or compliance with any formality or all of
 the foregoing, would result in a breach or violation of, constitute a default under or give
 the holder of any indebtedness (or a person acting on such holder's behalf) the right
 to require the repurchase, redemption or repayment of all or part of such indebtedness under)
 (A) its memorandum and articles of association or other constituent or constitutive
 documents and its business license (as applicable); (B) any indenture, mortgage, deed
 of trust, loan or credit agreement or other evidence of indebtedness, or any license, authorization,
 lease, contract or other agreement or instrument to which it is a party or by which it or
 any of its properties or assets may be bound or affected; or (C) any Laws applicable
 to it or any of its properties or assets, except in each case of clauses (B) and (C) as
 would not individually or in the aggregate result in a Material Adverse Effect, and have
 not received any notice of any actual or, to the best of the Company's knowledge, potential
 liability under or pursuant to any violation of applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 The execution, delivery and performance of
 this Agreement, the International Underwriting Agreement and the Operative Documents, the
 issuance and sale of the Offer Shares, the consummation of the transactions herein or therein
 contemplated and the fulfilment of the terms hereof or thereof do not and will not (A) conflict
 with, or result in a breach or violation of, any of the terms or provisions of, or constitute
 a default under (or constitute any event which, with notice or lapse of time or fulfilment
 of any condition or compliance with any formality or all of the foregoing, would result in
 a breach or violation of, constitute a default under or give the holder of any indebtedness
 (or a person acting on such holder's behalf) the right to require the repurchase, redemption
 or repayment of all or part of such indebtedness under), any indenture, contract, lease,
 mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition,
 covenant or instrument to which any of the Warrantors or any Subsidiary is a party, by which
 any of the Warrantors or any Subsidiary is bound or to which any of the property or assets
 of any of the Warrantors or any Subsidiary is subject; (B) violate any provision of
 the memorandum and articles of association or other constituent or constitutive documents
 or the business license (as applicable) of any of the Warrantors or any Subsidiary; (C) violate
 any applicable Law; or (D) result in the imposition of any Encumbrance upon any property
 or assets of the Company or any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 Except for the requisite registration of
 the Hong Kong Prospectus with the Registrar of Companies in Hong Kong and the final approval
 from the Stock Exchange for the listing of and permission to deal in the Shares on the Main
 Board, all licenses, permits, permissions, authorizations, consents, approvals, certificates,
 clearances, qualifications, franchises, orders and other concessions of and from, and all
 registrations, declarations, notifications and filings of or with, any Authority having jurisdiction
 over any of the Warrantors or the Subsidiaries, or any of their respective properties (each
 a "**Governmental Authorization**") required under any applicable Law in connection
 with (A) the Global Offering; (B) the issuance and sale of the Offer Shares;
 (C) the execution and delivery of this Agreement, the International Underwriting Agreement,
 the Operative Documents and each of the agreements relating to the Global Offering; (D) the
 performance by the Company of its obligations hereunder and the consummation of the transactions
 contemplated by this Agreement, the International Underwriting Agreement, the Operative Documents
 and each of the agreements relating to the Global Offering to which any of the Warrantors
 is a party; (E) the deposit of the Offer Shares with Hong Kong Securities Clearing
 Company Limited; and (F) the issuance, publication, distribution or making available
 of each of the Hong Kong Public Offering Documents and the Preliminary Prospectus, and for
 the Company and the Subsidiaries to carry on their business and operations as described in
 each of the Hong Kong Public Offering Documents and the Preliminary Prospectus, have been
 obtained or made and are in full force and effect (including (i) under applicable blue
 sky laws in any jurisdiction in which the Offer Shares are offered and sold and (ii) under
 the rules and regulations of the FINRA), and there is no reason to believe that any
 such Governmental Authorizations may be revoked, suspended or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 Approval in principle has been obtained from
 the listing committee of the Stock Exchange for the listing of, and permission to deal in,
 the Shares on the Main Board of the Stock Exchange, and, to the best of the Warrantors'
 knowledge, there is no reason to believe that such approval may be revoked, suspended or
 modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 The Company has taken all necessary corporate
 and other actions to authorize, and has obtained all necessary approvals and authorizations
 (including approvals and authorizations from the shareholders of the Company and the Directors)
 in connection with, the Global Offering, the use and application of the proceeds from the
 Global Offering, the issue, publication, distribution or making available of each of the
 Hong Kong Public Offering Documents and the Preliminary Prospectus, the performance by the
 Company of its obligations hereunder and the consummation of the transactions contemplated
 by this Agreement, and such approvals and authorizations are in full force and effect, and
 there is no reason to believe that any such approvals and authorizations may be revoked,
 suspended or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Each of the Company and the Subsidiaries
 (A) is in compliance with all Laws described or referred to in the Hong Kong Public
 Offering Documents and the Preliminary Prospectus in the sections headed "Regulations",
 "Regulatory Overview" and "Information of the Company" ()"**Relevant Laws** "); (B) has received all Governmental Authorization required of them
 under Relevant Laws to own, lease, license and use its property and assets and conduct their
 respective businesses; and such Governmental Authorizations are valid and in full force and
 effect and contain no conditions precedent that have not been fulfilled or performed or other
 materially burdensome restrictions or conditions not described in each of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus; and (C) is in compliance with the
 provisions of all such Governmental Authorizations; none of the Company or any of the Subsidiaries
 has received any notice of revocation or modification of any such Governmental Authorization
 or has any reason to believe that any Authority is considering modifying, suspending or revoking
 any such Governmental Authorizations; and the Company and the Subsidiaries have not received
 notice of any actual or potential liability under or violation of any Relevant Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 (A) all Governmental Authorizations
 under any Laws applicable to, or from or with any Authority having jurisdiction over, any
 of the Company or its Subsidiaries or any of their properties or assets, or otherwise from
 or with any other persons, required in connection with the use and application of the proceeds
 from the Global Offering for the purposes as set forth in each of the Hong Kong Public Offering
 Documents and the Preliminary Prospectus, have been obtained or made; and (B) the use
 and application of the proceeds from the Global Offering, as set forth in and contemplated
 by each of the Hong Kong Public Offering Documents and the Preliminary Prospectus, will not
 conflict with, or result in a breach or violation of, or constitute a default under (or constitute
 any event which, with notice or lapse of time or fulfilment of any condition or compliance
 with any formality or all of the foregoing, would result in a breach or violation of, constitute
 a default under or give the holder of any indebtedness (or a person acting on such holder's
 behalf) the right to require the repurchase, redemption or repayment of all or part of such
 indebtedness under) (i) its memorandum and articles of association or other constituent
 or constitutive documents or the business licence (as applicable), (ii) any indenture,
 mortgage, deed of trust, loan or credit agreement or other evidence of indebtedness, or any
 licence, authorization, lease, contract or other agreement or instrument to which the Company
 or any of the Subsidiaries is a party or by which it is bound or any of its properties or
 assets may be bound or affected, or (iii) any Laws applicable to the Company or any
 of the Subsidiaries or any of their properties or assets described in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, or result in the creation or imposition
 of an Encumbrance upon any property or assets of the Company or any of the Subsidiaries,
 except in case of clause (ii) as would not individually or in the aggregate result
 in a Material Adverse Effect.

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| | |
|:---|:---|
| **7** | **Accounts and Other Financial Information** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The Reporting Accountants, whose accountants'
 report on certain consolidated financial statements of the Company is included in each of
 the Hong Kong Public Offering Documents and the Preliminary Prospectus, are independent public
 accountants with respect to the Company under the Code of Ethics for Professional Accountants
 issued by the Hong Kong Institute of Certified Public Accountants and the rules and
 regulations thereunder, and the Securities Act and the applicable rules and regulations
 thereunder adopted by the SEC and the Public Company Accounting Oversight Board (United States).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 (A) The audited consolidated historical
 financial statements (and the notes thereto) of the Company and the Subsidiaries included
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus, give a
 true and fair view of the financial condition, results of operations, cash flows, comprehensive
 income and changes in shareholders' equity of the Company and its consolidated Subsidiaries
 as of the dates and for the periods indicated, and comply as to form in all material respects
 with the applicable accounting requirements of the Securities Act and have been prepared
 in conformity with the IFRS Accounting Standards ()"**IFRS**") and the accounting
 policies of the Company applied on a consistent basis throughout the periods involved; (B) [ *Reserved* ];
 (C) the profits and losses shown on such audited consolidated historical financial
 statements and selected financial data and the trend of profits and losses thereby shown
 have not been affected by any unusual or exceptional item or by any other matter which has
 rendered such profits or losses unusually high or low; (D) the summary and selected
 financial data (including any financial ratios) included in each of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus are derived from the accounting records
 of the Company and the Subsidiaries, present accurately and fairly the information shown
 therein and have been compiled on a basis consistent with that of the audited consolidated
 financial statements included therein; (E) the pro forma financial information (and
 the notes thereto) included under "Appendix II— Unaudited Pro Forma Financial
 Information" (and all other pro forma financial statements, information or data, if
 any) included in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 has been prepared in accordance with the applicable requirements of the Listing Rules and
 has been presented consistently with the relevant accounting principles adopted by the Company,
 the assumptions used in the preparation of pro forma net tangible assets and the notes thereto
 (and other pro forma financial statements, information and data, if any) are reasonable and
 are disclosed therein and there are no other assumptions or sensitivities which should reasonably
 be taken into account in the preparation of such information that are not so taken into account,
 the pro forma adjustments used therein are appropriate to give effect to the transactions
 or circumstances described therein, and the pro forma adjustments have been properly applied
 to the historical amounts in the compilation of the pro forma net tangible assets and the
 notes thereto (and other pro forma financial statements, information and data, if any); (F) the
 depreciation and amortization has been made at rates sufficient to spread the cost over their
 respective estimated useful lives to the Company; (G) there are no other financial
 statements (historical or pro forma), selected financial data (including any financial ratios)
 of the Company or the Subsidiaries that are required by any applicable Law or Listing Rules to
 be included in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 that are not included as required; (H) none of the Company or the Subsidiaries has
 any material liabilities or obligations, direct or contingent (including any litigation or
 off-balance sheet obligations) that are not described in any of the Hong Kong Public Offering
 Documents and the Preliminary Prospectus; (I) all disclosures included in the Registration
 Statement, the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus
 regarding "non-IFRS financial measures" (as such term is defined by the rules and
 regulations of SEC) comply with Regulation G of the Exchange Act and Item 10 of Regulation
 S-K of the Securities Act, to the extent applicable; and (J) there is no arrangement,
 circumstance, event, condition or development that could result in a restatement of any financial
 information disclosed in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 The prospective information as set forth
 in the sections "Summary," "Prospectus Summary," "Business,"
 "Financial Information," "Management's Discussion and Analysis of
 Financial Condition and Results of Operations" and "Operating and Financial Review
 and Prospects" of each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus and any forecasts and estimates, if any contained in the CSRC Filings (the "**Prospective Financial Information**") has been prepared after due and proper consideration, and
 represents reasonable and fair expectations honestly held, by the Company on the basis of
 facts known to the Company and the bases and assumptions stated in each of the Hong Kong
 Prospectus, the Preliminary Prospectus and the CSRC Filings, and in accordance with the Company's
 accounting policies described in each of the Hong Kong Public Offering Documents and the
 Preliminary Prospectus consistently applied; (B) the bases and assumptions used in
 the preparation of the Prospective Financial Information (i) are those that the Company
 believes are significant in forecasting the financial performance of the Company and its
 Subsidiaries, and (ii) reflect, for each relevant period, a reasonable forecast or
 estimate, as applicable, by the Company of the events, contingencies and circumstances described
 therein; and (C) the Prospective Financial Information represents, for each relevant
 period, a reasonable forecast by the Company of the financial performance of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 The unaudited consolidated management accounts
 of the Company and its Subsidiaries as of August 31, 2025 and for the two months ended
 August 31, 2025 and other accounting records of the Company (A) have been properly
 written up and present fairly, and reflect in conformity with the accounting policies of
 the Company and IFRS, all the transactions entered into by the Company or any of its Subsidiaries
 or to which the Company or any of its Subsidiaries was a party during the two months ended
 August 31, 2025; (B) contain no inaccuracies or discrepancies of any kind; and
 (C) present fairly the consolidated financial position of the Company as of August 31,
 2025 and the consolidated results of operations of the Company for the two months ended August 31,
 2025; and there has been no decrease in the class A ordinary shares and class B ordinary
 shares of the Company as of August 31, 2025 as compared to amounts shown in latest
 consolidated balance sheet of the Company as of June 30, 2025 included in each of the
 Hong Kong Public Offering Documents and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 (A) The statements in relation to the
 adequacy of the working capital of the Company as set forth in the section of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus entitled "Financial Information—Liquidity
 and Capital Resources, Working Capital Confirmation", "Management's Discussion
 and Analysis of Financial Condition and Results of Operations—Liquidity and Capital
 Resources, Working Capital Confirmation" and "Operating and Financial Review
 and Prospects" (the "**Working Capital Statement** "), in each case has
 been prepared after due and proper consideration, and represents reasonable and fair expectations
 honestly held, by the Company; (B) the bases and assumptions used in the preparation
 of the Working Capital Statement (i) are all those that the Company considers to be
 significant in making the Working Capital Statement for at least the 12-month period immediately
 following the Hong Kong Prospectus Date and (ii) reflect, for each relevant period,
 a fair and reasonable forecast by the Company of the events, contingencies and circumstances
 described therein; and (C) the Working Capital Statement represents a fair and reasonable
 forecast by the Company of the adequacy of the working capital of the Company for at least
 the 12-month period immediately following the Hong Kong Prospectus Date and that in the Company's
 view, taking into account the net proceeds to be received by the Company from the Global
 Offering, the financial resources available to the Company and the Subsidiaries, including
 the Company's consolidated cash and cash equivalents on hand, and available banking
 facilities, the working capital available to the Company and the Subsidiaries is and will
 be adequate for the Company and the Subsidiaries' present requirements and for at least
 the 12-month period immediately following the Hong Kong Prospectus Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 The statements set forth in the section entitled
 "Financial Information—Material Accounting Policies, Critical Accounting Estimates",
 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Critical
 Accounting Estimates" and "Operating and Financial Review and Prospects -Critical
 Accounting Estimates" in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus are complete, true and accurate in all material respects and not misleading and
 accurately and fully describes (A) accounting policies which the Company believes are
 the most important in the portrayal of the Company's and the Subsidiaries' financial
 condition and results of operations (the "**Critical Accounting Policies** ");
 (B) judgments and uncertainties affecting the application of the Critical Accounting
 Policies; and (C) an explanation of the likelihood that materially different amounts
 would be reported under different conditions or using different assumptions; and the Board
 and senior management of the Company have reviewed and agreed with the selection, application
 and disclosure of the Critical Accounting Policies and have consulted with the Reporting
 Accountants with regard to such selection, application and disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 The sections entitled "Financial Information",
 "Management's Discussion and Analysis of Financial Condition and Results of Operations"
 and "Operating and Financial Review and Prospects" in each of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus accurately and fairly describe (A) all
 trends, demands, commitments, events, uncertainties and risks, and the potential effects
 thereof, that the Company believes would materially affect liquidity and are reasonably likely
 to occur; (B) all material indebtedness (actual or contingent) of the Company or the
 Subsidiaries and its or their related parties; and (C) all off balance sheet transactions,
 arrangements, and obligations; and none of the Company or any Subsidiary has any material
 relationships with unconsolidated entities that are contractually limited to narrow activities
 that facilitate the transfer of or access to assets by the Company or any Subsidiary, such
 as structured finance entities and special purpose entities, that are reasonably likely to
 have a material effect on the liquidity of the Company and the Subsidiaries taken as a whole
 or the availability thereof or the requirements of the Company and the Subsidiaries taken
 as a whole for capital resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 The board memorandum of profit forecast for
 the year ending December 31, 2025 and working capital forecast for the period up to
 December 31, 2026 (the "**Profit Forecast Memorandum**") has been approved
 by the Directors and reviewed by the Reporting Accountants in connection with the Global
 Offering and prepared after due and careful inquiry and on the bases and assumptions stated
 in the Profit Forecast Memorandum which the Directors honestly believe to be fair and reasonable;
 and (A) all statements of fact in such memorandum are complete, true and accurate in
 all material respects and not misleading; (B) all forecast, estimate and expressions
 of opinion contained in the Profit Forecast Memorandum are fair and reasonable, are honestly
 held by the Directors and can be properly supported; and (C) the assumptions used in
 the preparation of the Profit Forecast Memorandum are those the Company believes are significant
 in making the profit forecast of the Group and reflect, for each relevant period, a fair
 and reasonable forecast by the Company of the events, contingencies and circumstances described
 therein; there are no other facts or assumptions which in any case ought reasonably to have
 been taken into account which have not been taken into account in the preparation of the
 Profit Forecast Memorandum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 The factual contents of the reports, letters
 or certificates of the Reporting Accountants are and will remain complete, true and accurate
 in all material respects (and where such information is subsequently amended, updated or
 replaced, such amended, updated or replaced information is complete, true and accurate in
 all material respects) and no fact or matter has been omitted therefrom which would make
 the contents of any of such reports, letters or certificates misleading, and the opinions
 attributed to the Directors in such reports or letters or certificates are held in good faith
 based upon facts within the best of their knowledge after due and careful inquiry, and none
 of the Company and the Directors disagree with any aspect of the reports, letters or certificates
 prepared by the Reporting Accountants; (B) no information was withheld from the Reporting
 Accountants for the purposes of their preparation of their report contained in each of the
 Hong Kong Public Offering Documents and the Preliminary Prospectus and the comfort letters
 to be issued by the Reporting Accountants in connection with the Global Offering and all
 information given to the Reporting Accountants for such purposes was given in good faith
 and there is no other information which has not been provided the result of which would make
 the information so received misleading; and (C) no information was withheld from the
 Reporting Accountants, the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the
 Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the CMIs or the
 Underwriters for the purposes of their review of the forecasts of profit and earnings per
 share and the unaudited pro forma adjusted consolidated net tangible assets (and other unaudited
 pro forma financial statements, information and data, if any) of the Company included in
 any of the Hong Kong Public Offering Documents and the Preliminary Prospectus their review
 of the Group's cash flow and working capital projections, estimated capital expenditures
 and financial reporting procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10 All historical financial information contained
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus (other
 than in the report of the Reporting Accountants set out in Appendix I and II to the Hong
 Kong Prospectus) has been either correctly extracted from the report of the Reporting Accountants
 set out in Appendix I and Appendix II to the Hong Kong Prospectus or is derived from the
 relevant accounting records of the Company and the Subsidiaries which the Warrantors in good
 faith believes are reliable and accurate, and are a fair presentation of the data purported
 to be shown.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11 The valuation of Level 3 financial assets
 and liabilities as included in the Hong Kong Public Offering Documents and the Preliminary
 Prospectus has been prepared after due and careful inquiry by the Company and upon bases
 and assumptions which are fair and reasonable based on facts, events and circumstances known
 to the Company.

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| | |
|:---|:---|
| **8** | **Indebtedness and Material Obligations** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 (A) Except as disclosed in the Hong
 Kong Public Offering Documents and the Preliminary Prospectus, none of the Company or any
 of the Subsidiaries has any material outstanding liabilities, term loans, other borrowings
 or indebtedness in the nature of borrowings, including, without limitation, bank overdrafts
 and loans, debt securities or similar indebtedness, subordinated bonds and hire purchase
 commitments, or any mortgage or charge or any guarantee or other contingent liabilities;
 (B) no material outstanding indebtedness of the Company or any of the Subsidiaries
 has (or, with notice or lapse of time or fulfilment of any condition or compliance with any
 formality or all of the foregoing, will) become repayable before its stated maturity, nor
 has (or, with notice or lapse of time or fulfilment of any condition or compliance with any
 formality or all of the foregoing, will) any security in respect of such indebtedness become
 enforceable by reason of default of the Company or the relevant Subsidiaries; (C) no
 person to whom any material indebtedness of the Company or any of the Subsidiaries that is
 repayable on demand is owed has demanded or, to the best of the Warrantors' knowledge,
 threatened to demand repayment of, or to take steps to enforce any security for, the same;
 (D) no circumstance has arisen such that any person is now entitled to require payment
 of any material indebtedness of any of the Company or the Subsidiaries, or under any guarantee
 of any material liability of any of the Company or the Subsidiaries, by reason of default
 of any of the Company or the Subsidiaries or any other person or under any guarantee given
 by any of the Company or the Subsidiaries; (E) none of the Company or any of the Subsidiaries
 has stopped or suspended payments of its debts, has become unable to pay its debts or otherwise
 become insolvent; and (F) all guarantees of indebtedness of the Company and its Subsidiaries
 are in full force and effect, and there are no outstanding guarantees or contingent payment
 obligations of the Company or any of the Subsidiaries in respect of indebtedness of any party
 other than the Company or any of the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 (A) The amounts borrowed by each of
 the Company and the Subsidiaries do not exceed any limitation on its borrowing contained
 in its memorandum and articles of association or other constituent or constitutive documents
 or its business license (as applicable) or in any debenture or other deed or document binding
 upon it; (B) none of the Company or any of the Subsidiaries has factored any of its
 debts or engaged in financing of a type which would not be required to be shown or reflected
 in its audited consolidated financial statements; (C) with respect to each of the borrowing
 facilities of the Company or any of the Subsidiaries, (i) such borrowing facility has
 been duly authorized, executed and delivered, is legal, valid, binding and enforceable in
 accordance with its terms and is in full force and effect, (ii) all undrawn amounts
 under such borrowing facility is or will be capable of drawdown in accordance with the terms,
 and (iii) no event has occurred, and no circumstances exist, which could cause any
 undrawn amounts under such borrowing facility to be unavailable for drawing as required;
 and (D) no event has occurred, and to the best of the Company's knowledge, no
 circumstances exist, in relation to any investment grants, loan subsidies or financial assistance
 received by or pledged to the Company or any of the Subsidiaries from or by any Authority
 in consequence of which the Company or the relevant Subsidiary is or could be held liable
 to forfeit or repay in whole or in part any such grant or loan or financial assistance.

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| | |
|:---|:---|
| **9** | **Subsequent Events** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Subsequent to the date of the latest audited
 consolidated financial statements included in each of the Hong Kong Public Offering Documents
 and the Preliminary Prospectus, none of the Company or any of the Subsidiaries has (A) entered
 into or assumed or otherwise agreed to be bound by any contract, transaction, commitment
 or agreement that is material to the Company and the Subsidiaries, taken as a whole, except
 as disclosed in the Hong Kong Public Offering Documents and the Preliminary Prospectus; (B) incurred,
 assumed or acquired or otherwise agreed to become subject to any obligation or liability,
 direct or contingent (including, without limitation, any off-balance sheet obligations),
 that is material to the Company and the Subsidiaries, taken as a whole; (C) acquired,
 sold, transferred or disposed of, or agreed to acquire, sell, transfer or dispose of any
 business, asset, business unit, or technology that is material to the Company and the Subsidiaries,
 taken as a whole; (D) entered into merger, business consolidation, joint venture, strategic
 cooperation with any other entity or business that is material to the Company and the Subsidiaries,
 taken as a whole, except as disclosed in the Hong Kong Public Offering Documents and the
 Preliminary Prospectus; (E) cancelled, waived, released or discounted in whole or in
 part any debt or claim that is material to the Company and the Subsidiaries, taken as a whole;
 (F) made any sale or transfer of any material tangible or intangible asset, created
 any mortgage or pledge, or incurred any Encumbrance on any asset or any lease of property,
 plant or equipment that is material to the Company and the Subsidiaries, taken as a whole,
 other than such Encumbrances created in the ordinary course of business and tax liens with
 respect to taxes not yet due and statutory right of customers (if any) in inventory and other
 assets; or (G) entered into an agreement or a letter of intent or memorandum of understanding
 (or announced an intention to do so) relating to any matters identified in clauses (A) through
 (G) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Subsequent to the date of the latest audited
 consolidated financial statements included in each of the Hong Kong Public Offering Documents
 and the Preliminary Prospectus, (A) none of the Company or any of the Subsidiaries
 has sustained any material loss or material interference with its business from fire, explosion,
 flood, earthquake, epidemic, pandemic, outbreak of infectious disease or other calamity,
 whether or not covered by insurance, or from any labor dispute or any action, order or decree
 of any Authority; (B) each of the Company and the Subsidiaries has carried on and will
 carry on business in the ordinary and usual course so as to maintain it as a going concern
 and in the same manner as previously carried on and since such date has not entered into
 any contract, transaction or commitment outside the ordinary course of business or of an
 unusual or onerous nature; (C) each of the Company and the Subsidiaries has continued
 to pay its creditors in the ordinary course of business and on arms' length terms; and (D) there
 has been no material changes in the relations of the business of each of the Company and
 the Subsidiaries with their respective customers, suppliers, licensors or lenders or the
 financial condition or the position, results of operations, prospects, assets or liabilities
 of said business or of the Company and the Subsidiaries as a whole as compared with the position,
 disclosed by the last audited accounts and there has been no damage, destruction or loss
 (whether or not covered by insurance) materially and adversely affecting the said business
 or the assets or properties of the Company and the Subsidiaries as a whole.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Subsequent to the respective dates as of
 which information is given in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus, there has not been (A) any changes or developments that, individually or
 in the aggregate, has or would result in a Material Adverse Effect; (B) any transaction,
 agreement or arrangement (including any letter of intent or memorandum of understanding)
 which is material to the Company and the Subsidiaries, taken as a whole; (C) any change
 in the share capital or other equity interests of any class or outstanding indebtedness of
 or in any of the Company or the Subsidiaries; or (D) any dividend or distribution of
 any kind declared, paid or made on the share capital or other equity interests of any class
 of any of the Company or the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 Subsequent to the respective dates as of
 which information is given in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus, there has been and will be no material change in the issued share capital or
 increase in short-term debt or long-term debt, inventories, trade receivables, total current
 liabilities or decrease in financial assets at FVTPL, time deposits, restricted cash, cash
 and cash equivalents or total current assets of the Group as of (i) the date of this
 Agreement, (ii) the Hong Kong Prospectus Date, (iii) the Price Determination
 Date or (iv) the Listing Date, as applicable, in each case as compared to amounts shown
 in the latest audited consolidated statements of financial position of the Company included
 in the Hong Kong Public Offering Documents and the Preliminary Prospectus; and there has
 been and will be no decreases in total revenues during the period from the date of the latest
 audited consolidated statement of profit or loss of the Company to (i) the date of
 this Agreement, (ii) the date of the Final Prospectus (if different from the date hereof)
 or (iii) each Time of Delivery, as applicable, in each case as compared to the corresponding
 periods in the preceding financial year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Except as disclosed in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, (A) none of the suppliers
 and customers of the Company or any of the Subsidiaries has owned any interest in the Company
 or any of its Subsidiaries; (B) none of the shareholders or directors of any of the
 Company or the Subsidiaries or any of their respective Associates, either alone or in conjunction
 with or on behalf of any other person, directly or indirectly interested in more than 5%
 of the Group's five largest suppliers and customers; (C) none of the Group's
 suppliers and customers are connected persons of the Group; (D) the Company and the
 Subsidiaries have not had any litigation, claims or disagreements with their suppliers and
 customers which would, or could reasonably be expected to, cause material interference with
 its business and operations; and (E) save as to the credit periods granted under the
 relevant business agreements during the ordinary course of business of the Company and the
 Subsidiaries, none of the Company or any of its Subsidiaries has provided any form of financial
 assistance to the their suppliers and customers.

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| | |
|:---|:---|
| **10** | **Assets** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 (A) Each of the Company and the Subsidiaries
 has valid title to all real property and assets that it purports to own, in each case free
 and clear of all Encumbrances and defects except such as do not materially affect the value
 of such property or asset and do not interfere with the use made and proposed to be made
 of such property or asset by the Company and its Subsidiaries; (B) each of the Company
 and the Subsidiaries has valid title to all personal assets it purports to own, in each case
 free and clear of all Encumbrances and defects, except such as would not, individually or
 in the aggregate, result in a Material Adverse Effect; (C) each lease to which the
 Company or any Subsidiary is a party has been duly executed and is legal, valid, binding
 and enforceable in accordance with its terms against the other parties thereto with such
 exceptions as are not material and do not interfere with the use made and proposed to be
 made of such lease by the Company and its Subsidiaries; (D) no material default (or
 event which with notice or lapse of time, or both, would constitute such a default) by the
 Company or any Subsidiary has occurred and is continuing or is likely to occur under any
 of such leases; (E) neither the Company nor any Subsidiary is aware of any action,
 suit, claim, demand, investigation, judgment, award or proceeding of any nature that has
 been asserted by any person which may be materially adverse to the rights or interests of
 the Company and/or the Subsidiaries under such lease, tenancy or license or may materially
 and adversely affect the rights of the Company and/or the Subsidiaries to the continued possession
 or use of such leased or licensed property or other asset; (F) the right of the Company
 and/or the Subsidiaries to possess or use such material leased or licensed property or other
 asset is not subject to any unusual or onerous terms or conditions; (G) the Company
 and the Subsidiaries do not own any real property and do not have any land-use rights or
 rights of way in respect of any real property; (H) the use of all properties leased
 by the Company and/or the Subsidiaries is in accordance with its permitted use under all
 applicable Laws and the use of any premises occupied by the Company and/or the Subsidiaries
 is in accordance with the terms provided for in the lease, tenancy, license, concession or
 agreement of whatsoever nature relating to such occupation; and (I) neither the Company
 nor any Subsidiary owns, operates, manages or has any other right or interest in any other
 material real property of any kind except as reflected in the audited consolidated financial
 statements of the Company included in each of the Hong Kong Public Offering Documents and
 the Preliminary Prospectus, and no other real properties or assets are necessary in order
 for the Company or the Subsidiaries to carry on the businesses of the Company or the Subsidiaries
 in the manner described in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 (A) Each of the Company and the Subsidiaries
 owns free of Encumbrances, or has obtained (or can obtain on reasonable terms) valid licences
 for, or other rights to use, all patents, patent applications, research work and findings,
 inventions, copyrights, trade or service marks (both registered and unregistered), trade
 or service names, domain names, know-how (including, without limitation, trade secrets and
 other unpatented and/or unpatentable proprietary or confidential information, systems or
 processes), and other proprietary information, rights or processes (collectively, the "**Intellectual Property**") described in each of the Hong Kong Public Offering Documents and the
 Preliminary Prospectus as being owned or licensed or used by them or that are necessary for
 the conduct of, or material to, their respective businesses as currently conducted or as
 proposed to be conducted; (B) each agreement pursuant to which the Company or any of
 the Subsidiaries has obtained licences for, or other rights to use, Intellectual Property
 is legal, valid, binding and enforceable in accordance with its terms, the Company and the
 Subsidiaries have complied with the terms of each such agreement, and no default (or event
 which, with notice or lapse of time or fulfilment of any condition or compliance with any
 formality or all of the foregoing, would constitute such a default) by the Company or any
 of the Subsidiaries has occurred and is continuing or is likely to occur under any such agreement,
 except which would not, individually or in the aggregate, result in a Material Adverse Effect;
 (C) there is no claim to the contrary or any challenge by any other person to the rights
 of the Warrantors or any of the Subsidiaries with respect to the Intellectual Property owned,
 applied or used by, or licensed to, the Company or any of the Subsidiaries, except which
 would not, individually or in the aggregate, result in a Material Adverse Effect; (D) none
 of the Warrantors or the Subsidiaries has infringed, misappropriated or otherwise violated,
 or is infringing, misappropriating or otherwise violating the Intellectual Property of a
 third party, and none of the Warrantors or the Subsidiaries has received notice or claim
 by a third party to the contrary; (E) there are no third parties who have been, or
 to the best of the Warrantors' knowledge after due and careful inquiry, will be able
 to establish, rights to any Intellectual Property owned, applied or used by, or licensed
 to, the Company or any of the Subsidiaries, except for, and to the extent of, the ownership
 rights of the owners of the Intellectual Property which are licensed to the Company and/or
 any of the Subsidiaries; (F) there is no infringement, misappropriation, violation
 or unauthorized use by third parties of any Intellectual Property owned, applied or used
 by, or licensed to, the Company or any of the Subsidiaries; (G) there is no pending,
 or to the best of the Warrantors' knowledge after due and careful inquiry, threatened
 action, suit, proceeding or claim by others challenging the rights of the Company or any
 of the Subsidiaries in or to any Intellectual Property owned, applied or used by, or licensed
 to, the Company or any of the Subsidiaries, and there are no facts which could form a reasonable
 basis for any such action, suit, proceeding or claim, except which would not, individually
 or in the aggregate, result in a Material Adverse Effect; (H) there is no pending,
 or to the best of the Warrantors' knowledge after due and careful inquiry, threatened
 action, suit, proceeding or claim by others challenging the validity, enforceability or scope
 of any Intellectual Property owned, applied or used by, or licensed to, the Company or any
 of the Subsidiaries and there are, to the best of the Warrantors' knowledge after due
 and careful inquiry, no facts which could form a reasonable basis for any such action, suit,
 proceeding or claim, except which would not, individually or in the aggregate, result in
 a Material Adverse Effect; (I) there is no pending, or to the best of the Warrantors'
 knowledge after due and careful inquiry, threatened action, suit, proceeding or claim by
 others that the Company or any Subsidiary infringes or otherwise violates, or would, upon
 the commercialization of any product or service described in any of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus, if any, as under development, infringe
 or violate, any Intellectual Property of others, and there are, to the best of the Warrantors'
 knowledge after due and careful inquiry, no facts which could form a reasonable basis for
 any such action, suit, proceeding or claim; (J) there is no patent or patent application
 that contains claims that interfere with the issued or pending claims of any of the Intellectual
 Property owned, applied or used by, or licensed to, the Company or any of the Subsidiaries
 or that challenges the validity, enforceability or scope of any of the Intellectual Property
 owned, applied or used by, or licensed to, the Company or any of the Subsidiaries, except
 which would not, individually or in the aggregate, result in a Material Adverse Effect; (K) there
 is no prior art that may render any patent application within the Intellectual Property unpatentable
 that has not been disclosed to any Authority in the jurisdictions in which the Company or
 any of the Subsidiaries operates having jurisdiction over intellectual property matters;
 and (L) all employees or contractors engaged in the development of Intellectual Property
 on behalf of the Company or any Subsidiary of the Company have executed an invention assignment
 agreement whereby such employees or contractors presently assign all of their right, title
 and interest in and to such Intellectual Property to the Company or the applicable Subsidiary,
 and to the best of the Warrantors' knowledge, no such agreement has been breached or
 violated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 (A) The information technology assets
 and equipment, computers, computer systems, communications systems, networks, software, hardware,
 websites, applications and database (collectively "**Information Technology** ")
 owned, used, licensed by or to the Company and the Subsidiaries comprise all the information
 technology systems and related rights reasonably necessary to conduct, or material to, the
 operation of the business of the Company and the Subsidiaries; (B) the Information
 Technology are adequate for, and operate and perform as required in connection with, the
 operation of the business of the Company and the Subsidiaries, taken as a whole, as currently
 conducted; (C) all Information Technology which is reasonably necessary for the business
 of the Company and the Subsidiaries is either legally and beneficially owned by the Company
 or the Subsidiaries or lawfully used under valid licenses granted by the registered proprietor(s) or
 beneficial owner(s) thereof or may be obtained or licensed under reasonable commercial
 terms; (D) each agreement pursuant to which the Company or each Subsidiary has obtained
 licenses for, or other rights to use, the Information Technology is legal, valid, binding
 and enforceable in accordance with its terms; the Company and the Subsidiaries have complied
 with the terms of each such agreement in all material respects, and each such agreement is
 in full force and effect; and no material default (or event which, with notice or lapse of
 time or fulfilment of any condition or compliance with any formality or all of the foregoing,
 would constitute such a default) by the Company or any of the Subsidiaries has occurred and
 is continuing or is likely to occur under any such agreement; and none of the Company or
 any Subsidiary has given or received any notice to or from any party to terminate any such
 agreement; (E) all material records and systems (including but not limited to the Information
 Technology) and all material data and information of the Company and the Subsidiaries are
 maintained and operated by the Company and the Subsidiaries and are not wholly or partially
 dependent on any facilities not under the exclusive ownership or control of the Company and
 the Subsidiaries; (F) in the event that the persons providing maintenance or support
 services for the Company and the Subsidiaries with respect to the Information Technology
 cease or are unable to provide such services, the Company and the Subsidiaries have all the
 necessary rights and information to continue, in a reasonable manner, to maintain and support
 or have a third party maintain or support the Information Technology; (G) there are
 no material defects relating to the Information Technology; (H) each of the Company
 and the Subsidiaries has in place procedures to prevent unauthorized access and the introduction
 of viruses to the Information Technology and to enable the taking and storing of back-up
 copies of the software and data; (I) each of the Company and the Subsidiaries has in
 place adequate back-up policies and disaster recovery arrangements which enable its Information
 Technology and the data and information stored thereon to be replaced and substituted without
 material disruption to the business of the relevant Group Company; (J) the Company
 and each of its Subsidiaries have taken all technical and organizational measures necessary
 to protect the information technology systems and Personal and Confidential Data used in
 connection with the operation of the Company's and its Subsidiaries' businesses;
 without limiting the foregoing, the Company and its Subsidiaries have used reasonable efforts
 to establish and maintain, and have established, maintained, implemented and complied in
 all material respects with, reasonable information technology, information security, cyber
 security and data protection controls, policies and procedures that are designed to protect
 against and prevent breach, destruction, loss, unauthorized distribution, use, access, disablement,
 misappropriation or modification, or other compromise or misuse of or relating to any information
 technology system or Personal and Confidential Data used in connection with the operation
 of the Company's and its Subsidiaries' businesses ()"**Breach** ");
 there has been no such Breach that is material to the Company and its Subsidiaries taken
 as a whole, and the Company and its Subsidiaries have not been notified of and have no knowledge
 of any event or condition that would reasonably be expected to result in, any such material
 Breach; (K) the Company has not received any notification of or complaint regarding
 and is unaware of any other facts that, individually or in the aggregate, would reasonably
 indicate non-compliance with any Data Security Obligation in any material respects; and (L) there
 is no action, suit or proceeding (including, without limitation, governmental investigations
 or inquiries) by or before any Authority involving the Company or any of its Subsidiaries
 with respect to applicable data privacy and security laws pending or, to the best of the
 Company's knowledge, threatened alleging non-compliance with any Data Security Obligation,
 except those that would not, individually or in the aggregate, cause a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 There are no material bugs or viruses, logic
 bombs, or other contaminants (including without limitation, "worm" or "Trojan
 horses") in or failures or breakdowns of any material computer hardware or software
 or any other material Information Technology equipment used in connection with the business
 of the Company or any of the Subsidiaries which is necessary for the business of the Company
 or the relevant Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 The Group has implemented and maintained
 commercially reasonable controls, policies, procedures, and safeguards to maintain and protect
 their material confidential information and the integrity, continuous operation, redundancy
 and security of all Information Technology and data (including all personal, personally identifiable,
 household, sensitive, confidential or regulated data, or any such data that may constitute
 trade secrets and working secrets of any Authority or any other data that would otherwise
 be detrimental to national security or public interest pursuant to the applicable Laws (the
 "**Personal and Confidential Data** ")) used in connection with their businesses
 and/or the Global Offering, and there have been no breaches, violations, outages, leakages
 or unauthorized uses of or accesses to the same, except for those that have been remedied
 without material cost or liability or the duty to notify any other person. The Company and
 each of its Subsidiaries have complied and are presently in material compliance with all
 internal and external privacy policies, contractual obligations, applicable laws, statutes,
 rules and regulations, and the judgments, orders issued to the Company by any Authority,
 in each case, relating to the collection, use, transfer, import, export, storage, protection,
 disposal and disclosure by the Company or any of its Subsidiaries of personal, personally
 identifiable, household, sensitive, confidential or regulated data ()"**Data Security Obligations** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 (A) The Company and its Subsidiaries
 use and have used any and all software and other materials distributed under a "free,"
 "open source," or similar licensing model ()"**Open Source Software** ")
 in compliance with all license terms applicable to such Open Source Software; and (B) neither
 the Company nor any of its Subsidiaries uses or distributes or has used or distributed any
 Open Source Software in any manner that requires or has required (i) the Company or
 any of its Subsidiaries to permit reverse engineering of any software code or other technology
 owned by the Company or any of its Subsidiaries or (ii) any software code or other
 technology owned by the Company or any of its Subsidiaries to be (1) disclosed or distributed
 in source code form, (2) licensed for the purpose of making derivative works or (3) redistributed
 at no charge.

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| | |
|:---|:---|
| **11** | **Compliance with Employment and Labor Laws** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Except as disclosed in each of the Hong
 Kong Public Offering Documents and the Preliminary Prospectus, none of the Company and the
 Subsidiaries has any material obligation to provide housing, provident fund, social insurance,
 severance, pension, retirement, death, social security or disability benefits or other actual
 or contingent employee benefits to any of its present or past employees or to any other person;
 all housing, provident fund, social insurance, severance, pension, retirement, death, social
 security or disability benefits or other actual or contingent employee benefits to any of
 the present or past employees of each of the Company and the Subsidiaries arising from their
 employment with the Company or such Subsidiary are fully provided for by way of an adequately
 funded pension scheme established for and on behalf of the Company or such Subsidiary that
 is or was the employer of such person or established by the Company or such Subsidiary in
 the name of the relevant present or past employees; there are no material amounts owing or
 promised to any present or former directors, employees or consultants of the Company or any
 Subsidiary other than remuneration accrued, due or for reimbursement of business expenses;
 no director or senior management or key employee of the Company or any Subsidiary has given
 or been given notice terminating their contracts of employment; there is no proposal to terminate
 the employment or consultancy of any director, senior management, key employee or consultant
 of the Company or any Subsidiary or to vary or amend their terms of employment or consultancy
 (whether to their detriment or benefit) except for those that would not, individually or
 in the aggregate, result in a Material Adverse Effect; none of the Company and the Subsidiaries
 has any material undischarged liability to pay to any Authority in any jurisdiction any Taxation,
 contribution or other impost arising in connection with the employment or engagement of directors,
 senior management, key employees or consultants; no liability has been incurred by the Company
 or any Subsidiary for breach of any director's, employee's or consultant's
 contract of service, contract for services or consultancy agreement, redundancy payments,
 compensation for wrongful, constructive, unreasonable or unfair dismissal, failure to comply
 with any order for the reinstatement or re-engagement of any director, employee or consultant,
 or the actual or proposed termination or suspension of employment or consultancy, or variation
 of any terms of employment or consultancy of any present or former employee, director or
 consultant of the Company or any Subsidiary; where the Company or any Subsidiary participates
 in, or has participated in, or is liable to contribute to any such scheme, the Company or
 such Subsidiary has complied with the requirements to make contributions to such schemes
 in accordance with the terms thereof; and neither the Company nor any Subsidiary has any
 financial obligation to any Authority or any social security fund or other fund maintained
 by any Authority in connection with the Global Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Except as would not have a Material Adverse
 Effect, all contracts of service, contracts for services and consultancy agreements in relation
 to the employment of the directors, consultants and employees of the Company and/or the Subsidiaries
 are on usual and normal terms which do not and will not in any way whatsoever impose any
 unusual or onerous obligation on the Company or the relevant Subsidiaries and the subsisting
 contracts of service, contracts for services and consultancy agreements to which the Company
 and/or the Subsidiaries is a party are legal, valid, binding and enforceable and are determinable
 at any time on reasonable notice without compensation (except for statutory compensation
 or as provided in the articles of association of the Company) and there are no claims pending
 or to the best of the Warrantors' knowledge, threatened or capable of arising against
 the Company or the Subsidiaries, brought by any director, senior manager, consultant, employee
 or third party, in respect of any accident or injury not fully covered by insurance; each
 of the Company and/or the Subsidiaries has, in relation to its respective directors, employees
 or consultants (and so far as relevant, to each of its respective former directors, employees
 or consultants), complied in all respects with all terms and conditions of such directors',
 employees' or consultants' (or former directors', employees' or consultants')
 contracts of services, employment or consultancy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Save as disclosed in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, none of the Directors has a service
 contract with any of the Company or its Subsidiaries which is required to be disclosed in
 the Hong Kong Public Offering Documents and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 No material labor dispute, work stoppage,
 slow down or other conflict with the employees of the Company or any Subsidiary exists, or,
 to the best of the Company's knowledge, is imminent, contemplated or threatened; and
 the Company is not aware of any existing, threatened or imminent labor disturbance by or
 dispute with the employees of any of its or any Subsidiary's principal suppliers, manufacturers,
 contractors or customers that could, individually or in the aggregate, have a Material Adverse
 Effect; and there has been no violation of any applicable labor and employment Laws by any
 of the Company or its Subsidiaries, or to the best of the Warrantors' knowledge after
 due and careful inquiry, by any of the principal suppliers or contractors of any of the Company
 or its Subsidiaries.

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| | |
|:---|:---|
| **12** | **Compliance with Environmental Laws** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 The Company and the Subsidiaries and their
 respective properties, assets, facilities and operations comply with, and each of the Company
 and the Subsidiaries holds, and are in compliance with, all Governmental Authorizations required
 under, Environmental Laws (as defined below) in all material respects; there are no past,
 present or reasonably anticipated future events, conditions, circumstances, activities, practices,
 actions, omissions or plans that could give rise to any material costs or liabilities to
 the Company or any Subsidiary under, or to interfere with or prevent compliance by the Company
 or any Subsidiary with, Environmental Laws; and none of the Company and the Subsidiaries
 (A) is the subject of any investigation; (B) has received any notice or claim;
 (C) is a party to or affected by any pending or threatened action, suit or proceeding;
 (D) is bound by any judgment, decree or order, or (E) has entered into any agreement,
 in each case relating to any alleged violation of any Environmental Law or any actual or
 alleged release or threatened release or clean-up at any location of any Hazardous Materials
 (as defined below); as used herein, "**Environmental Law**" means any Law
 relating to health, safety, the environment (including, without limitation, the protection,
 clean-up and restoration thereof and timely and proper completion of all relevant environmental
 protection acceptance procedures and receipt and renewal of all relevant pollutants emission
 permits), natural resources or Hazardous Materials (as defined below), including, without
 limitation, the distribution, processing, generation, treatment, storage, disposal, transportation,
 other handling or release or threatened release of Hazardous Materials, and "**Hazardous Materials**" means any material (including pollutants, contaminants, hazardous or
 toxic substances or wastes) that is regulated by or may give rise to liability under any
 Environmental Law.

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| | |
|:---|:---|
| **13** | **Cybersecurity and Data Protection** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 (A) Each of the Company and the Subsidiaries
 has complied with all applicable Laws concerning cybersecurity, data protection, cross-border
 data transfer, the privacy and security of Information Technology and Personal Data and confidentiality
 and archive administration ()"**Data Protection Laws**") in all material aspects;
 (B) neither the Company nor any of the Subsidiaries is, or is expected to be classified
 as, a "critical information infrastructure operator" under the Cybersecurity
 Law of the PRC; (C) neither the Company nor any of the Subsidiaries is subject to any
 investigation, inquiry or sanction relating to the Data Protection Law or from the Cyberspace
 Administration of China ()"**CAC** "), the CSRC, or any other relevant Authority;
 (D) neither the Company nor any of the Subsidiaries has received any notice (including,
 without limitation, any enforcement notice, de-registration notice, cybersecurity review
 or transfer prohibition notice), letter, complaint or allegation from the relevant cybersecurity,
 data privacy, confidentiality or archive administration Authority alleging any breach or
 non-compliance by it of the applicable Data Protection Laws or prohibiting the transfer of
 data to a place outside the relevant jurisdiction; (E) neither the Company nor any
 of the Subsidiaries has received any claim for compensation from any person in respect of
 its business under Data Protection Laws or industry standard in respect of inaccuracy, loss,
 unauthorized destruction or unauthorized disclosure of data and there is no outstanding order
 against the Company or any of the Subsidiaries in respect of the rectification or erasure
 of data; (F) no warrant has been issued authorizing the cybersecurity, data privacy,
 confidentiality or archive administration Authority (or any of its officers, employees or
 agents) to enter any of the premises of the Company or any of the Subsidiaries for the purposes
 of, inter alia, searching them or seizing any documents or other material found there; (G) neither
 the Company nor any of the Subsidiaries has received any communication, inquiry, notice,
 warning or sanctions with respect to the Cybersecurity Law of the PRC or from the CAC or
 pursuant to the Data Protection Laws (including, without limitation, the CSRC Archive Rules);
 (H) the Company is not aware of any pending or threatened investigation, inquiry or
 sanction relating to cybersecurity, data privacy, confidentiality or archive administration,
 or any cybersecurity review, by the CAC, the CSRC, or any other relevant Authority on the
 Company or any of the Subsidiaries or any of their respective directors, officers and employees;
 (I) the Company is not aware of any pending or threatened actions, suits, claims, demands,
 investigations, judgments, awards and proceedings on the Company or any of the Subsidiaries
 or any of their respective directors, officers and employees pursuant to the Data Protection
 Laws (including, without limitation, the CSRC Archive Rules); and (J) neither the Company
 nor any of the Subsidiaries has received any objection to this Global Offering or the transactions
 contemplated under this Agreement from the CSRC, the CAC or any other relevant Authority,
 except where in the case of (A), (C), (D), (E), (F), (G), (H) and (I), any such breach,
 violation or default would not, individually or in the aggregate, have a Material Adverse
 Effect. The statements disclosed or made available in writing or orally and used as the basis
 of information contained in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus relating to the cybersecurity and data privacy related matters in the sections
 headed "Risk Factors," "Business," "Regulatory Overview,"
 "Prospectus Summary," "Regulations," "Key Information,"
 "Information of the Company" and "Cybersecurity" are complete, true
 and accurate in all material respects and not misleading.

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| | |
|:---|:---|
| **14** | **Insurance** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 Each of the Company and the Subsidiaries
 is insured by insurers of recognized financial responsibility against such losses and risks
 and in such amounts as are prudent and customary in the markets and businesses in which they
 are engaged; all policies of insurance and fidelity or surety bonds insuring the Company
 or any Subsidiary, or their respective businesses, assets and employees are in full force
 and effect; none of the insurance policies or instruments in respect of the assets of the
 Company and/or the Subsidiaries is subject to any special or unusual terms or restrictions
 or to the payment of any premium in excess of normal life; the Company and the Subsidiaries
 are in compliance with the terms of such policies and instruments; there are no claims by
 the Company or any Subsidiary under any such policy or instrument as to which any insurance
 company is denying liability or defending under a reservation of rights clause; none of the
 Company and the Subsidiaries has been refused any material insurance coverage sought or applied
 for; and none of the Company and the Subsidiaries has any reason to believe that it will
 not be able to renew its existing insurance coverage as and when such coverage expires or
 to obtain similar coverage from similar insurers as may be necessary to continue its business
 as currently conducted or as proposed to be conducted at a cost that would not, individually
 or in the aggregate, have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 The description of the insurance coverage
 of the Company and the Subsidiaries contained in the Hong Kong Public Offering Documents
 and the Preliminary Prospectus is true and accurate in all material respects and not misleading.

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| | |
|:---|:---|
| **15** | **Internal Controls** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Save as disclosed in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, each of the Company and the Subsidiaries
 has established and maintains procedures which provide a reasonable basis for the directors
 to make proper assessments as to the financial position and prospects of the Company and
 the Subsidiaries, and each of the Company and the Subsidiaries maintains a system of internal
 accounting controls sufficient to provide reasonable assurance that (A) transactions
 are executed in accordance with management's general or specific authorizations; (B) transactions
 are recorded as necessary to permit preparation of returns and reports to regulatory bodies
 as and when required by them and financial statements (and the notes thereto) in conformity
 with IFRS, other relevant generally accepted accounting principles or applicable accounting
 requirements, and maintain accountability for assets; (C) access to assets is permitted
 only in accordance with management's general or specific authorization; (D) the
 recorded accountability for assets is compared with existing assets at reasonable intervals
 and appropriate actions are taken with respect to any differences; (E) each of the
 Company and the Subsidiaries has made and kept books, records and accounts which, in reasonable
 detail, accurately and fairly reflect the transactions and dispositions of assets of such
 entity and provide a sufficient basis for the preparation of the Company's consolidated
 financial statements and notes thereto in accordance with IFRS, other relevant generally
 accepted accounting principles or applicable accounting requirements; and (F) such
 internal accounting and financial reporting controls are effective to perform the functions
 for which they were established and documented properly and the implementation of such internal
 accounting and financial reporting controls are monitored by the responsible persons; and
 the Company's current management information and accounting control system has been
 in operation for at least three years during which none of the Company and the Subsidiaries
 has experienced any material difficulties with regard to (A) through (F) above
 or with regard to ascertaining at any point in time the differences in real time between
 budgeted and actual expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 The Company's internal control over
 financial reporting is effective, and except as described in each of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus, there are no material weaknesses or deficiencies
 in the Company's and the Subsidiaries' internal control over accounting and financial
 reporting (whether or not remediated) and no changes in the Company's and the Subsidiaries'
 internal control over accounting and financial reporting or other factors that have materially
 and adversely affected, or could reasonably be expected to materially and adversely affect,
 the Company's and the Subsidiaries' internal control over accounting and financial
 reporting. Nothing has come to the attention of the auditors and the audit committee of the
 Board of the Company that have caused them to believe, (i) except as described in each
 of the Hong Kong Public Offering Documents and the Preliminary Prospectus, any significant
 deficiencies and material weaknesses in the design or operation of internal controls over
 financial reporting which have adversely affected or are reasonably likely to adversely affect
 the Company's ability to record, process, summarize and report financial information;
 and (ii) any fraud, whether or not material, that involves management or other employees
 who have a significant role in the Company's internal controls over financial reporting.
 The Company maintains "disclosure controls and procedures" (as such term is defined
 in Rule 13a-15(e) under the Exchange Act) that complies with the requirements
 of the Exchange Act, and such disclosure controls and procedures have been designed to ensure
 that material information relating to the Company and its Subsidiaries is made known to the
 Company's principal executive officer and principal financial officer by others within
 those entities; and such disclosure controls and procedures are effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 The Company has established and maintains
 corporate governance practices in accordance with the Code Provisions in the Corporate Governance
 Code as set forth in Appendix C1 to the Listing Rules; each of the Company and the Subsidiaries
 has established and maintains and evaluates disclosure and corporate governance controls
 and procedures to ensure that (A) information relating to the Company or any of the
 Subsidiaries is made known in a timely manner to the Board and management by others within
 those entities; and (B) the Company and the Board and management comply in a timely
 manner with the requirements of the Listing Rules, the Hong Kong Codes on Takeovers and Mergers
 and Share Buy-backs, the SFO, the Companies (Winding Up and Miscellaneous Provisions) Ordinance
 and the Companies Ordinance and any other applicable Laws, including the requirements of
 the Listing Rules on disclosure of inside information and notifiable, connected and
 other transactions required to be disclosed, and such disclosure and corporate governance
 controls and procedures are effective to perform the functions for which they were established
 and documented properly and the implementation of such disclosure and corporate governance
 controls and procedures policies are monitored by the responsible persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4 None of the deficiencies and issues identified
 in the internal control report prepared by the Internal Control Consultant would or could
 reasonably be expected to, individually or in the aggregate, materially and adversely limit,
 restrict or otherwise affect the ability of the Company or its Subsidiaries to comply with
 any applicable Laws. Any issues or deficiencies identified and as disclosed in such internal
 control report have been rectified or improved to a sufficient standard or level for the
 operation and maintenance of efficient systems of internal accounting and financial reporting
 controls and disclosure and corporate governance controls and procedures that are effective
 to perform the functions for which they were established and to allow compliance by the Company
 and the Board with all applicable Laws, and no such issues have materially and adversely
 affected, or could reasonably be expected to materially and adversely affect, such controls
 and procedures or such ability to comply with all applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5 The statutory books, books of account and
 other records of the Company and the Subsidiaries are up-to-date and contain complete and
 accurate records required by Laws to be dealt with in such books, and no notice or allegation
 that any is incorrect or should be rectified has been received; all accounts, documents and
 returns required by Laws to be delivered or made to the Registrar of Companies in Hong Kong,
 the SFC or any other Authority have been duly and correctly delivered or made.

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| | |
|:---|:---|
| **16** | **Compliance with Bribery, Anti-Money Laundering, Sanctions and Export Control Laws** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 (A) None of the Warrantors, the Subsidiaries,
 their respective directors, supervisors (if any), officers, or employees, or, to the Warrantors'
 knowledge, any agents, affiliates, representatives or other person acting on behalf of the
 Warrantors or any of Subsidiaries or their respective affiliates (collectively, the "**Group Relevant Persons** "), is an individual or entity ()"**Person**") that
 is, or is owned or controlled by a Person that is, targeted by or subject to any Sanctions
 Laws and Regulations (as defined below); (B) none of the Group Relevant Persons (x) is
 located, organised or resident in a country, region or territory that is, or whose government
 is, targeted by or subject to any Sanctions Laws and Regulations (including, without limitation,
 the so-called Donetsk People's Republic, the so-called Luhansk People's Republic of
 Ukraine, Kherson, Zaporizhzhya and the Crimea region of Ukraine, Cuba, Iran, North
 Korea and Syria (each, a "**Sanctioned Country** ")), (y) undertakes
 any transactions, or has any connections, with any country or territory, person, or entity
 subject to any Sanctions Laws and Regulations or any person or entity in those countries
 or territories or performing contracts in support of projects in or for the benefit of those
 countries or territories, (z) is engaged in any activities sanctionable under the Comprehensive
 Iran Sanctions, Accountability, and Divestment Act of 2010, the Iran Sanctions Act, the Iran
 Threat Reduction and Syria Human Rights Act, or any applicable executive order; (C) the
 Company will use the proceeds from the Global Offering exclusively in the manner set forth
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus in the
 sections headed "Future Plans and Use of Proceeds" and "Use of Proceeds"
 and will not, directly or indirectly, use such proceeds, or lend, contribute or otherwise
 make available such proceeds to any Subsidiary or their respective joint venture partners
 or other Person (x) for the purpose of financing or facilitating any activities or
 business of or with any Person that is subject to or the target of Sanctions Laws and Regulations,
 or of, with or in the Sanctioned Countries, or any country, region or territory that is targeted
 by or subject to any Sanctions Laws and Regulations, at the time of such funding or facilitation,
 or (y) in any other manner that will result in a violation (including by any person
 or entity participating in the sale of the Offer Shares, whether as underwriter, advisor,
 investor or otherwise) of any of the Sanctions Laws and Regulations; (D) each of the
 Warrantors and the Subsidiaries is in compliance with all export control and import laws
 and regulations in the U.S., China and other countries, including the U.S. Export Administration
 Regulations (the "**EAR** "), the U.S. Customs regulations, and various economic
 sanctions regulations administered by the Office of Foreign Assets Control of the U.S. Department
 of the Treasury (the "**OFAC** "); (F) [ *Reserved* ]; (G) the
 Warrantors and the Subsidiaries covenant not to engage, directly or indirectly, in any other
 activities that would result in a violation of Sanctions Laws and Regulations by any Person
 (including any Person participating in the Global Offering); and (H) since April 24,
 2019, the Group Relevant Persons have not knowingly engaged in, are not now knowingly engaged
 in, and will not engage in, any dealings or transactions directly or indirectly with any
 Person, or in any country, region or territory, that at the time of the dealing or transaction
 is or was, or whose government was, the subject or target of a Sanctions Laws and Regulations
 or any entity owned or controlled by a Person who is the target of the Sanctions Laws and
 Regulations, or with any Sanctioned Country, or that would result in a violation of Sanctions
 Laws and Regulations by any Person (including any Person participating in the offering of
 the Offer Shares); as used herein, "**Sanctions Laws and Regulations**" means
 (i) any U.S. sanctions related to or administered or enforced by the U.S. government,
 including but not limited to the OFAC, the BIS or the U.S. Department of State, including,
 without limitation, designation on the Specially Designated National or Blocked Person ()"**SDN** ")
 List, the Chinese Military Industrial Complex Companies ()"**CMIC**") List,
 the Entity List or the Military End User List, (ii) any sanctions or requirements imposed
 by, or based upon the obligations or authorities set forth in, the U.S. Trading With the
 Enemy Act, the U.S. International Emergency Economic Powers Act, the U.S. United Nations
 Participation Act or the U.S. Syria Accountability and Lebanese Sovereignty Act, all as amended,
 or any of the foreign assets control regulations of the U.S. Department of the Treasury (including
 31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order
 relating thereto and (iii) any sanctions or measures imposed by the United Nations
 Security Council, the European Union (including under Council Regulation (EC) No. 194/2008),
 His Majesty's Treasury of the United Kingdom, the Swiss State Secretariat for Economic
 Affairs, the Monetary Authority of Singapore, the Hong Kong Monetary Authority, the Cayman
 Islands Monetary Authority, or other relevant sanctions authorities or other relevant sanctions
 or export control authority of any Authority. The Company has instituted and maintained policies
 and procedures designed to ensure continued compliance therewith (including ensuring continued
 compliance of the Subsidiaries) and with the representation and warranty contained herein.
 The issue and sale of the Offer Shares, and the execution, delivery and performance of this
 Agreement, the consummation of any other transaction contemplated hereby, or the provision
 of services contemplated by this Agreement to the Company will not result in any violation
 of the Sanctions Laws and Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 None of the Group Relevant Persons is aware
 of or has, directly or indirectly, made or authorised (A) the payment of any money
 or the giving of anything of value to any official, employee, agent, representative or any
 other person acting in an official capacity for any Government Entity (as defined below),
 including personnel of hospitals (public and private) and local governments, to any political
 party or official thereof or to any candidate for public office, any member of a royal or
 ruling family, or immediate family members and close associates of all parties mentioned
 above (each a "**Government Official**") or to any person under circumstances
 where a Group Relevant Person knew or was aware of a high probability that all or a portion
 of such money or thing of value would be offered, given or promised, directly or indirectly,
 to any Government Official, where either the payment, the contribution or the gift, or the
 purpose thereof, was, is, or would be prohibited under any applicable anti-corruption Laws;
 (B) used any funds for any unlawful contribution, gift, entertainment or other unlawful
 expense relating to political activity; or (C) made, offered, agreed, requested or
 taken an act in furtherance of any bribe or other unlawful benefit, rebate, payoff, influence
 payment, kickback or other unlawful or improper payment or benefit; without prejudice to
 the foregoing, none of the Group Relevant Persons has violated or is in violation of Anti-Corruption
 Laws (as used here, "**Anti-Corruption Laws**" means the United States Foreign
 Corrupt Practices Act of 1977, the United Kingdom Bribery Act of 2010, the relevant provisions
 of the Criminal Law of the PRC, the Anti- Unfair Competition Law of the PRC, the Provisional
 Regulations on Anti-Commercial Bribery, the Prevention of Bribery Ordinance (Chapter 201
 of the Laws of Hong Kong), any legislation implementing the Organization for Economic Cooperation
 and Development Convention on Combating Bribery of Foreign Public Officials in International
 Business Transactions, and any other applicable anti-bribery or anti-corruption laws, rules or
 regulations); and the Warrantors and the Subsidiaries and their affiliates have conducted
 their businesses in compliance with Anti-Corruption Laws and have instituted, maintained
 and enforced, and will continue to maintain and enforce, policies and procedures designed
 to promote and achieve continued compliance with such laws and with the representations and
 warranties contained herein; no investigation, action, suit or proceedings by or before any
 court or governmental agency, authority or body or any arbitrator involving the Company or
 any of the Subsidiaries with respect to the Anti-Corruption Laws is pending or to the best
 of the Warrantors' knowledge, threatened; none of the Company or any of its Subsidiaries
 will use, directly or indirectly, the proceeds of this Global Offering in furtherance of
 an offer, payment, promise to pay, or authorization of the payment or giving of money, or
 anything else of value, to any person in violation of any Anti-Corruption Laws; as used herein,
 "**Government Entity**" means any government or any department, agency or
 instrumentality thereof, including any entity or enterprise owned or controlled by a government,
 a judicial body or a public international organization, a body that exercises regulatory
 authority over any of the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators,
 the Joint Bookrunners, the Joint Lead Managers or Underwriters, or an entity with an aggregate
 25% or more government ownership or control by any one of the foregoing parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 None of the Group Relevant Persons or the
 respective directors, supervisors (if any), officers, agents, employees or affiliates or
 any other person acting for or on behalf of the foregoing is aware of or has, directly or
 indirectly, received or authorised the receipt of the payment of any money or the gift of
 anything of value from any supplier of raw materials, equipment or services, where either
 the payment or the gift was, is, or would be (A) for the purpose of inducing the Company
 or the Subsidiaries to procure or increase the procurement of raw materials, equipment or
 services; or (B) prohibited under any applicable Law of the Cayman Islands, the United
 States, Hong Kong, the PRC or any other jurisdiction; and each of the Company and the Subsidiaries
 maintains and has implemented adequate internal controls and procedures to monitor and supervise
 the Group Relevant Persons that are designed to detect and prevent any such receipt of payment
 or gift of anything of value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4 The operations and conducts (as applicable)
 of the Company and the Subsidiaries are, and at all times have been, conducted in compliance
 with applicable financial recordkeeping and reporting requirements, including but not limited
 to those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
 America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
 2001 (USA PATRIOT Act), the United States Currency and Foreign Transactions Reporting Act
 of 1970, as amended, any other United States anti-money laundering laws, and any applicable
 Laws relating to money laundering in all jurisdictions where the Company and each Subsidiaries
 conduct business, the rules and regulations thereunder and any related or similar rules,
 regulations or guidelines, issued, administered or enforced by any governmental or regulatory
 agency (collectively, the "**Anti-Money Laundering Laws** "), and each of the
 Company and the Subsidiaries has instituted and maintains policies and procedures which are
 designed to ensure continued compliance with the Anti-Money Laundering Laws and with the
 representation and warranty contained herein. No action, suit, proceeding, investigation
 or inquiry by or before any Authority involving any of the Company or the Subsidiaries or
 their respective businesses with respect to Anti-Money Laundering Laws is pending or, to
 the best knowledge of the Company, threatened. The Company and the Subsidiaries will not
 directly or indirectly use the proceeds of the Global Offering, or lend, contribute or otherwise
 make available such proceeds to any subsidiary, affiliate, joint venture partner or other
 person or entity for the purpose of financing or facilitating any activity that would violate
 the Anti-Money Laundering Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5 Neither the Company nor any of its Subsidiaries
 (A) currently engages, or has plans to engage, directly or indirectly, in a "covered
 activity" referred to in the definition of "prohibited transaction" in
 31 C.F.R. § 850.224; or (B) directly or indirectly, holds a board seat or a voting
 or equity interest in, or any contractual power to direct or cause the direction of the management
 policies of one or more persons or entities engaged or that has plans to engage in such activities
 referred to in (A) above and (i) from which the Company derives more than 50%
 of its revenue or net income individually, or as aggregated across such persons or entities
 from each of which the Company derives at least $50,000 (or equivalent) of its revenue or
 net income, on an annual basis, or (ii) for which the Company incurs more than 50%
 of its capital expenditure or operating expenses individually, or as aggregated across such
 persons or entities for each of which the Company incurs at least $50,000 (or equivalent)
 of its capital expenditure or operating expenses, on an annual basis.

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|:---|:---|
| **17** | **Experts** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 Each of the experts named in the section
 headed "Appendix IV—Statutory and General Information—Other Information—Qualification
 of Experts" and "Experts" of the Hong Kong Public Offering Documents and
 the Preliminary Prospectus is independent of the Company (as determined by reference to Rule 3A.07
 of the Listing Rules) and is able to form and report on its views free from any conflict
 of interest and has granted its consent to including its report, opinions, letters or certificates
 (as the case may be) in the Hong Kong Public Offering Documents and the Preliminary Prospectus
 and has not withdrawn its consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2 (A) The factual contents of the reports,
 opinions, letters or certificates of the Reporting Accountants, the Internal Control Consultant,
 the Industry Consultant, and any other consultants and any counsel for the Company, respectively,
 are and will remain complete, true and accurate in all material respects (and where such
 information is subsequently amended, updated or replaced, such amended, updated or replaced
 information is complete, true and accurate in all material respects) and no fact or matter
 has been omitted therefrom which would make the contents of any of such reports, opinions,
 letters or certificates misleading, and the opinions attributed to the Directors in such
 reports, opinions, letters or certificates are held in good faith based upon facts within
 the best of their knowledge after due and careful inquiry, and none of the Company and the
 Directors disagree with any aspect of such opinions, reports, letters or certificates; and
 (B) no information was withheld from the Reporting Accountants, the Internal Control
 Consultant, the Industry Consultant, any counsel for the Company or the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs or the Underwriters, any other consultants or professional
 advisers, as applicable, for the purposes of their respective preparation of any report,
 opinion, letter or certificate (whether or not contained in each of the Hong Kong Public
 Offering Documents and the Preliminary Prospectus) in connection with the Global Offering
 and the listing of the Shares on the Stock Exchange, and all information given to each of
 the foregoing persons for such purposes was given in good faith and there is no other information
 or documents which have not been provided the result of which would make the information
 or documents so received misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3 (A) The assumptions made by the Reporting
 Accountants, the Internal Control Consultant, the Industry Consultant and any other consultants
 and any counsel for the Company in their respective reports, opinions, letters or certificates
 (the "**Relevant Reports**") are considered by the Warrantors to be reasonable
 and appropriate; (B) the market positioning of the Company contained in the Industry
 Consultant Report are considered by the Warrantors to be accurately represented, reasonable
 and not misleading; (C) no facts have come to the attention of the Warrantors or any
 of their respective directors, supervisors or officers that have caused them to believe that
 the Relevant Reports, as of their respective dates and as of the date hereof, contained or
 contains any untrue statement of a material fact or omitted or omits to state a material
 fact or assumption necessary in order to make the statements therein, in the light of the
 circumstances under which they were made, not misleading; and (D) the report prepared
 by the Industry Consultant was prepared at the Company's request based on a contractual
 arrangement which the Company negotiated on an arms' length basis.

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| | |
|:---|:---|
| **18** | **Provision of Information** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 The Warrantors, their respective agents
 and representatives (other than the Hong Kong Underwriters in their capacity as such) (A) have
 not, without the prior written consent of the Overall Coordinators and the Joint Global Coordinators
 prepared, made, used, authorized, approved or referred to any Supplemental Offering Material;
 and (B) will not, without the prior written consent of the Overall Coordinators and
 the Joint Global Coordinators, prepare, make, use, authorize, approve or refer to any Supplemental
 Offering Material. The Warrantors have not distributed and, prior to the later of the First
 Time of Delivery or any Additional Time of Delivery and the completion of the distribution
 of the Offer Shares will not distribute any offering material in connection with the Global
 Offering and sale of the Offer Shares other than the Hong Kong Prospectus, the Preliminary
 Prospectus, the Final Prospectus, any free writing prospectuses, if any, identified in Schedule
 II of the International Underwriting Agreement and any Written Testing-the-Waters Communications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2 None of the Warrantors, the Subsidiaries,
 or any of their respective directors, officers, employees, affiliates, advisors or agents,
 has (whether directly or indirectly, formally or informally, in writing or verbally) provided
 to any research analyst any material information, including forward looking information (whether
 qualitative or quantitative) concerning the Company or any Subsidiary that is not, or is
 not reasonably expected to be, included in each of the Hong Kong Prospectus, Registration
 Statement, the Time of Sale Prospectus and the Final Prospectus or publicly available.

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| | |
|:---|:---|
| **19** | **Material Contracts and Connected Transactions** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1 (A) All material contracts to which
 the Company or any Subsidiary is a party that are required to be disclosed in the Hong Kong
 Public Offering Documents and the Preliminary Prospectus or filed therewith or with the Registrar
 of Companies in Hong Kong (collectively, the "**Material Contracts**") have
 been so disclosed or filed pursuant to the applicable disclosure or filing requirements;
 none of the Material Contracts will, without the written consent of the Joint Sponsors, the
 Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the CMIs, the Joint
 Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters, be entered into or terminated,
 nor will the terms of any Material Contracts be changed, prior to or on the Listing Date;
 and none of the Company, the Subsidiaries nor any other party to a Material Contract has
 sent or received any communication regarding termination of, or intention not to renew, such
 Material Contract, and no such termination or non-renewal has been threatened by the Company,
 any Subsidiary or, to the best of the Company's knowledge, any other party to such
 Material Contract; (B) neither the Company nor any Subsidiary has been informed by
 any counterparties to its Material Contracts that the Company or such Subsidiary is in breach
 of any terms thereof; (C) each of the contracts listed as being material contracts
 in the section of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 headed "Appendix IV—Statutory and General Information—Further Information
 About Our Business—Summary of Material Contract" or filed as an exhibit to the
 Registration Statement has been duly authorised, executed and delivered and is legal, valid,
 binding and enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2 Except as disclosed in the Hong Kong Public
 Offering Documents and the Preliminary Prospectus, none of the Company or any of the Subsidiaries
 has any capital commitment, or is, or has been, party to any unusual, long-term or onerous
 commitments, contracts or arrangements not wholly on an arm's length basis in the ordinary
 and usual course of business (for these purposes, a long term contract, commitment, or arrangement
 is one which is unlikely to have been fully performed in accordance with its terms within
 six months after the date it was entered into or undertaken or is incapable of termination
 by either the Company or any of the Subsidiaries (as applicable) on six months' notice
 or less).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3 The Company does not have any reason to
 believe that any material supplier, distributor or customer of the Company or any of the
 Subsidiaries is considering ceasing to deal with the Company and/or any of the Subsidiaries
 (as applicable) or reducing the extent or value of its dealings with the Company or the relevant
 Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.4 None of the Company or any of the Subsidiaries
 is a party to any agreement or arrangement which prevents or restricts it in any way from
 carrying on business in any jurisdiction, except where such agreement or arrangement would
 not, individually or in the aggregate, result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.5 None of the Company and the Subsidiaries
 is engaged in any trading activities involving commodity contracts or other trading contracts
 which are not currently traded on a securities or commodities exchange and for which the
 market value cannot be determined.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.6 None of the Company, the Subsidiaries or
 to the best of the Company's knowledge, their respective affiliates is a party to any
 agreement, arrangement or concerted practice or is carrying on any practice that in whole
 or in part contravenes or is invalidated by any anti-trust, anti-monopoly, competition, fair
 trading, consumer protection or similar Laws in any jurisdiction where the Company or any
 Subsidiary has property or assets or carries on business or in respect of which any Governmental
 Authorization is required or is advisable pursuant to such Laws (whether or not the same
 has in fact been made).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.7 There will be no connected transactions
 (as defined under the Listing Rules) between the Company or any of the Subsidiaries and a
 connected person (as defined under the Listing Rules) subsisting immediately upon completion
 of the Global Offering, except as disclosed in the Hong Kong Public Offering Documents and
 the Preliminary Prospectus, and there are no relationships or transactions not in the ordinary
 course of business between the Company or any of the Subsidiaries and their respective customers,
 suppliers or business partners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.8 In respect of the connected transactions
 (as defined in the Listing Rules and in accordance with the guidance from the Stock
 Exchange) of the Group (the "**Connected Transactions**") disclosed in each
 of the Hong Kong Public Offering Documents and the Preliminary Prospectus, (A) the
 statements set forth in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus relating to such transactions are complete, true and accurate in all material
 respects, and there are no other facts or matters the omission of which would make any such
 statements, in light of the circumstances under which they were made, misleading, and there
 are no other Connected Transactions which are required by Chapter 14A of the Listing Rules to
 be disclosed in the Hong Kong Prospectus but have not been disclosed as such; (B) the
 Connected Transactions disclosed in each of the Hong Kong Public Offering Documents and the
 Preliminary Prospectus have been entered into and carried out, and will be carried out, in
 the ordinary course of business and on normal commercial terms and are fair and reasonable
 and in the interests of the Company and the shareholders of the Company as a whole, and the
 Directors, including, without limitation, the independent non-executive Directors, in coming
 to their view have made due and proper inquiries and investigations of such Connected Transactions;
 (C) the Company has complied with and will continue to comply with the terms of such
 Connected Transactions disclosed in each of the Hong Kong Public Offering Documents and the
 Preliminary Prospectus so long as the agreement or arrangement relating thereto is in effect;
 (D) each of such Connected Transactions and related agreements and undertakings as
 disclosed in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 has been duly authorized, executed and delivered, constitutes a legal, valid and binding
 agreement or undertaking of the parties thereto, enforceable in accordance with its terms,
 and is in full force and effect; and (E) each of such Connected Transactions disclosed
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus has been
 and will be carried out by the Group in compliance with all applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.9 No indebtedness (actual or contingent) and
 no contract or arrangement is outstanding between the Company or any of the Subsidiaries,
 on the one hand, and any substantial shareholder or any current or former director, supervisor
 (if any) or officer of the Company or the Subsidiaries or any of their respective spouses,
 children or other relatives or any corporate, trust or entity in which any of them has a
 controlling interest, on the other hand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.10 None of the Single Largest Group of Shareholders,
 the directors, supervisors (if any) or officers of the Company or any of the Subsidiaries,
 or any of their respective associates (as the term is defined in the Listing Rules), either
 alone or in conjunction with or on behalf of any other person, (A) is interested in
 any business that is similar to or competes or is likely to compete, directly or indirectly,
 with the business of the Company or any Subsidiary; (B) is interested, directly or
 indirectly, in any assets which have since the date two years immediately preceding the date
 of the Hong Kong Prospectus been acquired or disposed of by or leased to the Company or any
 Subsidiary; or (C) is or will be interested in any agreement or arrangement with the
 Company or any Subsidiary which is subsisting and which is material in relation to the business
 of the Company or such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.11 None of the Directors has revoked or withdrawn
 the authority and confirmations in the responsibility letter, statement of interests and
 power of attorney, Director's certificate, personal details form for directors and
 confirmation letter, in each case to the extent applicable, issued by her/him to the Company
 and the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators and/or the Joint Global
 Coordinators, and such authority and confirmations remain in full force and effect.

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| | |
|:---|:---|
| **20** | **Historical Changes** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1 The descriptions of the events, transactions
 and documents (the "**Historical Changes Documents**") relating to the transfers
 and changes in the share capital of the Company (the "**Historical Changes** ")
 and the corporate structure charts as set forth in the sections of each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus headed "History, Development
 and Corporate Structure", "Appendix IV—Statutory and General Information",
 "Prospectus Summary", "Corporate History and Structure" and "Description
 of Share Capital" and "Information of the Company" are complete, true and
 accurate in all material respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2 [ *Reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.3 The events and transactions relating to
 the Historical Changes and the execution, delivery and performance of the Historical Changes
 Documents did not conflict with, or result in a breach or violation of, or constitute a default
 under (or constitute any event which, with notice or lapse of time or fulfilment of any condition
 or compliance with any formality or all of the foregoing, would result in a breach or violation
 of, constitute a default under or give the holder of any indebtedness (or a person acting
 on such holder's behalf) the right to require the repurchase, redemption or repayment
 of all or part of such indebtedness under) (A) the memorandum articles of association
 or other constituent or constitutive documents or the business license (as applicable) of
 the Company or any of the Subsidiaries; (B) any indenture, mortgage, deed of trust,
 loan or credit agreement or other evidence of indebtedness, or any licence, authorization,
 lease, contract or other agreement or instrument to which the Company or any of the Subsidiaries
 is a party or by which the Company or any of the Subsidiaries is bound or any of their respective
 properties or assets may be bound or affected; (C) any Laws applicable to the Company
 or any of the Subsidiaries or any of their respective properties or assets; or (D) any
 judgment, order or decree of, or any undertaking made to, any Authority having jurisdiction
 over the Company and/or the Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.4 Neither the events and transactions relating
 to the Historical Changes nor the execution, delivery and performance of any of the Historical
 Changes Documents (A) resulted in the creation or imposition of any pledge, charge,
 lien, mortgage, security interest, claim, pre-emption rights, equity interest, third party
 rights or interests or rights similar to the foregoing upon any property or assets of the
 Company or any of the Subsidiaries; or (B) has rendered the Company or any of the Subsidiaries
 liable to any additional Tax, duty, charge, impost or levy of any amount which has not been
 provided for in the accounts upon which the Accountant's Report was prepared by the
 Reporting Accountants or otherwise described in the Hong Kong Public Offering Documents and
 the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.5 All Governmental Authorizations required
 or advisable in connection with the events and transactions relating to the Historical Changes
 and the execution, delivery and performance of the Historical Changes Documents have been
 unconditionally obtained or made; all such Governmental Authorizations are valid and in full
 force and effect and none of such Governmental Authorizations is subject to any condition
 precedent which has not been satisfied or performed or other materially burdensome restrictions
 or conditions not described in each of the Hong Kong Public Offering Documents and the Preliminary
 Prospectus; each of the Governmental Authorizations granted by the relevant Authority to
 the Company or any of the Subsidiaries prior to the reorganization and necessary for the
 operation of the Company and the Subsidiaries has been validly and legally transferred, renewed,
 maintained or assumed following the reorganization; and neither the Company nor any of the
 Subsidiaries is in violation of, or in default under, or has received notice of any action,
 suit, proceeding, investigation or inquiry relating to revocation, suspension or modification
 of, or has any reason to believe that any Authority is considering revoking, suspending or
 modifying, any such Governmental Authorizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.6 Transactions contemplated by the Historical
 Changes have been effected prior to the date hereof in compliance with all applicable Laws
 and in accordance with the Historical Changes Documents; other than the Historical Changes
 Documents, there are no other documents or agreements, written or oral, relating to the Company,
 any of the Subsidiaries and/or the Single Largest Group of Shareholders (where applicable)
 in connection with the events and transactions relating to the Historical Changes which have
 not been previously provided, or made available, to the Joint Sponsors, the Sponsor-OCs,
 the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
 Lead Managers, the CMIs, the Underwriters and/or the legal and other professional advisers
 to the Underwriters and which have not been disclosed in each of the Hong Kong Public Offering
 Documents and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.7 [ *Reserved* ]

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| | |
|:---|:---|
| **21** | **Pre-IPO Investments** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1 The descriptions of the events, transactions
 and documents relating to the pre-IPO investments as set forth in the section of each of
 the Hong Kong Public Offering Documents and the Preliminary Prospectus headed "History,
 Development and Corporate Structure" and "Description of Share Capital"
 (the "**Pre-IPO Investments**") are complete, true and accurate in all material
 respects and not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2 (A) All Governmental Authorizations
 required in connection with the Pre-IPO Investments have been unconditionally obtained or
 made; (B) all such Governmental Authorizations are valid and in full force and effect,
 and none of such Governmental Authorizations is subject to any condition precedent which
 has not been satisfied or performed or other materially burdensome restrictions or conditions
 not described in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus;
 and (C) neither the Company nor any of the Subsidiaries is in violation of, or in default
 under, or has received notice of any action, suit, proceeding, investigation or inquiry relating
 to revocation, suspension or modification of, or has any reason to believe that any Authority
 is considering revoking, suspending or modifying, any such Governmental Authorizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.3 The Pre-IPO Investments are in compliance
 with Chapter 4.2 of the Guide.

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| | |
|:---|:---|
| **22** | **Taxation** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.1 All returns, reports and filings (including
 elections, declarations, forms, disclosures, schedules, estimates and information returns,
 together with any attachments required to be included) which are required to have been filed
 by or in respect of the Company or the Subsidiaries for Taxation purposes have been filed,
 except where the failure to file would not, individually or in the aggregate, have a Material
 Adverse Effect; and all such returns, reports and filings are complete, true and accurate
 and are not the subject of any dispute with the relevant Tax or other appropriate authorities;
 all Taxes required to be paid by each of the Company and the Subsidiaries have been paid
 in full whether or not shown on any Tax return (and all amounts required to be withheld from
 amounts owing to any employee, creditor, or third party have been withheld in full), except
 for cases in which the failure to pay would not, individually or in the aggregate, have a
 Material Adverse Effect; the provisions included in the audited consolidated financial statements
 as set out in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 included appropriate and adequate provisions required under IFRS for all Taxation in respect
 of accounting periods ended on or before the accounting reference date to which such audited
 consolidated financial statements relate and for which the Company or any Subsidiary was
 then or might reasonably be expected thereafter to become or have become liable; none of
 the Company and the Subsidiaries has received written notice of any Tax audit or examination,
 or any Tax assessment or deficiency that has been asserted against the Company or any Subsidiary
 (nor does any of the Company or any of the Subsidiaries have any notice or knowledge of any
 Tax assessment or deficiency which could reasonably be expected to be determined adversely
 to the Company or its Subsidiaries) that could reasonably be expected to have, individually
 or in the aggregate, a Material Adverse Effect; there are no liens for Taxes on the assets
 of the Company or the Subsidiaries other than liens for Taxes (A) not yet due and payable;
 or (B) being diligently contested in good faith by appropriate proceedings and for
 which adequate reserves have been established on the books and records of the Company and
 the Subsidiaries in accordance with IFRS and properly reflected on the audited consolidated
 financial statements (and any notes thereto). The Company is not a PRC resident enterprise
 for PRC tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2 All local and national governmental Tax
 waivers and other local and national PRC or other Tax relief, concession and preferential
 treatment granted to the Company or the Subsidiaries are valid, binding and enforceable and
 do not violate any provision of any Law or statute or any order, rule or regulation
 of any Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3 No stamp, documentary, issuance, registration,
 transfer, capital gains, income, withholding, value added or other Taxes or duties are payable
 by or on behalf of the Company, any Subsidiary or any Underwriters (including any parties
 that would receive, sell or deliver the Offer Shares or cash payments therefor) in the Cayman
 Islands, Hong Kong, the PRC, the United States, or any political subdivision or any taxing
 or other Authority thereof or therein in connection with (A) the creation, allotment
 and issuance of the Offer Shares; (B) the sale and delivery by the Company of the Offer
 Shares to or for the respective accounts of the International Underwriters and the Hong Kong
 Underwriters, as the case may be, in the manner contemplated in this Agreement and in the
 International Underwriting Agreement, (C) the execution, delivery or consummation of
 this Agreement and the International Underwriting Agreement, (D) the offer, sale and
 delivery within and outside Hong Kong by the International Underwriters or within Hong Kong
 by the Hong Kong Underwriters of the Offer Shares to the initial placees thereof in the manner
 contemplated in the Hong Kong Public Offering Documents and the Preliminary Prospectus, or
 (E) the deposit of the Offer Shares with the Hong Kong Securities Clearing Company
 Limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4 Neither the Company nor any of the Subsidiaries
 has been or is currently the subject of an inquiry into transfer pricing by any Taxation
 or other Authority and no Taxation Authority has indicated any intention to commence any
 such inquiry and there are no circumstances likely to give rise to any such inquiry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.5 Under existing Hong Kong Laws, holders of
 the Offer Shares are not subject to withholding Tax, income Tax or any other Taxes or duties
 imposed by any court or Authority of Hong Kong in respect of (i) any payments, dividends
 or other distributions made on the Offer Shares or (ii) gains made on sales of the
 Offer Shares between non-residents of Hong Kong consummated outside Hong Kong.

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| | |
|:---|:---|
| **23** | **Dividends** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1 Except as described in each of the Hong
 Kong Public Offering Documents and the Preliminary Prospectus, (A) none of the Company
 nor any of its Subsidiaries is prohibited, directly or indirectly, from paying any dividends,
 from making any other distribution on its shares, capital stock or other equity interests,
 from making or repaying any loans or advances to the Company or any other Subsidiary, or
 from transferring any of the properties or assets to the Company or to any other Subsidiary;
 and (B) such dividends and other distributions, (i) may be converted into foreign
 currency that may be freely transferred out of such entity's jurisdiction of incorporation,
 without the consent, approval, authorization or order of, or qualification with, any Authority
 in such entity's jurisdiction of incorporation or tax residence, provided however,
 that (1) such distribution has been duly approved by the shareholders and/or board
 meeting of the Company or any of its other Subsidiaries pursuant to its constitutional documents,
 (2) in case of the dividends declared and payable on the equity interest in a Subsidiary
 of the Company that is a foreign invested enterprise in China, such Subsidiary has duly obtained,
 and maintain effective, its foreign exchange registration, (3) the allocations to statutory
 reserves by the Company or any of its other Subsidiaries have been duly made, and (4) the
 remittance of such dividends outside of the PRC complies with the procedures required under
 PRC laws relating to foreign exchange, and (ii) except for those already described
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus, are not
 and will not be subject to, and may be paid free and clear of and without deduction for or
 on account of, any withholding, value added or other Taxes under the currently effective
 laws and regulations of such entity's jurisdiction of incorporation or tax residence,
 and may be so paid without the necessity of obtaining any Governmental Authorization having
 jurisdiction over the Company, any of the Subsidiaries or any of their respective properties,
 assets or operations.

---

| | |
|:---|:---|
| **24** | **Litigation and Other Proceedings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1 There are (A) (i) no legal,
 arbitral or governmental actions, proceedings, investigations or inquires pending or to the
 best of the Warrantors' knowledge, threatened or contemplated by or before any Authority,
 to which the Company or any of the Subsidiaries, or any of their respective directors, supervisors
 (if any), officers, employees or affiliates, is or may be a party or to which any properties,
 assets, products or services of the Company or any Subsidiary, or any of their respective
 directors, supervisors (if any) or officers, is or may be subject (including but not limited
 to those challenging the effectiveness, validity or compliance with Laws of the events, transactions
 and documents relating to Historical Changes), (ii) no Laws that have been enacted,
 adopted or issued or proposed by any Authority, and (iii) no judgments, decrees, orders,
 proceedings, investigations or inquiries of any Authority, which, in any of clause (i), (ii) or
 (iii), would or could reasonably be expected to, individually or in the aggregate, have a
 Material Adverse Effect, or adversely affect the power or ability of any of the Warrantors
 to perform its/his obligations under this Hong Kong Underwriting Agreement, the International
 Underwriting Agreement and the Operative Documents, to offer, sell and deliver the Offer
 Shares or to consummate the transactions contemplated by this Agreement, the International
 Underwriting Agreement and the Operative Documents or otherwise adversely affect the Global
 Offering, or which are required to be described in the Hong Kong Public Offering Documents
 and the Preliminary Prospectus and are not so described; and (B) none of the Company
 or any of the Subsidiaries which is a party to a joint venture or shareholders' agreement
 is in dispute with the other parties to such joint venture or shareholders' agreement
 and there are no circumstances which may give rise to any dispute or affect the relevant
 member's relationship with such other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2 None of the Warrantors and the Subsidiaries
 has taken any action nor have any steps been taken or legal, legislative or administrative
 proceedings been started, threatened or contemplated or judgment been rendered (A) to
 wind up, make bankrupt, dissolve, deregister, liquidate, make dormant, or eliminate the Company
 or any Subsidiary; or (B) to withdraw, revoke or cancel any approval to conduct business
 or any operation of the Company or any Subsidiary.

---

| | |
|:---|:---|
| **25** | **Market Conduct** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.1 Save for the appointment of the Stabilizing
 Manager, none of the Warrantors or the Subsidiaries, or their affiliates, or any of their
 respective directors, supervisors (if any), officers, and to the best of the Warrantors'
 knowledge, agents or employees, or any person acting on behalf of any of them (other than
 the Overall Coordinators, the Joint Global Coordinators and the Underwriters as to whom the
 Warrantors make no representation or warranty), has at any time prior to the date hereof,
 directly or indirectly, done any act or engaged in any course of conduct or will, until the
 Overall Coordinators have notified the Company of the completion of the distribution of the
 Offer Shares, do directly or indirectly any act or engage in any course of conduct: (A) which
 creates a false or misleading impression as to the market in or the value of the Shares and
 any associated securities; (B) the purpose of which is to create actual, or apparent,
 active trading in or to raise the price of the Shares; or (C) which constitutes non-compliance
 with the rules, regulations and requirements of the CSRC, the Stock Exchange, the SEC or
 any other Authority including those in relation to bookbuilding and placing activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.2 Except for the stock borrowing arrangement
 as disclosed in the Hong Kong Public Offering Documents and the Preliminary Prospectus, none
 of the Warrantors or the Subsidiaries, or their affiliates, or any of their respective directors,
 supervisors (if any), officers, agents or employees, or any person acting on behalf of any
 of them (other than the Overall Coordinators, the Joint Global Coordinators and the Underwriters
 as to whom the Warrantors make no representation or warranty) (A) has taken or facilitated
 or will take or facilitate, directly or indirectly, any action which is designed to or which
 has constituted or which might reasonably be expected to cause or result in stabilization
 or manipulation of the price of any security of the Company to facilitate the sale or resale
 of any security of the Company or any Subsidiary or otherwise; (B) has taken or will
 take, directly or indirectly, any action which would constitute a violation of the Securities
 and Futures (Price Stabilizing) Rules under the Securities and Futures Ordinance, the
 market misconduct provisions of Parts XIII and XIV of the SFO, or the rules, regulations
 and requirements of the CSRC, or would constitute a violation of the market misconduct provisions
 of Parts XIII and XIV of the SFO; (C) has taken or will take or has omitted to take
 or will omit to take, directly or indirectly, any action which may result in the loss by
 any of the Underwriters or any person acting for them of the ability to rely on any stabilization
 safe harbor provided by the Securities and Futures (Price Stabilizing) Rules under
 the SFO or otherwise; (D) either alone or with one or more other persons, bid for or
 purchased, for any account in which it or any of its affiliates had a beneficial interest,
 any Offer Shares or attempted to induce any person to purchase any Offer Shares, provided
 that the granting of the Over-allotment Option or other stabilization action taken by the
 Stabilizing Manager or any person acting for it as stabilizing manager in accordance with
 Clause 6.1 of the Hong Kong Underwriting Agreement, Clause 1(d) of the International
 Underwriting Agreement, the Listing Rules, the SFO or any other applicable Laws in Hong Kong
 shall not constitute a breach of this subsection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.3 None of the Warrantors or any of the Subsidiaries,
 nor any of their respective directors, officers, supervisors (if any), employees or agents
 has, directly or indirectly, provided or offered (nor will, directly or indirectly, provide
 or offer) any rebates or preferential treatment to an investor in connection with the offer
 and sale of the Offer Shares or the consummation of the transactions contemplated hereby
 or by the Hong Kong Public Offering Documents and the Preliminary Prospectus. None of the
 Company or any of the Subsidiaries nor any of their respective directors, officers, agents
 or employees is aware of any arrangement which would result in an investor paying directly
 or indirectly, for the Offer Shares allocated, less than the total consideration as disclosed
 in the Hong Kong Public Offering Documents and the Preliminary Prospectus.

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| | |
|:---|:---|
| **26** | **Immunity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1 Under the Laws of the Cayman Islands, the
 PRC, Hong Kong and the United States, none of the Company, the Subsidiaries, nor any of their
 respective properties, assets or revenues, is entitled to any right of immunity on the grounds
 of sovereignty or crown status or otherwise from any action, suit or proceeding, from set-off
 or counterclaim, from the jurisdiction of any court or arbitral tribunal, from service of
 process, from attachment to or in aid of execution of a judgment, arbitral award or from
 other action, suit or proceeding for the giving of any relief or for the enforcement of any
 judgment or arbitral award; and the irrevocable and unconditional waiver and agreement of
 the Company in Clause 18.7 hereof not to plead or claim any such immunity in any action,
 suit or proceeding arising out of or based on this Agreement or the International Underwriting
 Agreement or the transactions contemplated hereby and thereby is legal, valid and binding
 under the Laws of the Cayman Islands, Hong Kong, the PRC and the United States.

---

| | |
|:---|:---|
| **27** | **Choice of Law and Dispute Resolution** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.1 [ *Reserved* ]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.2 The choice of law provisions set forth in
 this Agreement will be recognized by the courts of the Cayman Islands, the British Virgin
 Islands, Hong Kong, the PRC and the United States; the Company can sue and be sued in its
 own name under the Laws of the Cayman Islands, the British Virgin Islands, Hong Kong, the
 PRC and the United States; the agreement by the Company to resolve any dispute by arbitration
 at the Hong Kong International Arbitration Centre, the agreement to treat any decision and
 award of the Hong Kong International Arbitration Centre as final and binding on the parties
 to this Agreement, the irrevocable submission by the Company to the jurisdiction of the arbitral
 tribunal appointed or constituted for any arbitration commenced under Clause 18 of this Agreement
 and of any court of competent jurisdiction in which proceedings may be brought pursuant to
 Clause 18 of this Agreement, the waiver by the Company of any objection to the venue of an
 action, suit or proceeding in any such court, the waiver and agreement not to plead an inconvenient
 forum and the agreement that this Agreement shall be governed by and construed in accordance
 with the Laws of Hong Kong, are legal, valid and binding under the Laws of the Cayman Islands,
 the British Virgin Islands, Hong Kong, the PRC and the United States and will be respected
 by the courts of the Cayman Islands, the British Virgin Islands, Hong Kong, the PRC and the
 United States; service of process effected in the manner set forth in this Agreement will
 be effective, insofar as the Laws of the Cayman Islands, the British Virgin Islands, Hong
 Kong, the PRC and the United States is concerned, to confer valid personal jurisdiction over
 the Company; and any judgment obtained in the Hong Kong International Arbitration Centre
 arising out of or in relation to the obligations of the Company under this Agreement will
 be recognized and enforced in the courts of the Cayman Islands, the British Virgin Islands,
 Hong Kong, the PRC and the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.3 It is not necessary under the Laws of the
 Cayman Islands, Hong Kong, the PRC and the United States that any of the International Underwriters
 or the Hong Kong Underwriters (other than those incorporated or organized under the Laws
 of the Cayman Islands, Hong Kong, the PRC and the United States as the case may be) should
 be licensed, qualified or entitled to carry out business in Laws of the Cayman Islands, Hong
 Kong, the PRC and the United States (A) to enable them to enforce their respective
 rights under this Agreement, the International Underwriting Agreement or any other document
 to be furnished hereunder or thereunder; or (B) solely by reason of the execution,
 delivery or performance of this Agreement and the International Underwriting Agreement.

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| | |
|:---|:---|
| **28** | **Professional Investor** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.1 The Warrantors have read and understood
 the Professional Investor Treatment Notice set forth in Schedule 6 of this Agreement hereto
 and acknowledges and agrees to the representations, waivers and consents contained in such
 notice, in which the expressions "you" or "your" shall mean the Warrantors,
 and "we" or "us" or "our" shall mean the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the Underwriters.

---

| | |
|:---|:---|
| **29** | **No Other Arrangements Relating to Sale of Offer Shares; No Other Offerings** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.1 There are no contracts, agreements or understandings
 between the Warrantors or any Subsidiary and any person or entity (other than the Hong Kong
 Underwriters pursuant to this Hong Kong Underwriting Agreement and the International Underwriters
 pursuant to the International Underwriting Agreement) that would give rise to any claim against
 the Company, any Subsidiary or any Underwriter for brokerage commissions, finder's
 fees or other payments in connection with the offer and sale of the Offer Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.2 Neither the Company nor any Subsidiary has
 entered into any contractual arrangement relating to the offer, sale, distribution or delivery
 of any Shares other than this Agreement, the International Underwriting Agreement and the
 Operative Documents. There are no contracts, agreements or understandings entered into by
 the Company or the Subsidiaries or any Single Largest Group of Shareholders in relation to
 the appointment of other capital market intermediaries or fee arrangement arising thereof,
 other than the arrangements already disclosed to the Joint Sponsors, the Joint Global Coordinators
 and the Overall Coordinators.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.3 Except as described in the Hong Kong Public
 Offering Documents and the Preliminary Prospectus, the Company has not sold, issued or distributed
 any securities during the six-month period preceding the date hereof, including any sales
 pursuant to Rule 144A, Regulation D or Regulation S promulgated under the Securities
 Act, other than shares issued pursuant to employee benefit plans, qualified share option
 plans or other employee compensation plans or pursuant to outstanding options, rights or
 warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.4 Except as disclosed in each of the Hong
 Kong Public Offering Documents and the Preliminary Prospectus, there are no contracts, agreements
 or understandings between the Company and any person granting such person the right to require
 the Company to file a registration statement under the Securities Act with respect to any
 securities of the Company or to require the Company to include such securities with the securities
 registered pursuant to the Registration Statement.

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| | |
|:---|:---|
| **30** | **United States Securities Laws and Related Matters** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.1 The Registration Statement, Preliminary
 Prospectus, Final Prospectus and any free writing prospectus and the filing of the Registration
 Statement, Preliminary Prospectus, Final Prospectus and any Free Writing Prospectus with
 the SEC will be or have been duly authorized by and on behalf of the Company, and the Registration
 Statement will be or have been duly executed pursuant to such authorization by and on behalf
 of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.2 The Company is not an "ineligible
 issuer" in connection with the offering of the Offer Shares pursuant to Rules 164,
 405 and 433 under the Securities Act. Any free writing prospectus that the Company is required
 to file pursuant to Rule 433(d) under the Securities Act has been, or will be,
 filed with the SEC in accordance with the requirements of the Securities Act and the applicable
 rules and regulations of the SEC thereunder. Each free writing prospectus that the
 Company has filed, or is required to file, pursuant to Rule 433(d) under the
 Securities Act or that was prepared by or on behalf of or used or referred to by the Company
 complies or will comply in all material respects with the requirements of the Securities
 Act and the applicable rules and regulations of the SEC thereunder. Any such free writing
 prospectus, as of its issue date and at all subsequent times through the completion of the
 sale of the Offer Shares, did not, does not and will not include any information that conflicted,
 conflicts or will conflict with the information then contained in the Registration Statement,
 the Time of Sale Prospectus or any preliminary or other prospectus deemed to part thereof
 that has not been superseded or modified. Except for the free writing prospectuses, if any,
 and electronic road shows, if any, each furnished to the Representatives before first use,
 the Company has not prepared, used or referred to, and will not, without the Overall Coordinators'
 prior written consent, prepare, use or refer to, any free writing prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.3 The Company will be a "well-known
 seasoned issuer" as defined in Rule 405 under the Securities Act at the times
 specified in the Securities Act in connection with the offering of the Offer Shares from
 November 1, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.4 The Company (i) has not alone engaged
 in any Testing-the-Waters Communication other than Testing-the-Waters Communications with
 the consent of the Overall Coordinators with entities that are qualified institutional buyers
 within the meaning of Rule 144A under the Securities Act or institutions that are accredited
 investors within the meaning of Rule 501 under the Securities Act and (ii) has
 not authorized anyone other than the Overall Coordinators to engage in Testing-the-Waters
 Communications. The Company reconfirms that the Overall Coordinators have been authorized
 to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not
 distributed any Written Testing-the-Waters Communication other than those agreed to by the
 Overall Coordinators. "**Written Testing-the-Waters Communication**" means
 any Testing-the-Waters Communication that is a written communication within the meaning of
 Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.5 The statements in the Registration Statement,
 the Preliminary Prospectus, the Time of Sale Prospectus and the Final Prospectus under the
 headings "Prospectus Summary," "Risk Factors," "Use of Proceeds",
 "Dividend Policy", "Enforceability of Civil Liabilities," "Corporate
 History and Structure," "Management's Discussion and Analysis of Financial
 Condition and Results of Operations," "Business," "Regulations,"
 "Management," "Related Party Transactions," "Description of
 Share Capital," "Description of American Depositary Shares," "Shares
 Eligible for Future Sale", "Taxation" and "Underwriting," insofar
 as such statements summarize legal matters, agreements, documents or proceedings discussed
 therein, are accurate, complete and fair summaries of such matters described therein in all
 material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.6 The Company is a "foreign private
 issuer" as defined in Rule 405 of the Securities Act and Rule 3b-4 under
 the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.7 The Company believes that it may have been
 a "passive foreign investment company" ("PFIC") for U.S. federal
 income tax purposes for its most recent taxable year. Based on the current and anticipated
 value of the Company's assets and the composition of its income and assets, including
 goodwill (taking into account the expected cash proceeds from, and the Company's anticipated
 market capitalization following, the Global Offering), the Company believes it is likely
 that it may be a PFIC for the current taxable year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.8 The Company is not and, after giving effect
 to the offering and sale of the Offer Shares and the application of the proceeds thereof
 as described in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus,
 will not be required to be registered as an "investment company" within the meaning
 of the U.S. Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.9 From the time of initial confidential submission
 of the Registration Statement to the SEC (or, if earlier, the first date on which the Company
 engaged directly or through any person authorized to act on its behalf in any Testing-the-Waters
 Communication undertaken through the date hereof), the Company has been and is an "emerging
 growth company," as defined in Section 2(a) of the Securities Act (an "**Emerging Growth Company** "). "Testing-the-Waters Communication" means any oral
 or written communication with potential investors undertaken in reliance on Section 5(d) of
 the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.10 There are no affiliations or associations
 between any member of FINRA and the Company; there are no affiliations or associations between
 (i) any member of FINRA and (ii) any of the Company's officers, directors
 or 5% or greater security holders or any beneficial owner of the Company's unregistered
 equity securities that were acquired at any time on or after the 180th day immediately preceding
 the date the Registration Statement was initially filed with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.11 The Company is subject to the reporting
 requirements of either Section 13 or Section 15(d) of the Exchange Act
 and timely files reports with the SEC on the Electronic Data Gathering, Analysis, and Retrieval
 (EDGAR) system.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.12 The Registration Statement has become effective;
 no stop order suspending the effectiveness of the Registration Statement is in effect, and
 no proceedings for such purpose or pursuant to Section 8A under the Securities Act
 are pending before or threatened by the SEC.

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| | |
|:---|:---|
| **31** | **Directors, Officers and Shareholders** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.1 Any certificate signed by any director or
 officer of the Warrantors (to the extent applicable) and delivered to the Joint Sponsors,
 the Sponsor-OCs, the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
 the Joint Lead Managers, the CMIs and the Underwriters or any counsel for the Underwriters
 in connection with the Global Offering shall be deemed to be a representation and warranty
 by the Company, as to matters covered thereby, to each Joint Sponsor, Sponsor-OC, Overall
 Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager, CMI and Underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.2 Any subscription or purchase of the Offer
 Shares by a Director or his/her associates or existing shareholder of the Company, if conducted,
 has been or will be in accordance with Rules 10.03 and 10.04 of the Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.3 All the interests or short positions of
 each of the Directors in the securities, underlying securities and debentures of the Company
 or any associated corporation (within the meaning of Part XV of the Securities and
 Futures Ordinance) which will be required to be notified to the Company and the Stock Exchange
 pursuant to Part XV of the Securities and Futures Ordinance, or which will be required
 pursuant to section 352 of the Securities and Futures Ordinance to be entered in the register
 referred to therein, or which will be required to be notified to the Company and the Stock
 Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers
 in the Listing Rules, in each case once the Shares are listed, are fully and accurately disclosed
 in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.4 The Directors have been duly and validly
 appointed and are the only directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.5 Each of the independent non-executive Directors
 is in compliance with the requirements on independence as imposed by the Listing Rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.6 [ *Reserved* ]

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| | |
|:---|:---|
| **32** | **Specialist Technologies and Specialist Technology Products** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.1 The Company meets the definition of a Specialist
 Technology Company (as defined under the Chapter 18C of the Listing Rules and Chapter
 2.5 of the Guide), and is both eligible and suitable for listing as a Commercial Company,
 meeting all the relevant requirements under the Chapter 18C of the Listing Rules and
 Chapter 2.5 of the Guide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.2 All Specialist Technologies (as defined
 under the Listing Rules) engaged in the Specialist Technology Products (as set out in the
 Hong Kong Prospectus) delivered by the Company and the Subsidiaries have been adequately
 described in each of the Hong Kong Public Offering Documents and the Preliminary Prospectus
 in accordance with the requirements under an acceptable sector of a specialist technology
 industry (as defined in the Listing Rules and set out in the Listing Guide).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.3 Each description of design and development,
 and functions and features, of the Specialist Technology Products, research and development
 activities and capabilities, pipelines and path to profitability contained in each of the
 Hong Kong Public Offering Documents and the Preliminary Prospectus is true and accurate and
 complete in all material aspects.

**Part B: Additional Representations and Warranties of the Single Largest Group of Shareholders**

Each of the Single Largest Group of Shareholders, jointly and severally, represents, warrants and undertakes to the Joint Sponsors, the Sponsor-OCs, the Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and the Hong Kong Underwriters and each of them as follows:

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| | |
|:---|:---|
| 1 | **Information about the Single Largest Group of Shareholders** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 All the information with respect to the Single
 Largest Group of Shareholders included in the Hong Kong Public Offering Documents and the
 Preliminary Prospectus (A) did not contain and will not contain any untrue statement
 of a material fact; and (B) did not omit and will not omit to state any material fact
 necessary in order to make the statements made therein, in the light of the circumstances
 under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 All information with respect to the Single
 Largest Group of Shareholders disclosed or made available in writing or orally from time
 to time by or on behalf of the Single Largest Group of Shareholders and/or any of their directors,
 officers, employees, Affiliates and/or agents, to the Joint Sponsors, the Sponsor-OCs, the
 Overall Coordinators, the CMIs, the Joint Global Coordinators, the Joint Bookrunners, the
 Joint Lead Managers and the Hong Kong Underwriters, any of the legal and other professional
 advisers to the Company or the Underwriters, the Stock Exchange, the SFC, the SEC, and/or
 the CSRC for the purposes of the Global Offering and/or the listing of the Shares on the
 Stock Exchange (including for the purposes of making submissions or applications to, or replying
 to queries or comments raised by, the Stock Exchange, the SFC, the SEC, and/or the CSRC)
 was, when disclosed or made available, and remains, complete, true and accurate in all material
 respects and not misleading, and was disclosed or made available in full and in good faith.

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| | |
|:---|:---|
| 2 | **Capacity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The Single Largest Group of Shareholders
 have been duly incorporated and are validly existing and in good standing under the Laws
 of their jurisdiction of incorporation or organization (where applicable) with legal right,
 power and authority (corporate and other) to own, use, lease and operate their properties
 and conduct their business in the manner presently conducted and as described in each of
 the Hong Kong Public Offering Documents and the Preliminary Prospectus and are capable of
 suing and being sued in their own names.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 The Single Largest Group of Shareholders
 have full right, power and authority (corporate and other) to execute, deliver and perform
 this Agreement and each of the Operative Documents to which they are a party.

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| | |
|:---|:---|
| 3 | **Execution and Authorization** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 This Agreement has been duly authorized,
 executed and delivered by the Single Largest Group of Shareholders and when duly authorized,
 executed and delivered by the other parties to this Agreement or thereto, constitutes a legal,
 valid and binding agreement of the Single Largest Group of Shareholders, enforceable against
 the Single Largest Group of Shareholders in accordance with its terms, subject, as to enforceability,
 to bankruptcy, insolvency, fraudulent transfer, reorganisation, moratorium and similar Laws
 of general applicability relating to or affecting creditors' rights and to general
 equity principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 The execution, delivery and performance of
 this Agreement, the International Underwriting Agreement and each of the Operative Documents
 to which the Single Largest Group of Shareholders are a party, the issuance and sale of the
 Offer Shares, the consummation of the transactions herein or therein contemplated, and the
 fulfilment of the terms of this Agreement or of those agreements, do not and will not conflict
 with, or result in a breach or violation of, or constitute a default under (or constitute
 any event which, with notice, lapse of time, fulfilment of any condition and/or compliance
 with any formality, would result in a breach or violation of, constitute a default under,
 or give the holder of any indebtedness (or a person acting on such holder's behalf)
 the right to require the repurchase, redemption or repayment of all or part of such indebtedness
 under): (A) the memorandum and association and articles of association or other organizational
 or constitutional documents of the Single Largest Group of Shareholders; (B) any indenture,
 mortgage, deed of trust, loan or credit agreement or other evidence of indebtedness, or any
 licence, authorization, lease, contract or other agreement or instrument to which the Single
 Largest Group of Shareholders are a party or by which the Single Largest Group of Shareholders
 or any of their properties or assets is or may be bound or affected; (C) any Laws applicable
 to the Single Largest Group of Shareholders or any of their properties or assets, or any
 judgment, order or decree of any Authority having jurisdiction over each Single Largest Group
 of Shareholders; or (D) result in the creation or imposition of any Encumbrance on
 any property or assets of the Single Largest Group of Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 The Single Largest Group of Shareholders
 are not in breach or violation of or in default under (and no event has occurred which, with
 notice, lapse of time, fulfilment of any condition and/or compliance with any formality,
 would result in a breach or violation of, constitute a default under, or give the holder
 of any indebtedness (or a person acting on such holder's behalf) the right to require
 the repurchase, redemption or repayment of all or part of such indebtedness under) (A) their
 memorandum and association and articles of association or other organizational or constitutional
 documents or their business license; (B) any indenture, mortgage, deed of trust, loan
 or credit agreement or other evidence of indebtedness, or any licence, lease, contract or
 other agreement or instrument to which they are a party or by which they or any of their
 properties or assets are or may be bound or affected; or (C) any Laws applicable to
 them or any of their properties or assets, with such exceptions in the case of (B) and
 (C) as could not reasonably be expected, individually or in the aggregate, to result
 in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Except for the final approval from the Stock
 Exchange for the listing of, and permission to deal in, the Shares on the Main Board of the
 Stock Exchange, all Governmental Authorizations under any Laws applicable to, or from or
 with any Authority having jurisdiction over, the Single Largest Group of Shareholders or
 any of their properties or assets, or otherwise from or with any other persons, required
 in connection with the performance by the Single Largest Group of Shareholders of their obligations
 under and the consummation of the transactions contemplated by this Agreement, the International
 Underwriting Agreement, the Operative Documents and each of the agreements relating to the
 Global Offering, have been obtained or made and are in full force and effect, and to the
 best of the Single Largest Group of Shareholders' knowledge, there is no reason to
 believe that any such Governmental Authorizations may be revoked, suspended or modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 Except as disclosed in each of the Hong Kong
 Public Offering Documents and the Preliminary Prospectus, or any individual Supplemental
 Offering Material, (A) there are no Actions or enquiries under any Laws or by or before
 any Authority pending or, to the best of the Single Largest Group of Shareholders'
 knowledge, threatened, to which the Single Largest Group of Shareholders are or may be a
 party or to which any of their properties or assets is or may be subject, at law or in equity;
 (B) there is no Law that has been enacted, adopted or issued that has been proposed
 by any Authority and there is no judgment, decree or order of any Authority, which would,
 or could reasonably be expected to, materially and adversely affect the power or ability
 of such Single Largest Group of Shareholders to perform their obligations under this Agreement,
 or to consummate the transactions contemplated by this Agreement or otherwise materially
 and adversely affect the Global Offering.

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| | |
|:---|:---|
| 4 | **Compliance with Laws** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Neither the Single Largest Group of Shareholders,
 their respective directors, officers, or employees, or, to the knowledge of the Single Largest
 Group of Shareholders, any agents, affiliates, representatives or other person acting on
 behalf of the Single Largest Group of Shareholders or their respective affiliates (collectively,
 the "**Shareholder Relevant Persons**") is aware of or has, directly or indirectly,
 made or authorised (A) the payment of any money or the giving of anything of value
 to any Government Official or to any person under circumstances where a Shareholder Relevant
 Person knew or was aware of a high probability that all or a portion of such money or thing
 of value would be offered, given or promised, directly or indirectly, to any Government Official,
 where either the payment, the contribution or the gift, or the purpose thereof, was, is,
 or would be prohibited under any applicable anti-corruption Laws; (B) used any funds
 for any unlawful contribution, gift, entertainment or other unlawful expense relating to
 political activity; or (C) made, offered, agreed, requested or taken an act in furtherance
 of any bribe or other unlawful benefit, rebate, payoff, influence payment, kickback or other
 unlawful or improper payment or benefit; without prejudice to the foregoing, none of Shareholder
 Relevant Persons has violated or is in violation of Anti-Corruption Laws; and the Single
 Largest Group of Shareholders and their Affiliates have conducted their businesses in compliance
 with Anti-Corruption Laws and have instituted, maintained and enforced, and will continue
 to maintain and enforce, policies and procedures designed to promote and achieve continued
 compliance with such laws and with the representations and warranties contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 The operations and conducts (as applicable)
 of the Single Largest Group of Shareholders are and have been conducted at all times in compliance
 with applicable financial recordkeeping and reporting requirements, including but not limited
 to those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening
 America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
 2001 (USA PATRIOT Act), the United States Currency and Foreign Transactions Reporting Act
 of 1970, as amended, the applicable Money Laundering Laws of all jurisdictions where the
 Single Largest Group of Shareholders conduct business, and no action, suit, proceeding, investigation
 or inquiry by or before any Authority involving the Single Largest Group of Shareholders
 with respect to the Anti-Money Laundering Laws is pending or, to the best of the knowledge
 of the Single Largest Group of Shareholders, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 None of the Shareholder Relevant Person,
 is currently subject to or target of any Sanctions Laws and Regulations, nor is the Single
 Largest Group of Shareholders located, organized or resident in a country, region or territory
 that is the subject or the target of Sanctions Laws and Regulations, including, without limitation,
 any Sanctioned Country.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The Single Largest Group of Shareholders
 will cause the Company not to directly or indirectly use the proceeds, or lend, contribute
 or otherwise make available such proceeds to any Subsidiary, joint venture partner or other
 Person or entity (i) for the purpose of financing or facilitating any activities or
 business of or with any Person that is subject to or the target of Sanctions Laws and Regulations,
 or of, with or in the Sanctioned Countries, or any country, region or territory that is targeted
 by or subject to any Sanctions Laws and Regulations, at the time of such funding or facilitation,
 or (ii) in any other manner that will result in a violation (including by any person
 or entity participating in the sale of the Offer Shares, whether as underwriter, advisor,
 investor or otherwise) of any of the Sanctions Laws and Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Since April 24, 2019, the Single Largest
 Group of Shareholders have not knowingly engaged in and are not now knowingly engaged in
 any dealings or transactions directly or indirectly with any Person, or in any country, region
 or territory, that at the time of the dealing or transaction is or was, or whose government
 was, the subject or target of a Sanctions Laws and Regulations or any entity owned or controlled
 by a Person who is the target of the Sanctions Laws and Regulations, or with any Sanctioned
 Country, or that would result in a violation of Sanctions Laws and Regulations by any Person
 (including any Person participating in the offering of the Offer Shares).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 There are (A) (i) no legal, arbitral
 or governmental actions, proceedings, investigations or inquires pending or threatened or
 contemplated by or before any Authority, to which the Single Largest Group of Shareholders
 or any of their subsidiaries, or any of their respective directors, supervisors (if any),
 officers, employees or Affiliates, is or may be a party or to which any properties, assets,
 products or services of the Single Largest Group of Shareholders or any of their subsidiaries,
 or any of their respective directors, supervisors (if any) or officers, is or may be subject,
 (ii) no Laws that have been enacted, adopted or issued or proposed by any Authority,
 and (iii) no judgments, decrees, orders proceedings, investigations or inquiries of
 any Authority, which, in any of clause (i), (ii) or (iii), would or could reasonably
 be expected to, individually or in the aggregate, have a Material Adverse Effect, or adversely
 affect the power or ability of the Single Largest Group of Shareholders to perform their
 obligations under this Hong Kong Underwriting Agreement, the International Underwriting Agreement
 and the Operative Documents, to offer, sell and deliver the Offer Shares or to consummate
 the transactions contemplated by this Agreement, the International Underwriting Agreement
 and the Operative Documents or otherwise adversely affect the Global Offering, or which are
 required to be described in the Hong Kong Public Offering Documents and the Preliminary Prospectus
 and are not so described; and (B) none of the Single Largest Group of Shareholders
 or any of their subsidiaries which is a party to a joint venture or shareholders' agreement
 is in dispute with the other parties to such joint venture or shareholders' agreement
 and there are no circumstances which may give rise to any dispute or affect the relevant
 member's relationship with such other parties.

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| | |
|:---|:---|
| 5 | **Connected Transactions** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 In respect of the connected transactions
 (as defined in the Listing Rules) of the Company (the "Connected Transactions"),
 (A) the Connected Transactions disclosed in each of the Hong Kong Public Offering Documents
 and the Preliminary Prospectus have been entered into and carried out, and will be carried
 out, in the ordinary course of business and on commercial terms and are fair and reasonable
 and in the interests of the Company and the shareholders of the Company as a whole; and (B) the
 Connected Transactions as disclosed in each of the Hong Kong Public Offering Documents and
 the Preliminary Prospectus has been duly authorized, executed and delivered, constitutes
 a legal, valid and binding agreement or undertaking of the parties thereto, enforceable in
 accordance with its terms, and in full force and effect.

---

| | |
|:---|:---|
| 6 | **Immunity** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Under the Laws of the Cayman Islands, British
 Virgin Islands, PRC, Hong Kong and the United States, none of the Single Largest Group of
 Shareholders, their subsidiaries, nor any of their respective properties, assets or revenues,
 is entitled to any right of immunity on the grounds of sovereignty or crown status or otherwise
 from any action, suit or proceeding, from set-off or counterclaim, from the jurisdiction
 of any court or arbitral tribunal, from service of process, from attachment to or in aid
 of execution of a judgment, arbitral award or from other action, suit or proceeding for the
 giving of any relief or for the enforcement of any judgment or arbitral award; and the irrevocable
 and unconditional waiver and agreement of the Single Largest Group of Shareholders in Clause
 18.7 hereof not to plead or claim any such immunity in any action, suit or proceeding arising
 out of or based on this Agreement or the International Underwriting Agreement or the transactions
 contemplated hereby and thereby is legal, valid and binding under the Laws of the Cayman
 Islands, British Virgin Islands, Hong Kong, the PRC and the United States.

---

| | |
|:---|:---|
| 7 | **Winding-Up** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 Neither the Single Largest Group of Shareholders
 nor any person acting on their behalf have taken any action nor have any steps been taken
 or legal, legislative or administrative proceedings been started, threatened or contemplated
 or judgment been rendered to (A) wind up, make bankrupt, dissolve, deregister, liquidate,
 make dormant, or eliminate the Single Largest Group of Shareholders; or (B) withdraw,
 revoke or cancel any Governmental Authorizations under any Laws applicable to, or from or
 with any Authority having jurisdiction over, the Single Largest Group of Shareholders or
 any of their respective properties or assets, required in order to conduct the business of
 the Single Largest Group of Shareholders. The Single Largest Group of Shareholders have not
 made any voluntary arrangement with any of its creditors and is not insolvent or unable to
 pay its debts as they fall due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 The Single Largest Group of Shareholders
 have not, at any time during the six-month period immediately prior to the completion of
 the Global Offering, sold, transferred or conducted any private placement of the Shares of
 the Company held by, or otherwise beneficially owned by the Single Largest Group of Shareholders.

**SCHEDULE 3**

**CONDITIONS PRECEDENT DOCUMENTS**

**Part A**

LEGAL DOCUMENTS

1. Three certified true copies of the resolutions
 of the Board (or a duly constituted committee of the Board):

&nbsp;&nbsp;&nbsp;&nbsp;1.1. approving and authorizing (or delegation
 thereof) this Agreement, the International Underwriting Agreement and each of the Operative
 Documents to which the Company is a party and such documents as may be required to be executed
 by the Company pursuant to each such Operative Document or which are necessary or incidental
 to the Global Offering and the execution on behalf of the Company of, and the performance
 by the Company of its obligations under, each such document;

&nbsp;&nbsp;&nbsp;&nbsp;1.2. approving (or delegation thereof) the
 Global Offering and any issue of Offer Shares pursuant thereto;

&nbsp;&nbsp;&nbsp;&nbsp;1.3. approving and authorizing (or delegation
 thereof) the issue of the Hong Kong Public Offering Documents, and the issue of the Preliminary
 Prospectus and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;1.4. approving and authorizing (or delegation
 thereof) the issue and the registration of the Hong Kong Prospectus with the Registrar of
 Companies in Hong Kong; and

&nbsp;&nbsp;&nbsp;&nbsp;1.5. approving (or delegation thereof) the
 Verification Notes.

2. Three certified copies of the minutes of a
 meeting (or written resolutions) of the governing body of Xu Han Limited, approving and/or
 ratifying (as applicable), among other things, the execution of this Agreement.

3. Three certified copies of the minutes of a
 meeting (or written resolutions) of the governing body of Tonyhan Limited, approving and/or
 ratifying (as applicable), among other things, the execution of this Agreement.

DOCUMENTS RELATING TO THE HONG KONG PUBLIC OFFERING

4. Three printed copies of the Hong Kong Prospectus
 duly signed by two Directors or their respective duly authorized attorneys and, if signed
 by their respective duly authorized attorneys, certified true copies of the relevant powers
 of attorney.

5. Three certified true copies of the Articles
 of Association.

6. Three certified true copies of each of the
 responsibility letters, the powers of attorney (except as already provided in item 4 above)
 and statements of interests signed by each of the Directors.

7. Three certified true copies of the service
 contracts of each of the Directors.

8. Three signed originals or certified true copies
 of the letter from each of the experts stated in the section headed "Other Information
 – Qualification of Experts" in Appendix IV to the Hong Kong Prospectus (except
 the consent letters from the Joint Sponsors), dated the Hong Kong Prospectus Date, containing
 consents to the issue of the Hong Kong Prospectus with the inclusion of references to the
 respective parties' names, and where relevant their reports and letters in the form
 and context in which they are included.

9. Three copies of each of the written confirmation
 from the Registrar of Companies in Hong Kong confirming the registration of the Hong Kong
 Prospectus and the authorization to register the Hong Kong Prospectus issued by the Stock
 Exchange.

10. Three copies of the written notification
 issued by HKSCC stating that the Class A Ordinary Shares will be Eligible Securities
 (as defined in the Listing Rules).

11. Three originals of the signature pages to
 the Verification Notes for the Hong Kong Prospectus duly signed by or on behalf of the Company
 and each of the directors of the Company (or their respective duly authorised attorneys).

12. Three signed originals of the accountants'
 report dated the Hong Kong Prospectus Date from the Reporting Accountants, the text of which
 is contained in Appendix I to the Hong Kong Prospectus.

13. Three signed originals of the letter from
 the Reporting Accountants, dated the Hong Kong Prospectus Date and addressed to the Company,
 relating to the unaudited pro forma financial information relating to the adjusted net tangible
 assets, the text of which is contained in Appendix II to the Hong Kong Prospectus.

14. Three signed originals of the letter from
 the Reporting Accountants, dated the Hong Kong Prospectus Date and addressed to the Company
 and copied the Joint Sponsors and the Overall Coordinators, and in form and substance satisfactory
 to the Joint Sponsors and the Overall Coordinators, which letter shall, *inter alia*,
 confirm the indebtedness statement contained in the Hong Kong Prospectus.

15. Three signed originals of the letter from
 the Reporting Accountants, dated the Hong Kong Prospectus Date and addressed to the Company
 and copied the Joint Sponsors and the Overall Coordinators, and in form and substance satisfactory
 to the Joint Sponsors and the Overall Coordinators, regarding the statement as to the working
 capital sufficiency of the Group contained in the Hong Kong Prospectus.

16. Three signed originals or certified true
 copies of the memorandum on the profit forecast for the year ending December 31, 2025
 and the working capital forecast for the period ending December 31, 2026 approved by
 the Board.

17. Three signed originals of the comfort letter
 from the Reporting Accountants, dated the date of the Hong Kong Prospectus and addressed
 to the Joint Sponsors, the Overall Coordinators and the Hong Kong Underwriters, and in form
 and substance satisfactory to the Joint Sponsors and Sponsor-OCs, which letter shall cover,
 without limitation, the various financial information disclosed in the Hong Kong Prospectus.

18. Three copies of the notification issued by
 the CSRC on the Company's completion of the PRC filing procedures for the Global Offering
 and the listing of the Class A Ordinary Shares on the Main Board.

LEGAL OPINION

19. Three signed originals or certified true
 copies of the legal opinion dated the date of the Hong Kong Prospectus from Commerce &
 Finance Law Offices, the Company's legal adviser as to PRC laws, addressed to the Company
 and in form and substance satisfactory to the Joint Sponsors and the Overall Coordinators.

20. Three signed originals or certified true
 copies of the legal opinion dated the date of the Hong Kong Prospectus from Commerce &
 Finance Law Offices, the Company's legal adviser as to PRC laws, in respect of the data compliance
 of the Group under PRC laws addressed to the Company and in form and substance satisfactory
 to the Joint Sponsors and the Overall Coordinators.

21. Three signed originals or certified true
 copies of the legal opinion dated the date of the Hong Kong Prospectus from Han Kun Law Offices,
 the Underwriters' legal adviser as to PRC laws, addressed to the Joint Sponsors, the
 Overall Coordinators and the Underwriters in form and substance satisfactory to the Joint
 Sponsors and the Overall Coordinators.

22. Three signed originals or certified true
 copies of the legal opinion dated the date of the Hong Kong Prospectus from Travers Thorp
 Alberga, the Company's legal adviser as to Cayman Islands laws, addressed to the Company,
 the Joint Sponsors, the Overall Coordinators and the Underwriters summarizing certain aspects
 of the corporate law of the Cayman Islands in form and substance satisfactory to the Joint
 Sponsors and the Overall Coordinators.

23. Three signed originals or certified true
 copies of the legal opinion dated the date of the Hong Kong Prospectus from Travers Thorp
 Alberga, the Company's legal adviser as to Cayman Islands laws, addressed to the Company,
 the Joint Sponsors, the Overall Coordinators and the Underwriters in respect of certain aspects
 of the Company under the Cayman Islands laws in form and substance satisfactory to the Joint
 Sponsors and the Overall Coordinators.

24. Three signed originals of the legal opinion
 dated the date of the Hong Kong Prospectus from the local counsel of Xu Han Limited and Tonyhan
 Limited, addressed to the Company, the Joint Sponsors, the Overall Coordinators and the Underwriters
 in respect of certain aspects of Xu Han Limited and Tonyhan Limited under the BVI laws in
 form and substance satisfactory to the Joint Sponsors and the Overall Coordinators.

25. Three signed originals of the legal opinion
 dated the date of the Hong Kong Prospectus from JUN HE LAW OFFICES LLC, the Company's
 legal adviser as to United States laws, addressed to the Company, the Joint Sponsors, the
 Overall Coordinators and the Underwriters in respect of certain aspects of WeRide Corp. under
 United States laws in form and substance satisfactory to the Joint Sponsors and the Overall
 Coordinators.

26. Three signed originals of the memorandum
 dated the date of the Hong Kong Prospectus from Akin & Gump Strauss Hauer &
 FELD LLP, the Company's export control adviser, addressed to the Company, the Joint
 Sponsors, the Overall Coordinators and the Underwriters in respect of the assessment of export
 control risks of the Group in form and substance satisfactory to the Joint Sponsors and the
 Overall Coordinators.

27. Three signed originals of the memorandum
 dated the date of the Hong Kong Prospectus from Akin & Gump Strauss Hauer &
 FELD LLP, the Company's CFIUS adviser, addressed to the Company, the Joint Sponsors,
 the Overall Coordinators and the Underwriters in respect of the assessment of outbound investment
 risks of the Group in form and substance satisfactory to the Joint Sponsors and the Overall
 Coordinators.

28. Three signed originals or certified true
 copies of the industry report prepared by the Industry Consultant.

29. Three signed originals or certified true
 copies of the internal controls report prepared by the Internal Control Consultant.

30. Three certified true copies of the Receiving
 Bank Agreement duly signed by the parties thereto.

31. Three certified true copies of the Registrar's
 Agreement duly signed by the parties thereto.

32. Three originals or certified true copies
 of (a) the certificate given by the relevant translator relating to the translation
 of the Hong Kong Prospectus and (b) the certificate issued by Toppan Nexus Limited
 as to the competency of such translator.

33. Three certified true copies of the undertaking
 signed by Dr. Tony Xu Han, Xu Han Limited and Tonyhan Limited to the Stock Exchange
 pursuant to Rule 10.07 and Rule 18C.13 of the Hong Kong Listing Rules.

34. Three certified true copies of the undertaking
 signed by key persons as disclosed in the Hong Kong Prospectus to the Stock Exchange pursuant
 to Rule 18C.14 of the Hong Kong Listing Rules.

35. Three certified true copies of the undertaking
 from the Company to the Stock Exchange pursuant to Rule 10.08 of the Listing Rules.

36. Three certified true copies of the undertaking
 from Dr. Tony Xu Han and Dr. Yan Li, respectively, to the Company pursuant to
 Rule 8A.43 of the Hong Kong Listing Rules.

37. Three certified true copies of the compliance
 adviser agreement entered into between the Company and Rainbow Capital (HK) Limited.

38. Three certified true copies of each of the
 following:

&nbsp;&nbsp;&nbsp;&nbsp;a) the certificate of incorporation of the
 Company (and the certificate of incorporation on change of name of the Company);

&nbsp;&nbsp;&nbsp;&nbsp;b) the certificate of registration of the
 Company under Part 16 of the Companies Ordinance; and

&nbsp;&nbsp;&nbsp;&nbsp;c) the current business registration certificate
 of the Company issued pursuant to the Business Registration Ordinance (Chapter 310 of the
 Laws of Hong Kong).

**Part B**

1. Three copies of a letter from the Stock Exchange
 giving its approval for the listing of the Class A Ordinary Shares.

2. Three signed originals of the bring-down comfort
 letter from the Reporting Accountants, dated the Listing Date and addressed to the Joint
 Sponsors, the Overall Coordinators and the Hong Kong Underwriters, and in form and substance
 satisfactory to the Joint Sponsors and the Overall Coordinators, which letter shall cover,
 without limitation, the various financial information disclosed in the Hong Kong Prospectus.

3. Three signed originals of each of the comfort
 letters and bringdown comfort letters dated, respectively, the date of the International
 Underwriting Agreement and the Listing Date from the Reporting Accountants to the Directors,
 the Joint Sponsors and the Overall Coordinators (for themselves and on behalf of the other
 International Underwriters), in form and substance satisfactory to the Joint Sponsors and
 the Overall Coordinators, which letters shall cover certain selected financial information
 contained in the Registration Statement, the Time of Sale Prospectus and the Final Prospectus.

4. Three signed originals or certified true copies
 of each of the following legal opinions, dated the Listing Date, and in form and substance
 satisfactory to the Joint Sponsors and the Overall Coordinators:

&nbsp;&nbsp;&nbsp;&nbsp;a) opinion from Travers Thorp Alberga, the
 Company's legal adviser as to Cayman Islands law, addressed to the Joint Sponsors,
 the Overall Coordinators and the Underwriters in respect of the Company (including a bring-down
 opinion of the opinions under item 23 of Part A);

&nbsp;&nbsp;&nbsp;&nbsp;b) opinion from the local counsel of Xu
 Han Limited and Tonyhan Limited, addressed to the Joint Sponsors, the Overall Coordinators
 and the Underwriters in respect of Xu Han Limited and Tonyhan Limited;

&nbsp;&nbsp;&nbsp;&nbsp;c) opinion from Commerce & Finance
 Law Offices, the Company's legal adviser as to PRC law, addressed to the Company (including
 a bring-down opinion of the opinions under item 19 of Part A);

&nbsp;&nbsp;&nbsp;&nbsp;d) opinion from Commerce & Finance
 Law Offices, the Company's legal adviser as to PRC law, in respect of the data compliance
 of the Group, addressed to the Company (including a bring-down opinion of the opinions under
 item 20 of Part A);

&nbsp;&nbsp;&nbsp;&nbsp;e) opinion from Han Kun Law Offices, the
 Underwriters' legal adviser as to PRC law, addressed to the Joint Sponsors, the Overall
 Coordinators and the Underwriters (including a bring-down opinion of the opinions under item
 21 of Part A);

&nbsp;&nbsp;&nbsp;&nbsp;f) opinion from Cooley HK, the Company's
 legal adviser as to United States laws, addressed to the Joint Sponsors, the Overall Coordinators
 and the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;g) opinion from Cooley HK, the Company's
 legal adviser as to Hong Kong laws, addressed to the Joint Sponsors, the Overall Coordinators
 and the Underwriters, including certain matters in respect of WeRide HongKong Limited;

&nbsp;&nbsp;&nbsp;&nbsp;h) negative assurance letter from Cooley
 HK, the Company's legal adviser as to United States laws, addressed to the Joint Sponsors,
 the Overall Coordinators and the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;i) opinion from JUN HE LAW OFFICES LLC,
 the Company's legal adviser as to United States laws, in respect of certain aspects
 of WeRide Corp., addressed to the Joint Sponsors, the Overall Coordinators and the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;j) memorandum from Akin & Gump
 Strauss Hauer & Feld LLP, the Company's export control adviser, in respect
 of the assessment of export control risks of the Group addressed to the Company, the Joint
 Sponsors, the Overall Coordinators and the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;k) memorandum from Akin & Gump
 Strauss Hauer & Feld LLP, the Company's CFIUS adviser, in respect of the
 assessment of outbound investment risks of the Group addressed to the Company, the Joint
 Sponsors, the Overall Coordinators and the Underwriters.

&nbsp;&nbsp;&nbsp;&nbsp;l) opinion from Latham & Watkins
 LLP, the Underwriters' legal adviser as to United States laws, addressed to the Joint
 Sponsors, the Overall Coordinators and the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;m) opinion from Latham & Watkins
 LLP, the Underwriters' legal adviser as to Hong Kong laws, addressed to the Joint Sponsors,
 the Overall Coordinators and the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;n) negative assurance letter from Latham &
 Watkins LLP, the Underwriters' legal adviser as to United States laws, addressed to
 the Joint Sponsors, the Overall Coordinators and the Underwriters;

5. Three signed original of the certificates
 signed by one executive Director of the Company or their authorized representatives dated
 the Listing Date and furnished to the Joint Sponsors and the Overall Coordinators (for themselves
 and on behalf of the Underwriters) to the effect that (a) the representations, warranties
 and undertakings of the Company contained in this Agreement are true and accurate and not
 misleading as of the Listing Date; and (b) the Company has complied with all of the
 obligations and satisfied all of the conditions of its part to be performed or satisfied
 hereunder on or before the Listing Date, in the form set forth in a schedule to the International
 Underwriting Agreement, to be delivered as required under the International Underwriting
 Agreement.

6. Three signed original of officer's certificate
 in the form set out in a schedule to the International Underwriting Agreement from the Chief
 Financial Officer of the Company, dated the Listing Date, in respect of the financial, operating
 and business data and other information that has been identified on the copies of each of
 the Hong Kong Prospectus, the Time of Sale Prospectus and the Final Prospectus that are not
 comforted by the Reporting Accountants, to be delivered as required under the International
 Underwriting Agreement.

7. Three signed original certificates issued
 by the joint company secretaries of the Company, dated the Listing Date, in the form set
 forth in a schedule to the International Underwriting Agreement, to be delivered as required
 under the International Underwriting Agreement.

8. Three signed originals of the certificates
 of each of Dr. Tony Xu Han, Xu Han Limited and Tonyhan Limited (each a member of the
 Single Largest Group of Shareholders of the Company) dated the Listing Date, in the form
 set forth in a schedule to the International Underwriting Agreement, to be delivered as required
 under the International Underwriting Agreement.

9. Three signed originals or certified true copies
 of the Price Determination Agreement duly signed by the parties thereto.

10. Three signed originals or certified true
 copies of the Stock Borrowing Agreement dated the Price Determination Date, each duly signed
 by the parties thereto.

11. Three copies of the certified true copy of
 the written resolutions by the authorized attorneys or committee of the Board approving the
 determination of final International Offer Price, Hong Kong Offer Price, the basis of allocation
 and the allotment and issue of the Offer Shares to the allottees.

**SCHEDULE 4**

**SET-OFF ARRANGEMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Schedule sets out the arrangements
 and terms pursuant to which the Hong Kong Underwriting Commitment of each Hong Kong Underwriter
 will be reduced to the extent that it makes (or procures to be made on its behalf) one or
 more valid Hong Kong Underwriter's Applications pursuant to the provisions of Clause 4.7.
 These arrangements mean that in no circumstances will any Hong Kong Underwriter have any
 further liability as a Hong Kong Underwriter to apply to purchase or procure applications
 to purchase Hong Kong Offer Shares if one or more Hong Kong Underwriter's Applications,
 duly made by it or procured by it to be made is/are validly made and accepted for an aggregate
 number of Hong Kong Offer Shares being not less than the number of Hong Kong Offer Shares
 comprised in its Hong Kong Underwriting Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. In order to qualify as Hong Kong Underwriter's
 Applications, such applications must be made online through the White Form eIPO Service
 at www.eipo.com.hk or by submitting an EIPO application through FINI complying in all respects
 with the terms set out in the section headed "How to Apply for Hong Kong Offer Shares"
 in the Hong Kong Prospectus by not later than 12:00 noon on the Acceptance Date in accordance
 with Clause 4.4. Copies of records for such applications will have to be faxed to the Overall
 Coordinators immediately after completion of such applications. Each such application must
 bear the name of the Hong Kong Underwriter by whom or on whose behalf the application is
 made and there must be clearly marked on the applications "Hong Kong Underwriter's
 Application", to the extent practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. No preferential consideration under the
 Hong Kong Public Offering will be given in respect of Hong Kong Underwriter's Applications.

**SCHEDULE 5<br> Formal Notice**

The Formal Notice is to be published on the official website of the Stock Exchange and the website of the Company on the following date:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Name of Publication** | &nbsp;&nbsp;**Dates of Advertisement** |
| &nbsp;&nbsp;Stock Exchange website | &nbsp;&nbsp; October 28, 2025 |
| &nbsp;&nbsp;Company website | &nbsp;&nbsp;October 28, 2025 |

---

**SCHEDULE 6**

**PROFESSIONAL INVESTOR TREATMENT NOTICE**

**Part A – IF YOU ARE AN INSTITUTIONAL INVESTOR:**

1. You are an Institutional Professional Investor
 by reason of your being within a category of person described in paragraphs (a) to
 (i) of the definition of "professional investor" in section 1 of Part 1
 of Schedule 1 to the SFO and any subsidiary legislation thereunder ()"**Institutional Professional Investor** ").

2. Since you are an Institutional Professional
 Investor, the Overall Coordinators are automatically exempt from certain requirements under
 paragraphs 15.4 and 15.5 of the Code of Conduct for Persons Licensed by or Registered with
 the SFC (the "**Code** "), and the Overall Coordinators have no regulatory
 responsibility to do but may in fact do some or all of the following in providing services
 to you:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Information about clients

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) establish your financial situation, investment
 experience and investment objectives, except where the Overall Coordinators are providing
 advice on corporate finance work;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) ensure that a recommendation or solicitation
 is suitable for you in the light of your investment objectives, investment strategy and financial
 position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) assess your knowledge of derivatives and
 characterize you based on your knowledge of derivatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Client agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) enter into a written agreement complying
 with the Code in relation to the services that are to be provided to you and provide you
 with the relevant risk disclosure statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Information for client

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) disclose related information to you in respect
 of the transactions contemplated under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) inform you about the business and the identity
 and status of employees and others acting on their behalf with whom you will have contact;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) promptly confirm the essential features
 of a transaction after effecting a transaction for you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) provide you with documentation on the Nasdaq-Amex
 Pilot Program (the "**Program** "), if you wish to deal through the Stock Exchange
 in securities admitted to trading on the Program;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) disclose transaction related information
 as required under paragraph 8.3A of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Discretionary accounts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) obtain from you an authority in written
 form prior to effecting transactions for you without your specific authority; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) explain the authority described under paragraph
 3.4(i) of Part B of this Schedule 6 and confirm it on an annual basis.

3. By entering into this Agreement, you represent
 and warrant to us that you are knowledgeable and have sufficient expertise in the products
 and markets that you are dealing in and are aware of the risks in trading in the products
 and markets that you are dealing in.

4. By entering into this Agreement, you hereby
 agree and acknowledge that you have read and understood and have been explained the consequences
 of consenting to being treated as a Professional Investor.

5. By entering into this Agreement, you agree
 and acknowledge that the Overall Coordinators will not provide you with any contract notes,
 statements of account or receipts under the Hong Kong Securities and Futures (Contract Notes,
 Statements of Account and Receipts) Rules (Chapter 571Q of the Laws of Hong Kong) where
 such would otherwise be required.

**Part B – IF YOU ARE A CORPORATE INVESTOR AND WE HAVE COMPLIED WITH PARAGRAPHS 15.3A AND 15.3B OF THE CODE:**

1. You are a Corporate Professional Investor by
 reason of your being within a category of person described in sections 3(a), (c) and
 (d) of the Securities and Futures (Professional Investor) Rules (Chapter 571D
 of the Laws of Hong Kong) ()"**Professional Investor Rules**") ()"**Corporate Professional Investor** ").

The following persons are Corporate Professional Investors under Sections 3(a), (c) and (d) of the Professional Investor Rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a trust corporation having been entrusted
 under one or more trusts of which it acts as a trustee with total assets of not less than
 $40 million at the relevant date or as ascertained in accordance with Section 8 of
 the Professional Investor Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a corporation (other than a trust corporation
 referred to in paragraph (i)):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) having:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) a portfolio of not less than $8 million;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) total assets of not less than $40 million,

at the relevant date or as ascertained in accordance with Section 8 of the Professional Investor Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) which, at the relevant date, has as its principal business the holding of investments and is wholly owned by any one or more of the following persons:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) a trust corporation specified in paragraph
 (i);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) an individual specified in Section 5(1) of
 the Professional Investor Rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(III) a corporation specified in this paragraph
 or paragraph (ii)(A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(IV) a partnership specified in paragraph
 (iii);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(V) a professional investor within the meaning
 of paragraph (a), (d), (e), (f), (g) or (h) of the definition of professional
 investor in section 1 of Part 1 of Schedule 1 to the SFO; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) which, at the relevant date, wholly owns
 a corporation referred to in paragraph (ii)(A);

and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a partnership having:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a portfolio of not less than $8 million; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) total assets of not less than $40 million,

at the relevant date or as ascertained in accordance with Section 8 of the Professional Investor Rules.

Section 8 of the Professional Investor Rules requires that the total assets entrusted to a trust corporation, or the portfolio or total assets of a corporation or partnership, are to be ascertained by referring to any one or more of the following:

(i) the most recent audited financial statement prepared within 16 months before the relevant date in respect of the trust
corporation (or a trust of which it acts as a trustee), corporation or partnership;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any one or more of the following documents issued or submitted within 12 months before the relevant date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a statement of account or a certificate issued by a custodian;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a certificate issued by an auditor or a certified public accountant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) a public filing submitted by or on behalf
 of the trust corporation (whether on its own behalf or in respect of a trust of which it
 acts as a trustee), corporation or partnership.

2. The Overall Coordinators have categorized you
 as a Corporate Professional Investor based on information you have given to the Overall Coordinators.
 You will inform the Overall Coordinators promptly in the event any such information ceases
 to be true and accurate. You will be treated as a Corporate Professional Investor in relation
 to all investment products and markets. As a consequence of your categorization as a Corporate
 Professional Investor and the Overall Coordinators' assessment of you as satisfying
 the criteria set out in Paragraph 15.3A(b) of the Code, the Overall Coordinators are
 exempt from certain requirements under Paragraphs 15.4 and 15.5 of the Code.

3. By entering into this Agreement, you hereby
 consent to being treated as a Corporate Professional Investor, agree and acknowledge that
 you have read and understood and have been explained the risks and consequences of consenting
 to being treated as a Corporate Professional Investor and agree that the Overall Coordinators
 have no regulatory responsibility to do but may in fact do some or all of the following in
 providing services to you:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 Information about clients

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) establish your financial situation, investment
 experience and investment objectives, except where the Overall Coordinators are providing
 advice on corporate finance work;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) ensure that a recommendation or solicitation
 is suitable for you in the light of your investment objectives, investment strategy and financial
 position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) assess your knowledge of derivatives and
 characterize you based on your knowledge of derivatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Client agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) enter into a written agreement complying
 with the Code in relation to the services that are to be provided to you and provide you
 with the relevant risk disclosure statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Information for client

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) disclose related information to you in
 respect of the transactions contemplated under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) inform you about the business and the
 identity and status of employees and others acting on their behalf with whom you will have
 contact;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) promptly confirm the essential features
 of a transaction after effecting a transaction for you;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) provide you with documentation on the Nasdaq-Amex
 Pilot Program (the "**Program** "), if you wish to deal through the Stock Exchange
 in securities admitted to trading on the Program;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) disclose transaction related information
 as required under paragraph 8.3A of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 Discretionary accounts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) obtain from you an authority in written
 form prior to effecting transactions for you without your specific authority; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) explain the authority described under paragraph
 3.4(i) of Part B of this Schedule 6 and confirm it on an annual basis.

4. You have the right to withdraw from being treated
 as a Corporate Professional Investor at any time in respect of all or any investment products
 or markets by giving a written notice to the Overall Coordinators.

5. By entering into this Agreement, you represent
 and warrant to us that you are knowledgeable and have sufficient expertise in the products
 and markets that you are dealing in and are aware of the risks in trading in the products
 and markets that you are dealing in.

6. By entering into this Agreement, you hereby
 agree and acknowledge that the Overall Coordinators or Affiliates of the Overall Coordinators
 (and any person acting as the settlement agent for the Hong Kong Public Offering and/or the
 Global Offering) will not provide you with any contract notes, statements of account or receipts
 under the Hong Kong Securities and Futures (Contract Notes, Statements of Account and Receipts)
 Rules (Chapter 571Q of the Laws of Hong Kong) where such would otherwise be required.

**Part C – IF YOU ARE AN INDIVIDUAL INVESTOR:**

1. You are a Professional Investor by reason of
 your being within a category of person described in section 3(b) of the Professional
 Investor Rules ()"**Individual Professional Investor** "). You will inform
 the Overall Coordinators promptly in the event any information you have given the Overall
 Coordinators ceases to be true and accurate.

The following persons are Individual Professional Investors under Section 3(b) of the Professional Investor Rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an individual having a portfolio of not
 less than $8 million at the relevant date or as ascertained in accordance with Section 8
 of the Professional Investor Rules, when any one or more of the following are taken into
 account:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a portfolio on the individual's own account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a portfolio on a joint account with the individual's associate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the individual's share of a portfolio on a joint account with one or more persons other than the individual's associate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) a portfolio of a corporation which, at the relevant date, has as its principal business the holding of investments and is wholly owned
by the individual.

For the purposes of paragraph (i)(C), an individual's share of a portfolio on a joint account with one or more persons other than the individual's associate is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the individual's share of the portfolio as specified in a written agreement among the account holders; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) in the absence of an agreement referred to in paragraph (A), an equal share of the portfolio.

Section 8 of the Professional Investor Rules requires the portfolio of an individual to be ascertained by referring to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any one or more of the following documents issued or submitted within 12 months before the relevant date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a statement of account or a certificate issued by a custodian;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a certificate issued by an auditor or a certified public accountant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) a public filing submitted by or on behalf of the individual.

2. By entering into this Agreement, you hereby
 consent to being treated as an Individual Professional Investor in respect of all investment
 products and markets, agree and acknowledge that you have read and understood and have been
 explained the risks and consequences of consenting to being treated as an Individual Professional
 Investor and agree that the Overall Coordinators have no regulatory responsibility to do
 but may in fact do some or all of the following in providing services to you:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) inform you about the business and the
 identity and status of employees and others acting on their behalf with whom you will have
 contact;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) promptly confirm the essential features
 of a transaction after effecting a transaction for you; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) provide you with documentation on the
 Program, if you wish to deal through the Stock Exchange in securities admitted to trading
 on the Program.

3. You have the right to withdraw from being treated
 as an Individual Professional Investor at any time in respect of all or any investment products
 or markets by giving a written notice to the Overall Coordinators.

4. By entering into this Agreement, you hereby
 agree and acknowledge that the Overall Coordinators or Affiliates of the Overall Coordinators
 (and any person acting as the settlement agent for the Hong Kong Public Offering and/or the
 Global Offering) will not provide you with any contract notes, statements of account or receipts
 under the Hong Kong Securities and Futures (Contract Notes, Statements of Account and Receipts)
 Rules (Chapter 571Q of the Laws of Hong Kong) where such would otherwise be required.

5. If the Overall Coordinators solicit the sale
 of or recommend any financial product to you, the financial product must be reasonably suitable
 for you having regard to your financial situation, investment experience and investment objectives.
 No other provision of this Agreement or any other document the Overall Coordinators may ask
 you to sign and no statement the Overall Coordinators may ask you to make derogates from
 this paragraph 5 of Part C of this Schedule 6.

**IN WITNESS** whereof this Agreement has been entered into the day and year first before written.

---

| | | |
|:---|:---|:---|
| **SIGNED by Xu Han** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Xu Han |
| **WeRide Inc.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |

---

*Signature page of Hong Kong Underwriting Agreement*

---

| | | |
|:---|:---|:---|
| **SIGNED by** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| **Xu Han** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Xu Han |

---

*Signature page of Hong Kong Underwriting Agreement*

---

| | | |
|:---|:---|:---|
| **SIGNED by Xu Han** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Xu Han |
| **Xu Han Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |

---

*Signature page of Hong Kong Underwriting Agreement*

---

| | | |
|:---|:---|:---|
| **SIGNED by Xu Han** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Xu Han |
| **Tonyhan Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Zhang Hongyi** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Zhang Hongyi |
| **China International Capital Corporation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| **Hong Kong Securities Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Alvin Cheung** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Alvin Cheung |
| **Morgan Stanley Asia Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Peihao Huang** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Peihao Huang |
| **J.P. Morgan Securities (Asia Pacific) Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Zhang Hongyi** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| **China International Capital Corporation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Zhang Hongyi |
| **Hong Kong Securities Limited** | **)** |  |
| as attorney for and on behalf of each of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| the other Hong Kong Underwriters (as defined herein) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Alvin Cheung** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| **Morgan Stanley Asia Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Alvin Cheung |
| as attorney for and on behalf of each of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| the other Hong Kong Underwriters (as defined herein) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

---

| | | |
|:---|:---|:---|
| **SIGNED by Peihao Huang** | **)** |  |
| for and on behalf of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| **J.P. Morgan Securities (Asia Pacific) Limited** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) | /s/ Peihao Huang |
| as attorney for and on behalf of each of | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| the other Hong Kong Underwriters (as defined herein) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) |  |
| Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement | Signature page of Hong Kong Underwriting Agreement |

---

## Exhibit 99.1

**Exhibit 99.1**

**WeRide Announces Pricing of Global Offering**

NEW YORK, November 3, 2025 (GLOBAL NEWSWIRE) – WeRide Inc. ("WeRide" or the "Company") (Nasdaq: WRD), a global leader in autonomous driving technology, today announced the pricing of its global offering (the "Global Offering") of 88,250,000 Class A ordinary shares of the Company (the "Offer Shares"), which comprises an international offering (the "International Offering") and a Hong Kong public offering (the "Hong Kong Public Offering").

The final offering price for both the International Offering and the Hong Kong Public Offering (the "Offering Price") has been set as HK$27.10 per Offer Share. Based on the ratio of three Class A ordinary shares per Nasdaq-listed American depositary share (the "ADS"), the Offering Price translates to approximately US$10.36 per ADS based on an exchange rate of HK$7.8499 to US$1.00 as of June 30, 2025 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.

In addition, the Company has granted an over-allotment option to the international underwriters, exercisable by the Overall Coordinators (as defined below) on behalf of the international underwriters, at any time until the 30 days after the last date for the lodging of applications under the Hong Kong Public Offering, to require the Company to issue up to an aggregate of 13,237,500 additional Offer Shares at the Offering Price.

Subject to approval from The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), the Class A ordinary shares of the Company are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on or about Thursday, November 6, 2025 under the stock code "0800." The Global Offering is expected to close on the same day, subject to customary closing conditions.

The gross proceeds to the Company from the Global Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be HK$2,391.6 million, assuming the over-allotment option is not exercised (or HK$2,750.3 million, assuming the over-allotment option is exercised in full). The Company intends to use the net proceeds from the Global Offering to further develop its autonomous driving technology stack, accelerate the commercial mass production and/or operation of L4 fleets, enhance the quality of its autonomous driving products and solutions, expand its business scale, support the establishment of marketing teams and branches, invest in marketing activities, and provide working capital and general corporate purposes.

China International Capital Corporation Hong Kong Securities Limited ("CICC"), Morgan Stanley Asia Limited ("MS") are acting as joint sponsors and sponsor-overall coordinators for the Global Offering. CICC, MS and J.P. Morgan Securities (Asia Pacific) Limited ("JPM") are acting as overall coordinators (the "Overall Coordinators") and joint global coordinators for the Global Offering. CICC, MS, JPM, BOCI Asia Limited ("BOCI"), Futu Securities International (Hong Kong) Limited ("Futu"), Daiwa Capital Markets Hong Kong Limited ("Daiwa"), ABCI Capital Limited ("ABCI Capital") and ICBC International Securities Limited ("ICBCI") are acting as the joint bookrunners for the Global Offering. CICC, MS, JPM, BOCI, Futu, Daiwa, ABCI Securities Company Limited ("ABCI Securities") and ICBCI are acting as the joint lead managers for the Global Offering. CICC, MS, JPM, BOCI, Futu, Daiwa, ABCI Capital, ABCI Securities, ICBCI are acting as the capital market intermediaries for the Global Offering.

The International Offering is being made only by means of a prospectus supplement and the accompanying prospectus. The accompanying prospectus is included in an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the "SEC") on November 3, 2025, which automatically became effective upon filing. The registration statement on Form F-3 and the preliminary prospectus supplement dated November 3, 2025 are available on the SEC's website at *http://www.sec.gov*. The final prospectus supplement will be filed with the SEC and will be available on the SEC's website at *http://www.sec.gov*. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from China International Capital Corporation Hong Kong Securities Limited at 29/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong or by telephone at +852-2872-2000 or by e-mailing g_prospectus@cicc.com.cn; Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States of America, or by calling +1-866-718-1649, or by email at prospectus@morganstanley.com; and J.P. Morgan Securities (Asia Pacific) Limited, 28/F, Chater House, 8 Connaught Road Central, Hong Kong, Asian ECM Syndicate Asian_ECM_Syndicate@jpmorgan.com.

This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined under the laws of Hong Kong) and potential investors should read the prospectus of the Company for detailed information about the Company and the offering, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by the SEC, the Hong Kong Stock Exchange or the Securities and Futures Commission of Hong Kong.

The price of the Class A ordinary shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). The details of the intended stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) was contained in the Hong Kong prospectus of the Company dated October 28, 2025.

**About WeRide**

**Safe Harbor Statement**

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about WeRide's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in WeRide's filings with the SEC. All information provided in this press release is as of the date of this press release. WeRide does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

**Investor Contact**

<u>ir@weride.ai</u>