# EDGAR Filing Document

**Accession Number:** 0001733868
**File Stem:** 0001213900-25-119842
**Filing Date:** 2025-12
**Character Count:** 126268
**Document Hash:** 39c72f027e0548b24d135e131b1fbd03
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-119842.hdr.sgml**: 20251210

**ACCESSION NUMBER**: 0001213900-25-119842

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251210

**FILED AS OF DATE**: 20251210

**DATE AS OF CHANGE**: 20251210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CNFinance Holdings Ltd.
- **CENTRAL INDEX KEY:** 0001733868
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38726
- **FILM NUMBER:** 251560788

**BUSINESS ADDRESS:**
- **STREET 1:** 22/F, SOUTH FINANCE CTR, NO. 6 WUHENG RD
- **STREET 2:** TIANHE DISTRICT, GUANGZHOU CITY
- **CITY:** GUANGDONG PROVINCE
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 86-020-62316688

**MAIL ADDRESS:**
- **STREET 1:** 22/F, SOUTH FINANCE CTR, NO. 6 WUHENG RD
- **STREET 2:** TIANHE DISTRICT, GUANGZHOU CITY
- **CITY:** GUANGDONG PROVINCE
- **STATE:** F4
- **ZIP:** 00000

UNITED STATES

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 OF<br> THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of December 2025**

**Commission file number: 001-38726**

**CNFinance Holdings Limited**

(Exact Name of Registrant as Specified in Its Charter)

**22/F, South Finance Center, No. 6 Wuheng Road**

**Tianhe District, Guangzhou City, Guangdong Province**

**People's Republic of China**

**+86-20-62316688**

(Address of Principal Executive Offices)

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

Form 20-F ☒ Form 40-F ☐

**EXPLANATORY NOTE**

On December 10, 2025, CNFinance Holdings Limited (the "Company") held an extraordinary general meeting in Guangzhou (the "EGM").

The Company hereby submits this current report on Form 6-K (the "Report") to furnish (i) a press release announcing the voting results of the EGM as set forth in Exhibit 99.1 hereto and (ii) the Third Amended and Restated Memorandum and Articles of Association of the Company as set forth in Exhibit 3.1 hereto. For more details, please refer to exhibits to this Report.

**INCORPORATION BY REFERENCE**

Exhibit 3.1 to this Report shall be incorporated by reference into the Company's registration statement on [Form F-3](http://www.sec.gov/Archives/edgar/data/1733868/000121390023008997/ea172757-f3a5_cnfinancehold.htm), as amended, which became effective on February 15, 2023 (File no. 333-259304), and be a part thereof from the date on which this Report is furnished to the SEC, to the extent not superseded by documents or reports subsequently filed or furnished.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Third Amended and Restated Memorandum and Articles of Association of CNFinance Holdings Limited](ea026912001ex3-1_cnfinance.htm) |
| 99.1 | [Press release](ea026912001ex99-1_cnfinance.htm) |

---

**Signature**

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

---

| | | | |
|:---|:---|:---|:---|
|  | CNFINANCE HOLDINGS LIMITED | CNFINANCE HOLDINGS LIMITED | CNFINANCE HOLDINGS LIMITED |
| Date: December 10, 2025 | By: | /s/ Bin Zhai | /s/ Bin Zhai |
|  |  | Name: | Bin Zhai |
|  |  | Title: | Chief Executive Officer and Chairman |

---

## Exhibit 3.1

**Exhibit 3.1**

**THE COMPANIES ACT (AS AMENDED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**Memorandum AND articles OF association**

**of**

**CNFinance Holdings Limited**

**深泛联控股有限公司**

**(AMENDED BY SPECIAL RESOLUTION DATED DECEMBER 10, 2025)**

**THE COMPANIES ACT (AS AMENDED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**MEMORANDUM of ASSOCIATION**

**OF**

**CNFINANCE HOLDINGS Limited**

**深泛联控股有限公司**

**(AMENDED BY SPECIAL RESOLUTION DATED DECEMBER 10, 2025)** 

1. The name of the Company is CNFinance Holdings Limited **深泛联控股有限公司** (the "**Company** ").

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

3. The objects for which the Company is established are unrestricted and the Company shall have full power
and authority to carry out any object not prohibited by any law as provided by Section 7(4) of the Companies Act (as amended) of the Cayman
Islands (the "**Companies Act** ").

4. The Company shall have and be capable of exercising all the functions of a natural person of full capacity
irrespective of any question of corporate benefit as provided by Section 27(2) of the Companies Act.

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

6. The liability of the shareholders of the Company is limited to the amount from time to time, if any, unpaid
on the shares respectively held by them.

7. The authorised share capital of the Company is US$2,000,000 divided into 20,000,000,000 shares of a nominal
or par value of US$0.0001 each, comprising of (i) 18,000,000,000 Class A Ordinary Shares of a nominal or par value of US$0.0001 each,
and (ii) 2,000,000,000 Class B Ordinary Shares of a nominal or par value of US$0.0001 each. Subject to the Companies Act and the Articles
of Association, the Company shall have power to redeem or purchase any of its shares, and to sub-divide or consolidate the said shares
or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference,
priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and
so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference
or otherwise shall be subject to the powers on the part of the Company hereinbefore provided.

8. The Company may exercise the power contained in Section 206 of the Companies Act to deregister in the
Cayman Islands and be registered by way of continuation in some other jurisdiction.

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

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **CLAUSE** | **PAGE** |
| TABLE A | 1 |
| Interpretation | 1 |
| Preliminary | 4 |
| Shares | 5 |
| Modification Of Rights | 8 |
| Certificates | 9 |
| Fractional Shares | 9 |
| Lien9 | 9 |
| Calls On Shares | 10 |
| Forfeiture Of Shares | 11 |
| Transfer Of Shares | 11 |
| Transmission Of Shares | 12 |
| Alteration Of SHARE Capital | 12 |
| Redemption, Purchase and Surrender Of Shares | 13 |
| Treasury Shares | 14 |
| General Meetings | 14 |
| Proceedings At General Meetings | 15 |
| Votes Of shareholders | 16 |
| Corporations Acting By Representatives At Meetings | 18 |
| clearing houses | 18 |
| Directors | 18 |
| Alternate Director | 19 |
| Powers And Duties Of Directors | 19 |
| Borrowing Powers Of Directors | 20 |
| The Seal | 21 |
| Disqualification Of Directors | 21 |
| Proceedings Of Directors | 21 |
| presumption of assent | 23 |
| Dividends | 23 |
| Accounts, Audit and annual return and declaration | 24 |
| Capitalisation Of reserves | 25 |
| Share Premium Account | 26 |
| Notices | 26 |
| Indemnity | 27 |
| Non-Recognition Of Trusts | 28 |
| Winding Up | 28 |
| Amendment Of Articles Of Association | 28 |
| Closing of register or fixing record date | 29 |
| Registration By Way Of Continuation | 29 |
| disclosure | 29 |

---

i

**THE COMPANIES ACT (AS AMENDED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**THIRD AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**CNFinance holdings Limited**

**深泛联控股有限公司**

**(AMENDED BY SPECIAL RESOLUTION DATED DECEMBER 10, 2025)** 

**TABLE A**

The Regulations contained or incorporated in Table 'A' in the First Schedule of the Companies Act shall not apply to CNFinance Holdings Limited 深泛联控股有限公司 (the "**Company**") and the following Articles shall comprise the Articles of Association of the Company.

**Interpretation**

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

"**ADS**" means an American depositary share, each representing such number of Class A Ordinary Shares as set out in the registration statements of the Company;

"**Affiliate**" means in respect of a Person, any other Person that, directly or indirectly, through (1) one or more intermediaries, controls, is controlled by, or is under common control with, such Person, and (i) in the case of a natural person, shall include, without limitation, such person's spouse, parents, children, siblings, mother-in-law, father-in-law, brothers-in-law and sisters-in-law, a trust for the benefit of any of the foregoing, and a corporation, partnership or any other entity wholly or jointly owned by any of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any other entity or any natural person which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term "control" shall mean the ownership, directly or indirectly, of shares possessing more than fifty per cent (50%) of the voting power of the corporation, partnership or other entity (other than, in the case of a corporation, securities having such power only by reason of the happening of a contingency), or having the power to control the management or elect a majority of members to the board of directors or equivalent decision-making body of such corporation, partnership or other entity;

"**Articles**" means these articles of association of the Company, as amended or substituted from time to time;

"**Board**" and "**Board of Directors**" and "**Directors**" means the directors of the Company for the time being, or as the case may be, the directors assembled as a board or as a committee thereof;

"**Chairman**" means the chairman of the Board of Directors;

"**Class**" or "**Classes**" means any class or classes of Shares as may from time to time be issued by the Company;

"**Class A Ordinary Shares**" means class A ordinary shares of a nominal or par value of US$0.0001 each of the Company having the rights and restrictions set out in these Articles;

"**Class B Ordinary Shares**" means class B ordinary shares of a nominal or par value of US$0.0001 each of the Company having the rights and restrictions set out in these Articles;

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

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

"**Company**" means CNFinance Holdings Limited 深泛联控股有限公司, a Cayman Islands exempted company;

"**Company's Website"** means the website of the Company, the address or domain name of which has been notified to Shareholders;

"**Conversion**" has the meaning ascribed to it in Article 10(a)(i);

"**Conversion Date**" means in respect of a Conversion, the day on which that the Conversion is effective;

"**Conversion Notice**" means a written notice delivered to the Company at its Office (and as otherwise stated therein) stating that a holder of Class B Ordinary Shares or Class A Ordinary shares (as the case may be) elects to convert the number of Class B Ordinary Shares or Class A Ordinary Shares (as the case may be) specified therein pursuant to Article;

"**Designated Stock Exchange**" means the stock exchange in the United States on which any Shares and ADSs are listed for trading;

"**Designated Stock Exchange Rules**" means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares or ADSs on the Designated Stock Exchange;

"**electronic"** means the meaning given to it in the Electronic Transactions Act (as amended) of the Cayman Islands and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor;

"**electronic communication"** means electronic posting to the Company's Website, transmission to any number, address or internet website or other electronic delivery methods as otherwise decided and approved by not less than a majority of the vote of the Board;

"**Independent Director"** means a Director who is an independent director as defined in the Designated Stock Exchange Rules;

"**Lock-up Period**" has the meaning ascribed to it in Article 10(a)(i);

"**Memorandum of Association**" means the memorandum of association of the Company, as amended or substituted from time to time;

"**Month**" means calendar month;

"**Office**" means the registered office of the Company as required by the Companies Act;

"**Officer**" means the offices for the time being and from time to time of the Company;

"**Ordinary Resolution**" means a resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed by a simple majority of the votes cast by such Shareholders as, being entitled to do so, vote in
person or, where proxies are allowed, by proxy at a general meeting of the Company and where a poll is taken regard shall be had in computing
a majority to the number of votes to which each Shareholder is entitled by these Articles; or

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

"**paid up**" means paid up as to the par value in respect of the issue of any Shares and includes credited as paid up;

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

"**Register**" means the register of Members of the Company required to be kept pursuant to the Companies Act;

"**Seal**" means the common seal of the Company (if adopted) including any facsimile thereof;

"**Secretary**" means any Person appointed by the Directors to perform any of the duties of the secretary of the Company;

"**Securities Act**" means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time;

"**Share**" means a share in the capital of the Company, including a Class A Ordinary Share and a Class B Ordinary Share. All references to "Shares" herein shall be deemed to be Shares of any or all Classes as the context may require. For the avoidance of doubt in these Articles the expression "Share" shall include a fraction of a Share;

"**Shareholder**" or "**Member**" means a Person who is registered as the holder of Shares in the Register and includes each subscriber to the Memorandum of Association pending entry in the Register of such subscriber;

"**Share Premium Account**" means the share premium account established in accordance with these Articles and the Companies Act;

"**signed**" means bearing a signature or representation of a signature affixed by mechanical means or an electronic symbol or process attached to or logically associated with an electronic communication and executed or adopted by a person with the intent to sign the electronic communication;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed by not less than two-thirds of the votes cast by such Shareholders as, being entitled to do so,
vote in person or, where proxies are allowed, by proxy at a general meeting of the Company of which notice specifying the intention to
propose the resolution as a special resolution has been duly given and where a poll is taken regard shall be had in computing a majority
to the number of votes to which each Shareholder is entitled; or

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

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

"**United States**" means the United States of America, its territories, its possessions and all areas subject to its jurisdiction; and

"**year**" means calendar year.

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

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

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

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

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any requirements as to execution or signature under the Articles, including the execution of the Articles
themselves, can be satisfied in the form of an electronic signature as defined in the Electronic Transaction Act (as amended). Sections
8 and 19 of the Electronic Transactions Act (as amended) shall not apply.

3. Subject to the last two preceding Articles, any words defined in the Companies Act shall, if not inconsistent
with the subject or context, bear the same meaning in these Articles.

**Preliminary**

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

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

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

7. The Directors shall keep, or cause to be kept, the Register at such place or (subject to compliance with
the Companies Act and these Articles) places as the Directors may from time to time determine. In the absence of any such determination,
the Register shall be kept at the Office.

**Shares**

8. Subject to these Articles, all Shares for the time being unissued shall be under the control of the Directors
who may, in their absolute discretion and without the approval of the Members, cause the Company to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue, allot or dispose of the same (whether in certificated form or non-certificated form, including
fractions of a Share) to such Persons, in such manner, on such terms and having such rights and being subject to such restrictions as
they may from time to time determine;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) grant options with respect to such Shares and issue warrants, convertible securities or similar instruments
with respect thereto;

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued.

9. The Directors, or the Shareholders by Ordinary Resolution, may authorise the division of Shares into any
number of Classes and sub-classes and the different Classes and sub-classes shall be authorised, established and designated (or re-designated
as the case may be) and the variations in the relative rights (including, without limitation, voting, dividend and redemption rights),
restrictions, preferences, privileges and payment obligations as between the different Classes (if any) may be fixed and determined by
the Directors or by the Shareholders by Ordinary Resolution. The Directors may issue Shares with such preferred or other rights, all or
any of which may be greater than the rights of Shares, at such time and on such terms as they may think appropriate. Notwithstanding Article 12
the Directors may issue from time to time, out of the authorised share capital of the Company (other than the authorised but unissued
Shares), series of preferred shares in their absolute discretion and without approval of the Members; provided, however, before any preferred
shares of any such series are issued, the Directors shall by resolution of Directors determine, with respect to any series of preferred
shares, the terms and rights of that series, including:

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

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

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

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

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

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

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

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

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

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

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued. The Company is not obliged to issue, allot or dispose of shares if it is, in the opinion of the Directors, unlawful or impracticable. The Company shall not issue Shares to bearer.

10. Subject to Articles 8 and 9, the Memorandum of Association and any resolution of the Members to the contrary
and without prejudice to any special rights conferred thereby on the holders of any other shares or class of shares, the share capital
of the Company immediately upon the effectiveness of these Articles shall be divided into two classes, Class A Ordinary Shares and Class
B Ordinary Shares. The Class A Ordinary Shares and the Class B Ordinary Shares shall carry equal rights and rank *pari passu* with
one another other than as set out below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Conversion

&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) Class B Ordinary Shares shall only be held by a Director, Officer or their Affiliates. In no event shall
each Class B Ordinary Share is convertible into Class A Ordinary Shares during the first year of the Class B Ordinary Share(s) being subscribed
by the holder (the "**Lock-up Period** "). After the Lock-up Period has passed, each Class B Ordinary Share held by the Director,
Officer or their Affiliates only is convertible into one (1) Class A Ordinary Share at any time by the holder thereof subject to prior
approval by the Directors. The right to convert shall be exercisable by the holder of the Class B Ordinary Share delivering a written
notice to the Company that such holder elects to convert a specified number of Class B Ordinary Shares into Class A Ordinary Shares (the
" **Class A Ordinary Share Conversion** ").

&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) Each Class A Ordinary Shares is convertible into one (1) Class B Ordinary Share at any time by the holder
thereof subject to prior approval by the Directors. The right to convert shall be exercisable by the holder of the Class A Ordinary Share
delivering a written notice to the Company that such holder elects to convert a specified number of Class A Ordinary Shares into Class
B Ordinary Shares (together with the Class A Ordinary Share Conversion, the "**Conversion** ").

&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) Subject to these Articles, upon any sale, transfer, assignment or disposition of Class B Ordinary Shares
by a holder thereof to any Person which is not an Affiliate of each Director or Officer, or upon a change of Beneficial Ownership of any
Class B Ordinary Shares as a result of which any Person who is not an Affiliate of each Director or Officer becomes a beneficial owner
of such Ordinary Shares, such Class B Ordinary Shares shall be automatically and immediately converted into an equal number of Class A
Ordinary Shares. For the avoidance of doubt, (i) a sale, transfer, assignment or disposition shall be effective upon the Company's
registration of such sale, transfer, assignment or disposition in the Register; (ii) the creation of any pledge, charge, encumbrance or
other third-party right of whatever description on any Class B Ordinary Shares to secure any contractual or legal obligations shall not
be deemed as a sale, transfer, assignment or disposition for the purpose of this Article unless and until any such pledge, charge, encumbrance
or other third-party right is enforced and results in the third party who is not an Affiliate of each Director or Officer becoming a beneficial
owner of the relevant Class B Ordinary Shares in which case all the related Class B Ordinary Shares shall be automatically and immediately
converted into the same number of Class A Ordinary Shares, and (iii) any sale, transfer, assignment or disposition of any Class B Ordinary
Shares by a holder thereof to any Person which is an Affiliate of each Director or Officer shall not trigger the automatic conversion
of such Class B Ordinary Shares into Class A Ordinary Shares as contemplated under this Article.

&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) On the Conversion Date, every Class B Ordinary Share or Class A Ordinary Shares to be converted shall
automatically be re-designated and re-classified as an Class A Ordinary Share or Class B Ordinary Shares (as the case may be) with such
rights and restrictions attached thereto and shall rank *pari passu* in all respects with the Shares of the same class then in issue
and the Company shall enter or procure the entry of the name of the relevant holder resulting from such Conversion in, and make any other
necessary and consequential changes to, the Register and shall procure that certificates in respect of the relevant Class A Ordinary Shares
or Class B Ordinary Shares, together with a new certificate for any unconverted Class A Ordinary Shares or Class B Ordinary Shares comprised
in the certificate(s) surrendered, are issued to the holders thereof.

&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) Until such time as the Class B Ordinary Shares have been converted into Class A Ordinary Shares, the Company
shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) at all times keep available for issue and free of all liens, charges, options, mortgages, pledges, claims,
equities, encumbrances and other third-party rights of any nature, and not subject to any pre-emptive rights out of its authorised but
unissued share capital, such number of authorised but unissued Shares as would enable all Class B Ordinary Shares to be converted into
Class A Ordinary Shares and all Class A Ordinary Shares to be converted into Class B Ordinary Shares, any other rights of conversion into,
subscription for or exchange into the relevant class of Shares to be satisfied in full; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) not make any issue, grant or distribution or take any other action if the effect would be that on the
Conversion it would be required to issue Shares at a price lower than the par value thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Voting Rights

Holders of Class A Ordinary Shares and Class B Ordinary Shares have the right to receive notice of, attend, speak and vote at general meetings of the Company. Holders of Class A Ordinary Shares and Class B Ordinary Shares shall, at all times (other than in respect of separate general meetings of the holders of a class or series of shares held in accordance with Article 13 below), vote together as one class on all matters submitted to a vote for Members' consent. Each Class A Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote at general meetings of the Company, and each Class B Ordinary Share shall be entitled to twenty (20) votes on all matters subject to the vote at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Income

Holders of Shares shall be entitled to such dividends as the Directors may in their absolute discretion lawfully declare from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Capital

Holders of Class A Ordinary Shares and Class B Ordinary Shares shall be entitled a return of capital on liquidation, dissolution or winding-up of the Company (other than on a conversion, redemption or purchase of shares, or an equity financing or series of financings that do not constitute the sale of all or substantially all of the shares of the Company) on a *pari passu* basis.

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

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

**Modification Of Rights**

13. Whenever the capital of the Company is divided into different Classes (and as otherwise determined by
the Directors) the rights attached to any such Class may, subject to any rights or restrictions for the time being attached to any Class,
only be materially adversely varied or abrogated with the consent in writing of the holders of not less than two-thirds of the issued
Shares of the relevant Class, or with the sanction of a resolution passed at a separate meeting of the holders of the Shares of such Class
by a majority of two-thirds of the votes cast at such a meeting. To every such separate meeting all the provisions of these Articles relating
to general meetings of the Company or to the proceedings thereat shall, *mutatis mutandis*, apply, except that the necessary quorum
shall be one or more Persons at least holding or representing by proxy one-third in nominal or par value amount of the issued Shares of
the relevant Class (but so that if at any adjourned meeting of such holders a quorum as above defined is not present, those Shareholders
who are present shall form a quorum) and that, subject to any rights or restrictions for the time being attached to the Shares of that
Class, every Shareholder of the Class shall on a poll have one vote for each Share of the Class held by him. For the purposes of this
Article the Directors may treat all the Classes or any two or more Classes as forming one Class if they consider that all such Classes
would be affected in the same way by the proposals under consideration *,* but in any other case shall treat them as separate Classes.

14. The rights conferred upon the holders of the Shares of any Class issued with preferred or other rights
shall not, subject to any rights or restrictions for the time being attached to the Shares of that Class, be deemed to be materially adversely
varied or abrogated by, *inter alia*, the creation, allotment or issue of further Shares ranking *pari passu* with or subsequent
to them or the redemption or purchase of any Shares of any Class by the Company. The rights of the holders of Shares shall not be deemed
to be materially adversely varied by the creation or issue of Shares with preferred or other rights including, without limitation, the
creation of Shares with enhanced or weighted voting rights.

**Certificates**

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

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

17. Any two or more certificates representing Shares of any one Class held by any Member may at the Member's
request be cancelled and a single new certificate for such Shares issued in lieu on payment (if the Directors shall so require) of US$1.00
or such smaller sum as the Directors shall determine.

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

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

**Fractional Shares**

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

**Lien**

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

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

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

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

**Calls On Shares**

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

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

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

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

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

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

**Forfeiture Of Shares**

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

32. The notice shall name a further day (not earlier than the expiration of fourteen days from the date of
the notice) on or before which the payment required by the notice is to be made, and shall state that in the event of non-payment at or
before the time appointed the Shares in respect of which the call was made will be liable to be forfeited.

33. If the requirements of any such notice as aforesaid are not complied with, any Share in respect of which
the notice has been given may at any time thereafter, before the payment required by notice has been made, be forfeited by a resolution
of the Directors to that effect.

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

35. A Person whose Shares have been forfeited shall cease to be a Shareholder in respect of the forfeited
Shares, but shall, notwithstanding, remain liable to pay to the Company all moneys which at the date of forfeiture were payable by him
to the Company in respect of the Shares forfeited, but his liability shall cease if and when the Company receives payment in full of the
amount unpaid on the Shares forfeited. A certificate in writing under the hand of a Director that a Share has been duly forfeited on a
date stated in the certificate, shall be conclusive evidence of the facts in the certificate as against all Persons claiming to be entitled
to the Share.

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

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

**Transfer Of Shares**

38. The instrument of transfer of any Share shall be in any usual or common form or such other form as the
Directors may determine and be executed by or on behalf of the transferor and if in respect of a nil or partly paid up Share, or if so
required by the Directors, shall also be executed on behalf of the transferee and shall be accompanied by the certificate (if any) of
the Shares to which it relates and such other evidence as the Directors may reasonably require to show the right of the transferor to
make the transfer. The transferor shall be deemed to remain a Shareholder until the name of the transferee is entered in the Register
in respect of the relevant Shares.

39. (a) Subject to the terms of issue thereof, the Directors may determine to decline to register any
 transfer of Shares without assigning any reason therefor.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the instrument of transfer is lodged with the Company, accompanied by the certificate for the Shares to which it relates and such
other evidence as the Board may reasonably require to show the right of the transferor to make the transfer;

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

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

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

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

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

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

**Transmission Of Shares**

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

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

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

**Registration Of Empowering Instruments**

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

**Alteration Of SHARE Capital**

46. The Company may from time to time by Ordinary Resolution increase the share capital by such sum, to be
divided into Shares of such Classes and amount, as the resolution shall prescribe and with such rights, priorities and privileges annexed
thereto, as the Company in general meeting may determine.

47. The Company may by Ordinary Resolution:

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) convert all or any of its paid up Shares into stock and reconvert that stock into paid up Shares of any
denomination;

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

48. The Company may by Special Resolution reduce its share capital and any capital redemption reserve in any
manner authorised by law.

**Redemption, Purchase and Surrender Of Shares**

49. Subject to the Companies Act and these Articles, the Company may:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase its own Shares (including any redeemable Shares) on such terms and in such manner as have been
approved by the Board or by the Members by Ordinary Resolution, or are otherwise authorised by these Articles;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) accept the surrender for no consideration of any paid up Share (including any redeemable Share) on such
terms and in such manner as the Directors may determine.

50. The holder of the Shares being purchased or redeemed shall be bound to deliver up to the Company the certificate(s)
(if any) thereof. Any Share in respect of which notice of redemption has been given shall not be entitled to vote or participate in the
profits of the Company in respect of the period after the date specified as the date of redemption in the notice of redemption.

51. The redemption, purchase or surrender of any Share shall not be deemed to give rise to the redemption,
purchase or surrender of any other Share.

52. The Directors may when making payments in respect of redemption or purchase of Shares, if authorised by
the terms of issue of the Shares being redeemed or purchased or with the agreement of the holder of such Shares, make such payment either
in cash or in specie including without limitation, interests in a special purpose vehicle holding assets of the Company or holding entitlement
to the proceeds of assets held by the Company or in a liquidation structure.

**Treasury Shares**

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

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

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

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

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

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

**General Meetings**

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

58. (a) The Company may, but shall not (unless required by the Companies Act) be obliged to hold a general meeting in each year as its annual
general meeting and shall specify the meeting as such in the notices calling it. The annual general meeting shall be held at such time
and place as may be determined by the Directors.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Members' requisition is a requisition of Members of the Company holding at the date of deposit
of the requisition not less than one-third of such of the paid-up capital of the Company as at that date of the deposit carries the right
of voting at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The requisition must state the objects of the meeting and must be signed by the requisitionists and deposited
at the registered office of the Company, and may consist of several documents in like form each signed by one or more requisitionists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Directors do not within 21 days from the date of the deposit of the requisition duly proceed to
convene a general meeting to be held within a further twenty-one days, the requisitionists, or any of them representing more than one-half
of the total voting rights of all of them, may themselves convene a general meeting, but any meeting so convened shall not be held after
the expiration of three months after the expiration of the said 21 days.

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

**Notice Of General Meetings**

60. At least ten (10) calendar days' notice shall be given for any general meeting. Every notice shall
be exclusive of the day on which it is given or deemed to be given and of the day for which it is given and shall specify the place, the
day and the hour of the meeting and the general nature of the business and shall be given in the manner hereinafter mentioned or in such
other manner if any as may be prescribed by the Company, provided that a general meeting of the Company shall, whether or not the notice
specified in this Article has been given and whether or not the provisions of these Articles regarding general meetings have been complied
with, be deemed to have been duly convened if it is so agreed:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of an extraordinary general meeting by a majority in number of the Members (or their proxies)
having a right to attend and vote at the meeting, being a majority together holding not less than seventy five per cent (75%) in par value
of the Shares giving that right.

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

**Proceedings At General Meetings**

62. No business shall be transacted at any general meeting without the consent of all Shareholders entitled
to receive notice of that meeting unless notice of such business has been given in the notice convening that meeting.

63. No business shall be transacted at any general meeting unless a quorum of Members is present at the time
when the meeting proceeds to business. The holders of Shares being not less than an aggregate of one-third of all Shares in issue present
in person or by proxy and entitled to vote shall be a quorum for all purposes.

64. If within half an hour from the time appointed for the meeting a quorum is not present, the meeting, if
convened upon the requisition of Shareholders, shall be dissolved. In any other case it shall stand adjourned to the same day in the next
week, at the same time and place, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed
for the meeting the Shareholder or Shareholders present and entitled to vote shall form a quorum.

65. If the Directors wish to make this facility available for a specific general meeting or all general meetings
of the Company, participation in any general meeting of the Company may be by means of a telephone or similar communication equipment
by way of which all Persons participating in such meeting can communicate with each other and such participation shall be deemed to constitute
presence in person at the meeting.

66. The chairman, if any, of the Directors shall preside as chairman at every general meeting of the Company.

67. If there is no such chairman, or if at any general meeting he is not present within fifteen minutes after
the time appointed for holding the meeting or is unwilling to act as chairman, any Director or Person nominated by the Directors shall
preside as chairman, failing which the Shareholders present in person or by proxy shall choose any Person present to be chairman of that
meeting.

The chairman of the general meeting may with the consent of any general meeting at which a quorum is present (and shall if so directed by the meeting) adjourn a meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting, or adjourned meeting, is adjourned for fourteen days or more, notice of the adjourned meeting shall be given in the manner provided for the original meeting. Save as aforesaid, it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting.

68. The Directors may cancel or postpone any duly convened general meeting at any time prior to such meeting,
except for general meetings requisitioned by the Shareholders in accordance with these Articles, for any reason or for no reason, upon
notice in writing to Shareholders. A postponement may be for a stated period of any length or indefinitely as the Directors may determine.

69. At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands,
unless a poll is (before or on the declaration of the result of the show of hands) demanded by the chairman or one or more Shareholders
present in person or by proxy entitled to vote, and unless a poll is so demanded, a declaration by the chairman that a resolution has,
on a show of hands, been carried, or carried unanimously, or by a particular majority, or lost, and an entry to that effect in the book
of the proceedings of the Company, shall be conclusive evidence of the fact, without proof of the number or proportion of the votes recorded
in favour of, or against, that resolution.

70. If a poll is duly demanded it shall be taken in such manner as the chairman directs, and the result of
the poll shall be deemed to be the resolution of the meeting at which the poll was demanded.

71. In the case of an equality of votes, whether on a show of hands or on a poll, the chairman of the meeting
at which the show of hands takes place or at which the poll is demanded, shall be entitled to a second or casting vote.

72. All questions submitted to a meeting shall be decided by an Ordinary Resolution except where a greater
majority is required by these Articles or by the Companies Act. A poll demanded on the election of a chairman of the meeting or on a question
of adjournment shall be taken forthwith. A poll demanded on any other question shall be taken at such time as the chairman of the meeting
directs.

**Votes Of shareholders**

73. Subject to any rights and restrictions for the time being attached to any Share, on a show of hands every
Shareholder present in person and every Person representing a Shareholder by proxy (or, if a corporation or other non-natural person,
by its duly authorized representative or proxy) shall, at a general meeting or extraordinary general meeting of the Company, each have
one (1) vote for each Class A Ordinary Share and twenty (20) votes for each Class B Ordinary Share, and on a poll every Shareholder and
every Person representing a Shareholder by proxy (or, if a corporation or other non-natural person, by its duly authorized representative
or proxy) shall have one (1) vote for each Class A Ordinary Shares and twenty (20) votes for each Class B Ordinary Share of which he or
the Person represented by proxy is the holder.

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

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

76. No Shareholder shall be entitled to vote at any general meeting of the Company unless he is registered
as a Shareholder on the record date for such meeting or unless all calls, if any, or other sums presently payable by him in respect of
Shares carrying the right to vote held by him have been paid.

77. On a poll votes may be given either personally or by proxy.

78. Each Shareholder, other than a recognised clearing house (or its nominee(s)) or depositary (or its nominee(s)),
may only appoint one proxy on a show of hand and on a poll, each such proxy is under no obligation to cast all his votes in the same way.
The instrument appointing a proxy shall be in writing under the hand of the appointor or of his attorney duly authorised in writing or,
if the appointor is a corporation, either under Seal or under the hand of an Officer or attorney duly authorised. A proxy need not be
a Shareholder. On a poll a Shareholder entitled to more than one vote need not use all his votes or cast all his votes in the same way.

79. An instrument appointing a proxy may be in any usual or common form or such other form as the Directors
may approve and may be expressed to be for a particular meeting or any adjournment thereof or generally until revoked.

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where the poll is not taken forthwith but is taken not more than forty-eight (48) hours after it was demanded
be delivered at the meeting at which the poll was demanded to the chairman or to the secretary or to any director;

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

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

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

83. Votes given in accordance with the terms of an instrument of proxy, which has been deposited in accordance
with Article 80, shall be valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or of the authority
under which the proxy was executed, or the transfer of the Share in respect of which the proxy is given unless notice in writing of such
death, insanity, revocation or transfer was received by the Company at the Registered Office before the commencement of the general meeting,
or adjourned meeting at which it is sought to use the proxy.

**Corporations Acting By Representatives At Meetings**

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

**clearing houses**

85. If a clearing house (or its nominee) is a Member of the Company it may, by resolution of its directors
or other governing body or by power of attorney, authorise such person or persons as it thinks fit to act as its representative or representatives
at any general meeting of the Company or at any general meeting of any class of Members of the Company provided that, if more than one
person is so authorised, the authorisation shall specify the number and class of Shares in respect of which each such person is so authorised.
A person so authorised pursuant to this Article shall be entitled to exercise the same powers on behalf of the clearing house (or its
nominee) which he represents as that clearing house (or its nominee) could exercise if it were an individual Member holding the number
and Class of Shares specified in such authorisation.

**Directors**

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Directors may by the affirmative vote of a simple majority of the remaining Directors present and
voting at a Board meeting, appoint any person to be a Director either to fill a vacancy on the Board or as an addition to the existing
Board.

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

87. A Director may be removed from office by Ordinary Resolution of the Company, notwithstanding anything
in these Articles or in any agreement between the Company and such Director (but without prejudice to any claim for damages under such

or by the affirmative vote of a simple majority of the remaining Directors present and voting at a Board meeting. The notice of any meeting
at which a resolution to remove a Director shall be proposed or voted upon must contain a statement of the intention to remove that Director
and such notice must be served on that Director not less than ten (10) calendar days before the meeting. Such Director is entitled
to attend the meeting and be heard on the motion for his removal.

88. The Board may, from time to time, and except as required by applicable law or Designated Stock Exchange
Rules, adopt, institute, amend, modify or revoke the corporate governance policies or initiatives, which shall be intended to set forth
the policies of the Company and the Board on various corporate governance related matters as the Board shall determine by resolution from
time to time.

89. Subject to applicable law, Designated Stock Exchange Rules and the Articles, the Board may establish any
committee of the Board as it deems appropriate from time to time, and committees of the Board shall have the rights, powers and privileges
delegated to such committees by the Board from time to time.

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

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

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

**Alternate Director**

93. Any Director may in writing appoint another Person to be his alternate and, save to the extent provided
otherwise in the form of appointment, such alternate shall have authority to sign written resolutions on behalf of the appointing Director,
but shall not be authorised to sign such written resolutions where they have been signed by the appointing Director, and to act in such
Director's place at any meeting of the Directors. Every such alternate shall be entitled to attend and vote at meetings of the Directors
as the alternate of the Director appointing him and where he is a Director to have a separate vote in addition to his own vote. 
A Director may at any time in writing revoke the appointment of an alternate appointed by him. Such alternate shall not be an Officer
solely as a result of his appointment as an alternate other than in respect of such times as the alternate acts as a Director. The
remuneration of such alternate shall be payable out of the remuneration of the Director appointing him and the proportion thereof shall
be agreed between them.

**Powers And Duties Of Directors**

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

95. Subject to Article 123, the Directors may from time to time appoint any Person, whether or not a Director
to hold such office in the Company as the Directors may think necessary for the administration of the Company, including but not limited
to, chief executive officers, one or more other executive officers, the office of president, one or more vice-presidents, treasurer, assistant
treasurer, manager or controller, and for such term and at such remuneration (whether by way of salary or commission or participation
in profits or partly in one way and partly in another), and with such powers and duties as the Directors may think fit. Any Person so
appointed by the Directors may be removed by the Directors. The Directors may also appoint one or more of their number to the office of
managing director upon like terms, but any such appointment shall ipso facto terminate if any managing director ceases from any cause
to be a Director, or if the Company by Ordinary Resolution resolves that his tenure of office be terminated.

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

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

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

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

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

101. The Directors from time to time and at any time may delegate to any such committee, local board, manager
or agent any of the powers, authorities and discretions for the time being vested in the Directors and may authorise the members for the
time being of any such local board, or any of them to fill any vacancies therein and to act notwithstanding vacancies and any such appointment
or delegation may be made on such terms and subject to such conditions as the Directors may think fit and the Directors may at any time
remove any Person so appointed and may annul or vary any such delegation, but no Person dealing in good faith and without notice of any
such annulment or variation shall be affected thereby.

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

103. The Directors may agree with a Shareholder to waive or modify the terms applicable to such Shareholder's
subscription for Shares without obtaining the consent of any other Shareholder; provided that such waiver or modification does not amount
to a variation or abrogation of the rights attaching to the Shares of such other Shareholders.

**Borrowing Powers Of Directors**

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

**The Seal**

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

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

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

**Disqualification Of Directors**

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) is prohibited by any applicable Law or Designated Stock Exchange Rules from being a Director;

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

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

**Proceedings Of Directors**

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

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

111. The quorum necessary for the transaction of the business of the Directors may be fixed by the Directors,
and unless so fixed, if there be two or more Directors the quorum shall be two, and if there be one Director the quorum shall be one.
A Director represented by an alternate Director at any meeting shall be deemed to be present for the purposes of determining whether or
not a quorum is present.

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

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

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

115. The Directors shall cause minutes to be made in books or loose-leaf folders provided for the purpose of
recording:

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

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

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

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

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

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

119. The Directors may elect a chairman of their meetings and determine the period for which he is to hold
office but if no such chairman is elected, or if at any meeting the chairman is not present within fifteen minutes after the time appointed
for holding the meeting, or if the Chairman is unable to or unwilling to act as the chairman, the Directors present may choose one of
their number to be chairman of the meeting.

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

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

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

**presumption of assent**

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

**Dividends**

124. Subject to any rights and restrictions for the time being attached to any Shares, or as otherwise provided
for in the Companies Act and these Articles, the Directors may from time to time declare dividends (including interim dividends) and other
distributions on Shares in issue and authorise payment of the same out of the funds of the Company lawfully available therefor.

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

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

127. Any dividend may be paid in any manner as the Directors may determine. If paid by cheque it will be sent
through the post to the registered address of the Shareholder or Person entitled thereto, or in the case of joint holders, to any one
of such joint holders at his registered address or to such Person and such address as the Shareholder or Person entitled, or such joint
holders as the case may be, may direct. Every such cheque shall be made payable to the order of the Person to whom it is sent or to the
order of such other Person as the Shareholder or Person entitled, or such joint holders as the case may be, may direct.

128. The Directors when paying dividends to the Shareholders in accordance with the foregoing provisions of
these Articles may make such payment either in cash or in specie and may determine the extent to which amounts may be withheld therefrom
(including, without limitation, any taxes, fees, expenses or other liabilities for which a Shareholder (or the Company, as a result of
any action or inaction of the Shareholder) is liable).

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

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

131. No dividend shall bear interest against the Company.

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

**Accounts, Audit and annual return and declaration**

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

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

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

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

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

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

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

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

**Capitalisation Of reserves**

141. Subject to the Companies Act and these Articles, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve to capitalise an amount standing to the credit of reserves (including a Share Premium Account,
capital redemption reserve and profit and loss account), whether or not available for distribution;

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

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

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

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

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) generally do all acts and things required to give effect to any of the actions contemplated by this Article.

142. Notwithstanding any provisions in these Articles, the Directors may resolve to capitalise any sum standing
to the credit of any of the Company's reserve accounts or funds (including the Share Premium Account and capital redemption reserve
fund) or any sum standing to the credit of the profit and loss account or otherwise available for distribution by applying such sum in
paying up in full unissued Shares to be allotted and issued to:

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

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

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

**Share Premium Account**

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

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

**Notices**

145. Except as otherwise provided in these Articles, any notice or document may be served by the Company or
by the Person entitled to give notice to any Shareholder either personally, or by posting it airmail or air courier service in a prepaid
letter addressed to such Shareholder at his address as appearing in the Register, or by electronic mail to any electronic mail address
such Shareholder may have specified in writing for the purpose of such service of notices, or by facsimile or by placing it on the Company's
Website should the Directors deem it appropriate provided that the Company shall notify the Shareholders of the placement of such notice
by any of the means set out above. In the case of joint holders of a Share, all notices shall be given to that one of the joint holders
whose name stands first in the Register in respect of the joint holding, and notice so given shall be sufficient notice to all the joint
holders.

146. Notices posted to addresses outside the Cayman Islands shall be forwarded by prepaid airmail.

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

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) electronic mail, shall be deemed to have been served immediately upon the time of the transmission by
electronic mail.

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

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

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

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

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

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

**Information**

151. No Member shall be entitled to require discovery of any information in respect of any detail of the Company's
trading or any information which is or may be in the nature of a trade secret or secret process which may relate to the conduct of the
business of the Company and which in the opinion of the Board would not be in the interests of the Members of the Company to communicate
to the public.

152. The Board shall be entitled to release or disclose any information in its possession, custody or control
regarding the Company or its affairs to any of its Members including, without limitation, information contained in the Register and transfer
books of the Company.

**Indemnity**

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

154. No Indemnified Person shall be liable:

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

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

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

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

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

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

unless the same shall happen through such Indemnified Person's own dishonesty, wilful default or fraud as determined by a court of competent jurisdiction.

**Financial Year**

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

**Non-Recognition Of Trusts**

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

**Winding Up**

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

158. If the Company shall be wound up, and the assets available for distribution amongst the Members shall
be insufficient to repay the whole of the share capital, such assets shall be distributed so that, as nearly as may be, the losses shall
be borne by the Members in proportion to the par value of the Shares held by them. If in a winding up the assets available for distribution
amongst the Members shall be more than sufficient to repay the whole of the share capital at the commencement of the winding up, the surplus
shall be distributed amongst the Members in accordance with Article 10 and in proportion to the par value of the Shares held by them at
the commencement of the winding up subject to a deduction from those Shares in respect of which there are monies due, of all monies payable
to the Company for unpaid calls or otherwise. This Article is without prejudice to the rights of the holders of Shares issued upon special
terms and conditions.

**Amendment Of Articles Of Association**

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

**Closing of register or fixing record date**

160. For the purpose of determining those Shareholders that are entitled to receive notice of, attend or vote
at any meeting of Shareholders or any adjournment thereof, or those Shareholders that are entitled to receive payment of any dividend,
or in order to make a determination as to who is a Shareholder for any other purpose, the Directors may provide that the Register shall
be closed for transfers for a stated period which shall not exceed in any case 30 days. If the Register shall be so closed for the purpose
of determining those Shareholders that are entitled to receive notice of, attend or vote at a meeting of Shareholders the Register shall
be so closed for at least ten days immediately preceding such meeting and the record date for such determination shall be the date of
the closure of the Register.

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

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

**Registration By Way Of Continuation**

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

**disclosure**

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

## Exhibit 99.1

**Exhibit 99.1**

**CNFinance Announces the Results of its Extraordinary General Meeting**

GUANGZHOU, China, December 10, 2025 /PRNewswire/ -- CNFinance Holdings Limited (NYSE: CNF) ("**CNFinance**" or the "**Company**"), a leading home equity loan service provider in China, today announced the results of its extraordinary general meeting of shareholders held at 22nd Floor, South Finance Building, Chunrong 3rd Road, Yuancun Street, Tianhe District, Guangzhou City, Guangdong Province, People's Republic of China at 10:00 AM (Hong Kong time) on December 10, 2025.

At the extraordinary general meeting, each of the following resolutions submitted for shareholder approval was adopted, and after the adoption of the proposed resolutions, all corporate authorizations and actions contemplated thereunder were approved:

1. As an ordinary resolution that the Company shall adopt a dual-class shareholding structure by amending
the authorised share capital of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;(a) FROM: US$380,000 divided into 3,800,000,000 Ordinary Shares of a nominal or par value of US$0.0001 each

&nbsp;&nbsp;&nbsp;&nbsp;(b) TO: US$2,000,000 divided into 18,000,000,000 Class A Ordinary Shares of a nominal or par value of US$0.0001
each and 2,000,000,000 Class B Ordinary Shares of a nominal or par value of US$0.0001 each, by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the re-designation and reclassification of 1,559,576,960 authorised issued Ordinary Shares of a nominal
or par value of US$0.0001 each into 1,559,576,960 Class A Ordinary Shares of a nominal or par value of US$0.0001 each in the capital of
the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the re-designation and reclassification of 2,240,423,040 authorised and unissued Ordinary Shares into
2,240,423,040 Class A Ordinary shares of a nominal or par value of US$0.0001 each in the capital of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the increase in the authorised share capital of the Company by the creation of 14,200,000,000 authorised
but unissued Class A Ordinary Shares of a nominal or par value of US$0.0001 each in the capital of the Company and 2,000,000,000 authorised
but unissued Class B Ordinary Shares of a nominal or par value of US$0.0001 each in the capital of the Company.

2. As a special resolution that the existing second amended and restated memorandum and articles of association
of the Company be replaced in their entirety with a new third amended and restated memorandum and articles of association.

3. As an ordinary resolution that, any director of the Company (the "Director") be authorized
to take any and all actions that might be necessary to effect the foregoing resolutions as such Director, in his or her absolute discretion,
thinks fit.

**Safe Harbor Statement**

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "confident" and similar statements. The Company may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: its goals and strategies, its ability to achieve and maintain profitability, its ability to retain existing borrowers and attract new borrowers, its ability to maintain and enhance the relationship and business collaboration with its trust company partners and to secure sufficient funding from them, the effectiveness of its risk assessment process and risk management system, its ability to maintain low delinquency ratios for loans it originated, fluctuations in general economic and business conditions in China, and relevant government laws, regulations, rules, policies or guidelines relating to the Company's corporate structure, business and industry. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update such information, except as required under applicable law.

**About CNFinance Holdings Limited**

CNFinance Holdings Limited (NYSE: CNF) ("**CNFinance**" or the "**Company**") is a leading home equity loan service provider in China. CNFinance, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and sales partners, local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise ("**MSE**") owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks who will then conduct their own risk assessments and make credit decisions. The Company's primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China. The Company's risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.

**For more information, please contact:**

CNFinance

E-mail: ir@cashchina.cn