Document:

Registration Rights Agreement

 Exhibit 4.4 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”)
is made as of November 20, 2006, by and among (i) Simcere Pharmaceutical Group, an exempted company incorporated and validly existing with limited liability under the laws of the Cayman Islands (the “Company”),
(ii) New Good Management Limited, an exempted company incorporated and validly existing with limited liability under the laws of the British Virgin Islands (“NGM”) and (iii) Assure Ahead Investments Limited (the
“Investor”, collectively with NGM, the “Shareholders”). 
 RECITALS 
 A. The Investor holds Ordinary Shares comprising 31% of the aggregate number of Shares issued by the Company and NGM would hold Ordinary Shares
comprising 69% of the aggregate number of Shares issued by the Company; and 
 B. The Shareholders and the Company agree that, if the Company
applies for the listing of the Shares on any stock exchange in the United States of America, the Company shall enter into this registration rights agreement to set forth certain terms and conditions concerning the Investor’s registration
rights, as more precisely described herein. 
 NOW THEREFORE, in consideration of the foregoing and the mutual promises, covenants and
agreements of the Parties contained herein, the Parties agree as follows: 
 1. Certain Definitions. As used in this Agreement, the
following terms have the following respective meanings: 
 “Affiliate” means, with respect to any Person, any
other Person directly or indirectly controlling, controlled by, or under common control with such Person (including any Subsidiary) and “Affiliates” shall have correlative meaning. For the purpose of this definition, the term
“control” (including with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as used with respect to any Person, shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or by contract or otherwise. 
 “Agreement” has the meaning set forth in the preamble to this Agreement. 
 “Blue Sky” means the statutes of any state regulating the sale of corporate securities within that state. 
 “Board” means the board of directors of the Company. 
 “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized to
be closed in either the PRC or the Hong Kong Special Administrative Region. 
 “Commission” means the United
States Securities and Exchange Commission. 
  

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 “Company” has the meaning set forth in the preamble to this Agreement.

 “Demand Registration” has the meaning set forth in Section 3.1 of this Agreement. 
 “Damages” has the meaning set forth in Section 8.1 of this Agreement. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission promulgated thereunder, all as from time to time in effect. 
 “NGM” has the meaning set forth in
the preamble to this Agreement. 
 “Form F-3” means such form under the Securities Act as in effect on the
date hereof or any successor registration form under the Securities Act subsequently adopted by the Commission which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the
Commission. 
 “Governmental or Regulatory Authority” means any applicable State, federal provincial, county
and local court, tribunal, arbitrator, authority, agency, commission, official or other instrumentality of any jurisdiction in which a Person conducts business or operations. 
 “Holder” means the Investor and any other holder of Registrable Securities (including any Permitted Transferees of any
Investor) entitled to the rights, and bound by the obligations under this Agreement, in accordance with Section 6.1. 
 “Initial Public Offering” means the first Public Offering of Equity Securities of a Person upon the consummation of which such securities are listed on an internationally recognized securities exchange. 
 “Initiating Holder” has the meaning set forth in Section 3.1 of this Agreement. 
 “Investor” has the meaning set forth in the preamble to this Agreement. 
 “NASD” shall mean the National Association of Securities Dealers, Inc. 
 “Ordinary Shares” means the ordinary share of the Company. 
 “Parties” means collectively the Company, NGM, the Investor and any Person who becomes a party to this Agreement. Each of
the Parties shall be referred to as a “Party”. 
 “Permitted Transferee” means with respect
to any Person, (i) such Person’s Affiliates, (ii) any investment funds managed by such Person’s Affiliates or any Subsidiary of such Person or, (iii) any Affiliate or Subsidiary of such Person’s parent entity.

  

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 “Person” means any natural person, corporation, limited liability
company, general partnership, limited partnership, proprietorship, other business organization, trust, union, association or Governmental or Regulatory Authority. 
 “PRC” or “China” means the People’s Republic of China, but solely for the purposes of this
Agreement excluding the Hong Kong Special Administrative Region, Macau Special Administrative Region and the island of Taiwan. 
 “Prospectus” shall mean the prospectus included in a Registration Statement, including any preliminary Prospectus, any free-writing Prospectus, and any such Prospectus as amended or supplemented by any prospectus supplement
with respect to the terms of the offering of any portion of the Registrable Securities and by all other amendments and supplements to such Prospectus, including post-effective amendments, and in each case including all material incorporated by
reference therein. 
 “Public Offering” means, in the case of an offering in the United States, an
underwritten public offering of Equity Securities of a Person pursuant to an effective registration statement under the U.S. Securities Act of 1933, as amended, and, in the case of an offering in any other jurisdiction, a widely distributed
underwritten offering of Equity Securities of a Person in which both retail and institutional investors are eligible to buy in accordance with the securities laws of such jurisdiction. 
 “Qualified IPO” means an Initial Public Offering of Ordinary Shares which satisfies the following requirements:
(i) an underwritten Initial Public Offering on the main board of one or more of the following internationally recognized exchanges: the New York Stock Exchange, the NASDAQ National Market, the Hong Kong Stock Exchange, the Frankfurt Stock
Exchange and the London Stock Exchange; (ii) the public float following such an offering shall equal or exceed 20% of the proposed market capitalization of the Company; (iii) Ordinary Shares of the Company shall be widely distributed and
meet all requirements of the relevant exchanges; and (iv) the offering size of the Initial Public Offering is at least US$100 million. 
 “Registration” means a registration effected by preparing and filing a Registration Statement and the declaration or ordering of the effectiveness of that Registration Statement, and the terms
“Register” and “Registered” have meanings correlative with the foregoing. 
 “Registrable Securities” means (i) Ordinary Shares issued and allotted to a Holder, (ii) Ordinary Shares or any other securities of the Company issued as a dividend or other distribution with respect to, or in
exchange for, or in replacement of, the Ordinary Shares of a Holder, and (iii) all other Ordinary Shares which may be from time to time acquired by a Holder after the date hereof. 
 “Registration Expenses” means all expenses, other than underwriting discounts and commissions, incurred by the Company in
complying with Sections 3 or 4 of this Agreement, including, without limitation, all Registration, qualification, and filing fees, printing expenses, fees and disbursements of counsels for the Company, reasonable fees and disbursements of one
special counsel for all Holders (if different from counsels to the Company), Blue Sky fees and expenses, and the expense of any special audits incident to or required by any Registration. 
  

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 “Registration Statement” means a registration statement prepared on
Forms S-1, S-2, S-3, F-1, F-2 or F-3 under the Securities Act, or on any comparable form in connection with registration in a jurisdiction other than the United States. 
 “Securities Act” means the United States Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder, all as from time to time in effect. 
 “Selling Expenses” means all
underwriting discounts and selling commissions applicable to the sale of Registrable Securities pursuant to this Agreement. 
 “Shareholders” has the meaning set forth in the preamble to this Agreement. 
 “Shares” means the Ordinary Shares. 
 “Underwriters’ Representative” has the
meaning set forth in Section 3.5(b) of this Agreement. 
 2. Registration Rights; Applicability of Rights. The Holders shall be
entitled to the following rights with respect to any potential public offering of Ordinary Shares in the United States. 
 3.
Demand Registration. 
 3.1. Request for Registration on Form Other Than Form F-3. On and after the earlier of (i) the second
anniversary of the date of this Agreement or (ii) six (6) months after the Registration Statement with respect to the Company’s Initial Public Offering filed by the Company becomes effective, if the Company receives from the Investor
(referred to as the “Initiating Holder”) a request in writing that the Company effect any Registration with respect to at least 30% of the Registrable Securities then outstanding on a form other than Form F-3, including without
limitation for the purposes of effecting an Initial Public Offering of securities of the Company, subject to the terms of this Agreement, the Company shall (i) within ten (10) days of receipt of such written request, give written notice of
the proposed Registration to all other Holders, and (ii) as soon as practicable, use its best efforts to effect Registration of those Registrable Securities (“Demand Registration”) which the Company has been so requested to
register, together with all other Registrable Securities which the Company has been requested to register by holders thereof by written request given to the Company within twenty (20) days after receiving written notice from the Company,
subject to limitations of this Section 3. The Company shall not be obligated to take any action to effect any Registration pursuant to this Section 3.1 (x) after the Company has effected two (2) Registrations pursuant to this
Section 3.1 and such Registrations have been declared or ordered effective (and has not been subject to a “stop order” or otherwise withdrawn); (y) after the Company has effected one Registration pursuant to this Section 3.1
during any nine (9)-month period; or (z) if the Initiating Holder proposes to dispose of shares of Registrable Securities that may be immediately Registered on Form F-3 pursuant to a request made pursuant to Section 3.2. The substantive
provisions of Section 3.5 shall be applicable to the Registration initiated under this Section 3.1. 
  

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 3.2. Request for Registration on Form F-3. If any Holder requests in writing that the Company file
a Registration Statement on Form F-3 (or any comparable form for a Registration in a jurisdiction other than the United States) for a public offering of shares of Registrable Securities, the reasonably anticipated aggregate price to the public of
which would not be less than Twenty Million U.S. Dollars (US$20,000,000), and the Company is a registrant entitled to use Form F-3 (or any comparable form for a Registration for an offering in a jurisdiction other than the United States) to register
the Registrable Securities, the Company shall (i) within ten (10) days of receipt of such written request, give written notice of the proposed Registration to all other Holders, and (ii) use its best efforts to cause those Registrable
Securities which the Company has been so requested to be Registered, together with all other Registrable Securities which the Company has been requested to Register by holders thereof by written request given to the Company within twenty
(20) days after written notice from the Company, for the offering on that form and to cause those Registrable Securities to be qualified in jurisdictions as the Holder or Holders may reasonably request, subject to limitations of this
Section 3. The substantive provisions of Section 3.5 shall be applicable to each Registration initiated under this Section 3.2. 
 3.3. Right of Deferral. Notwithstanding the foregoing, the Company shall not be obligated to file a Registration Statement pursuant to this Section 3: 
  

	 	(a)	within one hundred eighty (180) days after the effective date of any Registration Statement pertaining to the securities of the Company (other than a registration of securities
in a Rule 145 transaction or with respect to an employee benefit plan); or 

  

	 	(b)	if the Company furnishes to those Holders a certificate signed by the chief executive officer or chairman of the board of the Company stating that in the good faith judgment of the
Board it would be seriously detrimental to the Company or its shareholders for a Registration Statement to be filed in the near future, then the Company’s obligation to use its best efforts to file a Registration Statement shall be deferred for
a period not to exceed ninety (90) days from the receipt of the request to file the registration by that Holder; provided, that the Company shall not exercise the right to delay a request contained in this Section 3.3(b) more than
twice in any twelve (12)-month period, and provided further, that during such one hundred and twenty (120)-day period, the Company shall not file a Registration Statement with respect to any public offering of securities of the Company.

 3.4. Registration of Other Securities in Demand Registration. Any Registration Statement filed pursuant to the
request of the Holders under this Section 3 may, subject to the provisions of Section 3.5, include securities of the Company other than Registrable Securities. If the Company, officers or directors of the Company holding securities other
than the Registrable Securities, or holders of securities other than the Registrable Securities, request inclusion of other securities of the Company held thereby in the Registration, the Initiating Holders, to the extent they deem advisable, may,
in their sole discretion, on behalf of all Holders, offer to any or all of the Company, those officers or directors, and the holders of securities other than the Registrable Securities, that their securities be included in the underwriting and may
condition that offer on the 

  

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acceptance by those Persons of the terms of this Section 3. If, however, the number of shares so included exceeds the number of shares of Registrable
Securities included by all Holders, the Registration shall be treated as governed by Section 4 of this Agreement rather than this Section 3, and it shall not count as a Registration for purposes of this Section 3. 
 3.5. Underwriting in Demand Registration. 
  

	 	(a)	Notice of Underwriting. If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise
the Company as a part of their request made pursuant to this Section 3, and the Company shall include that information in the written notice referred to in Section 3.1 or 3.2 of this Agreement, as applicable. The right of any Holder to
Registration pursuant to this Section 3 shall be conditioned upon such Holder’s agreement to participate in the underwriting and the inclusion of that Holder’s Registrable Securities in the underwriting to the extent provided herein.

  

	 	(b)	Selection of underwriter in Demand Registration. The Company shall (together with all Holders proposing to distribute their securities through the underwriting) enter into an
underwriting agreement in customary form with the underwriter or, if more than one, the lead underwriter acting as the representative of the underwriters (the “Underwriters’ Representative”) selected for the underwriting by the
Company in the proposed offering. 

  

	 	(c)	 Marketing Limitation in Demand Registration. Notwithstanding any other provision of this Section 3, in the event the Underwriters’ Representative
advises the Company in writing that market factors (including, without limitation, the aggregate number of Ordinary Shares requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell securities
pursuant to the Registration) require a limitation of the number of shares to be underwritten, then the Company shall so advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares of
Registrable Securities that may be included in the Registration and underwriting shall be allocated among all Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities held by all such selling Holders
(including the Initiating Holders) at the time of filing the Registration Statement, provided, however, that the number of shares of Registrable Securities to be included in any such underwriting held by Holders shall not be reduced unless
all other securities of the Company are first entirely excluded from the underwriting. For purposes of the preceding sentence concerning apportionment, for any selling Holder of Registrable Securities that is a venture capital fund, partnership or
corporation, the affiliated venture capital funds, partners, retired partners and shareholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons
shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of Registrable Securities owned by all such related 

  

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entities and individuals. In no event shall the number of the Registrable Securities included in any such underwriting be reduced to less than thirty
(30%) of the numbers of the Registrable Securities requested to be included. Any Registrable Securities or other securities excluded from the underwriting by reason of this Section 3.5(c) shall be withdrawn from the Registration. To
facilitate the allocation of shares in accordance with the foregoing, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. 

  

	 	(d)	Right of Withdrawal in Demand Registration. If any Holder of Registrable Securities disapproves of the terms of the underwriting, such Holder may elect to withdraw therefrom
by written notice to the Company and the Underwriters’ Representative proposing to distribute their securities through the underwriting, delivered at least twenty (20) days prior to the effective date of the Registration Statement. The
securities so withdrawn shall also be withdrawn from the Registration Statement. 

 3.6. Other Securities Laws in Demand
Registration. In the event of any Registration pursuant to this Section 3, the Company shall exercise its best efforts to register and qualify the securities covered by the Registration Statement under the securities laws of any other
jurisdictions as shall be reasonably appropriate for the distribution of the securities, except for any particular jurisdiction (other than the United States or any jurisdiction on which the Registrable Securities are being proposed to be listed) in
which the Company would be required solely as a result of such Registration to execute a general consent to service of process in effecting such Registration, qualification, or compliance, unless the Company is already subject to service in such
jurisdiction. 
 4. Unlimited Piggyback Registration. 
 4.1. Notice of Piggyback Registration and Inclusion of Registrable Securities. Subject to the terms of this Agreement, if the Company decides to register any of its Ordinary Shares (either for its own account,
for the account of a security holder or both), the Company shall (a) promptly give each Holder written notice thereof (which shall include a list of the jurisdictions in which the Company intends to attempt to qualify those securities under the
applicable Blue Sky or other securities laws), and (b) include in that Registration (and any related qualification under Blue Sky laws or other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a
written request delivered to the Company by any Holder within twenty (20) days after delivery of the written notice from the Company. 
 4.2. Underwriting in Piggyback Registration. 
  

	 	(a)	 Notice of Underwriting in Piggyback Registration. If the Registration of which the Company gives notice is for a Registered Public Offering, the Company
shall so advise the Holders as a part of the written notice given pursuant to Section 4.1. In this event, the right of any Holder to Registration shall be conditioned upon such Holder’s agreement to participate in the underwriting and the
inclusion of that Holder’s Registrable Securities in the underwriting, to the extent provided in this Section 4. All Holders proposing to distribute their securities through such 

  

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underwriting shall (together with the Company and the other holders distributing their securities through the underwriting) enter into an underwriting
agreement in customary form with the Underwriters’ Representative for such offering. The Holders shall have no right to participate in the selection of the underwriters for an offering pursuant to this Section 4.

  

	 	(b)	Marketing Limitation in Piggyback Registration. In the event the Underwriters’ Representative advises the Holders seeking Registration of Registrable Securities pursuant
to this Section 4 in writing that market factors (including, without limitation, the aggregate number of Ordinary Shares requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell securities
pursuant to the Registration) require a limitation of the number of shares to be underwritten, the Underwriters’ Representative (subject to the allocation priority set forth in Section 4.2(c)) may: 

  

	 	(i)	in the case of a Registered Initial Public Offering, exclude some or all Registrable Securities from the Registration and underwriting; and 

  

	 	(ii)	in the case of any Registered Public Offering subsequent to the Initial Public Offering, limit the number of shares of Registrable Securities to be included in the Registration and
underwriting, to not less than thirty (30%) of the securities included in the Registration. 

  

	 	(c)	 Allocation of Shares in Piggyback Registration. In the event that the Underwriters’ Representative limits the number of shares to be included in a
Registration pursuant to Section 4.2(b), the number of Registrable Securities to be included in the Registration shall be allocated, first, to the Company; second, to all Holders requesting inclusion of their respective
Registrable Securities in such Registration Statement on a pro rata basis based on the number of Registrable Securities held by all such selling Holders at the time of filing the Registration Statement; and third, to any other shareholders of
the Company requesting inclusion of their shares in the Registration, provided, however, that the number of Registrable Securities to be included in any such underwriting held by the Holders shall not be reduced unless all shares that are not
Registrable Securities are first entirely excluded from the underwriting. For purposes of the preceding sentence concerning apportionment, for any selling Holder of Registrable Securities that is a venture capital fund, partnership or corporation,
the affiliated venture capital funds, partners, retired partners and shareholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons shall be
deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate amount of Registrable Securities owned by all such related entities and individuals. For
any Registration subsequent to an Initial Public Offering, the number of shares that may be included in the Registration and 

  

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underwriting under this Section 4.2(c) shall not be reduced to less than thirty (30%) of the aggregate securities included in the Registration. No
Registrable Securities or other securities excluded from the underwriting by reason of this Section 4.2(c) shall be included in the Registration Statement. 

  

	 	(d)	Withdrawal in Piggyback Registration. If any Holder disapproves of the terms of any underwriting, such Holder may elect to withdraw therefrom by written notice to the Company
and the Underwriters’ Representative delivered at least twenty (20) days prior to the effective date of the Registration Statement. Any Registrable Securities or other securities excluded or withdrawn from the underwriting shall be
withdrawn from the Registration. 

  

	 	(e)	Right to Terminate Registration. The Company shall have the right to terminate or withdraw any Registration initiated by it under this Section 4 prior to the
effectiveness of such Registration whether or not any Holder has elected to include securities in such registration. The Registration Expenses of such withdrawn Registration shall be borne by the Company in accordance with Section 5 hereof.

 5. Expenses of Registration. All Registration Expenses incurred in connection with each of the Registrations pursuant
to Section 3.1 and unlimited Registrations pursuant to Sections 3.2 and 4, shall be borne by the Company provided, however, that the Company shall not be required to pay for any Registration Expenses of any Registration if
the Registration request is subsequently withdrawn at the request of the Holders pursuant to Section 3.5(d) of this Agreement (in which case all selling Holders shall bear such expenses pro rata upon the number of Registrable Securities that
were to be included in the withdrawn Registration). All Selling Expenses shall be borne by the holders of the securities Registered pro rata on the basis of the number of securities so Registered. 
 6. Assignability of Registration Rights; Termination of Registration Rights; Limitation on Subsequent Registration Rights 
 6.1. Assignability of Registration Rights. The rights to cause the Company to Register securities granted under Section 3 and 4 of this
Agreement shall be assignable by an Investor to any Investor or any Permitted Transferee of such Investor. No other party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the written consent of
the Company and the Investor. 
 6.2. Termination of Registration Rights. The rights to cause the Company to Register securities
granted under Sections 3 and 4 of this Agreement and to receive notices pursuant to Section 3 of this Agreement, shall terminate, with respect to each Holder, on date three (3) years after the closing of a Qualified IPO. 
 6.3. Subsequent Registration Rights. After the date of this Agreement, the Company shall not, without the prior written consent of
the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder registration rights. 
  

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 7. Registration Procedures and Obligations. Whenever required under this Agreement to effect the
Registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
  

	 	(a)	(i) prepare and file a Registration Statement with the Commission which (x) shall be on Form F-1 or Form F-3 (or any successors to such forms), if available,
(y) shall be available for the sale or exchange of the Registrable Securities in accordance with the intended method or methods of distribution by the selling Holders thereof, and (z) shall comply as to form with the requirements of the
applicable form and include all financial statements required by the Commission to be filed therewith and all other information reasonably requested by the Underwriters’ Representative to be included therein, (ii) use its reasonable
efforts to cause such Registration Statement to become effective and remain effective for up to 120 days or, if earlier, until the Holder or Holders have completed the distribution thereto, (iii) use best efforts not to take any action that
would cause a Registration Statement to contain a material misstatement or omission or to be not effective and usable for resale of the Registrable Securities during the period that such Registration Statement is required to be effective and usable,
and (iv) cause each Registration Statement and the related Prospectus and any amendment or supplement thereto, as of the effective date of such Registration Statement, amendment or supplement (x) to comply in all material respects with any
requirements of the Securities Act and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;

  

	 	(b)	subject to Section 7(a), prepare and file with the Commission such amendments and post-effective amendments to each such Registration Statement, as may be necessary to keep
such Registration Statement effective for the applicable period; cause each such Prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act; and comply with
the provisions of the Securities Act with respect to the disposition of all securities covered by each Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the selling Holders
thereof, as set forth in such registration statement; 

  

	 	(c)	 furnish to each Holder for which the Registrable Securities are being registered and to each underwriter of an underwritten offering of the Registrable Securities,
if any, without charge, as many copies of each Prospectus, including, without limitation, each preliminary Prospectus, each free-writing Prospectus and any amendment or supplement thereto and such other documents as such Holder or underwriter may
reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities; the Company hereby consents to the use of the Prospectus, including, without limitation, each preliminary Prospectus and each free-writing
Prospectus, by each Holder for which the Registrable 

  

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Securities are being registered and each underwriter of an underwritten offering of the Registrable Securities, if any, in connection with the offering and
sale of the Registrable Securities covered by the Prospectus or the preliminary Prospectus or the free-writing Prospectus, as applicable; 

  

	 	(d)	(i) use its reasonable efforts to register or qualify the Registrable Securities, no later than the time the applicable Registration Statement is declared effective by the
Commission, under all applicable state securities or Blue Sky laws of such jurisdictions as each underwriter, if any, or any Holder having Registrable Securities covered by a Registration Statement, shall reasonably request; (ii) use its best
efforts to keep each such registration or qualification effective during the period such Registration Statement is required to be kept effective; and (iii) do any and all other acts and things which may be reasonably necessary or advisable to
enable each such underwriter, if any, and any such Holder to consummate the disposition in each such jurisdiction of such Registrable Securities the registration of which such Holder is requesting; provided, however, that the Company
shall not be obligated to qualify to do business or to a file a general consent to service of process in any such state or jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the
Securities Act or the listing rules of the relevant stock exchange on which the Registrable Securities are being proposed to be listed; 

  

	 	(e)	notify each Holder for which the Registrable Securities are being registered promptly, and, if requested by such Holder, confirm such advice in writing, (i) when a Registration
Statement has become effective and when any post-effective amendments and supplements thereto become effective, (ii) of the issuance by the Commission or any state securities authority of any stop order, injunction or other order or requirement
suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, (iii) if, between the effective date of a Registration Statement and the closing of any sale of securities covered thereby pursuant
to any agreement to which the Company is a party, the representations and warranties of the Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the
suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period a Registration Statement is effective as a
result of which such Registration Statement or the related Prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading;

	 	(f)	furnish counsels for each such underwriter, if any, and for the Holders for which the Registrable Securities are being registered, copies of any request by the Commission or any
state securities authority for amendments or supplements to a Registration Statement and Prospectus or for additional information; 

  

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	 	(g)	use its reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the earliest possible time; 

  

	 	(h)	upon request, furnish to the Underwriters’ Representative of a Public Offering of the Registrable Securities, if any, without charge, at least one signed copy of each
Registration Statement and any post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits; and furnish to each Holder for which the Registrable Securities are
being registered, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without documents incorporated therein by reference or exhibits thereto, unless requested);

  

	 	(i)	cooperate with the selling Holders of the Registrable Securities and the Underwriters’ Representative of a Public Offering of the Registrable Securities, if any, to facilitate
the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations (consistent with the provisions of the
governing documents thereof) and registered in such names as the selling Holders or the Underwriters’ Representative of a Public Offering of the Registrable Securities, if any, may reasonably request at least seven (7) days prior to any
sale of the Registrable Securities; 

  

	 	(j)	upon the occurrence of any event contemplated by paragraph (e)(iv) of this Section, use best efforts to prepare a supplement or post-effective amendment to a Registration Statement
or the related Prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

  

	 	(k)	enter into customary agreements (including, in the case of a Public Offering, underwriting agreements in customary form, and including provisions with respect to indemnification and
contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions in order to expedite or facilitate the disposition of such
Registrable Securities and in connection therewith: 

  

	 	(i)	make such representations and warranties to the selling Holders of such Registrable Securities and the underwriters, if any, in form, substance and scope as are customarily made by
issuers to underwriters in similar underwritten offerings; 

  

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	 	(ii)	obtain opinions of counsels to the Company and updates thereof (which counsels and opinions (in form, scope and substance) shall be reasonably satisfactory to the Underwriters’
Representative, if any, and the majority Holders of the Registrable Securities being sold) addressed to each selling Holder and the underwriters, if any, covering the matters customarily covered in opinions requested in similar underwritten
offerings and such other matters as may be reasonably requested by such Holders and underwriters; 

  

	 	(iii)	obtain “comfort” letters and updates thereof from the Company’s independent certified public accountants addressed to the selling Holders of the Registrable
Securities, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type customarily covered in “comfort” letters to underwriters in connection with firm commitment underwritten
offerings; 

  

	 	(iv)	to the extent requested and customary for the relevant transaction, enter into a securities sales agreement with the selling Holders providing for, among other things, the
appointment of such representative as agent for the selling Holders for the purpose of soliciting purchases of the Registrable Securities, which agreement shall be customary in form, substance and scope and shall contain customary representations,
warranties and covenants; and 

  

	 	(v)	deliver such customary documents and certificates as may be reasonably requested by the majority Holders of the Registrable Securities being sold or by the Underwriters’
Representative, if any. 

 The above shall be done (i) at the effectiveness of such Registration Statement (and each
post-effective amendment thereto) in connection with any registration, and (ii) at each closing under any underwriting or similar agreement as and to the extent required thereunder; 
  

	 	(l)	make available for inspection by representatives of the selling Holders of the Registrable Securities and any underwriters participating in any disposition pursuant to a
Registration Statement and any counsel or accountant retained by such Holders or underwriters, all relevant financial and other records, pertinent corporate documents and properties of the Company and cause the respective officers, directors and
employees of the Company to supply all information reasonably requested by any such representative, underwriter, counsel or accountant in connection with a Registration Statement; 

  

	 	(m)	 (i) within a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment to a Registration Statement or amendment or supplement
to a Prospectus, provide copies of such document to the selling Holders of the Registrable Securities and to counsel to such Holders and to the underwriter or underwriters of a Public Offering of the 

  

 13 

 
Registrable Securities, if any; fairly consider such reasonable changes in any such document prior to or after the filing thereof as the counsel to the
Holders or the underwriter or the underwriters may request and not file any such document in a form to which the majority Holders of the Registrable Securities being registered or any underwriter shall reasonably object; and make such of the
representatives of the Company as shall be reasonably requested by the Holders for which the Registrable Securities are being registered or any underwriter available for discussion of such document; (ii) within a reasonable time prior to the
filing of any document which is to be incorporated by reference into a Registration Statement or a Prospectus, provide copies of such document to counsel for the selling Holders; fairly consider such reasonable changes in such document prior to or
after the filing thereof as counsel for such Holders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document; 
  

	 	(n)	cause all Registrable Securities to be qualified for inclusion in or listed on The New York Stock Exchange or any securities exchange or the NASDAQ National Market on which
securities of the same class issued by the Company are then so qualified or listed if so requested by the majority Holders of the Registrable Securities covered by a Registration Statement, or if so requested by the underwriter or underwriters of a
Public Offering of the Registrable Securities, if any; 

  

	 	(o)	otherwise use its reasonable efforts to comply with all applicable rules and regulations of the Commission, including making available to its security holders an earnings statement
covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

  

	 	(p)	cooperate and assist in any filings required to be made with the NASD and in the performance of any due diligence investigation by any underwriter in an underwritten offering; and

  

	 	(q)	use all reasonable efforts to facilitate the distribution and sale of any Registrable Securities to be offered pursuant to this Agreement, including without limitation by making
road show presentations, holding meetings with potential investors and taking such other actions as shall be requested by the majority Holders of the Registrable Securities covered by a Registration Statement or the lead managing underwriter of an
underwritten offering; provided that the Company shall not be required to make road show presentations in connection with any Public Offering of the Registrable Securities that would not reasonably be expected to have an aggregate value of at
least US$65,000,000. 

 Each selling Holder of the Registrable Securities as to which any Registration is being effected
pursuant to this Agreement agrees, as a condition to the Registration obligations with respect to such Holder provided herein, to furnish to the Company such information regarding such Holder required to be included in the Registration 

  

 14 

 
Statement, the ownership of the Registrable Securities by such Holder and the proposed distribution by such Holder of such Registrable Securities as the
Company may from time to time reasonably request in writing. 
 8. Indemnification. 
 8.1. Company’s Indemnification of Holders. To the extent permitted by law, the Company shall indemnify each Holder, each of its officers,
directors, partners, agents, legal counsel for the Holders, and each Person controlling that Holder within the meaning of the Securities Act, with respect to which Registration, qualification, or compliance of the Registrable Securities has been
effected pursuant to this Agreement, and each underwriter, if any, and each of its officers, directors, partners, agents and each Person who controls any underwriter within the meaning of the Securities Act against all claims, losses, damages,
liabilities, or actions in respect thereof (collectively, “Damages”) to the extent the Damages arise out of or are based upon any untrue statement (or alleged untrue statement) of a material fact contained in any
Registration Statement, Prospectus or other document incident to any Registration, qualification, or compliance, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary in order to make the
statements made therein (in the case of a Prospectus, in light of the circumstances under which they were made) not misleading, or any violation by the Company (or alleged violation) of any rule or regulation promulgated under the Securities Act,
Exchange Act, applicable Blue Sky laws, or other applicable laws in the jurisdiction other than the United States in which the Registration occurred, applicable to the Company and relating to action or inaction required of the Company in connection
with any Registration, qualification, or compliance; and the Company shall reimburse each such Holder, each underwriter, each of their respective officers, directors, partners, agents, legal counsels, and each Person who controls any Holder or
underwriter, for any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided, however, that the indemnity contained in this Section 8.1
shall not apply to amounts paid in settlement of any Damages if settlement is effected without the consent of the Company (which consent shall not unreasonably be withheld); and provided, further, that the Company will not be liable in any
case to the extent that any Damages arise out of or are based upon any untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in that Registration Statement, prospectus, or other document in reliance upon and in
conformity with written information furnished to the Company by a Holder or underwriter, if any, and stated to be specifically for use in connection with the offering of securities of the Company. 
 8.2. Holder’s Indemnification of Company. To the extent permitted by law, each Holder shall, if the Registrable Securities held by that
Holder are included in the securities as to which Registration, qualification or, compliance is being effected pursuant to this Agreement, indemnify the Company, each of its directors and officers, each legal counsel and independent accountant of
the Company, each underwriter, if any, of the Company’s securities covered by the Registration Statement, each Person who controls the Company or underwriter within the meaning of the Securities Act, and each other Holder selling securities
under such Registration, each of its such other Holder’s, officers, directors, and constituent partners, and each Person controlling the other Holder, against all Damages arising out of or based upon any untrue statement (or alleged untrue
statement) of a material fact contained in such Registration Statement, prospectus, or other document incident to any Registration, qualification or compliance, or any omission (or alleged omission) to state therein a material fact required to be
stated therein or necessary in order to make the statements made therein (in the case of a Prospectus, in light of the circumstances under which 

  

 15 

 
they were made) not misleading, or any violation (or alleged violation) by the Holder of any rule or regulation promulgated under the Securities Act,
Exchange Act, applicable Blue Sky laws, or other applicable laws in the jurisdiction other than the United States in which the Registration occurred, applicable to the Holder and relating to action or inaction required of the Holder in connection
with any Registration, qualification, or compliance, and shall reimburse the Company, those Holders, directors, officers, partners, Persons, law and accounting firms, underwriters or control Persons for any legal and any other expenses reasonably
incurred in connection with investigating or defending any claim, loss, damage, liability, or action, in each case to the extent, but only to the extent, that the untrue statement (or alleged untrue statement) or omission (or alleged omission) is
made in that Registration Statement, prospectus, or other document in reliance upon and in conformity with written information furnished to the Company by that Holder and stated to be specifically for use in connection with the offering of
securities of the Company, provided, however, that the indemnity contained in this Section 8.2 shall not apply to amounts paid in settlement of any Damages if settlement is effected without the consent of that Holder (which consent shall
not be unreasonably withheld) and provided, further, that each Holder’s liability under this Section 7.2 shall not exceed the Holder’s proceeds (less underwriting discounts and selling commissions) from the offering of
securities made in connection with that Registration. 
 8.3. Indemnification Procedure. Promptly after receipt by an indemnified party
under this Section 8 of notice of the commencement of any action, the indemnified party shall, if a claim is to be made against an indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement
thereof and generally summarize the action. The indemnifying party shall have the right to participate in and to assume the defense of that claim; provided, however, that the indemnifying party shall be entitled to select counsel for the
defense of the claim with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided further, however, that if either party reasonably determines that there may be a conflict between
the position of the Company and the Shareholders in conducting the defense of the action, suit, or proceeding by reason of recognized claims for indemnity under this Section 8, then counsel for that party shall be entitled to conduct the
defense to the extent reasonably determined by counsel to be necessary to protect the interests of that party. The failure to notify an indemnifying party promptly of the commencement of any action, if prejudicial to the ability of the indemnifying
party to defend the action, shall relieve the indemnifying party, to the extent so prejudiced, of any liability to the indemnified party under this Section 8, but the omission to notify the indemnifying party shall not relieve the party of any
liability that the party may have to any indemnified party otherwise than under this Section 8. 
 8.4. Contribution. If the
indemnification provided for in this Section 8 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any Damages, then the indemnifying party, in lieu of indemnifying the indemnified party
hereunder, shall contribute to the amount paid or payable by the indemnified party as a result of those Damages in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and of the indemnified
party, on the other hand, in connection with the statements or omissions that resulted in Damages as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying or the indemnified party and the parties’
relative intent, knowledge, access to information, and opportunity to correct or prevent the statement or omission. 
  

 16 

 8.5. Conflicts. Notwithstanding the foregoing, to the extent that provisions on indemnification
and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
 8.6. Survival of Obligations. The obligations of the Company and Holders under this Section 8 shall survive the completion of any offering of
the Registrable Securities in a Registration Statement under this Agreement or otherwise. 
 9. Lock-Up. Each Holder hereby agrees
that, if requested by the Company and the Underwriters’ Representative (if any) in connection with the Company’s initial public offering, the Holder shall not sell, make any short sale of, loan, grant any option for the purchase of, or
otherwise transfer or dispose of any Registrable Securities or other securities of the Company without the prior written consent of the Company and the Underwriters’ Representative for such period of time (not to exceed 180 days) following the
effective date of a Registration Statement of the Company filed under the Securities Act (or other applicable law in a jurisdiction other than the United States in which a Registration occurred) as may be requested by the Underwriters’
Representative; provided, that, each Holder will agree to such lock-up period only if all executive officers and directors of the Company and all other holders of at least five percent (5%) of the Company’s voting securities
enter into similar agreements. 
 10. Reports Under the Exchange Act. With a view to making available to Holders the benefits of Rule
144 promulgated under the Securities Act and any other rule or regulation of the Commission that may at any time permit a Holder to sell securities of the Company to the public without Registration or pursuant to a Registration on Form F-3, the
Company agrees to: 
  

	 	(a)	make and keep public information available, as those terms are understood and defined in Rule 144, at all times after 90 days after the effective date of the first Registration
Statement filed by the Company for the offering of its securities to the public; 

  

	 	(b)	take all reasonable action, including the voluntary Registration of its Ordinary Shares under Section 7 of the Exchange Act, necessary to enable the Holders to utilize Form F-3
for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first Registration Statement filed by the Company for the offering of its securities to the general public is
declared effective; 

  

	 	(c)	file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; 

  

	 	(d)	 furnish to any Holder, so long as the Holder owns any Registrable Securities, promptly upon request (i) a written statement by the Company that it has complied
with the reporting requirements of Rule 144 (at any time after 90 days after the effective date of the first Registration Statement filed by the Company), the Securities Act, and the Exchange Act (at any time after it has become subject to those
reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form 

  

 17 

	 	 
F-3 (at any time after it so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and any other reports and documents
filed by the Company; and (iii) any other information as may be reasonably requested in availing any Holder of any rule or regulation of the Commission which permits the selling of any securities without Registration or pursuant to that form;
and 

  

	 	(e)	for a Registration in a jurisdiction other than the United States, take actions similar to those set forth in paragraphs (a), (b), (c) and (d) of this Section 10 with
a view to making, available to Holders the benefits of the corresponding provision or provisions of that jurisdiction’s securities laws. 

 11. Compliance with Sarbanes-Oxley Act. The Company covenants that it will fully comply with all the requirements of the United States Sarbanes-Oxley Act of 2002, as amended, and any rules and regulations
thereunder adopted from time to time by the Commission and any other applicable laws, in each case to the extent applicable to the Company. 
 12. Miscellaneous. 
 12.1. Governing Law. This Agreement shall be governed by, and construed in accordance with, the
laws of the State of New York. 
 12.2. Dispute Resolution Forum. 
 (a) If there is any dispute, claim or controversy arising from, related to or in connection with this Agreement, or the breach, termination or invalidity
hereof, the Parties shall first attempt to resolve such dispute, controversy or claim through friendly consultations. If the dispute, claim or controversy is not resolved through friendly consultations within thirty days after a Party has delivered
a written notice to another Party requesting the commencement of consultation, then the dispute, claim or controversy shall be finally settled by arbitration conducted by the International Chamber of Commerce (the “ICC”) in
accordance with the Arbitration Rules of the ICC then in effect and as may be amended by the rest of this Section 12.2 (the “Rules”). There shall be three arbitrators of whom the Investor, on the other hand, and the Company and
NGM, on the other hand, shall each nominate one (1) in accordance with the Rules. The two named arbitrators shall nominate the third arbitrator within thirty (30) days of the nomination of the second arbitrator. If any arbitrator has not
been named within the time limits specified in the Rules, such appointment shall be made by the International Court of Arbitration of the ICC upon the written request of either Party within thirty days of such request. The arbitration shall be held
and the award shall be rendered in Singapore. The arbitration proceeding shall be conducted and the award shall be rendered in the English language. Each Party shall cooperate in good faith to expedite (to the maximum extent practicable) the conduct
of any arbitral proceedings commenced under this Agreement. 
 (b) The award shall be final and binding upon the Parties, and shall be the
exclusive remedy between the Parties regarding any claims, counterclaims, issues, or accountings presented to the arbitral tribunal. To the fullest extent allowed by applicable Law, each Party hereby waives any right to appeal such award. Judgment
upon the award may be entered in any court having jurisdiction thereof, and for purposes of enforcing any arbitral award made hereunder, each Party irrevocably submits to the jurisdiction of any court sitting where any of such 

  

 18 

 
Party’s material assets may be found. Any arbitration proceedings, decisions or awards rendered hereunder shall be governed by the United Nations
Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958, as amended, and the Parties agree that any award rendered hereunder shall not be deemed a domestic arbitration under the laws of any jurisdiction.

 (c) By agreeing to arbitration, the Parties do not intend to deprive any court of its jurisdiction to issue a pre-arbitral injunction,
pre-arbitral attachment or other order in aid of arbitration proceedings and the enforcement of any award. 
 (d) The costs of the
arbitration, as defined in the Rules, shall be allocated between the Parties by the arbitrators and shall be set forth in the arbitral award. Any amounts subject to the dispute, controversy or claim that are ultimately awarded to a Party under this
Section 12.2 shall bear interest at the rate of six percent per annum from the earlier of (i) the date of the request for arbitration and (ii) the date such amount would have become due and owing but for the dispute, controversy or
claim until the date the arbitral award is paid in full. 
 12.3. Specific Performance. Each Party hereby acknowledges that the
remedies at law of the other Parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any Party, without posting any bond, and in addition to all other remedies that may be available, shall be
entitled in accordance with Section 12.2(c) to seek equitable relief in the form of specific performance, injunctions or any other equitable remedy. 
 12.4. Counterparts and Facsimile Execution. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument. Any counterpart or other signature delivered by facsimile shall be deemed for all purposes as being a good and valid execution and delivery of this Agreement by that party. 
 12.5. Headings. The headings of the Sections of this Agreement are for convenience and shall not by themselves determine the interpretation of
this Agreement. 
 12.6. Notices. All notices, requests and other communications hereunder must be in writing and will be deemed to
have been duly given only if delivered personally or by facsimile transmission or mailed (first class postage prepaid) to the parties at the following addresses or facsimile numbers: 
 If to the Company, to: 
 No. 12 Hua Yuan Road 
 Nanjing, Jiangsu Province 210042 
 People’s Republic of China 
 Facsimile No.: +86 (25) 8547-6400 
 Attn: Qian Haibo 
 If to the Investor, to: 
 7F, Tower A, Raycom Info Tech Park 
 No. 2 Kexueyuan Nanlu 
  

 19 

 Haidian District 
 Beijing, PRC 100080 
 Facsimile No.: +86 (10) 6250-9181 
 Attn: Wang Shunlong 
 If to NGM, to: 
 No. 12 Hua Yuan Road 
 Nanjing, Jiangsu Province 210042 
 People’s Republic of China 
 Facsimile No.: +86 (25) 8547-6400 
 Attn: Weidong Ren 
 All such notices, requests and other communications will (a) if delivered personally to the address as provided in this Section, be deemed given upon delivery,
(b) if delivered by facsimile transmission to the facsimile number as provided in this Section, be deemed given upon on the date of transmission with receipt of a transmittal confirmation, and (c) if delivered by mail in the manner
described above to the address as provided in this Section, be deemed given on the fourth (4th) Business Day following the date of deposit with such courier service, or such earlier delivery date as may be confirmed in writing to the sender by
such courier service (in each case regardless of whether such notice, request or other communication is received by any other Person to whom a copy of such notice, request or other communication is to be delivered pursuant to this Section). Any
party from time to time may change its address, facsimile number or other information for the purpose of notices to that party by giving notice specifying such change to the other party hereto. 
 12.7. Amendment of Agreement. Any provision of this Agreement may be amended only by a written instrument signed by the Company and by persons
holding not less than 75% of the Registrable Securities (calculated on an as-converted basis). 
 12.8. Severability. In case any
provision of this Agreement shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 12.9. Entire Agreement; Successors and Assigns. This Agreement constitutes the entire contract among the Company and the Shareholders relative to
the subject matter of this Agreement. Any previous agreement, whether written or oral, between the Company and any Shareholder concerning the subject matter of this agreement or registration rights is superseded by this Agreement. Subject to the
exceptions specifically set forth in this Agreement, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective executors, administrators, heirs, successor, and permitted assigns of the parties.

 [Signatures follow on the next page.] 
  

 20 

 IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement as of the day and year
first above written. 
  

			
	NEW GOOD MANAGEMENT LIMITED
		
	By:	 	 /s/ Ren Jinsheng

	Name:	 	Ren Jinsheng 

	Title:	 	Director
	
	ASSURE AHEAD INVESTMENTS LIMITED
		
	By:	 	 /s/ John Huan Zhao

	Name:	 	John Huan Zhao 

	Title:	 	Director
	
	SIMCERE PHARMACEUTICAL GROUP
		
	By:	 	 /s/ Ren Jinsheng

	Name:	 	Ren Jinsheng 

	Title:	 	Director

 EXECUTION COPY 
 SIMCERE PHARMACUETICAL GROUP 
 REGISTRATION RIGHTS AGREEMENT 
 November 20, 2006Share Purchase Agreement

 Exhibit 4.5 
 Dated May 28th, 2006 
 STATE GOOD GROUP LIMITED

 INVESTING IN 
 YANTAI MEDGENN CO.,LTD 
  

 SHARE TRANSFER AGREEMENT 
  

  

 Share Transfer Agreement 
 Concerning Yantai Medgenn Co.,Ltd 
 THIS AGREEMENT is dated May 28th, 2006 and is made in Yantai, Shandong
Province, People’s Republic of China (“PRC”) BETWEEN: 
 Transferor: 
 Dr. Luo Yongzhang (“Dr. Luo”), ID card number: 370611196206110516 ; 
 Dr. Zhou Bing (“Dr. Zhou”) , US passport number:201335772. 
 Aforesaid two (2) parties collectively called
“Transferor”. 
 Transferee: 
 State Good Group Limited a company with limited liability incorporated and existing under laws of British Virgin Islands whose registered office is at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
British Virgin Islands. Its legal representative is Mr. Ren Jinsheng, the board chairman, whose nationality is China. 
 WHEREAS 
 1. YANTAI MEDGENN CO.,LTD (“YANTAI MEDGENN”) is a stock company jointly funded by the Transferor and other shareholders. YANTAI MEDGENN is
incorporated in accordance with relevant laws and has already gotten the Business License of Corporation of PRC ( Register Number: Qi Gu Lu Zong Fu Zi 003933-11). YANTAI MEDGENN’s registered office is at No.1 Rongchang Rd, Yantai
Economic & Technologic Development Area, Shandong. YANTAI MEDGENN’s registered capital is RMB 30,128,100 divided into 30,128,150 shares. Rongchang owns 15,410,549 shares, Doctor Luo Yongzhang owns 10,599,083 shares, Doctor Zhou Bing
owns 2,913,392 shares, ZHONGKECHENG owns 903,845 shares and RUIKANG owns 301,281 shares. All shares owned by Transferor are fully paid. 
 2.
The Transferor agrees to transfer some of their respective shares (“Targeted Shares”) to the Transferee in accordance with this Agreement. 
 3. The Transferee agrees to accept Targeted Shares from the Transferor in accordance with this Agreement. 

 NOW THEREOF, parties hereto agree to deal with the share transfer between the Transferor and the
Transferee as follows: 
 Article 1 Share Transfer 
 1.1 Dr. Luo agrees to transfer to the Transferee and the Transferee agrees to accept from Dr. Luo, 5,888,380 shares in the capital of YANTAI MEDGENN in accordance with terms and conditions of this Agreement.

 1.2 Dr. Zhou agrees to transfer to the Transferee and the Transferee agrees to accept from Dr. Zhou, 1,618,550 shares in the
capital of YANTAI MEDGENN in accordance with terms and conditions of this Agreement. 
 1.3 Upon the completion of share transfers under
above paragraph 1.1 through paragraph 1.2, the Transferee shall totally own 7,506,930 shares in the capital of YANTAI MEDGENN. 
 1.4 Parties
hereto agree, upon completing the registration of change with competent industrial and commercial administration concerning share transfers under this Agreement, Targeted Shares and any and all rights and interest thereunder shall be deemed to be
owned by the Transferee. The Transferee shall enjoy any and all rights entitled by PRC laws to Targeted Shares and undertake corresponding obligations, while the Transferor will no longer enjoy relevant rights and undertake relevant obligations
unless otherwise provided herein. 
 Article 2. Transfer Consideration and Payment Mode 
 2.1 Parties here to agree: 
 2.1.1 Under the
precondition that Targeted Shares and assets of YANTAI MEDGENN satisfy requirements provided herein, transfer price of Targeted Shares shall be RMB 8.15 per share, and the total transfer consideration shall be RMB 61,181,479.5; 
 2.1.2 The consideration for shares transferred by Dr. Luo shall be RMB 47,990,297; 
 2.1.3 The consideration for shares transferred by Dr. Zhou shall be RMB 13,191,182.5; 
 2.1.4 Aforesaid transfer consideration shall be the total consideration that the Transferee shall pay to the Transferor for Targeted Shares. 

 2.2 Aforesaid transfer consideration shall be paid by the Transferee in installments in accordance with
following time schedule: 
 2.2.1 Within three (3) working days after the signature of this Agreement, the Transferee shall pay 20% of
the total consideration, equal to RMB 12,236,295.9, to the Transferor. Said payment shall be remitted to the account designated by the Transferor; 
 2.2.2 Within two (2) weeks after the signature of this Agreement, the Transferee shall pay 40% of the total consideration, equal to RMB 24,472,591.8, to the Transferor. Said payment shall be remitted to the account designated by the
Transferor; 
 2.2.3 After the Transferee actually manage YANTAI MEDGENN and achieve three (3) consecutive production batches of
qualified “Endostar” in accordance with specific technical documents and regulations, said products are confirmed after examination to satisfy output level and are submitted to competent authority for full examination, and the registration
of change concerning share transfers with competent industrial and commercial administration is completed, the Transferee shall pay 35% of the total consideration, equal to RMB 21,413,517.83, within three (3) weeks. Said payments shall be
remitted to the account designated by the Transferor; 
 2.2.4 Within one (1) week after the trial quality standards for
“Endostar” become the official quality standards with competent authorities’ approval supported by necessary documents filed by YANTAI MEDGENN under the management of the Transferee within required time period, the Transferee shall
pay the rest 5% of the total consideration, equal to RMB 3,059,073.97. Said payments shall be remitted to the account designated by the Transferor; 
 2.2.5 Aforesaid time schedule shall comply with current laws and regulations of PRC, and shall ensure the completion of relevant industrial and commercial registration concerning the transfer of shares. If current laws and regulations of
PRC require that the Transferee shall get prior consent and approval from competent authorities for the payment of any installment, parties hereto shall try their best to complete relevant formalities as soon as possible, but the reasonable time
used to go through said prior examination and approval procedure shall not be included in the time that the Transferee take to pay relevant installments. 
 Article 3. Completion Date 
 3.1 Completion of the transfer of Targeted Shares under this Agreement shall take place on the
date when all of the following events happen, and said date shall be the Completion Date: 
  

	 	(1)	This Agreement is legally and effectively signed by the Transferor and the Transferee; 

  

	 	(2)	The shareholder’s meeting of YANTAI MEDGENN pass a resolution to approve the share transfer under this Agreement, approve the Transferee to become a shareholder of YANTAI
MEDGENN and to hold Targeted Shares, and approve the registration of change concerning share transfers with competent industrial and commercial administration; 

  

	 	(3)	Share transfers obtain relevant approval from competent authorities; 

  

	 	(4)	Memorandum and articles of association of YANTAI MEDGENN is legally and properly amended so as to reflect the share transfer contemplated herein, and the Transferee is entered in
the amended memorandum and articles of association as the shareholder who owns Targeted Shares in YANTAI MEDGENN; 

  

	 	(5)	YANTAI MEDGENN files an application for the registration of change with competent industrial and commercial administration, and the Transferee is entered in the registration
documents of YANTAI MEDGENN as the shareholder of Targeted Shares in YANTAI MEDGENN; 

 3.2 Notwithstanding forgoing provisions
under paragraph 3.1, Parties hereto agree: 
  

	 	(1)	after this Agreement is signed and the first and second installment of payment is made in accordance with Section 2.2.1 and Section 2.2.2, the Transferee’s employees
may enter YANTAI MEDGENN to carry out relevant managements, and the Transferor shall assist the Transferee to get the right concerning the control and management of YANTAI MEDGENN. Parties hereto shall actively cooperate with YANTAI MEDGENN to
finish the registration of change concerning share transfers with industrial and commercial administration as soon as possible; if necessary, the Transferee may engage an independent accounting firm recognized by the Transferor to carry out an audit
to YANTAI MEDGENN’s financial conditions; 

  

	 	(2)	after the Transferee actually manage YANTAI MEDGENN, the Transferor shall direct the Transferee to achieve three (3) consecutive production batches of qualified
“Endostar” in accordance with specific technical documents and regulations, and said products shall be confirmed to satisfy relevant standards by competent authority after examination. 

 Article 4. Intangibles 
 4.1 Under the precondition
that the patent situation concerning “Endostar” of YANTAI 

 
MEDGENN disclosed by the Transferor to the Transferee is true, YANTAI MEDGENN and the Transferee shall undertake all risks and liabilities arising from
disputes related to patents of “Endostar” after the share transfer, while the Transferor will not undertake any liabilities. 
 4.2
As the inventor of Endostar, the Transferor shall endeavor to avoid the patent disputes. Once patent disputes occurs, the Transferor shall properly solve the patent rights with the assistance of YANTAI MEDGENN 
 Article 5. The Transferor’s Continuing Support to YANTAI MEDGENN 
 5.1 After the share transfer, the Transferor direct the YANTAI MEDGENN’s R&D as the R&D core. 
 5.2 After the share transfer, the Transferor as the inventor of Endostar shall ensure that the quality of Endostar always satisfies product standards and the manufacturing technologies satisfy the requirements concerning mass production.

 5.3 As the inventor of Endostar, the Transferor shall provide academic support to the academic promotion and the increase of market share,
including actively participating in marketing activities without violating relevant regulations of Tsinghua University. Parties hereto both shall cause YANTAI MEDGENN to legally and properly introduce the Transferor’s education background and
academic background accurately in relevant products promotion. 
 5.4 The Transferor shall deliver R&D fruits, which is related to YANTAI
MEDGENN and could be industrialized, to YANTAI MEDGENN for implementation, and the Transferee and YANTAI MEDGENN shall correspondingly give full consideration to the value of said R&D fruits. 
 Article 6. Confidential 
 6.1 The Transferor and the
Transferee covenant and ensure to impose restriction over their respective personnel not to disclose, before and after the signature of this Agreement, to a third party any and all confidential information about YANTAI MEDGENN they know, except that
said confidential information is disclosed with the other party’s prior written authorization or based on the mandatory requirements of laws, administrative orders of PRC government, or judgment or ruling of competent judicial authorities.
Under such exception, relevant information shall be disclosed only to aforesaid approved or required extent, and the discloser shall submit the information to be disclosed to the other party for review before the disclosure. 

 6.2 Whether this Agreement is terminated or not, provisions under this Article 6 shall survive forever.

 Article 7. Effectiveness and Termination 
 7.1 This Agreement shall go into effect as from the date of signature. 
 7.2 The Transferee is entitled to unilaterally terminate
this Agreement if any one or more of the following events occurs: 
  

	 	(1)	YANTAI MEDGENN does not own relevant technologies which was thought to have already been contributed after evaluation to YANTAI MEDGENN; 

  

	 	(2)	YANTAI MEDGENN’s existing patents and know-how can not support the industrial production of “Endostar”; or the first three (3) consecutive production batches of
products do not satisfy output level or are determined by competent authority after full examination not satisfying quality standards; 

  

	 	(3)	Because of any problem existing in the application procedure or relevant application contents concerning “Endostar” made by YANTAI MEDGENN before the signature of this
Agreement, the production and sale of “Endostar” is prohibited by relevant government authority. 

 7.3 In case any
event under paragraph 7.2 occurs, this Agreement shall be terminated as soon as the Transferee delivers a written notice thereof to the Transferor. 
 7.4 In case this Agreement is terminated in accordance with paragraph 7.2 and paragraph 7.3, within one (1) week after receiving the termination notice, the Transferor shall refund to the Transferee all consideration it has received
together with interests at corresponding bank’s lending rate from the date the Transferee paid the consideration until the date the Transferor refund all consideration it has received. The Transferee shall return Targeted Shares to the
Transferor and provide assistance in relevant registration of change. 
 7.5 Parties hereto agree in consensus that the Transferor is
entitled to unilaterally terminate this Agreement if the Transferee does not pay the transfer consideration in accordance with relevant time schedule. Under such condition, this Agreement shall be terminated as soon as the Transferor delivers a
written notice thereof to the Transferee. 

 7.6 In case this Agreement is terminated in accordance with paragraph 7.5, the Transferee shall pay a
default fine equal to 1% of the total transfer consideration to the Transferor. 
 Article 8. Cost 
 Any and all taxes, costs and expenses arising from the execution and performance of this Agreement shall be borne and paid in accordance with relevant
laws and regulations. 
 Article 9. Transferor and Transferee 
 9.1 Two (2) persons as the Transferor shall undertake joint and several liabilities to each other for any and all obligations under this Agreement. One person may act for and on behalf of the other person.

 9.2 To facilitate the share transfer, the Transferee shall be entitled to appoint its affiliates to accept any or all transferred shares.
The actual transferee shall duly enjoy relevant rights and undertake relevant obligations under this Agreement. The Transferor shall assist the Transferee to handle relevant formalities. 
 Article 10. Employee Settlement 
 10.1 The Transferor and the Transferee agree in consensus that any
and all employees’ interest shall be respected and safeguarded when carry out share transfer. Moreover, parties hereto agree that the stabilization of employee team shall be a compound part of the intrinsic value of YANTAI MEDGENN. Therefore,
the employee team shall be kept stable after this Agreement is performed. 
 10.2 After actually getting the controlling powers and
management rights of YANTAI MEDGENN, the Transferee shall safeguard employees’ interest strictly in accordance with labor laws and regulations, and shall not unreasonably dismiss any employee who is within the labor contract period. 

10.3 The Transferor shall also play an active and positive role in stabilize the employee team of YANTAI MEDGENN. 

 Article 11. Default Responsibilities 
 11.1 Any of the following conditions of either party hereto shall constitute a breach to this Agreement: 
  

	 	(1)	failure to perform any obligations provided under this Agreement; 

  

	 	(2)	failure to comply with representations and warranties made to the other party in Schedule I and Schedule II; 

  

	 	(3)	representations and warranties made in this Agreement containing untrue or misleading contents(no matter in goodwill or mala fide). 

 11.2 Unless otherwise provided, in case of a breach, the observing party shall be entitled to demand the default party to correct relevant defaults
within thirty (30) days; if the default party does not make correction within required time period and make the realization of the purpose of this Agreement impossible, the observing party shall be entitled to terminate this Agreement.

 11.3 Parties hereto covenant to each other that, whether this Agreement is terminated or not, the default party shall, upon the request of
the observing party, compensate the observing party as follows, which shall not impair the observing party’s right to claim damages to the default party for its default: 
  

	 	(1)	some money equal to the amount that could make the observing party recover to the situation it should have being if the default party had not defaulted; 

  

	 	(2)	observing party’s losses arising directly or indirectly from the default party’s default (including reasonable legal costs, arbitration costs and attorney fees paid by the
observing party). 

 11.4 Members of the Transferor shall undertake joint and several liabilities to each other for any and all
default responsibilities under this Agreement. 
 11.5 Either party’s failure to exercise or delay in exercising its right provided by
this Agreement does not constitute a waiver of such right, and the partial exercise of such right shall not prevent full exercise of such right. 

 Article 12. Force Majeure 
 12.1 In case either party’s nonperformance or delay in performance of obligation provided in this Agreement is caused by the force majeure, such party shall be exempted from any and all default responsibilities.
The force majerure as used herein means those events that are not attributable to either party of this Agreement, unpredictable at the time signing this Agreement, and their occurrences are unavoidable and relevant subsequences are insurmountable.

 12.2 Once force majeure occurs, the influenced party shall, if possible, notify the force majeure to the other party in time within five
(5) working days. In case the influenced party fails to perform such notification obligation and its nonperformance therefore cause losses to the other party, the influenced party shall compensate the other party for losses arising therefrom.
Upon the force majerue disappears, the party who is once influenced by the force majeure and fails to perform this Agreement shall use its best efforts to resume its performance of obligations provided herein. 
 Article 13. Governing Law 
 The conclusion, validity,
interpretation and performance of this Agreement and the settlement of disputes arising thereof shall be governed by laws of PRC. 
 Article 14. Witness

 Parties hereto agree in consensus that the Administrative Committee of Yantai Economic & Technologic Development Area shall be
the witness of this Agreement, and shall supervise and coordinate the effective implementation of this Agreement. 
 The Administrative
Committee of Yantai Economic & Technologic Development Area covenants that government’s preferential policies, supports and assistances provided to YANTAI MEDGENN as an incentive to encourage YANTAI MEDGENN to be an innovative
enterprise will remain unchanged, and the government will continue to support YANTAI MEDGENN in research and development, manufacturing, management and operation in future. 
 Article 15. Dispute Resolution Forum 
 15.1 If there is any dispute arising from, related to or in
connection with this Agreement, 

 
parties hereto shall first attempt to resolve such dispute through friendly consultations. In case such dispute cannot be resolved through consultation,
either party shall be entitled to submit such dispute to China International Economic and Trade Arbitration Commission for arbitration. The arbitration shall be carried out in accordance with such commission’s arbitration rules then in effect,
and the award shall be final and binding over parties hereto. 
 15.2 During the arbitration, except for those disputed issues submitted for
arbitration, parties hereto shall go on performing remained obligations herein. 
 Article 16. Miscellenous 
 16.1 The schedules form part of this Agreement and shall have same effect as provisions of this Agreement. 
 16.2 Any amendment to this Agreement may be made only by a written instrument signed by parties hereto. The amended or supplemented provisions shall form
part of this Agreement. 
 16.3 This Agreement shall inure for the benefit of and be binding upon parties hereto and their respective
successors and assigns. 
 16.4 In case any provision of this Agreement is determined to be invalid by the arbitral tribunal, the validity of
the remained provisions shall not in any way be affected or impaired thereby. 
 16.5 This Agreement constitutes the entire agreement
concerning the transfer of shares in YANTAI MEDGENN and relevant issues, and shall supersede any and all previous draft agreements, intention, agreements, promises, statements and arrangements, whether written or oral, between parties hereto.

 16.6 All notices hereunder shall be in writing and in Chinese, and shall be sent by registered post or facsimile transmission or other
electronic communication. Notices shall be deemed to have been duly given only if sent to parties hereto at their respective registered office. If such notices are delivered by registered post, such notices shall be deemed given on the date
indicated in the return receipt. If such notices are delivered by facsimile transmission, such notices shall be deemed given on the date indicated in the transmittal confirmation. 

 16.7 This Agreement shall be executed in seven (7) counterparts, and each party hereto shall keep
one (1) counterpart and the Witness shall keep one (1) counterpart. The rest three (3) counterparts shall be used to file relevant applications to competent examining and approving authorities. 
 16.8 IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement at the place and as of the date first above written. 
 ( NO TEXT HEREUNDER ) 

 ( Signature Page ) 
 Transferor : 
 Dr. LUO Yongzhang 
 Signature: 
 Dr. ZHOU Bing 
 Signature:

 Transferee 
 State Good Group Limited

 Legal / Duly Authorized Representative: 
 Witness :

 ADMINISTRATIVE COMMITTEE OF YANTAI ECONOMIC & TECHNOLOGIC DEVELOPMENT AREA 
 Legal / Duly Authorized Representative: 

 Schedule I: Transferee’s Representations and Warranties 
 The Transferee hereby makes following representations and warranties to the Transferor: 
 1. The Transferee is a company with limited liability incorporated and existing under the laws of PRC, and has any and all rights, authorities and capabilities necessary for the undertaking and performance of all
obligations and liabilities hereunder. This Agreement, when executed, shall be legally and effectively binding over the Transferee. 
 2. The signature and
performance of this Agreement and relevant documents did not in the past, does not now or will not in future cause the Transferee to: 
 (1) violate its
respective articles of association; 
 (2) violate any agreements binding the Transferee; 
 (3) violate any order, judgment or adjunction binding the Transferee, which is made by competent government authorities, courts and arbitral tribunal; or 
 (4) need a third party’s consent. 
 3. The Transferee shall perform its obligation concerning the payment of the
transfer consideration in accordance with relevant provisions hereunder, and shall assure the legality of the fund resources. 

 Schedule II: Transferor’s Representations and Warranties 
 The Transferor hereby makes following representations and warranties to the Transferee: 
 I. General 
 1. The Transferor guarantees that any and all information concerning YANTAI MEDGENN given to the Transferee is
true and accurate, and there is no material omission, disguise or misleading representations or statements that might affect its trueness and accuracy. 
 2.
YANTAI MEDGENN is a stock company incorporated and existing under PRC laws, all its investments has already been fully contributed and whose capital will remain in full, and all its assets and business are legally and effectively owned, used and
operated. 
 3. In respect of shares in YANTAI MEDGENN, no third party is granted purchase option, swap rights, pre-emptive rights and other rights. There is
no share incentives or share option arrangements involving any director or employee in YANTAI MEDGENN. 
 4. Shareholders’ Agreement and Articles of
Association, as amended, of YANTAI MEDGENN has already listed all rights and restriction concerning its shareholders. YANTAI MEDGENN’s shareholders have already performed their respective obligations under said Shareholders’ Agreement and
Articles of Association. Entire copy of such Shareholders’ Agreement and Articles of Association has already been delivered to the Transferee. 
 5.
Except for those disclosed matters, the Transferor is not aware that there are any existing or threatening disputes or claims concerning Shareholders’ Agreement and Articles of Association, as amended, of YANTAI MEDGENN or any issues which may
incur such disputes or claims. 
 6. The Transfer has any and all rights, authorities and capabilities necessary for the undertaking and performance of all
obligations and liabilities hereunder. This Agreement, when executed, shall be legally and effectively binding over the Transferor. As shareholders and founders of YANTAI MEDGENN, the Transferor’s signature and performance to this Agreement,
under which Targeted Shares will be transferred to the Transferee who is an overseas investor, completely comply with PRC laws and regulations. 

 7. The signature and performance of this Agreement and relevant documents did not in the past, does not now or will not
in future cause the Transferor to: 
 (1) violate its articles of association; 
 (2) violate any agreements binding the Transferor; 
 (3) violate any order, judgment or adjunction binding the Transferor,
which is made by competent government authorities, courts and arbitral tribunal; or 
 (4) need a third party’s consent (except for those that have
already been disclosed). 
 8. The Transferor have legal and full ownership to their respective shares in YANTAI MEDGENN, all of which are free from any
charge, pledge or other encumbrances. The Transfer has full legal capacities and rights to perform any and all obligations under this Agreement and do not suffer any restrictions from a third party other than mandatory restriction. Any and all
consents, permissions, approvals, registrations, exemptions and notification were gotten before the date of this Agreement. 
 9. The signature and
subsequent performance of this Agreement will not cause any material adverse effects to YANTAI MEDGENN’s material assets and activities concerning manufacturing, operation, sale, or cause YANTAI MEDGENN to lose any approval, rights,
preferential treatments and important clients or suppliers that it had before the date of this Agreement. 
 II. Operating Business 
 1. Unless otherwise provided herein, YANTAI MEDGENN has already gotten any and all powers, authorizations, permissions and consents necessary for its business operation,
and there are no matters that violate or may violate such powers, authorizations, permissions and consents, or cause such powers, authorizations, permissions and consents or any license to be revoked or withdrawn, which may cause material adverse
effects to YANTAI MEDGENN. 
 2. Unless otherwise provided herein, all of YANTAI MEDGENN’s activities concerning manufacturing, operation and sale
comply with provisions of PRC laws and its Articles of Association, and will not cause any harm to a third party’s rights. YANTAI MEDGENN did not sign any agreement which might restrict its business operation. 
 3. The Transferor guarantees that Medgenn (Hong Kong) Co., Ltd has already been legally established and exists effectively. YANTAI MEDGENN is shareholder of Medgenn
(Hong 

 
Kong) Co., Ltd, and own 40% shares of Medgenn (Hong Kong) Co., Ltd. Medgenn (Hong Kong) Co., Ltd has already negotiated on the overseas development of
Endostar with Harvard University and Pfizer Pharmaceuticals Limited, but has not signed any formal agreement yet. 
 III. Production 
 1. YANTAI MEDGENN has relevant technologies and capacities that could satisfy the batch production of Endostar, and the quality of Endostar is qualified and stable.

 2. As the inventor of Endostar, the Transferor shall provide technical support so that the quality of Endostar always satisfies relevant quality
standards, and ensure that the manufacturing technologies regarding Endostar satisfy the requirements concerning mass production. 
 3. If Endostar’s
normal production or enlarged production encounter technical problems, the Transferor shall solve said problems in time with its professional abilities. 
 IV. Financial Issues 
 All records in vouchers of YANTAI MEDGENN, which is confirmed by the Transferor, shall be true and legal, and do not contain
any material mistake or discrepancy. 
 V. Taxation 
 Before the
effective date of this Agreement, YANTAI MEDGENN has already and will continue to pay to taxation authority or other competent authority in P.R.C or elsewhere the taxation due or payable arising from or in respect of its business, assets and
liabilities. 
 VI. Disputes, Debt, Litigations, Arbitrations 
 1. To the knowledge of the Transferor, any and all agreements that YANTAI MEDGENN has already signed are necessary for YANTAI MEDGENN’s normal operation, and YANTAI MEDGENN is not aware of any existing claims or any matters which might
cause material potential claims, or cause material harm to YANTAI MEDGENN or its shareholders’ interests. There is no omission, disguise or mislead that might affect the trueness and accuracy of said representation. 

 2. To the knowledge of the Transferor, ANTAI MEDGENN has no other debt, potential debt, contingent debt, and there is no
omission, disguise or mislead that might affect the trueness and accuracy of said representation. 
 3. To the knowledge of the Transferor, YANTAI MEDGENN
complies with relevant laws and local regulations in all material respects, there is no administrative order, adjudication or award which may cause materially adverse effects to YANTAI MEDGENN’s assets or business, and there is no pending
material litigation or arbitration. There is no omission, disguise or mislead that might affect the trueness and accuracy of said representation. 
 4. There
is no seizure, attachment, enforcement or other procedures, for example insolvency and liquidation, involving YANTAI MEDGENN’s assets. There is no omission, disguise or mislead that might affect the trueness and accuracy of said representation.

 VII. Insurance 
 YANTAI MEDGENN maintains insurance policies
covering its operating assets with proper cautiousness, and has already implemented social insurance for its employees in accordance with requirements of relevant laws and regulations. 
 VIII. Intellectual Property 
 1. The representations concerning Endostar’s patent rights made by the Transferor to the
Transferee are true (The Transferor shall list all conditions concerning Endostar’s patent rights in the list of intangibles attached to this Agreement. 
 2. All know-how, copyrights, trademarks and other similar intellectual property rights (the patent rights shall be subject to special articles provided herein), which are or may be important to YANTAI MEDGENN’s operation, are legally
or actually owned by or exclusively licensed to YANTAI MEDGENN. In addition, such rights shall be free of any restriction from a third party. 
 3. YANTAI
MEDGENN’s proprietary confidential core technology, Protein Renaturation Technology, shall be kept in writing. Such technology could be fully grasped, by reading said written record, by a person with due authorization other than the key
technician who now grasps such technology so as to satisfy YANTAI MEDGENN’s manufacturing. 

 4. To sell Endostar overseas, YANTAI MEDGENN’s has already carried out overseas cooperation and correspondingly
granted some authorization concerning Endostar’s overseas registration and overseas sale. Such cooperation and authorization shall not affect YANTAI MEDGENN’s ownership to Endostar and relevant patents and know-how. 
 IX. Interval 
 1. During the period from the signing date of this Agreement
to the completion date of the registration of change with competent industrial and commercial administration (“Interval”), YANTAI MEDGENN shall: 
 (1) operate legally and normally and abide by all agreement it signed as before; 
 (2) maintain the legal existence of YANTAI MEDGENN and pay
taxation in accordance with relevant laws; and 
 (3) keep all documents correct and full. 
 2. During the Interval, unless getting the Transferee’s prior written consent, the Transferor and YANTAI MEDGENN shall not do any things which are subject to the approved of the board of directors. 
 3. During the Interval, if any matter occurs, which will cause material change or effects to the representations and warranties made by the Transferor, the Transferor
shall promptly disclose such matter to the Transferee in writing. 

 Schedule III: Some Agreements Following the Share Transfer 
 1. The Transferor and the Transferee confirm that the Transferee shall keep 6,006,645 shares in YANTAI MEDGENN after the share transfer. In consideration
of the Transferor’s requirements, the Transferee shall continue to accept the transfer of shares from the Transferee in accordance with time schedule listed hereinafter. 
 2. The consideration for each share shall be RMB 8.965, and the time schedule for the share transfer shall be as follow: 
 2.1 The Transferee shall accept the transfer of 1,496,365 shares in YANTAI MEDGENN from the Transferor at the first anniversary of the date that the share
transfer contemplated hereunder is completed; 
 2.2 The Transferee shall accept the transfer of 1,496,365 shares in YANTAI MEDGENN from the
Transferor at the second anniversary of the date that the share transfer contemplated hereunder is completed; 
 3. When carry out aforesaid
share transfer, parties hereto shall otherwise enter into an agreement by reference to terms and conditions of this Agreement, and go through relevant formalities. 
 3. The subsequent share transfer shall be subject to the due performance of the Transferor’s obligations under this Agreement and the successful implementation of the production and the enlarged production of
Endostar in YANTAI MEDGENN. 
 4. After the competition of the subsequent share transfer, the Transferor shall remain 3,012,815 shares in
YANTAI MEDGENN.

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