Document:

Articles of association of Beijing Yuande Bio-Medical Engineering Co., Ltd.,

 Exhibit 4.8 
  

TRANSLATION 
 (FOR REFERENCE
PURPOSE ONLY) 
  
 Sino-foreign investment enterprise

  
 Beijing Yuande Bio-Medical Engineering Co., Ltd. 
  
 Articles of Association 
  
 SECTION 1 - GENERAL 
  

			
	Article 1.	  	In order to establish the legal status of Beijing Yuande Bio-Medical Engineering Co., Ltd. (hereinafter referred to as the “Company”), standardize the organization and action
of the Company, protect the lawful interests of the Company, the parties to the Company and the creditors, so as to turn it into a self-developing, self-binding and well-functioned mechanism, Beijing Chengxuan Economic and Trade Co., Ltd.
(hereinafter referred to as “Chengxuan”), Golden Meditech (BVI) Company Limited (hereinafter referred to as “Meditech”), and GE (China) Co., Ltd. (hereinafter referred to as “GE”) – jointly
referred to as “parties to the Company” and unilaterally referred to as “the party of the Company” – based on the “Company Law Of the People’s Republic of China”, “Sino-foreign investment
enterprise Laws of the People’s Republic of China”, and the provisions of relevant laws and regulations, formulate the Articles of Association (hereinafter referred to as the “Articles”).
		
	Article 2.	  	The Company is a Sino-foreign investment enterprise established upon approval by the relevant examination and approval authorities. The Company is registered with the Beijing Administration
for Industry and Commerce. The Company is incorporated on 26th July, 1999.
		
	Article 3.	  	The Company is named “Beijing Yuande Bio-Medical Engineering Co., Ltd.” and its legal address is at No. 24 Yongchang Road North Road, Beijing Economic-Technological Development
Area, Beijing 100176.

  

 1 

					
	 Article 4.
	  	The Company shall be governed and protected by the laws of the PRC. The activities of Company shall abide by the laws, regulations and relevant rules of the PRC.
		
	 Article 5.
	  	The Company shall be a limited liability company, an independent legal person, entitled to enjoy the civil rights and bear the civil liabilities according to the laws. In
compliance with the principles of holding shares at one’s own will, equity parity, joint profit-sharing, and joint undertaking of risks, the parties to the Company shall be held responsible for the Company in proportion to their respective
amount of contribution to the registered capital. The Company shall bear the liabilities subject to its entire assets.
		
	 Article 6.
	  	Upon unanimous consent of the board of directors and the approval by the relevant government departments, the Company, according to the provisions of the laws and regulations in
China, is entitled to invest in other companies or enterprises in and out of China, or pay the admission fee to become the shareholder, the beneficial owner, the organizer or the member of the private non-enterprise units (confined to the industry
of medical treatment and medical practitioners) or legal bodies (confined to the industry of medical equipment). However, the Company shall not become the shareholder, partner or member bearing unlimited liabilities for other profit-making
organizations or non-profitable organizations (no matter whether they are the legal persons or not).
		
	 Article 7.
	  	Upon unanimous consent of the board of directors and the approval by the relevant government departments, the Company is entitled to set up branches in and out of
China.
	
	SECTION 2 - PARTIES TO THE COMPANY

  

					
	 Article 8.
	  	The parties to the Company are as follows:
			
	 	  	(a)	  	Beijing Chengxuan Economic and Trade Co., Ltd.: a limited liability company incorporated under the laws of the People’s Republic of China (the “PRC”), with its legal
address at No. 13 Taoranting Road, Xuanwu District, Beijing, China.
			
	 	  	 	  	 Authorized Representative: Xiaodong Wu
 Position:
Executive Director
 Nationality: Chinese

  

 2 

					
	 	 	 (b)
	  	Golden Meditech (BVI) Company Limited: a limited liability company incorporated under the laws of the British Virgin Islands, with its registered address at P.O. Box 957, Offshore
Incorporations Centre, Road Town, Tortola, British Virgin Islands.
			
	 	 	 	  	 Legal Representative: Kam Yuen
 Position:
Director
 Nationality: Chinese

			
	 	 	 (c)
	  	GE (China) Co., Ltd.: a foreign investment company established under the laws of the PRC, with its legal address at 17th Floor, Henglong Square, No. 1266, Nanking West Road, Jinan District, Shanghai 200040, China
			
	 	 	 	  	 Legal Representative: Steve Schneider
 Position:
Chairman of the Board of Directors and
                 the Chief Executive
Officer
 Nationality: The United States of America

	
	SECTION 3 - OBJECTIVES AND SCOPE OF OPERATION OF THE COMPANY
		
	 Article 9.
	 	The operation objectives of the Company are: to make use of the advanced modern technology and the scientific management methods to develop the Company into a medical equipment
enterprise with international competitiveness, so as to obtain satisfactory economic benefits for the parties to the Company.
		
	 Article 10.
	 	The scope of operation of the Company covers: medical equipment, the technical development of biological and medical engineering, technical services, technical training, manufacture
and sales (except the projects without special licensed permission).
		
	 Article 11.
	 	The Company, based on the requirements for business development, is entitled to adjust its scope of operation, upon unanimous consent of the board of directors and the approval by
the relevant government departments.

  

 3 

 SECTION 4 - TOTAL INVESTMENT, REGISTERED CAPITAL AND CAPITAL CONTRIBUTION 
  

					
	 Article 12.
	  	The total investment of the Company is RMB One Hundred Sixty Million (RMB160,000,000) only.
		
	 Article 13.
	  	The registered capital of the Company is RMB Sixty-seven Million and One Hundred Thousand (RMB67,100,00)
only and fully contributed by the parties to the
Company.
		
	 Article 14.
	  	The means and proportion of capital contribution by the parties to the Company are as follows:
			
	 	  	(a)	 	The capital contribution subscribed by Chengxuan is RMB Forty Million and Two Hundred Sixty Thousand (RMB40,260,000) only, taking 60% of the registered capital;
			
	 	  	(b)	 	The capital contribution subscribed by Meditech is in U. S. Dollars equivalent to RMB Sixteen Million and Seven Hundred Seven-five Thousand (RMB16,775,000) only, taking 25% of the registered
capital;
			
	 	  	(c)	 	The capital contribution subscribed by GE is in U. S. Dollars equivalent to RMB Ten Million and Sixty-five Thousand (RMB10,065,000) only, taking 15% of the registered
capital.
		
	 Article 15.
	  	Based on the issue of the report on the capital examination by the registered accountant employed by the Company,
the Company shall sign and issue the capital verification
certificate. The main contents of the capital verification
certificate are: the name of the Company, the date of incorporation, the names of the parties to the Company and their
respective capital contribution, the date of capital contribution
and the date of issuing the capital verification
certificate etc.
		
	 Article 16.
	  	Within the term of the Company, the Company shall not reduce the registered capital. In case of the actual need for
such reduction due to the changes in the total investment
and the scope of production and operation etc., it shall be
subject to the unanimous consent of the board of directors and the approval by the relevant government departments.
		
	 Article 17.
	  	The increase of the registered capital of the Company shall be subject to the unanimous consent of the parties to the
Company and the approval by the original examining and
approving organization. In the case of increasing the
registered capital, the parties to the Company shall be entitled to subscribe for the increase of the capital contribution
in proportion to their respective capital
contribution.

  

 4 

			
		
	 Article 18.
	  	Without the prior written consent of GE, Chengxuan and Meditech shall not directly or indirectly transfer or attempt to transfer their respective capital contribution or any equity interests
in the Company to any GE Competitor (defined hereunder), and shall not conclude any contract, agreement or arrangement for such equity for the benefit of those competitors. For the purpose of this paragraph, “GE Competitor” means
any Entity which is directly or indirectly engaged or participates anywhere in the world in the research, development, manufacture, assembly, distribution or sale of medical imaging equipment, or patient monitoring equipment or information systems
for use with such equipment or services related to the foregoing.
		
	 	  	Without the prior written consent of Meditech, Chengxuan and GE shall not directly or indirectly transfer or attempt to transfer their respective capital contribution or any equity interests
in the Company to any Meditech Competitor (defined hereunder), and shall not conclude any contract, agreement or arrangement for such equity for the benefit of those competitors. For the purpose of this paragraph, “Meditech
Competitor” means Medtronic, Inc., Baxter International Inc., Haemonetics Corporation or Fresenius Kabi or their respective Affiliates.
		
	 Article 19.
	  	Without the prior consent of other parties to the Company, any party to the Company shall not set pledge or any other guaranteed interests against the equity of the Company held by such
party.
		
	 Article 20.
	  	The transfer of part of all of its equity of the Company by a party to the Company shall be conducted according to the relevant terms of the Sino-foreign investment enterprise contract signed
by all parties to the Company on 12th May 2004 (hereinafter referred to as “the Contract”).
	
	SECTION 5 - THE BOARD OF DIRECTORS
		
	 Article 21.
	  	The Company sets up the board of directors which is the highest power organ of the Company. The board of directors comprises three directors. One of them is appointed by Chengxuan, one by
Meditech, and one by GE. The director appointed by Chengxuan shall be the sole chairman of the board of director.

  

 5 

					
	 	  	The chairman shall be the legal representative of the Company. Without being empowered by the board of directors, the chairman shall not sign on behalf of the Company any contract
or agreement related to the matters which shall be passed by resolution in the board meeting.
		
	 Article 22.
	  	The tenure of each director is four (4) years. The director may be replaced by the appointing party at any time. The director may serve consecutive terms upon re-appointment by
the original appointing party. In the event of any vacancy for the director taking up the duties for the board of directors due to the director’s retirement, resignation, replacement, loss of competent capacity or death, the original appointing
party shall appoint the successor for that director until the remaining tenure of that director expires. All parties to the Company, in the appointment or replacement of the director, shall give prior written notice to other parties to the Company.
The appointment and replacement of the director, the designation of the chairman and the changes of the Company and other parties shall take effect immediately upon receipt of such notice.
		
	 Article 23.
	  	For any claim or responsibility arising from taking up the director’s duties for the Company and the performance of the duties as the director of the Company against any
director, as long as it is not due to the willful or improper act or significant negligence or criminal offence committed by that director, the Company shall try its best to assist that director in dealing with such claim or responsibility so that
the director shall not be liable to being held responsible, and shall compensate the director being claimed and held responsible for all losses thus incurred.
		
	 Article 24.
	  	The board of directors shall decide on all significant matters of the Company. Its terms of reference are as follows:
			
	 	  	(a)	  	to decide on the development, direction and the long-term development planning of the Company;
			
	 	  	(b)	  	to amend the articles of association of the Company;
			
	 	  	(c)	  	to decide on the increase, reduction or transfer of the registered capital of the Company;
			
	 	  	(d)	  	to decide on the merger, de-merger, change of organization pattern or re-structure of the Company;
			
	 	  	(e)	  	to decide on the termination and dissolution of the Company;

  

 6 

					
			
	 	  	(f)	  	to decide on the investment of the Company in other companies or entities;
			
	 	  	(g)	  	to decide on the significant business changes of the Company;
			
	 	  	(h)	  	to approve the dealing between the Company and any party to the Company or its affiliate;
			
	 	  	(i)	  	to approve the Company to provide any third party with the guarantee in any form or to agree to take up responsibilities jointly and severally;
			
	 	  	(j)	  	to approve to obtain from any third party a loan in one lump sum (including the financing for profit-sharing obligations) exceeding the amount of RMB Twenty Million (RMB20,000,000) (including
the principal), and within one fiscal year, to obtain from any third party various loans (including financing for profit-sharing obligations) totaling RMB Fifty Million (RMB50,000,000) (including the principal);
			
	 	  	(k)	  	to employ the external accountant or auditor for the Company;
			
	 	  	(l)	  	to approve the annual financial statements, the income and expenditure budget, the annual profit distribution scheme and the loss compensation schemes etc.;
			
	 	  	(m)	  	to decide on the amortization of the reserve fund, the enterprise development fund, and the employees’ welfare and incentive fund;
			
	 	  	(n)	  	to set up branches or other business venues;
			
	 	  	(o)	  	to appoint or dismiss the general manager, to employ or fire the deputy general manager, the chief accountant and the chief engineer etc. of the Company nominated by general
manager;
			
	 	  	(p)	  	to decide on the asset acquisition, mortgage, pledge, sale, lease or other matters other than the normal business operation;
			
	 	  	(q)	  	to set up the basic management system of the Company;
			
	 	  	(r)	  	other significant matters requiring the approval of the board of directors.
		
	Article 25.	  	The board meeting shall be convened at least once a year and be held at the address of the Company or the other venue specified by the board of directors.

  

 7 

					
	Article 26.	 	The board meeting shall be convened and presided by the chairman. In the event of his failure to convene, the chairman shall appoint the other director to be responsible for
convening and presiding the board meeting. Upon proposal together with the description of the contents intending to be discussed made to the chairman by more than one-third of the directors, the chairman shall, within 15 days upon receipt of that
proposal, convene an extra-ordinary board meeting.
		
	Article 27.	 	10 days prior to convening the board meeting, the chairman, shall provide all the directors with the written notice to convene the meeting. Such notice shall indicate explicitly the
contents, time, venue and agenda of the meeting. However, in the event that any director though having not received such notice, has in fact attended the board meeting, he shall be deemed to have given up the requirement for the written notice
stipulated by this article. Any resolution passed in the board meeting not having convened in compliance with the stipulation of the previous sentence shall be null and void.
		
	Article 28.	 	The board meeting shall be held only when two-thirds or more than two-thirds of all the directors are present.
		
	Article 29.	 	In the event of failure to attend the board meeting, the director may appoint a proxy in writing to attend the meeting on his/her behalf. In the event that the director appointed by
any party to the Company has not attended the board meeting without appointing any proxy to attend the meeting on his behalf, resulting in the failure to pass the resolutions regarding the matters indicated in the notice of meeting as the board
meeting is unable to comply with the quorum required by the articles of association, then the chairman shall, within 10 days after the original date of the meeting, provide all parties to the Company and their respective appointed directors again
with the written notice to convene the meeting by registered mail. All directors shall, within 10 days upon receipt of the registered mail, issue by fax or registered mail the notice to indicate whether they will be present or not. In the event of
the informed person’s failure to issue within the foregoing term the notice to indicate whether he/she will be present or not, to be present on time and to appoint any proxy to be present on his/her behalf, then, it shall no longer be necessary
to comply with the provisions of Article 28 and the board meeting may be convened in a normal manner. That director shall be deemed to have given up his/her voting right in this board meeting and his/her voting right shall not be counted as the
valid voting right for this board meeting. Other meeting rules shall still be applied to the procedure of the board meeting required by the articles of association.

  

 8 

					
	Article 30.	  	The minute of the board meeting shall be recorded in detail and signed by all the directors present and by any proxy (if any) present. The letter of authorization shall be
submitted at the same time. It shall be recorded in Chinese and such record shall be filed and kept by the exclusive person appointed by the chairman. Within the term of the Company, it shall not be manipulated or destroyed.
		
	Article 31.	  	The following matters shall only be passed unanimously by all the directors present at the board meeting:
			
	 	  	(a)	  	the development direction and the long-term development planning of the Company;
			
	 	  	(b)	  	the amendment of the articles of association of the Company;
			
	 	  	(c)	  	the increase, reduction or transfer of the registered capital of the Company;
			
	 	  	(d)	  	the merger, de-merger, change of organization pattern or re-structure of the Company;
			
	 	  	(e)	  	the termination and dissolution of the Company;
			
	 	  	(f)	  	the investment of the Company in other companies or entities;
			
	 	  	(g)	  	the significant business changes of the Company;
			
	 	  	(h)	  	the dealing between the Company and any party to the Company or its affiliate;
			
	 	  	(i)	  	the offer of the Company to any third party for the guarantee in any form or the agreement to take up responsibilities jointly and severally;
			
	 	  	(j)	  	to obtain from any third party a loan in one lump sum (including the financing for profit sharing obligations) exceeding the amount of RMB Twenty Million (RMB20,000,000) (including the
principal), and within one fiscal year, to obtain from any third party various loans (including the financing for profit sharing obligations) totaling RMB Fifty Million (RMB50,000,000) (including the principal);
			
	 	  	(k)	  	the employment of the external accountant or auditor for the Company;

  

 9 

					
	 	  	(l)	  	the approval of the annual financial statements, the income and expenditure budget, the annual profit distribution scheme and the loss compensation schemes etc.;
			
	 	  	(m)	  	the amortization of the reserve fund, the enterprise development fund, and the employees’ welfare and incentive fund;
			
	 	  	(n)	  	the establishment or cancellation of branches or other business venues;
			
	 	  	(o)	  	the asset acquisition, mortgage, pledge, sale, lease or other matters other than the normal business operation; and
			
	 	  	(p)	  	to specify the sole distributor or agent in any territory.
		
	Article 32.	  	Apart from the matters stipulated by Article 31 of the articles of association, resolution other matters of the board meeting shall other than decision in relation to Article 35,
Board decision must be approved by the majority of the Board. Each director has one vote.
		
	Article 33.	  	Unless the member of the Board is a management personnel of the Company, the member of the Board shall serve in such capacity without any remuneration.
		
	Article 34.	  	All reasonable costs incurred by the Directors in the performance of their duties as members of the Board shall be borne by the Company.
		
	Article 35.	  	The Company will have one General Manager and several Assistant General Manager. General Manager shall be nominated by Chengxuan and appointed by the Board. Assistant General Manager
shall be nominated by the General Manager and appointed by the Board. The term of the General Manager and the Assistant General Manager shall be for a period of four years, subject to renewal by the Board.
	
	SECTION 6 - MANAGEMENT
		
	Article 36.	  	The General Manager shall be in charge of the day-to-day operations and management of the Company, shall report to the Board, and shall carry out all matters entrusted to him by the
Board. The Assistant General Manager shall assist the General Manager in his day-to-day activities.
		
	Article 37.	  	The Company shall establish a department by the General Manager in accordance with the operation of the Company. Department managers shall be hired or dismissed by the General
manager. The department managers report to the General Manager.

  

 10 

					
		
	Article 38.	  	The General Manager is responsible and shall report to the Director and shall have the following rights:
			
	 	  	(a)	  	Managing the day-to-day operations of the Company and organizing the implementation of Board decision;
			
	 	  	(b)	  	Preparing the Annual Operating and Investment Plan;
			
	 	  	(c)	  	Drafting the plan for creating the Company’s internal department;
			
	 	  	(d)	  	Drafting the basic regulations within the Company;
			
	 	  	(e)	  	Drafting the specific regulations of the Company;
			
	 	  	(f)	  	Approving loans from third parties of no more than RMB20,000,000 (including financing for profit-sharing activities), and multiple loans in one fiscal year from any third party of no more
than RMB50,000,000;
			
	 	  	(g)	  	Submit to Board approval for Assistant General Manager, Chief Engineering and Chief Accountant;
			
	 	  	(h)	  	Hiring or dismissing management personnel other than the ones who need the Board’s appointment or discharge;
			
	 	  	(i)	  	Drafting policies regarding employee salary, benefit, welfare, bonus and deciding on hiring and firing of employees
			
	 	  	(j)	  	Recommend professional consultant to the Board; and
			
	 	  	(k)	  	Handling all other major issues as authorized and directed by the Board.
		
	 	  	A General Manager who is not a Board member shall be present at Board meeting but does not have the right to vote.
		
	Article 39.	  	General Manager shall report to the Board any important contacts and their implementation and the Company’s cash flow and operation, and shall guarantee the truthfulness of his
report.
		
	Article 40.	  	General Manager shall not exceed the rights given by the Board.
		
	 	  	If General Manager cannot fulfill its duty for cause, the Chairman of the Board may nominate an Assistant General Manager to conduct business on the General Manager’s
behalf.

  

 11 

			
		
	Article 41.	  	General Manager shall obey relevant laws, regulation and this Contract.
		
	Article 42.	  	After the approval of the Board, the Chairman, the Director of the Company can be nominated as General Manager and Assistant General Manager and other senior employee.
		
	Article 43.	  	General Manager and Assistant General Managers cannot hold a position in another business entity other than being a board member of such other entity (including but not limited to: general
manager, or assistant general manager or chief financial officer or other senor management), cannot participate in company or act for his own behalf to compete with the Company, or obtain profit from competition, cannot use its position obtaining
benefit for himself or take business opportunities from the Company.
		
	Article 44.	  	The Company shall have a Chief Operation Officer, a Chief Accountant, whom shall be nominated by the General Manager and approved by the Board. Chief Engineer and Chief Accountant are
responsible to the General Manager. Chief Operation Officer is responsible for the Company’s production, technology and quality. Chief Accountant is responsible for the Company’s accounting and financial matter.
		
	Article 45.	  	If any of the General Manager, Assistant General Manager, Chief Operation Officer and Chief Accountant requests to resign, he shall submit his resignation in writing 30 days in advance to the
Chairman.
		
	 	  	The above management shall be dismissed by the Board of Directors and shall be liable for damages if they willfully misconduct or materially negligent.
	
	SECTION 7 - FINANCE AND ACCOUNTING
		
	Article 46.	  	The Company shall pay or deduct or withhold taxes, as required by PRC Law.
		
	Article 47.	  	The accounting year of the company is from January 1 to December 31.
		
	Article 48.	  	All books, records and other documentation shall be written in Chinese.
		
	Article 49.	  	The accounts of the Company shall use RMB as recording currency and shall use the applicable exchange rate of the particular business day.

  

 12 

					
	Article 50.	  	The Company shall use accrued accounting system.
		
	Article 51.	  	The accounting books of the Company shall record the following information:
			
	 	  	(a)	  	All Company’s cash income and expense;
			
	 	  	(b)	  	All Company’s purchase and sale of material;
			
	 	  	(c)	  	The Company’s registered capital and its debt situation;
			
	 	  	(d)	  	The time the registered capital is paid, the increase and transfer of the registered capital.
		
	Article 52.	  	The accounting department of the Company shall submit a budget plan to the Board within the first three months of an accounting year. The plan shall include a balance sheet, an
income statement and a cash flow statement and related appendix. The plan shall be signed by Chief Accountant and approved by the Board.
		
	Article 53.	  	Each of the Parties has the right to hire an auditor to audit the company’s account. During the audit, the Company shall cooperate and the other parties shall
agree.
		
	Article 54.	  	The Board shall decide on the depreciation rate for fixed assets in accordance to the tax laws governing Sino-foreign enterprises.
		
	Article 55.	  	All foreign exchange matters shall be conducted in accordance with the foreign exchange rules and regulations of the PRC.
		
	Article 56.	  	To the extent certain accounting records and other documents need to be submitted to local governmental authorities pursuant to PRC and local government regulation, the Company
shall do so accordingly.
		
	Article 57.	  	The Company shall pay or deduct or withhold taxes, as required by PRC Law.
		
	Article 58.	  	The Company shall establish an internal audit system to monitor and audit internal inflow and outflow of funds and operational activities.
	
	SECTION 8 - PROFIT DISTRIBUTION AND LOSS SHARING
		
	Article 59.	  	The Company shall establish and maintain a reserve fund and a bonus and welfare fund for staff and workers from the Company’s profits after payment of all appropriate PRC
taxes in accordance with the relevant PRC laws and regulations. The Board of Directors shall decide upon expenditure from any of the above funds.

  

 13 

			
		
	Article 60.	  	All after-tax profits of the Company, after allocation to the funds referred to in Section 10.1 above, shall be declared and, at the discretion of the Board of Directors, distributed to the
parties in accordance to their respective percentage of registered capital.
		
	Article 61.	  	The Company shall pay dividends once a year and shall declare dividends three months after the end of the fiscal year. Losses incurred by the Company during any financial year may be made up
from the reserve fund or brought forward to the following fiscal year as decided by the Board of Directors. Profits from previous year which has not been distributed can be distributed in the following year.
		
	 	  	Article 62. The Parties share the Company’s losses in proportion to their respective investment amount.
	
	SECTION 9 - EMPLOYEE
		
	Article 63.	  	The Company’s labor plans, policies and provisions covering the recruitment, qualifications and testing, employment, training, dismissal and resignation, wages, labor safety, labor
insurance, social security, other welfare benefits, bonuses, labor discipline, retirement and other matters concerning the staff and workers of the Company shall be handled in accordance with the applicable laws and regulations.
		
	 	  	The Company shall negotiate and sign a labor contract with each of its staff and workers. Such labor contracts shall be filed with the relevant local labor authority if such filing is so
required.
		
	Article 64.	  	The Company shall have the right to dismiss staff and workers in accordance with their respective labor contracts and applicable PRC laws and regulations, to criticize, educate or take
disciplinary action against staff or workers for violation of the Company’s labor policies or provisions or their respective labor contracts.

  

 14 

			
	Article 65.	  	The Company shall pay salary in compliance with the regulation promulgated by Beijing Municipal government and should be stipulated in the employment contracts.
		
	Article 66.	  	The Company shall implement procedures with respect to employee welfare, bonus, work protection and insurance to ensure the proper conduct.
	  
 SECTION 10 - TRADE UNION
  

	Article 67.	  	The staff and workers of the Company have the right to establish a trade union organization and to participate in its activities in accordance with the stipulations of the Trade Union Law
of the People’s Republic of China.
		
	Article 68.	  	The trade union in the Company shall represent the interests of the staff and workers. The tasks of the trade union are to protect the democratic rights and material interests of the staff
and workers pursuant to PRC law, to organize professional, scientific and technical studies, to carry out literary, art and sports activities, and to educate staff and workers to observe labor disciplines and strive to fulfill the economic goals and
targets of the Company.
		
	Article 69.	  	Union representative shall have to right to be present at Board meetings regarding employee salary, bonus, welfare, work protection, insurance and discipline. The Board shall consider the
opinion of union and cooperate with union.
		
	Article 70.	  	Union has the right to participate in consultation of dispute between workers and the Company.
		
	Article 71.	  	If a trade union is established in the Company in accordance with the Trade Union Law, the Company shall allocate 2% of each month’s aggregate wages paid to staff and workers as trade
union funds, which shall be used by the trade union in accordance with the relevant control measures for trade union funds formulated by the All China Federation of Trade Unions.
	  
 SECTION 11 - TERMINATION, DISSOLUTION AND
LIQUIDATION
  

		
	Article 72.	  	The term of the Company shall be 50 years (the “Term”) from the date the Company obtains its business license.

  

 15 

					
	Article 73.	 	The term of this Contract may be extended if the Parties so desire and upon the unanimous approval of the Board, provided that such extension is approved by the Examination and
Approval Authority.
		
	Article 74.	 	The Company will dissolve upon the following events:
			
	 	 	(a)	  	The term of the Company expires;
			
	 	 	(b)	  	The Parties agree that it is in the best interest of all Parties and approved by the Board;
			
	 	 	(c)	  	One Party materially breaches this Contract or violates the Articles of Association and such breach or violation is not cured within thirty (30) days of written notice to the breaching
Party;
			
	 	 	(d)	  	The Company incurs loss, its net assets is lower than 50% of its registered capital, causing the inability of operating of the Company;
			
	 	 	(e)	  	The Company does not materially reach its business purpose and no development opportunity;
			
	 	 	(f)	  	the conditions or consequences of an event of Force Majeure have a material adverse effect on the business or normal functioning of the Company and the Parties have been unable to find an
equitable;
			
	 	 	(g)	  	Other reasons stated in the Company’s Article or this Contract that make it reasonable to dissolve the Company.
		
	 	 	Other than an event specified in (c) above, dissolution shall take place after the unanimous consent of all Directors attending the Board meeting and application of dissolution shall
be submitted by the Board and provided to regulatory authority for approval. If the event specified in (c) above takes place, the non-breaching party shall make such application and provide the application to regulatory authority for
approval.
		
	Article 75.	 	If the Company shall be wound up and liquidated, the Board shall form a liquidation committee (the “Liquidation Committee”),
		
	Article 76.	 	The Liquidation Committee shall be comprised of board members. The Liquidation Committee may hire PRC CPA and lawyers to assist on liquidation.

  

 16 

			
	Article 77.	  	The Liquidation Committee shall conduct a complete inspection of all properties, assets and liabilities of the Company, and shall create asset and liability index and valuate the Company
property and provide a base of its valuation, make liquidation plan and execute such plan after the Board approval.
		
	Article 78.	  	During liquidation, the Liquidation Committee shall sue or be sued on behalf of the company.
		
	Article 79.	  	The compensation for their services of members of the Liquidation Committee shall be paid first from the Company’s assets.
		
	Article 80.	  	The Company is responsible for all of its liabilities with its assets. The balance of the assets after paying all liabilities shall be distributed to each party in proportion to the
contribution of capital of each party, unless specified otherwise by this Contract.
		
	Article 81.	  	After the completion of liquidation, the Liquidation Committee shall issue a liquidation report, and submit it to the Board. After it is approved, submit it to relevant regulatory authority
and complete all necessary procedures.
		
	Article 82.	  	After the Liquidation of the Company, all documents and books shall be kept by the Chinese Party.
	
	SECTION 12 - RULES AND REGULATIONS
		
	Article 83.	  	The rules and regulations to be formulated by the Board of Directors of the Company shall include, without limitation:
		
	 	  	 (a)    Management regulations defining the roles and functions of the Company’s officers;

		
	 	  	 (b)    Internal labor plans, policies and provisions of the Company;

		
	 	  	 (c)    Financial authorizations and salary scales for staff and workers;

		
	 	  	 (d)    Employee assessment, promotion and demotion;

		
	 	  	 (e)    Employee benefit plan;

		
	 	  	 (f)     Finance policies;

  

 17 

			
	 	  	 (g)    Accounting policies;

		
	 	  	 (h)    Liquidation policy in time of liquidation; and

		
	 	  	 (i)     Other rules and regulations deemed necessary or advisable by the Board of Directors.

	
	SECTION 13 - SUPPLEMENTARY PROVISIONS
		
	Article 84.	  	Any amendment to these Articles of Association shall be subject to unanimous approval of the Board of Directors and the approval of the Examination and Approval Authority.
		
	Article 85.	  	If a dispute arises in connection with the interpretation or implementation of this Contract, the Parties shall attempt in the first instance to resolve such dispute through friendly
consultations. If the dispute is not resolved by consultation, the dispute shall be resolve in according to Section 18 of the Contract.
		
	Article 86.	  	These Articles of Association are written in Chinese.
		
	Article 87.	  	The Board can set up detailed implementation policies and plans in accordance with these Articles.
		
	Article 88.	  	These Articles of Association shall be submitted to the Examination and Approval Authority for approval and shall come into effect upon the date of the issuance of the Business License
following the approval hereof by the Examination and Approval Authority.

  

 18 

 IN WITNESS WHEREOF, each Party hereto has caused this Article to be executed by their duly
authorized representatives on May 12, 2004. 
  

			
	BEIJING CHENGXUAN ECONOMIC AND TRADE CO., LTD.
		
	By:	 	 /s/ [and chopped]

	 	 	Name:
	 	 	Title:
	
	GE (CHINA) CO., LTD.
		
	By:	 	 /s/

	 	 	Name:
	 	 	Title:
	
	GOLDEN MEDITECH (BVI) COMPANY LIMITED
		
	By:	 	 /s/

	 	 	Name:
	 	 	Title:

  

 19Shareholders' Agreement, dated as of January 19, 2005

 Exhibit 4.9 
  

EXECUTION COPY 
  

 
 SHAREHOLDERS’ AGREEMENT 
  

  
 By and among 
  
 GENERAL ELECTRIC INTERNATIONAL OPERATIONS COMPANY, INC. 
  
 GOLDEN MEDITECH (BVI) COMPANY LIMITED 
  
 CHENGXUAN
INTERNATIONAL LTD. 
  
 and 
  
 CHINA MEDICAL TECHNOLOGIES, INC. 
  
 Dated as of January 19, 2005 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

		
	ARTICLE 1 DEFINITIONS	  	2
			
	 SECTION 1.01
	  	CERTAIN DEFINED TERMS	  	2
	 SECTION 1.02
	  	DEFINITIONS	  	4
	 SECTION 1.03
	  	INTERPRETATION AND RULES OF CONSTRUCTION	  	5
		
	ARTICLE 2 GOVERNANCE	  	6
			
	 SECTION 2.01
	  	COMPOSITION OF THE BOARD OF THE COMPANY	  	6
	 SECTION 2.02
	  	OBSERVER RIGHT	  	6
	 SECTION 2.03
	  	COMPOSITION OF THE BOARD OF DIRECTORS OF YDME	  	6
		
	ARTICLE 3 TRANSFER OF SHARES	  	7
			
	 SECTION 3.01
	  	LEGENDS	  	7
	 SECTION 3.02
	  	CERTAIN RESTRICTIONS ON SALE AND ENCUMBRANCE	  	7
	 SECTION 3.03
	  	RIGHTS OF FIRST REFUSAL	  	8
	 SECTION 3.04
	  	CO-SALE RIGHTS/TAG ALONG RIGHTS	  	10
	 SECTION 3.05
	  	BUY-SELL ARRANGEMENT BETWEEN CHENGXUAN AND GE AND MEDITECH	  	12
	 SECTION 3.06
	  	IMPROPER SALE OR ENCUMBRANCE	  	13
	 SECTION 3.07
	  	TRANSFEREE TO EXECUTE	  	14
	 SECTION 3.08
	  	NOTE PURCHASE AGREEMENT	  	14
		
	ARTICLE 4 BOOKS AND RECORDS; FINANCIAL STATEMENTS	  	14
			
	 SECTION 4.01
	  	BOOKS AND RECORDS; FINANCIAL STATEMENTS	  	14
	 SECTION 4.02
	  	REPORTING REQUIREMENTS	  	15
		
	ARTICLE 5 ADDITIONAL AGREEMENTS	  	16
			
	 SECTION 5.01
	  	NEW INVESTORS TO EXECUTE AGREEMENT	  	16
	 SECTION 5.02
	  	RIGHTS TO PURCHASE NEW SECURITIES	  	16
	 SECTION 5.03
	  	FURTHER ASSURANCES	  	17
	 SECTION 5.04
	  	USE OF NAMES	  	18
	 SECTION 5.05
	  	USE OF CLINICAL DATABASE	  	18
	 SECTION 5.06
	  	NO EXCLUSIVITY; CORPORATE OPPORTUNITY	  	18
	 SECTION 5.07
	  	TRANSACTIONS BETWEEN THE COMPANY AND THE SHAREHOLDERS OR
THEIR AFFILIATES	  	19
	 SECTION 5.08
	  	CONFIDENTIAL INFORMATION	  	20
	 SECTION 5.09
	  	INITIAL PUBLIC OFFERING	  	20
	 SECTION 5.10
	  	BUSINESS CONDUCT	  	20
		
	ARTICLE 6 INDEMNIFICATION	  	21
			
	 SECTION 6.01
	  	INDEMNIFICATION OF COVERED PERSONS	  	21
		
	ARTICLE 7 MISCELLANEOUS	  	21
			
	 SECTION 7.01
	  	TERM	  	21
	 SECTION 7.02
	  	EXPENSES	  	21
	 SECTION 7.03
	  	NOTICES	  	21
	 SECTION 7.04
	  	PUBLIC ANNOUNCEMENTS	  	23
	 SECTION 7.05
	  	SEVERABILITY	  	23

  

 i 

					
	 SECTION 7.06
	  	TIME IS OF ESSENCE	  	24
	 SECTION 7.07
	  	WAIVER	  	24
	 SECTION 7.08
	  	AMENDMENT	  	24
	 SECTION 7.09
	  	ASSIGNMENT AND SUCCESSION	  	24
	 SECTION 7.10
	  	NO THIRD PARTY BENEFICIARIES	  	24
	 SECTION 7.11
	  	SPECIFIC PERFORMANCE	  	24
	 SECTION 7.12
	  	GOVERNING LAW	  	24
	 SECTION 7.13
	  	HEADINGS	  	25
	 SECTION 7.14
	  	COUNTERPARTS	  	25

  
 Schedule A Ownership of Ordinary
Shares 
  

 ii 

 THIS SHAREHOLDERS’ AGREEMENT (this “Agreement”), is made as of January 19, 2005, by
and among: 
  
 A. CHINA MEDICAL TECHNOLOGIES, INC., a company
incorporated in the Cayman Islands with limited liability with its registered address at Walkers SPV Limited, Walker House, Mary Street, PO Box 908GT, George Town, Grand Cayman, Cayman Islands (the “Company”); 
  
 B. CHENGXUAN INTERNATIONAL LTD., a company incorporated in the British Virgin
Islands with limited liability with its registered address at The Mill Mall, PO Box 92, Road Town, Tortola, British Virgin Islands, (“Chengxuan”); 
  
 C. GENERAL ELECTRIC INTERNATIONAL OPERATIONS COMPANY, INC., a company incorporated in Delaware, the United States with its
registered address at Corporate Trust Center, 1209 Orange Street, City of Wilmington, County of New Castle, State of Delaware, United States of America, (“GE”); and 
  
 D. GOLDEN MEDITECH (BVI) COMPANY LIMITED, a company incorporated in the British Virgin Islands with limited liability with
its registered address at P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands (“Meditech”). 
  
 RECITALS 
  
 WHEREAS, the Company, Chengxuan, GE and Meditech are parties to a Subscription Agreement, dated as of January 19, 2005 (the “Subscription
Agreement”), pursuant to which Chengxuan, GE and Meditech have agreed to subscribe for an aggregate of 200,000,000 Ordinary Shares, par value U.S.$0.1 per share, of the Company (the “Ordinary Shares”); 
  
 WHEREAS, each Shareholder owns the number of Ordinary Shares set forth
opposite the name of such Shareholder in Schedule A hereto as of the date of this Agreement; 
  
 WHEREAS, the parties hereto desire to provide certain rights and obligations of the Shareholders and the Company with respect to the Ordinary Shares as hereinafter provided; and 
  
 WHEREAS, the Company’s and the Shareholders’ obligations under the
Subscription Agreement are conditioned upon the execution and delivery by the Shareholders and the Company of this Agreement; 
  
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual representations, covenants and agreements contained herein, and for other
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  

 1 

 ARTICLE 1 
  

DEFINITIONS 
  
 SECTION 1.01 Certain Defined Terms. For the purposes of this Agreement: 
  
 “Affiliate” means, with respect to any specified Person who is an individual, such
Person’s spouse and children under 18, and with respect to other specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such specified
Person. 
  
 “Board” means the
board of directors of the Company. 
  
 “Business” means the research, development, production, marketing, distribution and sale by the Company’s subsidiary, YDME of medical devices and equipment, including but not limited to high intensity-focused
ultrasonic devices for treatment of tumors. 
  
 “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law to be closed in the PRC. 
  
 “Capital Stock” means, with respect to any Person at any time, any and all shares,
interests, participations or other equivalents (however designated, whether voting or non-voting) of share capital, capital stock, partnership interests (whether general or limited), limited liability company interests or equivalent ownership
interests in such Person. 
  
 “Control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise, including, without limitation, the ownership, directly or indirectly, of securities having the power to elect a majority
of the board of directors or similar body governing the affairs of such Person. 
  
 “Covered Person” means a Shareholder or any Affiliate of a Shareholder and their successors and assigns, and any officer,
director, manager, shareholder, employee, partner or member of a Shareholder, its Affiliates or their successors and assigns. 
  
 “Director” means a Person who is a member of the Board. 
  
 “EBITDA Interest Ratio” means, with respect to any period of time, the earnings before
interest, tax, depreciation and amortization for such period divided by interest incurred during such period, computed based on the financial statements for such period filed with relevant tax authorities in accordance with the following formula:
(net income + interest + income tax + depreciation + amortization)/interest. 
  

 2 

 “Encumbrance” means, with respect to any property, any mortgage, charge,
pledge, lien, lease, easement, servitude, right of others, security interest or encumbrance of any kind in respect of such property (including any conditional sale or other title retention agreement, any financing or similar statement or notice).

  
 “Exchangeable Note” means
the exchangeable note issued on June 29, 2004 by Chengxuan to Green Wall Development Ltd., exchangeable for certain Ordinary Shares held by Chengxuan. 
  
 “GE Competitor” means any Person which directly or indirectly engages or participates anywhere in the world in research,
development, manufacturing, assembly, distribution or sale of medical imaging equipment, or patient monitoring equipment or information systems for use with such equipment or services related to the foregoing. 
  
 “Initial Public Offering” means the first
underwritten public offering of the Ordinary Shares of the Company or American Depositary Shares representing such Ordinary Shares on an internationally recognized stock exchange or automated securities trading system with total offering proceeds of
at least U.S. $25 million, after the payment of all fees and expenses of such offering. 
  
 “Meditech Competitor” means any Person which directly or indirectly engages or participates anywhere in the world in
research, development, manufacturing, assembly, distribution or sales of medical equipment related to blood recovery, blood purification, blood preservation and virus inactivation or provision of blood stem cells storage facilities or accessories
services or drug to combat against HIV infection. 
  
 “New Securities” means any Capital Stock of the Company, including rights, options and warrants to purchase Capital Stock of the Company, and any security convertible into Capital Stock of the Company. 
  
 “Note Purchase Agreement” means the Note
Purchase Agreement dated as of June 29, 2004 between Chengxuan and Green Wall Development Ltd. with respect to the Exchangeable Note. 
  
 “Option Exercise Agreement” means the Option Exercise Agreement dated as of November 16, 2004 between GE (China) Co.,
Ltd. and Chengxuan pursuant to which GE (China) Co. Ltd. acquired a 4.99% equity interest in YDME from Chengxuan. 
  
 “Original Share Price” means US$0.099308 per Ordinary Share, subject to adjustment to reflect any stock dividend,
split-up, reverse stock split, share redemption or repurchase, recapitalization, consolidation, exchange of shares or similar transaction or any other extraordinary change in the Ordinary Shares (including, without limitation, the declaration or
payment of an extraordinary dividend of cash, securities or property) occurring after the date hereof. 
  
 “Permitted Transferee” means, with respect to a specified Person, (i) any Affiliate of such Person, (ii) a donee of
Ordinary Shares who is a member of the family of such Person or any trust for the benefit of any such family member and (iii) a transferee of Ordinary Shares who receives such Ordinary Shares by will or the laws of descent and distribution. For
purposes of this definition, the word “family” shall include any spouse, lineal ancestor or descendant, brother or sister. 
  

 3 

 “Person” means any individual, partnership, firm, corporation, limited
liability company, association, trust, unincorporated organization or other entity. 
  
 “PRC” means the People’s Republic of China, excluding the Hong Kong Special Administrative Region, the Macao Special
Administrative Region and Taiwan. 
  
 “Sale” means, in respect of any Ordinary Share, property or other asset, any sale, assignment, transfer, distribution or other disposition thereof or any participation therein, or other conveyance of legal or beneficial
interest therein, or any short position in a security or any other action or position otherwise reducing risk related to ownership through hedging or other derivative instruments, whether voluntarily or by operation of law or any agreement or
commitment to do any of the foregoing. 
  
 “Shareholders” means Chengxuan, GE and Meditech and any other signatory hereto who is deemed a “Shareholder” pursuant to the terms of this Agreement. 
  
 “Supply Agreement” means the GE Ultrasonic Equipment Supply Agreement, dated as of March
19, 2003, between YDME and GE (China) Co., Ltd., as amended. 
  
 “Third Party” means, with respect to any Shareholder, any other Person (other than a Permitted Transferee of such Shareholder). 
  
 “YDME” means, Beijing Yuande Bio-Medical Engineering Co., Ltd., a wholly foreign-owned
enterprise established under the laws of the PRC. 
  
 SECTION 1.02
Definitions. The following terms have the meanings set forth in the Section set forth opposite such term: 
  

			
	 Definition

	  	Location

	 “Accepting Party”
	  	3.03(c)(iii)
	 “Accepted Shares”
	  	3.03(c)(iii)
	 “Agreement”
	  	Preamble
	 “Auditors”
	  	4.01(a)
	 “Chengxuan”
	  	Preamble
	 “Chengxuan Entity”
	  	3.04(a)
	 “Company Exclusivity Period”
	  	5.06(b)(ii)
	 “Company”
	  	Preamble
	 “Designated Shares”
	  	3.04(a)
	 “Exercise Notice”
	  	5.02(b)
	 “GE Exclusivity Period”
	  	5.06(c)(ii)
	 “GE”
	  	Preamble
	 “Losses”
	  	6.01
	 “Material Event”
	  	3.05(b)
	 “Meditech”
	  	Preamble
	 “Notice of Election”
	  	3.03(c)(ii)
	 “Notice of Issuance”
	  	5.02(b)
	 “Offer”
	  	3.03(a)

  

 4 

			
	 Definition

	  	Location

	 “Offer Notice”
	  	3.03(a)
	 “Offer Period”
	  	3.03(c)(ii)
	 “Offer Price”
	  	3.03(a)
	 “Offered Shares”
	  	3.03(a)
	 “Opportunity Notice”
	  	5.06(b)(i)
	 “Ordinary Shares”
	  	Recitals
	 “Other Shareholder”
	  	3.03(a)
	 “Project Notice”
	  	5.06(c)(i)
	 “Proposed Offeree”
	  	5.02
	 “Proposed Transferee”
	  	3.04(a)
	 “Prospective Seller”
	  	3.03(a)
	 “Prospective Transferee”
	  	3.07
	 “Reallotment Securities”
	  	5.02(c)
	 “Response Period”
	  	3.04(d)
	 “Sales Offer”
	  	3.04(a)
	 “Subscription Agreement”
	  	Recitals

  
 SECTION 1.03
Interpretation and Rules of Construction. In this Agreement, except to the extent that the context otherwise requires: 
  

	 	(i)	when a reference is made in this Agreement to an Article, Section Schedule, Preamble or Recitals, such reference is to an Article, Section, Preamble or Recitals of, or a Schedule
to, this Agreement unless otherwise indicated; 

  

	 	(ii)	the table of contents and headings for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement;

  

	 	(iii)	whenever the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed by the words “without
limitation”; 

  

	 	(iv)	the words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to
any particular provision of this Agreement; 

  

	 	(v)	all terms defined in this Agreement have the defined meanings when used in any certificate or other document made or delivered pursuant hereto, unless otherwise defined therein;

  

	 	(vi)	the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; 

  

	 	(vii)	any law defined or referred to herein or in any agreement or instrument that is referred to herein means such law or statute as from time to time amended, modified or supplemented,
including by succession of comparable successor laws; 

  

	 	(viii)	references to a Person are also to its permitted successors and assigns; and 

  

	 	(ix)	the use of “or” is not intended to be exclusive unless expressly indicated otherwise. 

  

 5 

 ARTICLE 2 
  

GOVERNANCE 
  
 SECTION 2.01 Composition of the Board of the Company. 
  
 (a) Initially, the Board shall consist of five Directors. From the date hereof until such time as the parties hereto otherwise agree, Chengxuan shall have
the right to nominate two Directors and Meditech shall have the right to nominate one Director. In addition, there shall be two independent Directors nominated by Chengxuan to the Board of the Company. The Shareholders agree to take all necessary
action to appoint such nominees. If any vacancy occurs on the Board, the Shareholder entitled to nominate such outgoing Director shall have the right to nominate a replacement therefor, and the Shareholders agree to take all necessary action to
appoint such replacement nominee. 
  
 (b) After an Initial Public
Offering, the Company may increase the size of the Board and increase the number of independent Directors as necessary to comply with the applicable listing requirements of the stock exchange or automated securities trading system on which the
Ordinary Shares or American Depositary Shares representing the Ordinary Shares are traded. 
  
 SECTION 2.02 Observer Right. 
  
 A representative of GE may attend all meetings of the Board in a nonvoting capacity; provided that such representative shall not disclose any business of the Board to any Person, other than GE or its Affiliate, or except as in
accordance with Section 5.08. The Company shall give written notice to GE at least ten days prior to each meeting of the Board, specifying the time, place and agenda of such meeting. Such representative shall be entitled to receive (i) all documents
and materials submitted to the Board for review or approval, (ii) true and complete copies of minutes of all Board meetings and (iii) any other information given to any Director in the same manner and at the same time as such documents, materials
and information are given to any such Director. The Company shall reimburse GE’s representative for reasonable expenses incurred by such representative in connection with the Board meetings consistent with the Company’s reimbursement of
the Directors. 
  
 SECTION 2.03 Composition of the Board of
Directors of YDME. 
  
 The board of directors of YDME shall
consist of three directors (the “YDME Directors”). From the date hereof until such time as the parties hereto otherwise agree, Chengxuan shall have the right to nominate one YDME Director, Meditech shall have the right to nominate
one YDME Director, and GE shall have the right to nominate one YDME Director. The Company shall appoint the candidates nominated by Chengxuan, Meditech and GE to the board of directors of YDME. If any vacancy occurs on the board of directors of
YDME, the Shareholder entitled to nominate such outgoing YDME Director shall have the right to nominate a replacement therefor, and the Shareholders agree to take all necessary action to cause the Company to appoint such replacement nominee.

  

 6 

 ARTICLE 3 
  

TRANSFER OF SHARES 
  
 SECTION 3.01 Legends. (a) The Company shall affix to each certificate evidencing the Ordinary Shares issued to the Shareholders a legend in
substantially the following form: 
  
 “THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS SET FORTH IN A SHAREHOLDERS’ AGREEMENT DATED AS OF JANUARY 19, 2005, AS AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE REGISTERED OFFICE OF THE
ISSUER. NO REGISTRATION OF TRANSFER OF THESE SHARES WILL BE MADE ON THE REGISTER OF MEMBERS OF THE ISSUER UNLESS AND UNTIL SUCH RESTRICTIONS SHALL HAVE BEEN COMPLIED WITH.” 
  
 provided that, upon the termination of this Agreement, upon receipt by the Company of a written
request from the beneficial holder of the Ordinary Shares represented by such certificate, such legend shall be removed. 
  
 Prior to the registration of the Ordinary Shares under the US Securities Act of 1933, as amended, the Ordinary Shares will also bear a
legend to the following effect: 
  
 THE SHARES EVIDENCED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT
COVERING SUCH SECURITIES UNLESS THE ISSUER RECEIVES AN OPINION OF COUNSEL OR OTHER EVIDENCE REASONABLY SATISFACTORY TO THE ISSUER STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF SUCH ACT OR THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT. 
  
 (b) In the event that any Ordinary Share shall cease to be subject to the restrictions on transfer set forth in this Agreement, the
Company shall, upon the written request of the holder thereof, issue to such holder a new certificate evidencing such Ordinary Share without the legend required by Section 3.01(a). 
  
 SECTION 3.02 Certain Restrictions on Sale and Encumbrance. (a) (i) As long as GE remains a Shareholder, no other
Shareholder shall, without the prior written consent of GE, directly or indirectly make or solicit any Sale of, or create, incur or assume any Encumbrance with respect to, any Ordinary Share owned by such other Shareholder to or in favor of any GE
Competitor. 
  

 7 

	 	(ii)	As long as Meditech remains a Shareholder, no other Shareholder shall, without the prior written consent of Meditech, directly or indirectly make or solicit any Sale of, or create,
incur or assume any Encumbrance with respect to, any Ordinary Share owned by such other Shareholder to or in favor of any Meditech Competitor. 

  
 (b) No Shareholder shall, directly or indirectly (through the transfer of Capital Stock of any Person that holds, or controls any Person
that holds, such Ordinary Share), make or solicit any Sale of any Ordinary Share owned by such Shareholder, other than any Sale to a Permitted Transferee or any Sale in accordance with this Article 3. No Sale of Ordinary Share to a Permitted
Transferee shall be effective if a purpose or effect of such Sale shall have been to circumvent the provisions of this Section 3.02. 
  
 (c) No Shareholder shall create, incur or assume any Encumbrance with respect to any Ordinary Share owned by such Shareholder without the
prior written consent of each other Shareholder. 
  
 SECTION 3.03
Rights of First Refusal. (a) Subject to the rights of GE and Meditech under Sections 3.02(a), 3.04 and 3.05, if at any time during the term of this Agreement any Shareholder receives from or otherwise negotiates with a Third Party a bona fide
offer (an “Offer”) to purchase any Ordinary Share held by such Shareholder, prior to consummating such Sale, such Shareholder (the “Prospective Seller”) shall provide the other Shareholders (the “Other
Shareholders”) with written notice of such Offer (an “Offer Notice”). The Offer Notice shall identify the Third Party making the Offer, the number of Ordinary Shares to be purchased in the Offer (the “Offered
Shares”), the price per Ordinary Share to be paid (the “Offer Price”), the form of consideration proposed to be paid and all other material terms and conditions of the Offer. 
  
 (b) If the Offer Price specified in an Offer Notice is
payable in property other than cash, the Other Shareholders shall have the right to pay the Offer Price in cash in an amount equal to the value of such property at the time of payment. If the Prospective Seller and the Other Shareholders who wish to
purchase the Offered Shares (acting together) cannot agree on the cash value of such property within ten days after such Other Shareholders’ receipt of the Offer Notice, the value of such property shall be determined by an appraiser of
recognized standing selected jointly by the Prospective Seller and such Other Shareholders (acting together). If they cannot agree on an appraiser within 20 days after receipt of the Offer Notice, within a further five-day period, the Prospective
Seller and such Other Shareholders (acting together ) shall each select an appraiser of recognized standing and the two appraisers shall designate a third appraiser of recognized standing to determine the value of such property. The value of such
property shall be determined by the appraiser selected pursuant to this Section 3.03(b) within one month from its appointment, and such determination shall be final and binding on the Prospective Seller and such Other Shareholders. The cost of such
appraisal shall be shared equally by the Prospective Seller, on the one hand, and such Other Shareholders, on the other hand (each Other Shareholder shall pay its pro rata portion of such costs based on the number of Offered Shares acquired
by each such Other Shareholder). If the Offer Period as specified in Section 3.03(c)(ii) has expired but for the determination of the value of the Offer Price offered by the Prospective Seller, then the Offer Period shall be extended to the fifth
Business Day after such valuation shall have been determined to be final and binding pursuant to this Section 3.03(b). 
  

 8 

 (c) (i) The receipt of an Offer Notice by the Other Shareholders from a Prospective
Seller shall constitute an offer by such Prospective Seller to sell to such Other Shareholders at the Offer Price any or all of the Offered Shares pro rata, in accordance with the following formula. Each such Other Shareholder shall be
entitled to purchase, upon the terms specified in the Offer Notice, a number of Ordinary Shares equal to (x) the number of Offered Shares multiplied by (y) a fraction, the numerator of which is the number of Ordinary Shares owned by such Other
Shareholder and the denominator of which is the number of Ordinary Shares owned by all Other Shareholders who wish to purchase Offered Shares. If any Other Shareholder wishes to purchase less than all the Ordinary Shares such Other Shareholder is
entitled to purchase in accordance with the preceding sentence, the Ordinary Shares such Other Shareholder declines to purchase shall be allocated among the Other Shareholders who wish to purchase such additional Ordinary Shares according to the
same formula, mutatis mutandis. 
  

	 	(ii)	Such offer shall remain open and irrevocable for a period of 30 days after receipt of the Offer Notice by the Other Shareholders (as may be extended pursuant to Section 3.03(b), the
“Offer Period”). Each Other Shareholder may accept the offer by sending a written notice of election (the “Notice of Election”) to the Prospective Seller with a copy to the Other Shareholders prior to expiration of
the Offer Period. The Notice of Election shall specify the maximum number of Ordinary Shares such Other Shareholder is willing to purchase pursuant to this Section 3.03, including any Additional Ordinary Share, if any, and any other terms and
conditions not inconsistent with this Agreement. Upon expiration of the Offer Period the Prospective Seller shall allocate in accordance with this Section 3.03 any shares to be sold pursuant to this Section 3.03 and promptly notify each Other
Shareholder of its determination. 

  

	 	(iii)	If an Other Shareholder (an “Accepting Party”) agrees with the Prospective Seller’s allocation of Offered Shares in accordance with Section 3.03(c)(ii) (the
“Accepted Shares”) it shall, within five days of receipt of the Prospective Seller’s notice delivered in accordance with Section 3.03(c)(ii), purchase from the Prospective Seller, and the Prospective Seller shall sell to such
Accepting Party, the Accepted Shares at the Offer Price and in accordance with all the material terms and conditions of the Offer set out in the Offer Notice; provided that the Accepting Party may pay the Offer Price in cash in amount
equal to the value of any property included in the Offer Price determined pursuant to subparagraph (b) above. 

  
 (d) The Prospective Seller and each Accepting Party shall determine a closing date for the sale of the Accepted Shares, which date shall
be no later than 30 days after the expiration of the Offer Period (or longer if required by applicable law). At the closing, the Prospective Seller shall, against delivery of the applicable purchase price, deliver to the Accepting Party certificates
evidencing the Offered Shares being sold to such Accepting Party, duly endorsed and, if applicable, accompanied by written instruments of transfer in form reasonably satisfactory to such Accepting Party, duly executed by the Prospective Seller free
and clear of any and all Encumbrances (other than Encumbrances imposed by this Agreement). 
  

 9 

 (e) Any Offered Shares not purchased by Accepting Parties pursuant to this Section 3.03
(whether as a result of a failure of any Other Shareholder to exercise its rights hereunder or to comply with the timing obligations hereunder) may be sold by the Prospective Seller to the Third Party specified in Section 3.03(a) at a price not
lower than that contained in the Notice of Election and on terms not more favorable to such Third Party than were contained in the Notice of Election. Such sale must be completed within 60 days (or longer if required by applicable law) after the
expiration of the Offer Period. In any event, if such Sale is not completed within 90 days after the expiration of the Offered Period, the Prospective Seller shall no longer be permitted to sell such Offered Shares pursuant to this Section 3.03
without again fully complying with the provisions of this Section 3.03 and all the restrictions on sale, transfer, assignment or other disposition contained in this Agreement shall again be in effect. 
  
 (f) Notwithstanding anything to the contrary in this Section
3.03, the provisions of this Section 3.03 shall not apply to any Sale to a Permitted Transferee. 
  
 SECTION 3.04 Co-Sale Rights/Tag Along Rights. (a) Subject to the rights of GE and Meditech under Section 3.02, if, at any time, and from time to
time, Chengxuan or an Affiliate of Chengxuan (a “Chengxuan Entity”) desires to make a Sale of all or part of the Ordinary Shares held by the Chengxuan Entity to a Third Party (the “Proposed Transferee”), the
Chengxuan Entity shall, prior to consummating such Sale and prior to delivery of any Offer Notice pursuant to Section 3.03, provide GE and Meditech with written notice of such proposed Sale (the “Sale Offer”). The Sale Offer shall
contain (i) the number of Ordinary Shares proposed to be transferred pursuant to such Sale (the “Designated Shares”), (ii) the number of ordinary shares to be held by the Chengxuan Entity on its own, and by Chengxuan and its
Affiliates in the aggregate, after consummation of the Sale to the Proposed Transferee, (iii) the name and address of the Proposed Transferee, and (iv) the proposed purchase price, terms and payment and other material terms and conditions of the
Proposed Transferee’s offer. 
  
 (b) (i) If,
following the Sale of the Designated Shares to the Proposed Transferee, Chengxuan, its Affiliates and GE would collectively own less than 50% of the outstanding Capital Stock of the Company, on a fully-diluted basis, then GE shall have the right to
require that the Proposed Transferee purchase, and the Chengxuan Entity shall be obligated to cause the Proposed Transferee to purchase, at the same price and on the same terms and conditions as offered by the Proposed Transferee to the Chengxuan
Entity, all or a portion of the Ordinary Shares held by GE. 
  

	 	(ii)	If GE exercises its co-sale right to sell all but not less than all of its Ordinary Shares pursuant to Section 3.04(b)(i), then Meditech shall also have the right to require that
the Proposed Transferee purchase, and the Chengxuan Entity shall be obligated to cause the Proposed Transferee to purchase, at the same price and on the same terms and conditions as offered by the Proposed Transferee to the Chengxuan Entity, all of
the Ordinary Shares held by Meditech. 

  

 10 

	 	(iii)	If GE exercises its co-sale right to sell a portion of its Ordinary Shares pursuant to Section 3.04(b)(i), then Meditech shall also have the right to require that the Proposed
Transferee purchase, and the Chengxuan Entity shall be obligated to cause the Proposed Transferee to purchase, at the same price and on the same terms and conditions as offered by the Proposed Transferee to the Chengxuan Entity, a fraction of all
Ordinary Shares held by Meditech, of which the number of Ordinary Shares GE elects to sell is the numerator and the total number of Ordinary Shares held by GE prior to such sale is the denominator. 

  
 (c) (i) If, following the Sale of the Designated Shares to
the Proposed Transferee, Chengxuan, its Affiliates and GE would collectively own 50% or more of the outstanding Capital Stock of the Company, on a fully-diluted basis, then GE shall have the right to require that the Proposed Transferee purchase,
and the Chengxuan Entity shall be obligated to cause the Proposed Transferee to purchase, at the same price and on the same terms and conditions as offered by the Proposed Transferee to the Chengxuan Entity, a portion of the Ordinary Shares held by
GE calculated on a pro rata basis in accordance with the formula set forth in Section 3.04(c)(iii). 
  

	 	(ii)	If GE exercises its tag-along right pursuant to Section 3.04(c)(i), then Meditech shall also have the right to require that the Proposed Transferee purchase, and the Chengxuan
Entity shall be obligated to cause the Proposed Transferee to purchase, at the same price and on the same terms and conditions as offered by the Proposed Transferee to the Chengxuan Entity, a portion of the Ordinary Shares held by Meditech
calculated on a pro rata basis in accordance with the formula set forth in Section 3.04(c)(iv). 

  

	 	(iii)	If Meditech does not exercise its tag-along right pursuant to Section 3.04(c)(ii), then the number of Ordinary Shares to be purchased from GE shall equal a fraction of the
Designated Shares, of which the number of Ordinary Shares held by GE prior to consummation of such sale is the numerator and the total number of Ordinary Shares held by the Chengxuan Entity and GE prior to consummation of such sale is the
denominator. 

  

	 	(iv)	If Meditech does exercise its tag-along right pursuant to Section 3.04(c)(ii) then the number of Ordinary Shares to be purchased from GE and Meditech, respectively, shall equal a
fraction of the Designated Shares, of which the number of Ordinary Shares held by GE or Meditech, respectively, prior to consummation of such sale, is the numerator and the total number of Ordinary Shares held by the Chengxuan Entity, GE and
Meditech prior to consummation of such sale is the denominator. 

  
 (d) For a period of fifteen (15) Business Days after the Sale Offer is made (the “Response Period”), GE and Meditech may exercise their co-sale rights under paragraph (b) above or their tag-along
rights pursuant to paragraph (c) above, as applicable, by separately delivering a written notice to the Chengxuan Entity (with a copy to GE or Meditech, as applicable) stating (i) GE or Meditech’s, as applicable, determination to exercise its
rights hereunder and (ii) the number of Ordinary Shares to be purchased by the Proposed Transferee from GE or Meditech, as applicable. GE shall also notify Meditech within ten (10) Business Days after the Sale Offer is made if it intends to exercise
its co-sale right or tag-along right pursuant to this Section 3.04. 
  

 11 

 (e) If, at the end of the Response Period, GE has not given notice to the Chengxuan
Entity of its decision to exercise its rights hereunder, then the Chengxuan Entity shall have 45 days (which period may be extended to the extent necessary to obtain required governmental approvals for such Sale) in which to sell the Designated
Shares to the Proposed Transferee at a price not higher than that contained in the Sale Offer and on terms not more favorable to the Chengxuan Entity than were contained in the Sale Offer. Promptly after any sale pursuant to this Section 3.04, the
Chengxuan Entity shall notify GE, Meditech and the Company of the consummation thereof and shall furnish such evidence of the completion (including time of completion) of such sale and of the terms thereof as GE, Meditech or the Company may
reasonably request. 
  
 (f) If at the end of any
such 45 day period provided for in this Section 3.04, the Chengxuan Entity has not completed the sale of the Designated Shares, the Chengxuan Entity shall no longer be permitted to sell such Designated Shares pursuant to this Section 3.04 without
again fully complying with the provisions of this Section 3.04 and all the restrictions on sale, transfer, assignment or other disposition contained in this Agreement shall again be in effect. Chengxuan shall be responsible for ensuring that its
Affiliates comply with the terms of this Section 3.04. 
  
 SECTION
3.05 Buy-Sell Arrangement between Chengxuan and GE and Meditech. (a) Upon the occurrence and during the continuance of a Material Event (as defined below), Chengxuan shall promptly notify GE and Meditech in writing of such Material Event,
specifying the date and circumstances thereof. Subject to paragraph (c) below, GE shall have the right, (i) for a period of ten (10) Business Days after such notification is received by GE, or (ii) at any time after GE independently becomes aware of
such Material Event, to require Chengxuan to purchase all but not less than all of the Ordinary Shares owned by GE. GE shall provide written notice to Chengxuan and Meditech of its decision to exercise its put-right hereunder and, subject to
paragraph (c) below and the Option Exercise Agreement, Chengxuan shall, within 10 Business Days of receipt of such notice (or longer if required by applicable law), purchase all but not less than all of the Ordinary Shares held by GE as specified in
the notice delivered by GE at a price per share equal to 1.15 times the Original Share Price.  
  
 (b) Subject to paragraph (c) below, upon receipt by Meditech of GE’s written notice exercising its put-right pursuant to paragraph
(a) above, Meditech shall also have the right for a period of ten (10) Business Days after GE’s notification is received to require Chengxuan, upon delivery of written notice to Chengxuan and GE, to purchase all but not less than all of the
Ordinary Shares held by Meditech as specified in the notice delivered by Meditech at a price per share equal to 1.15 times the Original Share Price, and Chengxuan shall purchase all but not less than all of the Ordinary Shares held by Meditech in
accordance with paragraph (c) below. If GE does not exercise its put-right pursuant to this Section 3.05 then Meditech shall have no rights pursuant to this Section 3.05. 
  

 12 

 (c) If both GE and Meditech exercise their rights hereunder, Chengxuan shall purchase
Ordinary Shares from GE and Meditech within ten (10) Business Days after Meditech’s notification is received. The number of Ordinary Shares to be purchased from GE and Meditech, respectively, shall equal the product of (A) the total number of
Ordinary Shares to be purchased by Chengxuan and (B) a fraction, the numerator of which shall be the total number of Ordinary Shares owned by GE or Meditech, respectively, and the denominator of which shall be the total number of Ordinary Shares
owned by GE and Meditech. 
  
 (d) For
purposes of this Section 3.05, “Material Event” means any of the following: 
  

	 	(i)	Chengxuan and its Affiliates collectively cease to own less than 35% of the then issued and outstanding Ordinary Shares; 

  

	 	(ii)	there is a substantial change in the nature of the Business, as determined by GE in good faith; 

  

	 	(iii)	there is (i) a merger, consolidation, amalgamation or similar transaction involving the Company upon completion of which the Shareholders do not hold shares representing at least
50% of the voting Capital Stock of the Company or the surviving entity in such transaction, as the case may be, (ii) a sale of all or substantially all of the assets of the Company or (iii) an issuance of shares of the Company upon completion of
which the Shareholders do not hold shares representing at least 50% of the Company’s voting Capital Stock; 

  

	 	(iv)	YDME’s EBITDA Interest Ratio is lower than two; 

  

	 	(v)	no dividend has been declared and distributed during any successive two year period; 

  

	 	(vi)	there is a material breach by YDME of the Supply Agreement or by the Company of this Agreement; and 

  

	 	(vii)	any proceeding shall be instituted by or against YDME or the Company seeking to adjudicate YDME or the Company as bankrupt or insolvent, or seeking liquidation, winding up or
reorganization, arrangement, adjustment, protection, relief or composition of its debts under any law relating to bankruptcy, insolvency or reorganization. 

  
 SECTION 3.06 Improper Sale or Encumbrance. Any attempt not in compliance with this Agreement to make any Sale of, or
create, incur or assume any Encumbrance with respect to, any Ordinary Share shall be null and void and of no force and effect, the purported transferee shall have no rights or privileges in or with respect to the Company, and the Company shall not
give any effect in the Company’s stock records to such attempted Sale or Encumbrance. Furthermore, the Shareholder and the other parties engaging 
  

 13 

 
or attempting to engage in such Sale shall indemnify and hold harmless the Company and each of the Shareholders from all Losses that such indemnified Persons
may incur in enforcing the provisions of this Agreement. 
  
 SECTION 3.07 Transferee to Execute. Each Shareholder agrees that it will not, directly or indirectly, make any Sale of, or create, incur or assume any Encumbrance with respect to, any ordinary shares owned by such Shareholder unless
prior to the consummation of any such Sale or the creation, incurrence or assumption of such Encumbrance, the Person to whom such Sale is proposed to be made or the Person in whose favor such Encumbrance is proposed to be created, incurred or
assumed, including any permitted Transferee (a “Prospective Transferee”), (i) executes and delivers this Agreement to the Company and each Shareholder, and (ii) delivers to the Company an opinion of counsel, reasonably satisfactory
in form and substance to the Company, to the effect that the execution of this Agreement by such Prospective Transferee makes this Agreement a legal, valid and binding obligation of such Prospective Transferee enforceable against such Prospective
Transferee in accordance with its terms. Upon the execution and delivery by such Prospective Transferee of this Agreement and the delivery of the opinion of counsel referred to in clause (ii) of the preceding sentence, such Prospective Transferee
shall be deemed a “Shareholder” for purposes of this Agreement and shall have the rights and be subject to the obligations of a Shareholder under this Agreement, in each case with respect to the ordinary shares owned by such Prospective
Transferee or in respect of which such Encumbrance shall have been created, incurred or assumed. 
  
 SECTION 3.08 Note Purchase Agreement. Notwithstanding anything to the contrary herein, Green Wall Development Ltd.’s right to the Exchangeable
Note shall not be subject to any limitation, restriction or Encumbrance set forth herein, including any right of first refusal, co-sale right, tag-along right or put-right. 
  
 ARTICLE 4 
  
 BOOKS AND RECORDS; FINANCIAL STATEMENTS 
  
 SECTION 4.01 Books and Records; Financial Statements. (a) The Company shall at all times prepare and maintain separate books of account for the
Company that shall show a true and accurate record of all costs and expenses incurred, all charges made, all credits made and received and all income derived in connection with the operation of the Business in accordance with applicable accounting
rules consistently applied. The books of account and records of the Company, including this Agreement and any amendments thereto, shall at all times be maintained at the principal place of business of the Company and shall be open to inspection and
examination at reasonable times upon reasonable notice by each Shareholder and its duly authorized representatives for any purpose reasonably related to such Shareholder’s interest in the Company. The books of account and records of the Company
shall be examined by and reported upon as of the end of each fiscal year by an independent accounting firm of international reputation that shall be selected by the Shareholders (the “Auditors”). 
  

 14 

 (b) The following financial information, prepared in accordance with applicable
accounting rules, shall be transmitted by the Company to each Shareholder at the times hereinafter set forth: 
  

	 	(i)	Within 90 days after the close of each fiscal year, the following financial statements, examined by and certified to by the Auditors: 

  

	 	(A)	the balance sheet of the Company as of the end of such fiscal year; 

  

	 	(B)	the income statement of the Company for such fiscal year; 

  

	 	(C)	the statement of cash flows of the Company for such fiscal year; and 

  

	 	(D)	a copy of the share register of the Company listing the current owners of the Ordinary Shares and the number of Ordinary Shares owned by each Shareholder. 

 

	 	(ii)	As soon as available and in any event within 30 days after the end of each fiscal quarter, a balance sheet for the Company as of the close of such fiscal quarter and statements of
income of the Company for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter, certified by the Company. 

  

	 	(iii)	As soon as practicable and in any event within 20 days following the end of each calendar month, a monthly operating summary of the Company’s activities in a form to be
established by the Board. 

  
 (c)
The Company shall provide GE and Meditech with its financial statements for each fiscal quarter and for each fiscal year filed with relevant tax authorities and such financial information as may be necessary for computation of the EBITDA Interest
Ratio or as reasonably requested by GE or Meditech. 
  
 SECTION
4.02 Reporting Requirements. The Company shall furnish to each Shareholder: 
  
 (a) as soon as practicable and in any event within ten days after the Company has received notice of the occurrence of any default or
event of default under any agreement relating to any material obligation of the Company, a statement of the Company setting forth the details of such default or event of default and the action which the Company has taken and proposes to take with
respect thereto; and 
  
 (b) promptly after the
sending or filing thereof, copies of all reports that the Company sends to any of its creditors generally, and copies of all tax returns that the Company files with any tax authority. 
  

 15 

 ARTICLE 5 
  

ADDITIONAL AGREEMENTS 
  
 SECTION 5.01 New Investors to Execute Agreement. The Company shall not issue any Ordinary Share, unless, prior to the consummation of any such
issuance, each Person to whom such Ordinary Share is proposed to be issued executes this Agreement and delivers a copy of this Agreement to the Company and each Shareholder. Upon the execution and delivery by such Person of this Agreement, such
Person shall be deemed a “Shareholder” for purposes of this Agreement and shall have the rights and be subject to the obligations of a Shareholder under this Agreement. 
  
 SECTION 5.02 Rights to Purchase New Securities. (a) Except for (i) any issuance of restricted share and options to
purchase Ordinary Shares pursuant to any share option or incentive plan for employees, officers and directors from time to time, (ii) any issuance of Capital Stock of the Company in connection with any share dividend, subdivision, consolidation or
reclassification of Capital Stock, (iii) Ordinary Shares issued in an Initial Public Offering, and (iv) Capital Stock of the Company issued in connection with a strategic partnership or joint venture that has been approved by the Board of Directors,
if the Company wishes to issue any New Securities to a Person (the “Proposed Offeree”), each Shareholder shall have the right to purchase, in lieu of the Proposed Offeree, in accordance with paragraph (b) below, a number of New
Securities equal to the product of (i) the total number of New Securities which the Company proposes to issue at such time and (ii) a fraction, the numerator of which shall be the total number of Ordinary Shares which such Shareholder owns at such
time, and the denominator of which shall be the total number of Ordinary Shares then outstanding prior to such proposed issue of New Securities. The rights given by the Company under this Section 5.02(a) shall terminate if unexercised within 30 days
after receipt of the Notice of Issuance referred to in paragraph (b) below. 
  
 (b) In the event that the Company proposes to issue New Securities in accordance with this Section 5.02, it shall give written notice (a “Notice of Issuance”) of its intention to each Shareholder,
describing the price and all material terms and conditions of the New Securities and the issuance thereof. Each Shareholder shall have the right, for a period of 30 days (which period may be extended pursuant to Section 5.02(f)) from the date of
delivery of the Notice of Issuance, by delivery of written notice to the Company (the “Exercise Notice”), to purchase all or a portion of its pro rata share of such New Securities (as determined pursuant to paragraph (a)
above) at the same price and on the same terms and conditions as stated in the Notice of Issuance. In the Exercise Notice, the Shareholder shall state the number of New Securities such Shareholder wishes to purchase, including whether such
Shareholder wishes to exercise its right of reallotment pursuant to Section 5.02(c). 
  
 (c) Each Shareholder shall have a right of reallotment such that, if any Shareholder fails to exercise its right to purchase New
Securities or fails to purchase such Shareholder’s full pro rata share of the New Securities, the other participating Shareholders, who have indicated in their Exercise Notice an interest in purchasing realloted New Securities, shall
purchase as many of the New Securities not previously purchased (the “Reallotment Securities”) as such Shareholders, in the aggregate, indicated an interest in purchasing in their Exercise Notices, which Reallotment Securities shall
be allocated to them pro rata based on the respective amounts of the Reallotment Securities so indicated in their Exercise Notice. 
  

 16 

 (d) Any New Securities not elected to be purchased by the Shareholders pursuant to
Sections 5.02(a) through (c) hereof may be sold by the Company to the Proposed Offeree on the same terms and conditions as set forth in the Notice of Issuance. 
  

(e) If a Shareholder delivers an Exercise Notice, then the payment of New Securities shall be by wire transfer of immediately available
funds to such account as may be designated by the Company, against delivery of the New Securities to be purchased at a place agreed upon between the parties and at the time of the scheduled closing therefor, which shall be no later than forty-five
(45) days after the date of the Exercise Notice (which period may be extended as required by applicable law or to account for any valuation dispute pursuant to Section 5.02(f)). 
  
 (f) If the purchase price specified in the Notice of Issuance is payable in property other than cash, the
Shareholders shall have the right to pay the purchase price in cash in an amount equal to the value of such property at the time of payment. If the Company and any Shareholders who wish to purchase the New Securities cannot agree on the cash value
of such property within ten days after the Shareholders’ receipt of the Notice of Issuance, the value of such property shall be determined by an appraiser of recognized standing selected jointly by the Company and such Shareholders (acting
together). If they cannot agree on an appraiser within 20 days after receipt of the Notice of Issuance, within a further five-day period, the Company and such Shareholders (acting together) shall each select an appraiser of recognized standing and
the two appraisers shall designate a third appraiser of recognized standing to determine the value of such property. The value of such property determined by the appraiser selected pursuant to this Section 5.02(f) shall be final and binding on the
Company and the Shareholders. The cost of such appraisal shall be shared equally by the Company, on the one hand, and such Shareholders, on the other hand (each Shareholder shall pay its pro rata portion of such costs based on the number of
New Securities acquired by such Shareholder). If the time for delivery of the Exercise Notice as specified in Section 5.02(b) has expired but for the determination of the value of the purchase price offered by the Prospective Transferee, then such
time shall be extended to the fifth Business Day after such valuation shall have been made pursuant to this Section 5.02(f). 
  
 (g) As long as (i) GE remains a Shareholder, the Company shall not, without the prior written consent of GE, issue any New Securities to
any Person that is a GE Competitor and (ii) Meditech remains a Shareholder, the Company shall not, without the prior written consent of Meditech, issue any New Securities to any Person that is a Meditech Competitor. 
  
 SECTION 5.03 Further Assurances. Each of the parties hereto shall use
reasonable efforts to take, or cause to be taken, all appropriate action, and to do, or cause to be done, all things necessary, proper or advisable under applicable laws to consummate and make effective the transactions contemplated hereunder,
including, without limitation, using reasonable efforts to obtain all licenses, permits, consents, approvals, authorizations, qualifications and orders required by any governmental authority. Each of the parties hereto shall cooperate with the other
parties in order to effect the transactions contemplated hereunder. 
  

 17 

 SECTION 5.04 Use of Names. Neither the Company nor any of its Affiliates shall use the names of
any Shareholder or any Affiliate of a Shareholder in any press release, notice or other publication without the prior consent of such Shareholder, which consent shall not be unreasonably withheld; provided that the Company may use the names
of any Shareholder or any Affiliate of a Shareholder in a disclosure if, in the opinion of counsel reasonably acceptable to such Shareholder, such disclosure document which is required by the United States securities laws or any other government
laws and regulations, or the rules and regulations of the securities exchange or automated securities trading system where the Company’s securities will be listed or traded upon the Initial Public Offering. 
  
 SECTION 5.05 Use of Clinical Database. GE and Meditech and their
respective Affiliates shall have complete access to, and full use of, without any restriction and free of royalty fees or other fees, data relating to clinical cases obtained by YDME from hospitals and other medical institutions and any medical
professional using YDME’s high intensity-focused ultrasonic device for any lawful purpose in connection with their business, provided that YDME has obtained the necessary consent from such hospitals and other medical institutions and any
medical professional. Such data shall include, but shall not be limited to, hospital survey information, medical record information, test reports and imaging records before and after treatment. 
  
 SECTION 5.06 No Exclusivity; Corporate Opportunity. (a) In the event a
Shareholder is offered, presented with or develops a business opportunity that is primarily based in the PRC and such business opportunity is competitive with the high-intensity-focused ultrasonic business of the Company or its Affiliates in the PRC
(excluding Hong Kong, Macao and Taiwan), irrespective of whether such Shareholder believes that the Company would be able (financially or otherwise) or willing to pursue such business opportunity, such Shareholder shall, prior to taking or failing
to take any action that would reasonably prevent the Company from pursuing such business opportunity, provide the Company with notice of its intention to pursue such business opportunity (an “Opportunity Notice”). The Opportunity
Notice shall describe the business opportunity in reasonable detail and shall specify an estimate of the cost and other terms and conditions on which it proposes to pursue such business opportunity. 
  

	 	(i)	Following delivery of the Opportunity Notice, such Shareholder and the Company shall discuss the Company’s participation in such business opportunity in good faith for a period
of time (the “Company Exclusivity Period”) expiring on the earlier of: 

  

	 	(A)	thirty days from delivery of the Opportunity Notice; and 

  

	 	(B)	the date on which the Company notifies such Shareholder that it is not interested in pursuing such business opportunity. 

  

	 	(ii)	If the Company expresses an interest in pursuing such project, the Shareholder shall use reasonable efforts to enable the Company to participate in such project. The Shareholder
shall be free to pursue such business opportunity as the Shareholder shall in its discretion determine (i) if no memorandum of understanding or comparable agreement is signed by the Shareholder and the Company during the Company Exclusivity Period
or (ii) if the Shareholder and the Company sign a memorandum of understanding or comparable agreement, but no definitive agreement in respect of such memorandum of understanding or comparable agreement is executed by the Shareholder and the Company
within three months after the signing of such memorandum of understanding or comparable agreement. 

  

 18 

 (b) (i) The Company agrees that, with respect to any high intensity-focused ultrasonic
project that the Company proposes to undertake, including, without limitation, projects relating to the joint venture between the Company and InSightec-Image Guided Treatment Ltd. as a result of their cooperation, the expansion of the Company’s
existing production facilities, or the development of new facilities anywhere in the world, the Company will provide GE with notice of its intention to undertake such project (a “Project Notice”). The Project Notice shall describe
the project in reasonable detail and shall specify an estimate of the cost and other terms and conditions on which it proposes to undertake such project. 
  

	 	(ii)	Following delivery of the Project Notice, the Company and GE shall discuss GE’s participation in such project in good faith for a period of time (the “GE Exclusivity
Period”) expiring on the earlier of: 

  

	 	(A)	thirty days from delivery; and 

  

	 	(B)	the date on which GE notifies the Company that it is not interested in pursuing such project. 

  

	 	(iii)	If GE expresses an interest in pursuing such project, the Company shall use reasonable efforts to enable GE to participate in such project. The Company shall be free to pursue such
business opportunity or otherwise dispose of such business opportunity as the Company shall in its discretion determine (i) if no memorandum of understanding or comparable agreement is signed by the Company and GE during the GE Exclusivity Period or
(ii) if the Company and GE sign a memorandum of understanding or comparable agreement, but no definitive agreement in respect of such memorandum of understanding or comparable agreement is executed by the Company and GE within three months after the
signing of such memorandum of understanding or comparable agreement. 

  
 SECTION 5.07 Transactions Between the Company and the Shareholders or Their Affiliates. (a) No transaction between the Company or its Affiliate, on the one hand, and any Shareholder or its Affiliates, on the
other hand, shall be entered into or conducted, and no material terms thereof shall be changed or waived, unless the terms of such transaction or any such proposed change or waiver are disclosed to the other Shareholders and are unanimously approved
by the other Shareholders; provided that no such disclosure or approval hereunder shall be required with respect to (i) transactions with any Shareholder or its Affiliates that are at market price and on market terms, or a price and
terms no more favorable to such Shareholder or any of its Affiliates than would be available to any Third Party customer for like products or services, (ii) the purchase and sale of ultrasonic or other medical imaging equipment designed as a
component of, or for use with the products of, the Company and its Affiliates pursuant to the Supply Agreement, and (iii) the distribution of the products of YDME by GE or any Affiliates of GE pursuant to Section 5.07(b). 
  

 19 

 (b) The Company hereby grants GE a right of first refusal to act, or to designate one or
more of GE’s Affiliates to act, as the sole and exclusive distributor of the high intensity-focused ultrasonic device of YDME outside the PRC. Such distribution may be conducted directly or indirectly (through dealer or other channels) by GE or
any Affiliates of GE. 
  
 (c) In the event that
(i) the Company sells or otherwise transfers all or substantially all of the assets of the Company or its Business to any Person, or (ii) the Company or YDME consolidates with or merges into any Person and would not be the continuing or surviving
corporate of such consolidation or merger, the Company shall cause such Person to assume and agree to perform and discharge the obligations of YDME under the Supply Agreement and under or arising from Section 5.07(b). Any such sale, transfer,
consolidation or merger shall be of no force and effect unless such Person has agreed to assume, perform and discharge the obligations of YDME under the Supply Agreement and under or arising from Section 5.07(b). 
  
 SECTION 5.08 Confidential Information. Each Shareholder agrees to, and
shall cause its Affiliates, and its and their officers, directors, employees, agents, representatives, accountants and counsel to, treat and hold as confidential (and not disclose or provide access to any Person), unless compelled to disclose by
judicial or administrative process or by other requirement of applicable law or in connection with the preparation of an Initial Public Offering, this Agreement and the transactions contemplated hereby, any and all confidential information relating
to trade secrets, processes, patent and trademark applications, product development, price, customer and supplier lists, pricing and marketing plans, policies and strategies, details of client and consultant contracts, operations methods, product
development techniques, business acquisition plans, new personnel acquisition plans and all other confidential or proprietary information with respect to the other Shareholders, the Business and the Company furnished to or acquired by such
Shareholder; provided, however, that this sentence shall not apply to any information that, at the time of disclosure, is available publicly and was not disclosed in breach of this Agreement by such Shareholder, its Affiliates, or its
or their officers, directors, employees, agents, representatives, accountants or counsel. 
  
 SECTION 5.09 Initial Public Offering. If the Company makes an Initial Public Offering and lists any shares of its Capital Stock on any securities exchange, prior to the consummation of the Initial Public
Offering, the Company shall, at its sole expense, cause at least ten percent (10%) of the shares of Capital Stock owned by each of GE and Meditech as of the date hereof to be included in the Initial Public Offering and be listed on such securities
exchange. 
  
 SECTION 5.10 Business Conduct. The Company
will at all times conduct its business in accordance with applicable laws and in an ethical manner. The Company acknowledges receipt of GE’s policy in this regard, entitled “Integrity: The Spirit and Letter of Our Commitment”.

  

 20 

 ARTICLE 6 
  

INDEMNIFICATION 
  
 SECTION 6.01 Indemnification of Covered Persons. The Company shall indemnify each Covered Person against, and hold each Covered Person harmless
from, all claims, suits, judgments, losses, damages, fines or costs (including reasonable legal fees and expenses, but not including any incidental, consequential or punitive damages, loses and expenses) (“Losses”) arising out of or
resulting from the Company’s breach of or failure to perform any agreement or covenant made by the Company contained herein. 
  
 ARTICLE 7 
  
 MISCELLANEOUS 
  
 SECTION 7.01 Term. This Agreement shall become effective upon the execution hereof by all the parties hereto and shall continue in effect until the earlier to occur of (a) the consummation of an Initial Public
Offering, provided that Article 2, Sections 5.04, 5.05, 5.06, 5.07 and 5.10 shall survive the consummation of an Initial Public Offering and (b) any date agreed upon in writing by all of the parties hereto. For the avoidance of doubt, any
termination of this Agreement with respect to one Shareholder shall not prejudice the rights of any other Shareholder hereunder, or the rights of the Company with respect to any other Shareholder. This Agreement shall continue to be in full force
and effect with respect to such other Shareholder. 
  
 SECTION
7.02 Expenses. Except as otherwise specified in this Agreement, all costs and expenses, including, without limitation, fees and disbursements of counsel incurred in connection with this Agreement and the transactions contemplated by this
Agreement shall be paid by the party incurring such costs and expenses except as otherwise provided in the Subscription Agreement. 
  
 SECTION 7.03 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made (and
shall be deemed to have been duly given or made upon receipt) by delivery in person, by a responsible overnight courier service, by telecopy or registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the
following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 7.03): 
  

	 	(a)	if to the Company: 

  
 China Medical Technologies, Inc. 
 24
Yongchang North Road 
 Beijing Economic-Technological Development Area 
 Beijing 100176 
  
 Telecopy: (8610) 6788-4642 
 Attention: Mr.
Xiaodong Wu 
  

 21 

 With a copy to: 
  
 Latham & Watkins LLP 
 41st Floor 
 One Exchange Square 
 8 Connaught Place,
Central 
 Hong Kong 
  
 Telecopy: (852) 2522-7006 
 Attention: David
Zhang, Esq. 
  

	 	(b)	if to Chengxuan: 

  
 Chengxuan International Ltd. 
 24 Yongchang
North Street 
 Beijing Economic and Technology Development Zone 
 Beijing 100176 
  
 Telecopy: (8610) 6788-4642 
 Attention: Mr.
Xiaodong Wu 
  
 With a copy to: 
  
 Latham & Watkins LLP 
 41st Floor

 One Exchange Square 
 8
Connaught Place, Central 
 Hong Kong 
  
 Telecopy: (852) 2522-7006 
 Attention: David
Zhang, Esq. 
  

	 	(c)	if to GE: 

  
 General Electric International Operations Company, Inc. 
 1 Yongchang North Road 
 Beijing Economic-Technological Development Area 
 Beijing 100176 
  
 Telecopy: (8610) 6787-5022

 Attention: Qiao Gangliang, Esq. 
  

 22 

 with a copy to: 
  
 Shearman & Sterling LLP 
 2318 China World Tower Two 
 1 Jianguomenwai Dajie 
 Chaoyang District 
 Beijing 100004

  
 Telecopy: (8610) 6505-1818 
 Attention: Lee Edwards, Esq. 
  

	 	(d)	if to Meditech: 

  
 Golden Meditech (BVI) Company Limited 
 Suite A, 36/F, Bank of China Tower 
 1 Garden Road 
 Central, Hong Kong 
  
 Telecopy:
(852) 2868-6981 
 Attention: Ms. Ting (Tina) Zheng 
  

with a copy to: 
  
 Jones Day 
 31st Floor, Edinburgh Tower

 The Landmark 
 15
Queen’s Road Central 
 Hong Kong 
  
 Telecopy: (852) 2868-5871 
 Attention:
Barbara Mok, Esq. 
  
 SECTION 7.04 Public Announcements.
Subject to Section 5.03(b) of the Subscription Agreement and except as required by law or by the requirements of any securities exchange on which the securities of any party hereto are listed, no party to this Agreement shall make, or cause to be
made, any press release or public announcement in respect of this Agreement or the transactions contemplated by this Agreement or otherwise communicate with any news media without the prior written consent of the Company and each of the
Shareholders, and the Company and the Shareholders shall cooperate as to the timing and contents of any such press release or public announcement. 
  
 SECTION 7.05 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any law or public
policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner materially
adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible in an acceptable manner in order that the transactions contemplated by this Agreement are consummated as originally contemplated to the greatest extent possible. 
  

 23 

 SECTION 7.06 Time is of Essence. Time shall be of essence as regards any date or period set forth
in this Agreement and any date or period substituted for the same by agreement of the parties hereto or otherwise. 
  
 SECTION 7.07 Waiver. Any party to this Agreement may (a) extend the time for the performance of any of the obligations or other acts of any other
party, (b) waive any inaccuracies in the representations and warranties of any other party contained herein or in any document delivered by any other party pursuant hereto or (c) waive compliance with any of the agreements or conditions of any other
party contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent
breach or a subsequent waiver of the same term or condition, or a waiver of any other term or condition of this Agreement. The failure of any party to assert any of its rights hereunder shall not constitute a waiver of any of such rights.

  
 SECTION 7.08 Amendment. This Agreement may not be
amended or modified except (a) by an instrument in writing signed by, or on behalf of, all parties hereto or (b) by a waiver in accordance with Section 7.07. If the Shareholders agree to consummate an Initial Public Offering, each Shareholder agrees
to negotiate in good faith to amend this Agreement to the extent necessary or desirable for the consummation of the Initial Public Offering. 
  
 SECTION 7.09 Assignment and Succession. This Agreement may not be assigned by operation of law or otherwise without the express written consent of
the Company and the Shareholders (which consent may be granted or withheld in the sole discretion of each party). The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns. 
  
 SECTION 7.10 No Third Party Beneficiaries.
This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person, including, without limitation, any
union or any employee or former employee of the Company, any legal or equitable right, benefit or remedy of any nature whatsoever. 
  
 SECTION 7.11 Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement was
not performed in accordance with the terms hereof and that the parties hereto shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or in equity. 
  
 SECTION 7.12 Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York, United States of America, without regard to the principles of conflicts of law thereof. The parties hereto irrevocably submit to the non-exclusive jurisdiction of any state or federal
court sitting in the County of New York, in the State of New York over any suit, action or proceeding arising out of or relating to this Agreement. To the fullest extent they may effectively do so under applicable law, the parties hereto irrevocably
waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction of any such court, any objection that they may now or hereafter have to the laying of the venue of any such suit,
action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
  

 24 

 SECTION 7.13 Headings. The headings and subheadings in this Agreement are included for convenience
and identification only and are in no way intended to described, interpret, define or limit the scope, extent or intent of this Agreement or any provision hereof. 
  
 SECTION 7.14 Counterparts. This Agreement may be executed and delivered (including by facsimile transmission) in one
or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 
  
 [SIGNATURES BEGIN ON NEXT PAGE] 
  

 25 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective
authorized signatories hereunto duly authorized as of the date first above written. 
  

			
	 CHINA MEDICAL TECHNOLOGIES, INC.

		
	 By:
	 	 /s/ Xiaodong Wu

	 Name:
	 	 Xiaodong Wu

	 Title:
	 	 Chief Executive Officer

	
	 CHENGXUAN INTERNATIONAL LTD

		
	 By:
	 	 /s/ Xiaodong Wu

	 Name:
	 	 Xiaodong Wu

	 Title:
	 	 Director

	
	 GENERAL ELECTRIC INTERNATIONAL
 OPERATIONS COMPANY, INC.

		
	 By:
	 	 /s/ Chih Chen

	 Name:
	 	 Chih Chen

	 Title:
	 	 
	
	 GOLDEN MEDITECH (BVI) COMPANY
 LIMITED

		
	 By:
	 	 /s/ Kam Yuen

	 Name:
	 	 Kam Yuen

	 Title:
	 	 Director

  

 26 

 SCHEDULE A 
 OWNERSHIP OF ORDINARY SHARES 
  

						
	 Shareholder

	  	Number of Shares

	  	Percentage of
Shareholding

	 
	 Chengxuan
	  	110,020,000	  	55.01	%
	 Meditech
	  	50,000,000	  	25.0	%
	 GE
	  	39,980,000	  	19.99	%
	 	  	
	  	
	

	 	  	200,000,000	  	100.0	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]