Document:

Deposit Agreement

 Exhibit 4.3 

  
 TRINA SOLAR LIMITED 
 AND 
 THE BANK OF NEW YORK 
 as Depositary 
 AND 

OWNERS AND BENEFICIAL OWNERS OF AMERICAN DEPOSITARY SHARES 
 Deposit Agreement 
 Dated as of December 18, 2006 
  
  

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1.
	  	 DEFINITIONS.
	  	2
	     SECTION 1.1
	  	 American Depositary Shares.
	  	2
	     SECTION 1.2
	  	 Article; Section.
	  	3
	     SECTION 1.3
	  	 Beneficial Owner.
	  	3
	     SECTION 1.4
	  	 Commission.
	  	3
	     SECTION 1.5
	  	 Company.
	  	3
	     SECTION 1.6
	  	 Custodian.
	  	3
	     SECTION 1.7
	  	 Deliver; Surrender.
	  	3
	     SECTION 1.8
	  	 Deposit Agreement.
	  	4
	     SECTION 1.9
	  	 Depositary; Corporate Trust Office.
	  	4
	     SECTION 1.10
	  	 Deposited Securities.
	  	4
	     SECTION 1.11
	  	 Dollars.
	  	4
	     SECTION 1.12
	  	 Foreign Registrar.
	  	4
	     SECTION 1.13
	  	 Owner.
	  	5
	     SECTION 1.14
	  	 Receipts.
	  	5
	     SECTION 1.15
	  	 Registrar.
	  	5
	     SECTION 1.16
	  	 Restricted Securities.
	  	5
	     SECTION 1.17
	  	 Securities Act.
	  	5
	     SECTION 1.18
	  	 Shares.
	  	5
			
	 ARTICLE 2.
	  	 FORM OF RECEIPTS, DEPOSIT OF SHARES, DELIVERY, TRANSFER AND SURRENDER OF AMERICAN DEPOSITARY SHARES.
	  	6
	     SECTION 2.1
	  	 Form of Receipts; Registration and Transferability of American Depositary Shares.
	  	6
	     SECTION 2.2
	  	 Deposit of Shares.
	  	7
	     SECTION 2.3
	  	 Delivery of American Depositary Shares.
	  	8
	     SECTION 2.4
	  	 Registration of Transfer of American Depositary Shares; Combination and Split-up of Receipts; Interchange of Certificated and
Uncertificated American Depositary Shares.
	  	8
	     SECTION 2.5
	  	 Surrender of American Depositary Shares and Withdrawal of Deposited Securities.
	  	9
	     SECTION 2.6
	  	 Limitations on Delivery, Transfer and Surrender of American Depositary Shares.
	  	10
	     SECTION 2.7
	  	 Lost Receipts, etc.
	  	11

  

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	     SECTION 2.8
	  	 Cancellation and Destruction of Surrendered Receipts.
	  	11
	     SECTION 2.9
	  	 Pre-Release of American Depositary Shares.
	  	11
	     SECTION 2.10
	  	 DTC Direct Registration System and Profile Modification System.
	  	12
			
	 ARTICLE 3.
	  	 CERTAIN OBLIGATIONS OF OWNERS AND BENEFICIAL OWNERS OF AMERICAN DEPOSITARY SHARES.
	  	13
	     SECTION 3.1
	  	 Filing Proofs, Certificates and Other Information.
	  	13
	     SECTION 3.2
	  	 Liability of Owner for Taxes.
	  	13
	     SECTION 3.3
	  	 Warranties on Deposit of Shares.
	  	14
			
	 ARTICLE 4.
	  	 THE DEPOSITED SECURITIES.
	  	14
	     SECTION 4.1
	  	 Cash Distributions.
	  	14
	     SECTION 4.2
	  	 Distributions Other Than Cash, Shares or Rights.
	  	15
	     SECTION 4.3
	  	 Distributions in Shares.
	  	15
	     SECTION 4.4
	  	 Rights.
	  	16
	     SECTION 4.5
	  	 Conversion of Foreign Currency.
	  	17
	     SECTION 4.6
	  	 Fixing of Record Date.
	  	18
	     SECTION 4.7
	  	 Voting of Deposited Securities.
	  	19
	     SECTION 4.8
	  	 Changes Affecting Deposited Securities.
	  	20
	     SECTION 4.9
	  	 Reports.
	  	20
	     SECTION 4.10
	  	 Lists of Owners.
	  	20
	     SECTION 4.11
	  	 Withholding.
	  	21
			
	 ARTICLE 5.
	  	 THE DEPOSITARY, THE CUSTODIANS AND THE COMPANY.
	  	21
	     SECTION 5.1
	  	 Maintenance of Office and Transfer Books by the Depositary.
	  	21
	     SECTION 5.2
	  	 Prevention or Delay in Performance by the Depositary or Company.
	  	22
	     SECTION 5.3
	  	 Obligations of the Depositary, the Custodian and the Company.
	  	22
	     SECTION 5.4
	  	 Resignation and Removal of the Depositary.
	  	23
	     SECTION 5.5
	  	 The Custodians.
	  	24
	     SECTION 5.6
	  	 Notices and Reports.
	  	25
	     SECTION 5.7
	  	 Distribution of Additional Shares, Rights, etc.
	  	25
	     SECTION 5.8
	  	 Indemnification.
	  	26
	     SECTION 5.9
	  	 Charges of Depositary.
	  	27
	     SECTION 5.10
	  	 Retention of Depositary Documents.
	  	28
	     SECTION 5.11
	  	 Exclusivity.
	  	28

  

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	     SECTION 5.12
	  	 List of Restricted Securities Owners.
	  	28
			
	 ARTICLE 6.
	  	 AMENDMENT AND TERMINATION.
	  	28
	     SECTION 6.1
	  	 Amendment.
	  	28
	     SECTION 6.2
	  	 Termination.
	  	29
			
	 ARTICLE 7.
	  	 MISCELLANEOUS.
	  	30
	     SECTION 7.1
	  	 Counterparts.
	  	30
	     SECTION 7.2
	  	 No Third Party Beneficiaries.
	  	30
	     SECTION 7.3
	  	 Severability.
	  	30
	     SECTION 7.4
	  	 Owners and Beneficial Owners as Parties; Binding Effect.
	  	30
	     SECTION 7.5
	  	 Notices.
	  	30
	     SECTION 7.6
	  	 Governing Law.
	  	31
	     SECTION 7.7
	  	 Compliance with U.S. Securities Laws.
	  	31
	     SECTION 7.8
	  	 Submission to Jurisdiction; Appointment of Agent for Service of Process.
	  	32
	     SECTION 7.9
	  	 Arbitration.
	  	32

  

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 DEPOSIT AGREEMENT 
 DEPOSIT AGREEMENT dated as of December 18, 2006 among TRINA SOLAR LIMITED, incorporated under the laws of the Cayman Islands (herein called the Company), THE BANK OF NEW YORK, a New York banking corporation
(herein called the Depositary), and all Owners and Beneficial Owners from time to time of American Depositary Shares issued hereunder. 
 W I
T N E S S E T H : 
 WHEREAS, the Company desires to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of
Shares (as hereinafter defined) of the Company from time to time with the Depositary or with the Custodian (as hereinafter defined) as agent of the Depositary for the purposes set forth in this Deposit Agreement, for the creation of American
Depositary Shares representing the Shares so deposited and for the execution and delivery of American Depositary Receipts evidencing the American Depositary Shares; and 
 WHEREAS, the American Depositary Receipts are to be substantially in the form of Exhibit A annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit
Agreement; 
 NOW, THEREFORE, in consideration of the premises, it is agreed by and between the parties hereto as follows: 

ARTICLE 1. DEFINITIONS. 
 The following definitions
shall for all purposes, unless otherwise clearly indicated, apply to the respective terms used in this Deposit Agreement: 
 SECTION 1.1
American Depositary Shares. 
 The term “American Depositary Shares” shall mean the securities created under this Deposit
Agreement representing rights with respect to the Deposited Securities. American Depositary Shares may be certificated securities evidenced by Receipts or uncertificated securities. The form of Receipt annexed as Exhibit A to this Deposit Agreement
shall be the prospectus required under the Securities Act of 1933 for sales of both certificated and uncertificated American Depositary Shares. Except for those provisions of this Deposit Agreement that refer specifically to Receipts, all the
provisions of this Deposit Agreement shall apply to both certificated and uncertificated American Depositary Shares. Each American Depositary Share shall represent the number of 
  

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 Shares specified in Exhibit A to this Deposit Agreement, until there shall occur a distribution upon Deposited Securities
covered by Section 4.3 or a change in Deposited Securities covered by Section 4.8 with respect to which additional American Depositary Shares are not delivered, and thereafter American Depositary Shares shall represent the amount of Shares
or Deposited Securities specified in such Sections. 
 SECTION 1.2 Article; Section. 
 Wherever references are made in this Deposit Agreement to an “Article” or “Articles” or to a “Section” or
“Sections”, such references shall mean an article or articles or a section or sections of this Deposit Agreement, unless otherwise required by the context. 
 SECTION 1.3 Beneficial Owner. 
 The term “Beneficial Owner” shall mean each person owning
from time to time any beneficial interest in the American Depositary Shares. 
 SECTION 1.4 Commission. 
 The term “Commission” shall mean the Securities and Exchange Commission of the United States or any successor governmental agency in the United
States. 
 SECTION 1.5 Company. 
 The term “Company” shall mean Trina Solar Limited, incorporated under the laws of the Cayman Islands, and its successors. 
 SECTION 1.6 Custodian. 
 The term “Custodian” shall mean the principal Hong Kong office of The Hongkong and
Shanghai Banking Corporation Limited, as agent of the Depositary for the purposes of this Deposit Agreement, and any other firm or corporation which may hereafter be appointed by the Depositary pursuant to the terms of Section 5.5, as
substitute or additional custodian or custodians hereunder, as the context shall require and shall also mean all of them collectively. 
 SECTION 1.7 Deliver; Surrender. 
 (a) The term “deliver”, or its noun form, when used with respect to Shares or
Deposited Securities, shall mean effecting one or more entries in an account or accounts maintained by an institution authorized under applicable law to effect transfers of such securities in the name of the person entitled to that delivery.

 (b) The term “deliver”, or its noun form, when used with respect to American Depositary Shares, shall mean (i) one or more
book-entry transfers of American Depositary Shares to an account or accounts at The Depository Trust Company (“DTC”) designated by the person entitled to such delivery, (ii) if requested by the person 
  

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 entitled to such delivery, delivery at the Corporate Trust Office of the Depositary to the person entitled to such
delivery of one or more Receipts evidencing American Depositary Shares registered in the name requested by that person or (iii) registration of American Depositary Shares not evidenced by a Receipt on the books of the Depositary in the name
requested by the person entitled to such delivery and whereupon mailing will be made to that person of a statement confirming that registration. 
 (c) The term “surrender”, when used with respect to American Depositary Shares, shall mean (i) one or more book-entry transfers of American Depositary Shares to the DTC account of the Depositary, (ii) surrender to the
Depositary at its Corporate Trust Office of one or more Receipts evidencing American Depositary Shares or (iii) delivery to the Depositary at its Corporate Trust Office of an instruction to surrender American Depositary Shares not evidenced by
a Receipt. 
 SECTION 1.8 Deposit Agreement. 
 The term “Deposit Agreement” shall mean this Agreement, as the same may be amended from time to time in accordance with the provisions hereof. 
 SECTION 1.9 Depositary; Corporate Trust Office. 
 The term “Depositary” shall mean The Bank of New York, a New York banking corporation and any successor as depositary hereunder. The term “Corporate Trust Office”, when used with respect to the
Depositary, shall mean the office of the Depositary which at the date of this Agreement is 101 Barclay Street, New York, New York, 10286. 
 SECTION 1.10 Deposited Securities. 
 The term “Deposited Securities” as of any time shall mean Shares at such time
deposited or deemed to be deposited under this Deposit Agreement, and any and all other securities, property and cash received by the Depositary or the Custodian in respect thereof and at such time held hereunder, subject as to cash to the
provisions of Section 4.5. 
 SECTION 1.11 Dollars. 
 The term “Dollars” shall mean United States dollars. 
 SECTION 1.12 Foreign Registrar. 
 The term “Foreign Registrar” shall mean the entity that
presently carries out the duties of registrar for the Shares or any successor as registrar for the Shares and any other appointed agent of the Company for the transfer and registration of Shares, including without limitation any securities
depository for the Shares. 
  

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 SECTION 1.13 Owner. 
 The term “Owner” shall mean the person in whose name American Depositary Shares are registered on the books of the Depositary maintained for such purpose. 
 SECTION 1.14 Receipts. 
 The term
“Receipts” shall mean the American Depositary Receipts issued hereunder evidencing certificated American Depositary Shares. 
 SECTION 1.15 Registrar. 
 The term “Registrar” shall mean any bank or trust company having an office in the
Borough of Manhattan, The City of New York, which shall be appointed by the Depositary to register American Depositary Shares and transfers of American Depositary Shares as herein provided. 
 SECTION 1.16 Restricted Securities. 
 The term “Restricted Securities” shall mean collectively or individually, as the context may require, Shares, or American Depositary Shares representing such Shares, which (i) are acquired directly or indirectly from the
Company or its affiliates (as defined in Rule 144 under the Securities Act) in a transaction or chain of transactions not involving any public offering or which are subject to resale limitations under Regulation D under that Act or both,
(ii) are held directly or indirectly by an officer, director (or persons performing similar functions) or other affiliate of the Company, (iii) would require registration under the Securities Act in connection with the public offer and
sale thereof in the United States, (iv) are subject to other restrictions on sale or deposit under the laws of the United States, the People’s Republic of China, the Cayman Islands or Hong Kong, or under a shareholder agreement or the
Memorandum and Articles of Association of the Company unless, in each case (x) the sale of such Shares in the United States would be covered by an effective registration statement under the Securities Act or (y) the transaction is exempt
from the registration requirements of the Securities Act (as hereinafter defined), and the Shares are not, when deposited, Restricted Securities. 
 SECTION 1.17 Securities Act. 
 The term “Securities Act” shall mean the United States Securities Act of 1933, as
from time to time amended. 
 SECTION 1.18 Shares. 
 The term “Shares” shall mean Ordinary Shares in registered form of the Company, heretofore validly issued and outstanding and fully paid, nonassessable and that were not issued in violation of any
pre-emptive rights of the holders of outstanding Shares or hereafter validly issued and outstanding and fully paid, nonassessable and that were not issued in violation of any pre-emptive rights of the holders of outstanding Shares or interim
certificates representing such Shares. 
  

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	ARTICLE 2.	FORM OF RECEIPTS, DEPOSIT OF SHARES, DELIVERY, TRANSFER AND SURRENDER OF 

	    	AMERICAN DEPOSITARY SHARES. 

 SECTION 2.1 Form
of Receipts; Registration and Transferability of American Depositary Shares. 
 Definitive Receipts shall be substantially in the form
set forth in Exhibit A annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any
purpose, unless such Receipt shall have been executed by the Depositary by the manual signature of a duly authorized signatory of the Depositary; provided, however, that such signature may be a facsimile if a Registrar for the Receipts
shall have been appointed and such Receipts are countersigned by the manual or facsimile signature of a duly authorized officer of the Registrar. The Depositary shall maintain books on which (i) each Receipt so executed and delivered as
hereinafter provided and the transfer of each such Receipt shall be registered and (ii) all American Depositary Shares delivered as hereinafter provided and all registrations of transfer of American Depositary Shares shall be registered.
Receipts bearing the manual or facsimile signature of a duly authorized signatory of the Depositary who was at any time a proper signatory of the Depositary shall bind the Depositary, notwithstanding that such signatory has ceased to hold such
office prior to the execution and delivery of such Receipts by the Registrar or did not hold such office on the date of issuance of such Receipts. 
 The Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or modifications not inconsistent with the provisions of this Deposit Agreement as may be required by the Depositary or required to comply
with any applicable law or regulations thereunder or with the rules and regulations of any securities exchange (which, for all purposes hereof, shall include the Nasdaq Stock Market Inc.) upon which American Depositary Shares may be listed or to
conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject by reason of the date of issuance of the underlying Deposited Securities or otherwise. 
 American Depositary Shares evidenced by a Receipt, when properly endorsed or accompanied by proper instruments of transfer, shall be transferable as
certificated registered securities under the laws of New York. American Depositary Shares not evidenced by Receipts shall be transferable as uncertificated registered securities under the laws of New York. The Depositary, notwithstanding any notice
to the contrary, may treat the Owner of American Depositary Shares whether or not such American Depositary Shares are evidenced by a Receipt as the absolute owner thereof for the purpose of determining the person entitled to distribution of
dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
  

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 SECTION 2.2 Deposit of Shares. 
 Subject to the terms and conditions of this Deposit Agreement, Shares or evidence of rights to receive Shares may be deposited by delivery thereof to any
Custodian hereunder, accompanied by any appropriate instrument or instruments or instructions for transfer, or endorsement, in form satisfactory to the Custodian, together with all such certifications as may reasonably be required by the Depositary
or the Custodian in accordance with the provisions of this Deposit Agreement, and, if the Depositary requires, together with a written order directing the Depositary to deliver to, or upon the written order of, the person or persons stated in such
order, the number of American Depositary Shares representing such deposit. No Share shall be accepted for deposit unless accompanied by evidence satisfactory to the Depositary that any necessary approval has been granted by any governmental body in
the Cayman Islands or the People’s Republic of China which is then performing the function of the regulation of currency exchange. If required by the Depositary, Shares presented for deposit at any time, whether or not the transfer books of the
Company or the Foreign Registrar, if applicable, are closed, shall also be accompanied by an agreement or assignment, or other instrument satisfactory to the Depositary, which will provide for the prompt transfer to the Custodian of any dividend, or
right to subscribe for additional Shares or to receive other property which any person in whose name the Shares are or have been recorded may thereafter receive upon or in respect of such deposited Shares, or in lieu thereof, such agreement of
indemnity or other agreement as shall be satisfactory to the Depositary. 
 At the request and risk and expense of any person proposing to
deposit Shares, and for the account of such person, the Depositary may receive certificates for Shares to be deposited, together with the other instruments herein specified, for the purpose of forwarding such Share certificates to the Custodian for
deposit hereunder. 
 Upon each delivery to a Custodian of a certificate or certificates for Shares to be deposited hereunder, together with
the other documents above specified, such Custodian shall, as soon as transfer and recordation can be accomplished, present such certificate or certificates to the Company or the Foreign Registrar, if applicable, for transfer and recordation of the
Shares being deposited in the name of the Depositary or its nominee or such Custodian or its nominee. 
 Deposited Securities shall be held
by the Depositary or by a Custodian for the account and to the order of the Depositary or at such other place or places as the Depositary shall determine. 
  

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 SECTION 2.3 Delivery of American Depositary Shares. 
 Upon receipt by any Custodian of any deposit pursuant to Section 2.2 hereunder (and in addition, if the transfer books of the Company or the Foreign
Registrar, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgment or other evidence from the Company that any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar,
if applicable, in the name of the Depositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified, such Custodian shall notify the Depositary of such deposit and the person or persons to
whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered. Such notification shall be made by letter or, at the request, risk and expense of the
person making the deposit, by cable, telex or facsimile transmission. Upon receiving such notice from such Custodian, or upon the receipt of Shares or evidence of the right to receive Shares by the Depositary, the Depositary, subject to the terms
and conditions of this Deposit Agreement, shall deliver, to or upon the order of the person or persons entitled thereto, the number of American Depositary Shares issuable in respect of that deposit, but only upon payment to the Depositary of the
fees and expenses of the Depositary for the delivery of such American Depositary Shares as provided in Section 5.9, and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Deposited
Securities. 
 SECTION 2.4 Registration of Transfer of American Depositary Shares; Combination and Split-up of Receipts; Interchange of
Certificated and Uncertificated American Depositary Shares. 
 The Depositary, subject to the terms and conditions of this Deposit
Agreement, shall register transfers of American Depositary Shares on its transfer books from time to time, upon any surrender of American Depositary Shares, by the Owner in person or by a duly authorized attorney, properly endorsed or accompanied by
proper instruments of transfer or pursuant to a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as provided in Section 2.10), as the case may be, and duly stamped as may be required by the laws of
the State of New York and of the United States of America. Thereupon the Depositary shall deliver the number of American Depositary Shares surrendered to or upon the order of the person entitled thereto. 
 The Depositary, subject to the terms and conditions of this Deposit Agreement, shall upon surrender of a Receipt or Receipts for the purpose of effecting
a split-up or combination of such Receipt or Receipts, execute and deliver a new Receipt or Receipts for any authorized number of American Depositary Shares requested, evidencing the same aggregate number of American Depositary Shares as the Receipt
or Receipts surrendered. 
  

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 The Depositary, upon surrender of a Receipt for the purpose of exchanging for uncertificated American
Depositary Shares, shall cancel that Receipt and send the Owner a statement confirming that the Owner is the owner of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper instruction (including, for the avoidance of
doubt, instructions through DRS and Profile as provided in Section 2.10) from the Owner of uncertificated American Depositary Shares for the purpose of exchanging for certificated American Depositary Shares, shall execute and deliver to the
Owner a Receipt evidencing those American Depositary Shares. 
 The Depositary may, with notice given as promptly as practicable to the
Company, appoint one or more co-transfer agents for the purpose of effecting registration of transfers of American Depositary Shares and combinations and split-ups of Receipts at designated transfer offices on behalf of the Depositary. In carrying
out its functions, a co-transfer agent may require evidence of authority and compliance with applicable laws and other requirements by Owners or persons entitled to American Depositary Shares and will be entitled to protection and indemnity to the
same extent as the Depositary. The Depositary shall require each co-transfer agent that it appoints under this Section 2.4 to give notice in writing to the Depositary accepting such appointment and agreeing to abide by the applicable terms of
this Deposit Agreement. 
 SECTION 2.5 Surrender of American Depositary Shares and Withdrawal of Deposited Securities. 
 Upon surrender at the Corporate Trust Office of the Depositary of American Depositary Shares for the purpose of withdrawal of the Deposited Securities
represented thereby, and upon payment of the fee of the Depositary for the surrender of American Depositary Shares as provided in Section 5.9 and payment of all taxes and governmental charges payable in connection with such surrender and
withdrawal of the Deposited Securities, and subject to the terms and conditions of this Deposit Agreement, the Owner of those American Depositary Shares shall be entitled to delivery, to such Owner or at his instruction, of the amount of Deposited
Securities at the time represented by those American Depositary Shares. Delivery of such Deposited Securities may be made by the delivery of (a) certificates or account transfer for Shares in the name of such Owner with proper endorsement or
accompanied by proper instruments or instructions of transfer to such Owner or pursuant to proper delivery instructions and (b) any other securities, property and cash to which such Owner is then entitled in respect of those American Depositary
Shares to such Owner or such person or persons as instructed. Such delivery shall be made, as hereinafter provided, without unreasonable delay. 
 A Receipt surrendered for such purposes may be required by the Depositary to be properly endorsed in blank or accompanied by proper instruments of transfer in blank. The Depositary may require the surrendering Owner to execute and deliver
to the Depositary a written order directing the Depositary to cause the Deposited Securities being withdrawn to be delivered to or upon the written order of a person or 
  

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 persons designated in such order in the manner provided in the preceding paragraph. Thereupon the Depositary shall direct
the Custodian to deliver at the office of such Custodian, subject to Sections 2.6, 3.1 and 3.2 and to the other terms and conditions of this Deposit Agreement, to or upon the written order of the person or persons designated in the order delivered
to the Depositary as above provided, the amount of Deposited Securities represented by the surrendered American Depositary Shares, except that the Depositary may make delivery to such person or persons at the Corporate Trust Office of the Depositary
of any dividends or distributions with respect to the Deposited Securities represented by those American Depositary Shares, or of any proceeds of sale of any dividends, distributions or rights, which may at the time be held by the Depositary.

 At the request, risk and expense of any Owner so surrendering American Depositary Shares, and for the account of such Owner, the
Depositary shall direct the Custodian to forward any cash or other property (other than rights) comprising, and forward a certificate or certificates, if applicable, and other proper documents of title for, the Deposited Securities represented by
the American Depositary Shares (evidenced by such Receipt, if applicable) to the Depositary for delivery at the Corporate Trust Office of the Depositary. Such direction shall be given by letter or, at the request, risk and expense of such Owner, by
cable, telex or facsimile transmission. 
 The Depositary shall not deliver the Deposited Securities except (i) upon surrender
of American Depositary Shares under this Section 2.5, (ii) in a surrender of the Deposited Securities to the Company or its agent in a transaction to which Section 4.8 applies or (iii) in connection with a sale
of the Deposited Securities permitted under Section 3.2, 4.3, 4.4, 4.11 or 6.2. 
 SECTION 2.6 Limitations on Delivery,
Transfer and Surrender of American Depositary Shares. 
 As a condition precedent to the delivery, registration of transfer, or surrender
of any American Depositary Shares or split-up or combination of any Receipt or withdrawal of any Deposited Securities, the Depositary, Custodian or Registrar may require payment from the depositor of Shares or the presenter of the Receipt or
instruction for registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a sum sufficient to reimburse it for any tax, stamp duty or other governmental charge and any stock transfer or registration fee with
respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees as herein provided, may require the production of proof satisfactory to it as to the identity and
genuineness of any signature and may also require compliance with any regulations the Depositary may establish consistent with the provisions of this Deposit Agreement, including, without limitation, this Section 2.6. 
  

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 The delivery of American Depositary Shares against deposits of Shares generally or against deposits of
particular Shares may be suspended, or the transfer of American Depositary Shares in particular instances may be refused, or the registration of transfer of outstanding American Depositary Shares generally may be suspended, during any period when
the transfer books of the Depositary are closed as provided in Section 5.1, or if any such action is deemed necessary or advisable by the Depositary or the Company at any time or from time to time because of any requirement of law or of any
government or governmental body or commission, or under any provision of this Deposit Agreement, or for any other reason, subject to the provisions of Section 7.7. Notwithstanding any other provision of this Deposit Agreement, the surrender of
outstanding American Depositary Shares and withdrawal of Deposited Securities may not be suspended subject only to (i) temporary delays caused by closing the transfer books of the Depositary or the Company or the Foreign Registrar, if
applicable, or the deposit of Shares in connection with voting at a shareholders’ meeting, or the payment of dividends, (ii) the payment of fees, taxes and similar charges, and (iii) compliance with any U.S. or foreign laws or
governmental regulations relating to the American Depositary Shares or to the withdrawal of the Deposited Securities. Without limitation of the foregoing, the Depositary shall not knowingly accept for deposit under this Deposit Agreement any Shares
required to be registered under the provisions of the Securities Act for public sale in the United States, unless a registration statement is in effect as to such Shares. 
 SECTION 2.7 Lost Receipts, etc. 
 In case any Receipt shall be mutilated, destroyed, lost or stolen,
the Depositary shall execute and deliver a new Receipt of like tenor in exchange and substitution for such mutilated Receipt upon cancellation thereof, or in lieu of and in substitution for such destroyed, lost or stolen Receipt. Before the
Depositary shall execute and deliver a new Receipt in substitution for a destroyed, lost or stolen Receipt, the Owner thereof shall have (a) filed with the Depositary (i) a request for such execution and delivery before the Depositary has
notice that the Receipt has been acquired by a bona fide purchaser and (ii) a sufficient indemnity bond and (b) satisfied any other reasonable requirements imposed by the Depositary. 
 SECTION 2.8 Cancellation and Destruction of Surrendered Receipts. 
 All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled. 
 SECTION 2.9 Pre-Release of American Depositary Shares. 
 Unless requested in writing by the Company to cease doing so, the Depositary may, notwithstanding Section 2.3, deliver American Depositary Shares prior to the receipt of Shares pursuant to Section 2.2
(“Pre-Release”). The Depositary may, pursuant to Section 2.5, deliver Shares upon the surrender of American Depositary Shares that have been Pre-Released, whether or not such cancellation is prior to the termination of such
Pre-Release or the Depositary knows that such American Depositary Shares have 
  

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 been Pre-Released. The Depositary may receive American Depositary Shares in lieu of Shares in satisfaction of a
Pre-Release. Each Pre-Release will be (a) preceded or accompanied by a written representation and agreement from the person to whom American Depositary Shares are to be delivered (the “Pre-Releasee”) that the Pre-Releasee, or its
customer, (i) owns the Shares or American Depositary Shares to be remitted, as the case may be (ii) assigns all beneficial rights, title and interest in such Shares or American Depositary Shares, as the case may be, to the Depositary in
its capacity as such and for the benefit of the Owners, and (iii) will not take any action with respect to such Shares or American Depositary Shares, as the case may be, that is inconsistent with the transfer of beneficial ownership (including,
without the consent of the Depositary, disposing of such Shares or American Depositary Shares, as the case may be), other than in satisfaction of such Pre-Release, (b) at all times fully collateralized with cash, U.S. government securities or
such other collateral as the Depositary determines, in good faith, will provide substantially similar liquidity and security, (c) terminable by the Depositary on not more than five (5) business days notice, and (d) subject to such
further indemnities and credit regulations as the Depositary deems appropriate. The number of Shares not deposited but represented by American Depositary Shares outstanding at any time as a result of Pre-Releases will not normally exceed thirty
percent (30%) of the Shares deposited hereunder; provided, however, that the Depositary reserves the right to disregard such limit from time to time as it deems reasonably appropriate, and may, with the prior written consent of the Company,
change such limit for purposes of general application. The Depositary will also set Dollar limits with respect to Pre-Release transactions to be entered into hereunder with any particular Pre-Releasee on a case-by-case basis as the Depositary deems
appropriate. For purposes of enabling the Depositary to fulfill its obligations to the Owners under the Deposit Agreement, the collateral referred to in clause (b) above shall be held by the Depositary as security for the performance of the
Pre-Releasee’s obligations to the Depositary in connection with a Pre-Release transaction, including the Pre-Releasee’s obligation to deliver American Depositary Shares upon termination of a Pre-Release transaction (and shall not, for the
avoidance of doubt, constitute Deposited Securities hereunder). 
 The Depositary may retain for its own account any compensation received by
it in connection with the foregoing. 
 SECTION 2.10 DTC Direct Registration System and Profile Modification System. 
 (a) Notwithstanding the provisions of Section 2.4, the parties acknowledge that the Direct Registration System (“DRS”) and Profile
Modification System (“Profile”) shall apply to uncertificated American Depositary Shares upon acceptance thereof to DRS by DTC. DRS is the system administered by DTC pursuant to which the Depositary may register the ownership of
uncertificated American Depositary Shares, which ownership shall be evidenced by periodic statements issued by the 
  

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 Depositary to the Owners entitled thereto. Profile is a required feature of DRS which allows a DTC participant, claiming
to act on behalf of an Owner, to direct the Depositary to register a transfer of those American Depositary Shares to DTC or its nominee and to deliver those American Depositary Shares to the DTC account of that DTC participant without receipt by the
Depositary of prior authorization from the Owner to register such transfer. 
 (b) In connection with and in accordance with the arrangements
and procedures relating to DRS/Profile, the parties understand that the Depositary will not verify, determine or otherwise ascertain that the DTC participant which is claiming to be acting on behalf of an Owner in requesting registration of transfer
and delivery described in subsection (a) has the actual authority to act on behalf of the Owner (notwithstanding any requirements under the Uniform Commercial Code). For the avoidance of doubt, the provisions of Sections 5.3 and 5.8 shall also
apply to the matters arising from the use of the DRS. The parties agree that the Depositary’s reliance on and compliance with instructions received by the Depositary through the DRS/Profile System and in accordance with this Deposit Agreement,
shall not constitute negligence or bad faith on the part of the Depositary. 
 ARTICLE 3.    CERTAIN OBLIGATIONS OF OWNERS AND
BENEFICIAL OWNERS OF AMERICAN DEPOSITARY 
                            SHARES. 
 SECTION 3.1 Filing Proofs, Certificates and Other Information. 
 Any person presenting Shares for deposit or any Owner or Beneficial Owner of a Receipt may be required from time to time to file with the Depositary or the Custodian such proof of citizenship or residence, exchange
control approval, or such information relating to the registration on the books of the Company or the Foreign Registrar, if applicable, to execute such certificates and to make such representations and warranties, as the Depositary may deem
necessary or proper. The Depositary may withhold the delivery or registration of transfer of any American Depositary Shares or the distribution of any dividend or sale or distribution of rights or of the proceeds thereof or the delivery of any
Deposited Securities until such proof or other information is filed or such certificates are executed or such representations and warranties made. If requested in writing, the Depositary shall, as promptly as practicable, provide the Company, at the
expense of the Company, with copies of any such proofs, certificates or other information it receives pursuant to this section, unless prohibited by applicable law. 
 SECTION 3.2 Liability of Owner for Taxes. 
 If any tax or other governmental charge shall become
payable by the Custodian or the Depositary with respect to any American Depositary Shares or any Deposited Securities represented by any American Depositary Shares, such tax or other governmental charge shall be payable by the Owner of such American
Depositary Shares to the Depositary. The Depositary may refuse to register any transfer of those American 
  

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 Depositary Shares or any withdrawal of Deposited Securities represented by those American Depositary Shares until such
payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Owner thereof any part or all of the Deposited Securities represented by those American Depositary Shares, and may apply such dividends or
other distributions or the proceeds of any such sale in payment of such taxes or other governmental charge and the Owner of such American Depositary Shares shall remain liable for any deficiency. 
 SECTION 3.3 Warranties on Deposit of Shares. 
 Every person depositing Shares under this Deposit Agreement shall be deemed thereby to represent and warrant that such Shares and each certificate therefor, if applicable, are validly issued, fully paid, nonassessable and were not issued in
violation of any pre-emptive rights of the holders of outstanding Shares and that the person making such deposit is duly authorized so to do. Every such person shall also be deemed to represent that the Shares are eligible for deposit in accordance
with this Deposit Agreement and the General Instructions to Form F-6 under the Securities Act, and American Depositary Shares representing the Shares would not be, Restricted Securities. All representations and warranties deemed made under this
Section 3.3 shall survive the deposit of Shares and delivery or surrender of American Depositary Shares. 
 ARTICLE 4.    THE
DEPOSITED SECURITIES. 
 SECTION 4.1 Cash Distributions. 
 Whenever the Depositary shall receive any cash dividend or other cash distribution on any Deposited Securities, the Depositary shall, subject to the
provisions of Section 4.5, convert such dividend or distribution into Dollars and shall distribute the amount thus received (net of the fees and expenses of the Depositary as provided in Section 5.9 hereof, if applicable) to the Owners
entitled thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities held by them respectively; provided, however, that in the event that the Company or the Depositary shall be required to withhold and
does withhold from such cash dividend or such other cash distribution an amount on account of taxes or other governmental charges, the amount distributed to the Owner of the American Depositary Shares representing such Deposited Securities shall be
reduced accordingly. The Depositary shall distribute only such amount, however, as can be distributed without attributing to any Owner a fraction of one cent. Any such fractional amounts shall be rounded to the nearest whole cent and so distributed
to Owners entitled thereto. The Company or its agent will remit to the appropriate governmental agency in the Cayman Islands or the People’s Republic of China all amounts withheld and owing to such agency. The Depositary will forward to the
Company or its agent such information from its records as the Company may reasonably request to enable the Company or its agent to file necessary reports with governmental agencies, and the Depositary or the Company or its agent may file any such
reports necessary to obtain benefits under the applicable tax treaties for the Owners. 
  

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 SECTION 4.2 Distributions Other Than Cash, Shares or Rights. 
 Subject to the provisions of Section 4.11 and Section 5.9, whenever the Depositary shall receive any distribution other than a distribution
described in Sections 4.1, 4.3 or 4.4, the Depositary shall, subject to all applicable laws, cause the securities or property received by it to be distributed to the Owners entitled thereto, after deduction or upon payment of any fees and expenses
of the Depositary or any taxes or other governmental charges, in proportion to the number of American Depositary Shares representing such Deposited Securities held by them respectively, in any manner that the Depositary may deem equitable and
practicable for accomplishing such distribution; provided, however, that if in the opinion of the Depositary such distribution cannot be made proportionately among the Owners entitled thereto, or if for any other reason (including, but
not limited to, any requirement that the Company or the Depositary withhold an amount on account of taxes or other governmental charges or that such securities must be registered under the Securities Act in order to be distributed to Owners or
Beneficial Owners) the Depositary deems such distribution not to be feasible, the Depositary may adopt such method as it may deem equitable and practicable for the purpose of effecting such distribution, including, but not limited to, the public or
private sale of the securities or property thus received, or any part thereof, and the net proceeds of any such sale (net of the fees and expenses of the Depositary as provided in Section 5.9) shall be distributed by the Depositary to the
Owners entitled thereto as in the case of a distribution received in cash. The Depositary may refuse to effect any distribution of securities under this Section 4.2 unless it has received an opinion of United States counsel for the Company that
is satisfactory to the Depositary that the distribution does not require registration under the Securities Act. 
 SECTION 4.3
Distributions in Shares. 
 If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of,
Shares, the Depositary may, and shall if the Company shall so request in writing, deliver to the Owners entitled thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities held by them respectively, an
aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to the terms and conditions of the Deposit Agreement with respect to the deposit of Shares and the issuance of
American Depositary Shares, including the withholding of any tax or other governmental charge as provided in Section 4.11 and the payment of fees and expenses of the Depositary as provided in Section 5.9. In lieu of delivering fractional
American Depositary Shares in any such case, the Depositary shall use reasonable efforts to sell the amount of Shares represented by the aggregate of such fractions and distribute any net proceeds to the Owners entitled to them, all in the manner
and subject to the conditions described in Section 4.1. If additional American Depositary Shares are not so delivered, each American Depositary Share shall thenceforth also represent the additional Shares distributed upon the Deposited
Securities represented thereby. 
  

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 SECTION 4.4 Rights. 
 In the event that the Company shall offer or cause to be offered to the holders of any Deposited Securities any rights to subscribe for additional Shares or any rights of any other nature, the Depositary shall have
discretion as to the procedure to be followed in making such rights available to any Owners entitled to them or in disposing of such rights on behalf of any Owners otherwise entitled to them and making the net proceeds available to such Owners or,
if by the terms of such rights offering or for any other reason, the Depositary may not either make such rights available to any Owners or dispose of such rights and make the net proceeds available to such Owners, then the Depositary shall allow the
rights to lapse. If at the time of the offering of any rights the Depositary determines in its reasonable discretion that it is lawful and feasible to make such rights available to all Owners or to certain Owners but not to other Owners, the
Depositary may distribute to any Owner to whom it determines the distribution to be lawful and feasible, in proportion to the number of American Depositary Shares held by such Owner, warrants or other instruments therefor in such form as it deems
appropriate. 
 In circumstances in which rights would otherwise not be distributed, if an Owner of Receipts requests the distribution of
warrants or other instruments in order to exercise the rights allocable to the American Depositary Shares of such Owner hereunder, the Depositary will make such rights available to such Owner upon written notice from the Company to the Depositary
that (a) the Company has elected in its sole discretion to permit such rights to be exercised and (b) such Owner has executed such documents as the Company has determined in its sole discretion are reasonably required under applicable law.

 If the Depositary has distributed warrants or other instruments for rights to all or certain Owners, then upon instruction from such an
Owner pursuant to such warrants or other instruments to the Depositary from such Owner to exercise such rights, upon payment by such Owner to the Depositary for the account of such Owner of an amount equal to the purchase price of the Shares to be
received upon the exercise of the rights, and upon payment of the fees and expenses of the Depositary and any other charges as set forth in such warrants or other instruments, the Depositary shall, on behalf of such Owner, exercise the rights and
purchase the Shares, and the Company shall cause the Shares so purchased to be delivered to the Depositary on behalf of such Owner. As agent for such Owner, the Depositary will cause the Shares so purchased to be deposited pursuant to
Section 2.2 of this Deposit Agreement, and shall, pursuant to Section 2.3 of this Deposit Agreement, deliver American Depositary Shares to such Owner. In the case of a distribution pursuant to the second paragraph of this section, such
deposit shall be made, and Deposited Securities shall be delivered, under depositary arrangements which provide for issuance of Deposited Securities subject to the appropriate restrictions on sale, deposit, cancellation, and transfer under
applicable United States laws. 
  

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 If the Depositary determines in its reasonable discretion that it is not lawful and feasible to make such
rights available to all or certain Owners, it may sell the rights, warrants or other instruments in proportion to the number of American Depositary Shares held by the Owners to whom it has determined it may not lawfully or feasibly make such rights
available, and allocate the net proceeds of such sales (net of the fees and expenses of the Depositary as provided in Section 5.9 and all taxes and governmental charges payable in connection with such rights and subject to the terms and
conditions of this Deposit Agreement) for the account of such Owners otherwise entitled to such rights, warrants or other instruments, upon an averaged or other practical basis without regard to any distinctions among such Owners because of exchange
restrictions or the date of delivery of any American Depositary Shares or otherwise. 
 The Depositary will not offer rights to Owners unless
both the rights and the securities to which such rights relate are either exempt from registration under the Securities Act with respect to a distribution to Owners or are registered under the provisions of such Act; provided, however,
that nothing in this Deposit Agreement shall create any obligation on the part of the Company to file a registration statement with respect to such rights or underlying securities or to endeavor to have such a registration statement declared
effective. If an Owner requests distribution of warrants or other instruments, notwithstanding that there has been no such registration under the Securities Act, the Depositary shall not effect such distribution unless it has received an opinion
from recognized counsel in the United States for the Company upon which the Depositary may rely that such distribution to such Owner is exempt from such registration; provided, however, that the Company will have no obligation to cause
its counsel to issue such opinion at the request of such Owner. 
 The Depositary shall not be responsible for any reasonable failure to
determine that it may be lawful or feasible to make such rights available to Owners in general or any Owner in particular. 
 SECTION 4.5
Conversion of Foreign Currency. 
 Whenever the Depositary or the Custodian shall receive foreign currency, by way of dividends or
other distributions or the net proceeds from the sale of securities, property or rights, and if at the time of the receipt thereof the foreign currency so received can in the judgment of the Depositary be converted on a reasonable basis into Dollars
and the resulting Dollars transferred to the United States, the Depositary shall convert or cause to be converted, by sale or in any other manner that it may determine, such foreign currency into Dollars, and such Dollars shall be distributed to the
Owners entitled thereto or, if the Depositary shall have distributed any warrants or other instruments which entitle the holders thereof to such Dollars, then to the holders of such warrants and/or 
  

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 instruments upon surrender thereof for cancellation. Such distribution may be made upon an averaged or other practicable
basis without regard to any distinctions among Owners on account of exchange restrictions, the date of delivery of any American Depositary Shares or otherwise and shall be net of any expenses of conversion into Dollars incurred by the Depositary as
provided in Section 5.9. 
 If such conversion or distribution can be effected only with the approval or license of any government or
agency thereof, the Depositary shall file such application for approval or license, if any, as it may deem desirable. 
 If at any time the
Depositary shall determine that in its judgment any foreign currency received by the Depositary or the Custodian is not convertible on a reasonable basis into Dollars transferable to the United States, or if any approval or license of any government
or agency thereof which is required for such conversion is denied or in the opinion of the Depositary is not obtainable without excessively burdensome or otherwise unreasonable efforts, or if any such approval or license is not obtained within a
reasonable period as determined by the Depositary, or if there are foreign exchange controls in place that prohibit such conversion, the Depositary may distribute the foreign currency (or an appropriate document evidencing the right to receive such
foreign currency) received by the Depositary to, or in its discretion may hold such foreign currency uninvested and without liability for interest thereon for the respective accounts of, the Owners entitled to receive the same. 
 If any such conversion of foreign currency, in whole or in part, cannot be effected for distribution to some of the Owners entitled thereto, the
Depositary may in its discretion make such conversion and distribution in Dollars to the extent permissible to the Owners entitled thereto and may distribute the balance of the foreign currency received by the Depositary to, or hold such balance
uninvested and without liability for interest thereon for the respective accounts of, the Owners entitled thereto. 
 SECTION 4.6 Fixing
of Record Date. 
 Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall
be made, or whenever rights shall be issued with respect to the Deposited Securities, or whenever for any reason the Depositary causes a change in the number of Shares that are represented by each American Depositary Share, or whenever the
Depositary shall receive notice of any meeting of holders of Shares or other Deposited Securities or whenever the Depositary shall find it necessary or convenient, the Depositary shall fix a record date, which date shall be the same date, to the
extent practicable, as the record date for the Deposited Securities or if different, as close thereto as practicable (a) for the determination of the Owners who shall be (i) entitled to receive such dividend, distribution or rights or the
net proceeds of the sale thereof or (ii) entitled to give instructions for the exercise of voting rights at any such, (b) on or after which each American Depositary Share will represent 
  

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 the changed number of Shares or (c) for any other matter. Subject to the provisions of Sections 4.1 through 4.5 and
to the other terms and conditions of this Deposit Agreement, the Owners on such record date shall be entitled, as the case may be, to receive the amount distributable by the Depositary with respect to such dividend or other distribution or such
rights or the net proceeds of sale thereof in proportion to the number of American Depositary Shares held by them respectively and to give voting instructions and to act in respect of any other such matter. 
 SECTION 4.7 Voting of Deposited Securities. 
 Upon receipt of notice of any meeting of holders of Shares or other Deposited Securities, if requested in writing by the Company the Depositary shall, as soon as practicable thereafter, mail to the Owners a notice, the form of which notice
shall be in the discretion of the Depositary and shall contain (a) such information as is contained in such notice of meeting, and (b) a statement that the Owners as of the close of business on a specified record date will be entitled,
subject to any applicable provision of the People’s Republic of China and Cayman Islands law and of the Memorandum and Articles of Association of the Company, to instruct the Depositary as to the exercise of the voting rights, if any,
pertaining to the amount of Shares or other Deposited Securities represented by their respective American Depositary Shares and (c) a statement as to the manner in which such instructions may be given, including an express indication that such
instructions may be given or deemed given in accordance with the last sentence of this paragraph if no instruction is received, to the Depositary to give a discretionary proxy to a person designated by the Company. Upon the written request of an
Owner of a Receipt on such record date, received on or before the date established by the Depositary for such purpose (the “Instruction Date”), the Depositary shall endeavor, in so far as practicable, to vote or cause to be voted the
amount of Shares or other Deposited Securities represented by the American Depositary Shares evidenced by such Receipt in accordance with the instructions set forth in such request. The Depositary shall not vote or attempt to exercise the right to
vote that attaches to such Shares or other Deposited Securities other than in accordance with such instructions or deemed instructions. If no instructions are received by the Depositary from any Owner with respect to any of the Deposited Securities
represented by the American Depositary Shares evidenced by such Owner’s Receipts on or before the date established by the Depositary for such purpose, the Depositary shall deem such Owner to have instructed the Depositary to give a
discretionary proxy to a person designated by the Company with respect to such Deposited Securities and the Depositary shall give a discretionary proxy to a person designated by the Company to vote such Deposited Securities; provided, that no
such instruction shall be deemed given and no such discretionary proxy shall be given with respect to any matter as to which the Company informs the Depositary (and the Company agrees to provide such information as promptly as practicable in
writing) that (x) the Company does not wish such proxy given, (y) substantial opposition exists or (z) such matter materially and adversely affects the rights of holders of Shares. 
  

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 In order to give Owners a reasonable opportunity to instruct the Depositary as to the exercise of voting
rights relating to Deposited Securities, if the Company requests the Depositary to act under the preceding paragraph, the Company shall give the Depositary notice of any such meeting not less than 30 days prior to the meeting date. 
 There can be no assurance that Owners generally or any Owner in particular will receive the notice described in the first paragraph of this
Section 4.7 sufficiently prior to the Instruction Date to ensure that the Depositary will vote the Shares or Deposited Securities in accordance with the provisions of that paragraph. 
 SECTION 4.8 Changes Affecting Deposited Securities. 
 In circumstances where the provisions of Section 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of Deposited Securities, or upon any
recapitalization, reorganization, merger or consolidation or sale of assets affecting the Company or to which it is a party, any securities which shall be received by the Depositary or a Custodian in exchange for or in conversion of or in respect of
Deposited Securities, shall be treated as new Deposited Securities under this Deposit Agreement, and American Depositary Shares shall thenceforth represent, in addition to the existing Deposited Securities, if any, the new Deposited Securities so
received in exchange or conversion, unless additional Receipts are delivered pursuant to the following sentence. In any such case the Depositary may execute and deliver additional Receipts as in the case of a dividend in Shares, or call for the
surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such new Deposited Securities. 
 SECTION 4.9
Reports. 
 The Depositary shall make available for inspection by Owners at its Corporate Trust Office, as promptly as practicable
after receipt, any reports and communications, including any proxy soliciting material, received from the Company which are both (a) received by the Depositary as the holder of the Deposited Securities and (b) made generally available to
the holders of such Deposited Securities by the Company. The Depositary shall also send to the Owners copies of such reports furnished by the Company pursuant to Section 5.6. Any such reports and communications, including any such proxy
soliciting material, furnished to the Depositary by the Company shall be furnished in English. 
 SECTION 4.10 Lists of Owners.

 Promptly upon request by the Company, the Depositary shall, at the expense of the Company, furnish to it a list, as of a recent date, of
the names, addresses and holdings of American Depositary Shares by all persons in whose names American Depositary Shares are registered on the books of the Depositary. 
  

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 SECTION 4.11 Withholding. 
 The Company or its agent will remit to the appropriate governmental agencies in the Cayman Islands and the People’s Republic of China all amounts
withheld and owing to such agencies. The Depositary will forward to the Company or its agent such information from its records as the Company may reasonably request to enable the Company or its agent to file necessary reports with governmental
agencies, and the Depositary or the Company or its agent may file any such reports necessary to obtain benefits under the applicable tax treaties for the Owners of Receipts. 
 In the event that the Depositary determines that any distribution in property (including Shares and rights to subscribe therefor) is subject to any tax
or other governmental charge which the Depositary is obligated to withhold, the Depositary may by public or private sale dispose of all or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in such
manner as the Depositary deems necessary and practicable to pay any such taxes or charges and the Depositary shall distribute the net proceeds of any such sale after deduction of such taxes or charges to the Owners entitled thereto in proportion to
the number of American Depositary Shares held by them respectively. 
 ARTICLE 5.    THE DEPOSITARY, THE CUSTODIANS AND THE COMPANY.

 SECTION 5.1 Maintenance of Office and Transfer Books by the Depositary. 
 Until termination of this Deposit Agreement in accordance with its terms, the Depositary shall maintain in the Borough of Manhattan, The City of New
York, facilities for the execution and delivery, registration, registration of transfers and surrender of Receipts in accordance with the provisions of this Deposit Agreement. 
 The Depositary shall keep books at its Corporate Trust Office for the registration of American Depositary Shares and transfers of American Depositary
Shares which at all reasonable times shall be open for inspection by the Owners and the Company, provided that such inspection shall not be for the purpose of communicating with Owners in the interest of a business or object other than the business
of the Company or a matter related to this Deposit Agreement or the American Depositary Shares. 
 The Depositary may close the transfer
books, at any time or from time to time, when deemed expedient by it in connection with the performance of its duties hereunder or at the reasonable written request of the Company. 
 If any American Depositary Shares are listed on one or more stock exchanges in the United States, the Depositary shall act as Registrar or, with notice
given as promptly as practicable to the Company, appoint a Registrar or one or more co-registrars for registry of American Depositary Shares in accordance with any requirements of that exchange or exchanges. The Depositary shall require each
Registrar and co-registrar that it appoints under this Section 5.1 to give notice in writing to the Depositary accepting such appointment and agreeing to abide by the applicable terms of this Deposit Agreement. 
  

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 SECTION 5.2 Prevention or Delay in Performance by the Depositary or Company. 
 Neither the Depositary nor the Company nor any of their respective directors, officers, employees, agents or affiliates shall incur any liability to any
Owner or Beneficial Owner of any Receipt, if by reason of any provision of any present or future law or regulation of the United States, the People’s Republic of China or any other country, or of any governmental or regulatory authority or
stock exchange, or by reason of any provision, present or future, of the Memorandum and Articles of Association of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution
thereof, or by reason of any act of God or war or terrorism or other circumstances beyond its control, the Depositary or the Company shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing
or performing any act or thing which by the terms of this Deposit Agreement or the Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Company or any of their respective directors, officers, employees,
agents or affiliates incur any liability to any Owner or Beneficial Owner of any Receipt by reason of any non-performance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is
provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. Where, by the terms of a distribution pursuant to Sections 4.1, 4.2, or 4.3 of the Deposit
Agreement, or an offering or distribution pursuant to Section 4.4 of the Deposit Agreement, or for any other reason, such distribution or offering may not be made available to Owners, and the Depositary may not dispose of such distribution or
offering on behalf of such Owners and make the net proceeds available to such Owners, then the Depositary shall not make such distribution or offering, and shall allow any rights, if applicable, to lapse, in each such case without liability to the
Company or the Depositary. 
 SECTION 5.3 Obligations of the Depositary, the Custodian and the Company. 
 Neither the Company, nor its directors, officers, employees and agents assume any obligation nor shall it or any of them be subject to any liability
under this Deposit Agreement to Owners or Beneficial Owners, except that the Company agrees to perform its obligations specifically set forth in this Deposit Agreement without negligence or bad faith. 
 Neither the Depositary nor its directors, officers, employees and agents assume any obligation nor shall it or any of them be subject to any liability
under this Deposit Agreement to any Owner or Beneficial Owner of any Receipt (including, without limitation, liability with respect to the validity or worth of the Deposited Securities), except that the Depositary agrees to perform its obligations
specifically set forth in this Deposit Agreement without negligence or bad faith. 
  

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 Neither the Depositary nor the Company shall be under any obligation to appear in, prosecute or defend
any action, suit or other proceeding in respect of any Deposited Securities or in respect of the American Depositary Shares that in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expenses and
liability shall be furnished as often as may be required, and the Custodian shall not be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being solely to the Depositary. 
 Neither the Depositary nor the Company shall be liable for any action or nonaction by it in reliance upon the advice of or information from legal
counsel, accountants, any person presenting Shares for deposit, any Owner or any other person believed by it in good faith to be competent to give such advice or information. 
 The Depositary shall not be liable for any acts or omissions made by a successor depositary whether in connection with a previous act or omission of the
Depositary or in connection with any matter arising wholly after the removal or resignation of the Depositary, provided that in connection with the issue out of which such potential liability arises the Depositary performed its obligations without
negligence or bad faith while it acted as Depositary. 
 The Depositary shall not be responsible for any failure to carry out any
instructions to vote any of the Deposited Securities, or for the manner in which any such vote is cast or the effect of any such vote, provided that any such action or nonaction is in good faith. 
 No disclaimer of liability under the Securities Act is intended by any provision of this Deposit Agreement. 
 SECTION 5.4 Resignation and Removal of the Depositary. 
 The Depositary may at any time resign as Depositary hereunder by written notice of its election so to do delivered to the Company, such resignation to take effect upon the appointment of a successor depositary and its
acceptance of such appointment as hereinafter provided. 
 The Depositary may at any
time be removed by the Company by 120 days prior written notice of such removal, which shall become effective upon the later to occur of (i) the 120th day after delivery of the notice to the Depositary or (ii) the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. 
  

 - 23 - 

 In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall use
reasonable efforts to appoint a successor depositary, which shall be a bank or trust company having an office in the Borough of Manhattan, The City of New York. Every successor depositary shall execute and deliver to its predecessor and to the
Company an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor; but
such predecessor, nevertheless, upon payment of all sums due it and on the written request of the Company shall execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign,
transfer and deliver all right, title and interest in the Deposited Securities to such successor, and shall deliver to such successor a list of the Owners of all outstanding Receipts. Any such successor depositary shall promptly mail notice of its
appointment to the Owners. 
 Any corporation into or with which the Depositary may be merged or consolidated shall be the successor of the
Depositary without the execution or filing of any document or any further act. 
 SECTION 5.5 The Custodians. 
 The Custodian shall be subject at all times and in all respects to the directions of the Depositary and shall be responsible solely to it. Any Custodian
may resign and be discharged from its duties hereunder by notice of such resignation delivered to the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon the effectiveness of such resignation there
would be no Custodian acting hereunder, the Depositary shall, promptly after receiving such notice, appoint a substitute custodian or custodians, each of which shall thereafter be a Custodian hereunder. Whenever the Depositary in its discretion
determines that it is in the best interest of the Owners to do so, it may appoint a substitute or additional custodian or custodians, each of which shall thereafter be one of the Custodians hereunder. Upon demand of the Depositary any Custodian
shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Depositary, forthwith
upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. 
 Upon the appointment of any
successor depositary hereunder, each Custodian then acting hereunder shall forthwith become, without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall in no way impair
the authority of each Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian
full and complete power and authority as agent hereunder of such successor depositary. 
  

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 SECTION 5.6 Notices and Reports. 
 On or before the first date on which the Company gives notice, by publication or otherwise, of any meeting of holders of Shares or other Deposited
Securities, or of any adjourned meeting of such holders, or of the taking of any action in respect of any cash or other distributions or the offering of any rights, the Company agrees to transmit to the Depositary and the Custodian a copy of the
notice thereof in the form given or to be given to holders of Shares or other Deposited Securities. 
 The Company will arrange for the
translation into English, if not already in English, to the extent required pursuant to any regulation of the Commission, and the prompt transmittal by the Company to the Depositary and the Custodian of such notices and any other reports and
communications which are made generally available by the Company to holders of its Shares. If requested in writing by the Company, the Depositary will arrange for the mailing, at the Company’s expense, of copies of such notices, reports and
communications to all Owners. The Company will timely provide the Depositary with the quantity of such notices, reports, and communications, as requested by the Depositary from time to time, in order for the Depositary to effect such mailings.

 SECTION 5.7 Distribution of Additional Shares, Rights, etc. 
 If the Company or any affiliate of the Company determines to make any issuance or distribution of (1) additional Shares, (2) rights to
subscribe for Shares, (3) securities convertible into Shares, or (4) rights to subscribe for such securities (each a “Distribution”), the Company shall notify the Depositary in writing in English as promptly as practicable and in
any event before the Distribution starts and, if requested in writing by the Depositary, the Company shall promptly furnish to the Depositary a written opinion from U.S. counsel for the Company that is reasonably satisfactory to the Depositary,
stating whether or not the Distribution requires, or, if made in the United States, would require, registration under the Securities Act of 1933. If, in the opinion of that counsel, the Distribution requires, or, if made in the United States, would
require, registration under the Securities Act of 1933, that counsel shall furnish to the Depositary a written opinion as to whether or not there is a registration statement under the Securities Act of 1933 in effect that will cover that
Distribution. 
 The Company agrees with the Depositary that neither the Company nor any entity or person controlled by, controlling or under
common control with the Company will at any time deposit any Shares, either originally issued or previously issued and reacquired by the Company or any such affiliate, unless a Registration Statement is in effect as to such Shares under the
Securities Act or the Company furnishes to the Depositary a written opinion from U.S. counsel for the Company, which counsel shall be reasonably satisfactory to the Depositary, stating that the Shares to be deposited could be offered and sold
publicly by the holder in the United States without further registration of those Shares under the Securities Act. 
  

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 SECTION 5.8 Indemnification. 
 The Company agrees to indemnify the Depositary, its directors, employees, agents and affiliates and any Custodian against, and hold each of them harmless
from, any liability or expense (including, but not limited to, the reasonable fees and expenses of counsel) which may arise out of (a) any registration with the Commission of Receipts, American Depositary Shares or Deposited Securities or the
offer or sale thereof in the United States or (b) acts performed or omitted, pursuant to the provisions of this Deposit Agreement and of the Receipts, as the same may be amended, modified or supplemented from time to time, (i) by either
the Depositary or a Custodian or their respective directors, employees, agents and affiliates, except for any liability or expense arising out of the negligence or bad faith of either of them, or (ii) by the Company or any of its directors,
employees, agents and affiliates. 
 The Depositary agrees to indemnify the Company, its directors, employees, agents and affiliates and hold
them harmless from any liability or expense (including, but not limited to, the reasonable fees and expense of counsel), which may arise out of acts performed or omitted by the Depositary or its Custodian or their respective directors, employees,
agents and affiliates due to their negligence or bad faith. 
 If an action, proceeding (including, but not limited to, any governmental
investigation), claim or dispute (collectively, a “Proceeding”) in respect of which indemnity may be sought by either party is brought or asserted against the other party, the party seeking indemnification (the “Indemnitee”)
shall promptly (and in no event more than ten (10) days after receipt of notice of such Proceeding) notify the party obligated to provide such indemnification (the “Indemnitor”) of such Proceeding. The failure of the Indemnitee to so
notify the Indemnitor shall not impair the Indemnitee’s ability to seek indemnification from the Indemnitor (but only for costs, expenses and liabilities incurred after such notice) unless such failure adversely affects the Indemnitor’s
ability to adequately oppose or defend such Proceeding. Upon receipt of such notice from the Indemnitee, the Indemnitor shall be entitled to participate in such Proceeding and, to the extent that it shall so desire and provided no conflict of
interest exists as specified in subparagraph (b) below or there are no other defenses available to Indemnitee as specified in subparagraph (d) below, to assume the defense thereof with counsel reasonably satisfactory to the Indemnitee (in
which case all attorney’s fees and expenses shall be borne by the Indemnitor and the Indemnitor shall in good faith defend the Indemnitee). The Indemnitee shall have the right to employ separate counsel in any such Proceeding and to participate
in the defense thereof, but the fees and expenses of such counsel shall be borne by the Indemnitee unless (a) the Indemnitor agrees in writing to pay such fees and expenses, (b) the Indemnitee shall have reasonably and in good faith
concluded that there is a conflict of interest between the Indemnitor and the Indemnitee in the conduct of the defense of such action, (c) the Indemnitor fails, within ten (10) days prior to the date the first response or appearance is
required to be made in such Proceeding, to assume the defense of such Proceeding with counsel reasonably satisfactory to the Indemnitee or (d)
  

 - 26 - 

 there are legal defenses available to Indemnitee that are different from or are in addition to those available to the
Indemnitor. No compromise or settlement of such Proceeding may be effected by either party without the other party’s consent unless (i) there is no finding or admission of any violation of law and no effect on any other claims that may be
made against such other party and (ii) the sole relief provided is monetary damages that are paid in full by the party seeking the settlement. Neither party shall have any liability with respect to any compromise or settlement effected without
its consent, which shall not be unreasonably withheld. The Indemnitor shall have no obligation to indemnify and hold harmless the Indemnitee from any loss, expense or liability incurred by the Indemnitee as a result of a default judgment entered
against the Indemnitee unless such judgment was entered after the Indemnitor agreed, in writing, to assume the defense of such Proceeding. 
 SECTION 5.9 Charges of Depositary. 
 The Company agrees to pay the fees, reasonable expenses and out-of-pocket charges of
the Depositary and those of any Registrar only in accordance with agreements in writing entered into between the Depositary and the Company from time to time. The Depositary shall present its statement for such charges and expenses to the Company
once every three months. The charges and expenses of the Custodian are for the sole account of the Depositary. 
 The following charges shall
be incurred by any party depositing or withdrawing Shares or by any party surrendering American Depositary Shares or to whom American Depositary Shares are issued (including, without limitation, issuance pursuant to a stock dividend or stock split
declared by the Company or an exchange of stock regarding the American Depositary Shares or Deposited Securities or a delivery of American Depositary Shares pursuant to Section 4.3), or by Owners, as applicable: (1) taxes, stamp duty and
other governmental charges, (2) such registration fees as may from time to time be in effect for the registration of transfers of Shares generally on the Share register of the Company or Foreign Registrar and applicable to transfers of Shares
to or from the name of the Depositary or its nominee or the Custodian or its nominee on the making of deposits or withdrawals hereunder, (3) such cable, telex and facsimile transmission expenses as are expressly provided in this Deposit
Agreement, (4) such expenses as are incurred by the Depositary in the conversion of foreign currency pursuant to Section 4.5, (5) a fee of $5.00 or less per 100 American Depositary Shares (or portion thereof) for the delivery of
American Depositary Shares pursuant to Section 2.3, 4.3 or 4.4 and the surrender of American Depositary Shares pursuant to Section 2.5 or 6.2, (6) a fee of $.02 or less per American Depositary Share (or portion thereof) for any cash
distribution made pursuant to the Deposit Agreement, including, but not limited to Sections 4.1 through 4.4 hereof, (7) a fee for the distribution of securities pursuant to Section 4.2, such fee being in an amount equal to the fee for the
execution and delivery of American Depositary Shares referred to above which would have been charged as a result of the deposit of such securities (for purposes of this clause 7 treating all such securities 
  

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 as if they were Shares) but which securities are instead distributed by the Depositary to Owners, (8) a fee of $.02
or less per American Depositary Share (or portion thereof) for depositary services, which will accrue on the last day of each calendar year and which will be payable as provided in clause (9) below; and (9) any other charges payable by the
Depositary, any of the Depositary’s agents, including the Custodian, or the agents of the Depositary’s agents in connection with the servicing of Shares or other Deposited Securities (which charge shall be assessed against Owners as of the
date or dates set by the Depositary in accordance with Section 4.6 and shall be payable at the sole discretion of the Depositary by billing such Owners for such charge or by deducting such charge from one or more cash dividends or other cash
distributions). 
 The Depositary, subject to Section 2.9 hereof, may own and deal in any class of securities of the Company and its
affiliates and in American Depositary Shares. 
 SECTION 5.10 Retention of Depositary Documents. 
 The Depositary is authorized to destroy those documents, records, bills and other data compiled during the term of this Deposit Agreement at the times
permitted by the laws or regulations governing the Depositary unless the Company reasonably requests that such papers be retained for a longer period or be delivered to the Company or to a successor depositary. 
 SECTION 5.11 Exclusivity. 
 Subject
to Sections 5.4 and 6.2, the Company agrees not to appoint any other depositary for issuance of American or global depositary shares or receipts so long as The Bank of New York is acting as Depositary hereunder. 
 SECTION 5.12 List of Restricted Securities Owners. 
 From time to time, the Company shall provide to the Depositary a list setting forth, to the actual knowledge of the Company, those persons or entities who beneficially own Restricted Securities. The Company agrees to
advise in writing each of the persons or entities so listed that such Restricted Securities are ineligible for deposit hereunder. The Depositary may rely on such a list or update but shall not be liable for any action or omission made in reliance
thereon. 
 ARTICLE 6.    AMENDMENT AND TERMINATION. 
 SECTION 6.1 Amendment. 
 The form of the Receipts and any provisions of this Deposit Agreement may at
any time and from time to time be amended by agreement between the Company and the Depositary without the consent of Owners and Beneficial Owners in any respect which they may deem necessary or desirable. Any amendment which shall impose or increase
any fees or charges (other than taxes and other governmental charges, registration fees, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or which shall otherwise prejudice any substantial existing right of
Owners, 
  

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 shall, however, not become effective as to outstanding American Depositary Shares until the expiration of thirty days
after notice of such amendment shall have been given to the Owners of outstanding American Depositary Shares. Every Owner at the time any amendment so becomes effective shall be deemed, by continuing to hold such American Depositary Shares or any
interest therein, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the Owner to surrender American Depositary Shares and receive therefor the
Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. 
 SECTION 6.2
Termination. 
 The Depositary shall at any time at the direction of the Company terminate this Deposit Agreement by mailing notice of
such termination to the Owners of all American Depositary Shares then outstanding at least 30 days prior to the date fixed in such notice for such termination. The Depositary may likewise terminate this Deposit Agreement by mailing notice of such
termination to the Company and the Owners of all Receipts then outstanding if at any time 60 days shall have expired after the Depositary shall have delivered to the Company a written notice of its election to resign and a successor depositary shall
not have been appointed and accepted its appointment as provided in Section 5.4. On and after the date of termination, the Owner of American Depositary Shares will, upon (a) surrender of such American Depositary Shares, (b) payment of
the fee of the Depositary for the surrender of American Depositary Shares referred to in Section 2.5, and (c) payment of any applicable taxes or governmental charges, be entitled to delivery, to him or upon his order, of the amount of
Deposited Securities represented by those American Depositary Shares. If any American Depositary Shares shall remain outstanding after the date of termination, the Depositary thereafter shall discontinue the registration of transfers of American
Depositary Shares, shall suspend the distribution of dividends to the Owners thereof, and shall not give any further notices or perform any further acts under this Deposit Agreement, except that the Depositary shall continue to collect dividends and
other distributions pertaining to Deposited Securities, shall sell rights and other property as provided in this Deposit Agreement, and shall continue to deliver Deposited Securities, together with any dividends or other distributions received with
respect thereto and the net proceeds of the sale of any rights or other property, upon surrender of American Depositary Shares (after deducting, in each case, the fee of the Depositary for the surrender of American Depositary Shares, any expenses
for the account of the Owner of such American Depositary Shares in accordance with the terms and conditions of this Deposit Agreement, and any applicable taxes or governmental charges). At any time after the expiration of six months from the date of
termination, the Depositary may sell the Deposited Securities then held hereunder and may thereafter hold uninvested the net proceeds of any such sale, together with any other cash then held by it hereunder, unsegregated and without liability for
interest, for the pro rata benefit of the Owners of American Depositary Shares that have not theretofore been surrendered, such Owners 
  

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 thereupon becoming general creditors of the Depositary with respect to such net proceeds. After making such sale, the
Depositary shall be discharged from all obligations under this Deposit Agreement, except for its obligations to the Company under Section 5.8 and to account for such net proceeds and other cash after deducting, in each case, the fee of the
Depositary for the surrender of American Depositary Shares, any expenses for the account of the Owner of such American Depositary Shares in accordance with the terms and conditions of this Deposit Agreement, and any applicable taxes or governmental
charges. Upon the termination of this Deposit Agreement, the Company shall be discharged from all obligations under this Deposit Agreement except for its obligations to the Depositary under Sections 5.8 and 5.9 hereof. 
 ARTICLE 7.    MISCELLANEOUS. 
 SECTION 7.1 Counterparts. 
 This Deposit Agreement may be executed in any number of counterparts, each of which shall be
deemed an original and all of such counterparts shall constitute one and the same instrument. Copies of this Deposit Agreement shall be filed with the Depositary and the Custodians and shall be open to inspection by any Owner or Beneficial Owner of
a Receipt during business hours. 
 SECTION 7.2 No Third Party Beneficiaries. 
 This Deposit Agreement is for the exclusive benefit of the parties hereto (which shall include the Owners and Beneficial Owners) and shall not be deemed
to give any legal or equitable right, remedy or claim whatsoever to any other person, except as otherwise specifically provided in this Agreement with respect to co-transfer agents and the Custodian. 
 SECTION 7.3 Severability. 
 In case
any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or
therein shall in no way be affected, prejudiced or disturbed thereby. 
 SECTION 7.4 Owners and Beneficial Owners as Parties; Binding
Effect. 
 The Owners and Beneficial Owners from time to time shall be parties to this Deposit Agreement and shall be bound by all of the
terms and conditions hereof and of the Receipts by acceptance thereof. 
 SECTION 7.5 Notices. 
 Any and all notices to be given to the Company shall be deemed to have been duly given if personally delivered or sent by mail or cable, telex or
facsimile transmission confirmed by letter, addressed to Trina Solar Limited, No. 2 Xin Yuan Yi Road, Electronics Park, New District, Changzhou, Jiangsu 213031, People’s Republic of China: Attention: Sean Shao, Chief Financial Officer, or
any other place to which the Company may have transferred its principal office with notice to the Depositary. 
  

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 Any and all notices to be given to the Depositary shall be deemed to have been duly given if in English
and personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to The Bank of New York, 101 Barclay Street, New York, New York 10286, Attention: American Depositary Receipt Administration, or any
other place to which the Depositary may have transferred its Corporate Trust Office with notice to the Company. 
 Any and all notices to be
given to any Owner shall be deemed to have been duly given if personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to such Owner at the address of such Owner as it appears on the transfer
books for American Depositary Shares of the Depositary, or, if such Owner shall have filed with the Depositary a written request that notices intended for such Owner be mailed to some other address, at the address designated in such request.

 Delivery of a notice sent by mail or cable, telex or facsimile transmission shall be deemed to be effected at the time when a duly
addressed letter containing the same (or a confirmation thereof in the case of a cable, telex or facsimile transmission) is deposited, postage prepaid, in a post-office letter box. The Depositary or the Company may, however, act upon any cable,
telex or facsimile transmission received by it, notwithstanding that such cable, telex or facsimile transmission shall not subsequently be confirmed by letter as aforesaid. 
 SECTION 7.6 Governing Law. 
 This
Deposit Agreement and the Receipts shall be interpreted and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by the laws of the State of New York without regard to conflicts of laws, rules or principles
thereof. 
 SECTION 7.7 Compliance with U.S. Securities Laws. 
 Notwithstanding anything in this Deposit Agreement to the contrary, the Company and the Depositary each agrees that it will not exercise any rights it
has under this Deposit Agreement to permit the withdrawal or delivery of Deposited Securities in a manner which would violate the U.S. securities laws, including, but not limited to, Section I.A.(1) of the General Instructions to the Form F-6
Registration Statement, as amended from time to time, under the Securities Act. 
  

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 SECTION 7.8 Submission to Jurisdiction; Appointment of Agent for Service of Process. 

The Company hereby (i) irrevocably designates and appoints CT Corporation System, 111 Eighth Avenue, New York, New York, as the Company’s
authorized agent upon which process may be served in any suit or proceeding arising out of or relating to the Shares or Deposited Securities, the American Depositary Shares, the Receipts or this Agreement, (ii) consents and submits to the
jurisdiction of any state or federal court in the State of New York in which any such suit or proceeding may be instituted, and (iii) agrees that service of process upon said authorized agent shall be deemed in every respect effective service
of process upon the Company in any such suit or proceeding. The Company agrees to deliver, upon the execution and delivery of this Deposit Agreement, a written acceptance by such agent of its appointment as such agent. The Company further agrees to
take any and all action, including the filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment in full force and effect for so long as any American Depositary Shares or Receipts remain
outstanding or this Agreement remains in force. In the event the Company fails to continue such designation and appointment in full force and effect, the Company hereby waives personal service of process upon it and consents that any such service of
process may be made by certified or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder, and service so made shall be deemed completed five (5) days after the same shall have
been so mailed. 
 SECTION 7.9 Arbitration. 
 In the event the Depositary is advised that a judgment of a court in the United States may not be recognized, the following provisions shall apply: 
 (i) Any controversy, claim or cause of action brought by any party or parties hereto against any other party or parties hereto arising out of or relating
to the Deposit Agreement shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrators may be entered in any court having
jurisdiction thereof. 
 (ii) The place of the arbitration shall be the City of New York, State of New York, United States of America, and
the language of the arbitration shall be English. 
 (iii) The number of arbitrators shall be three, each of whom shall be disinterested in
the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney experienced in international securities transactions. Each party shall appoint one arbitrator and the two arbitrators shall select a third
arbitrator who shall serve as chairperson of the tribunal. If a dispute, controversy or cause of action shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which
shall appoint one arbitrator as if there were 
  

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 only two parties to such dispute, controversy or cause of action. If either or both parties fail to select an arbitrator,
or if such alignment (in the event there is more than two parties) shall not have occurred, within sixty (60) calendar days after the initiating party serves the arbitration demand or the two arbitrators fail to select a third arbitrator within
sixty (60) calendar days of the selection of the second arbitrator, the American Arbitration Association shall appoint the arbitrator or arbitrators in accordance with its rules. The parties and the American Arbitration Association may appoint
the arbitrators from among the nationals of any country, whether or not a party is a national of that country. 
 (iv) The arbitrators shall
have no authority to award damages not measured by the prevailing party’s actual damages and shall have no authority to award any consequential, special or punitive damages, and may not, in any event, make any ruling, finding or award that does
not conform to the terms and conditions of this Deposit Agreement. 
 (v) In the event any third-party action or proceeding is instituted
against the Depositary relating to or arising from any act or failure to act by the Company, the Company hereby submits to the personal jurisdiction of the court or administrative agency in which such action or proceeding is brought. 
  

 - 33 - 

 IN WITNESS WHEREOF, TRINA SOLAR LIMITED and THE BANK OF NEW YORK have duly executed this agreement as of
the day and year first set forth above and all Owners and Beneficial Owners shall become parties hereto upon acceptance by them of Receipts issued in accordance with the terms hereof. 
  

			
	 TRINA SOLAR LIMITED

		
	 By:
	 	 /s/ Jifan Gao

	 Name:
	 	Jifan Gao
	 Title:
	 	 Chairman and Chief
 Executive
Officer

	
	 THE BANK OF NEW YORK,
 as Depositary

		
	 By:
	 	 /s/ U.M. Erlandsen

	 Name:
	 	U.M. Erlandsen
	 Title:
	 	Managing Director

  

 - 34 - 

 Exhibit A to Deposit Agreement 
 No.  
  

			
	  	 	 
	  
 AMERICAN DEPOSITARY SHARES

	 (Each American Depositary Share
 represents One Hundred (100) deposited Shares)

 THE BANK OF NEW YORK 
 AMERICAN DEPOSITARY RECEIPT 
 FOR ORDINARY SHARES, 
 PAR VALUE $0.00001 PER SHARE, OF 
 TRINA SOLAR LIMITED 
 (INCORPORATED UNDER THE LAWS OF THE CAYMAN ISLANDS) 
 The Bank of New York as depositary (hereinafter called the Depositary), hereby certifies that
            , or registered assigns IS THE OWNER OF  
 AMERICAN DEPOSITARY SHARES 
 representing deposited Ordinary Shares (herein called Shares) of Trina Solar Limited, incorporated under the
laws of the Cayman Islands (herein called the Company). At the date hereof, each American Depositary Share represents One Hundred (100) Shares which are either deposited or subject to deposit under the Deposit Agreement referred to below at the
principal Hong Kong office of The Hongkong and Shanghai Banking Corporation Limited (herein called the Custodian). The Depositary’s Corporate Trust Office is located at a different address than its principal executive office. Its Corporate
Trust Office is located at 101 Barclay Street, New York, N.Y. 10286, and its principal executive office is located at One Wall Street, New York, N.Y. 10286. 
 THE DEPOSITARY’S CORPORATE TRUST OFFICE ADDRESS IS 
 101 BARCLAY STREET, NEW YORK, N.Y. 10286

  

 A-1 

	1.	THE DEPOSIT AGREEMENT. 

 This American
Depositary Receipt is one of an issue (herein called Receipts), all issued and to be issued upon the terms and conditions set forth in the deposit agreement, dated as of December 18, 2006 (the “Deposit Agreement”), by and among the
Company, the Depositary, and all Owners and Beneficial Owners from time to time of American Depositary Shares issued thereunder, each of whom by accepting American Depositary Shares agrees to become a party thereto and become bound by all the terms
and conditions thereof. The Deposit Agreement sets forth the rights of Owners and Beneficial Owners and the rights and duties of the Depositary in respect of the Shares deposited thereunder and any and all other securities, property and cash from
time to time received in respect of such Shares and held thereunder (such Shares, securities, property, and cash are herein called Deposited Securities). Copies of the Deposit Agreement are on file at the Depositary’s Corporate Trust Office in
New York City and at the office of the Custodian. 
 The statements made on the face and reverse of this Receipt are summaries of certain
provisions of the Deposit Agreement and are qualified by and subject to the detailed provisions of the Deposit Agreement, to which reference is hereby made. Capitalized terms not defined herein shall have the meanings set forth in the Deposit
Agreement. 
  

	2.	SURRENDER OF RECEIPTS AND WITHDRAWAL OF SHARES. 

 Upon surrender at the Corporate Trust Office of the Depositary of American Depositary Shares, and upon payment of the fee of the Depositary provided in this Receipt, and subject to the terms and conditions of the Deposit Agreement, the
Owner of those American Depositary Shares is entitled to delivery, to such Owner or at his instruction, of the amount of Deposited Securities at the time represented by those American Depositary Shares. Delivery of such Deposited Securities may be
made by the delivery of (a) certificates or account transfer for Shares in the name of the Owner hereof or as ordered by him or by certificates properly endorsed or accompanied by proper instruments or instructions of transfer to such Owner or
as ordered by him and (b) any other securities, property and cash to which such Owner is then entitled in respect of this Receipt to such Owner or as ordered by him. Such delivery will be made at the option of the Owner hereof, either at the
office of the Custodian or at the Corporate Trust Office of the Depositary, provided that the forwarding of certificates for Shares or other Deposited Securities for such delivery at the Corporate Trust Office of the Depositary shall be at the risk
and expense of the Owner hereof. Notwithstanding any other provision of the Deposit Agreement or this Receipt, the surrender of outstanding American Depositary Shares and withdrawal of Deposited Securities may be suspended only for
(i) temporary delays caused by closing the transfer books of the Depositary or the Company or the deposit of Shares in connection with voting at a shareholders’ meeting, or the payment of dividends, (ii) the payment of fees, taxes and
similar charges, and (iii) compliance with any U.S. or foreign laws or governmental regulations relating to the American Depositary Shares or to the withdrawal of the Deposited Securities. 
  

 A-2 

	3.	TRANSFERS, SPLIT-UPS, AND COMBINATIONS OF RECEIPTS. 

 The transfer of this Receipt is registrable on the books of the Depositary by the Owner in person or by a duly authorized attorney, upon surrender of those American Depositary Shares properly endorsed for transfer or accompanied by proper
instruments of transfer, in the case of a Receipt, or pursuant to a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as provided in Section 2.10 of the Deposit Agreement), in the case of
uncertificated American Depositary Shares, and funds sufficient to pay any applicable transfer taxes and the expenses of the Depositary and upon compliance with such regulations, if any, as the Depositary may establish for such purpose. This Receipt
may be split into other such Receipts, or may be combined with other such Receipts into one Receipt, evidencing the same aggregate number of American Depositary Shares as the Receipt or Receipts surrendered. 
 The Depositary, upon surrender of a Receipt for the purpose of exchanging for uncertificated American Depositary Shares, shall cancel that Receipt and
send the Owner a statement confirming that the Owner is the Owner of uncertificated American Depositary Shares. The Depositary, upon receipt of a proper instruction (including, for the avoidance of doubt, instructions through DRS and Profile as
provided in Section 2.10 of the Deposit Agreement) from the Owner of uncertificated American Depositary Shares for the purpose of exchanging for certificated American Depositary Shares, shall execute and deliver to the Owner a Receipt
evidencing those American Depositary Shares. 
 As a condition precedent to delivery, registration of transfer, or surrender of any American
Depositary Shares or split-up or combination of any Receipt or withdrawal of any Deposited Securities, the Depositary, the Custodian, or Registrar may require payment from the depositor of Shares or the presenter of the Receipt or instruction for
registration of transfer or surrender of American Depositary Shares not evidenced by a Receipt of a sum sufficient to reimburse it for any tax, stamp duty or other governmental charge and any stock transfer or registration fee with respect thereto
(including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees as provided in the Deposit Agreement, may require the production of proof satisfactory to it as to the identity and
genuineness of any signature and may also require compliance with any regulations the Depositary may establish consistent with the provisions of the Deposit Agreement. 
 The delivery of American Depositary Shares against deposits of Shares generally or against deposits of particular Shares may be suspended, or the transfer of American Depositary Shares in particular instances may be
refused, or the registration of transfer of outstanding American Depositary Shares generally may be suspended, during any period when the transfer books of the Depositary are closed as provided in Section 5.1 of the 
  

 A-3 

 Deposit Agreement, or if any such action is deemed necessary or advisable by the Depositary or the Company at any time or
from time to time because of any requirement of law or of any government or governmental body or commission, or under any provision of the Deposit Agreement, or for any other reason. Without limitation of the foregoing, the Depositary shall not
knowingly accept for deposit under the Deposit Agreement any Shares required to be registered under the provisions of the Securities Act for public sale in the United States, unless a registration statement is in effect as to such Shares.

  

	4.	LIABILITY OF OWNER FOR TAXES. 

 If any tax or
other governmental charge shall become payable with respect to any American Depositary Shares or any Deposited Securities represented by any American Depositary Shares, such tax or other governmental charge shall be payable by the Owner to the
Depositary. The Depositary may refuse to register any transfer of those American Depositary Shares or any withdrawal of Deposited Securities represented by those American Depositary Shares until such payment is made, and may withhold any dividends
or other distributions, or may sell for the account of the Owner any part or all of the Deposited Securities represented by those American Depositary Shares, and may apply such dividends or other distributions or the proceeds of any such sale in
payment of such tax or other governmental charge and the Owner shall remain liable for any deficiency. 
  

	5.	WARRANTIES OF DEPOSITORS. 

 Every person
depositing Shares under the Deposit Agreement shall be deemed thereby to represent and warrant that such Shares and each certificate therefor, if applicable, are validly issued, fully paid, nonassessable and were not issued in violation of any
pre-emptive rights of the holders of outstanding Shares and that the person making such deposit is duly authorized so to do. Every such person shall also be deemed to represent that the Shares are eligible for deposit in accordance with the Deposit
Agreement and the General Instructions to Form F-6 under the Securities Act, and American Depositary Shares representing the Shares would not be Restricted Securities. All representations and warranties deemed made under Section 3.3 of the
Deposit Agreement shall survive the deposit of Shares and delivery or surrender of American Depositary Shares. 
  

	6.	FILING PROOFS, CERTIFICATES, AND OTHER INFORMATION. 

 Any person presenting Shares for deposit or any Owner or Beneficial Owner of a Receipt may be required from time to time to file with the Depositary or the Custodian such proof of citizenship or residence, exchange control approval, or such
information relating to the registration on the books of the Company or the Foreign Registrar, if applicable, to execute such certificates and to make such representations and warranties, as the Depositary may deem necessary or proper. The
Depositary may withhold the delivery or registration of transfer of any American Depositary Shares or the distribution 
  

 A-4 

 of any dividend or sale or distribution of rights or of the proceeds thereof or the delivery of any Deposited Securities
until such proof or other information is filed or such certificates are executed or such representations and warranties made. If requested in writing, the Depositary shall, as promptly as practicable, provide the Company, at the expense of the
Company, with copies of any such proofs, certificates or other information it receives pursuant to this Article, unless prohibited by applicable law. No Share shall be accepted for deposit unless accompanied by evidence satisfactory to the
Depositary that any necessary approval has been granted by any governmental body the Cayman Islands or in th People’s Republic of China which is then performing the function of the regulation of currency exchange. 
  

	7.	CHARGES OF DEPOSITARY. 

 The Company agrees
to pay the fees, reasonable expenses and out-of-pocket charges of the Depositary and those of any Registrar only in accordance with agreements in writing entered into between the Depositary and the Company from time to time. The Depositary shall
present its statement for such charges and expenses to the Company once every three months. The charges and expenses of the Custodian are for the sole account of the Depositary. 
 The following charges shall be incurred by any party depositing or withdrawing Shares or by any party surrendering American Depositary Shares or to whom
American Depositary Shares are issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by the Company or an exchange of stock regarding the American Depositary Shares or Deposited Securities or a delivery
of American Depositary Shares pursuant to Section 4.3 of the Deposit Agreement), or by Owners, as applicable: (1) taxes, stamp duty and other governmental charges, (2) such registration fees as may from time to time be in effect for
the registration of transfers of Shares generally on the Share register of the Company or Foreign Registrar and applicable to transfers of Shares to or from the name of the Depositary or its nominee or the Custodian or its nominee on the making of
deposits or withdrawals under the Deposit Agreement, (3) such cable, telex and facsimile transmission expenses as are expressly provided in the Deposit Agreement, (4) such expenses as are incurred by the Depositary in the conversion of
foreign currency pursuant to Section 4.5 of the Deposit Agreement, (5) a fee of $5.00 or less per 100 American Depositary Shares (or portion thereof) for the delivery of American Depositary Shares pursuant to Section 2.3, 4.3 or 4.4
of the Deposit Agreement and the surrender of American Depositary Shares pursuant to Section 2.5 or 6.2 of the Deposit Agreement, (6) a fee of $.02 or less per American Depositary Share (or portion thereof) for any cash distribution made
pursuant to the Deposit Agreement, including, but not limited to Sections 4.1 through 4.4 of the Deposit Agreement, (7) a fee for the distribution of securities pursuant to Section 4.2 of the Deposit Agreement, such fee being in an amount
equal to the fee for the execution and delivery of American Depositary Shares referred to above which would have been charged as a result of the deposit of such securities (for purposes of this clause 7 treating all such securities as if

  

 A-5 

 they were Shares) but which securities are instead distributed by the Depositary to Owners, (8) a fee of $.02 or
less per American Depositary Share (or portion thereof) for depositary services, which will accrue on the last day of each calendar year and which will be payable as provided in clause (9) below; and (9) any other charges payable by the
Depositary, any of the Depositary’s agents, including the Custodian, or the agents of the Depositary’s agents in connection with the servicing of Shares or other Deposited Securities (which charge shall be assessed against Owners as of the
date or dates set by the Depositary in accordance with Section 4.6 of the Deposit Agreement and shall be payable at the sole discretion of the Depositary by billing such Owners for such charge or by deducting such charge from one or more cash
dividends or other cash distributions). 
 The Depositary, subject to Section 2.9 of the Deposit Agreement, may own and deal in any
class of securities of the Company and its affiliates and in American Depositary Shares. 
  

	8.	PRE-RELEASE OF RECEIPTS. 

 Unless requested
in writing by the Company to cease doing so, the Depositary may, notwithstanding Section 2.3 of the Deposit Agreement, deliver American Depositary Shares prior to the receipt of Shares pursuant to Section 2.2 of the Deposit Agreement
(“Pre-Release”). The Depositary may, pursuant to Section 2.5 of the Deposit Agreement, deliver Shares upon the surrender of American Depositary Shares that have been Pre-Released, whether or not such cancellation is prior to the
termination of such Pre-Release or the Depositary knows that such American Depositary Shares have been Pre-Released. The Depositary may receive American Depositary Shares in lieu of Shares in satisfaction of a Pre-Release. Each Pre-Release will be
(a) preceded or accompanied by a written representation and agreement from the person to whom American Depositary Shares are to be delivered (the “Pre-Releasee”) that the Pre-Releasee, or its customer, (i) owns the Shares or
American Depositary Shares to be remitted, as the case may be, (ii) assigns all beneficial rights, title and interest in such Shares or American Depositary Shares, as the case may be, to the Depositary in its capacity as such and for the
benefit of the Owners, and (iii) will not take any action with respect to such Shares or American Depositary Shares, as the case may be, that is inconsistent with the transfer of beneficial ownership (including, without the consent of the
Depositary, disposing of such Shares or American Depositary Shares, as the case may be), other than in satisfaction of such Pre-Release, (b) at all times fully collateralized with cash, U.S. government securities or such other collateral as the
Depositary determines, in good faith, will provide substantially similar liquidity and security, (c) terminable by the Depositary on not more than five (5) business days notice, and (d) subject to such further indemnities and credit
regulations as the Depositary deems appropriate. The number of Shares not deposited but represented by American Depositary Shares outstanding at any time as a result of Pre-Releases will not normally exceed thirty percent (30%) of the Shares
deposited hereunder; provided, however, that the Depositary reserves the right to disregard such limit from time to time as it deems reasonably appropriate, and may, with the prior 
  

 A-6 

 written consent of the Company, change such limit for purposes of general application. The Depositary will also set
Dollar limits with respect to Pre-Release transactions to be entered into hereunder with any particular Pre-Releasee on a case-by-case basis as the Depositary deems appropriate. For purposes of enabling the Depositary to fulfill its obligations to
the Owners under the Deposit Agreement, the collateral referred to in clause (b) above shall be held by the Depositary as security for the performance of the Pre-Releasee’s obligations to the Depositary in connection with a Pre-Release
transaction, including the Pre-Releasee’s obligation to deliver Shares or American Depositary Shares upon termination of a Pre-Release transaction (and shall not, for the avoidance of doubt, constitute Deposited Securities hereunder).

 The Depositary may retain for its own account any compensation received by it in connection with the foregoing. 
  

	9.	TITLE TO RECEIPTS. 

 It is a condition of
this Receipt and every successive Owner and Beneficial Owner of this Receipt by accepting or holding the same consents and agrees, that when properly endorsed or accompanied by proper instruments of transfer, shall be transferable as certificated
registered securities under the laws of New York. American Depositary Shares not evidenced by Receipts shall be transferable as uncertificated registered securities under the laws of New York. The Depositary, notwithstanding any notice to the
contrary, may treat Owner of American Depositary Shares whether or not such American Depositary Shares are evidenced by a Receipt as the absolute owner thereof for the purpose of determining the person entitled to distribution of dividends or other
distributions or to any notice provided for in the Deposit Agreement and for all other purposes. 
  

	10.	VALIDITY OF RECEIPT. 

 This Receipt shall not
be entitled to any benefits under the Deposit Agreement or be valid or obligatory for any purpose, unless this Receipt shall have been executed by the Depositary by the manual signature of a duly authorized signatory of the Depositary;
provided, however, that such signature may be a facsimile if a Registrar for the Receipts shall have been appointed, and such Receipts are countersigned by the manual or facsimile signature of a duly authorized officer of the
Registrar. 
  

	11.	REPORTS; INSPECTION OF TRANSFER BOOKS. 

 The
Company is subject to the periodic reporting requirements of the Securities Exchange Act of 1934 and, accordingly, files certain reports with the Securities and Exchange Commission (hereinafter called the “Commission”). 
 Such reports and communications will be available for inspection and copying at the public reference facilities maintained by the Commission located at
100 F Street, N.E., Washington, D.C. 20549. 
  

 A-7 

 The Depositary will make available for inspection by Owners at its Corporate Trust Office, as promptly as
practicable after receipt, any reports, notices and other communications, including any proxy soliciting material, received from the Company which are both (a) received by the Depositary as the holder of the Deposited Securities and
(b) made generally available to the holders of such Deposited Securities by the Company. The Depositary shall also send to the Owners copies of such reports when furnished by the Company pursuant to the Deposit Agreement. Any such reports and
communications, including any such proxy soliciting material, furnished to the Depositary by the Company shall be furnished in English. 
 The Depositary shall keep books at its Corporate Trust Office for the registration of American Depositary Shares and transfers of American Depositary Shares which at all reasonable times shall be open for inspection by the Owners and the
Company, provided that such inspection shall not be for the purpose of communicating with Owners in the interest of a business or object other than the business of the Company or a matter related to the Deposit Agreement or the American Depositary
Shares. 
  

	12.	DIVIDENDS AND DISTRIBUTIONS. 

 Whenever the
Depositary shall receive any cash dividend or other cash distribution on any Deposited Securities, the Depositary shall, if at the time of receipt thereof any amounts received in a foreign currency can in the judgment of the Depositary be converted
on a reasonable basis into United States dollars transferable to the United States, and subject to the Deposit Agreement, convert such dividend or distribution into Dollars and shall distribute the amount thus received (net of the fees and expenses
of the Depositary as provided in the Deposit Agreement, if applicable) to the Owners entitled thereto, provided, however, that in the event that the Company or the Depositary shall be required to withhold and does withhold from such
cash dividend or such other cash distribution in respect of any Deposited Securities an amount on account of taxes or other governmental charges, the amount distributed to the Owners of the American Depositary Shares representing such Deposited
Securities shall be reduced accordingly. 
 Subject to the provisions of Sections 4.11 and 5.9 of the Deposit Agreement, whenever the
Depositary shall receive any distribution other than a distribution described in Sections 4.1, 4.3 or 4.4 of the Deposit Agreement, the Depositary shall, subject to all applicable laws, cause the securities or property received by it to be
distributed to the Owners of Receipts entitled thereto, after deduction or upon payment of any fees and expenses of the Depositary or any taxes or other governmental charges, in any manner that the Depositary may deem equitable and practicable for
accomplishing such distribution; provided, however, that if in the opinion of the Depositary such distribution cannot be made proportionately among the Owners of Receipts entitled thereto, or if for any other reason the Depositary
deems such distribution not to be feasible, the Depositary may adopt such method as it may deem equitable and practicable for the purpose of effecting such distribution, including, but not limited to, the public or private sale of the 
  

 A-8 

 securities or property thus received, or any part thereof, and the net proceeds of any such sale (net of the fees of the
Depositary as provided in Section 5.9 of the Deposit Agreement) shall be distributed by the Depositary to the Owners of Receipts entitled thereto as in the case of a distribution received in cash. The Depositary may refuse to effect any
distribution of securities under Section 4.2 of the Deposit Agreement unless it has received an opinion of United States counsel for the Company that is satisfactory to the Depositary that the distribution does not require registration under
the Securities Act. 
 If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the
Depositary may deliver to the Owners entitled thereto, an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to the terms and conditions of the Deposit Agreement
with respect to the deposit of Shares and the issuance of American Depositary Shares, including the withholding of any tax or other governmental charge as provided in Section 4.11 of the Deposit Agreement and the payment of the fees and
expenses of the Depositary as provided in Section 5.9 of the Deposit Agreement. In lieu of delivering fractional American Depositary Shares in any such case, the Depositary shall use reasonable efforts to sell the amount of Shares represented
by the aggregate of such fractions and distribute any net proceeds to the Owners entitled to them, all in the manner and subject to the conditions set forth in the Deposit Agreement. If additional American Depositary Shares are not so delivered,
each American Depositary Share shall thenceforth also represent the additional Shares distributed upon the Deposited Securities represented thereby. 
 The Company or its agent will remit to the appropriate governmental agencies in the Cayman Islands and the People’s Republic of China all amounts withheld and owing to such agencies. The Depositary will forward
to the Company or its agent such information from its records as the Company may reasonably request to enable the Company or its agent to file necessary reports with governmental agencies, and the Depositary or the Company or its agent may file any
such reports necessary to obtain benefits under the applicable tax treaties for the Owners. In the event that the Depositary determines that any distribution in property (including Shares and rights to subscribe therefor) is subject to any tax or
other governmental charge which the Depositary is obligated to withhold, the Depositary may by public or private sale dispose of all or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in such manner
as the Depositary deems necessary and practicable to pay any such taxes or charges and the Depositary shall distribute the net proceeds of any such sale after deduction of such taxes or charges to the Owners entitled thereto. 
  

	13.	CONVERSION OF FOREIGN CURRENCY. 

 Whenever
the Depositary or the Custodian shall receive foreign currency, by way of dividends or other distributions or the net proceeds from the sale of securities, property or rights, and if at the time of the receipt thereof the foreign currency so
received can in 
  

 A-9 

 the judgment of the Depositary be converted on a reasonable basis into Dollars and the resulting Dollars transferred to
the United States, the Depositary shall convert or cause to be converted, by sale or in any other manner that it may determine, such foreign currency into Dollars, and such Dollars shall be distributed to the Owners entitled thereto or, if the
Depositary shall have distributed any warrants or other instruments which entitle the holders thereof to such Dollars, then to the holders of such warrants and/or instruments upon surrender thereof for cancellation. Such distribution may be made
upon an averaged or other practicable basis without regard to any distinctions among Owners on account of exchange restrictions, the date of delivery of any American Depositary Shares or otherwise and shall be net of any expenses of conversion into
Dollars incurred by the Depositary as provided in Section 5.9 of the Deposit Agreement. 
 If such conversion or distribution can be
effected only with the approval or license of any government or agency thereof, the Depositary shall file such application for approval or license, if any, as it may deem desirable. 
 If at any time the Depositary shall determine that in its judgment any foreign currency received by the Depositary or the Custodian is not convertible on
a reasonable basis into Dollars transferable to the United States, or if any approval or license of any government or agency thereof which is required for such conversion is denied or in the opinion of the Depositary is not obtainable without
excessively burdensome or otherwise unreasonable efforts, or if any such approval or license is not obtained within a reasonable period as determined by the Depositary, or if there are foreign exchange controls in place that prohibit such
conversion, the Depositary may distribute the foreign currency (or an appropriate document evidencing the right to receive such foreign currency) received by the Depositary to, or in its discretion may hold such foreign currency uninvested and
without liability for interest thereon for the respective accounts of, the Owners entitled to receive the same. 
 If any such conversion of
foreign currency, in whole or in part, cannot be effected for distribution to some of the Owners entitled thereto, the Depositary may in its discretion make such conversion and distribution in Dollars to the extent permissible to the Owners entitled
thereto and may distribute the balance of the foreign currency received by the Depositary to, or hold such balance uninvested and without liability for interest thereon for the respective accounts of, the Owners entitled thereto. 
  

	14.	RIGHTS. 

 In the event that the Company shall
offer or cause to be offered to the holders of any Deposited Securities any rights to subscribe for additional Shares or any rights of any other nature, the Depositary shall have discretion as to the procedure to be followed in making such rights
available to any Owners to them or in disposing of such rights on behalf of any Owners otherwise entitled to them and making the net proceeds available to such Owners or, if by the terms of such rights offering or for any other reason, the

  

 A-10 

 Depositary may not either make such rights available to any Owners or dispose of such rights and make the net proceeds
available to such Owners, then the Depositary shall allow the rights to lapse. If at the time of the offering of any rights the Depositary determines in its reasonable discretion that it is lawful and feasible to make such rights available to all
Owners or to certain Owners but not to other Owners, the Depositary may distribute, to any Owner to whom it determines the distribution to be lawful and feasible, in proportion to the number of American Depositary Shares held by such Owner, warrants
or other instruments therefor in such form as it deems appropriate. 
 In circumstances in which rights would otherwise not be distributed,
if an Owner requests the distribution of warrants or other instruments in order to exercise the rights allocable to the American Depositary Shares of such Owner under the Deposit Agreement, the Depositary will make such rights available to such
Owner upon written notice from the Company to the Depositary that (a) the Company has elected in its sole discretion to permit such rights to be exercised and (b) such Owner has executed such documents as the Company has determined in its
sole discretion are reasonably required under applicable law. 
 If the Depositary has distributed warrants or other instruments for rights
to all or certain Owners, then upon instruction from such an Owner pursuant to such warrants or other instruments to the Depositary from such Owner to exercise such rights, upon payment by such Owner to the Depositary for the account of such Owner
of an amount equal to the purchase price of the Shares to be received upon the exercise of the rights, and upon payment of the fees and expenses of the Depositary and any other charges as set forth in such warrants or other instruments, the
Depositary shall, on behalf of such Owner, exercise the rights and purchase the Shares, and the Company shall cause the Shares so purchased to be delivered to the Depositary on behalf of such Owner. As agent for such Owner, the Depositary will cause
the Shares so purchased to be deposited pursuant to Section 2.2 of the Deposit Agreement, and shall, pursuant to Section 2.3 of the Deposit Agreement, deliver American Depositary Shares to such Owner. In the case of a distribution pursuant
to the second paragraph of this Article, such deposit shall be made, and Deposited Securities shall be delivered, under depositary arrangements which provide for issuance of Deposited Securities subject to the appropriate restrictions on sale,
deposit, cancellation and transfer under applicable United States laws. 
 If the Depositary determines in its reasonable discretion that it
is not lawful and feasible to make such rights available to all or certain Owners, it may sell the rights, warrants or other instruments in proportion to the number of American Depositary Shares held by the Owners to whom it has determined it may
not lawfully or feasibly make such rights available, and allocate the net proceeds of such sales (net of the fees and expenses of the Depositary as provided in Section 5.9 of the Deposit Agreement and all taxes and governmental charges payable
in connection with such rights and subject to the terms and conditions of the Deposit Agreement) for the account of such Owners otherwise entitled 
  

 A-11 

 to such rights, warrants or other instruments, upon an averaged or other practical basis without regard to any
distinctions among such Owners because of exchange restrictions or the date of delivery of any American Depositary Shares or otherwise. 
 The Depositary will not offer rights to Owners unless both the rights and the securities to which such rights relate are either exempt from registration under the Securities Act with respect to a distribution to Owners or are registered
under the provisions of the Securities Act; provided, however, that nothing in the Deposit Agreement shall create any obligation on the part of the Company to file a registration statement with respect to such rights or underlying
securities or to endeavor to have such a registration statement declared effective. If an Owner requests distribution of warrants or other instruments, notwithstanding that there has been no such registration under the Securities Act, the Depositary
shall not effect such distribution unless it has received an opinion from recognized counsel in the United States for the Company upon which the Depositary may rely that such distribution to such Owner is exempt from such registration;
provided, however, that the Company shall have no obligation to cause its counsel to issue such opinion at the request of such Owner. 
 The Depositary shall not be responsible for any reasonable failure to determine that it may be lawful or feasible to make such rights available to Owners in general or any Owner in particular. 
  

	15.	RECORD DATES. 

 Whenever any cash dividend or
other cash distribution shall become payable or any distribution other than cash shall be made, or whenever rights shall be issued with respect to the Deposited Securities, or whenever for any reason the Depositary causes a change in the number of
Shares that are represented by each American Depositary Share, or whenever the Depositary shall receive notice of any meeting of holders of Shares or other Deposited Securities, or whenever the Depositary shall find it necessary or convenient, the
Depositary shall fix a record date, which date shall be the same date, to the extent practicable, as the record date for the Deposited Securities or if different, as close thereto as practicable (a) for the determination of the Owners of
Receipts who shall be (i) entitled to receive such dividend, distribution or rights or the net proceeds of the sale thereof or (ii) entitled to give instructions for the exercise of voting rights at any such meeting, (b) on or after
which each American Depositary Share will represent the changed number of Shares or (c) for any other matter, subject to the provisions of the Deposit Agreement. 
  

	16.	VOTING OF DEPOSITED SECURITIES. 

 Upon
receipt of notice of any meeting of holders of Shares or other Deposited Securities, if requested in writing by the Company the Depositary shall, as soon as practicable thereafter, mail to the Owners a notice, the form of which notice shall be in
the discretion of the Depositary and shall contain (a) such information as is contained in 
  

 A-12 

 such notice of meeting, and (b) a statement that the Owners as of the close of business on a specified record date
will be entitled, subject to any applicable provision of the People’s Republic of China and Cayman Islands law and of the Memorandum and Articles of Association of the Company, to instruct the Depositary as to the exercise of the voting rights,
if any, pertaining to the amount of Shares or other Deposited Securities represented by their respective American Depositary Shares and (c) a statement as to the manner in which such instructions may be given, or deemed given in accordance with
the last sentence of this paragraph if no instruction is received, to the Depositary to give a discretionary proxy to a person designated by the Company. Upon the written request of an Owner on such record date, received on or before the date
established by the Depositary for such purpose (the “Instruction Date”), the Depositary shall endeavor, in so far as practicable, to vote or cause to be voted the amount of Shares or other Deposited Securities represented by the American
Depositary Shares in accordance with the instructions set forth in such request. The Depositary shall not vote or attempt to exercise the right to vote that attaches to such Shares or other Deposited Securities other than in accordance with such
instructions or deemed instructions. If no instructions are received by the Depositary from any Owner with respect to any of the Deposited Securities represented by the American Depositary Shares evidenced by such Owner’s Receipts on or before
the date established by the Depositary for such purpose, the Depositary shall deem such Owner to have instructed the Depositary to give a discretionary proxy to a person designated by the Company with respect to such Deposited Securities and the
Depositary shall give a discretionary proxy to a person designated by the Company to vote such Deposited Securities; provided, that no such instruction shall be deemed given and no such discretionary proxy shall be given with respect to any
matter as to which the Company informs the Depositary (and the Company agrees to provide such information as promptly as practicable in writing) that (x) the Company does not wish such proxy given, (y) substantial opposition exists or
(z) such matter materially and adversely affects the rights of holders of Shares. 
 There can be no assurance that Owners generally or
any Owner in particular will receive the notice described in the first paragraph of Section 4.7 of the Deposit Agreement sufficiently prior to the Instruction Date to ensure that the Depositary will vote the Shares or Deposited Securities in
accordance with the provisions of that paragraph. 
  

	17.	CHANGES AFFECTING DEPOSITED SECURITIES. 

 In
circumstances where the provisions of Section 4.3 of the Deposit Agreement do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of Deposited Securities, or upon any
recapitalization, reorganization, merger or consolidation, or sale of assets affecting the Company or to which it is a party, any securities which shall be received by the Depositary or a Custodian in exchange for or in conversion of or in respect
of Deposited Securities shall be treated as new Deposited Securities under the Deposit Agreement, and American 
  

 A-13 

 Depositary Shares shall thenceforth represent, in addition to the existing Deposited Securities, if any, the new
Deposited Securities so received in exchange or conversion, unless additional Receipts are delivered pursuant to the following sentence. In any such case the Depositary may execute and deliver additional Receipts as in the case of a dividend in
Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such new Deposited Securities. 
  

	18.	LIABILITY OF THE COMPANY AND DEPOSITARY. 

 Neither the Depositary nor the Company nor any of their respective directors, officers, employees, agents or affiliates shall incur any liability to any Owner or Beneficial Owner, if by reason of any provision of any present or future law
or regulation of the United States, the People’s Republic of China or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any provision, present or future, of the Memorandum and Articles of
Association of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any Offering or distribution thereof or by reason of any act of God or war or terrorism or other circumstances beyond its control,
the Depositary or the Company shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing or performing any act or thing which by the terms of the Deposit Agreement or Deposited Securities it is
provided shall be done or performed; nor shall the Depositary or the Company or any of their respective directors, officers, employees, agents or affiliates incur any liability to any Owner or Beneficial Owner of a Receipt by reason of any
non-performance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of the Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any
discretion provided for in the Deposit Agreement. Where, by the terms of a distribution pursuant to Sections 4.1, 4.2 or 4.3 of the Deposit Agreement, or an offering or distribution pursuant to Section 4.4 of the Deposit Agreement, or for any
other reason, such distribution or offering may not be made available to Owners of Receipts, and the Depositary may not dispose of such distribution or offering on behalf of such Owners and make the net proceeds available to such Owners, then the
Depositary shall not make such distribution or offering, and shall allow any rights, if applicable, to lapse in each such case without liability to the Company or the Depositary. 
 Neither the Company nor the Depositary nor any of their directors, officers, employees, agents or affiliates assumes any obligation or shall be subject
to any liability under the Deposit Agreement to Owners or Beneficial Owners, except that the Company and the Depositary agree to perform their obligations specifically set forth in the Deposit Agreement without negligence or bad faith. The
Depositary shall not be subject to any liability with respect to the validity or worth of the Deposited Securities. Neither the Depositary nor the Company shall be under any obligation to appear in, prosecute or defend any action, suit or other
proceeding in respect of any Deposited Securities or in respect of the American Depositary Shares that in its opinion may involve it in expense or 
  

 A-14 

 liability, unless indemnity satisfactory to it against all expenses and liability shall be furnished as often as may be
required, and the Custodian shall not be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being solely to the Depositary. Neither the Depositary nor the Company shall be liable for any action or
nonaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Owner or Beneficial Owner, or any other person believed by it in good faith to be competent to give such
advice or information. The Depositary shall not be liable for any acts or omissions made by a successor depositary whether in connection with a previous act or omission of the Depositary or in connection with any matter arising wholly after the
removal or resignation of the Depositary, provided that in connection with the issue out of which such potential liability arises the Depositary performed its obligations without negligence or bad faith while it acted as Depositary. The Depositary
shall not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, or for the manner in which any such vote is cast or the effect of any such vote, provided that any such action or nonaction is in good
faith. No disclaimer of liability under the Securities Act is intended by any provision of the Deposit Agreement. 
  

	19.	RESIGNATION AND REMOVAL OF THE DEPOSITARY. 

 The Depositary may at any time resign as Depositary under the Deposit Agreement by written notice
of its election so to do delivered to the Company, such resignation to take effect upon the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed
by the Company by 120 days prior written notice of such removal, which shall become effective upon the later to occur of the (i) 120th day after delivery of the notice to the Depositary or (ii) the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever the Depositary in its
discretion determines that it is in the best interest of the Owners of Receipts to do so, it may appoint a substitute or additional custodian or custodians. 
  

	20.	AMENDMENT. 

 The form of the Receipts and any
provisions of the Deposit Agreement may at any time and from time to time be amended by agreement between the Company and the Depositary without the consent of Owners and Beneficial Owners in any respect which they may deem necessary or desirable.
Any amendment which shall impose or increase any fees or charges (other than taxes and other governmental charges, registration fees, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or which shall otherwise
prejudice any substantial existing right of Owners, shall, however, not become effective as to outstanding American Depositary Shares until the expiration of 30 days after notice of such amendment shall have been given to the Owners of outstanding
American Depositary Shares. Every Owner and holder of American Depositary Shares at the time any amendment so becomes effective shall be deemed, by continuing to hold such American Depositary Shares or any interest therein, to consent 
  

 A-15 

 and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment
impair the right of the Owner to surrender American Depositary Shares and receive therefor the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. 
  

	21.	TERMINATION OF DEPOSIT AGREEMENT. 

 The
Depositary shall at any time at the direction of the Company terminate the Deposit Agreement by mailing notice of such termination to the Owners of all American Depositary Shares then outstanding at least 30 days prior to the date fixed in such
notice for such termination. The Depositary may likewise terminate the Deposit Agreement by mailing notice of such termination to the Company and the Owners of all American Depositary Shares then outstanding if at any time 60 days shall have expired
after the Depositary shall have delivered to the Company a written notice of its election to resign and a successor depositary shall not have been appointed and accepted its appointment as provided in the Deposit Agreement. On and after the date of
termination, the Owner of American Depositary Shares will, upon (a) surrender of such American Depositary Shares, (b) payment of the fee of the Depositary for the surrender of American Depositary Shares referred to in Section 2.5 of
the Deposit Agreement and (c) payment of any applicable taxes or governmental charges, be entitled to delivery, to him or upon his order, of the amount of Deposited Securities represented by those American Depositary Shares. If any American
Depositary Shares shall remain outstanding after the date of termination, the Depositary thereafter shall discontinue the registration of transfers of American Depositary Shares, shall suspend the distribution of dividends to the Owners thereof, and
shall not give any further notices or perform any further acts under the Deposit Agreement, except that the Depositary shall continue to collect dividends and other distributions pertaining to Deposited Securities, shall sell rights and other
property as provided in the Deposit Agreement, and shall continue to deliver Deposited Securities, together with any dividends or other distributions received with respect thereto and the net proceeds of the sale of any rights or other property,
upon surrender of American Depositary Shares (after deducting, in each case, the fee of the Depositary for the surrender of American Depositary Shares, any expenses for the account of the Owner of such American Depositary Shares in accordance with
the terms and conditions of the Deposit Agreement and any applicable taxes or governmental charges). At any time after the expiration of six months from the date of termination, the Depositary may sell the Deposited Securities then held under the
Deposit Agreement and may thereafter hold uninvested the net proceeds of any such sale, together with any other cash then held by it thereunder, unsegregated and without liability for interest, for the pro rata benefit of the Owners of American
Depositary Shares which have not theretofore been surrendered, such Owners thereupon becoming general creditors of the Depositary with respect to such net proceeds. After making such sale, the Depositary shall be discharged from all obligations
under the Deposit Agreement, except for its obligations to the Company under Section 5.8 of the Deposit Agreement and to account for such net proceeds and other cash (after deducting, in each case, the fee of the Depositary for the surrender of
American 
  

 A-16 

 Depositary Shares, any expenses for the account of the Owner of such American Depositary Shares in accordance with the
terms and conditions of the Deposit Agreement, and any applicable taxes or governmental charges). Upon the termination of the Deposit Agreement, the Company shall be discharged from all obligations under the Deposit Agreement except for its
obligations to the Depositary under Sections 5.8 and 5.9 of the Deposit Agreement. 
  

	22.	DTC DIRECT REGISTRATION SYSTEM AND PROFILE MODIFICATION SYSTEM. 

 (a) Notwithstanding the provisions of Section 2.4 of the Deposit Agreement, the parties acknowledge that the Direct Registration System (“DRS”) and Profile Modification System (“Profile”)
shall apply to uncertificated American Depositary Shares upon acceptance thereof to DRS by DTC. DRS is the system administered by DTC pursuant to which the Depositary may register the ownership of uncertificated American Depositary Shares, which
ownership shall be evidenced by periodic statements issued by the Depositary to the Owners entitled thereto. Profile is a required feature of DRS which allows a DTC participant, claiming to act on behalf of an Owner, to direct the Depositary to
register a transfer of those American Depositary Shares to DTC or its nominee and to deliver those American Depositary Shares to the DTC account of that DTC participant without receipt by the Depositary of prior authorization from the Owner to
register such transfer. 
 (b) In connection with and in accordance with the arrangements and procedures relating to DRS/Profile, the parties
understand that the Depositary will not verify, determine or otherwise ascertain that the DTC participant which is claiming to be acting on behalf of an Owner in requesting registration of transfer and delivery described in subsection (a) has
the actual authority to act on behalf of the Owner (notwithstanding any requirements under the Uniform Commercial Code). For the avoidance of doubt, the provisions of Sections 5.3 and 5.8 of the Deposit Agreement shall apply to the matters arising
from the use of the DRS. The parties agree that the Depositary’s reliance on and compliance with instructions received by the Depositary through the DRS/Profile System and in accordance with the Deposit Agreement, shall not constitute
negligence or bad faith on the part of the Depositary. 
  

	23.	SUBMISSION TO JURISDICTION; APPOINTMENT OF AGENT FOR SERVICE OF PROCESS. 

 The Company has (i) irrevocably designated and appointed CT Corporation System, 111 Eighth Avenue, New York, New York, as the Company’s authorized agent upon which process may be served in any suit or
proceeding arising out of or relating to the Shares or Deposited Securities, the American Depositary Shares, the Receipts or this Agreement, (ii) consents and submits to the jurisdiction of any state or federal court in the State of New York in
which any such suit or proceeding may be instituted, and (iii) agrees 
  

 A-17 

 that service of process upon said authorized agent shall be deemed in every respect effective service of process upon the
Company in any such suit or proceeding. The Company agrees to deliver, upon the execution and delivery of the Deposit Agreement, a written acceptance by such agent of its appointment as such agent. The Company further agrees to take any and all
action, including the filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment in full force and effect for so long as any American Depositary Shares or Receipts remain outstanding or the
Deposit Agreement remains in force. In the event the Company fails to continue such designation and appointment in full force and effect, the Company hereby waives personal service of process upon it and consents that any such service of process may
be made by certified or registered mail, return receipt requested, directed to the Company at its address last specified for notices hereunder, and service so made shall be deemed completed five (5) days after the same shall have been so
mailed. 
  

	24.	ARBITRATION. 

 In the event the Depositary is
advised that a judgment of a court in the United States court may not be recognized, the following provisions shall apply: 
 (i) Any
controversy, claim or cause of action brought by any party or parties hereto against any other party or parties hereto arising out of or relating to the Deposit Agreement shall be settled by arbitration in accordance with the Commercial Arbitration
Rules of the American Arbitration Association, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. 
 (ii) The place of the arbitration shall be the City of New York, State of New York, United States of America, and the language of the arbitration shall be English. 
 (iii) The number of arbitrators shall be three, each of whom shall be disinterested in the dispute or controversy, shall have no connection with any
party thereto, and shall be an attorney experienced in international securities transactions. Each party shall appoint one arbitrator and the two arbitrators shall select a third arbitrator who shall serve as chairperson of the tribunal. If a
dispute, controversy or cause of action shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to
such dispute, controversy or cause of action. If either or both parties fail to select an arbitrator, or if such alignment (in the event there is more than two parties) shall not have occurred, within sixty (60) calendar days after the
initiating party serves the arbitration demand or the two arbitrators fail to select a third arbitrator within sixty (60) calendar days of the selection of the second arbitrator, the American Arbitration Association shall appoint the arbitrator
or arbitrators in accordance with its rules. The parties and the American Arbitration Association may appoint the arbitrators from among the nationals of any country, whether or not a party is a national of that country. 
  

 A-18 

 (iv) The arbitrators shall have no authority to award damages not measured by the prevailing party’s
actual damages and shall have no authority to award any consequential, special or punitive damages, and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of the Deposit Agreement. 

(v) In the event any third-party action or proceeding is instituted against the Depositary relating to or arising from any act or failure to act by
the Company, the Company hereby submits to the personal jurisdiction of the court or administrative agency in which such action or proceeding is brought. 
  

	25.	COMPLIANCE WITH U.S. SECURITIES LAWS. 

 Notwithstanding anything in the Deposit Agreement to the contrary, the Company and the Depositary each agrees that it will not exercise any rights it has under the Deposit Agreement to permit the withdrawal or delivery of Deposited
Securities in a manner which would violate the U.S. securities laws, including, but not limited to, Section I.A.(1) of the General Instructions to the Form F-6 Registration Statement, as amended from time to time, under the Securities Act.

  

 A-19Amended and Restated Series A Preferred Share Purchase Agreement

 Exhibit 4.5 
 Execution Copy 
 AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT 
 THIS AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of May 19,
2006 by and among: 
 1. Trina Solar Energy Holding Limited Co., a Cayman Islands exempted company (the “Company”); 
 2. Changzhou Trina Solar Energy Co. Ltd., a wholly foreign-owned enterprise established by the Company under the laws of the People’s Republic of China (the
“WFOE”); 
 3. Mr. Gao Jifan (People’s Republic of China identification number 22014196501151579), Trina International Investment
Co., Ltd., a company organized under the laws of the British Virgin Islands, Ms. Wu Chunyan, and Perseverance International Investment Co. Ltd., a company organized under the laws of the British Virgin Islands (each a
“Founder”, collectively, referred to herein as the “Founders”; and 
 4. each of the persons listed on Exhibit A-1
and any other persons who shall have purchased Series A Shares (as defined below) pursuant to, and become signatories to, this Agreement (collectively, the “Investors” and each, an “Investor”, and collectively
with the Company and the WFOE, the “Parties”). 
 RECITALS 
 A. The Company and certain of the Investors had previously entered into that certain Series A Preferred Share Purchase Agreement dated as of
April 28, 2006 (the “Prior Agreement”) for the purchase of 409,356,726 Series A preferred shares, par value US$ 0.00001 per share, of the Company (the “Series A Shares”) on the terms and conditions set
forth in the Prior Agreement; 
 B. The WFOE is a wholly foreign-owned enterprise established on December 26, 1997 under the laws of the
People’s Republic of China with its principal place of business at No. 2 Xin Yuan 1 Road, Electronic Park, Xinbei District, Changzhou, Jiangsu, PRC; 
 C. The Company owns 100% of the issued and outstanding equity interest in the WFOE; 
 D. Pursuant to
Section 9.7 of the Prior Agreement, the parties to the Prior Agreement desire to amend and restate the Prior Agreement in order to, inter alia, provide for the sale and issuance of an additional 136,452,242 Series A Shares on the terms and
conditions set forth in this Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties hereby agree as follows: 

 1. AGREEMENT TO PURCHASE AND SELL SHARES 
 1.1 Authorization. As of the Initial Closing (as defined below), the Company shall have authorized the issuance, pursuant to the terms and
conditions of this Agreement, of up to 409,356,726 Series A Shares having the rights, preferences, privileges and restrictions as set forth in the First Amended and Restated Memorandum of Association and the First Amended and Restated Articles
of Association of the Company attached hereto as Exhibit B-1 (collectively, the “First Restated Articles”). On or prior to the first Subsequent Closing (as such term is defined in Section 2.2 below), the Company
shall have authorized the issuance, pursuant to the terms and conditions of this Agreement, of up to 545,808,968 Series A Shares having the rights, preferences, privileges and restrictions as set forth in the Second Amended and Restated Memorandum
of Association and the Second Amended and Restated Articles of Association of the Company attached hereto as Exhibit B-2 (collectively, the “Second Restated Articles”). 
 1.2 Agreement to Purchase and Sell. Subject to the terms and conditions hereof, the Company hereby agrees to issue, allot and sell to each
Investor, and such Investor hereby agrees, severally and not jointly, to purchase from the Company, up to that number of Series A Shares set forth opposite its name under the caption “Series A Preferred Shares” in Exhibit A-5
at a price of US$ 0.0732857 per share (the “Purchase Price”). The Series A Shares to be purchased and sold pursuant to this Agreement will be collectively hereinafter referred to as the “Purchased Shares”
and the ordinary shares of the Company issuable upon conversion of the Purchased Shares will be collectively hereinafter referred to as the “Conversion Shares” (together with the Purchased Shares, the “Securities”).
The Purchase Price shall be paid by wire transfer of funds to a designated account of the Company, which shall be provided to the Investors at least seven (7) business days prior to the Closing (as defined herein). 
 2. CLOSINGS; DELIVERY 
 2.1 Initial
Closing. Subject to the satisfaction of the terms and conditions set forth in Section 6 and 7 of this Agreement, the initial closing of the purchase and sale of the Purchased Shares shall be held at the offices of Weil, Gotshal &
Manges LLP in Shanghai, PRC on May 5, 2006 or at such other time and place as Company and the Investors may mutually agree upon (the “Initial Closing”). The date of the Initial Closing, which the Parties acknowledge is
May 17, 2006, shall be referred to herein as the “Initial Closing Date”. 
 2.2 Subsequent Closings. Subject to
the terms and conditions of this Agreement, the Company may sell to each Investor up to such number of Series A Shares as is set forth opposite the name of each such Investor in Exhibit A-6 hereof, at one or more subsequent closings (the
“Subsequent Closings”) (the date of each Subsequent Closing shall be referred to herein as the “Subsequent Closing Date”) to occur no later than May 30, 2006 (or at such other time as the Company and the
Investors may mutually agree upon), so long as the sales of the Series A Shares at such Subsequent Closings are pursuant to the terms of this Agreement and at the price per share set forth in Section 1.2 above. Any purchaser purchasing Series A
Shares at a Subsequent Closing (each a “Subsequent Purchaser”) shall execute a counterpart signature page to this Agreement and the Shareholders Agreement (as defined in Section 3.2(a)(iii) below), at which time such purchaser
shall be deemed to be a party to this Agreement and the Shareholders Agreement as of the date of the Subsequent Closing as an “Investor” hereunder and thereunder, and the Series A Shares purchased by such Subsequent Purchaser shall be
deemed to be “Purchased Shares” hereunder. The Company shall amend 

  

 2 

 
Exhibit A hereto to reflect the sales pursuant to the Subsequent Closings. For purposes of this Agreement, the terms “Closing” and
“Closing Date,” unless otherwise indicated, refer to the applicable closing and closing date of the Initial Closing or the Subsequent Closing(s), as the case may be. 
 2.3 Delivery and Payment. Subject to the terms of this Agreement, at each applicable Closing, the Company shall deliver to each Investor, in
addition to any items the delivery of which is made an express closing condition pursuant to Section 6, a certificate representing the number of Series A Shares purchased by such Investor at such Closing, against payment of the applicable
aggregate Purchase Price therefor, and a register of the members of the Company, updated to reflect the sale and issuance of the Series A Shares at such Closing in accordance with the First Restated Articles or Second Restated Articles, as
applicable, and the laws of the Cayman Islands, and certified by the Chief Executive Officer of the Company as of the date of such Closing. 
 3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY, THE WFOE AND EACH OF THE FOUNDERS 
 The Company, the WFOE and each of the Founders,
jointly and severally, hereby represent and warrant to each Investor, except as set forth in the Disclosure Schedule (the “Disclosure Schedule”) attached to this Agreement as Exhibit C (which Disclosure Schedule shall be
deemed to be representations and warranties to such Investor), as of the date hereof, that the statements in this Section 3 are true, correct and complete. 
 In this Agreement, any reference to a party’s “knowledge” means such party’s actual knowledge after due and diligent inquiries of all persons (including all officers and directors of such
party) reasonably believed to have knowledge of the matter in question; “Group Companies” means the Company and the WFOE (each a “Group Company”), of which the WFOE shall be hererinafter referred to as the
“PRC Company”; and “Material Adverse Effect” means any change, event or effect that (i) is or would be materially adverse to the business, operations, assets, liabilities, condition (financial or otherwise) or
results of operations of any member of the Group Company, in each case individually or taken as a whole, or (ii) is or would materially impair the validity or enforceability of this Agreement against the Company, the WFOE or any of the Founders
or (iii) is or would materially and adversely affect the Company, the WFOE or any of the Founders’ ability to perform its obligations under this Agreement, any Ancillary Agreement or in connection with the transactions contemplated
hereunder or thereunder. 
 3.1 Organization, Standing and Qualification. Each Group Company is duly organized, validly existing and
in good standing (or equivalent status in the relevant jurisdiction) under, and by virtue of, the laws of the place of its incorporation or establishment and has all requisite power and authority to own its properties and assets and to carry on its
business as now conducted and as proposed to be conducted, and to perform each of its obligations hereunder and under any agreement contemplated hereunder to which it is a party. Each Group Company is qualified to do business and is in good standing
(or equivalent status in the relevant jurisdiction) in each jurisdiction where failure to be so qualified would have a Material Adverse Effect. 
  

 3 

 3.2 Capitalization. 
 (a) Capitalization of the Company. A complete and current list of all outstanding shareholders, option holders and other security holders of the Company as of the date hereof is set forth in
Schedule 3.2(a) of the Disclosure Schedule, indicating the type and number of shares, options or other securities held by each such shareholder, option holder or other security holder. Immediately prior to the first Subsequent Closing,
the authorized share capital of the Company consists of the following: 
 (i) Ordinary Shares. A total of 4,454,191,032 authorized
ordinary shares, par value US$ 0.00001 per share, of the Company (the “Ordinary Shares”), of which 1,000,000,000 shares are issued and outstanding. 
 (ii) Series A Shares. A total of 545,808,968 authorized preferred shares, all of which are designated as Series A Shares, par value US$ 0.00001 per share, of which 204,678,363 are issued and outstanding
immediately prior to the first Subsequent Closing. 
 (iii) Options, Warrants, Reserved Shares. The Company has reserved 764,132,556
Ordinary Shares for issuance upon the conversion of the Purchased Shares. Except for (i) the conversion privileges of the Purchased Shares, (ii) the preemptive rights provided in the Amended and Restated Shareholders Agreement to be
entered into at the first Subsequent Closing and attached hereto as Exhibit D (the “Shareholders Agreement”), and (iii) 52,631,579 Ordinary Shares (and options and warrants therefor) reserved for issuance to
employees, officers or directors of, or consultants to, the Company (or any of its subsidiaries) pursuant to the employee equity incentive plans to be approved by the Board of Directors of the Company (the “Board”) and the holders
of at least an eighty percent (80%) majority of the Series A Shares then outstanding, there are no options, warrants, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently outstanding to purchase
any of the shares of any Group Company. Apart from the exceptions noted in this Section 3.2(a) and the Shareholders Agreement, no shares (including the Purchased Shares and the Conversion Shares) of the outstanding share capital of the Company,
or shares issuable upon exercise or exchange of any outstanding options or other shares issuable by the Company, are subject to any preemptive rights, rights of first refusal or other rights to purchase such shares (whether in favor of the Company
or any other person). 
 (b) Capitalization of the Other Group Companies. 
 (i) The authorized total investment of the WFOE is US$ 11,700,000, of which US$ 7,280,000 is registered capital. The WFOE is 100% owned of record by the
Company. There are no other equity securities or rights, arrangements or agreements to acquire any equity securities or ownership interests in the WFOE. 
 (ii) The registered capital of the WFOE was timely contributed, has been duly verified by a certified accountant registered in the PRC and the accounting firm employing such accountant, and the report of the certified
public accountant evidencing such verification has been registered with the relevant governmental authorities, and such registered capital is free and clear of any lien, mortgage, pledge, deed of trust, hypothecation, claim, security interest, or
other encumbrance, and is nonassessable. 
 (iii) Except as described in (i) and (ii) of this Section 3.2(b), there are no
equity securities or ownership interests issued or authorized by WFOE (including but not limited to rights of first refusal, preemptive rights, proxy, conversion 

  

 4 

 
privileges, subscriptions or other rights, arrangements or agreements). None of the PRC Companies is a party or subject to any contract that affects or
relates to preemptive rights, rights of first refusal or other rights to purchase shares or ownership interests in any of the PRC Companies (whether in favor of a PRC Company or any other person). 
 3.3 Subsidiaries; Group Structure. 
 (a) Except for the WFOE, 100% of the equity interest of which is owned by the Company, the Company does not presently own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture,
association, or other entity. The WFOE does not have any subsidiaries, does not own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association or other entity and does not maintain any
offices or branches or subsidiaries except for its offices in Lhasa, Tibet, Xinqiao, Jiangsu, PRC. 
 (b) Prior to the Initial Closing, the
Company and the WFOE shall have taken all necessary actions and executed and delivered (or otherwise received) all necessary approval documents, permits and licenses (together, the “Restructuring Documents”), to properly and legally
complete the reorganization of the Group Companies in a manner satisfactory to the Investors, so as to provide that the WFOE is a wholly-owned subsidiary of the Company (the “Restructuring”). 
 (c) Except as set forth in Schedule 3.3(c) of the Disclosure Schedule, the PRC Companies shall possess all requisite approvals, permits and
licenses for the conduct of the principal business as currently conducted and proposed to be conducted by the PRC Companies and for the ownership and operation of its assets and property in the PRC. 
 (d) The PRC Companies shall possess all requisite approvals, permits and licenses for the conduct of the principal business as currently conducted and
proposed to be conducted by the PRC Companies and for the ownership and operation of its assets and property in the PRC. 
 3.4 Due
Authorization. All corporate action on the part of the Company, the WFOE and the Founders and, as applicable, their respective officers, directors and shareholders necessary for (i) the authorization, execution and delivery of, and the
performance of all obligations of the Company, the WFOE and each of the Founders under this Agreement, the Shareholders Agreement and any other agreements to which it is a party and the execution of which is contemplated hereunder (the
“Ancillary Agreements”), and (ii) the authorization, issuance, reservation for issuance and delivery of all of the Purchased Shares being sold under this Agreement and of the Conversion Shares has been taken or will be taken
prior to the first Subsequent Closing. Each of this Agreement, the Shareholders Agreement and the Ancillary Agreements is a valid and binding obligation of the Company, the WFOE and each of the Founders enforceable in accordance with its terms,
subject, as to enforcement of remedies, to applicable bankruptcy, insolvency, moratorium, reorganization and similar laws affecting creditors’ rights generally and to general equitable principles. 
 3.5 Valid Issuance of Purchased Shares. 
 (a) The Purchased Shares, when issued, sold and delivered in accordance with the terms of this Agreement, will be duly and validly issued, fully paid and nonassessable and will be free of restrictions on transfer other than restrictions on
transfer under 

  

 5 

 
this Agreement, the Shareholders Agreement and under applicable securities laws. The Ordinary Shares issuable upon conversion of the Series A Shares have
been duly and validly reserved for issuance and, upon issuance in accordance with the terms of the Second Restated Articles, will be duly and validly issued, fully paid, and nonassessable and will be free of restrictions on transfer other than
restrictions on transfer under this Agreement and the Shareholders Agreement and under applicable securities laws. 
 (b) The outstanding
capital shares of the Group Companies are duly and validly issued, fully paid and nonassessable, and all outstanding shares, options, warrants and other securities of the Group Companies in each instance have been duly and validly issued in full
compliance with the requirements of all applicable securities laws and regulations, or in compliance with applicable exemptions therefrom, and all other provisions of applicable securities laws and regulations, including, without limitation,
anti-fraud provisions. 
 3.6 Liabilities. No Group Company has any indebtedness for borrowed money in excess of US$25,000
individually or in the aggregate that it has directly or indirectly created, incurred, assumed, or guaranteed, or with respect to which the Group Company has otherwise become directly or indirectly liable, except in the ordinary course of business.

 3.7 Title to Properties and Assets. Each Group Company has good and marketable title to its material properties and assets held in
each case subject to no mortgage, pledge, lien, encumbrance, security interest or charge of any kind, other than such mortgage, pledge, lien, encumbrance, security interest or charge that would not materially adversely affect the use and enjoyment
by the applicable Group Company of its material properties and assets covered or affected thereby. With respect to the property and assets it leases and to the best knowledge of the Company, each Group Company is in compliance with such leases and
such Group Company holds valid leasehold interests in such assets free of any liens, encumbrances, security interests or claims of any party other than the lessors of such property and assets. 
 3.8 Status of Proprietary Assets. For purposes of this Agreement, (i) “Proprietary Assets” shall mean all patents, patent
applications, trademarks, trademark applications, service marks, service mark applications, trade names, domain names, copyrights, copyright registrations and applications and all other rights corresponding thereto, inventions, databases and all
rights therein, all computer software including all source code, object code, firmware, development tools, files, records and data, including all media on which any of the foregoing is stored, formulas, designs, trade secrets, confidential and
proprietary information, proprietary rights, know-how and processes of a company, and all documentation related to any of the foregoing; and (ii) “Registered Intellectual Property” means all Proprietary Assets of any Group
Company, wherever located, that is the subject of an application, certificate, filing, registration or other document issued by, filed with or recorded by any government authority. Each Group Company (i) has independently developed and owns
free and clear of all claims, security interests, liens or other encumbrances, or (ii) has a valid right or license to use all Proprietary Assets, including Registered Intellectual Property, necessary and appropriate for its business as now
conducted and as proposed to be conducted and without any conflict with or infringement of the rights of others. Schedule 3.8 of the Disclosure Schedule contains a complete list of Proprietary Assets, including all Registered
Intellectual Property, of each Group Company. There are no outstanding options, licenses, agreements or rights of any kind granted by any Group Company or any other party relating to any Proprietary Assets or Registered Intellectual Property, nor is
any Group Company bound by or a party to any 

  

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options, licenses, agreements or rights of any kind with respect to the Proprietary Assets or Registered Intellectual Property of any other person or entity,
except, in either case, for standard end-user agreements with respect to commercially readily available intellectual property such as “off the shelf” computer software. No Group Company nor any Founder has received any written
communications alleging that it has violated or, by conducting its business as proposed, would violate any Proprietary Assets of any other person or entity, nor is there any reasonable basis therefor. None of the current officers, employees or
consultants of any Group Company (at the time of their employment or engagement by a Group Company) has been or is obligated under any contract (including licenses, covenants or commitments of any nature) or other agreement, or subject to any
judgment, decree or order of any court or administrative agency, that would interfere with the use of his, her or its best efforts to promote the interests of such Group Company or that would conflict with the business of such Group Company as
proposed to be conducted or that would prevent such officers, employees or consultants from assigning to such Group Company inventions conceived or reduced to practice in connection with services rendered to such Group Company. Neither the execution
nor delivery of this Agreement, the Shareholders Agreement and any Ancillary Agreement, nor the carrying on of the business of any Group Company by its employees, nor the conduct of the business of any Group Company as proposed, will conflict with
or result in a breach of the terms, conditions or provisions of, or constitute a default under, any contract, covenant or instrument under which any of such employees is now obligated. Each Group Company and Founder believes that it will not be
necessary to utilize any inventions of any of the Group Companies’ employees (or people the Group Companies currently intend to hire) made prior to or outside the scope of their employment by the relevant Group Company. Except as set forth in
Schedule 3.8 of the Disclosure Schedule, no government funding, facilities of any educational institution or research center, or funding from third parties has been used in the development of any Proprietary Assets of any Group Company.
Notwithstanding the foregoing, any such governmental or third party funding or use of facilities does not grant such governmental authority or third party any ownership or license rights to the Proprietary Assets of any Group Company. 
 3.9 Corporate Documents. The First Restated Articles is attached hereto as Exhibit B-1, the Second Restated Articles are attached hereto as
Exhibit B-2, and each PRC Company’s memorandum and articles of association (or equivalent constitutional document) and business license in effect as of the date hereof and as of the date of the first Subsequent Closing is attached to
Schedule 3.9 of the Disclosure Schedule. 
 3.10 Solvency. None of the Group Companies has made a general assignment for the
benefit of its creditors. No proceeding has been or is instituted by or against any Group Company seeking to adjudicate any of them bankrupt or insolvent, or seeking liquidation, winding up or reorganization, moratorium, arrangement, adjustment,
protection, relief or composition of its debts under any applicable laws relating to bankruptcy, insolvency or reorganization. 
 3.11
Material Contracts and Obligations. All oral or written agreements, contracts, leases, licenses, instruments, commitments, indebtedness, liabilities and other obligations to which any Group Company is a party or by which it is bound that
(i) are material to the conduct and operations of its business and properties, (ii) involve any of the officers, consultants, directors, employees or shareholders of the Group Company; or (iii) obligate such Group Company to share,
license or develop any product or technology and have been made available for inspection by the Investors and their counsel (in each case, including any amendments, 

  

 7 

 
modifications or supplements thereto). For purposes of this Section 3.11, “material” shall mean (i) having an aggregate
value, cost or amount, or imposing liability or contingent liability on any Group Company, in excess of US$100,000 or that extend for more than one year beyond the date of this Agreement, (ii) not terminable upon thirty (30) days notice
without incurring any penalty or obligation, (iii) containing exclusivity, non-competition, or similar clauses that impair, restrict or impose conditions on any Group Company’s right to offer or sell products or services in specified
areas, during specified periods, or otherwise, (iv) not in the ordinary course of business, (v) transferring or licensing any Proprietary Assets to or from any Group Company (other than licenses granted in the ordinary course of business
or licenses from commercially readily available “off the shelf” computer software) or (vi) an agreement the termination of which would be reasonably likely to have a Material Adverse Effect. 
 3.12 Litigation. There is no material action, suit, proceeding, claim, arbitration or investigation (“Action”) pending (or, to
the best knowledge of the Company, the WFOE and any of the Founders, currently threatened) against any of the Group Companies, any Group Company’s activities, properties or assets or against any officer, director or employee of any Group
Company in connection with such officer’s, director’s or employee’s relationship with, or actions taken on behalf of any Group Company. To the best knowledge of the Company, the WFOE and any of the Founders, there is no factual or
legal basis for any such Action that is likely to result, individually or in the aggregate, in any material adverse change in the business, properties, assets, financial condition, affairs or prospects of any Group Company. By way of example, but
not by way of limitation, there are no Actions pending against any of the Group Companies or, to the best knowledge of the Company and the WFOE, threatened against any of the Group Companies, relating to the use by any employee of any Group Company
of any information, technology or techniques allegedly proprietary to any of their former employers, clients or other parties. None of the Group Companies is a party to or subject to the provisions of any order, writ, injunction, judgment or decree
of any court or government agency or instrumentality and there is no Action by any Group Company currently pending or which it intends to initiate. 
 3.13 Compliance with Laws; Consents and Permits. None of the Group Companies is in violation of any applicable statute, rule, regulation, directive, order or restriction of any domestic or foreign government or any instrumentality or
agency thereof in respect of the conduct of its business or the ownership of its properties. All consents, licenses, permits, approvals, orders, authorizations or registrations, qualifications, designations, declarations or filings by or with any
governmental authority and any third party which are required to be obtained or made by each Group Company and each of the Founders in connection with the consummation of the transactions contemplated hereunder shall have been obtained or made prior
to and be effective as of the Initial Closing. Each Group Company has all material franchises, permits, licenses and any similar authority necessary for the conduct of its business as currently conducted and as proposed to be conducted, the absence
of which would be reasonably likely to have a Material Adverse Effect. None of the Group Companies is in material default under any of such franchises, permits, licenses or other similar authority. The establishment of the Company and the
acquisition of all shares of capital stock of the Company currently issued and outstanding were undertaken in compliance with all relevant rules and regulations of the PRC, and all filings and registrations with the relevant PRC authorities as
required in connection with such establishment and acquisition of shares have been duly undertaken and completed. 
  

 8 

 3.14 Compliance with Other Instruments and Agreements. None of the Group Companies is in, nor
shall the conduct of its business as currently or proposed to be conducted result in, a violation, breach or default of any term of the constitutional documents of the respective Group Company (the “Constitutional Documents”), nor
in material violation, breach or default in respect of any term or provision of any oral or written mortgage, indenture, contract, agreement or instrument to which the Group Company is a party or by which it may be bound (the “Group Company
Contracts”) or of any provision of any judgment, decree, order, statute, rule or regulation applicable to or binding upon the Group Company. None of the activities, agreements, commitments or rights of any Group Company is ultra vires or
unauthorized. The execution, delivery and performance of and compliance with this Agreement, the Shareholders Agreement and any Ancillary Agreement and the consummation of the transactions contemplated hereby and thereby will not result in any such
violation, breach or default, or be in conflict with or constitute, with or without the passage of time or the giving of notice or both, either a default under any Group Company’s Constitutional Documents or any Group Company Contract, or a
violation of any statutes, laws, regulations or orders, or an event which results in the creation of any lien, charge or encumbrance upon any asset of any Group Company. 
 3.15 Disclosure. Each of the Company, the WFOE and the Founders has fully provided the Investors with all the information that the Investors have reasonably requested for deciding whether to purchase the
Purchased Shares and all information that each of the Company, the WFOE and the Founders believes is reasonably necessary to enable the Investors to make such decision. No representation or warranty by any of the Company, the WFOE and the Founders
in this Agreement and no information or materials provided by any of the Company, the WFOE or the Founders to the Investors in connection with the negotiation or execution of this Agreement or any agreement contemplated hereby contains or will
contain any untrue statement of a material fact, or omits or will omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances in which they are made, not
misleading. Any business plan or other financial projections and strategic plans delivered to the Investors by or on behalf of any of the Group Companies fairly describe the current and intended business of the Group Companies and represent a good
faith assessment and estimate of the performance of the Group Companies for the periods covered thereby based on assumptions set forth therein which are reasonable when made and continue to be reasonable as of the date of the first Subsequent
Closing. 
 3.16 Registration Rights. Except as provided in the Shareholders Agreement, neither the Company, nor any other Group
Company has granted or agreed to grant any person or entity any registration rights (including piggyback registration rights) with respect to, nor is the Company obliged to list, any of the Company’s shares (or the shares of any PRC Company) on
any securities exchange. Except as contemplated under this Agreement and the Shareholders Agreement, there are no voting or similar agreements which relate to the securities of the Company or the PRC Companies. 
 3.17 Financial Statements; Projections. (a) The Company has delivered to the Investors the final but yet-to-be-signed draft of audited
consolidated balance sheet, income statement and cash flow statement of the WFOE as at December 31, 2004 and 2005, for the fiscal years then ended (which financial statements have been prepared and audited and will be certified by a firm of
independent certified public accountants of recognized international standing and reputation selected by the Company and acceptable to the Investors), as well as the unaudited consolidated balance sheet, income statement and cash flow statement of
the WFOE as at and 

  

 9 

 
for the 3-month period ended March 31, 2006 (collectively, the “Financial Statements”). Such Financial Statements (i) are in
accordance with the books and records of the applicable Group Company, (ii) are true, correct and complete and present fairly the financial condition of such Group Company at the date or dates therein indicated and the results of operations for
the period or periods therein specified, and (iii) have been prepared in accordance with the International Financial Reporting Standards applied on a consistent basis (“IFRS”), except as to the unaudited consolidated financial
statements, for the omission of notes thereto and normal year-end audit adjustments. Specifically, but not by way of limitation, the respective balance sheets of the Financial Statements disclose all of the respective Group Company’s material
debts, liabilities and obligations of any nature, whether due or to become due, as of their respective dates (including, without limitation, absolute liabilities, accrued liabilities, and contingent liabilities) to the extent such debts, liabilities
and obligations are required to be disclosed in accordance with IFRS. Each Group Company has good and marketable title to all assets set forth on the balance sheets of the respective Financial Statements, except for such assets as have been spent,
sold or transferred in the ordinary course of business since their respective dates. Except as disclosed in the Financial Statements, none of the Group Companies is a guarantor or indemnitor of any indebtedness of any other person or entity. Each
Group Company maintains and will continue to maintain a standard system of accounting established and administered in accordance with generally accepted accounting principles as required in the jurisdiction where it is incorporated. 
 (b) The financial projections and business plan provided by the WFOE to the Investors prior to the date hereof were reasonably prepared on a basis
reflecting management’s best estimates, assumptions and judgments, at the time provided to the Investors, as to the future financial performance of the PRC Group. 
 3.18 Activities Since Balance Sheet Date. There has not been, since March 31, 2006 (the “Balance Sheet Date”) with respect to the Company or the WFOE: 
 (a) any change in the assets, liabilities, financial condition or operating results of such Group Company from that reflected in the Financial Statements,
except changes in the ordinary course of business that have not been, in the aggregate, materially adverse; 
 (b) any material adverse
change in the contingent obligations of such Group Company by way of guarantee, endorsement, indemnity, warranty or otherwise; 
 (c) any
damage, destruction or loss, whether or not covered by insurance, materially and adversely affecting the assets, properties, financial condition, operating results, prospects or business of such Group Company (as presently conducted and as presently
proposed to be conducted); 
 (d) any waiver by such Group Company of a valuable right or of a material debt; 
 (e) any satisfaction or discharge of any lien, claim or encumbrance or payment of any obligation by such Group Company, except such satisfaction,
discharge or payment made in the ordinary course of business that is not material to the assets, properties, financial condition, operating results or business of such Group Company; 
  

 10 

 (f) any material change or amendment to a material contract or arrangement by which such Group Company or
any of its assets or properties is bound or subject, except for changes or amendments which are expressly provided for or disclosed in this Agreement; 
 (g) any material change in any compensation arrangement or agreement with any present or prospective employee, contractor or director; 
 (h) any sale, assignment or transfer of any Proprietary Assets or other material intangible assets of such Group Company, other than those required to be transferred pursuant to this Agreement; 
 (i) any resignation or termination of any Key Employee of such Group Company; 
 (j) any mortgage, pledge, transfer of a security interest in, or lien created by such Group Company, with respect to any of such Group Company’s
properties or assets, except liens for taxes not yet due or payable and such encumbrances incurred by the WFOE in the ordinary course of business consistent with past practice; 
 (k) any debt, obligation, or liability incurred, assumed or guaranteed by such Group Company individually in excess of US$10,000 or in excess of
US$25,000 in the aggregate except such debt or liability is incurred in the ordinary course of business; 
 (l) any declaration, setting
aside or payment or other distribution in respect of any of such Group Company’s share capital, or any direct or indirect redemption, purchase or other acquisition of any of such share capital by such Group Company (but excluding the sale of
Series A Shares hereunder); 
 (m) any material failure to conduct business in the ordinary course, consistent with such Group Company’s
past practices; 
 (n) any transactions with any of its officers, directors or employees, or any members of their immediate families, or any
entity controlled by any of such individuals; 
 (o) any other event or condition of any character which could reasonably be expected to have
a Material Adverse Effect; or 
 (p) any agreement or commitment by such Group Company to do any of the things described in this
Section 3.18. 
 3.19 Tax Matters. The provisions for taxes in the respective Financial Statements are sufficient for the payment
of all accrued and unpaid applicable taxes of the covered Group Company, whether or not assessed or disputed as of the date of each such balance sheet. There have been no examinations or audits of any tax returns or reports by any applicable
governmental agency, other than routine tax inspections conducted by an applicable governmental agency in the ordinary course of business. Each Group Company has duly filed all tax returns required to have been filed by it and paid all taxes shown
to be due on such returns. Each Group Company is not subject to any waivers of applicable statutes of limitations with respect to taxes for any year. Since the Balance Sheet Date (or the date of its organization with respect to the WFOE), none of
the Group Companies has incurred any taxes, assessments 

  

 11 

 
or governmental charges other than in the ordinary course of business and each Group Company has made adequate provisions on its books of account for all
taxes, assessments and governmental charges with respect to its business, properties and operations for such period. Each Group Company has withheld or collected from each payment made to each of its employees, the amount of all taxes (including,
but not limited to, PRC income taxes) required to be withheld or collected therefrom, and has paid the same to the proper tax authority. Each Group Company is not a “Foreign Personal Holding Company” (“FPHC”), a
“Controlled Foreign Corporation” (“CFC”), or a “Passive Foreign Investment Company,” as such terms are defined in the United States Internal Revenue Code of 1986, as amended (the “Code”).

 3.20 Interested Party Transactions. Except as set forth in Schedule 3.20 of the Disclosure Schedule: 
 (a) No officer or director of a Group Company or any “Affiliate” or “Associate” (as those terms are defined in
Rule 405 promulgated under the Act) of any such person has any agreement (whether oral or written), understanding, proposed transaction with, or is indebted to, any Group Company, nor is any Group Company indebted (or committed to make loans or
extend or guarantee credit) to any of such persons (other than for accrued salaries, reimbursable expenses or other standard employee benefits). 
 (b) No officer or director of a Group Company has any direct or indirect ownership interest in any firm or corporation with which a Group Company is affiliated or with which a Group Company has a business relationship, or any firm or
corporation that competes with a Group Company. 
 (c) No Affiliate or Associate of any officer or director of a Group Company is directly or
indirectly interested in any material contract with a Group Company. No officer or director of a Group Company or any Affiliate or Associate of any such person has had, either directly or indirectly, a material interest in: (a) any person or
entity which purchases from or sells, licenses or furnishes to a Group Company any goods, property, intellectual or other property rights or services; or (b) any contract or agreement to which a Group Company is a party or by which it may be
bound or affected. 
 (d) There is no agreement between any officer or director of a Group Company or any Affiliate or Associate of any such
person and any other shareholder with respect to the ownership or control of any Group Company. 
 (e) There are no loans, guarantees,
cross-guarantees, pledges, credit or other similar agreements, monies due, advances made or other funds transferred (or any commitment to make any such loans or extensions of guarantee or credit), between any Group Company and any employees,
officers, directors, or shareholders thereof, or between one Group Company and another Group Company. 
 3.21 Environmental and Safety
Laws. None of the Group Companies is in material violation of any applicable statute, law, or regulation relating to the environment or occupational health and safety and no material expenditures are or will be required in order to comply with
any such existing statute, law or regulation. 
 3.22 Employee Matters. Each Group Company has complied in all material aspects with
all applicable employment and labor laws. The Company is not aware that any officer or key employee intends to terminate their employment with any Group Company, 

  

 12 

 
nor does any Group Company have a present intention to terminate the employment of any officer or key employee. Other than the Employment Agreements to be
entered into pursuant to Section 5.5 hereof, none of the Group Companies is a party to or bound by any currently effective employment contract, incentive plan, profit sharing plan, retirement agreement or other employee compensation
agreement. Each Key Employees, officer, director and consultant of the Group Companies has duly executed a confidentiality agreement (the “Confidentiality Agreement”) and a service contract in the form or forms delivered to the
Investors. None of the Group Companies is aware that any of such employees, officers, directors or consultants are in violation of such Confidentiality Agreement or service contract. 
 3.23 Exempt Offering. Subject in part to the truth and accuracy of the Investors’ representations set forth in Section 4 of this
Agreement, the offer and sale of the Purchased Shares under this Agreement is exempt from the registration or qualification requirements of any applicable securities laws and regulations, and the issuance of Ordinary Shares upon conversion of the
Purchased Shares in accordance with the Company’s Memorandum and Articles of Association (as may be amended from time to time) will be exempt from such registration or qualification requirements. 
 3.24 No Other Business. Other than (i) such business as may be performed on and behalf of the Group Companies, or (ii) as set forth on
Schedule 3.24 of the Disclosure Schedule, the officers of a Group Company are not engaged in any business and do not otherwise participate in, directly or indirectly (whether as an officer, employee, partner, consultant, or holder of a
majority equity interest), or lend their name (or any part, variant or formative thereof) to, any other business. 
 3.25 Minute
Books. The minute books of each Group Company which have been made available to the Investors contain a materially complete summary of all meetings and actions taken by directors and shareholders or owners of such Group Company since 2001, and
reflect all transactions referred to in such minutes accurately in all material respects. 
 3.26 Other Representations and Warranties
Relating to the PRC Companies. 
 (a) The constitutional documents and material certificates and related contracts and agreements of each
of the PRC Companies are valid and have been duly approved or issued (as applicable) by competent PRC authorities. 
 (b) All material
consents, approvals, authorizations or licenses required under PRC law for the due and proper establishment and operation of each of the PRC Companies have been duly obtained from the relevant PRC authorities and are in full force and effect.

 (c) All material filings and registrations with the PRC authorities required in respect of each of the PRC Companies and its operations,
including but not limited to the registrations with the Ministry of Foreign Trade and Economic Cooperation (or its successor, the Ministry of Commerce), the State Administration of Industry and Commerce, the State Administration for Foreign
Exchange, tax bureau, customs authorities and product registration authorities have been duly completed in accordance with the relevant rules and regulations. 
  

 13 

 (d) The registered capital of each of the PRC Companies is fully paid up. The Company legally and
beneficially owns 100% of the equity interest in the WFOE. There are no outstanding rights, or commitments made by any of the PRC Companies to sell any of its equity interest. 
 (e) None of the PRC Companies is in receipt of any letter or notice from any relevant authority notifying revocation of any permits or licenses issued to
it for noncompliance or the need for compliance or remedial actions in respect of the activities carried out directly or indirectly by it. 
 (f) Each of the PRC Companies has been conducting and will conduct its business activities within the permitted scope of business or is otherwise operating its business in full compliance with all relevant legal requirements and with all
requisite licenses, permits and approvals granted by competent PRC authorities. 
 (g) In respect of approvals, licenses or permits requisite
for the conduct of any part of the business of each of the PRC Companies which are subject to periodic renewal, neither the Company nor the WFOE nor any Founder, has any reason to believe that such requisite renewals will not be timely granted by
the relevant PRC authorities. 
 (h) Except as set forth in Schedule 3.26 of the Disclosure Schedule, with regard to employment and
staff or labor management, each of the PRC Companies has complied with all applicable PRC laws and regulations in all material respects, including without limitation, laws and regulations pertaining to welfare funds, social benefits, medical
benefits, insurance, retirement benefits, and pensions. 
 (i) All PRC regulatory and corporate authorizations and approvals, where
applicable, have been obtained in respect of the Restructuring Documents, which are currently, or will be as of the Initial Closing, and shall as of the first Subsequent Closing continue to be, valid and subsisting under PRC law and in accordance
with their respective terms. 
 3.27 Advisor’s Fee. Except for as set forth in Schedule 3.27 of the Disclosure Schedule,
there exists no agreement or understanding between any Group Company or any of its affiliates and any investment bank or other financial advisor under which such Group Company may owe any brokerage, placement or other fees relating to the offer or
sale of the Purchased Shares. 
 3.28 Insurance. Except as listed in Section 3.28 of the Disclosure Schedule, there are no
insurance policies maintained by or on behalf of any Group Company. All insurance policies maintained by the Group Companies are in full force and effect, and all premiums due thereon have been paid. Each of the Group Companies has complied in all
material respects with the terms and provisions of such policies. The insurance coverage amounts provided by such policies are customary for companies similarly situated. 
 3.29 Compliance with Anti-Money Laundering Laws. Each of the Group Companies complies with anti-money laundering laws, rules, and regulations of its own jurisdiction, has established and maintains an anti-money
laundering program in accordance with laws, rules and regulations of its jurisdiction, and does not to its knowledge have a business relationship with any persons subject to any sanctions list. 
  

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 3.30 Compliance with Foreign Corrupt Practices Law. Each of the Group Companies (a) is aware
of and familiar with the provisions of the U.S. Foreign Corrupt Practices Act of 1977, as amended (“FCPA”) and its purposes and all laws, regulations, notices, decrees and decisions in applicable jurisdictions concerning bribery
issues (“Applicable Anti-Bribery Laws”) and (b) have taken no action and made no payment (including promises to take action or to make payments) in violation of, or that might cause any other party or its affiliates or
subsidiaries to be in violation of, the FCPA, Applicable Anti-Bribery Laws or any other applicable laws and regulations. 
 4. REPRESENTATIONS AND
WARRANTIES OF THE INVESTORS 
 Each Investor severally and not jointly represents and warrants to the Company as follows that as to
itself: 
 4.1 Authorization. The Investor has all requisite power, authority and capacity to enter into this Agreement and the
Shareholders Agreement, and to perform its obligations under this Agreement and the Shareholders Agreement. This Agreement has been duly authorized, executed and delivered by the Investor. This Agreement and the Shareholders Agreement, when executed
and delivered by the Investor, will constitute valid and legally binding obligations of the Investor, subject, as to enforcement of remedies, to applicable bankruptcy, insolvency, moratorium, reorganization and similar laws affecting creditors’
rights generally and to general equitable principles. 
 4.2 Purchase for Own Account. The Purchased Shares and the Conversion Shares
will be acquired for the Investor’s own account, not as a nominee or agent, and not with a view to or in connection with the sale or distribution of any part thereof. 
 4.3 Exempt from Registration; Restricted Securities. The Investor understands that the Purchased Shares and the Conversion Shares will not be
registered or listed publicly pursuant to any applicable securities laws and regulations, on the ground that the sale provided for in this Agreement is exempt from registration under registration or listing requirements of applicable securities laws
and regulations, and that the reliance of the Company on such exemption is predicated in part on the Investor’s representations set forth in this Agreement. The Investor understands that the Purchased Shares and the Conversion Shares are not
registered or listed publicly and must be held indefinitely unless they are subsequently registered or listed publicly or an exemption from such registration or listing is available. 
 4.4 Compliance Matters. The Investor’s execution, delivery and performance of and compliance with this Agreement, the Shareholders Agreement
and any Ancillary Agreement and the consummation of the transactions contemplated hereby and thereby will not result in any violation, breach or default, or be in conflict with or constitute, with or without the passage of time or the giving of
notice or both, either a default under such Investor’s constitutional documents, or a violation of any statutes, laws, regulations or orders applicable to such Investor. 
  

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 5. COVENANTS OF THE COMPANY AND THE WFOE AND THE FOUNDERS 
 Each of the Company, the WFOE and the Founders covenants to the Investors as follows: 
 5.1 Use of Proceeds from the Sale of Purchased Shares. The proceeds from the sale of the Purchased Shares (the “Proceeds”) shall
be used by the Company and the WFOE in the manner set forth in a statement of use of proceeds to be agreed upon in writing between the Company, the WFOE and the Investors prior to the Initial Closing (the “Statement of Proceeds”).

 5.2 Confidentiality, Non-compete and Invention Assignment Agreement. The Company and the PRC Companies shall cause all of their
respective future employees and consultants to enter into a standard form service contract and the Confidentiality Agreement. In addition, the Company and the PRC Company shall cause all of their respective existing and future employees to enter
into agreements properly assigning, transferring or confirming any ownership rights relating to any Proprietary Assets of the Company or the PRC Company. 
 5.3 Tax. 
 (a) The Company shall not, and shall cause the shareholders of the Company not to, without
the written consent of the Investors, issue or transfer shares in the Company to any person if following such issuance or transfer the Company, in the reasonable determination of counsel or accountants for the Investors, would be either a CFC or a
FPHC as defined in the Code with respect to the shares held by the Investors. No later than two (2) months following the end of each Company taxable year, the Company shall provide the following information to the Investors: (i) the
Company’s capitalization table as of the end of the last day of such taxable year and (ii) a report regarding the Company’s status as a CFC. In addition, the Company shall provide the Investors with access to such other Company
information as may be required by the Investors to determine the Company’s status as a CFC or a FPHC, to determine whether the Investors are required to report its pro rata portion of the Company’s “Subpart F income” (as defined
in the Code) on its United States federal income tax return, or to allow the Investors to otherwise comply with applicable United States federal income tax laws. In the event that the Company is determined by counsel or accountants for the Investors
to be either a CFC or FPHC as defined in the Code (or any successor thereto) with respect to the shares held by the Investors, Company agrees to use commercially reasonable efforts to avoid generating (i) for any taxable year in which the
Company is a CFC, “subpart F income,” as such term is defined in Section 952 of the Code, and (ii) for any taxable year in which the Company is an FPHC, “foreign personal holding company income,” as such term is defined
in Section 553 of the Code. In the event that Company is determined by counsel or accountants for the Investors to be either a CFC or a FPHC as defined in the Code (or any successor thereto) with respect to the shares held by any Investor,
Company agrees, to the extent permitted by law, to annually make dividend distributions to each Investor in an amount equal to fifty percent (50%) of any income deemed distributed to such Investor pursuant to either of the foregoing provisions.

 (b) The Company shall use its best efforts to avoid being a “passive foreign investment company” within the meaning of
Section 1297 of the Code (or any successor thereto). In connection with a “Qualified Electing Fund” election made by any Investor pursuant to Section 1295 of the Code (or any successor thereto), the Company shall provide annual
financial information to the Investors in the PFIC annual information statement and shall provide the Investors with access to such other Company information as 

  

 16 

 
may be required for purposes of filing United States federal income tax returns in connection with such Qualified Electing Fund election. In the event that
an Investor who has made a “Qualified Electing Fund” election must include in its gross income for a particular taxable year its pro rata share of the Company’s earnings and profits pursuant to Section 1293 of the Code (or any
successor thereto), the Company agrees to the extent permitted by law, to make a dividend distribution to such Investor (no later than ninety (90) days following the end of the Investor’s taxable year) in an amount equal to fifty percent
(50%) of the amount so included by such Investor. 
 (c) The Company shall obtain representations, warranties and covenants from each
entity in which it invests or has invested substantially to the effect of the representations, warranties and covenants contained in the foregoing Sections 5.3(a) and (b) and such additional representations, warranties and covenants as shall be
necessary to allow the Company to comply with the provisions of the foregoing Sections 5.3(a) and (b). 
 (d) Except to the extent that the
Investors elect otherwise, the Company shall take such actions, including making an election to be treated as a corporation or refraining from making an election to be treated as a partnership, as may be required to ensure that at all times the
Company is treated as a corporation for United States federal income tax purposes. 
 5.4 Tax Indemnity. Each of the Company, the WFOE
and the Founders hereby, jointly and severally, undertakes to pay to the Investors on demand an amount equal to the amount of any diminution in the value of the Series A Shares, and to indemnify the Investors against any and all losses, liabilities,
damages, suits, obligations, judgments or settlements or any kind (including, without limitation, all reasonable legal costs, costs of recovery and other expenses incurred by the Investors) resulting from any claim of taxation (including those
resulting from cancellation or reclamation of tax benefits of any kind relating to the Group Companies or the Restructuring Documents) arising from an event that occurred or is deemed to have occurred prior to the first Subsequent Closing, including
without limitation, in connection with the Restructuring Documents. 
 5.5 Employment Agreement. No later than May 30, 2006, each
officer and employee of the Group Companies as set forth on Exhibit E (the “Key Employees”) hereto shall enter into an employment agreement (each, an “Employment Agreement” and collectively, the
“Employment Agreements”) in form and substance satisfactory to the Investors, which employment agreements shall set forth provisions regarding compensation, non-competition, and such other terms and conditions as shall be approved
by the Board. 
 5.6 Employee Stock Option Plan. 
 (a) Shares Reserved. 52,631,579 Ordinary Shares (the “ESOP Reserved Shares”) shall be reserved for allocation to employees, officers, directors, consultants or other service providers of the
Company or any of its subsidiaries (collectively, the “Employees”) pursuant to bona fide service or employment-related share purchase or option plans and allocations approved by the Board and holders of at least an eighty percent
(80%) majority of the voting power of the then outstanding Series A Shares (each such plan, an “ESOP”). 
 (b)
Vesting. Unless otherwise approved by the Board and holders of at least a majority of the voting power of the then outstanding Series A Shares, all securities issued under any ESOP shall be subject to the following vesting schedule: 25% of
the 

  

 17 

 
securities will vest on the one (1) year anniversary of such issuance, and the remaining 75% of the securities will vest monthly thereafter in equal
installments for thirty-six (36) months. 
 5.7 Reservation of Ordinary Shares. The Company will at all times keep reserved for
issuance and delivery upon conversion of the Series A Shares such number of Ordinary Shares or other shares of the Company from time to time issuable upon conversion of any Series A Shares and will, from time to time, take all necessary actions to
amend its Memorandum of Association to provide sufficient reserve of Ordinary Shares for issuance upon conversion of the Series A Shares. 
 5.8 TUV Certification. The WFOE shall obtain a certificate evidencing compliance with IEC 61215 AND TUV Safety Class II no later than June 30, 2006. 
 5.9 Real Property Title and Building Permits. The WFOE shall obtain all the necessary land use right certificates, building construction permits and other relevant authorizations and approvals with respect to
its principal place of business and operation located in the Electronic Park, Xinbei District, Changzhou, Jiangsu Province, China no later than July 31, 2006. 
 5.10 Employee Benefit Reserved Funds. The WOFE shall rectify and fully comply with the laws and regulations pertaining to welfare funds, social benefits, housing fund, medical benefits, insurance, retirement
benefits, and pensions for all of it eligible employees immediately after Closing. 
 5.11 Transfer of Intellectual Property.
Mr. Gao Jifan and Changzhou Trina Investment Co. Ltd. shall effectuate and complete the transfer of all the intellectual property rights listed in Exhibit G as soon as practicable. All applications for transfer all patents shall have
been made and formally accepted such relevant government authorities before May 31, 2006. All applications for transfer of all trademarks shall be made and formally accepted by relevant government authorities before October 30, 2006.

 5.12 Additional Covenants. Except as required by this Agreement, no resolution of the directors, owners, members, partners or
shareholders of any of the Company or the WFOE shall be passed, nor shall any material contract or commitment be entered into, in each case, prior to the first Subsequent Closing, other than in the ordinary course of business, without the prior
written consent of the Investors, except that the Company and the WFOE may carry on their respective business in the same manner as heretofore and may pass resolutions and enter into contracts for so long as they are effected in the ordinary course
of business. 
 If at any time before the first Subsequent Closing, the Company, the WFOE or any of the Founders comes to know of any
material fact or event which: 
 (a) is in any way materially inconsistent with any of the representations and warranties given by the Company
or the PRC Companies, and/or 
 (b) suggests that any material fact warranted may not be as warranted or may be materially misleading, and/or

  

 18 

 (c) might affect the willingness of a prudent investor to purchase the Purchased Shares or the amount of
consideration which the Investors would be prepared to pay for the Purchased Shares, the Company, the WFOE or the Founders shall give immediate written notice thereof to the Investors in which event each Investor may within fourteen
(14) business days of receiving such notice terminate this Agreement by written notice without any penalty whatsoever and without prejudice to any rights that the Investors may have under this Agreement or applicable law. In such case, each of
the Company and the WFOE shall jointly and severally indemnify the Investors against all costs, charges and expenses incurred by it in connection with the negotiation, preparation and termination of this Agreement, the Shareholders Agreement and the
Ancillary Agreements. 
 6. CONDITIONS TO INVESTORS’ OBLIGATIONS AT THE CLOSING 
 The obligation of each Investor to purchase its Purchased Shares at the Closing is subject to the fulfillment, to the satisfaction of the Investors or
waiver on or prior to the Closing, of the following conditions: 
 6.1 Representations and Warranties True and Correct. The
representations and warranties made by the Company, the WFOE and the Founders in Section 3 hereof shall be true and correct and complete when made, and shall be true and correct and complete as of the date of the Closing with the same force and
effect as if they had been made on and as of such date, subject to changes contemplated by this Agreement. 
 6.2 Performance of
Obligations. Each of the Company, the WFOE and the Founders shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the
Closing. 
 6.3 Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated hereby
and all documents and instruments incident to such transactions shall be satisfactory in substance and form to the Investors, and the Investors shall have received all such counterpart originals or certified or other copies of such documents as it
may reasonably request. 
 6.4 Approvals, Consents and Waivers. Each Group Company shall have obtained any and all approvals, consents
and waivers necessary for consummation of the transactions contemplated by this Agreement as well as the Restructuring Documents, including, but not limited to, all permits, authorizations, approvals, consents or permits of any governmental
authority or regulatory body. 
 6.5 Due Diligence. The Investors shall have completed and be satisfied, in their sole discretion,
with the results of all business, legal and financial due diligence (including, without limitation, any customer interviews at the request of the Investors) with respect to the Group Companies, and any items requiring correction identified by
the Investors shall have been corrected to such Investor’s satisfaction. 
 6.6 Compliance Certificate. The Company, the WFOE,
GAO Jifan, WU Chunyan, Trina International Investment Co., Ltd. and Perseverance International Investment Co., Ltd. shall each deliver to the Investors a certificate, dated the date of the applicable Subsequent Closing, signed by the Company’s
President or director, the legal representative of each of the WFOE, Trina International Investment Co., Ltd., Perseverance International Investment Co., Ltd., GAO Jifan and WU Chunyan, respectively, certifying that the 

  

 19 

 
conditions specified in Sections 6.1 and 6.2 have been fulfilled and stating that there shall have been no material adverse change in the business,
affairs, prospects, operations, properties, assets or condition of the Company and the WFOE since the date of this Agreement. 
 6.7
Securities Laws. The offer and sale of the Purchased Shares to the Investors pursuant to this Agreement shall be exempt from the registration and/or qualification requirements of all applicable securities laws. 
 6.8 Amendment to Constitutional Documents. The First Restated Articles (as of the Initial Closing) and the Second Restated Articles (as of the
first Subsequent Closing) shall have been duly adopted by the Company by all necessary corporate action of its Board and its shareholders and duly filed with the Cayman Islands Registrar of Companies. 
 6.9 Register of Members. The Investors shall have received a copy of the Company’s register of members, certified by a director of the
Company as true and complete as of the date of the Closing, updated to show the Investors as the holders of their respective number of Purchased Shares as of the Closing. 
 6.10 Appointment of Directors. As of the Initial Closing, QIU Liping and David LEE shall have been added to the Board, such that the members of the Board shall consist of Messrs. GAO Jifan, LIU Canfang, SHI
Jianwei, YIP Lai Shing, WU Chunyan, QIU Liping, and David LEE. As of the first Subsequent Closing, Dr. Sven M. HANSEN and Mr. GAO Jiqing shall have been added to the Board, such that the members of the Board shall consist of Messrs.
GAO Jifan, LIU Canfang, SHI Jianwei, YIP Lai Shing, WU Chunyan, QIU Liping, David LEE, Dr. Sven M. HANSEN, and GAO Jiqing. 
 6.11
Opinions of the Company’s Counsel. The Company shall have delivered to the Investors legal opinions by Cayman Island counsel and PRC counsel with respect to the Group Companies, dated the date of the first Subsequent Closing, each in a
form reasonably acceptable to the Investors (and, for such purpose, would include having them addressed to COFRA Holding AG). 
 6.12
Execution of Shareholders Agreement. The Company shall have delivered to the Investors the Shareholders Agreement, duly executed by the Company and all other parties thereto (except for the Investors). 
 6.13 Execution of Statement of Proceeds. The Company shall have delivered to the Investors the Statement of Proceeds. 
 6.14 No Material Adverse Effect. There shall have been no Material Adverse Effect since the date of this Agreement. 
 6.15 Number of Shares Sold. No less than 204,678,363 Purchased Shares shall have been purchased and subscribed for at the Initial Closing.

 6.16 Payment of Legal Expenses. The Company shall have reimbursed Milestone at the Initial Closing the fees and expenses as set
forth in Section 9.15 hereof; or in lieu thereof, such fees and expenses may be properly deducted from the aggregate sale proceeds to be paid by Milestone to the Company at the Initial Closing in connection with the purchase of the Series A
Shares. 
  

 20 

 7. CONDITIONS TO COMPANY’S OBLIGATIONS AT THE CLOSINGS 
 The obligations of the Company under this Agreement with respect to the Investors are subject to the fulfillment at or before the Closing of the following
conditions: 
 7.1 Representations and Warranties. The representations and warranties of the Investors contained in Section 4
hereof shall be true and correct as of the Closing. 
 7.2 Payment of Purchase Price. The Investors shall have delivered to the
Company the Purchase Price in accordance with Section 2. 
 7.3 Restated Articles Effective. The First Restated Articles (as of
the Initial Closing) and the Second Restated Articles (as of the first Subsequent Closing) shall have been duly adopted by the Company by all necessary corporate action by its Board and shareholders. 
 7.4 Securities Exemptions. The offer and sale of the Purchased Shares to the Investors pursuant to this Agreement shall be exempt from the
registration and/or qualification requirements of all applicable securities laws. 
 7.5 Execution of Shareholders Agreement. The
Investors shall have executed and delivered to the Company the Shareholders Agreement. 
 8. CONFIDENTIALITY. 
 8.1 Disclosure of Terms. The terms and conditions of this Agreement, any term sheet or memorandum of understanding entered into pursuant to the
transactions contemplated hereby, all exhibits and schedules attached hereto and thereto, any other document contemplated hereunder, and the transactions contemplated hereunder and thereunder, including their existence (collectively, the
“Financing Terms”), shall be considered confidential information and shall not be disclosed by any Party to any third party except as otherwise permitted in accordance with the provisions set forth below. 
 8.2 Permitted Disclosures. Notwithstanding the foregoing, after the applicable Closing, (i) any party may disclose the Financing Terms, the
existence of the investment and the identity of the Investors solely to its current investors, investment bankers, lenders, accountants, legal counsels, employees, and bona fide prospective investors, in each case only where such persons or entities
are under strict nondisclosure obligations; provided, however, that the Company may disclose to third parties the fact that each Investor (except for Realm Investments Limited and any of its affiliates including Good Energies
Investments BV and COFRA Holding AG) is an investor in the Company without obtaining nondisclosure obligations from such third parties; and (ii) each Investor may, at its option, disclose the Financing Terms and the existence of its respective
investment in the Company to any person, in a press release, or pursuant to any other public announcement. In the event that an Investor has disclosed information pertaining to the transactions contemplated hereunder in a press release or other
public announcement, any such information so disclosed may subsequently be disclosed by the Company or any other Investor. 
  

 21 

 8.3 Legally Compelled Disclosure. In the event that any party is requested or becomes legally
compelled (including without limitation, pursuant to applicable securities laws or as required by applicable rules of any stock exchange or securities regulatory authority) to disclose the existence of this Agreement or content of any of the
Financing Terms in contravention of the provisions of this Section 8, such party (the “Disclosing Party”) shall provide the other Parties with prompt written notice of that fact and shall consult with the other Parties
regarding such disclosure. The Disclosing Party shall, to the extent possible and with the cooperation and reasonable efforts of the other parties, seek a protective order, confidential treatment or other appropriate remedy. In such event, the
Disclosing Party shall furnish only that portion of the information which is legally required and shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. 
 8.4 Press Releases, Etc. Within sixty (60) days after the applicable Closing, the Company may issue a press release disclosing that the
Investors have invested in the Company; provided, however, that (i) such press release shall not disclose any other Financing Terms; and (ii) the content of such press release shall have been approved in writing in advance by
the Investor(s) whose names are disclosed in such press release and the Founders. No other announcements regarding any Financing Term may be made by the Company in any press conference, professional or trade publication, marketing materials or
otherwise to the general public without the prior written consent of the Investor(s) whose name is to be included in such disclosure, which consent may be granted or withheld in the sole discretion of such Investor. 
 8.5 Other Confidentiality Obligations. The provisions of this Section 8 shall be in addition to, and not in substitution for, the
provisions of any separate nondisclosure agreement executed by any of the Parties with respect to the transactions contemplated hereby. 
 8.6 Notices. All notices required under this Section 8 shall be made pursuant to Section 9.6 of this Agreement. 
 9.
MISCELLANEOUS 
 9.1 Governing Law. This Agreement shall be governed by and construed exclusively in accordance the internal
laws of Hong Kong without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of Hong Kong to the rights and duties of the parties hereunder. 
 9.2 Survival. The representations, warranties, covenants and agreements made herein shall survive the execution and delivery of this Agreement,
and shall in no way be affected by any investigation made by any Party and the closing of the transactions contemplated hereby. 
 9.3
Indemnity. The Company, the WFOE and each of the Founders shall, jointly and severally, indemnify and hold harmless the Investors, and the Investors’ directors, officers, employees, affiliates, agents and assigns (each, an
“Indemnitee”), against any and all Indemnifiable Losses to such Indemnitee, directly or indirectly, as a result of, or based upon or arising from any inaccuracy in or breach of nonperformance of any of the representations,
warranties, covenants or agreements made by the Company, the WFOE and/or any of the Founders in or pursuant to this Agreement. For purposes of this Section 9.3, “Indemnifiable Loss” means, with 

  

 22 

 
respect to any Indemnitee, any action, cost, damage, disbursement, expense, liability, loss, deficiency, diminution in value, obligation, penalty or
settlement of any kind or nature, whether foreseeable or unforeseeable, including, but not limited to, (i) interest or other carrying costs, penalties, legal, accounting and other professional fees and expenses reasonably incurred in the
investigation, collection, prosecution and defense of claims and amounts paid in settlement, that may be imposed on or otherwise incurred or suffered by such Indemnitee and (ii) any taxes that may be payable by such Indemnitee as a result of
the indemnification of any Indemnifiable Loss hereunder. In the event of an Indemnifiable Loss, the Parties may require the Company to redeem the issued and outstanding Series A Shares in accordance with Section 7.5 of the Second Amended and
Restated Memorandum of Association of the Company. 
 9.4 Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the Parties whose rights or obligations hereunder are affected by such amendments. This Agreement and the rights
and obligations therein may not be assigned by the Investors without the written consent of the Company except to a parent corporation, a subsidiary or an affiliate. This Agreement and the rights and obligations therein may not be assigned by the
Company, the WFOE or any of the Founders without the written consent of all Investors. 
 9.5 Entire Agreement. This Agreement, the
Shareholders Agreement, any Ancillary Agreements, and the schedules and exhibits hereto and thereto, which are hereby expressly incorporated herein by this reference constitute the entire understanding and agreement between the parties with regard
to the subjects hereof and thereof; provided, however, that nothing in this Agreement or related agreements shall be deemed to terminate or supersede the provisions of any confidentiality and nondisclosure agreements executed by the
Parties prior to the date hereof, which agreements shall continue in full force and effect until terminated in accordance with their respective terms. 
 9.6 Notices. Except as may be otherwise provided herein, all notices, requests, waivers and other communications made pursuant to this Agreement shall be in writing and shall be conclusively deemed to have been
duly given (a) when hand delivered to the other party, upon delivery; (b) when sent by facsimile at the number set forth in Exhibit F hereto, upon receipt of confirmation of error-free transmission; (c) seven
(7) business days after deposit in the mail as air mail or certified mail, receipt requested, postage prepaid and addressed to the other Party as set forth in Exhibit F; or (d) three (3) business days after deposit with an
internationally recognized express delivery service, postage prepaid, addressed to the parties as set forth in Exhibit F with next business-day delivery guaranteed, provided that the sending Party receives a confirmation of delivery from the
delivery service provider. 
 Each person making a communication hereunder by facsimile shall promptly confirm by telephone to the person to
whom such communication was addressed each communication made by it by facsimile pursuant hereto but the absence of such confirmation shall not affect the validity of any such communication. A Party may change or supplement the addresses given
above, or designate additional addresses, for purposes of this Section 9.6 by giving, the other Party written notice of the new address in the manner set forth above. 
 9.7 Amendments and Waivers. Any term of this Agreement may be amended only with the written consent of the Company and each Investor,
provided, however, the addition of any Subsequent Purchasers as “Investors” hereunder and the updating of Exhibit A 

  

 23 

 
and/or Exhibit F attached hereto in order to reflect such additions shall not constitute an amendment of this Agreement, and consent of the Company
and the Investors shall not be required. 
 9.8 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to the Company, the WFOE, the Founders or the Investors, upon any breach or default of any Party under this Agreement, shall impair any such right, power or remedy of the Company, the WFOE, the Founders or the Investors nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach of default thereafter occurring; nor shall any waiver of any other breach or default theretofore or thereafter occurring. Any waiver,
permit, consent or approval of any kind or character on the part of the Company, the WFOE, the Founders or the Investors of any breach of default under this Agreement or any waiver on the part of the Company, the WFOE, the Founders or the Investors
of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or by law or otherwise afforded to the Company, the
WFOE, the Founders and the Investors shall be cumulative and not alternative. 
 9.9 Advisor’s Fees. The Company represents and
warrants to the other Party that it has retained no advisor, finder or broker in connection with the transactions contemplated by this Agreement, other than disclosed in Schedule 3.27 of the Disclosure Schedule. Each of the Group Companies
hereby agrees to indemnify and to hold harmless the Investors hereto from and against any liability for any commission or compensation in the nature of an advisor’s or finder’s fee of any broker or other person or firm (and the costs and
expenses of defending against such liability or asserted liability) for which any Group Company or any of its employees or representatives are responsible. 
 9.10 Interpretation; Titles and Subtitles. This Agreement shall be construed according to its fair language. The rule of construction to the effect that ambiguities are to be resolved against the drafting party
shall not be employed in interpreting this Agreement. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. Unless otherwise expressly provided
herein, all references to Sections and Exhibits herein are to Sections and Exhibits of this Agreement. 
 9.11 Counterparts. This
Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. Counterparts transmitted by facsimile shall be deemed to be originals. 
 9.12 Severability. If any provision of this Agreement is found to be invalid or unenforceable, then such provision shall be construed, to the
extent feasible, so as to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially the same terms as originally set forth herein, and if no feasible interpretation would save such
provision, it shall be severed from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to the rights or benefits intended by the parties. In such event, the parties shall use best
efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most nearly effects the parties’ intent in entering into this Agreement. 
  

 24 

 9.13 Further Assurances. Each Party shall from time to time and at all times hereafter make, do,
execute, or cause or procure to be made, done and executed such further acts, deeds, conveyances, consents and assurances without further consideration, which may reasonably be required to effect the transactions contemplated by this Agreement.

 9.14 Dispute Resolution. 
 (a) Negotiation Between Parties. The Parties agree to negotiate in good faith to resolve any dispute between them regarding this Agreement. If the negotiations do not resolve the dispute to the reasonable satisfaction of all parties
within thirty (30) days, Section 9.14(b) shall apply. 
 (b) Arbitration. In the event the parties are unable to settle a
dispute between them regarding this Agreement in accordance with subsection (a) above, such dispute shall he referred to and finally settled by arbitration at the Hong Kong International Arbitration Centre in accordance with the UNCITRAL
Arbitration Rules (the “UNCITRAL Rules”) in effect, which rules are deemed to be incorporated by reference into this subsection (b). The arbitration tribunal shall consist of three arbitrators to be appointed according to the
UNCITRAL Rules. The language of the arbitration shall be English. 
 9.15 Expenses. The Company shall reimburse Milestone Capital
Management Ltd. (“Milestone”) at the Initial Closing, all legal, financial, administrative and other fees and expenses incurred by Milestone in connection with the transactions contemplated hereunder (the “Deal
Expenses”) in an amount not to exceed the greater of (i) US$300,000 or (ii) one percent (1%) of the aggregate proceeds paid to the Company for the purchase of all Series A Shares issued and sold by the Company to all
Investors pursuant to this Agreement; provided, however, that in lieu of such reimbursement, the Company agrees that Milestone shall be entitled to deduct the Deal Expenses from the aggregate Purchase Price payable by Milestone for its
Series A Shares. 
 9.16 Termination. This Agreement may be terminated by the Investors or the Company on or after June 1, 2006,
by written notice to the other party, if the Initial Closing has not occurred on or prior to such date. Such termination under this Section 9.16 shall be without prejudice to any claims for damages or other remedies that the parties may have
under this Agreement or applicable law. 
 9.17 Specific Performance. Each of the Parties recognizes and acknowledges that a breach by
it of any covenants or agreements contained in this Agreement will cause the other party to sustain damage for which it would not have an adequate remedy at law for money damages, and therefore each of the Parties agrees that in the event of any
such breach the aggrieved party shall be entitled to the remedy of specific performance of such covenants and agreements and injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity.

 9.18 Conflicts Between Different Translations. This Agreement shall be executed in English and, in the event of any conflict
between the English language version of this Agreement and any translation of this Agreement into a language other than English, such English language version shall prevail, except with respect of any disclosure schedules to this Agreement, which
may be provided in Chinese in whole or in part and shall not be translated into English. 
  

 25 

 9.19 Restatement of Prior Agreement. The parties to this Agreement, pursuant to Section 9.7
of the Prior Agreement and on behalf of all parties to the Prior Agreement, hereby agree that this Agreement shall amend, restate, and supersede the Prior Agreement in all respects. 
 [Signature Page Follows] 
  

 26 

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives to duly
execute this Agreement as of the date and year first above written. 
  

			
	COMPANY:
	
	TRINA SOLAR ENERGY HOLDING LIMITED CO.
		
	By:	 	 /s/ Gao Jifan

	Name:	 	Gao Jifan
	Title:	 	Director
	
	WFOE:
	
	CHANGZHOU TRINA SOLAR ENERGY CO., LTD.
		
	By:	 	 /s/ Gao Jifan

	Name:	 	Gao Jifan
	Title:	 	LEGAL REPRESENTATIVE

 [SIGNATURE PAGE OF AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT]

  

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives to duly execute this
Agreement as of the date and year first above written. 
  

			
	THE FOUNDERS:
	
	GAO Jifan
		
	By:	 	 /s/ Gao Jifan

	
	WU Chunyan
		
	By:	 	 /s/ WU Chunyan

	
	TRINA INTERNATIONAL INVESTMENT CO., LTD.
		
	By:	 	 /s/ Gao Jifan

	Name:	 	Gao Jifan
	Title:	 	Director
	
	 PERSEVERANCE INTERNATIONAL
 INVESTMENT CO.,
LTD.

		
	By:	 	 /s/ Wu Chunyan

	Name:	 	Wu Chunyan
	Title:	 	Director

 [SIGNATURE PAGE OF AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT]

 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives to duly
execute this Agreement as of the date and year first above written. 
  

			
	THE INVESTORS:
	
	INDOPARK HOLDINGS LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	MILESTONE SOLAR HOLDINGS I LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	MILESTONE SOLAR HOLDINGS II LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	TRIUMPH SKY TECHNOLOGY LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	ACCURATE GROUP HOLDINGS LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	VDCI SA
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

 [SIGNATURE PAGE OF AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT]

			
	THE INVESTORS:
	
	IPROP HOLDINGS LIMITED
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	REALM INVESTMENTS LIMITED
		
	By:	 	 /s/ John Hammill

	Name:	 	John Hammill
	Title:	 	Director
		
	By:	 	 /s/ Sven Hansen

	Name:	 	Sven Hansen
	Title:	 	Authorized Signatories

 [SIGNATURE PAGE OF AMENDED AND RESTATED SERIES A PREFERRED SHARE PURCHASE AGREEMENT]

 LIST OF EXHIBITS 
  

			
	Exhibit A-1	 	Schedule of Investors
		
	Exhibit A-2	 	Shareholders and Persons Holding Options, Warrants, etc. as of the Date Hereof
		
	Exhibit A-3	 	Shareholders and Persons Holding Options, Warrants, etc. Immediately After Share Split but Prior to Initial Closing
		
	Exhibit A-4	 	Shareholders and Persons Holding Options, Warrants, etc. Immediately Upon Initial Closing
		
	Exhibit A-5	 	Shareholders and Persons Holding Options, Warrants, etc. Immediately Upon First Subsequent Closing
		
	Exhibit A-6	 	Series A Shares to be Sold at First Subsequent Closing and any Additional Subsequent Closings
		
	Exhibit B-1	 	First Amended and Restated Memorandum and Articles of Association
		
	Exhibit B-2	 	Second Amended and Restated Memorandum and Articles of Association
		
	Exhibit C	 	Disclosure Schedule
		
	Exhibit D	 	Shareholders Agreement
		
	Exhibit E	 	Key Officers and Employees
		
	Exhibit F	 	Notice
		
	Exhibit G	 	List of Intellectual Property Rights to be Transferred from Gao Jifan to WFOE

 EXHIBIT A-1 
 Schedule of Investors 
 Milestone Solar Holdings I Limited 
 Company no.: 1020560 
 Registered address: P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin
Islands 
 Milestone Solar Holdings II Limited 
 Company
no.: 1020561 
 Registered address: P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 
 Triumph Sky Technology Limited 
 Company no.: 1013001 
 Registered address: P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 
 Accurate Group Holdings Limited 
 Company no.: 587612 
 Registered address: P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 
 Indopark Holdings Limited 
 Company no.: 57270 
 Registered address: c/o DTOS Ltd, 4th Floor, IBL House, Caudan, Port Louis, Republic of Mauritius 
 VDCI S.A. 
 Company no.: B 70292 
 Registered address: 35, boulevard Prince Henri, L-1724 Luxembourg 
 IPROP Holdings Limited 
 Company no.: not applicable 
 Registered address: P. O. Box 662, Citco
Building, Wickhams Cay, Road Town, Tortola, British Virgin Islands 
 Realm Investments Limited 
 Company no.: 90670 
 Registered address: 3rd Floor, Britannic House, 9 Hope
Street, St Helier, Jersey, Channel Islands, JE2 3NS 
  

 EXHIBIT A-2 
 SHAREHOLDERS AND PERSONS HOLDING OPTIONS, WARRANTS, ETC. AS OF THE DATE HEREOF 
  

					
	 Investor
	  	Ordinary Shares	  	Total Issued
Shares
	 Sino Base Investment Co Ltd
	  	1,896	  	1,896
	 Trina International Investment Limited
	  	3,248	  	3,248
	 Divine Land International Investment Limited
	  	1,896	  	1,896
	 Perseverance International Investment Limited
	  	1,064	  	1,064
	 South Great Investment Limited
	  	1,896	  	1,896
		  	 	  	 
	 Total:
	  	10,000	  	10,000
		  	 	  	 

 EXHIBIT A-3 
 SHAREHOLDERS AND PERSONS HOLDING OPTIONS, WARRANTS, ETC. 
 IMMEDIATELY AFTER SHARE SPLIT BUT PRIOR
TO INITIAL CLOSING 
  

					
	 Investor
	  	Ordinary Shares	  	Total Issued
Shares
	 Sino Base Investment Co Ltd
	  	189,600,000	  	189,600,000
	 Trina International Investment Limited
	  	324,800,000	  	324,800,000
	 Divine Land International Investment Limited
	  	189,600,000	  	189,600,000
	 Perseverance International Investment Limited
	  	106,400,000	  	106,400,000
	 South Great Investment Limited
	  	189,600,000	  	189,600,000
	 ESOP
	  	52,631,579	  	52,631,579
		  	 	  	 
	 Total:
	  	1,052,631,579	  	1,052,631,579
		  	 	  	 

 EXHIBIT A-4 
 SHAREHOLDERS AND PERSONS HOLDING OPTIONS, WARRANTS, ETC. 
 IMMEDIATELY UPON INITIAL CLOSING

  

							
	 Investor
	  	Ordinary Shares	  	Series A Preferred
Shares	  	Total Issued
Shares
	 Sino Base Investment Co Ltd
	  	189,600,000	  		  	189,600,000
	 Trina International Investment Limited
	  	324,800,000	  		  	324,800,000
	 Divine Land International Investment Limited
	  	189,600,000	  		  	189,600,000
	 Perseverance International Investment Limited
	  	106,400,000	  		  	106,400,000
	 South Great Investment Limited
	  	189,600,000	  		  	189,600,000
	 ESOP
	  	52,631,579	  		  	52,631,579
	 Milestone Solar Holdings I Limited
	  		  	68,226,121	  	68,226,121
	 Indopark Holdings Limited
	  		  	136,452,242	  	136,452,242
		  	 	  	 	  	 
	 Total:
	  	1,052,631,579	  	204,678,363	  	1,257,309,942
		  	 	  	 	  	 

 EXHIBIT A-5 
 SHAREHOLDERS AND PERSONS HOLDING OPTIONS, WARRANTS, ETC. 
 IMMEDIATELY UPON FIRST SUBSEQUENT CLOSING

  

							
	 Investor
	  	Ordinary Shares	  	Series A Preferred
Shares	  	Total Issued
Shares
	 Sino Base Investment Co Ltd
	  	189,600,000	  		  	189,600,000
	 Trina International Investment Limited
	  	324,800,000	  		  	324,800,000
	 Divine Land International Investment Limited
	  	189,600,000	  		  	189,600,000
	 Perseverance International Investment Limited
	  	106,400,000	  		  	106,400,000
	 South Great Investment Limited
	  	189,600,000	  		  	189,600,000
	 ESOP
	  	52,631,579	  		  	52,631,579
	 Milestone Solar Holdings I Limited
	  		  	136,452,242	  	136,452,242
	 Milestone Solar Holdings II Limited
	  		  	13,645,225	  	13,645,225
	 VDCI SA
	  		  	20,467,836	  	20,467,836
	 IPROP Holdings Limited
	  		  	20,467,836	  	20,467,836
	 Triumph Sky Technology Limited
	  		  	68,226,121	  	68,226,121
	 Accurate Group Holdings Limited
	  		  	13,645,224	  	13,645,224
	 Indopark Holdings Limited
	  		  	136,452,242	  	136,452,242
	 Realm Investments Limited
	  		  	136,452,242	  	136,452,242
		  	 	  	 	  	 
	 Total:
	  	1,052,631,579	  	545,808,968	  	1,598,440,547
		  	 	  	 	  	 

 EXHIBIT A-6 
 SERIES A SHARES TO BE SOLD AT FIRST SUBSEQUENT CLOSING AND ANY 
 ADDITIONAL SUBSEQUENT CLOSINGS

  

			
	 Name of Investor
	  	Number of Series A Shares
	 Milestone Solar Holdings I Limited
	  	68,226,121
	 Milestone Solar Holdings II Limited
	  	13,645,225
	 VDCI SA
	  	20,467,836
	 IPROP Holdings Limited
	  	20,467,836
	 Triumph Sky Technology Limited
	  	68,226,121
	 Accurate Group Holdings Limited
	  	13,645,224
	 Realm Investments Limited
	  	136,452,242
		  	 
	 Total
	  	341,130,605
		  	 

 EXHIBIT B-1 
 First Amended and Restated Memorandum and Articles of Association 

 EXHIBIT B-2 
 Second Amended and Restated Memorandum and Articles of Association 
 [Please see Exhibit 3.1 to the
Form F-1 Registration Statement] 

 EXHIBIT C 
 Disclosure Schedule 

 EXHIBIT D 
 Shareholders Agreement 
 [Please see Exhibit 4.6 to the Form F-1 Registration Statement] 

 EXHIBIT E 
 Key Officers and Employees 
  

	
	Gao Jifan    

	
	Wu Chunyan    

	
	Fang Dacheng    

	
	Zhang Yinhua    

	
	Zhu Yu    

	
	Gao Jiqing    

	
	Zhou Mingyang    

	
	Qiu Diming    

	
	Wu Hua    

	
	Sheng Jianming    

	
	Tan Jianlin    

 EXHIBIT F 
 Notices 
 To the Company, the WFOE or any of the Founders: 
 Ms. Hua Wu 
 Changzhou Trina Solar Energy
Co., Ltd. 
 No. 2 Xin Yuan Yi Road 
 Electronic Park 
 New District 
 Chang Zhou City 213031, China 
 Fax: 86 519 548 5869 
 To Milestone: 
 Mr. Liping Qiu 
 Unit A 904-905, Huixin Plaza 
 No. 8
Beichen Road, Chaoyang District 
 Beijing 100101, China 
 Fax: 86 10 8497 1449 
 To Indopark: 
 c/o Mr. David J. Lee 
 Merrill Lynch (Asia Pacific) Limited 
 17/F ICBC Tower 
 3 Garden Road, Central

 Hong Kong 
 Fax: 852 2161 7148

 To Realm Investments Limited: 
 Mr. John
Hammill 
 9 Hope Street, St. Helier 
 Jersey, Channel Islands 
 JE2 3NS 
 Fax: 44 1534 754 510 
 To IPROP Holdings Limited: 
 Alan Grieve 
 c/o V & R Managament
Services AG 
 Hinterbergstrasse 22 
 CH6330 Cham 
 Switzerland 
 Fax: + 41 727 2356 
 To VDCI SA: 
 Alan
Grieve 
 c/o Richemont Luxury Group SA 
 35 boulevard Prince Henri 
 L1724 Luxembourg 
 Fax: +352 22 4219 

 EXHIBIT G 
 List of Intellectual Property Rights to be Transferred from Gao Jifan to WFOE 

 AMENDED AND RESTATED APRIL 28, 2006 
 THE COMPANIES LAW (REVISED) 
 OF THE CAYMAN ISLANDS 
 COMPANY LIMITED BY SHARES 
 FIRST
AMENDED AND RESTATED MEMORANDUM OF ASSOCIATION 
 OF 
 TRINA SOLAR ENERGY HOLDING LIMITED CO. 
  

	1.	Name 

 The name of the Company is Trina Solar Energy
Holding Limited Co. (the “Company”). 
  

	2.	Registered Office 

 The Registered Office of the
Company shall be at the offices of Corporate Filing Services Limited, 4th Floor, Harbour Centre, P.O. Box 613, Geroge Town, Grand Cayman, Cayman Islands, British West Indies or at such other place as the Board of Directors of the Company (the
“Board”) may from time to time decide. 
  

	3.	General Objects 

 The objects for which the Company
is established are unrestricted and shall include, without limitation, the following: 
  

	 	(i)    (a)	To carry on the business of an investment company and to act as promoters and entrepreneurs and to carry on business as financiers, capitalists, concessionaires, merchants, brokers,
traders, dealers, agents, importers and exporters and to undertake and carry on and execute all kinds of investment, financial, commercial, mercantile, trading and other operations. 

  

	 	(b)	To carry on whether as principals, agents or otherwise howsoever the business of making and holding all legal investments. 

  

	 	(ii)	 To exercise and enforce all rights and powers conferred by or incidental to the ownership of any shares, stock, obligations or other securities including without
prejudice to the generality of the foregoing all such powers of veto or control as may 

	 	 
be conferred by virtue of the holding by the Company of some special proportion of the issued or nominal amount thereof, to provide managerial and other
executive, supervisory and consultant services for or in relation to any company in which the Company is interested upon such terms as may be thought fit. 

  

	 	(iii)	To purchase or otherwise acquire, to sell, exchange, surrender, lease, mortgage, charge, convert, turn to account, dispose of and deal with real and personal property and rights of
all kinds and, in particular, mortgages, debentures, produce, concessions, options, contracts, patents, annuities, licenses, stocks, shares, bonds, policies, book debts, business concerns, undertakings, claims, privileges and choses in action of all
kinds. 

  

	 	(iv)	To subscribe for, conditionally or unconditionally, to underwrite, issue on commission or otherwise, take, hold, deal in and convert stocks, shares and securities of all kinds and
to enter into partnership or into any arrangement for sharing profits, reciprocal concessions or cooperation with any person or company and to promote and aid in promoting, to constitute, form or organize any company, syndicate or partnership of any
kind, for the purpose of acquiring and undertaking any property and liabilities of the Company or of advancing, directly or indirectly, the objects of the Company or for any other purpose which the Company may think expedient.

  

	 	(v)	To stand surety for or to guarantee, support or secure the performance of all or any of the obligations of any person, firm or company whether or not related or affiliated to the
Company in any manner and whether by personal covenant or by mortgage, charge or lien upon the whole or any part of the undertaking, property and assets of the Company, both present and future, including its uncalled capital or by any such method
and whether or not the Company shall receive valuable consideration therefor. 

  

	 	(vi)	To engage in or carry on any other lawful trade, business or enterprise which may at any time appear to the Board capable of being conveniently carried on in conjunction with any of
the aforementioned businesses or activities or which may appear to the Board likely to be profitable to the Company. 

 In the
interpretation of this First Amended and Restated Memorandum of Association, as it may be amended from time to time (the “Memorandum of Association”) in general and of this Article 3 in particular no object, business or power
specified or mentioned shall be limited or restricted by reference to or inference from any other object, business or power, or the name of the Company, or by the juxtaposition of two or more objects, businesses or powers and that, in the event of
any ambiguity in this clause or elsewhere in this Memorandum of Association, the same shall be resolved by such interpretation and construction as will widen and enlarge and not restrict the objects, businesses and powers of and exercisable by the
Company. 
  

 2 

	4.	General Power 

 Except as prohibited or limited by
the Companies Law (2004 Revision), the Company shall have full power and authority to carry out any object and shall have and be capable of from time to time and at all times exercising any and all of the powers at any time or from time to time
exercisable by a natural person or body corporate in doing in any part of the world whether as principal, agent, contractor or otherwise whatever may be considered by it necessary for the attainment of its objects and whatever else may be considered
by it as incidental or conducive thereto or consequential thereon, including, but without in any way restricting the generality of the foregoing, the power to make any alterations or amendments to this Memorandum of Association and the First Amended
and Restated Articles of Association of the Company (the “Articles of Association”) considered necessary or convenient in the manner set out in the Articles of Association of the Company, and the power to do any of the
following acts or things, viz: 
 to pay all expenses of and incidental to the promotion, formation and incorporation of the Company; to
register the Company to do business in any other jurisdiction; to sell, lease or dispose of any property of the Company; to draw, make, accept, endorse, discount, execute and issue promissory notes, debentures, bills of exchange, bills of lading,
warrants and other negotiable or transferable instruments; to lend money or other assets and to act as guarantors; to borrow or raise money on the security of the undertaking or on all or any of the assets of the Company including uncalled capital
or without security; to invest monies of the Company in such manner as the Board determines; to promote other companies; to sell the undertaking of the Company for cash or any other consideration; to distribute assets in specie to members of the
Company (the “Members”); to make charitable or benevolent donations; to pay pensions or gratuities or provide other benefits in cash or kind to the Board, officers, employees, past or present and their families; to purchase
Directors and officers liability insurance and to carry on any trade or business and generally to do all acts and things which, in the opinion of the Company or the Board, may be conveniently or profitably or usefully acquired and dealt with,
carried on, executed or done by the Company in connection with the business aforesaid PROVIDED THAT the Company shall only carry on the businesses for which a license is required under the laws of the Cayman Islands when so licensed under the terms
of such laws. 
  

	5.	Limited Liability 

 The liability of each Member is
limited to the amount from time to time unpaid on such Member’s shares. 
  

	6.	Share Capital 

  

	6.1	Currency. Shares in the Company shall be issued in the currency of the United States of America. 

  

 3 

 6.2 Authorized Capital. The authorized capital of the Company is US$50,000, divided into two classes of shares, to
be designated “Ordinary Shares” and “Preferred Shares” as follows: 
  

	 	(a)	4,590,643,274 Ordinary Shares in one series of US$ 0.00001 par value (“Ordinary Shares”); and 

  

	 	(b)	409,356,726 Preferred Shares, of which all shall be designated Series A Preferred Shares, US$ 0.00001 par value per share (the “Series A Preferred Shares” or
the “Preferred Shares”). 

 For purposes of this Memorandum of Association, “Ordinary Share
Equivalent” shall mean any share or security convertible or exchangeable solely for Ordinary Shares or any option, warrant or right exercisable solely for Ordinary Shares. 
  

	7.	Rights, Qualifications of Preferred Shares. 

 The
designations, powers, preferences, rights, qualifications, limitations and restrictions applicable to the Preferred Shares shall be as follows: 
  

	7.1	Conversion. The holders of the Preferred Shares shall have conversion rights as follows (the “Conversion Rights”): 

  

	 	7.1.1	Right to Convert. Each Preferred Share, at the option of the holder thereof, shall be convertible into Ordinary Shares at any time after the date of issuance of such
Preferred Share, at the office of the Company or any transfer agent for such Preferred Share. 

  

	 	7.1.2	Automatic Conversion. Each Preferred Share shall automatically be converted into Ordinary Shares, without further action of the holder thereof or the Company, upon occurrence
of the closing of the initial firm commitment underwritten public offering by the Company of Ordinary Shares on a public stock exchange in the United States, pursuant to an effective registration statement under the United States Securities Act of
1933, as amended, or a substantially equivalent transaction in a jurisdiction other than the United States, resulting in actual proceeds received by the Company of at least US$ 30 million, and a total market capitalization of the Company,
immediately following the consummation of such offering, of at least US$150,000,000 (a “Qualified Public Offering”). In such event, the Preferred Shares shall be deemed to have been so converted as of the closing of such
Qualified Public Offering, as such closing is defined in the underwriting agreement between the Company and the underwriters with respect to such Qualified Public Offering. 

  

	 	7.1.3	Mechanics of Conversion. The conversion hereunder of any Preferred Share (a “Conversion Share”) pursuant to Section 7.1.4 shall be effected in
the following manner: 

  

 4 

	 	(a)	The Company shall redeem the Conversion Share for aggregate consideration (the “Redemption Amount”) equal to (a) the aggregate par value of any capital
shares of the Company to be issued upon such conversion and (b) the aggregate value, as determined by the Board, of any other assets which are to be distributed upon such conversion. 

  

	 	(b)	Concurrent with the redemption of the Conversion Share, the Company shall apply the Redemption Amount for the benefit of the holder of the Conversion Share to pay for any capital
shares of the Company issuable, and any other assets distributable, to such holder in connection with such conversion. 

  

	 	(c)	Upon application of the Redemption Amount, the Company shall issue to the holder of the Conversion Share all capital shares issuable, and distribute to such holder all other assets
distributable, upon such conversion. 

  

	 	(d)	Except as provided in Section 7.1.2, before any holder of Preferred Shares shall be entitled to convert the same into Ordinary Shares, such holder shall surrender the
certificate or certificates therefor, duly endorsed, at the office of the Company or of any transfer agent for the Preferred Shares, and shall give written notice by mail, postage prepaid, to the Company at its principal corporate office, of the
election to convert the same and shall state therein the name or names in which the certificate or certificates for Ordinary Shares are to be issued. The Company shall, as soon as practicable thereafter, issue and deliver at such office to such
holder of Preferred Shares, or to the nominee or nominees of such holder, a certificate or certificates for the number of Ordinary Shares to which such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made
immediately prior to the close of business on the date of such surrender of the Preferred Shares to be converted, and the person or persons entitled to receive the Ordinary Shares issuable upon such conversion shall be treated for all purposes as
the record holder or holders of such Ordinary Shares as of such date. 

  

	 	7.1.4	Number of Ordinary Shares Issuable on Conversion; Conversion Price. 

  

	 	(a)	Conversion. 

  

	 	(i)	Series A Preferred Shares. Upon conversion, each Series A Preferred Share shall be exchanged in accordance with the provisions of Section 7.1.3 for such number of fully
paid and nonassessable Ordinary Shares as is determined by dividing US$0.0732857 per share (the “Series A Preferred Shares Stated Value”) by the conversion price at the time in effect for such share. The initial conversion
price for the Series A Preferred Shares shall be US$0.0732857 per share (the “Series A Conversion Price” or the “Conversion Price”) and shall be subject to adjustment as set forth in this
Section 7.1.4. 

  

 5 

	 	(b)	Conversion Price Adjustments. The Series A Conversion Price shall be subject to adjustment from time to time as follows: 

  

	 	(i)	Adjustment for Share Splits and Combinations. If the Company shall at any time, or from time to time, effect a subdivision of the outstanding Ordinary Shares, the Series A
Conversion Price in effect immediately prior to such subdivision shall be proportionately decreased. Conversely, if the Company shall at any time, or from time to time, combine the outstanding Ordinary Shares into a smaller number of shares, the
Series A Conversion Price in effect immediately prior to the combination shall be proportionately increased. Any adjustment under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes
effective. 

  

	 	(ii)	Adjustment for Ordinary Share Dividends and Distributions. If the Company makes (or fixes a record date for the determination of Members of the Company entitled to receive) a
dividend or other distribution to the holders of the Company’s shares payable in additional Ordinary Shares, the Series A Conversion Price shall be decreased as of the time of such issuance (or in the event such record date is fixed, as of the
close of business on such record date) by multiplying the Series A Conversion Price then in effect by a fraction (x) the numerator of which is the total number of Ordinary Shares issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date, and (y) the denominator of which is the total number of Ordinary Shares issued and outstanding immediately prior to the time of such issuance or the close of business on such record date
plus the number of Ordinary Shares issuable in payment of such dividend or distribution. 

  

	 	(iii)	Reorganizations, Mergers, Consolidations, Reclassifications, Exchanges, Substitutions. If at any time, or from time to time, any capital reorganization or reclassification of
the Ordinary Shares (other than as a result of a share dividend, subdivision, split or combination otherwise treated above) occurs or the Company is consolidated, merged or amalgamated with or into another person, then in any such event, provision
shall be made so that, upon conversion of such Preferred Shares thereafter, the holder thereof shall receive the kind and amount of shares and other securities and property which the holder of shares of such Preferred Shares would have received had
such Preferred Shares been converted into Ordinary Shares on the date of such event, all subject to further adjustment as provided herein, or with respect to such other securities or property, in accordance with any terms applicable thereto.

  

 6 

	 	(iv)	Sale of Shares Below the Conversion Price. 

  

	 	(A)	If at any time, or from time to time, the Company shall issue or sell Additional Ordinary Shares without consideration or for a consideration per share less than the Series A
Conversion Price in effect immediately prior to such issue, then, and in each such case, the Series A Conversion Price shall be reduced, as of the opening of business on the date of such issuance or sale, to a price equal to the price of such
Additional Ordinary Shares. 

  

	 	(B)	For the purpose of making any adjustment in the Conversion Price or number of Ordinary Shares issuable upon conversion of the Series A Preferred Shares, as provided above:

  

	 	(I)	To the extent it consists of cash, the consideration received by the Company for any issue or sale of securities shall be computed at the net amount of cash received by the Company
after deduction of any expenses payable directly or indirectly by the Company and any underwriting or similar commissions, compensations, discounts or concessions paid or allowed by the Company in connection with such issue or sale;

  

	 	(II)	To the extent it consists of property other than cash, consideration other than cash received by the Company for any issue or sale of securities shall be computed at the fair market
value thereof, as determined in good faith by the Board (including both of the Series A Directors) as of the date of the adoption of the resolution specifically authorizing such issue or sale, irrespective of any accounting treatment of such
property; and 

  

	 	(III)	If Additional Ordinary Shares or Ordinary Share Equivalents exercisable, convertible or exchangeable for Additional Ordinary Shares are issued or sold together with other stock or
securities or other assets of the Company for consideration which covers both, the consideration received for the Additional Ordinary Shares or Ordinary Share Equivalents shall be computed as that portion of the consideration received which is
reasonably determined in good faith by the Board (including both of the Series A Directors) to be allocable to such Additional Ordinary Shares or Ordinary Share Equivalents. 

  

 7 

	 	(C)	If at any time, or from time to time, the Company issues any Ordinary Share Equivalents and the Effective Conversion Price of such Ordinary Share Equivalents is less than the Series
A Conversion Price in effect immediately prior to such issuance, then, in each such case, at the time of such issuance the Company shall be deemed to have issued the maximum number of Additional Ordinary Shares issuable upon the exercise, conversion
or exchange of such Ordinary Share Equivalents and to have received in consideration for each Additional Ordinary Share deemed issued an amount equal to the Effective Conversion Price. 

  

	 	(I)	If any right to exercise, convert or exchange any Ordinary Share Equivalents shall expire without having been fully exercised, the Series A Conversion Price as adjusted upon the
issuance of such Ordinary Share Equivalents shall be readjusted to the Series A Conversion Price which would have been in effect had such adjustment been made on the basis that (A) the only Additional Ordinary Shares to be issued on such
Ordinary Share Equivalents were such Additional Ordinary Shares, if any, as were actually issued or sold in the exercise, conversion or exchange of any part of such Ordinary Share Equivalents prior to the expiration thereof and (B) such
Additional Ordinary Shares, if any, were issued or sold for (x) the consideration actually received by the Company upon such exercise, conversion or exchange, plus (y) where the Ordinary Share Equivalents consist of options, warrants or
rights to purchase Ordinary Shares, the consideration, if any, actually received by the Company for the grant of such Ordinary Share Equivalents, whether or not exercised, plus (z) where the Ordinary Share Equivalents consist of shares or
securities convertible or exchangeable for Common Shares, the consideration received for the issue or sale of Ordinary Share Equivalents actually converted. 

  

 8 

	 	(II)	For any Ordinary Share Equivalent with respect to which the Series A Conversion Price has been adjusted under this paragraph (C), no further adjustment of the Series A Conversion
Price shall be made solely as a result of the issuance of Ordinary Shares upon the actual exercise or conversion of such Ordinary Share Equivalent. 

  

	 	(D)	In the event of any increase in the number of Ordinary Shares deliverable or any reduction in consideration payable upon exercise, conversion or exchange of any Ordinary Share
Equivalents where the resulting Effective Conversion Price is less than the Series A Conversion Price at such date, including, but not limited to, a change resulting from the antidilution provisions thereof, the Series A Conversion Price shall be
recomputed to reflect such change as if, at the time of issue for such Ordinary Share Equivalent, such Effective Conversion Price applied. 

  

	 	(E)	For purposes of this Memorandum of Association, “Effective Conversion Price” means, with respect to any Ordinary Share Equivalent at a given time, an amount
equal to the quotient of (x) the sum of any consideration, if any, received by the Company with respect to the issuance of such Ordinary Share Equivalent and the lowest aggregate consideration receivable by the Company, if any, upon the
exercise, exchange or conversion of the Ordinary Share Equivalent over (y) the number of Ordinary Shares issuable upon the exercise, conversion or exchange of the Ordinary Share Equivalent. 

  

	 	(F)	For purposes of this Memorandum of Association, “Additional Ordinary Shares” means any Ordinary Shares issued by the Company (or deemed issued by the
Company under Section 7.1.4 (b)(iv)(C) hereof) other than: 

  

	 	  	(i) Up to 52,631,579 (or such greater number as is approved by the Board of Directors (including the Series A Directors) Ordinary Shares (as adjusted for any share dividends,
combinations reclassifications or splits with respect to such Ordinary Shares and the like) issued, or issued or issuable, upon exercise of any Ordinary Share Equivalent issued under employee share option plan(s) duly adopted by the Board;

  

	 	  	(ii) upon conversion of the Preferred Shares; 

  

 9 

	 	  	(iii) to financial institutions or lessors in connection with real estate leases, commercial credit arrangements, equipment financings or similar transactions approved by a majority
of the Board (including both of the Series A Directors) where the primary purpose of the arrangement is for non-equity financing; 

  

	 	  	(iv) pursuant to a strategic partnership, joint venture or other arrangement approved by a majority of the Board (including both of the Series A Directors) where the primary purpose
of the arrangement is for non-equity financing; 

  

	 	  	(v) as a dividend or distribution on the Preferred Shares or any event for which adjustment is made pursuant to Section 7.1.4 (b)(ii) hereof; 

  

	 	  	(vi) pursuant to a stock split or other similar reorganization for which adjustment is made pursuant to Section 7.1.4 (b)(i) hereof; 

  

	 	  	(vii) for consideration other than cash pursuant to a merger, consolidation, acquisition, or similar business combination approved by a majority of the Board (including both of the
Series A Directors); 

  

	 	  	(viii) pursuant to a registered public offering of the Company’s Ordinary Shares; or 

  

	 	  	(ix) pursuant to a vote of the holders of a majority of then outstanding Preferred Shares, voting together as a single class and on an as-converted basis, that such shares shall not
be deemed “Additional Ordinary Shares”. 

  

	 	(v)	 2006 Performance-Based Adjustment to the Series A Conversion Price. Upon the final delivery, which shall not be later than March 31, 2007, to the
Company of the audited consolidated or combined financial statements of the Company and its subsidiaries for the fiscal year ending on December 31, 2006, prepared in accordance with IAS consistently applied and audited and certified by a firm
of independent certified public accountants of recognized international standing and reputation (the “2006 Account”): if the consolidated after-tax net earnings as indicated in the 2006 Account (the “Actual 2006
Earnings”) is less than US$14,250,000, then the Series A Conversion Price, effective as of December 31, 2006, shall be reduced to an amount equal to US$0.0732857 per share multiplied by a fraction, (x) the numerator of which
shall be the Actual 2006 Earnings, and (y) the denominator of which shall be $15,000,000 (the 

  

 10 

	 	 
“2006 Earnings Adjustment Conversion Price”); provided, however, that in no event shall the 2006 Earnings Adjustment
Conversion Price be less than US$0.0523469 per share (the “2006 Earnings Capped Conversion Price”); provided further that if the Actual 2006 Earnings is negative, the 2006 Earning Adjustment Conversion Price shall be
equal to the 2006 Earning Capped Conversion Price; provided further, however, that, notwithstanding the foregoing, if the Series A Conversion Price in effect as of December 31, 2006 is less than 2006 Earnings Adjustment Conversion
Price, then the Series A Conversion Price shall not change as a result of this Section 7.1.4(b)(v). 

  

	 	(vi)	In case any event shall occur as to which the other provisions of this paragraph (b) are not strictly applicable but the failure to make any adjustment would not fairly protect
the Conversion Rights of any Series A Preferred Shares against dilution in accordance with the essential intent and principles of this paragraph (b), then, in each such case, the Company, in good faith, shall determine the appropriate adjustment to
be made, on a basis consistent with the essential intent and principles established in this paragraph (b) necessary to preserve, without dilution, the Conversion Rights of such Series A Preferred Shares. 

  

	 	7.1.5	Certificate of Adjustment. In the case of any adjustment or readjustment of the Conversion Price for the Series A Preferred Shares, the Company, at its sole expense, shall
compute such adjustment or readjustment in accordance with the provisions hereof and prepare a certificate showing such adjustment or readjustment, and shall mail such certificate, by first class mail, postage prepaid, to each registered holder of
Series A Preferred Shares at the holder’s address as shown in the Company’s books. The certificate shall set forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based, including
a statement of (i) the consideration received or deemed to be received by the Company for any Additional Ordinary Shares issued or sold or deemed to have been issued or sold, (ii) the number of Additional Ordinary Shares issued or sold or
deemed to be issued or sold, (iii) the Series A Conversion Price in effect after such adjustment or readjustment, and (iv) the number of Ordinary Shares and the type and amount, if any, of other property which would be received upon
conversion of the Series A Preferred Shares after such adjustment or readjustment. 

  

	 	7.1.6	 Notice of Record Date. In the event the Company shall propose to take any action of the type or types requiring an adjustment to the Series A Conversion
Price or the number or character of such Series A Preferred Shares as set forth herein, the Company shall give notice to the holders of the Series A Preferred Shares, which notice shall specify 

  

 11 

	 	 
the record date, if any, with respect to any such action and the date on which such action is to take place. Such notice shall also set forth such facts with
respect thereto as shall be reasonably necessary to indicate the effect of such action (to the extent such effect may be known at the date of such notice) on the Series A Conversion Price and the number, kind or class of shares or other securities
or property which shall be deliverable upon the occurrence of such action or deliverable upon the conversion of the Series A Preferred Shares. In the case of any action which would require the fixing of a record date, such notice shall be given at
least 20 days prior to the date so fixed, and in the case of all other actions, such notice shall be given at least 30 days prior to the taking of such proposed action. Any notice required by the provisions of this Section 7.1.6 to be given to
the holders of Series A Preferred Shares shall be deemed given if deposited in the mail, postage prepaid, and addressed to each holder of record at such holder’s address appearing on the books of the Company. 

  

	 	7.1.7	Fractional Shares. No fractional Ordinary Shares shall be issued upon conversion of any Preferred Share. All Ordinary Shares (including fractions thereof) issuable upon
conversion of more than one Preferred Share by a holder thereof shall be aggregated for purposes of determining whether the conversion would result in the issuance of any fractional share. If, after such aggregation, the conversion would result in
the issuance of any fractional share, the Company shall, in lieu of issuing any fractional share, pay cash equal to the product of such fraction multiplied by the fair market value of a Ordinary Share (as determined by the Board) on the date of
conversion. 

  

	 	7.1.8	No Impairment. The Company will not, through any reorganization, recapitalization, transfer of assets, consolidation, merger, amalgamation, scheme of arrangement,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but the Company shall at all times in good faith
assist in the carrying out of all the provisions of this Section 7.1 and in the taking of all such action as may be necessary or appropriate in order to protect the Conversion Rights of the holders of the Preferred Shares against impairment.

  

	7.2	Voting Rights. 

  

	 	7.2.1	General. Each holder of Series A Preferred Shares shall be entitled to such number of votes as equals the whole number of Ordinary Shares into which such holder’s
Series A Preferred Shares are convertible immediately after the close of business on the record date of the determination of the Company’s shareholders entitled to vote or, if no such record date is established, at the date such vote is taken
or any written consent of the Company’s shareholders is first solicited. Except as otherwise provided herein, in the First Amended and Restated Articles of Association of the Company, as required by law, or as otherwise agreed by the Members of
the Company, the holders of Series A Preferred Shares shall vote together with the holders of Ordinary Shares, and not as a separate class or series, on all matters put before the Members of the Company. 

  

 12 

	 	7.2.2	Election of Board of Directors. 

  

	 	(a)	For so long as any Series A Preferred Shares remain outstanding, the holders of Series A Preferred Shares shall be entitled, as a separate class, to elect two (2) Directors
(the “Series A Directors”) at a general meeting or pursuant to any written consent signed by the holders of no less than fifty-one percent (51%) of then outstanding Series A Preferred Shares; provided that so long as
Milestone Solar Holdings I Limited, Milestone Solar Holdings II Limited, Triumph Sky Technology Limited, Accurate Group Holdings Limited or any of their affiliates shall hold any Series A Preferred Shares, it shall be entitled to appoint one of the
Series A Directors and provided further that so long as Indopark Holdings Limited or any of its affiliates shall hold any Series A Preferred Shares, it shall be entitled to appoint one of the Series A Directors. 

  

	 	(b)	For so long as any Series A Preferred Shares remain outstanding, the holders of outstanding Ordinary Shares shall be entitled to elect, as a separate class, five (5) Directors
(the “Ordinary Share Directors”) at a general meeting or pursuant to any written consent signed by the holders of no less than fifty-one percent (51%) of then outstanding Ordinary Shares. 

  

	 	(c)	For so long as any Series A Preferred Shares remain outstanding, the holders of outstanding Ordinary Shares and Series A Preferred Shares shall be entitled to elect, by voting as a
single class and on an as-converted basis, the remaining three (3) members of the Board at a general meeting or pursuant to any written consent signed by the holders of no less than fifty-one percent (51%) of then outstanding Ordinary
Shares (including Ordinary Shares issued or issuable upon conversion of the Series A Preferred Shares). 

  

	 	(d)	Any Director who shall have been elected by the holders of a class or series of shares or by any Directors so elected as provided in this Section 7.2.2 may be removed, either
with or without cause by, and only by, the affirmative vote of the holders of the shares of the class or series who elected such Director or Directors, given at a general meeting of such members of the Company duly called for that purpose, or
pursuant to any written consent signed by the holders of no less than fifty-one percent (51%) of then outstanding shares of the applicable class or series; and any vacancy thereby created may be filled by the holders of the shares of the
applicable class or series at such general meeting or pursuant to such written consent. 

  

 13 

	 	(e)	In the event of a vacancy in the office of any Director elected by the holders of any class or series, a successor shall be elected to hold office for the unexpired term of such
Director by the holders of shares of such class or series. 

  

	 	7.2.3	Separate Vote of Series A Preferred Shares. For so long as any Series A Preferred Shares remain outstanding, in addition to any other vote or consent required herein or by
law, the affirmative vote at a general meeting by, or the written consent signed by the holders of, no less than an eighty percent (80%) majority of the Ordinary Shares issuable upon conversion of the Series A Preferred Shares then outstanding,
voting together as a single class and to the exclusion of any other class of shares, shall be necessary to effect any of the following actions (whether directly or indirectly, or by merger, amalgamation, consolidation or otherwise) involving the
Company or any Subsidiary (as defined below): 

  

	 	(a)	Any alteration of the rights, powers, preferences or restrictions for the Series A Preferred Shares, or any increase or decrease in the authorized number of Series A Preferred
Shares or Ordinary Shares; 

  

	 	(b)	The creation, issuance, or authorization (by reclassification or otherwise) of any class or series of equity securities, or any additional securities exercisable, convertible or
exchangeable for any equity securities; 

  

	 	(c)	The amendment, alteration, waiver or repeal of any provision of the memorandum of association, articles of association or any other constitutional documents of the Company or any of
its Subsidiaries; 

  

	 	(d)	The merger, amalgamation or consolidation (or other similar transaction) of the Company or any Subsidiary with any party; 

  

	 	(e)	The sale, lease, exchange, transfer, contribution, mortgage, pledge, encumbrance or other disposition of any fixed assets or intangible assets of the Company or any Subsidiary
(whether in an individual transaction or a series of related transactions) where the value of the transaction(s) exceeds US$200,000 (excluding the sale, transfer, or other disposition of inventory by the Company or any Subsidiary in the ordinary
course of business); 

  

	 	(f)	Any filing for any bankruptcy, voluntary dissolution, winding-up, liquidation, recapitalization, reorganization, split-up or spin-off, with respect to the Company or any Subsidiary;

  

	 	(g)	Any appointment or dismissal of the outside independent auditors of the Company or any Subsidiary; 

  

 14 

	 	(h)	Any material change to the Company’s or any Subsidiary’s accounting policies, practices, methods or principles that is not (i) required by applicable regulatory
authorities or (ii) otherwise required to comply with applicable laws, rules and regulations; 

  

	 	(i)	Any material change in the business activities currently engaged by the Company or any Subsidiary; 

  

	 	(j)	The incurrence of any indebtedness or assumption of any financial obligation, or otherwise the issuance, assumption, guarantee or creation of any liability for borrowed money, that
results in a deviation of more than 10% from the planned incurrence of indebtedness amount set forth in the then-current business, financial and operating plan and annual budget plan (collectively, the “Annual Budget Plan”), which
Annual Budget Plan has been approved by the Board of Directors (including both of the Series A Directors); 

  

	 	(k)	Any capital expenditure or any purchase of intangible assets that results in a deviation of more than 5% from the planned capital expenditure or planned purchase of intangible
assets set forth in the Annual Budget Plan; 

  

	 	(l)	Any actual change in expenditures that results in a deviation of more than 10% from the planned expenditures set forth in the Annual Budget Plan; 

  

	 	(m)	Any transaction (or any series of related transactions) with any affiliate that is not (i) in the ordinary course of business and (ii) on an arms-length basis;

  

	 	(n)	Any adoption of, or material amendment to, an employee stock option plan or other similar equity incentive plan; 

  

	 	(o)	Any material change to the compensation and bonus of any executive officer or senior employee of the Company or any Subsidiary; 

  

	 	(p)	Any appointment, nomination, termination or change of the chief executive officer, chief financial officer and chief operating officer (or the equivalent) of the Company or any
Subsidiary; 

  

	 	(q)	The selection of any listing exchange for a registered initial public offering of the shares of the Company and the approval of the valuation of the Company in connection with such
offering as well as the number of shares of the Company to be sold in such offering; 

  

 15 

	 	(r)	Any increase or decrease of the authorized size of the Board; 

  

	 	(s)	Any withdrawal, disbursement, check or draft drawn on the accounts of the Company which are made outside the ordinary course of business and for an amount in excess of US$200,000;

  

	 	(t)	The commencement of any legal action, arbitration, mediation or claims and any decision to settle any lawsuits or claims; or 

  

	 	(u)	The adoption and approval of the Annual Budget Plan. 

  

	 	  	The term “Subsidiary” as used in this Section 7.2 shall mean any entity of which more than 51% of the issued and outstanding share capital or voting
interests is owned, directly or indirectly, by the Company, including, without limitation, Changzhou Trina Solar Energy Co., Ltd. 

  

	 	7.2.4	Governance of Subsidiaries. The Company shall take all steps as are necessary to cause the provisions of this Section 7.2 and Article 69 of the Articles of Association
to apply, mutatis mutandis and to the extent possible under applicable law, to the governance of any Subsidiary, including, without limitation, the composition of the board of directors for any such Subsidiary. 

  

	7.3	Dividend Preference. 

  

	 	7.3.1	Other than an Exempted Distribution, the Company shall not make any distribution (whether in cash or in property) with respect to any Ordinary Share unless a dividend shall first
have been paid with respect to all outstanding Preferred Shares in an amount for each such Preferred Share equal to or greater than the product of (i) the amount of such distribution and (ii) the number of Ordinary Shares into which such
Preferred Share is then convertible. 

  

	 	7.3.2	For purposes of this Section 7.3, “Exempted Distribution” shall mean (i) a dividend payable solely in Ordinary Shares, (ii) the repurchase of
Ordinary Shares at cost from terminated employees, officers or consultants pursuant to contractual arrangements with the Company approved by the Board, (iii) any exercise, conversion or exchange of Ordinary Share Equivalents, and
(iv) repurchase of outstanding securities of the Company that is duly approved by the Board. 

  

	7.4	Liquidation Preference. In the event of any liquidation, dissolution or winding up of the Company, either voluntary or involuntary, distributions to the Members of the
Company shall be made in the following manner: 

  

	 	7.4.1	 Prior and in preference to any distribution of any of the assets or surplus funds of the Company to the holders of the Ordinary Shares or any other class or series
of shares by reason of their ownership of such shares, the holders of the Series A Preferred Shares shall be entitled to receive the amount equal to one hundred percent (100%) of the amount originally paid by the original purchaser thereof (as
recorded in the Company’s registrar of members attached hereto as Exhibit A) for each such share of Series A Preferred Shares then held by them and, in addition, an amount equal to 

  

 16 

	 	 
all declared but unpaid dividends on the Series A Preferred Shares (the “Series A Preference Amount” or the “Preference
Amount”). If upon the occurrence of a liquidation, dissolution or winding up of the Company the assets and funds thus distributed among the holders of the Series A Preferred Shares shall be insufficient to permit the payment to such
holders of the full Preference Amount, then the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the Series A Preferred Shares in proportion to the Series A Preference Amount
that each such holder is otherwise entitled to receive. 

  

	 	7.4.2	After payment has been made to holders of Series A Preferred Shares of the full Series A Preference Amount due pursuant to Section 7.4.1 above, the remaining assets of the
Company available for distribution to Members, if any, shall be distributed to the holders of the Ordinary Shares and the holders of the Series A Preferred Shares on a pro rata basis, based upon the number of shares held by each such holder,
treating for this purpose all such securities as if they have been converted into Ordinary Shares pursuant to the terms of the Memorandum of Association immediately prior to such liquidation, dissolution or winding up of the Company.

  

	 	7.4.3	Each of (i) a consolidation, amalgamation or merger (or other similar transaction) of the Company with or into any other company or companies in which the Members of the
Company do not retain a majority of the voting power in the surviving company or companies, (ii) a sale, conveyance or disposition of all or substantially all of the assets of the Company, or (iii) the exclusive licensing of substantially
all of the Company’s intellectual property rights or intangible assets shall be deemed to be a liquidation, dissolution or winding up within the meaning of this Article 7.4 (excluding any consolidation, amalgamation or merger effected
exclusively to change the domicile of the Company), such that the holders of Series A Preferred Shares and holders of Ordinary Shares shall be paid (unless the Series A Preference Payment is waived by the holders of a majority of the Series A
Preferred Shares outstanding) in cash or in securities received from the acquiring company or companies, or in a combination thereof, at the closing of any such transaction in accordance with Section 7.4.1 and 7.4.2. In the event the
requirements of this Section 7.4.3 are not complied with, the Company shall forthwith either (i) cause such closing to be postponed until such time as the requirements of this Section 7.4.3 have been complied with, or (ii) cancel
such transaction. 

  

	 	7.4.4	Notwithstanding any other provision of this Article 7.4, and subject to any other applicable provisions of this Memorandum of Association and the Articles of Association, the
Company may at any time, out of funds legally available therefor, repurchase Ordinary Shares of the Company issued to or held by employees, officers or consultants of the Company or its subsidiaries upon termination of their employment or services,
pursuant to any agreement providing for such right of repurchase, whether or not dividends on the Series A Preferred Shares shall have been declared and funds set aside therefor and such repurchases shall not be subject to the Series A Preference
Amount. 

  

 17 

	 	7.4.5	In the event the Company proposes to distribute assets other than cash in connection with any liquidation, dissolution or winding up of the Company, the value of the assets to be
distributed to the holder of Preferred Shares and Ordinary Shares shall be determined in good faith by the Board. Any securities not subject to investment letter or similar restrictions on free marketability shall be valued as follows:

  

	 	(a)	If traded on a securities exchange, the value shall be deemed to be the average of the security’s closing prices on such exchange over the thirty (30) day period ending
one (1) day prior to the distribution; 

  

	 	(b)	If traded over-the-counter, the value shall be deemed to be the average of the closing bid prices over the thirty (30) day period ending three (3) days prior to the
distribution; and 

  

	 	(c)	If there is no active public market, the value shall be the fair market value thereof as determined in good faith by the Board. 

  

	 	  	The method of valuation of securities subject to investment letter or other restrictions on free marketability shall be adjusted to make an appropriate discount from the market
value determined as above in clauses (i), (ii) or (iii) to reflect the fair market value thereof as determined in good faith by the Board. The holders of at least a majority of the outstanding Series A Preferred Shares, voting as a single
class, shall have the right to challenge any determination by the Board of fair market value pursuant to this Section 7.4.5, in which case the determination of fair market value shall be made by an independent appraiser selected jointly by the
Board and the challenging parties, the cost of such appraisal to be borne equally by the Company and the challenging parties. 

  

	7.5	Redemption and Repurchase of Shares. Notwithstanding anything to the contrary herein, the redemption of the outstanding Series A Preferred Shares shall be effected as
follows: 

  

	 	7.5.1	At any time commencing on the Redemption Trigger Event (as defined below), at the option of each holder of outstanding Series A Preferred Shares, the Company shall redeem all, but
not less than all, of the outstanding Series A Preferred Shares held by such holder out of funds legally available therefor at a redemption price for each Series A Preferred Share equal to: 

  

	 	   
	 US$[PRICE PER SHARE] x [(115%)N], where 

  

	 	  	N = a fraction the numerator of which is the number of calendar days between the date on which any Series A Shares are first issued and the Redemption Date (as defined in below) and
the denominator of which is 365, 

  

 18 

	 	  	plus all declared but unpaid dividends thereon up to the Redemption Date (as adjusted for any share dividends, combinations, reclassifications or splits with respect to such
Shares and the like) (the “Redemption Price”). 

  

	 	  	For purposes of this Section 7.5.1, a “Redemption Trigger Event” shall be the Company’s receipt from holders of a majority in voting power of the
Series A Preferred Shares then outstanding notifying the Company in writing that such holders have determined that there has been (A) a material breach of any of the warranties, representations, covenants, undertakings, or other obligations of
the Company, the WFOE (as defined below) or the Founder (as defined below) under (i) the Series A Preferred Share Purchase Agreement, dated as of April 28, 2006, among the Company, Changzhou Trina Solar Energy Co., Ltd.
(“WFOE”), Mr. Gao Jifan (the “Founder”) and the investors party thereto from time to time, (ii) the Shareholders Agreement, dated as of April 28, 2006, among the Company, the WFOE, the
Founder and the shareholders party thereto from time to time, (iii) this Memorandum of Association or (iv) the Articles of Association; or (B) a payout by the Company of a material amount relating to all losses, liabilities, claims,
demands, judgments, damages, settlements, fines, suits, actions, costs and expenses arising from or related to the non-compliance of the Company’s products with the TUV standards. A notice issued pursuant to either clause (A) or clause
(B) of this paragraph shall be referred to herein as the “Breach Notice”. 

  

	 	  	Following receipt of the Breach Notice, the Company shall, within ten (10) days thereafter, provide written notice to each holder of record of the Series A Preferred Shares at
the address last shown on the records of the Company for such holder(s) and pursuant to paragraph 95 of the Articles of Association. 

  

	 	7.5.2	A notice of redemption by any holder of Series A Shares pursuant to Section 7.5 shall be given by hand or by mail to the registered office of the Company at any time on or
after the Redemption Trigger Event stating the date on or after the Redemption Trigger Event on which the Series A Preferred Shares are to be redeemed (the “Redemption Date”), provided, however, that the
Redemption Date shall be no earlier than the Redemption Trigger Event or the date 30 days after such notice of redemption is given, whichever is later. Upon receipt of any such request, the Company shall promptly give written notice of the
redemption request to each non-requesting holder of record of Series A Preferred Shares stating the existence of such request, the Redemption Price, the Redemption Date and the mechanics of redemption. If on the Redemption Date, the number of Series
A Preferred Shares that may then be legally redeemed by the Company is less than the number of all Series A Shares to be redeemed, then (i) the number of Series A Shares then redeemed shall be based ratably on all Series A Preferred Shares to
be redeemed, and (ii) the remaining Series A Preferred Shares to be redeemed shall be carried forward and redeemed as soon as the Company has legally available funds to do so. 

  

	 	7.5.3	 Before any holder of Series A Shares shall be entitled for redemption under the provisions of this Section 7.5, such holder shall surrender his or her
certificate or certificates representing such Series A Preferred Shares to be redeemed to 

  

 19 

	 	 
the Company in the manner and at the place designated by the Company for that purpose, and thereupon the Redemption Price shall be payable to the order of
the person whose name appears on such certificate or certificates as the owner of such shares and each such certificate shall be cancelled. In the event less than all the shares represented by any such certificate are redeemed, a new certificate
shall be promptly issued representing the unredeemed shares. Unless there has been a default in payment of the applicable Redemption Price, upon cancellation of the certificate representing such Series A Preferred Shares to be redeemed, all
dividends on such Series A Preferred Shares designated for redemption on the Redemption Date shall cease to accrue and all rights of the holders thereof, except the right to receive the Redemption Price thereof (including all accrued and unpaid
dividend up to the Redemption Date), without interest, shall cease and terminate and such Series A Preferred Shares shall cease to be issued shares of the Company. 

  

	 	7.5.4	If the Company fails (for whatever reason) to redeem any Series A Preferred Shares on its due date for redemption, then, as from such date until the date on which the same are
redeemed, the Company shall not declare or pay any dividend nor otherwise make any distribution of or otherwise decrease its profits available for distribution. 

  

	 	7.5.5	To the extent permitted by law, the Company shall procure that the profits of each subsidiary of the Company for the time being available for distribution shall be paid to it by way
of dividend if and to the extent that, but for such payment, the Company would not itself otherwise have sufficient profits available for distribution to make any redemption of Series A Preferred Shares required to be made pursuant to this
Section 7.5. 

  

	8.	Registered Shares. 

 Preferred Shares and Ordinary
Shares issued by the Company shall be issued only as registered and not bearer shares. 
  

	9.	Reservation of Shares. 

 The Company shall at all
times reserve and keep available, out of its authorized but unissued Ordinary Shares, such number of Ordinary Shares as shall from time to time be sufficient, for the purpose of (a) effecting the conversion of the Series A Preferred Shares, and
(b) issuing shares upon the exercise, conversion or exchange of any Ordinary Share Equivalent. If at any time the number of authorized but unissued Ordinary Shares shall not be sufficient for the issuance of Ordinary Shares pursuant to this
Article 9, the Company shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued Ordinary Shares to such number of shares as shall be sufficient for such purposes. 
  

 20 

	10.	Exempted Company. 

 If the Company is registered as
exempted, its operations will be carried on subject to the provisions of Section 193 of the Companies Law (Revised) and, subject to the provisions of the Companies Law (Revised) and the Articles of Association, it shall have the power to
register by way of continuation as a body corporate limited by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. 
  

 21 

 Exhibit A 
 Register of Members 
  

 22 

 REGISTER OF MEMBERS 
 [NEWCO] LIMITED 
 ORDINARY SHARES 
  

																					
	 NAME OF MEMBER
	  	ADDRESS	  	DATE OF
ENTRY AS
MEMBER	  	CERTIFICATES
ISSUED	  	FROM WHOM
SHARES WERE
TRANSFERRED	  	AMOUNT
PAID
THEREON	  	 DATE OF
TRANSFER
 OF SHARES
	  	TO WHOM
SHARES
TRANSFERRED	  	CERTIFICATES
SURRENDERED
	 	  	 	  	 	  	CERT
NOS	  	NO
SHARES	  	 	  	 	  	 	  	 	  	CERT
NOS	  	NO
SHARES
		  		  		  		  		  		  		  		  		  		  	

 [local Cayman counsel to update information, as applicable] 

 REGISTER OF MEMBERS 
 [NEWCO] LIMITED 
 SERIES A PREFERRED SHARES 
  

																					
	 NAME OF MEMBER
	  	ADDRESS	  	DATE OF
ENTRY AS
MEMBER	  	CERTIFICATES
ISSUED	  	FROM WHOM
SHARES WERE
TRANSFERRED	  	AMOUNT
PAID
THEREON	  	DATE OF
TRANSFER
OF SHARES	  	TO WHOM
SHARES
TRANSFERRED	  	CERTIFICATES
SURRENDERED
	 	  	 	  	 	  	CERT
NOS	  	NO
SHARES	  	 	  	 	  	 	  	 	  	CERT
NOS	  	NO
SHARES
		  		  		  		  		  		  		  		  		  		  	

 [local Cayman counsel to update information, as applicable, following Initial Closing] 

 AMENDED AND RESTATED APRIL 28, 2006 
 THE COMPANIES LAW (REVISED) 
 OF THE CAYMAN ISLANDS 
 COMPANY LIMITED BY SHARES 
 FIRST
AMENDED AND RESTATED ARTICLES OF ASSOCIATION 
 OF 
 TRINA SOLAR ENERGY HOLDING LIMITED CO. 
  

	1.	In these Articles Table A in the Schedule to the Statute does not apply and, unless there be something in the subject or context inconsistent therewith, 

  

			
	“Articles”	  	means these First Amended and Restated Articles of Association, as from time to time amended or altered.
		
	“Auditors”	  	means the persons for the time being performing the duties of auditors of the Company.
		
	“Board”	  	means the Board of Directors of the Company as constituted from time to time.
		
	“Company”	  	means the above-named Company.
		
	“debenture”	  	means debenture stock, mortgages, bonds and any other such securities of the Company whether constituting a charge on the assets of the Company or not.
		
	“Directors”	  	means the directors for the time being of the Company.
		
	“IAS”	  	means the International Accounting Standards as adopted by the International Accounting Standards Board.
		
	“Member” or “Shareholder”	  	shall bear the meaning as ascribed to “Member” in the Statute.

  

 1 

			
	“Memorandum”	  	means the First Amended and Restated Memorandum of Association of the Company, as amended from time to time.
		
	“month”	  	means calendar month.
		
	“Ordinary Resolution”	  	means a resolution:
		
		  	(a) passed by a simple majority of such Members as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the Company and, where a poll is
taken, by a simple majority of the votes cast at such general meeting duly convened; or
		
		  	(b) approved in writing by such Members holding an absolute majority of the votes attached to the shares entitled to vote at a general meeting of the Company, in one or more instruments each
signed by one or more of the Members and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments if more than one, is executed.
		
	“Ordinary Shares”	  	means the Ordinary Shares of the Company as defined in Article 6.2 of the Memorandum.
		
	“paid-up”	  	means paid-up and/or credited as paid-up.
		
	“Preferred Shares”	  	means the Preferred Shares of the Company as defined in Article 6.2 of the Memorandum.
		
	“registered office”	  	means the registered office for the time being of the Company.
		
	“Seal”	  	means the common seal of the Company and includes every duplicate seal.
		
	“Series A Preferred Shares”	  	means the Series A Preferred Shares of the Company, as defined in Article 6.2 of the Memorandum.
		
	“Secretary”	  	includes an Assistant Secretary and any person appointed to perform the duties of Secretary of the Company.
		
	“share”	  	includes a fraction of a share.

  

 2 

			
	“Special Resolution”	  	shall bear the meaning as ascribed to “Special Resolution” in the Statute.
		
	“Statute”	  	means the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands.
		
	“Subsidiary”	  	means any entity of which more than 51% of the issued and outstanding share capital or voting interests is owned, directly or indirectly, by the Company, including, without limitation, Trina
Solar Energy Co., Ltd.
		
	“written” and “in writing”	  	include all modes of representing or reproducing words in visible form.

 Words importing the singular number only include the plural number and vice-versa. 
 Words importing the masculine gender only include the feminine gender. 
 Words importing persons only include corporations. 
  

	2.	The business of the Company may be commenced as soon after incorporation as the Board shall see fit, notwithstanding that only part of the shares may have been allotted.

  

	3.	The Board may pay, out of the capital or any other monies of the Company, all expenses incurred in or about the formation and establishment of the Company including the expenses of
registration. 

 CERTIFICATES FOR SHARES 
  

	4.	Certificates representing shares of the Company shall be in such form as shall be determined by the Board. Such certificates may be under Seal. All certificates for shares shall be
consecutively numbered or otherwise identified and shall specify the shares to which they relate. The name and address of the person to whom the shares represented thereby are issued, with the number of shares and date of issue, shall be entered in
the register of Members of the Company. All certificates surrendered to the Company for transfer shall be cancelled and no new certificate shall be issued until the former certificate for a like number of shares shall have been surrendered and
cancelled. The Board may authorize certificates to be issued with the seal and authorized signature(s) affixed by some method or system of mechanical process. 

  

	5.	Notwithstanding Article 4 of these Articles, if a share certificate be proved to the satisfaction of the Board to have been defaced, lost or destroyed, it may be renewed on payment
of a fee of one dollar (US$l.00) and the giving of such indemnity to the Company, in such form and in such sum as the Board may direct. 

  

 3 

 ISSUE OF SHARES 
  

	6.	Subject to the provisions of Article 6 and Article 7 of the Memorandum setting out the authorized amounts, rights and qualifications of the Company’s two classes of shares, and
without prejudice to any special rights previously conferred on the holders of existing shares, the Board may allot, issue, grant options over or otherwise dispose of shares of the Company (including fractions of a share). The Company shall not
issue shares in bearer form. 

  

	7.	The Company shall maintain a register of its Members and every person whose name is entered as a Member in the register of Members shall be entitled without payment to receive
within two months after allotment or lodgment of transfer (or within such other period as the conditions of issue shall provide) one certificate for all his shares or several certificates each for one or more of his shares upon payment of fifty
cents (US$0.50) for every certificate after the first or such less sum as the Board shall from time to time determine provided that in respect of a share or shares held jointly by several persons the Company shall not be bound to issue more than one
certificate and delivery of a certificate for a share to one of the several joint holders shall be sufficient delivery to all such holders. 

 TRANSFER OF SHARES 
  

	8.	The instrument of transfer of any share shall be in writing and shall be executed by or on behalf of the transferor and the transferor shall be deemed to remain the holder of a
share until the name of the transferee is entered in the register in respect thereof. 

  

	9.	Subject to any requirements, limitation or conditions in the Memorandum, the Company shall, on the valid application of the transferor or transferee of a registered share in the
Company, enter in the share register the name of the transferee of the share. No transfer or issuance of any shares shall be effective or valid unless and until recorded in the register of Members. 

  

	10.	The registration of transfers may be suspended at such time and for such periods as the Board may from time to time determine, provided always that such registration shall not be
suspended for more than forty-five days in any year. 

 REDEEMABLE SHARES 
  

	11.    (a)	Subject to the provisions of the Statute and Section 7.2.3 of the Memorandum, shares may be issued on the terms that they are, or at the option of the Company or the holder
are, to be redeemed on such terms and in such manner as the Company, before the issue of the shares, may determine. 

  

 4 

	 	(b)	Subject to the provisions of the Statute and the Memorandum, the Company may purchase its own shares, including any redeemable shares, and the Company be and is hereby authorized to
use all funds available for the purpose under the Statute, including making payments out of capital. 

 VARIATION OF RIGHTS
OF SHARES 
  

	12.	If at any time the share capital of the Company is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the
shares of that class) may, whether or not the Company is being wound-up, be varied only in accordance with Section 7.2.3 of the Memorandum. 

  

	13.	The rights conferred upon the holders of the shares of any class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the
shares of that class or by express modification of such rights, be deemed to be varied by the creation or issue of further shares ranking pari passu therewith. 

 COMMISSION ON SALE OF SHARES 
  

	14.	The Company may in so far as the Statute from time to time permits pay a commission to any person in consideration of his subscribing or agreeing to subscribe whether absolutely or
conditionally for any shares of the Company. Such commissions may be satisfied by the payment of cash or the lodgment of fully or partly paid-up shares or partly in one way and partly in the other. The Company may also on any issue of shares pay
such brokerage as may be lawful. 

 NON-RECOGNITION OF TRUSTS 
  

	15.	No person shall be recognized by the Company as holding any share upon any trust and the Company shall not be bound by or be compelled in any way to recognize (even when having
notice thereof) any equitable, contingent, future, or partial interest in any share, or any interest in any fractional part of a share, or (except only as is otherwise provided by these Articles or the Statute) any other rights in respect of any
share except an absolute right to the entirety thereof in the registered holder. 

 CALL ON SHARES 
  

	16.    (a)	 The Board may from time to time make calls upon the Members in respect of any monies unpaid on their shares (whether on account of the nominal value of the shares
or by way of premium or otherwise) and not by the conditions of allotment thereof made payable at fixed terms, provided that no call shall be payable at less than one month from the date fixed for the payment of the last preceding call, and each
Member shall (subject to receiving at least fourteen days notice specifying 

  

 5 

	 	 
the time or times of payment) pay to the Company at the time or times so specified the amount called on the shares. A call may be revoked or postponed as the
Board may determine. A call may be made payable by installments. 

  

	 	(b)	A call shall be deemed to have been made at the time when the resolution of the Board authorizing such call was passed. 

  

	 	(c)	The joint holders of a share shall be jointly and severally liable to pay all calls in respect thereof. 

  

	17.	If a sum called in respect of a share is not paid before or on a day appointed for payment thereof, the persons from whom the sum is due shall pay interest on the sum from the day
appointed for payment thereof to the time of actual payment at such rate not exceeding ten per cent per annum as the Board may determine, but the Board shall be at liberty to waive payment of such interest either wholly or in part.

  

	18.	Any sum which by the terms of issue of a share becomes payable on allotment or at any fixed date, whether on account of the nominal value of the share or by way of premium or
otherwise, shall for the purposes of these Articles be deemed to be a call duly made, notified and payable on the date on which by the terms of issue the same becomes payable, and in the case of non-payment all the relevant provisions of these
Articles as to payment of interest forfeiture or otherwise shall apply as if such sum had become payable by virtue of a call duly made and notified. 

 FORFEITURE OF SHARES 
  

	19.    (a)	If a Member fails to pay any call or installment of a call or to make any payment required by the terms of issue on the day appointed for payment thereof, the Board may, at any time
thereafter during such time as any part of the call, installment or payment remains unpaid, give notice requiring payment of so much of the call, installment or payment as is unpaid, together with any interest which may have accrued and all expenses
that have been incurred by the Company by reason of such non-payment. Such notice shall name a day (not earlier than the expiration of fourteen days from the date of giving of the notice) on or before which the payment required by the notice is to
be made, and shall state that, in the event of non-payment at or before the time appointed the shares in respect of which such notice was given will be liable to be forfeited. 

  

	 	(b)	If the requirements of any such notice as aforesaid are not complied with, any share in respect of which the notice has been given may at any time thereafter, before the payment
required by the notice has been made, be forfeited by a resolution of the Board to that effect. Such forfeiture shall include all dividends declared in respect of the forfeited share and not actually paid before the forfeiture.

  

 6 

	 	(c)	A forfeited share may be sold or otherwise disposed of on such terms and in such manner as the Board deems fit, and at any time before a sale or disposition the forfeiture may be
cancelled on such terms as the Board think fit. 

  

	20.	A person whose shares have been forfeited shall cease to be a Member in respect of the forfeited shares, but shall, notwithstanding, remain liable to pay to the Company all monies
which, at the date of forfeiture were payable by him to the Company in respect of the shares together with interest thereon, but his liability shall cease if and when the Company shall have received payment in full of all monies whenever payable in
respect of the shares. 

  

	21.	A certificate in writing under the hand of one Director or the Secretary of the Company that a share in the Company has been duly forfeited on a date stated in the declaration shall
be conclusive evidence of the fact therein stated as against all persons claiming to be entitled to the share. The Company may receive the consideration given for the share on any sale or disposition thereof and may execute a transfer of the share
in favor of the person to whom the share is sold or disposed of and he shall thereupon be registered as the holder of the share and shall not be bound to see to the application of the purchase money, if any, nor shall his title to the share be
affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or disposal of the share. 

  

	22.	The provisions of these Articles as to forfeiture shall apply in the case of non-payment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether
on account of the nominal value of the share or by way of premium as if the same had been payable by virtue of a call duly made and notified. 

 REGISTRATION OF EMPOWERING INSTRUMENTS 
  

	23.	The Company shall be entitled to charge a fee not exceeding one dollar (US$l.00) on the registration of every probate, letters of administration, certificate of death or marriage,
power of attorney, notice in lieu of distringas, or other instrument. 

 AMENDMENT OF MEMORANDUM OF ASSOCIATION, ALTERATION
OF CAPITAL & CHANGE OF LOCATION OF REGISTERED OFFICE 
  

	24.    (a)	Subject to Section 7.2.3 of the Memorandum and in so far as permitted by the provisions of the Statute, the Company may from time to time by Special Resolution alter or amend
its Memorandum with respect to any objects, powers or other matters specified therein; provided, however, that the Company may, by Ordinary Resolution (subject to Section 7.2.3 of the Memorandum) effectuate the following:

  

	 	(i)	increase the share capital by such sum to be divided into shares of such amount or without nominal or par value as the resolution shall prescribe and with such rights, priorities
and privileges annexed thereto; 

  

 7 

	 	(ii)	consolidate and divide all or any of its share capital into shares of larger amount than its existing shares; 

  

	 	(iii)	by subdivision of its existing shares or any of them divide the whole or any part of its share capital into shares of smaller amount than is fixed by the Memorandum or into shares
without nominal or par value; 

  

	 	(b)	Except as set forth in the Memorandum, all new shares created hereunder shall be subject to the same provisions with reference to the payment of calls, transfer, forfeiture and
otherwise as the shares in the original share capital. 

  

	 	(c)	Without prejudice to Article 11 hereof and subject to the provisions of the Statute and the Memorandum, the Company may by Special Resolution reduce its share capital and any
capital redemption reserve fund. 

  

	 	(d)	Subject to the provisions of the Statute, the Company may by resolution of the Board change the location of its registered office. 

 CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE 
  

	25.	For the purpose of determining Members entitled to notice of or to vote at any meeting of Members or any adjournment thereof, or Members entitled to receive payment of any dividend,
or in order to make a determination of Members for any other proper purpose, the Board may provide that the register of Members shall be closed for transfers for a stated period but not to exceed in any case forty days. If the register of Members
shall be so closed for the purpose of determining Members entitled to notice of or to vote at a meeting of Members such register shall be so closed for at least ten days immediately preceding such meeting and the record date for such determination
shall be the date of the closure of the register of Members. 

  

	26.	In lieu of or apart from closing the register of Members, the Board may fix in advance a date as the record date for any such determination of Members entitled to notice of or to
vote at a meeting of the Members and for the purpose of determining the Members entitled to receive payment of any dividend the Board may, at or within 90 days prior to the date of declaration of such dividend fix a subsequent date as the record
date for such determination. 

  

	27.	If the register of Members is not so closed and no record date is fixed for the determination of Members entitled to notice of or to vote at a meeting of Members or Members entitled
to receive payment of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the Board declaring such dividend is adopted, as the case may be, shall be the record date for such determination of Members.
When a determination of Members entitled to vote at any meeting of Members has been made as provided in this section, such determination shall apply to any adjournment thereof. 

  

 8 

 GENERAL MEETING 
  

	28.	The Company may but shall not be obliged to hold an annual general meeting. 

  

	29.    (a)	The Board may whenever they think fit, and they shall on the requisition of Members of the Company who, at the date of the deposit of the requisition, hold not less than ten percent
(10%) of the aggregate voting power attributable to the issued and outstanding share capital of the Company, proceed to convene a general meeting of the Company. 

  

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

  

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

  

	 	(d)	A general meeting convened as aforesaid by requisitionists shall be convened in the same manner as nearly as possible as that in which general meetings are to be convened by the
Board. 

  

	 	(e)	Members may participate in any general meeting by means of conference telephone or video conferencing or similar communications equipment by means of which all persons participating
in the meeting can hear each other, and participation such a meeting pursuant to this provision shall constitute presence in person at such meeting. 

 NOTICE OF GENERAL MEETINGS 
  

	30.	At least fourteen (14) days’ notice shall be given of an annual general meeting or any other general meeting. Every notice shall be exclusive of the day on which it is
given or deemed to be given and of the day for which it is given and shall specify the place, the day and the hour of the meeting and the general nature of the business and shall be given in manner hereinafter mentioned or in such other manner if
any as may be prescribed by the Company PROVIDED that a general meeting of the Company shall, whether or not the notice specified in this regulation has been given and whether or not the provisions of Article 38 have been complied with, be deemed to
have been duly convened if it is so agreed: 

  

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

  

 9 

	 	(b)	in the case of any other general meeting by a majority in number of the Members having a right to attend and vote at the meeting, being a majority together holding not less than a
majority of the issued and outstanding Ordinary Shares and a majority of the issued and outstanding Preferred Shares. 

  

	31.	The accidental omission to give notice of a general meeting to, or the non-receipt of notice of a meeting by any person entitled to receive notice shall not invalidate the
proceedings of that meeting. 

 PROCEEDINGS AT GENERAL MEETINGS 
  

	32.	No business shall be transacted at any general meeting unless a quorum of Members is present at the time when the meeting proceeds to business. A quorum shall require the presence
in person or by proxy of (i) one or more Members holding at least a majority of the aggregate voting power attributable to the issued and outstanding Ordinary Shares, and (ii) one or more Members holding at least a majority of the
aggregate voting power attributable to the issued and outstanding Series A Preferred Shares. 

  

	33.	Subject to the definition of “Ordinary Resolution” under Article 1 hereof, a resolution in writing (in one or more counterparts) signed by all Members for the time being
entitled to receive notice of and to attend and vote at general meetings (or being corporations by their duly authorized representatives) shall be as valid and effective as if the same had been passed at a general meeting of the Company duly
convened and held. 

  

	34.	If within an hour from the time appointed for the meeting a quorum is not present, the meeting, if convened upon the requisition of Members, shall be dissolved and in any other case
it shall stand adjourned to the same day in the next week at the same time and place or to such other time or such other place as the Board may determine and if at the adjourned meeting a quorum is not present within half an hour from the time
appointed for the meeting the Members present shall be a quorum. 

  

	35.	The Chairman, if any, of the Board of Directors shall preside as Chairman at every general meeting of the Company, or if there is no such Chairman, or if he shall not be present
within thirty minutes after the time appointed for the holding of the meeting, or is unwilling to act, the Directors present shall elect one of the present Directors to be Chairman of the meeting. 

  

	36.	If at any general meeting no Director is willing to act as Chairman or if no Director is present within thirty minutes after the time appointed for holding the meeting, the Members
present shall choose one of the present Members to be Chairman of the meeting. 

  

	37.	The Chairman may, with the consent of any general meeting duly constituted hereunder, and shall if so directed by the meeting, adjourn the meeting from time to time and from place
to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a general meeting is adjourned for thirty days or more, notice of the adjourned
meeting shall be given as in the case of an original meeting; save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned general meeting. 

  

 10 

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

 VOTES OF MEMBERS 
  

	39.	Subject to any rights or restrictions for the time being attached to any class or classes of shares, every Member of record present in person or by proxy shall have one vote for
each share registered in his name in the register of Members. 

  

	40.	In the case of joint holders of record the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint
holders, and for this purpose seniority shall be determined by the order in which the names stand in the register of Members. 

  

	41.	A Member of unsound mind, or in respect of whom an order has been made by any court, having jurisdiction in lunacy, may vote, whether on a show of hands or on a poll, by his
committee, receiver, curator bonis, or other person in the nature of a committee, receiver or curator bonis appointed by that court, and any such committee, receiver, curator bonis or other persons may vote by proxy. 

  

	42.	No Member shall be entitled to vote at any general meeting unless he is registered as a Shareholder of the Company on the record date for such meeting nor unless all calls or other
sums presently payable by him in respect of shares in the Company have been paid. 

  

	43.	No objection shall be raised to the qualification of any voter except at the general meeting or adjourned general meeting at which the vote objected to is given or tendered and
every vote not disallowed at such general meeting shall be valid for all purposes. Any such objection made in due time shall be referred to the Chairman of the general meeting whose decision shall be final and conclusive. 

 

	44.	On any vote of the Shareholders votes may be given either personally or by proxy. 

 PROXIES 
  

	45.	The instrument appointing a proxy shall be in writing and shall be executed under the hand of the appointor or of his attorney duly authorized in writing, or, if the appointor is a
corporation under the hand of an officer or attorney duly authorized in that behalf. A proxy need not be a Member of the Company. 

  

	46.	 The instrument appointing a proxy shall be deposited at the registered office of the Company or at such other place as is specified for that purpose in the notice
convening the meeting no later than the time for holding the meeting, or adjourned meeting provided that the Chairman of the Meeting may at his discretion direct that an instrument of proxy shall be deemed to 

  

 11 

	 	 
have been duly deposited upon receipt of telex, cable or telecopy confirmation from the appointor that the instrument of proxy duly signed is in the course
of transmission to the Company. 

  

	47.	The instrument appointing a proxy may be in any usual or common form and may be expressed to be for a particular meeting or any adjournment thereof or generally until revoked.

  

	48.	A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or of
the authority under which the proxy was executed, or the transfer of the share in respect of which the proxy is given provided that no intimation in writing of such death, insanity, revocation or transfer as aforesaid shall have been received by the
Company at the registered office before the commencement of the general meeting, or adjourned meeting at which it is sought to use the proxy. 

  

	49.	Any corporation which is a Member of record of the Company may in accordance with its Articles or in the absence of such provision by resolution of its Directors or other governing
body authorize such person as it thinks fit to act as its representative at any meeting of the Company or of any class of Members of the Company, and the person so authorized shall be entitled to exercise the same powers on behalf of the corporation
which he represents as the corporation could exercise if it were an individual Member of record of the Company. 

  

	50	Shares of its own capital belonging to the Company or held by it in a fiduciary capacity shall not be voted, directly or indirectly, at any meeting and shall not be counted in
determining the total number of outstanding shares at any given time. 

 DIRECTORS 
  

	51.	There shall be a Board of Directors consisting of seven (7) persons (exclusive of alternate Directors) PROVIDED HOWEVER that the Company may from time to time by Ordinary
Resolution, subject to Section 7.2.3 of the Memorandum, change the number of Directors. 

  

	52.	The remuneration, if any, to be paid to the Directors shall be such remuneration as the Board or the Members by Ordinary Resolution shall determine. Such remuneration shall be
deemed to accrue from day to day. The Directors shall also be entitled to be paid their travel, hotel and other expenses properly incurred by them in going to, attending and returning from meetings of the Board, or any committee of the Board, or
general meetings of the Company, or otherwise in connection with the business of the Company. 

  

	53.	The Board may by resolution award special remuneration to any Director of the Company undertaking any special work or services for, or undertaking any special mission on behalf of,
the Company other than his ordinary routine work as a Director. 

  

 12 

	54.	A Board or alternate Director may hold any other office or place of profit under the Company (other than the office of Auditor) in conjunction with his office of Director for such
period and on such terms as to remuneration and otherwise as the Directors may determine. 

  

	55.	A Director or alternate Director may act by himself or his firm in a professional capacity for the Company and he or his firm shall be entitled to remuneration for professional
services as if he were not a Director or alternate Director. 

  

	56.	A Director or alternate Director of the Company may be or become a director or other officer of or otherwise interested in any company promoted by the Company or in which the
Company may be interested as shareholder or otherwise and no such Director or alternate Director shall be accountable to the Company for any remuneration or other benefits received by him as a director or officer of, or from his interest in, such
other company. 

  

	57.	No person shall be disqualified from the office of Director or alternate Director or prevented by such office from contracting with the Company, either as vendor, purchaser or
otherwise, nor shall any such contract or any contract or transaction entered into by or on behalf of the Company in which any Director or alternate Director shall be in any way interested be or be liable to be avoided, nor shall any Director or
alternate Director so contracting or being so interested be liable to account to the Company for any profit realized by any such contract or transaction by reason of such Director holding office or of the fiduciary relation thereby established. A
Director (or his alternate Director in his absence) shall be at liberty to vote in respect of any contract or transaction in which he is so interested as aforesaid PROVIDED HOWEVER that the nature of the interest of any Director or alternate
Director in any such contract or transaction shall be disclosed by him or the alternate Director appointed by him at or prior to its consideration and any vote thereon. 

  

	58.	A general notice or disclosure to the Directors or otherwise contained in the minutes of a Meeting or a written resolution of the Directors or any committee thereof that a Director
or alternate Director is a shareholder of any specified firm or company and is to be regarded as interested in any transaction with such firm or company shall be sufficient disclosure under Article 57 and after such general notice it shall not be
necessary to give special notice relating to any particular transaction. 

 ALTERNATE DIRECTORS 
  

	59.	A Director who expects to be unable to attend Board Meetings because of absence, illness or otherwise may appoint any person to be an alternate Director to act in his stead and such
appointee whilst he holds office as an alternate Director shall, in the event of absence therefrom of his appointor, be entitled to attend meetings of the Directors and to vote thereat and to do, in the place and stead of his appointor, any other
act or thing which his appointor is permitted or required to do by virtue of his being a Director as if the alternate Director were the appointor, other than appointment of an alternate to himself, and he shall ipso facto vacate office if and when
his appointor ceases to be a Director or removes the appointee from office. Any appointment or removal under this Article shall be effected by notice in writing under the hand of the Director making the same. 

  

 13 

 POWERS AND DUTIES OF DIRECTORS 
  

	60.	Subject to any limitations and other provisions in the Memorandum, the business of the Company shall be managed by the Board, and all power of the Company shall be exercised by or
under the direction of the Board. 

  

	61.	The Board may from time to time and at any time by powers of attorney appoint any company, firm, person or body of persons, whether nominated directly or indirectly by the Board, to
be the attorney or attorneys of the Company for such purpose and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Board under these Articles) and for such period and subject to such conditions as it
may think fit, and any such powers of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorneys as the Board may think fit and may also authorize any such attorney to delegate all or any of
the powers, authorities and discretions vested in him. 

  

	62.	All cheques, promissory notes, drafts, bills of exchange and other negotiable instruments and all receipts for monies paid to the Company shall be signed, drawn, accepted, endorsed
or otherwise executed as the case may be in such manner as the Board shall from time to time by resolution determine. 

  

	63.	The Directors shall cause minutes to be made in books provided for the purpose: 

  

	 	(a)	of all appointments of officers made by the Board; 

  

	 	(b)	of the names of the Directors (including those represented thereat by an alternate or by proxy) present at each meeting of the Board and of any committee of the Board;

  

	 	(c)	of all resolutions and proceedings at all meetings of the Members and of the Board and of committees of the Board. 

  

	64.	The Board on behalf of the Company may pay a gratuity or pension or allowance on retirement to any Director who has held any other salaried office or place of profit with the
Company or to his widow or dependants and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance. 

  

	65.	Subject to the Memorandum, the Board may exercise all the powers of the Company to borrow money and to mortgage or charge its undertaking, property and uncalled capital or any part
thereof and to issue debentures, debenture stock and other securities whether outright or as security for any debt, liability or obligation of the Company or of any third party. 

  

 14 

 MANAGEMENT 
  

	66.    (a)	Subject to the Memorandum and Article 79 hereof, the Directors may from time to time provide for the management of the affairs of the Company in such manner as they shall think fit
and the provisions contained in the three next following paragraphs shall be without prejudice to the general powers conferred by this paragraph. 

  

	 	(b)	The Board from time to time and at any time may establish any committees, local boards or agencies for managing any of the affairs of the Company and may appoint any persons to be
members of such committees or local boards or any managers or agents and may fix their remuneration. 

  

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

  

	 	(d)	Any such delegates as aforesaid may be authorized by the Board to subdelegate all or any of the powers, authorities, and discretions for the time being vested in them.

 PROCEEDINGS OF DIRECTORS 
  

	67.	Except as otherwise provided by these Articles or the Memorandum, the Directors shall meet together for the dispatch of business, convening, adjourning and otherwise regulating
their meetings as they think fit. Questions arising at any meeting shall be decided by a majority of votes of the Directors and alternate Directors present at a meeting at which there is a quorum, the vote of an alternate Director not being counted
if his appointor be present at such meeting. In case of any equality of votes, the matter shall be decided by Ordinary Resolution. 

  

	68.	A Director or alternate Director may, and the Secretary on the requisition of a Director or alternate Director shall, at any time summon a meeting of the Directors by at least two
days’ notice in writing to every Director and alternate Director, which notice shall set forth the general nature of the business to be considered as well as the place, the day, and the hour of the meeting unless notice is waived by all the
Directors (or their alternates) either at, before or after the meeting is held and PROVIDED FURTHER if notice is given in person, by cable, telex or telecopy the same shall be deemed to have been given on the day it is delivered to the Directors or
transmitting organization as the case may be. 

  

 15 

	69.	The quorum necessary for the transaction of the business of the Board shall be four (4), a Director and his appointed alternate Director being considered only one person for this
purpose, PROVIDED ALWAYS that if there shall at any time be only a sole Director the quorum shall be one. For the purposes of this Article an alternate Director or proxy appointed by a Director shall be counted in a quorum at a meeting at which the
Director appointing him is not present. 

 For as long as any Series A Director remains on the Board, the Company and the
Subsidiaries shall not take any of the following actions without first obtaining the approval or written consent of all of the Series A Directors: 
  

	 	(a)	Any alteration of the rights, powers, preferences or restrictions for the Series A Preferred Shares, or any increase or decrease in the authorized number of Series A Preferred
Shares or Ordinary Shares; 

  

	 	(b)	The creation, issuance, or authorization (by reclassification or otherwise) of any class or series of equity securities, or any additional securities exercisable, convertible or
exchangeable for any equity securities; 

  

	 	(c)	The amendment, alteration, waiver or repeal of any provision of the memorandum of association, articles of association or any other constitutional documents of the Company or any of
its Subsidiaries; 

  

	 	(d)	The merger, amalgamation or consolidation (or other similar transaction) of the Company or any Subsidiary with any party; 

  

	 	(e)	The sale, lease, exchange, transfer, contribution, mortgage, pledge, encumbrance or other disposition of any fixed assets or intangible assets of the Company or any Subsidiary
(whether in an individual transaction or a series of related transactions) where the value of the transaction(s) exceeds US$200,000 (excluding the sale, transfer, or other disposition of inventory by the Company or any Subsidiary in the ordinary
course of business); 

  

	 	(f)	Any filing for any bankruptcy, voluntary dissolution, winding-up, liquidation, recapitalization, reorganization, split-up or spin-off, with respect to the Company or any Subsidiary;

  

	 	(g)	Any appointment or dismissal of the outside independent auditors of the Company or any Subsidiary; 

  

	 	(h)	Any material change to the Company’s or any Subsidiary’s accounting policies, practices, methods or principles that is not (i) required by applicable regulatory
authorities or (ii) otherwise required to comply with applicable laws, rules and regulations; 

  

 16 

	 	(i)	Any material change in the business activities engaged by the Company or any Subsidiary; 

  

	 	(j)	The incurrence of any indebtedness or assumption of any financial obligation, or otherwise the issuance, assumption, guarantee or creation of any liability for borrowed money, that
results in a deviation of more than 10% from the planned incurrence of indebtedness amount set forth in the then-current business, financial and operating plan and annual budget plan (collectively, the “Annual Budget Plan”), which
Annual Budget Plan has been approved by the Board of Directors (including both of the Series A Directors); 

  

	 	(k)	Any capital expenditure or any purchase of intangible assets that results in a deviation of more than 5% from the planned capital expenditure or planned purchase of intangible
assets set forth in the Annual Budget Plan; 

  

	 	(l)	Any actual change in expenditures that results in a deviation of more than 10% from the planned expenditures set forth in the Annual Budget Plan; 

  

	 	(m)	Any transaction (or any series of related transactions) with any affiliate that is not (i) in the ordinary course of business and (ii) on an arms-length basis;

  

	 	(n)	Any adoption of, or material amendment to, an employee stock option plan or other similar equity incentive plan; 

  

	 	(o)	Any material change to the compensation and bonus of any executive officer or senior employee of the Company or any Subsidiary; 

  

	 	(p)	Any appointment, nomination, termination or change of the chief executive officer, chief financial officer and chief operating officer (or the equivalent) of the Company or any
Subsidiary; 

  

	 	(q)	The selection of any listing exchange for a registered initial public offering of the shares of the Company and the approval of the valuation of the Company in connection with such
offering as well as the number of shares of the Company to be sold in such offering; 

  

	 	(r)	Any increase or decrease of the authorized size of the Board; 

  

 17 

	 	(s)	Any withdrawal, disbursement, check or draft drawn on the accounts of the Company which are made outside the ordinary course of business and for an amount in excess of US$200,000;

  

	 	(t)	The commencement of any legal action, arbitration, mediation or claims and any decision to settle any lawsuits or claims; or 

  

	 	(u)	The adoption and approval of the Annual Budget Plan. 

  

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

  

	71.	The Directors may elect a Chairman of the Board and determine the period for which he is to hold office; but if no such Chairman is elected, or if at any meeting the Chairman is not
present within thirty minutes after the time appointed for holding the same, the Directors present may choose one of the present Directors to act as the Chairman of the meeting. 

  

	72.	The Directors may delegate any of their powers to committees consisting of such member or members of the Board of Directors (including alternate Directors in the absence of their
appointors) as they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the Board. 

  

	73.	Members of the Board of Directors or of any committee thereof may participate in a meeting of the Board or of such committee by means of conference telephone or similar
communications equipment by means of which all persons participating in the meeting can hear each other and participation in a meeting pursuant to this provision shall constitute presence in person at such meeting. A resolution in writing (in one or
more counterparts), signed by all the Directors for the time being or all the members of a committee of Directors (an alternate Director being entitled to sign such resolution on behalf of his appointor) shall be as valid and effectual as if it had
been passed at a Board meeting or committee as the case may be duly convened and held. 

  

	74.    (a)	A Director may be represented at any meetings of the Board of Directors by a proxy appointed by him in which event the presence or vote of the proxy shall for all purposes be deemed
to be that of the Director. 

  

	 	(b)	The provisions of Articles 45-48 shall mutatis mutandis apply to the appointment of proxies by Directors. 

 VACATION OF OFFICE OF DIRECTOR 
  

	75.	The office of a Director shall be vacated: 

  

	 	(a)	if a Director gives notice in writing to the Company that he resigns as a member of the Board; 

  

 18 

	 	(b)	as provided in Section 7.2.2 of the Memorandum; or 

  

	 	(c)	if he dies, becomes bankrupt or makes any arrangement or composition with his creditors generally. 

 APPOINTMENT AND REMOVAL OF DIRECTORS 
  

	76.	Subject to Section 7.2.2 of the Memorandum, the Directors to serve on the Board of Directors shall be elected by the Members of the Company at large (any series or class of
shares to vote on an as-converted basis with the Ordinary Shares and not as a separate series or class). Subject to Section 7.2.2 of the Memorandum, in the case of any vacancy in the office of a Director, the remaining Directors may, by
affirmative vote of a majority thereof elect a successor to hold office for the unexpired term of the Director whose seat on the Board is vacant. 

 PRESUMPTION OF ASSENT 
  

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

 SEAL 
  

	78.    (a)	The Company may, if the Board so determines, have a Seal which shall only be used by the authority of the Board or of a committee of the Board authorized by the Directors in that
behalf and every instrument to which the Seal has been affixed shall be signed by one person who shall be either a Director or the Secretary or Secretary-Treasurer or some person appointed by the Board for the purpose. 

  

	 	(b)	The Company may have for use in any place outside the Cayman Islands a duplicate Seal or Seals each of which shall be a facsimile of the Common Seal of the Company and, if the Board
so determines, with the addition on its face of the name of every place where it is to be used. 

  

 19 

 OFFICERS 
  

	79.	Officers of the Company are appointed by the Board as they consider necessary, all for a term of one year, and at such remuneration and to perform such duties, and subject to such
provisions as to disqualification and removal as the Board from time to time prescribes. 

 DIVIDENDS, DISTRIBUTIONS AND
RESERVE 
  

	80.	Subject to the Statute and the Memorandum, the Board may from time to time declare dividends (including interim dividends) and distributions on shares of the Company outstanding and
authorize payment of the same out of the funds of the Company lawfully available therefor. 

  

	81.	The Board may, before declaring any dividends or distributions, set aside such sums as it thinks proper as a reserve or reserves which shall at the discretion of the Board, be
applicable for any purpose of the Company and pending such application may, at the like discretion, be employed in the business of the Company. 

  

	82.	No dividend or distribution shall be payable except out of the profits of the Company, realized or unrealized, or out of the share premium account or as otherwise permitted by the
Statute. 

  

	83.	The Board may deduct from any dividend or distribution payable to any Member all sums of money (if any) presently payable by him to the Company on account of calls or otherwise.

  

	84.	The Board may declare that any dividend or distribution be paid wholly or partly by the distribution of specific assets and in particular of paid up shares, debentures, or debenture
stock of any other company or in any one or more of such ways and where any difficulty arises in regard to such distribution, the Board may settle the same as they think expedient and in particular may issue fractional certificates and fix the value
for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any Members upon the footing of the value so fixed in order to adjust the rights of all Members. 

  

	85.	Any dividend, distribution, interest or other monies payable in cash in respect of shares may be paid by cheque or warrant sent through the post directed to the registered address
of the holder or, in the case of joint holders, to the holder who is first named on the register of Members or to such person and to such address as such holder or joint holders may in writing direct. Every such cheque or warrant shall be made
payable to the order of the person to whom it is sent. Any one of two or more joint holders may give effectual receipts for any dividends, bonuses, or other monies payable in respect of the share held by them as joint holders.

  

	86.	No dividend or distribution shall bear interest against the Company. 

  

 20 

 CAPITALISATION 
  

	87.	Subject to the Memorandum, the Company may capitalize any sum standing to the credit of any of the Company’s reserve accounts (including share premium account and capital
redemption reserve fund) or any sum standing to the credit of profit and loss account or otherwise available for distribution and to appropriate such sum to Members in the proportions in which such sum would have been divisible amongst them had the
same been a distribution of profits by way of dividend and to apply such sum on their behalf in paying up in full unissued shares for allotment and distribution credited as fully paid up to and amongst them in the proportion aforesaid. In such event
the Board shall do all acts and things required to give effect to such capitalization, with full power to the Board to make such provisions as they think fit for the case of shares becoming distributable in fractions (including provisions whereby
the benefit of fractional entitlements accrue to the Company rather than to the Members concerned). The Board may authorize any person to enter on behalf of all of the Members interested into an agreement with the Company providing for such
capitalization and matters incidental thereto and any agreement made under such authority shall be effective and binding on all concerned. 

 BOOKS OF ACCOUNT 
  

	88.	The Board shall cause proper books of account to be kept in accordance with IAS with respect to: 

  

	 	(a)	all sums of money received and expended by the Company and the matters in respect of which the receipt or expenditure takes place; 

  

	 	(b)	all sales and purchases of goods by the Company; 

  

	 	(c)	the assets and liabilities of the Company. 

 Proper books
shall not be deemed to be kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the Company’s affairs and to explain its transactions. 
  

	89.	Members shall have the right to inspect any account or book or document of the Company, but the Board shall from time to time determine the times and places the accounts and books
of the Company or any of them shall be open to the inspection of Members not being Directors. 

  

	90.	The Board shall cause to be prepared audited or unaudited profit and loss accounts, balance sheets, group accounts (if any) and such other reports and accounts as the Company may be
required to provide Members under contract. 

  

 21 

 AUDIT 
  

	91.	The Company may at any annual general meeting appoint an Auditor or Auditors of the Company who shall hold office until the next annual general meeting and may fix his or their
remuneration. 

  

	92.	The Board may before the first annual general meeting appoint an Auditor or Auditors of the Company who shall hold office until the first annual general meeting unless previously
removed by an ordinary resolution of the Members in general meeting in which case the Members at that meeting may appoint an Auditor or Auditors. The Board may fill any casual vacancy in the office of Auditor but while any such vacancy continues the
surviving or continuing Auditor or Auditors, if any, may act. The remuneration of any Auditor appointed by the Board under this Article may be fixed by the Directors. 

  

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

  

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

 NOTICES

  

	95.	Notices shall be in writing and may be given by the Company to any Member either personally or by sending it by post, cable, telex, telecopy, facsimile or electronic mail to him or
to his address as shown in the register of Members, such notice, if mailed, to be forwarded airmail if the address be outside the Cayman Islands. 

  

	96.    (a)	Where a notice is sent by post, service of the notice shall be deemed to be effected by properly addressing, pre-paying and posting a letter containing the notice, and to have been
effected at the expiration of sixty hours after the letter containing the same is posted as aforesaid. 

  

	 	(b)	Where a notice is sent by cable, telex, or telecopy, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting
organization and to have been effected on the day the same is sent as aforesaid. 

  

	 	(c)	Where a notice is sent by facsimile or electronic mail, service of the notice shall be deemed to be effected by properly addressing and receiving confirmation of receipt, and to
have been effected on the day the same is sent and confirmed as aforesaid. 

  

 22 

	97.	A notice may be given by the Company to the joint holders of record of a share by giving the notice to the joint holder first named on the register of Members in respect of the
share. 

  

	98.	A notice may be given by the Company to the person or persons which the Company has been advised are entitled to a share or shares in consequence of the death or bankruptcy of a
Member by sending it through the post as aforesaid in a pre-paid letter addressed to them by name, or by the title of representatives of the deceased, or trustee of the bankrupt, or by any like description at the address supplied for that purpose by
the persons claiming to be so entitled, or at the option of the Company by giving the notice in any manner in which the same might have been given if the death or bankruptcy had not occurred. 

  

	99.	Notice of every general meeting shall be given in any manner hereinbefore authorized to: 

  

	 	(a)	every person shown as a Member in the register of Members as of the record date for such meeting except that in the case of joint holders the notice shall be sufficient if given to
the joint holder first named in the register of Members; and 

  

	 	(b)	every person upon whom the ownership of a share devolves by reason of his being a legal personal representative or a trustee in bankruptcy of a Member of record where the Member of
record but for his death or bankruptcy would be entitled to receive notice of the meeting. 

 No other person shall be entitled
to receive notices of general meetings. 
 WINDING UP 
  

	100.	If the Company shall be wound up the liquidator shall divide amongst the Shareholders in cash or kind the assets of the Company in accordance with the Statute and the Memorandum.

 INDEMNITY 
  

	101.	 The Board and officers for the time being of the Company and any trustee for the time being acting in relation to any of the affairs of the Company and their heirs,
executors, administrators and personal representatives respectively shall be indemnified out of the assets of the Company from and against all actions, proceedings, costs, charges, losses, damages and expenses which they or any of them shall or may
incur or sustain by reason of any act done or omitted in or about the execution of their duty in their respective offices or trusts, except such (if any) as they shall incur or sustain by or through their own willful neglect or default respectively
and no such Director, officer or trustee shall be answerable for the acts, receipts, neglects or defaults of any other Director, officer or trustee or for joining in any receipt for the sake of conformity or for the solvency or honesty of any banker
or other persons with whom any monies or effects belonging to the Company may be lodged or deposited for safe custody or for any insufficiency of any security upon which any monies of the Company may be invested or for any other loss or 

  

 23 

	 	 
damage due to any such cause as aforesaid or which may happen in or about the execution of his office or trust unless the same shall happen through the
willful neglect or default of such Director, Officer or trustee. 

 FINANCIAL YEAR 
  

	102.	Unless the Board otherwise prescribes, the financial year of the Company shall end on 31st December in each year and, following the year of incorporation, shall begin on
1st January in each year. 

 AMENDMENTS OF ARTICLES 
  

	103.	Subject to the Statute and the Memorandum, the Company may at any time and from time to time by Ordinary Resolution alter or amend these Articles in whole or in part.

 TRANSFER BY WAY OF CONTINUATION 
  

	104.	If the Company is exempted as defined in the Statute, it shall, subject to the provisions of the Statute and with the approval of a Special Resolution, have the power to register by
way of continuation as a body corporate under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. 

 SHAREHOLDER’S AGREEMENT 
  

	105.	These Articles incorporate the provisions of the Shareholders’ Agreement by reference, both of which are filed at the Registrar of Companies in the Cayman Islands. In the event
of any conflict between the provisions in these Articles and the Shareholders’ Agreement, the provisions of the Shareholders’ Agreement will prevail and, if required, these Articles shall be revised so as to reflect the provisions of the
Shareholders’ Agreement. 

  

 24 

 EXHIBIT C 
 Disclosure Schedule 
  

 Disclosure Schedule 
 In connection with the Share Subscription Agreement dated as of April 28th, 2006 (the “Agreement”) by and among Trina Solar Energy Holding Limited Co. (the “Company”); the
Founder and the Investor, the Company and the Founder hereby deliver this Disclosure Schedule as contemplated under the Agreement which sets forth the information as required to be disclosed herein, and the exceptions to the representations and
warranties made by the Company, the Founder made in Section 3 to the Agreement. 
 The section numbers in this Disclosure Schedule
correspond to the section numbers Exhibit C to the Agreement; provided, however, that any information disclosed herein under any section number shall be deemed to be disclosed and incorporated in any other sections of the Agreement or the Exhibit C
thereto where it is reasonably apparent on the face of such disclosure that such information applies to such other sections. Express references to a specific document do not purport to be complete and are qualified in their entirety by the document
itself. Capitalized terms used in this Disclosure Schedule shall have the meanings ascribed to them in the Agreement and the Exhibit C thereto, unless otherwise defined herein. 
 3.2(a) Capitalization (Trina Solar Energy Holding Limited Co.) 
 Form 1 
  

				
	 Name Of Shareholders
	  	Equity Interest	 
	 Trina International Investment Limited
	  	32.48	%
	 Divine Land International Investment Limited
	  	18.96	%
	 South Great Investment Limited
	  	18.96	%
	 Perseverance International Investment Limited
	  	10.64	%
	 Sino Base Investment Co Ltd
	  	18.96	%

 3.3(b) The Company now hold 100% equity interests of WFOE. This Restructuring has been approved by
Changzhou State High-technology Industry Management Committee with Foreign Investment Enterprise Approval Certificate, WFOE has been licensed with new Enterprises Business Charter. Mr. Gao Jifan and so on register to SAFE for going aboard to
invest. (as is said Register below. The persons who file this Register include Mr. Gao Jifan, Mr. Shi Jianwei, Mr. Liu Canfang, Ms. Wu Chunyan, Mr. Gao Jifan, Mr. Qiu Diming, Mr. Jing Shinong, Mr. Hu Zhigang,
Ms. Wu Zhihua, Mr. Liu Chengrui, Mr. Liu Wenliang, Mr. Ling Yong, Mr. Jiang Ahua, Mr. Song Guofeng, Mr. Shoujian, Mr. Sheng Jianming, Mr. Hu Weizhong.) 
 3.3(c) Ownership of assets 
 (i) The Land Use
Right Assigning Agreement has been signed between WFOE and Changzhou State Land Resource Bureau on Mar 14 2006. According to the agreement, WFOE will purchase the land use right with RMB167,417 yuan per mu, RMB6,208,000 yuan of the purchase amount
has been paid by WOFE itself, the other RMB6,780,417 yuan has been paid by Changzhou Xinxin 

 
Electronic Industry Development Limited Co. according to the agreements between them and WFOE, hereto, the assignment fee of the land has been fully paid.
Though the certificate of land has not been licensed yet now, it is represented by the Changzhou State Land Resource Bureau that the certificate of land use right will be granted to WFOE without material legal obstacle. 
 (ii) The houses on the foresaid land have not been licensed the Property Certificate also for the same reason with clause I in this DS. 
 3.7 Title to Properties and Assets 
  

													
	 Mortgage Name
	  	Certificate NO.	 	Site	  	Mortgaging
Amount	  	Mortgagor	  	Contract
No	  	 Duration

	Land Use Right	  	Chang State
Use(2005)Zi
NO.00738	 	No.127
Xinchang
Road
Xinqiao
Town	  	1,500,000	  	Changzhou
Hengtai
Investment
Assurance
Limited
Co.	  	2005
Year
Gao Di
Zi
No.0007	  	2005.12.07-2008.12.07
							
	A set of Center air-condition system, 4 sets of Layer Pressing Machines and other machines	  	3204002005Zi
No.0107	 		  	16,100,000	  	Changzhou
Hengtai
Investment
Assurance
Limited
Co.	  	2005
Year
Gao Di
Zi
No.0008	  	2005.12.07-2008.12.07
							
	Houses	  	Chang
Fangchan
Quan Zheng
Xin Zi No.
00025448	 	No.127
Xinchang
Road
Xinqiao
Town	  	1,420,000	  	Changzhou
Hengtai
Investment
Assurance
Limited
Co.	  	2005
Year
Gao Di
Zi
No.0006	  	2005.12.07-2008.12.07
							
	Houses	  	Chang
Fangchan
Quan Zheng
Xin Zi No.
00025449	 	No. 127
Xinchang
Road
Xinqiao
Town	  	210,000	  	Changzhou
Hengtai
Investment
Assurance
Limited
Co.	  	2005
Year
Gao Di
Zi
No.0006	  	2005.12.07-2008.12.07
							
	Houses	  	Chang
Fangchan
Quan Zheng
Xin Zi No.
00025450	 	No. 127
Xinchang
Road
Xinqiao
Town	  	670,000	  	Changzhou
Hengtai
Investment
Assurance
Limited
Co.	  	2005
Year
Gao Di
Zi
No.0006	  	2005.12.07-2008.12.07

  

 2 

 3.8 Status of Proprietary Assets 
  

	 	(i)	the Patent of Invention 

 The patents in the following
form 2 are applying to IP Bureau by WFOE. 
 Form 2 
  

							
	 No.
	  	 Name
	  	 Number of
Applying
	  	 Date of Accepting by IP Bureau

	1	  	General solar building component	  	200510085452.5	  	Jul 20 2005(getting accepting notice)
				
	2	  	Solar power tile	  	200410014593.3	  	Jun 4 2004(getting the eligibility notice of principal censoring)
				
	3	  	Solar cooking equipment of multiplely confocal paraboloid	  	200410064610.4	  	Nov 12 2004(getting the eligibility notice of principal censoring)

  

	 	(ii)	the Patent of Utility 

 a. The utilities below are belong
to WFOE: 
 Form 3 
  

									
	 No.
	  	 Name
	  	 Patent Number
	  	 Certificate
Number
	  	 Applying Date

	1	  	Solar power component on the roof	  	ZL 2004 2 0062816.9	  	721198	  	Jul 15 2004
					
	2	  	Solar cooking equipment of multiplely confocal paraboloid	  	ZL 2004 2 0079536.9	  	732311	  	Sep 16 2004
					
	3	  	household-based heat supply system under centralized solar collection	  	ZL 2004 2 0062061.2	  	711492	  	Ju120 2005
					
	4	  	Solar power curtain wall glass	  	ZL 2004 2 0026122.X	  	703750	  	Apr 7 2004
					
	5	  	Solar power tile	  	ZL 2004 2 0026123.4	  	703827	  	Apr 7 2004

 b. The utilities in the following form 4 are applying to IP Bureau by WFOE 
 Form 4 
  

							
	 No.
	  	 Name
	  	 Number of
Applying
	  	 Date of Accepting by IP Bureau

	1	  	General solar building component	  	200520113859.X	  	Jul 20 2005

  

 3 

 c. The following utilities are owed to Changzhou Trina Investment Limited Company but are exclusively
licensed to WFOE whose transfer procedure to WFOE is being handled are as the following Form 5: 
 Form 5 
  

											
	 No.
	  	 Name
	  	 Patent Number
	  	 Certificate
Number
	  	 Applying Date
	  	 Remarks

	1	  	the high vacuum glass cover plate of the flat solar heat collector	  	ZL 01 2 64083.2	  	541083	  	Mar 5 2003	  	
						
	2	  	the flat solar heat collector	  	ZL 02 2 19193.3	  	534523	  	Mar 6 2002	  	getting the accepted notice from government authorities
						
	3	  	double circulation solar water heater working substance expansion piece	  	ZL 01 2 75985.6	  	531565	  	Dec 7 2001	  	getting the accepted notice from government authorities
						
	4	  	double circulation solar water heater against working substance expansion piece	  	ZL 01 2 64078.6	  	515692	  	Sep 27 2001	  	getting the accepted notice from government authorities
						
	5	  	Brass-copperplate ultrasonic jointing solar water heater collector band	  	ZL 01 2 64076.X	  	515498	  	Sep 27 2001	  	getting the accepted notice from government authorities
						
	6	  	Solar double circle water heater	  	ZL 01 2 64077.8	  	515591	  	Sep 27 2001	  	
						
	7	  	Solar double cicyle central water heater	  	ZL 01 2 67542.3	  	515094	  	Oct 12 2001	  	
						
	8	  	Hot tub flat solar heat collector	  	ZL 01 2 64075.1	  	515391	  	Sep 27 2001	  	getting the accepted notice from government authorities
						
	9	  	Solar photronic flat of building	  	ZL 00 2 44037.7	  	443567	  	Aug 3 2000	  	
						
	10	  	Solar building component	  	ZL 00 2 57886.7	  	446734	  	Oct 17 2000	  	getting the accepted notice from government authorities

  

	 	(iii)	Trademarks 

 a. The following trademarks are owed to WFOE
are as the following Form 6 
  

 4 

 Form 6 
  

									
	 No
	  	 Trademark Name
	  	 Registered No.
	  	 Sort
	  	 Effective From the Date of

	1	  	[Chinese characters]	  	3655294	  	1	  	May 28 2005

 b. Trademarks that are applied by WFOE in PRC but not authorized yet are as the following Form 7

 Form 7 
  

									
	 No
	  	 Trademark Name
	  	 Applying No.
	  	 Sort
	  	 Applying date

	1	  	[Chinese Characters]	  	4189866	  	6	  	Jul 27 2004
	2	  	[Chinese Characters]	  	4189864	  	9	  	Jul 27 2004
	3	  	[Chinese Characters]	  	4189865	  	11	  	Jul 27 2004

 c. Trademarks that are applied by Changzhou Trina Investment Limited Company in PRC but not
authorized yet and are exclusively licensed to WFOE whose transfer procedure to WFOE is being handled as the following Form 8 
 Form 8

  

									
	 No
	  	 Trademark Name
	  	 Applying No.
	  	 Sort
	  	 Applying date

	1	  	Trina Logo	  	3983804	  	7	  	Mar 29 2004
	2	  	Trina Logo	  	3983805	  	1	  	Mar 29 2004
	3	  	Trina Logo	  	3983802	  	11	  	Mar 29 2004
	4	  	Trina Logo	  	3983801	  	37	  	Mar 29 2004
	5	  	Trina Logo	  	3983803	  	9	  	Mar 29 2004
	6	  	“Trina”	  	4189861	  	1	  	Jul 27 2004
	7	  	“Trina”	  	4189862	  	9	  	Jul 27 2004
	8	  	“Trina”	  	4189863	  	11	  	Jul 27 2004

  

 5 

	 	(iv)	Governmental funding 

  

									
	 No
	  	 Item of Funding
	  	 Authorization NO
	  	 Amount
(RMB)
	  	 Date

	1	  	The reaserch center of solar project and technology in Changzhou	  	The notice of the fifth science and technology item in Changzhou in 2003	  	200,000	  	Nov 11 2003
					
	2	  	The R&D of vacuum solar high temperature industrial heated item of un-imaging and for gathering light	  	The notice of the fifteenth batch of science and technology development plan and fee guideline(the cooperation item among colleges of the province)	  	300,000	  	Dec 25 2003
					
	3	  	The R&D of vacuum solar high temperature industrial heated item of un-imaging and for gathering light	  	The notice of the first batch of science and technology development plan in xinbei district Changzhou in 2004	  	300,000	  	Feb 25 2004
					
	4	  	The exploitation and industrialization of the building solar component	  	The notice of the sixth batch of of science and technology development plan and fee guideline	  	750,000	  	Jul 26 2004
					
	5	  	The research center of solar project and technology in Changzhou	  	The notice of the second batch of science and technology plan item in Changzhou in 2004	  	300,000	  	July 29 2004
					
	6	  	The exploitation and industrialization of the building solar component	  	The notice of the sixth batch of of science and technology development plan and fee guideline	  	750,000	  	Aug 17 2004
					
	7	  	The exploitation and industrialization of the building solar component	  	The notice of the fifth batch of science and technology development plan in xinbei district Changzhou in 2004	  	750,000	  	Oct 21 2004
					
	8	  	The exploitation of three sorts of solar building component	  	The notice of the fourth and fifth batch of applied technology reaserch and guideline fee	  	600,000	  	Dec 27 2004
					
	9	  	The exploitation and industrialization of the building solar component	  	Notice regarding NO 1 technology development schedule and funds guideline in 2005 including R&D of high-tech, tackling key problem funds allotting item of scientific
base-establishment)	  	500,000	  	Jun 14 2005
					
	10	  	The exploitation of three sorts of solar building component	  	Notice regarding No. 1 applicable technology R&D	  	1,400,000	  	Aug 9 2005
					
	11	  	The solar power system which is compositive with the building	  	Notice regarding No 8 technology Schedule Item in 2005	  	1,100,000	  	Sep 20 2005
					
	12	  	The exploitation and industrialization of the building solar component	  	Notice regarding No. 4 technology schedule in Changzhou Xinbei District	  	200,000	  	Sep 28 2005
					
	13	  	Exploit the solar single-crystal silicon piece and remove the technology of the solar component	  	Notice regarding issuing Special funds schedule for technology improvement in Jiangsu in 2005	  	750,000	  	Dec 7 2005

 3.9 The Business License of WFOE 
  

							
	 No.
	  	 Business Licenses
	  	 Certificate Number
	  	 Duration

	1	  	Enterprises Business License	  	Qi Du Su Chang Zong Zi No.002290	  	1998.01.01-2012.12.25
				
	2	  	certificate of approval for establishment of enterprises with foreign investment in people’s republic of china	  	Shang Wai Zi Su Fu Zi Zi [1997] No.29726	  	Approved on Nov 24 1997, 15 years of duration
				
	3	  	Tax Registration	  	Shui Su Zi No.320400608131455	  	1997.12.26-2012.12.25
				
	4	  	Foreign Exchange Registration	  	No. 320601020390	  	Be subject to annual checking
				
	5	  	Self-applying to Custom Registration	  	Ning Guan Zi No.3204330037	  	Valid till Apr 30 2006
				
	6	  	Self-applying to Inspect Registration	  	3216002727	  	Issued on 2005.11.25.

  

 6 

 3.20 Interested Party Transaction 
 Since multi-crystal materials are now in severely scarcity in the international market, the WFOE strive for raw materials by sorts of trading. But WFOE is
manufacturing foreign enterprises, there are some limits for WFOE to stocking aboard. Sun Era Industry Co. Ltd deal with trading aboard directly for WFOE, To ensure the effective operation of a multiple of trade mode in foreign countries, enhance
the protective measures in purchasing material by the company, simplify the steps and legal risks of foreign trade, including the choosing of trade mode, determine of price, etc, such as exchange of materials purchased from overseas, operate
directly through the overseas trading company. The accounting of Sun Era Industry Co. Ltd is in the charge of financial department of WFOE, and all of its cash is in the management of WFOE. 
 But the WFOE will delete this interested transaction by a newly incorporated company which will replace Sun Era Industry Co. Ltd. 
 3.23 Other Business 
 Mr. Gao Jifan, as
the CEO of WFOE, participate in Changzhou Trina Investment Limited Company as president of board, Changzhou Minsheng Assurance Limited Company as vice-president of board, and Changzhou Trina New Energy Research Limited Company as president of board.

 3.26(h) Employee Matters 
 (i)
Until the date of Dec. 31 2005, there are 478 employees in WOFE. 185 of these persons are formal employees of WOFE, signing the Employ Agreement with WFOE and paid salary by WOFE. 56 of these persons are on probation. 42 of the persons are retirees
or consultants. 74 of the persons are trainees. The above persons on probation, retirees, consultants, and trainees have not signed the employing agreements with WFOE. One foreign employee has employing agreement with WFOE and been paid salary by
WFOE, but the employment registration is not filed because of his working aboard. 
 (ii) Since establishment, the payment of social
insurance fee are as follows: ‘ 
 In 2002 and 2003, WFOE has not pay the social insurance for its employees. In 2004, WFOE paid the
social insurance premium for 63 employees in the amount of RMB234992.86 yuan (the average number from January to December) which including annuities, unemployment insurance and compo&bearing insurance. The hospitalization insurance premium has
been paid in the amount of RMB26534.4 yuan for 64 employees by WFOE. In 2005, WFOE paid the social insurance premium for 91 employees in the amount of RMB 366216.84 yuan (the average number from January to December) which including annuities,
unemployment insurance and compo&bearing insurance. The hospitalization insurance premium has been paid in the amount of RMB 98001.4 yuan for 77 employees by WFOE. The statistic number is in average from January to December. 
  

 7 

 3.27 Advisor Fee 
  

			
	 Name of Advisor
	 	 Total Amount(RMB)

	Grandall Legal Group Shanghai Office	 	300,000
		
	Ping’an Securities Limited Company	 	Initial fee: 200,000;
		
		 	Success fee: 1.2% of the investment total amount supplied by Investors.
		
	Deloitte&Touche Accounting Co.	 	1,000,000

 3.28 Insurance 
  

									
	 the Name of Assets
	  	Coverage	  	The Amount of
Insurance(RMB)	  	Insurance
Preminum
(RMB)	  	 Duration of Insurance

	Machinery Equipment and Houses	  	All risks	  	37,944,274.94	  	31,620.00	  	From O o’clock on Jan 1 2006 to 24 o’clock on Oct 27 2006
					
	Honda Honda Elegant Buick Modern Buick	  	Motor
vehicle
insurance	  	1,629,635	  	26,043.54	  	 2005.12.12-2006.12.15
 2005.9.4-2006.9.3
 2005.8.23-2006.8.22
 2005.6.7-2006.6.6
 2006.2.24-2007.2.23

 (Remainder of this page is intentionally left blank) 
  

 8 

 Execution Page, no text below. 
  

			
		 	 Mr. Gao Jifan
  

		
		 	 Ms. Wu Chunyan
  

	
	Trina Solar Energy Holding Limited Co.
		
	By:	 	  

	Name:	 	Ji Fan Gao
	Title:	 	Managing Director

 April 28th, 2006 
  

 9 

																	
	No.	  	 Utility Model
	  	Original
Owner	  	Current
Owner	  	Patent
No.	  	Certificate
No.	  	Application
Date	  	Publication
Date	  	Transfer
Date
	1.	  	Flat-plate solar collector	  	Gao
Ji-fan	  	Trina
Investment	  	02 2
191933	  	534523	  	2002/03/06	  	2003/01/22	  	2003/09/23
									
	2.	  	Refrigerant’s heat or cold retractable device of solar water heater with double circulation	  	Gao
Ji-fan	  	Trina
Investment	  	012759
856	  	531565	  	2001/12/07	  	2003/01/01	  	2003/08/01
									
	3.	  	Solar water heater that prevents expansion of refrigerant when hot and shrinking of refrigerant when cold with a double circulation	  	Gao
Ji-fan	  	Trina
Investment	  	012640
786	  	515692	  	2001/09/27	  	2002/09/25	  	2003/08/01
									
	4.	  	Ultrasound-welded solar thermal collector strip	  	Gao
Ji-fan	  	Trina
Investment	  	012640
76X	  	515498	  	2001/09/27	  	2002/09/25	  	2003/06/27
									
	5.	  	Solar water heater with double circulation	  	Gao
JI-fan	  	Trina
Investment	  	012640
778	  	515591	  	2001/09/27	  	2002/09/25	  	2003/08/01
									
	6.	  	Central solar water heater with double circulation	  	Gao
Ji-fan	  	Trina
Investment	  	012675
423	  	515094	  	2001/10/12	  	2002/09/25	  	2003/08/01
									
	7.	  	Flat-plate solar thermal collector with thermal pipes	  	Gao
Ji-fan	  	Trina
Investment	  	012640
751	  	515391	  	2001/09/27	  	2002/09/25	  	2003/08/01
									
	8.	  	Building Integrated Photovoltaic module	  	Gao
Ji-fan	  	Trina
Investment	  	002440
377	  	443567	  	2000/08/03	  	2001/08/01	  	2003/08/01
									
	9.	  	Structure of solar energy construction	  	Gao
Ji-fan	  	Trina
Investment	  	ZL 00 2
57886.7	  	446734	  	2000/10/17	  	2001/08/22	  	2003/06/27

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