AMENDEDANDRESTATEDMEMORANDUMANDARTICLESOFASSOCIATION

*Foridentificationpurposeonly

ContentMEMORANDUMOFASSOCIATION

...... 2ARTICLESOFASSOCIATION ...... 4

CHAPTER1DEFINITIONSANDGENERALPROVISIONS ...... 5

(1)Definitions

...... 5

(2)GeneralProvisions

...... 7

CHAPTER2AUTHORIZEDSHARECAPITALANDSHARES ...... 8

(1)AuthorizedShareCapitalandIssueofShares

...... 8

(2)PreferredShares

...... 9

(3)CommonShares

...... 10

(4)TransferofShares

...... 10

(5)RedemptionandRepurchaseofShares

...... 11

(6)TransmissionofShares

...... 12

(7)SaleofShares

...... 13

(8)ShareCertificates

...... 14

(9)RegisterofMembers

...... 14

CHAPTER3MEMBERSANDGENERALMEETINGS ...... 15

(1)RightsofMembers

...... 15

(2)VariationofRightsofShares

...... 16

(3)AuthoritiesofGeneralMeetings

...... 16

(4)ConveningofGeneralMeetings

...... 18

(5)NoticeofGeneralMeetings

...... 19

(6)Proxy

...... 21

(7)ProposedBusinesstobeTransactedatGeneralMeetings

...... 21

(8)ProceedingsatGeneralMeetings

...... 24

(9)VotingbyMembersandPassingofResolutionsatGeneralMeetings

.........25CHAPTER4DIRECTORSANDTHEBOARD ...... 26

(1)DirectorsAppointmentandVacationofOffice

...... 26

(2)RemunerationandInterestsofDirectors

...... 27

(3)AlternateDirectors

...... 28

(4)AuthoritiesandDutiesoftheBoard

...... 29

(5)DelegationofthePoweroftheBoard

...... 30

(6)NoticeofBoardMeetings

...... 31

(7)ProceedingsatBoardMeetings

...... 31

(8)VotingandResolutionsatBoardMeetings

...... 32

CHAPTER5SENIORMANAGEMENTANDSECRETARY ...... 33

CHAPTER6FINANCIALINFORMATION,PROFITDISTRIBUTIONANDAUDIT..33

(1)FinancialInformation

...... 33

(2)ProfitDistribution

...... 34

(3)AppointmentandDutiesofAuditors

...... 36

CHAPTER7WINDINGUP ...... 36

CHAPTER8INDEMNITY ...... 37

CHAPTER9NOTICES ...... 37

CHAPTER10MISCELLANEOUS ...... 38

(1)Seal

...... 38

(2)TransferbywayofContinuation

...... 38

-1-

MEMORANDUMOFASSOCIATION

THECOMPANIESACT(ASREVISED)EXEMPTEDCOMPANYLIMITEDBYSHARES

SEMICONDUCTORMANUFACTURING

INTERNATIONALCORPORATION

ELEVENTHAMENDEDANDRESTATED

MEMORANDUMOFASSOCIATION(ApprovedandAdoptedbywayofaSpecialResolutionpassedon[???]2023)

-2-

1ThenameoftheCompanyisSemiconductorManufacturingInternationalCorporation.2TheregisteredofficeoftheCompanyshallbeattheofficesofConyersTrustCompany

(Cayman)Limited,CricketSquare,HutchinsDrive,P.O.Box2681,GrandCaymanKY1-1111,CaymanIslands,oratsuchotherplaceastheDirectorsmaydecidefromtimetotime.3TheobjectsforwhichtheCompanyisestablishedareunrestrictedandtheCompanyshallhave

fullpowerandauthoritytocarryoutanyobjectnotprohibitedbytheCompaniesActorasthesamemayberevisedfromtimetotime,oranyotherlawoftheCaymanIslands.4TheliabilityofeachMemberislimitedtothepaymentinfulloftheamountfromtimetotime

unpaidonsuchMember’sshares.5ThesharecapitaloftheCompanyisUS$42,000,000dividedinto(i)10,000,000,000common

sharesofaparvalueofUS$0.004eachandhavingtherightsandprivilegesattachedtheretoas

providedintheCompany’sArticlesofAssociationsand(ii)500,000,000preferredsharesofa

parvalueofUS$0.004eachandhavingtherightsandprivilegesattachedtheretoasprovidedin

theCompany’sArticlesofAssociation.6TheCompanyhaspowertoregisterbywayofcontinuationasabodycorporatelimitedby

sharesunderthelawsofanyjurisdictionoutsidetheCaymanIslandsandtobederegisteredin

theCaymanIslands.7CapitalizedtermsthatarenotdefinedinthisMemorandumofAssociationbearthesame

meaningasthosegivenintheArticlesofAssociationoftheCompany.

-3-

ARTICLESOFASSOCIATION

THECOMPANIESACT(ASREVISED)EXEMPTEDCOMPANYLIMITEDBYSHARES

SEMICONDUCTORMANUFACTURINGINTERNATIONALCORPORATION

THIRTEENTHAMENDEDANDRESTATED

ARTICLESOFASSOCIATION(ApprovedandAdoptedbywayofaSpecialResolutionpassedon[???]2023)

-4-

CHAPTER1DEFINITIONSANDGENERALPROVISIONS

(1)Definitions

TableAintheScheduletotheCompaniesActdoesnotapplytotheseArticles.IntheseArticles,unlessthesubjectorcontextsuggestsotherwise,thefollowingtermsandexpressionsshallbearthefollowingmeanings.“Company”SemiconductorManufacturingInternationalCorporation.“CompaniesAct”meanstheCompaniesAct(AsRevised)Cap.22oftheCayman

Islandsandanyamendmentstheretoorre-enactmentsthereofforthetimebeinginforceandincludeseveryotherlawincorporatedtherewithorsubstitutedtherefor.“ExchangeRules”meanstherelevantcodes,rulesandregulations,asamendedfrom

timetotime,applicableasaresultoftheoriginalandcontinuedlistingofanysharesonanyExchange.“Memorandum”meansthememorandumofassociationoftheCompany,as

amendedfromtimetotimebySpecialResolution.“Articles”meansthesearticlesofassociationoftheCompany,asamended

fromtimetotimebySpecialResolution.“Share(s)”meansshare(s)intheCompany,includingafractionofashare.“CommonShares”meansSharesthatenjoycommonrightsandbearcommon

obligations,havingthemeaninggivenintheMemorandum.

CommonSharesincludethoselistedontheExchangesin

MainlandChinaandHongKong,withtransactionsdenominated

inlocalcurrencies.“RMBCommonShares”meansCommonShareslistedontheExchangesinMainlandChina

whicharesubscribedinRMB,withtransactionsdenominatedin

RMB.RMBmeansthelawfulcurrencyofthePeople’sRepublicof

China.“PreferredShares”meansSharesthatenjoypriorityoverCommonSharesinthe

distributionofprofitsandothermattersoftheCompany,havingthe

meaninggivenintheMemorandum.“dividend”includesinterimdividendsandbonusdividends.“paid-up”meanspaid-upand/orcreditedaspaid-up.

-5-

“Member”hasthesamemeaninggivenintheCompaniesAct.“RegisterofMembers”meanstheregistermaintainedinaccordancewiththeCompanies

Actandincludes,unlessotherwisestated,anyduplicateRegisterofMembers.“OrdinaryResolution”meansaresolutionpassedbyasimplemajorityofmorethanone-

half(1/2)oftheMembersas,beingentitledtodoso,voteinpersonorbyproxy,or,inthecaseofcorporations,bydulyauthorizedrepresentatives,atageneralmeeting.Incomputingsuchsimplemajoritywhenapollisdemanded,regardshallbemadetothenumberofvotestowhicheachMemberisentitledbytheArticles.“SpecialResolution”meansaresolutionpassedbyatleastthree-fourths(3/4)ofthe

Membersas,beingentitledtodoso,voteinpersonorbyproxy,or,inthecaseofcorporations,bydulyauthorizedrepresentatives,atageneralmeeting.Incomputingsuchthree-fourthsrequirementwhenapollisdemanded,regardshallbehadtothenumberofvotestowhicheachMemberisentitledbytheArticles.“Board”meanstheboardofdirectorsoftheCompany.“Directors”meansthedirectorsforthetimebeingoftheCompany.“Secretary”meansanypersonappointedtoperformthedutiesofsecretaryof

theCompany.“Auditors”meansthepersonsforthetimebeingperformingthedutiesof

auditorsoftheCompany.“PhysicalMeeting”meansgeneralmeetingheldandconductedbyphysicalattendance

andparticipationbyMembersand/orproxies.“ElectronicMeeting”meansgeneralmeetingheldandconductedbyattendanceand

participationbyMembersand/orproxiesbymeansofelectronic

facilities,whilstsuchelectronicfacilitiesshallenable

communicationamongattendees.“ElectronicCommunication”meanscommunicationsent,transmitted,conveyedandreceivedby

wire,radio,opticalmeansorothersimilarmeansinanyform

throughanymedium.“CSRC”meanstheChinaSecuritiesRegulatoryCommission.

-6-

“Exchange”meansanysecuritiesexchangeorothersystemsonwhichthe

Sharesmaybelistedorotherwiseauthorizedfortradingfromtimetotime.“RecognizedClearingHouse”shallhavethemeaningascribedtheretoinPartIofScheduleIof

theSecuritiesandFuturesOrdinanceofHongKong(Cap.571oftheLawsofHongKong)andanyamendmentstheretoorre-enactmentsthereofforthetimebeinginforceandincludeseveryotherlawincorporatedtherewithorsubstitutedtherefor.“RegisteredOffice”meanstheregisteredofficeforthetimebeingoftheCompany.“MainlandChina”meansthemainlandofthePeople’sRepublicofChina.“HongKong”meanstheHongKongSpecialAdministrativeRegionofthe

People’sRepublicofChina.“Seal”meansthecommonsealoftheCompanyandincludesevery

duplicateseal.“Year”meanscalendaryear.“Month”meanscalendarmonth.

(2)GeneralProvisions

2.1Wordsimportingthesingularnumberincludethepluralnumberandvice-versa;

2.2Wordsimportingthemasculinegenderincludethefemininegender;

2.3Wordsimportingpersonsincludecorporations;

2.4“Written”and“inwriting”includeallmodesofrepresentingorreproducingwordsinvisible

form,includingintheformofelectronicrecord(asdefinedundertheElectronicTransactionAct(AsRevised)ofCaymanIslands);

2.5Referencestoprovisionsofanylaws,rulesorregulationsandExchangeRulesshallbe

construedasreferencestothoseprovisionsasamended,modified,re-enactedorreplacedfromtimetotime;

2.6Anyphraseintroducedbytheterms“including”,“include”,“inparticular”oranysimilar

expressionshallbeconstruedasillustrativeandshallnotlimitthesenseofthewordsprecedingthoseterms;

2.7HeadingsareinsertedforreferenceonlyandshallbeignoredinconstruingtheseArticles;

-7-

2.8ReferencesintheseArticlestoadocumentbeing“executed”includereferencestoitsbeing

executedunderhandorundersealorbyanyothermethodasauthorizedbytheCompany;

2.9AnywordsorexpressionsdefinedintheCompaniesActandanyotherapplicablelawinforce

shall,ifnotinconsistentwiththesubjectorcontextinwhichtheyappear,havethesamemeaningintheseArticlesorthatpartsavetheword“company”includesanybodycorporate;

2.10Referencetoameeting:(1)shallnotbetakenasrequiringmorethanonepersontobepresentif

anyquorumrequirementcanbesatisfiedbyoneperson;(2)shallmeanameetingconvenedandheldinanymannerpermittedbytheseArticles;(3)shall,wherethecontextisappropriate,includeanadjournedmeeting;and(4)forallpurposesofapplicablelaws,regulations,theExchangeRulesandtheseArticles,termssuchasattend,participate,attending,participating,attendanceandparticipationshallbearthesamemeaning.

2.11WheretheseArticlesvestanypowerorauthoritytoanyperson,thispowerorauthoritycanbe

exercisedonanynumberofoccasions,unlessotherwisestatedintheseArticles;

2.12TheCompanyshallcomplywithallapplicablelaws,rulesorregulationsandtheExchange

Rules,regardlessofwhetheranyreferencetosuchprovisionsisexplicitlysetoutintheseArticles.CHAPTER2AUTHORIZEDSHARECAPITALANDSHARES

(1)AuthorizedShareCapitalandIssueofShares

3TheauthorizedsharecapitaloftheCompanyatthedateoftheadoptionoftheseArticlesis

US$42,000,000.00,dividedinto10,000,000,000CommonSharesofaparvalueofUS$0.004eachand500,000,000PreferredSharesofaparvalueofUS$0.004each.4TheCompanymayinageneralmeetingincreaseordecreasethetotalnumberofShares

authorizedtobeissuedorthetotalnumberofissuedShares.5Subjecttotheprovisions,ifany,intheMemorandumandtheseArticlesandtheauthorization

obtainedbytheCompanyinageneralmeetingandwithoutprejudicetoanyrightsattachedto

anyexistingShares,theBoardmayallot,issueorgrantoptionsorwarrantsoverorotherwise

disposeofanyShares(includingfractionsofanyShares)withorwithoutpreferred,deferred,

qualifiedorotherrightsorrestrictions,whetherwithregarddividend,voting,returnofcapitalor

otherwise,andtosuchpersonsatsuchtimesandonsuchotherconditionsastheBoard

considersproper.TheCompanyshallnotissueSharestobearer.6ThegeneralmeetingortheBoardasauthorizedbythegeneralmeetingmayissuewarrantsto

subscribeforanyclassofSharesorothersecuritiesoftheCompanyonsuchtermsand

conditionsasitmayfromtimetotimedetermine.Nowarrantsshallbeissuedtobearerbythe

Company.

-8-

7UponapprovalofthegeneralmeetingorapprovaloftheBoardasauthorizedbythegeneral

meeting,suchnumberofCommonShares,orotherSharesorsecuritiesoftheCompany,asmayberequiredforsuchpurposesshallbereservedforissuanceinconnectionwithanoption,right,warrantorothersecurityoftheCompanyoranyotherpersonthatisexercisablefor,convertibleinto,exchangeablefororotherwiseissuableinrespectofsuchCommonSharesorotherSharesorsecuritiesoftheCompany.

(2)PreferredShares

8PreferredSharesmaybeissuedfromtimetotimeinoneormoreseriesbytheCompany.When

issuingPreferredShares,theresolutionprovidingfortheissueofsuchseriesofPreferredSharespassedatthegeneralmeetingortheresolutionbytheBoard(asauthorizedbythegeneralmeeting)shallstateandexpress:nameanddesignationsofsuchPreferredShares(includingwordsindicatingthevotingpowersattachedthereto,ifany,andincluding“restrictedvoting”or“limitedvoting”wherethevotingrightsattachedtheretoarenotthemostfavorable)),votingpowers(fullorlimitedorwithoutvotingpowers),preferencesandrelative,participating,optionalorotherspecialrightsandqualifications,limitationsorrestrictionsthereof.9SubjecttotheMemorandum,theseArticles,applicablelawsandtheexpressauthorizationofthe

generalmeetingoftheCompany,theBoardmaycreateoneormoreseriesofPreferredSharesonsuchtermsandconditionsasitmayfromtimetotimedetermine,includingbutnotlimitedtothefollowing:

9.1ThenumberofPreferredSharestoconstitutesuchseriesandthedistinctivedesignations

thereof;

9.2ThedividendrateonthePreferredSharesofsuchseries,thedividendpaymentdates,the

periodsinrespectofwhichdividendsarepayable(“DividendPeriods”),whethersuchdividendsshallbepreferredoverCommonSharesandwhethertheyshallbecumulativeand,ifcumulative,thedateordatesfromwhichdividendsshallaccumulate;

9.3WhetherthePreferredSharesofsuchseriesshallbeconvertibleinto,orexchangeablefor,

sharesofanyotherclassoranyotherseriesoftheCompanyandtheconversionpricesorrates,ortheratesatwhichsuchexchangemaybemade,withsuchadjustments,ifany,asshallbestatedandexpressedorprovidedinsuchresolutions;

9.4Thepreferences,ifany,andtheamountsthereof,whichthePreferredSharesofsuch

seriesshallbeentitledtoreceiveuponthewindingupoftheCompany;

9.5Thevotingright,ifany,attachedtothePreferredSharesofsuchseries;

9.6TransferrestrictionsandrightsoffirstrefusalwithrespecttothePreferredSharesofsuch

series;and

-9-

9.7Suchotherterms,conditions,specialrightsandprovisionsasmayseemadvisabletothe

Board.NotwithstandingthefixingofthenumberofPreferredSharesconstitutingaparticularseriesupontheissuancethereof,theBoardatanytimethereaftermayauthorizetheissuanceofadditionalPreferredSharesofthesameseriessubjectalwaystotheCompaniesAct,theMemorandumandtheseArticles.

(3)CommonShares

10TheholdersofCommonSharesshallbe:

10.1entitledtodividendsinaccordancewiththerelevantprovisionsoftheseArticles;

10.2entitledtoattendgeneralmeetingsoftheCompanyandshallbeentitledtoonevotefor

eachCommonShareregisteredinhisnameintheRegisterofMembers,bothinaccordancewiththerelevantprovisionsoftheseArticles;and

10.3entitledtorightsunderandaresubjecttotheprovisionsinrelationtowindingupofthe

CompanyprovidedforintheseArticles.11AllCommonSharesshallrankparipassuwitheachotherinallrespect,includingtherightto

dividendpaymentandassetdistributionuponthewindingupoftheCompany.12RMBCommonSharesissuedbytheCompanyarecentrallydepositedwithChinaSecurities

DepositoryandClearingCompanyLimited.Theissuance,listing,registration,tradingandother

mattersoftheCompany’sRMBCommonSharesshallbegovernedbythelaws,regulationsand

normativedocumentsofMainlandChina.InsofarasRMBCommonSharesoftheCompany

continuetolistontheShanghaiStockExchange,theCompanyshallcomplywiththelawsand

regulationsofMainlandChinaandtherelevantrequirementsofthesecuritiesregulatory

authoritiesofMainlandChinaonthered-chipenterprises.

(4)TransferofShares

13UnlessotherwisestatedintheExchangeRulesortheseArticles,anyMembermaytransferall

orpartofhisSharestoanotherpersonfreefromrestriction.14TransferofanyShareshallbereducedtowritingandeffectedbyaninstrumentoftransferin

theusualcommonformorinsuchotherformastheBoardmayfromtimetotimeapprove.The

instrumentoftransfershallbeexecutedbyoronbehalfofthetransferorandbyoronbehalfof

thetransfereewithamanualsignatureorfacsimilesignature(whichmaybemachineimprinted

orotherwise),providedthatinthecaseofexecutionbyfacsimilesignature,suchfacsimile

signatureshallbereasonablysatisfactorytotheBoard.TheBoardmaydispensewiththe

executionoftheinstrumentoftransferbythetransfereeasitconsidersappropriatetodoso.

AllinstrumentsoftransfermustbekeptattheregisteredofficeoftheCompanyoratsuchother

placeastheBoardmayappoint,andshallbedulyretainedbytheCompany.

-10-

15TheholdersofRMBCommonSharesoftheCompanymaytransfertheirShareselectronically

ontheinternetinamannerpermittedbythesecuritiesregulatoryauthoritiesinMainlandChinaandtheShanghaiStockExchange.16TheregistrationoftransferofanySharesshallsatisfythefollowing;otherwise,theBoardmay

declinetoregistersuchtransfer:

16.1TheinstrumentoftransferhasbeenlodgedwiththeCompany,accompaniedbythe

certificatefortheSharestowhichitrelates(whichshalluponregistrationofthetransferbecancelled)andsuchotherevidenceastheBoardmayreasonablyrequiretoshowtherightofthetransferortomakethetransfer;

16.2TheinstrumentoftransferisinrespectofonlyoneclassofShares;

16.3Theinstrumentoftransferisproperlystamped(incircumstanceswherestampingis

required);

16.4Inthecaseofatransfertojointholders,thenumberofjointholderstowhichtheShareis

tobetransferreddoesnotexceedfour;

16.5TheSharetobetransferredhasbeenpaid-up;and

16.6AfeeofsuchmaximumamountasanyExchangemayfromtimetotimedeterminetobe

payable(orsuchlessersumastheBoardmayfromtimetotimerequire)ispaidtotheCompanyinrespectthereof.17IftheBoardshallrefusetoregisteratransferofanyShare,itshall,withintwomonthsafterthe

dateonwhichthetransferwaslodgedwiththeCompany,sendtoeachofthetransferorandthetransfereeanoticeofsuchrefusal.18ThetransferorshallbedeemedtoremaintheholderofrelevantShareuntilthenameofthe

transfereeisenteredintotheRegisterofMembersinrespectofthetransferofsuchShare.

(5)RedemptionandRepurchaseofShares

19SubjecttotheprovisionsoftheCompaniesAct,theCompanymayissueSharesthataretobe

redeemedorareliabletoberedeemedattheoptionoftheCompanyortheMember.UnlesstheBoardhasbeenexpresslyauthorizedbytheMembersinageneralmeeting,theredemptionofSharesshallbeeffectedinsuchmannerastheCompanymay,bySpecialResolution,determinebeforetheissuanceofShares.20SubjecttotheprovisionsoftheCompaniesAct,theCompanymayredeemorrepurchaseShares

inissue,providedthattheMembersshallhaveapprovedthemannerofredemptionorrepurchasebySpecialResolutionorthatthemannerofredemptionorrepurchaseisinaccordancewiththese

-11-

Articles(andthisauthorizationhasbeenobtainedinaccordancewithSection37(3)oftheCompaniesActasrevisedfromtimetotime),andsuchredemptionorrepurchaseisinaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRules.21TheCompanyisauthorizedtorepurchaseanyCommonSharelistedonanyExchange,whilst

themaximumnumberofCommonSharesthatmayberepurchasedshallbeequaltothenumberofissuedandoutstandingCommonShareslessoneCommonShare.Suchrepurchasetransactionsshallbemadeatsuchtime,atsuchpriceandonsuchtermsasdeterminedandagreedbytheMembersinthegeneralmeetingorbytheBoardasauthorizedbythegeneralmeetingintheirsolediscretion,provided,however,that(1)suchrepurchasetransactionsshallbeinaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRules;and(2)atthetimeofrepurchase,theCompanyisabletopayitsdebtsdueintheordinarycourseofitsbusiness.22TheCompanyisauthorizedtorepurchaseanyCommonSharenotlistedonanyExchangeon

suchtermandatsuchpricebeingagreeduponbetweentheCompanyandtherelevantMember,whilstsuchrepurchasetransactionsshallbeinaccordancewithapplicablelaws,rulesandregulations.23TheredemptionorrepurchaseofanyShareshallnotobligetheCompanytoredeemor

repurchaseanyotherShareotherthanasmayberequiredpursuanttoapplicablelaws,rulesorregulationsandtheExchangeRules,andanyothercontractualobligationsoftheCompany.24TheCompanymaymakeapaymentinrespectoftheredemptionorrepurchaseofSharesinany

mannerpermittedbytheCompaniesAct,includingoutoftheCompany’scapital.25TheholderoftheSharesbeingredeemedorrepurchasedshallbeboundtodeliveruptothe

Companyatitsregisteredoffice,orsuchotherplaceastheBoardmayspecify,theshare

certificates(ifany)thereofforcancellation.

(6)TransmissionofShares

26AnypersonbecomingentitledtoaShareinconsequenceofthedeath,bankruptcy,liquidationor

dissolutionofaMember(orinanyotherwaythanbytransfer)may,uponsuchrelevantand

legalevidencebeingproducedasmayfromtimetotimeberequiredbytheBoard,electeither

toberegisteredhimselfastheholderoftheShareortomakesuchtransferoftheSharetosuch

otherpersonnominatedbyhimandtohavesuchpersonregisteredasthetransfereethereof,but

theBoardshall,ineithercase,retainthesamerighttodeclineorsuspendregistrationofsuch

transferasitwouldhavehadunderArticle16.27IfthepersonsobecomingentitledpursuanttoArticle26shallelecttoberegisteredhimselfas

theholderoftheShare,heshalldeliveruporsendtotheCompanyanoticeinwritingsigned

byhimstatingthathesoelects.

-12-

28ApersonbecomingentitledtoaSharepursuanttoArticle26shallbeentitledtothesame

dividendsandotherrightstowhichhewouldbeentitledifheweretheformerregisteredholderoftheShare,exceptthatheshallnot,beforebeingregisteredasaMemberinrespectoftheShare,beentitledinrespectofsuchSharetoexerciseanyrightconferredtosuchholderofShareinrelationtomeetingsoftheCompany.29IncaseofthedeathofaMember,thepersonalrepresentativesofthedeceasedwherehewasa

soleholder,orthesurvivingjointholderswherethedeceasedwasajointholder,shallbetheonlypersonsrecognizedbytheCompanyashavinganytitletohisinterestintheShares.

(7)SaleofShares

30TheCompanyshallbeentitledtosellanySharesofaMemberortheSharestowhichaperson

isentitledpursuanttoArticle26orbyoperationoflawinsuchmannerasitdeemsappropriateifandprovidedthat:

30.1Allchequesorwarrants,notbeinglessthanthree(3)innumber,foranysumspayablein

cashtotheholderofsuchShareshaveremaineduncashedforaperiodoftwelve(12)years;

30.2Duringsuch12-yearperiod,atleastthree(3)dividendsinrespectoftheSharesin

questionhavebecomepayableandnodividendduringthatperiodhasbeenclaimedbytheMember;

30.3Uponexpiryofthe12-yearperiodunderArticle30.1,theCompanyhascausednoticeto

begiveninaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRulesofitsintentiontosellsuchShares,andaperiodofthree(3)monthshaselapsedsincesuchnoticeandtherelevantExchangehasbeennotifiedofsuchintention;and

30.4TheCompanyhasnotduringthe12-yearperiodunderArticle30.1orbeforetheexpiryof

the3-monthperiodunderArticle30.3receivedanyindicationofthewhereaboutsorexistenceoftheMemberorthepersonentitledtosuchSharesbytransmission.31TogiveeffecttoanysalecontemplatedpursuanttoArticle30,theCompanymayappointany

persontoexecuteastransferoraninstrumentoftransferofthesaidSharesandsuchotherdocumentsasarenecessarytoeffectthetransfer,andsuchdocumentsshallbeaseffectiveasiftheyhadbeenexecutedbytheregisteredholderoforpersonentitledbytransmissiontosuchshares,andthetitleofthetransfereeshallnotbeaffectedbyanyirregularityorinvalidityintheproceedingsrelatingthereto.32ThenetproceedsofanysalepursuanttoArticle30shallbelongtotheCompanyandmaybe

employedinthebusinessoftheCompanyorinvestedinsuchinvestments(otherthansharesorothersecuritiesinoroftheCompanyoritsholdingcompany,ifany)orotherwiseutilizedastheBoardmayfromtimetotimedetermine.TheCompanyshallaccounttotheformerMemberorotherpersonbecomingentitledbytransmissionforanamountequaltosuchnetproceedsandshallenterthenameofsuchformerMemberorsuchotherpersoninthebooksoftheCompanyasacreditorforsuchamount,whereasnotrustshallbecreatednorinterestbepayableinrespectofsuchnetproceedsandtheCompanyshallnotberequiredtoaccountforanymoneyearnedonthesame.

-13-

(8)ShareCertificates

33EverypersonwhosenameisenteredasaMemberintheRegisterofMembersshallbeentitled

withoutpaymenttoreceive,withintwenty(20)days,afterallotmentorlodgmentoftransfer(orwithinsuchotherperiodastheconditionsofissueshallprovide),onecertificateforallhisSharesofeachclassor,uponpaymentofsuchreasonablefeeastheBoardshallprescribe,suchnumberofcertificatesforSharesheldasthatpersonmayrequest.InrespectofSharesheldjointlybyseveralpersonstheCompanyshallnotbeboundtoissueacertificateorcertificatestoeachsuchperson,andtheissueanddeliveryofacertificateorcertificatestooneofseveraljointholdersshallbesufficientdeliverytoallsuchjointholders.AlltransfersandotherdocumentsrelatingtooraffectingthetitletoanyShareorotherregisteredsecuritiesoftheCompanyshallberegistered.34Everysharecertificateshallspecifythenumberofsharesinrespectofwhichitisissuedandthe

amountpaidthereonorthefactthattheyarefullypaid,asthecasemaybe,andmayotherwisebeinsuchwrittenformasshallbedeterminedbytheBoard.EachcertificateshallbeissuedundertheSealoftheCompany,whichshallonlybeaffixedwiththeauthorityoftheBoard(providedthattheBoardmayauthorizecertificatestobeissuedwiththesealandauthorizedsignature(s)affixedbysomemethodsorsystemsofmechanicalprocess).AllcertificatesforSharesshallbeconsecutivelynumbered.35Ifasharecertificateisdefaced,wornout,lostordestroyed,itmayberenewedonsuchterms(if

any)astoevidenceandindemnityandonthepaymentofsuchexpensesreasonablyincurredbytheCompanyininvestigatingandcollectingevidence,astheBoardmayprescribe,and(inthecaseofdefacementorwearingout)upondeliveryoftheoldcertificate.36IfsharecertificatesarenotrequiredtobeissuedtoMembersaccordingtotheExchangeRules,

aforesaidprovisionsmaybeexempted.

(9)RegisterofMembers

37TheCompanyshallmaintainaregisterofitsMembersinaccordancewiththeCompaniesAct

andExchangeRules,withinformationofMembersspecifiedtherein,includingwithoutlimitationtheirnamesandaddresses,thenumberofSharesrespectivelyheldbyMembersandthedateofissuance.TheCompanyshallnotbeboundtoregistermorethanfourpersonsasjointholdersofanyShare.38TheCompany,oranyagentappointedbytheCompanyshallassoonaspracticableandona

regularbasisrecordintheRegisterofMembersalltransfersofShareseffectedonanyduplicateRegisterofMembersandshallatalltimesmaintaintheRegisterofMembersinsuchmannerastoshowatalltimestheMembersforthetimebeingandtheSharesrespectivelyheldbythem,inallrespectsinaccordancewiththeCompaniesAct.

-14-

39TheCompanyshallnotbeobligedtorecognizeanypersonasholdinganyShareuponanytrust

andshallnotbeboundtorecognize(evenwhenhavingnoticethereof)anyequitable,contingent,future,orpartialinterestinanyShare,oranyinterestinanyfractionalpartofaShare,oranyotherrightsinrespectofanyShareexceptanabsoluterighttotheentiretythereofintheregisteredholder,unlessotherwiseprovidedundertheCompaniesActortheseArticles.40TheregistrationofanytransfersofSharesoranyspecificclassthereofmay,onfourteen(14)

days’noticebeinggiveninaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRules,besuspendedandtheRegisterofMembersclosedatsuchtimesandforsuchperiodsastheBoardmayfromtimetotimedetermine,providedalwaysthatsuchregistrationshallnotbesuspendedortheRegisterclosedformorethanthirty(30)daysinanyyear(orsuchlongerperiodastheMembersmaybyOrdinaryResolutiondetermineprovidedthatsuchperiodshallnotbeextendedbeyondsixty(60)daysinanyyear).41ExceptwhentheRegisterofMembersisclosed,theRegisterofMembersmaintainedinHong

KongshallduringbusinesshoursbekeptopentoanyMemberforinspectionwithoutcharge.42TheCompanymaintainsaRegisterofMembersofRMBCommonSharesanddepositsitin

ShanghaithemanagementofwhichisentrustedbytheCompanywithChinaSecurities

DepositoryandClearingCompanyLimited.HoldersregisteredinsuchRegisterofMembersof

RMBCommonSharesarelegalownersofrelevantShares.

CHAPTER3MEMBERSANDGENERALMEETINGS

(1)RightsofMembers

43AllMembersshallhavetherighttospeakatageneralmeetingandshallbeentitledtomake

enquiriesorstatementstothechairmanofthemeeting,verballyorinwrittenform,inrespectof

whichthechairmanofthemeeting,relevantDirectorsorseniormanagementoftheCompany

shallrespond.Sucharightshallbedeemedtohavebeendulyexercisediftheenquiriesor

statementsmaybeheardorseenbyalloronlysomeofthepersonspresentatthemeeting.44AnypersonregisteredasaMemberontherecorddateforageneralmeetingshallhavetheright

tovoteatthemeeting,whetherbyshowofhandsorbypoll,exceptwheresuchMemberis

requiredbyapplicablelaws,rulesorregulationsandtheExchangeRulestoabstainfromvoting

orrestrictedtovotingonlyfor/againstanyparticularresolutionoftheCompany.Wherethe

CompanyhasknowledgethatanyMemberisvotingincontraventionofsuchrequirements,any

votescastbyoronbehalfofsuchMembershallnotbecounted.45Anycorporationorothernon-naturalpersonwhichisaMembermayauthorizesuchpersonasit

thinksfitasitsrepresentativetoattendanygeneralmeetingoftheCompanyorofanyclassof

Members,andinsuchcases,itshallbetreatedasbeingpresentinperson.Thepersonso

authorizedshallbeentitledtoexercisethesamepowersonbehalfofthecorporationorother

non-naturalpersonwhichherepresentsasthecorporationorothernon-naturalpersoncould

exerciseifitwereanindividualMember.

-15-

46IfaRecognizedClearingHouseisaMember,itmayauthorizesuchpersonsasitthinksfitto

actasitsproxiesorrepresentativesatanygeneralmeetingoftheCompanyorofanyclassofMembers.SuchproxiesandrepresentativesshallbeentitledtoexerciserightsequivalenttotherightsofotherMembers,includingtherightstospeakandvote.

(2)VariationofRightsofShares

47ThesharecapitaloftheCompanyisdividedintoCommonSharesandPreferredShares,whilst

Membersareentitledtotherightsattachedtheretoinaccordancewithapplicablelaws,rulesorregulations,theExchangeRules,theseArticlesandthetermsandconditionsofissuanceofShares.48UnlessotherwiseprovidedbythetermsofissuanceoftheShares,therightsattachedtoany

classofSharesmaybevariedwiththesanctionofaSpecialResolutionpassedataseparategeneralmeetingoftheholdersoftheSharesofthatclass.TheprovisionsoftheseArticlesrelatingtogeneralmeetingsshallmutatismutandisapplytoeverysuchseparategeneralmeeting,exceptthatthefollowingquorumshallbesatisfied:

48.1thenecessaryquorumshallbetwoormoreMemberswhoholdatleastonethird(1/3)of

theissuedSharesofthatclassarepresentinpersonorbyproxyatsuchseparategeneralmeeting;or

48.2Atanadjournedmeetingofsuchseparategeneralmeeting,oneholderoftheSharesof

thatclasspresentinperson,orhisproxy,shallbeaquorum.TheprovisionsofthisArticleshallapplytoanychangeorabrogationofrightsofSharesformingpartofaseparateclass.Eachsub-classoftheclasswhichisbeingtreateddifferentlyistreatedasaseparateclassinoperatingthisArticle.49TherightsconferredupontheholdersoftheSharesofanyclassshallnot,unlessotherwise

expresslyprovidedbyapplicablelaws,rulesorregulations,theExchangeRules,theseArticlesorthetermsofissuanceoftheSharesofthatclass,bedeemedtobeaffectedorvariedmateriallybythecreation,issueordistributionoffurtherSharesrankingparipassuorpreferabletherewith,orbyredemptionorrepurchasebytheCompanyofanyShareofanyotherclass.

(3)AuthoritiesofGeneralMeetings

50Pursuanttoapplicablelaws,rulesorregulations,theExchangeRulesandtheseArticles,the

generalmeetingoftheCompanyshallexercise,includingbutnotlimitedto,thefollowingauthoritiesbywayofOrdinaryResolutionsorSpecialResolutions.AllmattersthatcanberesolvedbyOrdinaryResolutionsmayalsoberesolvedbySpecialResolutions.51ThegeneralmeetingoftheCompanyshallbyOrdinaryResolutionapprovethefollowing:

(1)todetermineanyfundamentalchangeoftheCompany’sbusiness;

-16-

(2)toapproveincreaseoftheCompany’ssharecapital(includingtoissueCommonShares,

PreferredShares,securitiesconvertibleintoShares,warrantsandothersecuritiesaffectingtheCompany’ssharecapital);

(3)toapprovecancellationofanySharesthatatthedateofpassingtherelevantresolution

havenotbeentakenoragreedtobetakenbyanyperson;

(4)toapproveconsolidationofalloranyoftheCompany’sSharesintoSharesoflargerpar

valuethantheexistingShares;

(5)toapprovedivisionofalloranyoftheCompany’sSharesintoSharesofsmallerparvalue

thanisfixedbytheMemorandumorintoShareswithoutparvalue;

(6)toapprovetheCompany’sprofitdistributionplanandlossrecoveryplan;

(7)toreviewandapprovetheannualreportoftheCompany;

(8)toapprovetheCompany’sequityincentiveplan(includingstockoptions,restrictedstocks

andstockappreciationrights,etc.);

(9)toapproveprovisionofguaranteebytheCompanytoentitiesoutsidethescopeofthe

Company’sconsolidatedfinancialstatementsinamountsnotexceeding30%oftheCompany’sauditedtotalassetsinthelatestfinancialperiodwithinoneyear,ortoenterpriseswithinthescopeoftheCompany’sconsolidatedfinancialstatementsthatare“connectedpersons”undertheRulesGoverningtheListingofSecuritiesonTheStockExchangeofHongKongLimited(excludingthosethatmeettheexemptionconditionsthereunder);

(10)todecideonappointmentorremovalofanyDirector(includingamanagingorother

executiveDirector),andtoappointanewDirectoruponremovalofanyDirectortoproceedwiththelatter’sduties(exceptwheretheBoardisauthorizedtomakesuchappointmentorremovalundertheseArticles);

(11)toapprovepaymentofanycompensationtoanyDirector/formerDirectorforremoval/

retirementbeyondthescopeasagreedcontractually;

(12)toappointorremoveAuditorsoftheCompany,andtodeterminetheAuditors’

remuneration;

(13)toapprovematerialtransactionsthatshallbeapprovedbythegeneralmeetingin

accordancewithapplicablelaws,rulesorregulationsandtheExchangeRules(otherthantransactionsprovidedforunderArticle52(6));

(14)toapproverelatedorconnectedtransactionsoftheCompanythatshallbeapprovedbythe

generalmeetinginaccordancewithapplicablelaws,rulesorregulations,theExchangeRulesandtheConnected(Related)TransactionManagementPolicyoftheCompany;and

-17-

(15)othermattersthatmayberesolvedbyOrdinaryResolutionsunderapplicablelaws,rulesor

regulations,theExchangeRulesandtheseArticles.52ThegeneralmeetingoftheCompanyshallbySpecialResolutionapprovethefollowing:

(1)toapprovemerger,voluntarywindingupandthechangeofformoftheCompany;

(2)toapproveanyamendmenttotheMemorandumortheseArticles,ortoadoptanew

MemorandumandArticlesofAssociationoftheCompany;

(3)toapprovereductionofthetotalnumberofissuedSharesoftheCompany(includingany

redemptionorrepurchaseofSharesnotcoveredbygeneralmandategrantedbyMembers

atageneralmeeting)providedthatotherrequirementsoftheCompaniesActarecomplied

with;

(4)toapprovevoluntarywithdrawalofSharesfromtradingonthecurrentExchangesandto

determinenottotradeonthecurrentExchanges,ortodecideonapplyingtotradeonother

Exchanges;

(5)toapproveprovisionofguaranteebytheCompanytoentitiesoutsidethescopeofthe

Company’sconsolidatedfinancialstatementsincasesoftheguaranteeamountswithinone

yearexceeding30%oftheCompany’sauditedtotalassetsinitslatestauditedaccounts;

(6)toapprovethepurchaseorsaleofmaterialassetsoftheCompanywithinoneyearwhich

exceeds30%oftheCompany’sauditedtotalassetsinthelatestfinancialperiod;and

(7)othermattersrequiredtoberesolvedbySpecialResolutionsunderapplicablelaws,rules

orregulations,theExchangeRulesandtheseArticles.53Subjecttoapplicablelaws,rulesorregulationsandtheExchangeRules,awrittenresolution

signedbyoronbehalfofeachMemberentitledtovoteonitatageneralmeetingshallbeaseffectiveasaresolutionpassedatageneralmeeting.TheresolutionmaybepassedusingseveralcopiesofadocumentifeachdocumentissignedbyoneormoreMembers.Thesecopiescanbefaxcopies.54Totheextentpermittedbyapplicablelaws,rulesorregulations,theExchangeRulesandthese

Articles,thegeneralmeetingmayauthorizetheBoardtoexerciseitsauthoritiesbyappropriateprocedures.

(4)ConveningofGeneralMeetings

55Theannualgeneralmeetingshallbeheldwithinsix(6)monthsaftertheendofeachofthe

Company’sfinancialyear(unlessalongerperiodwouldnotinfringeapplicablelaws,rulesorregulationsortheExchangeRules).TheannualgeneralmeetingshallbeheldatsuchtimeandatsuchplaceastheBoardshallfromtimetotimedetermine.

-18-

56TheBoardorthechairmanoftheBoardmay,atanytimeandatanyplace(eitherwithinor

outsidetheCaymanIslands)it/hedeemsappropriate,proceedtoconveneageneralmeetingoftheCompany.Inaddition,theBoardmay,initssolediscretion,determinethatthemeetingbeheldatoneormorelocationsandinsuchmannerasaPhysicalMeeting,anElectronicMeetingorthecombinationofboth.57Memberswhoindividuallyorcollectivelyholdnotlessthan10%ofthevotingrights,onaone

voteperSharebasis,oftheCompany’sSharesshallhavetherighttoproposeinwritingtheholdingofanextraordinarygeneralmeetingtotheBoard.TheBoardshall,inaccordancewithapplicablelaws,rulesorregulations,theExchangeRulesandtheseArticles,issueawrittenaffirmativeornegativeopiniontoholdsuchmeetingwithinten(10)daysuponreceivingsuchproposal.IftheBoardagreestoholdthemeeting,itshallissueanoticeofholdingageneralmeetingwithinareasonableperiodoftimeaftertherelevantBoardresolutionismade,whilesuchnoticeshallsetforthanymodificationtotheoriginalproposalthatissubjecttotheconsentoftheMembers.58IftheBoarddisagreestoholdthemeetingornofeedbackisprovidedwithinten(10)daysafter

theproposalisreceived,theMembersbeingsoentitledtomakesuchproposalmay,inaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRules,conveneandpresideoveranextraordinarygeneralmeetingontheirinitiative.59TheBoardandthesecretaryoftheBoard/Secretaryshallcooperatewithanygeneralmeeting

convenedbytheMembers.TheCompanyshallbearallnecessaryandreasonableexpensesincurredduetosuchgeneralmeetingconvenedbyMembersontheirinitiativepursuanttoArticle58.

(5)NoticeofGeneralMeetings

60NoticeofeverygeneralmeetingshallbegivenbytheCompanytoallMembersotherthansuch

persons,undertheseArticlesorthetermsofissueofShares,notentitledtoreceivesuchnoticefromtheCompany.61Thenoticeshallspecify(1)thetimeanddateofthemeeting;(2)saveforanElectronic

Meeting,theplaceofthemeetingandifthereismorethanonemeetinglocationtheprincipalplaceofthemeeting;(3)ifthegeneralmeetingistobeheldasanElectronicMeetingorahybridofPhysicalMeetingandElectronicMeeting,astatementtothateffectandrelevantdetailsoftheelectronicfacilitiesforattendanceandparticipationbyelectronicmeansatthemeeting(ortheCompanymaymakeavailablesuchdetailspriortothemeeting);(4)particularsofresolutionstobeconsideredatthemeeting;(5)intentiontoproposeanyresolutionasaSpecialResolutiontobeconsideredatthegeneralmeeting;(6)entitlementofaMembertoappointaproxytoattendthevoteatthegeneralmeetingonhisbehalfandthataproxymaynotbeaMember;and(7)andotherinformationthatshallbespecifiedtherein.62Atleasttwenty-one(21)days’writtennoticemustbegiventotheMembersofanyannual

generalmeetingandforanyothergeneralmeetings,Membersmustbegivenatleastfourteen

(14)days’writtennotice.Thenoticeconveninganannualgeneralmeetingshallincludeastatementtothateffect.Suchnoticeperiodshallbeexclusiveofthedayonwhichitisgivenordeemedtobegivenandofthedayoftherelevantmeeting.

-19-

63Whenageneralmeetingisadjournedforthirty(30)daysormore,noticeoftheadjourned

meetingshallbegivenasinthecaseofanoriginalmeeting;saveasaforesaiditshallnotbenecessarytogiveanynoticeofanadjournmentorofthebusinesstobetransactedatanadjournedgeneralmeeting.64IfanyShareisregisteredinthenamesoftwoormorepersons,thepersonfirstnamedinthe

RegisterofMembersshallbedeemedthesoleholderthereofasregardsserviceofnoticesand,subjecttotheprovisionsoftheseArticles,alloranyothermattersconnectedwiththeCompany.65Theaccidentalomissiontogivenoticeofageneralmeetingor(incaseswhereinstrumentsof

proxyaresentoutwithnotice)tosendinstrumentsofproxyto,orthenon-receiptofsuchnoticeorsuchinstrumentofproxyby,anypersonentitledtoreceivenoticeshallnotinvalidateanyproceedingoforanyresolutionpassedatthatgeneralmeeting.66AgeneralmeetingoftheCompanyshall,whetherornotthenoticehasbeengivenbythe

CompanypursuanttoArticle62orwhetherornottheprovisionsoftheseArticlesinrespectofgeneralmeetingshavebeencompliedwith,bedeemedtohavebeendulyconvenedifapplicablelaws,rulesorregulationsandtheExchangeRulessopermitanditissoagreed:

66.1Inthecaseofageneralmeetingcalledasanannualgeneralmeeting,byalltheMembers

entitledtoattendandvotethereatortheirproxies;and

66.2Inthecaseofanyothergeneralmeetings,byMembersortheirproxiesentitledtoattend

andvoteatthemeetingwhotogetherrepresentatleast95%ofthetotalvotingrightsatthemeetingofalltheMembers.67ForthepurposeofdeterminingMembersentitledtoreceivenoticeofortovoteatanygeneral

meeting,orMembersentitledtoanydividend,orinordertomakeadeterminationofMembersforanyotherproperpurpose,theBoardmay(1)providethattheRegisterofMembersbeclosedfortransfersforastatedperiodinaccordancewithArticle40above(iftheRegisterofMembersshallbesoclosedforthepurposeofdeterminingMembersentitledtoreceivenoticeofortovoteatageneralmeeting,therecorddateforsuchdeterminationshallbethedateofthelastdayoftherelevantclosureperiodoftheRegisterofMembers);or(2)fixinitssolediscretionadateastherecorddate(suchrecorddateshallnotbeearlierthansixty(60)daysbeforethedateofsuchmeetingorofanyotheraction).IftheRegisterofMembersisnotsoclosedandnorecorddateissofixed,thedateonwhichnoticeofthemeetingisgivenorthedateonwhichtheresolutionoftheBoarddeclaringsuchdividendisadopted,asthecasemaybe,shallbetherecorddateforsuchdeterminationofMembers.AdeterminationoftheMembersentitledtoreceivenoticeofortovoteatageneralmeetingasaforementionedshallapplytoanyadjournmentofsuchmeeting;provided,however,thattheBoardmayfixanewrecorddatefortheadjournedmeeting.

-20-

(6)Proxy

68Theinstrumentappointingaproxyshallbeinwritingandmaybeinanyusualorcommonform

oranyotherformastheBoardmayfromtimetotimedetermine.TheinstrumentofproxyshallbeexecutedunderthehandofaMember(oranyotherpersondulyauthorizedbysuchMemberinwriting).IfaMemberisacorporation,theinstrumentofproxyshallbeexecutedunderthehandofitsseniormanagementoranypersondulyauthorizedinwritingbysuchMember.69Theinstrumentappointingaproxymaybeexpressedtobeforaparticularmeetingorany

adjournmentthereoforgenerallyuntilrevoked.70AMembermayinitssolediscretionappointproxyorproxiestovoteasspecifiedintheproxy

instrumenton(orindefaultofinstructionsorintheeventofconflictinginstructions,toexercise

hisdiscretioninrespectof)allorpartoftheresolutionstobeproposedtothegeneralmeeting.

Aninstrumentappointingaproxyshallbedeemedtoincludethepowertojoinorvotebypoll,

andthepowertovoteonanadjournmentoranyotherproceduralmatterputtoaresolutionat

themeeting.WhereaMemberappointtwoormoreproxies,theinstrumentofproxyshallstate

thenumberandclassofSharesrepresentedbyeachproxyandwhichproxyisentitledtovote

onashowofhands.

(7)ProposedBusinesstobeTransactedatGeneralMeetings

71Nobusinessmaybetransactedatanygeneralmeeting,otherthanbusinessthatiseither:

71.1specifiedinthenoticeofmeeting(oranysupplementthereto)givenbyoratthedirection

oftheBoard(oranydulyauthorizedcommitteethereof);

71.2otherwiseproperlybroughtbeforeanannualgeneralmeetingbyoratthedirectionofthe

Board(oranydulyauthorizedcommitteethereof);or

71.3otherwiseproperlybroughtbeforeanannualgeneralmeetingbyanyMemberwho(i)isa

MemberonrecordonboththedateofgivingthenoticebysuchMemberasspecifiedinArticle73andtherecorddatefordeterminationofMembersentitledtovoteatsuchannualgeneralmeeting,and(ii)complieswiththenoticeproceduressetforthinArticle73.72Nobusinessshallbetransactedatanyadjournedmeetingotherthanthebusinesstobe

transactedatthemeetingfromwhichtheadjournmenttookplace.73AMembergivingnoticepursuanttoArticle71.3shallcomplywiththefollowingprocedures:

73.1Inadditiontocomplianceofanyotherapplicablerequirements,suchMembermusthave

giventimelynoticethereofinproperwrittenformtothesecretaryoftheBoard/Secretary.

73.2ForallmattersotherthanthenominationforelectionofaDirector,suchMember’snotice

shallbegiveninthefollowingmanners:

-21-

73.2.1

SuchMember(s)shallindividuallyorcollectivelyhold3%ormoreofthetotalnumberofSharesissuedbytheCompanywithvotingrights.

73.2.2

Tobegiventimely,thenoticeshallbedeliveredtothesecretariatattheprincipalexecutiveofficesoftheCompanynotlessthansixty(60)daysnormorethanninety

(90)dayspriortothefirstanniversaryoftheprecedingyear’sannualgeneralmeeting;provided,however,thatintheeventthatthedateoftheannualgeneralmeetingisadvancedbymorethanthirty(30)daysordelayedbymorethansixty

(60)daysfromsuchanniversarydate,thenoticemustbedeliverednotearlierthan

theninetieth(90)daypriortosuchannualgeneralmeetingandnotlaterthanthecloseofbusinessonthelaterofthesixtieth(60)daypriortosuchannualgeneralmeetingorthetenth(10)dayfollowingthedayonwhichpublicannouncementofthedateofsuchmeetingisfirstmade.

73.2.3

Tobeinproperwrittenform,thenoticemustsetforthastoeachmattersuchMemberproposestobringbeforetheannualgeneralmeeting,including(i)abriefdescriptionofthebusinessdesiredtobebroughtbeforetheannualgeneralmeetingandthereasonsfortransactingsuchbusinessattheannualgeneralmeeting;(ii)thenameandaddressofsuchMemberasrecordedintheRegisterofMembers;(iii)theclassorseriesandnumberofSharesoftheCompanywhichareownedbeneficiallyorregisteredinthenameofsuchMember;(iv)adescriptionofallarrangementsorunderstandingsbetweensuchMemberandanyotherpersonorpersons(includingtheirnames)inconnectionwiththeproposalofsuchbusinessbysuchMemberandanymaterialinterestofsuchMemberinsuchbusiness;and(v)arepresentationthatsuchMemberintendstoappearinpersonorbyproxyattheannualgeneralmeetingtobringsuchbusinessbeforethemeeting.

73.2.4

Oncetherelevantbusinesshasbeenproperlybroughtbeforetheannualgeneralmeetinginaccordancewiththeproceduresabove,nothinginArticles71to72shallbedeemedtoprecludetransactionattheannualgeneralmeetingofanysuchbusiness.Ifthechairmanoftheannualgeneralmeetingdeterminesthatsuchbusinesswasnotproperlybroughtbeforetheannualgeneralmeetinginaccordancewiththeforegoingprocedures,thechairmanshalldeclaretothemeetingthatthebusinesswasnotproperlybroughtbeforethemeetingandthusshallnotbetransacted.

73.3FornominationforelectionofaDirector,inadditiontotherequirementunderArticle

73.1,suchMember’snoticeshallbegivenincompliancewiththefollowingrequirements:

73.3.1

Foranominationofnon-independentdirectorcandidate,suchMember(s)shallindividuallyorcollectivelyhold3%ormoreofthetotalnumberofSharesissuedbytheCompanywithvotingrights;inthecaseofnominationofindependentdirectorcandidates,suchMember(s)shallindividuallyorcollectivelyhold1%ormoreofthetotalnumberofSharesissuedbytheCompanywithvotingrights.

-22-

73.3.2

IfsuchMemberisentitledtovoteonlyforaspecificclassorcategoryofdirectorsatthegeneralmeeting,hisrighttonominatepersonsforelectionasaDirectorattherelevantmeetingshallbelimitedtosuchclassorcategoryofDirectors.

73.3.3

Tobegiventimely,intheeventtheCompanycallsanextraordinarygeneralmeetingforthepurposeofelectingoneormoreDirectorstotheBoard,anyMemberentitledtovotefortheelectionofsuchDirector(s)atsuchmeetingandsatisfyingtherequirementsspecifiedabovemaynominateapersonorpersons(asthecasemaybe)forelectiontosuchposition(s)asarespecifiedintheCompany’snoticeofsuchmeeting,butonlyifthenoticerequiredthereofshallbelodgedatleastfourteen(14)dayspriortothedateofthegeneralmeetingofelectionbutnoearlierthanthedayafterdespatchofthenoticeofthegeneralmeetingappointedforsuchelection.

73.3.4

Tobeinproperwrittenform,thenoticemustsetforththefollowinginformation:

(a)AstoeachpersonsonominatedbysuchMember:(i)thename,age,business

addressandresidentialaddressoftheperson;(ii)theprincipaloccupationoremploymentoftheperson;(iii)theclassorseriesandnumberofSharesoftheCompanywhichareownedbeneficiallyorregisteredinthenameoftheperson(ifany);and(iv)anyotherinformationrelatingtothepersonthatwouldberequiredtobedisclosedpursuanttoanyExchangeRules;(b)AstotheMembergivingnotice:(i)thenameandrecordaddressofsuch

MemberasrecordedintheRegisterofMembers;(ii)theclassorseriesandnumberofSharesoftheCompanywhichareownedbeneficiallyorregisteredinthenameofsuchMember;(iii)adescriptionofallarrangementsorconsensusbetweensuchMemberandeachproposednomineeandanyotherpersonorpersons(includingtheirnames)pursuanttowhichthenomination(s)aretobemadebysuchMember;(iv)arepresentationthatsuchMemberintendstoappearinpersonorbyproxyatthegeneralmeetingtonominatetheperson(s)namedinitsnotice;and(v)anyotherinformationrelatingtosuchMemberthatwouldberequiredtobedisclosedpursuanttoanyExchangeRules.

73.3.5

ThenoticemustbeaccompaniedbyawrittenconsentofeachproposednomineetobenamedasanomineeandtoserveasaDirectorifelected.

73.3.6

NopersonshallbeeligibleforelectionasaDirectorunlessnominatedinaccordancewiththeproceduressetforthabove.Ifthechairmanofthegeneralmeetingdeterminesthatanominationwasnotmadeinaccordancewiththeforegoingprocedures,thechairmanshalldeclaretothemeetingassuchandthatsuchdefectivenominationshallbedisregarded.

-23-

73.3.7

Article73.3shallnotapplytoanynominationofaDirectorinanelectioninwhichonlytheholdersofoneormoreseriesofPreferredSharesoftheCompanyareentitledtovote(unlessotherwiseprovidedunderthetermsofissuancesuchseriesofPreferredShares).

(8)ProceedingsatGeneralMeetings

74Two(2)ormoreMembersshallbepresentatageneralmeetinginpersonorbyproxyinorder

tomeetthequorum.Nobusinessshallbetransactedatanygeneralmeetingunlessaquorumispresent.75Ifwithinonehourfromthetimeappointedforthegeneralmeetingaquorumisnotpresent,the

meeting,ifconvenedupontherequisitionofMembers,shallbedissolved;inanyothercasethemeetingshallstandadjournedtothesamedayinthenextweekatthesametimeandplaceortosuchothertimeandplaceastheBoardmaydetermine.76TheBoardmay,atitsabsolutediscretion,arrangeforpersonsentitledtoattendageneral

meetingtodosobysimultaneousattendanceandparticipationbymeansofelectronicfacilitiesatsuchoneormorelocations.AnyMemberorproxyattendingandparticipatingbymeansofelectronicfacilitiesisdeemedtobepresentatthemeetingandshallbecountedinthequorumforsuchmeeting.77TheBoardandthechairmanoftherelevantgeneralmeetingmayfromtimetotimemake

arrangementsformanagingtheattendanceand/orparticipationbyrelevantpersons,includingwithoutlimitationissueoftickets,andadoptionofentrypasscode,seatreservation,electronicvotingorothermeansasit/heshallinits/hisabsolutediscretionconsiderappropriate,withwhichthepersonsattendingtherelevantmeetingshallcomplyinfull.TheBoardandthechairmanoftherelevantgeneralmeetingmayinits/hissolediscretionchangeanysucharrangementsifnecessary,providedthatanysuchchangesdonotinvolveanycircumstancesthatwouldberequiredfortimelyadvancedisclosureorannouncementbytheCompanytopersonsattendingthemeetinginaccordancewiththeapplicablelaws,rulesorregulationsandanyExchangerules.78ThechairmanoftheBoardshallpresideasthechairmanateverygeneralmeetingofthe

Company.IfthechairmanoftheBoardisunabletopresideoverthemeetingduetowhateverreasonorhasnotshownupwithinfifteen(15)minutesafterthetimeappointedforthemeeting,theotherDirectorspresentshallelectoneoftheirnumbertobechairmanofthemeeting.IfalloftheDirectorspresentisunabletopresideoverthemeetingornoDirectorhasshownupwithinfifteen(15)minutesafterthetimeappointedforthemeeting,theMemberspresentshallchooseoneoftheirnumbertobethechairmanofthemeeting.Ifthechairmanofageneralmeetingisparticipatinginthegeneralmeetingusinganelectronicfacilityandhiscommunicationbecomesinterrupted,anotherpersonasdeterminedinaccordancewiththeproceduresaboveshallpresideasthechairmanuntiltheoriginalchairmanisabletoparticipateinandpresideoverthemeeting.

-24-

79PersonsattendingandparticipatinginanElectronicMeetingorahybridofPhysicalMeeting

andElectronicMeetingshallensureadequateelectronicfacilitiesareavailablethroughoutthemeeting.Theinabilityofoneormorepersontoaccessthemeeting,orcontinuetoaccessthemeeting,withtheelectronicfacilitiesshallnotaffectthevalidityoftheproceedingsatthemeetingoranyresolutionspassedthereon.80Thechairmanofthegeneralmeetingmay/shall,withtheconsent/directionofanygeneral

meetingdulyconvenedhereunder,andshallifsodirectedbythemeeting,adjournthemeetingfromtimetotime(orindefinitely)and/orfromplacetoplaceand/orfromoneformtoanother(aPhysicalMeeting,anElectronicMeetingoracombinationofboth).

(9)VotingbyMembersandPassingofResolutionsatGeneralMeetings

81NoMembershallbeentitledtovoteatanygeneralmeetingunlessheisregisteredasaMember

ontherecorddateforsuchmeeting.82SubjecttoanyrightsorrestrictionsforthetimebeingattachedtoanyclassofShares,every

MemberofrecordpresentinpersonorbyproxyshallhaveonevoteforeachShareregisteredin

hisnameintheRegisterofMembers.83Membersandproxiespresentatthegeneralmeetingareexpectedtovotefororagainsteach

resolutiondecidedonapoll.

Inthecaseofjointholdersofrecord,thevoteoftheseniorwhotendersavote,whetherin

personorbyproxy,shallbeacceptedtotheexclusionofthevotesofotherjointholders,andfor

thispurposeseniorityshallbedeterminedbytheorderinwhichthenamesstandintheRegister

ofMembers.84SharesthatarebeneficiallyownedbytheCompanyshallnotbevoted,eitherdirectlyor

indirectly,atanygeneralmeetingandshallnotbecountedindeterminingthetotalnumberof

outstandingsharesatanygiventime.85Thechairmanofageneralmeetingmayallowaresolutionthatrelatespurelytoaproceduralor

administrativemattertobevotedonbyashowofhands,andeachMemberorproxymaycast

onlyonevote.ForthepurposeofthisArticle,proceduralandadministrativemattersarethose

that(a)arenotontheagendaorspecifiedinthecircularofthegeneralmeeting;and(b)relate

tomaintaintheorderlyconductofthemeetingorallowthebusinessofthemeetingtobe

properlyandeffectivelydealtwith,whilstallowingallMembersareasonableopportunityto

expresstheirviews.86ObjectiontothequalificationofanyMembertovoteattherelevantgeneralmeetingshallbe

raisedatthegeneralmeetingoratanyadjournedmeetingthereof.Anysuchobjectionshallbe

referredtothechairmanofthemeetingfordeterminationwhosedecisionshallbefinaland

conclusive.Objectionnotraisedatthegeneralmeetingoranyadjournedmeetingthereofor

declinedbythechairmanshallnotaffectthevalidityofanyvotebytherelevantMemberat

suchgeneralmeeting.

-25-

CHAPTER4DIRECTORSANDTHEBOARD

(1)DirectorsAppointmentandVacationofOffice

87ThenumberofDirectorsshallbenine(9)orsuchothernumberasmaybefixedfromtimeto

timebytheBoard;provided,however,thatsolongastheSharesarelistedonanyExchange,theBoardshallincludesuchnumberofDirectors(excludingalternateDirectors)asapplicablelaws,rulesorregulationsortheExchangeRulesrequire.88TheBoardmaybyresolutionelectachairmanoftheBoard.89ApersonshallbequalifiedasDirectorasprovidedunderapplicablelaws,rulesorregulations

andtheExchangeRulestobeappointedasaDirector,butnoshareholdingqualificationisrequiredtobeheldbyaDirector.90TheBoardshallhavethepoweratanytimeandfromtimetotimetoappointanypersontobea

Director,eithertofillacasualvacancyorasanadditiontotheexistingDirectors.AnyDirectorsoappointedbytheBoardinaccordancewiththeprecedingsentenceshallholdofficeonlyuntilthefirstannualgeneralmeetingoftheCompanyafterhisappointmentandshallthenbeeligibleforre-electionatthatmeeting.91AnyDirectorappointedupontheremovalofanotherDirectoratthegeneralmeetingofthe

CompanyshallholdofficefortheremainderofthefulltermoftheremovedDirector.92SubjecttotherightsoftheholdersofanyseriesofPreferredSharestoelectDirectorsunder

specifiedcircumstances,theDirectorsshallbedividedintothreeclassesdesignatedasClassI,

ClassIIandClassIII,respectively.Directorsshallbeassignedtoeachclassinaccordancewith

aresolutionorresolutionspassedbytheBoard.Atthefirstannualgeneralmeetingofthe

CompanyaftertheadoptionoftheseArticles,thetermofofficeoftheClassIIDirectorsshall

expireandClassIIDirectorsshallbeelectedforafulltermofthreeyears.Atthesecondannual

generalmeetingoftheCompanyaftertheadoptionoftheseArticles,thetermofofficeofthe

ClassIIIDirectorsshallexpireandClassIIIDirectorsshallbeelectedforafulltermofthree

years.AtthethirdannualgeneralmeetingoftheCompanyaftertheadoptionoftheseArticles,

thetermofofficeoftheClassIDirectorsshallexpireandClassIDirectorsshallbeelectedfor

afulltermofthreeyears.AteachsucceedingannualgeneralmeetingoftheCompany,

DirectorsshallbeelectedforafulltermofthreeyearstosucceedtheDirectorsoftherelevant

classwhosetermsexpireatsuchannualgeneralmeeting.93TheofficeofaDirectorshallbevacated:

93.1IfhegivesnoticeinwritingtothechairmanoftheBoardorthesecretaryoftheBoard/

SecretarythatheresignstheofficeofDirector;

-26-

93.2IfalloftheDirectors(excludingtheDirectortoberemoved)passaresolutionorsigna

noticeeffectingtheremovalofsuchDirectorfromhisoffice,providedthattheBoardshall,immediatelypriortosuchnoticebeingdelivered,compriseatleastfour(4)persons(theDirectortoberemoved);

93.3IfheisprohibitedfrombeingaDirectorunderanyapplicablelaw,rulesorregulationsand

theExchangeRules;

93.4Ifheabsentshimself(withoutbeingrepresentedbyaproxyoranalternateDirector

appointedbyhim)fromthreeconsecutivemeetingsoftheBoardwithoutspecialleaveofabsencefromtheBoard,andtheBoardpassesaresolutionthathehasbyreasonofsuchconsecutiveabsencevacatedtheoffice;

93.5Ifhedies,becomesbankruptormakesanyarrangementorcompositionwithhiscreditors

generally;or

93.6Ifheisfoundsufferingfrommentaldisorderorbecomesofunsoundmind.

94ForremovalofDirectorsundertheseArticles,therighttoclaimcompensationordamages

payabletosuchremovedDirectorasprovidedforinanyservicecontractinrespectoftheterminationofhisappointmentasaDirectororofanyotherappointmentorofficeshallnotbeaffectedasaresultoftheterminationofhisappointmentasaDirector.95TheDirectorsinservicemayactnotwithstandinganyvacancyintheBoard,butifandsolong

astheirnumberisreducedbelowthenumberfixedbyorpursuanttoapplicablelaws,rulesorregulations,theExchangeRulesortheseArticlesasthenecessaryquorumofmeetingofDirectors,theDirectorsinservicemayactonlyforthepurposesofincreasingthenumberofDirectorstothatquorum,orofsummoningageneralmeetingoftheCompany.

(2)RemunerationandInterestsofDirectors

96TheremunerationtobepaidtotheDirectorsshallbedeterminedbytheBoardfromtimeto

timeandbedeemedtoaccruefromdaytoday.97TheBoardmaybyresolutionapproveadditionalremunerationtoanyDirectorundertakingany

specialworkorservicesfor,orundertakinganyspecialmissiononbehalfof,theCompany

otherthanhisordinaryroutineworkasaDirector.98ADirector(excludinganindependentnon-executiveDirector)mayholdanyotherofficeor

placeofprofitundertheCompany(otherthantheofficeofAuditor)inconjunctionwithhis

officeofDirectorforsuchperiodandonsuchtermsastoremunerationandotherwiseasthe

Boardmaydetermine.

-27-

99ADirector(excludinganindependentnon-executiveDirector)mayact,inrelationtomatters

outsidethescopeofdutiesofdirectors,byhimselforhisfirminaprofessionalcapacityfortheCompanyandheorhisfirmshallbeentitledtoremunerationfortheprofessionalservicesprovided.SuchremunerationshallbeinadditiontohisremunerationasaDirector.100TheBoardmayonbehalfoftheCompanypayagratuityorpensionorallowanceonretirement

toanyDirectorwhohasheldanyothersalariedofficeorplaceofprofitwiththeCompanyortohiswidowordependentsandmaymakecontributionstoanyfundsandpaypremiumsforthepurchaseorprovisionofanysuchgratuity,pensionorallowance.101Subjecttoapplicablelaws,rulesorregulationsandtheExchangeRules,aDirectororan

alternateDirectormaybeorbecomeadirector,seniormanagerorothermemberofanyothercompanyorotherwiseinterestedinanycompany,andnosuchDirectororalternateDirectorshallbeaccountabletotheCompanyforanyremunerationorotherbenefitsreceivedbyhimthereforunlessotherwisestatedundertheExchangeRules.102TheDirectorsshallbeentitledtobereimbursedfortheirtravelling,accommodationandother

expensesproperlyincurredingoingto,attendingandreturningfromthemeetingsoftheBoardorofanycommitteeoftheBoard,orthegeneralmeetingsoftheCompany,orotherwiseinconnectionwiththebusinessoftheCompany,ortoreceiveafixedallowanceinrespectthereofasmaybedeterminedbytheBoardfromtimetotime,ortoacombinationofboth.103Whereanycontract,transactionorloanrequiresapprovalfromtheBoard,thequorumnecessary

fortherelevantBoardmeetingshallbeamajorityofthedisinterestedDirectors(such“disinterestedDirectors”shallnotincludeaDirectorwhohimselforwhosecloseassociate(s)(asdefinedundertheExchangeRules)hasamaterialinterestinanysuchcontract,transactionorloan).Unlessotherwisepermittedunderapplicablelaws,rulesorregulations,theExchangeRulesandtheseArticles,aDirectorshallnotvoteonanyBoardresolutionapprovinganycontract,transaction,loanoranyotherarrangementsinwhichheoranyofhiscloseassociateshasamaterialinterest.104DirectorsoralternateDirectorsshalldeclaretheirmaterialinterestsinanycontractsor

transactionswiththeCompanyattheearliestmeetingoftheBoardatwhichitispracticableforthemtodosobywayofawrittennoticestatingthat,byreasonspecifiedinthenotice(suchasbeingshareholders,directors,seniormanagementoremployeesofotherentitiesinvolvedinsuchcontractortransaction),theyaretoberegardedasinterestedinanycontractswhichmaysubsequentlybeenteredintobytheCompany.

(3)AlternateDirectors

105AnyDirector(otherthananalternateDirector)mayappointanyotherDirector,oranyother

personwillingtoact,tobeanalternateDirectorandmayremovefromofficeanalternateDirectorsoappointedbyhim.AnyappointmentorremovalofanalternateDirectorshallbenotifiedtotheCompanyinwriting,unlesstheBoarddeterminesotherwise.

-28-

106AnalternateDirectorshallbedeemedforallpurposestobeaDirector.ThealternateDirector,

aswellastheDirectorappointingsuchalternateDirector,shallberesponsibleforthealternateDirector’sactsanddefaults.107AnalternateDirectorshallbeentitledtoreceivenoticeofallmeetingsoftheBoardandofall

meetingsofcommitteesoftheBoardofwhichhisappointorisamember,andtoattendandvoteateverysuchmeetingatwhichtheDirectorappointinghimisnotpersonallypresent,andgenerallytoperformallthefunctionsofhisappointorasaDirectorinhisabsence.108AnalternateDirectorshallceasetobeanalternateDirectorifhisappointorceasestobea

Director.

(4)AuthoritiesandDutiesoftheBoard

109Subjecttoapplicablelaws,rulesorregulations,theExchangeRulesandtheseArticles,andto

anyauthorizationgrantedatgeneralmeetingsoftheCompany,theBoardshallmanagethebusinessoftheCompanyandexerciseallthepowersoftheCompany.110SubjecttotheprovisionsoftheCompaniesActandtheseArticles,theBoardmayexercisethe

followingauthoritiesandduties:

110.1

ToformulateproposalsoftheCompanytoincreaseorreducethenumberofSharesauthorizedtobeissuedandthenumberofissuedShares;

110.2

TodecideontheissuanceofgeneralbondsbytheCompany(exceptfortheissuanceofconvertiblebondswhicharesubjecttoapprovalatthegeneralmeeting);

110.3

TodecidetoborrowmoneyandtomortgageorchargetheCompany’sundertaking,propertyanduncalledsharecapitalinwholeorinparttoraisefunds(otherthantheguaranteesprovidedunderArticle51(9));

110.4

Subjecttoprovisionsofapplicablelaws,todecideonchangeinuseoftheraisedfundsoftheCompany;

110.5

ToformulateproposalsfortheamendmentsoftheMemorandumortheseArticles;

110.6

ToformulatethegovernancepracticesandpoliciesoftheCompany;

110.7

ToformulatetheCompany’sprofitdistributionplanandlossrecoveryplan;

110.8

ToapprovetheannualfinancialbudgetplanoftheCompany;

110.9

ToapprovematerialtransactionsandrelatedorconnectedtransactionsthatshallbeapprovedbytheBoardinaccordancewithapplicablelaws,rulesorregulations,theExchangeRulesandotherrequirements;

-29-

110.10

ToapprovetheprovisionofguaranteesbytheCompanytoenterpriseswithinthescopeoftheCompany’sconsolidatedfinancialstatementswhicharenot“connectedpersons”undertheRulesGoverningtheListingofSecuritiesonTheStockExchangeofHongKongLimited;

110.11

ToappointanypersontobeaDirector,eithertofillacasualvacancyorasanadditiontotheexistingDirectors,providedthatthetotalnumberofDirectors(excludingalternateDirectors)shallnotexceedthatfixedundertheseArticles;

110.12

TodecideontheremunerationofDirectors;

110.13

TodecideontheappointmentanddismissaloftheCompany'schiefexecutiveofficer,thesecretaryoftheBoard,theperson-in-chargeoffinanceandotherseniormanagement,anddecideonmattersoftheirremuneration,rewardsandpunishments;

110.14

ToproposetothegeneralmeetingtoappointorchangetheAuditorsoftheCompany;

110.15

Toconveneageneralmeetingandcarryoutaresolutionpassedatthegeneralmeeting;and

110.16

Otherauthoritiesanddutiesstipulatedbyapplicablelaws,rulesorregulations,theExchangeRules,theseArticlesandotherrequirements.111Allcheques,promissorynotes,drafts,billsofexchangeandothernegotiableinstrumentsandall

receiptsformoniespaidtotheCompanyshallbesigned,drawn,accepted,endorsedorotherwiseexecutedasthecasemaybeinsuchmannerastheBoardshalldeterminebyresolutionorinaccordancewiththeinternalrulesandregulationsoftheCompany.

(5)DelegationofthePoweroftheBoard

112TheBoardmaysetupanycommitteesconsistingofoneormoreDirectors,orappointany

personasitsagentformanagingtheaffairsoftheCompany,andmayappointanypersontobeamemberoftheaforementionedcommittees.113TheBoardmaydelegateanyofitspowerstoanycommitteeoftheBoardassetupin

accordancewithArticle112.Totheextentapplicable,theproceedingsofacommitteeoftheBoardshallbegovernedbytheArticlesregulatingtheproceedingsoftheBoard.114Totheextentpermittedbyapplicablelaws,rulesorregulations,andtheExchangeRules,the

BoardmayauthorizetheseniormanagementoftheCompanytoexerciserelevantauthoritiesanddutiesthereofthroughappropriateprocedures,ordelegatetoanyDirectorholdinganyseniormanagementpositionsuchoftheirpowersastheyconsiderdesirabletobeexercisedbyhim.115AnysuchdelegationinaccordancewithArticles112to114maybemadebytheBoardsubject

toanyconditionstheBoardmayimpose,andeithercollaterallywithortotheexclusionoftheirownpowersandmayberevokedoraltered.

-30-

116TheBoardmayappointanycompany,firm,personorbodyofpersonstobetheagentofthe

Companyanddelegatesuchpowers,authoritiesanddiscretions(notexceedingthosevestedinorexercisablebytheBoardundertheseArticles)andforsuchperiodandsubjecttosuchconditionsastheBoardmaythinkfit;provided,however,thatsuchdelegationisnottotheexclusionoftheBoard’sownpowersandmayberevokedbytheBoardatanytime.

(6)NoticeofBoardMeetings

117UnlessotherwiseprovidedbytheseArticles,theBoardshallmeettogetherforthetransactionof

business,convening,adjourningandotherwiseregulatingBoardmeetingsinitsabsolutediscretion.118Noticeofatleastfourteen(14)daysshallbegiventoeachDirectorandalternateDirectorfor

anyregularBoardmeeting,andforothermeetingsoftheBoard,noticeshallbegiventoeachDirectorandalternateDirectoratleasttwo(2)daysbeforethedateofthemeeting.AnyaccidentalomissiontogivenoticeofameetingoftheBoardto,orthenon-receiptofnoticeofameetingbyanypersonentitledtoreceivenoticeshallnotinvalidatetheproceedingsofthatmeeting.119ThechairmanoftheBoardoranytwoDirectorsmay,andthesecretaryoftheBoard/Secretary

onthedirectionofsuchpersons,shallissueanoticeofmeetingtoeachDirectorandalternateDirectorbytelephoneorelectronicemailduringnormalbusinesshours,whilstsuchnoticeshallsetforththebusinesstobeconsidered.NoticegivenasaforesaidshallbedeemedtohavebeengivenonthedayitisdeliveredtotheDirectors.NonoticeofBoardmeetingshallberequiredifsuchnoticeiswaivedbyalltheDirectors(orthealternateDirectors)eitheratthemeeting,orbeforeorafterthemeetingisheld.

(7)ProceedingsatBoardMeetings

120AdulyconvenedmeetingoftheBoardatwhichaquorumispresentmayexerciseallpowersof

theBoard.121ThequorumnecessaryfortransactionofbusinessattheBoardmeetingshallbepresentifmore

thanhalfofallDirectors,ofwhomatleastoneshallbeanexecutiveDirector,arepresentin

personorbyproxy.122ADirectormayparticipateinaBoardmeetingbymeansofElectronicCommunication,andthe

Directorsoparticipatingshallbedeemedasbeingpresentinpersonandshallbecountedinthe

quorumandbeentitledtovote.123ADirector(otherthananalternateDirector)maybynoticeinwritingappointanotherDirector

ashisproxytoattendtheBoardmeeting,andtheproxysoappointedshallbecountedinthe

quorumpresentatsuchBoardmeetingatwhichtheDirectorappointinghimisnotpresent.124ABoardmeetingatwhichaquorumisinitiallypresentmaycontinuetotransactbusiness

notwithstandingthewithdrawalofDirectorsduringthecourseofmeeting.

-31-

125ThechairmanoftheBoardshallpresideovereveryBoardmeeting,providedthat,however,ifat

anymeetingthechairmanoftheBoardisnotpresentwithinfive(5)minutesafterthetimeappointedforholdingsuchmeeting,theDirectorspresentmayjointlyelectoneoftheirnumbertopresideoverthemeeting.

(8)VotingandResolutionsatBoardMeetings

126ExceptasotherwiseprovidedbytheseArticles,resolutionsputbeforeanyBoardmeetingshall

bedecidedbyamajorityofvotesofallDirectors(includingalternateDirectors)presentandvoteatsuchBoardmeeting.OneDirectorshallhaveonevotewhenvotingontheBoardresolutions.127WhereaDirectorisrelatedtoorconnectedwithenterprisesinvolvedintheresolutionofthe

BoardattheBoardmeeting,therelatedorconnectedDirectorshallneithervoteontheresolutionnorexercisevotingrightsonbehalfofotherDirectors.Themajorityofunrelatedornon-connectedDirectorsshallbepresentatsuchBoardmeetingandtheresolutionsproposedatsuchBoardmeetingshallbeadoptedbymajorityofunrelatedornon-connectedDirectors.Iftherearelessthanthreeunrelatedornon-connectedDirectorsattendingtheBoardmeeting,theCompanyshallsubmitthemattertothegeneralmeetingfordeliberation.128GuaranteeswithinthescopeofauthorityoftheBoardshall,inadditiontobeingapprovedby

themajorityofallDirectors,beapprovedbymorethantwo-thirdsoftheDirectorsattendingtheBoardmeeting.129WheretheBoardapprovemattersrelatingtosharerepurchaseinaccordancewithrequirements

oftherelevantlawsandregulationsofMainlandChinaortheauthorizationofthegeneralmeeting,theresolutionshallbepassedatameetingoftheBoardatwhichatleasttwothirds(2/

3)ofDirectorsshallbepresent.

130ADirectoroftheCompanywhoispresentatameetingoftheBoardatwhichactiononany

CompanymatteristakenshallbepresumedtohaveassentedtotheactiontakenunlesshisdissentshallbeenteredintheMinutesofthemeetingorunlessheshallfilehiswrittendissentfromsuchactionwiththesecretaryoftheBoard/Secretarybeforetheadjournmentofsuchmeetingorshallforwardsuchdissentbyregisteredmailtosuchsecretaryimmediatelyaftertheadjournmentofthemeeting.SuchrighttodissentshallnotapplytoaDirectorwhovotedinfavourofsuchaction.131AllactsdonebyanymeetingoftheBoardorofacommitteeoftheBoardshall,

notwithstandingthatitbeafterwardsdiscoveredthattherewassomedefectintheappointmentofanyDirectororalternateDirector,orthatanyDirectororalternateDirectorwasdisqualified,beasvalidasifeverysuchpersonhadbeendulyappointedandqualifiedtobeaDirectororalternateDirectorasthecasemaybe.132Aresolutioninwriting(inoneormorecounterparts),signedbyalltheDirectorsorallmembers

ofacommitteeoftheBoardwhoatthetimeareentitledtoreceivenoticeofsuchBoardmeetingandvoteontheresolutionthereon,shallbeasvalidandeffectualasifithadbeenpassedatameetingoftheBoardorcommittee(asthecasemaybe)dulyconvenedandheld.

-32-

133NoamendmentoftheMemorandumortheArticlesandnosuchresolutionpassedatthegeneral

meetingshallinvalidateanypriorresolutionoftheBoardwhichwouldhavebeenvalidifthatamendmenthadnotbeenmadeorsuchresolutionhadnotbeenpassed.

CHAPTER5SENIORMANAGEMENTANDSECRETARY134TheBoardmayfromtimetotimeappointoneormorechairmanoftheBoard,president,chief

executiveofficer,chieffinancialofficerandsuchotherseniormanagersasitconsidersnecessaryinthemanagementofthebusinessoftheCompanyanditmaydecideforsuchperiodanduponsuchtermsasitthinksfitanduponsuchtermsastoremunerationasitmaydecideinaccordancewiththeseArticles.135EveryDirectorappointedtoanofficeofseniormanagementundertheaboveArticleshall,

withoutprejudicetoanyrighttoclaimfordamagesthatsuchDirectormayhaveagainsttheCompanyortheCompanymayhaveagainstsuchDirectorforanybreachofanycontractofservicebetweensuchDirectorandtheCompany,beliabletobedismissedorremovedfromsuchseniormanagementofficebytheBoard.136ADirectorappointedtoanofficeofseniormanagementundertheaboveArticleshallipsofacto

andimmediatelyceasetoholdsuchseniormanagementofficeifheshallceasetoholdtheofficeofDirectorforanycause.137SubjecttotheCompaniesActandanyapplicablelaws,rulesorregulationsandtheExchange

Rules,theBoardmayappointtheSecretary/secretaryoftheBoardforsuchtermandonsuchconditionsasitmayconsiderappropriate.

CHAPTER6FINANCIALINFORMATION,PROFITDISTRIBUTIONANDAUDIT

(1)FinancialInformation

138TheBoardshallcauseproperbooksofaccounttobekeptwithrespecttoallsumsofmoney

receivedandexpendedbytheCompanyandthemattersinrespectofwhichthereceiptorexpendituretakesplace,allsalesandpurchasesofgoodsbytheCompanyandtheassetsandliabilitiesoftheCompany.ProperbooksshallnotbedeemedtobekeptiftheyarenotkeptastogiveatrueandfairviewofthestateoftheCompany’saffairsandtoexplainitstransactions.139TheBoardshallcausetobepreparedandtobelaidbeforetheMembersoftheCompanyat

everyannualgeneralmeeting(1)aprofitandlossaccounttogetherwithabalancesheetoftheCompanyforthelastfinancialyear;(2)amanagement’sreportwithrespecttotheCompany’sfinancialposition;(3)theAuditors’reportonsuchaccountspreparedpursuanttotheseArticles;and(4)suchotherreportsandaccountsasmayberequiredbyapplicablelaws,rulesorregulationsandtheExchangeRules.

-33-

140CopiesofsuchdocumentstobelaidbeforetheMembersoftheCompanyatanannualgeneral

meeting(togetherwiththenoticeofmeeting)shallbeservedbytheCompanytoeachMemberatleasttwenty-one(21)dayspriortothedateappointedforsuchmeetingandinsuchmannerasprescribedintheArticlesinconnectionwithgivingnoticeofmeeting.TheCompanyshallnotberequiredtosendsuchcopiestoanyMemberofwhoseaddresstheCompanyisnotaware.141TherequirementtosendtoapersonsuchcopiesofdocumentsasreferredtoinArticle140

undertheheadingof“FINANCIALINFORMATION”shallbedeemedsatisfiedwhere,inaccordancewithapplicablelaws,rulesorregulationsandtheExchangeRules,theCompanyhaspublishedsuchcopiesasreferredtoinArticle140ontheCompany’scomputernetworkorinanyotherpermittedmanner(includingbyformofElectronicCommunication),andthatpersonhasagreedtotreatthepublicationofthedocumentsintheforegoingmannerstobedeemedtodischargetheCompany’sobligationstosendtohimcopiesofsuchdocumentsundertheaforesaidArticle.142UnlessotherwisedeterminedbytheBoard,thefinancialyearoftheCompanyshallendonthe

31stdayofDecemberineachyear.

(2)ProfitDistribution

143AfteraprofitdistributionplanisapprovedbyanOrdinaryResolutionatageneralmeeting,the

BoardmaydeclaredividendstobepaidtoMembersoutoftheprofits(whetherrealizedorunrealized)orthesharepremiumaccountoftheCompanyorotherassetsaspermittedundertheCompaniesAct.144TheCompanymay,beforedeclaringandpayinganydividends,setasidesuchsumsasthe

CompanymaydeemproperasreservesprovidedthattheprofitdistributionplanasapprovedbyanOrdinaryResolutionatthegeneralmeetingiscompliedwith.TheBoardmay,atitssolediscretion,determinetoemploysuchreserveintheoperationofthebusinessoftheCompany.145TheCompanymaydeclarethatanydividendbepaidwhollyorpartlybydistributionofspecific

assets,includingwithoutlimitationpaidupshares,debentures,ordebenturestockofanyothercompanyheldbytheCompany,andissueoffractionalShares,providedthattheprofitdistributionplanasapprovedbyanOrdinaryResolutionatthegeneralmeetingiscompliedwith.Inaddition,theBoardmaysettledividendpaymentinmannersastheythinkexpedientandinparticular,mayissuefractionalsharecertificatesandfixthevaluefordistributionofsuchspecificassetsoranypartthereofandmaydeterminethatcashpaymentsshallbemadetoanyMembersuponthefootingofthevaluesofixedinordertoadjusttherightsofallMembersandmaycreatetrustsinrespectofsuchspecificassetsfromdividendpaymentvestanysuchspecificassetsintrustformanagementbythetrusteesasmayseemexpedienttotheBoard.146UpontherecommendationoftheBoard,theCompanymaybyOrdinaryResolutionauthorizethe

BoardtocapitalizeanysumstandingtothecreditofanyoftheCompany’sreserveaccounts(includingsharepremiumaccountandcapitalredemptionreservefund)oranysumstandingtothecreditofprofitandlossaccountorotherwiseavailablefordistributionandtoappropriatesuchsumfordistributiontoMembersintheproportionsinwhichsuchsumwouldhavebeendivisibleamongstthemhadthesamebeenadistributionofprofitsbywayofdividendandtoapplysuchsumontheir

-34-

behalfinpayingupinfullunissuedSharesforallotmentanddistributioncreditedasfullypaiduptoandamongsttheMembersintheproportionaforesaid.InsucheventtheBoardshalltakeallnecessaryactiontogiveeffecttosuchcapitalisation.TheBoardmayinitsabsolutediscretionmakesuchprovisionsasitthinksfitforthecaseofsharesbecomingdistributableinfractions(includingprovisionswherebythebenefitoffractionalentitlementsaccruetotheCompanyratherthantotheMembersconcerned).TheBoardmayauthorizeanypersontoenteronbehalfofalloftheMembersinterestedintoanagreementwiththeCompanyprovidingforsuchcapitalisationandmattersincidentaltheretoandanyagreementmadeundersuchauthorityshallbeeffectiveandbindingonallpersonsconcerned.147Subjecttothespecialrights,ifany,ofcertainholdersofSharesastodividendpayment,

dividendsshallbedistributedinaccordancewiththeamountspaidorcreditedaspaidontheSharesattherelevantrecorddate.ForthepurposeofthisArticle,noamountpaidorcreditedaspaidonashareinadvanceofcallsshallbetreatedaspaidontheShare,whilstinterestmayaccruetherefor.148WithrespecttodistributionofdividendstoholdersofPreferredShares,nodividendshallbe

declaredandsetasideforpaymentonanyseriesofPreferredSharesinrespectofanyDividendPeriodunlessthereshalllikewisebeorhavebeenpaid,ordeclaredandsetasideforpayment,onallPreferredSharesofeachotherseriesentitledtocumulativedividendsatthetimeoutstandingwhichrankseniororequallyastodividendswiththeseriesinquestion,dividendsratablyinaccordancewiththesumswhichwouldbepayableonthesaidPreferredSharesthroughtheendofthelastprecedingDividendPeriodifalldividendsweredeclaredandpaidinfull.149TheBoardmaydeductfromanydividendpayabletoanyMemberallsumsofmoney(ifany)

presentlypayablebyhimtotheCompanyonaccountofcallsorotherwise.150Anydividend,interestorothermoniespayableincashinrespectofSharesmaybepaidby

chequeorwarrantpostdirectlytotheregisteredaddressoftheholderor,inthecaseofjoint

holders,totheholderwhoisfirstnamedontheRegisterofMembersortosuchpersonandto

suchaddressassuchholderorjointholdersmayinwritingdirect.Everysuchchequeorwarrant

shallbemadepayabletotheorderofthepersontowhomitissent.

TheCompanymayceasesendingsuchchequesfordividendentitlementsordividendwarrantsif

suchchequesorwarrantshavebeenleftuncashedontwo(2)consecutiveoccasions.However,

theCompanymayexerciseitspowertoceasesendingchequesfordividendentitlementsor

dividendwarrantsafterthefirstoccasiononwhichsuchachequeorwarrantisreturned

undelivered.151NodividendshallbearinterestagainsttheCompany.152TheCompanyshallcomplywithrequirementsonforeignexchangemanagementinMainland

ChinaforthepaymentofdividendstoholdersofRMBCommonShares,andshallwithholdand

remittaxpayableonincomeofindividualMembersfromsuchdividendsinaccordancewith

requirementsofthetaxlawinMainlandChina.

-35-

(3)AppointmentandDutiesofAuditors

153AppointmentofAuditorsandmattersinrelationtheretoshallbeconductedincompliancewith

applicablelaws,rulesorregulationsandtheExchangeRules.154TheAuditorsshallaudittheannualfinancialstatementsoftheCompanyandshallpreparea

reportthereontobeannexedthereto.SuchreportshallbelaidbeforetheCompanyatitsannual

generalmeetingineachyearandshallbeopentoinspectionbyanyMember.155AuditorsshallmakeareportontheaccountsoftheCompanyatthefirstannualgeneralmeeting

followingtheirappointmentandatanyothergeneralmeetingandatanytimeduringtheir

tenureofofficeifsorequiredbytheBoardorbytheMembers.

CHAPTER7WINDINGUP

156IftheCompanyshallbewounduptheliquidatormay,withthesanctionofaSpecialResolution

oftheCompanyandsubjecttotheCompaniesAct,divideamongsttheMembersinkindthe

wholeoranypartoftheassetsoftheCompany(whethertheyshallconsistofpropertyofthe

samekindornot)andmayforthatpurposevalueanyassetsanddeterminehowthedistribution

shallbecarriedoutasbetweentheMembersordifferentclassesofMembers.Theliquidator

may,withthelikesanction,establishtrustsforthewholeoranypartofsuchassetsfor

managementbythetrusteesuponsuchtrustsforthebenefitofMembersastheliquidatorshall

thinkfit,butsothatnoMembershallbecompelledtoacceptanyassetuponwhichthereisa

liability.157IftheCompanyshallbewoundup,andtheassetsavailablefordistributionamongstthe

Membersshallbeinsufficienttorepaythewholeofthepaidupcapital,suchassetsshallbe

distributedsothat,asnearlyasmaybe,thelossesshallbebornebytheMembersinproportion

totheparvalueoftheSharesheldbythem.Ifinawindinguptheassetsavailablefor

distributionamongsttheMembersshallbemorethansufficienttorepaythewholeofthepaid

upcapitalatthecommencementofthewindingup,thesurplusshallbedistributedamongstthe

MembersinproportiontotheparvalueoftheSharesheldbythematthecommencementofthe

windingupsubjecttoadeductionfromthoseSharesinrespectofwhichtherearemoniesdue,

ofallmoniespayabletotheCompanyforunpaidcallsorotherwise.ThisArticleshallbe

withoutprejudicetotherightsconferredontheholdersofSharesissueduponspecialtermsand

conditions.158If,uponthewindingupoftheCompany,theassetsoftheCompanydistributableamongthe

holdersofanyoneormoreseriesofPreferredShareswhich(1)areentitledtoapreferenceover

theholdersofCommonSharesuponsuchwindingup,and(2)rankequallyinconnectionwith

anysuchdistribution,shallbeinsufficienttopayinfullthepreferentialamounttowhichthe

holdersofsuchPreferredSharesshallbeentitled,thensuchassets,ortheproceedsfromthe

salethereof,shallbedistributedamongtheholdersofeachsuchseriesofthePreferredShares

ratablyinaccordancewiththesumswhichwouldbepayableonsuchdistributionifallsums

payableweredischargedinfull.

-36-

CHAPTER8INDEMNITY159EveryDirector,secretaryorotherseniormanagementforthetimebeingandfromtimetotime

oftheCompany(butnotincludingtheCompany’sauditors)andthepersonalrepresentativesofthesame(eachan“IndemnifiedPerson”)shallbeindemnifiedandsecuredharmlessbytheCompanyagainstallactions,proceedings,costs,charges,expenses,losses,damagesorliabilitiesincurredorsufferedbysuchIndemnifiedPerson,otherthanbyreasonofsuchIndemnifiedPerson’sowndishonesty,willfuldefaultorfraud,inorabouttheconductoftheCompany’sbusinessoraffairsorintheexecutionordischargeofhisduties,powers,authoritiesordiscretions,includingwithoutprejudicetothegeneralityoftheforegoing,anycosts,expenses,lossesorliabilitiesincurredbysuchIndemnifiedPersonindefending(whethersuccessfullyorotherwise)anycivilproceedingsconcerningtheCompanyoritsaffairsinanycourtwhetherintheCaymanIslandsorelsewhere.

CHAPTER9NOTICES160NoticesshallbeinwritingandshallbegivenbytheCompanyinaccordancewithapplicable

law,rulesorregulationsandtheExchangeRules.161Intheeventthatnosuchcode,rulesandregulationsreferredtointheaboveArticleapplies,

noticesshallbegiveninaccordancewiththefollowingprovisions:

161.1

NoticestoanyMembershallbegiveneitherpersonallyorbypost,emailorotherformofElectronicCommunicationtohimortohisaddressasshownintheRegisterofMembers(orwherethenoticeisgivenbyemailbysendingittotheemailaddressprovidedbysuchMember);

161.2

NoticesmayalsobegivenorissuedbytheCompanybypublishingitontheCompany’swebsitetowhichtherelevantpersonmayhaveaccess,subjecttotheCompanycomplyingwithanyapplicablelaws,rulesorregulationsandtheExchangeRulesfromtheninforcewithregardtoanyrequirementsfortheobtainingofconsent(ordeemedconsent)fromsuchpersonand/orforgivingnotificationtoanysuchpersonstatingthatthenotice,documentorpublicationisavailableontheCompany’scomputernetworkwebsite(a“noticeofavailability”).ThenoticeofavailabilitymaybegivenbyanyofthemeanssetoutaboveotherthanbypostingitontheCompany’swebsite;

161.3

Whereanoticeissentbypost,serviceofthenoticeshallbedeemedtobeeffecteduponwhichtheenvelopecontainingthesameisproperlyaddressed,pre-paidandputintothepost,andshallbedeemedtohavebeenservedonthedayfollowingthatdayonwhichthenoticewasposted.Whereanoticeisgivenbyemail,theserviceshallbedeemedtobeeffectedbytransmittingtheemailtotheemailaddressprovidedbytheintendedrecipientandshallbedeemedtohavebeenreceivedonthesamedayonwhichitwassent,anditshallnotbenecessaryforthereceiptoftheemailtobeacknowledgedbytherecipient.SubjecttoArticle161.2,anoticepublishedontheCompany’swebsiteorthewebsiteofanExchangeisdeemedgivenbytheCompanytoaMemberonthedayfollowingthatonwhichanoticeofavailabilityisdeemedservedontheMember;

-37-

161.4

WhereoneormorepersonsbecomeentitledtoSharesinconsequenceofthedeathorbankruptcyofaMember,theCompanymaygivethenoticeinanymannerinwhichthesamemighthavebeengivenifthedeathorbankruptcyofsuchMemberhadnotoccurred.162AMembershallbeentitledtohavenoticeservedonhimatanyaddresswhichhehasnotified

theCompany,whetherwithinoroutsidetheCaymanIslands.163AfterlistingonShanghaiStockExchange,theCompanyshallmakeannouncementaccordingto

requirementsofCSRCandShanghaiStockExchange.NoticesissuedbytheCompanyto

holdersofRMBCommonSharesshall,inadditiontoserviceofNoticestoallMembersin

accordancewithArticles160to161,beatthesametimeannouncedonmediadesignatedby

CSRC.Oncetheannouncementisreleased,itwillbedeemedthatallholdersofRMBCommon

Shareshavereceivedsuchnotice.

CHAPTER10MISCELLANEOUS

(1)Seal

164TheCompanymay,iftheBoardsodetermines,haveaSealasauthorizedbytheBoardinthat

behalf.EveryinstrumenttowhichtheSealhasbeenaffixedshallbesignedbyonepersonwho

shallbeeitheraDirectororthesecretaryoftheBoardorsomeotherpersonauthorizedbythe

Boardforsuchpurpose.TheSealshallnotbeusedwithoutauthorityoftheBoard.165TheCompanymayhaveforuseinanyplaceorplacesoutsidetheCaymanIslandsoneormore

duplicateSealseachofwhichshallbeafacsimileoftheCommonSealoftheCompany.Ifthe

Boardsodetermines,theCompanymayaddonthefaceoftheduplicateSealthenameofthe

placewhereitistobeused.166ADirector,SecretaryorotherseniormanagermaywithoutfurtherauthorityoftheBoardaffix

theSealoftheCompanyoverhissignaturealonetoanydocumentoftheCompanyrequiredto

beauthenticatedbyhimunderSealortobefiledwiththeRegistrarofCompaniesinthe

CaymanIslandsorelsewherewheresoever.

(2)TransferbywayofContinuation

167IftheCompanyisanexemptedcompanyasdefinedintheCompaniesAct,itshall,subjectto

theprovisionsoftheCompaniesActandwiththesanctionofaSpecialResolution,havethe

powertoregisterbywayofcontinuationasabodycorporateunderthelawsofanyjurisdiction

outsidetheCaymanIslandsandtobederegisteredintheCaymanIslands.

-38-