<SEC-DOCUMENT>0000950127-21-000032.txt : 20210317
<SEC-HEADER>0000950127-21-000032.hdr.sgml : 20210317
<ACCEPTANCE-DATETIME>20210317171307
ACCESSION NUMBER:		0000950127-21-000032
CONFORMED SUBMISSION TYPE:	F-6
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20210317
DATE AS OF CHANGE:		20210317

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Hywin Holdings Ltd.
		CENTRAL INDEX KEY:			0001785680
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		F-6
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-254412
		FILM NUMBER:		21751489

	BUSINESS ADDRESS:	
		STREET 1:		F3, HYWIN FINANCIAL CENTRE
		STREET 2:		8 YINCHENG MID. ROAD, PUDONG NEW DIST.
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200120
		BUSINESS PHONE:		8602180133888

	MAIL ADDRESS:	
		STREET 1:		F3, HYWIN FINANCIAL CENTRE
		STREET 2:		8 YINCHENG MID. ROAD, PUDONG NEW DIST.
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200120

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Deutsche Bank Trust Co Americas/ ADR Group
		CENTRAL INDEX KEY:			0001471515
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-6

	BUSINESS ADDRESS:	
		STREET 1:		60 WALL STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		212-319-7600

	MAIL ADDRESS:	
		STREET 1:		60 WALL STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-6
<SEQUENCE>1
<FILENAME>21-13_f-6.htm
<DESCRIPTION>F-6 REGISTRATION STATEMENT
<TEXT>
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          <td style="width: 77.59%; vertical-align: top;">
            <div style="font-weight: bold;">As filed with the Securities and Exchange Commission on March 17, 2021</div>
          </td>
          <td style="width: 22.41%; vertical-align: top;">
            <div style="font-weight: bold;">Registration No. 333-&#160;</div>
          </td>
        </tr>

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      <div style="margin-bottom: 3pt;">
        <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
        <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Washington, D.C.&#160;&#160;20549</div>
      </div>
      <div style="text-align: center;">
        <hr noshade="noshade" align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
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    <div style="font-size: 14pt; font-weight: bold; text-align: center;">FORM F-6</div>
    <div style="text-align: center; font-weight: bold;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 FOR</div>
    <div style="text-align: center; font-weight: bold;">AMERICAN DEPOSITARY SHARES EVIDENCED BY AMERICAN DEPOSITARY RECEIPTS</div>
    <div style="text-align: center; margin-bottom: 3pt;">
      <hr noshade="noshade" align="center" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">HYWIN HOLDINGS LTD.</div>
    <div style="text-align: center;">(Exact name of issuer of deposited securities as specified in its charter)</div>
    <div style="text-align: center; margin-bottom: 3pt;">___________</div>
    <div style="text-align: center; font-weight: bold;">Not Applicable</div>
    <div style="text-align: center;">(Translation of issuer&#8217;s name into English)</div>
    <div style="text-align: center; margin-bottom: 3pt;">
      <hr noshade="noshade" align="center" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; font-weight: bold;">Cayman Islands</div>
    <div style="text-align: center; margin-bottom: 3pt;">(Jurisdiction of incorporation or organization of issuer<font style="font-weight: bold;">)</font></div>
    <div>
      <div style="margin-bottom: 3pt; text-align: center;">
        <hr noshade="noshade" align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 3pt; font-weight: bold;">Deutsche Bank Trust Company Americas</div>
    <div style="text-align: center; margin-bottom: 12pt;">(Exact name of depositary as specified in its charter<font style="font-weight: bold;">)</font></div>
    <div style="text-align: center; font-weight: bold;">60 Wall Street</div>
    <font style="font-weight: bold;"> </font>
    <div style="text-align: center; font-weight: bold;">New York, New York 10005</div>
    <div style="text-align: center; font-weight: bold;">(212) 250-9100</div>
    <div style="text-align: center;">(Address, including zip code, and telephone number, including area code, of depositary&#8217;s principal executive offices)</div>
    <div style="text-align: center; margin-bottom: 3pt;">
      <hr noshade="noshade" align="center" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center;">Cogency Global Inc.</div>
    <div style="text-align: center;">122 East 42nd Street, 18th Floor</div>
    <div style="text-align: center;">New York, New York 10168</div>
    <div style="text-align: center;">+1 (800) 221-0102</div>
    <div style="text-align: center; margin-bottom: 2pt;">(Address, including zip code, and telephone number, including area code, of agent for service)</div>
    <div>
      <div style="text-align: center;">
        <hr noshade="noshade" align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 3pt; margin-bottom: 6pt;">Copies to:</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z9340abc8364e459cbe50e64bf401efe8">

        <tr>
          <td style="width: 33.33%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Meng Ding, Esq.</div>
            <div style="text-align: center; font-weight: bold;">Sidley Austin LLP</div>
            <div style="text-align: center; font-weight: bold;">39<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor, Two International Finance Centre</div>
            <div style="text-align: center; font-weight: bold;">8 Finance Street</div>
            <div style="text-align: center; font-weight: bold;">Central, Hong Kong</div>
            <div style="text-align: center; font-weight: bold;">+(86) 2509-7888</div>
          </td>
          <td style="width: 33.33%; vertical-align: top;">&#160;</td>
          <td style="width: 33.33%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Francis Fitzherbert-Brockholes, Esq.</div>
            <div style="text-align: center; font-weight: bold;">White &amp; Case LLP</div>
            <div style="text-align: center; font-weight: bold;">5 Old Broad Street<br>
              London EC2N 1DW<br>
              United Kingdom</div>
            <div style="text-align: center; font-weight: bold;">+(44) 20 7532-1400</div>
          </td>
        </tr>

    </table>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zca2de7df06124f43ac037696583cbaa1">

        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>It is proposed that this filing become effective under Rule 466:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div style="text-align: justify;">&#9744; immediately upon filing.</div>
            <div>&#9744; on (Date) at (Time).</div>
          </td>
        </tr>

    </table>
    <div style="margin-top: 3pt; margin-bottom: 3pt;">If a separate registration statement has been filed to register the deposited shares, check the following box :&#160;&#160;&#9746;</div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    </div>
    <div style="text-align: center; font-weight: bold;">CALCULATION OF REGISTRATION FEE</div>
    <div style="font-weight: bold;">
      <table cellspacing="0" cellpadding="0" id="z45d9093107f04ad292787b57f183cfd4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 25.63%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Title of each class<br>
                of Securities to be registered</div>
            </td>
            <td style="width: 17.72%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Amount to be registered</div>
            </td>
            <td style="width: 22.11%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Proposed<br>
                maximum aggregate price per unit <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 21.24%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Proposed<br>
                maximum aggregate offering price <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
            </td>
            <td style="width: 13.31%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Amount of registration fee</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25.63%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman',Times,serif;">American Depositary Shares, each representing two ordinary shares of</div>
              <div style="font-family: 'Times New Roman',Times,serif;">Hywin Holdings Ltd.</div>
            </td>
            <td style="width: 17.72%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">50,000,000 American Depositary Shares</div>
            </td>
            <td style="width: 22.11%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">$0.05</div>
            </td>
            <td style="width: 21.24%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">$2,500,000</div>
            </td>
            <td style="width: 13.31%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">$272.75</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 9pt;">
      <table cellspacing="0" cellpadding="0" border="0" id="ze88954b90c60494baa19ab21ad5bbe5e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 3%; vertical-align: top;">
              <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="width: 94.46%; vertical-align: top;">
              <div style="text-align: justify; font-size: 8pt;">For the purpose of this table only the term &#8220;unit&#8221; is defined as one American Depositary Share.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="margin-bottom: 9pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd6f8b6d670454b8780fc175223c98781">

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          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: justify; font-size: 8pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td style="width: 95.59%; vertical-align: top;">
            <div style="text-align: justify; font-size: 8pt;">Estimated solely for the purpose of calculating the registration fee.&#160; Pursuant to Rule 457(k), such estimate is computed on the basis of the maximum aggregate fees or charges to be imposed in
              connection with the issuance of American Depositary Shares.</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 9pt;"><br>
    </div>
    <div style="text-align: justify; margin-bottom: 9pt; font-weight: bold;">The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment
      which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the
      United States Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</div>
    <div style="text-align: justify; margin-bottom: 9pt;">This registration statement may be executed in any number of counterparts, each of which shall be deemed an original, and all of such counterparts together shall constitute one and the same
      instrument.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="margin-bottom: 10pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">PART I<br>
      <br>
      INFORMATION REQUIRED IN PROSPECTUS</div>
    <div style="text-align: justify; margin-bottom: 9pt;">The prospectus consists of the proposed form of American Depositary Receipt (&#8220;Receipt&#8221;) included as Exhibits A and B to the form of Deposit Agreement filed as Exhibit (a) to this registration
      statement and is incorporated herein by reference.</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zf52473ec80c34fc7aafa46ea9e6d7176">

        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Item 1.</div>
          </td>
          <td style="width: 91%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">DESCRIPTION OF SECURITIES TO BE REGISTERED</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z716b7b80fbaf41d5beb329d74a67a6fb">

        <tr>
          <td colspan="3" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Required Information</div>
          </td>
          <td style="width: 2.55%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Location in Form of Receipt Filed Herewith as Prospectus</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td colspan="2" style="vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>1.</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div>Name of depositary and address of its principal executive office</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Face of Receipt &#8211; introductory paragraph</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>2.</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div>Title of Receipts and identity of deposited securities</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Face of Receipt &#8211; top center</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">
            <div>Terms of Deposit:</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(i)</div>
          </td>
          <td style="width: 29.12%; vertical-align: top;">
            <div>The amount of deposited securities represented by one American Depositary Share (&#8220;ADS&#8221;)</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Face of Receipt &#8211; upper right corner</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(ii)</div>
          </td>
          <td style="width: 29.12%; vertical-align: top;">
            <div>The procedure for voting the deposited securities</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Reverse of Receipt &#8211; Articles 14 and 15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(iii)</div>
          </td>
          <td style="width: 29.12%; vertical-align: top;">
            <div>The procedure for collecting and distributing dividends</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Reverse of Receipt &#8211; Articles 13 and 14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(iv)</div>
          </td>
          <td style="width: 29.12%; vertical-align: top;">
            <div>The procedures for transmitting notices, reports and proxy soliciting material</div>
          </td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">
            <div>Face of Receipt &#8211; Article 12;<br>
              Reverse of Receipt &#8211; Articles 14 and 15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
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            <div>The rights of holders of Receipts to inspect the books of the depositary and the list of holders of Receipts</div>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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            <div>Limitation on the depositary&#8217;s liability</div>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
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        <tr>
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            <div>Face of Receipt &#8211; Article 9</div>
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        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 2.55%; vertical-align: top;">&#160;</td>
          <td style="width: 54.78%; vertical-align: top;">&#160;</td>
        </tr>

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    <div><br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    <div style="margin-bottom: 10pt;"><br>
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        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Item 2.</div>
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          <td style="width: 91%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">AVAILABLE INFORMATION</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 9pt;">Following the effectiveness of the registration statement on Form F-1 (File No. 333-253591) and the registration statement on Form 8-A covering the American Depositary Shares representing ordinary
      shares of Hywin Holdings Ltd. (the &#8220;Company&#8221;), the Company will be subject to the periodic reporting requirements of the United States Securities Exchange Act of 1934, as amended, and, accordingly, will file certain reports with, and will furnish
      certain reports to, the Commission.&#160; These reports may be retrieved from the Commission&#8217;s website (www.sec.gov) and may be inspected and copied at the public reference facilities maintained by the Commission at 100 F Street, N.E., Washington D.C.
      20549.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">PART II<br>
      <br>
      INFORMATION NOT REQUIRED IN PROSPECTUS</div>
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        <tr>
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          </td>
        </tr>

    </table>
    <div><br>
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        <tr>
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          <td style="width: 3%; vertical-align: top;">
            <div>(a)</div>
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            <div style="text-align: justify;">Form of Deposit Agreement, by and among the Company, Deutsche Bank Trust Company Americas, as depositary (the &#8220;Depositary&#8221;), and all holders and beneficial owners from time to time of ADSs issued thereunder
              (&#8220;Deposit Agreement&#8221;).&#160;&#160;&#8212; Filed herewith as Exhibit (a).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 83.7%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(b)</div>
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          <td style="width: 83.7%; vertical-align: top;">
            <div style="text-align: justify;">Any other agreement to which the Depositary is a party relating to the issuance of the ADSs registered hereunder or the custody of the deposited securities represented thereby. &#8212; Not applicable.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 83.7%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(c)</div>
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            <div style="text-align: justify;">Every material contract relating to the deposited securities between the Depositary and the issuer of the deposited securities in effect at any time within the last three years. &#8212; Not applicable.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 83.7%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(d)</div>
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          <td style="width: 83.7%; vertical-align: top;">
            <div style="text-align: justify;">Opinion of White &amp; Case LLP, counsel to the Depositary, as to the legality of the securities to be registered. &#8212; Filed herewith as Exhibit (d).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 83.7%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(e)</div>
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          <td rowspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 83.7%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(f)</div>
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            <div style="text-align: justify;">Powers of attorney for certain officers and directors of the Company. &#8212; Set forth on the signature pages hereto.</div>
          </td>
        </tr>

    </table>
    <div><br>
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        <tr>
          <td style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Item 4.</div>
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          </td>
        </tr>

    </table>
    <div><br>
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          <td style="width: 3%; vertical-align: top;">
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          <td style="width: 83.7%; vertical-align: top;">
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        <tr>
          <td style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 83.7%; vertical-align: top;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div>(b)</div>
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          <td style="width: 83.7%; vertical-align: top;">
            <div style="text-align: justify;">If the amount of fees charged is not disclosed in the prospectus, the Depositary undertakes to prepare a separate document stating the amount of any fee charged and describing the service for which it is
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        </tr>

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    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">SIGNATURES</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 9pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that all the requirements for filing on
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          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">
            <div style="text-align: justify;">Legal entity created by the form of Deposit Agreement for the issuance of Receipts for ordinary shares, par value US$0.0001<font style="font-weight: bold;">&#160;</font>per share of Hywin Holdings Ltd.</div>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">
            <div>Deutsche Bank Trust Company Americas,<br>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
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          </td>
        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
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        <tr>
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          <td style="width: 3%; vertical-align: top;">
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 9pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, Hywin Holdings Ltd. certifies that it has reasonable grounds to believe that all the requirements for
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
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          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
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        <tr>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
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        </tr>
        <tr>
          <td style="width: 50.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
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    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">POWER OF ATTORNEY</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 9pt;"><font style="font-weight: bold;">KNOW ALL PERSONS BY THESE PRESENTS, </font>that each person whose signature appears below constitutes and appoints each of Wang Dian and Zhou
      Huichuan, his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including
      post-effective amendments) to this registration statement and any and all related registration statements pursuant to Rule 462(b) of the Securities Act and to file the same, with all exhibits thereto, and other documents in connection therewith, with
      the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 9pt;">Under the requirements of the Securities Act, this registration statement has been signed by the following persons on March 17, 2021, in the capacities indicated.</div>
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          <td style="width: 37.5%; vertical-align: top; border-bottom: #000000 2px solid;">/s/ Joel A. Gallo </td>
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          <td rowspan="1" style="width: 37.5%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Chen Jei <br>
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    <div style="margin-bottom: 10pt;"><br>
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    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 36pt;">Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Cogency Global Inc., has signed this registration
      statement in New York, New York, United States of America on March 17, 2021.</div>
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          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Colleen A. De Vries&#160; <br>
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    <div style="text-align: center; margin-bottom: 18pt; font-weight: bold;">Index to Exhibits</div>
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        <tr>
          <td style="width: 50.02%; vertical-align: top;">
            <div>(a)</div>
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            <div>Form of Deposit Agreement</div>
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            <div>(d)</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4
<SEQUENCE>2
<FILENAME>21-13_ex_4.htm
<DESCRIPTION>EX. (A) FORM OF DEPOSIT AGREEMENT
<TEXT>
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    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div><br>
    </div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">DEPOSIT AGREEMENT</div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">by and among</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HYWIN HOLDINGS LTD. </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">as Issuer,</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">DEUTSCHE BANK TRUST COMPANY AMERICAS</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">as Depositary,</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">AND</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">THE HOLDERS AND BENEFICIAL OWNERS<br>
      OF AMERICAN DEPOSITARY SHARES EVIDENCED BY<br>
      AMERICAN DEPOSITARY RECEIPTS ISSUED HEREUNDER</div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="font-size: 12pt; text-align: center; font-weight: bold;">Dated as of [&#9679;], 2021
        <div>
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    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">DEPOSIT AGREEMENT</div>
    <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">DEPOSIT AGREEMENT</font>, dated as of [&#9679;], 2021, by and among (i) Hywin Holdings Ltd., a company incorporated in the Cayman Islands, with its principal executive office
      at F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong New District, Shanghai City, People&#8217;s Republic of China, 200120 and its registered office at Campbells Corporate Services Limited, Floor 4, Willow House, Cricket Square, Grand Cayman
      KY1-9010, Cayman Islands, Cayman Islands (together with its successors, the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), (ii)&#160;Deutsche Bank Trust Company Americas, an indirect wholly owned subsidiary of Deutsche Bank A.G., acting in its
      capacity as depositary, with its principal office at 60&#160;Wall Street, New York, NY&#160;10005, United States of America (the &#8220;<font style="font-weight: bold;">Depositary</font>&#8221;, which term shall include any successor depositary hereunder) and (iii)&#160;all
      Holders and Beneficial Owners of American Depositary Shares evidenced by American Depositary Receipts issued hereunder (all such capitalized terms as hereinafter defined).</div>
    <div><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">W&#160;I&#160;T&#160;N&#160;E&#160;S&#160;S&#160;E&#160;T&#160;H&#160;&#160;T&#160;H&#160;A&#160;T:</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS</font>, the Company desires to establish an ADR facility with the Depositary to provide for the deposit of the Shares and the creation of
      American Depositary Shares representing the Shares so deposited;</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS</font>, the Depositary is willing to act as the depositary for such ADR facility upon the terms set forth in this Deposit Agreement;</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS</font>, the American Depositary Receipts evidencing the American Depositary Shares issued pursuant to the terms of this Deposit Agreement
      are to be substantially in the form of <u>Exhibit A</u> and <u>Exhibit B</u> annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement;</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS</font>, the American Depositary Shares to be issued pursuant to the terms of this Deposit Agreement are accepted for trading on the NASDAQ
      Global Market Stock Exchange; and</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">WHEREAS</font>, the Board of Directors of the Company (or an authorized committee thereof) has duly approved the establishment of an ADR facility
      upon the terms set forth in this Deposit Agreement, the execution and delivery of this Deposit Agreement on behalf of the Company, and the actions of the Company and the transactions contemplated herein.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">NOW, THEREFORE</font>, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree
      as follows:</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">ARTICLE I.<br>
      <div><br>
      </div>
      DEFINITIONS</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">All capitalized terms used, but not otherwise defined, herein shall have the meanings set forth below, unless otherwise clearly indicated:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.1&#160;&#160;&#8220;<u>Affiliate</u>&#8221; shall have the meaning assigned to such term by the Commission under Regulation C promulgated under the Securities Act.</div>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.2&#160;&#160;&#8220;<u>Agent</u>&#8221; shall mean such entity or entities as the Depositary may appoint under Section&#160;7.8 hereof, including the Custodian or any successor
      or addition thereto.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.3&#160;&#160;&#8220;<u>American Depositary Share(s)&#8221; and &#8220;ADS(s)</u>&#8221; shall mean the securities represented by the rights and interests in the Deposited Securities
      granted to the Holders and Beneficial Owners pursuant to this Deposit Agreement and evidenced by the American Depositary Receipts issued hereunder.&#160; Each American Depositary Share shall represent the right to receive two Shares, until there shall
      occur a distribution upon Deposited Securities referred to in Section 4.2 hereof or a change in Deposited Securities referred to in Section&#160;4.9 hereof with respect to which additional American Depositary Receipts are not executed and delivered and
      thereafter each American Depositary Share shall represent the Shares or Deposited Securities specified in such Sections.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.4&#160;&#160;&#8220;<u>Article</u>&#8221; shall refer to an article of the American Depositary Receipts as set forth in the Form of Face of Receipt and Form of Reverse of
      Receipt in Exhibit A and Exhibit B annexed hereto.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.5&#160;&#160;&#8220;<u>Articles of Association</u>&#8221; shall mean the articles of association of the Company, as amended from time to time.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.6&#160;&#160;&#8220;<u>ADS Record Date</u>&#8221; shall have the meaning given to such term in Section 4.7 hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.7&#160;&#160;&#8220;<u>Beneficial Owner</u>&#8221; shall mean as to any ADS, any person or entity having a beneficial interest in such ADS.&#160; A Beneficial Owner need not be
      the Holder of the ADR evidencing such ADSs. A Beneficial Owner may exercise any rights or receive any benefits hereunder solely through the Holder of the ADR(s) evidencing the ADSs in which such Beneficial Owner has an interest.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.8&#160;&#160;&#8220;<u>Business Day</u>&#8221; shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not (a)&#160;a day on which banking institutions in the
      Borough of Manhattan, The City of New York are authorized or obligated by law or executive order to close and (b)&#160;a day on which the market(s) in which ADSs are traded are closed.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.9&#160;&#160;&#8220;<u>Commission</u>&#8221; shall mean the Securities and Exchange Commission of the United States or any successor governmental agency in the United
      States.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.10&#160;&#160;&#8220;<u>Company</u>&#8221; shall mean Hywin Holdings Ltd., a company incorporated and existing under the laws of the Cayman Islands, and its successors.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.11&#160;&#160;&#8220;<u>Corporate Trust Office</u>&#8221; when used with respect to the Depositary, shall mean the corporate trust office of the Depositary at which at any
      particular time its depositary receipts business shall be administered, which, at the date of this Deposit Agreement, is located at 60 Wall Street, New York, New York 10005, U.S.A.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.12&#160;&#160;&#8220;<u>Custodian</u>&#8221; shall mean, as of the date hereof, Deutsche Bank AG, Hong Kong Branch, having its principal office at 57/F&#160;International
      Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong S.A.R., People&#8217;s Republic of China, as the custodian for the purposes of this Deposit Agreement, and any other firm or corporation which may hereinafter be appointed by the Depositary pursuant
      to the terms of Section 5.5 hereof as a successor or an additional custodian or custodians hereunder, as the context shall require.&#160; The term &#8220;Custodian&#8221; shall mean all custodians, collectively.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.13&#160;&#160;&#8220;<u>Deliver</u>&#8221;, &#8220;<u>Deliverable</u>&#8221; and &#8220;<u>Delivery</u>&#8221; shall mean, when used in respect of American Depositary Shares, Receipts, Deposited
      Securities and Shares, the physical delivery of the certificate representing such security, or the electronic delivery of such security by means of book&#8209;entry transfer, as appropriate, including, without limitation, through DRS/Profile.&#160; With respect
      to DRS/Profile ADRs, the terms &#8220;<u>execute</u>&#8221;, &#8220;<u>issue</u>&#8221;, &#8220;<u>register</u>&#8221;, &#8220;<u>surrender</u>&#8221;, &#8220;<u>transfer</u>&#8221; or &#8220;<u>cancel</u>&#8221; refer to applicable entries or movements to or within DRS/Profile.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.14&#160;&#160;&#8220;<u>Deposit Agreement</u>&#8221; shall mean this Deposit Agreement and all exhibits annexed hereto, as the same may from time to time be amended and
      supplemented in accordance with the terms hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.15&#160;&#160;&#8220;<u>Depositary</u>&#8221; shall mean Deutsche Bank Trust Company Americas, an indirect wholly owned subsidiary of Deutsche Bank&#160;AG, in its capacity as
      depositary under the terms of this Deposit Agreement, and any successor depositary hereunder.</div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">SECTION 1.16&#160;&#160;&#8220;<u>Deposited Securities</u>&#8221; 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 or deemed to be received by the Depositary or the Custodian in respect thereof and held hereunder, subject, in the case of cash, to the provisions of Section 4.6.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.17&#160;&#160;&#8220;<u>Dollars</u>&#8221; and &#8220;<u>$</u>&#8221; shall mean the lawful currency of the United States.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.18&#160;&#160;&#8220;<u>DRS/Profile</u>&#8221; shall mean the system for the uncertificated registration of ownership of securities pursuant to which ownership of ADSs is
      maintained on the books of the Depositary without the issuance of a physical certificate and transfer instructions may be given to allow for the automated transfer of ownership between the books of DTC and the Depositary.&#160; Ownership of ADSs held in
      DRS/Profile is evidenced by periodic statements issued by the Depositary to the Holders entitled thereto.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.19&#160;&#160;&#8220;<u>DTC</u>&#8221; shall mean The Depository Trust Company, the central book&#8209;entry clearinghouse and settlement system for securities traded in the
      United States, and any successor thereto.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.20&#160;&#160;&#8220;<u>DTC Participants</u>&#8221;&#160; shall mean participants within DTC.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.21&#160; &#8220;<u>Exchange Act</u>&#8221; shall mean the U.S. Securities Exchange Act of 1934, as from time to time amended.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.22&#160;&#160;&#8220;<u>Foreign Currency</u>&#8221; shall mean any currency other than Dollars.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.23&#160;&#160;&#8220;<u>Foreign Registrar</u>&#8221; shall mean the entity, if any, that 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 or, if no such agent is so appointed and acting, the Company.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.24&#160;&#160;&#8220;<u>Holder</u>&#8221; shall mean the person in whose name a Receipt is registered on the books of the Depositary (or the Registrar, if any) maintained
      for such purpose.&#160; A Holder may or may not be a Beneficial Owner.&#160; A Holder shall be deemed to have all requisite authority to act on behalf of those Beneficial Owners of the ADRs registered in such Holder&#8217;s name.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.25&#160;&#160;&#8220;<u>Indemnified Person&#8221; and &#8220;Indemnifying Person&#8221;</u> shall have the respective meanings set forth in Section&#160;5.8 hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.26&#160;&#160;&#8220;<u>Losses</u>&#8221; shall have the meaning set forth in Section&#160;5.8 hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.27&#160;&#160;&#8220;<u>Memorandum</u>&#8221; shall mean the memorandum of association of the Company.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.28&#160;&#160;&#8220;<u>Opinion of Counsel</u>&#8221; shall mean a written opinion from legal counsel to the Company who is acceptable to the Depositary.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.29&#160;&#160;&#8220;<u>Receipt(s); &#8220;American Depositary Receipt(s)&#8221;; and &#8220;ADR(s)</u>&#8221; shall mean the certificate(s) or statement(s) issued by the Depositary
      evidencing the American Depositary Shares issued under the terms of this Deposit Agreement, as such Receipts may be amended from time to time in accordance with the provisions of this Deposit Agreement.&#160; References to Receipts shall include physical
      certificated Receipts as well as ADSs issued through any book-entry system, including, without limitation, DRS/Profile, unless the context otherwise requires.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.30&#160;&#160;&#8220;<u>Registrar</u>&#8221; shall mean the Depositary or 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 ownership of Receipts and transfer of Receipts as herein provided, and shall include any co&#8209;registrar appointed by the Depositary for such purposes.&#160; Registrars (other than the Depositary) may be
      removed and substitutes appointed by the Depositary.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.31&#160;&#8220;<u>Restricted Securities</u>&#8221; shall mean Shares which (i)&#160;have been acquired directly or indirectly from the Company or any of its Affiliates in a
      transaction or chain of transactions not involving any public offering and subject to resale limitations under the Securities Act or the rules issued thereunder, or (ii)&#160;are held by an officer or director (or persons performing similar functions) or
      other Affiliate of the Company or (iii)&#160;are subject to other restrictions on sale or deposit under the laws of the United States or the Cayman Islands, under a shareholders&#8217; agreement, shareholders&#8217; lock&#8209;up agreement or the Articles of Association or
      under the regulations of an applicable securities exchange unless, in each case, such Shares are being sold to persons other than an Affiliate of the Company in a transaction (x)&#160;covered by an effective resale registration statement or (y)&#160;exempt
      from the registration requirements of the Securities Act (as hereafter defined) and the Shares are not, when held by such person, Restricted Securities.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.32&#160;&#160;&#8220;<u>Securities Act</u>&#8221; shall mean the United States Securities Act of 1933, as from time to time amended.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;"> SECTION 1.33&#160;&#160;&#8220;<u>Shares</u>&#8221; shall mean ordinary shares in registered form of the Company, par value US$0.0001 each, heretofore or hereafter validly issued and
      outstanding and fully paid.&#160; References to Shares shall include evidence of rights to receive Shares, whether or not stated in the particular instance; provided, however, that in no event shall Shares include evidence of rights to receive Shares with
      respect to which the full purchase price has not been paid or Shares as to which pre&#8209;emptive rights have theretofore not been validly waived or exercised; provided further, however, that, if there shall occur any change in par value, split&#8209;up,
      consolidation, reclassification, exchange, conversion or any other event described in Section&#160;4.9 hereof in respect of the Shares, the term &#8220;Shares&#8221; shall thereafter, to the extent permitted by law, represent the successor securities resulting from
      such change in par value, split&#8209;up, consolidation, reclassification, exchange, conversion or event.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 1.34&#160;&#160;&#8220;<u>United States&#8221;</u> or <u>&#8220;U.S.</u>&#8221; shall mean the United States of America.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">ARTICLE II.<br>
      <br>
      APPOINTMENT OF DEPOSITARY; FORM OF RECEIPT; DEPOSIT OF SHARES; EXECUTION AND DELIVERY, TRANSFER AND SURRENDER OF RECEIPTS</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.1&#160;&#160;<u>Appointment of Depositary</u>.&#160; The Company hereby appoints the Depositary as exclusive depositary for the Deposited Securities and hereby
      authorizes and directs the Depositary to act in accordance with the terms set forth in this Deposit Agreement.&#160; Each Holder and each Beneficial Owner, upon acceptance of any ADSs (or any interest therein) issued in<font style="font-style: italic;">&#160;</font>accordance




      with the terms of this Deposit Agreement, shall be deemed for all purposes to (a)&#160;be a party to and bound by the terms of this Deposit Agreement and the applicable ADR(s) and (b)&#160;appoint the Depositary its attorney&#8209;in&#8209;fact, with full power to
      delegate, to act on its behalf and to take any and all actions contemplated in this Deposit Agreement and the applicable ADR(s), to adopt any and all procedures necessary to comply with applicable law and to take such action as the Depositary in its
      sole discretion may deem necessary or appropriate to carry out the purposes of this Deposit Agreement and the applicable ADR(s) (the taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.2&#160;&#160;<u>Form and Transferability of Receipts</u>.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Form</u>.&#160; Receipts in certificated form shall be substantially in the form set forth in <u>Exhibit A</u> and <u>Exhibit




          B</u> annexed to this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided.&#160; Receipts may be issued in denominations of any number of American Depositary Shares.&#160; No Receipt in certificated form
        shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose, unless such Receipt shall have been dated and signed by the manual or facsimile signature of a duly authorized signatory of the Depositary.&#160;
        The Depositary shall maintain books on which each Receipt so executed and Delivered, in the case of Receipts in certificated form, and each Receipt issued through any book&#8209;entry system, including, without limitation, DRS/Profile, in either case as
        hereinafter provided, and the transfer of each such Receipt shall be registered.&#160; Receipts in certificated form 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 the fact 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.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything in this Deposit Agreement or in the form of Receipt to the contrary, to the extent available by the Depositary, ADSs shall be evidenced by Receipts issued
      through any book-entry system, including, without limitation, DRS/Profile, unless certificated Receipts are specifically requested by the Holder.&#160; Holders and Beneficial Owners shall be bound by the terms and conditions of this Deposit Agreement and
      of the form of Receipt, regardless of whether their Receipts are in certificated form or are issued through<font style="font-weight: bold;">&#160;</font>any book-entry system, including, without limitation, DRS/Profile.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Legends</u>.&#160; In addition to the foregoing, the Receipts may, and upon the written request of the Company shall,
        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 (i)&#160;necessary to enable the Depositary and the Company to perform their
        respective obligations hereunder, (ii)&#160;required to comply with any applicable laws or regulations, or with the rules and regulations of any securities exchange or market upon which ADSs may be traded, listed or quoted, or to conform with any usage
        with respect thereto, (iii)&#160;necessary to indicate any special limitations or restrictions to which any particular ADRs or ADSs are subject by reason of the date of issuance of the Deposited Securities or otherwise or (iv)&#160;required by any book&#8209;entry
        system in which the ADSs are held.&#160; Holders and Beneficial Owners shall be deemed, for all purposes, to have notice of, and to be bound by, the terms and conditions of the legends set forth, in the case of Holders, on the ADR registered in the name
        of the applicable Holders or, in the case of Beneficial Owners, on the ADR representing the ADSs owned by such Beneficial Owners.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Title</u>. Subject to the limitations contained herein and in the form of Receipt, title to a Receipt (and to
        the ADSs evidenced thereby), when properly endorsed (in the case of certificated Receipts) or upon delivery to the Depositary of proper instruments of transfer, shall be transferable by delivery with the same effect as in the case of a negotiable
        instrument under the laws of the State of New York; provided, however, that the Depositary, notwithstanding any notice to the contrary, may treat the Holder thereof 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 and neither the Depositary nor the Company will have any obligation or be subject to any liability under the Deposit
        Agreement to any holder of a Receipt, unless such holder is the Holder thereof.</font></div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.3&#160;&#160;<u>Deposits</u>.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Subject to the terms and conditions of this Deposit Agreement and applicable law, Shares or evidence of rights to
        receive Shares may be deposited by any person (including the Depositary in its individual capacity but subject, however, in the case of the Company or any Affiliate of the Company, to Section&#160;5.7 hereof) at any time beginning on the 181<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>
        day after the date of the prospectus contained in the registration statement on Form F&#8209;1 under which the ADSs are first sold or on such earlier date as the Company (with the approval of the underwriters referred to in the said prospectus) may
        specify in writing to the Depositary, whether or not the transfer books of the Company or the Foreign Registrar, if any, are closed, by Delivery of the Shares to the Custodian.&#160; Except for Shares deposited by the Company in connection with the
        initial sale of ADSs under the registration statement on Form F-1, no deposit of Shares shall be accepted under this Deposit Agreement prior to such date.&#160; Every deposit of Shares shall be accompanied by the following: (A)(i)&#160;in the case of Shares
        represented by certificates issued in registered form, appropriate instruments of transfer or endorsement, in a form satisfactory to the Custodian, (ii)&#160;in the case of Shares represented by certificates issued in bearer form, such Shares or the
        certificates representing such Shares and (iii)&#160;in the case of Shares Delivered by book&#8209;entry transfer, confirmation of such book&#8209;entry transfer to the Custodian or that irrevocable instructions have been given to cause such Shares to be so
        transferred, (B)&#160;such certifications and payments (including, without limitation, the Depositary&#8217;s fees and related charges) and evidence of such payments (including, without limitation, stamping or otherwise marking such Shares by way of receipt)
        as may be required by the Depositary or the Custodian in accordance with the provisions of this Deposit Agreement or as may be deemed by them to be appropriate in the circumstances, (C)&#160;if the Depositary so requires, a written order directing the
        Depositary to execute and Deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts for the number of American Depositary Shares representing the Shares so deposited, (D)&#160;evidence satisfactory to the
        Depositary (which may include an opinion of counsel reasonably satisfactory to the Depositary provided at the cost of the person seeking to deposit Shares) that all conditions to such deposit have been met and all necessary approvals have been
        granted by, and there has been compliance with the rules and regulations of, any applicable governmental agency and (E)&#160;if the Depositary so requires, (i)&#160;an agreement, assignment or instrument satisfactory to the Depositary or the Custodian which
        provides for the prompt transfer by any person in whose name the Shares are or have been recorded to the Custodian of any distribution, or right to subscribe for additional Shares or to receive other property in respect of any such deposited Shares
        or, in lieu thereof, such indemnity or other agreement as shall be satisfactory to the Depositary or the Custodian and (ii)&#160;if the Shares are registered in the name of the person on whose behalf they are presented for deposit, a proxy or proxies
        entitling the Custodian to exercise voting rights in respect of the Shares for any and all purposes until the Shares so deposited are registered in the name of the Depositary, the Custodian or any nominee.&#160; No Share shall be accepted for deposit
        unless accompanied by confirmation or such additional evidence, if any is required by the Depositary, that is reasonably satisfactory to the Depositary or the Custodian that all conditions to such deposit have been satisfied by the person
        depositing such Shares under the laws and regulations of the Cayman Islands and any necessary approval has been granted by any governmental body in the Cayman Islands, if any, which is then performing the function of the regulator of currency
        exchange.&#160; The Depositary may issue Receipts against evidence of rights to receive Shares from the Company, any agent of the Company or any custodian, registrar, transfer agent, clearing agency or other entity involved in ownership or transaction
        records in respect of the Shares.&#160; Without limitation of the foregoing, the Depositary shall not knowingly accept for deposit under this Deposit Agreement any Shares or other Deposited Securities required to be registered under the provisions of
        the Securities Act, unless a registration statement is in effect as to such Shares or other Deposited Securities, or any Shares or other Deposited Securities the deposit of which would violate any provisions of the Memorandum and Articles of
        Association.&#160; The Depositary shall use commercially reasonable efforts to comply with reasonable written instructions of the Company that the Depositary shall not accept for deposit hereunder any Shares specifically identified in such instructions
        at such times and under such circumstances as may reasonably be specified in such instructions in order to facilitate the Company&#8217;s compliance with the securities laws in the United States and other jurisdictions, provided that the Company shall
        indemnify the Depositary and the Custodian for any claims and losses arising from not accepting the deposit of any Shares identified in the Company&#8217;s instructions.</font></div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">As soon as practicable after receipt of any permitted deposit hereunder and compliance with the provisions of this
        Deposit Agreement, the Custodian shall present the Shares so deposited, together with the appropriate instrument or instruments of transfer or endorsement, duly stamped, to the Foreign Registrar for transfer and registration of the Shares (as soon
        as transfer and registration can be accomplished and at the expense of the person for whom the deposit is made) in the name of the Depositary, the Custodian or a nominee of either.&#160; Deposited Securities shall be held by the Depositary or by a
        Custodian for the account and to the order of the Depositary or a nominee, in each case for the account of the Holders and Beneficial Owners, at such place or places as the Depositary or the Custodian shall determine.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">In the event any Shares are deposited which entitle the holders thereof to receive a per&#8209;share distribution or
        other entitlement in an amount different from the Shares then on deposit, the Depositary is authorized to take any and all actions as may be necessary (including, without limitation, making the necessary notations on Receipts) to give effect to the
        issuance of such ADSs and to ensure that such ADSs are not fungible with other ADSs issued hereunder until such time as the entitlement of the Shares represented by such non&#8209;fungible ADSs equals that of the Shares represented by ADSs prior to such
        deposit. The Company agrees to give timely written notice to the Depositary if any Shares issued or to be issued contain rights different from those of any other Shares theretofore issued and shall assist the Depositary with the establishment of
        procedures enabling the identification of such non&#8209;fungible Shares upon Delivery to the Custodian.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.4&#160;&#160;<u>Execution and Delivery of Receipts</u>.&#160; After the deposit of any Shares pursuant to Section&#160;2.3 hereof, the Custodian shall notify the
      Depositary of such deposit and the person or persons to whom or upon whose written order a Receipt or Receipts are Deliverable in respect thereof and the number of American Depositary Shares to be evidenced thereby.&#160; Such notification shall be made
      by letter, first class airmail postage prepaid, or, at the request, risk and expense of the person making the deposit, by cable, telex, SWIFT, facsimile or electronic transmission.&#160; After receiving such notice from the Custodian, the Depositary,
      subject to this Deposit Agreement (including, without limitation, the payment of the fees, expenses, taxes and/or other charges owing hereunder), shall issue the ADSs representing the Shares so deposited to or upon the order of the person or persons
      named in the notice delivered to the Depositary and shall execute and Deliver a Receipt registered in the name or names requested by such person or persons evidencing in the aggregate the number of American Depositary Shares to which such person or
      persons are entitled.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.5&#160;&#160;<u>Transfer of Receipts; Combination and Split&#8209;up of Receipts</u>.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Transfer</u>.&#160; The Depositary, or, if a Registrar (other than the Depositary) for the Receipts shall have been
        appointed, the Registrar, subject to the terms and conditions of this Deposit Agreement, shall register transfers of Receipts on its books, upon surrender at the Corporate Trust Office of the Depositary of a Receipt by the Holder thereof in person
        or by duly authorized attorney, properly endorsed in the case of a certificated Receipt or accompanied by, or in the case of Receipts issued through any book-entry system, including, without limitation, DRS/Profile, receipt by the Depositary of,
        proper instruments of transfer (including signature guarantees in accordance with standard industry practice) and duly stamped as may be required by the laws of the State of New York, of the United States , of the Cayman Islands and of any other
        applicable jurisdiction.&#160; Subject to the terms and conditions of this Deposit Agreement, including payment of the applicable fees and charges of the Depositary set forth in Section&#160;5.9 hereof and Article&#160;(9) of the Receipt, the Depositary shall
        execute a new Receipt or Receipts and Deliver the same to or upon the order of the person entitled thereto evidencing the same aggregate number of American Depositary Shares as those evidenced by the Receipts surrendered.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Combination and Split Up</u>.&#160; 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&#8209;up or combination of such Receipt or Receipts and upon payment to the Depositary of the applicable fees and charges set forth in Section&#160;5.9 hereof and Article&#160;(9)
        of the Receipt, 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.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Co&#8209;Transfer Agents</u>.&#160; The Depositary may appoint one or more co&#8209;transfer agents for the purpose of effecting
        transfers, combinations and split&#8209;ups of Receipts at designated transfer offices on behalf of the Depositary. In carrying out its functions, a co&#8209;transfer agent may require evidence of authority and compliance with applicable laws and other
        requirements by Holders or persons entitled to such Receipts and will be entitled to protection and indemnity, in each case to the same extent as the Depositary. Such co&#8209;transfer agents may be removed and substitutes appointed by the Depositary.&#160;
        Each co&#8209;transfer agent appointed under this Section&#160;2.5 (other than the Depositary) shall give notice in writing to the Depositary accepting such appointment and agreeing to be bound by the applicable terms of this Deposit Agreement.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Substitution of Receipts</u>. At the request of a Holder, the Depositary shall, for the purpose of substituting
        a certificated Receipt with a Receipt issued through any book-entry system, including, without limitation, DRS/Profile, or vice versa, execute and Deliver a certificated Receipt or deliver a statement, as the case may be, for any authorized number
        of ADSs requested, evidencing the same aggregate number of ADSs as those evidenced by the relevant Receipt.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.6&#160;&#160;<u>Surrender of Receipts and Withdrawal of Deposited Securities</u>.&#160; 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 (i)&#160;the fees and charges of the Depositary for the making of withdrawals of Deposited Securities and cancellation of Receipts (as set
      forth in Section&#160;5.9 hereof and Article&#160;(9) of the Receipt) and (ii)&#160;all fees, taxes and/or governmental charges payable in connection with such surrender and withdrawal, and subject to the terms and conditions of this Deposit Agreement, the
      Memorandum and Articles of Association, Section&#160;7.11 hereof and any other provisions of or governing the Deposited Securities and other applicable laws, the Holder of such American Depositary Shares shall be entitled to Delivery, to him or upon his
      order, of the Deposited Securities at the time represented by the American Depositary Shares so surrendered.&#160; American Depositary Shares may be surrendered for the purpose of withdrawing Deposited Securities by Delivery of a Receipt evidencing such
      American Depositary Shares (if held in certificated form) or by book&#8209;entry Delivery of such American Depositary Shares to the Depositary.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">A Receipt surrendered for such purposes shall, if so required by the Depositary, be properly endorsed in blank or accompanied by proper instruments of transfer in blank, and if the
      Depositary so requires, the Holder thereof shall 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 persons
      designated in such order. Thereupon, the Depositary shall direct the Custodian to Deliver (without unreasonable delay) at the designated office of the Custodian or through a book&#8209;entry delivery of the Shares (in either case, subject to Sections 2.7,
      3.1, 3.2, 5.9, hereof and to the other terms and conditions of this Deposit Agreement, to the Memorandum and Articles of Association, and to the provisions of or governing the Deposited Securities and applicable laws, now or hereafter in effect) to
      or upon the written order of the person or persons designated in the order delivered to the Depositary as provided above, the Deposited Securities represented by such American Depositary Shares, together with any certificate or other proper documents
      of or relating to title of the Deposited Securities as may be legally required, as the case may be, to or for the account of such person.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary may refuse to accept for surrender American Depositary Shares only in the circumstances described in Article (4) of the Receipt.&#160; Subject thereto, in the case of
      surrender of a Receipt evidencing a number of American Depositary Shares representing other than a whole number of Shares, the Depositary shall cause ownership of the appropriate whole number of Shares to be Delivered in accordance with the terms
      hereof, and shall, at the discretion of the Depositary, either (i)&#160;issue and Deliver to the person surrendering such Receipt a new Receipt evidencing American Depositary Shares representing any remaining fractional Share, or (ii)&#160;sell or cause to be
      sold the fractional Shares represented by the Receipt surrendered and remit the proceeds of such sale (net of (a)&#160;applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and
      (b)&#160;taxes and/or governmental charges) to the person surrendering the Receipt.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">At the request, risk and expense of any Holder so surrendering a Receipt, and for the account of such Holder, the Depositary shall direct the Custodian to forward (to the extent
      permitted by law) any cash or other property (other than securities) held in respect of, and any certificate or certificates and other proper documents of or relating to title to, the Deposited Securities represented by such Receipt to the Depositary
      for delivery at the Corporate Trust Office of the Depositary, and for further Delivery to such Holder.&#160; Such direction shall be given by letter or, at the request, risk and expense of such Holder, by cable, telex or facsimile transmission. Upon
      receipt by the Depositary of such direction, the Depositary may make delivery to such person or persons entitled thereto at the Corporate Trust Office of the Depositary of any dividends or cash distributions with respect to the Deposited Securities
      represented by such 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.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.7&#160;&#160;<u>Limitations on Execution and Delivery, Transfer, etc. of Receipts; Suspension of Delivery, Transfer, etc.</u></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Additional Requirements</u>.&#160; As a condition precedent to the execution and Delivery, registration, registration
        of transfer, split&#8209;up, subdivision, combination or surrender of any Receipt, the Delivery of any distribution thereon (whether in cash or shares) or withdrawal of any Deposited Securities, the Depositary or the Custodian may require (i)&#160;payment
        from the depositor of Shares or presenter of the Receipt of a sum sufficient to reimburse it for any tax 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 and charges of the Depositary as provided in Section&#160;5.9 hereof and Article&#160;(9) of the Receipt hereto, (ii)&#160;the production of proof satisfactory to it as to the
        identity and genuineness of any signature or any other matter contemplated by Section&#160;3.1 hereof and (iii)&#160;compliance with (A)&#160;any laws or governmental regulations relating to the execution and Delivery of Receipts or American Depositary Shares or
        to the withdrawal or Delivery of Deposited Securities and (B)&#160;such reasonable regulations and procedures as the Depositary may establish consistent with the provisions of this Deposit Agreement and applicable law.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Additional Limitations</u>.&#160; The issuance of ADSs against deposits of Shares generally or against deposits of
        particular Shares may be suspended, or the issuance of ADSs against the deposit of particular Shares may be withheld, or the registration of transfer of Receipts in particular instances may be refused, or the registration of transfers of Receipts
        generally may be suspended, during any period when the transfer books of the Depositary are closed or if any such action is deemed necessary or advisable by the Depositary or the Company, in good faith, at any time or from time to time because of
        any requirement of law, any government or governmental body or commission or any securities exchange on which the Receipts or Shares are listed, or under any provision of this Deposit Agreement or provisions of, or governing, the Deposited
        Securities, or any meeting of shareholders of the Company or for any other reason, subject, in all cases, to Section&#160;7.11 hereof.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The Depositary shall not issue ADSs prior to the receipt of Shares or deliver Shares prior to the receipt and
        cancellation of ADSs.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.8&#160;&#160;<u>Lost Receipts, etc.</u>&#160; To the extent the Depositary has issued Receipts in physical certificated form, in case any Receipt shall be mutilated,
      destroyed, lost or stolen, unless the Depositary has notice that such ADR has been acquired by a bona fide purchaser, subject to Section&#160;5.9 hereof, the Depositary shall execute and Deliver a new Receipt (which, in the discretion of the Depositary
      may be issued through any book-entry system, including, without limitation, DRS/Profile, unless specifically requested otherwise) 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.&#160; Before the Depositary shall execute and Deliver a new Receipt in substitution for a destroyed, lost or stolen Receipt, the Holder thereof shall have (a)&#160;filed with the Depositary (i)&#160;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)&#160;a sufficient indemnity bond in form and amount acceptable to the Depositary and (b)&#160;satisfied any other reasonable
      requirements imposed by the Depositary.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.9&#160;&#160;<u>Cancellation and Destruction of Surrendered Receipts</u>.&#160; All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The
      Depositary is authorized to destroy Receipts so cancelled in accordance with its customary practices.&#160; Cancelled Receipts shall not be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 2.10&#160;&#160; <u>Maintenance of Records</u>.&#160; The Depositary agrees to maintain records of all Receipts surrendered and Deposited Securities withdrawn under
      Section 2.6, substitute Receipts Delivered under Section 2.8 and cancelled or destroyed Receipts under Section 2.9, in keeping with the procedures ordinarily followed by stock transfer agents located in the United States.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">ARTICLE III.</font><br>
      <br>
      <font style="font-weight: bold;">CERTAIN OBLIGATIONS OF HOLDERS</font><br>
      <font style="font-weight: bold;">AND BENEFICIAL OWNERS OF RECEIPTS</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 3.1&#160;&#160;<u>Proofs, Certificates and Other Information</u>.&#160; Any person presenting Shares for deposit shall provide, any Holder and any Beneficial Owner may
      be required to provide, and every Holder and Beneficial Owner agrees, from time to time to provide to the Depositary or the Custodian such proof of citizenship or residence, taxpayer status, payment of all applicable taxes or other governmental
      charges, exchange control approval, legal or beneficial ownership of ADSs and Deposited Securities, compliance with applicable laws and the terms of this Deposit Agreement and the provisions of, or governing, the Deposited Securities or other
      information, to execute such certifications and to make such representations and warranties and to provide such other information and documentation as the Depositary may deem necessary or proper or as the Company may reasonably require by written
      request to the Depositary consistent with its obligations hereunder. The Depositary and the Registrar, as applicable, may withhold the execution or Delivery or registration of transfer of any Receipt or the distribution or sale of any dividend or
      other distribution of rights or of the proceeds thereof, or to the extent not limited by the terms of Section&#160;7.11 hereof, the Delivery of any Deposited Securities, until such proof or other information is filed or such certifications are executed,
      or such representations and warranties are made, or such other documentation or information provided, in each case to the Depositary&#8217;s and the Company&#8217;s satisfaction. The Depositary shall from time to time on the written request of the Company advise
      the Company of the availability of any such proofs, certificates or other information and shall, at the Company&#8217;s sole expense, provide or otherwise make available copies thereof to the Company upon written request therefor by the Company, unless
      such disclosure is prohibited by law.&#160; Each Holder and Beneficial Owner agrees to provide, any information requested by the Company or the Depositary pursuant to this Section 3.1.&#160; Nothing herein shall obligate the Depositary to (i)&#160;obtain any
      information for the Company if not provided by the Holders or Beneficial Owners or (ii)&#160;verify or vouch for the accuracy of the information so provided by the Holders or Beneficial Owners.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">Every Holder and Beneficial Owner agrees to indemnify the Depositary, the Company, the Custodian, the Agents and each of their respective directors, officers,
      employees, agents and Affiliates against, and to hold each of them harmless from, any Losses which any of them may incur or which may be made against any of them as a result of or in connection with any inaccuracy in or omission from any such proof,
      certificate, representation, warranty, information or document furnished by or on behalf of such Holder and/or Beneficial Owner or as a result of any such failure to furnish any of the foregoing.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The obligations of Holders and Beneficial Owners under Section 3.1 shall survive any transfer of Receipts, any surrender of Receipts or withdrawal of Deposited
      Securities or the termination of the Deposit Agreement.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 3.2&#160;&#160;<u>Liability for Taxes and Other Charges</u>.&#160; If any present or future tax or other governmental charge shall become payable by the Depositary or
      the Custodian with respect to any ADR or any Deposited Securities or American Depositary Shares, such tax or other governmental charge shall be payable by the Holders and Beneficial Owners to the Depositary and such Holders and Beneficial Owners
      shall be deemed liable therefor.&#160; The Company, the Custodian and/or the Depositary may withhold or deduct from any distributions made in respect of Deposited Securities and may sell for the account of a Holder and/or Beneficial Owner any or all of
      the Deposited Securities and apply such distributions and sale proceeds in payment of such taxes (including applicable interest and penalties) and charges, with the Holder and the Beneficial Owner remaining fully liable for any deficiency.&#160; In
      addition to any other remedies available to it, the Depositary and the Custodian may refuse the deposit of Shares, and the Depositary may refuse to issue ADSs, to Deliver ADRs, to register the transfer, split&#8209;up or combination of ADRs and (subject to
      Section&#160;7.11 hereof) the withdrawal of Deposited Securities, until payment in full of such tax, charge, penalty or interest is received. The liability of Holders and Beneficial Owners under this Section 3.2 shall survive any transfer of Receipts, any
      surrender of Receipts and withdrawal of Deposited Securities or the termination of this Deposit Agreement.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 3.3&#160;&#160;<u>Representations and Warranties on Deposit of Shares</u>.&#160; Each person depositing Shares under this Deposit Agreement shall be deemed thereby to
      represent and warrant that (i)&#160;such Shares and the certificates therefor are duly authorized, validly issued, fully paid, non&#8209;assessable and were legally obtained by such person, (ii)&#160;all preemptive (and similar) rights, if any, with respect to such
      Shares have been validly waived or exercised, (iii)&#160;the person making such deposit is duly authorized so to do, (iv)&#160;the Shares presented for deposit are free and clear of any lien, encumbrance, security interest, charge, mortgage or adverse claim
      and are not, and the American Depositary Shares issuable upon such deposit will not be, Restricted Securities, (v)&#160;the Shares presented for deposit have not been stripped of any rights or entitlements and (vi)&#160;the Shares are not subject to any
      lock&#8209;up agreement with the Company or other party, or the Shares are subject to a lock-up agreement but such lock-up agreement has terminated or the lock-up restrictions imposed thereunder have expired.&#160; Such representations and warranties shall
      survive the deposit and withdrawal of Shares, the issuance and cancellation of American Depositary Shares in respect thereof and the transfer of such American Depositary Shares<font style="font-weight: bold;">.&#160; </font>If any such representations or
      warranties are false in any way, the Company and the Depositary shall be authorized, at the cost and expense of the person depositing Shares, to take any and all actions necessary to correct the consequences thereof.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 3.4&#160;&#160;<u>Compliance with Information Requests</u>.&#160; Notwithstanding any other provision of the Deposit Agreement, the Articles of Association and
      applicable law, each Holder and Beneficial Owner agrees to (a)&#160;provide such information as the Company or the Depositary may request pursuant to&#160; law (including, without limitation, relevant Cayman Islands law, any applicable law of the United
      States, the Memorandum and Articles of Association, any resolutions of the Company&#8217;s Board of Directors adopted pursuant to the Memorandum and Articles of Association, the requirements of any markets or exchanges upon which the Shares, ADSs or
      Receipts are listed or traded, or to any requirements of any electronic book&#8209;entry system by which the ADSs or Receipts may be transferred), (b)&#160;be bound by and subject to applicable provisions of the laws of the Cayman Islands, the Memorandum and
      Articles of Association and the requirements of any markets or exchanges upon which the ADSs, Receipts or Shares are listed or traded, or pursuant to any requirements of any electronic book&#8209;entry system by which the ADSs, Receipts or Shares may be
      transferred, to the same extent as if such Holder and Beneficial Owner held Shares directly, in each case irrespective of whether or not they are Holders or Beneficial Owners at the time such request is made and, without limiting the generality of
      the foregoing, (c) comply with all applicable provisions of Cayman Islands law, the rules and requirements of any stock exchange on which the Shares are, or will be registered, traded or listed and the Articles of Association regarding any such
      Holder or Beneficial Owner's interest in Shares (including the aggregate of ADSs and Shares held by each such Holder or Beneficial Owner) and/or the disclosure of interests therein, whether or not the same may be enforceable against such Holder or
      Beneficial Owner. The Depositary agrees to use its reasonable efforts to forward upon the request of the Company, and at the Company&#8217;s expense, any such request from the Company to the Holders and to forward to the Company any such responses to such
      requests received by the Depositary.</div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">ARTICLE IV.</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"><br>
      </font></div>
    <div style="font-weight: bold; text-align: center; font-size: 12pt;">THE DEPOSITED SECURITIES</div>
    <div style="font-weight: bold; text-align: center; font-size: 12pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.1&#160;&#160;<u>Cash Distributions</u>.&#160; Whenever the Depositary receives confirmation from the Custodian of receipt of any cash dividend or other cash
      distribution on any Deposited Securities, or receives proceeds from the sale of any Shares, rights, securities or other entitlements under the terms hereof, the Depositary will, if at the time of receipt thereof any amounts received in a Foreign
      Currency can in the judgment of the Depositary (pursuant to Section&#160;4.6 hereof) be converted on a practicable basis into Dollars transferable to the United States, promptly convert or cause to be converted such cash dividend, distribution or proceeds
      into Dollars (on the terms described in Section&#160;4.6 hereof) and will distribute promptly the amount thus received (net of (a)&#160;the applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the
      Depositary and (b)&#160;taxes and/or governmental charges) to the Holders of record as of the ADS Record Date in proportion to the number of American Depositary Shares held by such Holders respectively as of the ADS Record Date.&#160; The Depositary shall
      distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent.&#160; Any such fractional amounts shall be rounded down to the nearest whole cent and so distributed to Holders entitled thereto.&#160;
      Holders and Beneficial Owners understand that in converting Foreign Currency, amounts received on conversion are calculated at a rate which exceeds the number of decimal places used by the Depositary to report distribution rates.&#160; The excess amount
      may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses payable or owing hereunder and shall not be subject to escheatment.<font style="font-weight: bold;">&#160; </font>If the Company, the
      Custodian or the Depositary is required to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount distributed
      to Holders of the ADSs representing such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority.&#160; Evidence of payment thereof
      by the Company shall be forwarded by the Company to the Depositary upon request.&#160; The Depositary shall 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 with governmental agencies such reports as are necessary to obtain benefits under the applicable tax treaties for the Holders and Beneficial Owners of Receipts.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">14</font></div>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.2&#160;&#160;<u>Distribution in Shares</u>.&#160; If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the
      Company shall cause such Shares to be deposited with the Custodian and registered, as the case may be, in the name of the Depositary, the Custodian or any of their nominees.&#160; Upon receipt of confirmation of such deposit from the Custodian, the
      Depositary shall establish the ADS Record Date upon the terms described in Section&#160;4.7 hereof and shall, subject to Section&#160;5.9 hereof, either (i)&#160;distribute to the Holders as of the ADS Record Date in proportion to the number of ADSs held as of the
      ADS Record Date, additional ADSs, which represent in the aggregate the number of Shares received as such dividend, or free distribution, subject to the other terms of this Deposit Agreement (including, without limitation, (a)&#160;the applicable fees and
      charges of, and expenses incurred by, the Depositary and (b)&#160;taxes and/or governmental charges), or (ii)&#160;if additional ADSs are not so distributed, each ADS issued and outstanding after the ADS Record Date shall, to the extent permissible by law,
      thenceforth also represent rights and interests in the additional Shares distributed upon the Deposited Securities represented thereby (net of (a)&#160;the applicable fees and charges of, and expenses incurred by, the Depositary and (b)&#160;taxes and/or
      governmental charges).&#160; In lieu of Delivering fractional ADSs, the Depositary shall sell the number of Shares represented by the aggregate of such fractions and distribute the proceeds upon the terms described in Section&#160;4.1 hereof. The Depositary
      may withhold any such distribution of Receipts if it has not received satisfactory assurances from the Company (including an Opinion of Counsel furnished at the expense of the Company) that such distribution does not require registration under the
      Securities Act or is exempt from registration under the provisions of the Securities Act.&#160; To the extent such distribution may be withheld, the Depositary may dispose of all or a portion of such distribution in such amounts and in such manner,
      including by public or private sale, as the Depositary deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such sale (after deduction of applicable taxes and/or governmental charges and fees and charges of,
      and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary) to Holders entitled thereto upon the terms described in Section&#160;4.1 hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.3&#160;&#160;<u>Elective Distributions in Cash or Shares</u>.&#160; Whenever the Company intends to distribute a dividend payable at the election of the holders of
      Shares in cash or in additional Shares, the Company shall give notice thereof to the Depositary at least 30&#160;days prior to the proposed distribution stating whether or not it wishes such elective distribution to be made available to Holders of ADSs.&#160;
      Upon receipt of notice indicating that the Company wishes such elective distribution to be made available to Holders of ADSs, the Depositary shall consult with the Company to determine, and the Company shall assist the Depositary in its
      determination, whether it is lawful and reasonably practicable to make such elective distribution available to the Holders of ADSs.&#160; The Depositary shall make such elective distribution available to Holders only if (i)&#160;the Company shall have timely
      requested that the elective distribution is available to Holders of ADRs, (ii)&#160;the Depositary shall have received satisfactory documentation within the terms of Section&#160;5.7 hereof (including, without limitation, any legal opinions of counsel in any
      applicable jurisdiction that the Depositary in its reasonable discretion may request, at the expense of the Company) and (iii)&#160;the Depositary shall have determined that such distribution is lawful and reasonably practicable.&#160; If the above conditions
      are not satisfied, the Depositary shall, to the extent permitted by law, distribute to the Holders, on the basis of the same determination as is made in the local market in respect of the Shares for which no election is made, either cash upon the
      terms described in Section&#160;4.1 hereof or additional ADSs representing such additional Shares upon the terms described in Section&#160;4.2 hereof.&#160; If the above conditions are satisfied, the Depositary shall establish an ADS Record Date (on the terms
      described in Section&#160;4.7 hereof) and establish procedures to enable Holders to elect the receipt of the proposed dividend in cash or in additional ADSs.&#160; The Company shall assist the Depositary in establishing such procedures to the extent
      necessary.&#160; Subject to Section&#160;5.9 hereof, if a Holder elects to receive the proposed dividend in cash, the dividend shall be distributed upon the terms described in Section&#160;4.1 hereof or in ADSs, the dividend shall be distributed upon the terms
      described in Section&#160;4.2 hereof.&#160; Nothing herein shall obligate the Depositary to make available to Holders a method to receive the elective dividend in Shares (rather than ADSs).&#160; There can be no assurance that Holders generally, or any Holder in
      particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of Shares.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">15</font></div>
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    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.4&#160;&#160;<u>Distribution of Rights to Purchase Shares</u>.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Distribution to ADS Holders</u>.&#160; Whenever the Company intends to distribute to the holders of the Deposited
        Securities rights to subscribe for additional Shares, the Company shall give notice thereof to the Depositary at least 60&#160;days prior to the proposed distribution stating whether or not it wishes such rights to be made available to Holders of ADSs.&#160;
        Upon timely receipt of a notice indicating that the Company wishes such rights to be made available to Holders of ADSs, the Depositary shall consult with the Company to determine, and the Company shall determine, whether it is lawful and reasonably
        practicable to make such rights available to the Holders.&#160; The Depositary shall make such rights available to Holders only if (i)&#160;the Company shall have timely requested that such rights be made available to Holders, (ii)&#160;the Depositary shall have
        received satisfactory documentation within the terms of Section&#160;5.7 hereof and (iii)&#160;the Depositary shall have determined that such distribution of rights is lawful and reasonably practicable.&#160; In the event any of the conditions set forth above are
        not satisfied, the Depositary shall proceed with the sale of the rights as contemplated in Section&#160;4.4(b) below or, if timing or market conditions may not permit, do nothing thereby allowing such rights to lapse.&#160; In the event all conditions set
        forth above are satisfied, the Depositary shall establish an ADS Record Date (upon the terms described in Section&#160;4.7 hereof) and establish procedures to distribute such rights (by means of warrants or otherwise) and to enable the Holders to
        exercise the rights (upon payment of applicable fees and charges of, and expenses incurred by, the Depositary and taxes and/or other governmental charges).&#160; Nothing herein shall obligate the Depositary to make available to the Holders a method to
        exercise such rights to subscribe for Shares (rather than ADSs).</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Sale of Rights</u>.&#160; If (i)&#160;the Company does not timely request the Depositary to make the rights available to
        Holders or requests that the rights not be made available to Holders, (ii)&#160;the Depositary fails to receive satisfactory documentation within the terms of Section&#160;5.7 hereof or determines it is not lawful or reasonably practicable to make the rights
        available to Holders or (iii)&#160;any rights made available are not exercised and appear to be about to lapse, the Depositary shall determine whether it is lawful and reasonably practicable to sell such rights, and if it so determines that it is lawful
        and reasonably practicable, endeavour to sell such rights in a riskless principal capacity or otherwise, at such place and upon such terms (including public or private sale) as it may deem proper.&#160; The Company shall assist the Depositary to the
        extent necessary to determine such legality and practicability.&#160; The Depositary shall, upon such sale, convert and distribute proceeds of such sale (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division
        or Affiliate(s) of the Depositary and taxes and/or governmental charges) upon the terms set forth in Section&#160;4.1 hereof.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Lapse of Rights</u>.&#160; If the Depositary is unable to make any rights available to Holders upon the terms
        described in Section&#160;4.4(a) hereof or to arrange for the sale of the rights upon the terms described in Section&#160;4.4(b) hereof, the Depositary shall allow such rights to lapse.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary shall not be responsible for (i)&#160;any failure to determine that it may be lawful or practicable to make such rights available to Holders in general or any Holders in
      particular, (ii)&#160;any foreign exchange exposure or loss incurred in connection with such sale or exercise or (iii)&#160;the content of any materials forwarded to the Holders on behalf of the Company in connection with the rights distribution.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">16</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything to the contrary in this Section&#160;4.4, if registration (under the Securities Act or any other applicable law) of the rights or the securities to which any
      rights relate may be required in order for the Company to offer such rights or such securities to Holders and to sell the securities represented by such rights, the Depositary will not distribute such rights to the Holders (i)&#160;unless and until a
      registration statement under the Securities Act covering such offering is in effect or (ii)&#160;unless the Company furnishes at its expense the Depositary with opinion(s) of counsel for the Company in the United States and counsel to the Company in any
      other applicable country in which rights would be distributed, in each case satisfactory to the Depositary, to the effect that the offering and sale of such securities to Holders and Beneficial Owners are exempt from, or do not require registration
      under, the provisions of the Securities Act or any other applicable laws.&#160; In the event that the Company, the Depositary or the Custodian shall be required to withhold and does withhold from any distribution of property (including rights) an amount
      on account of taxes and/or other governmental charges, the amount distributed to the Holders shall be reduced accordingly.&#160; 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 charges which the Depositary is obligated to withhold, the Depositary may dispose of all or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in
      such manner, including by public or private sale, as the Depositary deems necessary and practicable to pay any such taxes and/or charges.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">There can be no assurance that Holders generally, or any Holder in particular, will be given the opportunity to exercise rights on the same terms and conditions as the holders of
      Shares or be able to exercise such rights.&#160; Nothing herein shall obligate the Company to file any registration statement in respect of any rights or Shares or other securities to be acquired upon the exercise of such rights or otherwise to register
      or qualify the offer or sale of such rights or securities under the applicable law of any other jurisdiction for any purpose.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.5&#160;&#160;<u>Distributions Other Than Cash, Shares or Rights to Purchase Shares</u>.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Whenever the Company intends to distribute to the holders of Deposited Securities property other than cash, Shares
        or rights to purchase additional Shares, the Company shall give notice thereof to the Depositary at least 30&#160;days prior to the proposed distribution and shall indicate whether or not it wishes such distribution to be made to Holders of ADSs.&#160; Upon
        receipt of a notice indicating that the Company wishes such distribution be made to Holders of ADSs, the Depositary shall determine whether such distribution to Holders is lawful and practicable.&#160; The Depositary shall not make such distribution
        unless (i)&#160;the Company shall have timely requested the Depositary to make such distribution to Holders, (ii)&#160;the Depositary shall have received satisfactory documentation within the terms of Section&#160;5.7 hereof and (iii)&#160;the Depositary shall have
        determined that such distribution is lawful and reasonably practicable.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Upon receipt of satisfactory documentation and the request of the Company to distribute property to Holders of ADSs
        and after making the requisite determinations set forth in (a)&#160;above, the Depositary may distribute the property so received to the Holders of record as of the ADS Record Date, in proportion to the number of ADSs held by such Holders respectively
        and in such manner as the Depositary may deem practicable for accomplishing such distribution (i)&#160;upon receipt of payment or net of the applicable fees and charges of, and expenses incurred by, the Depositary&#160; and (ii)&#160;net of any taxes and/or other
        governmental charges.&#160; The Depositary may dispose of all or a portion of the property so distributed and deposited, in such amounts and in such manner (including public or private sale) as the Depositary may deem practicable or necessary to satisfy
        any taxes (including applicable interest and penalties) and other governmental charges applicable to the distribution.</font></div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">17</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If (i)&#160;the Company does not request the Depositary to make such distribution to Holders or requests the Depositary
        not to make such distribution to Holders, (ii)&#160;the Depositary does not receive satisfactory documentation within the terms of Section&#160;5.7 hereof or (iii)&#160;the Depositary determines that all or a portion of such distribution is not reasonably
        practicable or feasible, the Depositary shall endeavor to sell or cause such property to be sold in a public or private sale, at such place or places and upon such terms as it may deem proper and shall distribute the net proceeds, if any, of such
        sale received by the Depositary (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges) to the Holders as of the ADS Record Date
        upon the terms of Section&#160;4.1 hereof.&#160; If the Depositary is unable to sell such property, the Depositary may dispose of such property in any way it deems reasonably practicable under the circumstances for nominal or no consideration and Holders and
        Beneficial Owners shall have no rights thereto or arising therefrom.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.6&#160;&#160;<u>Conversion of Foreign Currency</u>.&#160; 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 in the judgment of the Depositary such Foreign Currency can at such time be converted on a practicable basis (by sale or in any other manner that it may determine
      in accordance with applicable law) into Dollars transferable to the United States and distributable to the Holders entitled thereto, 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 shall distribute such Dollars (net of any fees, expenses, taxes and/or other governmental charges incurred in the process of such conversion) in accordance with the terms of the applicable sections of this Deposit
      Agreement.&#160; If the Depositary shall have distributed warrants or other instruments that entitle the holders thereof to such Dollars, the Depositary shall distribute such Dollars to the holders of such warrants and/or instruments upon surrender
      thereof for cancellation, in either case without liability for interest thereon. Such distribution may be made upon an averaged or other practicable basis without regard to any distinctions among Holders on account of exchange restrictions, the date
      of delivery of any Receipt or otherwise.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In converting Foreign Currency, amounts received on conversion may be calculated at a rate which exceeds the number of decimal places used by the Depositary to report distribution
      rates (which in any case will not be less than two decimal places).&#160; Any excess amount may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses payable or owing hereunder and shall not be
      subject to escheatment.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If such conversion or distribution can be effected only with the approval or license of any government or agency thereof, the Depositary may file such application for approval or
      license, if any, as it may deem necessary, practicable and at nominal cost and expense.&#160; Nothing herein shall obligate the Depositary to file or cause to be filed, or to seek effectiveness of any such application or license.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If at any time the Depositary shall determine that in its judgment the conversion of any Foreign Currency and the transfer and distribution of proceeds of such conversion received
      by the Depositary is not practical or lawful, or if any approval or license of any governmental authority or agency thereof that is required for such conversion, transfer and distribution is denied, or not obtainable at a reasonable cost, within a
      reasonable period or otherwise sought, the Depositary shall, in its sole discretion but subject to applicable laws and regulations, either (i)&#160;distribute the Foreign Currency (or an appropriate document evidencing the right to receive such Foreign
      Currency) received by the Depositary to the Holders entitled to receive such Foreign Currency or (ii)&#160;hold such Foreign Currency uninvested and without liability for interest thereon for the respective accounts of the Holders entitled to receive the
      same.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">18</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Holders and Beneficial Owners are directed to refer to Section 7.9 hereof for certain disclosure related to conversion of Foreign Currency.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.7&#160;&#160;<u>Fixing of Record Date</u>.&#160; Whenever necessary in connection with any distribution (whether in cash, Shares, rights, or other distribution), 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 or solicitation 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 (the &#8220;ADS Record Date&#8221;), as close as practicable to the record date fixed by the Company with respect to the Shares (if
      applicable), for the determination of the Holders who shall be entitled to receive such distribution, to give instructions for the exercise of voting rights at any such meeting, to give or withhold such consent, to receive such notice or solicitation
      or to otherwise take action or to exercise the rights of Holders with respect to such changed number of Shares represented by each American Depositary Share or for any other reason.&#160; Subject to applicable law and the provisions of Sections 4.1
      through 4.6 hereof and to the other terms and conditions of this Deposit Agreement, only the Holders of record at the close of business in New York on such ADS Record Date shall be entitled to receive such distribution, to give such voting
      instructions, to receive such notice or solicitation, or otherwise take action.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.8&#160;&#160;<u>Voting of Deposited Securities</u>.&#160; Subject to the next sentence, as soon as practicable after receipt of notice of any meeting at which the
      holders of Deposited Securities are entitled to vote, or of solicitation of consents or proxies from holders of Deposited Securities, the Depositary shall fix the ADS Record Date in respect of such meeting or such solicitation of consents or proxies.
      The Depositary shall, if requested by the Company in writing in a timely manner (the Depositary having no obligation to take any further action if the request shall not have been received by the Depositary at least 30 Business Days prior to the date
      of such vote or meeting) and at the Company&#8217;s expense, and provided no U.S. legal prohibitions exist, mail by regular, ordinary mail delivery (or by electronic mail or as otherwise may be agreed between the Company and the Depositary in writing from
      time to time) or otherwise distribute as soon as practicable after receipt thereof to Holders as of the ADS Record Date: (a) such notice of meeting or solicitation of consent or proxy; (b) a statement that the Holders at the close of business on the
      ADS Record Date will be entitled, subject to any applicable law, the provisions of this Deposit Agreement, the Company&#8217;s Memorandum and Articles of Association and the provisions of or governing the Deposited Securities (which provisions, if any,
      shall be summarized in pertinent part by the Company), to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by such Holder&#8217;s American Depositary Shares; and (c) a brief
      statement as to the manner in which such voting instructions may be given to the Depositary, or in which instructions may be deemed to have been given in accordance with this Section 4.8, including an express indication that instructions may be given
      (or be deemed to have been given in accordance with the immediately following paragraph of this section if no instruction is received) to the Depositary to give a discretionary proxy to a person or persons designated by the Company. Voting
      instructions may be given only in respect of a number of American Depositary Shares representing an integral number of Deposited Securities.&#160; Upon the timely receipt of voting instructions of a Holder on the ADS Record Date in the manner specified by
      the Depositary, the Depositary shall endeavor, insofar as practicable and permitted under applicable law, the provisions of this Deposit Agreement, the Company&#8217;s Memorandum and Articles of Association and the provisions of or governing the Deposited
      Securities, to vote or cause the Custodian to vote the Deposited Securities (in person or by proxy) represented by American Depositary Shares evidenced by such Receipt in accordance with such voting instructions.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">19</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In the event that (i) the Depositary timely receives voting instructions from a Holder which fail to specify the manner in which the Depositary is to vote the Deposited Securities
      represented by such Holder&#8217;s ADSs or (ii)&#160;no timely instructions are received by the Depositary from a Holder with respect to any of the Deposited Securities represented by the ADSs held by such Holder on the ADS Record Date, the Depositary shall
      (unless otherwise specified in the notice distributed to Holders) deem such Holder 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, however, that no such instruction shall be deemed to have been 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, if applicable) that (x) the Company does not wish to give such proxy, (y) the Company is aware or
      should reasonably be aware that substantial opposition exists from Holders against the outcome for which the person designated by the Company would otherwise vote or (z) the outcome for which the person designated by the Company would otherwise vote
      would materially and adversely affect the rights of holders of Deposited Securities, provided, further, that the Company will have no liability to any Holder or Beneficial Owner resulting from such notification.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In the event that voting on any resolution or matter is conducted on a show of hands basis in accordance with the Memorandum and Articles of Association, the Depositary will
      refrain from voting and the voting instructions (or the deemed voting instructions, as set out above) received by the Depositary from Holders shall lapse.&#160; The Depositary will have no obligation to demand voting on a poll basis with respect to any
      resolution and shall have no liability to any Holder or Beneficial Owner for not having demanded voting on a poll basis.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Neither the Depositary nor the Custodian shall, under any circumstances exercise any discretion as to voting, and neither the Depositary nor the Custodian shall vote, attempt to
      exercise the right to vote, or in any way make use of for purposes of establishing a quorum or otherwise, the Deposited Securities represented by ADSs except pursuant to and in accordance with such written instructions from Holders, including the
      deemed instruction to the Depositary to give a discretionary proxy to a person designated by the Company. Deposited Securities represented by ADSs for which (i) no timely voting instructions are received by the Depositary from the Holder, or (ii)
      timely voting instructions are received by the Depositary from the Holder but such voting instructions fail to specify the manner in which the Depositary is to vote the Deposited Securities represented by such Holder&#8217;s ADSs, shall be voted in the
      manner provided in this Section 4.8. Notwithstanding anything else contained herein, and subject to applicable law, regulation and the Memorandum and Articles of Association, the Depositary shall, if so requested in writing by the Company, represent
      all Deposited Securities (whether or not voting instructions have been received in respect of such Deposited Securities from Holders as of the ADS Record Date) for the purpose of establishing quorum at a meeting of shareholders.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">There can be no assurance that Holders or Beneficial Owners generally or any Holder or Beneficial Owner in particular will receive the notice described above with sufficient time
      to enable the Holder to return voting instructions to the Depositary in a timely manner.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">20</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding the above, save for applicable provisions of the law of the Cayman Islands, and in accordance with the terms of Section&#160;5.3 hereof, the Depositary shall not be
      liable for any failure to carry out any instructions to vote any of the Deposited Securities or the manner in which such vote is cast or the effect of such vote.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.9&#160;&#160;<u>Changes Affecting Deposited Securities</u>.&#160; Upon any change in par value, split&#8209;up, subdivision, cancellation, consolidation or any other
      reclassification of Deposited Securities or upon any recapitalization, reorganization, amalgamation, merger or consolidation or sale of assets affecting the Company or to which it is otherwise a party, any securities which shall be received by the
      Depositary or the Custodian in exchange for, or in conversion of or replacement or otherwise in respect of, such Deposited Securities shall, to the extent permitted by law, be treated as new Deposited Securities under this Deposit Agreement and the
      Receipts shall, subject to the provisions of this Deposit Agreement and applicable law, evidence American Depositary Shares representing the right to receive such additional securities.&#160; Alternatively, the Depositary may, with the Company&#8217;s approval,
      and shall, if the Company shall so request, subject to the terms of this Deposit Agreement and receipt of an Opinion of Counsel furnished at the Company&#8217;s expense satisfactory to the Depositary (stating that such distributions are not in violation of
      any applicable laws or regulations), execute and deliver additional Receipts, as in the case of a stock dividend on the Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts. In either case, as well as in the
      event of newly deposited Shares, necessary modifications to the form of Receipt contained in <u>Exhibit A</u> and <u>Exhibit B</u> hereto, specifically describing such new Deposited Securities and/or corporate change, shall also be made. The
      Company agrees that it will, jointly with the Depositary, amend the Registration Statement on Form F&#8209;6 as filed with the Commission to permit the issuance of such new form of Receipt. Notwithstanding the foregoing, in the event that any security so
      received may not be lawfully distributed to some or all Holders, the Depositary may, with the Company&#8217;s approval, and shall, if the Company requests, subject to receipt of an Opinion of Counsel (furnished at the Company&#8217;s expense) satisfactory to the
      Depositary that such action is not in violation of any applicable laws or regulations, sell such securities at public or private sale, at such place or places and upon such terms as it may deem proper and may allocate the net proceeds of such sales
      (net of fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges) for the account of the Holders otherwise entitled to such securities upon an averaged or
      other practicable basis without regard to any distinctions among such Holders and distribute the net proceeds so allocated to the extent practicable as in the case of a distribution received in cash pursuant to Section&#160;4.1 hereof. The Depositary
      shall not be responsible for (i)&#160;any failure to determine that it may be lawful or feasible to make such securities available to Holders in general or to any Holder in particular, (ii)&#160;any foreign exchange exposure or loss incurred in connection with
      such sale or (iii)&#160;any liability to the purchaser of such securities.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.10&#160;&#160;<u>Available Information</u>.&#160;&#160;The Company is subject to the periodic reporting requirements of the Exchange Act applicable to foreign private
      issuers (as defined in Rule 405 of the Securities Act) and accordingly files certain information with the Commission.&#160; These reports and documents can be inspected and copied at the Commission&#8217;s website at www.sec.gov or at the public reference
      facilities maintained by the Commission located at 100&#160;F&#160;Street, N.E., Washington D.C.&#160;20549, U.S.A.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">21</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.11&#160;&#160;<u>Reports</u>.&#160;&#160;The Depositary shall make available during normal business hours on any Business Day for inspection by Holders at its Corporate
      Trust Office any reports and communications, including any proxy soliciting materials, received from the Company which are both received by the Depositary, the Custodian, or the nominee of either of them as the holder of the Deposited Securities and
      made generally available to the holders of such Deposited Securities by the Company.&#160; The Company agrees to provide to the Depositary, at the Company&#8217;s expense, all such documents that it provides to the Custodian.&#160; Unless otherwise agreed in writing
      by the Company and the Depositary, the Depositary shall, at the expense of the Company and in accordance with Section&#160;5.6 hereof, also mail to Holders by regular, ordinary mail delivery or by electronic transmission (if agreed by the Company and the
      Depositary) copies of notices and reports when furnished by the Company pursuant to Section&#160;5.6 hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.12&#160;&#160;<u>List of Holders</u>.&#160;&#160;Promptly upon written 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 Receipts are registered on the books of the Depositary.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 4.13<u>&#160;&#160;Taxation; Withholding</u>.&#160;&#160;The Depositary will, and will instruct the Custodian to, forward to the Company or its agents such information from
      its records as the Company may request to enable the Company or its agents to file necessary tax reports with governmental authorities or agencies. The Depositary, the Custodian or the Company and its agents may, but shall not be obligated to, file
      such reports as are necessary to reduce or eliminate applicable taxes on dividends and on other distributions in respect of Deposited Securities under applicable tax treaties or laws for the Holders and Beneficial Owners. Holders and Beneficial
      Owners of American Depositary Shares may be required from time to time, and in a timely manner to provide and/or file such proof of taxpayer status, residence and beneficial ownership (as applicable), to execute such certificates and to make such
      representations and warranties, or to provide any other information or documents, as the Depositary or the Custodian may deem necessary or proper to fulfill the Depositary&#8217;s or the Custodian&#8217;s obligations under applicable law. The Holders and
      Beneficial Owners shall indemnify the Depositary, the Company, the Custodian, the Agents and their respective directors, officers, employees, agents and Affiliates against, and hold each of them harmless from, any claims by any governmental authority
      with respect to taxes, additions to tax, penalties or interest arising out of any refund of taxes, reduced rate of withholding at source or other tax benefit obtained by the Beneficial Owner or Holder or out of or in connection with any inaccuracy in
      or omission from any such proof, certificate, representation, warranty, information or document furnished by or on behalf of such Holder or Beneficial Owner. The obligations of Holders and Beneficial Owners under this Section 4.13 shall survive any
      transfer of Receipts, any surrender of Receipts and withdrawal of Deposited Securities or the termination of this Deposit Agreement.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">22</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company shall remit to the appropriate governmental authority or agency any amounts required to be withheld by the Company and owing to such governmental authority or agency.&#160;
      Upon any such withholding, the Company shall remit to the Depositary information, in a form reasonably satisfactory to the Depositary, about such taxes and/or governmental charges withheld or paid, and, if so requested, the tax receipt (or other
      proof of payment to the applicable governmental authority) therefor.&#160; The Depositary shall, to the extent required by U.S. law, report to Holders (i)&#160;any taxes withheld by it; (ii)&#160;any taxes withheld by the Custodian, subject to information being
      provided to the Depositary by the Custodian and (iii)&#160;any taxes withheld by the Company, subject to information being provided to the Depositary by the Company. The Depositary and the Custodian shall not be required to provide the Holders with any
      evidence of the remittance by the Company (or its agents) of any taxes withheld, or of the payment of taxes by the Company, except to the extent the evidence is provided by the Company to the Depositary.&#160; None of the Depositary, the Custodian or the
      Company shall be liable for the failure by any Holder or Beneficial Owner to obtain the benefits of credits on the basis of non&#8209;U.S. tax paid against such Holder&#8217;s or Beneficial Owner&#8217;s income tax liability.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">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 shall withhold the amount required to be withheld and 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 such taxes and/or charges and the Depositary shall distribute the net proceeds of any such sale after deduction of such taxes and/or charges to the Holders entitled
      thereto in proportion to the number of American Depositary Shares held by them respectively.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary is under no obligation to provide the Holders and Beneficial Owners with any information about the tax status of the Company.&#160; The Depositary shall not incur any
      liability for any tax consequences that may be incurred by Holders and Beneficial Owners on account of their ownership of the American Depositary Shares, including without limitation, tax consequences resulting from the Company (or any of its
      subsidiaries) being treated as a &#8220;Passive Foreign Investment Company&#8221; (as defined in the U.S. Internal Revenue Code of 1986, as amended and the regulations issued thereunder) or otherwise.</div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">ARTICLE V.</font><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"><br>
      </font><br>
      <font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">THE DEPOSITARY, THE CUSTODIAN AND THE COMPANY</font></div>
    <div><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.1&#160;&#160;<u>Maintenance of Office and Transfer Books by the Registrar</u>.&#160;&#160;Until termination of this Deposit Agreement in accordance with its terms, the
      Depositary or if a Registrar for the Receipts shall have been appointed, the Registrar shall maintain in the Borough of Manhattan, the City of New York, an office and facilities for the execution and delivery, registration, registration of transfers,
      combination and split&#8209;up of Receipts, the surrender of Receipts and the Delivery and withdrawal of Deposited Securities in accordance with the provisions of this Deposit Agreement.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">23</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary or the Registrar as applicable, shall keep books for the registration of Receipts and transfers of Receipts which at all reasonable times shall be open for
      inspection by the Company and by the Holders of such Receipts, provided that such inspection shall not be, to the Depositary&#8217;s or the Registrar&#8217;s knowledge, for the purpose of communicating with Holders of such Receipts in the interest of a business
      or object other than the business of the Company or other than a matter related to this Deposit Agreement or the Receipts.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary or the Registrar, as applicable, may close the transfer books with respect to the Receipts, at any time and from time to time, when deemed necessary or advisable by
      it in connection with the performance of its duties hereunder, or at the reasonable written request of the Company.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If any Receipts or the American Depositary Shares evidenced thereby are listed on one or more stock exchanges or automated quotation systems in the United States, the Depositary
      shall act as Registrar or appoint a Registrar or one or more co&#8209;registrars for registration of Receipts and transfers, combinations and split&#8209;ups, and to countersign such Receipts in accordance with any requirements of such exchanges or systems. Such
      Registrar or co&#8209;registrars may be removed and a substitute or substitutes appointed by the Depositary.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If any Receipts or the American Depositary Shares evidenced thereby are listed on one or more securities exchanges, markets or automated quotation systems, (i)&#160;the Depositary shall
      be entitled to, and shall, take or refrain from taking such action(s) as it may deem necessary or appropriate to comply with the requirements of such securities exchange(s), market(s) or automated quotation system(s) applicable to it, notwithstanding
      any other provision of this Deposit Agreement; and (ii)&#160;upon the reasonable request of the Depositary, the Company shall provide the Depositary such information and assistance as may be reasonably necessary for the Depositary to comply with such
      requirements, to the extent that the Company may lawfully do so.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Each Registrar and co-registrar appointed under this Section 5.1 shall give notice in writing to the Depositary accepting such appointment and agreeing to be bound by the
      applicable terms of the Deposit Agreement.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.2&#160;&#160;<u>Exoneration</u>.&#160;&#160;None of the Depositary, the Custodian or the Company shall be obligated to do or perform any act which is inconsistent with
      the provisions of this Deposit Agreement or shall incur any liability to Holders, Beneficial Owners or any third parties (i)&#160;if the Depositary, the Custodian or the Company or their respective controlling persons or agents (including without
      limitation, the Agents) shall be prevented or forbidden from, or delayed in, doing or performing any act or thing required by the terms of this Deposit Agreement, by reason of any provision of any present or future law or regulation of the United
      States or any state thereof, the Cayman Islands or any other country, or of any other governmental authority or regulatory authority or stock exchange, or on account of the possible criminal or civil penalties or restraint, or by reason of any
      provision, present or future, of the Memorandum and Articles of Association or any provision of or governing any Deposited Securities, or by reason of any act of God or war or other circumstances beyond its control (including, without limitation,
      nationalization, expropriation, currency restrictions, work stoppage, strikes, civil unrest, revolutions, rebellions, explosions and computer failure), (ii)&#160;by reason of any exercise of, or failure to exercise, any discretion provided for in this
      Deposit Agreement or in the Memorandum and Articles of Association or provisions of or governing Deposited Securities, (iii)&#160;for any action or inaction of the Depositary, the Custodian or the Company or their respective controlling persons or agents
      (including without limitation, the Agents) in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, any Beneficial Owner or authorized representative thereof, or any other
      person believed by it in good faith to be competent to give such advice or information, (iv)&#160;for the inability by a Holder or Beneficial Owner to benefit from any distribution, offering, right or other benefit which is made available to holders of
      Deposited Securities but is not, under the terms of this Deposit Agreement, made available to Holders of American Depositary Shares or (v)&#160;for any special, consequential, indirect or punitive damages for any breach of the terms of this Deposit
      Agreement or otherwise.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">24</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary, its controlling persons, its agents (including without limitation, the Agents), the Custodian and the Company, its controlling persons and its agents may rely and
      shall be protected in acting upon any written notice, request, opinion or other document believed by it to be genuine and to have been signed or presented by the proper party or parties.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">No disclaimer of liability under the Securities Act or the Exchange Act is intended by any provision of this Deposit Agreement.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.3&#160;&#160;<u>Standard of Care</u>.&#160;&#160;The Company and the Depositary and their respective directors, officers, Affiliates, employees and agents (including
      without limitation, the Agents) assume no obligation and shall not be subject to any liability under this Deposit Agreement or any Receipts to any Holder(s) or Beneficial Owner(s) or other persons, except in accordance with Section&#160;5.8 hereof,
      provided, that the Company and the Depositary and their respective directors, officers, Affiliates, employees and agents (including without limitation, the Agents) agree to perform their respective obligations specifically set forth in this Deposit
      Agreement or the applicable ADRs without gross negligence or willful misconduct.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Without limitation of the foregoing, neither the Depositary, nor the Company, nor any of their respective controlling persons, directors, officers, affiliates, employees or agents
      (including without limitation, the Agents), 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 Receipts, which in its opinion may involve it
      in expense or liability, unless indemnity satisfactory to it against all expenses (including fees and disbursements of counsel) and liabilities be furnished as often as may be required (and no Custodian shall be under any obligation whatsoever with
      respect to such proceedings, the responsibility of the Custodian being solely to the Depositary).</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary and its directors, officers, affiliates, employees and agents (including without limitation, the Agents) shall not be liable for any failure to carry out any
      instructions to vote any of the Deposited Securities, or for the manner in which any vote is cast or the effects of any vote.&#160; The Depositary shall not incur any liability for any failure to determine that any distribution or action may be lawful or
      reasonably practicable, for the content of any information submitted to it by the Company for distribution to the Holders or for any inaccuracy of any translation thereof, for any investment risk associated with acquiring an interest in the Deposited
      Securities, for the validity or worth of the Deposited Securities or for any tax consequences that may result from the ownership of ADSs, Shares or Deposited Securities, for the credit&#8209;worthiness of any third party, for allowing any rights to lapse
      upon the terms of this Deposit Agreement or for the failure or timeliness of any notice from the Company, or for any action or non action by it in reliance upon the opinion, advice of or information from legal counsel, accountants, any person
      presenting Shares for deposit, any Holder or any other person believed by it in good faith to be competent to give such advice or information.&#160; The Depositary and its agents (including without limitation, the Agents) 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 gross negligence or willful misconduct while it acted as Depositary.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">25</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.4&#160;&#160;<u>Resignation and Removal of the Depositary; Appointment of Successor Depositary</u>.&#160;&#160;The Depositary may at any time resign as Depositary
      hereunder by written notice of resignation delivered to the Company, such resignation to be effective on the earlier of (i)&#160;the 90th day after delivery thereof to the Company (whereupon the Depositary shall, in the event no successor depositary has
      been appointed by the Company, be entitled to take the actions contemplated in Section&#160;6.2 hereof) and (ii) the appointment by the Company of a successor depositary and its acceptance of such appointment as hereinafter provided, save that, any
      amounts, fees, costs or expenses owed to the Depositary hereunder or in accordance with any other agreements otherwise agreed in writing between the Company and the Depositary from time to time shall be paid to the Depositary prior to such
      resignation.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company shall use reasonable efforts to appoint such successor depositary, and give notice to the Depositary of such appointment, not more than 90&#160;days after delivery by the
      Depositary of written notice of resignation as provided in this Section&#160;5.4.&#160; In the event that notice of the appointment of a successor depositary is not provided by the Company in accordance with the preceding sentence, the Depositary shall be
      entitled to take the actions contemplated in Section&#160;6.2 hereof.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary may at any time be removed by the Company by written notice of such removal, which removal shall be effective on the later of (i)&#160;the 90th day after delivery thereof
      to the Depositary (whereupon the Depositary shall be entitled to take the actions contemplated in Section&#160;6.2 hereof if a successor depositary has not been appointed), and (ii)&#160; the appointment by the Company of a successor depositary and its
      acceptance of such appointment as hereinafter provided, save that, any amounts, fees, costs or expenses owed to the Depositary hereunder or in accordance with any other agreements otherwise agreed in writing between the Company and the Depositary
      from time to time shall be paid to the Depositary prior to such removal.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall use its best 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.&#160; Every successor depositary shall be required by the Company to 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 (except as required by applicable law), shall become fully vested with all the rights, powers, duties and obligations of its predecessor.&#160; The predecessor
      depositary, upon payment of all sums due to it and on the written request of the Company, shall (i)&#160;execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder (other than as contemplated in
      Sections 5.8 and 5.9 hereof), (ii)&#160;duly assign, transfer and deliver all right, title and interest to the Deposited Securities to such successor, and (iii)&#160;deliver to such successor a list of the Holders of all outstanding Receipts and such other
      information relating to Receipts and Holders thereof as the successor may reasonably request. Any such successor depositary shall promptly mail notice of its appointment to such Holders.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">26</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">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 and, notwithstanding anything to the contrary in this Deposit Agreement, the Depositary may assign or otherwise transfer all or any of its rights and benefits under this Deposit Agreement (including any cause of action arising in
      connection with it) to Deutsche Bank AG or any branch thereof or any entity which is a direct or indirect subsidiary or other affiliate of Deutsche Bank AG.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.5&#160;&#160;<u>The Custodian</u>.&#160;&#160;The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the
      Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it.&#160; If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other
      Custodian has previously been appointed hereunder, the Depositary shall promptly appoint a substitute custodian.&#160; The Depositary shall require such resigning or discharged Custodian to deliver the Deposited Securities held by it, together with all
      such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary.&#160; Whenever the Depositary determines, in its discretion, that it is appropriate to do
      so, it may appoint an additional entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian
      hereunder with respect to the Deposited Securities.&#160; After any such change, the Depositary shall give notice thereof in writing to all Holders.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the
      Deposited Securities without any further act or writing and shall be subject to the direction of the successor depositary. 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 to act on the direction of such successor depositary.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.6&#160;&#160;<u>Notices and Reports</u>.&#160;&#160;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 by such holders other than at a meeting, or of the taking of any action in respect of any cash or other distributions or the
      offering of any rights in respect of Deposited Securities, the Company shall transmit to the Depositary and the Custodian a copy of the notice thereof in English but otherwise in the form given or to be given to holders of Shares or other Deposited
      Securities. The Company shall also furnish to the Custodian and the Depositary a summary, in English, of any applicable provisions or proposed provisions of the Memorandum and Articles of Association that may be relevant or pertain to such notice of
      meeting or be the subject of a vote thereat.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">27</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company will also transmit to the Depositary (a)&#160;English language versions of the other notices, reports and communications which are made generally available by the Company to
      holders of its Shares or other Deposited Securities and (b)&#160;English language versions of the Company&#8217;s annual and other reports prepared in accordance with the applicable requirements of the Commission.&#160; The Depositary shall arrange, at the request
      of the Company and at the Company&#8217;s expense, for the mailing of copies thereof to all Holders, or by any other means as agreed between the Company and the Depositary (at the Company&#8217;s expense) or make such notices, reports and other communications
      available for inspection by all Holders, provided, that, the Depositary shall have received evidence sufficiently satisfactory to it, including in the form of an Opinion of Counsel regarding U.S. law or of any other applicable jurisdiction, furnished
      at the expense of the Company, as the Depositary reasonably requests, that the distribution of such notices, reports and any such other communications to Holders from time to time is valid and does not or will not infringe any local, U.S. or other
      applicable jurisdiction regulatory restrictions or requirements if so distributed and made available to Holders.&#160; 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. The Company has delivered to the Depositary and the Custodian a copy of the Memorandum and Articles of Association along with the provisions of or governing the Shares
      and any other Deposited Securities issued by the Company or any Affiliate of the Company, in connection with the Shares, in each case, to the extent not in English, along with a certified English translation thereof, and promptly upon any amendment
      thereto or change therein, the Company shall deliver to the Depositary and the Custodian a copy of such amendment thereto or change therein, to the extent not in English, along with a certified English translation thereof. The Depositary may rely
      upon such copy for all purposes of this Deposit Agreement.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary will make available, at the expense of the Company, a copy of any such notices, reports or communications issued by the Company and delivered to the Depositary for
      inspection by the Holders of the Receipts evidencing the American Depositary Shares representing such Shares governed by such provisions at the Depositary&#8217;s Corporate Trust Office, at the office of the Custodian and at any other designated transfer
      office.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">28</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.7&#160;&#160;<u>Issuance of Additional Shares, ADSs etc.</u>&#160;&#160;The Company agrees that in the event it or any of its Affiliates proposes (i)&#160;an issuance, sale
      or distribution of additional Shares, (ii)&#160;an offering of rights to subscribe for Shares or other Deposited Securities, (iii)&#160;an issuance of securities convertible into or exchangeable for Shares, (iv)&#160;an issuance of rights to subscribe for
      securities convertible into or exchangeable for Shares, (v)&#160;an elective dividend of cash or Shares, (vi)&#160;a redemption of Deposited Securities, (vii)&#160;a meeting of holders of Deposited Securities, or solicitation of consents or proxies, relating to any
      reclassification of securities, merger, subdivision, amalgamation or consolidation or transfer of assets, (viii)&#160;any reclassification, recapitalization, reorganization, merger, amalgamation, consolidation or sale of assets which affects the Deposited
      Securities or (ix) a distribution of property other than cash, Shares or rights to purchase additional Shares it will obtain U.S. legal advice and take all steps necessary to ensure that the application of the proposed transaction to Holders and
      Beneficial Owners does not violate the registration provisions of the Securities Act, or any other applicable laws (including, without limitation, the Investment Company Act of 1940, as amended, the Exchange Act or the securities laws of the states
      of the United States).&#160; In support of the foregoing, the Company will furnish to the Depositary at its request, at the Company&#8217;s expense, (a)&#160;a written opinion of U.S. counsel (satisfactory to the Depositary) stating whether or not application of
      such transaction to Holders and Beneficial Owners (1)&#160;requires a registration statement under the Securities Act to be in effect or (2)&#160;is exempt from the registration requirements of the Securities Act and/or (3) dealing with such other issues
      requested by the Depositary; (b)&#160;a written opinion of Cayman Islands counsel (satisfactory to the Depositary) stating that (1)&#160;making the transaction available to Holders and Beneficial Owners does not violate the laws or regulations of the Cayman
      Islands and (2) all requisite regulatory and corporate consents and approvals have been obtained in the Cayman Islands; and (c) as the Depositary may request, a written Opinion of Counsel in any other jurisdiction in which Holders or Beneficial
      Owners reside to the effect that making the transaction available to such Holders or Beneficial Owners does not violate the laws or regulations of such jurisdiction as well as certificates of the Company as to such matters as the Depositary may deem
      necessary or appropriate in the circumstances.&#160; If the filing of a registration statement is required, the Depositary shall not have any obligation to proceed with the transaction unless it shall have received evidence reasonably satisfactory to it
      that such registration statement has been declared effective and that such distribution is in accordance with all applicable laws or regulations.&#160; If, being advised by counsel, the Company determines that a transaction is required to be registered
      under the Securities Act, the Company will either (i)&#160;register such transaction to the extent necessary, (ii)&#160;alter the terms of the transaction to avoid the registration requirements of the Securities Act or (iii)&#160;direct the Depositary to take
      specific measures, in each case as contemplated in this Deposit Agreement, to prevent such transaction from violating the registration requirements of the Securities Act.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company agrees with the Depositary that neither the Company nor any of its Affiliates will at any time (i)&#160;deposit any Shares or other Deposited Securities, either upon
      original issuance or upon a sale of Shares or other Deposited Securities previously issued and reacquired by the Company or by any such Affiliate, or (ii)&#160;issue additional Shares, rights to subscribe for such Shares, securities convertible into or
      exchangeable for Shares or rights to subscribe for such securities, unless such transaction and the securities issuable in such transaction are exempt from registration under the Securities Act or have been registered under the Securities Act (and
      such registration statement has been declared effective).</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">29</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything else contained in this Deposit Agreement, nothing in this Deposit Agreement shall be deemed to obligate the Company to file any registration statement in
      respect of any proposed transaction.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.8&#160;&#160;<u>Indemnification</u>.&#160;&#160;The Company agrees to indemnify the Depositary, any Custodian and each of their respective directors, officers,
      employees, agents (including without limitation, the Agents) and Affiliates against, and hold each of them harmless from, any losses, liabilities, taxes, costs, claims, judgments, proceedings, actions, demands and any charges or expenses of any kind
      whatsoever (including, but not limited to, reasonable fees and expenses of counsel together with, in each case, value added tax and any similar tax charged or otherwise imposed in respect thereof) (collectively referred to as &#8220;<font style="font-weight: bold;">Losses</font>&#8221;) which the Depositary or any agent (including without limitation, the Agents) thereof may incur or which may be made against it as a result of or in connection with its appointment or the exercise of its
      powers and duties under this Agreement or that may arise (a)&#160;out of or in connection with any offer, issuance, sale, resale, transfer, deposit or withdrawal of Receipts, American Depositary Shares, the Shares, or other Deposited Securities, as the
      case may be, (b)&#160;out of or in connection with any offering documents in respect thereof or (c)&#160;out of or in connection with acts performed or omitted, including, but not limited to, any delivery by the Depositary on behalf of the Company of
      information regarding the Company in connection with this Deposit Agreement, the Receipts, the American Depositary Shares, the Shares, or any Deposited Securities, in any such case (i)&#160;by the Depositary, the Custodian or any of their respective
      directors, officers, employees, agents (including without limitation, the Agents) and Affiliates, except to the extent any such Losses arise out of the gross negligence or wilful misconduct of any of them, or (ii)&#160;by the Company or any of its
      directors, officers, employees, agents and Affiliates.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary agrees to indemnify the Company and hold it harmless from any Losses which may arise out of acts performed or omitted to be performed by the Depositary arising out
      of its gross negligence or wilful misconduct.&#160; Notwithstanding the above, in no event shall the Depositary or any of its directors, officers, employees, agents (including without limitation, the Agents) and/or Affiliates be liable for any special,
      consequential, indirect or punitive damages to the Company, Holders, Beneficial Owners or any other person.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Any person seeking indemnification hereunder (an &#8220;<font style="font-weight: bold;">Indemnified Person</font>&#8221;) shall notify the person from whom it is seeking indemnification (the
      &#8220;<font style="font-weight: bold;">Indemnifying Person</font>&#8221;) of the commencement of any indemnifiable action or claim promptly after such Indemnified Person becomes aware of such commencement (provided that the failure to make such notification
      shall not affect such Indemnified Person&#8217;s rights to indemnification except to the extent the Indemnifying Person is materially prejudiced by such failure) and shall consult in good faith with the Indemnifying Person as to the conduct of the defense
      of such action or claim that may give rise to an indemnity hereunder, which defense shall be reasonable under the circumstances. No Indemnified Person shall compromise or settle any action or claim that may give rise to an indemnity hereunder without
      the consent of the Indemnifying Person, which consent shall not be unreasonably withheld.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The obligations set forth in this Section shall survive the termination of this Deposit Agreement and the succession or substitution of any party hereto.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">30</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.9&#160;&#160;<u>Fees and Charges of Depositary</u>.&#160;&#160;The Company, the Holders, the Beneficial Owners, and persons depositing Shares or surrendering ADSs for
      cancellation and withdrawal of Deposited Securities shall be required to pay to the Depositary the Depositary&#8217;s fees and related charges identified as payable by them respectively as provided for under Article&#160;(9) of the Receipt.&#160; All fees and
      charges so payable may, at any time and from time to time, be changed by agreement between the Depositary and the Company, but, in the case of fees and charges payable by Holders and Beneficial Owners, only in the manner contemplated in Section&#160;6.1
      hereof.&#160; The Depositary shall provide, without charge, a copy of its latest fee schedule to anyone upon request.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary and the Company may reach separate agreement in relation to the payment of any additional remuneration to the Depositary in respect of any exceptional duties which
      the Depositary finds necessary or desirable and agreed by both parties in the performance of its obligations hereunder and in respect of the actual costs and expenses of the Depositary in respect of any notices required to be given to the Holders in
      accordance with Article&#160;(20) of the Receipt.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In connection with any payment by the Company to the Depositary:</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z01a7f529b35a4352861205a4c6e98e81">

        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">(i)</div>
          </td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">all fees, taxes, duties, charges, costs and expenses which are payable by the Company shall be paid or be procured to be paid by
              the Company (and any such amounts which are paid by the Depositary shall be reimbursed to the Depositary by the Company upon demand therefor);</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">(ii)</div>
          </td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">such payment shall be subject to all necessary applicable exchange control and other consents and approvals having been
              obtained. The Company undertakes to use its reasonable endeavours to obtain all necessary approvals that are required to be obtained by it in this connection; and</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top; font-weight: normal;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">(iii)</div>
          </td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">the Depositary may request, in its sole but reasonable discretion after reasonable consultation with the Company, an Opinion of
              Counsel regarding U.S. law, the laws of the Cayman Islands or of any other relevant jurisdiction, to be furnished at the expense of the Company, if at any time it deems it necessary to seek such an Opinion of Counsel regarding the validity of
              any action to be taken or instructed to be taken under this Agreement.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company agrees to promptly pay to the Depositary such other fees, charges and expenses and to reimburse the Depositary for such out&#8209;of&#8209;pocket expenses as the Depositary and the
      Company may agree to in writing from time to time.&#160; Responsibility for payment of such charges may at any time and from time to time be changed by agreement between the Company and the Depositary.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">All payments by the Company to the Depositary under this Section 5.9 shall be paid without set&#8209;off or counterclaim, and free and clear of and without deduction or withholding for
      or on account of, any present or future taxes, levies, imports, duties, fees, assessments or other charges of whatever nature, imposed by the Cayman Islands or by any department, agency or other political subdivision or taxing authority thereof or
      therein, and all interest, penalties or similar liabilities with respect thereto.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">31</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The right of the Depositary to receive payment of fees, charges and expenses as provided above shall survive the termination of this Deposit Agreement.&#160; As to any Depositary, upon
      the resignation or removal of such Depositary as described in Section&#160;5.4 hereof, such right shall extend for those fees, charges and expenses incurred prior to the effectiveness of such resignation or removal.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 5.10&#160;&#160;<u>Restricted Securities Owners/Ownership Restrictions</u>.&#160;&#160;From time to time or upon request of the Depositary, 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 and the Company shall update such list on a regular basis. The Depositary may rely on such list or
      update but shall not be liable for any action or omission made in reliance thereon. The Company agrees to advise in writing each of the persons or entities who, to the knowledge of the Company, holds Restricted Securities that such Restricted
      Securities are ineligible for deposit hereunder and, to the extent practicable, shall require each of such persons to represent in writing that such person will not deposit Restricted Securities hereunder.&#160; Holders and Beneficial Owners shall comply
      with any limitations on ownership of Shares under the Memorandum and Articles of Association or applicable Cayman Islands law as if they held the number of Shares their ADSs represent. The Company shall, in accordance with Article&#160;(24) of the
      Receipt, inform Holders and Beneficial Owners and the Depositary of any other limitations on ownership of Shares that the Holders and Beneficial Owners may be subject to by reason of the number of ADSs held under the Articles of Association or
      applicable Cayman Islands law, as such restrictions may be in force from time to time.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Company may, in its sole discretion, but subject to applicable law, instruct the Depositary to take action with respect to the ownership interest of any Holder or Beneficial
      Owner pursuant to the Memorandum and Articles of Association, including but not limited to, the removal or limitation of voting rights or the mandatory sale or disposition on behalf of a Holder or Beneficial Owner of the Shares represented by the
      ADRs held by such Holder or Beneficial Owner in excess of such limitations, if and to the extent such disposition is permitted by applicable law and the Memorandum and Articles of Association; provided that any such measures are practicable and legal
      and can be undertaken without undue burden or expense, and provided further the Depositary&#8217;s agreement to the foregoing is conditional upon it being advised of any applicable changes in the Memorandum and Articles of Association.&#160; The Depositary
      shall have no liability for any actions taken in accordance with such instructions.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">32</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">ARTICLE VI.<br>
      <br>
      AMENDMENT AND TERMINATION</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 6.1&#160;&#160;<u>Amendment/Supplement</u>.&#160;&#160;Subject to the terms and conditions of this Section&#160;6.1 and applicable law, the Receipts outstanding at any time,
      the provisions of this Deposit Agreement and the form of Receipt attached hereto and to be issued under the terms hereof may at any time and from time to time be amended or supplemented by written agreement between the Company and the Depositary in
      any respect which they may deem necessary or desirable and not materially prejudicial to the Holders without the consent of the Holders or Beneficial Owners. Any amendment or supplement which shall impose or increase any fees or charges (other than
      charges in connection with foreign exchange control regulations, and taxes and/or other governmental charges, delivery and other such expenses payable by Holders or Beneficial Owners), or which shall otherwise materially prejudice any substantial
      existing right of Holders or Beneficial Owners, shall not, however, become effective as to outstanding Receipts until 30&#160;days after notice of such amendment or supplement shall have been given to the Holders of outstanding Receipts. Notice of any
      amendment to the Deposit Agreement or form of Receipts shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid,
      provided, however, that, in each such case, the notice given to the Holders identifies a means for Holders and Beneficial Owners to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission's, the Depositary's or the
      Company's website or upon request from the Depositary).The parties hereto agree that any amendments or supplements which (i)&#160;are reasonably necessary (as agreed by the Company and the Depositary) in order for (a)&#160;the American Depositary Shares to be
      registered on Form F&#8209;6 under the Securities Act or (b)&#160;the American Depositary Shares or the Shares to be traded solely in electronic book&#8209;entry form and (ii)&#160;do not in either such case impose or increase any fees or charges to be borne by Holders,
      shall be deemed not to materially prejudice any substantial rights of Holders or Beneficial Owners. Every Holder and Beneficial Owner at the time any amendment or supplement so becomes effective shall be deemed, by continuing to hold such American
      Depositary Share or Shares, to consent and agree to such amendment or supplement and to be bound by the Deposit Agreement as amended and supplemented thereby. In no event shall any amendment or supplement impair the right of the Holder to surrender
      such Receipt and receive therefor the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. Notwithstanding the foregoing, if any governmental body should adopt new laws, rules or regulations
      which would require amendment or supplement of the Deposit Agreement to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement and the Receipt at any time in accordance with such changed laws, rules
      or regulations.&#160; Such amendment or supplement to the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders or within any other period of time as required for compliance with
      such laws, rules or regulations.</div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 6.2&#160;&#160;<u>Termination</u>.&#160;&#160;The Depositary shall, at any time at the written direction of the Company, terminate this Deposit Agreement by mailing
      notice of such termination to the Holders of all Receipts then outstanding at least 90&#160;days prior to the date fixed in such notice for such termination, provided that, the Depositary shall be reimbursed for any amounts, fees, costs or expenses owed
      to it in accordance with the terms of this Deposit Agreement and in accordance with any other agreements as otherwise agreed in writing between the Company and the Depositary from time to time, prior to such termination shall take effect. If 90&#160;days
      shall have expired after (i)&#160;the Depositary shall have delivered to the Company a written notice of its election to resign, or (ii)&#160;the Company shall have delivered to the Depositary a written notice of the removal of the Depositary, and in either
      case a successor depositary shall not have been appointed and accepted its appointment as provided in Section&#160;5.4 hereof, the Depositary may terminate this Deposit Agreement by mailing notice of such termination to the Holders of all Receipts then
      outstanding at least 30&#160;days prior to the date fixed for such termination. On and after the date of termination of this Deposit Agreement, each Holder will, upon surrender of such Receipt at the Corporate Trust Office of the Depositary, upon the
      payment of the charges of the Depositary for the surrender of Receipts referred to in Section&#160;2.6 hereof and subject to the conditions and restrictions therein set forth, and upon payment of any applicable taxes and/or governmental charges, be
      entitled to Delivery, to him or upon his order, of the amount of Deposited Securities represented by such Receipt. If any Receipts shall remain outstanding after the date of termination of this Deposit Agreement, the Registrar thereafter shall
      discontinue the registration of transfers of Receipts, and the Depositary shall suspend the distribution of dividends to the Holders 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 or other property as provided in this Deposit Agreement, and shall continue to Deliver Deposited Securities, subject to
      the conditions and restrictions set forth in Section&#160;2.6 hereof, together with any dividends or other distributions received with respect thereto and the net proceeds of the sale of any rights or other property, in exchange for Receipts surrendered
      to the Depositary (after deducting, or charging, as the case may be, in each case, the charges of the Depositary for the surrender of a Receipt, any expenses for the account of the Holder in accordance with the terms and conditions of this Deposit
      Agreement and any applicable taxes and/or governmental charges or assessments). At any time after the expiration of six months from the date of termination of this Deposit Agreement, 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, in an unsegregated account, without liability for interest for the pro rata benefit of the Holders of Receipts
      whose Receipts have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations under this Deposit Agreement with respect to the Receipts and the Shares, Deposited Securities and American
      Depositary Shares, except to account for such net proceeds and other cash (after deducting, or charging, as the case may be, in each case, the charges of the Depositary for the surrender of a Receipt, any expenses for the account of the Holder in
      accordance with the terms and conditions of this Deposit Agreement and any applicable taxes and/or governmental charges or assessments). 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 hereunder. The obligations under the terms of the Deposit Agreement and Receipts of Holders and Beneficial Owners of ADSs outstanding as of the effective date of any termination shall
      survive such effective date of termination and shall be discharged only when the applicable ADSs are presented by their Holders to the Depositary for cancellation under the terms of the Deposit Agreement and the Holders have each satisfied any and
      all of their obligations hereunder (including, but not limited to, any payment and/or reimbursement obligations which relate to prior to the effective date of termination but which payment and/or reimbursement is claimed after such effective date of
      termination).</div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything contained in the Deposit Agreement or any ADR, in connection with the termination of the Deposit Agreement, the Depositary may, independently and without
      the need for any action by the Company, make available to Holders of ADSs a means to withdraw the Deposited Securities represented by their ADSs and to direct the deposit of such Deposited Securities into an unsponsored American depositary shares
      program established by the Depositary, upon such terms and conditions as the Depositary may deem reasonably appropriate, subject however, in each case, to satisfaction of the applicable registration requirements by the unsponsored American depositary
      shares program under the Securities Act, and to receipt by the Depositary of payment of the applicable fees and charges of, and reimbursement of the applicable expenses incurred by, the Depositary.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">ARTICLE VII.<br>
      <br>
      MISCELLANEOUS</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.1&#160;&#160;<u>Counterparts</u>.&#160;&#160;This Deposit Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of
      such counterparts together shall constitute one and the same agreement. Copies of this Deposit Agreement shall be maintained with the Depositary and shall be open to inspection by any Holder during business hours.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.2&#160;&#160;<u>No Third&#8209;Party Beneficiaries</u>.&#160;&#160;This Deposit Agreement is for the exclusive benefit of the parties hereto (and their successors) and shall
      not be deemed to give any legal or equitable right, remedy or claim whatsoever to any other person, except to the extent specifically set forth in this Deposit Agreement.&#160; Nothing in this Deposit Agreement shall be deemed to give rise to a
      partnership or joint venture among the parties hereto nor establish a fiduciary or similar relationship among the parties.&#160; The parties hereto acknowledge and agree that (i)&#160;the Depositary and its Affiliates may at any time have multiple banking
      relationships with the Company and its Affiliates, (ii)&#160;the Depositary and its Affiliates may be engaged at any time in transactions in which parties adverse to the Company or the Holders or Beneficial Owners may have interests and (iii)&#160;nothing
      contained in this Agreement shall (a)&#160;preclude the Depositary or any of its Affiliates from engaging in such transactions or establishing or maintaining such relationships, or (b)&#160;obligate the Depositary or any of its Affiliates to disclose such
      transactions or relationships or to account for any profit made or payment received in such transactions or relationships.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.3&#160;&#160;<u>Severability</u>.&#160;&#160;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.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.4&#160;&#160;<u>Holders and Beneficial Owners as Parties; Binding Effect</u>.&#160;&#160;The Holders and Beneficial Owners from time to time of American Depositary
      Shares shall be parties to the Deposit Agreement and shall be bound by all of the terms and conditions hereof and of any Receipt by acceptance hereof or any beneficial interest therein.</div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">SECTION 7.5&#160;&#160;<u>Notices</u>.&#160;&#160;Any and all notices to be given to the Company shall be deemed to have been duly given if personally delivered or sent by first-class mail, air courier
      or cable, telex, facsimile transmission or electronic transmission, confirmed by letter, addressed to Hywin Holdings Ltd, F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong, New District, Shanghai City, People&#8217;s Republic of China, 200120,
      Attention: Mr. Zhou Huichuan or to any other address which the Company may specify in writing to the Depositary or at which it may be effectively given such notice in accordance with applicable law.</div>
    <div><br>
    </div>
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    <div style="text-align: justify; font-size: 12pt;">Any and all notices to be given to the Depositary shall be deemed to have been duly given if personally delivered or sent by first-class mail, air courier or cable, telex, facsimile transmission or by
      electronic transmission (if agreed by the Company and the Depositary), at the Company&#8217;s expense, unless otherwise agreed in writing between the Company and the Depositary, confirmed by letter, addressed to Deutsche Bank Trust Company Americas, 60
      Wall Street, New York, New York 10005, USA, Attention: ADR Department, telephone:&#160; +1 212 250&#8209;9100, facsimile:&#160; + 1 212 797 0327 or to any other address which the Depositary may specify in writing to the Company.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-size: 12pt;">Any and all notices to be given to any Holder shall be deemed to have been duly given if personally delivered or sent by first-class mail or cable, telex, facsimile transmission or by electronic
      transmission (if agreed by the Company and the Depositary), at the Company&#8217;s expense, unless otherwise agreed in writing between the Company and the Depositary, addressed to such Holder at the address of such Holder as it appears on the transfer
      books for Receipts of the Depositary, or, if such Holder shall have filed with the Depositary a written request that notices intended for such Holder be mailed to some other address, at the address specified in such request. Notice to Holders shall
      be deemed to be notice to Beneficial Owners for all purposes of this Deposit Agreement.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Delivery of a notice sent by mail, air courier or cable, telex, facsimile or electronic transmission shall be deemed to be effective at the time when a duly addressed letter
      containing the same (or a confirmation thereof in the case of a cable, telex, facsimile or electronic transmission) is deposited, postage prepaid, in a post&#8209;office letter box or delivered to an air courier service. The Depositary or the Company may,
      however, act upon any cable, telex, facsimile or electronic transmission received by it from the other or from any Holder, notwithstanding that such cable, telex, facsimile or electronic transmission shall not subsequently be confirmed by letter as
      aforesaid, as the case may be.</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; text-indent: 36pt;">SECTION 7.6&#160;&#160;<u>Governing Law and Jurisdiction</u>.&#160;&#160;This Deposit Agreement and the Receipts shall be interpreted in accordance with, and
      all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, the laws of the State of New York without reference to the principles of choice of law thereof.&#160;&#160; Subject to the Depositary's rights under the third paragraph
      of this Section 7.6, the Company and the Depositary agree that the federal or state courts in the City of New York shall have exclusive jurisdiction to hear and determine any suit, action or proceeding and to settle any dispute between them that may
      arise out of or in connection with this Deposit Agreement and, for such purposes, each irrevocably submits to the exclusive jurisdiction of such courts. Notwithstanding the above, the parties hereto agree that any judgment and/or order from any such
      New York court can be enforced in any court having jurisdiction thereof.&#160; The Company hereby irrevocably designates, appoints and empowers Cogency Global Inc., (the &#8220;<font style="font-weight: bold;">Process Agent</font>&#8221;), now at 122 East 42<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>
      Street, 18<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor, New York, N.Y. 10168, as its authorized agent to receive and accept for and on its behalf, and on behalf of its properties, assets and revenues, service by mail of any and all legal process, summons, notices and
      documents that may be served in any suit, action or proceeding brought against the Company in any federal or state court as described in the preceding sentence or in the next paragraph of this Section 7.6. If for any reason the Process Agent shall
      cease to be available to act as such, the Company agrees to designate a new agent in the City of New York on the terms and for the purposes of this Section 7.6 reasonably satisfactory to the Depositary. The Company further hereby irrevocably consents
      and agrees to the service of any and all legal process, summons, notices and documents in any suit, action or proceeding against the Company, by service by mail of a copy thereof upon the Process Agent (whether or not the appointment of such Process
      Agent shall for any reason prove to be ineffective or such Process Agent shall fail to accept or acknowledge such service), with a copy mailed to the Company by registered or certified air mail, postage prepaid, to its address provided in Section 7.5
      hereof. The Company agrees that the failure of the Process Agent to give any notice of such service to it shall not impair or affect in any way the validity of such service or any judgment rendered in any action or proceeding based thereon.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of venue of any actions,
      suits or proceedings brought in any court as provided in this Section 7.6, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court
      has been brought in an inconvenient forum.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">The Company, the Depositary and by holding an American Depositary Share (or interest therein) Holders and Beneficial Owners each agree that, notwithstanding the foregoing, with
      regard to any claim or dispute or difference of whatever nature between or involving the parties hereto arising directly or indirectly from the relationship created by this Deposit Agreement, the Depositary, in its sole discretion, shall be entitled
      to refer such dispute or difference for final settlement by arbitration (&#8220;<font style="font-weight: bold;">Arbitration</font>&#8221;) in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the &#8220;<font style="font-weight: bold;">Rules</font>&#8221;) then in force.&#160; The arbitration shall be conducted by three arbitrators, one nominated by the Depositary, one nominated by the Company, and one nominated by the two party-appointed arbitrators within 30
      calendar days of the confirmation of the nomination of the second arbitrator.&#160; If any arbitrator has not been nominated within the time limits specified herein and in the Rules, then such arbitrator shall be appointed by the American Arbitration
      Association in accordance with the Rules.&#160; Judgment upon the award rendered by the arbitrators may be enforced in any court having jurisdiction thereof.&#160; The seat and place of any reference to arbitration shall be New York City, New York, and the
      procedural law of such arbitration shall be New York law.&#160; The language to be used in the arbitration shall be English.&#160;The fees of the arbitrator and other costs incurred by the parties in connection with such Arbitration shall be paid by the party
      or parties that is (are) unsuccessful in such Arbitration. For the avoidance of doubt this paragraph does not preclude Holders and Beneficial Owners from pursuing claims under the Securities Act or the Exchange Act in federal courts.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">Holders and Beneficial Owners understand, and holding an American Depositary Share or an interest therein, such Holders and Beneficial Owners each irrevocably agree that any legal
      suit, action or proceeding against or involving the Company or the Depositary, arising out of or based upon the Deposit Agreement, the American Depositary Shares or Receipts, or the transactions contemplated hereby or thereby or by virtue of
      ownership thereof, may only be instituted in a state or federal court in New York, New York, and by holding an American Depositary Share or an interest therein each irrevocably waives any objection which it may now or hereafter have to the laying of
      venue of any such proceeding, and irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.&#160; Holders and Beneficial Owners agree that the provisions of this paragraph shall survive such Holders&#8217; and
      Beneficial Owners&#8217; ownership of American Depositary Shares or interests therein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS IN ANY ADRs) HEREBY IRREVOCABLY WAIVES, TO THE
      FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED
      SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;"> <br>
    </div>
    <div><font style="font-size: 12pt;">The provisions of this Section&#160;7.6 shall survive any termination of this Deposit Agreement, in whole or in part.</font> </div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.7&#160;&#160;<u>Assignment</u>.&#160;&#160;Subject to the provisions and exceptions set forth in Section&#160;5.4 hereof, this Deposit Agreement may not be assigned by
      either the Company or the Depositary.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.8<u>&#160;&#160;Agents</u>.&#160;&#160;The Depositary shall be entitled, in its sole but reasonable discretion, to appoint one or more agents (the &#8220;<font style="font-weight: bold;">Agents</font>&#8221;) of which it shall have control for the purpose, <font style="font-style: italic;">inter alia</font>, of making distributions to the Holders or otherwise carrying out its obligations under this Agreement.</div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.9&#160;&#160;<u>Affiliates etc</u>.&#160; The Depositary reserves the right to utilize and retain a division or Affiliate(s) of the Depositary to direct, manage
      and/or execute any public and/or private sale of Shares, rights, securities, property or other entitlements hereunder and to engage in the conversion of Foreign Currency hereunder.&#160; It is anticipated that such division and/or Affiliate(s) will charge
      the Depositary a fee and/or commission in connection with each such transaction, and seek reimbursement of its costs and expenses related thereto.&#160; Such fees/commissions, costs and expenses, shall be deducted from amounts distributed hereunder and
      shall not be deemed to be fees of the Depositary under Article (9) of the Receipt or otherwise.&#160; Persons are advised that in converting foreign currency into U.S. dollars the Depositary may utilize Deutsche Bank AG or its affiliates (collectively, &#8220;<font style="font-weight: bold;">DBAG</font>&#8221;) to effect such conversion by seeking to enter into a foreign exchange (&#8220;<font style="font-weight: bold;">FX</font>&#8221;) transaction with DBAG.&#160; When converting currency, the Depositary is not acting as a
      fiduciary for the holders or beneficial owners of depositary receipts or any other person.&#160; Moreover, in executing FX transactions, DBAG will be acting in a principal capacity, and not as agent, fiduciary or broker, and may hold positions for its own
      account that are the same, similar, different or opposite to the positions of its customers, including the Depositary.&#160; When the Depositary seeks to execute an FX transaction to accomplish such conversion, customers should be aware that DBAG is a
      global dealer in FX for a full range of FX products and, as a result, the rate obtained in connection with any requested foreign currency conversion may be impacted by DBAG executing FX transactions for its own account or with another customer.&#160; In
      addition, in order to source liquidity for any FX transaction relating to any foreign currency conversion, DBAG may internally share economic terms relating to the relevant FX transaction with persons acting in a sales or trading capacity for DBAG or
      one of its agents.&#160; DBAG may charge fees and/or commissions to the Depositary or add a mark-up in connection with such conversions, which are reflected in the rate at which the foreign currency will be converted into U.S. dollars. The Depositary, its
      Affiliates and their agents, on their own behalf, may own and deal in any class of securities of the Company and its Affiliates and in ADSs.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.10&#160;&#160;<u>Exclusivity</u>.&#160;&#160;The Company agrees not to appoint any other depositary for the issuance or administration of depositary receipts evidencing
      any class of stock of the Company so long as Deutsche Bank Trust Company Americas is acting as Depositary hereunder.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.11&#160;&#160;<u>Compliance with U.S. Securities Laws</u>.&#160;&#160;Notwithstanding anything in this Deposit Agreement to the contrary, the withdrawal or Delivery of
      Deposited Securities will not be suspended by the Company or the Depositary except as would be permitted by Instruction I.A.(1) of the General Instructions to Form&#160;F&#8209;6 Registration Statement, as amended from time to time, under the Securities Act.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">SECTION 7.12&#160;&#160;<u>Titles</u>.&#160;&#160;All references in this Deposit Agreement to exhibits, Articles, sections, subsections, and other subdivisions refer to the
      exhibits, Articles, sections, subsections and other subdivisions of this Deposit Agreement unless expressly provided otherwise.&#160; The words &#8220;this Deposit Agreement&#8221;, &#8220;herein&#8221;, &#8220;hereof&#8221;, &#8220;hereby&#8221;, &#8220;hereunder&#8221;, and words of similar import refer to the
      Deposit Agreement as a whole as in effect between the Company, the Depositary and the Holders and Beneficial Owners of ADSs and not to any particular subdivision unless expressly so limited.&#160; Pronouns in masculine, feminine and neuter gender shall be
      construed to include any other gender, and words in the singular form shall be construed to include the plural and vice versa unless the context otherwise requires.&#160; Titles to sections of this Deposit Agreement are included for convenience only and
      shall be disregarded in construing the language contained in this Deposit Agreement. </div>
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    </div>
    <div style="text-align: justify; text-indent: 35.45pt; margin-bottom: 12pt; font-size: 12pt;">IN WITNESS WHEREOF, HYWIN HOLDINGS LTD. and DEUTSCHE BANK TRUST COMPANY AMERICAS have duly executed this Deposit Agreement as of the day and year first above
      set forth and all Holders and Beneficial Owners shall become parties hereto upon acceptance by them of American Depositary Shares evidenced by Receipts issued in accordance with the terms hereof.</div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zfaf1cec8199845cf9f8d6d0d4f72e7ba" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 41%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="3">
              <div style="font-size: 12pt; font-weight: bold;">HYWIN HOLDINGS LTD.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 41%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="3">&#160;</td>
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            <td style="width: 41%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="3">&#160;</td>
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              <div style="font-size: 12pt;">By:</div>
            </td>
            <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 41%; vertical-align: top;">&#160;</td>
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    <div style="margin-bottom: 9pt;"><br>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">39</font></div>
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    <div style="text-align: right; margin-bottom: 9pt; font-weight: bold;">EXHIBIT A</div>
    <div style="text-align: right; margin-left: 324pt; margin-bottom: 12pt; font-size: 12pt;">CUSIP________</div>
    <div style="text-align: right; margin-bottom: 12pt; font-size: 12pt;">ISIN________</div>
    <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;"> <br>
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    <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">
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            <td style="width: 67.01%; vertical-align: top;">&#160;</td>
            <td style="width: 12%; vertical-align: top;">
              <div style="text-align: center; font-size: 12pt;">American Depositary Shares (Each</div>
              <div style="text-align: center; font-size: 12pt;">American Depositary<br>
                Share</div>
              <div style="text-align: center; font-size: 12pt;">representing two</div>
              <div style="text-align: center; font-size: 12pt;">Fully Paid Ordinary</div>
              <div style="text-align: center; font-size: 12pt;">Shares)</div>
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    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">[FORM OF FACE OF RECEIPT]</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">AMERICAN DEPOSITARY RECEIPT</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">for</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">AMERICAN DEPOSITARY SHARES</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">representing</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">DEPOSITED ORDINARY SHARES</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">of</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">HYWIN HOLDINGS LTD.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">&#160;(Incorporated under the laws of the Cayman Islands)</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">DEUTSCHE BANK TRUST COMPANY AMERICAS, as depositary (herein called the &#8220;<font style="font-weight: bold;">Depositary</font>&#8221;), hereby certifies that ________________ is the owner of
      ______________ American Depositary Shares (hereinafter &#8220;<font style="font-weight: bold;">ADS</font>&#8221;), representing deposited ordinary shares, each of Par Value of U.S. $0.0001 including evidence of rights to receive such ordinary shares (the &#8220;<font style="font-weight: bold;">Shares</font>&#8221;) of<font style="font-weight: bold;">&#160;</font>Hywin Holdings Ltd., a company incorporated under the laws of the Cayman Islands (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;). As of the date of the
      Deposit Agreement (hereinafter referred to), each ADS represents two Shares deposited under the Deposit Agreement with the Custodian which at the date of execution of the Deposit Agreement is Deutsche Bank AG, Hong Kong Branch (the &#8220;<font style="font-weight: bold;">Custodian</font>&#8221;). The ratio of Depositary Shares to shares of stock is subject to subsequent amendment as provided in Article IV of the Deposit Agreement.&#160; The Depositary&#8217;s Corporate Trust Office is located at 60 Wall
      Street, New York, New York 10005, U.S.A.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">40</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(1)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>The Deposit Agreement</u>.&#160; This American Depositary Receipt is one of an issue of American Depositary Receipts
        (&#8220;<font style="font-weight: bold;">Receipts</font>&#8221;), all issued or to be issued upon the terms and conditions set forth in the Deposit Agreement, dated as of [&#9679;], 2021 (as amended from time to time, the &#8220;<font style="font-weight: bold;">Deposit
          Agreement</font>&#8221;), by and among the Company, the Depositary, and all Holders and Beneficial Owners from time to time of Receipts issued thereunder, each of whom by accepting a Receipt agrees to become a party thereto and becomes bound by all the
        terms and conditions thereof. The Deposit Agreement sets forth the rights and obligations of Holders and Beneficial Owners of Receipts 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, other securities, property and cash are herein called &#8220;<font style="font-weight: bold;">Deposited Securities</font>&#8221;). Copies of
        the Deposit Agreement are on file at the Corporate Trust Office of the Depositary and the Custodian.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Each owner and each Beneficial Owner, upon acceptance of any ADSs (or any interest therein) issued in accordance with the terms and conditions of the Deposit Agreement, shall be
      deemed for all purposes to (a)&#160;be a party to and bound by the terms of the Deposit Agreement and applicable ADR(s), and (b)&#160;appoint the Depositary its attorney&#8209;in&#8209;fact, with full power to delegate, to act on its behalf and to take any and all actions
      contemplated in the Deposit Agreement and the applicable ADR(s), to adopt any and all procedures necessary to comply with applicable law and to take such action as the Depositary in its sole discretion may deem necessary or appropriate to carry out
      the purposes of the Deposit Agreement and the applicable ADR(s) (the taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof).</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The statements made on the face and reverse of this Receipt are summaries of certain provisions of the Deposit Agreement and the Memorandum and Articles of Association (as in
      effect on the date of the Deposit Agreement) and are qualified by and subject to the detailed provisions of the Deposit Agreement, to which reference is hereby made. All capitalized terms used herein which are not otherwise defined herein shall have
      the meanings ascribed thereto in the Deposit Agreement. To the extent there is any inconsistency between the terms of this Receipt and the terms of the Deposit Agreement, the terms of the Deposit Agreement shall prevail. Prospective and actual
      Holders and Beneficial Owners are encouraged to read the terms of the Deposit Agreement. The Depositary makes no representation or warranty as to the validity or worth of the Deposited Securities.&#160; The Depositary has made arrangements for the
      acceptance of the American Depositary Shares into DTC.&#160; Each Beneficial Owner of American Depositary Shares held through DTC must rely on the procedures of DTC and the DTC Participants to exercise and be entitled to any rights attributable to such
      American Depositary Shares.&#160; The Receipt evidencing the American Depositary Shares held through DTC will be registered in the name of a nominee of DTC.&#160; So long as the American Depositary Shares are held through DTC or unless otherwise required by
      law, ownership of beneficial interests in the Receipt registered in the name of DTC (or its nominee) will be shown on, and transfers of such ownership will be effected only through, records maintained by (i)&#160;DTC (or its nominee), or (ii)&#160;DTC
      Participants (or their nominees).</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">41</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(2)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Surrender of Receipts and Withdrawal of Deposited Securities</u>.&#160; Upon surrender, at the Corporate Trust Office
        of the Depositary, of ADSs evidenced by this Receipt for the purpose of withdrawal of the Deposited Securities represented thereby, and upon payment of (i)&#160;the fees and charges of the Depositary for the making of withdrawals of Deposited Securities
        and cancellation of Receipts (as set forth in Section&#160;5.9 of the Deposit Agreement and Article&#160;(9) hereof) and (ii)&#160;all fees, taxes and/or governmental charges payable in connection with such surrender and withdrawal, and, subject to the terms and
        conditions of the Deposit Agreement, the Memorandum and Articles of Association, Section&#160;7.11 of the Deposit Agreement, Article&#160;(22) hereof and the provisions of or governing the Deposited Securities and other applicable laws, the Holder of the
        American Depositary Shares evidenced hereby is entitled to Delivery, to him or upon his order, of the Deposited Securities represented by the ADS so surrendered.&#160; ADS may be surrendered for the purpose of withdrawing Deposited Securities by
        Delivery of a Receipt evidencing such ADS (if held in registered form) or by book&#8209;entry delivery of such ADS to the Depositary.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">A Receipt surrendered for such purposes shall, if so required by the Depositary, be properly endorsed in blank or accompanied by proper instruments of transfer in blank, and if the
      Depositary so requires, the Holder thereof shall 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 persons
      designated in such order. Thereupon, the Depositary shall direct the Custodian to Deliver (without unreasonable delay) at the designated office of the Custodian or through a book-entry delivery of the Shares (in either case subject to the terms and
      conditions of the Deposit Agreement, to the Memorandum and Articles of Association, and to the provisions of or governing the Deposited Securities and applicable laws, now or hereafter in effect), to or upon the written order of the person or persons
      designated in the order delivered to the Depositary as provided above, the Deposited Securities represented by such ADSs, together with any certificate or other proper documents of or relating to title for the Deposited Securities or evidence of the
      electronic transfer thereof (if available) as the case may be to or for the account of such person.&#160; Subject to Article (4) hereof, in the case of surrender of a Receipt evidencing a number of ADSs representing other than a whole number of Shares,
      the Depositary shall cause ownership of the appropriate whole number of Shares to be Delivered in accordance with the terms hereof, and shall, at the discretion of the Depositary, either (i)&#160;issue and Deliver to the person surrendering such Receipt a
      new Receipt evidencing American Depositary Shares representing any remaining fractional Share, or (ii)&#160;sell or cause to be sold the fractional Shares represented by the Receipt so surrendered and remit the proceeds thereof (net of (a)&#160;applicable fees
      and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and (b)&#160;taxes and/or governmental charges) to the person surrendering the Receipt.&#160; At the request, risk and expense of any Holder so
      surrendering a Receipt, and for the account of such Holder, the Depositary shall direct the Custodian to forward (to the extent permitted by law) any cash or other property (other than securities) held in respect of, and any certificate or
      certificates and other proper documents of or relating to title to, the Deposited Securities represented by such Receipt to the Depositary for Delivery at the Corporate Trust Office of the Depositary, and for further Delivery to such Holder.&#160; Such
      direction shall be given by letter or, at the request, risk and expense of such Holder, by cable, telex or facsimile transmission. Upon receipt of such direction by the Depositary, the Depositary may make delivery to such person or persons entitled
      thereto at the Corporate Trust Office of the Depositary of any dividends or cash distributions with respect to the Deposited Securities represented by such Receipt, or of any proceeds of sale of any dividends, distributions or rights, which may at
      the time be held by the Depositary.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">42</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(3)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Transfers, Split&#8209;Ups and Combinations of Receipts</u>.&#160; Subject to the terms and conditions of the Deposit
        Agreement, the Registrar shall register transfers of Receipts on its books, upon surrender at the Corporate Trust Office of the Depositary of a Receipt by the Holder thereof in person or by duly authorized attorney, properly endorsed in the case of
        a certificated Receipt or accompanied by, or in the case of Receipts issued through any book-entry system, including, without limitation, DRS/Profile, receipt by the Depositary of proper instruments of transfer (including signature guarantees in
        accordance with standard industry practice) and duly stamped as may be required by the laws of the State of New York, of the United States, of the Cayman Islands and of any other applicable jurisdiction.&#160; Subject to the terms and conditions of the
        Deposit Agreement, including payment of the applicable fees and expenses incurred by, and charges of, the Depositary, the Depositary shall execute and Deliver a new Receipt(s) (and if necessary, cause the Registrar to countersign such Receipt(s))
        and deliver same to or upon the order of the person entitled to such Receipts evidencing the same aggregate number of ADSs as those evidenced by the Receipts surrendered. Upon surrender of a Receipt or Receipts for the purpose of effecting a
        split&#8209;up or combination of such Receipt or Receipts upon payment of the applicable fees and charges of the Depositary, and subject to the terms and conditions of the Deposit Agreement, the Depositary shall execute and deliver a new Receipt or
        Receipts for any authorized number of ADSs requested, evidencing the same aggregate number of ADSs as the Receipt or Receipts surrendered.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(4)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Pre&#8209;Conditions to Registration, Transfer, Etc</u>.&#160; As a condition precedent to the execution and Delivery,
        registration, registration of transfer, split&#8209;up, subdivision, combination or surrender of any Receipt, the delivery of any distribution thereon (whether in cash or shares) or withdrawal of any Deposited Securities, the Depositary or the Custodian
        may require (i)&#160;payment from the depositor of Shares or presenter of the Receipt of a sum sufficient to reimburse it for any tax 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 and charges of the Depositary as provided in the Deposit Agreement and in this Receipt, (ii)&#160;the production of proof satisfactory to it as to the
        identity and genuineness of any signature or any other matter and (iii)&#160;compliance with (A)&#160;any laws or governmental regulations relating to the execution and Delivery of Receipts and ADSs or to the withdrawal of Deposited Securities and (B)&#160;such
        reasonable regulations of the Depositary or the Company consistent with the Deposit Agreement and applicable law.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The issuance of ADSs against deposits of Shares generally or against deposits of particular Shares may be suspended, or the issuance of ADSs against the deposit of particular
      Shares may be withheld, or the registration of transfer of Receipts in particular instances may be refused, or the registration of transfer of Receipts generally may be suspended, during any period when the transfer books of the Depositary are closed
      or if any such action is deemed necessary or advisable by the Depositary or the Company, in good faith, at any time or from time to time because of any requirement of law, any government or governmental body or commission or any securities exchange
      upon which the Receipts or Share are listed, or under any provision of the Deposit Agreement or provisions of, or governing, the Deposited Securities or any meeting of shareholders of the Company or for any other reason, subject in all cases to
      Article&#160;(22) hereof.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary shall not issue ADSs prior to the receipt of Shares or deliver Shares prior to the receipt and cancellation of ADSs.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">43</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(5)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Compliance With Information Requests</u>.&#160; Notwithstanding any other provision of the Deposit Agreement or this
        Receipt, each Holder and Beneficial Owner of the ADSs represented hereby agrees to comply with requests from the Company pursuant to the laws of the Cayman Islands, the rules and requirements of the NASDAQ Global Market Stock Exchange and any other
        stock exchange on which the Shares are, or will be registered, traded or listed, the Memorandum and Articles of Association, which are made to provide information as to the capacity in which such Holder or Beneficial Owner owns ADSs and regarding
        the identity of any other person interested in such ADSs and the nature of such interest and various other matters whether or not they are Holders and/or Beneficial Owner at the time of such request. The Depositary agrees to use reasonable efforts
        to forward any such requests to the Holders and to forward to the Company any such responses to such requests received by the Depositary.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(6)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Liability of Holder for Taxes, Duties and Other Charges</u>.&#160; If any tax or other governmental charge shall
        become payable by the Depositary or the Custodian with respect to any Receipt or any Deposited Securities or ADSs, such tax or other governmental charge shall be payable by the Holders and Beneficial Owners to the Depositary. The Company, the
        Custodian and/or the Depositary may withhold or deduct from any distributions made in respect of Deposited Securities and may sell for the account of the Holder and/or Beneficial Owner any or all of the Deposited Securities and apply such
        distributions and sale proceeds in payment of such taxes (including applicable interest and penalties) or charges, with the Holder and the Beneficial Owner hereof remaining fully liable for any deficiency.&#160; The Custodian may refuse the deposit of
        Shares, and the Depositary may refuse to issue ADSs, to deliver Receipts, register the transfer, split&#8209;up or combination of ADRs and (subject to Article&#160;(22) hereof) the withdrawal of Deposited Securities, until payment in full of such tax, charge,
        penalty or interest is received.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The liability of Holders and Beneficial Owners under the Deposit Agreement shall survive any transfer of Receipts, any surrender of Receipts and withdrawal of Deposited Securities
      or the termination of the Deposit Agreement.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Holders understand that in converting Foreign Currency, amounts received on conversion are calculated at a rate which may exceed the number of decimal places used by the Depositary
      to report distribution rates (which in any case will not be less than two decimal places).&#160; Any excess amount may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses payable or owing
      hereunder and shall not be subject to escheatment.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(7)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Representations and Warranties of Depositors</u>.&#160; Each person depositing Shares under the Deposit Agreement
        shall be deemed thereby to represent and warrant that (i)&#160;such Shares (and the certificates therefor) are duly authorized, validly issued, fully paid, non&#8209;assessable and were legally obtained by such person, (ii)&#160;all preemptive (and similar)
        rights, if any, with respect to such Shares, have been validly waived or exercised, (iii)&#160;the person making such deposit is duly authorized so to do, (iv)&#160;the Shares presented for deposit are free and clear of any lien, encumbrance, security
        interest, charge, mortgage or adverse claim, and are not, and the ADSs issuable upon such deposit will not be, Restricted Securities, (v)&#160;the Shares presented for deposit have not been stripped of any rights or entitlements and (vi)&#160;the Shares are
        not subject to any lock&#8209;up agreement with the Company or other party, or the Shares are subject to a lock-up agreement but such lock-up agreement has terminated or the lock-up restrictions imposed thereunder have expired or been validly waived.&#160;
        Such representations and warranties shall survive the deposit and withdrawal of Shares and the issuance, cancellation and transfer of ADSs.&#160; If any such representations or warranties are false in any way, the Company and Depositary shall be
        authorized, at the cost and expense of the person depositing Shares, to take any and all actions necessary to correct the consequences thereof.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">44</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(8)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Filing Proofs, Certificates and Other Information</u>.&#160; Any person presenting Shares for deposit shall provide,
        any Holder and any Beneficial Owner may be required to provide, and every Holder and Beneficial Owner agrees, from time to time to provide to the Depositary such proof of citizenship or residence, taxpayer status, payment of all applicable taxes
        and/or other governmental charges, exchange control approval, legal or beneficial ownership of ADSs and Deposited Securities, compliance with applicable laws and the terms of the Deposit Agreement and the provisions of, or governing, the Deposited
        Securities or other information as the Depositary deems necessary or proper or as the Company may reasonably require by written request to the Depositary consistent with its obligations under the Deposit Agreement. Pursuant to the Deposit
        Agreement, the Depositary and the Registrar, as applicable, may withhold the execution or Delivery or registration of transfer of any Receipt or the distribution or sale of any dividend or other distribution of rights or of the proceeds thereof, or
        to the extent not limited by the terms of Article (22) hereof or the terms of the Deposit Agreement, the Delivery of any Deposited Securities until such proof or other information is filed or such certifications are executed, or such
        representations and warranties are made, or such other documentation or information provided, in each case to the Depositary&#8217;s and the Company&#8217;s satisfaction. The Depositary shall from time to time on the written request of the Company advise the
        Company of the availability of any such proofs, certificates or other information and shall, at the Company&#8217;s sole expense, provide or otherwise make available copies thereof to the Company upon written request therefor by the Company, unless such
        disclosure is prohibited by law. Each Holder and Beneficial Owner agrees to provide any information requested by the Company or the Depositary pursuant to this paragraph. Nothing herein shall obligate the Depositary to (i) obtain any information
        for the Company if not provided by the Holders or Beneficial Owners or (ii) verify or vouch for the accuracy of the information so provided by the Holders or Beneficial Owners.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Every Holder and Beneficial Owner agrees to indemnify the Depositary, the Company, the Custodian, the Agents and each of their respective directors, officers, employees, agents and
      Affiliates against, and to hold each of them harmless from, any Losses which any of them may incur or which may be made against any of them as a result of or in connection with any inaccuracy in or omission from any such proof, certificate,
      representation, warranty, information or document furnished by or on behalf of such Holder and/or Beneficial Owner or as a result of any such failure to furnish any of the foregoing.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The obligations of Holders and Beneficial Owners under the Deposit Agreement shall survive any transfer of Receipts, any surrender of Receipts and withdrawal of Deposited
      Securities or the termination of this Deposit Agreement.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(9)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Charges of Depositary</u>.&#160; The Depositary reserves the right to charge the following fees for the services
        performed under the terms of the Deposit Agreement, provided, however, that no fees shall be payable upon distribution of cash dividends so long as the charging of such fee is prohibited by the exchange, if any, upon which the ADSs are listed:</font></div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zcd079d30a262462594382bd752587c35">

        <tr>
          <td style="width: 6%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;">(i)</font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">to
                  any person to whom ADSs are issued or to any person to whom a distribution is made in respect of ADS distributions pursuant to stock dividends or other free distributions of stock, bonus distributions, stock splits or other distributions
                  (except where converted to cash), a fee not in excess of U.S. $ 5.00 per 100 ADSs (or fraction thereof) so issued under the terms of the Deposit Agreement to be determined by the Depositary;</font></font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">45</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zfbc4c7e85ece443e8e89126fdb6f1325">

        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(ii)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">to any person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for any other reason including, inter alia, cash distributions made pursuant to a cancellation or
                  withdrawal, a fee not in excess of U.S. $ 5.00 per 100 ADSs reduced, cancelled or surrendered (as the case may be);</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(iii)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">to any holder of ADSs (including, without limitation, Holders), a fee not in excess of U.S. $ 5.00 per 100 ADSs&#160; held for the distribution of cash dividends;</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(iv)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">to any holder of ADSs (including, without limitation, Holders), a fee not in excess of U.S. $ 5.00 per 100 ADSs&#160; held for the distribution of cash entitlements (other than cash dividends) and/or cash proceeds,
                  including proceeds from the sale of rights, securities and other entitlements;</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(v)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">to any holder of ADSs (including, without limitation, Holders), a fee not in excess of U.S. $ 5.00 per 100 ADSs (or portion thereof) issued upon the exercise of rights; and</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(vi)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">for the operation and maintenance costs in administering the ADSs an annual fee of U.S. $ 5.00 per 100 ADSs, such fee to be assessed against Holders of record as of the date or dates set by the Depositary as it sees
                  fit and collected at the sole discretion of the Depositary by billing such Holders for such fee or by deducting such fee from one or more cash dividends or other cash distributions.</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In addition, Holders, Beneficial Owners, any person depositing Shares for deposit and any person surrendering ADSs for cancellation and withdrawal of Deposited Securities will be
      required to pay the following charges:</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zafbfc0028432482fbd35a7c16778ac15">

        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">taxes (including applicable interest
                and penalties) and other governmental charges;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(ii)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">such registration fees as may from time to time be in effect for the registration of Shares or other Deposited Securities with the Foreign Registrar and applicable to transfers of Shares or other Deposited Securities
                  to or from the name of the Custodian, the Depositary or any nominees upon the making of deposits and withdrawals, respectively;</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top; font-weight: normal; font-size: 12pt;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">such cable, telex, facsimile and
                electronic transmission and delivery expenses as are expressly provided in the Deposit Agreement to be at the expense of the depositor depositing or person withdrawing Shares or Holders and Beneficial Owners of ADSs;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top; font-weight: normal; font-size: 12pt;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify; font-weight: normal; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">the expenses and charges incurred by
                the Depositary and/or a division or Affiliate(s) of the Depositary in the conversion of Foreign Currency;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 6%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(v)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">such fees and expenses as are incurred by the Depositary in connection with compliance with exchange control regulations and other regulatory requirements applicable to Shares, Deposited Securities, ADSs and ADRs;</font></font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">46</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4adb2bf96961485da29c3823ca2dc8f2">

        <tr>
          <td style="width: 7.98%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(vi)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">the fees and expenses incurred by the Depositary in connection with the delivery of Deposited Securities, including any fees of a central depository for securities in the local market, where applicable;</font></font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 7.98%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 7.98%; vertical-align: top;">&#160;</td>
          <td style="width: 92.02%; vertical-align: top;">
            <div style="text-align: justify;"><font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(vii)</font><font style="font-weight: normal; font-size: 12pt;">&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">any additional fees, charges, costs or expenses that may be incurred by the Depositary or a division or Affiliate(s) of the Depositary from time to time.</font></font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Any other fees and charges of, and expenses incurred by, the Depositary or the Custodian under the Deposit Agreement shall be for the account of the Company unless otherwise agreed
      in writing between the Company and the Depositary from time to time.&#160; All fees and charges may, at any time and from time to time, be changed by agreement between the Depositary and Company but, in the case of fees and charges payable by Holders or
      Beneficial Owners, only in the manner contemplated by Article&#160;(20) hereof.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary may make payments to the Company and/or may share revenue with the Company derived from fees collected from Holders and Beneficial Owners, upon such terms and
      conditions as the Company and the Depositary may agree from time to time.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(10)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Title to Receipts</u>.&#160; It is a condition of this Receipt, and every successive Holder of this Receipt by
        accepting or holding the same consents and agrees, that title to this Receipt (and to each ADS evidenced hereby) is transferable by delivery of the Receipt, provided it has been properly endorsed or accompanied by proper instruments of transfer,
        such Receipt being a certificated security under the laws of the State of New York.&#160; Notwithstanding any notice to the contrary, the Depositary may deem and treat the Holder of this Receipt (that is, the person in whose name this Receipt is
        registered on the books of the Depositary) as the absolute owner hereof for all purposes.&#160; The Depositary shall have no obligation or be subject to any liability under the Deposit Agreement or this Receipt to any holder of this Receipt or any
        Beneficial Owner unless such holder is the Holder of this Receipt registered on the books of the Depositary or, in the case of a Beneficial Owner, such Beneficial Owner or the Beneficial Owner&#8217;s representative is the Holder registered on the books
        of the Depositary.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(11)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Validity of Receipt</u>.&#160; This Receipt shall not be entitled to any benefits under the Deposit Agreement or be
        valid or enforceable for any purpose, unless this Receipt has been (i)&#160;dated, (ii)&#160;signed by the manual or facsimile signature of a duly authorized signatory of the Depositary, (iii)&#160;if a Registrar for the Receipts shall have been appointed,
        countersigned by the manual or facsimile signature of a duly authorized signatory of the Registrar and (iv)&#160;registered in the books maintained by the Depositary or the Registrar, as applicable, for the issuance and transfer of Receipts.&#160; Receipts
        bearing the facsimile signature of a duly&#8209;authorized signatory of the Depositary or the Registrar, who at the time of signature was a duly&#8209;authorized signatory of the Depositary or the Registrar, as the case may be, shall bind the Depositary,
        notwithstanding the fact that such signatory has ceased to be so authorized prior to the execution and delivery of such Receipt by the Depositary or did not hold such office on the date of issuance of such Receipts.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">47</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(12)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Available Information; Reports; Inspection of Transfer Books</u>.&#160; The Company is subject to the periodic
        reporting requirements of the Exchange Act applicable to foreign private issuers (as defined in Rule 405 of the Securities Act) and accordingly files certain information with the Commission.&#160; These reports and documents can be inspected and copied
        at the public reference facilities maintained by the Commission located at 100&#160;F Street, N.E., Washington D.C.&#160;20549, U.S.A.<font style="font-weight: bold;">&#160; </font>The Depositary shall make available during normal business hours on any Business
        Day for inspection by Holders at its Corporate Trust Office any reports and communications, including any proxy soliciting materials, received from the Company which are both (a)&#160;received by the Depositary, the Custodian, or the nominee of either
        of them as the holder of the Deposited Securities and (b) made generally available to the holders of such Deposited Securities by the Company.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary or the Registrar, as applicable, shall keep books for the registration of Receipts and transfers of Receipts which at all reasonable times shall be open for
      inspection by the Company and by the Holders of such Receipts, provided that such inspection shall not be, to the Depositary&#8217;s or the Registrar&#8217;s knowledge, for the purpose of communicating with Holders of such Receipts in the interest of a business
      or object other than the business of the Company or other than a matter related to the Deposit Agreement or the Receipts.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The Depositary or the Registrar, as applicable, may close the transfer books with respect to the Receipts, at any time or from time to time, when deemed necessary or advisable by
      it in good faith in connection with the performance of its duties hereunder, or at the reasonable written request of the Company subject, in all cases, to Article&#160;(22) hereof.</div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z84afdc2258f84b3293d89e6554bdcd55">

        <tr>
          <td style="width: 40.97%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Dated:</div>
          </td>
          <td colspan="3" style="vertical-align: top;">
            <div style="font-weight: bold;">DEUTSCHE BANK TRUST<br>
              COMPANY AMERICAS, as Depositary</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">By:</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">________________________________</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40.97%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">By:</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">________________________________</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">The address of the Corporate Trust Office of the Depositary is 60&#160;Wall Street, New York, New York&#160;10005, U.S.A.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">48</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    <div style="text-align: right; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">EXHIBIT B</div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">[<font style="font-weight: bold;">FORM OF REVERSE OF RECEIPT]</font><br>
      SUMMARY OF CERTAIN ADDITIONAL PROVISIONS<br>
      OF THE DEPOSIT AGREEMENT</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(13)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Dividends and Distributions in Cash, Shares, etc</u>.&#160; Whenever the Depositary receives confirmation from the
        Custodian of receipt of any cash dividend or other cash distribution on any Deposited Securities, or receives proceeds from the sale of any Shares, rights securities or other entitlements under the Deposit Agreement, the Depositary will, if at the
        time of receipt thereof any amounts received in a Foreign Currency can, in the judgment of the Depositary (upon the terms of the Deposit Agreement), be converted on a practicable basis, into Dollars transferable to the United States, promptly
        convert or cause to be converted such dividend, distribution or proceeds into Dollars and will distribute promptly the amount thus received (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or
        Affiliate(s) of the Depositary and taxes and/or governmental charges) to the Holders of record as of the ADS Record Date in proportion to the number of ADSs representing such Deposited Securities held by such Holders respectively as of the ADS
        Record Date.&#160; The Depositary shall distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent.&#160; Any such fractional amounts shall be rounded down to the nearest whole cent and so distributed
        to Holders entitled thereto.&#160; Holders and Beneficial Owners understand that in converting Foreign Currency, amounts received on conversion are calculated at a rate which exceeds the number of decimal places used by the Depositary to report
        distribution rates. The excess amount may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses payable or owing hereunder and shall not be subject to escheatment. If the Company, the
        Custodian or the Depositary is required to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount
        distributed to Holders on the ADSs representing such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority.&#160; Evidence of
        payment thereof by the Company shall be forwarded by the Company to the Depositary upon request. The Depositary shall 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 with governmental agencies such reports as are necessary to obtain benefits under the applicable tax treaties for the Holders and Beneficial Owners of Receipts.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the Company shall cause such Shares to be deposited with the Custodian
      and registered, as the case may be, in the name of the Depositary, the Custodian or their nominees.&#160; Upon receipt of confirmation of such deposit, the Depositary shall, subject to and in accordance with the Deposit Agreement, establish the ADS Record
      Date and either (i)&#160;distribute to the Holders as of the ADS Record Date in proportion to the number of ADSs held by such Holders as of the ADS Record Date, additional ADSs, which represent in aggregate the number of Shares received as such dividend,
      or free distribution, subject to the terms of the Deposit Agreement (including, without limitation, the applicable fees and charges of, and expenses incurred by, the Depositary, and taxes and/or governmental charges), or (ii)&#160;if additional ADSs are
      not so distributed, each ADS issued and outstanding after the ADS Record Date shall, to the extent permissible by law, thenceforth also represent rights and interests in the additional Shares distributed upon the Deposited Securities represented
      thereby (net of the applicable fees and charges of, and the expenses incurred by, the Depositary, and taxes and/or governmental charges).&#160; In lieu of delivering fractional ADSs, the Depositary shall sell the number of Shares represented by the
      aggregate of such fractions and distribute the proceeds upon the terms set forth in the Deposit Agreement.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">49</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In the event that (x)&#160;the Depositary determines that any distribution in property (including Shares) is subject to any tax or other governmental charges which the Depositary is
      obligated to withhold, or, (y)&#160;if the Company, in the fulfillment of its obligations under the Deposit Agreement, has either (a)&#160;furnished an opinion of U.S.&#160;counsel determining that Shares must be registered under the Securities Act or other laws in
      order to be distributed to Holders (and no such registration statement has been declared effective), or (b)&#160;fails to timely deliver the documentation contemplated in the Deposit Agreement, the Depositary may dispose of all or a portion of such
      property (including Shares and rights to subscribe therefor) in such amounts and in such manner, including by public or private sale, as the Depositary deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such
      sale (after deduction of taxes and/or governmental charges, and fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary) to Holders entitled thereto upon the terms of the Deposit Agreement.
      The Depositary shall hold and/or distribute any unsold balance of such property in accordance with the provisions of the Deposit Agreement.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Upon timely receipt of a notice indicating that the Company wishes an elective distribution to be made available to Holders upon the terms described in the Deposit Agreement, the
      Depositary shall, upon provision of all documentation required under the Deposit Agreement, (including, without limitation, any legal opinions the Depositary may request under the Deposit Agreement) determine whether such distribution is lawful and
      reasonably practicable.&#160; If so, the Depositary shall, subject to the terms and conditions of the Deposit Agreement, establish an ADS Record Date according to Article&#160;(14) hereof and establish procedures to enable the Holder hereof to elect to receive
      the proposed distribution in cash or in additional ADSs.&#160; If a Holder elects to receive the distribution in cash, the dividend shall be distributed as in the case of a distribution in cash.&#160; If the Holder hereof elects to receive the distribution in
      additional ADSs, the distribution shall be distributed as in the case of a distribution in Shares upon the terms described in the Deposit Agreement.&#160; If such elective distribution is not lawful or reasonably practicable or if the Depositary did not
      receive satisfactory documentation set forth in the Deposit Agreement, the Depositary shall, to the extent permitted by law, distribute to Holders, on the basis of the same determination as is made in the Cayman Islands, in respect of the Shares for
      which no election is made, either (x)&#160;cash or (y)&#160;additional ADSs representing such additional Shares, in each case, upon the terms described in the Deposit Agreement.&#160; Nothing herein shall obligate the Depositary to make available to the Holder
      hereof a method to receive the elective dividend in Shares (rather than ADSs).&#160; There can be no assurance that the Holder hereof will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of
      Shares.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">50</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Whenever the Company intends to distribute to the holders of the Deposited Securities rights to subscribe for additional Shares, the Company shall give notice thereof to the
      Depositary at least 60 days prior to the proposed distribution stating whether or not it wishes such rights to be made available to Holders of ADSs. Upon timely receipt by the Depositary of a notice indicating that the Company wishes such rights to
      be made available to Holders of ADSs, the Company shall determine whether it is lawful and reasonably practicable to make such rights available to the Holders. The Depositary shall make such rights available to any Holders only if the Company shall
      have timely requested that such rights be made available to Holders, the Depositary shall have received the documentation required by the Deposit Agreement, and the Depositary shall have determined that such distribution of rights is lawful and
      reasonably practicable.&#160; If such conditions are not satisfied, the Depositary shall sell the rights as described below.&#160; In the event all conditions set forth above are satisfied, the Depositary shall establish an ADS Record Date and establish
      procedures (x)&#160;to distribute such rights (by means of warrants or otherwise) and (y)&#160;to enable the Holders to exercise the rights (upon payment of the applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or
      Affiliate(s) of the Depositary and taxes and/or governmental charges).&#160; Nothing herein or in the Deposit Agreement shall obligate the Depositary to make available to the Holders a method to exercise such rights to subscribe for Shares (rather than
      ADSs).&#160; If (i)&#160;the Company does not timely request the Depositary to make the rights available to Holders or if the Company requests that the rights not be made available to Holders, (ii)&#160;the Depositary fails to receive the documentation required by
      the Deposit Agreement or determines it is not lawful or reasonably practicable to make the rights available to Holders, or (iii)&#160;any rights made available are not exercised and appear to be about to lapse, the Depositary shall determine whether it is
      lawful and reasonably practicable to sell such rights, and if it so determines that it is lawful and reasonably practicable, endeavour to sell such rights in a riskless principal capacity or otherwise, at such place and upon such terms (including
      public and/or private sale) as it may deem proper.&#160; The Depositary shall, upon such sale, convert and distribute proceeds of such sale (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s)
      of the Depositary and taxes and/or governmental charges) upon the terms hereof and in the Deposit Agreement.&#160; If the Depositary is unable to make any rights available to Holders or to arrange for the sale of the rights upon the terms described above,
      the Depositary shall allow such rights to lapse.&#160; The Depositary shall not be responsible for (i)&#160;any failure to determine that it may be lawful or practicable to make such rights available to Holders in general or any Holders in particular, (ii)&#160;any
      foreign exchange exposure or loss incurred in connection with such sale, or exercise, or (iii)&#160;the content of any materials forwarded to the Holders on behalf of the Company in connection with the rights distribution.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything herein to the contrary, if registration (under the Securities Act and/or any other applicable law) of the rights or the securities to which any rights
      relate may be required in order for the Company to offer such rights or such securities to Holders and to sell the securities represented by such rights, the Depositary will not distribute such rights to the Holders (i)&#160;unless and until a
      registration statement under the Securities Act covering such offering is in effect or (ii)&#160;unless the Company furnishes to the Depositary opinion(s) of counsel for the Company in the United States and counsel to the Company in any other applicable
      country in which rights would be distributed, in each case satisfactorily to the Depositary, to the effect that the offering and sale of such securities to Holders and Beneficial Owners are exempt from, or do not require registration under, the
      provisions of the Securities Act or any other applicable laws.&#160; In the event that the Company, the Depositary or the Custodian shall be required to withhold and does withhold from any distribution of property (including rights) an amount on account
      of taxes and/or other governmental charges, the amount distributed to the Holders shall be reduced accordingly. 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 charges which the Depositary is obligated to withhold, the Depositary may dispose of all or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in such manner,
      including by public or private sale, as the Depositary deems necessary and practicable to pay any such taxes and/or charges.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">There can be no assurance that Holders generally, or any Holder in particular, will be given the opportunity to exercise rights on the same terms and conditions as the holders of
      Shares or to exercise such rights.&#160; Nothing herein shall obligate the Company to file any registration statement in respect of any rights or Shares or other securities to be acquired upon the exercise of such rights or otherwise to register or
      qualify the offer or sale of such rights or securities under the applicable law of any other jurisdiction for any purpose.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Upon receipt of a notice regarding property other than cash, Shares or rights to purchase additional Shares, to be made to Holders of ADSs, the Depositary shall determine, after
      consultation with the Company, whether such distribution to Holders is lawful and reasonably practicable.&#160; The Depositary shall not make such distribution unless (i)&#160;the Company shall have timely requested the Depositary to make such distribution to
      Holders, (ii)&#160;the Depositary shall have received the documentation required by the Deposit Agreement, and (iii)&#160;the Depositary shall have determined that such distribution is lawful and reasonably practicable.&#160; Upon satisfaction of such conditions,
      the Depositary shall distribute the property so received to the Holders of record as of the ADS Record Date, in proportion to the number of ADSs held by such Holders respectively and in such manner as the Depositary may deem practicable for
      accomplishing such distribution (i)&#160;upon receipt of payment or net of the applicable fees and charges of, and expenses incurred by, the Depositary, and (ii)&#160;net of any taxes and/or governmental charges.&#160; The Depositary may dispose of all or a portion
      of the property so distributed and deposited, in such amounts and in such manner (including public or private sale) as the Depositary may deem practicable or necessary to satisfy any taxes (including applicable interest and penalties) or other
      governmental charges applicable to the distribution.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">If the conditions above are not satisfied, the Depositary shall sell or cause such property to be sold in a public or private sale, at such place or places and upon such terms as
      it may deem proper and shall distribute the proceeds of such sale received by the Depositary (net of (a)&#160;applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and (b)&#160;taxes and/or
      governmental charges) to the Holders upon the terms hereof and of the Deposit Agreement.&#160; If the Depositary is unable to sell such property, the Depositary may dispose of such property in any way it deems reasonably practicable under the
      circumstances.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">51</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(14)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Fixing of Record Date</u>.&#160; Whenever necessary in connection with any distribution (whether in cash, Shares,
        rights or other distribution), or whenever for any reason the Depositary causes a change in the number of Shares that are represented by each ADS, or whenever the Depositary shall receive notice of any meeting of or solicitation of holders of
        Shares or other Deposited Securities, or whenever the Depositary shall find it necessary or convenient in connection with the giving of any notice, or any other matter, the Depositary shall fix a record date (the &#8220;ADS Record Date&#8221;), as close as
        practicable to the record date fixed by the Company with respect to the Shares (if applicable), for the determination of the Holders who shall be entitled to receive such distribution, to give instructions for the exercise of voting rights at any
        such meeting, or to give or withhold such consent, or to receive such notice or solicitation or to otherwise take action, or to exercise the rights of Holders with respect to such changed number of Shares represented by each ADS or for any other
        reason. Subject to applicable law and the terms and conditions of this Receipt and the Deposit Agreement, only the Holders of record at the close of business in New York on such ADS Record Date shall be entitled to receive such distributions, to
        give such voting instructions, to receive such notice or solicitation, or otherwise take action.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(15)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Voting of Deposited Securities</u>. Subject to the next sentence, as soon as practicable after receipt of
        notice of any meeting at which the holders of Deposited Securities are entitled to vote, or of solicitation of consents or proxies from holders of Deposited Securities, the Depositary shall fix the ADS Record Date in respect of such meeting or such
        solicitation of consents or proxies. The Depositary shall, if requested by the Company in writing in a timely manner (the Depositary having no obligation to take any further action if the request shall not have been received by the Depositary at
        least 30 Business Days prior to the date of such vote or meeting) and at the Company&#8217;s expense, and provided no U.S. legal prohibitions exist, mail by regular, ordinary mail delivery (or by electronic mail or as otherwise may be agreed between the
        Company and the Depositary in writing from time to time) or otherwise distribute as soon as practicable after receipt thereof to Holders as of the ADS Record Date: (a) such notice of meeting or solicitation of consent or proxy; (b) a statement that
        the Holders at the close of business on the ADS Record Date will be entitled, subject to any applicable law, the provisions of this Deposit Agreement, the Company&#8217;s Memorandum and Articles of Association and the provisions of or governing the
        Deposited Securities (which provisions, if any, shall be summarized in pertinent part by the Company), to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by such Holder&#8217;s
        American Depositary Shares; and (c) a brief statement as to the manner in which such voting instructions may be given to the Depositary, or in which instructions may be deemed to have been given in accordance with this Article (15), including an
        express indication that instructions may be given (or be deemed to have been given in accordance with the immediately following paragraph of this section if no instruction is received) to the Depositary to give a discretionary proxy to a person or
        persons designated by the Company. Voting instructions may be given only in respect of a number of American Depositary Shares representing an integral number of Deposited Securities.&#160; Upon the timely receipt of voting instructions of a Holder on
        the ADS Record Date in the manner specified by the Depositary, the Depositary shall endeavor, insofar as practicable and permitted under applicable law, the provisions of this Deposit Agreement, the Company&#8217;s Memorandum and Articles of Association
        and the provisions of or governing the Deposited Securities, to vote or cause the Custodian to vote the Deposited Securities (in person or by proxy) represented by American Depositary Shares evidenced by such Receipt in accordance with such voting
        instructions.</font></div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">52</font></div>
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    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In the event that (i) the Depositary timely receives voting instructions from a Holder which fail to specify the manner in which the Depositary is to vote the Deposited Securities
      represented by such Holder&#8217;s ADSs or (ii)&#160;no timely instructions are received by the Depositary from a Holder with respect to any of the Deposited Securities represented by the ADSs held by such Holder on the ADS Record Date, the Depositary shall
      (unless otherwise specified in the notice distributed to Holders) deem such Holder 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, however, that no such instruction shall be deemed to have been 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, if applicable) that (x) the Company does not wish to give such proxy, (y) the Company is aware or
      should reasonably be aware that substantial opposition exists from Holders against the outcome for which the person designated by the Company would otherwise vote or (z) the outcome for which the person designated by the Company would otherwise vote
      would materially and adversely affect the rights of holders of Deposited Securities, provided, further, that the Company will have no liability to any Holder or Beneficial Owner resulting from such notification.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">In the event that voting on any resolution or matter is conducted on a show of hands basis in accordance with the Memorandum and Articles of Association, the Depositary will
      refrain from voting and the voting instructions (or the deemed voting instructions, as set out above) received by the Depositary from Holders shall lapse.&#160; The Depositary will have no obligation to demand voting on a poll basis with respect to any
      resolution and shall have no liability to any Holder or Beneficial Owner for not having demanded voting on a poll basis.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Neither the Depositary nor the Custodian shall, under any circumstances exercise any discretion as to voting, and neither the Depositary nor the Custodian shall vote, attempt to
      exercise the right to vote, or in any way make use of for purposes of establishing a quorum or otherwise, Deposited Securities represented by ADSs except pursuant to and in accordance with such written instructions from Holders, including the deemed
      instruction to the Depositary to give a discretionary proxy to a person designated by the Company. Deposited Securities represented by ADSs for which (i) no timely voting instructions are received by the Depositary from the Holder, or (ii) timely
      voting instructions are received by the Depositary from the Holder but such voting instructions fail to specify the manner in which the Depositary is to vote the Deposited Securities represented by such Holder&#8217;s ADSs, shall be voted in the manner
      provided in this Article (15). Notwithstanding anything else contained herein, and subject to applicable law, regulation and the Memorandum and Articles of Association, the Depositary shall, if so requested in writing by the Company, represent all
      Deposited Securities (whether or not voting instructions have been received in respect of such Deposited Securities from Holders as of the ADS Record Date) for the purpose of establishing quorum at a meeting of shareholders.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">There can be no assurance that Holders or Beneficial Owners generally or any Holder or Beneficial Owner in particular will receive the notice described above with sufficient time
      to enable the Holder to return voting instructions to the Depositary in a timely manner.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">53</font></div>
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    <div style="text-align: justify; font-size: 12pt;">Notwithstanding the above, save for applicable provisions of the law of the Cayman Islands, and in accordance with the terms of Section&#160;5.3 of the Deposit Agreement, the Depositary shall not be liable
      for any failure to carry out any instructions to vote any of the Deposited Securities or the manner in which such vote is cast or the effect of such vote.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(16)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Changes Affecting Deposited Securities</u>.&#160; Upon any change in par value, split&#8209;up, subdivision, cancellation,
        consolidation or any other reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger, amalgamation or consolidation or sale of assets affecting the Company or to which it otherwise is a party, any securities
        which shall be received by the Depositary or a Custodian in exchange for, or in conversion of or replacement or otherwise in respect of, such Deposited Securities shall, to the extent permitted by law, be treated as new Deposited Securities under
        the Deposit Agreement, and the Receipts shall, subject to the provisions of the Deposit Agreement and applicable law, evidence ADSs representing the right to receive such additional securities. Alternatively, the Depositary may, with the Company&#8217;s
        approval, and shall, if the Company shall so requests, subject to the terms of the Deposit Agreement and receipt of satisfactory documentation contemplated by the Deposit Agreement, execute and deliver additional Receipts as in the case of a stock
        dividend on the Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts, in either case, as well as in the event of newly deposited Shares, with necessary modifications to this form of Receipt specifically
        describing such new Deposited Securities and/or corporate change. Notwithstanding the foregoing, in the event that any security so received may not be lawfully distributed to some or all Holders, the Depositary may, with the Company&#8217;s approval, and
        shall if the Company requests, subject to receipt of satisfactory legal documentation contemplated in the Deposit Agreement, sell such securities at public or private sale, at such place or places and upon such terms as it may deem proper and may
        allocate the net proceeds of such sales (net of fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges) for the account of the Holders otherwise
        entitled to such securities and distribute the net proceeds so allocated to the extent practicable as in the case of a distribution received in cash pursuant to the Deposit Agreement. The Depositary shall not be responsible for (i)&#160;any failure to
        determine that it may be lawful or feasible to make such securities available to Holders in general or any Holder in particular, (ii)&#160;any foreign exchange exposure or loss incurred in connection with such sale, or (iii)&#160;any liability to the
        purchaser of such securities.</font></div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">54</font></div>
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(17)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Exoneration</u>.&#160; None of the Depositary, the Custodian or the Company shall be obligated to do or perform any
        act which is inconsistent with the provisions of the Deposit Agreement or shall incur any liability to Holders, Beneficial Owners or any third parties (i)&#160;if the Depositary, the Custodian or the Company or their respective controlling persons or
        agents shall be prevented or forbidden from, or subjected to any civil or criminal penalty or restraint on account of, or delayed in, doing or performing any act or thing required by the terms of the Deposit Agreement and this Receipt, by reason of
        any provision of any present or future law or regulation of the United States<font style="font-weight: bold;">,</font> the Cayman Islands or any other country, or of any other governmental authority or regulatory authority or stock exchange, or by
        reason of any provision, present or future of the Memorandum and Articles of Association or any provision of or governing any Deposited Securities, or by reason of any act of God or war or other circumstances beyond its control, (including, without
        limitation, nationalization, expropriation, currency restrictions, work stoppage, strikes, civil unrest, revolutions, rebellions, explosions and computer failure), (ii)&#160;by reason of any exercise of, or failure to exercise, any discretion provided
        for in the Deposit Agreement or in the Memorandum and Articles of Association or provisions of or governing Deposited Securities, (iii)&#160;for any action or inaction of the Depositary, the Custodian or the Company or their respective controlling
        persons or agents in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, any Beneficial Owner or authorized representative thereof, or any other person believed by it in
        good faith to be competent to give such advice or information, (iv)&#160;for any inability by a Holder or Beneficial Owner to benefit from any distribution, offering, right or other benefit which is made available to holders of Deposited Securities but
        is not, under the terms of the Deposit Agreement, made available to Holders of ADS or (v)&#160;for any special, consequential, indirect or punitive damages for any breach of the terms of the Deposit Agreement or otherwise.&#160; The Depositary, its
        controlling persons, its agents (including without limitation, the Agents), any Custodian and the Company, its controlling persons and its agents may rely and shall be protected in acting upon any written notice, request, opinion or other document
        believed by it to be genuine and to have been signed or presented by the proper party or parties.&#160; No disclaimer of liability under the Securities Act or the Exchange Act is intended by any provision of the Deposit Agreement.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">55</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(18)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Standard of Care</u>.&#160; The Company and the Depositary and their respective directors, officers, Affiliates,
        employees and agents (including without limitation, the Agents) assume no obligation and shall not be subject to any liability under the Deposit Agreement or the Receipts to Holders or Beneficial Owners or other persons, except in accordance with
        Section&#160;5.8 of the Deposit Agreement, provided, that the Company and the Depositary and their respective directors, officers, Affiliates, employees and agents (including without limitation, the Agents) agree to perform their respective obligations
        specifically set forth in the Deposit Agreement without gross negligence or wilful misconduct.&#160; The Depositary and its directors, officers, Affiliates, employees and agents (including without limitation, the Agents) shall not be liable for any
        failure to carry out any instructions to vote any of the Deposited Securities, or for the manner in which any vote is cast or the effect of any vote.&#160; The Depositary shall not incur any liability for any failure to determine that any distribution
        or action may be lawful or reasonably practicable, for the content of any information submitted to it by the Company for distribution to the Holders or for any inaccuracy of any translation thereof, for any investment risk associated with acquiring
        an interest in the Deposited Securities, for the validity or worth of the Deposited Securities or for any tax consequences that may result from the ownership of ADSs, Shares or Deposited Securities, for the credit&#8209;worthiness of any third party, for
        allowing any rights to lapse upon the terms of the Deposit Agreement or for the failure or timeliness of any notice from the Company or for any action or non action by it in reliance upon the opinion, advice of or information from legal counsel,
        accountants, any person presenting Shares for deposit, any Holder or any other person believed by it in good faith to be competent to give such advice or information. The Depositary and its agents (including without limitation, the Agents) 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 gross negligence or willful misconduct while it acted as Depositary.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">56</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(19)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Resignation and Removal of the Depositary; Appointment of Successor Depositary</u>.&#160; The Depositary may at any
        time resign as Depositary under the Deposit Agreement by written notice of resignation delivered to the Company, such resignation to be effective on the earlier of (i)&#160;the 90th day after delivery thereof to the Company (whereupon the Depositary
        shall, in the event no successor depositary has been appointed by the Company, be entitled to take the actions contemplated in the Deposit Agreement), or (ii) the appointment of a successor depositary and its acceptance of such appointment as
        provided in the Deposit Agreement, save that, any amounts, fees, costs or expenses owed to the Depositary under the Deposit Agreement or in accordance with any other agreements otherwise agreed in writing between the Company and the Depositary from
        time to time shall be paid to the Depositary prior to such resignation. The Company shall use reasonable efforts to appoint such successor depositary, and give notice to the Depositary of such appointment, not more than 90 days after delivery by
        the Depositary of written notice of resignation as provided in the Deposit Agreement.&#160; The Depositary may at any time be removed by the Company by written notice of such removal which notice shall be effective on the later of (i)&#160;the 90th day after
        delivery thereof to the Depositary (whereupon the Depositary shall be entitled to take the actions contemplated in the Deposit Agreement if a successor depositary has not been appointed), or (ii) the appointment of a successor depositary and its
        acceptance of such appointment as provided in the Deposit Agreement save that, any amounts, fees, costs or expenses owed to the Depositary under the Deposit Agreement or in accordance with any other agreements otherwise agreed in writing between
        the Company and the Depositary from time to time shall be paid to the Depositary prior to such removal. In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall use its best 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 and if it shall have not appointed a successor depositary the provisions referred to in Article (21) hereof and correspondingly in
        the Deposit Agreement shall apply. Every successor depositary shall be required by the Company to 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.&#160; The predecessor depositary, upon payment of all sums due to it and on the written request of the
        Company, shall (i)&#160;execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder (other than as contemplated in the Deposit Agreement), (ii)&#160;duly assign, transfer and deliver all right, title
        and interest to the Deposited Securities to such successor, and (iii)&#160;deliver to such successor a list of the Holders of all outstanding Receipts and such other information relating to Receipts and Holders thereof as the successor may reasonably
        request. Any such successor depositary shall promptly mail notice of its appointment to such Holders.&#160; 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 and, notwithstanding anything to the contrary in the Deposit Agreement, the Depositary may assign or otherwise transfer all or any of its rights and benefits under the Deposit Agreement (including any cause
        of action arising in connection with it) to Deutsche Bank AG or any branch thereof or any entity which is a direct or indirect subsidiary or other affiliate of Deutsche Bank AG.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">57</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(20)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Amendment/Supplement</u>.&#160; Subject to the terms and conditions of this Article&#160;(20), and applicable law, this
        Receipt and any provisions of the Deposit Agreement may at any time and from time to time be amended or supplemented by written agreement between the Company and the Depositary in any respect which they may deem necessary or desirable without the
        consent of the Holders or Beneficial Owners. Any amendment or supplement which shall impose or increase any fees or charges (other than the charges of the Depositary in connection with foreign exchange control regulations, and taxes and/or other
        governmental charges, delivery and other such expenses), or which shall otherwise materially prejudice any substantial existing right of Holders or Beneficial Owners, shall not, however, become effective as to outstanding Receipts until 30&#160;days
        after notice of such amendment or supplement shall have been given to the Holders of outstanding Receipts. Notice of any amendment to the Deposit Agreement or form of Receipts shall not need to describe in detail the specific amendments effectuated
        thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the Holders identifies a means for Holders and Beneficial Owners to
        retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission's, the Depositary's or the Company's website or upon request from the Depositary). The parties hereto agree that any amendments or supplements which (i)&#160;are
        reasonably necessary (as agreed by the Company and the Depositary) in order for (a)&#160;the ADSs to be registered on Form&#160;F&#8209;6 under the Securities Act or (b)&#160;the ADSs or Shares to be traded solely in electronic book&#8209;entry form and (ii)&#160;do not in either
        such case impose or increase any fees or charges to be borne by Holders, shall be deemed not to materially prejudice any substantial rights of Holders or Beneficial Owners. Every Holder and Beneficial Owner at the time any amendment or supplement
        so becomes effective shall be deemed, by continuing to hold such ADS, to consent and agree to such amendment or supplement and to be bound by the Deposit Agreement as amended or supplemented thereby. In no event shall any amendment or supplement
        impair the right of the Holder to surrender such Receipt and receive therefor the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. Notwithstanding the foregoing, if any governmental
        body should adopt new laws, rules or regulations which would require amendment or supplement of the Deposit Agreement to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement and the Receipt at
        any time in accordance with such changed laws, rules or regulations. Such amendment or supplement to the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders or within any
        other period of time as required for compliance with such laws, or rules or regulations.</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">58</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(21)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination</u>.&#160; The Depositary shall, at any time at the written direction of the Company, terminate the
        Deposit Agreement by mailing notice of such termination to the Holders of all Receipts then outstanding at least 90&#160;days prior to the date fixed in such notice for such termination provided that, the Depositary shall be reimbursed for any amounts,
        fees, costs or expenses owed to it in accordance with the terms of the Deposit Agreement and in accordance with any other agreements as otherwise agreed in writing between the Company and the Depositary from time to time, prior to such termination
        shall take effect. If 90&#160;days shall have expired after (i)&#160;the Depositary shall have delivered to the Company a written notice of its election to resign, or (ii)&#160;the Company shall have delivered to the Depositary a written notice of the removal of
        the Depositary, and in either case a successor depositary shall not have been appointed and accepted its appointment as provided herein and in the Deposit Agreement, the Depositary may terminate the Deposit Agreement by mailing notice of such
        termination to the Holders of all Receipts then outstanding at least 30&#160;days prior to the date fixed for such termination. On and after the date of termination of the Deposit Agreement, each Holder will, upon surrender of such Holder&#8217;s Receipt at
        the Corporate Trust Office of the Depositary, upon the payment of the charges of the Depositary for the surrender of Receipts referred to in Article&#160;(2) hereof and in the Deposit Agreement and subject to the conditions and restrictions therein set
        forth, and upon payment of any applicable taxes and/or governmental charges, be entitled to delivery, to him or upon his order, of the amount of Deposited Securities represented by such Receipt. If any Receipts shall remain outstanding after the
        date of termination of the Deposit Agreement, the Registrar thereafter shall discontinue the registration of transfers of Receipts, and the Depositary shall suspend the distribution of dividends to the Holders 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 or other property as provided in
        the Deposit Agreement, and shall continue to deliver Deposited Securities, subject to the conditions and restrictions set forth in the Deposit Agreement, together with any dividends or other distributions received with respect thereto and the net
        proceeds of the sale of any rights or other property, in exchange for Receipts surrendered to the Depositary (after deducting, or charging, as the case may be, in each case the charges of the Depositary for the surrender of a Receipt, any expenses
        for the account of the Holder in accordance with the terms and conditions of the Deposit Agreement and any applicable taxes and/or governmental charges or assessments). At any time after the expiration of six months from the date of termination of
        the Deposit Agreement, 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, in an unsegregated account,
        without liability for interest for the pro rata benefit of the Holders of Receipts whose Receipts have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations under the Deposit Agreement
        with respect to the Receipts and the Shares, Deposited Securities and ADSs, except to account for such net proceeds and other cash (after deducting, or charging, as the case may be, in each case the charges of the Depositary for the surrender of a
        Receipt, any expenses for the account of the Holder in accordance with the terms and conditions of the Deposit Agreement and any applicable taxes and/or governmental charges or assessments) and except as set forth in the Deposit Agreement. Upon the
        termination of the Deposit Agreement, the Company shall be discharged from all obligations under the Deposit Agreement except as set forth in the Deposit Agreement. The obligations under the terms of the Deposit Agreement and Receipts of Holders
        and Beneficial Owners of ADSs outstanding as of the effective date of any termination shall survive such effective date of termination and shall be discharged only when the applicable ADSs are presented by their Holders to the Depositary for
        cancellation under the terms of the Deposit Agreement and the Holders have each satisfied any and all of their obligations hereunder (including, but not limited to, any payment and/or reimbursement obligations which relate to prior to the effective
        date of termination but which payment and/or reimbursement is claimed after such effective date of termination).</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">59</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">Notwithstanding anything contained in the Deposit Agreement or any ADR, in connection with the termination of the Deposit Agreement, the Depositary may, independently and without
      the need for any action by the Company, make available to Holders of ADSs a means to withdraw the Deposited Securities represented by their ADSs and to direct the deposit of such Deposited Securities into an unsponsored American depositary shares
      program established by the Depositary, upon such terms and conditions as the Depositary may deem reasonably appropriate, subject however, in each case, to satisfaction of the applicable registration requirements by the unsponsored American depositary
      shares program under the Securities Act, and to receipt by the Depositary of payment of the applicable fees and charges of, and reimbursement of the applicable expenses incurred by, the Depositary.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(22)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Compliance with U.S. Securities Laws; Regulatory Compliance</u>.&#160; Notwithstanding any provisions in this
        Receipt or the Deposit Agreement to the contrary, the withdrawal or Delivery of Deposited Securities will not be suspended by the Company or the Depositary except as would be permitted by Section&#160;I.A.(1) of the General Instructions to Form&#160;F&#8209;6
        Registration Statement, as amended from time to time, under the Securities Act.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">&#160;(23)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 12pt;"><u>Certain Rights of the Depositary</u>. The Depositary, its Affiliates and their agents, on their own behalf, may
        own and deal in any class of securities of the Company and its Affiliates and in ADSs. The Depositary may issue ADSs against evidence of rights to receive Shares from the Company, any agent of the Company or any custodian, registrar, transfer
        agent, clearing agency or other entity involved in ownership or transaction records in respect of the Shares.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">&#160;(24)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 12pt;"><u>Ownership Restrictions</u>.&#160; Owners and Beneficial Owners shall comply with any limitations on ownership of
        Shares under the Memorandum and Articles of Association or applicable Cayman Islands law as if they held the number of Shares their American Depositary Shares represent.&#160; The Company shall inform the Owners, Beneficial Owners and the Depositary of
        any such ownership restrictions in place from time to time.</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 12pt;">(25)</font>&#160;&#160;&#160;&#160;&#160;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><u></u><font style="font-size: 12pt;"><u>Waiver.</u>
        EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS IN ANY ADRs) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
        A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY
        TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).</font></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">60</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">(ASSIGNMENT AND TRANSFER SIGNATURE LINES)</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-size: 12pt;">FOR VALUE RECEIVED, the undersigned Holder hereby sell(s), assign(s) and transfer(s) unto ______________________________ whose taxpayer identification number is
      _______________________ and whose address including postal zip code is ____________________________, the within Receipt and all rights thereunder, hereby irrevocably constituting and appointing ________________________ attorney&#8209;in&#8209;fact to transfer
      said Receipt on the books of the Depositary with full power of substitution in the premises.</div>
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        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Dated:</div>
          </td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Name:</div>
          </td>
          <td style="width: 43.96%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 39%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">By:</div>
          </td>
          <td colspan="2" style="vertical-align: top; font-weight: normal;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 39%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Title:</div>
          </td>
          <td colspan="2" style="vertical-align: top; font-weight: normal;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-weight: normal;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">NOTICE: The signature of the Holder to this assignment must correspond with the name as written upon the face of the within
              instrument in every particular, without alteration or enlargement or any change whatsoever.</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-weight: normal;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the person executing the
              endorsement must give his/her full title in such capacity and proper evidence of authority to act in such capacity, if not on file with the Depositary, must be forwarded with this Receipt.</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-size: 12pt; font-weight: normal;">SIGNATURE GUARANTEED</div>
          </td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">61</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z23227b2f0e94478c986608e70fe85270">

        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE I.</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">DEFINITIONS</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Affiliate&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">1</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Agent&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;American Depositary Share(s)&#8221; and &#8220;ADS(s)&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Article&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.5</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Articles of Association&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.6</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;ADS Record Date&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.7</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Beneficial Owner&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.8</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Business Day&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.9</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Commission&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.10</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Company&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.11</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Corporate Trust Office&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.12</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Custodian&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">2</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.13</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Deliver&#8221;, &#8220;Deliverable&#8221; and &#8220;Delivery&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.14</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Deposit Agreement&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.15</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Depositary&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.16</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Deposited Securities&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.17</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Dollars&#8221; and &#8220;$&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.18</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;DRS/Profile&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.19</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;DTC&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.20</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;DTC Participants&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.21</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Exchange Act&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.22</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Foreign Currency&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.23</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Foreign Registrar&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.24</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Holder&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.25</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Indemnified Person&#8221; and &#8220;Indemnifying Person&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.26</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Losses&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.27</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Memorandum&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.28</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Opinion of Counsel&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.29</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Receipt(s); &#8220;American Depositary Receipt(s)&#8221;; and &#8220;ADR(s)&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.30</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Registrar&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.31</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Restricted Securities&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.32</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Securities Act&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.33</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;Share(s)&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">4</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 1.34</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">&#8220;United States&#8221; or &#8220;U.S.&#8221;</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE II.</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">APPOINTMENT OF DEPOSITARY; FORM OF RECEIPT; DEPOSIT OF SHARES; EXECUTION AND DELIVERY, TRANSFER AND SURRENDER OF RECEIPTS</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Appointment of Depositary</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Form and Transferability of Receipts</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Deposits</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">7<br>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Execution and Delivery of Receipts</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">8</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.5</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Transfer of Receipts; Combination and Split&#8209;up of Receipts</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">8</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.6</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Surrender of Receipts and Withdrawal of Deposited Securities</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">9</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.7</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Limitations on Execution and Delivery, Transfer, etc. of Receipts; Suspension of Delivery, Transfer, etc.</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">11</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">62</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6dec49586f55493b96a99a39e75decc5">

        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.8</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Lost Receipts, etc.</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">11</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.9</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Cancellation and Destruction of Surrendered Receipts</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">11</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 2.10</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Maintenance of Records</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE III.</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">CERTAIN OBLIGATIONS OF HOLDERS AND BENEFICIAL OWNERS OF RECEIPTS</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 3.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Proofs, Certificates and Other Information</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 3.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Liability for Taxes and Other Charges</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">13</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 3.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Representations and Warranties on Deposit of Shares</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">13</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 3.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Compliance with Information Requests</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE IV</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">THE DEPOSITED SECURITIES.</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Cash Distributions</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Distribution in Shares</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Elective Distributions in Cash or Shares</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Distribution of Rights to Purchase Shares</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">16</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.5</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Distributions Other Than Cash, Shares or Rights to Purchase Shares</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">17</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.6</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Conversion of Foreign Currency</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">18</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.7</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Fixing of Record Date</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">19</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.8</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Voting of Deposited Securities</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">19</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.9</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Changes Affecting Deposited Securities</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">21</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.10</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Available Information</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">21</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.11</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Reports</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.12</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">List of Holders</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 4.13</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Taxation; Withholding</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE V.</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">THE DEPOSITARY, THE CUSTODIAN AND THE COMPANY</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">23</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Maintenance of Office and Transfer Books by the Registrar</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">23</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Exoneration</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">24</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Standard of Care</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">25</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Resignation and Removal of the Depositary; Appointment of Successor Depositary</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">26</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.5</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">The Custodian</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.6</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Notices and Reports</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.7</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Issuance of Additional Shares, ADSs etc.</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">29</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.8</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Indemnification</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">30</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.9</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Fees and Charges of Depositary</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">31</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 5.10</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Restricted Securities Owners/Ownership Restrictions</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">32</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE VI.</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">AMENDMENT AND TERMINATION</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">33</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 6.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Amendment/Supplement</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">33</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 6.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Termination</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">34</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">ARTICLE VII.</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">MISCELLANEOUS</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.1</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Counterparts</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.2</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">No Third&#8209;Party Beneficiaries</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.3</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Severability</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.4</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Holders and Beneficial Owners as Parties; Binding Effect</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.5</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Notices</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.6</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Governing Law and Jurisdiction</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">36</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">63</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z33779c552bbe46318f00db30f1e69ffb">

        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.7</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Assignment</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.8</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Agents</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.9</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Affiliates etc</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
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          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
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            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.10</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Exclusivity</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
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          <td style="width: 10%; vertical-align: top; font-weight: normal; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.11</div>
          </td>
          <td style="width: 54.45%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Compliance with U.S. Securities Laws</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top; font-weight: normal;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">SECTION 7.12</div>
          </td>
          <td style="width: 54.45%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">Titles</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">38</div>
          </td>
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          <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">EXHIBIT A</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">FORM OF FACE OF RECEIPT</div>
          </td>
          <td style="width: 7.37%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">40</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">EXHIBIT B</div>
          </td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">FORM OF REVERSE OF RECEIPT</div>
          </td>
          <td style="width: 7.37%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: normal;">49<br>
            </div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 6pt;"><br>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">64</font></div>
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<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>3
<FILENAME>21-13_ex-5.htm
<DESCRIPTION>EX. (D) OPINION
<TEXT>
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  <div>
    <div style="margin-bottom: 12pt;">March 17, 2021</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zfa554232b56b4c2bb42c152a81a52267" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <div>Deutsche Bank Trust Company Americas,</div>
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          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 97.06%; vertical-align: top;">
            <div>as Depositary under the Deposit Agreement</div>
            <div>referred to below</div>
          </td>
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          <td style="vertical-align: top;" colspan="2">
            <div>60 Wall Street<br>
              New York, NY 10005<br>
              United States</div>
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    </table>
    <div style="margin-top: 18pt; margin-bottom: 9pt;">Ladies and Gentlemen,</div>
    <div style="margin-bottom: 9pt;">We refer to the Registration Statement on Form F-6 (the &#8220;Registration Statement&#8221;) relating to American Depositary Shares (&#8220;ADSs&#8221;) evidenced by American Depositary Receipts (&#8220;Receipts&#8221;), each ADS representing two
      ordinary shares of Hywin Holdings Ltd. (the &#8220;Company&#8221;).</div>
    <div style="margin-bottom: 9pt;">In rendering the opinions set forth herein, we have assumed that (i) the Deposit Agreement appearing as Exhibit (a) to the Registration Statement (the &#8220;Deposit Agreement&#8221;) will have been duly authorized, executed and
      delivered by the Company and will constitute a valid and legally binding obligation of the Company enforceable against it in accordance with its terms, (ii) the relevant Deposited Securities (as defined in the Deposit Agreement) will have been duly
      deposited with a custodian under and in accordance with the Deposit Agreement and all applicable laws and regulations, (iii) the choice of New York law contained in the Deposit Agreement is legal and valid under the laws of the Cayman Islands and
      (iv) insofar as any obligation under the Deposit Agreement is to be performed in, or by a party organized under the laws of, any jurisdiction outside of the United States of America, its performance will not be illegal or ineffective in any
      jurisdiction by virtue of the law of that jurisdiction.</div>
    <div style="margin-bottom: 9pt;">Based upon and subject to the foregoing, we are of the opinion that the ADSs covered by the Registration Statement, when evidenced by Receipts that are duly executed and delivered by the Depositary (as defined in the
      Deposit Agreement) and issued in accordance with the terms of the Deposit Agreement, will be validly issued and will entitle the registered holders thereof to the rights specified in the Deposit Agreement and those Receipts.</div>
    <div style="margin-bottom: 9pt;">The foregoing opinion is limited to the laws of the State of New York and we express no opinion as to the laws of any other jurisdiction.</div>
    <div style="margin-bottom: 9pt;">We hereby consent to the use of this opinion as Exhibit (d) to the Registration Statement.&#160; In giving such consent, we do not admit hereby that we are within the category of persons whose consent is required under
      Section&#160;7 of the Securities Act of 1933.</div>
    <br>
    <div>Very truly yours,</div>
    <div> <br>
    </div>
    <div><br>
    </div>
    <div>/s/ White &amp; Case LLP<br>
    </div>
    <div><br>
    </div>
    <div>FF-B: CBW: CEW</div>
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