<SEC-DOCUMENT>0001193805-23-000671.txt : 20230505
<SEC-HEADER>0001193805-23-000671.hdr.sgml : 20230505
<ACCEPTANCE-DATETIME>20230505155525
ACCESSION NUMBER:		0001193805-23-000671
CONFORMED SUBMISSION TYPE:	F-6EF
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20230505
DATE AS OF CHANGE:		20230505

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NaaS Technology Inc.
		CENTRAL INDEX KEY:			0001712178
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-RETAIL STORES, NEC [5990]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		F-6EF
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-271683
		FILM NUMBER:		23893599

	BUSINESS ADDRESS:	
		STREET 1:		NEWLINK CENTER, AREA G, BLDG. 7,HUITONG
		STREET 2:		TIMES SQUARE, NO.1 YAOJIAYUAN SOUTH RD,
		CITY:			CHAOYANG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100024
		BUSINESS PHONE:		861085511066

	MAIL ADDRESS:	
		STREET 1:		NEWLINK CENTER, AREA G, BLDG. 7,HUITONG
		STREET 2:		TIMES SQUARE, NO.1 YAOJIAYUAN SOUTH RD,
		CITY:			CHAOYANG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RISE Education Cayman Ltd
		DATE OF NAME CHANGE:	20170718

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JPMorgan Chase Bank, N.A. - ADR Depositary
		CENTRAL INDEX KEY:			0001474274
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 8880 [8880]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-6EF

	BUSINESS ADDRESS:	
		STREET 1:		383 MADISON AVENUE
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179
		BUSINESS PHONE:		212-319-7600

	MAIL ADDRESS:	
		STREET 1:		383 MADISON AVENUE
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-6EF
<SEQUENCE>1
<FILENAME>e618595_f6ef-nt.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>As
filed with the U.S. Securities and Exchange Commission on May 5, 2023</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="border-bottom: Black 2px solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt"><B>&#9;Registration
No. 333- </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM F-6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For Depositary Shares Evidenced by American
Depositary Receipts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NaaS Technology Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of issuer of deposited securities
as specified in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>n/a</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Translation of issuer's name into English)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Cayman Islands</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Jurisdiction of incorporation or organization
of issuer)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JPMORGAN CHASE BANK, N.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name <FONT STYLE="font-size: 10pt">of
depositary as specified in its charter)</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>383 Madison Avenue, Floor 11, New York, New
York 10179</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Telephone (800)&nbsp;990-1135</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address, including zip code, and telephone
number, including area code, of depositary&rsquo;s principal </B>executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cogency Global Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>10 East 40th Street, 10th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Telephone: (800)&nbsp;221-0102</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and telephone number,
including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Copy to:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JPMorgan Chase Bank, N.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>383 Madison Avenue, Floor 11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY, 10179</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel. No.: (800)&nbsp;990-1135</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">It is proposed that this filing become effective
under Rule 466</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">&#9746;</TD>
    <TD STYLE="width: 35%"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">immediately upon filing</P></B></TD>
    <TD STYLE="text-align: center; width: 20%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&#9744;&nbsp;</TD>
    <TD>on (Date) at (Time)</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
a separate registration statement has been filed to register the deposited shares, check the following box. &#9744;</FONT></P>

<P STYLE="font: 10pt Courier; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Title of each class of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities to be registered</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 15%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>to be registered</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 17%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed maximum aggregate price per unit <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proposed maximum</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>aggregate offering price <SUP>(2)</SUP></B></P></TD>
    <TD STYLE="width: 15%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>registration fee</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt double; padding-left: 3.95pt; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">American Depositary Shares evidenced by American Depositary Receipts, each American Depositary Share representing ten (10)&nbsp;Ordinary Shares, par value US$0.01 per share, of NaaS Technology Inc.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">250,000,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.05</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">12,500,000</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.25pt double; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;$1377.50</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Each unit represents one American Depositary Share.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Estimated solely for the purpose of calculating the registration
fee. Pursuant to Rule&nbsp;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 Receipts evidencing American Depositary Shares.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>PART I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INFORMATION
REQUIRED IN PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">The
Prospectus consists of the form of American Depositary Receipt (&quot;ADR&quot; or &quot;American Depositary Receipt&quot;) filed </FONT>as
Exhibit (a)(3) to <FONT STYLE="letter-spacing: -0.1pt">this Registration </FONT>Statement on Form&nbsp;F-6,&nbsp;which is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CROSS REFERENCE SHEET</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 48pt; font-size: 10pt; layout-grid-mode: line; text-indent: -48pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;1.&ensp;&thinsp;&thinsp;DESCRIPTION OF SECURITIES TO BE REGISTERED</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-align: left; vertical-align: bottom; border-bottom: black 1pt solid; layout-grid-mode: line; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item Number and Caption</FONT></TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; border-bottom: black 1pt solid; layout-grid-mode: line; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Location in Form of American Depositary<BR>
Receipt Filed Herewith as Prospectus</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)&ensp;&thinsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0; width: 45%">&hairsp;Name and address of Depositary</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Introductory paragraph and bottom of face of American Depositary Receipt</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-indent: 0">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)&ensp;&thinsp;&hairsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">Title of American Depositary Receipts
and identity of deposited securities</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Face of American Depositary Receipt, top center</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">Terms of Deposit:</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: bottom; layout-grid-mode: line; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; vertical-align: top; layout-grid-mode: line; text-indent: 0">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount of deposited securities represented by one unit of American Depositary Shares</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Face of American Depositary Receipt, upper right corner</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Procedure for voting, if any, the deposited securities</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraph (5), (6), (11) and (12)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Collection and distribution of dividends</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (4), (5), (7) and (10)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transmission of notices, reports and proxy soliciting material</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (3), (8), (11) and (12)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(v)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sale or exercise of rights</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (4), (5) and (10)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(vi)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deposit or sale of securities resulting from dividends, splits or plans of reorganization</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (3), (4), (5), (10) and (13)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(vii)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amendment, extension or termination of the Deposit Agreement</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (15), (16) and (17)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(viii)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rights of holders of ADRs to inspect the transfer books of the Depositary and the list of Holders of ADRs</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraph (3)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ix)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restrictions upon the right to deposit or withdraw the underlying securities</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraphs (1), (2), (4), (5) and (6)</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(x)</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limitation upon the liability of the Depositary</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraph (14)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3) </FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fees and Charges</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 5%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraph (7)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -48pt"><B>Item&nbsp;2.&ensp;&thinsp;&thinsp;AVAILABLE
    INFORMATION</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -48pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; font-size: 10pt; layout-grid-mode: line; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item Number and Caption</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt; layout-grid-mode: line; width: 45%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Location in Form of American Depositary</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Receipt Filed Herewith as Prospectus</FONT></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a) <FONT STYLE="font-size: 10pt; letter-spacing: -0.1pt">&#9;</FONT>Statement that NaaS Technology Inc. is subject to the periodic reporting requirements of the Securities Exchange Act of 1934 and accordingly files certain reports with the Securities and Exchange Commission and that such reports and other information may be inspected and copied through the Commission&rsquo;s EDGAR system or at public reference facilities maintained by the Securities and Exchange Commission in Washington, D.C.</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paragraph (8)</FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>




<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>PART
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INFORMATION
NOT REQUIRED IN PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; letter-spacing: -0.1pt; text-align: justify">Item 3.
EXHIBITS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; letter-spacing: -0.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(a)(1)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>Deposit Agreement</B>. </FONT>Form of Deposit
Agreement among NaaS Technology Inc. (fka Rise Education Cayman Ltd.) JPMorgan Chase Bank, N.A., as depositary (the &ldquo;Depositary&rdquo;),
and all holders from time to time of ADRs issued thereunder (the &ldquo;Deposit Agreement&rdquo;). Previously filed as Exhibit (a)&nbsp;to
Post-Effective Amendment No.&nbsp;1 to Registration Statement on Form&nbsp;F-6/A&nbsp;(File&nbsp;No.&nbsp;333-220873)&nbsp;filed on October&nbsp;17,
2017 and incorporated by reference herein.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)(2)</TD><TD STYLE="text-align: justify; padding-right: 0.5in"><B>Form of Amendment to Deposit Agreement. </B>Previously filed as Exhibit (a)(2)
to Post-Effective Amendment No. 1 to Registration Statement on Form F-6/A (333-225443) filed on May 31, 2022 and incorporated by reference
herein.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)(3)</TD><TD STYLE="text-align: justify; padding-right: 0.5in"><B>Form of American Depositary Receipt.&nbsp;</B>Filed herewith as Exhibit (a)(3).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(b)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><B>Any other agreement to which the Depositary is a party relating to the issuance
of the American Depositary Shares registered hereunder or the custody of the deposited securities represented thereby.&nbsp;</B>Not Applicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(c)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><B>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.&nbsp;</B>Not Applicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(d)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><B>Opinion of counsel to the Depositary as to the legality of the securities being
registered. </B>Filed herewith as Exhibit (d).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(e)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>Certification under Rule 466.</B> Filed
herewith as Exhibit (e).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(f)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt"><B>Power of Attorney for certain officers and
directors of the Registrant</B>. Included as part of the signature pages hereto.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Item
4. UNDERTAKINGS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(a)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">The Depositary hereby undertakes to make available
at the principal office of the Depositary in the United States, for inspection by holders of the American Depositary Receipts, any reports
and communications received from the issuer of the deposited securities which are both (1)&nbsp;received by the Depositary as the holder
of the deposited securities, and (2)&nbsp;made generally available to the holders of the underlying securities by the issuer.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="letter-spacing: -0.1pt">(b)</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">If the amounts of fees charged are 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 charged and to deliver promptly a copy of such fee schedule without charge to anyone upon request. The Depositary undertakes
to notify each registered holder of an American Depositary Receipt thirty days before any change in the fee schedule.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, as amended, JPMorgan Chase Bank, N.A. on behalf of the legal entity created by the Deposit Agreement, certifies that it has
reasonable grounds to believe that all the requirements for filing on Form&nbsp;F-6&nbsp;are met and has duly caused <FONT STYLE="letter-spacing: -0.1pt">this
Registration Statement to </FONT>be signed on its behalf by the undersigned, thereunto duly authorized, in The City of New York, State
of New York, <FONT STYLE="letter-spacing: -0.1pt">on May 5, 2023</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
    entity created by the form of Deposit Agreement for the issuance of ADRs evidencing American Depositary Shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">JPMORGAN CHASE BANK, N.A., as</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Depositary</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid">/s/ Gregory A. Levendis</P></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gregory A. Levendis</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive Director</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933, as amended,
NaaS Technology Inc. certifies that it has reasonable grounds to believe that all the requirements for filing on Form&nbsp;F-6&nbsp;are
met and has duly caused this Registration Statement on Form&nbsp;F-6&nbsp;to be signed on its behalf by the undersigned, thereunto duly
authorized, in Beijing, China, on May 5, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">NAAS TECHNOLOGY INC.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 35%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid">/s/ Yang Wang</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yang Wang</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each person whose signature appears below constitutes and appoints
each of Yang Wang and Alex Wu as&nbsp;attorneys-in-fact&nbsp;with full power of substitution, for him or her in any and all capacities,
to do any and all acts and all things and to execute any and all instruments which said attorney and agent may deem necessary or desirable
to enable the registrant to comply with the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), and any rules, regulations
and requirements of the Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of
American depositary shares (the &ldquo;ADSs&rdquo;) representing ordinary shares of the registrant, including, without limitation, the
power and authority to sign the name of each of the undersigned in the capacities indicated below to the Registration Statement on Form&nbsp;F-6&nbsp;(the
&ldquo;Registration Statement&rdquo;) to be filed with the Securities and Exchange Commission with respect to such ADSs, to any and all
amendments or supplements to such Registration Statement, whether such amendments or supplements are filed before or after the effective
date of such Registration Statement, to any related Registration Statement filed pursuant to Rule 462(b) under the Securities Act, and
to any and all instruments or documents filed as part of or in connection with such Registration Statement or any and all amendments thereto,
whether such amendments are filed before or after the effective date of such Registration Statement; and each of the undersigned hereby
ratifies and confirms all that such attorney and agent shall do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the requirements of the Securities Act of 1933, as amended, this
Registration Statement on Form F-6 has been signed by the following persons in the capacities indicated below, on May 5, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: white; font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 35%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Signature</B></P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 5%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Title</B></P></TD>
    </TR>
  <TR>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">
<DIV STYLE="padding: 0in; border-bottom: Black 0.5pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Yang Wang</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yang Wang</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer and Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Principal Executive Officer)</P></TD>
    </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">
<DIV STYLE="padding: 0in; border-bottom: Black 0.5pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Zhen Dai</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zhen Dai</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chairman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">
<DIV STYLE="padding: 0in; border-bottom: Black 0.5pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Weilin Sun</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Weilin Sun</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">
<DIV STYLE="padding: 0in; border-bottom: Black 0.5pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Zhongjue Chen</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zhongjue Chen</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">


    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Bin Liu</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">


    &nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Independent Director</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Xiaoli Liu</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">
<DIV STYLE="padding: 0in; border-bottom: black 0.75pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Guangming Ren</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Guangming Ren</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Independent Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top">
<DIV STYLE="padding: 0in; border-bottom: black 0.75pt solid">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Alex Wu&nbsp;</P>
</DIV>

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alex Wu</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President, Chief Financial Officer and Director</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Principal Financial and Accounting officer)</P></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE
OF THE REGISTRANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the United States Securities Act of
1933, as amended, the undersigned, the registrant&rsquo;s duly authorized representative in the United States, has signed this Registration
Statement in the City of New York, State of New York, on the 5th day of May, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">AUTHORIZED U.S. REPRESENTATIVE</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 38%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid">/s/ Colleen A. De Vries</P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Colleen A. De Vries</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif">Senior Vice President</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">Exhibit <U>Number</U></FONT></TD>
    <TD STYLE="width: 69%; font-size: 10pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; font-size: 10pt; layout-grid-mode: line; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="letter-spacing: -0.1pt">(a)(3)</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="letter-spacing: -0.1pt">Form of American Depositary
Receipt</FONT></P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="letter-spacing: -0.1pt">(d)</TD>
    <TD><FONT STYLE="letter-spacing: -0.1pt">Opinion of Counsel to the
Depositary</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">(e)</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">Rule 466 Certification.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD></TR>
  </TABLE>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(3)
<SEQUENCE>2
<FILENAME>e618595_ex99-a3.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="width: 30%; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">No. of ADSs:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each ADS represents</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ten (10) Shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMERICAN DEPOSITARY RECEIPT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">evidencing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMERICAN DEPOSITARY SHARES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">representing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ORDINARY SHARES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NAAS TECHNOLOGY INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Incorporated under the laws of the Cayman Islands)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">JPMORGAN CHASE BANK, N.A., a national banking association
organized under the laws of the United States of America, as depositary hereunder (the &ldquo;<B>Depositary</B>&rdquo;), hereby certifies
that ___________&nbsp;is the registered owner (a &ldquo;<B>Holder</B>&rdquo;) of&nbsp;_____________ American Depositary Shares (&ldquo;<B>ADSs</B>&rdquo;),
each (subject to paragraph (13) (<I>Changes Affecting Deposited Securities</I>)) representing ten (10)&nbsp;ordinary shares (including
the rights to receive Shares described in paragraph (1) (<I>Issuance of&nbsp;ADSs</I>), &ldquo;<B>Shares</B>&rdquo; and, together with
any other securities, cash or property from time to time held by the Depositary in respect or in lieu of deposited Shares, the &ldquo;<B>Deposited
Securities</B>&rdquo;), of NaaS Technology Inc., a corporation organized under the laws of the Cayman Islands (the &ldquo;<B>Company</B>&rdquo;),
deposited under the Deposit Agreement, dated as of October 19, 2017 (as amended from time to time, the &ldquo;<B>Deposit Agreement</B>&rdquo;),
among the Company, the Depositary and all Holders from time to time of American Depositary Receipts issued thereunder (&ldquo;<B>ADRs</B>&rdquo;),
each of whom by accepting an ADR becomes a party thereto. The Deposit Agreement and this ADR (which includes the provisions set forth
on the reverse hereof) shall be governed by and construed in accordance with the internal laws of the State of New York without giving
effect to the application of the conflict of law principles thereof. All capitalized terms used herein, and not defined herein, shall
have the meanings ascribed to such terms in the Deposit Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(1)&nbsp;<B>Issuance of ADSs</B>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <I>Issuance</I>. This ADR is one of the ADRs
issued under the Deposit Agreement. Subject to the other provisions hereof, the Depositary may so issue ADRs for delivery at the Transfer
Office (as hereinafter defined) only against deposit of: (i)&nbsp;Shares in a form satisfactory to the Custodian; or (ii)&nbsp;rights
to receive Shares from the Company or any registrar, transfer agent, clearing agent or other entity recording Share ownership or transactions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) Notwithstanding anything else contained in the
Deposit Agreement, in this ADR and/or in any outstanding ADSs, the Depositary, the Custodian and their respective nominees are intended
to be and shall at all times during the term of the Deposit Agreement be, the record holder(s) only of the Deposited Securities represented
by the ADSs for the benefit of the Holders. The Depositary, on its own behalf and on behalf of the Custodian and their respective nominees,
disclaims any beneficial ownership interest in the Deposited Securities held on behalf of the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <I>Representations and Warranties of Depositors</I>.
Every person depositing Shares under the Deposit Agreement represents and warrants that: (i)such Shares and the certificates therefor
are duly authorized, validly issued and outstanding, fully paid, nonassessable and legally obtained by such person, (ii)&nbsp;all&nbsp;pre-emptive&nbsp;and
comparable rights, if any, with respect to such Shares have been validly waived or exercised, (iii)&nbsp;the person making such deposit
is duly authorized so to do, (iv)&nbsp;the Shares presented for deposit are free and clear of any lien, encumbrance, security interest,
charge, mortgage or adverse claim, and (iv)&nbsp;such Shares (A)&nbsp;are not &ldquo;restricted securities&rdquo; as such term is defined
in Rule 144 under the Securities Act of 1933 (&ldquo;<B>Restricted Securities</B>&rdquo;) unless at the time of deposit the requirements
of paragraphs (c), (e), (f) and (h)&nbsp;of Rule 144 shall not apply and such Shares may be freely transferred and may otherwise be offered
and sold freely in the United States or (B)&nbsp;have been registered under the Securities Act of 1933. To the extent the person depositing
Shares is an &ldquo;affiliate&rdquo; of the Company as such term is defined in Rule 144, the person also represents and warrants that
upon the sale of the ADSs, all of the provisions of Rule 144 which enable the Shares to be freely sold (in the form of ADSs) will be fully
complied with and, as a result thereof, all of the ADSs issued in respect of such Shares will not be on the sale thereof, Restricted Securities.
Such representations and warranties shall survive the deposit and withdrawal of Shares and the issuance and cancellation of ADSs in respect
thereof and the transfer of such ADSs. The Depositary may refuse to accept for such deposit any Shares identified by the Company in order
to facilitate compliance with the requirements of the securities laws, rules and regulations in the United States.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2)&nbsp;<B>Withdrawal of Deposited Securities</B>.
Subject to paragraphs (4) (<I>Certain Limitations to Registration, Transfer etc.)&nbsp;</I>and (5) (<I>Liability of Holder for Taxes,
Duties and Other Charges</I>), upon surrender of (a)&nbsp;a certificated ADR in a form satisfactory to the Depositary at the Transfer
Office or (b)&nbsp;proper instructions and documentation in the case of a Direct Registration ADR, the Holder hereof is entitled to delivery
at, or to the extent in dematerialized form from, the Custodian&rsquo;s office of the Deposited Securities at the time represented by
the ADSs evidenced by this ADR. At the request, risk and expense of the Holder hereof, the Depositary may deliver such Deposited Securities
at such other place as may have been requested by the Holder. Notwithstanding any other provision of the Deposit Agreement or this ADR,
the withdrawal of Deposited Securities may be restricted only for the reasons set forth in General Instruction I.A.(1) of Form&nbsp;F-6&nbsp;(as
such instructions may be amended from time to time) under the Securities Act of 1933.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(3)&nbsp;<B>Transfers,&nbsp;Split-Ups&nbsp;and
Combinations of ADRs</B>. The Depositary or its agent will keep, at a designated transfer office (the &ldquo;<B>Transfer Office</B>&rdquo;),
(a) a register (the &ldquo;<B>ADR Register</B>&rdquo;) for the registration, registration of transfer, combination and&nbsp;split-up&nbsp;of
ADRs, and, in the case of Direct Registration ADRs, shall include the Direct Registration System, which at all reasonable times will be
open for inspection by Holders and the Company for the purpose of communicating with Holders in the interest of the business of the Company
or a matter relating to the Deposit Agreement and (b)&nbsp;facilities for the delivery and receipt of ADRs. The term ADR Register includes
the Direct Registration System. Title to this ADR (and to the Deposited Securities represented by the ADSs evidenced hereby), when properly
endorsed (in the case of ADRs in certificated form) or upon delivery to the Depositary of proper instruments of transfer, is transferable
by delivery with the same effect as in the case of negotiable instruments under the laws of the State of New York;&nbsp;<U>provided</U>&nbsp;that
the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this ADR is registered on the ADR Register
as the absolute owner hereof for all 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 an ADR, unless such holder is the Holder thereof. Subject to paragraphs (4) and
(5), this ADR is transferable on the ADR Register and may be split into other ADRs or combined with other ADRs into one ADR, evidencing
the aggregate number of ADSs surrendered for split-up or combination, by the Holder hereof or by duly authorized attorney upon surrender
of this ADR at the Transfer Office properly endorsed (in the case of ADRs in certificated form) or upon delivery to the Depositary of
proper instruments of transfer and duly stamped as may be required by applicable law; provided that the Depositary may close the ADR Register
at any time or from time to time when deemed expedient by it. Additionally, at the reasonable request of the Company, the Depositary may
close the issuance book portion of the ADR Register solely in order to enable the Company to comply with applicable law; provided, further,
that the Depositary shall have no liability and shall be indemnified by the Company in such event. At the request of a Holder, the Depositary
shall, for the purpose of substituting a certificated ADR with a Direct Registration ADR, or vice versa, execute and deliver a certificated
ADR or a Direct Registration ADR, as the case may be, for any authorized number of ADSs requested, evidencing the same aggregate number
of ADSs as those evidenced by the certificated ADR or Direct Registration ADR, as the case may be, substituted.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(4)&nbsp;<B>Certain Limitations to Registration,
Transfer etc.</B>&nbsp;Prior to the issue, registration, registration of transfer,&nbsp;split-up&nbsp;or combination of any ADR, the delivery
of any distribution in respect thereof, or, subject to the last sentence of paragraph (2) (<I>Withdrawal of Deposited Securities</I>),
the withdrawal of any Deposited Securities, and from time to time in the case of clause (b)(ii) of this paragraph (4), the Company, the
Depositary or the Custodian may require: (a)&nbsp;payment with respect thereto of (i)&nbsp;any stock transfer or other tax or other governmental
charge, (ii)&nbsp;any stock transfer or registration fees in effect for the registration of transfers of Shares or other Deposited Securities
upon any applicable register, and (iii)&nbsp;any applicable charges as provided in paragraph (7) (<I>Charges of Depositary</I>) of this
ADR; (b)&nbsp;the production of proof satisfactory to it of (i)&nbsp;the identity of any signatory and genuineness of any signature and
(ii)&nbsp;such other information, including without limitation, information as to citizenship, residence, exchange control approval, beneficial
or other ownership of, or interest in, any securities, compliance with applicable law, regulations, provisions of or governing Deposited
Securities and terms of the Deposit Agreement and this ADR, as it may deem necessary or proper; and (c)&nbsp;compliance with such regulations
as the Depositary may establish consistent with the Deposit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The issuance of ADRs, the acceptance of deposits
of Shares, the registration, registration of transfer,&nbsp;split-up&nbsp;or combination of ADRs or, subject to the last sentence of paragraph
(2) (<I>Withdrawal of Deposited Securities</I>), the withdrawal of Deposited Securities may be suspended, generally or in particular instances,
when the ADR Register or any register for Deposited Securities is closed or when any such action is deemed advisable by the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(5)&nbsp;<B>Liability of Holder for Taxes, Duties
and Other Charges</B>. If any tax or other governmental charges (including any penalties and/or interest) shall become payable by or on
behalf of the Custodian or the Depositary with respect to this ADR, any Deposited Securities represented by the ADSs evidenced hereby
or any distribution thereon, including, without limitation, any Chinese enterprise income tax owed if the Circular Guoshuifa [2009] No.&nbsp;82
issued by the Chinese State Administration of Taxation (SAT) or any other circular, edict, order or ruling, as issued and as from time
to time amended, is applied or otherwise, such tax or other governmental charge shall be paid by the Holder hereof to the Depositary and
by holding or having held an ADR the Holder and all prior Holders hereof, jointly and severally, agree to indemnify, defend and save harmless
each of the Depositary and its agents in respect thereof. Neither the Depositary, nor any of its agents, shall be liable to Holders or
beneficial owners of the ADSs and ADRs for failure of any of them to comply with applicable tax laws, rules and/or regulations. Notwithstanding
the Depositary's right to seek payment from current and former beneficial owners of ADSs, the Holders hereof (and all prior Holders hereof)
acknowledge and agree that the Depositary has no obligation to seek payment of amounts owing under this paragraph (5) from any current
or former beneficial owner of ADSs. The Depositary may refuse to effect any registration, registration of transfer,&nbsp;split-up&nbsp;or
combination hereof or, subject to the last sentence of paragraph (2) (<I>Withdrawal of Deposited Securities</I>), any withdrawal of such
Deposited Securities until such payment is made. The Depositary may also deduct from any distributions on or in respect of Deposited Securities,
or may sell by public or private sale for the account of the Holder hereof any part or all of such Deposited Securities, and may apply
such deduction or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder hereof remaining liable
for any deficiency, and shall reduce the number of ADSs evidenced hereby to reflect any such sales of Shares. In connection with any distribution
to Holders, the Company will remit to the appropriate governmental authority or agency all amounts (if any) required to be withheld and
owing to such authority or agency by the Company; and the Depositary and the Custodian will remit to the appropriate governmental authority
or agency all amounts (if any) required to be withheld and owing to such authority or agency by the Depositary or the Custodian. If the
Depositary determines that any distribution in property other than cash (including Shares or rights) on Deposited Securities is subject
to any tax that the Depositary or the Custodian is obligated to withhold, the Depositary may dispose of all or a portion of such property
in such amounts and in such manner as the Depositary deems necessary and practicable to pay such taxes, by public or private sale, and
the Depositary shall distribute the net proceeds of any such sale or the balance of any such property after deduction of such taxes to
the Holders entitled thereto. Each Holder of an ADR or an interest therein agrees to indemnify the Depositary, the Company, the Custodian
and any of their respective officers, directors, 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 which obligations shall survive any transfer or surrender of ADSs or the termination
of the Deposit Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(6)&nbsp;<B>Disclosure of Interests</B>. To the
extent that the provisions of or governing any Deposited Securities may require disclosure of or impose limits on beneficial or other
ownership of, or interest in, Deposited Securities, other Shares and other securities and may provide for blocking transfer, voting or
other rights to enforce such disclosure or limits, Holders and all persons holding ADRs agree to comply with all such disclosure requirements
and ownership limitations and to comply with any reasonable Company instructions in respect thereof. The Company reserves the right to
instruct Holders to deliver their ADSs for cancellation and withdrawal of the Deposited Securities so as to permit the Company to deal
directly with the Holder thereof as a holder of Shares and Holders agree to comply with such instructions. The Depositary agrees to cooperate
with the Company in its efforts to inform Holders of the Company&rsquo;s exercise of its rights under this paragraph, and to consult with,
and provide reasonable assistance, without risk, liability or expense on the part of the Depositary, the Company on the manner or manners
in which it may enforce such rights with respect to any Holder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(7)&nbsp;<B>Charges of Depositary</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <I>Rights of the Depositary</I>. The Depositary
may charge, and collect from, (i)&nbsp;each person to whom ADSs are issued,&nbsp;including, without limitation, issuances&nbsp;against
deposits of Shares,&nbsp;issuances in respect of Share Distributions, Rights and Other Distributions (as such terms are defined in paragraph
(10) (<I>Distributions on Deposited Securities</I>)),&nbsp;issuances pursuant to a stock dividend or stock split declared by the Company,
or issuances pursuant to a merger,&nbsp;exchange of securities or any other transaction or event affecting the ADSs or the Deposited Securities,
and&nbsp;(ii) each person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for any other
reason, U.S.$5.00 for each 100 ADSs (or portion thereof) issued, delivered, reduced, cancelled&nbsp;or surrendered (as the case may be).
The Depositary may sell (by public or private sale) sufficient securities and property received in respect of Share Distributions, Rights
and Other Distributions prior to such deposit to pay such charge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <I>Additional Charges by the Depositary</I>.
The following additional charges shall be incurred by the Holders, by any party depositing or withdrawing Shares or by any party surrendering
ADSs and/or to whom ADSs are issued (including, without limitation, issuances pursuant to a stock dividend or stock split declared by
the Company or an exchange of stock regarding the ADSs or the Deposited Securities or a distribution of ADSs pursuant to paragraph (10)
(<I>Distributions on Deposited Securities</I>), whichever is applicable: (i)&nbsp;a fee of U.S.$0.05 or less per ADS for any Cash distribution
made pursuant to the Deposit Agreement, (ii)&nbsp;a fee for the distribution or sale of securities pursuant to paragraph (10)&nbsp;hereof,
such fee being in an amount equal to the fee for the execution and delivery of ADSs referred to above which would have been charged as
a result of the deposit of such securities (for purposes of this paragraph (7)&nbsp;treating all such securities as if they were Shares)
but which securities or the net cash proceeds from the sale thereof are instead distributed by the Depositary to Holders entitled thereto,<B>&nbsp;</B>(iii)&nbsp;an
aggregate fee of U.S.$0.05 per ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the
ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against Holders as of the record date
or record dates set by the Depositary during each calendar year and shall be payable at the sole discretion of the Depositary by billing
such Holders or by deducting such charge from one or more cash dividends or other cash distributions), and (iv)&nbsp;a fee for the reimbursement
of such fees, charges and expenses as are incurred by the Depositary and/or any of its agents (including, without limitation, the Custodian
and expenses incurred on behalf of Holders in connection with compliance with foreign exchange control regulations or any law or regulation
relating to foreign investment) in connection with the servicing of the Shares or other Deposited Securities, the sale of securities (including,
without limitation, Deposited Securities), the delivery of Deposited Securities or otherwise in connection with the Depositary&rsquo;s
or its Custodian&rsquo;s compliance with applicable law, rule or regulation (which fees and charges shall be assessed on a proportionate
basis against Holders as of the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary
by billing such Holders or by deducting such charge from one or more cash dividends or other cash distributions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <I>Obligations of the Company</I>. The Company
will pay all other charges and expenses of the Depositary and any agent of the Depositary (except the Custodian) pursuant to agreements
from time to time between the Company and the Depositary, except: (i)&nbsp;stock transfer or other taxes and other governmental charges
(which are payable by Holders or persons depositing Shares); (ii) a transaction fee per cancellation request (including through SWIFT,
telex and facsimile transmission) as disclosed on the &quot;Disclosures&quot; page (or successor page) of www.adr.com (as updated by the
Depositary from time to time, &quot;<B>ADR.com</B>&quot;) and any applicable delivery expenses (which are payable by such persons or Holders);
and (iii) transfer or registration fees for the registration or transfer of Deposited Securities on any applicable register in connection
with the deposit or withdrawal of Deposited Securities (which are payable by persons depositing Shares or Holders withdrawing Deposited
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) All of the above-referenced charges may at any
time and from time to time be changed by agreement between the Company and the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) To facilitate the administration of various depositary
receipt transactions, including disbursement of dividends or other cash distributions and other corporate actions, the Depositary may
engage the foreign exchange desk within JPMorgan Chase Bank, N.A. (the &quot;<B>Bank</B>&quot;) and/or its affiliates in order to enter
into spot foreign exchange transactions to convert foreign currency into U.S. dollars (&quot;<B>FX Transactions</B>&quot;). For certain
currencies, FX Transactions are entered into with the Bank or an affiliate, as the case may be, acting in a principal capacity. For other
currencies, FX Transactions are routed directly to and managed by an unaffiliated local custodian (or other third-party local liquidity
provider), and neither the Bank nor any of its affiliates is a party to such FX Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The foreign exchange rate applied to an FX Transaction
will be either (i) a published benchmark rate, or (ii) a rate determined by a third-party local liquidity provider, in each case plus
or minus a spread, as applicable. The Depositary will disclose which foreign exchange rate and spread, if any, apply to such currency
on the &quot;Disclosures&quot; page (or successor page) of ADR.com. Such applicable foreign exchange rate and spread may (and neither
the Depositary, the Bank nor any of their affiliates is under any obligation to ensure that such rate does not) differ from rates and
spreads at which comparable transactions are entered into with other customers or the range of foreign exchange rates and spreads at which
the Bank or any of its affiliates enters into foreign exchange transactions in the relevant currency pair on the date of the FX Transaction.
Additionally, the timing of execution of an FX Transaction varies according to local market dynamics, which may include regulatory requirements,
market hours and liquidity in the foreign exchange market or other factors. Furthermore, the Bank and its affiliates may manage the associated
risks of their position in the market in a manner they deem appropriate without regard to the impact of such activities on the Company,
the Depositary, Holders or beneficial owners of ADSs. The spread applied does not reflect any gains or losses that may be earned or incurred
by the Bank and its affiliates as a result of risk management or other hedging related activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Notwithstanding the foregoing, to the extent the
Company provides U.S. dollars to the Depositary, neither the Bank nor any of its affiliates will execute an FX Transaction as set forth
herein. In such case, the Depositary will distribute the U.S. dollars received from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Further details relating to the applicable foreign
exchange rate, the applicable spread and the execution of FX Transactions will be provided by the Depositary on ADR.com. The Company,
Holders and beneficial owners of ADSs each acknowledge and agree that the terms applicable to FX Transactions disclosed from time to time
on ADR.com will apply to any FX Transaction executed pursuant to the Deposit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) The right of the Depositary to receive payment
of fees, charges and expenses as provided above shall survive the termination of the Deposit Agreement. As to any Depositary, upon the
resignation or removal of such Depositary, such right shall extend for those fees, charges and expenses incurred prior to the effectiveness
of such resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g) <I>Reimbursement by the Depositary</I>. The Depositary
anticipates reimbursing the Company for certain expenses incurred by the Company that are related to the establishment and maintenance
of the ADR program upon such terms and conditions as the Company and the Depositary may agree from time to time.&nbsp;The Depositary may
make available to the Company a set amount or a portion of the Depositary fees charged in respect of the ADR program or otherwise upon
such terms and conditions as the Company and the Depositary may agree from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(8)&nbsp;<B>Available Information</B>. The Deposit
Agreement, the provisions of or governing Deposited Securities and any written communications from the Company, which are both received
by the Custodian or its nominee as a holder of Deposited Securities and made generally available to the holders of Deposited Securities,
are available for inspection by Holders at the offices of the Depositary and the Custodian and at the Transfer Office, on the website
of the United States Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;), or upon request from the Depositary (which
request may be refused by the Depositary at its discretion). The Depositary will distribute copies of such communications (or English
translations or summaries thereof) to Holders when furnished by the Company. The Company is subject to the periodic reporting requirements
of the Securities Exchange Act of 1934 and accordingly files certain reports with the Commission. Such reports and other information may
be inspected and copied through the Commission&rsquo;s EDGAR system or at public reference facilities maintained by the Commission located
at the date hereof at 100 F Street, NE, Washington, DC 20549.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(9)&nbsp;<B>Execution</B>. This ADR shall not be
valid for any purpose unless executed by the Depositary by the manual or facsimile signature of a duly authorized officer of the Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">JPMORGAN CHASE BANK, N.A., as Depositary</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">By .................................................. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Authorized Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Depositary's office is located at 383 Madison
Avenue, Floor 11, New York, New York 10179.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[FORM OF REVERSE OF ADR]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(10)&nbsp;<B>Distributions on Deposited Securities.</B>&nbsp;Subject
to paragraphs (4) (<I>Certain Limitations to Registration, Transfer etc.</I>) and (5) (<I>Liability of Holder for Taxes, Duties and Other
Charges</I>), to the extent practicable, the Depositary will distribute to each Holder entitled thereto on the record date set by the
Depositary therefor at such Holder&rsquo;s address shown on the ADR Register, in proportion to the number of Deposited Securities (on
which the following distributions on Deposited Securities are received by the Custodian) represented by ADSs evidenced by such Holder&rsquo;s
ADRs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <I>Cash</I>. Any U.S. dollars available to the
Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion
thereof authorized in this paragraph (10) (&ldquo;<B>Cash</B>&rdquo;), on an averaged or other practicable basis, subject to (i)&nbsp;appropriate
adjustments for taxes withheld, (ii)&nbsp;such distribution being impermissible or impracticable with respect to certain Holders, and
(iii)&nbsp;deduction of the Depositary&rsquo;s and/or its agents&rsquo; fees and expenses in (1)&nbsp;converting any foreign currency
to U.S. dollars by sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion
may be made on a reasonable basis, (2)&nbsp;transferring foreign currency or U.S. dollars to the United States by such means as the Depositary
may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3)&nbsp;obtaining any approval or
license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a
reasonable time and (4)&nbsp;making any sale by public or private means in any commercially reasonable manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <I>Shares</I>. (i)&nbsp;Additional ADRs evidencing
whole ADSs representing any Shares available to the Depositary resulting from a dividend or free distribution on Deposited Securities
consisting of Shares (a &ldquo;<B>Share Distribution</B>&rdquo;) and (ii)&nbsp;U.S. dollars available to it resulting from the net proceeds
of sales of Shares received in a Share Distribution, which Shares would give rise to fractional ADSs if additional ADRs were issued therefor,
as in the case of Cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <I>Rights</I>. (i)&nbsp;Warrants or other instruments
in the discretion of the Depositary representing rights to acquire additional ADRs in respect of any rights to subscribe for additional
Shares or rights of any nature available to the Depositary as a result of a distribution on Deposited Securities (&ldquo;<B>Rights</B>&rdquo;),
to the extent that the Company timely furnishes to the Depositary evidence satisfactory to the Depositary that the Depositary may lawfully
distribute the same (the Company has no obligation to so furnish such evidence), or (ii)&nbsp;to the extent the Company does not so furnish
such evidence and sales of Rights are practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Rights
as in the case of Cash, or (iii)&nbsp;to the extent the Company does not so furnish such evidence and such sales cannot practicably be
accomplished by reason of the nontransferability of the Rights, limited markets therefor, their short duration or otherwise, nothing (and
any Rights may lapse).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) <I>Other Distributions</I>. (i)&nbsp;Securities
or property available to the Depositary resulting from any distribution on Deposited Securities other than Cash, Share Distributions and
Rights (&ldquo;<B>Other Distributions</B>&rdquo;), by any means that the Depositary may deem equitable and practicable, or (ii)&nbsp;to
the extent the Depositary deems distribution of such securities or property not to be equitable and practicable, any U.S. dollars available
to the Depositary from the net proceeds of sales of Other Distributions as in the case of Cash. The Depositary reserves the right to utilize
a division, branch or affiliate of JPMorgan Chase Bank, N.A. to direct, manage and/or execute any public and/or private sale of securities
hereunder. Such division, branch and/or affiliate may charge the Depositary a fee in connection with such sales, which fee is considered
an expense of the Depositary contemplated above and/or under paragraph (7) (<I>Charges of Depositary</I>). Any U.S. dollars available
will be distributed by checks drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without
liability and dealt with by the Depositary in accordance with its then current practices. All purchases and sales of securities will be
handled by the Depositary in accordance with its then current policies, which are currently set forth on the &quot;Disclosures&quot; page
(or successor page) of ADR.com, the location and contents of which the Depositary shall be solely responsible for.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(11)&nbsp;<B>Record Dates</B>. The Depositary may,
after consultation with the Company if practicable, fix a record date (which, to the extent applicable, shall be as near as practicable
to any corresponding record date set by the Company) for the determination of the Holders who shall be responsible for the fee assessed
by the Depositary for administration of the ADR program and for any expenses provided for in paragraph (7)&nbsp;hereof as well as for
the determination of the Holders who shall be entitled to receive any distribution on or in respect of Deposited Securities, to give instructions
for the exercise of any voting rights, to receive any notice or to act in respect of other matters and only such Holders shall be so entitled
or obligated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(12)&nbsp;<B>Voting of Deposited Securities</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <I>Notice of Any Meeting or Solicitation</I>.
Subject to the next sentence, as soon as practicable after receipt of notice of any meeting at which the holders of Shares are entitled
to vote, or of solicitation of consents or proxies from holders of Shares or other Deposited Securities, the Depositary shall fix the
ADS record date in accordance with paragraph (11)&nbsp;above in respect of such meeting or solicitation of consent or proxy. 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 days prior to the date of such vote or meeting) and at the Company&rsquo;s
expense and provided no legal prohibitions exist, distribute to Holders a notice stating (i)&nbsp;such information as is contained in
such notice and any solicitation materials, (ii)&nbsp;that each Holder on the record date set by the Depositary therefor will, subject
to any applicable provisions of Cayman Islands law, be entitled to instruct the Depositary as to the exercise of the voting rights, if
any, pertaining to the Deposited Securities represented by the ADSs evidenced by such Holder&rsquo;s ADRs and (iii)&nbsp;the manner in
which such instructions may be given, including instructions to give a discretionary proxy to a person designated by the Company. There
is no guarantee that Holders generally or any Holder in particular will receive the notice described above with sufficient time to enable
such Holder to return any voting instructions to the Depositary in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <I>Voting of Deposited Securities</I>. Upon actual
receipt by the ADR department of the Depositary of instructions of a Holder on such record date in the manner and on or before the time
established by the Depositary for such purpose, the Depositary shall endeavor insofar as practicable and permitted under the provisions
of or governing Deposited Securities to vote or cause to be voted the Deposited Securities represented by the ADSs evidenced by such Holder&rsquo;s
ADRs in accordance with such instructions. The Depositary will not itself exercise any voting discretion in respect of any Deposited Securities.
Notwithstanding anything contained in the Deposit Agreement or any ADR, the Depositary may, to the extent not prohibited by law or regulations,
or by the requirements of the stock exchange on which the ADSs are listed, in lieu of distribution of the materials provided to the Depositary
in connection with any meeting of, or solicitation of consents or proxies from, holders of Deposited Securities, distribute to the Holders
a notice that provides Holders with, or otherwise publicizes to Holders, instructions on how to retrieve such materials or receive such
materials upon request (<I>i.e.</I>, by reference to a website containing the materials for retrieval or a contact for requesting copies
of the materials). Holders are strongly encouraged to forward their voting instructions as soon as possible. Voting instructions will
not be deemed received until such time as the ADR department responsible for proxies and voting has received such instructions notwithstanding
that such instructions may have been physically received by JPMorgan Chase Bank, N.A., as Depositary, prior to such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The Depositary has been advised by the Company that
under the Cayman Islands law and the Memorandum and Articles of Association of the Company, each as in effect as of the date of the Deposit
Agreement, voting at any meeting of shareholders of the Company is by show of hands unless a poll is (before or on the declaration of
the results of the show of hands or on the withdrawal of any other demand for a poll) demanded. 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 received by the Depositary from Holders shall lapse. The Depositary will not demand a poll or
join in demanding a poll, whether or not requested to do so by Holders of ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(13)&nbsp;<B>Changes Affecting Deposited Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) Subject to paragraphs (4) (<I>Certain
Limitations to Registration, Transfer etc.</I>) and (5) (<I>Liability of Holder to Taxes, Duties and Other Charges</I>), the
Depositary may, in its discretion, and shall if reasonably requested by the Company, amend this ADR or distribute additional or
amended ADRs (with or without calling this ADR for exchange) or cash, securities or property on the record date set by the
Depositary therefor to reflect any change in par value,&nbsp;split-up,&nbsp;consolidation, cancellation or other reclassification of
Deposited Securities, any Share Distribution or Other Distribution not distributed to Holders or any cash, securities or property
available to the Depositary in respect of Deposited Securities from (and the Depositary is hereby authorized to surrender any
Deposited Securities to any person and, irrespective of whether such Deposited Securities are surrendered or otherwise cancelled by
operation of law, rule, regulation or otherwise, to sell by public or private sale any property received in connection with) any
recapitalization, reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale of all or substantially all
the assets of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) To the extent the Depositary does not so amend
this ADR or make a distribution to Holders to reflect any of the foregoing, or the net proceeds thereof, whatever cash, securities or
property results from any of the foregoing shall constitute Deposited Securities and each ADS evidenced by this ADR shall automatically
represent its pro rata interest in the Deposited Securities as then constituted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) Promptly upon the occurrence of any of the aforementioned
changes affecting Deposited Securities, the Company shall notify the Depositary in writing of such occurrence and as soon as practicable
after receipt of such notice from the Company, may instruct the Depositary to give notice thereof, at the Company&rsquo;s expense, to
Holders in accordance with the provisions hereof. Upon receipt of such instruction, the Depositary shall give notice to the Holders in
accordance with the terms thereof, as soon as reasonably practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(14)&nbsp;<B>Exoneration</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) The Depositary, the Company, and each of their
respective directors, officers, employees, agents and affiliates and each of them shall: (i) incur or assume no liability (including,
without limitation, to Holders or beneficial owners of ADSs (A) if any present or future law, rule, regulation, fiat, order or decree
of the Cayman Islands, Hong Kong, the People&rsquo;s Republic of China, the United States or any other country or jurisdiction, or of
any governmental or regulatory authority or any securities exchange or market or automated quotation system, the provisions of or governing
any Deposited Securities, any present or future provision of the Company's charter, any act of God, war, terrorism, epidemic, pandemic,
nationalization, expropriation, currency restrictions, work stoppage, strike, civil unrest, revolutions, rebellions, explosions, computer
failure or circumstance beyond its direct and immediate control shall prevent or delay, or shall cause any of them to be subject to any
civil or criminal penalty in connection with, any act which the Deposit Agreement or this ADR provides shall be done or performed by it
or them (including, without limitation, voting pursuant to paragraph (12) hereof), or (B) by reason of any non-performance or delay, caused
as aforesaid, in the performance of any act or things which by the terms of the Deposit Agreement it is provided shall or may be done
or performed or any exercise or failure to exercise any discretion given it in the Deposit Agreement or this ADR (including, without limitation,
any failure to determine that any distribution or action may be lawful or reasonably practicable); (ii) incur or assume no liability (including,
without limitation, to Holders or beneficial owners of ADSs) except to perform its obligations to the extent they are specifically set
forth in this ADR and the Deposit Agreement without gross negligence or willful misconduct and the Depositary shall not be a fiduciary
or have any fiduciary duty to Holders or beneficial owners; (iii) in the case of the Depositary and its agents, be under no obligation
to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities, the ADSs or this ADR; (iv)
in the case of the Company and its agents hereunder be under no obligation to appear in, prosecute or defend any action, suit or other
proceeding in respect of any Deposited Securities, the ADSs or this ADR, which in its opinion may involve it in expense or liability,
unless indemnity satisfactory to it against all expense (including fees and disbursements of counsel) and liability be furnished as often
as may be required; and (v) not be liable (including, without limitation, to Holders or beneficial owners of ADSs) for any action or inaction
by it in reliance upon the advice of or information from any legal counsel, any accountant, any person presenting Shares for deposit,
any Holder, or any other person believed by it to be competent to give such advice or information and/or, in the case of the Depositary,
the Company. The Depositary shall not be liable for the acts or omissions made by, or the insolvency of, any securities depository, clearing
agency or settlement system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) The Depositary shall not be responsible for,
and shall incur no liability in connection with or arising from, the insolvency of any Custodian that is not a branch or affiliate of
JPMorgan Chase Bank, N.A. The Depositary shall not have any liability for the price received in connection with any sale of securities,
the timing thereof or any delay in action or omission to act nor shall it be responsible for any error or delay in action, omission to
act, default or negligence on the part of the party so retained in connection with any such sale or proposed sale. Notwithstanding anything
to the contrary contained in the Deposit Agreement (including the ADRs), subject to the penultimate sentence of this paragraph (14), the
Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, any act or omission to act on
the part of the Custodian except to the extent that any Holder has incurred liability directly as a result of the Custodian having (i)
committed fraud or willful misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in
the provision of custodial services to the Depositary as determined in accordance with the standards prevailing in the jurisdiction in
which the Custodian is located.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) The Depositary, its agents and the Company may
rely and shall be protected in acting upon any written notice, request, direction, instruction or document believed by them to be genuine
and to have been signed, presented or given by the proper party or parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d) The Depositary shall be under no obligation to
inform Holders or beneficial owners of, or any other holders of an interest in any ADSs about the requirements of the laws, rules or regulations
or any changes therein or thereto of any country or jurisdiction or of any governmental or regulatory authority or any securities exchange
or market or automated quotation system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e) The Depositary and its agents will not be responsible
for any failure to carry out any instructions to vote any of the Deposited Securities, for the manner in which any voting instructions
are given or deemed to be given in accordance with paragraph (12) hereof, including instructions to give a discretionary proxy to a person
designated by the Company, for the manner in which any vote is cast, including, without limitation, any vote cast by a person to whom
the Depositary is instructed to grant a discretionary proxy pursuant to paragraph (12) hereof or deemed to have been instructed, or for
the effect of any such vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f) The Depositary may rely upon instructions from
the Company or its counsel in respect of any approval or license required for any currency conversion, transfer or distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g) The Depositary and its agents may own and deal
in any class of securities of the Company and its affiliates and in ADRs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h) Notwithstanding anything to the contrary set
forth in the Deposit Agreement or an ADR, the Depositary and its agents may fully respond to any and all demands or requests for information
maintained by or on its behalf in connection with the Deposit Agreement, any Holder or Holders, any ADR or ADRs or otherwise related hereto
or thereto to the extent such information is requested or required by or pursuant to any lawful authority, including without limitation
laws, rules, regulations, administrative or judicial process, banking, securities or other regulators.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i) None of the Depositary, the Custodian or the
Company, or any of their respective directors, officers, employees, agents or affiliates shall be liable for the failure by any Holder
or beneficial owner to obtain the benefits of credits or refunds of non-U.S. tax paid against such Holder's or beneficial owner's income
tax liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(j) The Depositary is under no obligation to provide
the Holders and beneficial owners of ADSs, or any of them, with any information about the tax status of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(k) None of the Depositary, the Custodian or the
Company, or any of their respective directors, officers, employees, agents and affiliates, shall incur any liability for any tax or tax
consequences that may be incurred by Holders and/or beneficial owners of, or other holders of interests in, ADSs or ADRs on account of
their ownership or disposition of the ADSs or ADRs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(l) The Depositary shall not incur any liability
for the content of any information submitted to it by or on behalf of 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, for the credit-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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(m) Notwithstanding anything herein or in the Deposit
Agreement to the contrary, the Depositary and the Custodian(s) may use third-party delivery services and providers of information regarding
matters such as, but not limited to, pricing, proxy voting, corporate actions, class action litigation and other services in connection
herewith and the Deposit Agreement, and use local agents to provide services such as, but not limited to, attendance at any meetings of
security holders of issuers. Although the Depositary and the Custodian will use reasonable care (and cause their agents to use reasonable
care) in the selection and retention of such third-party providers and local agents, they will not be responsible for any errors or omissions
made by them in providing the relevant information or services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(n) The Depositary shall not be liable for any acts
or omissions made by a successor depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(o) The Company has agreed to indemnify the Depositary
and its agents under certain circumstances and the Depositary has agreed to indemnify the Company under certain circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p) Neither the Company nor the Depositary nor any
of their respective agents shall be liable to Holders or beneficial owners of interests in ADSs for any indirect, special, punitive or
consequential damages (including, without limitation, legal fees and expenses) or lost profits, in each case of any form incurred by any
person or entity, whether or not foreseeable and regardless of the type of action in which such a claim may be brought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(q) No provision of the Deposit Agreement or this
ADR is intended to constitute a waiver or limitation of any rights which Holders or beneficial owners of interests in ADSs may have under
the Securities Act of 1933 or the Securities Exchange Act of 1934, to the extent applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(15)&nbsp;<B>Resignation and Removal of Depositary;
the Custodian</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a) <I>Resignation</I>. The Depositary may resign
as Depositary by written notice of its election so to do so delivered to the Company, such resignation to take effect&nbsp;upon the appointment
of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b) <I>Removal</I>. The Depositary may at any time
be removed by the Company by no less than 60 days prior written notice of such removal, to become effective upon the later of (i)&nbsp;the
60th day after delivery of the notice to the Depositary and (ii)&nbsp;the appointment of a successor depositary and its acceptance of
such appointment as provided in the Deposit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c) <I>The Custodian</I>. The Depositary may appoint
substitute or additional Custodians and the term &ldquo;<B>Custodian</B>&rdquo; refers to each Custodian or all Custodians as the context
requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(16)&nbsp;<B>Amendment</B>. Subject to the last
sentence of paragraph (2) (<I>Withdrawal of Deposited Securities</I>), the ADRs and the Deposit Agreement may be amended by the Company
and the Depositary, provided that any amendment that imposes or increases any fees, charges or expenses on a per ADS basis (other than
stock transfer or other taxes and other governmental charges, transfer or registration fees, a transaction fee per cancellation request
(including through SWIFT, telex or facsimile transmission), applicable delivery expenses or other such fees, charges or expenses), or
that shall otherwise prejudice any substantial existing right of Holders or beneficial owners of interests in ADSs , shall become effective
30 days after notice of such amendment shall have been given to the Holders. Every Holder of an ADR at the time any amendment to the Deposit
Agreement so becomes effective shall be deemed, by continuing to hold such ADR, to consent and agree to such amendment and to be bound
by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the Holder of any ADR to surrender such
ADR and receive the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. Any
amendments or supplements which (i)&nbsp;are reasonably necessary (as agreed by the Company and the Depositary) in order for (a)&nbsp;the
ADSs to be registered on Form&nbsp;F-6&nbsp;under the Securities Act of 1933 or (b)&nbsp;the ADSs or Shares to be traded solely in electronic
book-entry form and (ii)&nbsp;do not in either such case impose or increase any fees or charges to be borne by Holders, shall be deemed
not to prejudice any substantial rights of Holders. Notwithstanding the foregoing, if any governmental body or regulatory body should
adopt new laws, rules or regulations which would require amendment or supplement of the Deposit Agreement or the form of ADR to ensure
compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement and the ADR 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. Notice
of any amendment to the Deposit Agreement or form of ADRs 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 to retrieve or receive the text of such amendment (i.e., upon
retrieval from the Commission&rsquo;s, the Depositary&rsquo;s or the Company&rsquo;s website or upon request from the Depositary).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(17)&nbsp;<B>Termination</B>. The Depositary may,
and shall at the written direction of the Company, terminate the Deposit Agreement and this ADR by mailing notice of such termination
to the Holders at least 30 days prior to the date fixed in such notice for such termination; provided, however, if the Depositary shall
have (i)&nbsp;resigned as Depositary hereunder, notice of such termination by the Depositary shall not be provided to Holders unless a
successor depositary shall not be operating hereunder within 60 days of the date of such resignation, or (ii)&nbsp;been removed as Depositary
hereunder, notice of such termination by the Depositary shall not be provided to Holders unless a successor depositary shall not be operating
hereunder on the 60<SUP>th</SUP>&nbsp;day after the Company&rsquo;s notice of removal was first provided to the Depositary. Notwithstanding
anything to the contrary herein, the Depositary may terminate the Deposit Agreement (a) without notice to the Company, but subject to
giving 30 days&rsquo; notice to the Holders, under the following circumstances: (i)&nbsp;in the event of the Company&rsquo;s bankruptcy
or insolvency, (ii)&nbsp;if the Company&rsquo;s shares are&nbsp;de-listed,&nbsp;(iii)&nbsp;if the Company effects (or will effect) a redemption
of all or substantially all of the Deposited Securities, or a cash or share distribution representing a return of all or substantially
all of the value of the Deposited Securities, or (iv)&nbsp;there occurs a merger, consolidation, sale of assets or other transaction as
a result of which securities or other property are delivered in exchange for or in lieu of Deposited Securities and (b) immediately without
prior notice to the Company, any Holder or beneficial owner of ADSs or any other person if required by any law, rule or regulation or
any governmental authority or body, or the Depositary would be subject to liability under or pursuant to any law, rule or regulation,
or by any governmental authority or body, in each case as determined by the Depositary in its reasonable discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">After the date so fixed for termination, (a)&nbsp;all
Direct Registration ADRs shall cease to be eligible for the Direct Registration System and shall be considered ADRs issued on the ADR
Register and (b)&nbsp;the Depositary shall use its reasonable efforts to ensure that the ADSs cease to be DTC eligible so that neither
DTC nor any of its nominees shall thereafter be a Holder. At such time as the ADSs cease to be DTC eligible and/or neither DTC nor any
of its nominees is a Holder, the Depositary shall (a)&nbsp;instruct its Custodian to deliver all Deposited Securities to the Company along
with a general stock power that refers to the names set forth on the ADR Register and (b)&nbsp;provide the Company with a copy of the
ADR Register (which copy may be sent by email or by any means permitted under the notice provisions of the Deposit Agreement). Upon receipt
of such Deposited Securities and the ADR Register, the Company shall use its best efforts to issue to each Holder a Share certificate
representing the Shares represented by the ADSs reflected on the ADR Register in such Holder&rsquo;s name and to deliver such Share certificate
to the Holder at the address set forth on the ADR Register. After providing such instruction to the Custodian and delivering a copy of
the ADR Register to the Company, the Depositary and its agents will perform no further acts under the Deposit Agreement and this ADR and
shall cease to have any obligations under the Deposit Agreement and/or the ADRs. After the Company receives the copy of the ADR Register
and the Deposited Securities, the Company shall be discharged from all obligations under the Deposit Agreement except (i)&nbsp;to distribute
the Shares to the Holders entitled thereto and (ii)&nbsp;for its obligations to the Depositary and its agents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(18)&nbsp;<B>Appointment.</B>&nbsp;Each Holder
and each owner and person holding an interest in ADSs or ADRs, upon acceptance of any ADSs or ADRs (or any interest therein) issued in
accordance with the terms and conditions of the Deposit Agreement shall be deemed for all purposes to (a)&nbsp;be a party to and bound
by the terms of the Deposit Agreement and the applicable ADR(s), (b)&nbsp;appoint the Depositary its&nbsp;attorney-in-fact,&nbsp;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 and (c) acknowledge and agree that (i) nothing
in the Deposit Agreement or any ADR shall give rise to a partnership or joint venture among the parties thereto, nor establish a fiduciary
or similar relationship among such parties, (ii) the Depositary, its divisions, branches and affiliates, and their respective agents,
may from time to time be in the possession of non-public information about the Company, Holders, beneficial owners of ADSs and/or their
respective affiliates, (iii) the Depositary and its divisions, branches and affiliates may at any time have multiple banking relationships
with the Company, Holders, beneficial owners of ADSs and/or the affiliates of any of them, (iv) the Depositary and its divisions, branches
and affiliates may, from time to time, be engaged in transactions in which parties adverse to the Company or the Holders or beneficial
owners of ADSs and/or their respective affiliates may have interests, (v) nothing contained in the Deposit Agreement or any ADR(s) shall
(A) preclude the Depositary or any of its divisions, branches or affiliates from engaging in any such transactions or establishing or
maintaining any such relationships, or (B) obligate the Depositary or any of its divisions, branches or affiliates to disclose any such
transactions or relationships or to account for any profit made or payment received in any such transactions or relationships, (vi) the
Depositary shall not be deemed to have knowledge of any information held by any branch, division or affiliate of the Depositary and (vii)
notice to a Holder shall be deemed, for all purposes of the Deposit Agreement and this ADR, to constitute notice to any and all beneficial
owners of the ADSs evidenced by such Holder's ADRs. For all purposes under the Deposit Agreement and this ADR, the Holder hereof shall
be deemed to have all requisite authority to act on behalf of any and all beneficial owners of the ADSs evidenced by this ADR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(19)&nbsp;<B>Waiver</B>. EACH PARTY TO THIS DEPOSIT
AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER OF, AND/OR HOLDER OF INTERESTS IN, ADSS OR 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, BASED ON OR RELATING IN ANY WAY 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). No provision of this Deposit Agreement or any ADR
is intended to constitute a waiver or limitation of any rights which a Holder or any beneficial owner may have under the Securities Act
of 1933 or the Securities Exchange Act of 1934, to the extent applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(20)&nbsp;<B>Jurisdiction.&nbsp;</B>By holding
an ADS or an interest therein, Holders and owners of interests in ADSs 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 ADSs or the ADRs or the transactions
contemplated thereby or hereby, may only be instituted in a state or federal court in New York, New York, and by holding an ADS 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. Notwithstanding the above
or anything in the Deposit Agreement to the contrary, in the Deposit Agreement each of the parties thereto (i.e. the Company, the Depositary
and all Holders from time to time of ADRs issued thereunder (and any persons owning or holding interests in ADSs)) have agreed that: (i)&nbsp;the
Depositary may, in its sole discretion, elect to institute any dispute, suit, action, controversy, claim or proceeding directly or indirectly
based on, arising out of or relating to the Deposit Agreement, the ADSs or the ADRs or the transactions contemplated thereby or hereby,
including without limitation any question regarding its or their existence, validity, interpretation, performance or termination (a &ldquo;<B>Dispute</B>&rdquo;)
against any other party or parties (including, without limitation, Disputes, suits, actions or proceedings brought against Holders and
owners of interests in ADSs), by having the Dispute referred to and finally resolved by an arbitration conducted under the terms set out
below, and (ii)&nbsp;the Depositary may in its sole discretion require, by written notice to the relevant party or parties, that any Dispute,
suit, action, controversy, claim or proceeding brought by any party or parties (including, without limitation, Disputes, suits, actions
or proceedings brought by Holders and owners of interests in ADSs) against the Depositary shall be referred to and finally settled by
an arbitration conducted under the terms set out in the Deposit Agreement: provided however, notwithstanding the Depositary&rsquo;s written
notice under this (ii), to the extent there are specific federal securities law violation aspects to any claims against the Company and/or
the Depositary brought by any Holder, the federal securities law violation aspects of such claims brought by a Holder against the Company
and/or the Depositary may, at the option of such Holder, remain in state or federal court in New York, New York and all other aspects,
claims, Disputes, legal suits, actions and/or proceedings brought by such Holder against the Company and/or the Depositary, including
those brought along with, or in addition to, federal securities law violation claims, would be referred to arbitration in accordance herewith.
Any such arbitration shall at the Depositary&rsquo;s election be conducted either in New York, New York in accordance with the Commercial
Arbitration Rules of the American Arbitration Association or in Hong Kong following the arbitration rules of the United Nations Commission
on International Trade Law (UNCITRAL) with the Hong Kong International Arbitration Centre serving as the appointing authority, and the
language of any such arbitration shall be English, in each case as provided in the Deposit Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">A-20</P>

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<TYPE>EX-99.(D)
<SEQUENCE>3
<FILENAME>e618595_ex99-d.htm
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Ziegler, Ziegler &amp;
Associates LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;Counselors at Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;570 Lexington Avenue,
Suite 2405</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;New York, New York
10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;(212) 319-7600</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;Telecopier (212) 319-7605</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;May 5, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">JPMorgan Chase Bank, N.A., as Depositary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">383 Madison Avenue, Floor 11</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10179</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;American Depositary
Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;evidenced by American
Depositary Receipts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;for deposited ordinary
shares of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>NaaS Technology Inc.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">Referring to the Registration
Statement on Form F-6 (the &ldquo;Registration Statement&rdquo;) relating to the above-entitled American Depositary Shares (&quot;ADSs&quot;)
evidenced by American Depositary Receipts (&quot;ADRs&quot;), each ADS representing ten (10) Ordinary Shares, par value US$0.01 per share,
of NaaS Technology Inc. (the &quot;Company&quot;), a corporation organized under the laws of the Cayman Islands. Capitalized terms used
herein that are not herein defined shall have the meanings assigned to them in the Deposit Agreement (as amended, the &quot;Deposit Agreement&quot;)
appearing, or incorporated by reference, in exhibit (a)(1) and (a)(2) to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">In connection with this opinion,
we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents as we considered necessary
or appropriate to enable us to render this opinion, including but not limited to the Registration Statement, the Deposit Agreement and
the Form of ADR included as Exhibit A to the Deposit Agreement, as well as such other corporate records, certificates and instruments
as we have deemed necessary or appropriate for purposes of rendering the opinions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">In rendering the opinions
set forth herein, we have assumed (i) the Deposit Agreement, on signing, was duly authorized, executed and delivered by the Company and
constitutes a valid and legally binding obligation of the Company enforceable against it in accordance with its terms, (ii) that at the
time any ADSs are issued, (a) the Registration Statement will have been declared effective by the United States Securities and Exchange
Commission and remain effective, (b) the relevant Deposited Securities will have been duly authorized, legally and validly issued, will
be fully paid and non-assessable, will have been duly deposited with a Custodian under and in accordance with all applicable laws and
regulations, and will constitute &quot;Shares&quot; within the meaning of such term under the Deposit Agreement, and (c) the Deposit Agreement
will not have been amended from the version appearing, or incorporated by reference, in the Registration Statement and the ADRs will conform
to the form thereof attached to such version of the Deposit Agreement; (iii) that the choice of New York law contained in the Deposit
Agreement is legal and valid under the laws of the Cayman Islands, (iv) that 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, (v) that the Registration Statement
was executed by all parties thereto in the manner required by the instructions to Form F-6; (vi) the genuineness and authenticity of all
signatures, including electronic signatures, on original documents and the legal capacity, competency and authority of all such signatories;
(vii) that photocopy, electronic, conformed, facsimile and other copies submitted to us of original documents conform to the original
documents, and that all such original documents were authentic and complete; (viii) that each party thereto will comply with the Deposit
Agreement; and (ix) that the rights and remedies set forth in the Deposit Agreement will be exercised reasonably and in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">Based upon and subject to
the foregoing, we are of the opinion that the ADSs covered by the Registration Statement, when evidenced by ADRs that are duly executed
and delivered by the Depositary and issued in accordance with the terms of the Deposit Agreement and the Registration Statement, will
be legally issued and will entitle the registered holders thereof to the rights specified in the Deposit Agreement and those ADRs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">The foregoing opinion is limited
to the internal laws of the State of New York as in effect on the date of this letter, and we are expressing no opinion as to the applicability
of the laws of any other jurisdiction or the effect of any such laws on the foregoing opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">This opinion letter deals
only with the specified legal issues expressly addressed herein, and you should not infer any opinion that is not explicitly addressed
herein from any matter stated in this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">Nothing contained herein or
in any document referred to herein is intended by this firm to be used, and the addressee hereof cannot use anything contained herein
or in any document referred to herein, as &ldquo;tax advice&rdquo; (within the meaning given to such term by the U.S. Internal Revenue
Service (&ldquo;IRS&rdquo;) in IRS Circular 230 and any related interpretative advice issued by the IRS in respect of IRS Circular 230
prior to the date hereof, and hereinafter used within such meaning and interpretative advice). Without admitting that anything contained
herein or in any document referred to herein constitutes &ldquo;tax advice&rdquo; for any purpose, notice is hereby given that, to the
extent anything contained herein or in any document referred to herein constitutes, or is or may be interpreted by any court, by the IRS
or by any other administrative body to constitute, &ldquo;tax advice,&rdquo; such &ldquo;tax advice&rdquo; is not intended or written
to be used, and cannot be used, for the purpose of (i)&nbsp;avoiding penalties under the U.S. Internal Revenue Code, or (ii)&nbsp;promoting,
marketing or recommending to any party any transaction or matter addressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">We hereby consent to the use
of this opinion as Exhibit d of the above-mentioned Registration Statement. In giving such consent, we do not admit thereby that we are
within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended and the rules and regulations
thereunder. This opinion may not otherwise be disclosed to or relied upon by anyone else or used for any other purpose or quoted or referred
to or made public in any way without our express prior written consent. This opinion is rendered to you as of the date hereof and we assume
no obligation to advise you or any other person hereafter with regard to any change after the date hereof in the circumstances or the
law that may bear on the matters set forth herein even though the change may affect the legal analysis or a legal conclusion or other
matters in this opinion letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.9in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

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    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">/s/
Ziegler, Ziegler &amp; Associates LLP</P>
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<TYPE>EX-99.(E)
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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Certification under Rule 466</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The depositary, JPMorgan Chase
Bank, N.A. represents and certifies the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(1) That it previously
had filed a registration statement on Form F-6 (NaaS Technology Inc., 333-225443) that the Commission declared effective, with terms of
deposit identical to the terms of deposit of this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(2) That its ability
to designate the date and time of effectiveness under Rule 466 has not been suspended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JPMORGAN CHASE BANK, N.A., as Depositary</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify; width: 6%">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify; width: 35%">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/Gregory
A. Levendis&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gregory A. Levendis</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive
Director</FONT></TD>
    </TR>
  </TABLE>

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