ARTICLES OF ASSOCIATION

RNS Number : 1215X

Air China Ld

31 December 2021

The English translation of the articles of association of Air China Limited (the "Articles") is for reference only. In the event of discrepancy between the English translation and the Chinese version of the Articles, the Chinese version shall prevail.

ARTICLES OF ASSOCIATION OF

AIR CHINA LIMITED

Adopted by the first extraordinary general meeting on 30 September 2004 Approved by the State-owned Assets Supervision and Administration Commission of the State Council on 12 October 2004

Adopted by the 2004 annual shareholder's general meeting on 30 May 2005 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 14 March 2006

Adopted by the 2006 first extraordinary general meeting on 28 March 2006 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 5 June 2006

Adopted by the 2005 annual shareholder's general meeting on 12 June 2006 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 28 December 2006

Adopted by the 2006 first extraordinary general meeting on 28 March 2006 Adopted by the 2006 third extraordinary general meeting on 28 December 2006 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 1 June 2007

Adopted by the 2006 annual shareholders' general meeting on 30 May 2007 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 7 August 2007

Adopted by the 2007 annual shareholders' general meeting on 30 May 2008 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 4 March 2009

Adopted by the 2008 annual shareholders' general meeting on 10 June 2009 Approved by the State-Owned Assets Supervision and Administration Commission of the State Council on 19 October 2009

Adopted by the 2010 first extraordinary general meeting on 29 April 2010 Approved by the State-Owned Assets Supervision and

Administration Commission of the State Council on 26 January 2011

Adopted by the 2012 second extraordinary general meeting on 26 June 2012 Adopted by the 2012 third extraordinary general meeting on 20 December 2012 Approved by the State-Owned Assets Supervision and

Administration Commission of the State Council on 3 May 2013

Adopted by the 2015 first extraordinary general meeting on 22 December 2015

Adopted by the 2016 first extraordinary general meeting on 26 January 2016

Adopted by the 2017 first extraordinary general meeting on 23 January 2017

Adopted by the 2017 second extraordinary general meeting on 30 March 2017

Adopted by the 2017 third extraordinary general meeting on 27 October 2017

Adopted by the 2018 first extraordinary general meeting on 19 October 2018

Adopted by the 2020 annual shareholders' general meeting on 25 May 2021

Adopted by the 2021 second extraordinary general meeting on 30 December 2021

Contents

CHAPTER1	:	GENERALPROVISIONS ...............................	1
CHAPTER2	:	THECOMPANY'SOBJECTIVESANDSCOPEOFBUSINESS ... .	3
CHAPTER3	:	SHARESANDREGISTEREDCAPITAL ....................	4
CHAPTER4	:	REDUCTIONOFCAPITALANDREPURCHASEOFSHARES ....	8
CHAPTER5	:	FINANCIALASSISTANCEFORTHEACQUISITIONOFSHARES	12
CHAPTER6	:	SHARECERTIFICATESANDREGISTEROFSHAREHOLDERS ..	14
CHAPTER7	:	SHAREHOLDERS'RIGHTSANDOBLIGATIONS .............	20
CHAPTER8	:	SHAREHOLDERS'GENERALMEETINGS . .. ... .. . .. . .. . .. .	25
CHAPTER9	:	SPECIALPROCEDURESFORVOTINGBYACLASSOF SHAREHOLDERS ...................................	40
CHAPTER10	:	THEPARTYCOMMITTEE .............................	43
CHAPTER11	:	BOARDOFDIRECTORS ...............................	45
CHAPTER12	:	INDEPENDENTDIRECTORS ............................	56
CHAPTER13	:	SECRETARYOFTHEBOARDOFDIRECTORS ..............	61
CHAPTER14	:	PRESIDENT ........................................	62
CHAPTER15	:	SUPERVISORYCOMMITTEE ...........................	64
CHAPTER16	:	THEQUALIFICATIONSANDDUTIESOFTHEDIRECTORS,SUPERVISORS,PRESIDENT,VICEPRESIDENTSAND OTHERSENIOROFFICERSOFTHECOMPANY ...........	68
CHAPTER17	:	FINANCIALANDACCOUNTINGSYSTEMS,PROFIT DISTRIBUTIONANDAUDIT ..........................	77
CHAPTER18	:	APPOINTMENTOFACCOUNTANCYFIRM .................	84
CHAPTER19	:	MERGERANDDEMERGEROFTHECOMPANY ............	87
CHAPTER20	:	DISSOLUTIONANDLIQUIDATION .......................	89
CHAPTER21	:	PROCEDURESFORAMENDMENTOFTHECOMPANY'S ARTICLESOFASSOCIATION .........................	91
CHAPTER22	:	NOTICESANDPUBLICANNOUNCEMENTS ................	93
CHAPTER23	:	DISPUTERESOLUTION ...............................	94
CHAPTER24	:	SUPPLEMENTARY ...................................	95

Notes: For the purpose of the marginal notes contained in the Articles of Association, Co Law means the Company Law amended at the sixth session of the Standing Committee of the 13th National People's Congress for the fourth time on 26 October 2018 and came into force on 27 October 2018; the Securities Law means the Securities Law amended at the fifteenth session of the Standing Committee of the 13th National People's Congress for the second time on 28 December 2019 and came into force on 1 March 2020; MP means the Mandatory Provisions in the Articles of Association of Companies Listed Overseas (Zheng Wei Fa [1994] No. 21) jointly promulgated by the former State Securities Commission and the former State Restructuring Commission (SRC); LR means the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited; Hong Kong Clearing House Advices means the Advices of Hong Kong Clearing House promulgated by Hong Kong Securities Clearing Company Limited; Zheng Jian Hai Han means the Letter of Opinion on the Supplementary Amendment to Articles of Association of Companies Listed in Hong Kong promulgated by the Overseas Listing Division of the CSRC and the Production System Department of the State Commission for Restructuring the Economic System (Zheng Jian Hai Han [1995] No. 1); Opinion means the Opinion on Further Promoting the Standardized Operations and Deepening the Reform of Overseas Listed Companies (Guo Jing Mao Qi Gai [1999] No. 230) jointly promulgated by State Economic and Trade Commission and China Securities Regulatory Commission; and Guidance means the Guidance on the Articles of Association of Listed Companies (CSRC Announcement [2016] No. 23); CG Standards mean the Standards on Corporate Governance for Listed Companies (Zheng Jian Fa [2002] No. 1); GM Rules means Rules Governing Shareholders' General Meeting of Listed Companies (CSRC Announcement [2016] No. 22); Public Shareholders means Certain Provisions Concerning Strengthening the Protection of the Interests of Public Shareholders (Zheng Jian Fa [2004] No. 118); Guiding Advice means the Guiding Advice on Establishing Independent Directorship in Listed Companies (Zheng Jian Fa [2001] No. 102); Security Notice means the Notice Regulating the Provision of Security by Listed Companies to Third Parties (Zheng Jian Fa [2005] No. 120); Revising Certain Provisions on Cash Dividends means the Decision on Revising Certain Provisions on Cash Dividends by Listed Companies (CSRC Decree No. 57); Notice Regarding Cash Dividends Distribution means Notice Regarding Further Implementation of Cash Dividends Distribution of Listed Companies (Zheng Jian Fa [2012] No. 37); Regulatory Guidance No. 3 means Regulatory Guidance No. 3 of Listed Companies - Cash Dividends Distribution of Listed Companies (CSRC Announcement [2013] No., all of which are promulgated by the China Securities Regulatory Commission; and Notice of Accelerating the Inclusion of General Provisions into the Articles of Association of Central Level State-Owned Enterprises for Party Building means the document (Guo Zi Dang Wei Dang Jian [2017] No. 1) issued by the Party Committee of State-owned Assets Supervision and Administration Commission of the State Council on 3 January 2017.

ARTICLES OF ASSOCIATION OF AIR CHINA LIMITED

CHAPTER 1 : GENERAL PROVISIONS

Article1	AirChinaLimited(the"Company")isajointstocklimitedcompanyestablishedinaccordancewiththeCompanyLawofthePeople'sRepublicofChina(the"CompanyLaw"),theStateCouncil'sSpecialRegulationsRegardingtheIssueofSharesOverseasandtheListingofSharesOverseasbyCompaniesLimitedbyShares(the"SpecialRegulations")andotherrelevantlawsandregulationsoftheState.
	TheCompany wasestablished by way ofpromotionwiththe approvalofthe State-owned Assets Supervision and Administration Commission of theStateCouncilon30September2004,asevidencedbytheapprovaldocument Guo Zi Gai Ge [2004] No. 872. It was registered with and hasobtainedabusinesslicencefromtheStateAdministrationforIndustry&CommerceofthePeople'sRepublicofChina.
	ThepromotersoftheCompanyare:ChinaNationalAviationHoldingCorporationLimitedandChinaNationalAviationCorporation(Group)Limited(registeredinHongKongSpecialAdministrationRegion).
Article2	TheCompany'sregisteredChinesename: 中 TheCompany'sEnglishname: AIRCHINALIMITEDTheCompany'sabbreviatedChinesename: 中 TheCompany'sabbreviatedEnglishname: AIRCHINA
Article3	TheCompany'saddress:1stFloor-9thFloor101,Building1,30TianzhuRoad,ShunyiDistrict,Beijing,China.
Article4	TheCompany'slegalrepresentativeistheChairmanoftheboardofdirectorsoftheCompany.
Article5	TheCompanyisajointstocklimitedcompanywhichhasperpetualexistence.
	Theliabilityofashareholderislimitedtothevalueofthesharesheldbyhim,whiletheCompanyassumesliabilitiestotheextentofitsentireassets.
	The Company is an independent corporate legal person, governed by, andexistingundertheprotectionof,thelawsandregulationsofthePeople'sRepublicofChina.

Article6	InaccordancewiththeprovisionsoftheCompanyLaw,theSpecialRegulationsandtheMandatoryProvisionsforArticlesofAssociationofCompanies Listing Overseas (the "Mandatory Provisions"), the Guidance ontheArticlesofAssociationofListedCompanies(the"Guidance"),theStandardsonCorporateGovernanceforListedCompanies(the"CGStandards")andotherPRClawsandadministrativeregulationsanddepartmentalrules,theCompanyamendedtheoriginalArticlesofAssociationoftheCompany(the"OriginalArticlesofAssociation")andadoptedtheseArticlesofAssociation(the"ArticlesofAssociation"or"theseArticlesofAssociation").
	TheseArticlesofAssociationshalltakeeffectafterbeingadoptedbyaspecialresolutionattheCompany'sgeneralmeetinganduponapprovalofthe companies approving department authorized by the State Council. AftertheseArticlesofAssociationcomeintoeffect,theOriginalArticlesofAssociationshallbesupersededbytheseArticlesofAssociation.
Article7	From thedate onwhichthe Articles ofAssociationcomeintoeffect,theArticlesofAssociationconstitutethelegallybindingdocumentregulatingtheCompany'sorganisationandactivities,andtherightsandobligationsbetweentheCompanyandeachshareholderandamongtheshareholders.
Article8	TheArticlesofAssociationarebindingontheCompanyanditsshareholders,membersofthePartyCommittee,directors,supervisors,president,vicepresidentsandotherseniorofficers;allofwhommay,accordingtotheCompany'sArticlesofAssociation,asserttheirrightsinrespectoftheaffairsoftheCompany.
	SubjecttoArticle23oftheseArticlesofAssociation,ashareholdermaytakeactionagainsttheCompanypursuanttotheCompany'sArticlesofAssociation. The Company may take action against a shareholder, directors,supervisors,president,vicepresidentsandotherseniorofficersoftheCompany pursuant to the Company's Articles of Association. A shareholdermayalsotakeactionagainstanothershareholder,andmaytakeactionagainst the directors, supervisors, president, vice presidents and other seniorofficersoftheCompanypursuanttotheCompany'sArticlesofAssociation.
	Theactionsreferredtointheprecedingparagraphincludecourtproceedingsandarbitrationproceedings.
	The"otherseniorofficers"referredtointheseArticlesofAssociationmeanthe board secretary, chief accountant, chief pilot, general legal counsel andotherseniorofficersappointedbytheboardofdirectorsoftheCompany.

Article9	TheCompanymayinvestinotherenterprises;providedthatunlessotherwiseprovidedbylaw,theCompanyshallnotactasacapitalcontributor which assumes joint and several liabilities of the enterprises itinvestedin.
Article10	SubjecttocompliancewithPRClawsandregulations,theCompanyshallhave the right to raise funds or to obtain loans, including (but not limited to)issuingcompanybonds,andhavetherighttochargeorpledgeitsassets.
Article11	AccordingtotheConstitutionoftheCommunistPartyofChina,theCompanyshallestablishanorganizationoftheCommunistPartyofChinatocarryouttheactivitiesoftheParty,establishaworkingorganfortheParty,allocatesufficientandcompetentpersonneltohandlePartyaffairsandprovidesufficientfundstooperatethePartyorganization.
CHAPTER2:THECOMPANY'SOBJECTIVESANDSCOPEOFBUSINESS
Article12	TheCompany'sobjectivesare:tomaximiseShareholders'interestsbyprovidingsafe,fast,accurate,economical,convenientandsatisfactoryairpackageandcargotransportationservicesthroughcustomer-oriented,marketdrivenoperationswiththeendofadvancedcommunicationstechnologies,anddeveloptelecommunicationsandinformationbusinesses.
Article13	The Company's scope of business shall be consistent with and subject to thescopeofbusinessapprovedbytheauthorityresponsiblefortheregistrationoftheCompany.
	TheCompany'sscopeofbusinessincludes:Internationalanddomesticscheduledandunscheduledairpassenger,aircargo,mailandluggagetransportation;domesticandinternationalbusinessaviationservices;managementandadministrationofaircraft,aircraftmaintenance,repairandoverhaulservices,businessagencyamongairlinescompanies;andgroundservices,airexpressservice(otherthanmailsandobjectsofthesamenatureasmails)relatedtothemainbusiness;on-boarddutyfreeitems,on-boardretailofgoodsandunderwritingtheaviationaccidentinsurance;importandexportbusinesses;hotelmanagement;undertakingexhibitions; conference services; property management; design, production,agencyandpublishofadvertisement;technologytraining;leaseofself-ownedproperty;rentalofmachineryandequipment;accommodation;cateringservices;salesofhandicraftsandsouvenirs;wholesaleofagriculture,forestry,animalhusbandryandfisheryproducts,wholesaleof

	food,beveragesandtobaccoproducts,wholesaleoftextiles,clothingandhouseholdgoods,wholesaleofculture,sportinggoodsandequipment,wholesaleofmineralproducts,buildingmaterialsandchemicalproducts,wholesaleofmachineryandequipment,hardwareandelectronicproducts,general retail, special retail of food, beverage and tobacco products, specialretail of textiles, clothing and daily necessities, special retail of cultural andsportinggoodsandequipment,salesofautomobiles,motorcycles,sparepartsandfuelsandothertypesofenergyresources,specialretailofhouseholdappliancesandelectronics,specialretailofhardware,furnitureand interior decoration materials, and Internet retailing. (Catering services,accommodationandotherprojectssubjecttoapprovalinaccordancewiththelawshallbeoperatedwiththeapprovalofrelevantauthoritiestotheextentauthorizedbytheapproval.)
Article14	Based on its business development needs and upon approval of the relevantgovernmental authorities, the Company may adjust its scope of business andmannerofoperationfromtimetotime,andmayestablishbranchorganisationsand/orrepresentativeoffices(irrespectiveofwhethercontrolledorownedbyit)inthePRCoroverseas.
CHAPTER3:SHARESANDREGISTEREDCAPITAL
Article15	There shall, at all times, be ordinary shares in the Company. Subject to theapprovalofthecompaniesapprovingdepartmentauthorizedbytheStateCouncil, the Company may, according to its requirements, create differentclassesofshares.
Article16	ThesharesissuedbytheCompanyshalleachhaveaparvalueofRenminbione(1.00)yuan.
	"Renminbi"referredtointhepreviousparagraphmeansthelegalcurrencyofthePRC.
Article17	Subject to the approval of the authority in charge of securities of the StateCouncil, the Company may issue shares to Domestic Investors and ForeignInvestors.
	"ForeignInvestors"referredtointhepreviousparagraphmeanthoseinvestors who subscribe for the shares issued by the Company and who arelocated in foreign countries and in the regions of Hong Kong, Macau andTaiwan. "Domestic Investors" mean those investorswho subscribe for thesharesissuedbytheCompanyandwhoarelocatedwithintheterritoryofthePRC.

Article18	Shares which the Company issues to Domestic Investors for subscription inRenminbishallbereferredtoas"DomesticShares".ShareswhichtheCompanyissuestoForeignInvestorsforsubscriptioninforeigncurrenciesshallbereferredtoas"ForeignShares".ForeignShareswhicharelistedoverseasarecalled"Overseas-ListedForeignShares".BothholdersofDomesticSharesandholdersofForeignSharesareholdersofordinaryshares,andhavethesameobligationsandrights.
	"Foreigncurrencies"meansthelegalcurrenciesofcountriesoroutsidethePRCwhicharerecognisedbytheforeignexchangeauthorityoftheStateandwhichcanbeusedtopaythesharepricetotheCompany.
Article19	ASharesareordinarysharesinRenminbithathavebeenadmittedforlistingondomesticstockexchanges.HSharesaresharesthathavebeenadmittedforlistingonTheStockExchangeofHongKongLimited(the"StockExchange").
	TheASharesoftheCompanyshallbecentralizedandheldincustodybytheShanghaiBranchoftheChinaSecuritiesDepositoryandClearingCorporation Limited. The Overseas-Listed Foreign Shares of the CompanyshallbeheldincustodybyHongKongSecuritiesClearingCompanyLimited.
Article20	Upontheapprovalofthecompaniesapprovingdepartmentauthorizedbythe State Council, the Company issued 6,500,000,000 ordinary shares to thepromoters at the time when the Company was established. At the time ofestablishment,thecapitalcontributionofthepromotersoftheCompanywasasfollows:

Name of Promoters

Numberof

SharesSubscribed

MethodofCapital Contribution

DateofCapital Contribution

ChinaNational AviationHolding CorporationLimited

5,054,276,915

Acapitalcontributionof RMB560,782,100was made incashandacontributionofRMB6,451,765,800was

madeinformoftheassets andliabilityofitssubsidiariesand thoserelating to its principalpassengerandcargo

businesses

9September2004

Name of Promoters

Numberof

SharesSubscribed

MethodofCapital Contribution

DateofCapital Contribution

ChinaNational Aviation Corporation

(Group)Limited

1,445,723,085

Acapitalcontributionof RMB2,005,866,000was

madeinformofequity

interest

9September2004

Article21	The Company shall issue additional 2,933,210,909 ordinary shares after itsincorporation,andthepromotersoftheCompanyshallsell293,321,091ordinaryshares,allofwhichareHShares.
	The sharecapitalstructure of the Companyafterthe issueandsale referredto in the previous paragraph shall be as follows: the Company has a total of9,433,210,909ordinarysharesinissue,ofwhichChinaNationalAviationHoldingCorporationLimitedholds4,826,195,989DomesticShares,representingapproximately51.16%oftheCompany'stotalsharecapital;China National Aviation Corporation (Group) Limited holds 1,380,482,920Foreign Shares, representing approximately 14.64% of the Company's totalsharecapital;otherholdersoftheHShareshold3,226,532,000shares,representingapproximately34.20%oftheCompany'stotalsharecapital.
	UponcompletionoftheofferingoftheHSharessetforthaboveandsubjectto the approval in form of a special resolution adopted at the shareholders'generalmeeting,thegeneralmeetingforholdersofthedomesticsharesandthegeneralmeetingforholdersoftheforeignshares,theCompanyhasissued1,639,000,000Asharesin2006.ChinaNationalAviationHoldingCorporationLimited,ashareholderoftheCompany,alsoincreaseditsshareholdingintheCompanytoatotalamountof122,870,578sharespursuanttoitsundertakingsmadetoChinaSecuritiesRegulatoryCommission(the"CSRC").ThesharecapitalstructureoftheCompanyafter the said capital increase and the said increase in shareholding of theshareholdershallbeasfollows:
	theCompanyhasatotalof11,072,210,909ordinarysharesinissue,ofwhichChinaNationalAviationHoldingCorporationLimitedholds4,949,066,567AShares,representingapproximately44.70%oftheCompany'stotalsharecapital;ChinaNationalAviationCorporation(Group)Limitedholds1,380,482,920AShares,representingapproximately12.47%of theCompany'stotalsharecapital;other holdersofA Shares hold 1,516,129,422shares,representingapproximately 13.69%oftheCompany'stotalsharecapital;holdersofHShareshold3,226,532,000shares, representingapproximately29.14%oftheCompany'stotalsharecapital.

	Upon the completion of the issuance of A shares and subject to the approvalafterverificationbycompetentexaminationandapprovaldepartmentsauthorized by the State Council, the Company has issued 1,179,151,364 HSharestoCathayPacificAirwaysLimited,ashareholderoftheCompany,in2006.
	UponthecompletionofthesaidadditionalissuanceofHShares,asapprovedbytheapprovingauthorityauthorisedbytheStateCouncil,theCompanyhasissued483,592,400newASharesonanon-publicissuebasisand157,000,000newHSharestoChinaNationalAviationCorporation(Group)Limited,ashareholderoftheCompany,onanon-publicissuebasisintheyearof2010.
	Upon the completion of the aforesaid non-public issue of A Shares and HShares,asapprovedbytheapprovingauthorityauthorisedbytheStateCouncil,theCompanyhasissued192,796,331newASharestoChinaNationalAviationHoldingCorporationLimited,ashareholderoftheCompany,onanon-publicissuebasisintheyearof2013.
	Uponthecompletionoftheaforesaidnon-publicissueofAShares,asapprovedbytheapprovingauthorityauthorisedbytheStateCouncil,theCompanyhas issued1,440,064,181 AShares onanon-public issuebasis intheyearof2017.
	ThepresentsharecapitalstructureoftheCompanyisasfollows:theCompany has a total of 14,524,815,185 ordinary shares in issue, of which9,962,131,821sharesareheldbyholdersofAShares,representingapproximately68.59%oftheCompany'stotalsharecapital,and4,562,683,364sharesareheldbyholdersofHShares,representingapproximately31.41%oftheCompany'stotalsharecapital.
Article22	TheCompany'sboardofdirectorsmaytakeallnecessaryactionfortheissuance of Overseas-Listed Foreign Shares and A Shares after proposals forissuanceofthesamehavebeenapprovedbythesecuritiesauthorityoftheStateCouncil.
	The Company may implement its proposal to issue Overseas-Listed ForeignShares and A Shares pursuant to the preceding paragraph within fifteen (15)monthsfromthedateofapprovalbytheCSRC.

Article23	Where the total number of shares stated in the proposal for the issuance ofsharesincludes Overseas-ListedForeign SharesandAShares,suchsharesshallbefullysubscribedforattheirrespectiveofferings.Ifthesharescannot be fully subscribed for all at once due to special circumstances, theshares may, subject to the approval of the securities authority of the StateCouncil,beissuedinseparatetranches.
Article24	TheregisteredcapitaloftheCompanyisRMB14,524,815,185.
Article25	TheCompanymay,basedonitsoperatinganddevelopmentneeds,authorizetheincreaseofitscapitalpursuanttotheArticlesofAssociation.
	TheCompanymayincreaseitscapitalinthefollowingways:
	(1) bypublicofferingofshares;
	(2) bynon-publicofferingofshares;
	(3) byissuingbonussharestoitsexistingshareholders;
	(4) byconvertingthecommonreserveintosharecapital;
	(5) byanyothermeanswhichisprescribedbylawandadministrativeregulationsandapprovedbytheCSRC.
	After theCompany's increaseofcapital hasbeen approvedin accordancewiththeprovisionsoftheArticlesofAssociation,theissuancethereofshouldbemadeinaccordancewiththeproceduressetoutintherelevantStatelawsandadministrativeregulations.
Article26	Exceptasprovidedforbyotherprovisionsoflawandadministrativeregulations,sharesoftheCompanymaybefreelytransferredwithoutanylienattached.
CHAPTER4:REDUCTIONOFCAPITALANDREPURCHASEOFSHARES
Article27	AccordingtotheprovisionsoftheArticlesofAssociation,theCompanymayreduceitsregisteredcapital.
Article28	TheCompanymustprepareabalancesheetandaninventoryofassetswhenitreducesitsregisteredcapital.

	TheCompanyshallnotifyitscreditorswithinten(10)daysofthedateoftheCompany'sresolutionforreductionofcapitalandshallpublishanannouncementina newspaper withinthirty (30) daysof the date ofsuchresolution. A creditor has the right within thirty (30) days of receipt of thenoticefromtheCompanyor,inthecaseofacreditorwhodoesnotreceivesuchnotice,withinforty-five(45)daysofthedateofannouncement,torequiretheCompanytorepayitsdebtsortoprovideacorrespondingguaranteeforsuchdebt.
	TheCompany'sregisteredcapitalmaynot,afterthereductionincapital,belessthantheminimumamountprescribedbylaw.
Article29	TheCompanymay,inaccordancewiththeproceduressetoutintheCompany'sArticlesofAssociationandwiththeapprovaloftherelevantgoverningauthorityoftheState,repurchaseitsissuedsharesunderthefollowingcircumstances:
	(1) reducingitsregisteredcapital;
	(2) mergingwithanothercompanythatholdssharesintheCompany;
	(3) usingthesharesfortheemployeeshareownershipplanorasshareincentive;
	(4) acquiring as requested the shares of shareholders who vote against anyresolutiononthemergerordemergeroftheCompanyadoptedatashareholders'generalmeeting;
	(5) usingthesharesfortheconversionofthecorporatebondsissuedbythelistedcompanywhichareconvertibleintoshares;
	(6) necessaryforsafeguardingthevalueoftheCompanyandtheshareholders'interests;
	(7) othercircumstancespermittedbylawsandadministrativeregulations.
	Saveastheaforesaidcircumstances,theCompanyshallnotconductactivitiesofdealinginitsshares.
	TheCompany'srepurchaseofitsissuedsharesshallcomplywiththeprovisionsofArticle30toArticle33oftheseArticlesofAssociation.

Article30	TheCompanymayrepurchasesharesinoneofthefollowingways,withtheapprovaloftherelevantgoverningauthorityoftheState:
	(1) bymakingageneralofferfortherepurchaseofsharestoallitsshareholdersonaproratabasis;
	(2) byrepurchasingsharesthroughpublicdealingonastockexchange;
	(3) byrepurchasingsharesoutsideofthestockexchangebymeansofanagreement;
	(4) byanyothermeanwhichispermittedbylawandadministrativeregulationsandbytheauthorityinchargeofsecuritiesoftheStateCouncil.
	TherepurchaseofthesharesoftheCompanyarisingfromthecircumstancesprovidedunderitems(3),(5)and(6)ofthefirstparagraphof Article 29 of these Articles of Association shall be carried out by way ofopenandcentralizedtrading.
Article31	TheCompanymustobtainthepriorapprovaloftheshareholdersinageneralmeeting,inaccordancewiththeArticlesofAssociationoftheCompany, before it may repurchase shares outside of the stock exchange bymeansofan agreement.TheCompany may, by obtainingthe priorapprovaloftheshareholdersinageneralmeeting(inthesamemanner),release,varyor waive its rights under an agreement which has been entered into in themannersetoutabove.
	Anagreementfortherepurchaseofsharesreferredtointheprecedingparagraph includes (but is not limited to) an agreement to become liable torepurchasesharesoranagreementtohavetherighttorepurchaseshares.
	TheCompanymaynotassignanagreementfortherepurchaseofitssharesoranyrightcontainedinsuchanagreement.
Article32	The purchase of the shares of the Company arising from the circumstancesprovided under items (1) and (2) of the first paragraph of Article 29 of theArticles of Association shall be made by the resolution of the shareholders'general meeting; the purchase of the shares of the Company arising from thecircumstances provided under items (3), (5) and (6) of the first paragraph ofArticle 29of theArticles of Associationmaybe madebytheresolutions oftheboardofdirectorsinaboardmeetingwheremorethantwo-thirds(2/3)ofdirectorsarepresentundertheprovisionsoftheArticlesofAssociationortheauthorizationgrantedattheshareholders'generalmeeting.

	AfterthepurchaseofthesharesoftheCompanyaccordingtotheprovisionof Article 29, the shares shall be cancelled within 10 days from the date ofpurchase under the circumstance of the item (1) of the first paragraph; thesharesshallbetransferredorcancelledwithin6monthsunderthecircumstancesofitems(2)and(4)ofthefirstparagraph;thetotalnumberofsharesthenheldbytheCompanyshallnotexceedtenpercentofthe total number of its issued shares and the shares so purchased shall betransferredorcancelledwithin3yearsunderthecircumstancesofitems(3), (5)and(6)ofthefirstparagraph.
	Ifitisotherwiseprovidedfortherepurchaseandcancellationofsharesunderthe relevant rules ofthe regulatory authorities and stockexchangesofthejurisdictionswherethesharesoftheCompanyarelisted,suchrequirementsshallprevail.
	TheaggregateparvalueofthecancelledsharesshallbedeductedfromtheCompany'sregisteredsharecapital.
Article33	UnlesstheCompanyisinthecourseofliquidation,itmustcomplywiththefollowingprovisionsinrelationtorepurchaseofitsissuedshares:
	(1) where the Company repurchases shares at par value, payment shall bemadeoutofthebookbalanceofdistributableprofitsoftheCompanyoroutofproceedsofanewissueofsharesmadeforthatpurpose;
	(2) wheretheCompanyrepurchasessharesoftheCompanyatapremiumto itsparvalue, paymentup tothe parvalue maybe madeout ofthebookbalanceofdistributableprofitsoftheCompanyoroutoftheproceedsofanewissueofsharesmadeforthatpurpose.Paymentoftheportioninexcessoftheparvalueshallbeeffectedasfollows:
	(i) ifthesharesbeingrepurchasedwereissuedatparvalue,payment shall be made out of the book balance of distributableprofitsoftheCompany;
	(ii) ifthesharesbeingrepurchasedwereissuedatapremiumtoitsparvalue,paymentshallbemadeoutofthebookbalanceofdistributableprofitsoftheCompanyoroutoftheproceedsofanewissueofsharesmadeforthatpurpose,providedthattheamountpaidoutoftheproceedsofthenewissueshallnotexceedtheaggregateamountofpremiumsreceivedbytheCompanyontheissueofthesharesrepurchasednorshallitexceed the book value of the Company's capital common reservefundaccount(includingthepremiumsonthenewissue)atthetimeoftherepurchase;

	(3) theCompanyshallmakethefollowingpaymentsoutoftheCompany'sdistributableprofits:
	(i) paymentfortheacquisitionoftherighttorepurchaseitsownshares;
	(ii) paymentforvariationofanycontractfortherepurchaseofitsshares;
	(iii) paymentforthereleaseofitsobligation(s)underthecontractfortherepurchaseofitsshares;
	(4) aftertheCompany'sregisteredcapitalhasbeenreducedbytheaggregateparvalueofthecancelledsharesinaccordancewiththerelevantprovisions,theamountdeductedfromthedistributableprofitsoftheCompanyforpaymentoftheparvalueofshareswhichhavebeenrepurchasedshallbetransferredtotheCompany'scapitalcommonreservefundaccount.
CHAPTER5:FINANCIALASSISTANCEFORTHEACQUISITIONOFSHARES
Article34	The Company or its subsidiaries shall not, at any time, provide any form offinancial assistance to a person who is acquiring or is proposing to acquireshares in the Company. This includes any person who directly or indirectlyincursanyobligationsasaresultoftheacquisitionofsharesintheCompany(the"Obligor").
	The Company or its subsidiaries shall not, at any time, provide any form offinancialassistancetotheObligorforthepurposesofreducingordischargingtheobligationsassumedbysuchObligor.
	ThisArticleshallnotapplytothecircumstancesspecifiedinArticle36oftheseArticlesofAssociation.
Article35	ForthepurposesofthisChapter,"financialassistance"includes(withoutlimitation)thefollowing:
	(1) gift;
	(2) guarantee (including the assumption of liability by the guarantor or theprovisionofassetsbytheguarantortosecuretheperformanceofobligationsbytheObligor),indemnity(otherthanindemnityinrespectoftheCompany'sowndefault)orreleaseorwaiverofanyrights;

	(3) provisionofloan,oranyotheragreementunderwhichtheobligationsoftheCompanyaretobefulfilledbeforetheobligationsofanotherparty,orthechangeinpartiesto,ortheassignmentofrightsunder,suchloanoragreement;
	(4) any other form of financial assistance given by the Company when theCompany is insolvent or has no net assets or when its net assets wouldtherebybereducedtoamaterialextent.
	For the purposes of this Chapter, "assumption of obligations" includes theassumptionofobligationsbywayofcontractorbywayofarrangement(irrespectiveofwhethersuchcontractorarrangementisenforceableornotandirrespectiveofwhethersuchobligationistobebornesolelybytheObligororjointlywithotherpersons)orbyanyothermeanswhichresultsinachangeinhisfinancialposition.
Article36	ThefollowingactionsshallnotbedeemedtobeactivitiesprohibitedbyArticle34oftheseArticlesofAssociation:
	(1) theprovisionoffinancialassistancebytheCompanywherethefinancial assistance is given in the interests of the Company, and theprincipal purpose of which is not for the acquisition of shares in theCompany,orthegivingofthefinancialassistanceisanincidentalpartofsomelargerpurposeoftheCompany;
	(2) thelawfuldistributionoftheCompany'sassetsbywayofdividend;
	(3) theallotmentofbonussharesasdividends;
	(4) areductionofregisteredcapital,arepurchaseofsharesoftheCompanyorareorganisationofthesharecapitalstructureoftheCompanyeffectedinaccordancewiththeArticlesofAssociation;
	(5) thelendingofmoneybytheCompanywithinitsscopeofbusinessandintheordinarycourseofitsbusiness,wherethelendingofmoneyispartofthescopeofbusinessoftheCompany(providedthatthenetassetsoftheCompanyarenottherebyreducedorthat,totheextentthattheassetsaretherebyreduced,thefinancialassistanceisprovidedoutofdistributableprofitsoftheCompany);

	(6) contributionsmadebytheCompanytoemployeeshareownershipschemes (provided that the net assets of the Company are not therebyreduced or that, to the extent that the assets are thereby reduced, thefinancialassistanceisprovidedoutofdistributableprofitsoftheCompany).
CHAPTER6:SHARECERTIFICATESANDREGISTEROFSHAREHOLDERS
Article37	SharecertificatesoftheCompanyshallbeinregisteredform.
	ThesharecertificateoftheCompanyshallcontainthefollowingmainparticulars:
	(1) thenameoftheCompany;
	(2) thedateofregistrationandincorporationoftheCompany;
	(3) theclassofshares,parvalueandnumberofsharesitrepresents;
	(4) thesharecertificatenumber;
	(5)othermattersrequiredtobestatedthereinbytheCompanyLaw,SpecialRegulationsandthestockexchange(s)onwhichtheCompany'ssharesarelisted.
Article38	SharecertificatesoftheCompanymaybeassigned,givenasagift,inheritedorchargedinaccordancewithrelevantprovisionsoflaws,administrativeregulationsandtheseArticlesofAssociation.
	Forassignmentandtransferofsharecertificates,relevantregistrationshallbecarriedoutwiththeshareregistrationinstitutionauthorizedbytheCompany.

Article39	SharecertificatesoftheCompanyshallbesignedbythelegalrepresentativeof the Company's board of directors. Where thestock exchange(s) on whichtheCompany'ssharesarelistedrequireotherseniorofficer(s)oftheCompany to sign on the share certificates, the share certificates shall also besigned by such senior officer(s). The share certificates shall take effect afterbeingaffixedwiththesealoftheCompany(includingthesealoftheCompanyespeciallyforsecurities).ThesharecertificateshallbeaffixedwiththesealoftheCompanyorthesealoftheCompanyespeciallyforsecuritiesundertheauthorizationof theboard ofdirectors.Thesignaturesof the Chairman of the board of directors or other senior officer(s) of theCompanymaybeinprintedform.SubjecttotheconditionsofpaperlessofferingandtradingofthesharesoftheCompany,thelawsandrulesotherwiseprovidedbytheregulatoryauthoritiesofthejurisdictionswherethesharesoftheCompanyarelistedareapplicable.
Article40	TheCompanyshallnotacceptanypledgebeingcreatedoveritsownshares.
Article41	Duringtheirtermsofoffice,directors,supervisors,president,vicepresidentsandotherseniorofficersshallreportperiodicallytotheCompanytheirshareholdingsintheCompanyandthechangeofsuchshareholdings.Thetransferofsharesbysuchpersonnelshallbeconductedinaccordancewiththelaw,regulationsand/orrelevantprovisionsoftheListingRules.
Article42	ShouldtheCompany'sdirectors,supervisors,president,vicepresident,otherseniormanagementpersonnelandshareholdersholdingmorethan5%ofthe Company's sharessell theirshares inthe Companywithin6monthsfrom the date of purchase of the same, or repurchase the Company's shareswithin 6 months from the date of selling the same,the profitsderived fromsuchactivitiesshallbe vestedin theCompany. TheCompany's BoardofDirectorsshallrecoverfromtheaforementionedpartiesthegainsderivedtherefrom,exceptthatthesix-monthtimelimitwithrespecttothesaleofsuch shares shall not apply to any holding 5% or more of the shares of theCompany by any securities company as a result of its purchase of remainingsharessoldunderanunderwritingobligation.
	Should the Company's Board of Directors not comply with the provision setforth in the preceding paragraph and act accordingly, the shareholders shallhave therighttorequest theBoardofDirectorstodulyactinaccordancewiththe same within30 days.Should the Company's Boardof Directors notactinaccordancewiththesamewithintheaforementionedperiod,theshareholders shall have the right to initiate proceedings at a People's Courtdirectlyinhis/herownnamefortheinterestsoftheCompany.

	Should the Company's Board of Directors not comply with the provision setforthinthefirstparagraphandactaccordingly,theresponsibleDirectorsshallassumejointliabilityinaccordancewiththelaw.
Article43	TheCompanyshallkeeparegisterofshareholderswhichshallcontainthefollowingparticulars:
	(1) thename(title),address(residence)andtheoccupationorthenatureoftheoccupationofeachshareholder;
	(2) theclassandquantityofsharesheldbyeachshareholder;
	(3) theamountpaid-uponoragreedtobepaid-uponthesharesheldbyeachshareholder;
	(4) thesharecertificatenumber(s)ofthesharesheldbyeachshareholder;
	(5) thedateonwhicheachpersonwasenteredintheregisterasashareholder;
	(6) thedateonwhichanyshareholderceasedtobeashareholder.
	Unlessthereisevidencetothecontrary,theregisterofshareholdersshallbesufficientevidenceoftheshareholders'shareholdingsintheCompany.
Article44	TheCompanymay,inaccordancewiththemutualunderstandingandagreements made between the securities authority of the State Council andoverseassecuritiesregulatoryorganisations,maintaintheregisterofshareholdersofOverseas-ListedForeignSharesoverseasandappointoverseasagent(s)tomanagesuchregisterofshareholders.Theoriginalregister for holders of Overseas-Listed Foreign Shares listed in Hong KongshallbemaintainedinHongKong.
	AduplicateregisterofshareholdersfortheholdersofOverseas-ListedForeignSharesshallbemaintainedattheCompany'sresidence.Theappointedoverseasagent(s)shallensureconsistencybetweentheoriginalandtheduplicateregisterofshareholdersatalltimes.
	IfthereisanyinconsistencybetweentheoriginalandtheduplicateregisterofshareholdersfortheholdersofOverseas-ListedForeignShares,theoriginalregisterofshareholdersshallprevail.

Article45	TheCompanyshallhaveacompleteregisterofshareholders,whichshallcomprisethefollowingparts:
	(1) theregisterofshareholderswhichismaintainedattheCompany'sresidence (other than those share registers which are described in sub-paragraphs(2)and(3)ofthisArticle);
	(2) theregisterofshareholdersinrespectoftheholdersofOverseas-ListedForeignSharesoftheCompanywhichismaintainedinthesameplaceastheoverseasstockexchangeonwhichthesharesarelisted;and
	(3) theregister ofshareholderswhich aremaintainedin suchother placeasthe boardofdirectorsmayconsidernecessaryforthe purposesofthelistingoftheCompany'sshares.
Article46	Differentpartsoftheregisterofshareholdersshallnotoverlap.Notransferofanysharesregisteredinanypartoftheregistershall,duringthecontinuanceofthatregistration,beregisteredinanyotherpartoftheregister.
	Anychangeorcorrectiontovariouspartsoftheregisterofshareholdersshallbecarriedoutinaccordancewiththelawoftheplacewheresuchpartsoftheregisterofshareholdersaremaintained.
Article47	ThetransferofOverseas-ListedForeignSharesintheCompanylistedinHong Kong shall be carried out in writing through transfer instruments innormalorordinaryformorintheformacceptabletotheboardofdirectors;andsuchtransferinstrumentcanbesignedonlyunderhandoraffixedwiththeseal of theCompany(ifthetransferor ortransferee istheCompany). Ifthe transferor or transferee is a securities clearing institution (or its attorney)recognisedbytheapplicablelistingrulesorotherrelevantsecuritieslawsandregulations,signedunderhandorsignedinprintedmechanicalform.All the transfer instruments shall be maintained at the legal address of theCompanyoranotherplaceasdesignatedbytheboardofdirectors.
	AllOverseas-ListedForeignShareslistedinHongKong,whichhavebeenfully paid-up, may be freely transferred in accordance with the Articles ofAssociation.However,unlesssuchtransfercomplieswiththefollowingrequirements,theboardofdirectorsmayrefusetorecogniseanyinstrumentoftransferandwouldnotneedtoprovideanyreasontherefore:
	(1) afeeofHK$2.50perinstrumentoftransferorsuchhigheramountagreed from time to time by the Stock Exchange for registration of theinstrumentoftransferandotherdocumentsrelatingtotherightofownershipoftheshares;

	(2) theinstrumentoftransferonlyrelatestoForeign-ListedForeignShareslistedinHongKong;
	(3) thestampdutywhichischargeableontheinstrumentoftransferhasalreadybeenpaid;
	(4) therelevantsharecertificate(s)andanyotherevidencewhichtheboardofdirectorsmayreasonablyrequiretoshowthatthetransferorhastherighttotransfertheshareshavebeenprovided;
	(5) ifitisintendedthatthesharesbetransferredtojointowners,themaximumnumberofjointownersshallnotbemorethanfour(4);
	(6) theCompanydoesnothaveanylienontherelevantshares.
	IftheCompanyrefusestoregisteratransferofshares,theCompanyshallissuetothetransferorandtransfereeanoticeregardingsuchdecisionwithin2monthsstartingfromthedateofformalapplicationfortransferofshares.
Article48	Whereprovisionsoflaws,administrativeregulations,otherdirectivesandtherelevantstockexchangesorregulatoryauthoritiesofthejurisdictionswherethesharesoftheCompanyarelistedgoverningtheperiodofclosureofregisterofmembersbeforeconveningtheshareholders'generalmeetingortherecorddatefordeterminingthedistributionofdividendsoftheCompany,suchrequirementsshallprevail.
Article49	WhentheCompanyintendstoconveneashareholders'generalmeeting,distributedividends,liquidateandengageinotheractivitiesthatinvolvedetermination of shareholding, the board of directors or the convener of theshareholders'generalmeetingshalldecideonadatefortherecordofshareholding. Shareholders whose names are registered on the share registeraftertheclosingofthemarketonsuchdateshallbetheCompany'sshareholderswiththeentitlementtotherelevantrights.ShouldtheArticlesof Association have contrary requirements, the Company shall comply withsuchrequirements.
Article50	Any person aggrieved and claiming to be entitled to have his name (title)entered inor removed from the register of shareholders may applyto a courtofcompetentjurisdictionforrectificationoftheregister.

Article51	Anypersonwhoisaregisteredshareholderorwhoclaimstobeentitledtohavehisname(title)enteredintheregisterofshareholdersinrespectofsharesintheCompanymay,ifhissharecertificate(the"originalcertificate")relatingtothesharesislost,applytotheCompanyforareplacementsharecertificateinrespectofsuchshares(the"RelevantShares").
	Application by a holder of A Shares, who has lost his share certificate, for areplacementsharecertificateshallbedealtwithinaccordancewithArticle143oftheCompanyLaw.
	Application by a holder of Overseas-Listed Foreign Shares, who has lost hissharecertificate,forareplacementsharecertificatemaybedealtwithinaccordancewiththelawoftheplacewheretheoriginalregisterofshareholdersofholdersofOverseas-ListedForeignSharesismaintained,therulesofthestockexchangeorotherrelevantregulations.
	TheissueofareplacementsharecertificatetoaholderofHShares,whohaslosthissharecertificate,shallcomplywiththefollowingrequirements:
	(1) TheapplicantshallsubmitanapplicationtotheCompanyinaprescribedformaccompaniedbyanotarialcertificateorastatutorydeclaration,statingthegroundsupon whichtheapplicationismade,the circumstances and evidence of the loss; and declaring that no otherpersonisentitledtohavehisnameenteredintheregisterofshareholdersinrespectoftheRelevantShares.
	(2) TheCompanyhasnotreceivedanydeclarationmadebyanypersonotherthantheapplicantdeclaringthathisnameshallbeenteredintotheregisterofshareholdersinrespectofsuchsharesbeforeitdecidestoissueareplacementsharecertificatetotheapplicant.
	(3) TheCompanyshall,ifitintendstoissueareplacementsharecertificate, publish a notice of its intention to do so at least once everythirty(30)dayswithinaperiodofninety(90)consecutivedaysinsuchnewspapersasmaybeprescribedbytheboardofdirectors.
	(4) TheCompanyshall,priortopublicationofitsintentiontoissueareplacementsharecertificate,delivertothestockexchangeonwhichitssharesarelisted,acopyofthenoticetobepublishedandmaypublishthenoticeuponreceiptofconfirmationfromsuchstockexchangethatthenoticehasbeenexhibitedinthepremisesofthestock exchange. Such notice shall be exhibited in the premises of thestockexchangeforaperiodofninety(90)days.

	InthecaseofanapplicationwhichismadewithouttheconsentoftheregisteredholdersoftheRelevantSharesbyanapplicantwhoisnotaregistered shareholder of Relevant Shares and, the Company shall deliver bymailtosuchregisteredshareholderacopyofthenoticetobepublished.
	(5) If,bytheexpirationofthe90-dayperiodreferredtoinparagraphs(3)and(4)ofthisArticle,theCompanyhasnothavereceivedanyobjectionsfromanypersoninrespectoftheissuanceofthereplacementsharecertificate,itmayissueareplacementsharecertificatetotheapplicantpursuanttohisapplication.
	(6) Where the Company issues a replacement share certificate pursuant tothis Article, it shall forthwith cancel the original share certificate anddocumentthecancellationoftheoriginalsharecertificateandissuanceofareplacementsharecertificateintheregisterofshareholdersaccordingly.
	(7) All expenses relating to the cancellation of an original share certificateand the issuanceof areplacementshare certificateshall beborne bythe applicant and the Company isentitled to refuse to take any actionuntilreasonablesecurityisprovidedbytheapplicanttherefore.
Article52	WheretheCompanyhasissuedareplacementsharecertificatepursuanttotheArticlesofAssociationandabonafidepurchaseracquiresorbecomestheregisteredownerofsuchshares,hisname(title)shallnotberemovedfromtheregisterofshareholders.
Article53	TheCompanyshallnotbeliableforanydamagessustainedbyanypersonby reason ofthe cancellation ofthe originalshare certificateor the issuanceofthereplacementsharecertificateunlesstheclaimantisabletoprovethattheCompanyhasactedinafraudulentmanner.
CHAPTER7:SHAREHOLDERS'RIGHTSANDOBLIGATIONS
Article54	AshareholderoftheCompanyisapersonwholawfullyholdssharesintheCompanyandwhosename(title)isenteredintheregisterofshareholders.
	Ashareholdershallenjoyrightsandassumeobligationsaccordingtotheclassandamountofsharesheldbyhim;shareholderswhoholdsharesofthesameclassshallenjoythesamerightsandassumethesameobligations.

	Inthecaseofthejointshareholders,ifoneofthejointshareholdersisdeceased, onlythe otherexistingshareholder ofthe joint shareholdersshallbedeemed as thepersons whohave theownership ofthe relevantshares.Buttheboardofdirectorshasthepowertorequirethemtoprovideacertificate of death as necessary for the purpose of modifying the register ofshareholders.Onlythejointshareholdersrankingfirstintheregisterofshareholdershavetherighttoacceptcertificatesoftherelevantshares,receivenoticesoftheCompany,attendandvoteatshareholders'generalmeetingsoftheCompany.Anynoticethatisdeliveredtotheaforesaidshareholdershallbeconsideredasdeliveredtoallthejointshareholdersoftherelevantshares.
Article55	HoldersoftheordinarysharesoftheCompanyshallenjoythefollowingrights:
	(1) therighttoreceivedividendsandotherdistributionsinproportiontothenumberofsharesheld;
	(2) therighttorequesttoconvene,convene,presideover,attendorappoint a proxy to attend shareholders' general meetings and to votethereatinproportiontothenumberofsharesintheirpossessionpursuanttothelaws;
	(3) therightofsupervisorymanagementovertheCompany'sbusinessoperationsandtherighttopresentproposalsortoraisequeries;
	(4) the right to transfer, donate or pledge the shares in their possession inaccordance with laws, administrative regulations and provisions of theArticlesofAssociation;
	(5) therighttoobtainrelevantinformationinaccordancewiththeprovisionsoftheArticlesofAssociation,including:
	(i) therighttoobtainacopyoftheArticlesofAssociation,subjecttopaymentofcosts;
	(ii) therighttoinspectandcopy,subjecttopaymentofareasonablefee:
	(a) allpartsoftheregisterofshareholders;
	(b) personalparticularsofeachoftheCompany'sdirectors,supervisors,president,vicepresidentsandotherseniorofficers,including:
	(aa)presentandformernameandalias;

	(bb)principaladdress(placeofresidence);
	(cc)nationality;
	(dd)primaryandallotherpart-timeoccupationsandduties;
	(ee)identificationdocumentsandthenumbersthereof;
	(c) reportonthestateoftheCompany'ssharecapital;
	(d) reportsshowingtheaggregateparvalue,quantity,highestandlowestpricepaidinrespectofeachclassofsharesrepurchasedbytheCompanysincetheendofthelastaccountingyearandtheaggregateamountpaidbytheCompanyforthispurpose;
	(e) minutesofshareholders'generalmeetings;
	(f) counterfoils of corporate bonds, resolutions of the board ofdirectors,resolutionsofthesupervisoryboard,financialandaccountingreport;
	(6) intheeventoftheterminationorliquidationoftheCompany,therighttoparticipateinthedistributionofsurplusassetsoftheCompanyinaccordancewiththenumberofsharesheld;
	(7) Withrespecttoshareholderswhovoteagainstanyresolutionadoptedat the shareholders' general meeting on the merger or demerger of theCompany,therighttorequesttheCompanytoacquiretheirshares;
	(8) therighttofiletheproceedingswith,andbringitsclaimagainstathirdpartywhichhasimpairedthebenefitsoftheCompanyorinfringedthelawfulinterestsoftheshareholdersbefore,aPeople'sCourtinaccordancewiththeCompanylaworotherlawsandadministrativeregulations;
	(9) otherrights conferredbylaws,administrative regulations,departmentalrulesandregulationsandtheArticlesofAssociationoftheCompany.

Article56	TheordinaryshareholdersoftheCompanyshallassumethefollowingobligations:
	(1) tocomplywiththeArticlesofAssociation;
	(2) topaysubscriptionmoniesaccordingtothenumberofsharessubscribedandthemethodofsubscription;
	(3) unlessotherwiseprovidedforbythelawsandregulations,nottowithdrawtheirshares;
	(4) not to abuse the rights of the shareholders to impair the interests of theCompanyorothershareholders;nottoabusetheindependentlegalpersonstatusoftheCompanyandtheenjoymentoflimitedliabilitiesof the shareholders toimpair the Company'screditors interest. Shouldthe Company's shareholders abuse their shareholder's rights and causelossestotheCompanyorothershareholders,thesaidshareholdersshall be liable for damages pursuant to the law. Should the Company'sshareholders abuse the Company's independent legal person status andthe enjoyment of limited liabilities of the shareholders to evade debtliabilities,resultinginmateriallyimpairingtheinterestsoftheCompany'screditors,thesaidshareholdersshallbearjointandseveralliabilitiestotheCompany'sdebts;
	(5) otherobligationsimposedbylaws,administrativeregulationsandtheArticlesofAssociation.
	Shareholdersarenotliabletomakeanyfurthercontributiontothesharecapitalotherthanaccordingtothetermswhichwereagreedbythesubscriberoftherelevantsharesatthetimeofsubscription.
Article57	Should a shareholders holding 5% or more of the voting shares pledges anysharesinhis/herpossession,heorsheshallsubmittotheCompanyawrittenreportonthedayonwhichhe/shepledgeshis/hershares.
Article58	ThecontrollingshareholdersandthedefactocontrollingpersonsoftheCompanyshallnotmakeuseofitsconnectedrelationshiptoimpairtheCompany'sinterest.TheabovementionedpersonswhoviolatesuchprovisionsandcauselossestotheCompanyshallbeliablefordamagestotheCompany.

	ThecontrollingshareholdersandthedefactocontrollingpersonsoftheCompanyshallhavefiduciarydutiestoboththeCompanyanditspublicshareholders.Thecontrollingshareholdersshallexerciseitsrightsasacapitalcontributorinstrictcompliancewiththelaw.Thecontrollingshareholders shall neither impair the legal interests of the Company and thepublicshareholdersthroughprofitdistribution,assetrestructuring,externalinvestment,useoffunds,provisionofguaranteebyborrowingfundsaswellasothermethods,norshalltheymakeuseofitscontrollingpositiontoimpairtheinterestoftheCompanyandthepublicshareholders.
Article59	Inadditiontotheobligationsimposedbylawsandadministrativeregulationsorrequiredbythelistingrulesofthestockexchangeonwhich the Company's shares are listed, a controlling shareholder shall notexercise his voting rights in respect of the following matters in a mannerprejudicialtotheinterestsofallorpartoftheshareholdersoftheCompany:
	(1) torelieveadirectororsupervisorofhisdutytoacthonestlyinthebestinterestsoftheCompany;
	(2) to approve the expropriation by a director or supervisor (for his ownbenefitorforthebenefitofanotherperson)oftheCompany'sassetsinanyway,including(butnotlimitedto)opportunitieswhicharebeneficialtotheCompany;
	(3) to approve the expropriation by a director or supervisor (for his ownbenefit or for the benefit of another person) of the individual rights ofother shareholders, including (but not limited to) rights to distributionsandvotingrights,savepursuanttoarestructuringwhichhasbeensubmittedforapprovalbytheshareholdersinageneralmeetinginaccordancewiththeArticlesofAssociation.
Article60	ForthepurposeoftheforegoingArticle,a"controllingshareholder"meansapersonwhosatisfiesanyoneofthefollowingconditions:
	(1) apersonwho,actingaloneorinconcertwithothers,hasthepowertoelectmorethanhalfoftheboardofdirectors;
	(2) a person who, acting alone or in concert with others, has the power toexerciseortocontroltheexerciseof30%ormoreofthevotingrightsintheCompany;
	(3) apersonwho,actingaloneorinconcertwithothers,holds30%ormoreoftheissuedandoutstandingsharesoftheCompany;

	(4) apersonwho,actingaloneorinconcertwithothers,hasdefactocontroloftheCompanyinanyotherway.
CHAPTER8:SHAREHOLDERS'GENERALMEETINGS
Article61	Theshareholders'generalmeetingistheorganofauthorityoftheCompanyandshallexerciseitsfunctionsandpowersinaccordancewithlaw.
Article62	Theshareholders'generalmeetingshallhavethefollowingfunctionsandpowers:
	(1) todecideontheCompany'soperationalpoliciesandinvestmentplans;
	(2) to elect and replace directors (excluding the employee representativedirector)andtodecideonmattersrelatingtotheremunerationofdirectors;
	(3) to elect and replace supervisors appointed from personnel who are notrepresentativesoftheemployeesandtodecideonmattersrelatingtotheremunerationofsupervisors;
	(4) toexamineandapprovetheboardofdirectors'reports;
	(5) toexamineandapprovethesupervisorycommittee'sreports;
	(6) toexamineandapprovetheCompany'sproposedpreliminaryandfinalannualfinancialbudgets;
	(7) toexamineandapprovetheCompany'sprofitdistributionplansandlossrecoveryplans;
	(8) todecideontheincreaseorreductionoftheCompany'sregisteredcapital;
	(9) todecideonmatterssuchasmerger,division,dissolution,liquidationorchangeoftheformoftheCompany;
	(10)todecideontheissueofdebenturesbytheCompany;
	(11)todecideontheappointment,dismissalandnon-reappointmentoftheaccountantsoftheCompany;
	(12)toamendtheArticlesofAssociation;

	(13)toresolvethematerialpurchaseandsaleofassetswithavalueinexcess of 30% of the most recent audited total assets of the Companyduringtheyear;
	(14)toresolveissuesrelatingtotheprovisionofguaranteeinfavourofthirdpartiesthatmustbeapprovedattheshareholders'generalmeetinginaccordancewiththelaws,administrativeregulationsandArticlesofAssociation;
	(15)toconsiderandapprovethevariationofuseofproceeds;
	(16)toconsiderthesharesincentiveprogram;
	(17)todecideonothermatterswhich,accordingtolaw,administrativeregulation,departmentalrulesandregulationsortheArticlesofAssociation,needtobeapprovedbyshareholdersingeneralmeetings;
Article63	Anymattersinrelationtotheprovisionofguaranteeinfavourofthirdparties by the Company shall be approvedby the boardof directors. Thefollowingmattersrelatingtotheprovisionofguaranteeshallbesubmittedto the shareholders' general meetings for examination and approval after thesamehavebeenconsideredbytheboardofdirectors:
	(1) AnyguaranteetobeprovidedbytheCompanyanditscontrollingsubsidiaries,withthetotalamountoftheguaranteeprovidedinfavourof third parties that reachesor exceeds 50%of the most recent auditednetassets;
	(2) guaranteestobeprovidedinfavourofanentitywhichissubjecttoagearingratioofover70%;
	(3) anysingleguaranteewithanamountwhichexceeds10%ofthemostrecentauditednetassetvalueoftheCompany;
	(4) guaranteestobeprovidedinfavourofanyshareholder,personwhoexerciseseffectivecontrolovertheCompanyanditsaffiliates;
	(5) any guarantee provided by the Company in favour of third parties withthe total amount of the guarantee reaches or exceeds 30% of the mostrecentauditedtotalassets;

	(6) mattersrelatingtotheprovisionofguaranteethatneedtobesubmittedto the shareholders' general meeting for examination and approval asrequiredbyotherlawsandregulationsandtheArticlesofAssociationoftheCompany.
	Ifadirector,president,vicepresidentandotherseniormanagementpersonnelcommitsanyactinbreachoftheprovisionsgoverningtheauthority in respect of the examination and approval of, and the examinationproceduresinrelationto,theprovisionofguaranteeinfavourofathirdpartyunderthelaws,administrativeregulationsortheArticlesofAssociationoftheCompany,whichresultsincausingtheCompanytosufferfromloss,suchdirector,president,vicepresidentandseniormanagementpersonnelshallbeliableforindemnityandtheCompanymaybringanactionagainstthesameinaccordancewiththelaw.
Article64	Matters which should be determined at a shareholders' general meeting asstipulatedbythelaws,administrativeregulationsandtheseArticlesofAssociationmustbeconsideredatashareholders'generalmeetinginorderto protectthe rightoftheCompany's shareholdersto makedecisionoversuchmatters.Whennecessaryorunderreasonablecircumstances,theshareholders'generalmeetingmayauthorizetheboardofdirectorstomakeadecisionwithinitsscopeofauthorizationgrantedatashareholders'generalmeetingonspecificissueswhicharerelatedtomatterstoberesolved but cannot be determined immediately at the shareholders' generalmeeting.
	Withrespecttograntingauthorizationtotheboardofdirectorsattheshareholders'generalmeeting,ifamatterforauthorizationisthemattersubjecttoanordinaryresolution,suchauthorizationshallbeadoptedbymore than one- half (1/2) (exclusive of one-half) of the voting rights held byshareholders(includingtheiragents)attendingtheshareholders'generalmeeting;ifamatterforauthorizationisthemattersubjecttospecialresolution,suchauthorizationshallbeadoptedbymorethantwo-thirds(2/3)ofthevotingrightsheldbyshareholders(includingtheiragents)attendingtheshareholders'generalmeeting.Thecontentofthescopeofauthorizationshallbeclearandspecific.
Article65	TheCompanyshallnot,withoutthepriorapprovalofshareholdersinageneralmeeting,enterintoanycontractwithanyperson(otherthanadirector,supervisor,president,vicepresidentsandotherseniorofficers)pursuant to which such person shall be responsible for the management andadministrationofthewholeoranysubstantialpartoftheCompany'sbusiness.

Article66	Shareholders'generalmeetingsaredividedintoannualgeneralmeetingsandextraordinarygeneralmeetings.Theannualgeneralmeetingsshallbeconvenedonceeveryyearandshallbeheldwithin6monthsfromtheendoftheprecedingfinancialyear.Meetingvenuesshallbefixedfortheshareholders'generalmeetings,andtheshareholders'generalmeetingsshallbeconvenedintheon-siteconferencemode.TheCompanyalsoprovidestheonlinevotingmannerfortheconvenience ofshareholdersinattendingtheirgeneralmeetings.
	TheCompanymayfacilitatetheshareholdersparticipatingintheshareholders'generalmeetingsbyprovidingothermannersandmeanstoparticipateintheshareholders'general meetings,provided thatthelegalityandeffectivenessoftheshareholders'generalmeetingareensured.Shareholdersaredeemedtobepresentintheshareholders'generalmeetingsintheaforesaidmannersandforms.
	TheCompanyshallconveneanextraordinarygeneralmeetingwithin2monthsoftheoccurrenceofanyoneofthefollowingevents:
	(1) wherethenumberofdirectorsislessthantheminimumnumberstipulatedintheCompanyLawortwo-thirdsofthenumberspecifiedintheArticlesofAssociation;
	(2) wheretheunrecoveredlossesoftheCompanyamounttoone-thirdofthetotalamountofitssharecapital;
	(3) whereshareholderswhoseparatelyorjointlyholdsmorethan10%ofthetotalCompany'ssharesmakesuchrequestinwriting;
	(4) whenevertheboardofdirectorsdeemsnecessaryorthesupervisorycommitteesorequests;
	(5) underotherconditionsasprovidedforbythelaws,administrativeregulations,departmentalrulesandregulationsortheArticlesofAssociation.
	Theshareholdingmentionedinsub-paragraph(3)aboveshallbecalculatedfromthedateonwhichashareholdersubmitshis/herrequestinwriting.

Article67	WheretheCompanyconvenesanannualgeneralmeeting,awrittennoticeofthemeetingshallbegiventotheshareholdersentitledtoattendthisgeneralmeeting20dayspriortothedateofthemeeting.WheretheCompany convenes an extraordinary general meeting, a written notice of themeetingshallbegiventotheshareholdersentitledtoattendthisgeneralmeeting15dayspriortothedateofthemeeting.
	Ifitisotherwiseprovidedinthelaws,administrativeregulations,departmentalrulesandthesecuritiesregulatoryauthoritiesorstockexchangesinthejurisdictionswherethesharesof theCompanyarelisted,suchrequirementsshallprevail.
	However,theconversingofashareholders'generalmeetingshallnotbesubjecttotheabovenoticeperiodrequirementsofallofthepromotershareholdersshallhaveagreedinwriting.
Article68	Where the Company convenes a shareholders' general meeting, the board ofdirectors,thesupervisorycommitteeandshareholderswhoseparatelyorjointlyhold3%ormoreofthesharesoftheCompanymaysubmitproposalstotheCompany.
	Shareholderswhohold,separatelyorjointly,morethan3%oftheCompany'ssharescanproposeanextraordinaryresolutioninwritingtothe convenor10days priorto theshareholders'generalmeeting. Within2daysafterthereceiptoftheextraordinaryresolution,theconvenorshallissueasupplementarynoticeofthegeneralmeetingtoannouncethecontentoftheextraordinaryresolution.Ifitisotherwiseprovidedforunderthelisting rules of the jurisdictions where the shares of the Company are listed,suchrequirementsshallalsobecompliedwith.
	Withtheexceptionofconditionsmentionedabove,theconvenershallneitheramendtheproposalsspecifiedonthenoticeoftheshareholders'generalmeeting,noraddanynewproposalsaftertheissuanceofthenoticeoftheshareholders'generalmeeting.
Article69	Matters for discussion and determination at a shareholder's general meetingshallbedeterminedinaccordancewiththeCompanyLawandtheArticlesofAssociation.Theshareholders'generalmeetingmaydetermineanymatterstipulatedbytheArticlesofAssociation.
	IssuesnotspecifiedinthenoticeasprovidedforinArticle67andArticle68oftheArticlesofAssociationorproposalswhichdonotconformwiththe requirementscontained in Article70 ofthe Articles ofAssociationshallnotbevotedandresolvedattheshareholders'generalmeetings.

Article70	Motionstabledattheshareholders'generalmeetingshallbethespecificproposalsrelatingtomatterswhichshouldbediscussedatshareholders'generalmeeting.Motionstabledatashareholders'generalmeetingshallfulfilthefollowingconditions:
	(1) thecontentofsuchmotionsshallnotcontravenetherequirementsstipulatedinthelawsandregulationsaswellasintheArticlesofAssociationandshallfallwithinthescopeofbusinessoftheCompanyandwithinthefunctionsandpowersoftheshareholders'generalmeeting;
	(2) thereshallalsohaveacleartopicfordiscussionandspecificissuesforresolution;
	(3) allmotionsshallbepresentedtoorservedontheconvenorinwriting.
Article71	AnoticeofameetingoftheshareholdersoftheCompanyshallsatisfythefollowingcriteria:
	(1) beinwriting;
	(2) specifytheplace,dateandtimeofthemeeting;
	(3) statethematterstobediscussedatthemeeting;
	(4) providesuchinformationandexplanationasarenecessaryfortheshareholders to make an informed decision on the proposals put beforethem.Withoutlimitingthegeneralityoftheforegoingprinciple,whereaproposalismadetoamalgamatetheCompanywithanother,torepurchasethesharesoftheCompany,toreorganiseitssharecapital,ortorestructuretheCompanyinanyotherway,thetermsoftheproposedtransactionmustbeprovidedindetailtogetherwithcopiesof the proposed agreement, if any, and the cause and effect of suchproposalmustbeproperlyexplained;
	(5) contain a disclosure of the nature and extent, if any, of the materialinterestsofanydirector,supervisor,president,vicepresidentsandotherseniorofficersintheproposedtransactionandtheeffectwhichtheproposedtransactionwillhaveonthemintheircapacityasshareholders insofar as it is different from the effect on the interests ofshareholdersofthesameclass;
	(6) containthefulltextofanyspecialresolutiontobeproposedatthemeeting;

	(7) containaconspicuousstatementthatashareholderentitledtoattendandvoteatsuchmeetingisentitledtoappointone(1)ormoreproxiestoattendandvoteatsuchmeetingonhisbehalfandthataproxyneednotbeashareholder;
	(8) specifythetimeandplaceforlodgingproxyformsfortherelevantmeeting.
Article72	Notice of shareholders' general meeting shall be served on the shareholders(whetherornotsuchshareholderisentitledtovoteatthemeeting),bypersonaldeliveryorbyprepaidmailtotheaddressoftheshareholderasshownintheregisterofshareholders.
	For the holders of A shares, notice of the meetings may be issued by way ofpublicannouncement.Suchpublicannouncementshallbepublishedinone (1) or more national newspapers designated by the securities authority of theState Council; after the publication of such announcement, all holders of Asharesshallbedeemedtohavereceivedthenoticeoftherelevantshareholders'meeting.
	ForholdersofOverseas-ListedForeignShares,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,thenoticeofshareholders'generalmeetingmayalsobeissuedbyothermeansasspecifiedinArticle231herein.
Article73	Theaccidentalomissiontogivenoticeofameetingto,orthefailuretoreceivethenoticeofameetingby,anypersonentitledtoreceivesuchnoticeshallnotinvalidatethemeetingandtheresolutionsadoptedthereat.
Article74	AnyshareholderwhoisentitledtoattendandvoteatageneralmeetingoftheCompanyshallbeentitledtoappointone(1)ormorepersons(whethersuch person is a shareholder or not) as his proxies to attend and vote on hisbehalf, and a proxy so appointed shall be entitled to exercise the followingrightspursuanttotheauthorizationfromthatshareholder:
	(1) theshareholders'righttospeakatthemeeting;
	(2) therighttodemandorjoinindemandingapoll;
	(3) unlessotherwiserequiredbytheapplicablelistingrulesorothersecuritieslawsandregulations,therighttovotebyhandoronapoll,butaproxyofashareholderwhohasappointedmorethanone(1)proxymayonlyvoteonapoll.

	If the shareholder is the recognized clearing house defined by the applicablelistingrulesorothersecuritieslawsandregulations,suchshareholderisentitledtoappointoneormorepersonsashisproxiestoattendonhisbehalfatageneralmeetingoratanyclassmeeting,but,ifoneormorepersonshave such authority, the letter of authorization shall contain the number andclass of the shares in connection with such authorization. Such person canexercisetherightonbehalfoftherecognizedclearinghouse(oritsattorney)asifheisanindividualshareholderoftheCompany.
Article75	The instrument appointing a proxy shall be in writing under the hand of theappointororhisattorneydulyauthorizedinwriting,oriftheappointorisalegalentity,eitherundersealorunderthehandofadirectororadulyauthorizedattorney.Theletterofauthorizationshallcontainthenumberofthe shares to be represented by the attorney. The letter of authorization shallspecify the number of shares to be represented by the attorney. If severalpersonsareauthorizedastheattorneyoftheshareholder,theletterofauthorization shall specify the number of shares to be represented by eachattorney.
Article76	Theinstrumentappointingavotingproxyand,ifsuchinstrumentissignedby a person under a power of attorney or other authority on behalf of theappointor,anotarycertifiedcopyofthatpowerofattorneyorotherauthority shall be deposited at the premises of the Company or at such otherplaceasisspecifiedforthatpurposeinthenoticeconveningthemeeting,notlessthantwenty-four(24)hoursbeforethetimeforholdingthemeetingatwhichtheproxyproposetovoteorthetimeappointedforthepassingoftheresolution.
	Iftheappointorisalegalperson,itslegalrepresentativeorsuchpersonasis authorized by resolution of its board of directors or other governing bodymayattendanymeetingofshareholdersoftheCompanyasarepresentativeoftheappointor.
Article77	Anyformissuedtoashareholderbythedirectorsforusebysuchshareholderfortheappointmentofaproxytoattendandvoteatmeetingsofthe Company shall be such as to enable the shareholder to freely instruct theproxytovoteinfavouroforagainstthemotionsandprovideshareholderswithopportunitiesofinstructingtheproxytovoteoneachindividualmattertobevotedonatthemeeting.Suchaformshallcontainastatementthat,intheabsenceofspecificinstructionsfromtheshareholder,theproxymayvoteashethinksfit.

Article78	Avotegiveninaccordancewiththetermsofaproxyshallbevalidnotwithstandingthedeathorlossofcapacityoftheappointororrevocationof the proxy or the authority under which the proxy was executed, or thetransferofthesharesinrespectofwhichtheproxyisgiven,providedthatthe Company did not receive any written notice in respect of such mattersbeforethecommencementoftherelevantmeeting.
Article79	In the course of considering matters relating to connected transactions at ashareholders'generalmeeting,theconnectedshareholdersshallabstainfrom voting. The number of shares carrying the voting rights held by suchshareholdersshallbeexcludedfromthetotalnumberofvalidvotes.Thevotingresultofthenon-connectedshareholdersshallbefullydisclosedintheannouncementoftheresolutionoftheshareholders'generalmeeting.
	Thesaidconnectedshareholdersmeansthefollowingshareholders:shareholderswhoareconnectedpartiesor,incaseofnon-connectedparties,personswhohavematerialinterestsintransactionspendingforresolutionortheirassociatespursuanttotheapplicablesecuritieslistingrulesasamendedfromtimetotime.
Article80	Ifanindividualshareholderappointsaproxytoattendtheshareholders'generalmeeting,suchproxyshallpresenthis/herownidentificationdocuments and the power of attorney signed by the appointor. If the legalrepresentative of a legal person shareholder appoints a proxy to attend theshareholders'generalmeeting,suchproxyshallpresenthis/herownidentificationdocumentsandthepowerofattorneysignedbythelegalrepresentative.Ifapersonisauthorizedbyresolutiontoattendtheshareholders' general meeting upon resolutions at the board of directors of alegalpersonshareholderorotherdecisionmakingauthority,suchpersonshallpresenthis/herownidentificationdocumentsandthewrittenauthorizationissueduponresolutionbytheboardofdirectorsofthelegal

	personshareholder or otherdecision making authority withthelegal personsealaffixedthereon.Theletterofauthorizationshallspecifyitsdateofissue.
Article81	TheCompany'sboardofdirectors,independentdirectorsandshareholderswho have satisfied certain conditions (which are determined based on suchstandardsaspromulgatedfromtimetotimebytherelevantcompetentauthorities)maypubliclysolicitthevotingrightsfromshareholdersatashareholders'generalmeeting.Insolicitingvotingrightsofshareholders,informationsuchasspecificvotingintentionshallbesufficientlydisclosedtotheshareholdersfromwhomvotingrightsarebeingsolicited.Considerationordefactoconsiderationforsolicitationofvotingrightsisprohibited.TheCompanymaynotproposeanyminimumshareholdingrestrictiononthesolicitationofvotingrights.AnypersonwhopubliclysolicitsvotingrightsfromtheshareholdersoftheCompanyshallalsocomplywithotherprovisionsstipulatedbytherelevantcompetentauthoritiesandthestockexchangesonwhichthesharesoftheCompanyarelistedandtraded.
Article82	Resolutionsofshareholders'generalmeetingsshallbedividedintoordinaryresolutionsandspecialresolutions.
	An ordinary resolution must be passed by votes representing more than one-half(exclusiveofone-half)ofthevotingrightsrepresentedbytheshareholders(includingproxies)presentatthemeeting.
	Aspecialresolutionmustbepassedbyvotesrepresentingmorethantwo-thirdsofthevotingrightsrepresentedbytheshareholders(includingproxies)presentatthemeeting.
Article83	A shareholder (including a proxy), when voting at a shareholders' generalmeeting, may exercise such voting rights as are attached to the number ofvoting shares which he represents. Except otherwise provided for election ofdirectors in Article 111 and election of supervisors in Article 150 of theseArticlesofAssociationinconnectionwiththe adoptionofthe cumulativevotingsystemforelectionofdirectors,eachshareshallhaveone(1)vote.ThesharesheldbytheCompanyitselfshallnotbeattachedwithvotingrights.Thosesharesshallnotbecountedasthetotalnumberofvotingsharesheldbyshareholdersattendingtheshareholders'generalmeetings.
	Where materialissues affecting the interestsof small andmedium investorsarebeingconsideredintheshareholders'generalmeeting,thevotesbysmallandmediuminvestorsshallbecountedseparately.Theseparatecountingresultsshallbedisclosedtothepublicinatimelymanner.

	Whereashareholderis,undertheapplicablelistingrulesasamendedfromtimetotime,requiredtoabstainfromvotingonanyparticularresolutionortovoteonlyfororonlyagainstanyparticularresolution,anyvotescastbyoronbehalfofsuchshareholderincontraventionofsuchrequirementorrestrictionshallnotbecounted.
Article84	Atanyshareholders'generalmeeting,aresolutionshallbedecidedonashowofhandsunlessapollisdemanded:
	(1) bythechairmanofthemeeting;
	(2) byatleasttwo(2)shareholderspresentinpersonorbyproxyentitledtovotethereat;
	(3) byone(1)ormoreshareholders(includingproxies)representing10%or moreof the shares(held solely orincombination) carrying the righttovoteatthemeeting,beforeorafteravoteiscarriedoutbyashowofhands.
	Unlessotherwiserequiredbytheapplicablelistingrulesorothersecuritieslawsandregulationsorapollisdemanded,adeclarationbythechairmanthataresolutionhasbeenpassedonashowofhandsandtherecordofsuchinthe minutesof themeeting shallbeconclusiveevidenceof thefact thatsuchresolutionhasbeenpassedwithoutproofofthenumberorproportionofvotesinfavouroforagainstsuchresolution.
	Thedemandforapollmaybewithdrawnbythepersonwhodemandsthesame.
Article85	A poll demanded on the election of the chairman of the meeting, or on aquestion of adjournment of the meeting, shall be taken forthwith. Unless theapplicablelistingrulesorothersecuritieslawsandregulationsrequireotherwise,apolldemandedonanyotherquestionshallbetakenatsuchtime as the chairman of the meeting directs, and any business other than thatupon which a poll has been demanded may be proceeded with, pending thetakingofthepoll.Theresultofthepollshallbedeemedtobearesolutionofthemeetingatwhichthepollwasdemanded.
Article86	Onapolltakenatameeting,ashareholder(includingaproxy)entitledtotwo(2)ormorevotesneednotcastallhisvotesinthesameway.
Article87	Inthecaseofanequalityofvotes,whetheronashowofhandsoronapoll,thechairmanofthemeetingatwhichtheshowofhandstakesplaceoratwhichthepollisdemandedshallhaveacastingvote.

Article88	Thefollowingmattersshallberesolvedbyanordinaryresolutionatashareholders'generalmeeting:
	(1) workreportsoftheboardofdirectorsandthesupervisorycommittee;
	(2) profitdistributionplansandlossrecoveryplansformulatedbytheboardofdirectors;
	(3) electionorremovalofmembersoftheboardofdirectorsandmembersofthesupervisorycommittee,theirremunerationandmannerofpayment;
	(4) annualpreliminaryandfinalbudgets,balancesheetsandprofitandlossaccountsandotherfinancialstatementsoftheCompany;
	(5) theappointment,removalornon-reappointmentofanaccountingfirm;
	(6) mattersotherthanthosewhicharerequiredbythelawsandadministrativeregulationsorbytheCompany'sArticlesofAssociationtobeadoptedbyspecialresolution.
Article89	Thefollowingmattersshallberesolvedbyaspecialresolutionatashareholders'generalmeeting:
	(1) theincreaseorreductioninsharecapitalandtheissueofsharesofanyclass,warrantsandothersimilarsecurities;
	(2) theissueofdebenturesoftheCompany;
	(3) thedemerger,merger,dissolutionandliquidationorchangeoftheformoftheCompany;
	(4) amendmentoftheArticlesofAssociation;
	(5) thematerialpurchaseorsaleofassetsortheprovisionofguaranteebytheCompanyduringtheyearthatisinexcessof30%ofthemostrecentauditedtotalassetsvalueoftheCompany;
	(6) thesharesincentiveprogram;
	(7) anyothermatterasprovidedforbythelaws,administrativeregulations,departmentalrulesandregulationsortheArticlesofAssociation, and as considered by the shareholders at a shareholders'generalmeeting,andresolvedbywayofanordinaryresolution,whichis of a nature which may have a material impact on the Company andshouldbeadoptedbyspecialresolution.

Article90	Anyresolutionadoptedbyashareholders'generalmeetingshallcomplywith relevant provisions of PRC laws, administrative regulations and theseArticlesofAssociation.
Article91	Thefollowingproceduresshallbeadoptedshouldtheindependentdirectors,thesupervisorycommittee,shareholderswhoseparatelyorjointlyholdvoting shares in excess of 10% request for convening of an extraordinarygeneralmeetingorclassmeeting:
	(1) Thesaiddirectors,supervisorycommitteeandshareholdersshallsignacopy,orseveralcopies,ofwrittenrequestinthesameformandsubstance,andrequesttheboardofdirectorstoconveneanextraordinary general meeting or a class meeting, with clearly statedtopics for discussion at the meeting. Within 10 days of receiving thewrittenrequest,theboardofdirectorsshallreplyinwritingonwhetherornottheyagreetoconveneanextraordinarygeneralmeeting.
	(2) Shouldtheboardofdirectorsagreetoconveneanextraordinarygeneralmeetingoraclassmeeting,anoticeforconveningsuchmeeting shall be issued within 5 days after the board of directors hasadoptedaresolution.Priorapprovalformakingamendmenttotheoriginalproposalcontainedinthenoticeshallbeobtainedfromtheoriginalproposer.
	(3) Should the board of directors not agree to convene an extraordinarygeneralmeetingoraclassmeetingasproposedbytheindependentdirectors, itshallstate itsreasonsand issueanannouncement of thesame.
	(4) Should the board of directors not agree to convene an extraordinarygeneralmeetingoraclassmeetingasproposedbythesupervisorycommittee, or not provide any reply within 10 days upon receipt of thesaidrequest,theboardofdirectorsisdeemedtobeunabletoperformorfailedtoperformitsdutiesinrespectofconveningsuchmeeting.Thesupervisorycommitteemayconveneandpresideoverthemeetingbyitself.Theproceduresforconveningsuchmeetingshallbeidenticaltothoseemployedbytheboardofdirectorsforconveningashareholders'generalmeetingasfaraspracticable.
	(5) Should the board of directors not agree to convene an extraordinarygeneral meeting or a class meeting as proposed by the shareholders,ornotprovideanyreplywithin10daysuponreceiptofthesaidrequest,theshareholdersshallproposetothesupervisorycommitteeinwritingtoconveneanextraordinarygeneralmeetingoraclassmeeting.Should the supervisory committee agree to convene anextraordinarygeneralmeetingoraclassmeeting,itshallissueanoticefor

	convening a shareholder's general meeting or a class meeting within 5daysofreceivingthesaidrequest.Priorapprovalformakingamendmenttotheoriginalproposalcontainedinthenoticeshallbeobtained from the original proposer. Should the supervisory committeenotissueanoticefortheshareholders'generalmeetingsoraclassmeetingwithinthestipulatedperiod,thesupervisorycommitteeshallbedeemedtonotconveneandpresideoversuchmeetingandshareholderswhoseparatelyorjointlyhold10%ormoreoftheCompany'ssharesforaconsecutive90daysormoremayconveneand preside over the said meeting. (Prior to the announcement of theresolutionsadoptedattheshareholders'generalmeeting,thesharesheldbytheconveningshareholdersshallnotbelessthan10%ofthetotal number of shares). The procedures for convening such meetingsshallbeidenticaltothoseemployedbytheboardofdirectorsforconveningashareholders'generalmeetingasfaraspracticable.
	Should the supervisory committee or the shareholders convene and hold ameetingpursuanttotherulesabove,theyshallinformtheboardofdirectorsinwriting,andsubmittheirapplicationstotherelevantsupervisorydepartmentsinaccordancewiththeapplicablerules.Theboardofdirectorsandthesecretarytotheboardofdirectorsshallprovideassistanceinconnectionwiththemeeting.Theboardofdirectorsshallprovidetheshareregister.TheCompanyshallbearallreasonablecostsincurredbythemeeting.ThecostsincurredshallbedeductedfromtheamountowedbytheCompanytosuchdirectorswhohavecommittednegligenceofduties.
Article92	The Chairman of the board of directors shall preside over and chair everyshareholders'generalmeeting.IftheChairmanisunabletoordoesnotperformhis/herduties,thevice-chairmanoftheboardofdirectorsshallpresideoverandchairthemeeting.Ifthevice-chairmanoftheboardofdirectors is unable to or does not perform his/her duties, a director jointlyelected by more than half of the number of Directors shall preside over andchairthemeeting.Ifthedirectorjointlyelectedbymorethanhalfofthenumber of Directors is unable to preside over and chair the meeting, thenshareholders present at the meeting may elect one (1) person to act as thechairman of the meeting. If for any reason, the shareholders fail to elect achairman,thentheshareholder(includingaproxy)holdingthelargestnumberofsharescarryingtherighttovotethereatshallbethechairmanofthemeeting.
	A shareholders' general meeting convened by the supervisory committee ontheirownshallbepresidedbythechairmanofthesupervisorycommittee.Ifthe chairman of the supervisory committee is unable to or does not performhis/herduties,asupervisorjointlyelectedbymorethanhalfofthenumberofsupervisorsshallpresideoverthesaidmeeting.

	Where the shareholders' general meeting is convened by the shareholders ontheirown,theconvenershallelectarepresentativetopresideoverthemeeting.
	Whenconveningashareholders'generalmeeting,shouldthepersonpresidingoverthemeetingviolatestherulesandprocedures,resultingthat the shareholders' general meeting becomes unable to proceed, a personmay, subject to the consent of more than half of the number of shareholderswithvotingrightsattendingthemeetingatthescene,beelectedattheshareholders'generalmeetingtoactasthepersonpresidingtheshareholders'generalmeetingsuchthatthemeetingmaybecontinued.
Article93	The chairman of the meeting shall be responsible for determining whether aresolutionhasbeenpassed.Hisdecision,whichshallbefinalandconclusive,shallbeannouncedatthemeetingandrecordedintheminutebook.TheCompanyshallmakeapublicannouncementontheresolutionsoftheshareholders'generalmeetinginaccordancewiththeapplicablelawsand the relevant provisions stipulated by the stock exchange(s) on which thesharesoftheCompanyarelistedandtraded.
Article94	If the chairman of the meeting has any doubt as to the result of a resolutionwhichhasbeenputtovoteatashareholders'meeting,hemayhavethevotes counted. If the chairman of the meeting has not counted the votes, anyshareholderwhoispresentinpersonorbyproxyandwhoobjectstotheresult announced by the chairman of the meeting may, immediately after thedeclarationoftheresult,demandthatthevotesbecountedandthechairmanofthemeetingshallhavethevotescountedimmediately.
Article95	Ifvotesarecountedatashareholders'generalmeeting,theresultofthecountshallberecordedintheminutebook.
	The Company secretary shall make the record of the shareholders' generalmeeting,whichshallbesignedbythepersonpresidingthemeeting(chairmanofthemeeting),directors,supervisors,boardsecretaryandconvenorattendingthemeetingortheirrepresentatives.
	Resolutions adopted by ashareholders' general meeting shallbe included intheminutesofthemeeting.TherecordandminutesofthemeetingshallbeinChinese.Suchrecordandminutes,shareholders'attendancelistsandproxyformsshallbekeptattheCompany'splaceofresidenceforaperiodofnotlessthan10years.

Article96	Copiesoftheminutesofproceedingsofanyshareholders'meetingshall,duringbusinesshoursoftheCompany,beopenforinspectionbyanyshareholderwithoutcharge.IfashareholderrequestsforacopyofsuchminutesfromtheCompany,theCompanyshallsendacopyofsuchminutestohimwithinseven(7)daysafterreceiptofreasonablefeestherefor.
CHAPTER9:SPECIALPROCEDURESFORVOTINGBYACLASSOFSHAREHOLDERS
Article97	Thoseshareholderswhoholddifferentclassesofsharesareclassshareholders.
	Classshareholdersshallenjoyrightsandassumeobligationsinaccordancewithlaws,administrativeregulationsandtheArticlesofAssociation.
Article98	Rightsconferredonanyclassofshareholdersmaynotbevariedorabrogated save with the approval of a special resolution of shareholders in ageneral meeting and by holders of shares of that class at a separate meetingconvened in accordance with Article 100 to Article 104 of these Articles ofAssociation.
Article99	Thefollowingcircumstancesshallbedeemedtobevariationorabrogationoftherightsattachingtoaparticularclassofshares:
	(1) toincreaseordecreasethenumberofsharesofthatclass,ortoincrease or decrease the number of shares of a class having voting orequity rights or privileges equal or superior to those of shares of thatclass;
	(2) to exchange all or part of the shares of that class for shares of anotherclass or to exchange or to create a right to exchange all or part of thesharesofanotherclassforsharesofthatclass;
	(3) toremoveorreducerightstoaccrueddividendsorrightstocumulativedividendsattachedtosharesofthatclass;
	(4) toreduceorremovepreferentialrightsattachedtosharesofthatclasstoreceivedividendsortothedistributionofassetsintheeventthattheCompanyisliquidated;
	(5) to add, remove or reduce conversion privileges, options, voting rights,transferorpre-emptiverights,orrightstoacquiresecuritiesoftheCompanyattachedtosharesofthatclass;
	(6) toremoveorreducerightstoreceivepaymentpayablebytheCompanyinparticularcurrenciesattachedtosharesofthatclass;

	(7) tocreateanewclassofshareshavingvotingorequityrightsorprivilegesequalorsuperiortothoseofthesharesofthatclass;
	(8) torestrictthetransferorownershipofsharesofthatclassortoincreasethetypesofrestrictionsattachingthereto;
	(9) toallotandissuerightstosubscribefor,ortoconverttheexistingsharesinto,sharesintheCompanyofthatclassoranotherclass;
	(10) toincreasetherightsorprivilegesofsharesofanotherclass;
	(11) torestructuretheCompanyinsuchawaysoastoresultinthedisproportionatedistributionof obligationsbetween the variousclassesofshareholders;
	(12) tovaryorabrogatetheprovisionsofthisChapter.
Article100	Shareholdersoftheaffectedclass,whetherornototherwisehavingtherighttovoteatshareholders'generalmeetings,havetherighttovoteatclassmeetingsinrespectofmattersconcerningsub-paragraphs(2)to(8),(11)and (12) of the preceding article, but interested shareholder(s) shall not beentitledtovoteatsuchclassmeetings.
	"(An)interestedshareholder(s)",assuchtermisusedintheprecedingparagraph,means:
	(1) in the case of a repurchase of shares by way of a general offer to allshareholders of the Company or by way of public dealing on a stockexchangepursuanttoArticle30,a"controllingshareholder"withinthemeaningofArticle60;
	(2) inthecaseofarepurchaseofsharesbyanoff-marketagreementpursuant to Article 30, a holder of the shares to which the proposedagreementrelates;
	(3) inthecaseofarestructuringoftheCompany,ashareholderwhoassumesarelativelylowerproportionofobligationthantheobligationsimposedonshareholdersofthatclassunder theproposedrestructuringorwhohasaninterestintheproposedrestructuringdifferentfromthegeneralinterestsoftheshareholdersofthatclass.

Article101	Resolutions of a class of shareholders shall be passed by votes representingmorethantwo-thirdsofthevotingrightsofshareholdersofthatclassrepresented at the relevant meeting who, according to Article 100 of theseArticlesofAssociation,areentitledtovotethereat.
	Where any shareholder is, under the applicable rules governing the listing ofsecurities as amended from time to time, required to abstain from voting inconnection with any particular resolution at a particular class meeting, or isrestrictedtovoteonlyfororonlyagainstanyparticularresolutionataparticularclassmeeting,anyvotecastbyoronbehalfofsuchshareholderincontraventionofsuchrequirementorrestrictionshallnotbecounted.
Article102	Written notice of a class meeting shall be given to all shareholders who areregisteredasholdersofthatclassintheregisterofshareholdersforty-five (45) days before the date of the class meeting. Such notice shall give suchshareholders notice of the matters to be considered at such meeting, the dateandtheplaceoftheclassmeeting.AshareholderwhointendstoattendtheclassmeetingshalldeliverhiswrittenreplyinrespectthereoftotheCompanytwenty(20)daysbeforethedateoftheclassmeeting.
	Iftheshareholderswhointendtoattendsuchclassmeetingrepresentmorethanhalfofthetotalnumberofsharesofthatclasswhichhavetherighttovote at such meeting, the Company may hold the class meeting; if not, theCompanyshallwithinfive(5)daysgivetheshareholdersfurthernoticeofthematterstobeconsidered,thedateandtheplaceoftheclassmeetingbywayofpublicannouncement.TheCompanymaythenholdtheclassmeetingaftersuchpublicannouncementhasbeenmade.
	Thequorumofanyclassmeeting(exceptfortheadjournment),whichisproposedtovarytherightsoftheabove-mentionedclassofshareholders,shall at least be one third of the total issued shares of the above-mentionedclass.
Article103	Noticeofclassmeetingsneedonlybeservedonshareholdersentitledtovotethereat.
	Classmeetingsshallbeconductedinamannerwhichisassimilaraspossibletothatofshareholders'generalmeetings.TheprovisionsoftheArticlesofAssociationrelatingtothemannerfortheconductofshareholders'generalmeetingsarealsoapplicabletoclassmeetings.
Article104	Apartfromtheholdersofotherclassesofshares,theholdersoftheAShares and holders of Overseas-Listed Foreign Shares shall be deemed to beholdersofdifferentclassesofshares.HoldersofOverseas-ListedForeignSharesshallbedeemedtobeholdersofthesameclassofshares.

	Thespecialproceduresforapprovalbyaclassofshareholdersshallnotapplyinthefollowingcircumstances:
	(1) wheretheCompanyissues,upontheapprovalbyspecialresolutionofits shareholders in a general meeting, either separately or concurrentlyonceeverytwelve(12)months,notmorethan20%ofeachofitsexistingissuedASharesandOverseas-ListedForeignShares;
	(2) wheretheCompany'splantoissueASharesandOverseas-ListedForeignShares atthetimeofitsestablishmentiscarriedoutwithinfifteen(15)monthsfromthedateofapprovaloftheauthorityinchargeofsecuritiesundertheStateCouncil.
CHAPTER10:THEPARTYCOMMITTEE
Article105	AccordingtotherequirementsoftheConstitutionoftheCommunistPartyofChinaandsubjecttotheapprovalbyupperPartyorganization,theCompanyshallestablishtheChineseCommunistPartyCommitteeofAirChinaLimited.ThePartyCommitteeiscomprisedofonesecretaryandseveralothermembers,andshallestablishtheCommissionforDisciplineInspectionofthePartyinaccordancewiththerequirements.
Article106	The Party Committee of the Company shall play a leading role, set the rightdirection, keep in mind the big picture, promote the implementation of Partypoliciesandprinciples,discussanddecideonmajorissuesoftheCompanyinaccordancewiththeregulations.Decisionsrelatingtomajoroperationandmanagementmattersshallbemadeinaccordancewithrelevantregulationsbytheboardofdirectorsorthemanagementafterthepre-studyanddiscussionbythePartyCommittee.ThemaindutiesofthePartyCommitteeareasfollows:
	(1) toenhancethepoliticalbuildingofthePartyintheCompany,adhereto and implement the fundamental system, basic system and importantsystem of socialism with Chinese characteristics, educate and guide allParty members to closely align with the Party Central Committee withComrade Xi Jinping at its core in terms of political stance, direction,principlesandpath;
	(2) tothoroughlystudyandimplementXiJinpingThoughtonSocialismwith Chinese Characteristics for a New Era, study and propagate theParty's theory, thoroughlyimplement theParty's line,principles andpolicies, supervise and guarantee the implementation of major strategydeployments of the Party Central Committee and the resolutions of thePartyorganizationatahigherlevelintheCompany;

	(3) toinvestigateanddiscussmajorissuesrelatingtotheoperationandmanagementoftheCompanyandsupporttheboardofdirectorsandthemanagementinexercisingtheirpowersandperformingtheirdutiesinaccordancewiththelaws;
	(4) tostrengthentheleadershipandgatekeepingroleintheprocessofselectionandappointmentofpersonneloftheCompany,andenhancethebuilding of the leadershipteam, thecadre teamand thetalent teamoftheCompany;
	(5) to undertake the main responsibility in improving Party conduct andupholding integrity, lead and support the internal discipline inspectioncommitteetodischargeitssupervisoryanddiscipliningresponsibilitiesaswellasexercisestrictadministrativedisciplineandpoliticalrulesandpromotePartyself-governanceexercisedfullyandwithrightintothegrassrootslevel;
	(6) tostrengthenthebuildingofprimary-levelPartyorganizationsandofits contingent of Party members, unite and lead employees to devotethemselvesintothereformanddevelopmentoftheCompany;
	(7) tolead the Company's ideologicaland politicalwork, the spiritandcivilizationprogress,theUnitedFrontworkandleadthemassorganizationssuchastheLabourUnion,theCommunistYouthLeagueandtheWomen'sOrganizationoftheCompany.
Article107	Byinsistingonandimprovingtheleadershipmechanismof"DualEntryandCrossAppointment",eligiblemembersofthePartyCommitteemaytake seats in the board of directors and the management through statutoryprocedures,whileeligiblemembersoftheboardofdirectorsandthemanagementwhoarealsoPartymembersmaytakeseatsinthePartyCommitteeinaccordancewithrelevantrequirementsandprocedures.
	Generally,thepositionofthesecretaryofthePartyCommitteeandthechairmanoftheboardofdirectorsshallbeassumedbythesameperson.ThepresidentwhoisaPartymembershallserveasthedeputysecretaryofthePartyCommittee.Thefull-timedeputysecretaryshouldgenerallytakeseatintheboardofdirectorsandholdnopositionsinthemanagement.

CHAPTER11:BOARDOFDIRECTORS
Article108	The Company shall have a board of directors. The board of directors shallconsist of 7 to 13 directors, at least half of which shall be outside directors(thosewhodonotassumeanypositionwithintheCompany),andofwhichat least 1/3 of the overall directors shall be independent directors (meaningdirectors who are independent from the Company's shareholders and do nothold offices within theCompany).At leastone independent directorshallhaveappropriateprofessionalqualification,orexpertiseinaccountingorrelatedfinancialmanagement;theboardofdirectorsshallhaveone(1)employeerepresentativedirector.
	Theboardofdirectorsshallhaveone(1)Chairmanandone(1)DeputyChairman.
Article109	Directors(excludingtheemployeerepresentativedirector)shallbeelectedorreplacedattheshareholders'generalmeetingandtheemployeerepresentativedirectorshallbeelectedordismissedbytheemployeerepresentative meetingeach for a term of 3 years (starting from the electiondatetothedateonwhichanewboardofdirectorsiselectedatashareholders'generalmeeting).Attheexpiryofadirector'sterm,thetermis renewable upon re-election, provided that the term of reappointment of anindependentdirectorshallnotbemorethan6years.
	Ifthetermofofficeofadirectorexpiresbutre-electionisnotmadepromptly,thesaiddirectorshallcontinuefulfillingthedutiesasdirectorpursuant to relevant laws,administrative regulations, departmentalrules andtheArticlesofAssociationuntilanewdirectoriselected.
	Thelistofcandidatesforthedirector(excludingtheemployeerepresentativedirector)shallbesubmittedinformofamotiontoashareholders'generalmeetingforconsideration.Candidatesotherthanthosefor independent directors and the employee representative director shall benominatedbytheboardofdirectors,supervisorycommitteeorshareholder(s)holding,aloneortogether,morethanthreepercent(3%)ofthetotalamountofvotingsharesintheCompanyandelectedattheshareholders'generalmeeting.
	Awrittennoticeoftheintentiontoproposeapersonforelectionasadirector(excludingtheemployeerepresentativedirector)andanoticeinwriting by that person indicating his acceptanceof such election shall havebeengiventotheCompanyseven(7)daysbeforethedateofsuchshareholders'generalmeeting.Theshortestnoticeperiodforsuchwrittennoticeshallbe7days.

	Theoutsidedirectorsshallhavesufficienttimeandnecessaryknowledgeandabilitytoperformitsduties.Whenanoutsidedirectorperformshisduties,theCompanymustprovidenecessaryinformationandindependentdirectors may directly report to the shareholders' meeting, the authority inchargeofsecuritiesoftheStateCouncilandotherrelevantdepartmentsthereon.
	Ifadirectorisanaturalperson,heorshemaynotberequiredtoholdsharesintheCompany.
Article110	Thefollowingproceduresshallbecarriedoutpriortotheelectionofthenon-independentdirectors:
	(1) Thenominatorofa candidatefor thenon-independentdirectorsshallseektheconsentofsuchcandidatepriortonominationandshallhaveafullunderstandingtowardstheprofession,education,jobposition,detailedworkingexperienceandallotherpositionsheldconcurrentlyaswellaspreparingwrittenmaterialscontainingthesaidinformationtotheCompany.CandidatesshallundertaketotheCompanyinwritingthattheyhaveagreedtoacceptthenominationandthatalldisclosed information relating to them are true and complete and shallguaranteethattheywillconscientiouslyperformthedirector'sresponsibilitiesafterbeingelected.
	(2) If the nomination of a candidate for the non-independent directors istakenplacebeforetheboardmeetingoftheCompanywasconvenedand if the applicable law, regulations and/or the relevant listing rulescontainrelevantprovisions,thewrittenmaterialsconcerningthenominee set out in sub- paragraph (1) of this Article shall be publiclyannouncedtogetherwiththeresolutionsoftheboardmeetinginaccordancewithsuchprovisions.
	(3) Ifashareholderholding,aloneortogether,morethanthreepercent(3%)ofthetotalvotingsharesoftheCompanyproposesanextemporemotionontheelectionofnon-independentdirectors(excludingtheemployeerepresentativedirector)attheshareholders'generalmeetingoftheCompany,thewrittennoticespecifyingtheintentiontoproposeapersonforelectionasadirectorandthewillingnessofthenomineetoacceptnominationtogetherwiththewrittenmaterialsandundertakingscontainingsuchparticularsofthenomineeassetoutinsub-paragraph(1)ofthisArticleshallbedespatchedtotheCompanywithinten(10)dayspriortotheshareholders'generalmeeting.Suchnoticeshallcommencenoearlierthanthedayafterthedespatchofthenoticeofthemeetingforelectionofdirectorsandendnolaterthanseven(7)dayspriortothedateofsuchmeeting.

Article111	At a shareholders' general meeting, the cumulative voting system shall beadopted for voting on the motions for election of directors (excluding theemployeerepresentativedirector).Inotherwords,whenelectingtwoormoredirectorsatashareholders'generalmeeting,thenumberofvotingrightscarriedbyeachofthesharesheldbyavotingshareholderisthesameasthenumberofdirectorstobeelectedsuchthatashareholdermayexercisethevotingrightsinawaytoconcentrateallhisvotesonaparticularcandidateortospreadhisvotesonseveralcandidates.
Article112	TheChairmanand the deputyChairmenshall beelected andremoved bymorethanone-halfofallmembersoftheboardofdirectors.ThetermofofficeofeachoftheChairmanandthedeputychairmenshallbe3years,whichtermisrenewableuponre-election.
Article113	TheboardofdirectorsshallmakeinquirieswiththePartycommitteebeforemakingdecisionsonmajorissuesoftheCompany.
Article114	Theboardofdirectorsisresponsibletotheshareholders'generalmeetingfor formulating strategies, making decisions and preventing risks and shallexercisethefollowingdutiesandpowersinaccordancewithstatutoryproceduresandtheArticlesofAssociation:
	(1) toberesponsiblefortheconveningoftheshareholders'generalmeetingandtoreportonitsworktotheshareholdersingeneralmeetings;
	(2) toimplementtheresolutionspassedbytheshareholdersingeneralmeetings;
	(3) todeterminetheCompany'sbusinessplansandinvestmentproposals;
	(4) toformulatetheCompany'spreliminaryandfinalannualfinancialbudgets;
	(5) toformulatetheCompany'sprofitdistributionproposalandlossrecoveryproposal;
	(6) toformulateproposalsfortheincreaseorreductionoftheCompany'sregisteredcapitalandfortheissuanceoftheCompany'sdebentures;
	(7) todrawuptheCompany'sproposalsforthemerger,division,dissolutionorchangeoftheformoftheCompany;

	(8) todecideonotherissuesrelatingtotheprovisionofguaranteeinfavorof a third party other than those must be approved at a shareholders'generalmeetingpursuanttothelaws,administrativeregulationsandtheseArticlesofAssociation;
	(9) todecideontheexternalinvestments,purchaseandsaleofassets,creationofmortgageoverassets,entrustedassetmanagement,connectedtransactionsandothermatterswithinthescopeofauthorizationconferredbytheshareholders'generalmeeting;
	(10) todecideontheCompany'sinternalmanagementstructure;
	(11) toappointordismissthepresidentoftheCompany,secretarytotheboardofdirectors,conductappraisalontheirperformanceanddetermineremunerations;andtoappointordismiss,withreferencetothenominationbythepresident,thevicepresidents,chiefaccountant,chiefpilot,generallegalcounselandotherseniorofficers,conductappraisalontheirperformanceanddetermineremunerations;
	(12) toformulatethebasicmanagementstructureoftheCompany;
	(13) tomanagemattersrelatingtothedisclosureofinformationbytheCompany;
	(14) tomakerecommendationstotheshareholders'generalmeetingsonthe appointment or change of the accounting firm which performs theauditworkfortheCompany;
	(15) tohearfromtheCompany'spresidentreportsonworkperformedandtoinspecttheworkofthepresident;
	(16) toformulateproposalsforanyamendmentoftheCompany'sArticlesofAssociation;
	(17) todeterminetheriskmanagementsystem,theinternalcontrolsystemandthelegalcompliancemanagementsystemoftheCompany,andmonitortherelevantsystemsandtheirimplementation;
	(18) toguide,inspectandassesstheinternalauditworksandapprovetheannualauditplanandimportantauditreportspursuanttolaws;
	(19) topromotethedevelopmentofcorporategovernanceandsupervisethelegalityoftheoperationofthemanagement;

	(20) toexerciseanyotherpowersconferredbytheshareholdersingeneralmeetingsandtheseArticlesofAssociations.
	Resolutions by the board of directors on matters referred to in the precedingparagraph may be passed by the affirmative vote of more than half of thedirectors(amongstwhichresolutiononmattersreferredtoinsub-paragraph (8) shall require the affirmative vote of more than two-thirds of the directorspresent at the board meeting) with the exception of resolutions on mattersreferredtoinsub-paragraphs(6),(7)and(16)whichshallrequiretheaffirmativevoteofmorethantwo-thirdsofallthedirectors.
	Ifanydirectorisconnectedwiththeenterprisesthatareinvolvedinthematterstoberesolvedbytheboardmeetings,heshallnotexercisehisvotingrightsforsuchmatters,norshallheexercisevotingrightsonbehalfofotherdirectors.Suchboardmeetingsshallbeconvenedbyamajorityofthedirectorspresentthereatwhoarenotconnected.Resolutionsmadebythe board meetings shall be passed by a majority of the directors that are notconnected. The aforementioned matters that must be passed by two-thirds ormore of the directors shall be passed by votes of two-thirds or more of thedirectors that are not connected. If the number of non-connected directorsattendingtheboardmeetingsfallsshortofthree,suchmattersshallbesubmittedtotheshareholders'generalmeetingoftheCompanyforapproval.
	ResolutionsmadebytheboardofdirectorsontheCompany'sconnectedtransactionsshallcomeintoeffectonlyaftertheyaresignedbytheindependentdirectors.
Article115	TheChairmanoftheboardofdirectorsandthepresidentmayexercisepartofthefunctionsandpowersoftheboardofdirectorsuponauthorizationbythe board of directors. The authorization by the board of directors and theexerciseoftheauthorizedfunctionsandpowersbytheauthorizedpersonshall comply with the relevant regulations of the Measures for AuthorizationManagement,whichisformulatedbytheboardofdirectors.
Article116	Theboardofdirectorsshallnot,withoutthepriorapprovalofshareholdersinageneralmeeting,disposeoforagreetodisposeofanyfixedassetsoftheCompanywheretheestimatedvalueoftheconsiderationfortheproposeddisposalandthevalueoftheconsiderationforanysuchdisposalofanyfixedassetsoftheCompanythathasbeencompletedintheperiodof 4monthsimmediatelyprecedingtheproposeddisposal,onanaggregatebasisexceeds33%ofthevalueoftheCompany'sfixedassetsasshowninthelatestbalancesheetwhichwasconsideredatashareholders'generalmeeting.

	For the purposes of this Article, "disposition" includes an act involving thetransfer of an interestin assets but does not includethe usage of fixed assetsfortheprovisionofsecurity.
	ThevalidityofadispositionbytheCompanyshallnotbeaffectedbyanybreachofthefirstparagraphofthisArticle.
	Beforetheboardofdirectorsmakesadecisiononmarketdevelopment,merger and acquisition, investment in new areas, etc., in relation to projectsinvolvinginvestmentoracquisitionormergerexceedingacertainproportion(tobedeterminedby shareholders'meeting)ofthetotalassetsoftheCompany,anindependentconsultingagencyshallbeengagedtoprovideprofessionalopinionswhichshallbeanimportantbasisofthedecisionsoftheboardofdirectors.
Article117	Unlessotherwiseprovidedforinthelaws,regulationsand/ortherelevantlisting rules, the board of directors shall, within the scope of authority asconferredbytheshareholders'generalmeeting,havetherighttodecideonaninvestment(includingriskinvestment)oracquisitionproject.Foranymajorinvestmentoracquisitionprojectwhichisbeyondthelimitsofauthorityoftheboardofdirectorstoexamineandapprovethereof,theboardofdirectorsshallorganizetherelevantexpertsandprofessionalstoconductanevaluationthereofandreportthesametotheshareholders'generalmeetingforapproval.
Article118	Theboardofdirectorsmayestablishthestrategyandinvestmentcommittee,the audit and risk management committee (the supervision committee), thenomination and remuneration committee, the aviation safety committee andotherspecialcommittees.Themembers'composition,dutiesandresponsibilities, and procedures of each special committee of the board ofdirectorsarespecificallydeterminedaccordingtothetermsofreferenceofeachspecialcommittee,whicharedrawnupbytheboardofdirectors.
Article119	TheChairmanoftheboardofdirectorsshallexercisethefollowingpowers:
	(1) topresideovershareholders'generalmeetingsandtoconveneandpresideovermeetingsoftheboardofdirectors;
	(2) tocheckontheimplementationofresolutionspassedbytheboardofdirectorsatdirectors'meetings;
	(3) tosignthesecuritiescertificatesissuedbytheCompany;

	(4) tosignimportantdocumentsoftheboardofdirectorsandotherdocumentsthatshallbesignedbythelegalrepresentativeoftheCompany;
	(5) toexercisetheauthoritiesoflegalrepresentative;
	(6) toreceivereportsonoperationandmanagementandstudyrelatedissues;
	(7) tomanagetheinternalauditoftheCompanyastheprimaryresponsiblepersonforinternalauditwork;
	(8) intheeventofemergencyduetoforcemajeureormajorcrisisthatmakes it impossible to convene a board meeting in a timely manner, toexercise special disposal powers within the authority of the board ofdirectorsinaccordancewithlawsandregulationsandintheinterestsoftheCompany,andtoreporttotheboardofdirectorsafterexercising such power so as to ratify the same in accordance with theprocedures;
	(9) toexerciseotherpowersconferredbytheboardofdirectors.
	The vice chairman of the board of directors shall assist the chairman of theboard of directors with his/her duties. Should the chairman of the board ofdirectorsbeunabletoperformorfailtoperformhis/herduties,thevicechairmanoftheboardofdirectorsshallperformthesaidduties.Shouldthevicechairmanoftheboardofdirectorsbeunabletoperformorfailtoperform his/her duties, a director jointlyelected by more than halfof thenumberofDirectorsshallperformthesaidduties.
Article120	Meetingsoftheboardofdirectorsshallbeheldatleastfourtimeseveryyear and shall be convened by the Chairman of the board of directors. Alldirectorsandsupervisorsshallbenotifiedofthemeetingfourteendaysbeforehand.Thenoticeoftheboardmeetingsshallcontain:
	(1) date,venueanddurationofthemeeting;
	(2) reasonsandmattersfordiscussion;
	(3) dateofissuanceofthenotice.

	ExtraordinarymeetingoftheboardofdirectorsshallbeconvenedbytheChairmanwithin ten daysof the occurrenceof anyofthefollowing eventsandshallnotbesubjecttotheabovementionedperiodofnotice:
	(1) whereshareholdersrepresentingmorethan10%ofthevotingrightsproposetodoso;
	(2) wherethechairmanoftheboardofdirectorsdeemsitnecessary;
	(3) whereone-thirdormoreofthedirectorsjointlyproposetodoso;
	(4) whereonehalformoreoftheindependentdirectorsjointlyproposetodoso;
	(5) wherethesupervisorycommitteeproposestodoso;
	(6) wherethepresidentproposestodoso;
	(7) wherethesecuritiesregulatoryauthorityrequirestodoso;and
	(8) whereothercircumstancesspecifiedintheArticlesofAssociationoftheCompanyoccur.
	The meetingsof the board of directors shall be conducted in Chinese andwherenecessary,may haveaninterpreter toprovideChineseandEnglishtranslationduringthemeetings.
Article121	Thenoticeofboardmeetingshallbeissuedviathefollowingmethods:
	(1) For periodic meetings of the board of directors of which the time andvenue have been stipulated by the board of directors beforehand, nonoticeoftheconveningofsuchmeetingswillbeneeded.
	(2) For meetings of the board of directors of which the time, venue andagenda havenot been decidedby the boardofdirectorsbeforehand,thesecretaryoftheboardofdirectorsshallnotifythedirectorsandsupervisors of the time and venue of such meeting at least 14 days inadvance by telex, by telegram, by facsimile, by express service or byregisteredmailorinpersonorbyemail,unlessotherwiseprovidedforinArticle120herein.
	(3) NoticeofmeetingsmaybeservedinChinese,withanEnglishtranslation attached thereto when necessary. A director may waive hisrighttoreceivenoticeofaboardmeeting.

Article122	AlldirectorsmustbenotifiedabouttheimportantmattersthatshallbedecidedbytheboardofdirectorswithinthetimelimitstipulatedinArticle 121oftheseArticlesofAssociationandsufficientmaterialsshallbeprovided at the same time in strict compliance with the required procedures.Directorsmayrequestforsupplementaryinformation.Ifmorethanone-fourth of the directors or more than two outside directors consider that thematerialsprovidedarenotsufficientorsupportingargumentsarenotclear,theymayjointlyproposetopostponetheboardmeetingorpostponethediscussion of certainmatterson the agenda ofthe boardmeeting and theboardofdirectorsshallacceptsuchproposal.
	Notice of a meeting shall be deemed to have been given to any director whoattendsthemeetingwithoutprotestingagainst,beforeoratitscommencement,anylackofnotice.
	Inprinciple,theboardmeetingsshallbeconvenedintheformofon-sitemeetings.Whenthedirectorshavesufficientinformationtovote,theymayalsopasstheresolutionbyformsofcommunicationsuchasvideoconferenceandteleconference,oracombinationofonsitemeetingandother forms of communication or present such information in writing to beconsideredseparatelyasawrittenresolution.Ifaboardmeetingisheldintheformofateleconference,withtheaidofsimilarcommunicationequipmentoracombinationofonsitemeetingandtheaforementionedformsof communication, so long as the directors participating in the meeting canclearly hear and communicate with each other, they shall be deemed to bepresentinpersonatthemeeting.
Article123	Aboard ofdirectorsmeeting shallonlybe convened if a majorityof thenumber of the board members are present (including any directors appointedpursuanttoArticle120oftheseArticlesofAssociationtoattendthemeetingastherepresentativesofotherdirectors).Eachdirectorhasonevote.Anyresolutionrequirestheaffirmativevotesofmorethanhalfofallthe board of directors in order to be passed. In the case of equal division ofvotes,theChairmanoftheboardofdirectorsisentitledtoacastingvote.
Article124	Directorsshallattendthemeetingsoftheboardofdirectorsinperson.Where a director is unable to attend a meeting for any reason, he may by awrittenpowerofattorneyappointanotherdirectortoattendtheboardmeeting on his behalf. The power of attorney shall set out the names of theproxies,thematterstobedealtwithbytheagents,thescopeoftheauthorization and the effective term thereof. The powers of attorney shall besignedorsealedbytheprincipals.

	A Director appointed as the representative of another director to attend themeeting shall exercise the rights of a director within the scope of authorityconferred by the appointing director. Where a director is unable to attend ameeting of the board of directors and has not appointed a representative toattendthemeetingonhisbehalf,heshallbedeemedtohavewaivedhisrighttovoteatthemeeting.
	Directors shall be deemed to be failed to carry out their duties if they fail toattend two consecutive board meetings in person and to appoint an alternatedirectortoattendboardmeetingsontheirbehalf.Theboardofdirectorsshall propose at the shareholders' general meeting for the removal of suchdirectors.
	Expensesincurredbyadirectorforattendingameetingoftheboardofdirectors shall be paid by the Company. These expenses include the costs oftransportationbetweenthepremisesofthedirectorandthevenueofthemeeting in different cities and accommodation expenses during the meeting.Rentofthemeetingplace,localtransportationcostsandotherreasonableout-of-pocketexpensesshallbepaidbytheCompany.
Article125	The board of directors may accept a written resolution in lieu of a boardmeeting provided that a draft of such written resolution shall be delivered toeach director in person, by mail, by telegram or by facsimile. If the board ofdirectorshasdeliveredsuchproposedwrittenresolutiontoallthedirectorsand the directors who signed and approved such resolution have reached therequiredquorum, andthe samehavebeen delivered tothe secretary of theboardofdirectors,then suchresolutionshalltake effectasa resolutionoftheboardmeeting,withouthavingtoholdaboardmeeting.
Article126	TheboardofdirectorsshallkeepminutesofresolutionspassedatmeetingsoftheboardofdirectorsinChinese.Thedirectorsattendingtheboardmeetingshallhavethe righttorequest tohave thedescriptive informationon their speech given thereat to be recorded in the minutes. Opinions of theindependent(non-executive)directorsshallbeclearlystatedintheresolutionsoftheboardofdirectors.Theminutesofeachboardmeetingshallbeprovidedtoallthedirectorspromptly.DirectorswhowishtoamendorsupplementtheminutesshallsubmittheproposedamendmentstotheChairmaninwritingwithinoneweekafterreceiptofthemeetingminutes.The minutes shall be signed by the directors present at the meeting and thepersonwhorecordedtheminutesaftertheyarefinalised.TheminutesofboardmeetingsshallbekeptatthepremisesoftheCompanyinthePRCand a complete copy of the minutes shall be promptly sent to each director.Documentsofmeetingsshallbekeptaspermanentrecords.

Article127	Whereawrittenresolutionisreachedintheabsenceofthestatutoryprocedures but has been signed by the directors, even if each director hasexpressedhis/herviewindifferentways,suchresolutionoftheboardmeetingshallhavenolegaleffect.
	If a resolutionofthe meeting ofthe board ofdirectors violatesthe laws,administrativeregulationsortheCompany'sArticlesofAssociation,thedirectors who participated in the passing of such resolution shall be directlyliable therefor. However, if it can be proven that a director had expresslyobjected to the resolution when the resolution was voted on, and that suchobjection was recorded in the minutes of the meeting, such director may bereleased from such liability. A director who abstained from voting or wasabsence from the meeting without appointing a proxy to attend on his or herbehalfmaynotbereleasedfromsuchliability.Adirectorwhohadexpresslyobjectedtotheresolutionduringdiscussionbuthadnotclearlyvoteagainstsuchmotionmaynotbereleasedfromsuchliability.
Article128	Subject to all relevant laws and administrative regulations, the shareholders'generalmeetingmayremoveanydirector(excludingtheemployeerepresentativedirector)byanordinaryresolutionbeforetheexpirationofhistermofoffice.However,thedirector'srighttoclaimfordamagesarisingfromhisremovalshallnotbeaffectedthereby.
Article129	Adirectormayresignpriortotheexpirationofhistermofoffice.Ifadirectorresignsfromhisoffice,heshallsubmitawrittenreportofhisresignation to the board of directors. Independent directors shall provide anexplanation on the circumstances which are relevant to his resignation andwhichinhisopinionarenecessarytobringtotheattentionoftheshareholdersandcreditorsoftheCompany.
	If the resignation of a director will result in the board of directors of theCompany having less than the statutory minimum number of directors, thensuch director's report of resignation shall only become effective after a newindependent director has been appointed to fill the vacancy so caused by hisresignation.TheCompanyshallconveneanadhocmeetingoremployeerepresentative meeting as soon as possible to elect a director to fill up thevacancyarisingfromtheresignationofthedirector.Beforeadecisionismadeattheshareholders'generalmeetingortheemployeerepresentativemeetingregardingtheelectionofthedirector,thefunctionsandpowersoftheresigningdirectorandtheremainingboardofdirectorshallberestrictedtoareasonableextent.

	IftheresignationofanindependentdirectorwillresultintheboardofdirectorsoftheCompanyhavinglessthantheminimumrequiredproportionofindependentdirectorsasrequiredbytherelevantregulatoryauthority,thensuchindependentdirector'sreportofresignationshallonlybecomeeffectiveafteranewindependentdirectorhasbeenappointedtofillthevacancysocausedbyhisresignation.
	Otherthanconditionsaforementioned,theresignationofdirectorshallbeeffectiveuponthedeliveryofitsresignationreporttotheboardofdirectors.
CHAPTER12:INDEPENDENTDIRECTORS
Article130	Candidates for the independent directors shall be nominated by the board ofdirectors, supervisory committee or shareholder(s) holding, whether alone ortogether,onepercent(1%)ormoreofthetotalamountofvotingsharesintheCompanyandelectedatshareholders'generalmeeting.
	(1) Thenominatorofacandidatefortheindependentdirectorsshallseekthe consent of such candidate prior to nomination and shall have a fullunderstanding towards the profession, education, job position, detailedworkingexperienceandallotherpositionsheldconcurrentlyaswellaspreparingwrittenmaterialscontainingthesaidinformationtotheCompany.CandidatesshallundertaketotheCompanyinwritingthattheyhaveagreedtoacceptthenominationandthatalldisclosedinformation relating to them are true and complete and shall guaranteethattheywillconscientiouslyperformthedirector'sresponsibilitieswhenelected.
	(2) Thenominatorshallprovidehisopinioninconnectionwiththequalificationandindependencyofsuchnomineesforactingasanindependentdirector.Iftheapplicablelaw,regulationsand/ortherelevant listing rules contain the relevant provisions, the nominee shallmake a public statement in accordance with such provisions that theredoesnotexistanyrelationshipbetweenhimselfandtheCompanywhichmayinfluencehisindependentobjectivejudgement.
	(3) If the nomination of a candidate for the independent directors is takenplace before the board meeting of the Company is convened and if theapplicable law, regulations and/or the relevant listing rules contain therelevantprovisions,thewrittenmaterialsconcerningthenomineesetoutinsub-paragraphs(1)and(2)ofthisArticleshallbepubliclyannouncedtogetherwiththeresolutionsoftheboardmeetinginaccordancewithsuchprovisions.

	(4) Ifashareholderholding,aloneortogether,morethan3%ofthevotingrightoftheCompanyorthesupervisorycommitteeproposesanextemporemotionontheelectionofnon-independentdirectors,thewrittennoticespecifyingtheintentiontoproposeapersonforelectionas a director and the willingness of the nominee to accept nominationtogetherwiththewrittenmaterialsandundertakingscontainingsuchparticularsof the nomineeasset outinsub-paragraphs(1) and(2) ofthisArticleshallbedespatchedtotheCompanywithinten(10)dayspriortotheshareholders'generalmeeting.
	(5) Beforeageneralmeetingofshareholdersisconvenedtoelectindependentdirectors,iftheapplicablelaw,regulationsand/ortherelevantlistingrulescontaintherelevantprovisions,theCompanyshallinaccordancewithsuchprovisionssubmitrelevantmaterialsregardingallnomineestotheauthorityinchargeofsecuritiesoftheStateCounciland/oritslocalresidenceofficeandthestockexchangesonwhichtheCompany'ssharesarelisted.Iftheboardofdirectorsofthe Company objects to the qualifications of the nominees, a writtenopinion of the board of directors in connection therewith shall also besubmittedatthesametime.Iftheauthorityinchargeofsecuritiesofthe StateCouncil has an objectiontoa nominee,such nomineeshallnot qualified to be a candidate for election as an independent director.When convening a shareholders' general meeting to elect independentdirectors,theboardofdirectorsoftheCompanyshallexplainwhetherornottheauthorityinchargeofsecuritiesoftheStateCouncilhadanyobjectiontoanyofthecandidatesforindependentdirectors.
Article131	Apersonactingasanindependentdirectorshallfulfilthefollowingbasicrequirements:
	(1) he or she shall possess the qualifications to act as the director of theCompanyinaccordancetherelevantlaws,administrativeregulationsandotherrelevantregulations;
	(2) he or she conforms with independence required by the relevant laws,administrativeregulations,departmentrulesandregulationsandthelistingrules;
	(3) heorshepossessesthebasicknowledgeofoperationofalistedcompanyandisfamiliarwithrelevantlawsandadministrativeregulationsaswellasrulesandregulations(includingbutnotlimitedtotheaccountingprinciples);

	(4) heorsheshallhavenotlessthan5yearsexperienceinlaw,economicsorotherworkingexperiencenecessaryforperformingdutiesofanindependentdirector;
	(5) heorsheshallfulfilotherconditionsasprovidedforintheseArticlesofAssociation.
Article132	Independentdirectorsshallhaveindependence.Unlessotherwiserequiredbytherelevantlaws,administrativeregulationsand/ortherelevantlistingrules,noneofthefollowingpersonsshallactasindependentdirectors:
	(1) persons workingin the Company or itssubsidiaries, as well as theirdirectfamilymembersormajorsocialrelations(inwhichdirectfamily members refer to their spouses, parents and children etc.; andmajorsocialrelationsrefertosiblings,parents-in-law,sonsordaughters-in-law,spousesoftheirsiblingsandsiblingsoftheirspousesetc.);
	(2) naturalpersonshareholdersaswellastheirdirectfamilymemberswho directly or indirectly hold not less than one percent (1%) of theissuedsharesoftheCompanyorwhoarerankedasthetoptenshareholdersoftheCompany;
	(3) personsaswellastheirdirectfamilymemberswhoworkinentitieswhicharesuchshareholdersoftheCompanydirectlyorindirectlyholdingnotlessthanfivepercent(5%)ofthesharesoftheCompanyinissueorwhicharerankedasthetopfiveshareholdersoftheCompany;
	(4) personswhohavesatisfiedtheconditionsstatedintheabovethreesub-paragraphswithinthemostrecentyear;
	(5) personswhoprovidefinancial,legalandconsultationservicesandotherwisetotheCompanyoritssubsidiaries;
	(6) personswhoaredeterminedbytheauthorityinchargeofsecuritiestobeunqualifiedtoactasindependentdirectors.

Article133	Ifanindependentdirectorfailstoattendthreeconsecutiveboardmeetingsin person, the board of directors shall propose at the shareholders' generalmeetingthatsuchindependentdirectorshouldberemoved.Exceptforcircumstancesdescribedabove,thecircumstancesasprovidedforinthethirdparagraphofArticle124oftheseArticlesofAssociationandthosesetout in the Company Law that a person is unqualified to act as a director, anindependentdirectorshallnotberemovedwithoutcausefromhisofficebefore the expiration of his term of office. Where an independent director isremovedfromofficepriortotheexpirationofhis/hertermofoffice,theCompanyshallmakespecialdisclosureinrelationthereto.Theremovedindependent director may make a public statement if he believes that he hasbeenimproperlyremovedfromhisoffice.
Article134	ApartfromsuchpowersasconferredonadirectorundertheCompanyLawand other relevant laws and regulations and the Articles of Association, anindependentdirectorshallalsohavethefollowingspecialfunctionsandpowers:
	(1) withrespecttothematerialconnectedtransactions(asdeterminedbasedonthestandardspromulgatedfromtimetotimebythecompetentregulatorydepartments)andtheappointmentorremovalofan accounting firm that are subject to be considered at a shareholders'generalmeetinginaccordancewiththelaws,regulationsand/ortherelevant listing rules, if the applicable law, regulations and/or relevantlistingrulescontaintherelevantprovisions,thetransactionsandappointmentandremovalsetoutaboveshallbeendorsedbynotlessthanone-half(1/2)oftheindependentdirectorsbeforesubmittingtotheboardofdirectorsfordiscussion.NoneoftheresolutionreachedbytheboardofdirectorswithrespecttotheconnectedtransactionsenteredintobytheCompanyshallbecomeeffectiveunlesssuchresolutionissignedbytheindependentdirectors.Priortomakingajudgment,theindependentdirectorsmayappointanintermediarytoissueanindependentfinancialadviser'sreportasabasisoftheirjudgment.
	(2) Heorshemaygiverecommendationstotheboardofdirectorsastothe engagement, ortermination ofthe engagement, ofan accountingfirm;
	(3) Heorshemayproposetotheboardofdirectorstoconveneanextraordinarygeneralmeeting;
	(4) Heorshemayproposetoconveneaboardmeeting;
	(5) Heorshemayengageexternalauditorsoradvisersindependently;

	(6) Heorshemaysolicitvotesfromshareholderspriortotheshareholders'generalmeeting;
	(7) He or she may directly report the relevant issues to the shareholders'generalmeeting,theauthorityinchargeofsecuritiesoftheStateCouncilandotherrelevantdepartments.
	An independent director shall obtain the consent from not less than one-half(1/2)ofallindependentdirectorsforexercisingtheirfunctionsandpowersinthecaseofexercisinghis/herfunctionsasdescribedinsub-paragraphs(2),(3),(4),(6)and(7)ofthisArticlesetoutabove,andtheunanimousconsentfromallindependentdirectorsinthecaseofexercisinghis/herfunctionsasdescribedinsub-paragraph(5)ofthisArticleassetoutabove.
Article135	Apartfromthedutiessetforthabove,independentdirectorsshallalsoexpresstheirindependentopiniononthefollowingmajormatterstotheboardofdirectorsoratashareholders'generalmeeting:
	(1) nominationorremovalofdirectors;
	(2) appointmentorremovalofseniorofficers;
	(3) theremunerationofdirectorsandseniorofficers;
	(4) matterswhichtheindependentdirectorsbelievemayimpairtherightsandinterestsofminorityshareholders;
	(5) materialfinancialtransactionsbetweentheCompanyanditsshareholders,defactocontrollingpersonortheiraffiliates;
	(6) profitdistributionplanproposedtotheboardofdirectorsoftheCompanyfortheirreviewandconsideration;
	(7) failureoftheboardofdirectorsoftheCompanytoproduceproposalinconnectionwithprofitdistributionincash;
	(8) othermattersprovidedforbytheapplicablelawsandregulations,departmentalrulesorthearticlesofassociationoftheCompany.
	Independentdirectorsshallgiveoneofthefollowingopinionsinrelationtotheabovematters:agree;qualifiedopinionandreasonstherefore;opposeandreasonstherefore;unabletoformanopinionandtheimpedimentstodoingso.

Article136	Independentdirectorsshallsubmitanannualworkingreporttotheshareholders'generalmeetingtogiveanaccountoftheperformanceoftheirduties.
CHAPTER13:SECRETARYOFTHEBOARDOFDIRECTORS
Article137	TheCompanyshallhaveone(1)secretaryoftheboardofdirectors.ThesecretaryshallbeaseniorofficeroftheCompany.
	Theboardofdirectorsshallestablishasecretariatoftheboardofdirectors.
Article138	ThesecretaryoftheCompany'sboardofdirectorsshallbeanaturalpersonwho has the requisite professional knowledge and experience, and shall beappointedbytheboardofdirectors.
	Themaintasksanddutiesofthesecretaryoftheboardofdirectorsinclude:
	(1) assisttheboardofdirectorsoftheCompanytostrengthenthedevelopmentofmodernenterprisesystemandcorporategovernancemechanismwithChinesecharacteristics,organizeresearchoncorporategovernanceandorganizetheformulationofrulesandregulationsinrelationtocorporategovernance;
	(2) toorganizetheimplementationofthecorporategovernancesystemandmanagetherelevantaffairs;
	(3) assist the directors in the day-to-day work of the board of directors,continuouslyprovidethedirectorswith,advisethedirectorsofandensurethatthedirectorsunderstandtheregulations,policiesandrequirements of the foreign and domestic regulatory authorities on theoperationoftheCompany,assistthedirectorsandthepresidentineffectivelycomplyingwithrelevantforeignanddomesticlaws,regulations,theCompany'sArticlesofAssociationand otherrelevantregulations;
	(4) responsiblefortheorganizationandpreparationofdocumentsforboardmeetingsandshareholders'meetings,takepropermeetingminutes,ensurethattheresolutionspassedatthemeetingscomplywithstatutoryproceduresandsupervisetheimplementationoftheresolutionsoftheboardofdirectors;
	(5) responsiblefortheorganizationandcoordinationofinformationdisclosure,coordinatetherelationshipwithinvestorsandenhancetransparencyoftheCompany;

	(6) participateinarrangingoffinancingthroughcapitalmarkets;
	(7) dealwithintermediaries,regulatoryauthoritiesandmedia,maintaingoodpublicrelationswork;
	(8) assisttheChairmaninformulatingmajorproposals,establishingoramendingvariousrulesandregulationsfortheoperationoftheboardofdirectors;
	(9) executeothertasksassignedbytheboardofdirectorsorthechairmanoftheboardofdirectors;
	(10) other duties as stipulated by laws, administrative regulations, rules andthelistingrulesofthejurisdictionsinwhichthesharesoftheCompany are listed and other regulatory documents and the Articles ofAssociation.
Article139	AdirectororotherseniormanagementpersonneloftheCompanymayalsoactasthesecretaryoftheboardofdirectors.
	Wheretheofficeofsecretaryisheldconcurrentlybyadirector,andanactis required tobedone bya director anda secretary separately, thepersonwhoholdstheofficeofdirectorandsecretarymaynotperformtheactinadualcapacity.
Article140	The secretary of the board of directors shall diligently exercise his duties inaccordancewiththelaws,administrativeregulations,departmentalrulesandtherelevantprovisionsoftheseArticlesofAssociation.
	ThesecretaryoftheboardofdirectorsshallassisttheCompanyincomplyingwiththerelevantPRClawsandtherulesofthesecuritiesexchangeonwhichthesharesoftheCompanyarelisted.
CHAPTER14:PRESIDENT
Article141	TheCompanyshallhaveapresidentwhoshallbeappointedordismissedbytheboardofdirectors.
	TheCompanyshallhaveseveralvicepresidents,onechieffinancialofficer,onechiefpilotandonegenerallegalcounselwhoshallassistthepresident.Thevicepresidents,chieffinancialofficer,chiefpilotandgenerallegalcounselshallbe nominatedbythe president andappointedordismissed bytheboardofthedirectors.

Article142	Thetermofofficeforapresidentshallbe3yearsandisrenewableifre-appointed.
Article143	Thepresidentshallbeaccountabletotheboardofdirectorsandshallexercisethefollowingfunctionsandpowers:
	(1) tobeinchargeoftheCompany'sproduction,operationandmanagementandtoorganizetheimplementationoftheresolutionsoftheboardofdirectors;
	(2) toorganizetheimplementationoftheCompany'sannualbusinessplanandinvestmentproposal;
	(3) subjecttoapplicablelawsandtheseArticlesofAssociation,todecideontransactions,whicharerelatedtotheCompany'smainbusiness,andthevalueofwhichshallnotexceedcertainamount,orcertainproportion of the Company's latest audited net assets (the said amountandproportiontobedeterminedbytheshareholders'meeting);
	(4) tosigncontractsandagreementsonbehalfoftheCompanyinaccordancewiththeauthorizationgrantedbytheboardofdirectorsorthelegalrepresentative;
	(5) todraftplansfortheestablishmentoftheCompany'sinternalmanagementstructure,andwherenecessary,makeplansforgeneralinstitutionaladjustment;
	(6) todrafttheCompany'sbasicmanagementsystem;
	(7) toformulatebasicrulesandregulationsfortheCompany;
	(8) toproposetheappointmentordismissalofthevicepresidents,chiefaccountant,chiefpilotandgenerallegalcounseloftheCompany;
	(9) toappointordismissmanagementpersonnelotherthanthoserequiredtobeappointedordismissedbytheboardofdirectors;
	(10) toproposetoconveneanextraordinarymeetingoftheboardofdirectors;
	(11) otherpowersconferredbytheArticlesofAssociationandtheboardofdirectors.
Article144	Thepresidentshallattendmeetingsoftheboardofdirectors.Thepresidentwhoisnotadirectorshallnothavetherighttovoteatboardmeetings.

Article145	In performing their duties and powers, the president, vice presidents, chiefaccountant,chiefpilot,generallegalcounselandotherseniorofficersshallacthonestlyanddiligentlyinaccordancewithlaws,administrativeregulationsandtheArticlesofAssociation.
CHAPTER15:SUPERVISORYCOMMITTEE
Article146	TheCompanyshallhaveasupervisorycommittee.ThesupervisorycommitteeisapermanentsupervisorybodyoftheCompanyresponsiblefor supervising the board of directors and its members, the president, vicepresidents,chieffinancialofficerandotherseniorofficersoftheCompanytopreventthemfromabusingtheirpowersandinfringingthelegalrightsandinterestsoftheshareholders,theCompanyanditsemployees.
Article147	Thesupervisorycommitteeshallcomposeoffive(5)supervisors.Thenumberofoutsidesupervisor(hereinaftermeaningsupervisorswhodonothold office in the Company) shall account for one half or more of the totalnumberofsupervisorycommitteemembers.Thenumberofsupervisorsrepresentingemployeesshallnotbelessthanone-third(1/3)ofthetotalnumberofsupervisors.Thesupervisorycommitteeshallhaveone(1)chairman. Each supervisor shall serve for a term of 3 years, which term isrenewableuponre-electionandre-appointment.
	Theelectionorremovalofthechairmanofthesupervisorycommitteeshallbedeterminedbytheaffirmativevotesoftwo-thirdsormoreofthemembersofthesupervisorycommittee.
	The chairman of the supervisory committee shall organise theimplementationofthedutiesofthesupervisorycommittee.
Article148	Thesupervisorycommitteeshallincludethree(3)supervisorswhoshallrepresent the shareholders (all of whom are outside supervisors) and two (2)supervisorswhoshallrepresenttheemployees.Supervisorswhorepresentthe shareholders shall be elected or removed by the shareholders in generalmeetings, and the supervisor who represents employees shall be elected orremovedbytheemployeesdemocratically.
	Wherenecessary,thesupervisorycommitteemayestablishanofficeresponsiblefortheday-to-dayworkofthesupervisorycommittee.

Article149	Thelistofcandidatesforsupervisorsrepresentingshareholdersshallbeproposedinformofamotiontotheshareholders'generalmeetingforresolution.Candidatesforsupervisorsrepresentingemployeesshallbenominatedbytheboardofdirectors,supervisorycommitteeorbyshareholder(s)holding,aloneortogether,morethanthreepercent(3%)ofthe total amount of voting shares in the Company and shall be elected orremovedattheshareholders'generalmeeting.
Article150	Thecumulativevotingmethodmaybeadoptedforvotingtheresolutiontoelect supervisors (excluding supervisors acted by staff representatives) at theshareholders' general meeting of the Company. Namely, for the election ofmorethantwosupervisorsattheshareholders'generalmeeting,eachshareheldbytheshareholdersparticipatinginthevotingshallcarrythevotingrightequaltothetotalnumberofsupervisorstobeelected.Theshareholderscaneithercastallthevotestoelectonepersonorcastthevotestoelectseveralpersons.
Article151	Thedirectors,president,vicepresidentsandotherseniormanagementoftheCompanyshallnotactconcurrentlyassupervisors.
Article152	The board of supervisors meetings shall be convened at least once every 6months.Thechairmanoftheboardofsupervisorsshallconveneandchairthesaidmeetings.Shouldthechairmanoftheboardofsupervisorsbeunabletoperformhis/herdutiesorfailtoperformhis/herduties,asupervisor jointlyelectedby morethan halfofthe numberofsupervisorsshallconvene and chair the board of supervisors' meeting. A noticeof theboardofsupervisors'meetingsshallbedeliveredtoallsupervisorsinwriting 10 days prior to the convening of the said meeting. The notice ofmeetingshallincorporatethefollowinginformation:
	(1) Thedate,venueanddurationofthemeeting;
	(2) Thereasonforconveningthemeetingandthetopicsfordiscussionthereat;
	(3) Thedateonwhichthenoticeisissued.
Article153	If,atthetimewhenthetermofofficeofasupervisorexpires,theelectionof a new supervisor is not held in time, and if a supervisor resigns duringhis/her term of office and causes the number of members of the supervisorycommittee fall below those required by law, the incumbent supervisor shallcontinueto performhis/hersupervisor's responsibilitiesinaccordancewiththerelevantlaws,administrativeregulationsandtheseArticlesofAssociationuntilthenewlyelectedsupervisortakehis/heroffice.

Article154	Thesupervisorycommitteeshallbeaccountabletotheshareholdersinageneralmeetingandshallexercisethefollowingfunctionsandpowersinaccordancewithlaw:
	(1) to review the Company's financial position situation, to examine theCompany'sreportspreparedbytheboardofdirectorsonaregularbasisandtopreparewrittenopinionafterthesamehavebeenexamined;
	(2) tomonitortheperformancedirectors,president,vicepresidents,financialcontrollerandotherseniorofficersoftheirdutiestoensurethattheydonotactincontraventionofanylaw,regulationortheArticlesofAssociation,andtorecommendthedismissalofanydirectors and senior management personnel who has violated the laws,administrativeregulations,theArticlesofAssociationortheresolutionspassedattheshareholders'generalmeetings;
	(3) todemandanydirector,president,vicepresident,financialcontrolleroranyotherseniorofficerwhoactsinamannerwhichisharmfultotheCompany'sinteresttorectifysuchbehaviour;
	(4) toverifythefinancialinformationsuchasthefinancialreport,businessreportandplansfordistributionofprofitstobesubmittedbytheboardofdirectorstotheshareholders'generalmeetingsandtoauthorize, in the Company's name, publicly certified accountants andpractising auditors to assist in the re-examination of such informationshouldanydoubtariseinrespectthereof;
	(5) toproposetoamotionattheshareholder'sannualgeneralmeeting;
	(6) toproposetoconveneanextraordinarygeneralmeetingandtoconvene and preside over the shareholders' general meetings when theboardofdirectorsfailstodoso;
	(7) toproposetoconveneanextraordinarymeetingoftheboardofdirectors;
	(8) torepresenttheCompanyinnegotiationswith,orinbringingactionsagainst,adirectororseniormanagementofficer;
	(9) otherfunctionsandpowersspecifiedinlaws,administrativeregulationsandintheseArticlesofAssociationaswellasthoseasconferredbytheshareholders'generalmeeting.

	ThesupervisorycommitteemaymakerecommendationsontheappointmentofaccountingfirmbytheCompany,mayappointanotheraccountingfirminthenameoftheCompanywhennecessarytoexaminefinancialaffairsoftheCompanyindependently,andmaydirectlyreportrelevantinformationtothe authorities in charge of securities of the State Council and other relevantauthorities.
	Outsidesupervisorsshallreportindependentlytotheshareholders'meetingonwhethertheseniorofficersperformtheirdutieshonestlyanddiligently.
	Supervisorsmayattendmeetingsoftheboardofdirectorsasobservers,andtointerrogateorgivesuggestiontotheresolutionsattheboardofdirectors.
Article155	Supervisorsmayrequirethedirectors,thepresident,vicepresidentandother senior management personnel to the Board and internal and externalauditing personnel to attend meetings of the supervisory committee and toanswermattersofconcernsofthesupervisorycommittee.
Article156	Resolutionsofthesupervisorycommitteeshallbepassedbytheaffirmativevoteoftwo-thirdsormoreofallofitsmembers.
Article157	Thesupervisorycommitteeshalltakeminutesoftheresolutionsatthemeetings.Supervisorwhoattendthemeetingandthepersontakingtheminutesshallsigntheminutes.Thesupervisorsattendingthesupervisorycommitteemeetingshallhavetherighttorequesttohavethedescriptiveinformationontheirspeechgiventhereattoberecordedintheminutes.Minutesofthesupervisorycommitteemeetingshallbetreatedasimportantfileandkeptproperlyforaperiodofatleast10years.
Article158	All reasonable fees incurred in respect of the employment of professionals(suchas,lawyers,certifiedpublicaccountantsorpractisingauditors)whicharerequiredbythesupervisorycommitteeintheexerciseofitsfunctionsandpowersshallbebornebytheCompany.
Article159	Asupervisorshallcarryouthisdutieshonestlyandfaithfullyinaccordancewithlaws,administrativeregulationsandtheArticlesofAssociation.

CHAPTER16:THEQUALIFICATIONSANDDUTIESOF THEDIRECTORS,SUPERVISORS,PRESIDENT,VICEPRESIDENTSANDOTHERSENIOROFFICERSOFTHECOMPANY
Article160	A personmay not serveasa director,supervisor, president, vicepresidentsoranyotherseniorofficersoftheCompanyifanyofthefollowingcircumstancesapply:
	(1) apersonwhodoesnothaveorwhohaslimitedcapacityforcivilconduct;
	(2) apersonwhohasbeensentencedforcorruption,bribery,infringementofpropertyormisappropriationofpropertyorothercrimeswhichdisruptthesocialeconomicorder,wherelessthan5yearshaveelapsedsincethesentencewasserved,orapersonwhohasbeendeprived of his political rights and not more than 5 years have elapsedsincethesentencewasserved;
	(3) a person who is a former director, factory manager or manager of acompany or enterprise which has been dissolved or put into liquidationand who was personally liable for the winding up of such company orenterprise,wherelessthan3yearshaveelapsedsincethedateofcompletionoftheinsolventliquidationofthecompanyorenterprise;
	(4) apersonwhoisaformerlegalrepresentativeofacompanyorenterprisethebusinesslicenceofwhichwasrevokedduetoviolationof law and who are personally liable therefor, where less than 3 yearshaveelapsedsincethedateoftherevocationofthebusinesslicence;
	(5) apersonwhohasarelativelylargeamountofdebtswhichhavebecomeoverdue;
	(6) apersonwhoiscurrentlyunderinvestigationbyjudicialorgansforviolationofcriminallaw;
	(7) apersonwho,accordingtolaws,administrativeregulationsordepartmentalrules,cannotactasaleaderofanenterprise;
	(8) apersonotherthananaturalperson;
	(9) apersonwhohasbeenconvictedbythecompetentauthorityforviolationofrelevantsecuritiesregulationsandsuchconvictioninvolvesafindingthatsuchpersonhasactedfraudulentlyordishonestly,wherelessthan5yearshaveelapsedsincethedateofsuchconviction;

	(10) apersonwhohasbeenconfirmedbytheauthorityinchargeofsecuritiesoftheStateCouncilasbeingprohibitedfromparticipatinginthemarketorhavenotbeenreleasedfromsuchprohibition;
	(11) othercontentsasprovidedforbythelaws,administrativeregulationsordepartmentalrules.
	If any of the above circumstances occurs on the part of a director during histermofoffice,theboardofdirectorsshall,startingfromthedateonwhichtheyareawarethereof,forthwithceasetheperformanceofdutiesbytherelevant director and propose to remove such director at the shareholders'general meeting. If any of the above circumstances occurs on the part of thepresidentduringhistermofoffice,theboardofdirectorsshall,startingfromthedateonwhichtheyareawarethereof,forthwithceasetheperformanceofdutiesbytherelevantpresidentandconveneaboardmeetingtodismisssuchpresident.Ifanyoftheabovecircumstancesoccursonthepartofasupervisorduringhistermofoffice,thesupervisorycommitteeshall,startingfromthedateonwhichitisawarethereof,forthwithceasetheperformanceofdutiesbytherelevantsupervisorandproposetoremovesuchsupervisorattheshareholders'generalmeetingortheemployeerepresentatives'meeting.
Article161	NodirectormayactinhisownnameoronbehalfoftheCompanyortheboardofdirectorswithoutlegalauthorizationpursuanttotheprovisionsoftheArticlesofAssociationorbytheboardofdirectors.Inthecourseofactinginhisownname,adirectorshallstatehispositionandidentityinsofarasathirdpartymayreasonablybelievesthatsuchdirectorisactingonbehalfoftheCompanyortheboardofdirectors.
Article162	Thevalidityofanactcarriedoutbyadirector,thepresident,vicepresidents, financial controller or other senior officers of the Company onbehalfoftheCompanyasagainstabonafidethirdparty,shallnotbeaffectedbyanyirregularityinhisoffice,electionoranydefectinhisqualification.
Article163	Inadditiontotheobligationsimposedbylaws,administrativeregulationsorthe listing rules of the stock exchange on which shares of the Company arelisted,eachoftheCompany'sdirectors,supervisors,president,vicepresidentsandotherseniorofficersowesadutytoeachshareholder,intheexerciseofthefunctionsandpowersentrustedtohimbytheCompany:
	(1) nottocausetheCompanytoexceedthescopeofbusinessstipulatedinitsbusinesslicence;
	(2) toacthonestlyandinthebestinterestsoftheCompany;

	(3) nottodeprivetheCompanyofitsassetspropertyinanyway,including(butnotlimitedto)anyopportunitieswhichbenefittheCompany;
	(4) nottodeprive shareholdersofthe individualrightsof, including(butnot limited to) rights to distribution and voting rights, save and exceptpursuanttoarestructuringoftheCompanywhichhasbeensubmittedtotheshareholdersforapprovalinaccordancewiththeArticlesofAssociation.
Article164	Each of the Company's directors, supervisors, president, vice presidents andother senior officers owes a duty, in the exercise of his powers or in thedischargeofhisduties,toexercisethecare,diligenceandskillthatareasonablyprudentpersonwouldexerciseincomparablecircumstances,includingbutnotlimitedtocompliancewiththestandardsoftheprofessionalethicsandcodeofconductformulatedbytheCompany.
Article165	Each of the Company's directors, supervisors, president, vice presidents andotherseniorofficersshallexercisehispowersorperformhisdutiesinaccordancewiththefiduciaryprinciple;andshallnotputhimselfinaposition where his duty and his interest may conflict. This principle includes(withoutlimitation)dischargingthefollowingobligations:
	(1) toacthonestlyinthebestinterestsoftheCompany;
	(2) toactwithinthescopeofhispowersandnottoexceedsuchpowers;
	(3) toexercisethediscretionvestedinhimpersonallyandnottoallowhimselftoactunderthecontrolofanotherand,unlessandtotheextentpermittedbylaws,administrativeregulationsorwiththeinformedconsentofshareholdersgiveninageneralmeeting,nottodelegatetheexerciseofhisdiscretion;
	(4) totreatshareholdersofthesameclassequallyandtotreatshareholdersofdifferentclassesfairly;
	(5) unless otherwise provided for in the Articles of Association or exceptwiththeinformedconsentoftheshareholdersgiveninageneralmeeting,nottoenterintoanycontract,transactionorarrangementwiththeCompany;
	(6) nottousetheCompany'spropertyforhisownbenefit,withouttheinformedconsentoftheshareholdersgiveninageneralmeeting;

	(7) not to exploit his position to accept bribes or other illegal income ormisappropriate the Company's property in any way, including (but notlimitedto)opportunitieswhichbenefittheCompany;
	(8) nottoacceptcommissionsinconnectionwiththeCompany'stransactions,withouttheinformedconsentoftheshareholdersgiveninageneralmeeting;
	(9) to comply with the Company's Articles of Association, to perform hisofficial duties faithfully, to protect the Company's interests and not toexploithispositionandpowerintheCompanytoadvancehisowninterests;
	(10) nottocompetewiththeCompanyinanyway,savewiththeinformedconsentoftheshareholdersgiveninageneralmeeting;
	(11) not to misappropriate the Company's funds, not to use the Company'sassetstosetupdepositaccountsinhisownnameorinanyothername,andnottolendthefundsoftheCompanytootherpartyortouse the assets of the Company to guarantee the debts of a third partyunlesswiththefullknowledgeandconsentoftheshareholdersgivenatashareholders'generalmeetingsoroftheboardofdirectors;
	(12) nottoreleaseanyconfidentialinformationwhichhehasobtainedduringhistermofoffice,withouttheinformedconsentoftheshareholders in a general meeting; nor shall he use such informationotherwise than for the Company's benefit, save that disclosure of suchinformationtothecourtorothergovernmentalauthoritiesispermittedif:
	(i) disclosureisrequiredbythelaw;
	(ii) inthepublicinterests;
	(iii) intheinterestsoftherelevantdirector,supervisor,president,vicepresidentsorotherseniorofficer.
	Gainsderivedbythedirectors,thepresident,thevicepresidentandotherseniormanagementpersonnelinviolationof thisArticleshall bevested intheCompany.ThesaidofficersshallbeliablefordamagesshouldtheiractionscauselossestotheCompany.

Article166	Shouldthedirectors,thesupervisors,thepresident,thevicepresidentandotherseniormanagementpersonnelberequestedtoattendashareholders'generalmeetingasnon-votingattendees,suchdirectors,supervisors,president,vicepresidentandotherseniormanagementpersonnelshallattendthesameasnon-votingattendeesandprovideresponseandexplanationstotheinterrogationsandsuggestionraisedbytheshareholders.
	Directors,supervisors,presidents,vicepresidentsandotherseniormanagementpersonnelshallinformthesupervisorycommitteeoftherelevantstatusandprovidethesamewiththerelevantinformationinaccordance with the facts and shall not preclude the supervisory committeefromexercisingitsfunctionsandpowers.
Article167	Eachdirector,supervisor,president,vicepresidentsandotherseniorofficeroftheCompanyshallnotdirectthefollowingpersonsorinstitutions("associates")toactinamannerwhichheisprohibitedfromsoacting:
	(1) thespouseorminorchildofthedirector,supervisor,president,vicepresidentsorotherseniorofficer;
	(2) thetrusteeofthedirector,supervisor,president,vicepresidentsorotherseniorofficerorofanypersondescribedinsub-paragraph(1)above;
	(3) thepartnerofthatdirector,supervisor,president,vicepresidentsorotherseniorofficeroranypersonreferredtoinsub-paragraphs(1)and (2)ofthisArticle;
	(4) acompanyinwhichthatdirector,supervisor,president,vicepresidentsorotherseniorofficer,whetheraloneorjointlywithanyperson referred to in sub-paragraphs (l), (2) and (3) of this Article andother directors, supervisors, president and other senior officers, has defactocontrollinginterest;
	(5) thedirectors,supervisors,president,vicepresidentsandotherseniorofficersofacompanywhichisbeingcontrolledinthemannersetoutinsub-paragraph(4)above.

Article168	Ifadirector,supervisor,presidentandvicepresidentandotherseniorofficeroftheCompanyresignsorhisorhertermofofficeexpires,hisorherfiduciarydutyowedtotheCompanyandshareholdersmaynotbenecessarily discharged before his or her report of resignation takes effect orwithinareasonableperiodthereafterandwithinareasonableperiodaftertheexpiryofhisorhertermsofofficewhilehisorherdutytokeepconfidentialofthetradesecretsoftheCompanyshallremaineffectiveafterthe expiry of his or her term of office until such secrets enter into the publicdomain.Thesurvivalofotherdutiesshallbedeterminedinaccordancewiththeprinciplesoffairnessaswellastakingintoconsiderationthetimeintervalbetweentheoccurrenceoftheeventconcernandthetimingofhisor her departure together with thecircumstances andconditions under whichthesaidpersonterminateshisorherrelationshipwiththeCompany.
Article169	Anydirector,supervisor,president,vicepresidentandotherseniormanagementpersonnelwho,whenperformingtheirdutiesintheCompany,violatesthelaws,administrativeregulations,departmentalrulesandregulationsortheprovisionscontainedintheArticlesofAssociationresultingincausinglossestotheCompanyshallbeliableforindemnifyingtheCompany.Anydirector,supervisor,president,vicepresidentorothersenior officer whose term of office has not been expired shall be liable forcompensationofanylossesincurredbytheCompanyduetohisorherabsencefromdutywithoutpermission.
Article170	SubjecttoArticle59hereof,adirector,supervisor,president,vicepresidentorotherseniorofficeroftheCompanymayberelievedofliabilityforspecific breaches of his duty with the informed consent of the shareholdersgivenatageneralmeeting.
Article171	Whereadirector,supervisor,president,vicepresidentorotherseniorofficeroftheCompanyisinanyway,directlyorindirectly,materiallyinterestedinacontract,transactionorarrangementorproposedcontract,transactionorarrangement with the Company, (other than his contract of service with theCompany),heshalldeclarethenatureandextentofhisintereststotheboardofdirectorsattheearliestopportunity,whetherornotthecontract,transaction or arrangement or proposal therefore is otherwise subject to theapprovaloftheboardofdirectors.
	SubjecttotheexceptionsprovidedbytheseArticlesofAssociation,adirector shall not vote at the relevant meeting of the board of directors inrespectofanycontract,transactionorarrangementinwhichhe,orhisconnectedpersons(asdefinedintheapplicablelistingrulesasamendedfromtimetotime),aremateriallyinterestedandheshallnotbecountedaspartofthequorumofsuchmeeting.

	Unless an interested director, supervisor, president, vice president or otherseniorofficerdiscloseshisinterestsinaccordancewiththefirstsub-paragraph of this Article and he is not counted as part of the quorum andrefrainsfromvoting,suchtransactionisvoidableattheinstanceoftheCompanyexceptasagainstabonafidepartytheretowhodoesnothavenotice of the breach of duty by the interested director, supervisor, president,vicepresidentorotherseniorofficer.
	A director, supervisor, president, vice president or other senior officer of theCompanyisdeemedtobeinterestedinacontract,transactionorarrangementinwhichhisassociateisinterested.
Article172	Whereadirector,supervisor,president,vicepresidentorotherseniorofficeroftheCompanygivestotheboardofdirectorsanoticeinwritingstatingthat,byreasonofthefactsspecifiedinthenotice,heisinterestedincontracts,transactions or arrangements whichmay subsequently be made bythe Company, that notice shall be deemed for the purposes of the precedingArticle to be asufficient declaration of hisinterests, sofar as the contentstated in such notice is concerned, provided that such notice shall have beengivenbeforethedateonwhichthequestionofenteringintotherelevantcontract, transaction or arrangement is first taken into consideration by theCompany.
Article173	TheCompanyshallnotpaytaxesfororonbehalfofadirector,supervisor,president,vicepresidentorotherseniorofficerinanymanner.
Article174	The Company shall not directly or indirectly make a loan to or provide anyguarantee in connection with the making of a loan to a director, supervisor,president, vice president or other senior officer of the Company or of theCompany'sholdingcompanyoranyoftheirrespectiveassociates.
	Theforegoingprohibitionshallnotapplytothefollowingcircumstances:
	(1) theprovisionbytheCompanyofaloanoraguaranteeinconnectionwiththemakingofaloantoitssubsidiary:
	(2) theprovisionbytheCompanyofaloanoraguaranteeinconnectionwith the making of a loan or any other funds available to any of itsdirectors,supervisors,president,vicepresidentsandotherseniorofficers to meet expenditure incurred or to be incurred by him for thepurposesoftheCompanyorforthepurposeofenablinghimtoperform his duties properly, in accordance with the terms of a servicecontractapprovedbytheshareholdersinageneralmeeting;

	(3) if theordinary course of business of the Companyincludes the lendingofmoneyorthegivingofguarantees,theCompanymaymakealoantoorprovideaguaranteeinconnectionwiththemakingofaloantoanyof therelevant director, supervisor,president,vice president andanyotherseniorofficerorhisorherrespectiveassociatesintheordinarycourseofitsbusinessonnormalcommercialterms.
Article175	Any person who receives funds from a loan which has been made by theCompany acting in breach of the preceding Article shall, irrespective of thetermsoftheloan,forthwithrepaysuchfunds.
Article176	A guarantee for the repayment of a loan which has been provided by theCompany acting in breach of Article 174(1) of these Articles of AssociationshallnotbeenforceableagainsttheCompany,saveinrespectofthefollowingcircumstances:
	(1) theguaranteewasprovidedinconnectionwithaloanwhichwasmadetoanassociateofanyofthedirector,supervisor,president,vicepresidentandanyotherseniorofficeroftheCompanyoroftheCompany'sholdingcompanyandthelenderofsuchfundsdidnotknowoftherelevantcircumstancesatthetimeofthemakingoftheloan;or
	(2) thecollateralwhichhasbeenprovidedbytheCompanyhasalreadybeenlawfullydisposedofbythelendertoabonafidepurchaser.
Article177	For the purposes of the foregoing provisions of this Chapter, a "guarantee"includesanundertakingorpropertyprovidedtosecuretheobligor'sperformanceofhisobligations.
Article178	Subject to the approvalby the shareholders' general meeting, the Companymay take out liability insurance for any director, supervisor, president, vicepresidentandanyotherseniorofficeroftheCompany,exceptforthoseliabilityresulting from the violation oflaws, administrativeregulations andtheArticlesofAssociationbysuchdirector,supervisor,president,vicepresidentandotherseniorofficeroftheCompany.
Article179	Inadditiontoanyrightsandremediesprovidedbythelawsandadministrativeregulations,whereadirector,supervisor,president,vicepresidentorotherseniorofficeroftheCompanybreachesthedutieswhichheowestotheCompany,theCompanyhasaright:
	(1) to demand such director, supervisor, president, vice president or otherseniorofficertocompensateitforlossessustainedbytheCompanyasaresultofsuchbreach;

	(2) torescindanycontractortransactionwhichhasbeenenteredintobetweentheCompanyandsuchdirector,supervisor,presidentvicepresidentorotherseniorofficerorbetweentheCompanyandathirdparty (where such third party knows or should have known that suchdirector, supervisor, president, vice president and other senior officerrepresentingtheCompanyhasbreachedhisdutiesowedtotheCompany);
	(3) to demand such director, supervisor, president, vice president or othersenior officer to account for profits made as result of the breach of hisduties;
	(4) torecoveranymonieswhichshouldhavebeenreceivedbytheCompanyandwhichwerereceivedbysuchdirector,supervisor,president,vicepresidentorotherseniorofficerinstead,including(withoutlimitation)commissions;and
	(5) todemandrepaymentofinterestearnedorwhichmayhavebeenearned by such director, supervisor, president, vice president or otherseniorofficeronmoniesthatshouldhavebeenpaidtotheCompany.
Article180	TheCompanyshall,withthepriorapprovalofshareholdersinageneralmeeting,enterintoacontractinwritingwithadirectororsupervisorwhereinhisemolumentsarestipulated.Theaforesaidemolumentsinclude:
	(1) emolumentsinrespectofhisserviceasdirector,supervisororseniorofficeroftheCompany;
	(2) emolumentsinrespectofhisserviceasdirector,supervisororseniorofficerofanysubsidiaryoftheCompany;
	(3) emoluments in respect of the provision of other services in connectionwiththemanagementoftheaffairsoftheCompanyandanyofitssubsidiaries;
	(4) paymentbywayofcompensationforlossofoffice,orinconnectionwithhisretirementfromoffice.
	NoproceedingsmaybebroughtbyadirectororsupervisoragainsttheCompany for anythingduetohiminrespectof the mattersmentioned inthisArticleexceptpursuanttothecontractmentionedabove.

Article181	ThecontractconcerningtheemolumentsbetweentheCompanyanditsdirectors or supervisors should provide that in the event of a takeover of theCompany,theCompany'sdirectorsandsupervisorsshall,subjecttothepriorapprovalofshareholdersinageneralmeeting,havetherighttoreceivecompensation orotherpaymentinrespectofhislossofofficeorretirement. For the purposes of this paragraph, a takeover of the Companyincludesanyofthefollowing:
	(1) anoffermadebyanypersontothegeneralbodyofshareholders;
	(2) anoffermadebyanypersonwithaviewtotheofferorbecominga"controllingshareholder"withinthemeaningofArticle60hereof.
	IftherelevantdirectororsupervisordoesnotcomplywiththisArticle,anysum so received by him shall belong to those persons who have sold theirsharesas aresultof suchoffer. Theexpensesincurredin distributingsuchsum on a pro rata basis amongst such persons shall be borne by the relevantdirectororsupervisorandshallnotbepaidoutofsuchsum.
CHAPTER17:FINANCIALANDACCOUNTINGSYSTEMS,PROFITDISTRIBUTIONANDAUDIT
Article182	TheCompanyshallestablishitsfinancialandaccountingsystemsinaccordancewithlaws,administrativeregulationsandPRCaccountingstandardsformulatedbythefinanceregulatorydepartmentoftheStateCouncil.
Article183	ThefiscalyearoftheCompanyshallbeonthebasisofthesolarcalendarbeginningon1Januaryandendingon31Decemberofthesameyear.
	TheCompanyshalluseRenminbiasitsstandardunitofaccount.TheaccountsshallbepreparedinChinese.
	At the end of each fiscal year, the Company shall prepare a financial reportwhich shall be examined and verified by an accounting firm in a mannerprescribedbylaw.
Article184	TheboardofdirectorsoftheCompanyshallplacebeforetheshareholdersateveryannualgeneralmeetingsuchfinancialreportswhichtherelevantlaws,administrativeregulationsanddirectivespromulgatedbycompetentregionalandcentralgovernmentalauthoritiesrequiretheCompanytoprepare.Suchreportsmustbeauditedandreviewed.

Article185	The Company's financial reports shall be made available for shareholders'inspectionattheCompanytwenty(20)daysbeforethedateofeveryshareholders' annual general meeting. Each shareholder shall be entitled toobtainacopyofthefinancialreportsreferredtointhisChapter.
	TheCompanyshallsendtoeachholderofOverseas-ListedForeignSharesby prepaidmailat theaddressregisteredin the registerofshareholders thesaidreportsnotlaterthantwenty-one(21)daysbeforethedateofeveryannualgeneralmeetingoftheshareholders.
	Provided that the laws and regulations and the relevant listing rules of thejurisdictionswherethesharesoftheCompanyarelistedarecompliedwith,the abovementioned report may also be issued or provided to the holders ofOverseas- Listed Foreign Shares by other means as specified in Article 231herein.
Article186	ThefinancialstatementsoftheCompanyshall,inadditiontobeingprepared in accordance with PRC accounting standards and regulations, bepreparedinaccordancewitheitherinternationalaccountingstandards,orthat of the place outside the PRC where the Company's shares are listed. Ifthereisanymaterialdifferencebetweenthefinancialstatementspreparedrespectivelyinaccordancewiththetwoaccountingstandards,suchdifferenceshallbestatedinthefinancialstatements.Indistributingitsafter-taxprofits,thelowerofthetwoamountsshowninthefinancialstatementsshallbeadopted.
Article187	Any interim results or financial information published or disclosed by theCompanymustalsobepreparedandpresentedinaccordancewithPRCaccountingstandardsandregulations,andalsoinaccordancewitheitherinternationalaccountingstandardsorthatoftheplaceoverseaswheretheCompany'ssharesarelisted.
Article188	The Company shall publish its financial reports four times every fiscal year,thatis,thefirstquarterlyfinancialreportshallbepublishedwithinthirty (30) days after the expiration of the first 3 months of each fiscal year; theinterim financial report shall be published within sixty (60) days after theexpirationofthefirst6monthsofeachfiscalyear;thethirdquarterlyfinancialreportshallbepublishedwithinthirty(30)daysaftertheexpirationofthefirst9monthsofeachfiscalyear;andtheannualfinancialreportshallbepublishedwithinonehundredandtwenty(120)daysaftertheexpirationofeachfiscalyear.
Article189	TheCompany'sfinancialreportsshallbepreparedpursuanttotherelevantlaws,administrativeregulationsanddepartmentalrulesandregulations.
Article190	TheCompanyshallnotkeepaccountsotherthanthoserequiredbylaw.

Article191	Whendistributingitsafter-taxprofitsinagivenyear,theCompanyshallcontribute 10% of such profits to the Company's statutory common reservefund. Where the accumulated amount of the statutory common reserve fundreaches 50% or more of the registered capital of the Company, no furthercontributionisrequired.
	WherethestatutorycommonreservefundisinsufficienttomakeforthelossesoftheCompanyinthepreviousyear,beforemakingcontributiontothestatutorycommonreservefund,theprofitsmadeinthecurrentyearshallbeusedtomakeupforthelossesfirst.
	Aftermakingcontributiontothestatutorycommonreservefundfromitsafter-taxprofits,theCompanymay,subjecttoresolutionsadoptedatageneral meeting, make contributions to discretionary common reserve fundsfromitsafter-taxprofits.
Article192	Capitalsurplusfundincludesthefollowingitems:
	(1) premiumonsharesissuedatapremiumprice;
	(2) anyotherincomedesignatedforthecapitalsurplusfundbytheregulationsofthefinanceregulatorydepartmentoftheStateCouncil.
Article193	The common reserve funds (including the statutory common reserve fund,discretionarycommonreservefundsandcapitalsurplusfund)oftheCompanyshallbeappliedformakingupforlosses,expandingtheCompany'sproductionandoperationorcapitalisation;providedthatthecapitalsurplusfundshallnotbeusedforcoveringthelossoftheCompany.
	Whencapitalisingthestatutorycommonreservefund,thebalanceofsuchfundshallnotbelessthan25%oftheregisteredcapitalpriortocapitalisation.
Article194	Aftermakingupforthelossesandmakingcontributionstothecommonreservefund,any remainingprofitsshallbe distributedto theshareholdersinproportiontotheirrespectiveshareholders.
	TheCompanyshallnotallocatedividendsorcarryoutotherallocationsintheformofbonusesbeforeithascompensatedforitslossesandmadeallocationstothestatutorycommonreservefund.NosharesoftheCompanyheldbytheCompanyshallparticipateintheseallocations.
	DividendspaidbytheCompanyshallnotcarryanyinterestexceptwheretheCompanyhasfailedtopaythedividendstotheshareholdersonthedateonwhichsuchdividendsbecomepayable.

	Anyamountpaidupinadvanceofcallsonashareshallcarryinterest,butshallnotentitletheholderofthesharetoreceive,bywayofadvancepayment,thedividenddeclaredanddistributedthereafter.
Article195	Basicprinciplesfordividendsdistributionpolicy:
	(1) theCompanyshallfullyconsiderthereturnstoinvestorsandimplementsproactivedividendsdistributionpolicy;
	(2) thedividendsdistributionpolicyoftheCompanyshallremaincontinuousandstable,andtakeintoaccountlong-terminterestsofthe Company, interests of all shareholders as a whole and sustainabledevelopmentoftheCompany;
	(3) theCompany shalldistribute itsdividendsbyway ofcash as priority.TheCompanymaydistributeinterimdividendsiftheconditionspermit.
Article196	SpecificdividendsdistributionpolicyoftheCompany:
	(1) Theformofdividendsdistribution:
	TheCompanymaydistributedividendsincash,sharesoracombinationofcashandsharesorothermethodspermittedbythelaws, administrative regulations, departmental rules and the regulatoryrulesofthejurisdictionsinwhichthesharesoftheCompanyarelisted.
	TheboardofdirectorsoftheCompanyshallhavecomprehensiveconsiderationofthefactors,includingitsindustrycharacteristics,developmentstage,operationmode,profitabilitylevelandwhetherthereisanysignificantexpenditurepaymentarrangement,makethedifferentiatedcashbonuspolicyaccordingtotheproceduresprescribedbytheArticlesofAssociation, andidentifytheproportionofthecashbonusintheprofitdistributioninthecurrentyear, with proportion in compliance with the relevant stipulationsoflaws,administrativeregulations,normativedocumentationandstockexchanges.
	(2) Specificconditions,proportionsandintervalsfordistributingcashdividendsbytheCompany:

	Saveasspecialcircumstances,thedividendsshallbedistributedincashby the Company providedthat the distributable profits (i.e.thebalance of profit after tax, after making up for the losses and makingcontributionstothecommonreservefundinaccordancewiththeprovisionsoftheseArticlesofAssociationaswellasdeductingotherwiseapprovedbytherelevantnationaldepartments)realizedforthecurrentyearinthefinancialstatementoftheparentcompanypreparedinaccordancewithapplicabledomesticandoverseasaccountingstandardsandregulationsarepositive,andthecashdividends to be distributed each year shall not be less than 15% of theapplicabledistributableprofits.
	TheapplicabledistributableprofitsshallbethelowerofthedistributableprofitsinthefinancialstatementsoftheparentcompanypreparedbytheCompanyinaccordancewithapplicabledomesticandoverseasaccountingstandardsandregulations.
	SpecialcircumstancesrefertothecircumstancesunderwhichtheboardofdirectorsconsidersthatcashdividenddistributionmayinfluencetheCompany'scontinuingoperationandlong-termdevelopment.
	Whentheaforesaidconditionsofcashdistributionaremet,cashdividendsshallbedistributedonceayear.TheboardofdirectorsoftheCompanycanproposeaninterimdividenddistributionaccordingtotheCompany'sstatusofprofitabilityandcapitalneeds.
	(3) SpecificconditionsunderwhichtheCompanymayissuesharesinlieuofdividends:
	WheretheCompanyisinasoundoperatingcondition,andtheboardofdirectorsconsidersthattheCompany'sstockpricedoesnotreflectthe Company's scale of capital, and issuing shares in lieu of dividendswillbeintheinterestsofallshareholdersoftheCompanyasawhole,aproposalfortheissuanceofsharesinlieuofdividendsmaybeproposeduponfulfillmentoftheaboveconditionsconcerningcashdividends.
Article197	AlterationoftheCompany'sdividenddistributionpolicy:
	Intheeventofwar,naturaldisastersandotherincidentsofforcemajeure,orchangestotheCompany'sexternaloperatingenvironmentresultinginmaterial impact on its production and operation, or considerably significantchangestotheCompany'sownoperatingconditions,theCompanymayadjustitsprofitdistributionpolicy.

	TheboardofdirectorsshallformulateawrittenreportconcerningtheadjustmentoftheCompany'sprofitdistributionpolicyuponaspecialdiscussionwithdetailedverificationandreasonsprovided.Suchwrittenreport,alongwiththeopinionsexpressedbytheindependentdirectors,shallbe submitted to the Shareholders' general meeting for approval by way of aspecialresolution.Inconsideringthechangestotheprofitdistributionpolicy,theCompanymayactivelycommunicateandexchangeideaswiththeShareholders,inparticularthenon-substantialandminorityShareholders,throughvariouschannels(suchasprovidingonlinevotingand inviting non-substantial and minority Shareholders to participate in themeeting), duly listen to the opinions and demands of non- substantial andminorityShareholdersandprovidepromptresponsestotheirquestions.
Article198	ProceduresforconsideringandapprovingthedividenddistributionproposaloftheCompany:
	(1) ThedividendsdistributionplanoftheCompanyshallbedrawnupbythemanagementoftheCompanyandsubmittedtotheboardofdirectorsandthesupervisorycommitteeoftheCompanyforconsideration.TheboardofdirectorsshallthoroughlydiscusstherationalityofthedividendsdistributionplanandtheindependentDirectorsshallexplicitlyexpresstheiropinions.AspecialresolutionformulatedbytheboardofdirectorsshallbesubmittedtotheShareholders'generalmeetingforconsideration.TheboardofdirectorswillalsofullylistentotheopinionsofminorityShareholders.
	(2) WhenformulatingspecificplanfordistributionofcashdividendsbytheCompany,theboardofdirectorsshallstudyandidentifywithcaution the timing, conditions and minimum proportion, conditions foradjustmentand requirements fordecision-making proceduresinvolvedinimplementingthedistributionofcashdividends,etc.IndependentDirectorsshallexplicitlyexpresstheiropinionsthereon.IndependentDirectors may collect opinions from minority shareholders for puttingforwarda profitdistributionproposal whichcanbedirectly submittedtotheboardofdirectorsforconsideration.
	(3) WheretheCompanydoesnotdistributecashdividendsunderthespecial circumstances as prescribed in the foregoing Article 196, theboard of directors shall explain the specific reasons for not distributingcashdividends,theexactpurposefortheretainedprofitandtheestimated investment return. Such explanation, along with the opinionsexpressedbytheindependentdirectors,shallbesubmittedtotheshareholders'generalmeetingforconsiderationandbedisclosedonthedesignatedmediaoftheCompany.

	SubjecttoArticle64andsubparagraph(20)ofthefirstparagraphofArticle114 of these Articles of Association, the board of directors may decide todistributeinterimorspecialdividends.
Article199	Aftertheresolutionofprofitdistributionhasbeenadoptedbytheshareholdersatageneralmeeting,theboardofdirectorsoftheCompanyisrequiredtocompletethedistributionofdividends(orshares)within2monthsfollowingthemeeting.
	IncaseoftheShareholders'illegaloccupationofcompanyfunds,theCompanyshalldeductthecashdividendsdistributedtosuchShareholders,inordertorepaytheShareholders'fundsoccupied.
Article200	TheCompanyshalldeclareandpaycashdividendsandotheramountswhich are payable to holders of A Shares in Renminbi. The Company shallcalculateanddeclarecashdividendsandotherpaymentswhicharepayableto holders of Foreign Shares in Renminbi, and shall pay such amounts in thelocal currency of the jurisdiction where Overseas-Listed Foreign Shares arelisted (in case there are more than one jurisdictions of listing, such amountsshallbepaidinthelocalcurrencyofthejurisdictionwhichtheboarddetermines as the main listing place of the Company). The foreign exchangerequiredbytheCompanytopaycashdividendsandotheramountstoholdersofOverseas-ListedForeignSharesshallbeobtainedinaccordancewiththerelevantforeignexchangeadministrativeregulationsoftheState.
Article201	Unlessotherwiseprovidedforinrelevantlawsandadministrativeregulations,wherecashdividendsandotheramountsaretobepaidinHongKongdollars,theapplicableexchangerateshallbetheaverageclosingratefortherelevantforeigncurrencyannouncedbythePeoples'Bank of China during the week prior to the announcement of payment ofdividendandotheramounts.
Article202	When distributing dividends to its shareholders, the Company shall withholdand pay on behalf of its shareholders the taxes levied on the dividends inaccordancewiththeprovisionsofthePRCtaxlaw.
Article203	TheCompanyshallappointreceivingagentsforholdersoftheOverseas-Listed Foreign Shares. Such receiving agents shall receive dividends whichhavebeendeclaredbytheCompanyandallotheramountswhichtheCompany should pay to holders of Overseas-Listed Foreign Shares on suchshareholders'behalf.
	ThereceivingagentsappointedbytheCompanyshallmeettherelevantrequirementsofthelawsoftheplaceatwhichthestockexchangeonwhichtheCompany'ssharesarelistedortherelevantregulationsofsuchstockexchange.

	ThereceivingagentsappointedforholdersofOverseas-ListedForeignShares listed in Hong Kong shall each be a company registered as a trustcompanyundertheTrusteeOrdinanceofHongKong.
Article204	TheCompanyshallestablishaninternalauditsystembyemployingprofessionalauditingpersonnel,whoshallconductinternalauditandsupervisionontheincomeandexpensesandeconomicactivitiesoftheCompany.
Article205	TheCompany'sbasicsystemsforinternalauditandinternalcontrolassessmentshallbecomeeffectiveaftertheapprovaloftheboardofdirectors.TheestablishmentoftheinternalauditinstitutionoftheCompanyandthepersonincharge,whoshallbeaccountabletotheboardofdirectorsand shall report to the board of directors, are determined by the board ofdirectors.
CHAPTER18:APPOINTMENTOFACCOUNTANCYFIRM
Article206	TheCompanyshallappointanindependentfirmofaccountantswhichisqualified under the relevant regulations of the State to audit the Company'sannualreport.SuchfirmofaccountantsshallalsoreviewtheCompany'sotherfinancialreports,verifythe netassetsandcarryout otherbusinessessuchastherelevantconsultationservices.
	The first auditors of the Company may be appointed before the first annualgeneralmeetingoftheCompanyattheinauguralmeeting.Auditorssoappointed shall hold office until the conclusion of the first annual generalmeeting.
	Iftheinauguralmeetingdoesnotexercisethepowersundertheprecedingparagraph,thosepowersshallbeexercisedbytheboardofdirectors.
Article207	The accounting firm appointed by the Company shall hold office for 1 yearfrom the conclusion of the annual general meeting of shareholders at whichtheywereappointeduntiltheconclusionofthenextannualgeneralmeetingofshareholders.Theappointmentthereofmayberenewedatexpiry.
Article208	TheaccountingfirmappointedbytheCompanyshallenjoythefollowingrights:
	(1) arighttoreviewtothebooks,recordsandvouchersoftheCompanyat any time, the right to require the directors, president, vice presidentsandotherseniorofficersoftheCompanytosupplyrelevantinformationandexplanations;

	(2) arighttorequiretheCompanytotakeallreasonablestepstoobtainfromitssubsidiariessuchinformationandexplanationasarenecessaryforthedischargeofitsduties;
	(3) arighttoattendshareholders'generalmeetingsandtoreceiveallnoticesof,andothercommunicationsrelatingto,anyshareholders'generalmeetingwhich anyshareholderisentitledto receive,andtospeakatanyshareholders'generalmeetinginrelationtomattersconcerningitsroleastheCompany'saccountingfirm.
Article209	IfthereisavacancyinthepositionofaccountantoftheCompany,theboardofdirectorsmayappointanaccountingfirmtofillsuchvacancybeforetheconveningoftheshareholders'generalmeeting.AnyotheraccountingfirmwhichhasbeenappointedbytheCompanymaycontinuetoactduringtheperiodduringwhichavacancyarises.
Article210	The shareholdersina generalmeeting maybyordinary resolutionremovethe Company's accounting firms before the expiration of its term of office,irrespective of the provisions in the contract between the Company and theCompany'saccountantfirm.However,theaccountingfirm'srighttoclaimfordamageswhicharisefromitsremovalshallnotbeaffectedthereby.
Article211	Theremunerationofanaccountingfirmorthemannerinwhichsuchfirmistoberemuneratedshallbedeterminedbytheshareholdersinageneralmeeting. The remuneration of an accounting firm appointed by the board ofdirectorsshallbedeterminedbytheboardofdirectors.
Article212	TheCompany'sappointment,removalornon-reappointmentofanaccountingfirmshallberesolvedbytheshareholdersinageneralmeeting,andshallfilesuchresolutionswiththeauthorityinchargeofsecuritiesoftheStateCouncilforrecord.
	Whereageneralmeetingofshareholdersisproposedtoresolvetoappointan accounting firm other than an incumbent accounting firm to fill a casualvacancyofanaccountant,ortoreappointastheaccountantaretiringaccounting firm that was appointed by the board of directors to fill a casualvacancy,ortodismissanaccountingfirmbeforetheexpirationofitstermofoffice,thefollowingprovisionsshallapply:
	(1) A copy of the appointment or removal proposal shall be sent (beforenotice of meeting is given to the shareholders) to the accounting firmproposedtobeappointedorproposingtoleaveitspostorthefirmwhichhasleftitspostintherelevantfiscalyear(leavingincludesleavingbyremoval,resignationandretirement).

	(2) If the accounting firm leaving its post makes representations in writingandrequeststheCompanytogivetheshareholdersnoticeofsuchrepresentations,theCompanyshall(unlesstherepresentationshavebeenreceivedtoolate)takethefollowingmeasures:
	(a) inthenoticeoftheshareholders'meeting,statethefactoftherepresentationshavingbeenmade;and
	(b) attach a copy of the representations to thenotice and deliver it totheshareholdersinthemannerstipulatedintheCompany'sArticlesofAssociation.
	(3) IftheCompanyfailstosendouttheaccountingfirm'srepresentationsinthemannersetoutinsub-paragraph(2)above,suchaccountingfirmmayrequirethattherepresentationsbereadoutatthemeeting.
	(4) Anaccountingfirmwhichisleavingitspostshallbeentitledtoattendthefollowingshareholders'generalmeetings:
	(a) thegeneralmeetingatwhichitstermofofficewouldotherwisehaveexpired;
	(b) thegeneralmeetingatwhich itisproposedtofillthevacancycausedbyitsremoval;and
	(c) thegeneralmeetingwhichconvenedasaresultofitsresignation,andtoreceiveallnoticesof,andothercommunicationsrelatingto,anysuchmeeting,andtospeakatanysuchmeetingwhichconcernsitasformerauditoroftheCompany.
Article213	Noticeshouldbegiventen(10)daysinadvancetotheaccountingfirmifthe Company decides to remove such accounting firm or not to renew theappointmentthereof.Suchaccountingfirmshallbeentitledtomakerepresentationsattheshareholders'generalmeeting.Wheretheaccountingfirm resigns from its position, it shall make clear to the shareholders in ageneral meeting whether there has been any impropriety on the part of theCompany.

	AnaccountingfirmmayresignitsofficebydepositingattheCompany'slegaladdressaresignationnoticewhichshallbecomeeffectiveonthedateofsuchdepositoronsuchlaterdateasmaybestipulatedinsuchnotice.Suchnoticeshallcontainthefollowingstatements:
	(1) astatementtotheeffectthattherearenocircumstancesconnectedwithitsresignationwhichitconsidersshouldbebroughttothenoticeoftheshareholdersorcreditorsoftheCompany;or
	(2) astatementofanysuchcircumstances.
	TheCompanyshall,withinfourteen(14)daysafterreceiptofthenoticereferredtointheprecedingparagraph,serveacopyofthenoticetothecompetentgoverningauthority.Ifthenoticecontainsthestatementunderthe preceding sub- paragraph (2), a copy of such statement shall be madeavailableattheCompanyforshareholders'inspection.TheCompanyshallalsosendacopyofsuchstatementbyprepaidmailtoeachholderofOverseas-Listed Foreign Shares at the address registered in the register ofshareholders.Notwithstandingtheabove,providedthatthelawsandregulationsandtherelevantlistingrulesofthejurisdictionswherethesharesoftheCompanyarelistedarecompliedwith,theabovementionednoticemayalsobeservedtotheholdersofOverseas-ListedForeignSharesbyothermeansasspecifiedinArticle231herein.
	Wheretheaccountingfirm'snoticeofresignationcontainsastatementinrespectoftheabove,itmayrequiretheboardofdirectorstoconveneashareholders' extraordinary general meeting for the purpose of receiving anexplanationofthecircumstancesconnectedwithitsresignation.
CHAPTER19:MERGERANDDEMERGEROFTHECOMPANY
Article214	TheCompanymayconductmergerordemergerinaccordancewiththelaw.
	In the event of the merger or demerger of the Company, the Company shalladoptnecessarymeasurestoprotectthelegalrightsandinterestsofshareholderswhoobjecttothemergerordemergeroftheCompany.
	A shareholder who objects to the plan of merger or demerger shall have therighttodemandtheCompanyortheshareholderswhoconsenttotheplanofmergerordemergertoacquiresuchdissentingshareholders'shareholdingatafairprice.

	The contents of the resolution of merger or demerger of the Company shallconstitute special documents which shall be available for inspection by theshareholdersoftheCompany.SuchspecialdocumentsshallbesentbymailtoholdersofOverseas-ListedForeignShares.
Article215	ThemergeroftheCompanymaytaketheformofeithermergerbyabsorptionormergerbytheestablishmentofanewcompany.
	Intheeventofamerger,themergingpartiesshallexecuteamergeragreementandprepareabalancesheetandaninventoryofassets.TheCompany shall notify its creditors within ten (10) days of the date of theCompany'smergerresolutionandshallpublishapublicnoticeinanewspaperwithinthirty(30)daysofthedateoftheCompany'smergerresolution.
	Uponthemerger,rightsinrelationtodebtorsandindebtednessofeachofthemergedpartiesshallbeassumedbythecompanywhichsurvivesthemergerorthenewlyestablishedcompany.
Article216	WherethereisademergeroftheCompany,itsassetsshallbedividedupaccordingly.
	In the event of demerger of the Company, the parties to such demerger shallexecuteademergeragreementandprepareabalancesheetandaninventoryofassets.TheCompanyshallnotifyitscreditorswithinten(10)daysofthedateoftheCompany'sdivisionresolutionandshallpublishapublicnoticeinanewspaperatleastthree(3)timeswithinthirty(30)daysofthedateoftheCompany'sdemergerresolution.
	Debts of the Company prior to demerger shall be assumed by the companieswhichexistafterthedivisiononajointandseveralbasisexcepttotheextent that prior to demerger, the Company has otherwise reached a writtenagreementwithitscreditorsinrespectofthesettlementofdebts.
Article217	TheCompanyshall,inaccordancewithlaw,applyforchangeinitsregistration with the companies registration authority where a change in anyiteminitsregistrationarisesasaresultofanymergerordivision.Wherethe Company is dissolved, the Company shall apply for cancellation of itsregistrationinaccordancewithlaw.Whereanewcompanyisestablished,theCompanyshallapplyforregistrationthereofinaccordancewithlaw.

CHAPTER20:DISSOLUTIONANDLIQUIDATION
Article218	TheCompanyshallbedissolvedandliquidatedupontheoccurrenceofanyofthefollowingevents:
	(1) aresolutionfordissolutionispassedbyshareholdersatageneralmeeting;
	(2) dissolutionisnecessaryduetoamergerordemergeroftheCompany;
	(3) theCompanyislegallydeclaredinsolventduetoitsfailuretorepaydebtsastheybecomedue;and
	(4) thecompanyhasitsbusinesslicencerevoked,orisorderedtocloseuportohaveitsbusinesscancelledinaccordancewiththelaw;or
	(5) If a company has encountered serious difficulties in its operations andmanagementandthecompany'scontinuedexistencemaymateriallyharmtheinterestsoftheshareholders,andifthesamefailstoberesolvedbyanyothermeans,shareholdersholdingtenpercentormoreof the aggregate voting rights of the Company may request a People'sCourttodissolvethecompany.
Article219	Aliquidationcommitteeshallbesetupwithinfifteen(15)daysoftheCompanybeingdissolvedpursuanttosub-paragraphs(1),(3),(4)and(5)oftheprecedingArticle,andthecompositionoftheliquidationcommitteeoftheCompanyshallbedeterminedbyanordinaryresolutionofshareholdersinageneralmeeting.IftheCompanyfailstosetuptheliquidationcommitteewithinthetimelimit,thecreditorsmayapplytothePeople'sCourtforappointmentofrelevantpersonstoformaliquidationcommitteeandcarryoutliquidation.
Article220	WheretheboardofdirectorsproposestoliquidatetheCompanyforanyreasonotherthantheCompany'sdeclarationofitsowninsolvency,theboardshallincludeastatementinitsnoticeconveningashareholders'general meeting to consider the proposal to the effect that, after making fullinquiryintotheaffairsoftheCompany,theboardofdirectorsisoftheopinionthattheCompanywillbeabletopayitsdebtsinfullwithintwelve (12)monthsfromthecommencementoftheliquidation.
	Uponthepassingoftheresolutionbytheshareholdersinageneralmeetingfor the liquidation of the Company, all functions and powers of the board ofdirectorsshallcease.

	Theliquidationcommitteeshallactinaccordancewiththeinstructionsoftheshareholders'generalmeetingtomakeareportatleastonceeveryyeartotheshareholders'generalmeetingonthecommittee'sincomeandexpenses,thebusinessoftheCompanyandtheprogressoftheliquidation;andtopresentafinalreporttotheshareholders'generalmeetingoncompletionoftheliquidation.
Article221	The liquidationcommitteeshall, withinten (10)daysof itsestablishment,sendnoticestocreditorsandshall,withinsixty(60)daysofitsestablishment,publishapublicannouncementinanewspaper.Theliquidationcommitteeshallnotmakerepaymenttocreditorsduringtheclaimsdeclarationperiod.
Article222	Duringtheliquidationperiod,theliquidationcommitteeshallexercisethefollowingfunctionsandpowers:
	(1) tosortouttheCompany'sassetsandprepareabalancesheetandaninventoryofassetsrespectively;
	(2) tonotifythecreditorsortopublishpublicannouncements;
	(3) todisposeofandliquidateanyunfinishedbusinessesoftheCompany;
	(4) topayalloutstandingtaxesandtaxesincurredduringtheliquidationprocess;
	(5) tosettleclaimsanddebts;
	(6) todealwiththesurplusassetsremainingaftertheCompany'sdebtshavebeenrepaid;
	(7) torepresenttheCompanyinanycivilproceedings.
Article223	After it has sorted out the Company's assets and after it has prepared thebalancesheetandaninventoryofassets,theliquidationcommitteeshallformulatealiquidationplanandpresentittoashareholders'generalmeetingortotherelevantgoverningauthorityforconfirmation.
	Afterthepaymentofliquidationexpenseswithpriority,theCompany'sassetsshallbedistributedinaccordancewiththefollowingsequence:(i)salaries;(ii)socialinsurancepremiumsandstatutorycompensationpayments;(iii)outstandingtaxes;(iv)bankloans,andcompanybondsandotherdebtsoftheCompany.

	AnysurplusassetsoftheCompanyremainingafterpaymentreferredtointheprecedingparagraphshallbedistributedtoitsshareholdersaccordingtotheclassofsharesandtheproportionofsharesheldinthefollowingsequence:
	(1) Inthecaseofpreferentialshares,distributionshallbemadetoholdersof such preferential shares according to the par value thereof; if thesurplusassetsarenotsufficienttorepaytheamountofpreferentialsharesinfull,thedistributionshallbemadetoholdersofsuchsharesinproportiontotheirrespectiveshareholdings.
	(2) Inthecaseofordinaryshares,distributionshallbemadetoholdersofsuchsharesinproportiontotheirrespectiveshareholdings.
	Duringtheliquidationperiod,theCompanyshallnotcommenceanybusinessactivitiesthatarenotrelatedtoliquidation.
Article224	If after putting the Company's assets inorder and preparing a balance sheetandaninventoryofassetsinconnectionwiththeliquidationoftheCompany,theliquidationcommitteediscoversthattheCompany'sassetsareinsufficienttorepaytheCompany'sdebtsinfull,theliquidationcommitteeshallimmediatelyapplytothePeople'sCourtforadeclarationofinsolvency.
	After a Company is declared insolvent by a ruling of the People's Court, theliquidationcommitteeshalltransferallmattersarisingfromtheliquidationtothePeople'sCourt.
Article225	Following the completion of the liquidation, the liquidation committee shallpreparea liquidationreport,astatement ofincomeand expenses receivedandmadeduringtheliquidationperiodandafinancialreport,whichshallbeverifiedbyaChineseregisteredaccountantandsubmittedtotheshareholders'generalmeetingortherelevantgoverningauthorityforconfirmation.
	Theliquidationcommitteeshall,withinthirty(30)daysaftersuchconfirmation,submitthedocumentsreferredtointheprecedingparagraphtothecompaniesregistrationauthorityandapplyforcancellationofregistrationoftheCompany,andpublishapublicannouncementrelatingtotheterminationoftheCompany.
CHAPTER21:PROCEDURESFORAMENDMENTOFTHECOMPANY'SARTICLESOFASSOCIATION
Article226	The Company may amend its Articles of Association in accordance with therequirementsoflaws,administrativeregulationsandtheArticlesofAssociation.

Article227	TheamendmenttotheArticlesofAssociationshallbehandledinaccordancewiththefollowingprocedures:
	(1) Theboard ofdirectorsshall adopta resolutionthereforinaccordancewith these Articles of Association and formulate the proposal for theamendmentoftheArticlesofAssociation;ortheshareholdersshallproposetheproposalfortheamendmentoftheArticlesofAssociation;
	(2) Theshareholdersshallbenotifiedoftheamendmentproposalandashareholders'generalmeetingshallbeconvenedtoreacharesolution;
	(3) ContentoftheamendmenttotheArticlesofAssociationshallbeadoptedbyspecialresolutions.
Article228	TheCompanyshallamendtheseArticlesofAssociationunderanyofthefollowingcircumstances:
	(1) followingtheamendmentstotheCompanyLaworotherrelevantlawsoradministrativeregulations,themattersprovidedforintheseArticlesof Association conflict with the requirements of the amended laws oradministrativeregulations;
	(2) followingthechangeinthestateoftheCompany'saffairs,itsconditionsbecomeinconsistentwithmattersprovidedforintheseArticlesofAssociation;
	(3) followingaresolutionpassedatatheshareholdersingeneralmeeting,itisdeterminedtoamendtheArticlesofAssociation.
Article229	Amendment of the Articles of Association which involve the contents of theMandatoryProvisionsofOverseas-ListedCompanies'ArticlesofAssociationshallbecomeeffectiveuponreceiptofapprovalsfromthecompaniesapprovingdepartmentauthorizedbytheStateCouncil.
Article230	WhereamendmentsoftheArticlesofAssociationinvolvetheregisteredparticulars of the Company, procedures for alteration of registration shall behandledinaccordancewiththelaw.MattersonamendmenttotheArticlesofAssociationshallbepubliclydisclosedifsorequiredbylawsandadministrativeregulations.

CHAPTER22:NOTICESANDPUBLICANNOUNCEMENTS
Article231	TheCompany'snotices(forthepurposeofthischapter,theterm"Notice"shall include the notice of any meetings, corporate communications or otherwrittenmaterialsissuedbytheCompanytoitsshareholders)maybedeliveredbythefollowingmeans:(1)bydesignatedperson;(2)bymail;(3)by way of public announcement; (4) by other means as recognised by thesecuritiesregulatoryauthorityandstockexchangeinthejurisdictionswherethesharesoftheCompanyarelistedorbyothermeansasprovidedinArticlesofAssociation.
	The Company's notices delivered by way of public announcement shall bepublishedinthenewspapersdesignatedbythesecuritiesregulatoryauthorityandstockexchangeofthejurisdictionswherethesharesoftheCompanyarelisted(ifany)and/orinotherdesignatedmedia(includingwebsites).
	Asforthemethodsinwhichthecorporatecommunicationsareprovidedand/ordistributedbytheCompanytoholdersofOverseas-ListedForeignSharesasrequiredbyHongKongListingRules,thecorporatecommunicationsmay,subjecttocompliancewiththelawsandregulationsandtherelevantlistingrulesofthejurisdictionswherethesharesoftheCompanyarelisted,alsobesentorprovidedbytheCompanytotheholdersof Overseas-Listed Foreign Shares by any electronic means or by publishingsuchcorporatecommunicationsontheCompany'swebsite,insteadofsending such corporate communications by personal delivery or by prepaidpostagemailtotheholdersofOverseas-ListedForeignShares.
	Theterm"CorporateCommunication" refersto any document issuedor tobeissuedbytheCompanytotheholdersofitssecuritiesfortheirinformationoraction,includingbutnotlimitedto:
	(1) thedirectors'report,annualaccountsoftheCompanytogetherwiththeauditors'reportand,whereapplicable,thesummaryofitsfinancialreport;
	(2) theinterimreportand,whereapplicable,thesummaryofitsinterimreport;
	(3) thenoticeofmeeting;
	(4) thelistingdocument;
	(5) thecircular;and

	(6) theproxyform.
Article232	IfthenoticeoftheCompanyisgiveninperson,therecipientshallsign(orseal) on the return receipt and the date of signing the return receipt by therecipientshallbedeemedtobethedateofdelivery.
	IfanoticeoftheCompanyismadebypublicannouncement, thedateofserviceshallbethedateonwhichthefirst announcementispublished.IfthecorporatecommunicationismadeorprovidedattheCompany'swebsitetoholdersofOverseas-ListedForeignShares,suchcorporatecommunicationshallbedeemedtobemadeandservedatthelaterof: (1)thedateonwhichanoticenotifyingthatthecorporatecommunicationhasalreadybeenpublishedontheCompany'swebsiteisissuedtoholdersofOverseas-ListedForeignSharespursuanttotheHongKongListingRules;or(2)thedateonwhichthecorporatecommunicationisfirstpublishedontheCompany'swebsite(intheeventthatcorporatecommunicationispublishedonthewebsitesubsequenttotheissuanceofthesaidnotice).
Article233	Whereanoticeissentbypost,thenoticeshallbeputintoaclearlyaddressedandprepaidpostageenvelope.Suchnoticeshallbedeemedtohavebeenissuedonthedateonwhichtheenvelopecontainingthenoticehas been delivered to the post office and served on the third working daycommencingfromthedateofissue.
CHAPTER23:DISPUTERESOLUTION
Article234	TheCompanyshallabidebythefollowingprinciplesfordisputeresolution:
	(1) Wheneveranydisputesorclaimsarisebetween:holdersoftheOverseas-ListedForeignSharesandtheCompany;holdersoftheOverseas-ListedForeignSharesandtheCompany'sdirectors,supervisors,president,vicepresidentsorotherseniorofficers;orholdersoftheOverseas-ListedForeignSharesandholdersofothershares,inrespectofanyrightsorobligationsarisingfromtheseArticles of Association, the Company Law or any rights or obligationsconferredorimposedbytheCompanyLawandotherrelevantlawsand administrative regulations concerning the affairs of the Company,suchdisputesorclaimsshallbereferredbytherelevantpartiestoarbitration.
	Where a dispute or claim of rights referred to in the preceding paragraph isreferredtoarbitration,theentireclaimordisputemustbereferredtoarbitration,andallpersonswhohaveacauseofactionbasedonthesamefactsgivingrisetothedisputeorclaimorwhoseparticipationisnecessaryfortheresolutionofsuchdisputeorclaim,shall,wheresuchpersonisthe

	Company,theCompany'sshareholders,directors,supervisors,president,vicepresidentsorotherseniorofficersoftheCompany,complywiththearbitration.Disputesinrespectofthedefinitionofshareholdersanddisputesinrelationtotheregisterofshareholdersneednotberesolvedbyarbitration.
	(2) AclaimantmayelectforarbitrationtobecarriedoutateithertheChinaInternationalEconomicandTradeArbitrationCommissioninaccordance with its Rules or the Hong Kong International ArbitrationCentreinaccordancewithitsSecuritiesArbitrationRules.Onceaclaimant refers a dispute or claim to arbitration, the other party mustsubmittothearbitralbodyelectedbytheclaimant.
	IfaclaimantelectsforarbitrationtobecarriedoutatHongKongInternationalArbitrationCentre,anypartytothedisputeorclaimmayapplyfor a hearing to take place in Shenzhen in accordance with the SecuritiesArbitrationRulesoftheHongKongInternationalArbitrationCentre.
	(3) If any disputes or claims of rights are settled by way of arbitration inaccordance with sub-paragraph (1) of this Article, the laws of the PRCshall apply, save as otherwise provided in the laws and administrativeregulations.
	(4) Theawardofanarbitralbodyshallbefinalandconclusiveandbindingonallparties.
CHAPTER24:SUPPLEMENTARY
Article235	These Articles of Associationarewritten in Chinese and English. If thereisany discrepancy between the Chinese version and the English version, theChineseversionshallprevail.
Article236	TheboardofdirectorsoftheCompanyshallberesponsiblefortheinterpretationoftheseArticlesofAssociation,andtheshareholdersingeneralmeetingshallhavetherighttoamendtheArticlesofAssociation.
Article237	IntheseArticlesofAssociation,referenceto"accountingfirm"shallhavethesamemeaningas"auditor".
Article238	For the purpose of these Articles of Association, the terms "not less than","within", "not more than" are all inclusive terms and the terms "more thanhalf","lessthan","beyond"and"exceed"areexclusiveterms.

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