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April 11, 2012
						
	
SECURITIES & EXCHANGE COMMISSION
450 Fifth Street, NW
Washington, DC 20549			
		
Attn.: Document Control 			
	

			
RE:	American Depositary Receipts 
representing twenty five deposited shares of
 NETEASE.COM
(Form F6, Registration No.  
333115868)


Ladies and Gentlemen:

Pursuant to Rule 424(b)(3) under the 
Securities Act of 1933, as amended, on 
behalf of The Bank of New York Mellon, as 
Depositary for securities against which 
American Depositary Receipts are to be 
issued, we attach a copy of the new 
prospectus (Prospectus) reflecting the change 
in the company name to NetEase, Inc.

As required by Rule 424(e), the upper right 
hand corner of the Prospectus cover page has 
a reference to Rule 424(b)(3) and to the file 
number of the registration statement to which 
the Prospectus relates.

Pursuant to Section III B of the 
General Instructions to the 
Form F6 Registration 
Statement, the Prospectus 
consists of the ADR certificate 
with the revised name for 
NETEASE.COM
 .

The Prospectus has been revised to reflect the 
new name, and has been over stamped with:   
                                
Effective April 12, 2012 the 
Company has changed its name 
to NetEase, Inc.

Please contact me with any questions or 
comments at 212 8152281


Rajan Balsara
Vice President
The Bank of New York Mellon  ADR 
Division 
 







101 Barclay Street, 22nd Floor West, New York, NY 10286



EXHIBIT A

RULE 424(b)(3)FORM F6 #: 
333115868

EFFECTIVE APRIL 12, 2012 THE 
COMPANY HAS CHANGED ITS NAME 
TO NETEASE, INC.





EXHIBIT A
AMERICAN DEPOSITARY SHARES
Each American Depositary Share 
represents one hundred (100) 
deposited Shares)
THE BANK OF NEW YORK
AMERICAN DEPOSITARY RECEIPT
FOR ORDINARY SHARES,
PAR VALUE OF $ 0.0001 EACH,
OF
NETEASE.COM, INC.
(INCORPORATED UNDER THE LAWS OF 
THE CAYMAN ISLANDS)
The Bank of New York, as 
depositary (hereinafter called 
the Depositary), hereby 
certifies that ________________, 
or registered assigns IS THE 
OWNER OF _____________________
AMERICAN DEPOSITARY SHARES
representing deposited Ordinary 
Shares, par value of $0.0001 
each (herein called Shares), of 
Netease.com, Inc., incorporated 
with limited liability under the 
laws of the Cayman Islands 
(herein called the Company).  At 
the date hereof, each American 
Depositary Share represents one 
hundred (100) Shares deposited 
or subject to deposit under the 
Deposit Agreement (as such term 
is hereinafter defined) at the 
principal Hong Kong office of 
The Hongkong and Shanghai 
Banking Corporation Limited 
(herein called the Custodian).  
The Depositarys Corporate Trust 
Office is located at a different 
address than its principal 
executive office.  Its Corporate 
Trust Office is located
 at 101 
Barclay Street, New York, N.Y. 
10286, and its principal 
executive office is located at 
One Wall Street, New York, N.Y. 
10286.


THE DEPOSITARYS CORPORATE TRUST 
OFFICE ADDRESS IS 
101 BARCLAY STREET, NEW YORK, 
N.Y. 10286



      1.	T
HE DEPOSIT AGREEMENT.
This American Depositary Receipt 
is one of an issue (herein 
called Receipts), all issued and 
to be issued upon the terms and 
conditions set forth in the 
deposit agreement, dated as of 
July 6, 2000 (herein called the 
Deposit Agreement), by and among 
the Company, the Depositary, and 
all Owners and Beneficial Owners 
from time to time of Receipts 
issued thereunder, each of whom 
by accepting a Receipt agrees to 
become a party thereto and 
become bound by all the terms 
and conditions thereof.  The 
Deposit Agreement sets forth the 
rights of Owners and Beneficial 
Owners of the Receipts and the 
rights and duties of the 
Depositary in respect of the 
Shares deposited thereunder and 
any and all other securities, 
property and cash from time to 
time received in respect of such 
Shares and held thereunder (such 
Shares, securities, property, 
and cash are herein called 
Deposited Securities).  Copies 
of the Deposit Agreement are on 
file at the Depositarys 
Corporate Trust Office in New 
York City and at the office of 
the Custodian.
            The statements made 
on the face and reverse of this 
Receipt are summaries of certain 
provisions of the Deposit 
Agreement and are qualified by 
and subject to the detailed 
provisions of the Deposit 
Agreement, to which reference is 
hereby made.  Capitalized terms 
defined in the Deposit Agreement 
and not defined herein shall 
have the meanings set forth in 
the Deposit Agreement.
      2.	S
URRENDER OF RECEIPTS AND 
WITHDRAWAL OF SHARES.
            Upon surrender at the 
Corporate Trust Office of the 
Depositary of this Receipt, and 
upon payment of the fee of the 
Depositary provided in this 
Receipt, and subject to the 
terms and conditions of the 
Deposit Agreement, the Owner 
hereof is entitled to delivery, 
to him or upon his order, of the 
Deposited Securities at the time 
represented by the American 
Depositary Shares for which this 
Receipt is issued.  Delivery of 
such Deposited Securities may be 
made by the delivery of (a) 
certificates in the name of the 
Owner hereof or as ordered by 
him or certificates properly 
endorsed or accompanied by 
proper instruments of transfer 
and (b) any other securities, 
property and cash to which such 
Owner is then entitled in 
respect of this Receipt.  Such 
delivery will be made at the 
option of the Owner hereof, 
either at the office of the 
Custodian or at the Corporate 
Trust Office of the Depositary, 
provided that the forwarding of 
certificates for Shares or other 
Deposited Securities for such 
delivery at the Corporate Trust 
Office of the Depositary shall 
be at the risk and expense of 
the Owner hereof.
      3.	T
RANSFERS, SPLITUPS, AND 
COMBINATIONS OF RECEIPTS.
            The transfer of this 
Receipt is registrable on the 
books of the Depositary at its 
Corporate Trust Office by the 
Owner hereof in person or by a 
duly authorized attorney, upon 
surrender of this Receipt 
properly endorsed for transfer 
or accompanied by proper 
instruments of transfer and 
funds sufficient to pay any 
applicable transfer taxes and 
the expenses of the Depositary 
and upon compliance with such 
regulations, if any, as the 
Depositary may establish for 
such purpose.  This Receipt may 
be split into other such 
Receipts, or may be combined 
with other such Receipts into 
one Receipt, evidencing the same 
aggregate number of American 
Depositary Shares as the Receipt 
or Receipts surrendered.  As a 
condition precedent to the 
execution and delivery, 
registration of transfer, 
splitup, combination, or 
surrender of any Receipt or 
withdrawal of any Deposited 
Securities, the Depositary, the 
Custodian, or Registrar may 
require payment from the 
depositor of the Shares or the 
presentor of the Receipt of a 
sum sufficient to reimburse it 
for any tax, stamp duty or other 
governmental charge and any 
stock transfer or registration 
fee with respect thereto 
(including any such tax or 
charge and fee with respect to 
Shares being deposited or 
withdrawn) and payment of any 
applicable fees as provided in 
this Receipt, may require the 
production of proof satisfactory 
to it as to the identity and 
genuineness of any signature and 
may also require compliance with 
any regulations the Depositary 
may establish consistent with 
the provisions of the Deposit 
Agreement or this Receipt, 
including, without limitation, 
this Article 3.
            The delivery of 
Receipts against deposit of 
Shares generally or against 
deposit of particular Shares may 
be suspended, or the transfer of 
Receipts in particular instances 
may be refused, or the 
registration of transfer of 
outstanding Receipts generally 
may be suspended, during any 
period when the transfer books 
of the Depositary are closed in 
accordance with Section 5.01 of 
the Deposit Agreement, or if any 
such action is deemed necessary 
or advisable by the Depositary 
or the Company at any time or 
from time to time because of any 
requirement of law or of any 
government or governmental body 
or commission, or under any 
provision of the Deposit 
Agreement or this Receipt, or 
for any other reason, subject to 
the provisions of the following 
sentence.  Notwithstanding 
anything to the contrary in the 
Deposit Agreement or this 
Receipt, the surrender of 
outstanding Receipts and 
withdrawal of Deposited 
Securities may not be suspended 
subject only to (i) temporary 
delays caused by closing the 
transfer books of the Depositary 
or the Company or the deposit of 
Shares in connection with voting 
at a shareholders meeting, or 
the payment of dividends, (ii) 
the payment of fees, taxes and 
similar charges, and (iii) 
compliance with any U.S. or 
foreign laws or governmental 
regulations relating to the 
Receipts or to the withdrawal of 
the Deposited Securities.  
Without limitation of the 
foregoing, the Depositary shall 
not knowingly accept for deposit 
under the Deposit Agreement any 
Shares required to be registered 
under the provisions of the 
Securities Act of 1933, unless a 
registration statement is in 
effect as to such Shares.
      4.	L
IABILITY OF OWNER OR 
BENEFICIAL OWNER FOR TAXES.
            If any tax or other 
governmental charge shall become 
payable with respect to any 
Receipt or any Deposited 
Securities represented hereby, 
such tax or other governmental 
charge shall be payable by the 
Owner or Beneficial Owner hereof 
to the Depositary.  The 
Depositary may refuse to effect 
any transfer of this Receipt or 
any withdrawal of Deposited 
Securities represented by 
American Depositary Shares 
evidenced by such Receipt until 
such payment is made, and may 
withhold any dividends or other 
distributions, or may sell for 
the account of the Owner or 
Beneficial Owner hereof any part 
or all of the Deposited 
Securities represented by the 
American Depositary Shares 
evidenced by this Receipt, and 
may apply such dividends or 
other distributions or the 
proceeds of any such sale in 
payment of such tax or other 
governmental charge and the 
Owner or Beneficial Owner hereof 
shall remain liable for any 
deficiency.
      5.	W
ARRANTIES ON DEPOSIT OF SHARES.
            Every person 
depositing Shares under the 
Deposit Agreement shall be 
deemed thereby to represent and 
warrant that such Shares and 
each certificate therefor are 
validly issued, fully paid, 
nonassessable, and free of any 
preemptive rights of the holders 
of outstanding Shares and that 
the person making such deposit 
is duly authorized so to do.  
Every such person shall also be 
deemed to represent that such 
Shares and the Receipts 
evidencing American Depositary 
Shares representing such Shares 
would not be Restricted 
Securities.  Such 
representations and warranties 
shall survive the deposit of 
Shares and issuance of Receipts.
      6.	F
ILING PROOFS, CERTIFICATES, AND 
OTHER INFORMATION.
            Any person presenting 
Shares for deposit or any Owner 
or Beneficial Owner of a Receipt 
may be required by the Company, 
the Depositary or the Custodian 
from time to time to file with 
the Depositary or the Custodian 
such proof of citizenship or 
residence, legal or beneficial 
ownership, exchange control 
approval, or such information 
relating to the registration on 
the books of the Company or the 
Foreign Registrar, if 
applicable, to execute such 
certificates and to make such 
representations and warranties, 
as the Depositary or the Company 
may deem necessary or proper.  
The Depositary may withhold the 
delivery or registration of 
transfer of any Receipt or the 
distribution of any dividend or 
sale or distribution of rights 
or of the proceeds thereof or 
the delivery of any Deposited 
Securities until such proof or 
other information is filed or 
such certificates are executed 
or such representations and 
warranties made.  If requested 
in writing, the Depositary shall 
promptly provide the Company, at 
the expense of the Company, with 
copies of originals of (i) any 
such proofs of citizenship or 
residence, legal or beneficial 
ownership, or exchange control 
approval that it receives, and 
(ii) any other information or 
documents that the Company may 
reasonably request and the 
Depositary shall require from 
the Owners or Beneficial Owners.  
No Share shall be accepted for 
deposit unless accompanied by 
evidence satisfactory to the 
Depositary that any necessary 
approval has been granted by any 
governmental body in the Cayman 
Islands or Hong Kong which is 
then performing the function of 
the regulation of currency 
exchange.
      7.	C
HARGES OF DEPOSITARY.
            The Company agrees to 
pay the fees, reasonable 
expenses and outofpocket charges 
of the Depositary and those of 
any Registrar only in accordance 
with agreements in writing 
entered into between the 
Depositary and the Company from 
time to time.  The Depositary 
shall present its statement for 
such charges and expenses to the 
Company once every three months.  
The charges and expenses of the 
Custodian are for the sole 
account of the Depositary.
The following charges shall be 
incurred by any party depositing 
or withdrawing Shares or by any 
party surrendering Receipts or 
to whom Receipts are issued 
(including, without limitation, 
issuance pursuant to a stock 
dividend or stock split declared 
by the Company or an exchange of 
stock regarding the Receipts or 
Deposited Securities or a 
distribution of Receipts 
pursuant to Section 4.03 of the 
Deposit Agreement), whichever 
applicable: (1) taxes, stamp 
duty and other governmental 
charges, (2) such registration 
fees as may from time to time be 
in effect for the registration 
of transfers of Shares generally 
on the Share register of the 
Company or Foreign Registrar and 
applicable to transfers of 
Shares to the name of the 
Depositary or its nominee or the 
Custodian or its nominee on the 
making of deposits or 
withdrawals under the terms of 
the Deposit Agreement, (3) such 
cable, telex and facsimile 
transmission expenses as are 
expressly provided in the 
Deposit Agreement, (4) such 
expenses as are incurred by the 
Depositary in the conversion of 
foreign currency pursuant to 
Section 4.05 of the Deposit 
Agreement, (5) a fee of $5.00 or 
less per 100 American Depositary 
Shares (or portion thereof) for 
the execution and delivery of 
Receipts pursuant to 
Section 2.03, 4.03 or 4.04 of 
the Deposit Agreement and the 
surrender of Receipts pursuant 
to Section 2.05 or 6.02 of the 
Deposit Agreement, (6) a fee of 
$.02 or less per American 
Depositary Share (or portion 
thereof) for any cash 
distribution made pursuant to 
Sections 4.01 through 4.04 of 
the Deposit Agreement, (7) a fee 
of $1.50 or less per certificate 
for a Receipt or Receipts for 
transfers made pursuant to 
Section 2.04 of the Deposit 
Agreement and (8) a fee for the 
distribution of securities 
pursuant to Section 4.02 of the 
Deposit Agreement, such fee 
being in an amount equal to the 
fee for the execution and 
delivery of American Depositary 
Shares referred to above which 
would have been charged as a 
result of the deposit of such 
securities (for purposes of this 
clause (8) treating all such 
securities as if they were 
Shares), but which securities 
are instead distributed by the 
Depositary to Owners.
            The Depositary, 
subject to Article 8 hereof, may 
own and deal in any class of 
securities of the Company and 
its affiliates and in Receipts.
      8.	P
RERELEASE OF RECEIPTS.
            The Depositary may 
issue Receipts against the 
delivery by the Company (or any 
agent of the Company recording 
Share ownership) of rights to 
receive Shares from the Company 
(or any such agent).  No such 
issue of Receipts will be deemed 
a PreRelease that is subject to 
the restrictions of the 
following paragraph.
            Unless requested in 
writing by the Company to cease 
doing so, the Depositary may, 
notwithstanding Section 2.03 of 
the Deposit Agreement, execute 
and deliver Receipts prior to 
the receipt of Shares pursuant 
to Section 2.02 of the Deposit 
Agreement (PreRelease).  The 
Depositary may, pursuant to 
Section 2.05 of the Deposit 
Agreement, deliver Shares upon 
the receipt and cancellation of 
Receipts which have been 
PreReleased, whether or not such 
cancellation is prior to the 
termination of such PreRelease 
or the Depositary knows that 
such Receipt has been 
PreReleased.  The Depositary may 
receive Receipts in lieu of 
Shares  in satisfaction of a 
PreRelease.  Each PreRelease 
will be (a) preceded or 
accompanied by a written 
representation and agreement 
from the person to whom Receipts 
are to  be delivered (the 
PreReleasee) that the 
PreReleasee, or its customer, 
(i) owns the shares or Receipts 
to be remitted, as the case may 
be, (ii) assigns all beneficial 
rights, title and interest in 
such Shares or Receipts, as the 
case may be, to the Depositary 
in its capacity as such and for 
the benefit of the Owners, and 
(iii) will not take any action 
with respect to such Shares or 
Receipts, as the case may be, 
that is inconsistent with the 
transfer of beneficial ownership 
(including, without the consent 
of the Depositary, disposing of 
such Shares or Receipts, as the 
case may be), other than in 
satisfaction of such PreRelease, 
(b) at all times fully 
collateralized with cash, U.S. 
government securities or such 
other collateral as the 
Depositary determines, in good 
faith, will provide 
substantially similar liquidity 
and security, (c) terminable by 
the Depositary on not more than 
five (5) business days notice, 
and (d) subject to such further 
indemnities and credit 
regulations as the Depositary 
deems appropriate.  The number 
of Shares not deposited but 
represented by American 
Depositary Shares outstanding at 
any time as a result of 
PreReleases will not normally 
exceed thirty percent (30%) of 
the Shares deposited hereunder; 
provided, however, that the 
Depositary reserves the right to 
disregard such limit from time 
to time as it deems reasonably 
appropriate, and may, with the 
prior written consent of the 
Company, change such limit for 
purposes of general application.  
The Depositary will also set 
Dollar limits with respect to 
PreRelease transactions to be 
entered into hereunder with any 
particular PreReleasee on a 
casebycase basis as the 
Depositary deems appropriate.  
For purposes of enabling the 
Depositary to fulfill its 
obligations to the Owners under 
the Deposit Agreement, the 
collateral referred to in clause 
(b) above shall be held by the 
Depositary as security for the 
performance of the PreReleasees 
obligations to the Depositary in 
connection with a PreRelease 
transaction, including the 
PreReleasees obligation to 
deliver Shares or Receipts upon 
termination of a PreRelease 
transaction (and shall not, for 
the avoidance of doubt, 
constitute Deposited Securities 
hereunder).
            The Depositary may 
retain for its own account any 
compensation received by it in 
connection with the foregoing.
      9.	T
ITLE TO RECEIPTS.
            It is a condition of 
this Receipt and every 
successive Owner and Beneficial 
Owner of this Receipt by 
accepting or holding the same 
consents and agrees, that title 
to this Receipt when properly 
endorsed or accompanied by 
proper instruments of transfer, 
is transferable by delivery with 
the same effect as in the case 
of a negotiable instrument under 
the laws of New York; provided, 
however, that the Depositary, 
notwithstanding any notice to 
the contrary, may treat the 
person in whose name this 
Receipt is registered on the 
books of the Depositary as the 
absolute owner hereof for the 
purpose of determining the 
person entitled to distribution 
of dividends or other 
distributions or to any notice 
provided for in the Deposit 
Agreement or for all other 
purposes.
      10.	V
ALIDITY OF RECEIPT.
            This Receipt shall 
not be entitled to any benefits 
under the Deposit Agreement or 
be valid or obligatory for any 
purpose, unless this Receipt 
shall have been executed by the 
Depositary by the manual 
signature of a duly authorized 
signatory of the Depositary; 
provided however that such 
signature may be a facsimile if 
a Registrar for the Receipts 
shall have been appointed and 
such Receipts are countersigned 
by the manual or facsimile 
signature of a duly authorized 
officer of the Registrar.
      11.	R
EPORTS; INSPECTION OF TRANSFER 
BOOKS.
            The Company is 
subject to the periodic 
reporting requirements of the 
Securities Exchange Act of 1934 
and, accordingly, files certain 
reports with the Securities and 
Exchange Commission (hereinafter 
called the Commission).  Such 
reports and communications will 
be available for inspection and 
copying at the public reference 
facilities maintained by the 
Commission located at 450 Fifth 
Street, N.W., Washington, D.C. 
20549.
            The Depositary will 
make available for inspection by 
Owners of Receipts at its 
Corporate Trust Office any 
reports and communications, 
including any proxy soliciting 
material, received from the 
Company which are both 
(a) received by the Depositary 
as the holder of the Deposited 
Securities and (b) made 
generally available to the 
holders of such Deposited 
Securities by the Company.  The 
Depositary will also send to 
Owners of Receipts copies of 
such reports when furnished by 
the Company pursuant to the 
Deposit Agreement.  Any such 
reports and communications, 
including any such proxy 
soliciting material, furnished 
to the Depositary by the Company 
shall be furnished in English to 
the extent such materials are 
required to be translated into 
English pursuant to any 
regulations of the Commission.
            The Depositary will 
keep books, at its Corporate 
Trust Office, for the 
registration of Receipts and 
transfers of Receipts which at 
all reasonable times shall be 
open for inspection by the 
Owners and the Company provided 
that such inspection shall not 
be for the purpose of 
communicating with Owners of 
Receipts in the interest of a 
business or object other than 
the business of the Company or a 
matter related to the Deposit 
Agreement or the Receipts.
            
      12.	D
IVIDENDS AND DISTRIBUTIONS.
            Whenever the 
Depositary or a Custodian 
receives any cash dividend or 
other cash distribution on any 
Deposited Securities, the 
Depositary will, if at the time 
of receipt thereof any amounts 
received in a foreign currency 
can in the judgment of the 
Depositary be converted on a 
reasonable basis into United 
States dollars transferable to 
the United States, and subject 
to the Deposit Agreement, 
promptly convert such dividend 
or distribution into dollars and 
will promptly distribute the 
amount thus received (net of the 
fees and expenses of the 
Depositary as provided in 
Article 7 hereof and 
Section 5.09 of the Deposit 
Agreement) to the Owners of 
Receipts entitled thereto; 
provided, however, that in the 
event that the Company or the 
Depositary is required to 
withhold and does withhold from 
any cash dividend or other cash 
distribution in respect of any 
Deposited Securities an amount 
on account of taxes, the amount 
distributed to the Owners of the 
Receipts evidencing American 
Depositary Shares representing 
such Deposited Securities shall 
be reduced accordingly.
            Subject to the 
provisions of Section 4.11 and 
5.09 of the Deposit Agreement, 
whenever the Depositary receives 
any distribution other than a 
distribution described in 
Section 4.01, 4.03 or 4.04 of 
the Deposit Agreement, the 
Depositary will, subject to all 
applicable laws, cause the 
securities or property received 
by it to be distributed to the 
Owners entitled thereto, in any 
manner that the Depositary may 
deem equitable and practicable 
for accomplishing such 
distribution; provided, however, 
that if in the opinion of the 
Depositary such distribution 
cannot be made proportionately 
among the Owners of Receipts 
entitled thereto, or if for any 
other reason the Depositary 
deems such distribution not to 
be feasible, the Depositary may 
(after consultation with the 
Company where practicable) adopt 
such method as it may deem 
equitable and practicable for 
the purpose of effecting such 
distribution, including, but not 
limited to, the public or 
private sale of the securities 
or property thus received, or 
any part thereof, and the net 
proceeds of any such sale (net 
of the fees and expenses of the 
Depositary as provided in 
Article 7 hereof and 
Section 5.09 of the Deposit 
Agreement) will be distributed 
by the Depositary to the Owners 
of Receipts entitled thereto all 
in the manner and subject to the 
conditions described in Section 
4.01 of the Deposit Agreement.
            If any distribution 
consists of a dividend in, or 
free distribution of, Shares, 
the Depositary may distribute to 
the Owners of outstanding 
Receipts entitled thereto, 
additional Receipts evidencing 
an aggregate number of American 
Depositary Shares representing 
the amount of Shares received as 
such dividend or free 
distribution subject to the 
terms and conditions of the 
Deposit Agreement with respect 
to the deposit of Shares and the 
issuance of American Depositary 
Shares evidenced by Receipts, 
including the withholding of any 
tax or other governmental charge 
as provided in Section 4.11 of 
the Deposit Agreement and the 
payment of the fees and expenses 
of the Depositary as provided in 
Article 7 hereof and 
Section 5.09 of the Deposit 
Agreement.  In lieu of 
delivering Receipts for 
fractional American Depositary 
Shares in any such case, the 
Depositary will sell the amount 
of Shares represented by the 
aggregate of such fractions and 
distribute the net proceeds, all 
in the manner and subject to the 
conditions described in Section 
4.01 of the Deposit Agreement.  
If additional Receipts are not 
so distributed (except pursuant 
to the preceding sentence), each 
American Depositary Share shall 
thenceforth also represent the 
additional Shares distributed 
upon the Deposited Securities 
represented thereby.
            In connection with 
any distribution to Owners or 
Beneficial Owners and the 
related remittance of any amount 
to any appropriate government or 
regulatory authority required to 
be withheld by the Company or 
the Depositary and owing to such 
authority, the Company or its 
agent may request from the 
Depositary, and the Depositary 
will forward to the Company or 
its agent, such information from 
its records to enable the 
Company or its agent to comply 
with any request from or 
requirement of such authority.  
The Depositary will use 
reasonable efforts to make and 
maintain arrangements to assist 
Owners and Beneficial Owners to 
receive any tax credits or other 
benefits which may be available 
now or in the future relating to 
dividend payments or other 
distributions on the Shares or 
Deposited Securities.  In the 
event that the Depositary 
determines that any distribution 
in property (including Shares 
and rights to subscribe 
therefor) is subject to any tax 
or other governmental charge 
which the Depositary is 
obligated to withhold, the 
Depositary may by public or 
private sale dispose of all or a 
portion of such property 
(including Shares and rights to 
subscribe therefor) in such 
amounts and in such manner as 
the Depositary deems necessary 
and practicable to pay any such 
taxes or charges, and the 
Depositary shall distribute the 
net proceeds of any such sale 
after deduction of such taxes or 
charges to the Owners of 
Receipts entitled thereto.
      13.	R
IGHTS.
            In the event that the 
Company shall offer or cause to 
be offered to the holders of any 
Deposited Securities any rights 
to subscribe for additional 
Shares or any rights of any 
other nature, the Depositary, 
after consultation with the 
Company, shall have discretion 
as to the procedure to be 
followed in making such rights 
available to any Owners entitled 
thereto or in disposing of such 
rights on behalf of any Owners 
entitled thereto and making the 
net proceeds available to such 
Owners or, if by the terms of 
such rights offering or for any 
other reason, the Depositary may 
not either make such rights 
available to any Owners or 
dispose of such rights and make 
the net proceeds available to 
such Owners, then the Depositary 
shall allow the rights to lapse.  
If at the time of the offering 
of any rights the Depositary 
determines in its discretion 
(after consultation with the 
Company where practicable) that 
it is lawful and feasible to 
make such rights available to 
all or certain Owners but not to 
other Owners, the Depositary may 
distribute to any Owner to whom 
it determines the distribution 
to be lawful and feasible, in 
proportion to the number of 
American Depositary Shares held 
by such Owner, warrants or other 
instruments therefor in such 
form as it deems appropriate.
            In circumstances in 
which rights would otherwise not 
be distributed, if an Owner of 
Receipts requests the 
distribution of warrants or 
other instruments in order to 
exercise the rights allocable to 
the American Depositary Shares 
of such Owner under the Deposit 
Agreement, the Depositary will 
make such rights available to 
such Owner upon written notice 
from the Company to the 
Depositary that (a) the Company 
has elected in its sole 
discretion to permit such rights 
to be exercised and (b) such 
Owner has executed such 
documents as the Company has 
determined in its sole 
discretion are reasonably 
required under applicable law.
            If the Depositary has 
distributed warrants or other 
instruments for rights to all or 
certain Owners, then upon 
instruction from such an Owner 
pursuant to such warrants or 
other instruments to the 
Depositary to exercise such 
rights, upon payment by such 
Owner to the Depositary for the 
account of such Owner of an 
amount equal to the purchase 
price of the Shares or the 
acquisition price of any other 
rights to be received upon the 
exercise of the rights, and upon 
payment of the fees and expenses 
of the Depositary and any other 
charges as set forth in such 
warrants or other instruments, 
the Depositary shall, on behalf 
of such Owner, exercise the 
rights and purchase the Shares 
or other rights, and the Company 
shall cause the Shares or rights 
so purchased to be delivered to 
the Depositary on behalf of such 
Owner.  As agent for such Owner, 
the Depositary will cause the 
Shares or rights so purchased to 
be deposited pursuant to 
Section 2.02 of the Deposit 
Agreement, and shall, pursuant 
to Section 2.03 of the Deposit 
Agreement, execute and deliver 
Receipts to such Owner.  In the 
case of a distribution pursuant 
to the second paragraph of this 
Article 13, such Receipts shall 
be legended in accordance with 
applicable U.S. laws, and shall 
be subject to the appropriate 
restrictions on sale, deposit, 
cancellation, and transfer under 
such laws.
            If the Depositary 
determines in its discretion 
that it is not lawful and 
feasible to make such rights 
available to all or certain 
Owners, it may sell the rights, 
warrants or other instruments in 
proportion to the number of 
American Depositary Shares held 
by the Owners to whom it has 
determined it may not lawfully 
or feasibly make such rights 
available, and allocate the net 
proceeds of such sales (net of 
the fees and expenses of the 
Depositary as provided in 
Section 5.09 of the Deposit 
Agreement and all taxes and 
governmental charges payable in 
connection with such rights and 
subject to the terms and 
conditions of the Deposit 
Agreement) for the account of 
such Owners otherwise entitled 
to such rights, warrants or 
other instruments, upon an 
averaged or other practical 
basis without regard to any 
distinctions among such Owners 
because of exchange restrictions 
or the date of delivery of any 
Receipt or otherwise.
            The Depositary will 
not offer rights to Owners 
unless both the rights and the 
securities to which such rights 
relate are either exempt from 
registration under the 
Securities Act of 1933 with 
respect to a distribution to all 
Owners or are registered under 
the provisions of such Act; 
provided, that nothing in the 
Deposit Agreement shall create 
any obligation on the part of 
the Company to file a 
registration statement with 
respect to such rights or 
underlying securities or to 
endeavor to have such a 
registration statement declared 
effective.  If an Owner of 
Receipts requests the 
distribution of warrants or 
other instruments, 
notwithstanding that there has 
been no such registration under 
such Act, the Depositary shall 
not effect such distribution 
unless it has received an 
opinion from recognized counsel 
in the United States for the 
Company upon which the 
Depositary may rely that such 
distribution to such Owner is 
exempt from such registration, 
provided, however, the Company 
shall have no obligation to 
cause its counsel to issue such 
opinion at the request of such 
Owner.
            The Depositary shall 
not be responsible for any 
reasonable failure to determine 
that it may be lawful or 
feasible to make such rights 
available to Owners in general 
or any Owner in particular.
      14.	C
ONVERSION OF FOREIGN 
CURRENCY.
            Whenever the 
Depositary or the Custodian 
shall receive foreign currency, 
by way of dividends or other 
distributions or the net 
proceeds from the sale of 
securities, property or rights, 
and if at the time of the 
receipt thereof the foreign 
currency so received can in the 
judgment of the Depositary be 
converted on a reasonable basis 
into Dollars and the resulting 
Dollars transferred to the 
United States, the Depositary 
shall promptly convert or cause 
to be converted, by sale or in 
any other manner that it may 
determine, such foreign currency 
into Dollars, and such Dollars 
shall be promptly distributed to 
the Owners entitled thereto or, 
if the Depositary shall have 
distributed any warrants or 
other instruments which entitle 
the holders thereof to such 
Dollars, then to the holders of 
such warrants and/or instruments 
upon surrender thereof for 
cancellation.  Such distribution 
may be made upon an averaged or 
other practicable basis without 
regard to any distinctions among 
Owners on account of exchange 
restrictions, the date of 
delivery of any Receipt or 
otherwise and shall be net of 
any expenses of conversion into 
Dollars incurred by the 
Depositary as provided in 
Section 5.09 of the Deposit 
Agreement.  The Company shall 
not incur any liability to any 
Owner or Beneficial Owner as a 
result of any currency 
conversion transaction.
            If such conversion or 
distribution can be effected 
only with the approval or 
license of any government or 
agency thereof, the Depositary 
shall file such application for 
approval or license, if any, as 
it may deem desirable.
            If at any time the 
Depositary shall determine that 
in its judgment any foreign 
currency received by the 
Depositary or the Custodian is 
not convertible on a reasonable 
basis into Dollars transferable 
to the United States, or if any 
approval or license of any 
government or agency thereof 
which is required for such 
conversion is denied or in the 
opinion of the Depositary is not 
obtainable, or if any such 
approval or license is not 
obtained within a reasonable 
period as determined by the 
Depositary, the Depositary may 
distribute the foreign currency 
(or an appropriate document 
evidencing the right to receive 
such foreign currency) received 
by the Depositary to, or in its 
discretion may hold such foreign 
currency uninvested and without 
liability for interest thereon 
for the respective accounts of, 
the Owners entitled to receive 
the same.
            If any such 
conversion of foreign currency, 
in whole or in part, cannot be 
effected for distribution to 
some of the Owners entitled 
thereto, the Depositary may in 
its discretion make such 
conversion and distribution in 
Dollars to the extent 
permissible to the Owners 
entitled thereto and may 
distribute the balance of the 
foreign currency received by the 
Depositary to, or hold such 
balance uninvested and without 
liability for interest thereon 
for the respective accounts of, 
the Owners entitled thereto.
      15.	R
ECORD DATES.
            Whenever any cash 
dividend or other cash 
distribution shall become 
payable or any distribution 
other than cash shall be made, 
or whenever rights shall be 
issued with respect to the 
Deposited Securities, or 
whenever the Depositary shall 
receive notice of any meeting of 
holders of Shares or other 
Deposited Securities, or 
whenever for any reason the 
Depositary causes a change in 
the number of Shares that are 
represented by each American 
Depositary Share, or whenever 
the Depositary shall find it 
necessary or convenient, the 
Depositary shall fix a record 
date, which date shall (x) be 
the same date, to the extent 
practicable, as the record date 
for the Deposited Securities or 
(y) if different, after 
consultation with the Company, 
be fixed to be a date as soon 
thereafter as practicable 
(a) for the determination of the 
Owners of Receipts who shall be 
(i) entitled to receive such 
dividend, distribution or rights 
or the net proceeds of the sale 
thereof or (ii) entitled to give 
instructions for the exercise of 
voting rights at any such 
meeting, (b) on or after which 
each American Depositary Share 
will represent the changed 
number of Shares or (c) for any 
other matter, subject to the 
provisions of the Deposit 
Agreement.
      16.	V
OTING OF DEPOSITED SECURITIES.
            Upon receipt of 
notice of any meeting of holders 
of Shares or other Deposited 
Securities, if requested in 
writing by the Company, the 
Depositary shall, as soon as 
practicable thereafter, mail to 
the Owners of Receipts a notice, 
the form of which notice shall 
be in the sole discretion of the 
Depositary (after consultation 
with the Company if 
practicable), which shall 
contain (a) such information as 
is contained in such notice of 
meeting received by the 
Depositary from the Company, 
(b) a statement that the Owners 
of Receipts as of the close of 
business on a specified record 
date will be entitled, subject 
to any applicable provision of 
Cayman Islands law or Hong Kong 
law and of the Memorandum and 
Articles of Association of the 
Company, to instruct the 
Depositary as to the exercise of 
the voting rights, if any, 
pertaining to the amount of 
Shares or other Deposited 
Securities represented by their 
respective American Depositary 
Shares, and (c) a statement as 
to the manner in which such 
instructions may be given 
including an express indication 
that if no instruction is 
received, an instruction may be 
given on behalf of such Owner in 
accordance with the last 
sentence of this paragraph to 
the Depositary to give a 
discretionary proxy to a person 
designated by the Company.  Upon 
the written request of an Owner 
of a Receipt on such record 
date, received on or before the 
date established by the 
Depositary for such purpose, the 
Depositary shall endeavor 
insofar as practicable to vote 
or cause to be voted the amount 
of Shares or other Deposited 
Securities represented by such 
American Depositary Shares 
evidenced by such Receipt in 
accordance with the instructions 
set forth in such request.  The 
Depositary shall not vote or 
attempt to exercise the right to 
vote that attaches to the Shares 
or other Deposited Securities, 
other than in accordance with 
such instructions.
            If no instructions 
are received by the Depositary 
from any Owner with respect to 
any of the Deposited Securities 
represented by the American 
Depositary Shares evidenced by 
such Owners Receipts on or 
before the date established by 
the Depositary for such purpose, 
the Depositary shall deem such 
Owner to have instructed the 
Depositary to give a 
discretionary proxy to a person 
designated by the Company with 
respect to such Deposited 
Securities  and the Depositary 
shall give a discretionary proxy 
to a person designated by the 
Company to vote such Deposited 
Securities, provided that no 
such instruction shall be deemed 
given and no such discretionary 
proxy shall be given with 
respect to any matter as to 
which the Company notifies the 
Depositary (and the Company 
agrees to provide such 
notification as promptly as 
reasonably practicable in 
writing) and (x) the Company 
does not wish such proxy given, 
(y) in the opinion of the 
Company, substantial opposition 
exists or (z) such matter 
materially and adversely affects 
the rights or holders of Shares, 
provided further that the 
Company shall have no liability 
to any Owner or Beneficial Owner 
resulting from such 
notification.
      17.	C
HANGES AFFECTING DEPOSITED 
SECURITIES.
            In circumstances 
where the provisions of 
Section 4.03 of the Deposit 
Agreement do not apply, upon any 
change in nominal value, change 
in par value, splitup, 
consolidation, or any other 
reclassification of Deposited 
Securities, or upon any 
recapitalization, 
reorganization, merger or 
consolidation, or sale of assets 
affecting the Company or to 
which it is a party, any 
securities which shall be 
received by the Depositary or a 
Custodian in exchange for or in 
conversion of or in respect of 
Deposited Securities shall be 
treated as new Deposited 
Securities under the Deposit 
Agreement, and American 
Depositary Shares shall 
thenceforth represent, subject 
to the Deposit Agreement and all 
applicable laws in addition to 
the existing Deposited 
Securities, the right to receive 
the new Deposited Securities so 
received in exchange or 
conversion, unless additional 
Receipts are delivered pursuant 
to the following sentence.  In 
any such case the Depositary 
may, and shall at the Companys 
request, execute and deliver 
additional Receipts as in the 
case of a dividend in Shares, or 
call for the surrender of 
outstanding Receipts to be 
exchanged for new Receipts 
specifically describing such new 
Deposited Securities.
            Immediately upon the 
occurrence of any change, 
conversion, exchange or other 
event covered by Section 4.08 of 
the Deposit Agreement in respect 
of the Deposited Securities, the 
Depositary shall give notice 
thereof in writing to all 
Owners.
      18.	L
IABILITY OF THE COMPANY AND 
DEPOSITARY.
            Neither the 
Depositary nor the Company nor 
any of their respective 
directors, employees, agents or 
affiliates shall incur any 
liability to any Owner or 
Beneficial Owner of any Receipt, 
if by reason of any provision of 
any present or future law or 
regulation of the United States, 
the Peoples Republic of China or 
any other country, or of any 
other governmental or regulatory 
authority or stock exchange, or 
by reason of any provision, 
present or future, of the 
Memorandum and Articles of 
Association of the Company, or 
by reason of any provision of 
any securities issued or 
distributed by the Company, or 
any offering or distribution 
thereof, or by reason of any act 
of God or war or other 
circumstances beyond its 
control, the Depositary or the 
Company shall be prevented, 
delayed or forbidden from or be 
subject to any civil or criminal 
penalty on account of doing or 
performing any act or thing 
which by the terms of the 
Deposit Agreement or Deposited 
Securities it is provided shall 
be done or performed; nor shall 
the Depositary or the Company or 
any of their respective 
directors, employees, agents or 
affiliates incur any liability 
to any Owner or Beneficial Owner 
of a Receipt by reason of any 
nonperformance or delay, caused 
as aforesaid, in the performance 
of any act or thing which by the 
terms of the Deposit Agreement 
it is provided shall or may be 
done or performed, or by reason 
of any exercise of, or failure 
to exercise, any discretion 
provided for in the Deposit 
Agreement.  Where, by the terms 
of a distribution pursuant to 
Section 4.01, 4.02 or 4.03 of 
the Deposit Agreement, or an 
offering or distribution 
pursuant to Section 4.04 of the 
Deposit Agreement, such 
distribution or offering may not 
be made available to Owners of 
Receipts, and the Depositary may 
not dispose of such distribution 
or offering on behalf of such 
Owners and make the net proceeds 
available to such Owners, then 
the Depositary shall not make 
such distribution or offering, 
and shall allow any rights, if 
applicable, to lapse, in each 
such case without liability to 
the Company or the Depositary.  
Neither the Company nor the 
Depositary nor any of their 
officers, employees and agents 
assumes any obligation or shall 
be subject to any liability 
under the Deposit Agreement to 
Owners or Beneficial Owners of 
Receipts, except that the 
Company and the Depositary agree 
to perform their obligations 
specifically set forth in the 
Deposit Agreement without 
negligence or bad faith.  The 
Depositary shall not be subject 
to any liability with respect to 
the validity or worth of the 
Deposited Securities.  Neither 
the Depositary nor the Company 
shall be under any obligation to 
appear in, prosecute or defend 
any action, suit, or other 
proceeding in respect of any 
Deposited Securities or in 
respect of the Receipts, which 
in its opinion may involve it in 
expense or liability, unless 
indemnity satisfactory to it 
against all expense and 
liability shall be furnished as 
often as may be required, and 
the Custodian shall not be under 
any obligation whatsoever with 
respect to such proceedings, the 
responsibility of the Custodian 
being solely to the Depositary.  
Neither the Depositary nor the 
Company shall be liable for any 
action or nonaction by it in 
reliance upon the advice of or 
information from legal counsel, 
accountants, any person 
presenting Shares for deposit, 
any Owner or Beneficial Owner of 
a Receipt, or any other person 
believed by it in good faith to 
be competent to give such advice 
or information.  The Depositary 
shall not be responsible for any 
failure to carry out any 
instructions to vote any of the 
Deposited Securities, or for the 
manner in which any such vote is 
cast or the effect of any such 
vote, provided that any such 
action or nonaction is without 
negligence or bad faith and in 
accordance with the terms of the 
Deposit Agreement.  The 
Depositary shall not be liable 
for any acts or omissions made 
by a successor depositary 
whether in connection with a 
previous act or omission of the 
Depositary or in connection with 
a matter arising wholly after 
the removal or resignation of 
the Depositary, provided that in 
connection with the issue out of 
which such potential liability 
arises, the Depositary performed 
its obligations without 
negligence or bad faith and in 
accordance with the terms of the 
Deposit Agreement while it acted 
as Depositary.  The Company 
agrees to indemnify the 
Depositary, its directors, 
employees, agents and affiliates 
and any Custodian against, and 
hold each of them harmless from, 
any liability or expense 
(including, but not limited to, 
the expenses of counsel) which 
may arise out of acts performed 
or omitted, in accordance with 
the provisions of the Deposit 
Agreement and of the Receipts, 
as the same may be amended, 
modified, or supplemented from 
time to time, (i) by either the 
Depositary or a Custodian or 
their respective directors, 
employees, agents and 
affiliates, except for any 
liability or expense arising out 
of the negligence or bad faith 
of either of them, or (ii) by 
the Company or any of its 
directors, employees, agents and 
affiliates.  No disclaimer of 
liability under the Securities 
Act of 1933 is intended by any 
provision of the Deposit 
Agreement.
      19.	R
ESIGNATION AND REMOVAL OF THE 
DEPOSITARY; APPOINTMENT OF 
SUCCESSOR CUSTODIAN.
            The Depositary may at 
any time resign as Depositary 
under the Deposit Agreement by 
written notice of its election 
so to do delivered to the 
Company, such resignation to 
take effect upon the appointment 
of a successor depositary and 
its acceptance of such 
appointment as provided in the 
Deposit Agreement.  The 
Depositary may at any time be 
removed by the Company by 
written notice of such removal, 
effective upon the appointment 
of a successor depositary and 
its acceptance of such 
appointment as provided in the 
Deposit Agreement.  Whenever the 
Depositary in its discretion 
determines that it is in the 
best interest of the Owners of 
Receipts to do so, it may 
appoint a substitute or 
additional custodian or 
custodians.
      20.	A
MENDMENT.
            The form of the 
Receipts and any provisions of 
the Deposit Agreement may at any 
time and from time to time be 
amended by written agreement 
between the Company and the 
Depositary without the consent 
of Owners or Beneficial Owners 
of Receipts in any respect which 
they may deem necessary or 
desirable.  Any amendment which 
shall impose or increase any 
fees or charges (other than 
taxes and other governmental 
charges, registration fees and 
cable, telex or facsimile 
transmission costs, delivery 
costs or other such expenses), 
or which shall otherwise 
prejudice any substantial 
existing right of Owners of 
Receipts, shall, however, not 
become effective as to 
outstanding Receipts until the 
expiration of 30 days after 
notice of such amendment shall 
have been given to the Owners of 
outstanding Receipts.  Every 
Owner of a Receipt at the time 
any amendment so becomes 
effective shall be deemed, by 
continuing to hold such Receipt, 
to consent and agree to such 
amendment and to be bound by the 
Deposit Agreement as amended 
thereby.  In no event shall any 
amendment impair the right of 
the Owner of any Receipt to 
surrender such Receipt and 
receive therefor the Deposited 
Securities represented thereby 
except in order to comply with 
mandatory provisions of 
applicable law.
      21.	T
ERMINATION OF DEPOSIT 
AGREEMENT.
            The Depositary at any 
time at the direction of the 
Company, shall terminate the 
Deposit Agreement by mailing 
notice of such termination to 
the Owners of all Receipts then 
outstanding at least 90 days 
prior to the date fixed in such 
notice for such termination.  
The Depositary may likewise 
terminate the Deposit Agreement 
by mailing notice of such 
termination to the Company and 
the Owners of all Receipts then 
outstanding if at any time 90 
days shall have expired after 
the Depositary shall have 
delivered to the Company a 
written notice of its election 
to resign and a successor 
depositary shall not have been 
appointed and accepted its 
appointment as provided in the 
Deposit Agreement.  On and after 
the date of termination, the 
Owner of a Receipt will, upon 
(a) surrender of such Receipt at 
the Corporate Trust Office of 
the Depositary, (b) payment of 
the fee of the Depositary for 
the surrender of Receipts 
referred to in Section 2.05 of 
the Deposit Agreement, and (c) 
payment of any applicable taxes 
or governmental charges, be 
entitled to delivery, to him or 
upon his order, of the amount of 
Deposited Securities represented 
by the American Depositary 
Shares evidenced by such 
Receipt.  If any Receipts shall 
remain outstanding after the 
date of termination, the 
Depositary thereafter shall 
discontinue the registration of 
transfers of Receipts, shall 
suspend the distribution of 
dividends to the Owners thereof, 
and shall not give any further 
notices or perform any further 
acts under the Deposit 
Agreement, except that the 
Depositary shall continue to 
collect dividends and other 
distributions pertaining to 
Deposited Securities, shall sell 
rights and other property as 
provided in the Deposit 
Agreement, and shall continue to 
deliver Deposited Securities, 
together with any dividends or 
other distributions received 
with respect thereto and the net 
proceeds of the sale of any 
rights or other property, in 
exchange for Receipts 
surrendered to the Depositary 
(after deducting, in each case, 
the fee of the Depositary for 
the surrender of a Receipt, any 
expenses for the account of the 
Owner of such Receipt in 
accordance with the terms and 
conditions of the Deposit 
Agreement, and any applicable 
taxes or governmental charges).  
At any time after the expiration 
of one year from the date of 
termination, the Depositary may 
sell the Deposited Securities 
then held under the Deposit 
Agreement and may thereafter 
hold uninvested the net proceeds 
of any such sale, together with 
any other cash then held by it 
thereunder, unsegregated and 
without liability for interest, 
for the pro rata benefit of the 
Owners of Receipts which have 
not theretofore been 
surrendered, such Owners 
thereupon becoming general 
creditors of the Depositary with 
respect to such net proceeds.  
After making such sale, the 
Depositary shall be discharged 
from all obligations under the 
Deposit Agreement, except to 
account for such net proceeds 
and other cash (after deducting, 
in each case, the fee of the 
Depositary for the surrender of 
a Receipt, any expenses for the 
account of the Owner of such 
Receipt in accordance with the 
terms and conditions of the 
Deposit Agreement, and any 
applicable taxes or governmental 
charges) and except for its 
obligations to the Company under 
Section 5.08 of the Deposit 
Agreement. Upon the termination 
of the Deposit Agreement, the 
Company shall be discharged from 
all obligations under the 
Deposit Agreement except for its 
obligations to the Depositary 
with respect to indemnification, 
charges, and expenses.
      22.	D
ISCLOSURE OF BENEFICIAL 
OWNERSHIP.
            To the extent that 
provisions of or governing any 
Deposited Securities may require 
the disclosure of beneficial or 
other ownership of Deposited 
Securities, other Shares and 
other securities to the Company 
and may provide for blocking 
transfer and voting or other 
rights to enforce such 
disclosure or limit such 
ownership, the Depositary shall 
use its reasonable efforts to 
comply with Company instructions 
as to Receipts in respect of any 
such enforcement or limitation 
and Owners and Beneficial Owners 
shall comply with all such 
disclosure requirements and 
ownership limitations and shall 
cooperate with the Depositarys 
compliance with such Company 
instruction
      23.	O
WNERSHIP RESTRICTIONS.
            The Company may 
restrict, in such manner as it 
deems appropriate, transfers of 
Receipts where such transfer may 
result in the total number of 
Shares represented by the 
American Depositary Shares 
evidenced by the Receipts 
beneficially owned by a single 
Owner or Beneficial Owner 
exceeding the limits under any 
applicable law or the Companys 
Memorandum and Articles of 
Association.  The Company may, 
in such manner as it deems 
appropriate, instruct the 
Depositary to take action with 
respect to the ownership 
interest of any Owner or 
Beneficial Owner in excess of 
the limitation set forth in the 
preceding sentence, including 
but not limited to a mandatory 
sale or disposition on behalf of 
any Owner or Beneficial Owner in 
the Receipt of the Shares 
represented by the American 
Depositary Shares evidenced by a 
Receipt or Receipts held by such 
Owner or Beneficial Owner in 
excess of such limitations, if 
and to the extent such 
disposition is permitted by 
applicable law.
      24.	C
OMPLIANCE WITH U.S. SECURITIES 
LAWS.
            Notwithstanding 
anything in the Deposit 
Agreement or this Receipt to the 
contrary, the Company and the 
Depositary each agrees that it 
will not exercise any rights it 
has under the Deposit Agreement 
to prevent the withdrawal or 
delivery of Deposited Securities 
in a manner which would violate 
the U.S. securities laws, 
including, but not limited to, 
Section I.A.(1) of the General 
Instructions to the Form F6 
Registration Statement, as 
amended from time to time, under 
the Securities Act of 1933.



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