第二次修訂截至2024年10月 （以下簡稱“修改”），根據2019年7月16日存入資金協議，於2024年3月15日前修訂的（如前所述修訂的，以下簡稱“存入資金協議”），鬥魚國際控股有限公司，一家根據開曼群島法律設立的有限責任豁免公司（以下簡稱“公司”），摩根大通銀行股份有限公司，作爲存託人（以下簡稱“「託管人」是指對於任何系列證券發行的全部或部分採用一種或多種全局證券的證券，由公司指定爲該系列的託管人的人，該託管人應爲登記於交易所法案下的清算機構；如在任何時候有不止一個這樣的人，「託管人」用於該系列證券則應指該系列證券的託管人。"），以及所有時常持有和受益所有人的美國存託憑證（"美國存託憑證（ADRs)發行的存託憑證。

鑑於發行人已正式授權發行高達3.75億美元的5.400％到期日爲2027年的發行人無條件優先票據（以下簡稱「票據」），由保證人提供超額和無條件的擔保； 而且發行人和保證人已正式授權簽署並交付本協議（以下簡稱爲「本協議」），包括擔保（如本文件中所定義）。:

鑑於公司和存入資金代理執行了存入協議中規定的目的；並且

鑑於根據ADR的第(16)段，其形式包含在存入資金協議的附件A中，公司和存託人希望修改存入資金協議和ADR的條款。

現在，因此， 鑑於充分的對價，特此確認收悉，公司及託管人特此同意修改存款協議及美國存託憑證如下：

第一條

定義

第1.01節。定義除非在本修正案中另有定義，所有大寫字母表示的術語，但本協議未另有定義，則應按照《存入資金協議》中給予的含義解釋。

第二條

修訂存入資金協議和ADR

第2.01節。存入資金協議中所有對"存入資金協議"一詞的引用，自本日期起，應指向（如上所定義的）本存入資金協議經本修訂後的存入資金協議。

第2.02節 存入資金協議第1部分被修改，新增定義如下，作爲第1部分(n)，其後的定義重新編號爲第1部分(o)和1(p)。

(n)"終止日期"表示根據ADR表格第（17）段終止的存入資金協議的日期終止), 爲避免疑義，應當是(i) 根據其中預見的終止通知而確定的終止日期；或者(ii) 存款人在不需要預先終止通知的情況下所確定的日期。

第2.03節存入資金協議的第3(a)和(b)條款被以下內容取代，存入資金協議當前的第3(c)條款被重新編爲該協議的第3(b)條款：

(a)要求在存入資金中，存放人或保管人應要求以令存入人滿意的形式發出書面訂單，指示存放人將直接登記的ADR或ADR發給在該訂單中指定的人或人員，或根據其書面訂單，代表存放的股份有關的ADS數量的ADR（“交割指令。提供存入的股份應在存入時以摩根大通銀行有限公司作爲代理人登記，以便ADR持有人受益，或以存管人指示的其他名稱登記。存入的證券應由保管人代持，供代存放人的ADR持有人（在法律允許的情況下）按存放人決定的地點或地點和方式持有和授出。儘管本文中可能包含其他內容，在ADR和/或任何未償還的ADS的形式中，存放人、保管人及其各自的提名人僅意圖成爲，並且在本存款協議期間始終是代表ADR持有人受益的代表性持有人。存放人及其保管人及其各自的提名人代表ADR持有人以任何情況下均不得表明對代表持有人持有的存入證券的任何有利權益。

第2.04節 存款協議第4條的第一句經修改如下:

有關任何此類股份存入後，託管人應以信函形式通過頭等航空郵資預付郵寄方式或通過SWIFt、傳真傳遞或其他經託管方和存管方同意的通訊方式，通知存管方有關此類存款及任何相關交付指示中的信息。

第2.05節 第5部分的內容 存入資金協議已經修改如下:

在保存人確定的範圍內 可自行決定根據替代性糾紛解決辦法形式第 (10) 款進行的任何分配 (存放證券的分配) 會 不被適用的法律、規則或法規所允許，或者對於任何或所有持有人，即存託人，在其他方面不切實際 可自行決定進行其認爲切實可行的分配，包括分配部分或全部現金（如定義） 在替代性爭議解決辦法表格的第 (10) 段中，外幣、證券或其他財產（或證明權利的適當文件） 接收部分或全部此類現金、外幣、證券或其他財產）和/或存託人可能保留和持有部分或 與適用持有人ADR相關的所有現金、外幣、證券或其他財產，如存託證券 （對其利息或其投資不承擔任何責任）。

在其自行決定的範圍內，如存託銀行認定根據適用法律、規則或法規可能不被允許，或者進行外幣兌換成美元和/或向部分或全部持有人分發美元可能不切實可行，存託銀行可以自行酌情將收到的部分或全部外幣分發給符合條件的持有人，或保留和持有未投資的該等外幣，並不承擔利息責任，分別計入應收同等外幣的持有人帳戶。

在符合本第5款或第(10)段規定的情況下，存託人可以保留或持有任何現金、外幣、證券或其它財產。存款證券分配與此類持有有關的所有費用、收費和費用將從這些現金、外幣、證券或其它財產或其出售所得的淨額中支付，從而減少所持有的金額。保管人的費用。從這些現金、外幣、證券或其它財產或其出售所得的淨額中支付，從而減少這些所持有的金額。

第2.06節。 第6節存入資金協議的內容被修改爲如下：

與任何ADR的返還有關，從中所證明的ADS所代表的存託證券的取回，託管人可能要求對該ADR進行正確背書（或者對其進行適當背書的轉讓工具）以及持有人的書面訂單，指示託管人引起該ADR所證明的ADS代表的存託證券的取回和交付給書面訂單中指定的任何人（一個"，提取指令）託管人向保管人發出遞交存託證券的指示，應通過信函、預付頭等航空郵費的郵寄方式，或通過SWIFt、傳真傳輸或經保管人和託管人協商同意的任何其他通信方式。 存託證券的交付可以通過交付證書（如法律要求，應正確背書或附有適當執行的轉讓工具，或者如果此類證書可以註冊，則應以該持有人的姓名註冊，或者按照任何取回訂單中由該持有人指示的方式註冊），或者通過託管人認爲可行的其他方式進行，包括但不限於，將其記錄所有權轉移給取回訂單中指定的帳戶，該帳戶由公司或作爲存託證券註冊資格的註冊處（如一家銀行）或其他受信任的中介機構維護。

公司同意與存入資金協作，並採取所有行動，並指示和要求任何託管人和/或存放證券的過戶代理採取所有這樣的行動，如存入資金所要求，或是其它方面所必要或要求的，以實現存放證券的撤回、交付和/或轉讓，包括但不限於，提供一個承諾書，如《b展示》所載或基本形式。公司在本第6條規定的責任應當在存入協議終止之後繼續存在，直到存入資金髮行的所有ADS被取消。

第2.07節。 存款協議第9(b)部分的第一句話已經被修改爲如下內容:

任何託管人可以按照當前生效的任何託管協議所允許的方式辭去其在此項下的職責。

第2.08節。 《存入資金協議》第15條經修改，在其第（d）小節之前立即插入以下內容，並將先前的（d）小節更名爲第（e）小節：

(d)       通知。 根據本協議尋求賠償的任何人（和”受賠的人「) 應通知其所尋找的人 賠償（」賠償人“) 儘快合理地啓動任何應予賠償的訴訟或索賠 在該受補償人得知此種啓動之後才可行（前提是未發出此類通知的人員應 不影響該受補償人根據本第 15 條獲得賠償的權利，但賠償權除外，且僅在有限的範圍內 由於這種不履行而喪失實質性權利或抗辯權，個人因這種失誤而受到實質性損害； 而且還規定，未通知賠償方不應免除賠償方的任何責任 可能必須由受賠方支付（本第 15 節除外）。任何賠償人均不承擔任何和解責任 任何未經其書面同意而進行的訴訟（不得無理地拒絕、附帶條件或延遲同意），但如果 經該賠償人的書面同意或具有管轄權的法院作出的最終和不可上訴的判決後和解 在任何此類訴訟中，賠償人同意對每名受賠償人進行賠償，使其免受任何損害 因此類和解或判決而產生的所有損失、索賠、損害賠償、責任以及合理的法律和其他自付費用。 未經任何受賠人事先書面同意，任何賠償人不得就任何待處理或威脅的和解達成任何和解 該受補償人本可根據本協議尋求賠償的程序，除非此類和解 (i) 包括 以令該受賠人合理滿意的形式和實質內容無條件釋放該受賠償人 責任或索賠是此類訴訟的標的，並且 (ii) 不包括任何關於或承認 任何受賠人或其代表的過失、罪責、錯誤行爲或未能採取行動。

第2.09節。 存入資金協議第16(b)部分已修訂如下：

(b)通知給存款人或公司向託管方或公司發出的通知應在第一次收到的時候視爲已發出，以(i)或(ii)方式進行電子傳輸，或通過收到該地址或電子郵件地址，或通過DepositaryReceipt 解決方案及金融機構解決方案（DR_Global_CSM@jpmorgan.com），或通過在下文的通知中規定的該等材料中提供的該等地址或電子郵件地址。對持有人的通知義務。通知應按下文第9條規定的方式發送。

通過電子消息傳遞送達通知應視爲在發件人（如發件人記錄所示）啓動傳輸時生效，即使預期接收方在稍後時間獲取消息，未能獲取此類消息，或因未能保持指定的電子郵件地址，未能指定替代電子郵件地址或由於任何其他原因而未能收到該通知。

第2.10節。 存入資金協議的第21款已經修訂，新增了將「仲裁」概念納入「訴訟」的範疇，並將「裁決」一詞解讀爲包括「仲裁裁決」。

第2.11節存款協議第23節的第一句被修改，插入以下內容以結束。

，包括但不限於，任何訴訟、訴訟或程序 根據美國聯邦證券法。

第2.12節。修改ADR表格的第(1)段落的第(c)款，以及所有未償還的ADR，在結尾處添加以下內容：

如果任何陳述或保證在任何方面不正確，公司和託管人可以在違約持有人（包括但不限於任何代表第三方行事的持有人）和/或受益人承擔費用的情況下，採取一切必要行動來糾正此類虛假陳述的後果。

第2.13節。 ADR表格的第(4)款的(c)款被修改，在ADR表格的所有未解決問題，包括「或者存託人認爲根據適用的法律、規則和法規必要時，以及建議立即在「存託協議」之後加入。」

第2.14節。按照ADR表格的第(5)段，以及所有未償還的ADR，將替換爲以下內容：

如果任何稅收或其他政府收費（包括任何罰款和/或利息）應由或代表託管人或託管人就此ADR支付，此ADR所代表的已存入證券或有關分發，包括但不限於中國國家稅務總局頒佈的《財政法》[2009]第82號或任何其他文件、法令、訂單或裁決，根據適用及不時修訂的，此類稅收或其他政府收費應由持有人支付給託管人，並通過持有或擁有此ADR或此處所證明的任何ADSs，持有人及所有本ADR和本ADSs的受益人，以及所有之前的持有人和受益人，共同和各自，同意對託管人及其代理人就此類稅收或其他政府收費進行賠償、辯護和保全。儘管託管人有權向ADSs的現任和前任受益人追討款項，但持有人（和之前的持有人）承認並同意，託管人沒有義務向任何當前或以前的ADSs受益人追討根據本第（5）段所欠款項。

第2.15節表ADR的第7段及所有未結算的ADR均已被修改如下：

(7) 保管人的費用。.

(a) 託管人的權利其他義務、費用、收費和開支存儲證券上的分紅派息根據公司宣佈的股票股利或股票分拆，以及因合併、證券交換或任何其他影響ADS或已存證券的交易或事件而發佈的股份，以及每位交還ADS以取回已存證券的人員或因任何其他原因而取消或減少ADS的，每100股ADS（或其部分）發行、交付、減少、取消或交還，或者作出或提供股份分配或選擇性分配（視情況而定），收取高達5.00美元的費用。存託人可能會在進行存入前對收到的股份、權利和其他分配的證券和財產進行足額出售（通過公開或私人出售），以支付此項費用。

(b) 存託人需承擔的額外費用、收費和支出 。持有人、受益所有人或任何存入或取出股份的任何一方，或任何交出ADS的一方，或向其發行ADS的任何一方（包括但不限於公司宣佈的股息或股票分拆或有關ADS或存入證券的股票交換，或根據第（10）段發放ADS）也將產生以下額外費用、收費和支出。已存入證券的分配))，取決於適用情況：

(i) 持有每個美國存託憑證的現金分配或提供的任何選擇性現金/股票股利，根據存入資金協議，每個ADS最高收取0.05美元的費用。

(ii) 每個持有的ADS最多收取0.05美元的費用，用於直接或間接分配證券（不包括ADS或根據此處第（10）段購買額外ADS的權利）或任何此類證券的公開或私人出售的淨現金收益，無論該等分配和/或出售是否由託管人、公司和/或任何第三方代表、實施或接受（在每種情況下），這筆費用可能會根據託管人設定的股東記錄日期向持有人收取。

(iii)每年每個日曆年度(或其部分)美國存託憑證每股最高收取0.05美元的綜合費用，用於存託機構在管理ADR時提供的服務(該費用可能在每個日曆年度的各個時間段定期收取，並將針對每個日曆年度存託機構設定的股東記錄日期或記錄日期進行評估，並由存託機構唯一自主地通過向這些股東開具賬單或通過從一個或多個現金分紅或其他現金分配中扣除該費用收取)

(iv) 分配給託管人及/或其代理人（包括但不限於保管人以及代表持有人履行外匯管理規定或任何與外匯投資相關的法律或法規相關的收費和費用）發生的相關於股份或其他存入證券的服務、證券的銷售（包括但不限於存入證券）、存入證券交付或者與託管人或其保管人遵守適用法律、規則或法規的相關情況的費用和支出。這些費用和支出可能根據託管人設定的股東權益登記日按比例對持有人徵收，並由託管人自行決定的方式收取，包括向這些持有人開具賬單或通過在一個或多個現金分紅或其他現金分配中扣除此類費用或支出。

(c) 其他責任、費用、收費和支出公司將支付存託人及存託人（除託管人外）的任何代理人根據公司與存託人不時達成的協議支付的所有其他費用、收費和支出，但不包括：

股票轉讓稅或其他稅費以及其他由持有人或存入股份的人支付的政府收費;

(ii) 每筆取消請求收取的交易費用（包括通過SWIFt、傳真傳輸或其他通信方式提出的任何取消請求所披露的費用，詳見"披露"頁面（或後續頁面） www.adr.com（由存管人不時更新，"ADR.com）以及任何適用的交付費用（由這些人員或持有人支付）;

(iii) 轉讓或登記支出，涉及在存入資金或提取存入資金時，關於在任何適用登記簿上登記或轉移存入證券的費用（該費用由存入股份的人或提取存入證券的持有人支付）。

(d) 匯率期貨相關事宜。 爲了方便管理各種存託憑證交易，包括分紅支付或其他現金分配 及其他公司行動，存託人可能與摩根大通銀行NA內的匯率期貨交易部門（"銀行"） 及/或其關聯公司，以便進行現貨外匯交易，將外幣兌換成美元（"外匯期貨交易"）。對於某些貨幣，匯率期貨交易是由銀行或其關聯公司以主體身份進行的。對於其他貨幣，匯率期貨交易直接路由到非關聯的本地託管人（或其他第三方本地流動性提供商）進行管理，並且銀行或其任何關聯公司均不參與此類匯率期貨交易。

應用於外匯期貨交易的匯率將是（i）已公佈的基準匯率，或（ii）由第三方當地流動性提供商確定的匯率，每種情況下可能加減點差。託管人將披露應用於該貨幣的外匯匯率和點差，如有的話，可於ADR.com的"披露"頁面（或後續頁面）上。該適用的外匯匯率和點差可能（但託管人、銀行或任何關聯公司均沒有義務確保該匯率不會）與與其他客戶進行的類似交易所涉及的匯率和點差，或銀行或任何關聯公司在FX交易當日中涉及的外匯交易的匯率和點差區間不同。此外，外匯期貨交易的執行時間根據當地市場動態而異，可能包括監管要求、市場營業時間和外匯市場的流動性等因素。此外，銀行及其關聯公司可據其認爲適當的方式管理市場持倉相關風險，而無需考慮此類活動對公司、託管人、持有人或受益所有人的影響。所應用的點差不反映銀行及其關聯公司可能因風險管理或其他套期保值相關活動而獲得或招致的任何收益或損失。

儘管前述情況如此，如果公司向託管人提供美元，則銀行或其任何附屬機構不會按照此處所述執行外匯交易。在這種情況下，託管人將分發從公司收到的美元。

有關適用的匯率期貨、適用的點差以及外匯期貨交易的執行細節將由ADR.com上的存管機構提供。公司、持有人和受益所有人各自承認並同意，ADR.com上不時披露的適用於外匯期貨交易的條款將適用於根據存款協議執行的任何外匯期貨交易。

(e) 作爲上述規定的一部分，存款人有權收取和支付相關費用、收費和開支，該權利自存款協議終止後仍然有效。在存款人辭職或被罷免時，該權利將延續至在辭職或被罷免生效前發生的費用、收費和開支。

(f) 潛在託管支付的披露存託人預計根據存託憑證計劃的相關條款和條件，報銷公司因存託憑證計劃的建立和維護而發生的某些費用，具體金額和條件由公司和存託人雙方商定。存託人可以按照公司和存託人雙方商定的條款和條件，向公司提供一定金額或存託憑證計劃相關費用的部分金額。

(g) 存款人可能同意減少或免除本文件和存款協議中規定的某些費用、收費和開支，包括但不限於本段(7)中描述的那些費用，這些費用通常會對公司、某些持有人和實益所有人以及持有公司股份的持有人和受益所有人發行的ADS收取，或者由公司或者某些持有人和實益所有人跟據指示持有的ADS上收取。

第2.16節。 ADR表格的第(10)段，以及所有未解決的ADR，被更名爲“存入證券的分配; 銷售”，並做出以下修訂:

(a)          以下兩段落將立即插入該款下述的小款(a)之後:

在存入的任何證券由於其發行日期或其他原因，不得或不會收到現金股息、分配或銷售淨收益的全部金額時，託管人將對相應存入的證券持有人分配的金額進行適當調整。在公司或託管人因稅收而需要並確實從與任何存入證券有關的現金股息、分配或銷售淨收益中扣除金額時，相應的發行與此等存入證券有關的ADSs的分配金額將相應減少。

在其酌情裁定的情況下，如果根據適用法律、規則或法規，或者將外幣兌換成美元並/或分配給所有有權獲得美元的持有人可能被禁止，或者實際上不可行，託管人可以酌情分配託管人收到的部分或全部外幣，分配給或保留並持有未投資的外幣，並對此不承擔利息責任，以供有權接收相同外幣的持有人的各自帳戶。

(b)         該段落的(b)、(c)和(d)的內容在詞語「銷售」之前立即插入「公共或私人」一詞 。

(c)          以下的分項/段落將立即插入其第(d)款之後：

在其自由裁量的情況下，託管人確定根據本款（10）的任何分配均不得根據適用法律、規則或法規，或者對於任何或所有持有人而言不切實可行時（已存入證券的分配託管人可以自行決定進行分配，將任何現金、外幣、證券或其他資產（或適當文件以證明有權收取上述任何現金、外幣、證券或其他資產）的部分或全部分配給適用的持有人的ADR，並/或保留並持有其中部分或全部現金、外幣、證券或其他資產作爲有關持有人的ADR的存入證券（但不承擔利息責任或投資責任）。

(f) 在本款（10）規定範圍內，託管人保留並持有任何現金、外幣、證券或其他財產（如允許的）。存款證券分配對於與上述持有有關的所有費用、收費和開支（包括但不限於本ADR形式第（7）段規定的費用）應從該等現金、外幣、證券或其他財產，或其出售的淨收益中支付，從而減少本協議項下所持有的金額。保管人的費用。）

(g) 銷售在所有情況下，存款協議或ADR表格提到"出售"（或類似含義的詞）的情況下，存託人可選擇但沒有義務進行任何此類出售，除非將要出售的證券已在證券交易所上市並公開交易，或者該物業有公開市場進行出售。在證券未在證券交易所上市並公開交易，或者對公司分配的物業沒有公開市場的情況下：

此外，如果託管人試圖出售股份、其他證券或財產，這些證券和/或財產可能會以主力賣出或單筆交易方式出售。

以及

(d) 最後一段第（10）段的第一句被修改，將「證券」一詞後立即加上「及/或財產」。

第2.17節。 ADR的第14項和所有未償還的ADR已被修改爲如下所述：

(14) 無罪釋放.

(a) 不可抗力、責任限制及義務。 託管人、公司及其各自的董事、官員、僱員、代理人和關聯公司及其中每個人應：

(b) 託管人的破產、責任等， 證券存管、清算機構或結算系統。保存人不承擔任何責任，也不承擔任何責任 儘管任何不是摩根大通銀行分行或附屬機構的託管人破產，但其破產與之有關或由此引起 存款協議（包括ADR）中包含的任何相反規定，並受中規定的進一步限制的約束 本款第 (14) 款 (q) 項，保存人對與之有關或由此產生的概不負責，也不承擔任何責任 來自託管人的任何作爲或不作爲，除非任何持有人直接承擔責任 由於託管人 (i) 在向保管人提供保管服務時犯下欺詐或故意不當行爲，或 (ii) 在根據標準向保管人提供保管服務時未採取合理的謹慎措施 在託管人所在的司法管轄區內占主導地位。

託管人不對任何證券託管機構、清算機構或結算系統的行爲或遺漏、或其破產負責。

(c) 存託人、其代理人和公司 可以依賴並在採取任何他們認爲是真實並已由適當方或各方簽署、展示或提供的書面通知、要求、指示或文件時得到保護。

(d) 存託人無義務告知持有人或受益所有人關於開曼群島、香港、中國、美國或其他國家或司法管轄區的法律、規則或法規的要求或任何變更，或任何政府或監管機構或任何證券交易所或市場或自動報價系統的情況。

(e) 存託人及其代理將不對未能執行任何投票指示承擔責任，也不對根據此處第12(b)段規定給出或被視爲給出的任何投票指示的方式承擔責任，包括指示向公司指定的人員給予自由裁量權代理的方式，對任何投票方式負責，包括但不限於由存託人被指示根據此處第12段授予自由裁量權代理或被視爲已根據第12(b)段被指示授予自由裁量權代理的人投出的任何投票，或對任何此類投票的影響負責。

(f) 存入資金應盡力進行證券或其他財產的銷售，以及根據存託協議或ADR表格中提及或擬定的每種貨幣、證券或其他財產的兌換，均應根據存託人在適用於此類銷售或兌換的情況下的正常慣例和程序辦理，但在無論何種情況下，存入資金均不承擔責任（在沒有存入資金自身故意疏忽或嚴重疏忽或其代理人、董事、主管或僱員的情況下），涉及任何此類銷售或兌換的條款，包括此類銷售或兌換的價格，或者如果該等銷售或兌換不可行，或者存入資金認爲不可行、不可置信或無法確定。具體而言，存入資金不會對與任何公開或私人證券銷售有關的收到的價格（包括但不限於以名義價格出售的銷售），銷售時間或任何行動延誤或不作爲負責，也不會對於在任何此類銷售或擬定銷售中被保留方的錯誤、行動延誤、默認或疏忽承擔責任。

(g) 存託人對於公司或任何其他方，包括任何股份登記處、過戶代理或由公司、存託人或任何其他方指定的其他代理人未能或拒絕處理任何現金、股票、其他證券或其他財產的轉讓、交付或分配，包括但不限於在存託協議終止時，以及未能遵守適用於它的存託協議的任何規定，不承擔任何責任。

(h) 存託人可以依賴公司或其法律顧問的指示，就任何貨幣兌換、轉移或分配所需的任何批准或許可。

存託人及其代理商可能擁有並交易公司及其關聯公司的任何類別證券以及美國存託憑證（ADR）。

(j) 儘管存款協議或ADR中另有規定，託管人及其代理人可根據任何法定權威的要求或請求全面回應與存款協議、任何持有人、ADR或其他相關事項有關的任何信息，無論是由其或代其維護，包括但不限於法律、規則、法規、行政或司法程序、銀行、證券或其他監管機構要求或規定的信息。

(k) 存放人、保管人、公司或其各自的董事、管理人員、員工、代理人或關聯公司均不對任何持有人或受益所有人未能獲得對非美國稅款支付的抵免或退款所導致的有關持有人或受益所有人的所得稅責任承擔責任。

（一）存託人無義務向持有人和受益所有人提供關於公司稅務狀況的任何信息。存託人、託管人或公司以及其各自的董事、高管、僱員、代理人和關聯公司均不因持有人或受益所有人因擁有或處置ADRs或ADS而可能產生的任何稅款或稅務後果而承擔任何責任。

(m) 存託人對由公司或代表公司向持有人分發的任何信息的內容或其任何翻譯不承擔任何責任，不對受託證券的收購所涉及的任何投資風險承擔責任，不對存託證券的有效性或價值承擔責任，不對任何第三方的信用worthiness表負責，不對根據存託協議的條款任何權利的終止作出任何解釋，不對公司發出的任何通知的失敗或及時性負責。

儘管存款協議中或其中任何規定，託管人和保管人可使用第三方遞送服務和信息提供商，涉及事項包括但不限於定價、代理投票、公司行動、集體訴訟和其他服務，並且使用地方代理提供諸如但不限於參加發行人股東會的服務。儘管託管人和保管人將在選擇和留住這些第三方提供商和地方代理方面謹慎，但他們不會對他們在提供相關信息或服務時所造成的任何錯誤或遺漏負責。

(o) 存託人不對後繼存託人的任何行爲或遺漏負責，無論是與存託人先前的行爲或遺漏有關，還是與存託人被撤職或辭職後完全涉及的任何事項有關。

（p）公司已同意在特定情況下對託管人及其代理人進行賠償，託管人也同意在特定情況下對公司進行賠償。

(q)儘管存款協議或本ADR的任何其他規定相反，託管人、公司或其各自的代理人均不對持有人或受益所有人承擔任何間接、特殊、懲罰性或後果性損害責任（包括但不限於法律費用和支出）或利潤損失責任，不論是否可預見且不論提出此類索賠的方式。

(r) 存款協議或本ADR的任何規定均不得構成對持有人或受益所有人根據1933年證券法或1934年證券交易法可能享有的任何權利的放棄或限制，如適用。

第2.18節。 以下內容作爲ADR表格第(15)段的子款(d)插入，並涵蓋所有未清償的ADR：

(c) 如果存管人提供辭職通知（根據上述第(a)款的規定）或者公司提供存管人被解除職務的通知（根據上述第(b)款的規定）後，且在首次提供辭職或解除通知後的第六十（60）天之前未指定繼任存管人，則存管人可以按照第（17）段的規定終止存款協議和美國存託憑證。終止此ADR和第(17)段的規定將隨後規範託管人在託管協議下的義務和ADR的形式。

第2.19節。 ADR 表格第（16）段第一句及所有未解決的 ADR 將被修改如下：

以第 (2) 款最後一句爲準 (撤回 存款證券），公司和存託人可以修改ADR和存款協議，前提是任何修正案 根據每份ADS徵收或增加任何費用、費用或支出（股票轉讓或其他稅收和其他政府稅收除外） 費用、轉賬或註冊費、每次取消請求的交易費（包括通過以下方式提出的任何取消請求） 第 (7) (c) (ii) 段所述的 SWIFT、傳真傳輸或任何其他通信方法（存託人的費用) 的 替代性爭議解決的形式、適用的交付費用或其他此類費用、收費或開支），或以其他方式影響任何實質性費用 持有人或受益所有人的現有權利應在該修訂通知發出三十 (30) 天后生效 給予持有人。

第2.20節。 ADR表格的第17段，以及所有未兌現的ADR，都經修改如下：

(17) 終止.

(a) 存託人和公司的終止.

(b) 託管人的責任.

取消此ADR及所有其他未解決的ADR。

(B) 請求DTC向託管機構提供持有ADS的信息，並在收到後修改ADR登記簿以反映DTC提供的信息。

(C)指示其託管人將所有存款證券交付給公司、子公司或附屬公司，公司註冊辦公室提供者(該子公司或附屬公司或註冊辦公室提供者稱爲"公司代表") 或者 獨立託管公司，由公司(該"受託人)持有這些存款證券，以信託方式存放ADR的最終所有者如果 公司根據適用法律和/或公司指示，按照附錄C中規定的形式或實質性相同形式(以及任何適用的股份證書或丟失股份證書的賠償)，向ADR註冊名單中列出的名稱發出這些存款證券，存放任何存款證券的公司代表或受託人，並附上股票轉讓表格和/或適用法律下需要的其他轉讓工具，

(D) 提供公司ADR註冊表副本（該副本可以通過電子郵件或存入資金協議的通知規定允許的任何方式發送）。

在收到任何轉讓文件，包括涉及這些存款證券的適用股份證書或遺失股份證書及ADR登記時，公司應：(I) 批准將先前由其ADR代表的存款證券轉讓給ADR登記上列出的人士，(II) 辦理公司會員登記簿的相關更新，以反映將先前由其ADR代表的存款證券轉讓給ADR登記上列出的人士，並(III) 向託管人提供公司會員登記簿的更新副本。

在存託人合理相信公司破產，或者公司處於接管狀態，申請破產和/或以其他方式進行重組、管理或清算的情況下，在終止日期之後，如果存放的證券未在證券交易所上市並公開交易，或者由於任何原因，存託人認爲自己無法或無法以合理的努力將存放的證券迅速出售，存放的證券應被視爲沒有價值（並且這樣的持有人應被視爲已指示存託人，存放的證券沒有價值）。 存託人可以但不必，持有人不可撤銷地同意並同意存託人可以指示其託管人將所有存放的證券交付給公司（由其管理人、接管人、行政接管人、清算人、臨時清算人、重組官員、臨時重組官員、受託人、控制人或其他機構進行監督 破產、破產、管理、重組或清算過程）並通知公司，已爲無對價讓出存放的股份。 公司應根據適用法律，迅速接受以無對價讓出存放股份並向存託人交付書面通知，確認（A）無對價接受放棄存放證券和（B）取消此種存放股份。 在通知公司已爲無對價讓出存放股份的情況並無論公司是否遵守前述句子之後，存託人應迅速通知持有人，他們的美國存托股已被取消，不需要向持有人支付任何對價。

一旦託管方遵守本款（17）條款（b）（iii）的規定，託管方及其代理人應對存託協議和美國存托股的所有義務免除，並不再承擔任何義務。

(c) 公司的責任。終止日期後，公司將免除存款協議下的所有義務，但仍需履行本段（17）規定的義務以及向託管人及其代理人的義務。

(d) 成立非贊助的ADR計劃。 儘管有任何相反規定，在根據本段（17）的任何終止情況下，託管人可以自行決定且無需通知公司，爲股份設立非贊助的美國存托股份計劃（根據託管人確定的條款），並向持有人提供一種方式以撤回存託憑證下的股份，並指示將該等股份存入該非贊助的美國存托股份計劃，但視託管人酌情收取本合同第（7）段規定的費用、收費和支出以及適用於非贊助的美國存托股份計劃的費用、收費和支出。

第2.21節。存入資金協議已經進行修改，以將本協議的附件(b)和(c)作爲存入資金協議的附件(b)和(c)。

第2.22節。 ADR的形式，反映了本第II條所規定的修正和澄清變更，以及所有未結的ADR均經修訂並重述，如附表A所示。

第三章

陳述與保證：各借款人及本次參與的各子公司擔保人(以下簡稱「各方」)於第七修正案生效日，分別作出以下陳述、保證和協議:

第3.01節。公司的陳述和保證公司向託管人聲明並保證，並同意：

(a) 本修正案一經公司簽署和交付，將被視爲已獲得有效授權、簽署和交付，同時存入資金協議經本修正案修訂後構成公司的合法、有效和具有約束力的義務，並且根據各自條款可對公司提起訴訟，但須遵守破產、破產、欺詐轉移、停止清償和類似普遍適用於債權人權利和一般公平原則的法律。

(b) 爲確保本修改案或根據此修改案修訂的《存入資金協議》在開曼群島的合法性、有效性、可執行性或可作爲證據，無需將這些協議提交或記錄在開曼群島的任何法院或其他機構，也無需在開曼群島就這些協議支付任何印花稅或類似稅費。

第3.02節。 存入資金的陳述和擔保存入資金的陳述和擔保 . 存入資金向公司陳述並擔保，同意，此修正案在存入資金簽署並交付後，將被存入資金妥善授權，簽署並交付，並且修正的存入協議構成存入資金的合法、有效且有約束力的義務，可依照各自條款對抗存入資金，但受關於破產、無力償還、欺詐轉移、停赫及類似普適性法律與有關債權和普遍公平原則的影響。

授予獎項

其他條款(無需翻譯)

第4.01節。生效日期表示2024年6月5日，該修訂和重新制定獲得公司股東批准的日期。本協議日期,自上文日期生效，然而，任何損害持有人和受益所有者任何重大現有權利的修正案在通知持有人之日起30天后生效。 生效後，每位持有人和受益所有者將被視爲同意並接受本修正案，並受存款協議的所有條款和條件的約束，如本修正案所修訂的。

第4.02節。批准； 權利和義務；衝突通過執行本修正案，各方批准並確認存入資金協議的條款，該條款已根據本修正案的條款進行修改。除本修正案中另有規定外，本修正案不影響任何一方在存入資金協議下的任何權利和義務。如果存入資金協議的條款和本修正案的條款之間存在衝突，本修正案的條款將控制並具有約束力。

第4.03節。         優秀的 美國存託憑證在此日期之前或之後發行的ADR（包括但不限於在此日期之前或之後發行的每一份ADS的條款），如果不反映此處生效的ADR形式的修訂和更改，則視爲已被修訂以反映此處生效的ADR形式的變更，並符合此處附表A所列的ADR形式，無需調換而可以繼續存在，直到持有人選擇出於任何原因根據存款協議交換它們。

第4.04節。賠償及免責存入資金協議第16節中包含的賠償條款和作爲存入資金協議附件A所附的ADR表格中第14段中包含的免責條款均已通過參考並視爲本文的一部分，並適用於本文，如同直接在本文中表述一樣，並且這些條款適用於存入資金機構和/或託管機構因本修正案及本文項下擬議的交易所引起、產生或因之而遭受的所有損失、責任、支出和/或損害。

第4.05節。         管轄法本修正案應根據美國或紐約州的法律進行解釋、規制和管理，不考慮紐約關於法律衝突的原則，但前述內容不影響選擇紐約法律或法院的任何法定權利。存入資金協議的司法管轄條款已被引用並視爲適用於本文。

第4.06節。參照附錄存入資金協議第16、18、19、21、22和23節的條款被引用於此，並視爲本協議的一部分，適用於本協議，如同直接在此陳述。

第4.07節。相關方。 本修正案可以由一份或多份文件執行，每份文件均應被視爲原件，並且所有這些文件共同構成同一份文件。通過傳真或其他電子傳輸方式（包括「.pdf」、「.tif」或類似格式）交付本修正案的簽署頁應視爲手動簽署對方的交付。

第4.08節。全部協議；交付本修正案及根據修正案修訂的存入資金協議，包含各方就其主題事項達成的全部協議，並取代各方之間關於本主題事項的所有現有和其他通信（口頭、書面或其他形式）。通過傳真或其他電子傳輸（包括「.pdf」、「tif」或類似格式）交付簽署本修正案的簽字頁應視爲有效交付其手動簽署的副本。

鑑證本文，鬥魚國際控股有限公司和摩根大通銀行已於上述日期作爲首個日期並持續持有ADR後，正式簽署了存款協議修正案第2條，並所有ADR持有人應在此之後繼續持有ADR即成爲本協議各方。

附件A

附加並併入

存託協議的修訂案1

[美國存託憑證正面表格]

美國存託憑證

證明

美國存托股

代表

普通股份

1995年。

2024年6月5日

（在開曼群島法律下成立的公司）

摩根大通銀行，N.A.，一家全國性的銀行協會 根據美利堅合衆國法律組建，作爲下述保存人（”保管人”），特此證明 那個                                                          是 註冊所有者 (a”持有者”) 的                            美國的 存托股份 (”ADS”），每個（但須遵守第 (13) 款（影響存放證券的變化)) 代表 一股普通股（包括第 (1) 段所述的股份接收權（ADS的發行), “股票” 以及存管人不時持有的與存款有關或代替存款的任何其他證券、現金或財產 股票，”存入的證券”），鬥魚國際控股有限公司是一家豁免公司，註冊於 開曼群島法律規定的有限責任（”公司”)，根據存款協議存放，日期 截至2019年7月16日（經不時修訂，”存款協議”），在公司中，存託人 以及不時發行的美國存託憑證的所有持有人和受益所有人（”ADR”）， 他們中的每一個人通過接受替代性爭議解決辦法成爲該協議的當事方。存款協議和本替代性爭議解決辦法（包括規定的條款） 反之）應受紐約州內部法律管轄，並根據紐約州內部法律進行解釋，但不給出 對適用其法律衝突原則的影響。此處使用但未在此定義的所有大寫術語均應 具有存款協議中此類條款所賦予的含義。

(1)  ADSs的發行.

(a)發行。這隻美國存托股票是存託協議項下發行的股票之一。除非本協議中另有規定，存託人只有在存入以下內容之後才能發行ADR：(i) 符合保管人要求的形式的股份;或(ii) 收到公司或任何登記處、過戶代理、清算代理或其他記錄股份所有權或交易的實體提供的股份權利。

(b)  借貸。作爲存託人，在其職責範圍內，存託人不得出借股份或美國存托股份。

(c)  存入資金人的陳述和擔保. 每位根據存入協議存放股份的人表示並保證：

此等聲明和保證將在股票的存入和取出、ADS的發行和註銷以及ADS的轉讓等事項之後繼續有效。如果任何聲明或保證在任何方面存在錯誤，公司和託管機構可以在違約持有人（包括但不限於代表第三方行事的持有人）和/或受益人承擔成本的情況下，採取一切必要行動來糾正此類誤述的後果。

(d) 存款人可以拒絕接受公司指定的任何股份進行存款，以便遵守美國證券法律法規的要求，包括但不限於1933年證券法及其制定的規則和規定。

(2)  已存入的證券的提取在第（4）段和（5）段規定的條件下，持有人可以（a）以符合託管行認可的證明形式在轉讓處或（b）在直接登記ADR情況下提供適當的指示和文件的情況下，有權在此ADR證明的ADS在的時間，在或從託管證券的保管人辦公室交付或以電子形式投資。 庫，託管人可以按照持有人的要求，風險和費用，在持有者要求的其他地點交付這些已存入的證券。 不管存款協議或此ADR的任何其他規定，只有符合1933年證券法的F-6表I.A.（1）款規定的原因，才能限制提取的存入證券。關於註冊、轉讓等的某些限制）和（5）持有者或受益人對稅款、稅費和其他費用的責任），在適合託管人在轉讓處的形式證明書形式的ADR在（a） or根據直接登記ADR的情況下提供適當的指示和文件 在這裏，持有人有權在此ADR證明的ADS時間所代表的日期，從保管人的辦公室交付或以電子格式提供。 庫。 在持有者要求的請求、風險和費用下，託管人可能在持有者要求的其他地方交付這些已存入的證券。 儘管存款協議或本ADR的任何其他規定，出於F-6表的I.A.（1）款規定的原因，可以限制提取的存入證券。

(3)  轉賬、拆分和組合美國存託憑證（ADRs）。 存託人或其代理將在指定的轉讓辦公室（“轉移辦事處”） （a）登記（“ADR登記簿”）用於註冊、轉讓登記、組合和拆分ADRs，對於直接登記ADRs的情況，其中將包括直接登記系統，該系統將在任何合理時間對持有人和公司開放，以便與持有人溝通，以促進公司的業務或與存託協議相關的事宜（b）提供ADRs的交付和收取設施。 ADR登記冊一詞包括直接登記系統。 此ADR（以及由此處證明的ADS所代表的存放證券）在適當背書（對於以書面形式發行的ADR）或交付適當的轉讓工具給存託人後，可通過交付轉讓具有相同效力，效果與紐約州法律規定的可轉讓票據相同； 在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時；即使存託人收到相反通知，也可以將此ADR登記冊上登記的人視爲此ADR的絕對所有者，對於所有目的，存託人或公司均不承擔任何義務或受存託協議或任何ADR約束於任何受益的持有人，除非此類受益的持有人是此處的持有人。 根據段落（4）和（5），此ADR可在ADR登記冊上轉讓，並可將其拆分爲其他ADR或與其他ADR合併爲一個ADR，以此來證明用於拆分或合併的ADS的總數，這是通過此處的持有人或經合法授權的律師在適當背書情況下（對於已發行的ADR）或根據適用法律可能要求交付給存託人的適當轉讓工具並經過有關法律可能要求的蓋章。 在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時；存託人可能在任何時候關閉ADR登記冊，或者不時關閉，視其爲方便之舉；或在ADR登記冊的發行部分，當公司合理要求（唯目的是爲了使公司遵守適用法律時），存託人或公司的唯一要求。進一步規定：若發生此類情況，存託人不承擔任何責任，並應由公司提供賠償。根據持有人的要求，存託人應出於更換持有證照ADR爲直接登記ADR的目的，或反之，簽署並交付持有證照ADR或直接登記ADR（視情況而定），併爲持有人要求的任何授權ADS數量簽署，證明持有證照ADR或直接登記ADR所證明的ADS數量與持有證照ADR或直接登記ADR（視情況而定）所替代的ADS數量相同。

(4)  註冊、轉移等存在某些限制事前發行、註冊、轉讓登記、拆分或合併任何ADR、向其進行任何分配的交付或在第(2)段的最後一句的情況下，任何存託憑證的撤回，並且在本段(4)的(b)(ii)款的情況下，公司、託管人或保管人可能會要求:已存入的證券的提取存託憑證的撤回以及不時在本段(4)的(b)(ii)款中，公司、存託人或保管人可能會要求:

(a) 對其付款，其中包括(i) 任何股票轉倉或其他稅收或其他政府費用，(ii) 任何股票轉倉或註冊費用適用於在適用註冊處登記的股份或其他存款證券的轉讓，以及(iii) 根據第(7)段規定的任何適用費用。保管人的費用。 (b) 提供滿意的證明：(i)任何簽署人的身份和簽名的真實性，(ii)其他信息，包括但不限於公民身份、居住地、交易所點批准、任何證券的所有權、受益所有權，以及任何與適用法律、法規、證券押入條件和存款協議及本ADR條款有關的，存管人認爲必要或適當的信息；和

(b) 提供令其滿意的證明（i）任何簽署人的身份和簽名的真實性；以及（ii）其他信息，包括但不限於公民身份、住宅、交易所管制批准、任何證券的受益所有權或其他所有權或利益、遵守適用法律、法規、存放證券的規定和存款協議及本ADR的條款，正如其認爲必要或適當的。

(c) 符合託管人可能依據存託協議制定的規定或託管人認爲需要遵守的適用法律、規則和法規。

發行美國存托股票（ADR），接受股票存款，登記，轉讓登記，拆分或合併ADR，或者根據第（2）段最後一句，暫停可存入的證券， 取出存託證券。放棄發行的收據和存託證券僅可因下列原因之一而暫時停止： (i) 由於存託人或發行人關閉轉讓簿或在股東大會進行投票或支付股息時的股票存入 (ii) 付款費用、稅款和類似費用 (iii) 遵守任何與收據或存託證券提取有關的美國或外國法律或政府法規，或( iv) 根據不時生效的6號表格的I（A）（1）段或任何後續規定的規定。收據僅可按發行人的整股數取消註冊。）撤回可存入的證券可能會暫時中止，通常或在特定情況下，當ADR註冊表或任何存入證券的註冊表關閉或者託管人認爲採取任何此類行動是明智的時候。

(5)  持有人或受益人應對稅費和其他費用負責如果託管人或存託人就本ADR、本文所載ADS所代表的任何存款證券或其分配以及相關的任何稅款或其他政府費用（包括任何罰款和/或利息）需要支付，包括但不限於適用於中國國家稅務總局（SAT）發行的《財稅發〔2009〕82號》或其他已發行並不時修訂的通知、法令、命令或裁定的中國企業所得稅，則此類稅款或其他政府費用應由此處的持有人向存託人支付，並且通過持有或擁有本ADR或本文所載的任何ADS，在此的持有人及所有受益人，以及所有先前的持有人和受益人，共同及連帶地同意賠償、捍衛並使存託人及其代理免受此類稅款或其他政府費用的影響。儘管存託人有權向ADS的現任和前任受益人尋求償還，但此處持有人（及所有先前的持有人）承認並同意存託人無義務向任何現任或前任ADS的受益人尋求根據本段（5）所欠款項的支付。公司或存託人不應對ADS和ADR的持有人或受益人未能遵守適用稅法、規則和/或法規承擔責任。儘管存託人有權向現任及前任受益人尋求償還，但通過持有或擁有本ADR，此處的持有人（和先前的持有人）承認並同意，存託人無義務向任何現任或前任受益人尋求根據本段（5）所欠款項的支付。存託人可以拒絕完成任何註冊、轉讓、分拆或合併，或者根據第（2）段的最後一句話已存入的證券的提取任何存入的證券在支付款項前，不得提取。存款人還可能從存入的證券上的任何分配中扣除，或者可能在嘗試通過合理方式事先通知存款人後，通過公開或私下銷售存款人的任何部分或全部存入的證券，並將此扣除款項或上述銷售的收益用於支付稅款或其他政府稅收，存款人仍應對任何不足負責，並應減少此處所證實的ADS的數量以反映此類股票的銷售。與向持有人分配有關，在向持有人分配任何款項時，公司將向適當的政府機構匯款所有公司應扣除並歸屬於該政府機構的任何款項（如果有）；存託人和保管人將向適當的政府機構匯款應扣除並歸屬於該政府機構的存託人或保管人應扣除並歸屬於該政府機構的任何款項（如有）。如果存託人確定存入的證券上的任何非現金形式的分配（包括股票或權益）受到存託人或保管人有義務扣除的任何稅款，存託人可以按存託人認爲有必要和可行的方式處置此類財產的全部或部分，以支付此類稅款，通過公開或私下方式出售，並應將此類銷售的淨收益或在扣除此類稅款後剩餘的此類財產的餘額分配給有權的持有人。每位持有人和實益所有人同意對存託人、公司、保管人及其各自的管理人員、董事、僱員、代理人和關聯公司承擔責任，並使其免受任何因因退稅、源泉扣繳稅率降低或其他稅收優惠而導致的稅款退回、增加稅款、罰款或利息而由其向任何政府機關要求的索賠，這些義務將在ADS的轉讓或放棄或者存託協議終止後繼續有效。

(6)  利益披露.

(a)  總體來說在規定或管理存放證券的條款可能要求披露或對受益人或其他所有權人的持有或對存放證券、其他股票和其他有價證券的利益設立限制，並且可能規定阻止轉讓、投票或其他權利來執行此類披露或限制時，持有人和受益人同意遵守所有這些披露要求和所有權限制，並遵守公司在此方面的任何合理指示。公司保留要求持有人或受益人交付其美國存托股份以取消和撤回存放證券的權利，以便公司直接處理該持有人或受益人作爲股份持有人的情形，並且持有人和受益人同意遵守此類指示。存託人同意配合公司努力通知持有人公司行使本段規定下的權利，並在公司就公司可能如何就任何持有人實施此類要求的方式上進行協商並提供合理協助方面，爲避免疑問，存託人應在前述事項中由公司給予賠償。

(b)  特定司法管轄區。對開曼群島的法律法規和公司章程條款進行的任何摘要，僅供持有人、受益所有人和託管人蔘考。此類摘要僅爲概要，可能不包括適用於持有人或受益所有人的所有重要部分，而這些法律法規和公司章程可能在存款協議日期後發生變化。託管人和公司均無義務更新此類摘要。

(7)  保管人的費用。.

(a) Rights of the Depositary. The Depositary may charge, and collect from, (i) each person to whom ADSs are issued, including, without limitation, issuances against deposits of Shares, issuances in respect of Share Distributions, Rights and Other Distributions (as such terms are defined in paragraph (10) (Distributions on Deposited Securities)), issuances pursuant to a stock dividend or stock split declared by the Company, or issuances pursuant to a merger, exchange of securities or any other transaction or event affecting the ADSs or the Deposited Securities, and (ii) each person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for any other reason, a fee of up to U.S.$5.00 for each 100 ADSs (or portion thereof) issued, delivered, reduced, cancelled or surrendered, or upon which a Share Distribution or elective distribution is made or offered (as the case may be). The Depositary may sell (by public or private sale) sufficient securities and property received in respect of Share Distributions, Rights and Other Distributions prior to such deposit to pay such charge.

(b) Additional Fees, Charges and Expenses by the Depositary. The following additional fees, charges and expenses shall also be incurred by the Holders, the Beneficial Owners, by any party depositing or withdrawing Shares or by any party surrendering ADSs and/or to whom ADSs are issued (including, without limitation, issuances pursuant to a stock dividend or stock split declared by the Company or an exchange of stock regarding the ADSs or the Deposited Securities or a distribution of ADSs pursuant to paragraph (10) (Distributions on Deposited Securities)), whichever is applicable:

(i)        a fee of up to U.S.$0.05 per ADS held for any Cash distribution made, or for any elective cash/stock dividend offered, pursuant to the Deposit Agreement,

(ii)        a fee of up to U.S.$0.05 per ADS held for the direct or indirect distribution of securities (other than ADSs or rights to purchase additional ADSs pursuant to paragraph (10) hereof) or the net cash proceeds from the public or private sale of any such securities, regardless of whether any such distribution and/or sale is made by, for, or received from, or (in each case) on behalf of, the Depositary, the Company and/or any third party (which fee may be assessed against Holders as of a record date set by the Depositary),

(iii)       an aggregate fee of up to U.S.$0.05 per ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against Holders as of the record date or record dates set by the Depositary during each calendar year and shall be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends or other cash distributions), and

(iv)       an amount for the reimbursement of such charges and expenses as are incurred by the Depositary and/or any of its agents (including, without limitation, the Custodian, as well as charges and expenses incurred on behalf of Holders in connection with compliance with foreign exchange control regulations or any law or regulation relating to foreign investment) in connection with the servicing of the Shares or other Deposited Securities, the sale of securities (including, without limitation, Deposited Securities), the delivery of Deposited Securities or otherwise in connection with the Depositary's or its Custodian's compliance with applicable law, rule or regulation (which charges and expenses may be assessed on a proportionate basis against Holders as of the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge or expense from one or more cash dividends or other cash distributions).

(c) Other Obligations, Fees, Charges and Expenses. The Company will pay all other fees, charges and expenses of the Depositary and any agent of the Depositary (except the Custodian) pursuant to agreements from time to time between the Company and the Depositary, except:

(i)       stock transfer or other taxes and other governmental charges (which are payable by Holders or persons depositing Shares);

(ii)       a transaction fee per cancellation request (including any cancellation request made through SWIFT, facsimile transmission or any other method of communication) as disclosed on the "Disclosures" page (or successor page) of www.adr.com (as updated by the Depositary from time to time, "ADR.com") and any applicable delivery expenses (which are payable by such persons or Holders); and

(iii)       transfer or registration expenses for the registration or transfer of Deposited Securities on any applicable register in connection with the deposit or withdrawal of Deposited Securities (which are payable by persons depositing Shares or Holders withdrawing Deposited Securities).

(d) Foreign Exchange Related Matters. To facilitate the administration of various depositary receipt transactions, including disbursement of dividends or other cash distributions and other corporate actions, the Depositary may engage the foreign exchange desk within JPMorgan Chase Bank, N.A. (the "Bank") and/or its affiliates in order to enter into spot foreign exchange transactions to convert foreign currency into U.S. dollars ("FX Transactions"). For certain currencies, FX Transactions are entered into with the Bank or an affiliate, as the case may be, acting in a principal capacity. For other currencies, FX Transactions are routed directly to and managed by an unaffiliated local custodian (or other third-party local liquidity provider), and neither the Bank nor any of its affiliates is a party to such FX Transactions.

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

Notwithstanding the foregoing, to the extent the Company provides U.S. dollars to the Depositary, neither the Bank nor any of its affiliates will execute an FX Transaction as set forth herein. In such case, the Depositary will distribute the U.S. dollars received from the Company.

Further details relating to the applicable foreign exchange rate, the applicable spread and the execution of FX Transactions will be provided by the Depositary on ADR.com. The Company, Holders and Beneficial Owners each acknowledge and agree that the terms applicable to FX Transactions disclosed from time to time on ADR.com will apply to any FX Transaction executed pursuant to the Deposit Agreement.

(e) The right of the Depositary to charge and receive payment of fees, charges and expenses as provided above shall survive the termination of the Deposit Agreement. Upon the resignation or removal of the Depositary, such right shall extend for those fees, charges and expenses incurred prior to the effectiveness of such resignation or removal.

(f) Disclosure of Potential Depositary Payments. The Depositary anticipates reimbursing the Company for certain expenses incurred by the Company that are related to the establishment and maintenance of the ADR program upon such terms and conditions as the Company and the Depositary may agree from time to time. The Depositary may make available to the Company a set amount or a portion of the Depositary fees charged in respect of the ADR program or otherwise upon such terms and conditions as the Company and the Depositary may agree from time to time.

(g) The Depositary may agree to reduce or waive certain fees, charges and expenses provided herein and in the Deposit Agreement, including, without limitation, those described in this paragraph (7) that would normally be charged on ADSs issued to or at the direction of, or otherwise held by, the Company and/ or certain Holders and Beneficial Owners and holders and beneficial owners of Shares of the Company.

(8)  Available Information.  The Deposit Agreement, the provisions of or governing Deposited Securities and any written communications from the Company, which are both received by the Custodian or its nominee as a holder of Deposited Securities and made generally available to the holders of Deposited Securities, are available for inspection by Holders at the offices of the Depositary and the Custodian, at the Transfer Office, on the website of the United States Securities and Exchange Commission (the “Commission”), or upon request from the Depositary (which request may be refused by the Depositary at its discretion).  The Depositary will distribute copies of such communications (or English translations or summaries thereof) to Holders when furnished by the Company.  The Company is subject to the periodic reporting requirements of the Securities Exchange Act of 1934 and accordingly files certain reports with the Commission.  Such reports and other information may be inspected and copied through the Commission’s EDGAR system or at public reference facilities maintained by the Commission located at the date hereof at 100 F Street, NE, Washington, DC 20549.

(9)  Execution.  This ADR shall not be valid for any purpose unless executed by the Depositary by the manual or facsimile signature of a duly authorized officer of the Depositary.

Dated:

The Depositary’s office is located at 383 Madison Avenue, Floor 11, New York, New York 10179.

[FORM OF REVERSE OF ADR]

(10)  Distributions on Deposited Securities.  Subject to paragraphs (4) (Certain Limitations to Registration, Transfer etc.) and (5) (Liability of Holder or Beneficial Owner for Taxes, Duties and other Charges), to the extent practicable, the Depositary will distribute to each Holder entitled thereto on the record date set by the Depositary therefor at such Holder’s address shown on the ADR Register, in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received by the Custodian) represented by ADSs evidenced by such Holder’s ADRs:

(a)  Cash.  Any U.S. dollars available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion thereof authorized in this paragraph (10) (“Cash”), on an averaged or other practicable basis, subject to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to certain Holders, and (iii) deduction of the Depositary’s and/or its agents’ fees and expenses in (1) converting any foreign currency to U.S. dollars by sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion may be made on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the Depositary may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner.

To the extent that any of the Deposited Securities is not or shall not be entitled, by reason of its date of issuance, or otherwise, to receive the full amount of such cash dividend, distribution, or net proceeds of sales, the Depositary shall make appropriate adjustments in the amounts distributed to the Holders issued in respect of such Deposited Securities. To the extent the Company or the Depositary shall be required to withhold and does withhold from any cash dividend, distribution or net proceeds from sales in respect of any Deposited Securities an amount on account of taxes, the amount distributed on the ADSs issued in respect of such Deposited Securities shall be reduced accordingly.

To the extent the Depositary determines in its discretion that it would not be permitted by applicable law, rule or regulation, or it would not otherwise be practicable, to convert foreign currency into U.S. dollars and/or distribute such U.S. dollars to any or all of the Holders entitled thereto, the Depositary may in its discretion distribute some or all of the foreign currency received by the Depositary as it deems permissible and practicable to, or retain and hold such foreign currency uninvested and without liability for interest thereon for the respective accounts of, the Holders entitled to receive the same.

(b)  Shares.  (i) Additional ADRs evidencing whole ADSs representing any Shares available to the Depositary resulting from a dividend or free distribution on Deposited Securities consisting of Shares (a “Share Distribution”) and (ii) U.S. dollars available to it resulting from the net proceeds of public or private sales of Shares received in a Share Distribution, which Shares would give rise to fractional ADSs if additional ADRs were issued therefor, as in the case of Cash.

(c)  Rights.  (i) Warrants or other instruments in the discretion of the Depositary representing rights to acquire additional ADRs in respect of any rights to subscribe for additional Shares or rights of any nature available to the Depositary as a result of a distribution on Deposited Securities (“Rights”), to the extent that the Company timely furnishes to the Depositary evidence satisfactory to the Depositary that the Depositary may lawfully distribute the same (the Company has no obligation to so furnish such evidence), or (ii) to the extent the Company does not so furnish such evidence and public or private sales of Rights are practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Rights as in the case of Cash, or (iii) to the extent the Company does not so furnish such evidence and such public or private sales cannot practicably be accomplished by reason of the nontransferability of the Rights, limited markets therefor, their short duration or otherwise, nothing (and any Rights may lapse).

(d)  Other Distributions.  (i) Securities or property available to the Depositary resulting from any distribution on Deposited Securities other than Cash, Share Distributions and Rights (“Other Distributions”), by any means that the Depositary may deem equitable and practicable, or (ii) to the extent the Depositary deems distribution of such securities or property not to be equitable and practicable, any U.S. dollars available to the Depositary from the net proceeds of public or private sales of Other Distributions as in the case of Cash.

(e) To the extent that the Depositary determines in its discretion that any distribution pursuant to this paragraph (10) (Distributions on Deposited Securities) would not be permissible by applicable law, rule or regulation, or is not otherwise practicable with respect to any or all Holders, the Depositary may in its discretion make such distribution as it so deems permissible and practicable, including the distribution of some or all of any Cash, foreign currency, securities or other property (or appropriate documents evidencing the right to receive some or all of any such Cash, foreign currency, securities or other property), and/or the Depositary may retain and hold some or all of such Cash, foreign currency, securities or other property as Deposited Securities with respect to the applicable Holders' ADRs (without liability for interest thereon or the investment thereof).

(f) To the extent the Depositary retains and holds any Cash, foreign currency, securities or other property as permitted under this paragraph (10) (Distributions on Deposited Securities), any and all fees, charges and expenses related to, or arising from, the holding thereof (including, but not limited to those provided in paragraph (7) of this form of ADR (Charges of Depositary)) shall be paid from such Cash, foreign currency, securities or other property, or the net proceeds from the sale thereof, thereby reducing the amount so held hereunder.

(g) Sales. In all instances where the Deposit Agreement or the form of ADR refers to a "sale" (or words of similar import) of securities or property, the Depositary may, but shall not be obligated, to effect any such sale unless the securities to be sold are listed and publicly traded on a securities exchange or there is a public market for the property to be sold. To the extent the securities are not so listed and publicly traded or there is no public market for the property so distributed by the Company:

(i)       the Depositary shall, in the event the Deposit Agreement is terminated and the Depositary holds Deposited Securities that are not listed and publicly traded or property for which there is no public market after the Termination Date, act in accordance with paragraph (17)(b) of the form of ADR in respect of such securities and property; and

(ii)       in the event the Depositary or its Custodian receives (A) an Other Distribution under paragraph (10) consisting of securities or property that are not distributed by the Depositary pursuant to this paragraph (10) or (B) a distribution of Rights that falls under subparagraph (10)(c)(iii) above, the Depositary will not terminate the Deposit Agreement under paragraph (17)(a)(ii)(D) of the form of ADR but, in lieu of termination, the Depositary will, in the case of an Other Distribution, be deemed to have sold the aggregate number of securities and/or property so received for nominal value and shall have no obligation to distribute such securities or any proceeds from the deemed sale thereof to the Holders and, in the case of Rights that fall under subparagraph (10)(c)(iii) above, allow such Rights to lapse.

Furthermore, in the event the Depositary endeavors to make a sale of Shares, other securities or property, such securities and/or property may be sold in a block sale or single lot transaction.

The Depositary reserves the right to utilize a division, branch or affiliate of JPMorgan Chase Bank, N.A. to direct, manage and/or execute any public and/or private sale of securities and/or property hereunder.  Such division, branch and/or affiliate may charge the Depositary a fee in connection with such sales, which fee is considered an expense of the Depositary contemplated above and/or under paragraph (7) (Charges of Depositary). Any U.S. dollars available will be distributed by checks drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without liability and dealt with by the Depositary in accordance with its then current practices. All purchases and sales of securities will be handled by the Depositary in accordance with its then current policies, which are currently set forth in the “Depositary Receipt Sale and Purchase of Security” section of https://www.adr.com/Investors/FindOutAboutDRs, the location and contents of which the Depositary shall be solely responsible for.

(11)  Record Dates.  The Depositary may, after consultation with the Company if practicable, fix a record date (which, to the extent applicable, shall be as near as practicable to any corresponding record date set by the Company) for the determination of the Holders who shall be responsible for the fee assessed by the Depositary for administration of the ADR program and for any expenses provided for in paragraph (7) hereof as well as for the determination of the Holders who shall be entitled to receive any distribution on or in respect of Deposited Securities, to give instructions for the exercise of any voting rights, to receive any notice or to act in respect of other matters and only such Holders shall be so entitled or obligated.

(12)  Voting of Deposited Securities.

(a)  Notice of Any Meeting or Solicitation.  Notice of any Meeting or Solicitation.  As soon as practicable after receipt of notice of any meeting at which the holders of Shares are entitled to vote, or of solicitation of consents or proxies from holders of Shares or other Deposited Securities, the Depositary shall fix the ADS record date in accordance with paragraph (11) above provided that if the Depositary receives a written request from the Company in a timely manner and at least 30 days prior to the date of such vote or meeting, the Depositary shall, at the Company’s expense, distribute to Holders a notice (the “Voting Notice”) stating (i) final information particular to such vote and meeting and any solicitation materials, (ii) that each Holder on the record date set by the Depositary will, subject to any applicable provisions of Cayman Islands law, be entitled to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the ADSs evidenced by such Holder’s ADRs and (iii) the manner in which such instructions may be given or deemed given in accordance with paragraph (b) below, including instructions to give a discretionary proxy to a person designated by the Company.  Each Holder shall be solely responsible for the forwarding of Voting Notices to the Beneficial Owners of ADSs registered in such Holder’s name.  There is no guarantee that Holders and Beneficial Owners generally or any Holder or Beneficial Owner in particular will receive the notice described above with sufficient time to enable such Holder or Beneficial Owner to return any voting instructions to the Depositary in a timely manner.

(b)  Voting of Deposited Securities.

(c)  Alternative Methods of Distributing Materials. Notwithstanding anything contained in the Deposit Agreement or any ADR, the Depositary may, to the extent not prohibited by any law, regulation or requirement of the stock exchange on which the ADSs are listed, in lieu of distribution of the materials provided to the Depositary in connection with any meeting of or solicitation of consents or proxies from holders of Deposited Securities, distribute to the Holders a notice that provides Holders with or otherwise publicizes to Holders instructions on how to retrieve such materials or receive such materials upon request (i.e., by reference to a website containing the materials for retrieval or a contact for requesting copies of the materials).  Holders are strongly encouraged to forward their voting instructions as soon as possible.  Voting instructions will not be deemed received until such time as the ADR department responsible for proxies and voting has received such instructions, notwithstanding that such instructions may have been physically received by JPMorgan Chase Bank, N.A., as Depositary, prior to such time.

(d)  Manner of Voting. The Depositary has been advised by the Company that under Cayman Islands law and the Memorandum and Articles of Association of the Company, each as in effect as of the date of the Deposit Agreement, voting at any meeting of shareholders of the Company is by show of hands unless a poll is (before or on the declaration of the results of the show of hands or on the withdrawal of any other demand for a poll) demanded. In the event that voting on any resolution or matter is conducted on a show of hands basis in accordance with the Memorandum and Articles of Association, the Depositary will refrain from voting and the voting instructions received by the Depositary from Holders shall lapse. The Depositary will not demand a poll or join in demanding a poll, whether or not requested to do so by Holders of ADSs.

(13)  Changes Affecting Deposited Securities.

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

(b)  To the extent the Depositary does not so amend this ADR or make a distribution to Holders to reflect any of the foregoing, or the net proceeds thereof, whatever cash, securities or property results from any of the foregoing shall constitute Deposited Securities and each ADS evidenced by this ADR shall automatically represent its pro rata interest in the Deposited Securities as then constituted.

(c)  Promptly upon the occurrence of any of the aforementioned changes affecting Deposited Securities, the Company shall notify the Depositary in writing of such occurrence and as soon as practicable after receipt of such notice from the Company, may instruct the Depositary to give notice thereof, at the Company’s expense, to Holders in accordance with the provisions hereof. Upon receipt of such instruction, the Depositary shall give notice to the Holders in accordance with the terms thereof, as soon as reasonably practicable.

(14)  Exoneration.

(a) Force Majeure, Limitations on Liability and Obligations. The Depositary, the Company, and each of their respective directors, officers, employees, agents and affiliates and each of them shall:

(i)        incur or assume no liability to Holders or Beneficial Owners (A) if any present or future law, rule, regulation, fiat, order or decree of the United States, Cayman Islands, Hong Kong, the People’s Republic of China, or any other country or jurisdiction, or of any governmental or regulatory authority or any securities exchange or market or automated quotation system, the provisions of or governing any Deposited Securities, any present or future provision of the Company's charter, any act of God, war, terrorism, nationalization, epidemic, pandemic, expropriation, currency restrictions, extraordinary market conditions, work stoppage, strike, civil unrest, revolutions, rebellions, explosions, cyber, ransomware or malware attack, computer failure or circumstance beyond its direct and immediate control shall prevent or delay, or shall cause any of them to be subject to any civil or criminal penalty in connection with, any act which the Deposit Agreement or this ADR provides shall be done or performed by it or them (including, without limitation, voting pursuant to paragraph (12) hereof), or (B) by reason of any non-performance or delay, caused as aforesaid, in the performance of any act or things which by the terms of the Deposit Agreement it is provided shall or may be done or performed or any exercise or failure to exercise any discretion given it in the Deposit Agreement or this ADR (including, without limitation, any failure to determine that any distribution or action may be lawful or reasonably practicable);

(ii)        incur or assume no liability to Holders or Beneficial Owners except to perform its obligations to the extent they are specifically set forth in this ADR and the Deposit Agreement without gross negligence or willful misconduct and the Depositary shall not be a fiduciary or have any fiduciary duty to Holders or Beneficial Owners;

(iii)        in the case of the Depositary and its agents, be under no obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities, the ADSs or this ADR;

(iv)        in the case of the Company and its agents hereunder be under no obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities, the ADSs or this ADR, which in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expense (including fees and disbursements of counsel) and liability be furnished as often as may be required; and

(v)        not be liable to Holders or Beneficial Owners for any action or inaction by it in reliance upon the advice of or information from any legal counsel, any accountant, any person presenting Shares for deposit, any Holder, or any other person believed by it to be competent to give such advice or information and/or, in the case of the Depositary, the Company.

(b) Insolvency, Liability, etc., of Custodian, Securities Depository, Clearing Agency or Settlement System. The Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, the insolvency of any Custodian that is not a branch or affiliate of JPMorgan Chase Bank, N.A. Notwithstanding anything to the contrary contained in the Deposit Agreement (including the ADRs) and, subject to the further limitations set forth in clause (q) of this paragraph (14), the Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, any act or omission to act on the part of the Custodian except to the extent that any Holder has incurred liability directly as a result of the Custodian having (i) committed fraud or willful misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in the provision of custodial services to the Depositary as determined in accordance with the standards prevailing in the jurisdiction in which the Custodian is located.

The Depositary shall not be liable for the acts or omissions made by, or the insolvency of, any securities depository, clearing agency or settlement system.

(c) The Depositary, its agents and the Company may rely and shall be protected in acting upon any written notice, request, direction, instruction or document believed by them to be genuine and to have been signed, presented or given by the proper party or parties.

(d) The Depositary shall be under no obligation to inform Holders or Beneficial Owners about the requirements of the laws, rules or regulations or any changes therein or thereto of the Cayman Islands, Hong Kong, the People’s Republic of China, the United States or any other country or jurisdiction or of any governmental or regulatory authority or any securities exchange or market or automated quotation system.

(e) The Depositary and its agents will not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, for the manner in which any voting instructions are given or deemed to be given in accordance with paragraph 12(b) hereof, including instructions to give a discretionary proxy to a person designated by the Company, for the manner in which any vote is cast, including, without limitation, any vote cast by a person to whom the Depositary is instructed to grant a discretionary proxy pursuant to paragraph (12) hereof or deemed to have been instructed to grant a discretionary proxy pursuant to paragraph (12)(b) hereof, or for the effect of any such vote.

(f) The Depositary shall endeavor to effect any sale of securities or other property and any conversion of currency, securities or other property, in each case as is referred to or contemplated in the Deposit Agreement or the form of ADR, in accordance with the Depositary's normal practices and procedures under the circumstances applicable to such sale or conversion, but shall have no liability (in the absence of its own willful default or gross negligence or that of its agents, officers, directors or employees) with respect to the terms of any such sale or conversion, including the price at which such sale or conversion is effected, or if such sale or conversion shall not be practicable, or shall not be believed, deemed or determined to be practicable by the Depositary. Specifically, the Depositary shall not have any liability for the price received in connection with any public or private sale of securities (including, without limitation, for any sale made at a nominal price), the timing thereof or any delay in action or omission to act nor shall it be responsible for any error or delay in action, omission to act, default or negligence on the part of the party so retained in connection with any such sale or proposed sale.

(g) The Depositary shall not incur any liability in connection with or arising from any failure, inability or refusal by the Company or any other party, including any share registrar, transfer agent or other agent appointed by the Company, the Depositary or any other party, to process any transfer, delivery or distribution of cash, Shares, other securities or other property, including without limitation upon the termination of the Deposit Agreement, or otherwise to comply with any provisions of the Deposit Agreement that are applicable to it.

(h) The Depositary may rely upon instructions from the Company or its counsel in respect of any approval or license required for any currency conversion, transfer or distribution.

(i) The Depositary and its agents may own and deal in any class of securities of the Company and its affiliates and in ADRs.

(j) Notwithstanding anything to the contrary set forth in the Deposit Agreement or an ADR, the Depositary and its agents may fully respond to any and all demands or requests for information maintained by or on its behalf in connection with the Deposit Agreement, any Holder or Holders, any ADR or ADRs or otherwise related hereto or thereto to the extent such information is requested or required by or pursuant to any lawful authority, including without limitation laws, rules, regulations, administrative or judicial process, banking, securities or other regulators.

(k) None of the Depositary, the Custodian or the Company, or any of their respective directors, officers, employees, agents or affiliates shall be liable for the failure by any Holder or Beneficial Owner to obtain the benefits of credits or refunds of non-U.S. tax paid against such Holder's or Beneficial Owner's income tax liability.

(l) The Depositary is under no obligation to provide the Holders and Beneficial Owners, or any of them, with any information about the tax status of the Company. None of the Depositary, the Custodian or the Company, or any of their respective directors, officers, employees, agents and affiliates, shall incur any liability for any tax or tax consequences that may be incurred by Holders or Beneficial Owners on account of their ownership or disposition of the ADRs or ADSs.

(m) The Depositary shall not incur any liability for the content of any information submitted to it by or on behalf of the Company for distribution to the Holders or for any inaccuracy of any translation thereof, for any investment risk associated with acquiring an interest in the Deposited Securities, for the validity or worth of the Deposited Securities, for the credit-worthiness of any third party, for allowing any rights to lapse upon the terms of the Deposit Agreement or for the failure or timeliness of any notice from the Company.

(n) Notwithstanding anything herein or in the Deposit Agreement to the contrary, the Depositary and the Custodian(s) may use third-party delivery services and providers of information regarding matters such as, but not limited to, pricing, proxy voting, corporate actions, class action litigation and other services in connection herewith and the Deposit Agreement, and use local agents to provide services such as, but not limited to, attendance at any meetings of security holders of issuers. Although the Depositary and the Custodian will use reasonable care (and cause their agents to use reasonable care) in the selection and retention of such third-party providers and local agents, they will not be responsible for any errors or omissions made by them in providing the relevant information or services.

(o) 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 any matter arising wholly after the removal or resignation of the Depositary.

(p) The Company has agreed to indemnify the Depositary and its agents under certain circumstances and the Depositary has agreed to indemnify the Company under certain circumstances.

(q) Notwithstanding any other provision of the Deposit Agreement or this ADR to the contrary, neither the Depositary, the Company nor any of their respective agents shall be liable to Holders or Beneficial Owners for any indirect, special, punitive or consequential damages (including, without limitation, legal fees and expenses) or lost profits, in each case of any form incurred by any person or entity (including, without limitation, Holders and Beneficial Owners), whether or not foreseeable and regardless of the type of action in which such a claim may be brought.

(r) No provision of the Deposit Agreement or this ADR is intended to constitute a waiver or limitation of any rights which Holders or Beneficial Owners may have under the Securities Act of 1933 or the Securities Exchange Act of 1934, to the extent applicable.

(15)  Resignation and Removal of Depositary; the Custodian.

(a)  Resignation.  The Depositary may resign as Depositary by written notice of its election to do so 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.

(b)  Removal.  The Depositary may at any time be removed by the Company by no less than 60 days’ prior written notice of such removal, to become effective upon the later of (i) the 60th day after delivery of the notice to the Depositary and (ii) the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement.

(c)  The Custodian.  The Depositary may appoint substitute or additional Custodians and the term “Custodian” refers to each Custodian or all Custodians as the context requires.

(d) If either the Depositary provides notice of its resignation (pursuant to subparagraph (a) above) or the Company provides notice of the Depositary's removal (pursuant to subparagraph (b) above), and a successor depositary is not appointed by the sixtieth (60th) day after such notice of resignation or removal is first provided, the Depositary may terminate the Deposit Agreement and the ADR in the manner set out in paragraph (17) (Termination) of this ADR and the provisions of said paragraph (17) shall thereafter govern the Depositary's obligations under the Deposit Agreement and the form of ADR.

(16)  Amendment.  Subject to the last sentence of paragraph (2) (Withdrawal of Deposited Securities), the ADRs and the Deposit Agreement may be amended by the Company and the Depositary, provided that any amendment that imposes or increases any fees on a per ADS basis, charges or expenses (other than stock transfer or other taxes and other governmental charges, transfer or registration fees, the transaction fee per cancellation request (including any cancellation request made through SWIFT, facsimile transmission or any other method of communication) described in paragraph (7)(c)(ii) (Charges of Depositary) of the form of ADR, applicable delivery expenses or other such fees, charges or expenses), or that shall otherwise prejudice any substantial existing right of Holders or Beneficial Owners, shall become effective thirty (30) days after notice of such amendment shall have been given to the Holders. Every Holder and Beneficial Owner at the time any amendment to the Deposit Agreement so becomes effective shall be deemed, by continuing to hold such ADR or interest therein, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the Holder of any ADR to surrender such ADR and receive the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law. Any amendments or supplements which (i) are reasonably necessary (as agreed by the Company and the Depositary) in order for (a) the ADSs to be registered on Form F-6 under the Securities Act of 1933 or (b) the ADSs or Shares to be traded solely in electronic book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by Holders, shall be deemed not to prejudice any substantial rights of Holders or Beneficial Owners.   Notwithstanding the foregoing, if any governmental body or regulatory body should adopt new laws, rules or regulations which would require amendment or supplement of the Deposit Agreement or the form of ADR to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement and the ADR at any time in accordance with such changed laws, rules or regulations.  Such amendment or supplement to the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders or within any other period of time as required for compliance. Notice of any amendment to the Deposit Agreement or form of ADRs shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the Holders identifies a means for Holders and Beneficial Owners to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission’s, the Depositary’s or the Company’s website or upon request from the Depositary).

(17) Termination.

(a) Termination by the Depositary and the Company.

(i)       The Depositary shall, at any time at the written direction of the Company, terminate the Deposit Agreement by mailing notice of such termination to the Holders at least thirty (30) days prior to the Termination Date.

(ii)       The Depositary may also terminate the Deposit Agreement by mailing notice of such termination to the Holders at least thirty (30) days prior to the Termination Date if (A) sixty (60) days shall have expired after the date on which the Depositary first provided notice of its resignation to the Company and a successor Depositary shall not be operating under the Deposit Agreement, (B) sixty (60) days shall have expired after the date notice of removal is first provided and a successor Depositary shall not be operating under the Deposit Agreement, (C) the Company is bankrupt, in liquidation proceedings or insolvent, (D) the ADRs are delisted from a "national securities exchange" (that has registered with the Commission under Section 6 of the Securities Exchange Act of 1934), (E) the Company effects (or will effect) a redemption of all or substantially all of the Deposited Securities, or a cash or share distribution representing a return of all or substantially all of the value of the Deposited Securities, (F) there are no Deposited Securities with respect to ADSs remaining, including if the Deposited Securities are cancelled, or the Deposited Securities have been deemed to have no value, or (G) there occurs a merger, consolidation, sale of assets or other transaction as a result of which securities or other property are delivered in exchange for or in lieu of Deposited Securities.

(iii)       Additionally, the Depositary may immediately terminate the Deposit Agreement, without prior notice to the Company, any Holder or Beneficial Owner or any other person if (A) required by any law, rule or regulation relating to sanctions by any governmental authority or body, (B) the Depositary would be subject to liability under or pursuant to any law, rule or regulation, or (C) required by any governmental authority or body, in each case as determined by the Depositary in its reasonable discretion.

(b) Depositary's Obligations.

(i)       After the Termination Date, the Depositary and its agents will perform no further acts under the Deposit Agreement and this ADR, except to receive and hold (or sell) distributions on Deposited Securities, deliver Deposited Securities being withdrawn and to take such actions as provided in the next two paragraphs, in each case subject to payment to the Depositary of the applicable fees and expenses provided in paragraph (7) of this form of ADR (Charges of Depositary).

(ii)       After the Termination Date, if the Deposited Securities are listed and publicly traded on a securities exchange and the Depositary believes that it is able, permissible and practicable to sell the Deposited Securities without undue effort, then, the Depositary may endeavor to publicly or privately sell (as long as it may lawfully do so) the Deposited Securities, which sale may be effected in a block sale/single lot transaction and, after the settlement of such sale(s), to the extent legally permissible and practicable, distribute or hold in an account (which may be a segregated or unsegregated account) the net proceeds of such sale(s), less any amounts owing to the Depositary (including, without limitation, cancellation fees), together with any other cash then held by it under the Deposit Agreement, in trust, without liability for interest, for the pro rata benefit of the Holders entitled thereto. If the Depositary sells the Deposited Securities, the Depositary shall be discharged from all, and cease to have any, obligations under the Deposit Agreement and the ADRs after making such sale, except to account for such net proceeds and other cash.

(iii)       However, if the Deposited Securities are not listed and publicly traded on a securities exchange after the Termination Date, or if, for any reason, the Depositary does not sell the Deposited Securities, the Depositary shall use its reasonable efforts to ensure that the ADSs cease to be DTC eligible and that neither DTC nor any of its nominees shall thereafter be a Holder. At such time as the ADSs cease to be DTC eligible and/or neither DTC nor any of its nominees is a Holder, to the extent the Company is not, to the Depositary's knowledge, insolvent or in bankruptcy or liquidation, the Depositary shall:

(A)        cancel this ADR and all other outstanding ADRs,

(B)        request DTC to provide the Depositary with information on those holding ADSs through DTC and, upon receipt thereof, revise the ADR Register to reflect the information provided by DTC,

(C)        instruct its Custodian to deliver all Deposited Securities to the Company, a subsidiary or affiliate or registered office provider of the Company (the subsidiary or affiliate or registered office provider being the "Company Representative") or an independent trust company engaged by the Company (the "Trustee") to hold those Deposited Securities in trust for the beneficial owners of the ADRs if the Company is not permitted to hold any of the Deposited Securities under applicable law and/or the Company has directed the Depositary to deliver such Deposited Securities to a Company Representative or Trustee along with a stock transfer form and/or such other instruments of transfer covering such Deposited Securities as are needed under applicable law, and set forth in or substantially in the form of Exhibit C (and any applicable share certificate or indemnity for lost share certificate), in either case referring to the names set forth on the ADR Register, and

(D)        provide the Company with a copy of the ADR Register (which copy may be sent by email or by any means permitted under the notice provisions of the Deposit Agreement).

Upon receipt of any instrument of transfer covering such Deposited Securities, any applicable share certificate or indemnity for lost share certificate and the ADR Register, the Company shall: (I) approve the transfer of the Deposited Securities previously represented by their ADRs to the persons listed on the ADR Register (as applicable), (II) procure the relevant updates to the register of members of the Company to reflect the transfer of the Deposited Securities previously represented by their ADRs to the persons listed on the ADR Register (as applicable) and (III) provide the Depositary with a certified copy of the updated register of members of the Company.

To the extent the Depositary reasonably believes that the Company is insolvent, or if the Company is in receivership, has filed for bankruptcy and/or is otherwise in restructuring, administration or liquidation, and in any such case the Deposited Securities are not listed and publicly traded on a securities exchange after the Termination Date, or if, for any reason, the Depositary believes it is not able to or cannot practicably sell the Deposited Securities promptly and without undue effort, the Deposited Securities shall be deemed to have no value (and such Holders shall be deemed to have instructed the Depositary that the Deposited Securities have no value). The Depositary may, but shall not be obligated to, and the Holders irrevocably consent and agree that the Depositary may instruct its Custodian to deliver all Deposited Securities to the Company (acting, as applicable by its administrator, receiver, administrative receiver, liquidator, provisional liquidator, restructuring officer, interim restructuring officer, trustee, controller or other entity overseeing the bankruptcy, insolvency, administration, restructuring or liquidation process) and notify the Company that the Deposited Shares are surrendered for no consideration. The Company shall, subject to applicable law, promptly accept the surrender of the Deposited Shares for no consideration and deliver to the Depositary a written notice confirming (A) the acceptance of the surrender of the Deposited Securities for no consideration and (B) the cancellation of such Deposited Shares. Promptly after notifying the Company that the Deposited Shares are surrendered for no consideration and irrespective of whether the Company has complied with the immediately preceding sentence, the Depositary shall notify Holders that their ADSs have been cancelled with no consideration being payable to Holders.

Upon the Depositary's compliance with the provisions of this subparagraph (17)(b)(iii), the Depositary and its agents shall be discharged from all, and cease to have any, obligations under the Deposit Agreement and the ADRs.

(c) Company's Obligations. After the Termination Date, the Company shall be discharged from all obligations under the Deposit Agreement except for its obligations under this paragraph (17) and its obligations to the Depositary and its agents.

(d) Establishment of Unsponsored ADR Program. Notwithstanding anything to the contrary, in connection with any termination pursuant to this paragraph (17), the Depositary may, in its sole discretion and without notice to the Company, establish an unsponsored American depositary share program (on such terms as the Depositary may determine) for the Shares and make available to Holders a means to withdraw the Shares represented by the ADSs issued under the Deposit Agreement and to direct the deposit of such Shares into such unsponsored American depositary share program, subject, in each case, to receipt by the Depositary, at its discretion, of the fees, charges and expenses provided for in paragraph (7) hereof and the fees, charges and expenses applicable to the unsponsored American depositary share program.

(18)  Appointment; Acknowledgements and Agreements.  Each Holder and each Beneficial Owner, upon acceptance of any ADSs or ADRs (or any interest in any of them) issued in accordance with the terms and conditions of the Deposit Agreement shall be deemed for all purposes to (a) be a party to and bound by the terms of the Deposit Agreement and the applicable ADR(s), (b) appoint the Depositary its attorney-in-fact, with full power to delegate, to act on its behalf and to take any and all actions contemplated in the Deposit Agreement and the applicable ADR(s), to adopt any and all procedures necessary to comply with applicable law and to take such action as the Depositary in its sole discretion may deem necessary or appropriate to carry out the purposes of the Deposit Agreement and the applicable ADR(s), the taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof, and (c) acknowledge and agree that (i) nothing in the Deposit Agreement or any ADR shall give rise to a partnership or joint venture among the parties thereto, nor establish a fiduciary or similar relationship among such parties, (ii) the Depositary, its divisions, branches and affiliates, and their respective agents, may from time to time be in the possession of non-public information about the Company, Holders, Beneficial Owners and/or their respective affiliates, (iii) the Depositary and its divisions, branches and affiliates may at any time have multiple banking relationships with the Company, Holders, Beneficial Owners and/or the affiliates of any of them, (iv) the Depositary and its divisions, branches and affiliates may, from time to time, be engaged in transactions in which parties adverse to the Company, Holders, Beneficial Owners and/or their respective affiliates may have interests, (v) nothing contained in the Deposit Agreement or any ADR(s) shall (A) preclude the Depositary or any of its divisions, branches or affiliates from engaging in any such transactions or establishing or maintaining any such relationships, or (B) obligate the Depositary or any of its divisions, branches or affiliates to disclose any such transactions or relationships or to account for any profit made or payment received in any such transactions or relationships, (vi) the Depositary shall not be deemed to have knowledge of any information held by any branch, division or affiliate of the Depositary and (vii) notice to a Holder shall be deemed, for all purposes of the Deposit Agreement and this ADR, to constitute notice to any and all Beneficial Owners of the ADSs evidenced by such Holder’s ADRs.  For all purposes under the Deposit Agreement and this ADR, the Holder hereof shall be deemed to have all requisite authority to act on behalf of any and all Beneficial Owners of the ADSs evidenced by this ADR.

(19)  Waiver.  EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF DOUBT, EACH HOLDER AND BENEFICIAL OWNER OF, AND/OR HOLDER OF INTERESTS IN, ADSs OR ADRs) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY).  No provision of the Deposit Agreement or this ADR is intended to constitute a waiver or limitation of any rights which a Holder or any Beneficial Owner may have under the Securities Act of 1933 or the Securities Exchange Act of 1934, to the extent applicable.

(20)  Jurisdiction.  By holding or owning an ADR or ADS or an interest therein, Holders and Beneficial Owners each irrevocably agree that any legal suit, action or proceeding against or involving Holders or Beneficial Owners brought by the Company or the Depositary, arising out of or based upon the Deposit Agreement, the ADSs, the ADRs or the transactions contemplated therein, herein, thereby or hereby, may be instituted in a state or federal court in New York, New York, and by holding or owning an ADR or ADS or an interest therein each irrevocably waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding.  By holding or owning an ADR or ADS or an interest therein, Holders and Beneficial Owners each also irrevocably agree that any legal suit, action or proceeding against or involving the Depositary brought by Holders or Beneficial Owners, arising out of or based upon the Deposit Agreement, the ADSs, the ADRs or the transactions contemplated therein, herein, thereby or hereby, may only be instituted in a state or federal court in New York, New York.  Notwithstanding the above or anything in the Deposit Agreement to the contrary, in the Deposit Agreement each of the parties thereto (i.e. the Company, the Depositary and all Holders and Beneficial Owners) have agreed that: (i) the Depositary may, in its sole discretion, elect to institute any dispute, suit, action, controversy, claim or proceeding directly or indirectly based on, arising out of or relating to the Deposit Agreement, the ADSs, the ADRs or the transactions contemplated therein, herein, thereby or hereby, including without limitation any question regarding its or their existence, validity, interpretation, performance or termination (a “Dispute”) against any other party or parties (including, without limitation, Disputes, suits, actions or proceedings brought against Holders and Beneficial Owners), by having the Dispute referred to and finally resolved by an arbitration conducted under the terms set out below, and (ii) the Depositary may in its sole discretion require, by written notice to the relevant party or parties, that any Dispute, suit, action, controversy, claim or proceeding brought by any party or parties to the Deposit Agreement (including, without limitation, Disputes, suits, actions or proceedings brought by Holders and Beneficial Owners) against the Depositary shall be referred to and finally settled by an arbitration conducted under the terms set out in the Deposit Agreement: provided however, notwithstanding the Depositary’s written notice under this clause (ii), to the extent there are specific federal securities law violation aspects to any claims against the Company and/or the Depositary brought by any Holder or Beneficial Owner, the federal securities law violation aspects of such claims brought by a Holder or Beneficial Owner against the Company and/or the Depositary may, at the option of such Holder or Beneficial Owner, remain in state or federal court in New York, New York and all other aspects, claims, Disputes, legal suits, actions and/or proceedings brought by such Holder or Beneficial Owner against the Company and/or the Depositary, including those brought along with, or in addition to, federal securities law violation claims, would be referred to arbitration in accordance herewith.  Any such arbitration shall, at the Depositary’s election, be conducted either in New York, New York in accordance with the Commercial Arbitration Rules of the American Arbitration Association or in Hong Kong following the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL) with the Hong Kong International Arbitration Centre serving as the appointing authority, and the language of any such arbitration shall be English, in each case as provided in the Deposit Agreement.

EXHIBIT B

DEED OF UNDERTAKING FROM DOUYU INTERNATIONAL HOLDINGS LIMITED

Date: [Date]

DouYu International Holdings Limited (the "Company" or "we") refers to the Deposit Agreement dated as of July 16, 2019, as amended, between, among others, the Company and the Depositary (the "Deposit Agreement"). Capitalized words and expressions used in this deed poll that are not expressly defined herein shall have the meanings ascribed to them in the Deposit Agreement.

The Company hereby irrevocably and unconditionally undertakes to instruct its registered office provider to register in the register of members of the Company any and all share transfers submitted by the Depositary to the Company, including without limitation, any share transfer instructions submitted by the Depositary after the Termination Date.

The Company shall promptly deliver to the Depositary a certified copy of the updated register of members that reflects any share transfers submitted by the Depositary to the Company in accordance with the preceding paragraph.

This deed poll and the rights and obligations of the parties hereunder shall be governed by and construed in accordance with the laws of the Cayman Islands.

THIS DEED POLL has been executed as a deed and is delivered on the day and year first above written.

EXHIBIT C

SHARE TRANSFER FORM

Dated [Date]

JPMorgan Chase Bank, N.A. (the "Transferor," "we" or "us"), for good and valuable consideration received by us from the parties listed in the schedule attached hereto (the "Transferees"), hereby transfers to the Transferees the shares as set out opposite their name in the table contained in the Schedule hereto (the "Shares").

SCHEDULE TO EXHIBIT C

TRANSFEREES

C-2