content_image/154105.jpg
as prevailing market conditions. However, we do not expect the gains and losses in the values of these investments to have a material impact on our financial condition and results of operations. 

## ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 

## A. Debt Securities 

Not applicable 

## B. Warrants and Rights 

Not applicable 

## C. Other Securities 

Not applicable 

## D. American Depositary Shares 

## Depositary Fees 

Under the terms of the deposit agreement for our ADSs, an ADS holder may have to pay the following service fees to the depositary: 

<img src='content_image/154105.jpg'>

## Depositary Charges 

In addition, an ADS holder shall be responsible for the following charges: 

● taxes (including applicable interest and penalties) and other governmental charges; 

● such registration fees as may from time to time be in effect for the registration of common shares or other deposited securities on the share register and applicable to transfers of common shares or other deposited securities to or from the name of the custodian, the depositary or any nominees upon the making of deposits and withdrawals, respectively; 

● such cable, telex and facsimile transmission and delivery expenses as are expressly provided in the deposit agreement to be at the expense of ADS holders and beneficial owners of ADSs; 

● the expenses and charges incurred by the depositary in the conversion of foreign currency; and 

● the fees and expenses incurred by the depositary, the custodian or any nominee in connection with the servicing or delivery of deposited securities. 

Depositary fees payable upon the issuance and cancellation of ADSs are typically paid to the depositary by the brokers (on behalf of their clients) receiving the newly-issued ADSs from the depositary and by the brokers (on behalf of their clients) delivering the ADSs to the depositary for cancellation. The brokers in turn charge these transaction fees to their clients. 

