SECTION TWO TRANSFER OF SHARES

　　Article 143 A shareholder may transfer his (her) shares according to law.

　　Article 144 The transfer of shares shall be conducted in legally established stock exchanges.

　　Article 145 Registered share certificates shall be transferred by way of endorsement or other forms provided for by law and administrative decrees.

　　After the registered share certificates are transferred, the company shall record the names or both the names and addresses of the transferees in the list of shareholders.

　　No changes in the registration of shareholders shall be made pursuant to previous paragraph 30 days before the convening of the meeting of shareholders or five days before the record date for the issue of dividends.

　　Article 146 The transfer of bearer shares shall come into effect upon the delivery of the share certificates by shareholders to the transferre(s) at the stock exchanges.

　　Article 147 The promoters' shares may not be transferred within three years starting from the date of establishment of the company.

　　Directors, supervisors and managers of the company shall declare to the company the quantity of shares they hold and the shares concerned may not be transferred during the terms of their offices.

　　Article 148 State authorized investment institutions may transfer the shares they hold according to law and may also purchase shares held by other shareholders. The approval limits and management regulatory regions for such transfers shall be provided for separately by law or administrative decrees.

　　Article 149 A joint stock company limited may not buy shares issued by itself, except in order to decrease its capital by cancelling its shares or when it merges with other companies that hold its shares. After purchasing shares issued by itself according to the provisions of the preceding paragraph, a company shall cancel that portion of its shares, change its registration and make a notice to the public according to law and administrative decrees within ten days.

　　A company may not accept its own share certificates as collateral.

　　Article 150 In cases of shares being stolen, lost of destroyed, the shareholder concerned may request the people's court to declare the shares invalid pursuant to procedures for public invitation to assert claims contained in the Code of Civil Procedures.

　　After the people's court declares the shares invalid according to the prescribed procedure, the shareholder concerned may apply for re-issue of the share certificates with the company.