华普集团美股招股说明书(2025-06-03版)

of MAASE INC. (Incorporated under the laws of the Cayman Islands) DEUTSCHE BANK TRUST COMPANY AMERICAS, as depositary (herein called the “Depositary”), hereby certifies that________________ is the owner of ______________ American Depositary Shares (hereinafter “ADS”), representing deposited ClassA ordinary shares, each of Par Value of U.S. $0.001 including evidence of rights to receive such Class A ordinary shares (the“Shares”) of Maase Inc., a company incorporated under the laws of the Cayman Islands (the “Company”).As of the date of the (1)The Deposit Agreement.This American Depositary Receipt is one of an issue of American Depositary Receipts(“Receipts”), all issued or to be issued upon the terms and conditions set forth in the Deposit Agreement, dated as of March 27, 2019(as amended from time to time, the “Deposit Agreement”), by and among the Company, the Depositary, and all Holders andBeneficial Owners from time to time of Receipts issued thereunder, each of whom by accepting a Receipt agrees to become a partythereto and becomes bound by all the terms and conditions thereof.The Deposit Agreement sets forth the rights and obligations of Each owner and each Beneficial Owner, upon acceptance of any ADSs (or any interest therein) issued in accordance with the termsand 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 (b)appoint the Depositary its attorney‑in‑fact, with full power to delegate, to act on its behalf and to take any and all actionscontemplated in the Deposit Agreement and the applicable ADR(s), to adopt any and all procedures necessary to comply withapplicable law and to take such action as the Depositary in its sole discretion may deem necessary or appropriate to carry out thepurposes of the Deposit Agreement and the applicable ADR(s) (the taking of such actions to be the conclusive determinant of the The statements made on the face and reverse of this Receipt are summaries of certain provisions of the Deposit Agreement and theMemorandum and Articles of Association (as in effect on the date of the Deposit Agreement) and are qualified by and subject to thedetailed provisions of the Deposit Agreement, to which reference is hereby made.All capitalized terms used herein which are nototherwise defined herein shall have the meanings ascribed thereto in the Deposit Agreement.To the extent there is any inconsistencybetween the terms of this Receipt and the terms of the Deposit Agreement, the terms of the Deposit Agreement shall prevail.Prospective and actual Holders and Beneficial Owners are encouraged to read the terms of the Deposit Agreement.The Depositarymakes no representation or warranty as to the validity or worth of the Deposited Securities.The Depositary has made arrangements (2)Surrender of Receipts and Withdrawal of Deposited Securities.Upon surrender, at the Corporate Trust Office of theDepositary, of ADSs evidenced by this Receipt for the purpose of withdrawal of the Deposited Securities represented thereby, andupon payment of (i)the fees and charges of the Depositary for the making of withdrawals of Deposited Securities and cancellation ofReceipts (as set forth in Section5.9 of the Deposit Agreement and Article(9) hereof) and (ii)all fees, taxes and/or governmentalcharges payable in connection with such surrender and withdrawal, and, subject to the terms and conditions of the Deposit Agreement, A Receipt surrendered for such purposes shall, if so required by the Depositary, be properly endorsed in blank or accompanied byproper instruments of transfer in blank, and if the Depositary so requires, the Holder thereof shall execute and deliver to the Depositarya written order directing the Depositary to cause the Deposited Securities being withdrawn to be Delivered to or upon the written orderof a person or persons designated in such order.Thereupon, the Depositary shall direct the Custodian to Deliver (without unreasonabledelay) at the designated office of the Custodian or through a book-entry delivery of the Shares (in either case subject to the terms andconditions of the Deposit Agreement, to the Memorandum and Articles of Association, and to the provisions of or governing the the terms hereof, and shall, at the discretion of the Depositary and subject to the Company issuing in the name of the Depositary anyremaining fractional Share, either (i) cause ownership of such remaining fractional Share to be Delivered in accordance with the termshereof,(ii)issue and Deliver to the person surrendering such Receipt a new Receipt evidencing American Depositary Sharesrepresenting any number of Shares and any remaining fractional Share authorized by this Agreement, or (iii)sell or cause to be soldthe fractional Shares represented by the Receipt so surrendered and remit the proceeds thereof (net of (a)applicable fees and chargesof, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the D