华普集团美股招股说明书(2025-06-03版)

representingDEPOSITED CLASS A ORDINARY SHARESofMAASE 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 theDeposit Agreement (hereinafter referred to), each ADS represents 90 Shares deposited under the Deposit Agreement with theCustodian which at the date of execution of the Deposit Agreement is Deutsche Bank AG, Hong Kong Branch (the “Custodian”).Theratio of Depositary Shares to shares of stock is subject to subsequent amendment as provided in Article IV of the Deposit Agreement. The Depositary’s Corporate Trust Office is located at 1 Columbus Circle, New York, New York 10019, U.S.A.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 the Corporate Trust Office of the Depositary and the Custodian.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 DepositAgreement and applicable ADR(s), and necessity and appropriateness thereof).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 not between 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 arrangementsfor the acceptance of the American Depositary Shares into DTC.Each Beneficial Owner of American Depositary Shares held throughDTC must rely on the procedures of DTC and the DTC Participants to exercise and be entitled to any rights attributable to suchAmerican Depositary Shares.The Receipt evidencing the American Depositary Shares held through DTC will be registered in thename of a nominee of DTC.So long as the American Depositary Shares are held through DTC or unless otherwise required by law,ownership of beneficial interests in the Receipt registered in the name of DTC (or its nominee) will be shown on, and transfers of suchownership will be effected only through, records maintained by (i)DTC (or its nominee), or (ii)DTC Participants (or their nominees). surrendered for the purpose of withdrawing Deposited Securities by Delivery of a Receipt evidencing such ADS (if held in registeredform) or by book‑entry delivery of such ADS to the Depositary.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 and evidencing a number of ADSs representing other than a whole number of Shares, the Depositary shall cause ownership of theappropriate whole number of Shares to be Delivered in accordance with the 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 Depositary and (b)taxes and/or governmentalcharges) to the person surrendering the Receipt.At the request, risk