Article 11　An Information Disclosure Obligor shall calculate the shares held by him and the shares controlled by him in the same listed company collectively. (来源：老牌的英语学习网站 http://www.EnglishCN.com)

　　An Information Disclosure Obligor that holds or controls any issued convertible corporate bonds of a listed company shall， during the period when the convertible corporate bonds are convertible， calculate the shares that he is entitled to convert and the shares held or controlled by him in the same listed company collectively.

　　PART THREE　CHANGE OF SHAREHOLDINGS REPORT AND ANNOUNCEMENT

　　Article 12　Where an Information Disclosure Obligor performs his information disclosure obligations in accordance with the provisions hereof， he shall submit a Change of Shareholdings in Listed Company Report （a Change of Shareholdings Report） to the stock exchange.

　　The obligor referred to in the preceding paragraph shall， at the same time as he submits the Change of Shareholdings Report， submit the same to the CSRC and the duplicates thereof to the CSRC agency at the place where the listed company is located， notify the listed company and make an announcement.

　　The contents and format of a Change of Shareholdings Report shall be stipulated by the CSRC separately.

　　Article 13　Where there are more than one Information Disclosure Obligor， they may agree in writing on one of them to be responsible for the overall preparation of the Change of Shareholdings Report provided that each Information Disclosure Obligor signs and affixes his seal on the Change of Shareholdings Report.

　　Each Information Disclosure Obligor shall assume liability for the information concerning himself in the Change of Shareholdings Report. With regard to the information in the Change of Shareholdings Report concerning more than one Information Disclosure Obligor， each Information Disclosure Obligor shall assume joint and several liability for the relevant parts.

　　Article 14　A Change of Shareholdings Report shall contain the following particulars：

　　1. the name and domicile of the Information Disclosure Obligor；

　　2. the name of the listed company；

　　3. the change in the shares held or controlled by the Information Disclosure Obligor；

　　4. the manner in which the Change of Shareholdings is carried out；

　　5. the transactions in relation to the shares in the listed company carried out by the Information Disclosure Obligor during the last six months； and

　　6. other matters that the CSRC or the stock exchange requires to be included.

　　Article 15　When an investor holds or controls up to 5% of the issued shares of a listed company， the investor shall， in accordance with the provisions hereof， perform information disclosure obligations and submit a Change of Shareholdings Report within three working days of the date of occurrence of such fact.

　　During the time period specified above， the investor may not buy or sell the shares in the listed company again.

　　Article 16　Where an investor anticipates that the issued shares of a listed company he holds or controls will exceed 5%， he shall， in accordance with the provisions hereof， perform information disclosure obligations and submit a Change of Shareholdings Report.

　　Before an announcement is made thereof， the investor may not buy or sell the shares in the listed company again.

　　Article 17　An Information Disclosure Obligor that holds or controls more than 5% of the issued shares in a listed company shall， every time when a Change of Shareholdings reaches 5%， submit a Change of Shareholdings Report within three working days of the date of the occurrence of such fact.

　　From the date on which reporting obligation arises to two workings after an announcement is made， the Information Disclosure Obligor may not buy or sell the shares in the listed company again.

　　Article 18　If an Information Disclosure Obligor that holds or controls more than 5% of the issued shares in a listed company anticipates a Change of Shareholdings of more than 5% in the issued shares of the listed company， he shall submit a Change of Shareholdings Report.

　　From the date on which reporting obligation arises to two working days after an announcement is made， the Information Disclosure Obligor may not buy or sell the shares in the listed company again.

　　Article 19　If a Change of Shareholdings in relation to an Information Disclosure Obligor is less than 5% but results in the shares held or controlled by him falling below 5% of the issued shares in the listed company， the Information Disclosure Obligor shall make an announcement within three working days of the occurrence of such fact and is exempt from submitting a Change of Shareholdings Report.

　　Article 20　If a purchaser gains or possibly gains actual control of a listed company as a result of a Change of Shareholdings， he shall， in accordance with provisions of the Administration of the Takeover of Listed Companies Procedures， submit a listed company takeover report to the CSRC and the duplicates thereof to the CSRC agency at the place where the listed company is located and the stock exchange， notify the listed company and make an announcement.