Common use of Operating and Financial Review and Prospect Clause in Contracts

Operating and Financial Review and Prospect. The section entitled “Financial Information—Critical Accounting Policies, Judgments and Estimates” included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus truly, accurately and fairly describes in all material respects: (A) the accounting policies that the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (B) the material judgments and uncertainties affecting the application of Critical Accounting Policies, and estimates; (C) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereof; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus accurately and fully describes: (A) all material trends, demands, commitments and events known to the Company, and, uncertainties, and the potential effects thereof, that the Company believes would materially affect its liquidity and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if any, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group Entities, or the availability thereof or the requirements of the Company or the Group Entities for capital resources.

Operating and Financial Review and Prospect. The section sections entitled “Operating and Financial Information—Critical Accounting PoliciesReview and Prospect” and “Certain Financial Data” (collectively, Judgments and Estimates” the “MD&A”) included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus truly, accurately and fairly describes completely in all material respectsrespects describes: (A) the accounting policies that which the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that which require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (B) the material judgments and uncertainties affecting the application of Critical Accounting Policies, Policies and estimates; (C) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereofassumptions; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus MD&A accurately and fully describes: (A) all material trends, demands, commitments commitments, events, uncertainties and events known to the Company, and, uncertaintiesrisks, and the potential effects thereof, that the Company believes would materially affect its liquidity liquidity, financial condition or results of operations of the Company, and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if any, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group Entities, or the availability thereof or the requirements of the Company or the Group Entities for capital resources.

Operating and Financial Review and Prospect. The section entitled “Operating and Financial Information—Critical Accounting Policies, Judgments Review and EstimatesProspect” (the “MD&A”) included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package Time of Sale Information and the Prospectus truly, accurately and fairly describes completely in all material respectsrespects describes: (Ai) the accounting policies that which the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that which require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (Bii) the material judgments and uncertainties affecting the application of Critical Accounting Policies, ; and estimates; (Ciii) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereofassumptions; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus MD&A accurately and fully describes: (A) all material trends, demands, commitments commitments, events, uncertainties and events known to the Company, and, uncertaintiesrisks, and the potential effects thereof, that the Company believes would materially affect its liquidity liquidity, financial condition or results of operations of the Company, and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if any, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group Entities, or the availability thereof or the requirements of the Company or the Group Entities for capital resources.

Operating and Financial Review and Prospect. The section sections entitled “Operating and Financial Information—Critical Accounting PoliciesReview and Prospects” and “Certain Financial Data” (collectively, Judgments and Estimates” the “MD&A”) included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus Documents truly, accurately and fairly describes completely in all material respectsrespects describes: (A) the accounting policies that which the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that which require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (B) the material judgments and uncertainties affecting the application of Critical Accounting Policies, Policies and estimates; (C) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereofassumptions; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus MD&A accurately and fully describes: (A) all material trends, demands, commitments commitments, events, uncertainties and events known to the Company, and, uncertaintiesrisks, and the potential effects thereof, that the Company believes would materially affect its liquidity liquidity, financial condition or results of operations of the Company, and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if anySubsidiaries, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group EntitiesSubsidiaries, or the availability thereof or the requirements of the Company or the Group Entities Subsidiaries for capital resources.. All governmental tax waivers from national and local governments of the PRC and other local and national PRC tax relief, concession and preferential treatment or obtained by the Company or the Subsidiaries are valid, binding and enforceable;

Operating and Financial Review and Prospect. The section entitled “Operating and Financial Information—Critical Accounting Policies, Judgments Review and EstimatesProspect” (the “MD&A”) included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package Time of Sale Information and the Prospectus truly, accurately and fairly describes completely in all material respectsrespects describes: (Ai) the accounting policies that which the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that which require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (Bii) the material judgments and uncertainties affecting the application of Critical Accounting Policies, ; and estimates; (Ciii) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereofassumptions; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s its legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus MD&A accurately and fully describes: (A) all material trends, demands, commitments commitments, events, uncertainties and events known to the Company, and, uncertaintiesrisks, and the potential effects thereof, that the Company believes would materially affect its liquidity liquidity, financial condition or results of operations of the Company, and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if any, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group Entities, or the availability thereof or the requirements of the Company or the Group Entities for capital resources.

Operating and Financial Review and Prospect. The section sections entitled “Operating and Financial Information—Critical Accounting PoliciesReview and Prospect” and “Certain Financial Data” (collectively, Judgments and Estimates” the “MD&A”) included or incorporated by reference in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus truly, accurately and fairly describes in all material respectscompletely describes: (A) the accounting policies that which the Company believes are the most important in the portrayal of the Company’s financial condition and results of operations and that which require management’s most difficult, subjective or complex judgments (“Critical Accounting Policies”); (B) the material judgments and uncertainties affecting the application of Critical Accounting Policies, Policies and estimates; (C) the likelihood that materially different amounts would be reported under different conditions or using different assumptions and an explanation thereofassumptions; and the Company’s board of directors and management have reviewed and agreed with the selection, application and disclosure of Critical Accounting Policies and have consulted with the Company’s legal counsel and independent public accountants with regard to such disclosure. The section entitled “Financial Information” in the Hong Kong Public Offering Documents, the Registration Statement, the Disclosure Package and the Prospectus MD&A accurately and fully describes: (A) all material trends, demands, commitments commitments, events, uncertainties and events known to the Company, and, uncertaintiesrisks, and the potential effects thereof, that the Company believes would materially affect its liquidity liquidity, financial condition or results of operations of the Company, and are reasonably likely to occur; and (B) all off-balance sheet transactions, arrangements, and obligations, including, without limitation, relationships with unconsolidated entities that are contractually limited to narrow activities that facilitate the transfer of or access to assets by the Company or the Group Entities, if any, such as structured finance entities and special purpose entities (collectively, “off-balance sheet arrangements”) that are reasonably likely to have a material effect on the liquidity of the Company or the Group Entities, or the availability thereof or the requirements of the Company or the Group Entities for capital resources.