【正文】 l be deducted from the book balance of distributable profit and/or from the proceeds of a fresh share issue made to buy back the old shares。 （一） 公司以面值價(jià)格購回股份的，其款項(xiàng)應(yīng)當(dāng)從公司的可分配利潤帳面余額、為購回舊股而發(fā)行的新股所得中減除； (2) where the Company buy backs shares at a price higher than their par value, the portion corresponding to their par value shall be deducted from the book balance of distributable profit and/or from the proceeds of a fresh share issue made to buy back the old shares。s registered capital shall be reduced by the total par value of the shares cancelled. 被注銷股份的票面總值應(yīng)當(dāng)從公司的注冊資本中核減。 Article 27: After the Company has bought back its shares according to law, it shall cancel the portion of shares concerned within the period prescribed by laws and administrative regulations and shall apply to the original pany registry for registration of the change in registered capital. 第二十七條 公司依法購回股份后，應(yīng)當(dāng)在法律、行政法規(guī)規(guī)定的期限內(nèi)，注銷該部分股份，并向原公司登記機(jī)關(guān)申請辦理注冊資本變更登記。 For the purposes of the above paragraph, contracts for the buyback of shares shall include (but not limited to) agreements whereby buyback obligations are undertaken and buyback rights are acquired. 前款所稱購回股份的合同，包括（但不限于）同意承擔(dān)購回股份義務(wù)和取得購回股份權(quán)利的協(xié)議。 general meeting obtained in the same manner, the Company may rescind or change contracts concluded in the manner set forth above or waive any of its rights under such contracts. 第二十六條 公司在證券交易 所外以協(xié)議方式購回股份時(shí)，應(yīng)當(dāng)事先經(jīng)股東大會按公司章的規(guī)定批準(zhǔn)。 general meeting in accordance with the procedures provided for in the Company39。 (2) buyback through open transactions on a securities exchange。 Article 25: After the Company is approved by relevant State authorities to buy back its own shares, it may proceed in any of the following manners: 第二十五條 公司經(jīng)國家有關(guān)主管機(jī)構(gòu)批準(zhǔn)購回股份，可以下列方式之一進(jìn)行： (1) making of a buyback offer in the same proportion to all shareholders。 （一） 為減少公司資本而注銷股份； (2) merger with another pany holding shares in the Company。 The reduced registered capital of the Company may not be less than the statutory minimum. 公司減少資本后的注冊資本，不得低于法定的最低限額。 The Company shall notify its creditors within 10 days of adopting the resolution to reduce its registered capital and shall publish a public announcement of the resolution in newspapers at least three times within 30 days of the said date. Creditors shall, within 30 days of receiving a written notice or within 90 days of the date of the first public announcement for those who have not received a written notice, be entitled to require the Company to pay its debts in full or to provide a corresponding guarantee for repayment. 公司應(yīng)當(dāng)自作出減少注冊資本決議之日起十日內(nèi)通知債權(quán)人，并于三十日內(nèi)在報(bào)紙上至少公告三次。 PART FOUR: REDUCTION OF CAPITAL AND BUYBACK OF SHARES 第四章 減資和購回股份 Article 22: The Company may reduce its registered capital in accordance with the provisions of its Articles of Association. 第二十二條 根據(jù)公司章程的規(guī)定，公司可以減少其注冊資本。s increase of its capital by issuing new shares shall be handled in accordance with the procedures provided for in relevant State laws and administrative regulations after having been approved in accordance with the Articles of Association. 公司增資發(fā)行新股，按照公司章程的規(guī)定批準(zhǔn)后，根據(jù)國家有關(guān)法律、行政法規(guī)規(guī)定的程序辦理。 and （三） 向現(xiàn)有股東派送新股； (4) other methods permitted by laws and administrative regulations. （四） 法律、行政法規(guī)許可的其他方式。 （一） 向非特定投資人募集新股； (2) rights issue to existing shareholders。 Article 20: The Company may approve capital increases depending on its business and development requirements in accordance with the relevant provisions of the Articles of Association of the Company. 第二十條 公司根據(jù)經(jīng)營和發(fā)展的需要，可以按照公司章程的有關(guān)規(guī)定批準(zhǔn)增加資本。s Republic of China and domestic investment shares separately within the total number of shares specified in the issue plan, every such issue shall be fully subscribed for in one time. Where special circumstances make it impossible for every such issue to be fully subscribed for at one time, the shares may be issued in several stages, subject to the approval of the State Council Securities Commission. 第十八條 公司在發(fā)行計(jì)劃確定的股份總數(shù)內(nèi)，分別發(fā)行境外上市外資股和內(nèi)資股的，應(yīng)當(dāng)分別一次募足；有特殊情況不能一次募足的，經(jīng)國務(wù)院證券委員會批準(zhǔn)，也可以分次發(fā)行。s Republic of China and domestic investment shares in accordance with the preceding paragraph may be implemented separately within 15 months of being approved by the State Council Securities Commission. 公司依照前款規(guī)定分別發(fā)行境外上市外資股和內(nèi)資股的計(jì)劃，可以自國務(wù)院證券委員會批準(zhǔn)之日起 15個(gè)月內(nèi)分別實(shí)施。 The Company39。 Article 17: After the plan for issuing foreign investment shares listed outside the People39。s share capital shall be: [number of shares] ordinary shares, of which the sponsors [name of each sponsor] shall hold [number of shares], other holders of domestic investment shares shall hold [number of shares] shares and holders of foreign investment shares listed outside the People39。s Republic of China, accounting for [percentage] percent of the total number of ordinary shares that may be issued by the Company, and [number of shares] domestic investment shares issued to the public. 第十六條 公司成立后發(fā)行普通股〔股份數(shù)額〕股，包括不少于〔股份數(shù)額〕股，不超過〔股 份數(shù)額〕股的境外上市外資股，占公司可發(fā)行的普通股總數(shù)的百分之〔百分比數(shù)〕，以及向社會公眾發(fā)行的〔股份數(shù)額〕股的內(nèi)資股。 Article 15: Following approval of the State Council authorities in charge of securities, the total amount of ordinary shares that the Company may issue is [total number of shares]. The number of shares issued to the sponsors at the time of establishment is [number of shares], representing [percentage] percent of the total number of ordinary shares that may be issued by the Company. 第十五條 經(jīng)國務(wù)院授權(quán)的公司審批部門批準(zhǔn)，公司可以發(fā)行的普通股總數(shù)為〔股份數(shù)額〕股，成立時(shí)向 發(fā)起人發(fā)行〔股份數(shù)額〕股，占公司可發(fā)行的普通股總數(shù)的百分之〔百分比數(shù)〕。公司向境外投資人發(fā)行的以外幣認(rèn)購的股份，稱為外資股。s Republic of China shall be referred to as foreign investment shares listed outside the People39。s Republic of China and to be subscribed for in Renminbi shall be referred to as domestic investment shares. Shares issued by the Company to investors outside the People39。s Republic of China, excluding the abovementioned