as prevailing market conditions. However, we do not expect the gains and losses in the values of these investments to have a material  impact on our financial condition and results of operations. Not applicable  Not applicable  Not applicable  Under the terms of the deposit agreement for our ADSs, an ADS holder may have to pay the following service fees to the  depositary: In addition, an ADS holder shall be responsible for the following charges:  Depositary fees payable upon the issuance and cancellation of ADSs are typically paid to the depositary by the brokers (on  behalf of their clients) receiving the newly-issued ADSs from the depositary and by the brokers (on behalf of their clients) delivering  the ADSs to the depositary for cancellation. The brokers in turn charge these transaction fees to their clients.  123 P AR T I Depositary Charges C. Other Securities B. Warrants and Rights ITEM 12.  DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES  A. Debt Securities D. American Depositary Shares Depositary Fees ●  the fees and expenses incurred by the depositary, the custodian or any nominee in connection with the servicing or delivery of  deposited securities.  ●  the expenses and charges incurred by the depositary in the conversion of foreign currency; and  ●  such cable, telex and facsimile transmission and delivery expenses as are expressly provided in the deposit agreement to be at  the expense of ADS holders and beneficial owners of ADSs;  ●  such registration fees as may from time to time be in effect for the registration of common shares or other deposited securities  on the share register and applicable to transfers of common shares or other deposited securities to or from the name of the  custodian, the depositary or any nominees upon the making of deposits and withdrawals, respectively;  ●  taxes (including applicable interest and penalties) and other governmental charges;  Service Fees Issuance of ADSs Up to US$5.00 per 100 ADS issued Cancellation of ADSs Up to US$5.00 per 100 ADS cancelled Distribution of cash dividends or other cash distributions Up to US$2.00 per 100 ADS held Distribution of ADSs pursuant to stock dividends, free stock distributions or exercises of rights Up to US$5.00 per 100 ADS held Distribution of securities other than ADSs or rights to purchase additional ADSs Up to US$5.00 per 100 ADS held