Common use of Deposit Services Clause in Contracts

Deposit Services. The internal control measures on the determination of Deposit Interest Rate for the Deposit Services are as follows: 1. Before entering into any deposit arrangements with Shougang Finance, the Group will obtain and review the deposit interest rates for the same type of deposits quoted by at least three other major domestic or overseas commercial banks. 2. The Group will enter into individual agreement(s) with Shougang Finance as and when necessary to ensure that the Deposit Interest Rate of the Deposit Services under the Financial Services Framework Agreement will be no less favourable to the Group than the highest of the deposit interest rates for the same type of deposits quoted by the other major domestic or overseas commercial banks. The internal control measures on monitoring the proposed Daily Deposit Cap in relation to the Deposit Services are as follows: 1. The finance department of the Company will monitor the aggregate amount of funds deposited into the designated accounts of the Group at Shougang Finance together with accrual interest on a daily basis to ensure that the proposed Daily Deposit Cap will not be exceeded. In addition, if the deposits of the Group placed with Shougang Finance are expected to exceed the Daily Deposit Cap, Shougang Finance shall inform the Company in a timely manner and the Group will arrange for the transferring of funds to other deposit accounts of the Group or suspend additional Deposit Services. 2. The finance department of the Company will report to the management of the Company and provide updates on the deposit arrangements with Shougang Finance on a monthly basis. 3. The independent non-executive Directors and auditor of the Company will conduct an annual review with respect to the continuing connected transactions conducted by the Group throughout the preceding financial year (including the transactions relating to the Deposit Services) and will provide annual confirmations pursuant to the requirements under the Listing Rules to ensure that the continuing connected transactions (including the transactions relating to the Deposit Services) are in accordance with the terms of the Financial Services Framework Agreement and other relevant agreements governing such transactions, on normal commercial terms, fair and reasonable, and in accordance with the pricing policies and the proposed Daily Deposit Cap. The credit risk control measures on the Deposit Services are as follows: 1. Shougang Finance, as a non-bank financial institution approved by the NFRA, guarantees that it will strictly comply with the regulatory requirements of the NFRA when conducting its operation and business. 2. Shougang Finance shall provide the Group with its quarterly financial statements and annual audit report for the review by the management of the Company. 3. Shougang Finance shall provide an information system platform to assist with the internal financial management of the Group so that the Group can real-time monitor its accounts and funds. 4. For the purpose of credit assessment, the finance department of the Company will review (i) the financial reports and other statements provided by ▇▇▇▇▇▇▇▇ Finance (as stated in paragraph (2) above) on a regular basis; and (ii) review the credit rating reports on Shougang Group and/or Shougang Finance (if any) published by credit rating agencies recognized by the PBOC from time to time. 5. To ensure that the Group will have sufficient working capital and liquidity for its business operations, the finance department of the Company will monitor the cash position of the Group from time to time and the Group will make withdrawals where necessary from the amount deposited with Shougang Finance under the Deposit Services.

Deposit Services. The internal control measures on the determination of Deposit Interest Rate deposit interest rate for the Deposit Services are as follows: 1. Before entering into any deposit arrangements with Shougang FinanceFinance Company, the Group will obtain and review compare the deposit interest rates for the same type of deposits quoted by at least three other major domestic or overseas commercial banks.; and 2. The Group will enter into individual agreement(s) with Shougang Finance Company as and when necessary to ensure that the Deposit Interest Rate deposit interest rate of the Deposit Services under the Financial Services Framework Agreement will be no less favourable to the Group than the highest of the deposit interest rates for the same type of deposits quoted by the other major domestic or overseas commercial banks. The internal control measures on monitoring the proposed Daily Deposit Cap in relation to the Deposit Services are as follows: 1. The finance department of the Company will monitor the aggregate amount of funds deposited into the designated accounts of the Group at Shougang Finance Company together with accrual interest on a daily basis to ensure that the proposed Daily Deposit Cap will not be exceeded. In addition, if the deposits of the Group placed with Shougang Finance Company are expected to exceed the Daily Deposit Cap, Shougang Finance Company shall inform the Company in a timely manner and the Group will arrange for the transferring of funds to other deposit accounts of the Group or suspend additional Deposit Services.; 2. The finance department of the Company will report to the management of the Company and provide updates on the deposit arrangements with Shougang Finance Company on a monthly basis.; and 3. The independent non-executive Directors and auditor of the Company will conduct an annual review with respect to the continuing connected transactions conducted by the Group throughout the preceding financial year (including the transactions relating to the Deposit Services) and will provide annual confirmations pursuant to the requirements under the Listing Rules to ensure that the continuing connected transactions (including the transactions relating to the Deposit Services) are in accordance with the terms of the Financial Services Framework Agreement and other relevant agreements governing such transactions, on normal commercial terms, fair and reasonable, and in accordance with the pricing policies and the proposed Daily Deposit Cap. The credit risk control measures on the Deposit Services are as follows: 1. Shougang FinanceFinance Company, as a non-bank financial institution approved by the NFRA, guarantees that it will strictly comply with the regulatory requirements of the NFRA when conducting its operation and business.; 2. Shougang Finance Company shall provide the Group with its quarterly financial statements and annual audit report for the review by the management of the Company.; 3. Shougang Finance Company shall provide an information system platform to assist with the internal financial management of the Group so that the Group can real-time monitor its accounts and funds.; 4. For the purpose of credit assessment, the finance department of the Company will review (i) the financial reports and other statements provided by ▇▇▇▇▇▇▇▇ Shougang Finance Company (as stated in paragraph (2) above) on a regular basis; and (ii) review the credit rating reports on Shougang Group and/or Shougang Finance Company (if any) published by credit rating agencies recognized by the PBOC People’s Bank of China from time to time.; and 5. To ensure that the Group will have sufficient working capital and liquidity for its business operations, the finance department of the Company will monitor the cash position of the Group from time to time and the Group will make withdrawals where necessary from the amount deposited with Shougang Finance Company under the Deposit Services.

Deposit Services. The internal control measures on the determination of Deposit Interest Rate deposit interest rate for the Deposit Services are as follows: 1. Before entering into any deposit arrangements with Shougang FinanceFinance Company, the Group will obtain and review compare the deposit interest rates for the same type of deposits quoted by at least three other major domestic or overseas commercial banks.; and 2. The Group will enter into individual agreement(s) with Shougang Finance Company as and when necessary to ensure that the Deposit Interest Rate deposit interest rate of the Deposit Services under the New Financial Services Framework Agreement will be no less favourable to the Group than the highest of the deposit interest rates for the same type of deposits quoted by the other major domestic or overseas commercial banks. The internal control measures on monitoring the proposed Daily Deposit Cap in relation to the Deposit Services are as follows: 1. The finance department of the Company will monitor the aggregate amount of funds deposited into the designated accounts of the Group at Shougang Finance Company together with accrual interest on a daily basis to ensure that the proposed Daily Deposit Cap will not be exceeded. In addition, if the deposits of the Group placed with Shougang Finance Company are expected to exceed the Daily Deposit Cap, Shougang Finance Company shall inform the Company in a timely manner and the Group will arrange for the transferring of funds to other deposit accounts of the Group or suspend additional Deposit Services.; 2. The finance department of the Company will report to the management of the Company and provide updates on the deposit arrangements with Shougang Finance Company on a monthly basis.; and 3. The independent non-executive Directors and auditor of the Company will conduct an annual review with respect to the continuing connected transactions conducted by the Group throughout the preceding financial year (including the transactions relating to the Deposit Services) and will provide annual confirmations pursuant to the requirements under the Listing Rules to ensure that the continuing connected transactions (including the transactions relating to the Deposit Services) are in accordance with the terms of the New Financial Services Framework Agreement and other relevant agreements governing such transactions, on normal commercial terms, fair and reasonable, and in accordance with the pricing policies and the proposed Daily Deposit Cap. The credit risk control measures on the Deposit Services are as follows: 1. Shougang FinanceFinance Company, as a non-bank financial institution approved by the NFRA, guarantees that it will strictly comply with the regulatory requirements of the NFRA when conducting its operation and business.; 2. Shougang Finance Company shall provide the Group with its quarterly financial statements and annual audit report for the review by the management of the Company.; 3. Shougang Finance Company shall provide an information system platform to assist with the internal financial management of the Group so that the Group can real-time monitor its accounts and funds.; 4. For the purpose of credit assessment, the finance department of the Company will review (i) review the financial reports and other statements provided by ▇▇▇▇▇▇▇▇ Shougang Finance Company (as stated in paragraph (2) above) on a regular basis; and (ii) review the credit rating reports on Shougang Group and/or Shougang Finance Company (if any) published by credit rating agencies recognized by the PBOC People’s Bank of China from time to time.; and 5. To ensure that the Group will have sufficient working capital and liquidity for its business operations, the finance department of the Company will monitor the cash position of the Group from time to time and the Group will make withdrawals where necessary from the amount deposited with Shougang Finance Company under the Deposit Services.