1.Product Overview
According to the "Opinions on Launching Pilot Programs for Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises" issued by the China Securities Regulatory Commission (CSRC) in 2018, innovative red-chip companies that align with national strategies, possess core technologies, and are widely recognized in the market can issue China Depositary Receipts (DRs) within China without restructuring their original red-chip framework. These companies typically belong to high-tech and strategically emerging industries such as the internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing, and biopharmaceuticals.
In 2022, the CSRC released the "Regulations on Cross-Border Depositary Receipts Business Connectivity between Domestic and Overseas Stock Exchanges," allowing eligible foreign issuers of underlying securities listed on overseas stock exchanges to issue China Depositary Receipts in China and list them on the main board of domestic stock exchanges.
China Depositary Receipts, as defined by these regulations, are securities issued by a depositary, based on foreign securities, representing the rights and interests of the underlying foreign securities and issued within China.

2.Target Clients
Companies intending to issue China Depositary Receipts (CDRs) on domestic stock exchanges.

3.Services Provided
1.Open dedicated accounts for depositary services and accounts for unconfirmed holders' securities, among other related accounts.
2.Assist in user application and testing with systems like the China Securities Depository and Clearing Corporation and the exchange's network voting system.
3.Arrange custody of underlying assets of Depositary Receipts and assist in the delivery of underlying foreign securities.
4.Assist in the issuance and listing of Depositary Receipts.
5.Assist clients with regulatory communication regarding special matters.
6.Provide currency conversion and foreign exchange settlement services.
7.Maintain the register of holders.
8.Send notifications and related documents to holders, assist in convening shareholders' meetings, exercise voting rights as per holders' instructions, and distribute dividends.
9.Issue or cancel the corresponding China Depositary Receipts as per relevant regulations and the depositary agreement.
10.Provide other services as stipulated by laws and regulations and the CSRC, as well as personalized requests from depositary clients.

4.Service Advantages
ICBC is the first commercial banks to provide depositary services and is currently the only commercial bank in the market offering these services with practical operational experience. ICBC has developed an independently operated depositary business system according to international standards, which is completely separate from its custody business system, meeting both daily operational and client-specific needs. Leveraging its extensive global network and financial service capabilities, ICBC provides comprehensive financial services to issuers, including depositary services, custody services, account services, and foreign exchange settlement services.

5.Contact Information
For assistance with related services, please contact the Global Asset Custody Division of the Asset Custody Department at the Industrial and Commercial Bank of China (ICBC):
Contact Person: Xiaomeng Liu
Tel: +86 10 6610 5692
E-mail: xiaomeng.liu@icbc.com.cn