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Therefore, there could be no assurance that our control over our consolidated VIE via VIE Arrangements is not going to be deemed as foreign investment in the future. Although we don't intend to rely on the "controlled company" exemption beneath the Nasdaq listing rules, we could elect to depend on this exemption in the future. Our administrators and officers beneficially personal a majority of the voting power of our outstanding Class A Ordinary Shares. However, it has a catch-all provision beneath definition of "foreign investment" that includes investments made by foreign traders in China through other means as provided by legal guidelines, administrative rules or the State Council. Therefore it still leaves leeway for future laws, administrative laws or provisions of the State Council to supply for VIE Arrangements as a form of foreign funding.

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