EX-4 3 e23114ex_4.txt OPINION OF COUNSEL FOR THE DEPOSITORY Exhibit 4 --------- EMMET, MARVIN & MARTIN, LLP 177 MADISON AVENUE COUNSELLORS AT LAW MORRISTOWN, NEW JERSEY 07960 ----- (973) 538-5600 120 Broadway FAX: (973) 538-6448 New York, New York 10271 ----- ----- 1007 ORANGE STREET, SUITE 1460 Writer's Direct Dial (212) 238-3000 WILMINGTON, DELAWARE 19801 (212) 653-1760 (302) 472-7000 ----- FAX: (302) 472-7120 Fax: (212) 238-3100 ----- Fax: (212) 653-1730 1351 WASHINGTON BOULEVARD http://www.emmetmarvin.com STAMFORD, CONNECTICUT 06902-4543 (203) 425-1400 FAX: (203) 425-1410
December 30, 2005 The Bank of New York, as Depositary 101 Barclay Street New York, New York, 10286 Re: American Depositary Receipts for Ordinary Shares of Tingyi (Cayman Islands) Holding Corp. ------------------------------------------------------------------ Ladies and Gentlemen: We refer to the registration statement to be filed on Form F-6 under the Securities Act of 1933 (the "Registration Statement") by the legal entity created by the agreement (the "Deposit Agreement") for issuance of American Depositary Shares ("ADSs") evidenced by American Depositary Receipts ("ADRs") for ordinary shares of Tingyi (Cayman Islands) Holding Corp. for which you propose to act as Depositary. We are of the opinion that the ADSs covered by the Registration Statement, when issued in accordance with the terms of the Deposit Agreement, will, when sold, be legally issued and will entitle the holders thereof to the rights specified in the Deposit Agreement and the ADRs. This opinion may be used by you as an exhibit to the Registration Statement. Very truly yours, /s/ Emmet, Marvin & Martin, LLP ------------------------------- EMMET, MARVIN & MARTIN, LLP