A2: ADR stands for American Depositary Receipt. It is a physical certificate evidencing ownership of American Depositary Shares ("ADSs"). ADS is a U.S. dollar denominated form of equity ownership in a non-U.S. company. It represents the foreign shares of the company held on deposit by a custodian bank in the company's home country and carries the corporate and economic rights of the foreign shares, subject to the terms specified on the ADR certificate.
