Exhibit
10.9

 


China Construction Bank


RMB Credit Line Loan Agreement


[Unofficial English Translation]


 


Agreement No.: H TZ442000000C N ED 201900005


 


The Borrower (Party A): United Time Technology
Co., Ltd.


 


Address: 7/F, Block A, Building 5, Software
Industry Base, Nanshan District, Shenzhen City


 


Postal Code: 518000


 


Legal Representative (Person in Charge):
Bao Minfei


 


Fax:/1


 


Tel: 0755-86512180


 


The Lender (Party B): Shenzhen Branch of
China Construction Bank Corporation


 


Address: Block A, Rongchao Business Center,
No.6003 Yitian Road, Futian District, Shenzhen City


 


Postal Code: 518026


 


Person in Charge: Wang Ye


 


Fax: 0755-23828111


 


Tel: 0755-23828888


 


 








 



1
Not Applicable.







 




    Page 1 of 21


     


    

  


China Construction Bank


 


In view of daily
capital turnover and purchase of raw materials, Party A applies to Party B for line loan, and Party B agrees to provide credit
line loan to Party A. According to relevant laws, regulations and rules, Party A and Party B hereby enter into this agreement (the
“Agreement”) through consultation for mutual compliance.


 


Article 1 Credit Line


 


The credit line provided
by Party B to Party A is RMB 15,000,000 (in words: Fifteen Million Yuan).


 


The term “Credit
Line” as used in this Agreement refers to the limit of the principal balance of the working capital loan provided by Party
B to Party A within the valid period of credit line agreed in this Agreement. Party A can recycle the credit line during the validity
period of it. Party A can apply for loan continuously provided that the outstanding principal balance of the loan under this Agreement
of Party A does not exceed the credit line regardless of the load times and the amount of each loan, however, the sum of the loan
amount applied by Party A and the outstanding principal balance of the loan under this Agreement shall not exceed the credit line.


 


Article 2 Purpose of Loan and Source
of Repayment


 


Party A shall use
the loan for daily production and operation turnover.


 


For the specific purposes
of the loan and the source of repayment under this Agreement, please refer to Annex 1 “Basic Information of the Loan”.


 


Article 3 Valid Period of Credit Line


 


The effective period
of the credit line is from April 23, 2019 to April 9, 2020 (hereinafter referred to as “valid period of credit line”).
For a single loan occurring during the valid period of credit line, the expiration date of the performance period is not subject
to the limitation of whether the valid period of credit line expires, however, unless otherwise agreed by Party B, the expiration
date of the performance period of a single loan shall not exceed 6 months after the expiration date of the valid period of credit
line.


 


The undisbursed credit
line will automatically become invalid upon the valid period of credit line expires.


 


Single loan term refers
to the period from the withdrawal date of single loan to the agreed repayment date.


 


Loan disbursement
refers to the behavior of Party B to release the loan to the loan issuing account according to the application of Party A and the
agreement of this Agreement.


 


Article 4 Use of Credit Line


 


I. During the valid
period of credit line, Party A can apply for loans one by one as needed, and both parties shall go through corresponding procedures.
The amount, interest rate, term and purpose of each loan shall be subject to the contents of the withdrawal notice of the credit
line loan.


 




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II. If the Guarantee
performs the guarantee liabilities under the guarantee Agreement, Party B shall deduct the principal of the credit line correspondingly
according to the principal amount of the guarantee liabilities already performed by the Guarantee.


 


III. For each application
of Party A, its amount shall not be less than /,2
and its period shall not be shorter than /3 day or
longer than 12 months.


 


Article 5 Loan Interest Rate, Penalty
Interest Rate, Interest-Bearing and Interest Settlement


 


I. Loan Interest Rate


 


The loan interest
rate of a single loan under this Agreement is the annual interest rate, and which is the following type /:4


 


(I) Fixed interest
rate, i.e./%,5 which will remain unchanged during
the loan term;


 


(II) Fixed interest
rate, i.e. the benchmark interest rate on the value date blank6
(optional “floating up” or “floating down”) /%7,
which will remain unchanged during the loan term;


 


(III) Fixed interest
rate, i.e. the LPR interest rate blank8 (optional
“plus” or “minus”) /9 base
point (1 basis point = 0.01%, accurate to 0.01 basis point), which will remain unchanged during the loan term;


 


(IV) Floating interest
rate, i.e. the benchmark interest rate on the value date blank10
(select “floating up” or “floating down”) /11%,
and which is adjusted once every/month from the value date to the date when the principal and interest of this loan are
fully paid off according to the benchmark interest rate on the date of interest rate adjustment and the above-mentioned floating
up / down ratio. The interest rate adjustment date is the corresponding date of the value date in the current month of adjustment.
If there is no corresponding date of the value date in the current month, the last day of the current month shall be the interest
rate adjustment date;


 


(V) Floating interest
rate, i.e. the LPR interest rate blank12 (optional
“plus” or “minus”) /13
base point (1 basis point = 0.01%, accurate to 0.01 basis point), and which is adjusted once every/14month
from the value date to the date when the principal and interest of this loan are fully paid off according to the LPR interest rate
of the working day before the interest rate adjustment date and the above-mentioned plus/minus basis points. The interest rate
adjustment date is the corresponding date of the value date in the current month of adjustment. If there is no corresponding date
of the value date in the current month, the last day of the current month is the interest rate adjustment date.


 


 





 



2
Intentionally left blank in the agreement, not applicable.


3
Intentionally left blank in the agreement, not applicable.


4
Intentionally left blank in the agreement. The loan interest rate was subsequently specified in the Notice of Withdrawal dated
May 10, 2019, which is provided as Annex 5 at the end of this exhibit.


5
Intentionally left blank in the agreement, not applicable.


6
Intentionally left blank in the agreement, not applicable.


7
Intentionally left blank in the agreement, not applicable.


8
Intentionally left blank in the agreement, not applicable.


9
Intentionally left blank in the agreement, not applicable.


10
Intentionally left blank in the agreement, not applicable.


11
Intentionally left blank in the agreement, not applicable.


12
Intentionally left blank in the agreement, not applicable.


13
Intentionally left blank in the agreement, not applicable.


14
Intentionally left blank in the agreement, not applicable.


 




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II. Penalty Interest
Rate


 


The penalty interest
rate for a single loan under this Agreement shall be determined in accordance with the following provisions:


 


(I) If Party A fails
to use the loan for the purpose of the Agreement, the penalty interest rate shall be 100% higher than the loan interest rate, if
the loan interest rate is adjusted in accordance with the first paragraph of this article, the penalty interest rate shall be adjusted
in accordance with the adjusted loan interest rate and the above-mentioned floating-up range.


 


(II) The penalty interest
rate for overdue loans under this Agreement shall be 50% higher than the loan interest rate. If the loan interest rate is
adjusted in accordance with the first paragraph of this article, the penalty interest rate shall be adjusted in accordance with
the adjusted loan interest rate and the above-mentioned floating-up range.


 


(III) For loans that
are overdue and misappropriated at the same time, the penalty interest and compound interest shall be calculated based on the more
serious one.


 


III. In the case of
a single loan disbursement, both parties may separately agree on the loan interest rate and penalty interest rate of the loan in
the loan withdrawal notice, or choose to apply the loan interest rate and penalty interest rate agreed in this Agreement, and Party
B has the right to refuse to issue the loan on condition that both parties are unable to reach an agreement.


 


IV. If the loan interest
rate or penalty interest rate stipulated in this Article is inconsistent with the agreement on the loan withdrawal notice, the
agreement on the loan withdrawal notice shall prevail.


 


V. The value date
mentioned in this article refers to the date when a single loan is transferred to the loan issuing account (hereinafter referred
to as the “loan issuing account”) as stipulated in Article 8 of this Agreement.


 


VI. The benchmark
interest rate and LPR interest rate are explained as follows:


 


(I) The benchmark interest
rate mentioned in this article refers to the loan interest rate of the same grade published and implemented by the People’s Bank
of China in the same period; If the People’s Bank of China no longer publishes the loan interest rate of the same grade in the
same period, the LPR interest rate will be applied.


 


(II) The LPR interest
rate under this Agreement shall be determined according to the following item blank15
:


 


1. LPR interest rate
refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day before the effective date of
this Agreement (CCB LPR) ; thereafter, when the loan interest rate is adjusted according to the aforesaid agreement, LPR interest
rate refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day prior to the adjustment
date.


 


2. LPR interest rate
refers to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. (CCB LPR) on the working day before the value date
of a single loan, thereafter, when the loan interest rate is adjusted according to the aforesaid agreement, LPR interest rate refers
to the one-year RMB loan prime rate of China Construction Bank Co., Ltd. on the working day prior to the adjustment date.


 


 





 



15
Intentionally left blank in the agreement, see more information in Article 13(IV) below.


 




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3. LPR interest rate
refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding Center on the working day before the effective
date of this Agreement (market LPR); thereafter, when the loan interest rate is adjusted according to the aforesaid agreement,
LPR interest rate refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding Center on the working
day prior to the adjustment date.


 


4. LPR interest rate
refers to the one-year RMB loan prime rate announced by the National Inter-Bank Funding Center on the working day before the value
date of a single loan (market LPR); thereafter, when the loan interest rate is adjusted according to the aforesaid agreement, LPR
interest rate refers to the one-year RMB loan prime rate published by the National Inter-Bank Funding Center on the working day
prior to the adjustment date.


 


VII. The loan interest
shall be calculated from the date when the loan is transferred to the loan issuing account. The loan bears interest on a daily
basis, and the daily interest rate = annual interest rate/360. If Party A fails to pay interest according to the expiry date for
interest agreed in this Agreement, the compound interest shall be calculated and collected from the next day.


 


VIII. Interest Settlement


 


(I) For loans with
fixed interest rate, the interest shall be calculated at the agreed interest rate at the time of interest settlement. For loans
with floating interest rate, interest shall be calculated according to the interest rate determined in the current period of each
floating period; If there are multiple interest rate fluctuations in a single interest settlement period, the interest in each
floating period shall be calculated first, and the interest in that interest settlement period shall be calculated by summing up
the interest in each floating period on the expiry date for interest.


 


(II) The interest of
the loan under this Agreement shall be settled in the following method of item 1:


 


1. The interest shall
be settled on a monthly basis, and the settlement date for interest shall be fixed as the 20th day of each month;


 


2. The interest shall
be settled quarterly, and the expiry date for interest shall be fixed as the 20th day of the month at the end of each quarter;


 


3. /16


 


Article 6 Commitment Fee of the Loan
Line


 


Party A shall, within
/17 working days after the signing of this
Agreement, pay Party B the commitment fee of the loan line /18
( in words: ).


 


Article 7 Issuance and Payment of Loans


 


1. Application for
the disbursement of credit line loan


 


Party A shall submit
the disbursing application for the credit line loan to Party B in advance at the time of disbursing the credit line loan. If the
single loan exceeds /19 Yuan, Party A shall
submit the disbursing application for the credit line loan /20
working days in advance. Party B shall decide whether to issue the loan to Party A within /21
working days after receiving the disbursing application for the credit line loan submitted by Party A.


 


 





 



16
Intentionally left blank in the agreement, not applicable.


17
Intentionally left blank in the agreement, not applicable.


18
Intentionally left blank in the agreement, not applicable.


19
Intentionally left blank in the agreement, not applicable as the Lender did not require the Borrower to submit a written application
before the disbursement of the loan.


20
Intentionally left blank in the agreement, not applicable for the reason stated in footnote 16.


21
Intentionally left blank in the agreement, not applicable for the reason stated in footnote 16. 


 





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II. Preconditions
for Issuing Loans


 


Unless Party B waives
in whole or in part, Party B is obliged to issue the loan only if all the following preconditions are continuously met:


 


1. Party A has completed
the approval, registration, delivery, insurance and other legal procedures related to the loan under this Agreement;


 


2. If there is any
guarantee in this Agreement, the guarantee meeting the requirements of Party B have come into effect and continue to be valid;


 


3. Party A has opened
an account for withdrawal and repayment as required by Party B;


 


4. Party B has received
the disbursing application for the credit line loan from Party A, and which has examined and approved by Party B;


 


5. If the Agreement
stipulates that Party A shall pay the commitment fee of the loan line to Party B, Party A has already paid the commitment fee of
the loan line to Party B in full and on time in accordance with the Agreement;


 


6. Party A has not
committed any breach of Agreement as agreed in this Agreement;


 


7. There is no circumstance
that may endanger the creditor’s rights of Party B stipulated in this Agreement;


 


8. Laws and regulations,
rules or authorities do not prohibit or restrict Party B from issuing loans under this Agreement;


 


9. The financial indicators
of Party A continue to meet the requirements of Annex 2 “Financial Indicator Constraints”;


 


10. Party A has submitted
relevant materials before the loan issuance in accordance with this Agreement;


 


11. The materials provided
by Party A to Party B is legal, true, complete, accurate and effective, and meets other requirements put forward by Party B;


 


12. Other preconditions:


 


/22


 


III. Materials to
be provided by Party A


 


Party A and Party
B choose to apply the following item (I) [optional (I) or (II)] on the materials provided by Party A:


 


(I)


 


 





 



22
Intentionally left blank in the agreement, not applicable.


 




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1. Provided that only
the following conditions (1) are met:


 


(1) The disbursement
amount of a single loan is more than RMB 10 million and any planned external payment amount under this disbursement is more
than RMB 10 million;


 


(2) /23


 


Party A shall provide
Party B with the following materials no later than /24
working days before the disbursement of a single loan:


 


(1) The loan redeposit
certificate and the payment and settlement certificate signed by Party A ;


 


(2) Transaction data
(including but not limited to written or electronic documents such as goods, labor services, capital Agreements and/or invoices
that can prove the definite purpose of the loan funds);


 


/25


 


As well as other materials
required by Party B to be provided by Party A (including but not limited to the business license, power of attorney, articles of
association, resolution of general meeting or board of directors and other materials of the transaction object of Party A)


 


2. In addition to
the conditions stipulated in item 1 above, or if Party B considers that Party A can make independent payment as stipulated in item
5 of this article after reviewing the above materials provided by Party A, Party A shall provide the following materials to Party
B at least /26 working day before the disbursement
of a single loan:


 


(1) The fund allocation
corresponding to the loan to be issued (see Annex 3 for the format of the disbursement schedule);


 


(2) The loan redeposit
certificate signed and sealed by Party A;


 


/27


 


As well as other materials
required by Party B to be provided by Party A (including but not limited to the business license, power of attorney, articles of
association, resolution of general meeting or board of directors and other materials of the transaction object of Party A ).


 


(II)


 


Regardless of the
loan disbursement amount of a single loan, Party A shall provide Party B with the following materials no later than 5 working days
before the disbursement of a single loan:


 


(1) The loan redeposit
certificate and the payment and settlement certificate signed by Party A;


 


(2) Transaction data
(including but not limited to written or electronic documents such as goods, labor services, capital Agreements and/or invoices
that can prove the definite purpose of the loan funds);


 


/28


 


As well as other materials
required by Party B to be provided by Party A (including but not limited to the business license, power of attorney, articles of
association, resolution of general meeting or board of directors and other materials of the transaction object of Party A ).


 


 





 



23
Intentionally left blank in the agreement, not applicable.


24
Intentionally left blank in the agreement, not needed as the Lender has already been in possession of all the required materials
for the disbursement of the loan from previous transactions with the Borrower.


25
Intentionally left blank in the agreement, not applicable.


26
Intentionally left blank in the agreement, not needed as the Lender has already been in possession of all the required materials
for the disbursement of the loan from previous transactions with the Borrower.


27
Intentionally left blank in the agreement, not applicable.


28
Intentionally left blank in the agreement, not applicable.



 




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IV. Entrust Party
B to Pay


 


1. Application of
entrusting Party B to pay


 


As long as the single
loan disbursement meets the following conditions of (1), Party B shall be entrusted for payment, i.e. Party A irrevocably
entrusts Party B to pay the loan funds to the transaction object of Party A. Party A shall not pay the above loan funds to the
transaction object or any other third party.


 


(1) The disbursement
amount of a single loan is more than 10 million Yuan and any planned external payment amount under this disbursement is
more than 10 million Yuan, and Party B, after reviewing the materials provided by Party A, believes that it is in line with
the clear characteristics of the payment object;


 


(2) Regardless of the
loan disbursement amount of a single loan, it shall be paid by Party B as entrusted;


 


(3) /29


 


2. In case of entrusting
Party B to pay, Party B shall transfer the loan funds to the loan issuing account, and then pay the loan funds directly to the
account of Party A’s transaction object from the loan issuing account. Party A shall not dispose the loan funds in any form (including
but not limited to transfer and withdrawal).


 


3. Party B shall conduct
formal review on the payment amount, payment time, payment object, payment method and handling account according to the materials
provided by Party A. Party B shall pay the loan funds to the transaction object of Party A after completing the formal review of
the above payment elements and believing which meet the requirements of Party B. Once the loan funds enter the account of the transaction
object provided by Party A, it shall be deemed that Party B has fulfilled the entrusted payment obligation. Party A shall check
whether the payment was successful within 1 working day after the payment date, and notify Party B immediately if it is unsuccessful.
Party A shall ensure that its transaction object is consistent with the specific purpose of the loan and transaction information.


 


4. The formal review
of the above payment elements by Party B does not mean that Party B confirms the authenticity and legal compliance of the transaction,
nor does it mean that Party B is involved in any dispute between Party A and its transaction object or other third parties, or
that Party B needs to bear any responsibility and obligation of Party A. Party A shall compensate all losses suffered by Party
B as a result of entrusted payment.


 


5. If the loan fund
fails to be paid successfully or fails to be paid to the account of Party A’s transaction object in time due to the reasons not
caused by Party B, such as incomplete, untrue, inaccurate information provided by Party A, non-conforming to the specific purpose
of the loan, conflict between the information, etc., it shall be handled as follows:


 


(1) Party A shall bear
all the consequences arising therefrom, including but not limited to all losses caused by the failure to successfully pay the loan
funds or the failure to timely pay the loan funds to the account of Party A’s transaction object. Party B shall not bear any responsibility,
and Party A shall compensate Party B for all losses incurred therefrom;


 


(2) For this part of
loan funds, Party A shall not dispose of it in any form (including but not limited to transfer and withdrawal);


 


(3) Party A shall perform
the duties of re-provisioning and correcting the information in accordance with the requirements of Party B within five working
days;


 


/30


 


Party B has the right
to recover this part of the loan funds in advance on condition that Party A violates any of the above agreements.


 


6. Party A shall bear
all risks, responsibilities, and losses incurred in the failure to pay the loan funds, such as failure, error, and delay due to
Party B’s fault, and Party B shall not bear any responsibility. Party A shall compensate Party B for all losses incurred therefrom.


 


 





 



29
Intentionally left blank in the agreement, not applicable.


30
Intentionally left blank in the agreement, not applicable.


 





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V. Party A Pays Independently


 


If the disbursement
of a single loan does not conform to the entrusted payment of Party B as mentioned in Item 1, paragraph 4 of this Article, Party
A may take the initiative to pay, i.e. Party A shall pay to its transaction object independently after Party B distributes the
loan funds to the loan issuing account according to the withdrawal application of Party A. Party A shall ensure that its transaction
object is consistent with the specific purpose of the loan and transaction information.


 


VI. No matter whether
Party B is entrusted to pay or Party A pays independently, it is deemed that Party B has fulfilled the loan obligation upon the
loan funds are transferred into the loan issuing account. Party A shall ensure that the loan issuing account is in normal status
(including but not limited to not being frozen by the competent authority, etc.). After the loan funds transferred into the loan
issuing account, Party A shall bear all the risks, responsibilities and losses caused by the freezing and deduction by the competent
authorities. Party A shall compensate Party B for all losses incurred therefrom.


 


VII. Change of Payment
Method


 


Party B has the right
to change the payment method of loan funds under any of the following conditions, including but not limited to adjusting the applicable
circumstances of entrusted payment (e.g. adjusting the amount standard of entrusted payment), changing the payment method of the
disbursement of single loan, etc.:


 


1. Party A breaches
any of the provisions of this Agreement;


 


2. Any circumstance
that may endanger the creditor’s rights of Party B stipulated in this Agreement occurs;


 


3. Other circumstances
where Party B considers it necessary to change the payment method of the loan funds.


 


Party A shall perform
the obligation of re-submission of materials in accordance with the provisions of this Agreement and the requirements of Party
B on condition that Party B changes the payment method.


 


Article 8 Use and Supervision of the
Account 


 


I. Loan Issuing Account


 


The loan issuing account
under this Agreement shall be determined according to the following methods of item 1:


 


1. Party A shall, within
5 working days from the effective date of this Agreement and before the first loan issuing, open a special loan issuing account
with Party B, which is specially used for the issuance and payment of all loans under this Agreement.


 


2. Other accounts opened
by Party A in Party B (account number:/31).


 


II. Account for Recoupment
Funds


 


1. Party A shall open
an account for recouping funds with Party B or take the existing account (account No.: 44201002700052517141) already opened
with Party B as the account for recouping funds within /32
working days from the effective date of this Agreement.


 


 





 



31
Intentionally left blank in the agreement, not applicable.


32
Intentionally left blank in the agreement, not needed as the Borrower has already opened and maintained an account for recouping
funds due to previous transactions with the Lender.


 







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2. Party A shall summarize
and report the fund in and out of the account for recoup funds to Party B on quarterly (select “monthly” or “quarterly”)
basis. Party A shall, at the latest within initial 10 working days of each period, summarize and report the fund in and
out of the account for recoup funds in the previous period to Party B.


 


3. Party B has the
right to manage the fund in and out of the recoup funds in the account. Specifically, the account for recoup funds shall meet the
following requirements of item /33 :


 


(1) Average stock
of funds in the account:


 


/34


 


(2) The transfer time
of recoup funds:


 


/35


 


(3) Proportion of
Party A’s overall sales receipts transferred to the account:


 


/36


 


(4) Single limit for
external payment of funds in the account:


 


/37


 


(5) Single-day limit
for external payment of funds in the account:


 


/38


 


(6) Restrictions on
related online banking for this account:


 


/39


 


(7) The external payment
of funds in the account shall be subject to the consent of Party B;


 


(8) The account shall
be used exclusively for the collection and repayment of the loan under the Agreement and shall not be used for other purposes;


 


(9) /40


 


(10) Other requirements
proposed by Party B;


 


(11) It shall be implemented
in accordance with the relevant agreement on the account management agreement separately signed by Party A and Party B.


 


Article 9 Repayment


 


I. Repayment Principles


 


The repayment of Party
A under this Agreement shall be repaid in accordance with the following principles:


 


Party B has the right
to use Party A’s repayment first to repay all expenses that shall be borne by Party A and paid by Party B in advance as well as
the expenses for Party B to realize the creditor’s rights stipulated in this Agreement, the remaining amount shall be repaid in
accordance with the principle of paying interest first and then the principal, and the principle of matching principal repayments.
However, for the loan whose principal is overdue for more than 90 days and whose interest is overdue for more than 90 days, or
the loan which is otherwise stipulated by laws, regulations or rules, after repayment of the above expenses, the repayment of Party
A shall be made on the principle of repay the principal first and then the interest.


 


 





 



33
Intentionally left blank in the agreement, not applicable as the Lender did not require any of the following item from the Borrower.


34
Intentionally left blank in the agreement, not applicable.


35
Intentionally left blank in the agreement, not applicable.


36
Intentionally left blank in the agreement, not applicable.


37
Intentionally left blank in the agreement, not applicable.


38
Intentionally left blank in the agreement, not applicable.


39
Intentionally left blank in the agreement, not applicable.


40
Intentionally left blank in the agreement, not applicable.


 





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II. Interest Payment


 


Party A shall pay the interest due to Party
B on the expiry date for interest. The first interest payment date is the first expiry date for interest after the issuance of
loan. At the last repayment, interest shall be settled along with the principal.


 


III. Principal Repayment
Plan


 


Party A shall repay the loan principal
according to the principal repayment plan listed in the credit line loan withdrawal notice.


 


IV. Repayment Method


 


Party A shall, prior to the repayment date
stipulated in this Agreement, reserve the amount payable in the current period on the account for recoup funds or other account
opened by Party B and transfer the amount to repay the loan by itself (Party B also has the right to transfer funds from the account
to repay the loan), or transfer funds from other accounts to repay loans on the repayment date agreed in this Agreement.


 


V. Early Repayment


 


In case of early repayment
of Party A, it shall submit a written application to Party B 30 working days in advance, and Party A may repay part or all
of the principal in advance with the consent of Party B.


 


If Party A repays the
principal in advance, the interest shall be calculated according to the actual days of use and the loan interest rate determined
in Article 5 of this Agreement.


 


If Party B agrees that
Party A may repay the principal in advance, Party B shall have the right to collect compensation from Party A, and the amount of
compensation shall be determined according to the following standards of item 1:


 


1. Compensation amount
= principal amount prepaid x number of months prepaid x 3‰. If it is less than one month, it shall be calculated as one
month;


 


2. /41


 


If Party A repays part
of the loan principal in installments, the repayment shall be made in the reverse order of the repayment plan. After prepayment,
the loan that has not been repaid shall still be executed according to the loan interest rate agreed in this Agreement.


 


Article 10 Rights and Obligations of
Party A


 


I. Rights of Party
A


 


(I) The right to apply
to Party B for disbursement of the loan as agreed in the Agreement;


 


(II) The right to use
the loan for the purposes agreed in this Agreement;


 


(III) The right to
require Party B to keep confidential of the relevant financial information provided by Party A and the business secrets in production
and operation, unless otherwise provided by laws, regulations and rules, otherwise required by the competent authorities, or otherwise
agreed by both parties;


 


 





 



41
Intentionally left blank in the agreement, not applicable.


 




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(IV) The right to refuse
Party B and its staff to ask for bribes, and the right to report the above-mentioned acts or Party B’s violations of relevant national
laws and regulations such as credit interest rates and service charges to relevant authorities.


 


II. Obligations of
Party A


 


(I) Withdraw and pay
off the principal and interest of the loan in full according to the Agreement, and bear all expenses agreed in the Agreement;


 


(II) Provide various
financial and accounting information, production and operation status information and other materials in accordance with the requirements
of Party B, including but not limited to providing Party B with the balance sheet at the end of the previous quarter and the income
statement as of the end of the previous quarter (public institutions shall provide the statement of income and expenditure) within
/42 working days before the first month of
each quarter. At the end of the year, the Party A shall timely provide the cash flow statement of the year, and ensure that the
information provided is legal, true, complete, accurate and effective, and shall not provide false materials or conceal important
business and financial facts;


 


(III) Party A shall
notify Party B in writing within 3 working days after the occurrence of any major adverse event affecting its solvency or any other
circumstance endangering Party B’s creditor’s rights, or any change in the name, legal representative (person in charge), domicile,
business scope, registered capital or articles of association of the company (enterprise) and other business registration matters,
and attach relevant materials after the change;


 


(IV) Party A shall
use the loan according to the purposes agreed in this Agreement without misappropriation, and shall not use the bank loans to engage
in illegal or illegal transactions or use the loan for investment in fixed assets, equity and other investments; shall not use
the loan for fields and purposes prohibited by the State from production and operation, and shall not replace the liabilities arising
from Party A’s investment in fixed assets, equity and other investments. It shall cooperate with and accept Party B’s inspection
and supervision of its production, operation and financial activities, as well as the use and payment of loans under this Agreement,
and shall cooperate with and accept the relevant requirements of post-loan management of Party B, and Party A shall not to withdraw
funds, transfer assets or use related party transactions to evade debts to Party B; not to use the false Agreement with related
parties to discount or pledge the creditor’s rights such as notes receivable and accounts receivable without actual trade background
to obtain bank funds or credit; Party A shall pay the loan funds as agreed in this Agreement, and shall not circumvent Party B’s
entrusted payment by means such as rounding to zero;


 


(V) Party A shall abide
by the relevant national regulations on environmental protection in case of that Party A uses the loan under this Agreement for
production and manufacturing;


 


(VI) Before paying
off the loan principal and interest of Party B, Party A shall not use the assets formed by the loan under this Agreement to provide
guarantee to the third party without the consent of Party B;


 


(VII) In the case that
Party A is a group customer, Party A shall timely report to Party B the related transactions with more than 10% of the net asset
of Party A, including: (1) the association relationships among transaction parties; (2) the item and nature of the transaction;
(3) the amount or corresponding proportion of the transaction; (4) pricing policy (including transactions involving no amount or
only nominal amount);


 


(VIII) Party A shall
obtain the written consent of Party B before carrying out major issues such as merger, division, equity transfer, foreign investment
and substantial increase in debt financing. However, the written consent of Party B shall not affect Party B’s right to take the
relief measures agreed in this Agreement when Party B believes that the above-mentioned acts may endanger the safety of Party B’s
creditor’s rights in the future;


 


 





 



42
Intentionally left blank in the agreement, not applicable as the Borrower was not obligated to provide the financial and accounting
information specified in this paragraph pursuant to the terms herein.







    Page 12 of 21


     


    

  


China Construction Bank 


 


(IX) In case of Party
A pays independently, Party A shall summarize and report the use and payment of the loan to Party B on a monthly basis. Party A
shall, at the latest within the first /43 working
days of each month, summarize and report to Party B the use and payment of the loan in the previous month, and submit a list of
the actual use of the loan until the payment of the loan is completed. See Annex 4 for the format of summary report.


 


Article 11 Rights and Obligations of
Party B


 


I. Party B has the
right to require Party A to repay the principal, interest and expenses of the loan on schedule, to manage and control the payment
of loan funds, to dynamically monitor the overall cash flow of Party A, to recover the loan in advance according to fund withdrawal
of Party A, to exercise other rights stipulated in this Agreement, and to require Party A to perform other obligations under this
Agreement;


 


II. Party B has the
right to participate in the large-denomination financing (that is, the financing with a total amount of more than RMB /75
Yuan or the equivalent foreign currency), asset sale, merger, division, shareholding system transformation, liquidation of the
property of Party A, to maintain the creditor’s rights of Party B. The specific participation method is the following item blank44:


 


1. Party A shall obtain
the written consent of Party B when carrying out the above activities;


 


2. Party B arranges
large-denomination financing for Party A;


 


3. The asset selling
price and object of Party A shall comply with the following provisions:


 


/45


 


4. /46


 


5. Other actions that
Party B believes should be taken.


 


III. Issue loans in
accordance with the provisions of this Agreement, except for the delay or failure caused by Party A or other reasons not attributable
to Party B;


 


IV. Keep confidential
of the relevant financial information provided by Party A and the business secrets in production and operation, unless otherwise
provided by laws, regulations and rules, otherwise required by the competent authorities, or otherwise agreed by both parties;


 


V. Party B shall not
offer bribes to Party A or its staff, or ask for or accept bribes from Party A or its staff;


 


VI. Party B shall
not act dishonestly or damage the legitimate interests of Party A.


 


Article 12 Liability for Breach of Agreement
and Remedial Measures for Endangering the Rights of Party B as a Creditor


 


I. Breach of Agreement
and Liability for Breach of Agreement by Party B


 


(I) If Party B fails
to issue loans as agreed in this Agreement without justifiable reasons, Party A may demand Party B to continue to issue loans as
agreed in this Agreement;


 


(II) If Party B violates
the prohibitive provisions of national laws and regulations and collects interest and fees that should not be collected from Party
A, Party A has the right to require Party B to refund them.


 


II. Breach of Agreement
of Party A


 


(I) Party A violates
any articles in this Agreement or any legal obligation;


 


(II) Party A expressly
indicates or indicates by its behavior that it will not perform any obligation under this Agreement.


 


 





 



43
Intentionally left blank in agreement, not applicable.


44
Intentionally left blank in the agreement, not applicable as the Lender did not seek to exercise the right to participate in the
following activities.


45
Intentionally left blank in the agreement, not applicable.


46
Intentionally left blank in the agreement, not applicable.


 







    Page 13 of 21


     


    

  


China Construction Bank


 


III. Circumstances
that May Endanger the Rights of Party B as a Creditor


 


(I) Under any of the
following circumstances that Party B considers may endanger the rights as a creditor under this Agreement: Party A has trusteeship
(takeover), leasing, shareholding system transformation, reduction of registered capital, investment, joint venture, merger, acquisition
and reorganization, separation, equity transfer, substantial increase of debt financing, (to be) applied for suspension of business
for rectification, application for dissolution, cancellation, and (to be) applied for bankruptcy, change of controlling shareholder
/ actual controlling person, transfer of major assets, suspension of production and closure, high fines imposed by the competent
authorities, cancellation of registration and revocation of business license, involving major legal disputes, serious difficulties
in production and operation or deterioration of financial status, decline of credit status, failure of legal representative or
main person in charge to perform their duties normally;


 


(II) Under any of the
following circumstances that Party B considers may endanger the security of the rights as a creditor under this Agreement: Party
A fails to perform other debts due (including debts due to subsidiaries at all levels of China Construction Bank or other third
parties), transfer property at low price and free of charge, reduce or relieve the debts of the third party, delay in exercising
the creditor’s rights or other rights, or provide guarantee for the third party; the financial indicators of Party A fail to meet
the requirements of Annex 2 “Financial Indicator Requirements”; abnormal fluctuation of funds in any account of Party
A (including but not limited to the account for recouping funds and other monitoring account of Party B); Party A has a major cross-default
event; the weak profitability of primary business of Party A; abnormal use of loan funds;


 


(III) Party A’s shareholders
abuse the independent status of the company’s legal person or shareholder’s limited liability to evade debts, and Party B believes
that it may endanger the security of creditor’s rights under this Agreement;


 


(IV) Fails to continuously
meet any preconditions for loan issuance as agreed in this Agreement;


 


(V) In case of any
of the following circumstances of the guarantor, Party B believes that it may endanger the security of the rights as a creditor
under this Agreement:


 


1. The breaching of
any article of the guarantee Agreement, or any false, error or omission in the statement and guarantee;


 


2. The Occurrence
of the following circumstances: contracting, trusteeship (takeover), leasing, shareholding system transformation, reduction of
registered capital, investment, joint venture, merger, merger, acquisition and reorganization, separation, joint venture, equity
transfer, substantial increase of debt financing, (to be) applied for suspension of business for rectification, application for
dissolution, cancellation, and (to be) applied for bankruptcy, change of controlling shareholder / actual controller or transfer
of major assets, transfer property at a low price or free of charge, reduce or relieve debts of third parties, or delay in exercising
creditor’s rights or other rights, suspension of production and closure, high fines imposed by the competent authorities, cancellation
of registration and revocation of business license, involving major legal disputes, serious difficulties in production and operation
or deterioration of financial status, decline of credit status, failure of legal representative or main person in charge to perform
their duties normally, which may affect the guarantor’s ability to undertake the guarantee;


 


3. Other circumstances
where the ability to guarantee is lost or may be lost;


 


(VI) In case of any
of the following circumstances in mortgage or pledge, Party B believes that it may endanger the security of creditor’s rights under
this Agreement:


 


1. The mortgaged property
or pledged property is damaged, lost or reduced in value due to the acts of a third party, expropriation, confiscation, requisition,
free recovery, demolition, changes in market conditions or any other reasons;


 




    Page 14 of 21


     


    

  


China Construction Bank


 


2. The mortgaged property
or the pledged property is sealed up, detained, frozen, deducted, retained or auctioned, supervised by the administrative organ,
or the ownership of which is in dispute;


 


3. The mortgagor or
pledgor violates any article of the mortgage Agreement or the pledge Agreement, or there is any false, error or omission in the
statement and guarantee;


 


4. Other circumstances
that may endanger the realization of the mortgage or pledge of Party B;


 


(VII) The guarantee
is not established, not effective, invalid, revoked or canceled, the Guarantee breaches the Agreement or explicitly indicates or
through its actions indicating that it will not perform its guarantee liabilities, or the Guarantee loses the guarantee ability
in part or in whole, the value of the guaranty decreases and other circumstances, and Party B believes that which may endanger
the security of creditor’s rights under this Agreement; or


 


(VIII) Other circumstances
that Party B considers may endanger the security of the creditor’s rights under this Agreement.


 


IV. Relief Measures
of Party B


 


In case of any of
the circumstances contemplated in the second or third paragraphs of this Article, Party B has the right to exercise one or more
of the following rights:


 


(I) Suspend the issuance
of loans;


 


(II) Supplement the
conditions of loan issuance and payment;


 


(III) Change the loan
payment method in accordance with the Agreement;


 


(IV) Declare the immediate
maturity of the loan, and require Party A to immediately repay the principal, interest and expenses of all matured and unmatured
debts under this Agreement;


 


(V) Adjust, cancel
or terminate the credit line accordingly, or adjust the valid period of credit line.


 


(VI) In case of Party
A fails to use the loan for the agreed purpose, for the part misappropriated by Party A, Party B has the right to charge interest
and compound interest according to the penalty interest rate and the interest settlement method agreed in this Agreement from the
date when the loan is not used according to the agreed purpose to the date when all the principal and interest are paid off;


 


(VII) In case of the
loan is overdue, for the loan principal and interest that Party A fails to pay off on time (including the loan principal and interest
declared by Party B to be fully or partially due in advance), Party B has the right to calculate and collect the interest and compound
interest according to the penalty interest rate and the interest settlement method agreed in this Agreement from the overdue date
to the date when the principal and interest are fully paid off. Overdue loan refers to Party A’s failure to repay the loan on time
or exceed the agreed time limit for repayment of principal in installments.


 


Before the loan becomes
due, Party B shall have the right to calculate and collect compound interest on the interest that Party A fails to repay on time
according to the loan interest rate and interest settlement method agreed in this Agreement;


 


(VIII) Other remedies,
including but not limited to:


 


1. Transfer and collect the
corresponding amount in RMB or other currencies from the account opened by Party A in China Construction Bank system without prior
notice to Party A;


 


2. Exercise guarantee
rights;


 


3. Require Party A to provide
new guarantee that meet the requirements of Party B for all debts under this Agreement;


 




    Page 15 of 21


     


    

  


China Construction Bank


 


4. Refuse Party A to dispose
of the corresponding amount of deposit in the account (including but not limited to the account for recoup funds) opened by Party
A in China Construction Bank System;


 


5. Terminate this
Agreement.


 


Article 13 Other Provisions


 


I. Expenses Responsibility


 


1. Expenses incurred due to Party
A’s breach of any agreement in this Agreement (including but not limited to the actual legal fees, arbitration fees, property preservation
fees, travel expenses, execution fee evaluation fees, auction fees, notarization fees, service fees, announcement fees, attorney
fees and other expenses incurred by Party B due to Party A’s breach of Agreement) shall be borne by Party A;


 


2. For other expenses,
Party A and Party B agree as follows: /47


 


II. Use of Party A’s
Information


 


Party A agrees that Party B may
inquire Party A’s credit status from the credit database established with the approval of The People’s Bank of China and the competent
credit investigation department or relevant units and departments, and agrees that Party B may provide Party A’s information to
the credit database established with the approval of The People’s Bank of China and the competent department of credit investigation.
Party A also agrees that Party B may reasonably use and disclose Party A’s information for business needs.


 


III. Announcement
for Collection


 


Party B shall have the right
to inform the relevant departments or units of Party A’s default on the principal and interest of the loan or other cases of breach
of Agreement, and shall have the right to make a public announcement through the news media for collection.


 


IV. Evidence Validity
of Party B’s Records


 


Unless there is reliable and
definite evidence to the contrary, Party B’s internal accounting records about the principal, interest, expenses and repayment
records, the documents and vouchers produced or retained by Party B in the process of Party A’s withdrawal, repayment, payment
of interest and other business, as well as the records and vouchers of Party B’s collection of loans, shall constitute the confirmation
evidence effectively proving the creditor’s rights relationship between Party A and Party B. Party A shall not raise any objection
just on the ground that the above records, documents and vouchers are made or retained by Party B unilaterally.


 


V. Reservation of Rights


 


The rights of Party B hereunder
shall not affect or exclude any other rights granted by laws, regulations and other Agreements. Any tolerance, grace period, preferential
treatment, or delay regarding the performance of any rights hereunder shall be deemed neither as waive of the rights and interests
hereunder nor as the consent or acceptance for any behaviors violating this Agreement. Such tolerance, grace period, preferential
treatment, or delay regarding the performance of any rights hereunder shall neither restrict, prevent or hinder continuous performance
of the rights or performance of other rights nor cause the Party B to assume any rights and obligations, arising thereof, for the
Party A .


 


VI. In addition to
the debts under this Agreement, if Party A has other debts due to Party B, Party B has the right to transfer and collect the RMB
or other currency in the account opened by Party A in China Construction Bank system, and which shall be first used to pay off
any debts due, and Party A agrees not to raise any objection hereof.


 


VII. In case of any
change in Party A’s communication address or contact information, Party A shall immediately notify Party B in writing, and Party
A shall bear the loss caused by failure to notify in time.


 


VIII. Transfer and
Collection of Payables


 


Party B has the right
to transfer the corresponding amount in RMB or other currencies from the account opened by Party A in China Construction Bank System
for all the payables of Party A under this Agreement, without prior notice to Party A. Party A is obliged to assist Party B in
handling the procedures of foreign exchange settlement and sale or foreign exchange trading, and the exchange rate risk shall be
borne by Party A.


 


 





 



47
Intentionally left blank in the agreement, not applicable.


 




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China Construction Bank


 


IX. Dispute Resolution


 


Any dispute arising
from the performance of this Agreement can be settled through negotiation. If negotiation fails, it shall be settled as the following
methods of item 1:


 


1. File a lawsuit with the People’s Court
of the place where Party B is domiciled.


 


2. Submit to the Arbitration
Commission (place of arbitration is /48), and conduct
arbitration in accordance with the arbitration rules in force at the time of applying for arbitration. The arbitration award is
final and binding on both parties.


 


During the litigation
or arbitration, the provisions of this Agreement that do not involve the disputes shall still be performed.


 


X. Conditions for the Agreement Entry into
Force


 


This Agreement shall
enter into force after being signed and stamped by the legal representative (person in charge) or authorized agent of Party A and
the person in charge or authorized agent of Party B.


 


The annexes, disbursing
application for the credit line loan, credit line loan withdrawal notice, various types of vouchers and other legal documents forming
the relationship between creditor’s rights and debts under the Agreement shall be an integral part of the Agreement and have the
same legal effect as the Agreement.


 


XI. This Agreement
is made in septuplicate.


 


XII. Other Matters


 


(I) All outstanding
debts (including principal and interest, various expenses, and so on) of Party A under the RMB Credit Line Loan Agreement
(No.J2017Z30406) signed with Party B on November 15, 2017, shall occupy the credit line stipulated in the first paragraph of Article
1 of this Agreement.


 


(II) Relevant VAT Agreements


 


1. Unless
otherwise agreed by the parties, the price and non price expenses under this Agreement shall be the price including VAT.


 


2. Invoice


 


2.1 Party B shall issue
invoices in accordance with Item (1) below:


 


(1) If Party A requires to issue
invoice, Party B shall issue value-added tax invoice of the current payment amount according to law after receiving the payment
from Party A.


 


(2) Other agreements:/49


 


2.2 Invoicing information
provided by Party A


 


Company Name (Full
Name): United Time Technology Co., Ltd.


 


Taxpayer Identification
No.: 914403006766520412


 


Bank Account: 755914819410602


 


Bank: Shenzhen
Science Park Sub-branch of China Merchants Bank


 


Address: F2.64D-403, Tianzhan
Building, Tian’an Chegongmiao Industrial Zone, Xiangmi Lake, Futian District, Shenzhen City


 


Tel: 0755-86512198


 


 





 



48
Intentionally left blank in the agreement, not applicable.


49
Intentionally left blank in the agreement, not applicable.


 







    Page 17 of 21


     


    

  


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2.3 If there is any need to invalidate
the invoice or issue a credit note, Party A shall provide timely assistance as required by Party B. If the invoice cannot be voided
or the credit note cannot be issued attribute to Party A, Party A shall compensate Party B for all losses, including but not limited
to taxes, additional taxes, penalties, and late fees.


 


3. If Party A is an overseas
agency of the People’s Republic of China, and the price and extra-price charges under this Agreement are subject to tax incentives
and require tax filing for the purposes of laws, regulations, rules or relevant regulations of relevant authorities, Party A shall
timely provide Party B with sufficient and accurate VAT tax preference filing information as required by Party B, so as to assist
Party B in completing tax filing and other works.


 


(III) Agreed Terms of Service


 


Party A and Party B
have agreed on the address for service and legal consequences of various notices, agreements, and documents related to this Agreement:


 


1. Address for service


 


(1) The effective address for service affirmed
by Party A:


 


7 / F, Block A, Building 5, Software
Industry Base, Nanshan District, Shenzhen City


 


(2) The effective address for service affirmed
by Party B:


 


Block A, Rongchao Business Center, No.6003
Yitian Road, Futian District, Shenzhen City


 


2. Application of address for service


 


The addresses above for service
are applicable to the delivery of various kinds of notices, agreements and documents relevant to the Agreement, including but not
limited to the delivery of various kinds of notices, agreements during Agreement performance period, delivery of relevant documents
during dispute and the delivery of relevant documents and legal documents in first trial, second trial and executive procedure
and other procedures after the dispute’s entering arbitration and civil procedure.


 


3. Change of address


 


(1) If Party A needs to change
the address for service, it shall notify Party B in writing 30 working days in advance, and the written notice shall be delivered
to the address for service of Party B;


 


(2) If Party B needs to change
the address for service, it shall notify Party A in writing.


 


(3) If one party changes its address
in arbitration or civil litigation, the party shall also perform the obligation of written notice to the arbitration institution
and the court.


 


(4) After one party performs the
obligation of sending the notice of change of address according to the above agreement, the address for service after change will
be the effective address for service; otherwise the previously confirmed address for service shall still be the effective address
for service.


 


4. Legal consequences


 


(1) If the notice, agreement, legal
document and other documents are not actually received by the party due to the address for service provided or confirmed by either
party is inaccurate, the notice obligation is not fulfilled in time in the above manner after the change of address for service,
the party or its designated receiver refuses to receive, and so on, in case of service by post, the date of return of documents
shall be deemed as the date of service; in case of direct service, the date on which the addresser records the information on the
service receipt on the spot shall be deemed as the date of service.


 


(2) For the above-mentioned address
for service, the arbitration institution and the court can directly mail the service, even if the parties fail to receive the documents
mailed by the arbitration institution and the court, due to the above agreement, it shall also be deemed as service.


 




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China Construction Bank


 


(IV) The loan interest
rate under this Agreement is the interval interest rate, which is determined between the reduction of LPR interest rate by 38.5
basis points (1 basis point equals to 0.01%, accurate to 0.01 basis point) and the increase of LPR interest rate by 350 basis points
(1 basis point equals to 0.01%, accurate to 0.01 basis point), the specific interest rate of a single withdrawal shall be subject
to the corresponding loan withdrawal notice, and shall be adjusted once every 12 months from the date of withdrawal to the date
of full repayment of principal and interest according to the LPR interest rate of the working day before the interest rate adjustment
date and the corresponding up / down floating proportion. The interest rate adjustment date is the corresponding date of the withdrawal
date in the current month of adjustment. If there is no corresponding date of the withdrawal date in the current month, the last
day of the current month is the interest rate adjustment date. The withdrawal date mentioned in this item refers to the date when
the loan issued each time is transferred to the loan issuing account agreed by Party A and Party B on condition that Party A applies
for the disbursement of loan. (5) Repayment method: interest shall be paid on a monthly basis, and the principal and interest of
the loan shall be settled in one time when due.


 


Article 14 Declaration Clause


 


I. Party A clearly
understands the business scope and authority of Party B.


 


II. Party A has read
all the terms and conditions hereof. As requested by the Party A, the Party B has made explanations for the corresponding terms
and conditions hereof. The Party A has full information and understanding regarding the implication of the terms and conditions
hereof and the corresponding legal consequence.


 


III. Party A’s
signing and performance of its obligations under this Agreement are in accordance with laws, administrative regulations, rules
and Party A’s articles of association or internal organization documents, and have been approved by competent internal organization
of the company and /or by the competent state authorities.


 


IV. Party A’s
production and operation are legal and compliant;


 


V. Party A has the
ability to continue operations and has a legitimate source of repayment;


 


VI. Party A promises
that all loans under this Agreement are based on the real needs of the specific purpose of the loan and do not exceed its actual
needs.


 


VII. Party A and its
controlling shareholders have good credit status and have no significant bad records.


 


VIII. Party B has
the right to entrust other branches of China Construction Bank to issue loans under this Agreement and exercise and perform Party
B’s rights and obligations under this Agreement, Party A has no objection to hereof.


 


IX. Party A declares
that at the time of conclusion of this Agreement, it and its important related parties do not have any behavior or situation in
violation of environmental and social risk management laws, regulations and rules, and promise to strengthen the environmental
and social risk management of itself and its important related parties after the conclusion of this Agreement, and strictly abide
by the laws, regulations and rules related to environmental and social risk management, put an end to the hazards and related risks
to the environment and society in the construction, production and business activities (including but not limited to environmental
and social issues related to energy consumption, pollution, land, health, safety, resettlement, ecological protection, energy conservation
and emission reduction, climate change, and so on). Party A acknowledges that Party B has the right to supervise the environmental
and social risk management of Party A and request Party A to submit the environmental and social risk report. If the above statement
of Party A is false or the above commitment is not fulfilled, or Party A may cause environmental and social risks, Party B has
the right to stop granting credit to Party A (including but not limited to refusal to issue loans, provide financing, issue letter
of guarantee or letters of credit or bank acceptance bill, etc.),or to declare that the principal and interest of creditor’s rights
(including but not limited to loans, financing, advances that have been or may occur, etc.) are due in advance, or to take other
remedies as agreed in this Agreement or permitted by law.


 


Party A (Official Seal): United Time Technology
Co., Ltd. (Seal Affixed)


 


Legal Representative (Person in Charge)
or Authorized Agent (Signature): /s/ Minfei Bao


  


April 23, 2019


 


Party B (Official Seal): Shenzhen Branch
of China Construction Bank Corporation (Seal Affixed)


 


Person in Charge or Authorized Agent (Signature):
/s/ Ye Wang


 


 


April 23, 2019


 


This page contains
no text (Seal)


 




    Page 19 of 21


     


    

  


China Construction Bank


 


Annex 1:


 


Basic Information of the Loan


 


1. Specific purposes of the loan under
the Agreement:


 


    Used for daily
capital turnover, purchasing raw materials, etc.


 


    Party A shall not
change the specific purpose of the loan without the written consent of Party B.


 


2. The repayment source of the loan under
the Agreement:


 


Operating income,
etc.


 


Party A shall ensure that the source of
the repayment is real and legal, and the repayment cash flow is stable and sufficient.


 


3. Others:


 


/50


 


 


Annex 2:


 


Financial Indicator Requirements


 


The financial indicators of Party A shall
continue to meet the following restrictions:


 


The ratio of liabilities to assets shall
not be higher than 75%.


 


After notifying Party A within 5
working days in advance, Party B has the right to modify the above restrictions.


 























 





 



50
Intentionally left blank in the agreement, not applicable.


 





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Annex 3


 


Fund Allocation


 


	Agreement No.	 
	Withdrawal Date	 
	No.	Planned Purpose	Anticipated Payment Amount	Anticipated Payee (if any)	Comments
	1	 	 	 	 
	2	 	 	 	 
	...	 	 	 	 
	Total	RMB _______ ten thousand Chinese Yuan (in words: _________)
	Name of Borrower (Seal):
	 	 	 	 	 	 


Annex 4


 


Summary of Independent Payment


 


	Agreement No.	 
	Date of Submission	 
	No.	Actual Use	Payee	Amount	Supporting Materials	Planned or not
	1	 	 	 	 	 
	2	 	 	 	 	 
	 	 	 	 	 	 
	Total	RMB _______ ten thousand Chinese Yuan (in words: _________)
	Name of Borrower (Seal):
	Conclusion of Internal Review	Account Manager (Signature):
	Person in charge of Issuance and Payment Review (Signature):
	 	 	 	 	 	 	 


 


Annex 5


 


China Construction Bank Corporation


Notice of Withdrawal


 


	Borrower (full name): United Time Technology Co., Ltd. 
	Depository Account: 44201002700052517141-3001	Loan Account: to be determined by the certificate of the loan deposit
	Name of the loan agreement: Renminbi Credit Facility Agreement	Number of the loan agreement: HTZ442000000CNED201900005
	Number the corresponding application to release this loan, if any: 
	
        Currency of the loan: Renminbi

        Amount of the loan (in Chinese characters):

        FIFTEEN MILLION CHINESE YUAN
	RMB15,000,000.00
	
        (Fill in the blanks if the interest rate
        of this disbursement of Renminbi loan is set within a range, as agreed by the Credit Agreement)

        The interest
        rate of this disbursement is set in a range, namely to be determined by the standard below (select by checking the box):  ̈
        

         ̈
        the benchmark interest rate as of the date of withdrawal ___ (floating upwards/downwards) _____%,

        þ
        LPR interest rate plus (choose from “plus” or “minus”) 150 base points (1 base point = 0.01%,
        specified to 0.01 base point), and to be adjusted according to the credit agreement.

	
        China Construction Bank Corporation Shenzhen
        Branch (the Lender in the credit agreement):

         

        According to the loan
        agreement entered between you and our company on April 23, 2019, our company intends to withdraw the extended loan in the amount
        specified in this Notice. Please transfer the money to the account of our company at your bank (the depository account specified
        in this Notice), and make external payment according to related regulations.

         

        Seal Verified

        Verifier: Jiafeng Guo                                                                             Borrower: United
        Time Technology Co., Ltd. (Seal Affixed)

        Reviewer: Jing Su

                                                                             May 10, 2019

	
        We, the Bank, as the
        Lender under the credit agreement above, having received the Notice of Withdrawal from the Borrower, hereby transfer the money
        specified in the Notice to the Borrower’s depository account at Our Bank.

        The Notice becomes
        the effective attachment and constituent part of the credit agreement above from the date of disbursement.

         

        China Construction
        Bank Corporation Song Li (Seal Affixed)

        May 10, 2019



 


Note: returned to the Borrower for its
own record after the Bank’s the confirmation of receipts 


 


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