Exhibit 4.32


 


Power
of Attorney


 


The undersigned, David Xueling Li, an individual
with PRC nationality, with the ID Card number 640204197410230034, hereby declares and confirms as follows:


 


		(1)	The undersigned holds 100% of the rights and interests (the “Rights and Interests”)
in the registered capital of Beijing Bilin Online Information Technology Co., Ltd., a limited liability company duly incorporated
and validly existing under the PRC laws (the “Domestic Company”).



 


		(2)	The undersigned hereby irrevocably authorizes Beijing Bilin Changxiang Information Technology Co.,
Ltd., a company duly incorporated and validly existing under the PRC laws (the “WFOE”), or any succeeding
person or entity who has obtained the business of WFOE through merger, acquisition or integration (the “Successor”),
to handle any and all matters in relation to the Domestic Company and its rights and interests, and to exercise all rights of the
undersigned as the holder of the Rights and Interests, in the name of the undersigned. This Power of Attorney grants to WFOE the
following rights and authorizations, including without limitation:



 


		(a)	WFOE or the Successor may, as the sole agent of the undersigned, handle any and all matters in
relation to the Rights and Interests, including but not limited to (i) attend the general meetings of the Domestic Company; (ii)
exercise all voting rights of shareholders and other rights enjoyed by the undersigned pursuant to PRC laws and the article of
association of the Domestic Company, including but not limited to the sales, transfer, pledge, or disposal in other way, of the
whole or part of the Rights and Interests; (iii) appoint the legal representative, chairman, director, supervisor, chief executive
officer and any other senior officers of the Domestic Company on behalf of the undersigned; and (iv) overlook the operation result
of the Domestic Company; (v) access the financial information of the Domestic Company at any time; (vi) in case the conducts of
directors or senior officers of the Domestic Company harm the interest of the Domestic Company or its shareholders, initiate shareholder
derivative litigation or other legal proceedings against such directors or senior officers; (vii) approve annual budget or distribution
of dividends; and (viii) any other shareholder’s rights granted to the shareholders by the articles of association of the
Domestic Company and its amendments from time to time, or/and relevant laws and regulations.



 






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		(b)	The undersigned further authorizes WFOE to enter into contracts or documents relating to the operation
of the Domestic Company on behalf of the undersigned, including but not limited to any contract of transfer, in order to perform
the obligations under the Exclusive Option Agreement, the Exclusive Assets Purchase Agreement and the Equity Interest Pledge Agreement
entered into by the undersigned on 25 August, 2015. This authorization shall also include the rights to execute any other documents
for the perfection of the rights and interests under the aforementioned agreements.



 


		(c)	As solely decided by WFOE and without the necessity of informing the undersigned or obtain further
consent from the undersigned, WFOE is also entitled to authorize any third party to exercise the power hereunder, and transfer
the rights hereunder to any third party to allow such third party to exercise such rights.



 


		(3)	All actions taken by WFOE or the Successor in relation to the Rights and Interests shall be deemed
as taken by the undersigned in person, without the necessity of consulting with the undersigned in advance; all documents executed
by WFOE or the Successor in relation to the Rights and Interests shall be deemed as executed by the undersigned in person. The
undersigned hereby confirms, ratifies and approves such actions taken by or documents executed by WFOE or the Successor.



 


		(4)	The undersigned has agreed to transfer the Rights and Interests to WFOE or any person or entity
designated by WFOE in line with the Exclusive Option Agreement entered into by and between the undersigned, WFOE and the Domestic
Company (the “Exclusive Option Agreement”). To ensure the performance of the Exclusive Option Agreement,
the undersigned hereby undertakes as follows:



 


		(a)	The undersigned has executed the Equity Transfer Agreement (the “Equity Transfer Agreement”),
and has execute the Shareholder’s Resolution to approve such transfer. At any time upon the request of WFOE, the undersigned
shall immediately transfer the Rights and Interests to WFOE or the Successor. The date of execution and the name of the transferee
on such Equity Transfer Agreement and the Shareholder’s Resolution are left blank.



 


		(b)	The undersigned hereby irrevocably authorizes WFOE to fill in the date of execution and the name
of the transferee in the Equity Transfer Agreement, and the undersigned hereby agrees that the Equity Transfer Agreement shall
be kept by WFOE;



 






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		(c)	The undersigned hereby irrevocably authorizes WFOE to, for the purpose of the effective transfer
of the Rights and Interests to WFOE and the Successor, execute additional documents as required by law or government on behalf
of the undersigned; and



 


		(d)	The undersigned hereby confirms that the undersigned is and will continue to be bound by the obligations
under the Exclusive Option Agreement and the Equity Transfer Agreement, and undertakes to perform all such obligations upon written
request of WFOE.



 


		(5)	The undersigned has agreed to procure the Domestic Company to transfer its assets to WFOE or any
person or entity designated by WFOE, pursuant to the Exclusive Assets Purchase Agreement by and between the Domestic Company, the
undersigned and WFOE (the “Exclusive Assets Purchase Agreement”), including executing and delivering
the Shareholder’s Resolution which approves such transfer;



 


		(6)	The undersigned further agrees and undertakes to WFOE that if the undersigned receives any dividends,
interests, capital distribution in any other form, remaining assets after liquidation, or incomes or considerations generated from
the transfer of equity by virtue of the equity interest of the Domestic Company held by the undersigned, the undersigned shall,
to the extent permitted by law, pay all of these dividends, interests, capital distribution, assets, incomes or considerations
to WFOE in full without requesting for any compensation.



 


		(7)	All actions taken by WFOE or the Successor in line with this Power of Attorney shall be deemed
as taken by the undersigned in person; all documents executed by WFOE or the Successor in relation to the Rights and Interests
shall be deemed as executed by the undersigned in person. The undersigned hereby confirms, ratifies and approves such actions taken
by or documents executed by WFOE or the Successor, and accepts and assumes corresponding responsibility for all legal consequences
arising from the authorizations made by the undersigned under this Power of Attorney.



 


		(8)	The undersigned hereby waives all rights enjoyed by the undersigned as the holder of the Rights
and Interests. Such rights have been irrevocably authorized to WFOE through this Power of Attorney, and the undersigned shall not
exercise or attempt to exercise any of such rights.



 






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		(9)	The undersigned hereby agrees that if the equity held by the undersigned in the Domestic Company
increases, whether through increment of capital contribution or not, any additional equity held by any shareholder shall be subject
to this Agreement, and WFOE shall have the right to exercise the shareholder’s rights as provided in Section 2 over such
additional equity on behalf of the undersigned; similarly, if any person obtains equity of the Domestic Company, whether through
voluntary transfer, transfer by operation of law, mandatory auction or in any other way, the undersigned shall procure such transferee
to agree that all equity of the Domestic Company it obtained is subject to this Agreement, and WFOE is entitled to exercise the
shareholder’s rights as provided in Section 2 over such equity.



 


		(10)	This Power of Attorney is attached with rights and interests.
Throughout the period that the undersigned is a shareholder of the Domestic Company, this Power of Attorney shall remain effective
from the day of issue and shall not be revoked



 


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execution page to follow)


 




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(Execution Page)





 





	Name of the Shareholder: David Xueling Li	 
	 	 
	/s/ David Xueling Li	 
	(Signature)	 
	 	 	 
	Date:	August 25, 2015	 




 






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