Exhibit 4.5


 


Summary Translation of


Loan Agreement for Working Capital 


 


Lender: Industrial Bank Co., Ltd Taian Branch


 


Borrower: Shandong Taiying Technology Co., Ltd


 


1.    Purpose of loan agreement.


 


The purpose of the loan agreement
is to allow the Borrower to finance its working capital needs (including equipment purchases).


 


2.   Amount of loan and term.


 


	Withdrawal	Amount
    of Loan	Loan
    Period
	Loan
    Withdrawal 1	RMB
    2,000,000	September
    21, 2015 to September 20, 2016
	 	 	 
	Loan
    Withdrawal 2	RMB
    3,000,000	July
    16, 2015 to July 16, 2016
	 	 	 
	Loan
    Withdrawal 3	RMB
    5,000,000	July
    10, 2015 to July 9, 2016
	 	 	 
	Total	RMB
    10,000,000	 


 






     


     


    

 


3.    Interest rate and method of payment.


 


Interest shall be paid on the 20th
day of every month. The interest rate is fixed during the term, and the annual borrowing interest rate formula is as below.


 


	Withdrawal	Amount
    of Loan	Annual
    Borrowing Interest Rate Formula
	Loan
    Withdrawal 1	RMB
    2,000,000	PBC
    RMB Loan Benchmark Rate

 

(One-Year)×1.39
	 	 	 
	Loan
    Withdrawal 2	RMB
    3,000,000	PBC
    RMB Loan Benchmark Rate



(One-Year)×1.34
	 	 	 
	Loan
    Withdrawal 3	RMB
    5,000,000	PBC
    RMB Loan Benchmark Rate



(One-Year)×1.34


 


4.    Repayment Date.


 


The Borrower shall repay
all loan proceeds in a lump sum on the maturity date.


 


5.    Prepayment.


 


The Borrower must obtain
the Lender’s written consent if it desires to prepay the loan in advance of its maturity date. There is no prepayment penalty
if the Lender accepts the Borrower’s prepayment request.


 


6.    Guarantee.


 


The loan is guaranteed by
Gary Wang and Taishan Venture Investment Co., Ltd.


 


7.   Liability of breach of contract.


 


If there is a breach of the
terms of the agreement, the Lender has the right, among other actions, to: 1) accelerate the loan (including all fees, costs and
interest); 2) unilaterally terminate the agreement; and 3) deduct from the Borrower’s bank accounts opened at the Lender
without judicial process, to pay principal, interest and other expenses due pursuant to the agreement.


 






    	 	 	2



     


    

 


8.   Loan
recall and cross default.


 


The
Lender has the right to recall the loan and implement cross default provisions if the Borrower:


 


		●	provides
                                         false documents or fails to disclose material facts; and



 


		●	alters
                                         the purpose of the loan without Lender consent.



 


9.   Non-material
terms.


 


The
loan agreement contains terms concerning the following non-material matters, which have been omitted from this summary:


 


		●	Precondition
                                         for withdrawal;



 


		●	Account
                                         supervision and payment of loan;



 


		●	Repayment
                                         of capital and interest;



 


		●	Notice
                                         provisions;



 


		●	Law
                                         application and jurisdiction;



 


		●	Notarization;



 


		●	Obligations
                                         and promises; and



 


		●	Obligation
                                         to reveal major transactions.





 


  


 3