Exhibit 4.18


 


April 2021 version


Working Capital Loan Contract


Serial No.: [*]


 


The Lender: Xiamen Branch Office of Industrial Bank
Co., Ltd.


Address: Industrial Bank Building, 78 North Hubin
Road, Siming District, Xiamen


Legal Representative/Principle: Hong Pipa


 


the Borrower: Xiamen Pop Culture Co., Ltd.


Address: Unit 836, No.
5, Mu Chu Road, Huli District, Xiamen


Legal Representative/Principle: Huang Zhuoqin


 


Place of signing contract: Siming District, Xiamen
City





 






    


     


    

 


Important Notice for Signing


 


In order to protect your rights and interests,
before signing this Contract please read carefully, check and confirm the followings:


 


	1.	You have the right to sign this Contract. If the consent of others is required by law, you have obtained
sufficient authorization;
	 	 



	2.	You have carefully read and fully understood the terms of the contract and have paid particular attention
to the parts of the contract in which the bank’s liability is waived or limited and the black text is added;
	 	 



	3.	Your company and you have fully understood the meaning of the contract terms and the corresponding legal
consequences, and are willing to accept these terms and conditions;
	 	 



	4.	You Company and you have paid special attention to the terms concerning the use of credit funds by the
Company and you according to the purposes agreed in the contract, the terms against misappropriation of credit funds (including but not
limited to the purchase or investment of credit funds into real estate, etc.); and the requirement to issue a letter of commitment for
the use of funds to Industrial Bank, and the Company and you have fully known and understood the requirements. Industrial Bank Co., Ltd.
will take measures against the misappropriation of credit funds, such as receiving loans in advance, ceasing to issue the loans/financing
that are not issued under the Contract, ceasing to pay the loans/financing that are not paid under the Contract, reducing or ceasing the
credit facilities, and investigate the consequences of legal liabilities of the Company and you;
	 	 



	5.	The contract text provided by Industrial Bank Co., Ltd. is only a model text. Blank lines are left after
the relevant provisions of the contract and supplementary clauses are added at the end of the Contract for modification, addition or deletion
by each party;
	 	 



	6.	If you have any questions about this Contract, please consult Industrial Bank Co., Ltd. in time;
	 	 



	7.	If you find any violation of laws and regulations in the contract and the business charging matters under
the contract, you can make a complaint about the violation of laws and regulations by calling the complaint number of Industrial Bank
at _____.



 






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Upon the Borrower’s application, the Lender
reviews and agrees to give the Borrower a working capital loan. In order to clarify the rights and obligations of both parties and abide
by their credibility, the two parties to the Contract have signed this Contract in accordance with the relevant laws and regulations of
the People’s Republic of China and negotiated through equal consultation.


 


The Lender and the Borrower confirm that the loan
hereunder falls under the SECOND of the following circumstances:


 


FIRST: This contract is the sub-contract
signed by the Lender and the Borrower on/year/month/day with a serial No. as _______ 号 (i.e., the Main Contract). The loan
amount under this Contract is included in the credit line. The amount of foreign currency loan shall be converted into Renminbi into
the credit line according to the central parity of the Lender on the date of signing this Contract.


 


SECOND: This Contract is an independent legal
document signed by the Lender and the Borrower.


 


Article 1 Definition and interpretation


 


Unless otherwise agreed in writing by the parties
hereto, the following terms shall be defined and construed as follows:


 


	1.	“Working Capital Loan” means local and foreign currency loans applied for by the Borrower
to the Lender and used for daily production and turnover of the Borrower.
	 	 



	2.	“Claim” or Principal Creditor’s Right means creditor’s right to claim (including
to principal, interest, penalty interest, compound interest, liquidated damages, damages, creditor’s cost of realizing claims, etc.)
arising from the financing provided to the Borrower by the Borrower’s application and the Lender’s approval.
	 	 



“Creditor’s
Cost of Realizing Claims” means litigation (arbitration) fees, attorney fees, travel expenses, enforcement fees, security fees,
and other necessary expenses for realizing creditor’s rights when the Lender obtains claims through litigation and arbitration.


 


	3.	The following terms in Article 5 of this Contract are defined and explained as follows



 


“Fixed Interest
Rate” means an interest rate that remains constant during the term of loan.


 


“Floating Interest
rate” means the interest rate that varies during the term of the loan according to the period and range agreed by the Borrower and
the Borrower.


 


“Floating Period”
means the frequency of the change in the loan interest rate agreed by the Borrower and the Lender. The borrowing interest rate is calculated
and determined at the benchmark interest rate in accordance with the pricing method agreed in the Contract within a floating period and
the loan interest rate remains the same during the floating period; as one floating period expires and enters into the next floating period,
the loan interest rate is calculated and determined at the new benchmark interest rate in accordance with the pricing method agreed in
the Contract within a floating period and the loan interest rate remains the same.


 


“Pricing Basis
Interest Rate” means the interest rate standard used to determine the borrowing interest rate under the Contract, including but
not limited to quoted interest rates published in the PRC or relevant countries, regions and markets, such as LPR, SHIBOR, LIBOR, HIBOR,
SIBOR, RMB deposit basis interest rate of the Central Bank, etc.


 


“LPR”
means the quoted loan market interest rate calculated and published by the National Interbank Lending Center authorized by the People’s
Bank of China. According to the banking practice, both parties agreed to determine the pricing benchmark interest rate rule under the
Contract as LPR of T-1 Day. “T” means the date on which the loan is actually issued and “T-1” means one business
day before the loan issuing day.


 






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“SHIBOR”
means the Shanghai Interbank Offered Rate calculated and published by the National Interbank Lending Center.


 


“LIBOR”
means the London Interbank Offered Rate include USD, EUR, JPY, etc. According to banking practice, both parties agreed to set the benchmark
pricing interest rate rule under the Contract as LIBOR of T-2 Day. “T” means the date on which the loan is actually issued
and “T-2” means the next business day before the loan issuing day.


 


“HIBOR”
means the Hong Kong dollar interbank lending rate in Hong Kong financial markets. According to banking practice, both parties agreed to
set the pricing benchmark interest rate rule under the Contract as HIBOR of T-2 Date. “T” means the date on which the loan
is actually issued and “T-2” means the next business day before the loan issuing day.


 


“SIBOR”
means the Singapore Interbank Offered Rate in Singapore Dollar only. According to banking practice, both parties agreed to set the pricing
benchmark interest rate under the Contract as SIBOR of T-2 Day. “T” means the date on which the loan is actually issued and
“T-2” means the next business day before the loan issuing day.


 


“Central Bank’s
Benchmark Interest Rate for Renminbi Deposit” means the Benchmark interest rate for renminbi deposits announced by the Central Bank
that day.


 


Among them, the currencies
and specific values of “LPR”, “SHIBOR”, “LIBOR”, “HIBOR”, “SIBOR” and “Central
Bank’s Benchmark Interest Rate for Renminbi Deposit” determined according to the applicable pricing benchmark interest rate
rules under the Contract shall be subject to the results of the core system query of Industrial Bank. The date on which the borrowing
rate is determined may be the date on which the loan is actually issued, the date on which the contract is signed or the date on which
the loan is repriced.


 


“Borrowing
Rate” means the interest rate for the execution of the Contract, which is determined by the parties to the Contract through negotiation,
following the pricing formula of the borrowing rate of the Contract, and based on the pricing benchmark interest rate on the date when
the borrowing rate of the Contract is determined, and floating by adding or subtracting points.


 


	4.	The “Substantial Transaction” in Article 13 under this Contract means (including but not limited
to) any transaction determined to happen or potentially existing that might have serious impact upon company’s basic structure,
changes in company shareholders, contingent liabilities, cash flow, profitability, company’s core business secrets, company’s
core competitiveness, company’s important assets, company’s major claims and debts, ability to repay debts, ability to fulfill
this Contract, or any other transactions that the Borrower and/or the Lender considers constituting a substantial transaction.
	 	 



	5.	The “Major Event” in Article 13 means (including but not limited to) any events determined
to happen or potentially existing that might have serious impact upon the ability of the Borrower’s senior management to perform
their duties, the employment and termination of employees engaged in the company’s core business, the company’s core business
secrets, the company’s core competitiveness, the company’s basic structure, the company’s shareholder change, the company’s
contingent investigation, the company’s existence, and the legality of company’s engagement of business, stability of the
company, company development, company profitability, ability to pay debts in public blind positions, and company’s ability to perform
this Contract, or any other events that the Borrower and/or the Lender considers constituting a major event.
	 	 



	6.	The “working day” in this Contract means business days of the Lender bank or the next business
day if the date of withdrawal or repayment during performance of this Contract.



 






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Article 2 Amount of Loan


 


The Lender agrees to give to the Borrower RMB10,000,000.


 


Article 3 Usage of Loan


 


This loan is used for paying the fees of service,
etc., and the Borrower cannot misappropriate the loan without written consent of the Lender.


 


Article 4 Term of Loan


 


	1.	The term of loan lasts for 12 months from December 21, 2021 to December 20, 2022.
	 	 



	2.	The actual issuance date recorded in the loan debit note and loan certificate shall prevail if a loan
is made in a lump sum, and due date will be postponed accordingly if actual issuance date is later than such date recorded as set above.
	 	 



	3.	The loan use plan is



 


____(month)____(day)____(year)____yuan; ____(month)____(day)____(year) ____yuan;


____(month)____(day)____(year)____yuan; ____(month)____(day)____(year) ____yuan;


____(month)____(day)____(year)____yuan; ____(month)____(day)____(year) ____yuan;


____(month)____(day)____(year)____yuan; ____(month)____(day)____(year) ____yuan;


____(month)____(day)____(year)____yuan; ____(month)____(day)____(year) ____yuan;


 


The Borrower shall apply to the Lender withdrawal
procedures 3 working days before each withdrawal or at other times as required by the Lender in writing.


 


The Lender has the right to require the Borrower
to pay 0.01% of the loan amount that should be drawn in the current period as liquidated damages if the Borrower fails to withdraw the
loan in accordance with the loan use plan as set above.


 


	4.	Subject to the withdrawal conditions stipulated in Article 6 of this Contract, the Lender shall pay the
loan in accordance with Article 7 of this Contract.
	 	 



	5.	The Lender can appropriately adjust the loan use plan based on factors such as that whether the loan meets
the relevant laws, regulations and policies and withdrawal prerequisites stipulated in this Contract, the conditions for the payment of
loan, the signing of the guarantee contract corresponding to this Contract, or the processing time of guarantee procedures and any other
factors the Lender deem necessary.
	 	 



	6.	If the loan is used in multiple installments, the same date due shall be implemented, that is, the respective
maturities of the loans issued in the first period shall be the same as the maturity date determined by the borrowing receipt or loan
certificate of the first loan.
	 	 



	7.	The due date of loan is correspondingly advanced if the Lender collects the loan in advance according
to the situations agreed in this Contract.



 






    	 	5	 



     


    

 


Article5 Rate of Loan and Calculation of Interest


 


	1.	Rate of Loan
	 	 



	(1)	The benchmark interest rate for pricing shall be implemented in accordance with the following (i)
clause:
	 	 



		i.	the one year level of LPR



		ii.	the ___ level of SHIBOR



		iii.	the ___ level of LIBOR



		iv.	the ___ level of HIBOR



		v.	the ___ level of SIBOR



		vi.	the ___ level of Central Bank’s benchmark interest rate for renminbi deposits.



 


Among them, the RMB fixed-rate loan
should choose LPR as the pricing benchmark interest rate.


 


	(2)	Loan interest rate=benchmark interest rate+ 1.0 % or - / %.
	 	 



	(3)	Loan interest rate shall be implemented according to the following (i) clause:
	 	 



		i.	Fixed interest rate. The loan rate will be implemented in the (A) method: (A) the borrowing rate is determined
based on the pricing prime rate and the pricing company on the actual disbursement date, and the interest rate remains unchanged between
the actual disbursement date of each disbursement and the maturity date of the borrowing under this contract; (B) according to the pricing
benchmark interest rate on the signing date of the contract and the pricing formula, the fixed interest rate of the loan is / % of the
annualized interest rate. If there is any adjustment of the pricing prime rate on the actual issuance date, the value of the plus or minus
points in the pricing formula will be adjusted accordingly, and the above-mentioned annualized interest rate as agreed in this contract
will remain unchanged.



		ii.	Floating interest rate. The borrowing
                                            rate is determined based on the pricing benchmark interest rate and the pricing formula on
                                            the actual issue date and the repricing date, and interest is accrued in segments. The interest
                                            rate adjustment date will be implemented in the     /   
                                             method: (A) the floating period is by         /        (monthly/seasonal/semiannual/annual/others)
                                            with the corresponding date of each full cycle from the actual date of the loan being the
                                            contract interest rate adjustment date, and the corresponding date should be the last day
                                            in that month if there is no corresponding day; (B)    / .



During the borrowing
period, unless otherwise agreed in the Contract, the Borrower will no longer be notified if the benchmark interest rate is adjusted


		iii.	Other interest rate methods:      /
                                                               .
	 	 	 



	(4)	The benchmark interest rate for borrowings used in installments under this Contract shall be determined
based on the benchmark interest rate on the actual issue date of each loan (or the date of interest rate adjustment, if any).
	 	 



	(5)	As for the loans issued under this Contract, if the country or relevant countries/regions cancel the
benchmark interest rate, or the market no longer announces the benchmark interest rate, or as required by the regulatory authorities,
the Lender has the right to reset the interest rate according to national policy and, in accordance with the principles of fairness and
integrity, referring to the industry practice of interest rates, and notify the Borrower after resetting the interest rate. The Borrower
shall negotiate with the Lender if the Borrower disagrees in any way. The Lender has the right to collect loan in advance and the Borrower
shall pay off the remaining principal and interest immediately if no agreement can be reached within 5 working days from the date when
the Lender issues the notice.



 






    	 	6	 



     


    

 



	2.	Repayment of Loan Interest
	 	 



	(1)	Calculation of Loan Interest. The calculation of loan interest begins on transfer to the Borrower’s
account of the principal of the loan either/both in local and foreign currencies. Interest daily accrued on the loan=Balance of the day
*daily interest rate. The conversion of daily interest rate to annual interest rate shall be implemented in accordance with the regulations
of the People’s Bank of China and international practices.
	 	 



	(2)	The repayment method of loan interest is implemented according to the following (i) agreement:
	 	 



		i.	The date of repayment of loan interest is the 21th day each month (month/last month of the season/ last
month every half year/ last month each year/ others), and the Borrower shall pay the current loan interest to the Lender on the interest
payment date and settle the remaining principal and interest when the loan is due.



		ii.	The date of repayment of loan interest is the corresponding day (the last day of the month if there is
no corresponding day in the month) each month (monthly/seasonal/semiannual/annual/others), and the Borrower shall pay the current loan
interest to the Lender on the interest payment date and settle the remaining principal and interest when the loan is due.



		iii.	The first date of repayment is _____(month)_____(day) _____(year); The date of repayment of loan interest is the corresponding
day (the last day of the month if there is no corresponding day in the month) each month since the first repayment day, and the Borrower
shall pay the current loan interest to the Lender on the interest payment date and settle the remaining principal and interest when the
loan is due.



		iv.	Other repayment methods _____________________.
	 	 	 



	3.	Penalty Interest and Compound Interest
	 	 



	(1)	If the Borrower fails to use the loan for the purpose as agreed hereunder, the Lender may impose penalty
interest on the misappropriated part of the loan at the misappropriation penalty interest rate which is the rate _50_% higher than loan
interest rate; if the Borrower fails to make repayment in time, that is, such repayment overdues, the Lender may impose penalty interest
on overdue debt at the overdue penalty interest rate which is the rate _50_% higher than loan interest rate; for such interest (including
interest before and after loan maturity, misappropriation penalty and overdue penalty interest) if the Borrower fails to pay in time the
Lender may impose compound interest at the rate of overdue indebt according to agreement under this Contract. Where the same loan is both
overdue and not used for the purpose agreed in the contract, the penalty interest rate shall be calculated at a higher rate.
	 	 



	(2)	The penalty rate is also a fixed rate if the payment interest rate is a fixed rate; the penalty rate is
also a floating rate if the payment interest rate is a floating rate by a consistent floating period with the floating period of the borrowing
rate.
	 	 



	(3)	The penalty interest and compound interest are calculated in accordance with the loan interest repayment
method agreed in this Contract.



 






    	 	7	 



     


    

 










Article 6 Conditions for Withdrawal


 


	1.	the Lender shall not advance any loan to the Borrower until all following conditions have been satisfied
by the Borrower:
	 	 



		(1)	The Borrower has delivered the following documents to the Lender and the circumstances stated in the documents
have not changed and remain in force, or that the Borrower has given a satisfactory explanation and explanation of the changes to the
Lender;
	 	 	 



		i.	loan application: the main contents includes but are not limited to: the name, amount, purpose, term,
repayment plan, and repayment source of the loan project, etc.



		ii.	the Borrower’s legal and valid business license, company’s articles of association, loan card
and password / credit code, legal representative registered with the industrial and commercial administrative department and members of
the board of directors and principals, chief financial officer list and signature samples, legal representative, valid identity documents
of its authorized representative and other company documents the Lender deems necessary;












		iii.	the resolution of the board of directors or shareholders meeting that the Borrower meets in accordance
with legal procedures and is approved by a vote of a quorum of directors or shareholders, which is true, lawful and effective and agrees
to apply to the Lender for the loan hereunder and to specify the purpose of the loan and to accept the loan terms and conditions required
by the Lender, or any other company documents the Lender deems necessary;



		iv.	annual report (attached with audit report and notes) of the past three years approved by the Lender and
financial statements for the most recent period and the same period of the previous year, or statements for the year since inception if
the Borrower has only been established for less than three years;



		v.	information of affiliated enterprise;



		vi.	purchase contracts, order contracts, debt certificates and other related contracts, vouchers or information
if applying for temporary working capital loan;



		vii.	proof of ownership and valuation reports of the collateral/pledge if collateral/pledge is provided, and
the registration procedures of mortgage/pledge that should be completed in accordance with the requirements of relevant laws and regulations
shall have been properly handled and the original documents of ownership certificate, registration certificate, etc. shall have been handed
over to the Lender for collection in accordance with the requirements of the Lender; Relevant guarantee materials in accordance with the
above requirements if a third party guarantee is provided, and such guarantee contract shall be effective and such guarantee shall maintain
effective;



		viii.	The insurance procedure with the Lender as the first beneficiary shall have been completed and the original
insurance policy has been handed over to the Lender for collection if the Lender requires insurance for collateral/pledge; such insurance
shall be effective and maintain effective; the Borrower hereby transfers the right to claim the original insurance premium due to the
occurrence of the insurance event to the Lender if collateral/pledge is provided by the Borrower;



		ix.	production and operation license or enterprise qualification grade certificate issued by the competent
approving department for the special trade if the enterprise is in a special trade;



		x.	Relevant notarization procedures have been completed if either party of this Contract requires a notarization;



		xi.	The Borrower has opened an account with the Lender in accordance as required by the Lender with voluntary
acceptance of the Lender credit supervision and payment settlement supervision;



		xii.	The Borrower shall provide valid foreign exchange loan use certificate and approval from relevant authorities,
and comply with relevant foreign exchange management policies if the Borrower applies for a foreign exchange loan;



		xiii.	VAT, sales tax and income tax returns required by the Lender;



		xiv.	The Borrower has issued a letter of commitment on the use of the credit funds as required by the Lender;



		xv.	Other documents, reports, vouchers required by the Lender.



 






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		(2)	The Borrower is established in accordance with the law, the production and operation are legal and compliant,
and it has the capability of continuous operation and a legal source of repayment;
	 	 	 



		(3)	The purpose of the loan is clear and legal;
	 	 	 



		(4)	The statements and commitments made by the Borrower in Article 11 is true and valid and no default event
or potential default event has occurred on or before the date of application for the loan;
	 	 	 



		(5)	The Borrower has completed the debit or loan certificate related to the loan. The debit or loan certificate
is an integral part of this Contract and has the same legal effect as this Contract. The record on the debit or loan certificate shall
prevail if the amount of the loan, the term of the loan, and the interest rate on the loan under this Contract are inconsistent with the
records of the loan receipt or loan certificate;
	 	 	 



		(6)	The Borrower’s credit status stands good and there is no major bad record; its controlling shareholder
should have a good credit status and no major bad records if the Borrower is a newly established entity;
	 	 	 



		(7)	Other withdrawal prerequisites required by the Lender.
	 	 	 



	2.	The performance of the Lender’s obligations under this Contract is subject to the fulfillment of
the pre-conditions for withdrawal stipulated in this article. The Lender has the right to unilaterally decide to lower or abandon some
withdrawal prerequisites which the Borrower or guarantor shall not use as a reason to defend the Lender.
	 	 



	3.	The Lender has the right to appropriately adjust the issuance of loans based on factors such as whether
the financing project meets the relevant laws, regulations, policies, and the prerequisites for withdrawals required by the Lender, the
signing of the guarantee contract corresponding to this Contract, and the processing time of the guarantee formalities.
	 	 



	4.	The Borrower hereby agrees: after signing this Contract, if the Borrower fails to meet any of the pre-conditions
for withdrawal or payment of the loan as stipulated in this Contract, the Lender shall have the right to stop making the loan, stop paying
the loan funds or terminate this Contract and the liability or loss arising therefrom shall be borne by the Borrower. The Lender shall
notify the Borrower of the termination of the Contract and the opposition period for the Borrower is 5 days from the date of delivery
to the Borrower in the manner agreed herein the notice of termination. This Contract is automatically terminated after the objection period
expires if the Borrower bring up no objection. If the Borrower has an objection but both parties fail to negotiate within 5 working days
after the expiry of the objection period, the Lender has the right to collect the loan in advance according to this Contract.
	 	 



	5.	The Lender shall pay the Borrower the loan in accordance with Article 7 under this Contract if the Borrower
meets the pre-conditions for withdrawal stipulated in this Contract after examination and verification by the Lender.



 


Article 7 Account Monitoring and Loan Payment


 


	1.	According to the relevant national laws and regulations and regulatory system requirements,the
Borrower promises to meet the pre-conditions for withdrawal agreed in the Contract before applying for the loan, and accepts the Lender’s
supervision of the use of the loan according to the agreed purpose. The Lender has the right to monitor the basic deposit account, general
deposit account and special deposit account opened by the Borrower, and supervise and control the issuance, payment and sale of loan funds
in accordance with the contract.



 






    	 	9	 



     


    

 


The Borrower designates
the following accounts as special fund withdrawal accounts and should provide the information of the loan flowing in and out of the account
in time.


 


Username:
[*] 


Account: [*]              


Bank Name: Xiamen
Branch Office of Industrial Bank Co., Ltd. 


 


The Lender can sign
a separate account management agreement with the Borrower in accordance with the Borrower’s credit status, financing situation,
etc., and clearly stipulate the management of the withdrawal of the designated account. The Lender shall have the right to recover the
loan in advance based on situations of withdrawal of the designated account.


 


	2.	Payment of Loan
	 	 



		(1)	The Lender shall have the right to manage and control the payment of loan by means of the Lender’s
entrusted payments or the Borrowers’ independent payments;
	 	 	 



		i.	“Trusted payment” by the Lender means that the Borrower authorizes the Lender to pay the loan
to the Borrower’s counterparty that meets the purposes agreed in this Contract;



Where the Lender’s
entrusted payment method is used, the Borrower shall provide a loan in accordance with the Contract before the loans are issued. The relevant
transaction data of the purpose shall be paid to the Borrower’s counterparty in a timely manner through the Borrower’s account
after the examination and approval of the Lender.


Where the Lender’s
entrusted payment method is used, the Lender shall have the right to collect the loan in advance according to Article 12 of this Contract
if the loans released are returned due to the withdraw, cancellation, invalidation of the underlying transaction contract, etc., after
the loans are paid to the counterparties of the Borrower.


		ii.	“Self-Payment” by the Borrower means that the Borrower shall pay to the his counterparty for
the purposes consistent with this Contract after the Lender has released the loan to the Borrower’s account.



Where the self-payment
by the Borrower is used, the Borrower shall regularly report to the Lender the payment of the loan and the Lender shall have right to
verify whether the loan payment conforms to the agreed purpose through account analysis, voucher inspection, and on-site investigation.


 


		(2)	Entrusted Payment.
	 	 	 



Method of entrusted
payment should be used in one of the following situations that:


 


		i.	the Borrower and the Lender have newly established a credit business relationship and the internal rating
of the Borrower at the Lender is below B3(included). “Newly established credit business relationship” means a credit business
relationship established by the Borrower and the Lender for the first time or no credit business relationship occurs during the last 2
years.



		ii.	Working capital borrowings for replacement;



		iii.	Single payment amount exceeds RMB10,000,000 (included) (where a loan is borrowed in foreign currency,
it shall be converted according to the reference price published by the Lender on the day of payment) or the payment target is clear.



		iv.	Others:__________________



 






    	 	10	 



     


    

 



		(3)	In the process of loan issuance and payment, the Lenders shall have the right to adopt stricter conditions
for the issuance and payment of loans, stop the issuance and payment of loans and take corresponding measures according to Article 14
(2) of this Contract and conditions for supplementary loan issuance and payment shall be added if the Borrower/the Borrower’s:
	 	 	 



		i.	has a decline in credit standing;



		ii.	profitability of the main business is not strong;



		iii.	shows an abnormal use of loan;



		iv.	what other the Lenders thinks.



 


Article 8 Repayment of Principal and Interest


 


	1.	The repayment of principal under this Contract is by the following (2) method:
	 	 



		(1)	Repayment of the principal in installments scheduled as the following:



 


_____(month)_____(day)_____(year)_____yuan; _____(month)_____(day)_____(year)_____yuan;


_____(month)_____(day)_____(year)_____yuan; _____(month)_____(day)_____(year)_____yuan;


_____(month)_____(day)_____(year)_____yuan; _____(month)_____(day)_____(year)_____yuan;


_____(month)_____(day)_____(year)_____yuan; _____(month)_____(day)_____(year)_____yuan;


 


If the Lender adjusts
the installments plan, and the amortization date and amount of the loan stipulated in these terms remain unchanged, the Borrower shall
repay the loan principal on schedule.


 


		(2)	Repayment of the principal in a lump sum on the due date of the loan.
	 	 	 



		(3)	Other repayment of the principal: ____________________________.
	 	 	 



	2.	The Borrower shall repay the loan principal and interest hereunder in full and on time to the Lender on
the repayment date and interest payment date agreed in this Contract.
	 	 



	3.	If the repayment date is a non-the Lender’s business day, repayment will be postponed to the next
the Lender’s business day, and the non-the Lender’s business day will be included in the actual days of the loan. When the
Borrower repays the principal of the last period of loan, he shall pay the interest in full with the principal and shall not be bound
by the interest payment date stipulated in Article 5 of this Contract.
	 	 



	4.	The Borrower shall submit to the Lender an application for extension in writing 10 days before the due
date of loan if the Borrower fails to repay the loan on time under this Contract and gets in need of an extension of repayment. Approved
by the Lender upon examination, both parties shall separately sign a Loan Extension Contract as a supplementary contract to this Contract.
	 	 



	5.	Prepayment



 


The Borrower shall
repay the principal and interest of the loan in accordance with the date agreed in this Contract.


 


The Borrower should
notify the Lender in writing 10 working days in advance and obtain the Lender’s written consent if the Borrower requests to repay
the principal and interest of the loan in full or in part in advance. The Borrower shall negotiate with the Lender to determine the repayment
period, repayment time and repayment amount after certain repayment of part of the principal and interest of the loan in advance. Interest
shall be calculated and collected on the loan principal repaid in advance according to the actual term of use and the loan interest rate
agreed under this Contract and the Lender will no longer adjust the loan interest that has been charged before the prepayment.


 


The Lender shall
have the right to require the Borrower to pay liquidated damages at _____% of the amount of repayment in advance when the Borrower requests
repayment in advance.


 






    	 	11	 



     


    

 


	6.	The Borrower hereby irrevocably authorizes the Lender to deduct money, including but not limited to
the principle and interest of loan (including principle, interest, penalty and compound interest), default, damage, and related expenses
and costs incurred by the Lender to satisfy the claim under this Contract, from the Borrower’s accounts opened at the Lender, branches
and subsidiaries of Industrial Bank Co., Ltd. without going through judicial procedures when the Borrower fails to perform or conducts
any breaches of this Contract. The Borrower agrees that the Lender has the right to determine the specific deduction sequence. If
the currency of the money in the account is inconsistent with the borrowing currency, the Lender has the right to convert it into the
borrowing currency at the intermediate price announced by the Lender on the date of collection. If any account agreed in this paragraph
involves wealth management products or structured deposits and other products, the Borrower hereby irrevocably authorizes the Lender to
directly initiate the application for redemption of relevant products or take other necessary measures on behalf of the Lender to ensure
the smooth collection of the above-mentioned money, and the Borrower shall provide all necessary cooperation.



 


Article 9 Security


 


	1.	The following contracts are the guarantee contracts of this Contract:
	 	 



		(1)	Guarantee Contract of Maximum Amount (name of the contract), No. [*], method of security: joint
guarantee, joint guarantor: Huang Zhuoqin.
	 	 	 



		(2)	Guarantee Contract of Maximum Amount (name of the contract), No. __________, method of security: __________, joint guarantor:
__________.
	 	 	 



		(3)	Guarantee Contract of Maximum Amount (name of the contract), No. __________, method of security: __________, guarantor: __________.
	 	 	 



		(4)	Guarantee Contract of Maximum Amount (name of the contract), No. __________, method of security: __________, guarantor: __________.
	 	 	 



		(5)	Guarantee Contract of Maximum Amount (name of the contract), No. __________, method of security: __________, guarantor: __________.
	 	 	 



		(6)	Guarantee Contract of Maximum Amount (name of the contract), No. __________, method of security: __________, guarantor: __________.
	 	 	 



	2.	In addition to the above-mentioned signed guarantee contract, in
case of exchange rate fluctuation or any other event that the Lender considers may affect the performance of the Borrower or the Guarantor,
the Lender has the right to require the Borrower to supplement the security deposit or provide a new guarantee, and sign the relevant
guarantee contract, and the Borrower shall cooperate with the Lender as required.
	 	 



	3.	The Lender shall have the right not to perform all obligations such as lending under this Contract until
the signing of the guarantee contracts are signed and the completion procedure completion of the guarantee procedures.



 






    	 	12	 



     


    

 


Article 10 Rights and Obligations


 


	1.	The Lender’s Rights and Obligations
	 	 



	(1)	The Lender shall have right to:
	 	 



	i.	require the Borrower to repay the principal and interest of the loan according to schedule;



	ii.	require the Borrowers to provide various information and materials related to the loan;



	iii.	understand the production, operation and financial status of the Borrower;



	iv.	supervise the use of loans by the Borrower for the purposes agreed in this Contract;



	v.	monitor loan usage and make requests;



	vi.	decide the specific repayment and deduction order when paying off where the borrower bears multiple debts
of the same kind to the lender, and the borrower’s allocation is insufficient or may be insufficient to pay off all debts;



	vii.	deduct money, including but not limited to the principle and interest of loan (including principle, interest,
penalty and compound interest), default, damage and related expenses and costs incurred by the Lender to satisfy the claim under this
Contract, from the Borrower’s accounts opened at the Lender, branches and subsidiaries of Industrial Bank Co., Ltd. without going
through judicial procedures. The Borrower agrees that the Lender has the right to determine the specific deduction sequence. If the currency
of the money in the account is inconsistent with the borrowing currency, the Lender has the right to convert it into the borrowing currency
at the intermediate price announced by the Lender on the date of collection. If any account agreed in this paragraph involves wealth management
products or structured deposits and other products, the Borrower hereby irrevocably authorizes the Lender to directly initiate the application
for redemption of relevant products or take other necessary measures on behalf of the Lender to ensure the smooth collection of the above-mentioned
money, and the Borrower shall provide all necessary cooperation;



	viii.	transfer all or part of the creditor’s rights and security interests under the Contract to a
third party at any time without obtaining the consent of the Borrower. When the Lender transfers the loan and security interest under
the Contract, the Borrower shall still assume all obligations under the Contract;



	ix.	submit and disclose the information of the borrower’s breach of contract and dishonesty to the People’s
Bank of China and its credit investigation institutions and credit investigation systems established or approved, or to banking associations,
banking supervision institutions or other administrative/judicial/inspection departments and their information management systems or news
media established or approved, At the same time, it may take or jointly take with other banking financial institutions such measures as
reduction or suspension of credit, suspension of opening of new settlement accounts, suspension of the borrower’s legal representative/the
Borrower’s new credit card, and so forth when the Borrower fails to repay the loan principal and interest as agreed in the contract,
or fails to fulfill the repayment of principal and interest, or violates any contractual obligations under the Contract;;



	x.	require the Debtor to supplement the pledge guarantee such as security deposit or implement other risk
mitigation measures when the Creditor considers that the security of its Creditor’s right may be affected due to exchange rate fluctuation;



	xi.	make unilateral decision to collect the loan in advance According to the withdrawal of the loan;



	xii.	enjoy other rights stipulated by laws, regulations, rules or this Contract.



 






    	 	13	 



     


    

 



	(2)	The Lender has obligation to
	 	 



	i.	issue and pay the loan according to this Contract;



	ii.	keep confidential the Borrower’s debt financial production and operation unless:
	 	 



		1	laws and regulations require;



		2	regulatory Authorities regulate or require;



		3	to disclose to the Lender’s partners, etc.
	 	 	 



	2.	The Borrower’s Rights and Obligations
	 	 



	(1)	The Borrower shall have right to:
	 	 



		i.	draw and use all the loan as agreed in this Contract;



		ii.	require the Lender to undertake confidentiality obligations on the information they provide in accordance
with this Contract.
	 	 	 



	(2)	The Borrower has obligation to:



 


		i.	provide truthfully the documents and information required by the Lender, as well as the account numbers
of all Banks and the balance of deposits and loans, and cooperate with the Lender’s investigation and examination;



		ii.	accept the Lender’s supervision or inspection of its use of loans, of related production operations
and financial activities, and take reasonable measures in accordance with the Lender’s suggestions or requirements;



		iii.	use the loan for the purposes agreed in this Contract without conducting misappropriations and guarantee
not to use the loan for fixed assets investment; not to use the load to engage in equity investments; not to use the loan in areas and
uses prohibited by the state for production and operation; not to use the loan to speculate or invest in financial products such as stocks,
securities, futures and wealth management products; not to use the loan to buy and sell securities, futures, real estate, etc.; not to
use the loan to engage in lending activities between enterprises or between enterprises and individuals; not to seek illegal income; not
to obtain credit funds through illegal ways, not to occupy or misappropriate loans in other ways; not to use the loan to engage in other
illegal activities or other areas in violation of national laws and policies; not to use the loan to engage in areas that regulators ban
from bank credit funds;



		iv.	accept the Lender’s monitoring of the Borrower’s account and the management of the payment
of the loan according to Article 7 of this Contract



		v.	repay the principal and interest of the loan in full and on time in accordance with the Contract;



		vi.	not to transfer all or part of the debts under this Contract to a third party without the Lender’s
consent in writing;



		vii.	not to reduce registered capital in any way; not to extend the subscription period of registered capital
without the Lender’s consent in writing;



 






    	 	14	 



     


    

 



		viii.	notify the Lender at least 30 working days in in advance and obtain the Lender’s written consent
and proactively implement, with the requirements of the Lender, guarantee measures to repay the principal and interest of the loan under
this Contract in full and in accordance when intending to conduct merger, split-up, equity transfer, foreign investment, substantial increase
in debt financing and other major issues including but not limited to:
	 	 	 



		1	that his loan of or liability to banks or a third party, loans to third parties, guarantee for a third
party’s debt or other kinds of substantial increase of debt financing influences or might have influence upon the Borrowers repayment
of the principle and interest of the loan;



		2	that the Borrower conducts major changes of property rights and adjustment of business methods (including
but not limited to signing joint ventures and cooperation contracts with foreign, Hong Kong, Macao and Taiwan businessmen; cancellations,
closures, suspensions, and conversions; divisions, mergers, acquisition, and passive mergers; reorganization, formation, or transformation
into a joint-stock company; foreign investment; investing in shareholding or investment companies using fixed assets such as houses, machinery,
and equipment or intangible assets such as trademarks, patents, proprietary technologies, land use rights, etc., and transactions of property
rights and management rights are carried out by means of lease, contract, joint venture, trust );



		3	that the Borrower’s changes in equity have been achieved %(including but not limited to equity transfer,
custody, escrow, pledge, etc.)
	 	 	 



		ix.	notify the Lender in writing within 7 working days since the date of occurrence possibility of the
following circumstances:
	 	 	 



		1	major financial loss, asset loss, or other kinds of financial crisis;



		2	suspension of business, suspension or cancellation of business license, application or application for
bankruptcy, dissolution;



		3	controlling shareholder and other related companies encountering a major crisis in the operation or finance
affecting its normal operations;



		4	personnel changes of the legal representative, director or senior management of the Borrower affecting
its normal operations;



		5	guarantors’ changes in equity achieving %(including but not limited to equity transfer, custody,
escrow, pledge, etc.);



		6	material related transactions between the Borrower and its controlling shareholder and other related companies
affecting its normal operations;



		7	any litigation, arbitration or criminal or administrative penalty that has a material adverse effect on
its business or property;



		8	other significant matters that may affect its ability to service its debts;



and actively implement
the guarantee measures for the repayment of the principal and interest of the loan under this Contract in full and in accordance with
the requirements of the Lender;


 


		x.	at the request of the Lender (such requests shall be made notice of to the Borrower in a reasonable way
in advance unless such occurrence of a potential default or certain particular environment makes it unnecessary) allow the Lender’s
representative to perform the following activities during normal office hours:
	 	 	 



		1	visit the location where the Borrower conducts business activities;



		2	inspect the Borrower’s premises, facilities, factories and equipment;



		3	check the Borrower’s accounting books and all other records;



		4	inquire employees, agents, contractors, subcontractors of the Borrower who know or may know the relevant
information required by the Lender;



 






    	 	15	 



     


    

 



		xi.	guarantee that during the term of loan the current assets, net worth, the asset-liability ratio and current
ratio, etc. shall be kept within the following limits as required by the Lender: ________;
	 	 	 



		xii.	sign and deliver the return receipt to the Lender for any collection letter or collection document sent
by the Lender to the Borrower or otherwise served by the Lender.



 


Article 11 Declaration and Commitment of the Borrower


 


The
Borrower makes the following statements and commitments voluntarily, and assumes legal responsibility for the authenticity of its content:


 


	1.	The Borrower is a legal entity established and effectively existing in accordance with the laws of the
People’s Republic of China with full capacity for civil conduct. The Borrower guarantees to provide relevant testimonials, permits,
certificates and other documents required by the Lender as per the requirements of the Lender.
	 	 



	2.	The Borrower has sufficient ability to perform all the obligations and responsibilities hereunder, and
does not reduce or relieve the liability for liquidation it borne due to any instructions, changes in financial conditions, or any agreements
between any unit.
	 	 



	3.	The Borrower has sufficient power, authorization and statutory rights to sign this Contract. The Borrower
has obtained and performed all its internal approvals and authorizations or other relevant procedures required to sign and perform this
Contract, and has obtained and performed all necessary approvals, registrations, authorizations, consents, permits, or other relevant
formalities of any government department or other authority required to sign and perform this Contract. All approvals, registrations,
consents, permissions, authorizations, and other relevant formalities required to sign this Contract are fully legal and effective.
	 	 



	4.	The signing of this Contract by the Borrower is in full compliance with the relevant regulations, internal
decisions of the Borrower, and the resolutions of the shareholders’ meeting and the board of directors. This Contract also does
not conflict with or violate any regulations, internal decisions of the Borrower, resolutions of the shareholders’ meetings and
the board of directors, and policies of the Borrower.
	 	 



	5.	The signing and performance of this Contract is based on the true intention of the Borrower. The loan
financing complies with the requirements of laws and regulations, and the signing and performance of this Contract has not violated any
laws, regulations, rules or agreements hereof that are binding on the Borrower. This Contract is legally valid and enforceable. In case
that the Contract is invalidated due to defects of rights of the Borrower when signing and performing the Contract, the Borrower should
immediately and unconditionally compensate the Lender for all losses.
	 	 



	6.	All documents, financial statements and other information provided by the Borrower to the Lender hereunder
are true, complete, accurate and effective, and continue to maintain all financial indicators required by the Lender.
	 	 



	7.	The Borrower agrees that the loan business hereunder is subject to the rules, conventions and practices
of the Lender. The Lender has the right to recover the loan in advance according to the withdrawal of the Borrower’s funds.
	 	 



	8.	Where the Borrower bears multiple debts of the same kind to the Lender, and the Borrower’s payment
is insufficient or may be insufficient to pay off all debts, the Lender shall decide the specific repayment or deduction order.



 






    	 	16	 



     


    

 



	9.	In case that the Borrower fails to perform his obligations as agreed herein, the Borrower hereby authorizes
the Lender to deduct principal and interest (including principal, interest, penalty interest and compound interest) of the loan, liquidated
damages, damages, and related expenses hereunder directly from any account opened by the Borrower in the Lender and all branches and subsidiaries
of Industrial Bank Co., Ltd. without judicial process. The Borrower agrees that the Lender has the right to determine the specific collection
order. If the currency of the money in the account is inconsistent with the borrowing currency, the Lender has the right to convert it
into the borrowing currency at the intermediate price announced by the Lender on the date of collection. If any account agreed in this
paragraph involves wealth management products or structured deposits and other products, the Borrower hereby irrevocably authorizes the
Lender to directly initiate the application for redemption of relevant products or take other necessary measures on behalf of the Lender
to ensure the smooth collection of the above-mentioned money, and the Borrower shall provide all necessary cooperation.
	 	 



	10.	Whether prior to or subsequent to the signing of this Contract, in case that the Borrower submits any
documents related to the specific transaction to the Lender for review, the Borrower guarantees the authenticity of all documents. The
Lender will only make a decision on the apparent authenticity of the transaction documents. The Lender neither participates in nor is
aware of the specific transaction nature that the Borrower engages in, nor assumes any liability.
	 	 



	11.	The Borrower confirms that, in addition to the circumstances disclosed in writing to the Lender, the Borrower
has not concealed any of the following events that have occurred or are about to occur which may cause the Lender to disagree with the
issue of loans hereunder:
	 	 



		(1)	the debts or contingent liabilities assumed by the Borrower, including but not limited to any mortgage,
pledge, lien and other debt burdens on the assets or income of the Borrower which are not disclosed to the Lender;



		(2)	major disciplinary, illegal, or claimed incidents involving the Borrower or the Borrower’s main
management personnel;



		(3)	any event of a the Borrower’s default in a credit and debt contract between the Borrower and any
other creditors;



		(4)	that the Borrower does not have, nor does it exist, any litigation, arbitration or administrative litigation
against it or its property that may be pending or be aware by the Borrower, and whether initiated by itself or initiated by a third party,
no liquidation or closing or other similar procedures specific to the Borrower occur;



		(5)	other conditions that may affect the Borrower’s financial status and solvency status.
	 	 	 



	12.	The Borrower promises to use the loan for the purpose agreed hereupon, and not to misappropriate it to
other purposes or use it for any other purposes that may breach the purpose of the agreements hereof. The Borrower accepts and cooperates
with the Lender at any time to perform loan payment management, post-loan management and related inspections, cooperates with the Lender
to monitor, inspect and count on the Borrower’s use of the loan funds, the Borrower’s production and operation, financial
activities, material inventory, assets and liabilities, bank deposits, cash inventory and other circumstances, and cooperates with other
requirements as deemed necessary or appropriate by the Lender.
	 	 



	13.	The Borrower shall provide full, valid guarantee accepted by the Lender or other acceptable guarantee
as deemed appropriate by the Lender. Where the guarantee hereunder involves real estate mortgage, the Borrower agrees to complete the
evaluation procedures as the entrustor and bear relevant evaluation costs. When the Borrower knows the information that the mortgaged
house will be demolished, it shall promptly perform the notification of obligation to the Lender; where the mortgaged house is demolished,
as for using property rights exchange for compensation, the Lender has the right to require the Borrower to pay off the debt in advance,
or to re-set up the mortgage and sign a new mortgage agreement, and when the original mortgaged real estate has vanished and the registration
of the new mortgage has not been completed, a guarantor who guarantees with the guarantee conditions shall be provided. Where the demolished
real estate is compensated by compensation, the Borrower is responsible for requiring the mortgagor to continue to use the demolition
compensation to provide guarantee for the main creditor’s rights through the form of a special deposit account or certificate of
deposit.



 






    	 	17	 



     


    

 



	14.	The Borrower shall not reduce the registered capital in any way. No part or all of the debts hereunder
may be transferred to a third party without prior written consent of the Lender. Before the debts hereunder are fully settled, any debts
of the Borrower and other creditors (except other branches of Industrial Bank Co., Ltd.) must not be settled in advance without written
consent of the Lender.
	 	 



	15.	The Lender shall be notified in a timely manner in case that a major adverse event affecting the Borrower’s
ability to repay the debt occurs. Written consent of Lender shall be obtained before major issues such as merger, division, equity transfer,
external investment, and substantial increase in debt financing.
	 	 



	16.	In case that litigation or arbitration or other disputes between the Lender and the Borrower or any third
party related to the Borrower occur, as a result of the Lender’s fulfilling its obligations hereunder, which causes the Lender to
be forced to become involved in any dispute between the Borrower and any third party, the litigation or arbitration fees, lawyer’s
fees and other fees thereof paid by the Lender shall be borne by the Borrower.
	 	 



	17.	The Borrower must handle the settlement business through the settlement account opened in the Lender.
	 	 



	18.	The Borrower promises that the information disclosed in the National Enterprise Credit Information
Publicity System is true, complete, legal and valid, and promises persistently to agree with the Lender’s inquiries for the information
that the company chooses to publicize or not chooses to publicize in the system. In case that the Lender requires capital verification,
the Borrower shall agree to perform capital verification in accordance with the requirements of the Lender and provide a capital verification
report issued by a professional institution.
	 	 



	19.	The Borrower hereby declares and authorizes: the Lender has the right to conduct necessary investigation
on the credit condition of the Borrower in accordance with the national laws, regulations and relevant policies, including inquiring the
credit information of the Borrower from the financial credit information basic database established by the state, and may submit relevant
credit information to the national financial credit information basic database in accordance with the requirements of the People’s
Bank of China for credit investigation of construction enterprises and individuals, and allow relevant information to be inquired legally
within the scope of authorization.
	 	 



	20.	The Borrower hereby declares and authorizes: the Lender has the right to submit the information about
the Contract and other relevant information to the administrative/judicial/supervisory departments, banking regulators, banking associations
and other relevant information management departments, institutions and their established or approved information management systems,
and allow the relevant information to be legally queried.
	 	 



	21.	In case that the Borrower defaults under this Contract, or in case that there is a situation that may
endanger the Lender’s realization of creditor’s rights, the Lender has the right to require the Borrower’s shareholders
to accelerate maturity of their obligation to subscribe capital contribution, and the Borrower promises that its shareholders shall timely
subscribe capital as required by the Lender. The Lender has the right to require the Borrower and its shareholders not to share out dividends.
	 	 



	22.	The borrower promises that the transaction background of this Contract is true and legal, and not used
for illegal purposes such as money laundering.



 






    	 	18	 



     


    

 



	23.	The Borrower hereby irrevocably undertakes that in case of breach of any contractual obligations under
the Contract, the Lender may submit and disclose the information of the Borrower’s breach of trust to the People’s Bank of
China and its credit investigation institutions and credit investigation systems established or approved by the People’s Bank of
China, or to banking associations, banking supervision institutions or other administrative/judicial/supervisory departments and their
information management systems or news media established or approved by the People’s Bank of China.



 


At the same time, the Borrower irrevocably
authorizes the relevant banking associations to share the information of the Borrower’s dishonesty among banking financial institutions
or even publicize it to the public in an appropriate way.


 


The Borrower knows that the Lender
has the right to take various measures in accordance with the agreement in the contract, and knows that the Lender has the right to take
or banking financial institutions have the right to jointly take joint disciplinary and rights protection measures for breach of trust,
such as reducing or suspending credit, ceasing to open a new settlement account, and ceasing the new credit card of the legal representative
of the Borrower/the Borrower.


 


	24.	Other matters that the Borrower declares and promises: .



 


Article 12 Collecting the Loan in Advance


 


	1.	During the loan period, when one of the following situations occurs to the Borrower or guarantor (including
the guarantor or mortgagor or pledger, the same below), the Lender has the right to unilaterally decide to stop paying to the Borrower’s
the rest of the loan and recover part or all of the principle and interest of it in advance. As for the amortization loan, where the Lender
receives a loan in advance in accordance with the Contract, the other undue loans shall be deemed to be due in advance:
	 	 



		(1)	where false materials are provided or important business financial facts are concealed, and any item submitted
to the Lender, any certifications and documents, and any item of the statements and commitments in Article 11 hereof is proved to be untrue,
inaccurate, incomplete or intentional misleading;



		(2)	where changing the original purpose of the loan without the consent of the Lender, misappropriating the
loan or using the loan to engage in illegal or rules-violating transactions;



		(3)	where using false contracts with affiliated parties to discount or pledge to the Lender and obtain funds
or credit from the Lender by notes receivable and receivables with no actual trade background;



		(4)	where refusing to accept the Lender’s supervision and inspection on the use of its credit funds
and related financial operations;



		(5)	where major events such as merger, division, acquisition, restructuring, equity transfer, external investment,
and substantial increase in debt financing occur, which the Lender considers that such matters may affect the safety of loan;



		(6)	where there is intent to evade the Lender’s credit rights through affiliated transactions;



		(7)	where the credit status has deteriorated and the solvency (including contingent liabilities) weakened
significantly;



		(8)	where the situation of cross-default at Article 15 hereof occurs to the Borrower or the affiliated enterprise
of the Borrower and the guarantor or affiliated enterprise of the guarantor;



		(9)	where the Borrower fails to repay the principal and interest of any financing hereunder punctually;



		(10)	where the Borrower ceases to pay its debts, or fails to pay or indicates that it cannot pay its due debts;



 






    	 	19	 



     


    

 



		(11)	where the Borrower ceases business, goes out of business, is declared bankrupt, dissolves, has its business
license revoked, is revoked, has its financial situation deteriorated or others;



		(12)	where the Borrower fails to perform the obligations stipulated in Article 10 and Article 13 hereof and
the other obligations stipulated herein, or the guarantor fails to perform the obligations stipulated in the guarantee Contract;



		(13)	where the value of the collateral or pledge used for guarantee has been or may be significantly reduced,
or the right to pledge must be realized prior to the loan maturity;



		(14)	where abnormal changes, disappearances, and investigations or restrictions on personal freedom by the
judicial authorities in accordance with the law of the legal representatives, major individual investors, directors, supervisors, senior
management personnel of the Borrower or guarantor have already or may affect the performance of obligations hereunder;



		(15)	where the Borrower/guarantor or the Borrower/guarantor’s controlling shareholder, actual controller
or its affiliated person is involved in major lawsuits, arbitrations or other disputes, or its major assets are sealed up, frozen, deducted,
enforced or taken other measures with similar efficacy, which may endanger or damage the rights of the Lender;



		(16)	where other events otherwise stipulated herein, or other events that endanger, damage or may endanger
or damage the rights of the Lender according to the withdrawal of the Borrower’s funds occur.
	 	 	 



	2.	Where the above-mentioned loan collection occurs in advance, the Lender can unilaterally decide whether
or not to grant a certain grace period to the Borrower depending on the Borrower’s production and operation, financial status and
withdrawal of funds. Where the Lender grants the Borrower a grace period, within the grace period, the Borrower has not taken remedial
measures or the remedial measures taken do not meet the requirements of the Lender, the Lender has the right to unilaterally decide to
collect the loan in advance; the Lender also may not grant the Borrower grace period and decide to collect the loan in advance directly.
	 	 



	3.	When the loan is collected in advance, the Lender has the right to take corresponding measures in accordance
with Article 14.2 hereof.



 


Article 13 Obligation of the Borrower to disclose
Major Transactions and Major Events to the Lender


 


	1.	The Borrower shall report the Lender in writing the major transactions and major events that happened
to the Borrower.
	 	 



	2.	In case that the Borrower is a group client, the Borrower shall promptly report affiliated transactions
of more than 10% of the Borrower’s net asset to the Lender in accordance with relevant regulations; including but not limited to:
	 	 



		(1)	the affiliated relationship of the parties in the transaction;



		(2)	transaction items and transaction nature;



		(3)	the amount of the transaction or the corresponding proportion;



		(4)	pricing policies (including transactions with no amount or only with symbolic amount).
	 	 	 



	3.	If there is a significant change in the basic conditions of the contract that cannot be foreseen at the
time of signing the Contract and does not belong to commercial risks and needs to be renegotiated, the Lender shall be notified in a timely
manner within three working days after such change occurs.



 






    	 	20	 



     


    

 


Article 14 Liability for Breach of Contract


 


	1.	After the Contract comes into effect, both the Borrower and the Lender shall perform their obligations
agreed hereunder. In case that either party fails to perform or does not fully perform its obligations agreed hereunder, it shall bear
corresponding liabilities for breach of Contract.
	 	 



	2.	Where the Borrower has not used the loan for the purposes agreed herein, failed to pay the loan funds
in the agreed manner, failed to comply with the statement and commitment items, distorted information in the loan application document,
exceeded the agreed financial indicators, had a major cross-default event, and failed to perform any of the terms agreed herein, the Lender
has the right to take one or more of the following measures:
	 	 



		(1)	to demand correcting the breach within a time limit;



		(2)	to stop issuing the unissued loans hereunder, and stop paying the unpaid loan fund hereunder;



		(3)	to require the Borrower to supplement and provide payment issuance and payment condition of loans that
meet the requirements of the Lender, or cancel the Borrower’s use of the loan in an “autonomous payment” manner;



		(4)	to unilaterally decide that all or part of the debt to be due in advance;



		(5)	to unilaterally terminate or dissolve this Contract, require the Borrower to settle the principal and
interest of the due or undue loan, and pay or compensate related losses;



		(6)	to require the Borrower to pay the overdue penalty interest in case that the loan is overdue; to pay the
penalty interest for misappropriation in case that the Borrower misappropriates the loan; to pay the compound interest of the unpaid interest;



		(7)	to require the Borrowers to add or replace the guarantor, collateral, pledge/ the right for pledge;



		(8)	to exercise or realize the rights under any security item in respect of the loan;



		(9)	to deduct payment, including but not limited to the principle and interest of loan (including principle,
interest, penalty and compound interest), default, damage and related expenses and costs incurred by the Lender to satisfy the claim under
this Contract, from the Borrower’s accounts opened at the Lender, branches and subsidiaries of Industrial Bank Co., Ltd. without
going through judicial procedures when the Borrower fails to perform or conducts any breaches of this Contract. The Borrower agrees that
the Lender has the right to determine the specific deduction sequence. If the currency of the money in the account is inconsistent with
the borrowing currency, the Lender has the right to convert it into the borrowing currency at the intermediate price announced by the
Lender on the date of collection. If any account agreed in this paragraph involves wealth management products or structured deposits and
other products, the Borrower hereby irrevocably authorizes the Lender to directly initiate the application for redemption of relevant
products or take other necessary measures on behalf of the Lender to ensure the smooth collection of the above-mentioned money;







		(10)	to file a lawsuit or arbitration to demand the Borrower to settle principal and interest of the loan.
The cost for the creditor to realize its rights of credit shall be borne by the Borrower;



		(11)	to have the right to distrain or retain any movable property or real property, tangible or intangible
property of the Borrower that are under the control and possession of the Lender, or take other measures deemed appropriate by itself;



		(12)	to have the right to submit and disclose the information of the Borrower’s breach of trust to the
People’s Bank of China and its credit investigation institutions and credit investigation systems established or approved by the
People’s Bank of China, or to banking associations, banking supervision institutions or other administrative/judicial/supervisory
departments and their information management systems or news media established or approved by the People’s Bank of China. The Lender
also has the right to take or banking financial institutions have the right to jointly take joint disciplinary and rights protection measures
for breach of trust, such as reducing or suspending credit, ceasing to open a new settlement account, and ceasing the new credit card
of the legal representative of the Borrower/the Borrower.



		(13)	other measures stipulated by laws and regulations or as agreed herein or as deemed appropriate by the
Lender.



 






    	 	21	 



     


    

 



	3.	Subject to the withdrawal preconditions and loan payment conditions agreed herein, in case that the Lender
fails to provide the loan at the agreed date and amount and causes the Borrower to lose, the Borrower shall be compensated for the direct
economic loss caused thereby. Notwithstanding, the Lender does not bear the compensation liability for any foreseeable or unforeseen indirect
losses caused by the Borrower.
	 	 



	4.	During the performance hereof, where the materials provided by the Borrower are untrue, inaccurate,
incomplete, or have other defects, thus causing that the Lender’s entrusted payment is wrong, the payment is not timely, the Borrower
violates the Contract to handle autonomous payment or cause other losses, the Lender does not bear any responsibility.
	 	 



	5.	Where the loan issuing account or the payment target account agreed herein is frozen or there are other
reasons that cause disputes over loans or payments, the Lender shall not bear any responsibility.
	 	 



	6.	Where the guarantor (namely guarantor, mortgagor, pledger) hereunder has the following matters, the Lender
shall have the right to take measures in accordance with the second paragraph of this article:
	 	 



		(1)	the guarantor has not fulfilled the terms of the guarantee contract, or the credit status has deteriorated,
or other events that weaken its ability to guarantee has happened;



		(2)	the mortgagor fails to fulfill the terms of the mortgage contract, or it deliberately damages the collateral,
or the value of the collateral may or has been significantly reduced, or other events that damage the Lender’s mortgage;



		(3)	the pledgor has not fulfilled the pledge contract, or the value of the pledge has been or may be significantly
reduced, or the pledge right must be fulfilled prior to the settlement of the loan, or other events that damage the Lender’s pledge
right occur.



 


Article 15 Cross-default


 


The Borrower or its affiliated enterprise and
the guarantor or guarantor’s affiliated enterprise shall be deemed to have defaulted on the Contract simultaneously if any of the
following situations occurs. The Lender has the right to collect the loan in advance in accordance with Article 12 herein, and require
the Borrower to bear the liability for breach of contract in accordance with Article 14 herein:


 


		(1)	any loan, financing or debt that has or may have breach of contract or is declared to be due in advance;



		(2)	any guarantee or similar obligation is not fulfilled, or there is a possibility of failure to fulfill;



		(3)	legal documents or contracts relating to debt guarantee and other similar obligations are violated or
failed to be performed, or there is a possibility of failure to perform or breach;



		(4)	the situation that inability to settle matured debts or matured loans/financing occurs or is about
to occur;



		(5)	having been declared or being about to be declared bankrupt through legal procedures;



		(6)	transferring its assets or properties to other creditors;



		(7)	other situations that endanger the safety of principal and interest of the loan hereunder.



 


Article 16 Continuity of Obligations


 


All the obligations of the Borrower hereunder
are continuous, and they are fully and equally binding on the Borrower’s heirs, agents, receivers, assignees and their entities
after merger, reorganization, name change, etc.


 
Article 17 Acceleration of Maturity Provisions
of Principal and Interest


 


the Borrower agrees that once the Borrower fails
to perform the declarations and commitments in Article 11 hereof, or the Borrower fails to perform any of the obligations hereunder, the
Lender has the right to determine that any other obligations including repayment obligations for all principals and interest (including
penalty interest and compound interest) due and undue loans hereunder will be immediately mature.



 






    	 	22	 



     


    

 


Article 18 Subrogation Rights


 


The Borrower hereby specifically declares that
no matter whether the creditor’s rights of the Lender have expired or not, the creditor’s rights of the Borrower or the subordinated
rights related to such creditor’s rights will expire soon or fail to declare bankruptcy creditor’s rights in a timely manner,
or the realization of the creditor’s rights of the Lender is affected by the occurrence of default by the Borrower or the Borrower’s
inability to repay the advances (including but not limited to principal, interest, and expenses, etc.) that have reached the repayment
date of the Lender, In respect of any creditor’s rights, trade receivables and other property interests against third parties and
any subordinate rights in relation to the aforesaid rights owned by the Borrower, the Lender shall have the right to exercise the right
of subrogation, including but not limited to subrogation to request its counterparts of the Borrower to perform to the Borrower, report
to the bankruptcy administrator or make other necessary actions, and the Borrower waives all defenses.


 


Article 19 Application of Law, Jurisdiction
and Dispute Resolution


 


	1.	The conclusion, entry into force, performance, termination, interpretation and dispute resolution hereof
shall apply to the laws of the People’s Republic of China (for the purpose of this Contract, excluding the laws of the Hong
Kong Special Administrative Region, Macau Special Administrative Region and Taiwan region).
	 	 



	2.	Any disputes arising out of this Contract shall be settled through friendly negotiation between both
parties of the Borrower and the Lender; in case that the friendly negotiation fails, the two parties agree to resolve it in the following
(second) ways:
	 	 



		(1)	to file a lawsuit with the people’s court where the Lender’s domicile is located.



		(2)	to apply for arbitration to the Xiamen Arbitration Commission, and apply the effective arbitration
rules of it at the time of the arbitration to settle the dispute. To the extent permitted by the arbitration rules, both parties agreed
to choose a simplified procedure for trial. The arbitral award is final and binding on both parties. The location of the arbitral tribunal
is chosen to be held in Xiamen.



		(3)	other methods: ___________________________________________.
	 	 	 



	3.	During the dispute period, the provisions hereof that do not be involved in the disputed part still must
be fulfilled.



 


Article 20 Document Correspondence, Communication
and Notice


 


	1.	The Borrower agrees and confirms the following addresses as the notice matters under the Contract and
relevant legal documents such as litigation (arbitration) and notarization in case of disputes (including but not limited to various notices
and documents of the contracting parties); the court or the arbitration tribunal served a bill of complaint (or an application for arbitration)
and evidence, summons, notice of appearance, notice of proof, notice of hearing, payment order, judgment (award), ruling, conciliation
statement, notice of execution, notice of performance within a time limit and other litigation or arbitration proceedings, realization
of security interests and legal documents at the execution stage; various notices and legal documents served by the notary office) and
further agreed that the lenders, notary offices, courts, and other judicial authorities, as well as other persons serving notices and
legal documents, have the right to choose paper or electronic means of service, among which, electronic means of service include but not
limited to e-mail, China Judicial Process Information Disclosure Network, national unified service platform, local or specialized court
network service platform, and the electronic network platform of the addressee, electronic APP, etc.:



 


(1) Recipient’s
Address:


 


1 unit name of
the Borrower: Xiamen Pop Culture Co., Ltd;


company address
of the Borrower: Unit 836, No. 5, Mu Chu Road, Huli District, Xiamen;


postcode: 361000;
contact phone number: [*]          ;


contact person:
Manager Chen.


2  name of the
designated recipient agent (if any): ________________________;


address of the recipient
agent: __________________________;


postcode:_______________ ; contact
phone number: _______________________.


 






    	 	23	 



     


    

 


(2) The Borrower agrees
and confirms that the Lender may use any of the following electronic mailing addresses for delivery:


 


1 fax reception,
number: ______________________;


2 e-mail, address:
______________________;


3 cellphone message,
receiving number: [*]                    ;


4 WeChat and WeChat
number: ______________________;


5 QQ number: ______________________;


6 other electronic
address: ______________________.


 


	2.	The applicable period of the address for service agreed in the first paragraph of this article includes
the non-litigation stage and all stages after the dispute enters the arbitration, first instance, second instance, retrial, execution,
procedure for realizing the real right for security, supervision procedure and compulsory notarization. Suppose the above address for
service is changed. In that case, the borrower shall notify the lender in writing in advance (the arbitration tribunal or court shall
also be notified in writing in advance during the litigation or arbitration period, and the original notarization institution shall be
notified in writing if compulsory notarization has been performed) to reconfirm the address for service and obtain a receipt. If the notice
is not given in advance, it shall be deemed as unchanged, the corresponding legal consequences shall be borne by the borrower, and the
address for service agreed in the first paragraph of this article shall still be deemed as the effective address for service.
	 	 



	3.	Any documents, communications, notices and legal documents mentioned above shall be deemed to have
been delivered on the following dates (serving to the designated recipient is deemed to have been delivered to the person) as long as
they are sent to any of the above addresses:
	 	 



		(1)	for postal delivery (including express mail delivery, ordinary mail, and registered mail), the fifth working
day after the date of mailing shall be deemed to be the date of delivery;



		(2)	for fax, e-mail, cellphone message, WeChat, QQ or other electronic mailing addresses, the date of sending
shall be deemed to be the date of delivery;



		(3)	for personal delivery, the date on which the recipient signs the receipt shall be deemed to be the date
of delivery. Where the recipient refuses to accept the address, it is also deemed to be delivered if the delivery person may take pictures
and videos to record the delivery process and leave the document.
	 	 	 



	4.	If the delivery address provided or confirmed by the borrower is inaccurate or untrue or fails to notify
the other party and the arbitration institution, people’s court, or notary institution promptly after the change of the delivery
address, failing actual delivery, the borrower shall bear the corresponding legal consequences on its own and shall be deemed to have
been effectively delivered:
	 	 



		(1)	for postal delivery, the date of return of the documents shall be regarded as the date of service;



		(2)	for personal delivery, the date on which the person delivering the goods records the information on
the delivery receipt is the date of delivery;



		(3)	for electronic delivery, the date of delivery shall be the date of the sender.
	 	 	 



	5.	Where the lender takes the domicile specified in the contract as the address for delivery, the Lender
sends notices by the way of publishing an announcement on its website, online banking, telephone banking or business branch, the date
of publication of the notice shall be deemed to be the date of delivery. Under no circumstances will the Lender be liable for any transmission
errors, omissions, or delays occurring in postal delivery, fax, telephone, or any other communication system in the delivery.
	 	 



	6.	The parties agree that the company’s official seal, office stamp, special financial seal, special
contract seal, special seal for sending and receiving, and special seal for credit business of the Lender are all valid seals for notification
or contact, service of legal documents, and correspondence among all parties. All staffs of the Borrower’s unit are authorized signer
for document exchange, communication and notification.



 


	7.	This article is an independent clause in the contract and is not affected by the efficiency of the
contract and other clauses of the contract.



 






    	 	24	 



     


    

 


Article 21 Validity of Contract and Other Matters


 


	1.	This Contract goes into effect on the date of signature or seal or print with fingerprints of the contracting
parties.
	 	 



	2.	During the valid period hereof, any tolerance, grace or delay in exercising their rights and interests
they enjoy herein, which is granted by the Lender to the Borrower or guarantor, shall not damage, affect or restrict the Lender’s
enjoyment of all rights and interests in accordance with relevant laws and this Contract, shall not be deemed to be a waiver of the rights
and interests of the Lender hereunder, or affect any obligations of the Borrower hereunder.
	 	 



	3.	If due to changes in national laws and regulations or supervision policies, the Lender’s performance
of the lending obligations as agreed herein does not comply with the laws and regulations or supervision requirements, the Lender has
the right to unilaterally terminate the Contract, and announce that all loans issued have matured in advance, and the Borrower shall repay
immediately at the request of the Lender.
	 	 



	4.	If due to force majeure, communication or network failure, failure of the Lender system, and other reasons,
the loan is not issued or the payment is not processed on time, the Lender shall not bear any responsibility, but shall promptly notify
the Borrower.
	 	 



	5.	The Borrower accepts that the Lender, according to the needs of business management, has the right
to authorize or entrust other branches of Industrial Bank to perform the rights and obligations (including but not limited to authorize
or entrust other branches of Industrial Bank to sign related contracts, etc.), or to incorporate loan hereunder into other branches of
Industrial Bank for acceptance and management. The above behavior of the Lender does not require to obtain the consent of the Borrower.
	 	 



	6.	The Borrower agrees that the Lender has the right to unilaterally change and reduce or cancel the amount
of unused loans herein based on factors such as the Borrower’s production and operation condition, repayments condition and credit
status of other financial institutions. Where the Lender decides to change and reduce or cancel, it shall notify the Borrower five working
days in advance, but it is not necessary to obtain the Borrower’s consent.
	 	 



	7.	In case that at any time any provision hereof is or becomes illegal, invalid or unenforceable in any respect,
the legality, validity or enforceability of the other provisions hereof will not be affected or impaired in any way.
	 	 



	8.	The Lender has drawn the Borrower’s special attention to the contents of the “Important
Notice for Signing the Contract.” The Borrower has carefully read and fully, thoroughly, and accurately understood all the terms
of the rights and obligations of both parties in the Contract and the “Important Notice for Signing the Contract.” The Lender
has fully explained the relevant terms upon the applicant’s request. Both parties have an identical understanding of the terms of
the Contract and have no objection to the contents of the Contract.
	 	 



	9.	The subtitles hereof are added for reading convenience only and shall not be used for interpretation hereof
or for any other purposes.
	 	 



	10.	The Annex to this Contract is an integral part of this Contract and has the same legal effect as the body
of this Contract.
	 	 



	11.	This Contract is made in three (3) originals. The Lender holds two original, the Borrower holds one original,
and holds original with the same legal effect.



 






    	 	25	 



     


    

 


Article 22 Notarization and Voluntary Enforcement


 


	1.	In case that any party hereto asks for notarization, the Contract shall be notarized at a notary office
prescribed by the country.
	 	 



	2.	A notarized contract has compulsory enforcement effect. When the Borrower fails to fulfill its debts
or the Lender realizes its credit right agreed herein or stipulated in the law and regulations, the Borrower agrees that the Lender applies
to the notary office for issuing an enforcement certificate with enforcement capability. The Borrower voluntarily accepts the enforcement
measures directly applied by the Lender to the people’s court with jurisdiction with the enforcement certificate, knows the corresponding
legal consequences, and undertakes not to raise any objection or defense.
	 	 



	3.	All parties agree that before the notary office issues the execution certificate, it shall have the right
to verify the relevant default facts such as the Borrower’s non-performance or improper performance of the debt by any one or more
methods such as mailing, telephone, fax, e-mail, SMS, WeChat, QQ, personal delivery and interview, in accordance with the terms of “Document
Correspondence, Communication and Notice” as agreed in the contract. If it is verified by telephone or interview, the interview
or call will be deemed as delivery upon completion; If it is verified by mail, fax, e-mail, SMS, WeChat, QQ, and personal delivery, the
delivery date shall be subject to the terms and conditions of “Document Correspondence, Communication and Notice” in the Contract.
	 	 



	4.	Suppose the Borrower has any objection to the facts of the breach verified in the above terms. In that
case, it shall provide written and sufficient evidence to the notary public within five working days from the delivery date. Suppose the
evidence is not provided on schedule or the notarization institution considers that the evidence is insufficient to support its claim.
In that case, it shall be deemed that the Borrower confirms the relevant default facts, such as non-performance or improper performance
of the debt, and agrees that the notarization institution shall issue an execution certificate based on the lender’s application.
If the notary public has other provisions on the method of verification and the period of proof, the provisions of the notary public shall
prevail.



 


Article 23 Supplementary Provisions:


 





	The Lender (seal of the unit)	Person-in-charge or person with authorization (signature or seal)
	 	 
	Credit Contract special seal of Industrial Bank, Xiamen Branch Office	Seal of Hong, Pipa
	 	December 21, 2021
	 	 
	the Borrower (official seal)	Legal representative or person with authorization (signature or seal)
	 	 
	Seal of Xiamen Pop Culture Co., Ltd	Seal of Huang, Zhuoqin
	 	December 21, 2021


 


Signature illegible


Signature illegible


 


 


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