Exhibit 10.8


 


Loan Agreement


 


This contract is entered
into by and between the lender and the borrower on an equal and voluntary basis according to law. In order to safeguard the legitimate
rights and interests of the borrower, the lender hereby requests the borrower to pay full attention to all the provisions concerning
the rights and obligations of both parties, especially the contents in bold type.


 


Lender: Industrial and
Commercial Bank of China Limited Tahe Branch 


 


Address:______________________


 


Borrower: Greater Khingan
Range Forasen Energy Technology Co., Ltd. Tahe Power Plant 


 


Legal representative:
Fenghong Qu


 


Address: ______________________


 


Zip code:______________________


 


Fax:_ Telephone:_


 


E-mail address: ______
Contact person: _____Mobile phone No. :_____


 


Alipay account No.:
______ Aliwangwang account No.: ______


 


Part One: Basic
Clauses


 


Article 1 Purpose
of Loan


 


The loan shall be used for the following
purposes. The borrower shall not use the loan for any other purpose without the written consent of the lender, and the lender
shall have the right to supervise the purpose of the money. Purpose of borrowing: Production and Operation Activities.


 


Article 2 Amount and
Term


 


2.1 The amount of the loan shall be RMB[Amount
of Principal]. The term of the loan shall be calculated from the date of withdrawal and the maturity date shall be [Maturity Date].
The withdrawal date shall be subject to the withdrawal instruction. The borrower shall make a one-time withdrawal.


 






     


     


    

 


2.2 The terms of the loan shall be from
[Agreement Date], to [Maturity Date].


 


Article 3 Interest rates,
Interest and Expenses


 


3.1 [Determination the interest rate]


 


The interest rate shall
be determined in the following manner:


 


The interest rate is
determined by the benchmark interest rate plus the floating range, in which the benchmark interest rate is according to the people's
bank of China on the date of withdrawal corresponds to the borrowing term, and the floating range is upward (upward/downward/zero)
80.000000 %. After the borrower withdraws the money, the interest rate of the loan shall be 12 (1-12) months for
one period, which shall be adjusted and calculated at different phases. The date on which the interest rate of the second installment
is fixed shall be the corresponding date after of the first installment. If the corresponding date is uncertain, the last day of
that month shall be the corresponding date, and other periods shall be the same.


 


(3) The borrowing interest
rate is determined by the benchmark interest rate plus the floating range, of which the benchmark interest rate is the (annual/monthly)
basic loan interest rate (LPR) published by the national interbank lending center before the withdrawal date, and the floating
range is ___(up/down/zero)___ % or (plus/minus/zero) 0.01%. The interest rate of the loan after withdrawal shall be adjusted
in the ways specified in (A) below:


 


A. Take 12 (1/3/6/12)
months as one phase, the interest should be adjusted and calculated at each phase. The interest rate determination date of the
second and subsequent phases shall be the adjusted after the withdrawal, and the lender shall adjust the interest rate of the loan
according to the base interest rate and the floating range published by the national interbank lending center of the previous working
day.


 


B. No adjustment during
the whole term.


 


3.2 The loan interest shall be calculated
daily and settled monthly from the date of withdrawal. When the loan is due, the interest should be paid off with the principal.
The daily interest rate = the annual interest rate /360.


 






     


     


    

 


3.3 The overdue penalty interest rate under
this contract shall be determined by adding 50.000000 % to the original loan interest rate, and the penalty interest rate
for embezzlement shall be determined by adding 50.000000 % to the original loan interest rate.


 


Article 4 Withdrawal


 


4.1 After the lender distributes the fund
to the borrower's withdrawal account as agreed herein, the borrower shall withdraw the loan one time [Agreement Date] (withdrawal
date). If the borrower fails to make a lump-sum withdrawal as agreed, the lender shall have the right to cancel all or part of
the loan agreement.


 


4.2 The borrower may draw the loan hereunder
by (2):


 


(1) Withdrawing the loan directly from
the designated branch of the lender;


 


(2) Withdrawing the loan through the e-bank
of Industrial and Commercial Bank of China (“Industrial and Commercial Bank”).


 


Article 5 Repayment


 


5.1 The borrower shall repay the loan in
the ways specified in (1) below:


 


(1) The loan shall be pay off when it is
maturity


 


(2) Other:________


 


Article 6 Account


 


The borrower shall use the following accounts
for withdrawal and repayment:


 


Withdrawal account: [***]


 


Repayment account: [***]


 


Article 7 Guarantee


 


The_________________ has provided guarantee
for the underlying loan, and the information of the corresponding guarantee contract is as follows:


 


The Contact No: _________________


 


The guarantor: _________________


 


The contract shall be separately signed
by the lender and the guarantor, and the specific details are listed above.


 






     


     


    

 


Article 8 Others


 


Part Two: Specific Clauses


 


Article 1 Interest rate and Interest


 


1.1 The interest rate is determined by
the benchmark interest rate plus the floating range, the overdue interest rate shall be determined by the same manner.


 


1.2 If the interest is settled monthly,
the settlement date shall be 20th of each month, if the interest is settled quarterly, the settlement date shall be
20th of the third month, if the interest is settled semi-annually, and the settlement date shall be June 20th
and December 20th.


 


1.3 The first interest period is from the
withdraw date to the first settlement date; the last interest period is from the second date of previous settlement to the repayment
date. The rest interest periods are from the second date of previous settlement to the next settlement date.


 


1.4 Loan interest = loan principal ×
daily interest rate × actual days of use.


 


If equal principal
and interest repayment method is adopted, the calculation formula of principal and interest shall be as follows:


 


Total principal and interest of each period
= (financing principal × period interest rate × period repayment period)/ ((period interest rate) repayment period
-1)


 


1.5 The new interest rate shall be adopted
in case the People's Bank of China decides to adjust the determination method for the interest rate, and the lender is not obligated
to notify the borrower.


 


1.6 If the interest rate on the signing
date is lower than the LPR rate, the lender has the right to cancel the interest preference based the evaluation of policy change,
credit status, etc. and notify the borrower in time every year.


 


Article 2 Withdraw


 


2.1 The withdrawal of the loan must meet
the following preconditions; otherwise the lender is not obligated to make any payment to the borrower, except that the lender
agrees to make the loan in advance:


 






     


     


    

 


(1) Other than the credit loan, the borrower
has provided corresponding guarantees as required by the lender and has completed relevant guarantees procedures.


 


(2) At the time of withdrawal, the borrower’s
statements and guarantees under this agreement are still true, accurate, and complete, and no breach of this agreement or any other
agreements signed by the borrower or the lender has happened.


 


(3) The proof of loan use provided is consistent
with the agreed use.


 


(4) Submit other information required by
the lender.


 


(5) If the borrower withdraws the loan
through the Industrial and Commercial Bank of China Electronic Bank, the "Industrial and Commercial Bank of China Electronic
Bank Corporate Customer Service Agreement" signed with the lender is always valid within the loan period.


 


2.2 If the borrower withdraws the loan
through the designated business outlet of the lender, it must submit a withdrawal notice to the lender at least five working days
in advance. Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender.


 


2.3 If the borrower withdraws the loan
through the ICBC Electronic Bank, the borrower shall sign the "Industrial and Commercial Bank of China Electronic Bank Corporate
Customer Service Agreement" with the lender, promise to abide by the "ICBC Electronic Banking Charter" and related
transaction rules, and operate in accordance with the relevant transaction rules. The withdrawal instruction submitted by the borrower
through the ICBC electronic bank and confirmed by the lender is regarded as a debit note.


 


2.4 After the borrower satisfies the prerequisites
for withdrawal or advances the loan with the consent of the lender, the lender will transfer the loan to the borrower ’s
withdrawal account agreed in this contract, which means that the lender has issued the loan to the borrower in accordance with
the contract.


 


2.5 According to the relevant regulatory
regulations and lender management requirements, loans exceeding a certain amount or meeting other conditions should use the lender's
fiduciary payment method, and the lender will pay the loan to the person in accordance with the contract according to the borrower's
withdrawal application and payment entrustment.


 


2.6 When handling the entrusted payment,
the borrower shall provide the lender with the information of the account of the payment object and the certification materials
to prove that the withdrawal is in accordance with the agreed purpose. The borrower should ensure that all information provided
to the lender is true, complete and valid.


 






     


     


    

 


2.7 When handling the entrusted payment,
the lender only conducts a formal review of the relevant information provided by the borrower, such as the payment target information
and the loan use certification materials. If the lender does not complete the timely due to the untrue, inaccurate and incomplete
information provided by the borrower, the lender does not assume any responsibility.


 


2.8 If the lender finds inconsistency or
other defects in the use certification materials and other related materials provided by the borrower after review, it has the
right to request the borrower to supplement, replace, explain or resubmit the relevant information, and submit the materials that
meet the management requirements of the lender before the borrower. The lender has the right to refuse the issuance and payment
of related money.


 


2.9 According to the purpose of the loan
agreed in this contract, the lender has the right to require the borrower, independent intermediary agency and other relevant parties
to issue relevant certification materials such as a common visa slip.


 


2.10 If the lender, after review, believes
that the information provided by the borrower is consistent with the agreed use of the loan and the withdrawal is in accordance
with this contract, the loan will first be transferred to the borrower ’s withdrawal account agreed in this contract, and
then related to the accounts designated by the borrower.


 


2.11 Under any of the following circumstances,
the lender shall have the right to re-determine the conditions for the issuance and payment of the loan, or to cancel the contract
and payment of the loan:


 


(1) The borrower provides incorrect or
invalid information to the lender to obtain financing;


 


(2) Any negative influence for borrower's
production and business operation, or any credit issue happened for the borrower;


 


(3) If the borrower fails to withdraw and
pay the financing funds as agreed herein, or the financing funds are used in an abnormal way;


 


(4) The borrower violates the provisions
of this contract or relevant regulatory provisions;


 


(5) The withdrawal account or payment object
account designated by the borrower is frozen or canceled by the authority.


 


2.12 If the withdrawal account designated
by the borrower or its payment target account is frozen or stopped by the authority, resulting in the lender unable to complete
the entrusted payment in accordance with the borrower ’s entrustment, the lender does not assume any responsibility and does
not affect the borrower’s Repayment obligations already incurred under the contract.


 






     


     


    

 


2.13 If the loan under this contract is
paid by the borrower independently, the borrower promises to accept and actively cooperate with the lender to inspect and supervise
the use of financing funds including usage by means of account analysis, voucher inspection, on-site investigation, etc. and to
regularly report loan usage.


 


2.14 If the lender incurs loss because
the information provided by the borrower to the lender is untrue, incomplete or invalid, the borrower shall compensate the lender
for it.


 


2.15 If the lender fails to issue and pay
the loan in time according to the contract, it shall bear the corresponding liability for breach of contract, unless otherwise
agreed in this contract.


 


2.16 The lender does not assume any responsibility
for unforeseen, unavoidable, and insurmountable force majeure events such as wars, natural disasters, or unexpected events such
as system failures and communication failures of the lender, resulting in the lender failing to make the corresponding payments
on time. However, the borrower shall be notified by telephone or in writing in time.


 


Article 3 Repayment


 


3.1 The borrower is obligated to repay
the principal, interest on time.


 


3.2 The borrower may choose to repay the
loan in advance by submitting a written consent to the lender or sending out notification through ICBC ebank.


 


3.3 The lender has the right to repay the
loan in advance according to the withdrawal of the borrower's funds. If required by the lender, the borrower shall repay the loan
in installments according to the repayment plan proposed by the lender.


 


3.4 If the actual term of the loan is shortened
due to the borrower's prepayment or the lender's early withdrawal of the loan as agreed herein, the corresponding interest rate
shall not be adjusted and the original interest rate shall still apply.


 


3.5 If the borrower repays in advance or
the lender withdraws the loan in advance in accordance with this contract and the actual borrowing period is shortened, the corresponding
interest rate level will not be adjusted and the original borrowing interest rate will still be implemented.


 






     


     


    

 


Article 4 Guarantee


 


4.1 In addition to credit loans, the borrower
shall provide legal and effective guarantees recognized by the lender for the performance of its obligations under this contract.


 


4.2 The collateral under this contract
is damaged, depreciated, property rights disputes, seized or seized, or the collateral (the pledge) arbitrarily handles the collateral
(the pledge), or the guarantor of the guarantee of the financial situation has adversely changed or other changes adverse to the
lender's claims occur, the borrower shall notify the lender in time and provide other guarantees approved by the lender.


 


4.3 The lender shall have the right to
re-evaluate the value of the security property and the guarantee ability of the guarantor periodically or irregularly. If it is
deemed that the value of the security property is reduced or the guarantee ability of the guarantor is reduced, the borrower shall
provide additional value reduction or guarantee ability. The reduced portion of the equivalent guarantee may also be provided in
addition to other guarantees approved by the lender.


 


4.4 If the loan under this contract provides
pledged security with accounts receivable, during the validity period of this contract, if one of the following situations occurs,
the lender has the right to declare the loan to expire early and require the borrower to repay part or all of the loan principal
and interest immediately Legal, valid and full guarantees approved by the lender:


 


(1) The bad debt rate of accounts receivable
from the pledger of the accounts receivable to the payer has been rising for 2 consecutive months;


 


(2) The accounts receivable due from the
pledgor of the accounts receivable to the payer accounted for more than 5% of the balance of accounts receivable to the payer;
or


 


(3) The pledgee of the accounts receivable
has trade disputes (including but not limited to quality, technology and service disputes) or debt disputes with the payer or other
third parties, which may cause the receivables to fail to be paid on time.


 






     


     


    

 


Article 5 Representations and Warranties


 


The borrower makes the following representations
and warranties to the lender, which shall remain valid throughout the term of this contract:


 


5.1 It is qualified as the subject of the
borrower and has the qualification and ability to sign and perform this contract.


 


5.2 The signing of this contract has obtained
all necessary authorization or approval, and the signing and performance of this contract does not violate the company's articles
of association and relevant laws and regulations, and has no conflict with other obligations under this contract.


 


5.3 Other debts payable have been paid
on schedule and there is no malicious default on the principal and interest of bank loans.


 


5.4 The company has a complete organizational
structure and financial management system. No major violations of rules and regulations have taken place in the production and
operation process in the recent years, and the current senior managers have no major bad records.


 


5.5 All documents and materials provided
to the lender are true, accurate, complete and valid, and there are no false records, material omissions or misleading statements.


 


5.6 The financial and accounting reports
provided to the lender are prepared in accordance with Chinese accounting standards, which is truly, fairly and completely reflect
the borrower's business conditions and liabilities, and also the borrower's financial statements since the date of the latest financial
and accounting reports have no material adverse change.


 


5.7 Failure to conceal the litigation,
arbitration or claims incidents involved from the lender.


 


5.8 Have known and fully understood the
various transaction rules of the ICBC Internet Banking and other electronic banking systems related to this contract.


 


Article 6 Borrower commitment


 


6.1. Borrower accepts and shall abide by
Lender's business system, operational practices, and the procedures under this Loan Contract.


 


6.2. Borrower warrants that it will cooperate
with Lender on the supervision and inspection of the use of the funds borrowed under this Loan Contract and of the business condition
of Borrower and that it will promptly provide all financial statements and related materials needed by Lender, which Borrower warrants
to be true, complete and accurate.


 






     


     


    

 


6.3. Repay the principal and interests
on time.


 


6.4. To provide data (including money owed,
and loan newly borrowed large in sum etc.) as what the money lender asks, and cooperate with the money lender to investigate, censor
and check any aspects of personal economic income and expenses related to the loan;


 


6.5 If there is any outstanding principal
and interest of borrowings and other payables that are due (including being immediately due) under this contract, dividends and
bonuses will not be distributed in any form.


 


6.6 The merger, division, capital reduction,
equity change, equity pledge, major asset and debt transfer, major foreign investment, substantial increase in debt financing,
and other actions that may adversely affect the lender's equity should be carried out with prior written consent from the lender
or arrangements that meet the lender's management requirements for the realization of the lender's claims.


 


6.7 Borrower warrants that it will issue
written notices to Lender upon occurrence or possible occurrence of the following events in time:


 


(1) Borrower amends
it articles of association, replaces its legal representative, reduces its registered capital or makes material changes in its
finances or personnel;


 


(2) Suspension of business,
dissolution, liquidation, suspension of business operations for rectification, revocation of business license, revocation or application
for bankruptcy;


 


(3) Borrower involves
or may involve major economic disputes, litigation, arbitration, or its assets are seized, or enforced, or judicial, taxation,
industry and commerce, and other competent authorities have filed investigations or taken punishment;


 


(4) Borrower is a party
to a material legal suit or its main assets have been put under property preservation or other orders;


 


(5) Mergers, divisions,
capital reductions, equity changes, equity pledges, withdrawals, major asset and debt transfers, major foreign investments, substantial
increase in debt financing, and other events that may adversely affect the lender's equity.


 


6.8 Timely, comprehensively and accurately
disclose related party relationships and related party transactions to lenders.


 


6.9 Sign all kinds of notices sent by lenders
or delivered in other ways in time.


 






     


     


    

 


6.10 Not dispose of its own assets in a
way that reduces its solvency; providing guarantees to third parties does not damage the rights and interests of the lender.


 


6.11 If the loan under this contract is
issued by credit, the external guarantee shall be reported to the lender regularly, completely, truthfully and accurately, and
the account supervision agreement shall be signed according to the requirements of the lender. If the external guarantee may affect
the performance of its obligations under this contract, it must be approved in writing by the lender.


 


6.12 If the borrower defaults, the borrower
shall bear the costs incurred by the lender in order to realize the claims under this contract, including but not limited to, attorney’s
fees, auction fees, notary fees, and the cost of applying for the issuance of an executive certificate, etc.


 


6.13 The order in which the borrower's
debts are settled under this contract takes precedence over the borrower's debts to its shareholders, legal representatives or
principals, partners, major investors or key management personnel, and the debts of the same type with the borrower's other creditors
are at least equal status.


 


6.14 Have known and fully understood the
various transaction rules of the ICBC Internet Banking and other electronic banking systems related to this contract; keep customer
certificates and passwords properly, all operations performed using the borrower’s customer number (card number), password
or customer certificate Treated as the borrower's own actions, the resulting electronic information records are used as evidence
to prove and handle the loan relationship under this contract.


 


6.15 Strengthen environmental and social
risk management, and accept the supervision and inspection of lenders in this regard. Submit environmental and social risk reports
to the lender if required by the lender.


 


Article7 Lender Commitment


 


7.1 To release the full loan on schedule;


 


7.2 To keep a secret for the borrower in
such areas as occupation, economic income and expenses etc.


 






     


     


    

 


Article 8 Events of Default


 


8.1. Any of the following events shall
be considered a default under this Article:


 


(1) The borrower fails
to repay the loan principal and interest and other payables under this contract as agreed, or fails to perform any other obligations
under this contract, or violates the statements, guarantees or commitments under this contract;


 


(2) The guarantee under
this contract has changed to the detriment of the lender’s claims, and the borrower has not provided other guarantees that
meet the lender ’s management ;


 


(3) Borrower or guarantor
is involved in illegal activities;


 


(4) According to the
stipulations in the loan terms, in case of the guarantor (guaranty) changed, which leads to the obligations performed by the guarantor
ahead of schedule or the disposal of guaranty by the money lender in advance; or any actions the borrower may take which influence
returning the principal and interests to the money lender;


 


(5) The borrower's financial
indicators such as profitability, solvency, operating capacity and cash flow exceed the agreed standards, or the deterioration
has or may affect the performance of its obligations under this contract;


 


(6) The borrower's equity
structure, production and operation, foreign investment, etc. have undergone significant adverse changes that have or may affect
the performance of its obligations under this contract;


 


(7) The borrower is
involved or may be involved in major economic disputes, litigation, arbitration, or the assets are seized, seized, or enforced,
or the judicial or administrative organs file the case for investigation and punishment, or take punitive measures according to
law, or have been violated due to violation of relevant national regulations or policies, media exposure that has or may affect
the performance of its obligations under this contract;


 


(8) Abnormal changes,
disappearances of the main investor of the borrower, key management personnel, disappearance, or legal investigation by the judicial
authority or restrictions on personal freedom that have or may affect the performance of their obligations under this contract;


 


(9) Borrowers use false
contracts with related parties, use transactions without actual transaction background to borrow lender funds or credits, or intentionally
evade the lender's claims through related party transactions;


 


(10) The borrower has
or may be closed, disbanded, liquidated, suspended for business rectification, revoked business license, revoked, or filed (applied
for);


 






     


     


    

 


(11) The borrower has
caused liability accidents, major environmental and social risk events due to violations of laws and regulations, regulatory provisions
or industry standards related to food safety, safe production, environmental protection and other environmental and social risk
management, which have or may affect his performance of obligations;


 


(12) If the loan under
this contract is issued by credit, the borrower's credit rating, profitability, asset-liability ratio, net cash flow from operating
activities and other indicators do not meet the lender's credit loan conditions; or the borrower does not have the written consent
of the lender and use its effective operating assets to set up guarantees (pledges) to others or to provide external guarantees,
which has or may affect the performance of its obligations under this contract;


 


(13) Other circumstances
that may cause the lender ’s realization of its claims under this contract to be adversely affected.


 


8.2. In the event of events of default,
Lender has the right to take the following steps:


 


(1) Request the borrower
to rectify the breach of contract within a time limit ;


 


(2) Stop providing
loan funds that Borrower has not yet used;


 


(3) Unilaterally declare
all principal already lent under the Loan Contract to be due ahead of the contract due date and require Borrower immediately to
return the principal and pay all interest due; and


 


(4) Take other remedies
as provided by applicable laws and regulations.


 


(5) If the borrower
fails to repay the loan as contracted or the borrower fails to use the loan for the purposes specified in this contract, the lender
shall have the right to charge the penalty interest at the overdue penalty interest rate stipulated in this contract from the date
of the expiration of the loan.


 


8.3 If the borrower is due (including the
immediate expiration of the loan) and the borrower fails to repay as agreed, the lender shall have the right to collect the penalty
interest at the overdue penalty interest rate agreed in this contract from the date of overdue. For the interest (including penalty
interest) that the borrower fails to pay on time, compound interest will be charged at the overdue penalty interest rate. Penalty
/ compound interest settlement rules apply to the interest settlement rules stipulated in this contract.


 






     


     


    

 


8.4 If the borrower fails to use the loan
for the purposes stipulated in this contract, the lender has the right to collect the penalty interest on the embezzled portion
of the embezzled loan penalty interest rate from the date the loan is embezzled. If the loan is not paid on time during the embezzlement
For interest (including penalty interest), compound interest shall be collected at the penalty interest rate of embezzled loans.
Penalty / compound interest settlement rules apply to the interest settlement rules stipulated in this contract.


 


8.5 If the borrower occurs at the same
time as described in Articles 8.3 and 8.4 above, the penalty interest rate shall be determined by whichever is heavier and cannot
be imposed concurrently.


 


8.6 If the borrower fails to repay the
loan principal, interest (including penalty interest and compound interest) or other payables on time, the lender has the right
to make announcements through the media.


 


8.7 The control or controlled relationship
between the borrower ’s related party and the borrower has changed, or the borrower ’s related party has experienced
other circumstances in addition to item (1) (2) in Article 8.1 above, which has or may If it affects the performance of the borrower
 ’s obligations under this contract, the lender shall have the right to take the measures agreed upon in this contract.


 


Article 9 Deduction


 


9.1 If the borrower fails to repay the
debts on time (including the debts which is declared to be immediately due) as agreed in the contract, the borrower agrees that
the lender withholds the corresponding amount from all the local and foreign currency accounts opened by the borrower in Industrial
and Commercial Bank for repayment until the loan is made. The date when all debts of the payee under this contract have been discharged.


 


9.2 If the withholding amount is inconsistent
with the currency hereof, it shall be converted according to the exchange rate applicable to the lender on the withholding date.
The interest and other expenses incurred during the period of the debt and the difference caused by the fluctuation of exchange
rate during the period shall be paid by the borrower.


 






     


     


    

 


9.3 If the withholding amount from the
borrower is not enough to pay off all of its debts, the money lender shall have the right to determine the priority of claims.


 


Article 10 Transfer of Rights and Duties


 


10.1 The money lender may transfer his
rights and interests under the contract to other people even if with no approval from borrower or guarantor, while the borrower
and guarantor shall continue to finish their responsibilities or obligations stipulated in the contract; the borrower or guarantor
shall not transfer his responsibilities or obligations stipulated in the contract to a third party if with no written approval
from the money lender.


 


10.2 The borrower or Industrial and Commercial
Bank.


 


Article
11 Take Effect, Change, Cancel and Terminate


 


11.1 This contract shall come into force
when the following conditions are met and shall be valid until the date when the borrower's obligations here under have been fully
fulfilled


 


(1) The electronic signature
of the borrower and the confirmation of the lender;


 


(2) The loan application
submitted by the borrower shall be approved by the lender.


 


The lender may confirm this contract by
means of electronic banking system.


 


11.2 If, due to reasons of system malfunction
or any force majeure events, the amount of loan, maturity date, or any other material terms of Loan Agreement appear incorrect
in the e-bank platform of Industrial and Commercial Bank, the creditor shall have the right to correct such information and timely
notify the borrower.


 


11.3 The borrower shall acknowledge and
understand the transactions rules of the e-bank platform of Industrial and Commercial Bank in relation to Loan Agreement. The borrower
shall keep its customer certificate and passcode properly. Any transactions made in connection with the borrower’s customer
number, passcode, or customer certificate are deemed to be made by the borrower, and any records thereof shall be proof of such
transactions. Electronic signatures the borrower provides for this Loan Agreement made through the e-bank platform of Industrial
and Commercial Bank are deemed to be authorized by the borrower.


 






     


     


    

 


11.4 Any modification to this Agreement shall
be negotiated and agreed upon by both parties, and be made in writing. Modifications to this Agreement shall constitute part of
the Agreement and have the same legal effect. Prior to the effective date of a modification, the original clause remains legally
effective.


 


11.5. In the event of change of laws, regulations
or legal practice which will cause any terms contained in this contract become illegal, invalid or loss of practice, the other
part of this contract shall not be impaired by it. The both parties shall make efforts to change the illegal, invalid or loss
of practice part.


 


11.6. If any clause of Loan Agreement becomes
invalid or unenforceable, there shall be no impact on the validity or enforceability of any other clauses of Loan Agreement, nor
shall it impact the enforceability of Article 12 in relation to dispute resolution.


 


11.7. There shall be no influences on the
rights that each party has for its losses compensated after any changes or termination of the contract happened. The termination
of the contract shall not affect the effectiveness of the clauses in the contract stipulated for settling disputes.


 


Article 12 Application of law and dispute
resolution Article


 


The conclusion, validity, interpretation,
performance and dispute settlement of this agreement shall be governed by the laws of the People's Republic of China. All disputes
and disputes arising out of or in connection with this agreement shall be settled by the parties through negotiation. If no agreement
can be reached through negotiation, the dispute shall be litigated in the People’s Court where the lender is located with
proper jurisdiction.


 






     


     


    

 


Article 13 The address of service of litigation/arbitration
documents shall be sent


 


13.1 The borrower acknowledges that the
address set forth on the first page of this contract shall be the service address of the litigation/arbitration documents involved
in the disputes hereunder. Litigation/arbitration documents include but are not limited to summons, notice of hearing, judgment,
order, conciliation statement and a notice of performance, etc.


 


13.2 The borrower agrees that arbitration/litigation
documents may be served by the arbitration institution or the court by fax or E-mail as set forth in the first page of this contract,
except the written judgment, order or conciliation statement.


 


13.3 The above provisions on service shall
apply to all stages of first instance, second instance, retrial and execution of arbitration and litigation proceedings. For the
above address of service, service may be made by the arbitration institution or the court directly by mail.


 


13.4 The borrower shall ensure the authenticity
and validity of the address, contact person, fax, E-mail and other information recorded in this contract. If the relevant information
is changed, the borrower shall promptly notify the lender in writing; otherwise, the borrower shall bear any legal consequences
due to they fail to provide the valid address.


 


Article 14 Complete Agreement


 


This Loan Agreement is comprised of Part
One: Basic Clauses and Part Two: Specific Clauses. Any phrase in both parts of Loan Agreement shall have the same meanings. Both
parts apply to the loan made pursuant to this Loan Agreement.


 


Article 15 Notice


 


15.1 All notices shall be sent in writing
(including electronic form). Unless otherwise agreed, the address in the contract shall be the contact address. Any change
in the contact mode of either party shall be notified to the other party in writing in time.


 


15.2 In addition to correspondence, the borrower
and guarantor agreed to accept electronic means such as telephone, email, text message, and WeChat as lender notification and collection
methods. If the borrower or guarantor changes the address or related electronic contact information reserved by the lender, the
borrower or guarantor shall have the obligation to notify the lender in writing in time. Due to the failure to notify in time,
the notification and collection documents sent by the lender according to the original reserved address or relevant electronic
contact information are still valid, and the borrower and guarantor shall bear the legal consequences.


 






     


     


    

 


15.3 In the event that any party to Loan Agreement
rejects to receive notices, or any notice cannot be delivered due to other circumstances, notice shall be deemed to be given if
the sender obtains notary certificate.


 


Article 16 Special
provisions of value-added tax


 


16.1 The interest and fees paid by the
borrower to the lender under this contract (as specified in the contract) are tax-inclusive.


 


16.2 If the borrower requires the lender
to issue a VAT invoice, it shall first register the information at the lender, including the borrower's full name, taxpayer identification
number or social credit code, address, telephone number, bank of deposit and account number. The borrower shall ensure that the
relevant information provided to the lender is true, accurate and complete, and provide relevant proof materials as required by
the lender. The specific requirements shall be published by the lender through the network notice or website announcement.


 


16.3 If the borrower collects the VAT invoice
by itself, it shall provide the lender with the power of attorney with the stamp, designate the recipient and specify the recipient's
ID card number and other information. The designated recipient shall collect the VAT invoice with the original ID card. If the
person is changed, the borrower shall re-issue the power of attorney with seal to the lender. If the borrower chooses to receive
the VAT invoice by mail, it shall also provide accurate and deliverable postal information; if the mailing information has been
changed, it shall promptly notify the lender in writing.


 






     


     


    

 


16.4 If the lender fails to issue the VAT
invoice in time due to force majeure such as natural disasters, governmental ACTS, social abnormal events or tax authorities, the
lender shall have the right to delay the invoice issuance without any liability.


 


16.5 If the invoice is lost, damaged or
overdue after the VAT invoice is received by the borrower or after the lender has handed it over to a third party, the borrower
cannot receive the corresponding VAT invoice or the deduction cannot be credited The person is not responsible for compensation
for the borrower ’s related economic losses.


 


16.6 If the VAT invoice is received by
the borrower or delivered by the lender to a third party by mailing, and the invoice is lost, damaged or overdue due to other non-lender
reasons, which causes the borrower to fail to receive the corresponding VAT invoice or fail to offset the overdue VAT invoice,
the lender shall not be responsible for compensating the borrower for the relevant economic losses.


 


16.7 During the performance of this contract,
in case of national tax rate adjustment, the lender shall have the right to adjust the agreed price according to the change of
national tax rate.


 


Article 17. Other Clauses


 


17.1 The non-exercise, partial exercise,
or delay in the exercise of any rights that the borrower has under this Agreement shall not constitute the abandonment or alteration
of such rights, nor shall it impact the borrower’s future exercise of such rights or any other rights it has under this Agreement.


 


17.2 The invalidity of any clause in the
contract shall not affect the validity of other clauses, nor shall it affect the validity of the whole contract.


 


17.3 This contract could be amended and
supplemented upon the written agreements conclude by the parties. Any an amendment and supplement shall be integral party of this
contract.


 






     


     


    

 


17.4 In compliance with applicable laws
and regulations, the money lender shall have the right to provide information related to this Agreement and related to the borrower
to Credit Information System established by People’s Bank of China.


 


17.5 In this Agreement and any modifications
thereof, “Primary Management Personnel” shall be interpreted pursuant to the definition in Corporation Accounting Standards
No.36.


 


17.6 The environmental and social risks
mentioned in this contract refer to the harm and related risks that the borrower and its important related parties may bring to
the environment and society during construction, production and business activities, including energy consumption, pollution, land,
health and safety, resettlement, ecological protection, climate change and other environmental and social issues.


 


17.7 Any certificate or records kept by
the creditor in its regular course of business shall have binding evidentiary effects on the borrower regarding its lender-borrower
relationship with the money lender.


 


17.8 In this Agreement:


 


(1) “Agreement”
shall include any modifications or supplement made to the original Loan Agreement;


 


(2) titles of the Articles
shall be used for reference only and shall not be interpreted to explain or limit any contents of this Agreement; and


 


(3) if withdrawal or
payment is made on a non-business day, the effective date is postponed to the next business day.


 


This Loan Contract has two originals, which
are identical to each other, with each of the parties holding one copy. There are several duplicates for future reference.


 


Lender: Industrial and Commercial Bank
of China Limited Tahe Branch


Borrower: Greater Khingan Range Forasen
Energy Technology Co., Ltd. Tahe Power Plant


Legal Representative: Fenghong Qu


 


Agreement entered in: Hangzhou, Zhejiang
Province


Date: [Agreement Date]


 






     


     


    

 


Schedule of Material Differences


 


One or more person signed a Loan Agreement
under this form. Pursuant to Instruction ii to Item 601 of Regulation S-K, the Registrant may only file this form as an exhibit
with a schedule setting forth the material details in which the executed agreements differ from this form:


 


	No.	 	Amount of Principal	 	Maturity Date	 	Agreement Date	 
	1.	 	RMB1,500,000	 	March 9, 2021	 	September 10, 2020	 
	2.	 	RMB1,500,000	 	March 9, 2021	 	September 10, 2020