Exhibit
4.24


 


FENG
HUANG ZHONG XIN LEASE AGREEMENT


 


This
Agreement is signed between the two parties hereunder on the 29th day of January, 2018.


 


	Landlord
    (Party A)	:	Zhejiang
    Huacheng Real Estate Group Co.,Ltd.
	Business
    license no. (Identification no.)	:	 
	Telephone
    no.	:	 
	Address	:	 
	Tenant
    (Party B)	:	Hangzhou
    Dacheng Investment Management Co.,Ltd.
	Business
    license no. (Identification no.)	:	 
	Telephone
    no.	:	 
	Address	:	 


 


Party
A agrees to lease a property, the property rights of which it owns, to Party B, and in accordance with the national laws and regulations,
Party A and Party B, after negotiation, have made this Agreement, which is to be observed by both parties:


 


	Clause
    1	Party
    A is leasing a property which is located at 21F, No. 4, Feng Huang Cheng, Shangcheng District, Hangzhou City, with
    a gross floor area of 1177.1 m2 as registered at the relevant property registry. Party B has, before signing
    this Agreement, inspected and understood clearly the proof of title, location, use, surrounding environment, year of construction,
    nature and interior facilities (including equipment), etc., of the property, and agrees to rent the abovementioned property
    on an “as-is” basis. On the handover of the leased property by both parties, both parties shall confirm the basic
    conditions, appurtenant facilities and equipment, and water, electricity and gas meters of the property, and forthwith sign
    a “Handover Checklist”. 
	 	 
	Clause
    2	The
    lease term shall be from 15 February 2018 to 14 February 2021.


 


	Clause
    3	Rent
    and time for payment of rent: 
	 	 
	 	1.	Party
    B shall pay rent once every twelve months. The annual rent shall increase by 6% for each subsequent year. The rent shall be
    paid first before the property is handed over for use. The details are as follows:


 


	 	Time	 	Daily Rent
 (RMB/day·m2)
	 	 	Leased Area
 (m2)
	 	 	Total Rent 
(RMB)	 
	 	15 February 2018 to 14 February 2019	 	 	6	 	 	 	1177.1	 	 	 	2577849	 
	 	15 February 2019 to 14 February 2020	 	 	6.36	 	 	 	1177.1	 	 	 	2732520	 
	 	15 February 2020 to 14 February 2021	 	 	6.74	 	 	 	1177.1	 	 	 	2895784	 



 






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Remittance
information:


Account
Name: Zhejiang Huacheng Real Estate Group Co., Ltd.


Account:


Account number:


 


	 	2. 	Within
    three days of signing this Agreement, Party B shall pay a deposit of RMB429642 in total, and the deposit shall be converted
    into a security deposit after this Agreement takes effect. The security deposit is not prepaid rent, but merely acts as a
    security for Party B’s due performance of its obligations under this Agreement. If Party B shall be in breach of this
    Agreement, Party A has the right to deduct from the lease security deposit paid by Party B and to require Party B to compensate
    any outstanding damages in accordance with the terms of this Agreement. Upon the expiry of the lease term or the agreement
    of both parties to dissolve this Agreement, and after Party B has settled outgoings such as water, electricity and telephone
    charges and property management fee and completely performed its agreed obligations, the lease security deposit shall be returned
    to Party B with no interest. 
	 	 	 
	 	3. 	From
    the day of the commencement of the lease term, every twelve months shall constitute one payment cycle, and the first payment
    shall be paid in a single installment within three working days from the day this Agreement becomes effective; for each of
    the remaining periods, Party B shall pay twelve months’ of rent 30 days in advance. After Party A receives any rent
    payment, Party A shall provide a value-added tax (common) invoice for a tax rate of 5%.


 


	Clause
    4	Manner
    of payment of outgoings such as management fee, water and electricity charges and telephone charges, and maintenance and use
    of the leased property:


 


	 	1.	Management
    fee:
	 	 	 
	 	 	(1)	Property
    management fee
	 	 	 	 
	 	 	 	The
    current rate is RMB5/month*m2.
	 	 	 	 
	 	 	 	Manner
    of payment: Party B shall pay the fee of each period to the property management company.
	 	 	 	 
	 	 	(2)	Power
    usage charges
	 	 	 	 
	 	 	 	The
    requisite share of power usage charges incurred for running the public facilities and equipment (e.g. lift(s), water pump(s),
    central air conditioner(s), underground parking garage lightings, passageway lightings, etc.), in accordance with the regulations
    of the commodity price authority(ies), shall be charged against Party B.
	 	 	 	 
	 	 	 	Manner
    of payment: Party B shall pay the charges to the property management company every month;


 






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	 	2.	Water
and electricity charges: Party B shall pay to the relevant authorities every month;
	 	 	 
	 	3.	Telephone
    charges: Party B shall pay to the relevant authorities every month.
	 	 	 
	 	4.	In
    addition to the aforementioned charges, Party B shall be responsible for charges in relation to the leased property, such
    as digital television, broadband and sanitary charges.
	 	 	 
	 	4.
    	Party
    B shall pay each of the outgoings in time in accordance with the aforementioned terms. If any of the abovementioned outgoings
    has been paid by Party A or is to be received by Party A on behalf of another person, Party B shall pay such outgoings within
    seven days of receiving a payment notice in writing from Party A.
	 	 	 
	 	5.	During
    the lease term, Party A shall be responsible for quality of the leased property and its facilities and equipment provided
    by Party A during the warranty period, and if any quality issue shall arise, Party A shall be responsible for notifying workers
    / suppliers in time to carry out repair and maintenance work. Party B shall be responsible for the day-to-day maintenance
    during the warranty period, and the repair and maintenance after the warranty period, of the aforementioned lease property
    and facilities and equipment, including but not limited to changing and maintaining consumable items, cleaning of air conditioning
    outlets, etc.. If Party A wishes to carry out repair and maintenance works on the property and its appurtenant facilities,
    it shall give 2 days of prior written notice to Party B, and Party B shall assist and cooperate.


 


	Clause
    5	Assignment
and transfer, sublet:



 


	 	1.	During
    the lease term, if Party B wishes to transfer or sublet the leased property or let a third party use the leased property in
    its place, the prior written consent of Party A is required.


  



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	Clause
6	


Obligations



 


	 	Party
    B’s obligations:
	 	 
	 	1.	During
    the lease term, Party B shall pay the rent and each of the outgoings in time as agreed, and if Party B is a body corporate,
    Party B’s legal representative or responsible person shall be jointly and severally liable for Party B’s obligations
    under this Agreement.
	 	 	 
	 	2.	If
    Party B needs to conduct alteration or fitting out works in or install additional equipment to the leased property, it shall
    first seek the prior written consent of Party A and comply with the disclosure procedure as required by the relevant authority(ies)
    before carrying out such works. Party B shall not appertain any items or paint any paints or carry out any alteration works
    inside or outside the leased property, unless with the written consent of Party A. If Party B needs to remove a partitioning
    wall of the leased property, it shall seek the written consent of Party A, and in the case that this Agreement is not renewed
    upon expiry, it shall reinstate the partitioning wall.
	 	 	 
	 	3.	During
    the leased term, Party B shall take reasonable precaution measures to keep the equipment and facilities within the lease intact
    (fair wear and tear excepted). Party B shall not change the structure and use of the leased property without consent, and
    if such changes are necessary, it shall seek the written consent of Party A. Party B shall be liable for compensation for
    and shall reinstate any damage to the leased property and its equipment caused by Party B.
	 	 	 
	 	4.	If
    Party B wishes to terminate this Agreement in advance, it shall give two months’ prior written notice to Party A, and
    this Agreement may only be terminated after Party A has given its written consent.
	 	 	 
	 	5.	Party
    B warrants that the leased property will be used for commercial office purposes, and will observe all laws and regulations
    of the People’s Republic of China and all policies of the government of Hangzhou City, and will observe the agreement
    signed between Party A and the property management company, and will not conduct illegal business activities. Party B warrants
    the safety within the premises of leased property while carrying out business activities, and warrants that it will not store
    any nationally prohibited items or dangerous items within the leased premises, and Party B shall take timely countermeasures
    against and be liable for any event such as personal injury, property damage or fire accident caused by Party B or which shall
    occur within the leased premises.
	 	 	 
	 	 	Before
    the signing of this Agreement, Party A has mortgaged or charged the leased property to a bank. After the signing of this Agreement,
    if Party A should release the leased property from any encumbrances and/or create any mortgage or charge in respect of the
    leased property, Party B shall cooperate and shall unconditionally provide any relevant document requested by the mortgagee
    or chargee. However, Party A warrants that if it will fully compensate Party B for any damage caused to Party B as a result
    of the mortgagee’s or chargee’s exercise of its rights under the mortgage or charge; if Party B refused to cooperate
    and provide relevant documents requested by the mortgagee or chargee, Party A shall have the right to terminate this Agreement
    without being liable in any way.



 






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	 	6.	Upon
    the expiry of this Agreement, if Party B needs to extend the lease term, it shall have the priority to a lease only if it
    gives 3 months’ prior written application to Party A (the rent shall be adjusted by Party A according to the prevailing
    market conditions), and Party B shall sign a new lease agreement with Party A 2 months before the expiry of this Agreement.
    If both parties are unable to reach a consensus on the terms of lease renewal and sign a new agreement 2 months before the
    expiry of the lease term, Party A shall have the right to lease the leased property to any third party after the expiry of
    the leased term, and Party B shall, at reasonable times during the 2 months before the expiry of the leased term under this
    Agreement, permit potential new tenants to inspect and view the leased property and permit Party A to display notices at any
    place it shall deem appropriate (provided that Party B’s normal business activities are not affected) to signify that
    the leased property will soon be vacated and available for lease.
	 	 	 
	 	7.	Party
    B shall, within 3 days from the expiry of the lease term or termination of this Agreement, redeliver the leased property and
    its appurtenant facilities and equipment to Party A, and if Party B fails to redeliver in time, it is required to pay to Party
    A an occupation fee at a rate which is double the standard daily rent of the relevant period, as well as any other resulting
    damages which Party A shall incur (e.g. liabilities to any subsequent tenant for breach of contract). If for any reason the
    lease is terminated and the leased property is to be redelivered, Party B shall keep the property and facilities and equipment
    intact (fair wear and tear excepted); during redelivery, Party B shall not remove any fixtures which it has installed with
    the written consent of Party A and such fixtures shall be delivered to Party A free of charge; in respect of any fixtures
    that Party B has installed without the written consent of Party A, Party A may by written demand require Party B to carry
    out reinstatement works within 7 days after termination of this Agreement; at redelivery, Party B shall remove any moveable
    items from the property and keep the property clean and tidy, and redeliver the property in its original conditions as set
    out in the “Handover Checklist” (fair wear and tear excepted).) If Party B is unable to perform the aforesaid
    agreement, Party A has the right to lien on the items left by Party B in the leased property, and Party B shall fully perform
    its obligations under this Agreement within seven days, and if after 7 days it is still unable to perform, Party A has the
    right to, by itself or any other person on its instruction, deal with the leftover items (including but not limited to: treating
    the property under lien as in-kind compensation, auctioning, selling the property under lien and having a priority claim
    over the proceeds from sale, etc.). At the same time, Party A has the right to, by itself or any other person on its instruction,
    conduct clean, repair or replacement works in the leased property, and the Party B shall be liable for the resulting costs
    which Party B shall pay within 3 days’ of its receipt of a written notice from Party A, and Party A has the right to
    deduct the requisite amount from the lease security deposit (and/or) the proceeds from the sale of the items under lien (and/or)
    to treat the property under lien as in-kind compensation and offset the liability by the value of the property under lien.


 






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	 	Party
    A’s obligations:
	 	 	 
	 	1.	Party
    A may provide Party B with copies of the property ownership certificate for Party B’s business license application.
	 	 	 
	 	2.	Liaising
    with the property management company in conducting regular repair and maintenance works on the public facilities in accordance
    with the landlord user manual of the building.
	 	 	 
	 	3.	Liaising
    with the property management company in building management works in accordance with the landlord user manual of the building.
	 	 	 
	 	4.	Be
    responsible for the structural repair and maintenance of the leased property.
	 	 	 
	 	5.	If
    Party A wishes to terminate this Agreement prior to its expiry, it shall give two months’ prior written notice to Party
    B, and this Agreement may only be terminated after Party B has given its written consent.


 


	Clause
    7	Amendment
    to, dissolution of and termination of the Agreement


 


	 	1.
    	Both
    parties may agree to amend or terminate this Agreement.
	 	 	 
	 	2.
    	During
    the lease term, any of the following conduct of Party B shall be deemed a material breach, and on such occasion Party A shall
    have the right to dissolve this Agreement:
	 	 	 
	 	 	(1)	Changing
the lease use provided in this Agreement without consent; using or permitted other persons to use the leased property for conducting
illegal activities.
	 	 	 	 
	 	 	(2)	
    Without the consent of Party A, demolishing or changing the structure of the leased property; or failing to submit its fitting
    out or alteration plans for Party A’s approval in accordance with the terms of this Agreement.
	 	 	 	 
	 	 	(3)
    	Without
    the consent of Party A, transferring, assigning, or subletting the property or letting a third party use the leased property
    in its place.
	 	 	 	 
	 	 	(4)	Failing
to pay in time part or all of the rent, deposit, management fee and other outgoings for more than ten days, and still failing
to make payment in full before the deadline as set out in Party A’s demand letter; during the overdue period, Party B shall
pay late penalty for any arrears of payment at a rate of 1‰/day.
	 	 	 	 
	 	 	(5)	Breaching
    other terms of this Agreement and failing to take requisite remedial actions after Party A’s written notice.
	 	 	 	 
	 	3.        
    	If
    Party B fails to pay rent or outgoings in time or this Agreement shall be terminated, Party A (and the property management
    company on its instruction) has the right to take measures, including but not limited to cutting water supply, cutting electricity
    supply, blocking passageways, etc., to repossess the property.
	 	 	 
	 	4.       	If
    this Agreement is dissolved (or the proper performance of which is rendered impossible) as a result of the fault of one party,
    the defaulting party shall be liable in accordance with the terms of this Agreement or laws and regulations, and in addition
    shall pay to the other party liquidated damages at an amount equal to 30% of the agreed annual rent of that year.


 






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	Clause
    8	If
    by reason of force majeure the leased property or its equipment is damaged, both parties shall actively prevent the damage
    from exacerbating and shall conduct repair and maintenance or replacement work as soon as possible, and both parties shall
    not be liable for damages to each other; if the fault, such as non-disclosure, delay in giving notice and negligence, on the
    part of Party B has caused the damage to exacerbate, Party B shall be liable for compensating the exacerbated damage. If by
    reason of force majeure this Agreement is rendered impossible to perform, this Agreement shall terminate automatically; if
    the building is demolished during the lease term, this Agreement shall terminate automatically; in the case of the aforesaid
    instances, the related actual costs incurred shall be settled, and both parties shall not be liable for damages to each other.


 


	Clause
    9	Service


  


	 	1.	All
    documents, notices, information, etc., may be sent to the designated correspondence address of the recipient in person or
    by registered post or by air speedpost, by fax, by telex, by telegraph or by other methods as deemed appropriate by the relevant
    parties. Any written communication sent to a party to this Agreement, e.g. by registered post or any methods which provide
    records of sending to the designated correspondence address as set out in this Agreement or other reasonably ascertained recipient
    address (e.g. address shown on business license, address on identity card, registered household address), shall be deemed
    to be duly served.
	 	 	 
	 	2.	 Should
    there be any change to the correspondence address of any party as set out in this Agreement, the party shall give written
    notice to the other party within seven days of such change, and if not, the liability and negative consequences of any failure
    of service caused shall be borne by the defaulting party, and any party serving notices to the original address shall be deemed
    to have duly served such notices.
	 	 	 
	 	3.	After
    the business unit of Party B carrying out business in the leased property obtains its business license, notices to be sent
    to Party B or its business unit may be sent to the leased property, and the service to any one of Party B or its business
    unit shall be deemed as due service to the two parties.


 


	Clause
    10	Others


   


	 	1.	Within three days after Party B obtains a business license through its business unit which will commence business in the leased property, Party B shall cause the business unit to affix its common seal onto this Agreement for confirmation, and if the common seal is not affixed in time, Party B shall be deemed to be in breach of contract, and Party A shall have the right to dissolve this Agreement and demand that Party B pays 30% of the annual rent as liquidated damages, but if Party A elects not to dissolve this Agreement, Party A has the right to demand Party B to pay liquidated damages at a rate of 1% of the annual rent/day. After the business has given its confirmation by affixing its common seal, Party B and the business unit shall be jointly entitled to and liable for Party B’s rights and obligations under this Agreement. Party A has the right to demand any one of Party B or the business unit to be jointly and severally liable to Party A in respect of the each other’s obligations under this Agreement.



 






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	 	2.	Party
    A rent the house for fine decoration delivery, in principle do not agree to Party B to make further changes, if there is repair,
    minor adjustments must be submitted a written report, after the consent of Party A can be carried out.
	 	 	 
	 	3.	After
    Party B has paid the first rent and deposit, both parties shall confirm the handover list on the spot. All equipment, facilities
    and office furniture on the handover list shall be properly used and shall be returned in good condition after the expiration
    of the contract.
	 	 	 
	 	4.	Any
    unsettled issues under this Agreement shall be resolved by negotiation between Party A and Party B, and if negotiation fails,
    they may commence litigation proceedings at the people’s courts located in the same jurisdiction as that of the leased
    property. The party who has lost the lawsuit shall be liable for all resulting costs (including legal costs, etc.) incurred
    by the party who has won the lawsuit.





 


This
Agreement shall take effect after signing by both parties and Party B has paid the deposit, and shall become invalid after both
parties have completely performed their obligations under this Agreement. There are five sets of originals of this Agreement in
Chinese, three for Party A and two for Party B.


 


	Landlord:
        Zhejiang Huacheng Real Estate Group Co., Ltd.

        Representative:
        (signature) /s/ Representative of Zhejiang Huacheng Real Estate Group Co. ,Ltd.

        Contact
        phone no.:

        Signing
        Date: January 29, 2018
	 	Tenant:
        Hangzhou Dacheng Investment Management Co.,Ltd.

        Representative:
        (signature) /s/ Representative of Hangzhou Dacheng Investment Management Co.,Ltd.

        Contact
        phone no.:

        Signing
        Date: January 29, 2018



  



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