Exhibit 10.18


 


Working Capital Loan Contract


 


Serial no.: Xin Yin Shen Nan You Liu Jie
Zi (2020) no.0008


 


Lender: Industrial Bank Co., Ltd. Shenzhen
branch


 


Address: 15th Floor, Industrial
Bank Building


 


Legal representative/person in charge:
Qiujun Guo


 


Borrower: Shenzhen Yangang Mingzhu Freight
Industry Co., Ltd.


 


Address: Floor 6, Building 1, No.1111,
Shenyan road, Yantian District, Shenzhen


 


Legal representative/person in charge:
Jinlong Yang


 


Signing place: Industrial Bank Co., Ltd.
Shenzhen Branch, Industrial Bank Building, Futian District, Shenzhen


 




     


     


    

 


Important
tips for signing


 


In order to protect
your rights and interests, please carefully read, check and confirm the following matters before signing this contract:


 


I. You have the
right to sign this contract. If consent is required by law, you have obtained full authorization;


 


II. You have carefully
read and fully understood the terms of the contract, and have paid special attention to the contents of the contract concerning
liability assumption, exemption or restriction of the responsibilities of Industrial Bank, and the contents with bold font;


 


III. 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;


 


IV. The contract
text provided by Industrial Bank is only a demonstration text, with blank lines left after relevant terms of the contract and "supplementary
terms" added at the end of the contract for the parties to modify, add or delete the contract;


 


V. If you have any
questions about this contract, please consult Industrial Bank.


 




    2


     


    

 


After
the borrower's application, the lender has examined and approved to make the loan of working capital to the borrower. In order
to clarify the rights and obligations of both parties and abide by the good faith, two parties hereby enter into this contract
in accordance with the relevant laws and regulations of the People's Republic of China through fairly negotiation and mutual agreement.


 


The
lender and the borrower confirm that the loan hereunder falls into circumstance (2) below:


 


(1)
this contract is the sub-contract of the      /       Credit
Line Extension Agreement (i.e., the main contract) signed by the lender and the borrower on      /      
  year      /      month      /      day, and the loan amount is included in the credit line extension under the      /       Credit
Line Extension Contract. The foreign currency loan amount shall be converted into RMB according to the Reference rate
announced by the lender on the date of signing this contract.


 


(2)
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 contracting parties, the following terms in this contract shall be defined and interpreted as
follows:


 


I.
"Working capital loan" means the domestic and foreign currency loan applied for by the borrower to the lender for borrower's
daily production and operation.


 


II.
"Claim", or the principal claim, refers to the borrower (debtor) apply to the lender (creditor), the lender provides
financing and creditor’s rights (including the principal, interest, penalty interest, compound interest, default penalty,
compensation for damage, the expenses of realization of creditor rights, etc.). The creditor's rights held by the lender against
the borrower under this contract correspond to the liabilities of the borrower against the lender under this contract.


 


"Expenses
of realization of creditor rights" shall mean the litigation (arbitration) fees, lawyers' fees, travel expenses, execution
fees, preservation fees and other expenses paid by the lender to realize the creditor's right by means of litigation, arbitration,
application to the notarial office for issuing the enforcement certificate, etc.


 


III.
The following terms in Article 5 of this contract are defined and interpreted as follows:


 


"Fixed
rate" refers to the interest rate that remains fixed for the duration of the loan.


 


"Floating
rate" means the interest rate that varies within the term of the loan according to the cycle and range agreed by the borrower
and the lender.


 


"Floating
cycle" refers to the frequency of the agreed borrowing rate. Within a floating cycle, the interest rate is calculated and
determined at the benchmark rate in accordance with the pricing method agreed in the contract, and the interest rate remains unchanged
within the floating cycle; when a floating cycle expires and enters the next floating cycle, the interest rate shall be calculated
and determined by the benchmark interest rate of the new floating cycle in accordance with the pricing method agreed in the contract,
and the borrowing interest rate shall remain unchanged within the floating cycle.


 






    3


     


    

 


"Pricing
benchmark interest rate" means the interest rate standard used to determine the interest rate of the loan hereunder, including
but not limited to the quoted interest rate published by China or relevant countries, regions or markets, such as LPR, SHIBOR,
LIBOR, HIBOR, SIBOR and RMB Benchmark Interest Rates for Deposits.


 


"LPR"
means the quoted interest rate of the lending market calculated and published by the national interbank lending center authorized
by the People's Bank of China. In accordance with banking practice, the parties agree to determine the applicable pricing benchmark
rate rule under this contract as the T-1 day LPR, where "T" is the date on which the interest rate of this loan is determined
and" T-1 "is the business day prior to that date.


 


"SHIBOR"
refers to the Shanghai Interbank Offered Rate calculated and published by the National Interbank Funding Center that is effective
from time to time.


 


"LIBOR"
refers to the T-2 interbank lending rate in the London financial market, including us dollars, euros, yen, etc. Where "T"
is the actual date of payment of the loan, and "T-2" is the first two working days of the actual date of payment of the
loan, similarly hereinafter.


 


"HIBOR"
refers to the T-2 Day Hongkong Interbank Offered Rate prevailing on Hong Kong financial market.


 


"SIBOR"
means the Singapore Interbank Offered Rate in a currency that is applicable only to the Singapore dollar. In accordance with banking
practice, the parties agree to determine the applicable pricing benchmark rate rule under this contract as T-2 SIBOR, where "T"
is the date on which the interest rate of this loan is determined and" T-2 "is the two business days prior to that date.


 


"RMB
Benchmark Interest Rates for Deposits" refers to the RMB Benchmark Interest Rate for Deposits published by the People's Bank
of China and applicable on that day


 


Among
above terms, the currencies and specific values of "LPR", "SHIBOR", "LIBOR", "HIBOR", "SIBOR"
and " RMB Benchmark Interest Rates for Deposits" determined in accordance with the applicable pricing benchmark interest
rate rules hereunder shall be subject to the query results of Industrial Bank's core system. The date on which the interest rate
is fixed 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
rate is repriced.


 


"Loan
interest rate" means the contract execution interest rate which is agreed upon by both parties through negotiation, followed
by the contract loan interest rate pricing formula, and based on the pricing benchmark interest rate on the date the contract loan
interest rate is determined, and formed by floating of points.


 


IV.
The contract stipulated in Article 13 "significant transaction" means (including but not limited): anything which might
have badly effect on basic organization of borrower’s company, changes of stockholder, contingent liability, cash flow, profitability,
core business secret, important assets, significant claims and debts, repayment ability, other transactions which are considered
as significant transactions by lender and/or borrower.


 






    4


     


    

 


V.
The contract stipulated in Article 13 "significant event" means (including but not limited): anything which may have
badly effect on executives’ operational capability, employment and termination of core staff, core business secret, core
competence, basic organization, legality, stability, development, profitability, repayment ability, other events which are considered
as significant events by lender and/or borrower.


 


VI.
"Working day" means banking day, If the drawdown date or the repayment date is in legal holidays, then it is delayed
to the first working day after the holidays.


 


Article
2 Loan amount


 


Lender
agrees to issue loan to borrower, the currency of the loan hereunder is Renminbi and the amount is TWO MILLION AND SIX HUNDRED
THOUSAND YUAN ONLY.


 


Article
3 The purpose of loan


 


The
loan is used for liquidity turnover, and should not be used for any other purposes without written consent of the lender.


 


Article
4 Term of loan


 


I.
The term of the loan hereunder is from April 21,2020 to April 20 2021.


 


II.
Where the loan is to be disbursed in a lump-sum, the date of actual disbursement as recorded on the receipt of loan and/or certificate
of loan shall be deemed as the disbursement date. Where the date of actual disbursement is later than the disbursement date so
recorded, the term shall be extended accordingly.


 


III.
Loan shall be disbursed by instalments in accordance with the following schedule:


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


On
___[insert the applicable date], RMB____[insert the applicable amount];


 


The
borrower shall apply to the lender for handling the drawdown procedures three working days prior to the drawdown date of each instalment
or such other time as the lender may require in writing.


 


If
the borrower fails to drawdown the loan in instalments as stipulated above, the lender shall have the right to require the borrower
to pay liquidated damages equal to / over ten thousand of the loan payable in the current period.


 


IV.
The lender shall pay the borrowed funds in accordance with Article 7 of this contract, subject to the pre-requisite of drawdown
stipulated in Article 6 hereof.


 






    5


     


    

 


V.
The lender shall have the right to adjust the plan of use of loan according to such factors as whether the loan meets the provisions
of relevant laws, regulations and policies, the prerequisites for drawdown stipulated in this contract, the terms of payment of
the loan, the signing of the guarantee contract and the processing time of the guarantee formalities in this contract, as well
as other factors that the lender deems necessary.


 


VI.
If the loan is used in different times, each loan date shall be based on the actual issuance date recorded in the loan receipt
and the loan certificate, and the same maturity date shall all be implemented, that is, the maturity date of each tranche of the
loan issued separately shall be the same maturity date as determined by the loan receipt or the loan certificate of the first loan.


 


VII.
If the lender receives the loan in advance in accordance with the circumstances stipulated in this contract, the maturity date
of the loan shall be deemed to be in advance accordingly.


 


Article 5
Interest rate and payment of interest


 


I. Interest
rate


 


(1) The pricing
of benchmark rate shall be the one set forth in item (i) below:


 


(i) LPR of
one year term.


 


(ii) SHIBOR
of      /     term.


 


(iii) LIBOR
of      /     term.


 


(iv) HIBOR
of      /     term.


 


(v) SIBOR
of      /      term.


 


(vi) RMB Benchmark
Interest Rates for Deposits of      /      term.


 


Among above
rates, fixed interest rate of RMB loans should use LPR as pricing benchmark interest rate.


 


(2) The interest
rate determination formula: Interest Rate = pricing benchmark interest rate + 1.805% or –          /       %


 


(3) The interest
rate (meaning a rate per annum, which is applicable to all sections below) shall be determined in accordance with the provisions
set forth in item     (I)      below:


 


(I) Fixed
interest rate. Rate is determined by the way of     (A)     as shown below:


 


(A)
The interest rate shall be determined according to the pricing benchmark interest rate on the actual issuance date and the pricing
formula, and the interest rate shall remain unchanged from the actual issuance date of each loan to the maturity date of this contract.


 


(B)
According to the contract signing date pricing benchmark interest rate and the pricing formula, it is agreed that the fixed interest
rate of the loan is      /      % annualized. If the pricing benchmark
interest rate is adjusted on the actual release date, the addition or subtraction point value in the pricing formula shall be
adjusted accordingly, and the above-mentioned annualized interest rate agreed in this contract shall remain unchanged.


 






    6


     


    

 


(II)
Floating interest rate. The rate shall be determined and the interest shall be calculated in stages according to the benchmark
interest rate and the pricing formula on the actual release date and the repricing date. The repricing date is carried out in the
following way of         /       .


 


(A).
The Interest Rate hereunder shall be adjusted on a(an)         /         [monthly/quarterly/semi-annual/yearly/other period] basis, and
each quarterly anniversary of the date of actual disbursement of the loan shall be an interest rate adjustment date; and for any
month that does not have a date correspond to such anniversary, the last day of such month shall be deemed an interest rate adjustment
date.


 


(B).
                                         /                                            


 


In
case of any adjustment to the pricing benchmark interest rate during the loan period, no notice will be given to the borrower.


 


(iii) Any other
interest rate:            /               .


 


(iv) The pricing
benchmark interest rate corresponding to the loans used under this contract shall be determined on the basis of the actual release
date (or repricing date, if any) of each loan.


 


(v)
If the loan issued under this contract is cancelled by China or the relevant countries / regions, or the market no longer publishes
the pricing benchmark interest rate, or as required by the regulatory authorities, the lender has the right to notify the borrower
after redetermining the borrowing rate according to the interest rate policy of China or the relevant countries / regions in the
same period, in accordance with the principle of fairness and good faith, and with reference to industry practice, interest rate
status and other factors. If the borrower has any objection, he shall consult with the lender. If no agreement can be reached within
five working days from the date of the notice issued by the lender, the lender shall have the right to collect the loan in advance,
and the borrower shall immediately repay the remaining principal and interest of the loan. If at that time the lender requests
or the state or regulatory policy requires the borrower to sign a supplementary agreement on related matters, the borrower shall
cooperate.


 


II.
Measures of Payment of Interest


 


(1)
Calculation of interest. Interest shall be calculated on the principal of the loan, whether in RMB or foreign currency, starting
from the date on which the loan is remitted into an account of the borrower by the lender under this agreement. The interest to
be calculated on the loan per day = amount outstanding of loan × daily interest rate. The conversion between daily rate and
annual rate shall be conducted in accordance with the applicable PBOC regulations and international practice.


 


(2)
The interest calculated on the loan shall be paid in the manners set forth in item (i) below:


 


(i)
It is agreed hereunder that the 21st day of each calendar month [each calendar month/the last month of each calendar quarter/the
last month of each half year/the last month of each calendar year/other period] shall be an interest settlement date, and the borrower
shall pay the lender the interest for the current interest period on the settlement date. The borrower shall pay the outstanding
amount of principal and interest when the loan is due.


 






    7


     


    

 


(ii) The date that
falls on the day immediately preceding the       /       [monthly /quarterly/semi-annual/yearly/other period] anniversary of the date
of actual disbursement of the loan (or for any month that does not have a date corresponding to such anniversary, the last day
of such month shall be deemed an anniversary) shall be the interest settlement date. The borrower shall pay the lender the interest
for the current interest period on the settlement date. The borrower shall pay the outstanding amount of principal and interest
when the loan is due.


 


(iii) First interest
payment day is       /       year        /       month         /         day, every          /        (month/quarter/six months/years/other period) after the
first interest payment date (if no corresponding day in the particular month, last day of that month should apply) is the interest
payment date for each term, the borrower should make the payment to the lender on the interest payment date, and clear the remaining
principal and interest when the loan expires.


 


(iv) Any alternative
manners for the payment of interest            /                .


 


III Default Interest
and Compound Interest


 


(1)
In the event that the borrower misappropriates any amount of the loan for any purpose other than those specified herein, the borrower
hereby authorizes the lender to charge penalty interest on such amount misappropriated at a default interest rate equal to the
interest rate plus 50%. In the event that the borrower fails to repay any amount of the loan and fails to reach agreement
with the lender on the extension of the term, and as a result, such amount becomes delinquent, the borrower hereby authorizes
the lender to charge default interest on such delinquent amount at a default interest rate equal to the interest rate plus 50%.
In the event that any interest accrued on the loan fails to be paid on time, the borrower hereby authorizes the lender to charge
compound interest at the default interest rate applicable to the delinquent amount specified above.


 


(2) Where the interest
rate is a fixed rate, the default interest rate shall also be a fixed one; and accordingly, where the interest rate is a floating
rate, the default interest rate shall also be a floating one. The floating period of the default interest shall be consistent to
that of the interest rate.


 


(3) The default
interest and the compound interest shall be calculated and collected in the same way as the regular interest on the loan set forth
herein.


 


Article
6 Pre-requisite of drawdown


 


I.
The lender shall have no obligation to provide the loan hereunder to the borrower unless the following pre-requisites are satisfied:


 






    8


     


    

 


(1)
The borrower has provided all the followed documents requested by the lender, and ensure that the information in such documents
is continuously valid or the lender has obtained satisfied explanation and interpretation of the changes of such information:


 


1.
The loan application, the main contents including but not limited: type of loan, the amount sum, purpose, duration, plan, term,
repayment schedule and source of repayment;


 


2.
The borrower’s true and valid business licence, Articles of Association, the card of loan account and password, the legal
representative, the board members, the principal responsible persons in charge of finance recorded of and specimen signatures in
the administrative department for industry and commerce registration, a valid identity document of legal representative or authorized
representative, any other necessary corporate documents requested by the lender;


 


3.
Resolutions of the board of directors or the shareholders' committee, which are in accordance with legal procedure; are voted to
pass by the quorum of the directors or shareholders; are real, legal and valid; are in relation to the approval of the application
of loan applied to the lender herein; are written explicitly with the use of loan and acceptance of the terms and conditions requested
by the lender. Other documents that are considered as necessary by the lender;


 


4.
Annual reports for the last three years (with audit reports and notes) recognized by the lender; financial statements for the latest
period and the same period of last year; annual reports since the establishment if the borrower registered less than three years;


 


5.
Related enterprise information;


 


6.
If applying for temporary working capital loan, it shall provide relevant contracts, vouchers or materials such as purchase contract,
order contract, indebtedness certificate, etc.;


 


7,
If plans to use the pledge or mortgage, should provide evidence of ownership of the pledged or mortgaged collaterals and related
assessment report; follow any registration procedure in accordance with the relevant laws and regulations; the original copies
of relevant evidentiary documents of ownership, proof of registration documents has been kept by the lender; if a third party guarantee
is proposed, relevant guarantee materials shall be provided in accordance with the requirements in items 2 to 4 above, and ensure
the guarantee contract has already taken effect; the above security shall continue to be effective;


 


8.
If the lender requires insurance for the pledge or mortgage, the insurance procedures for the lender as the first beneficiary should
have been completed and the original insurance policy has been handed over to the lender for record; and the insurance shall remain
in force; where the borrower provides the mortgage or pledge, the borrower should hereby transfers to the lender the right to claim
the insurance premium due to the occurrence of the insurance event;


 


9.
Enterprises in special industries shall provide the production and operation license or enterprise qualification certificate issued
by authorized departments;


 






    9


     


    

 


10.
If either party of this contract requires notarization, relevant notarization procedures should have been completed;


 


11.
The borrower has opened an account with the lender as required by the lender, and voluntarily accepts the lender's supervision
on credit status and settlement;


 


12.
When applying for a loan for a foreign exchange loan, the borrower shall provide a valid certificate of the purpose of the foreign
exchange loan and the approval documents of relevant departments, and shall comply with the relevant foreign exchange management
policies;


 


13.
Value added tax, business tax and income tax returns required by the lender;


 


14.
Other documents, statements, vouchers and other materials required by the lender.


 


(2) The borrower
is established in accordance with law, its production and business operations are lawful and in compliance with the law, and it
has the ability to continue operations and has a legitimate source of repayment;


 


(3) The purpose
of the loan is explicit, legitimate and lawful;


 


(4) The statement
and commitment made by the borrower in Article 11 hereof are true and valid; No default or potential default occurred on or before
the date of application;


 


(5) The borrower
has completed the receipt of loan or loan voucher related to the drawdown of loan. A receipt of loan or certificate of loan is
an integral part of this contract and has the same legal effect as this contract. If the amount, term and interest rate of the
loan hereunder are inconsistent with the record of the receipt of loan or the loan voucher, the record of the receipt of loan or
the loan voucher shall prevail;


 


(6) The borrower
has a good credit standing and no serious adverse record; If the borrower is a new company, the controlling shareholder shall have
a good credit standing and no serious bad record;


 


(7) Other
preconditions for drawdown required by the lender.


 


II. The lender's
performance of its obligations hereunder is subject to the satisfaction of the drawdown pre-requisites set forth in this article.
The borrower has the right to unilaterally decide to reduce or waive part of the pre-requisites for drawdown, which the borrower
or surety cannot use as a defence against the lender.


 


III. The lender
shall have the right to appropriately adjust the loan repayment according to whether the financing project meets the provisions
of relevant laws, regulations and policies, as well as the pre-requisites for drawdown required by the lender, and the execution
of corresponding security contract and the time for the formalities of security.


 


IV. The borrower
hereby agrees that, after the signing of this contract, if any drawdown of the borrower fails to meet the drawdown pre-requisites
stipulated in this contract or the payment conditions of the loan, the lender has the right to stop the disbursement, the payment
or terminate the loan contract, the resulting liability or loss is borne by the borrower. If the lender terminates the contract,
it shall notify the borrower. The borrower's objection period is five working days from the date when the borrower received the
notice. If the borrower has no objections, the contract will be automatically terminated. If the borrower has objections and no
solutions had concluded after five workdays from the expiration of objection period, the lender has the right to recover the loan
in advance.


 






    10


     


    

 


5. If the
borrower meets the pre-requisites for drawdown stipulated in this contract upon examination and verification by the lender, the
lender shall pay the loan in accordance with Article 7 hereof.


 


Article 7
Monitoring of accounts and payment of loan


 


1.
Monitoring of accounts


 


According
to relevant laws, regulations and supervising system, the borrower promises to meet the prerequisite under the contract before
disbursing loan, and use the loan according to the agreed purposes. The lender has the right to monitoring the borrower’s
basic deposit accounts, general deposit accounts, special deposit accounts, the disbursement, payment and repayment of loans according
to the contract.


 


The
following account provided by the borrower is specially designated account for collection, and the borrower should provide the
inflow and outflow in this account:


 


Account
Name: Shenzhen Yangang Mingzhu Freight Industry Co. Ltd.


 


Account
Number: ******************


 


Bank:
Industrial Bank, Shenzhen Huafu Branch


 


Based on the borrower’s
credit standing and financial condition, the lender can sign the other account management agreement with the borrower to manage
the funds of the borrower. The lender has the right to recover the loan in advance according to the conditions of funds in this
account.


 


2.
Payment of the Loan


 


(1)
The lender has the right to manage and monitor the loan through the methods of entrusted payment by lenders or discretionary payment
by borrowers.


 


(A)
“Entrusted payment” by lenders refers to the borrower authorize the lender to pay the loan to the counterparty conform
to the use of loan under the contract.


 


When
adopting the way of entrusted payment by lenders, before the disbursement of loans, the borrower should provide information of
the transaction for the use of purpose. After examination and approval by the lender, the lender shall pay the loan to the counterparty
through the borrower's account.


 


When
adopting the way of entrusted payment by lenders, if the loan has been paid to the counterparty, and the paid funds is returned
for the reasons of invalid contract, the lender has the right to recover loans in advance according to Article 12 of the contract.


 


(B)
“Discretionary payment” by borrowers means the lender will disburse the funds to the borrower's loan account, and paid
by the borrower to the counterparty conform to the use of loan under the contract.


 






    11


     


    

 


When
adopting the way of discretionary payment by borrowers, the borrower shall periodically report to the lender in relation to the
payment, and the lender has the right to check the use of loans through account analysis, voucher inspection, or field investigation.


 


(2)
Entrusted payment


 


It
is agreed that the entrusted payment method will be employed if it meets the below conditions:


 


A.
The loan relationship with the borrower is new and the borrower's credit grade is just in Class B3 (included) or less. The loan
relationship with the borrower is new refers to the first time of establishment of credit business between lender and borrower
or no credit business engaged within two years between lender and borrower.


 


2.
The working capital loans used for replacement;


 


3.
The recipient of the payment is very clear and the amount of single loan payment is larger than RMB 10 million Yuan;


 


4.
Other:                  /                              .


 


(3)
During the course of disbursement and remittance, if the borrower experiences any of the following, the borrower should supplement
the conditions of disbursement and remittance, the lender shall have the right to adopt more strictly conditions for disbursement
and remittance or even suspend the disbursement and remittance or take actions in accordance with the clause 2 in Article 14 in
this contract:


 


A.
the credit standing of the borrower deteriorates;


 


B.
the borrower’s profit-making ability is weak;


 


C.
there is abnormalities in the use of the loan funds;


 


D.
other situations the lender considered appropriate.


 


Article
8 Repayment of principal and interest


 


1.
The loan principal under this contract is repaid by the way of the following section (C):


 


A.
Repaid by installments, as scheduled below               /                   .


 


B.
All loans are repaid in full and in one lump sum when maturity.


 


C.
Other means of repayment: Starting from the third month after the disbursement of the loan, the principal of the loan shall
be repaid RMB 100,000 yuan every month, and the outstanding amount shall be paid in lump-sum when due.


 


2.
The Borrower shall repay the principal and interest stipulated in this contract, on the date of maturity and the interest settlement
date.


 


3.
If the repayment date is a not a working day for the lender, the repayment will be postponed to the next working day, and shall
be counted into the actual number of days occupied by the loan. The borrower shall repay the interest together with the principal
in the last repayment of the loan and is not bound by the interest repayment date specified in Article 5 hereof.


 






    12


     


    

 


4.
If the borrower is unable to repay the loan hereunder on time and desires to extend the term of the loan, the Borrower must submit
an application for extension in writing to the lender 60 business days in advance. Upon the lender’s approval, two
parties must execute a loan extension contract as a supplement hereto.


 


5.
Prepayment


 


The
Borrower shall repay the loan principal and interest on the due date under the contract.


 


If
the borrower desires to repay the loan ahead of the schedule, the borrower must submit an application to the lender 30 business
days in advance for approval. After the approval of the lender and the partial prepayment, the borrower should negotiate with the
lender regarding term, schedule and amount of outstanding balance. The lender should collect the interest of prepayment according
to the actual usage life with the rate agreed herein.


 


For
the part of prepayment, the lender has the right to request         /         % of interest as compensation.


 


6.
If the borrower fails to perform the contract or breach the contract, the borrower hereby irrevocably authorizes the lender to
recover the funds from accounts of all branches of the Industrial Bank without going through the judicial process, including but
not limited to loan principal and interest (including default interest, compound interest), related expenses under this contract.
The borrower agrees that the lender has the right to determine the specific sequence to deduct. If the currency of funds in the
account is not the same as the currency of loan, the lender shall have the right to use the reference rate issued by the lender
at the day of deduction to convert the amount into the currency of loan. If any other bank accounts agreed involving financial
product or structured deposits and other products, the borrower shall be hereby irrevocably authorize the lender to request for
redemption of related products directly on behalf of the borrower or take other necessary measures, to ensure that the lender can
deduct the above mentioned funds, the borrower shall provide all necessary cooperation.


 


Article 9
Security


 


I. The contracts
of security under this contract including but not limited to:


 


1)
Guarantee contract (contract name) coded Xin Yin Shen Nan You Bao Zheng Zi (2020) no. 0010, way of security is guarantee
, guarantor is Jinlong Yang ;


 


2)
Guarantee contract (contract name) coded Xin Yin Shen Nan You Bao Zheng Zi (2020) no.0011, way of security is guarantee
, guarantor is Shenzhen Yangang Mingzhu Logistics Co. Ltd. ;


 


II.
In addition to the above signed security contract, in case of exchange rate fluctuation or any other event which the lender considers
may affect the performance ability of the borrower or the guarantor, the lender shall have the right to require the borrower to
add margin or provide new security and sign the relevant security contract, and the borrower shall cooperate as required by the
lender.


 






    13


     


    

 


III. The lender
shall have the right not to perform the loan and other obligations hereunder until the signing of the guarantee contract and the
guarantee procedures are completed.


 


Article
10 The rights and obligations of both parties


 


1.
Lender's rights and obligations


 


(1)
The lender’s rights:


 


A.
The right to require the borrower to repay the loan principal and interest;


 


B.
The right to require the borrower to provide all information relating to loans;


 


C.
The right to know the borrower's productional, operational and financial condition;


 


D.
The right to supervise the purpose of the loan;


 


E.
The right to supervise the use of loans and make requests;


 


F.
The borrower shall have the right to deduct the principal and interest of the loan (including principal, interest, penalty interest
and compound interest), liquidated damages, damage compensation and the expenses of the creditor's rights from any account opened
by the borrower at the lender and all branches and subsidiaries of Industrial Bank without going through judicial procedures. The
borrower agrees that the lender shall have the right to determine the specific sequence of collection. If any of the accounts mentioned
in this paragraph involve financial products or structured deposits, the borrower hereby irrevocably authorizes the lender to initiate
the redemption application for the relevant products or take other necessary measures on behalf of the lender to ensure the successful
deduction of the said funds.


 


G.
The lender has the right to transfer whole or part of the debt and rights and interest of security to a third party without obtaining
the consent of the borrower at any time under this contract. If the lender transfer whole or part of the debt and rights and interests
of security to a third party, the borrower still bear all the obligations under the contract;


 


H.
If the borrower fails to repay the loan in accordance with the contract or the implementation of debt, the lender has the right
to disclose at the Credit Information Center of People's Bank of China or the news media, and to take legal measures like winding
up, litigation or arbitration;


 


I.
The right to prepay the loan unilaterally based on the borrower’s inflow;


 


J.
In the event of exchange rate fluctuations or other evets that affect the safety of their creditor's rights, the debtor shall be
obliged to provide pledge, such as deposits, or implement other risk mitigation recognized by creditors.


 


K.
The right to own other tights ruled by laws, regulations, rules or other regulations stipulated in this contract.


 






    14


     


    

 


(2)
The lender’s obligations:


 


A.
Disburse and remit loan funds according to this contract;


 


B.
Keep confidential of all the information of borrower's debt, finance, production, operation, but the following exceptions:


 


(a)
Laws and regulations;


 


(b)
Regulatory requirements or stipulations;


 


(c)
The disclosure for lender's partner.


 


2.
The borrower's rights and obligations


 


(1)
Borrower owns following rights:


 


A.
The right to drawdown and use loans according to the terms under this contract;


 


B.
The right to request the lender to keep confidential of the information provided in accordance with this agreement.


 


(2)
Obligations of the borrower:


 


A.
The borrower shall provide the requested documents, as well as all name of bank account, account number, deposit and loan balances,
and to meet the lender's investigation, examination and inspection;


 


B.
To accept monitor and inspection conducted by the lender on the use of funds, related production management and financial activities,
and promptly take reasonable action for the lender’s requests;


 


C.
To use the loan for the purpose according to this contract, not for other purposes. Ensure that the loan shall not be used for
investment in fixed assets; shall not be used for the prohibited production, operation and areas; shall not be used for other investment
like equity capital; shall not be used for securities, futures, real estate, etc.; shall not be used for lending activities among
companies and illegal activities restricted by other countries; not allowed to make misappropriation or diversion of loans;


 


D.
Agreed to accept the lender to monitor the accounts and repayment of loans according to Article 7 of the contract;


 


E.
To timely and fully repay loan principal and interest according to this contract;


 


F.
Without the written consent of the lender, the borrower shall not transfer all or part of debt to a third party;


 


G.
Shall not reduce the registered capital; shall not extend the subscription period without lender’s consent.


 






    15


     


    

 


H.
Before the merger, division, equity transfer, foreign investment, substantial increase in the debt financing and other major issues,
the borrower should provide a written notice to the lender at least 30 days and should obtain the written consent of the lender,
and actively implement the safeguards as required by the lender under the contract to repay loan principal and interest on schedule
and in full. Above-mentioned major issues including but not limited to:


 


(a)
Apply for loans from banks or other third party, or provide loans to third parties, or provide guarantee for the debt of a third
party, or substantial increase in debt financing, or other events affect or may affect the repayment of the loan principal and
interest;


 


(b)
Make significant changes in ownership and operation(including, but not limited to, signed a joint business cooperation contract
with foreign corporation, Hong Kong, Macao and Taiwan; cancel, wind up, suspend production, change the lien of production; separation,
consolidation, merger, merged; reorganization, the formation or converted into a joint stock company; foreign investment; using
real estate, equipment and other fixed assets or trademarks, patents, proprietary technology, land use rights and other intangible
assets to invest in shares or stock companies or investment firms; using leasing, contracting, joint venture and trusteeship or
other measures to engage trading of property rights and rights of operations);


 


(c)
A change of 30% in shareholding (including but not limited to, equity transfer, trusteeship, entrustment, pledge, etc.).


 


I.
The borrower shall notice the lender with written application from the date of the following events occur or may occur in 7 working
days, and actively make safeguards required by the lender to ensure the loan and interest under the contract to be repaid timely:


 


(a)
Significant financial loss, loss of assets or other financial crisis;


 


(b)
Suspension, revocation or cancellation of business license, apply for or filed for bankruptcy, dissolution and others;


 


(c)
Major financial or operational crisis faced by lender’s controlling shareholder and other related company that affect its
normal operation;


 


(d)
Changes of the borrower's legal representative, directors or senior management of important personnel that affect its normal operation;


 


(e)
A change of 30% in the surety’s shareholding (including, but not limited to, equity transfer, trusteeship, entrustment,
pledge, etc.);


 


(f)
Significant related party transaction among borrower and its controlling shareholders and other affiliated companies that affect
its normal operation.


 


(g)
Any litigation, arbitration or criminal, administrative penalties cause significant adverse consequences on its operational or
financial position;


 


(h)
Other occurrence that may affect its solvency.


 


J.
To accept the lender's requirements (the request in a reasonable manner and notice the borrower in advance, unless the event of
default or potential event of default or the inability of advance notice due to special circumstances), and allows the lender's
representatives to engage following activities during normal working hours:


 


(a)
Visit the borrower’s office where it carries out business activities;


 






    16


     


    

 


(b)
Check the borrower's premises, facilities, plant and equipment;


 


(c)
Check the record of ledges and all other records;


 


(d)
Inquire the borrower's employees, agents, contractors, sub-contractors about information needed by the lender.


 


K.
The borrower ensure that its current assets, net value of assets, debt asset ratio, current ratio and other financial indicators
should be within the range of:             /               .


 


L.
Regarding the collection letters sent by the lender to the borrower, the borrower must sign after receipt and make acknowledgment
to the lender.


 


Article
11 Representations and commitments of the Borrower


 


The
borrower makes following representations and commitments voluntarily, and assumes legal responsibility for the authenticity of
the content.


 


1.
Borrower is a legal person, which is established according to the laws of People’s Republic of China, with full capacity
for civil conduct. Borrower promises to provide related certificates, permits, proofs and other information requested by lender.


 


2.
Borrower can perform all obligations and responsibilities under this contract, and will assume the repayment responsibility disregarding
any instruments, changes in financial position, agreements signed with other organization that may alleviate or remove the obligation
of repayment.


 


3.
The borrower has the full power, authorization and legal right to execute this agreement, and has obtained or completed: any and
all the internal corporate approvals, authorizations and any other relevant procedures, and any and all the approvals, registrations,
authorizations, consents, permits and any other relevant procedures from or with any required governmental or other regulatory
authorities necessary for its execution and performance of this agreement, and all such approvals, registrations, consents, permits,
authorizations and any other relevant procedures are in full legal force and effect.


 


4.
The execution of this agreement by the borrower fully complies with the relevant articles of association, internal decisions, or
shareholder or board resolutions of the borrower. The borrower commits the relevant articles of association, internal decisions,
or shareholder or board resolutions of the borrower is not invalid, false and revocable. This agreement does not conflict with
or violate any of the articles of association, internal decisions, shareholder or board resolutions or policies of the borrower.


 


5.
The execution and performance of this agreement are based on the expression of the real intentions of the borrower. The execution
and the performance of this agreement do not violate any provisions of any law, regulation, rule or agreement by which the borrower
is bound. This agreement is legal, valid and enforceable. The borrower shall, promptly and on an unconditional basis, indemnify
the lender against the entire losses arising from the invalidity of this agreement due to any flaw in the execution of rights of
the borrower to the execution and performance of this agreement.


 






    17


     


    

 


6.
All documents, financial statements and other materials provided by the borrower to the lender hereunder are true, complete, accurate
and effective, and the borrower will maintain all the financial indicators required by the Lender.


 


7.
The borrower agrees that the borrowing contemplated hereunder shall be bound by the rules and customary practice of the Lender,
which shall be subject to the interpretation of the lender.


 


8.
In the event that the borrower fails to perform any of the obligations hereunder, it hereby authorizes the lender to deduct directly
the corresponding amount of principal and interests (including principal, interest, penalty interest and compound interest), default
penalty, damaged compensation and other expenses required to realize the creditor’s rights from any account of the borrower
maintained with the lender or its branches and institutions without legal procedure. The lender has the rights to decide the sequence
of collection. If the currency of funds in the account is not the same as the currency of loan, the lender shall have the right
to use the reference rate issued by the lender at the day of collection to convert the amount. If any other bank accounts agreed
involving financial product or structured deposits and other products, the borrower shall be hereby irrevocably authorize the lender
to request for redemption of related products directly on behalf of the borrower or take other necessary measures, to ensure that
the lender can collect the repayments, the borrower shall provide all necessary cooperation..


 


9.
No matter at what stage of the transaction after the execution of this agreement, where the borrower submits to the lender for
review and approval of any document relating to any specific transaction, the borrower shall ensure the authenticity of all such
documents. The lender will make a decision on the apparent truth of any transaction documents, not participate in or know the substance
of any specific transaction conducted by the Borrower, and not assume any liabilities therefor.


 


10.
The borrower hereby acknowledges that other than those disclosed to the lender, the borrower conceals any of the following events,
whether pending or threatened, which may result in the lender refusing to disbursement hereunder:


 


(1)
Any obligations or contingent liabilities to which the borrower is subject, including but not limited to, any mortgage, pledge,
lien or any other encumbrance created on any assets or income of the borrower that has not been disclosed to the lender;


 


(2)
Any material non-compliance of discipline, violation of law, or claim for compensation of borrower or any of its senior officers;


 


(3)
Any default by the borrower under any agreement between the borrower and any of its other creditors relating to obligations or
creditor rights;


 


(4)
There has not occurred and does not exist any litigation, arbitration or administrative proceedings pending, or to the knowledge
of the borrower threatened, against the borrower or any of its assets, and the borrower is not subject to any liquidation or winding-up
or any other similar proceedings by or against the borrower; or


 






    18


     


    

 


(5)
Any other events which may have an adverse effect on the borrower’s financial position or ability to repay debts.


 


11.
The borrower hereby undertakes that it will apply the loan towards the purposes specified herein, not misappropriate nor will it
allow any amount of the loan to be applied towards any purpose in violation of the intent of this agreement. The borrower shall
subject itself to and cooperate with the lender in the supervision, inspection and check by the lender on the utilization of the
loan, the operational and financial activities, inventory, assets and liabilities, bank deposits and cash on hand of the borrower,
or any other requirement deemed necessary or advisable by the lender.


 


12.
The borrower shall provide adequate and valid security, or any other security deemed appropriate or acceptable by the lender. If
the property mortgage is involved, the borrower should notify the demolition of property, and fulfil the obligation of notification;
if the compensation for demolishment is exchanging property right, the lender has the right to recover the loan in advance or replace
the mortgage with new mortgage contract when the mortgaged property is demolished; the borrower should provide surety after the
original mortgaged property losses and before the new mortgaged property is placed; if the compensation for demolishment is cash
compensation, the borrower is obligated to request the mortgagor to use the cash compensated as deposit or deposit receipt for
mortgage purpose under this contract.


 


13.
The borrower may not allow its registered capital to be reduced in any way. Without prior written consent of the lender, the borrower
may not transfer its obligations hereunder to any third party, whether in whole or in part. Prior to the full satisfaction of all
its obligations hereunder, the Borrower may not satisfy any of its obligations owed to any of its creditors prior to the same falling
due.


 


14.
Significant adverse events affect the solvency of the borrower should be known promptly by the lender. The borrower should get
the written consent of the consent of the lenders before the merger, division, equity transfer, investment, substantial increase
in the debt financing and other important matters.


 


15.
In the event that the lender is involved in any dispute between the borrower and any third party as a result of any litigation
or arbitration or any other dispute between the Lender and the borrower or any third party related to the borrower due to the lender’s
performance of its obligations hereunder, the borrower shall indemnify the lender against any and all the litigation or arbitration
costs and expenses, attorney fees, and any other costs and expenses paid by the Lender in connection therewith.


 


16.
The borrower shall conduct all the settlement business arising under this agreement through a settlement account opened by it with
the lender. The borrower should accept lender to closely monitor the operational income and expenditure.


 






    19


     


    

 


17.
The borrower undertakes that the information published in the National Enterprise Credit Information Publicity System (“Publicity
System” hereafter) is true, complete and legally valid. The borrower promises to continuously accept the lender to inquire
the information that the borrower chooses to publish or not publish in the Publicity System. If the lender requires capital verification,
the borrower agrees to carry out capital verification as required by the lender and provide capital verification report issued
by a professional institution.


 


18.
The borrower hereby declare and authorize: the lender shall have the right to conduct necessary investigation for the borrower's
credit status according to the law and regulations such as the Regulation on the Administration of the Credit Reporting Industry;
report the credit information based on the information of this contract and other related information to meet the needs of collecting
credit information of enterprises and individuals that undertaken by authorities, bank regulators, People’s Bank of China;
report credit information to the basic financial credit information databases or other credit information system recognized or
established by the above mentioned departments and institutions and; hereby authorize such information to be inquired in legal
manner.


 


19.
The borrower hereby declares and authorizes that the lender shall have the right to submit information about this contract and
other relevant information to the above-mentioned departments, institutions and their established or approved information management
systems in accordance with the needs of administrative / judicial / supervisory departments, banking regulatory agencies, banking
associations, etc., and hereby allow the relevant information to be legally inquired.


 


20.
When the borrower breach the contract, or probably damage the right of the lender on the realization of claim, the lender has the
right to request the borrower’s shareholder to accelerate the payment of subscribed capital and the borrower should commits
to lender that its shareholder will repay the subscribed capital on time. The lender has the right to request that the borrower
and its shareholders do not pay dividends.


 


21.
The borrower commits that the transaction under this contract is true, legal, and not for the illegal purpose such as money laundry.


 


22.
The borrower irrevocably undertakes that when the borrower violates any of the obligations under this contract, the lender may
report and disclose the information of the borrower's breach of trust to the people's Bank of China and its established or approved
credit institutions and credit information system, or banking associations, banking supervision institutions or other administrative
/ judicial / supervisory departments and their established or approved information management systems or news media, etc.


 


At the same time,
the borrower irrevocably authorizes the relevant banking association to share the untrustworthy information of the borrower in
the banking financial institutions and even publicize it to the public in an appropriate way.


 






    20


     


    

 


The
borrower knows that the lender has the right to take various measures in accordance with this contract, it also knows that the
lender has the right to take or the lender and other banking financial institutions have the right to jointly reduce or stop credit,
stop opening new settlement accounts, stop the legal representative of the borrower / borrower's new credit card and other joint
breach of trust punishment and protection measures.


 


23.
Other matters of the borrower's statement and commitment:             /                 


 


Article 12 Early
collection of loans.


 


I. During the period
of borrowing, when one of the following occurs to the borrower or guarantor (including the guarantor or mortgagor or pledgor, the
same below), the lender shall have the right to unilaterally decide to stop paying the loan which has not been used by the borrower,
and to collect part or all of the principal and interest of the loan ahead of schedule, and if the lender collects the particular
part of loan in advance in accordance with this contract, the other outstanding loans shall be deemed to be due in advance :


 


(1) Providing false
materials or conceal important operating financial facts, any of the loan documents and any of the statements and commitments in
Article 11 of this contract shall be proved to be dissimilar or deliberately misleading to Party A.


 


(2) Changing the
original use of the loan without the consent of the lender, misappropriating the loan or using the loan to engage in illegal or
illegal transactions;


 


(3) Taking advantage
of fake contracts with related parties to discount or pledge to the lender with claims such as bills and accounts receivable with
no actual trade background, so as to obtain funds or credit from the lender.


 


(4) Refusing to
accept the lender's supervision and inspection of the use of its credit funds and relevant operating and financial activities.


 


(5) Where there
are major matters such as merger, division, acquisition, reorganization, equity transfer, foreign investment, substantial increase
in financing, etc., which the lender considers to be likely to affect the safety of the loan,


 


(6) Intentionally
evading or abolishing the creditor's rights of the lender through related party transactions;


 


(7) The credit has
deteriorated and the ability to repay (including contingent liabilities) has obviously weakened;


 


(8) Where the borrower
or the affiliated enterprise of the borrower and the affiliated enterprise of the guarantor or guarantor have the situation of
cross-breach of contract as stipulated in Article 15 of this contract


 


(9)
The borrower fails to repay the principal and interest of the loan under this contract on time.


 






    21


     


    

 


(10)
The borrower ceases to repay his debt, or is unable or indicates that he is unable to repay the debt due.


 


(11)
The borrower goes out of business, is declared bankrupt, is dissolved, his business license is revoked, his business license is
revoked, his financial situation deteriorates, etc.;


 


(12) The borrower
fails to perform the obligations stipulated in articles 10 and 13 of this contract and other obligations stipulated in this contract,
or the guarantor fails to perform the obligations stipulated in the guarantee contract.


 


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


 


(14) Abnormal changes,
missing or being investigated or restricted by judicial organs in accordance with the law, of legal representatives, major investors,
directors, supervisors and senior managers of borrowers or guarantors, or others that may affect the performance of obligations
under this contract.


 


(15) The borrower
/ guarantor or the borrower / guarantor's controlling shareholder, the actual controller or his associated person is involved in
a major lawsuit, arbitration or other dispute, or its material assets are sealed up, frozen, withheld, enforced or taken other
measures with similar effect, which may endanger or damage the rights and interests of the lender;


 


(16) Events otherwise
agreed upon in this contract, or based on the drawdown of the borrower's funds, or other events that endanger, damage or may endanger
or harm the rights and interests of the lender.


 


II. In the case
of the above-mentioned early collection of loans, the lender may unilaterally decide whether to grant the borrower a certain grace
period according to the production and operation of the borrower, the financial situation and the withdrawal of funds. If the lender
gives the borrower a grace period, if the borrower still fails to take remedial measures during the grace period or the remedial
measures taken do not meet the requirements of the lender, the lender shall have the right to unilaterally decide to collect the
loan in advance; the lender may also decide not to give the borrower a grace period, directly decide to collect the loan in advance.


 


III.
When the loan is collected in advance, the lender shall take corresponding measures in accordance with the provisions of paragraph
2 of Article 14 of this contract.


 


Article
13 Obligations of disclosing significant transactions and events


 


1.
The borrower shall promptly report in writing to the lender the significant transactions and events.


 






    22


     


    

 


2.
If the borrower belongs to group clients, the borrower shall promptly report to the lender of related transactions more than 10%
of net assets in accordance with the relevant provisions, including but not limited to:


 


(1)
The relationship between parties of transaction;


 


(2)
Trading program and nature of the transaction;


 


(3)
The sum of the transaction or the corresponding proportion;


 


(4)
The pricing policy (including the transaction with no amount or only nominal amounts).


 


Article
14 The liability for breach of contract


 


1.
Since this contract comes into force, the lender and the borrower should perform the obligations as agreed in the contract, any
one party fails to perform or not completely fulfil the obligation of this contract, should bear the corresponding liability for
breach the contract.


 


2.
The borrower use the loan for false purpose, does not pay the loan in accordance with the contract, not comply with the representation
and commitment, the distortion of credit information, break through the conventions of financial indicators, a major cross default
event, one of above occurred, the lender shall have the right to take one or more of the following measures:


 


(1)
Correct default within limit time;


 


(2)
Stop disbursing the loan under this contract, and stop the payment unpaid under this contract;


 


(3)
Request the borrower to meet the supplementary requirement for disbursement and remittance added by the lender, or cancel the borrower’s
discretionary payment method to use the loans;


 


(4)
Unilaterally decide to all or part of the debt maturity in advance;


 


(5)
To terminate this contract unilaterally, request the borrower to repay loan principal and interest due or not due, and pay or compensate
for losses;


 


(6)
If overdue, to request the borrower to pay overdue penalty interest; if the borrower misappropriates loan, request the borrower
to pay misappropriation penalty interest; request the borrower to pay compound interest of unpaid interest (including due and overdue
interest, penalty interest of misappropriation and default penalty interest);


 


(7)
Request the borrower to replace or provide additional guarantor, mortgage, pledged collateral and pledge rights;


 


(8)
Exercise any rights under any security;


 


(9)
To recover the funds from any accounts of the borrower in Industrial Bank without the judicial procedure, or entrust the bank of
the borrower's account to recover the funds, including but not limited to loan principal and interest (including penalty interest
and compound interest) and related fees under this contract. If the currency of funds in the account is not the same as the currency
of loan, the lender shall have the right to use the reference rate issued by the lender at the day of collection to convert the
amount. If any other bank accounts agreed involving financial product or structured deposits and other products, the borrower shall
be hereby irrevocably authorize the lender to request for redemption of related products directly on behalf of the borrower or
take other necessary measures, to ensure that the lender can collect the repayments, the borrower shall provide all necessary cooperation;


 






    23


     


    

 


(10)
The lawsuit or arbitration for requesting the borrower to repay loan principal and interest, the borrower bear the expenses of
lenders;


 


(11)
The lender shall have the right to make measures to any movable or immovable property, tangible property or intangible property
of the borrower controlled by the lender, like as to seize or lien;


 


(12)
the lender shall have the right to report and disclose the information of the borrower's breach of contract to the people's Bank
of China and the credit information machine and credit information system established or approved by the people's Bank of China,
or banking associations, banking supervision institutions or other administrative / judicial / supervisory departments and their
established or approved information management systems or news media, At the same time, it can take or jointly with other banking
financial institutions to reduce or stop credit granting, stop opening new settlement accounts, stop operating new credit cards
of the borrower's legal representative / borrower, and other joint measures to punish and protect the rights of the borrower's
legal representative / borrower.


 


(13)
Other measures by laws and regulations or agreed in the contract.


 


3.
In accordance with the drawdown prerequisites and conditions under the contract, if the lender fails to provide the loan at the
date agreed in the contract, the lender shall compensate the borrower thus caused direct economic losses. But no matter how, any
foreseeable or unforeseen indirect losses will not be borne for the lender.


 


4.
In the process of the performance of this contract, the lender will not bear for the losses of the borrower, which is caused by
providing untrue, inaccurate, incomplete material or there are other defects lead to the mistakes made in entrusted payment, late
remittance, wrongful discretionary payment which breach the contract and other loses caused by the borrower. .


 


5.
The lender will not bear for the losses of the borrower, which is caused by the frozen of the disbursement account or the payee
account or other dispute of disbursement and remittance.


 


6.
One of the following events happened for the guarantor under this contract (the guarantor, the mortgagor, the pledgor), the lender
shall have the right to take measures according to the second paragraph of this article:


 


(1)
The guarantor fails to fulfil its guarantee contract, or deterioration of credit, or other events of guarantee ability weakened;


 


(2)
The mortgagor fails to perform the stipulations of the mortgage contract, or deliberately damage collateral, or value of the mortgaged
property may be or has been significantly reduced, or other events of damaging mortgage rights;


 


(3)
The pledgor does not fulfil the pledge contract, or the pledged property value has been or may be significantly reduced, or the
right of the pledge must be cashed before the payment of the loan, or other events of damaging pledge rights.


 






    24


     


    

 


Article
15 The cross-defaulting


 


If
one of the following events occurs to the borrower or affiliated parties of the borrower, and the surety or the affiliated parties
of the surety, it will be considered as the borrower default as well, the lender have the right to recover loan in advance according
to Article 12 of this contract, and request the borrower to be liable for breach of contract according to Article 14 of this contract:


 


(1)
Any loan, financing or debt default or might default or be announced to be recovered in advance;


 


(2)
Any guarantee or similar obligation fail or might fail to be performed;


 


(3)
The non-performance or violation of the relevant debt guarantee and other similar obligations of legal document or contract or
any possibility of non-performance or violation;


 


(4)
Failure to repay debts or borrowing/financing in maturity;


 


(5)
Be or will be declared bankruptcy by the legal procedure;


 


(6)
Transfer the assets or property to other creditors;


 


(7)
other situations endanger the safety of the principal and interest under this contract.


 


Article
16 The continuity of obligation


 


All
obligations of the borrower under this contract have the same effect on its heir apparent, agent, receiver, the assignee, even
after merger, reorganization, change of the name.


 


Article
17 Accelerated maturity terms of principal and interest


 


The
borrower and the guarantor agree that once the borrower fails to perform the representation and commitments of the Article 11,
or the borrower fails to perform any obligation under this contract, the lender has the right to decide repayment obligations include
all due and undue principal, interest (including penalty interest and compound interest) and relevant expense become due immediately.


 


Article
18 Prioritized subrogation


 


The
borrower states hereby: once the borrower default or borrower fails to pay the outstanding debts (including the principal, interest
and expenses), and the borrower itself have insufficient property to repay debt, any creditor's right of a third party, accounts
receivable and other property rights to the borrower, the lender has the right to exercise the right of subrogation.


 


Article
19 Applicable law, jurisdiction and dispute resolution


 


1.
Signing, effectiveness, performance, termination, interpretation and dispute settlement of this contract is applicable for the
laws of People’s Republic of China (for the purpose of this contract, Laws of the Hong Kong special administrative region,
the Macao special administrative region and Taiwan region is not included)


 






    25


     


    

 


2.
For any dispute of this contract, the borrower and the lender should resolve through friendly negotiations; If negotiation fails,
both parties agree to solve by the following section (2) way:


 


(1)
Bring a lawsuit in the people's court of the place where the lender has his domicile.


 


(2)
Applying for arbitration to Shenzhen Arbitration Commission, resolving the dispute by applicable rules of the Arbitration Commission,
the arbitration award is final and binding on both parties. The site selection is in Shenzhen.


 


(3)
Others:              /                .


 


3.
In the dispute period, the provisions which are not involved in the dispute still should be carried out according to this contract.


 


Article
20 Files, communications and notifications


 


I.
the borrower agrees and confirms the following address as the delivery address of making notice; of documents in relation with
the litigation (arbitration), other legal documents in case of disputes (including but not limited to various notices and documents
of the contracting parties (or arbitration application); evidence, summons, notice of response, notice of proof, notice of hearing,
the order of payment, the judgment (award), written verdict, conciliation statements, enforcement notice, notice of timely execution,
other legal documents of litigation or arbitration book litigation and documents to exercise or execute the rights of collaterals;
notarization authorities.)


 


(1)
Borrower’s address


 


1.
Borrower’s address: Shenzhen Yangang Mingzhu Freight Industry Co. Ltd.


 


Lender’s
address: Floor 6 Building 1, no. 1111 Shenyan Road, Shenzhen Yantian District 


 


Post
Code: 518000; Telephone No.: ************


 


Contact
person: Jinlong Yang


 


2.
Addressee (if applicable):                     /                    ;


 


Address
of addressee:                    /                    ;


 


Post
Code:                    /             ;                                       Telephone No.:                    /                    .


 


(2)
The borrower agrees and confirms the electronic address below as valid delivery address:


 


1.
Tax no.:            /          


 


2.
Email address:          /         


 


3.
Text message: ***********


 


4.
Wechat:          /         


 


5.
QQ:           /             


 


II.
The application period of the address of service as stipulated in the first paragraph of this article including all stages of non-lawsuit
stage, and stage after the dispute has brought into lawsuit and arbitration involving first instance, second instance, retrial,
execution, realization of real right for collateral, supervision and enforcement of notarization. If the above address is changed,
the borrower shall notify the lender in writing in advance (during the litigation or arbitration period, the borrower shall also
notify the arbitration tribunal or the court in writing in advance, and the original notary office shall be notified in writing
if the notary has been executed for compulsory notarization) to reconfirm the address of service and obtain the acknowledgement.
If the notice is not given in advance, it shall be deemed not to have been changed, and the relevant legal consequences shall be
borne by the borrower.


 






    26


     


    

 


III. Any documents,
communications and notifications are sent according to above address, shall be deemed to arrive on the following dates:


 


 (1)
by post (including speed post, ordinary letter, registered mail), it will be deemed to arrive on the sending day after five working
day;


 


 (2) by facsimile
or other electronic communication, it will be deemed to arrive on sending day;


 


 (3) by personal
service, the date of signing is deemed to be arriving date.


 


IV. If the service
address provided or confirmed by the borrower is inaccurate or untrue, or the service address is not timely notified to the other
party, the arbitration institution, the people's court or the notary office after the change of service address and cause to the
failure of delivery, the borrower shall bear the corresponding legal consequences and shall be deemed to have been served effectively:


 


(1) in case of
delivery by mail, the date of return of the document shall be regarded as the date of service;


 


(2) if delivery
is made by hand, the date on which the date of service is marked on the receipt shall be the date of service;


 


(3) in case of
electronic delivery, the date of service shall be the date of sending out.


 


V.
The address of service of the lender shall be the place of domicile specified in the contract. If the lender makes announcements
by publishing on its website, online bank, telephone bank or branches, the date on which the announcement is published shall be
deemed to be the date of delivery. Under no circumstances shall the lender be liable for any transmission error, omission or delay
in the delivery of mail, fax, telephone or any other communication system.


 


VI.
The parties agree that the company seal, office seal, special seal for finance, special seal for contract, special seal for sending
and receiving and special seal for credit business of the lender shall be valid seals for notice or contact, service of legal documents
and correspondence of the parties. All staff members of the borrower's unit are the authorized recipients of documents, communications
and notices.


 


VII.
This article shall be deemed as an independent article in the contract and shall not be affected by the validity of this contract
and other articles hereof.


 


Article
21 Effectiveness of this contract and other matters


 


1.
The contract will take effect from the date of signature or stamp of both parties.


 


2.
During the effective period of this contract, the lender gives to the borrower and the guarantor any allowance, forgiveness, or
delay to use the rights and interests, shall not damage, impact or limit the lender to share the rights and interests in accordance
with relevant laws and regulations and this contract, or to be deemed giving up the rights and interests, also do not affect the
borrower to bear any obligation under this contract.


 






    27


     


    

 


3.
As a result of national laws and regulations or regulatory policy change, which leads to loan obligations of the lender under this
contract does not conform to the laws and regulations or regulatory requirements, the lender have the right to unilaterally terminate
the contract, announced that all of the loan is due in advance, the borrower should pay off the loan immediately.


 


4.
If the lender cannot issue the loan or pay on time because of force majeure, the failure of communication or network, the failure
of lender’s system, the lender does not assume any responsibility, but should promptly notice the borrower.


 


5.
The lender shall have the right to authorize or entrust other branch of industrial bank to perform rights and obligations under
this contract (including but not limited to authorized or entrusted bank branches of other related contracts, etc.) according to
the borrower’s operation and management, or the loan under this contract as other branch’s to undertake, which is approval
by the borrower, and without prior consent of the borrower.


 


6.
The borrower agrees that the lender has the right to unilaterally reduce or cancel the unused loan under the contract according
to production and operation situation, situation of payment and credit of other financial institutions. The lender should notice
the borrower five working days before reducing or cancelling the loans, without prior consent of the borrower.


 


7.
At any time, any provision of this contract in any way is or becomes illegal, invalid or unenforceable, the legality, validity
or enforceability of other provisions under the contract is not affected.


 


8.
The heading of this contract is just for the convenience of reading, which shall not be used for interpretation or any other purposes.


 


9.
The attachment is an integral part of this contract, and the attachment of this contract is equally valid.


 


10.
This contract is triplet, the lender holds two copies, the borrower holds one copy, with equal legal effect.


 


Article
22 The notarization and voluntarily to accept compulsory execution


 


1.
The contract should be notarized by the state notary office for if any party request notarization.


 


2.
The contract for compulsory notarization has the effect of enforcement, and when the borrower fails to perform or improperly perform
the debt, or when the lender realizes the creditor's rights as stipulated in laws and regulations or as stipulated in this contract,
the borrower agrees that the lender should apply to the notary for an enforcement certificate with enforcement effect, and the
borrower voluntarily accepts the enforcement measures applied by the lender directly to the people's court with jurisdiction on
the strength of the certificate. Aware of the corresponding legal consequences, the borrower undertakes not to raise any objection
or defense.


 


3.
Both parties agree: prior to the issuance of certificate of notarization institutions, both parties have the right to use one or
multiple measures of communication to confirm with the borrower regarding the non-performance or improper performance of indebtedness
and other breach according to this article of “Files, communications and notifications”, involving post, telephone,
fax, E-mail, SMS, WeChat, QQ, delivery in person, face to face talk; if post, tax, E-mail, SMS, WeChat, QQ, delivery in person
and other measures are used, the service date should be in accordance with the article of “Files, communications and notifications”.


 


4.
If the borrower has any objection to the above breach, it should proof and provide sufficient evidence to the notarization institutions
within 5 working days of service. If the evidence is insufficient or late to proof the objection of the borrower, the breach will
be deemed to be a fact and certificate of execution will be issued upon the lender’s request.


 


Article
23 The supplementary terms and conditions:                    /                   


 




    28


     


    

 


 


Lender
(seal of company):


 


Industrial
Bank Co., Ltd. Shenzhen Branch [Corporate Seal Affixed Here]


 


Person
in charge or authorized representative (signature or seal):


 


/s/
Yanquan Wang


 


April
21, 2020


 


Borrower
(seal of company):


 


Shenzhen
Yangang Mingzhu Freight Industry Co., Ltd [Corporate Seal Affixed Here]


 


Person
in charge or authorized representative (signature or seal):


 


/s/
Jinlong Yang


 


April
14, 2020


 


29