Exhibit 10.19


 


Comprehensive Credit Extension Agreement


 


ZHUJIANG RURAL BANK


 





Important Note


 


In order to protect
your interests, please read the following notes carefully before signing this contract:


 


I. You have acquired
the necessary legal knowledge related to comprehensive credit extension.


 


II. You have read
and understood all the terms of this contract and have given full attention to the contents of your rights and obligations.


 


III. You have ensured
that the relevant certificates and materials submitted are authentic, lawful and valid.


 


IV. You have confirmed
that you have the right to sign this contract.


 


V. All terms hereof
are true expressions of the will of both parties.


 


VI. Please use a fountain
pen or felt-tip pen to fill in the information you need to fill in.


 



     


    	 



    




 


Comprehensive Credit Agreement


 


No.: 0200001202000247


 


 


Party A (credit receiver):
Shenzhen Yangang Mingzhu Freight Industry Co., Ltd.





Address: Zone A, 27th
Floor, Yantian Industry Service Center, No. 3018, Shayan Road, Shajiao Street, Yantian District, Shenzhen





Zip code: 518000





Legal representative/person
in charge: Jinlong Yang





Contacts:








	 	Telephone No.:	Fax No.:







 


Party B (credit issuer):
Shenzhen Pingshan Zhujiang Rural Bank Co., Ltd.





Address: 32nd Floor,
33rd Floor And 165-166 Shops, Block H, Phase 1, Liuhe Commercial Plaza, Pingshan Street, Pingshan District, Shenzhen.





Zip: 518000





Legal representative/person
in charge: Bin Wu





Contact: Kaiwen Zhu





Telephone No.: ***********





Fax No. :


 


In accordance with
the contract law of the People’s Republic of China and other relevant laws and regulations, and on the basis of the principles
of voluntariness, equality, mutual benefit and good faith, Party A and Party B have reached an agreement to conclude this contract
through negotiation.


 


Article 1 Comprehensive
credit line and application scope


 


1.1 Within the validity
period agreed herein, Party B shall provide Party A with the maximum comprehensive credit line in the currency RMB and the
amount (in words): three million yuan only . In the specific business, Party A may use other currencies than the currency
stated above. If other currencies are used, the foreign exchange selling price published by Party B on the date of specific business
occurrence shall be used to convert into currency herein determined.


 


1.2 The comprehensive
credit line under this contract may be used for the purpose including but not limited to: loan, bill acceptance, letter of credit
issuance, guarantee for delivery of goods, packing loan, import and export bill of exchange, import agent payment, letter of guarantee,
etc. The specific business mode of credit extension shall be subject to the specific business contract signed by both parties.


 


1.3 If the comprehensive
credit line under this contract is used for bill acceptance, letter of credit issuance and other businesses, if the deposit amount
is supplemented by the credit receiver before the business expires, it shall be regarded as a new issuance of the same credit line,
and the credit receiver may continue to the use released credit line. In such case, if the total amount of comprehensive credit
line provided by Party B to Party A within the effective period hereof exceeds the maximum amount agreed in paragraph 1.1, this
article shall prevail.


 









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Article 2 Comprehensive
credit extension period


 


2.1 The effective
term of the comprehensive credit line stipulated in Article 1 of this contract is: from April 30, 2020 to April 29, 2021.


 


2.2 Party B shall
have the right to review the use of the comprehensive credit line hereunder at any time, and shall have the right to adjust the
above credit period. The starting date and expiration date of each business transaction under the credit extension term shall be
subject to the corresponding documents such as individual contract and receipt of loan.


 


2.3, Party A shall
apply for the use of credit within comprehensive credit period, the date of each specific business contract shall not exceed the
deadline of term of comprehensive credit extension (i.e. the loan disbursement date or the date Party A accept the draft/ issue
a letter of credit/ issue a letter of guarantee/ issue a guarantee of delivery are not later than the deadline of this credit extension).
If Party B adjusts the term of comprehensive credit extension, the above-mentioned deadline shall be adjusted accordingly. The
term of use of each line of funds shall not be restricted by whether the term of comprehensive credit extension expires and shall
be accordance with the specific business contract.


 


Article 3 Use of comprehensive
credit line


 


3.1 Within the credit
extension period and comprehensive credit line agreed herein, Party A may use the credit line in one or several times. Party A
shall submit a written application to Party B three (3) working days in advance. After the examination and approval of Party
B, both parties shall sign a separate specific contract or agreement or submit an application, undertaking or declaration approved
by Party B.


 


3.2 The balance of
the credit line used by Party A (that is, the total amount of principal not yet paid off at any point of time) shall not exceed
the comprehensive credit line at any time during the period of comprehensive credit extension. Within the period of comprehensive
credit extension, Party A may apply for the use of settled credit line again, and the unused amount within the period of comprehensive
credit extension will be automatically cancelled after the expiration of the period.


 


3.3 Fees payable by
Party B for bills, letter of guarantees, international trade financing and other services under this contract; the interest rate
and exchanged that required to be determined under the loan and import and export trade, shall all be specifically defined in individual
business contract.


 


3.4 This contract
shall not obligate Party B to issue credit line to Party A, and Party B shall have the right to adjust the amount of comprehensive
credit line hereunder. Party B shall only perform the loan obligation in accordance with the specific business contract when it
is signed by Party A and Party B hereunder. If the specific business contract signed by Party A and Party B under this contract
is inconsistent with this contract, the specific business contract shall prevail.


 


Article 4 Transfer
of credit extension


 


4.1 With the written
consent of Party B, Party A may transfer the credit line of this contract to a third party, and the specific object and amount
of credit transfer are:


 


4.1.1       /      (transferee),
amount:(equivalent)       /      (currency)       /      (in words);


 


4.1.2       /      (transferee), amount:(equivalent) ___/___ (currency)       /      (in words);


 


4.1.3       /      (transferee),
amount:(equivalent)       /      (currency)       /      (in words);


 


4.1.4.                                              /                                            


 


4.2 Party A shall
be jointly liable for the principal, interest, penalty, compound interest and expense of realizing all debts (including contingent
debts) incurred under the above credit extension, and the guarantee period shall from the effective date of the specific credit
extension contract under the transfer of credit extension to two years after its expiration date.


 



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Article 5 Rights and
obligations of Party A


 


5.1 Party A has the
right to apply to Party B for using the credit line within the term of comprehensive credit extension agreed herein.


 


5.2 Party A warrants
that it is a legal entity registered and validly existing in accordance with the law, has the right to dispose of the property
under its management, has the right to operate the business related to the use of loan under this contract and its specific business
contracts, and has the right to sign and perform this contract and its specific business contracts; ensure that the performance
of this contract and its specific business contracts have been approved by the superior competent department or the board of directors,
board of shareholders and other competent institutions, and all necessary authorization has been obtained.


 


5.3 Party A warrants
that the execution and performance of this contract and its specific business contracts will not be in violation of any provisions
or agreements binding on Party A and its assets, including but not limited to the violation of any security agreement signed by
Party A and others or any security commitment issued by Party A to others.


 


5.4 During the performance
of this contract and its specific business contract, Party A shall, as required by Party B, cooperate with the inspection and provide
the following information timely including but not limited to:


 


5.4.1 Business license
and the prove of annual inspection, certificate of organization code, prove of identification of legal representative and the necessary
personal information, members of the board of directors and major person in charge, financial director, permit of operation, qualified
tax registration certificate after the annual inspection performed by tax department, copies of certificate of tax payment issued
by tax authority as requested by Party B and the loan note;


 


5.4.2 All banks, account
number and status of credit extension;


 


5.4.3 The audited
balance sheet, income statement, statement changes in equity, sales volume, cash flow statement, foot notes and explanations as
required by Party B;


 


5.4.4 Operation plans,
statistic statements, project budgets and final accounts;


 


5.4.5 All external
(including any institution of Party B) guarantees;


 


5.4.6 Information
of all affiliated enterprises and related relationships, and related transactions that have occurred or will occur, accounting
for more than 10% (including) of Party A’s net assets, and mutual guarantee among group;


 






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5.4.7 Cases of litigation,
arbitration, administrative punishment, debt disputes with others, and cases of senior management personnel being investigated
for criminal prosecution.


 


5.5 Party A shall
give a written notice to Party B within 30 days prior to the occurrence of the following events, and shall fulfill the obligation
of paying off the debts hereunder as agreed by Party B in writing, or provide a new guarantee as agreed by Party B in writing,
it shall not engage the following activities before paying off all the debts hereunder. These matters including but not limited
to contracting, leasing, trust, asset restructuring, debt restructuring, equity restructuring, joint operation, merger and acquisition,
reducing its registered capital, applying for dissolution (or cancel), applying for reorganization, bankruptcy application, issuing
bonds, borrowing funds from a third party and other financing behavior that substantial increase the debt.


 


5.6 Party A shall
notify Party B in writing within three days after it is declared to suspend business for rectification, be declared to wind up,
be declared to dissolve (cancel), be applied for reorganization, go bankrupt and other changes in its own structure and legal status
or any other circumstances that may endanger its normal operation or the security of Party B’s rights of debts, and take full and
effective measures to preserve Party B’s rights of debts.


 


5.7 Party A shall
not enter into any contract with any third party that is harmful to Party B’s rights and interests under this contract and specific
business contracts.


 


5.8 If Party A changes
its legal representative, address, name or other senior management personnel, it shall notify Party B in writing within seven days
after the change.


 


5.9 Party A shall
repay the capital principal and interest of the specific business incurred hereunder on time and pay the expenses payable on time.


 


5.10 If Party A use
of the credit line for financing international trade (including packaged loans, financing for import and export trade, issuance
of letter of credit, letter of guarantee, discount of bills, acceptance of bills, etc.), Party a warrants that it shall conduct
business in strict accordance with the Uniform Customs and Practice for Documentary Credits (latest version), the Uniform Rules
for Collection (URC522) and other relevant international practices, and shall not damage the reputation and interests of party
b due to any commercial disputes.


 


5.11 When Party A
is part of group, it shall provide to Party B with the relevant group company related information, including but not limited to
name, legal representative, actual controllers, registered address, registered capital, the main business, equity structure, senior
management, financial condition, material assets condition, guarantee and important lawsuit, etc. of other members of group. And
shall timely report to Party B in writing of its net assets of more than ten percent (including) related party transactions, including
but not limited to the relationship, nature of transaction, amount of transaction or relevant proportion and pricing policy.


 


5.12 Party A warrants
that all documents and materials provided to Party B are true, accurate, legal and valid.


 


5.13 Party A undertakes
that the energy conservation and emission reduction of the project supported by the loan funds hereunder shall comply with national
laws and regulations and regulations of regulatory authorities. If Party A fails to fulfill its commitment or the risk of energy
consumption or pollution, Party B may take the following measures: terminate the contract; accelerate the recovery of loans under
this contract; announce the early maturity of the loan under this contract. When Party B takes the above-mentioned measures, Party
A agrees that Party B shall exercise the relevant guarantee rights in advance.


 


5.14 If Party A uses
the houses as collateral, it shall promptly inform Party B when it knows the information that the mortgaged house will be removed.
If Party A fails to inform Party B in time and the collateral is lost, Party B shall have the right to stop making new loans or
request for prepayment of existing loans.


 


Article 6 Rights and
obligations of Party B


 


6.1 Party B has the
right to request Party A to provide documents related to credit extension.


 


6.2 Party B shall
have the right to instruct its branches to extend credit to Party A as agreed herein.


 


6.3 If Party A uses
the credit line and signs a specific business contract, Party B shall have the right to check the specific business conditions
at any time and urge Party A to use the credit funds according to the purposes agreed in the contract.


 


6.4 Party B shall
have the right to ask Party A to repay the principal and interest of the credit extension on schedule.


 


6.5 Party B shall
promptly accept Party A’s application for using the credit line.


 


6.6 Party B shall
keep confidential of information and information related to its debts, finance, production and operation provided by Party A, unless
otherwise provided by laws and regulations.


 


6.7 During the validity
period of this contract, Party B shall promptly announce the change of address when it changes its domicile


 






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Article 7 Special
provisions on credit extension and affiliated transactions of group clients


 


7.1 Group customers
refer to enterprises and institutions with the following characteristics:


 


7.1.1 Directly or
indirectly controlling or being controlled by other enterprises or institutions in equity or business;


 


7.1.2 Jointly controlled
by third party enterprises and institutions;


 


7.1.3 Major investors,
key management personnel or close family members (including direct relatives within three generations and collateral relatives
within two generations) jointly control directly or indirectly;


 


7.1.4 If there is
any other relationship that may not transfer assets or profits in accordance with the fair price principle, it shall be regarded
as a group customer for credit extension.


 


7.2 To group clients,
Party A should report to Party B of related party transaction with more than 10% of net assets involved within 10 days from the
date of transaction. Report shall include the relationship of parties, transaction type and the nature of the transaction, amount
of transaction or relevant proportion and pricing policies (including transaction with no amount or transaction with only a symbolic
amount).


 


Article 8 Recover
the loan in advance


 


During the performance
of this contract, if Party A is in any of the following circumstances, Party B shall have the right to stop issuing the remaining
credit line and require Party A to pay off the used credit line in advance:


 


8.1 Party A provides
false materials or conceals important business financial facts;


 


8.2 Change the use
of financing funds without Party B’s consent or engage in illegal or illegal transactions with financing funds;


 


8.3 Any change of
the security hereunder to the detriment of Party B’s rights of debts, including but not limited to the damage, loss or value reduction
of the collateral or pledge, or any breach of any obligation set up for the surety in the security contract, and failures of provision
of new security as required by Party B;


 


8.4 During the validity
period of this contract, Party A expressly states or indicates by its own conduct that it is unable or fails to perform its obligations
in accordance with the provisions of this contract or specific business contracts;


 


8.5 Party A transfers
property, withdraws funds surreptitiously, evades debts or has other behaviors that damage the rights and interests of Party B;


 


8.6 Party A fails
to fulfill its commitment in Article 5 hereof or fails to fulfill its obligations hereunder or in specific business contracts;


 


8.7 Party A refuses
to accept Party B’s supervision and inspection of its use of credit funds and related business activities;


 


8.8 Party A uses the
false contract with the related parties; uses notes receivable, accounts receivables and other assets with no real trade background
to claim the discounting of bills or pledge, or to obtain financing from Party B,


 


8.9 Party A intends
to evade or cancel party b’s claims through affiliated transactions;


 






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8.10 Any changes of
operation mode, its own structure, legal status of Party A including but not limited to, contracting, leasing, trust, asset restructuring,
debt restructuring, shareholding reform, jointly operation, merger and acquisition, split, transfer of property, joint venture
(cooperative), reducing its registered capital or applying for suspending business for rectification, applying for reorganization,
applying dissolution and applying for bankruptcy, etc. Performing the obligation of settling debts of specific business contract
under this contract or providing the new guarantee approved by Party B without Party B’s written consent;


 


8.11 There is a serious
crisis in the overall credit, business and financial status of Party A’s group customers, which poses a major threat to the security
of Party B’s loans;


 


8.12 The deterioration
of Party A’s business and financial situation, inability to pay off maturing debts, or major economic litigation or arbitration
or other legal disputes, seriously affects and threatens the realization of Party B’s claims;


 


8.13 Party A suspend
its business, dissolve, wind up, has its business certificate revoked or cancelled;


 


8.14 Party A’s breach
of any other obligation under this contract, or the guarantor’s breach of any obligation under this contract, which Party B considers
to be sufficient to affect the realization of its creditor’s right.


 


Article 9 Validity,
alteration and termination of the contract


 


9.1 This contract
shall come into force upon being signed by both parties, Party B shall not be obliged to allow Party A to use any credit line until
Party A and the surety have entered into the security contract and completed the procedures stipulated in the security contract
as required by Party B and have taken effect/the mortgage has been established/the pledge has been established.


 


9.2 Neither party
shall alter this contract without authorization after it comes into force. If it is necessary to make any change, both parties
shall reach a written agreement on such change. This contract shall remain valid until the agreement is reached.


 


9.3 Upon the entry
into force of this contract, neither party shall terminate this contract in advance unless otherwise agreed herein. If it is necessary
to terminate this contract, both parties shall reach a written agreement.


 


Article 10 Liability
for breach of contract


 


After this contract
comes into force, both parties shall perform their obligations under this contract. Either party’s failure or incomplete performance
of this contract shall constitute a breach of contract and shall be liable for breach of contract in accordance with the provisions
of law and this contract. When Party A breaches the contract, Party B shall have the right to take the following measures:


 


10.1 Party A shall
immediately stop using the credit extended hereunder;


 


10.2 Stop the payment
of unused credit line under this contract and specific business contracts, and withdraw some or all of the issued credit lines
before the payment;


 


10.3 Deduct from Party
A’s account the principal, interest, compound interest, penalty interest and other ancillary expenses payable by Party A at maturity.
If the currency in Party A’s account is inconsistent with the currency of its debt, Party B shall have the right to convert it
into the currency of its debt at the exchange rate of the day so as to realize Party B’s creditor’s rights.


 


10.4 Party A shall
indemnify Party B for any other losses caused by Party A’s fault.


 



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Article 11 Dispute
resolution


 


All disputes between
Party A and Party B arising from this contract or specific business contract shall be settled through negotiation. If no agreement
can be reached through negotiation, either party may settle the disputes in the way as determined in A below:


 


A. Bring a lawsuit
to the competent people’s court in the place where Party B is located;


 


B. Submit__/__
to the arbitration commission for arbitration.


 





Article 12 Supplementary
provisions


 


12.1 During the term
hereof, if Party A fails to notify Party B in writing of any change in Party A’s name, legal representative and domicile, all documents
sent to Party A by Party B according to such information as name, legal representative and domicile before the change shall be
deemed to have been successfully delivered.


 


12.2 Party A shall
bear all expenses related to registration, insurance, notarization, appraisal, appraisal, transportation and storage of pledged
property hereunder. If it is paid by Party B, Party B shall have the right to deduct it directly from Party A’s account.


 


12.3 Each specific
contract and annex signed by Party A and Party B in accordance with this contract including the application of letter of credit,
amendment application of letter of credit, letter of commitment, application of guarantee for export, statements of declaration
are all part of this contract, and overall form into a contract. If the specific loan contract is inconsistent with the contents
of its debt acknowledge, the debt acknowledge shall prevail.


 


12.4 This contract
is made in duplicate, with one held by Party A and one held by Party B, share the same legal effect.


 


Article 13 Other provisions


 


 ______________/______________


 






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(Signature page, no
text)


 





Party A (seal)





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


 


Signature of Party
A’s legal representative (or authorized representative):





/s/Jinlong Yang


 





Date of signing: April
27, 2020


 





Party B (seal):





Shenzhen Pingshan
Zhujiang Rural Bank [Corporate Seal Affixed Here]


 


Signature of Party
B’s legal representative (or authorized representative):





/s/ Bin Wu


 





Date of signing: April
27, 2020


 








Place of signing:
Shenzhen


 


 


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