Exhibit 10.20


 


Factory
Lease Contract


Contract Number: [*]


Contract
signed in: Xinhui District, Jiangmen City


 


Party
A (lessor): Guangdong Huadian Technology Industry Co., Ltd.


Party
B (lessee): Jiangmen Treasure Success Business Consultancy Co., Ltd.


 


Both
Party A and Party B, in line with the principle of equality, integrity, mutual benefit for Party A to lease Party B certain factory area
(the “Lease”) and after discussion, agree to enter into this Contract.


 


		1.	BASIC
                                            CONDITIONS OF THE LEASE



 


		1.	Lease
                                            area address: Party A shall lease the factory area located in first floor workshop (west
                                            area), parts of second floor and third floor workshops, Block B, (Workshop #2), 3, Jin Hua
                                            Road, Huicheng, Xinhui District, Jiangmen City (The Property) (see Annex 1) to Party
                                            B for the operation and usage of Party B.



 


		2.	Lease
Term: The Lease Term is 5 years from January 1, 2021 to December 31, 2025.



 


		3.	Lease
                                            area:  Total area of the Lease is 4,100 m2. Among that, 2,300m2
                                            is on the first floor, 1,700m2 is on the second floor and 100m2 is on the
                                            third floor.



 


		4.	Lease
                                            payments: In the first year of the Lease, rental of the first floor is Rmb 13.13/square
                                            meter/month, rental of the second floor is Rmb 11.38/square meter/ month, rental of
                                            the third floor is Rmb 7.00/square meter/month. In the second year of the Lease, rental
                                            of the first floor is Rmb15.75/square meter/month, rental for the second floor is
                                            Rmb 13.65/square meter/month, rental of the third floor is Rmb 8.40/square meter/month.
                                            From the third year, the rentals shall increase by 5% annually. Property management
                                            fee is included in the rental above to cover public supporting expenses such as home or peripheral
                                            sanitation and greening.
	 	 	 



		5.	Payment
method: The rental is to be paid monthly, by Party B on or before the 12th day of each month by bank transfer to party A to settle rental
of the month. Party A shall issue VAT invoice to Party B with appropriate tax rates.



 


		6.	Rental
                                            deposit: Both Party A and Party B agree that after signing this Contract, Party B shall pay
                                            a rental deposit of Rmb180,000.00 and a one-time payment of Rmb 30,000 as utility
                                            deposit to Party A within 5 days. Party A shall issue separate receipts to Party B after
                                            receiving the above deposits.



  


		7.	Other
                                            costs: Party B is responsible for paying the utilities, equipment installation (excluding
                                            installation of the master water meter and master electricity meter, transformer equipment
                                            which are to be borne by Party A) or cost of repair, maintenance, replacement and other related
                                            costs due to Party B’s own business needs. The water charge is to be ascertained according
                                            to the water meter readings. Party B shall, on or before the 6th of every month,
                                            reply to confirm previous month’s meter reading. Failing to reply will be considered
                                            consent. Party B shall, on or before the 12th day of each month to settle other costs of
                                            the previous month to Party A.



 






     


     


    

 


The
water and electricity charges shall be ascertained in accordance with the unified charging standards of Huadian Science and Technology
Park (further notice will be served in the event of an adjustment in electricity charges). VAT invoices on utilities with the applicable
tax rate shall be issued to Party B. Electricity and water charges should be calculated as follows:


 


		(1)	Party
                                            B’s electricity = (according to the actual electricity usage in flat, low, peak hours
                                            X charging rates announced by the power supply bureau in flat, low, peak hours) plus a 3%
                                            of wastage of the total electricity consumption and a fee for increase of power supply for
                                            Party B (Rmb 23 X 400 units of electricity consumption = Rmb 9,200);



 


If
Party B has production expansion later, and requires an increase in electricity supply, Party B can apply to Party A in advance in writing.
The two Parties shall negotiate for the costs related to the increase.


 


		(2)	Party
                                            B’s water charges = Party B’s monthly water usage in tons X Rmb 3.80.



 


		8.	During
                                            the Lease term, Party A provides Party B with the right to use 5 parking spaces (Party A
                                            designated location). Party B is exempt from any rental fees for the 5 parking spaces. Party
                                            B should reasonably use the parking spaces and do not arbitrarily park inappropriate vehicles.
                                            Party A only provides parking spaces for party B to use, and is not responsible for the custody
                                            and management of Party B’s vehicles. If Party B needs to increase the parking spaces
                                            in the future, Party B should negotiate with Party A, and both Parties shall enter into a
                                            parking space rental Contract.



 


		9.	Party
                                            A’s account information is as follows:



Bank
of Account: Xinhui Branch of Industrial and Commercial Bank of China Co., Ltd  


Account
Holder: Guangdong Huadian Technology Industry Co., Ltd    


Bank
Account Number: [*]


 


		2.	PURPOSE
                                            OF LEASING



 


Party
B undertakes that Property shall be used as the company's design, production, processing, sales, commerce, office and other purposes,
and Party B shall abide by the relevant provisions on the use and property management in accordance with the principle of who operates
in the Property should also manage it, and conduct business in a civilized way. If Party B needs to increase the use of other projects
or change the use of the Property, Party B must obtain written consent of Party A and approvals from other relevant regulatory bodies.
Otherwise it could be a breach of the Contract and Party A has the right to terminate this Contract before its expiry.


 


		3.	PARTY
                                            A’S RIGHTS AND OBLIGATIONS



 


		1.	Party
                                            A shall pass the custody of the Property to Party B on January 1, 2021, and Party B shall
                                            sign the transfer of items on the day of admission.



 


		2.	During
                                            the Lease Term, if Party B, in the normal use of the Property, find that there is a structural
                                            damage or disorders in the building, Party B should promptly notify Party A to repair. Party
                                            A should, upon being notified by Party B, conduct the repair as soon as possible. If the
                                            damage and disorders are not caused by Party B, Party A shall be responsible for the costs
                                            of repairs.



 






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		3.	PARTY
                                            B’S RIGHTS AND OBLIGATIONS



 


		1.	Party
                                            A shall pass the Property as it is (including simple decoration, cargo elevator and fire
                                            prevention facilities) to Party B for use. During the Lease Term, Party B shall bear the
                                            maintenance and repair costs of the cargo elevator and shall make reasonable use of and take
                                            care of the Property and its facilities. For any damage and malfunction of the Property and
                                            its ancillary facilities due to the use of Party B, Party B shall be responsible for maintenance
                                            and bear the cost. If Party B refuses to repair, Party A has the right to carry out the repair
                                            on behalf of Party B and the cost is to be borne by Party B.



 


		2.	During
                                            the Lease Term, Party B may, according to their own operating characteristics, renovate or
                                            install new living and production facilities (If the science and technology park's master
                                            water meter and master electricity meter are provided and installed by Party A, all the water
                                            and electricity branch installations are to be responsible by Party B). However, in principle,
                                            Party B cannot damage the original construction structure, the plan for the renovation and
                                            additions needs to be agreed by Party A and approved by the relevant government departments.
                                            Reporting to relevant government departments, on-site supervision inspection, completion
                                            and acceptance of the relevant work, and the related costs are to be responsible by Party
                                            B.



 


		3.	During
                                            the Lease Term, Party A has the right to urge Party B to do a good job in fire, safety, environmental
                                            protection, hygiene and other work. Party B shall strictly abide by the provisions of the
                                            Fire Protection Law of the People's Republic of China, the Environmental Protection Law of
                                            the People's Republic of China, the Production Safety Law of the People's Republic of China
                                            and other relevant requirements during the Lease Term, and actively do a good job in fire
                                            protection, environmental protection, etc. Otherwise, all responsibilities and losses caused
                                            by the breaches shall be borne by Party B.



 


		4.	During
                                            the Lease Term, Party B must strictly abide by the safety, fire, health provisions in the
                                            Science and Technology Park, as well as provisions on personnel, materials in and out. Party
                                            B is directly responsible for the associated safety, fire, hygiene of the Property. During
                                            the Lease Term, Party B shall be responsible in case of a fire, theft and other accidents.
                                            Party B shall ensure that production supplies meet environmental protection requirements,
                                            not to store flammable and explosive items, production and operation does not endanger human
                                            health or cause pollution of the environment.



 


		5.	If
                                            Party B needs to set up billboard(s) in the public area in the science and technology park,
                                            Party B shall apply to Party A in advance in writing, and submit the design. Party B can
                                            install the billboard after obtaining the consent of Party A. Party A will charge an appropriate
                                            rent depending on the size of the billboard.



 


		6.	During
                                            the Lease Term, Party B shall compensate Party A for damage, fire and loss of value caused
                                            by poor custody of the Property. In case of the above causing safety issues arisen from the
                                            damage of the Property, Party A has the right to terminate the Contract prior to its expiry
                                            and all the losses shall be borne by Party B;



 


		7.	Party
                                            B shall pay the rental to Party A on time, and after three years of the Lease, the rental
                                            shall increase by 5% per year, and the associated rental shall be as follows:



 


First
year: (January 1, 2021 to December 31, 2021) Rmb 50,245 per month (of which Rmb 30,147 is rental and Rmb 20,098 is charged for property
management);


 


Second
year: (January 1, 2022 to December 31, 2022) Rmb 60,270 per month (of which Rmb 36,162 is rental and Rmb 24,108 is charged for property
management);


 


Third
year: (January 1, 2023 to December 31, 2023) Rmb 63,284 per month (of which Rmb 37,970 is rental and Rmb 25,314 is charged for property
management).


 


Fourth
year: (January 1, 2024 to December 31, 2024) Rmb 66,448 per month (of which rental is Rmb39,869 and Rmb 26,579 is charged for property
management).


 


Fifth
year: (January 1, 2025 to December 31, 2025) Rmb 69,770 per month (of which Rmb 41,862 is rental and Rmb 27,908 is charged for property
management).


 






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		5.	RESPONSIBILITIES
                                            FOR BREACH OF CONTRACT



 


		1.	Late
                                            payment liability: Party B shall pay Party A according to the contract amount and date. In
                                            case of overdue, Party A shall have the right to charge Party B a late fee of one thousandth
                                            of the current rental amount on a daily basis. If Party B fails to settle overdue rental
                                            for 30 days, Party A shall have the right to terminate the Contract at any time and to recover
                                            the Property; Party B shall move out unconditionally, and make up the balance owed for the
                                            Property; and Party B shall pay Party A a default penalty equivalent to three month of the
                                            rental (with the rental for the last year of the Lease Term as the billing standard).



 


If
Party B fails to pay the utility bill within 10 days of the expiration of the due date, Party A shall have the right to deduct directly
from the utility deposit. If the utility deposit is insufficient for the deduction, and Party B’s payment obligation is not fulfilled
after party A's collection effort, Party A shall make a water and electricity outage until Party B pays all the outstanding expenses
to Party A.


 


		2.	Party
                                            B cannot place more than 0.75 tons/square meter of weight for objects or production equipment
                                            in the Property. In violation of this provision, Party A has the right to request Party B
                                            to restore the damaged areas or to compensate for any losses caused.



 


		3.	If
                                            Party B changes the purpose of the Property, renovates the Property or installs additional
                                            structures without obtaining written consent of Party A or work beyond the scope of Party
                                            A's written consent, Party A has the right to terminate the Contract at any time, recover
                                            the Property; Party B shall unconditionally move out and compensate Party A for the loss.



 


		4.	If
                                            Party B sublet to a third party (including a subsidiary of Party B) without obtaining written
                                            consent from Party A, Party A has the right to terminate the Contract at any time, recover
                                            the Property and all facilities; Party B shall unconditionally move out and compensate Party
                                            A for the loss.



 


		5.	Party
A and Party B agree that within the first 30 months of the Lease Period, Neither Party shall terminate the Contract. Otherwise, the Party
who breaches this provision shall compensate for the losses of another Party. After the first 30 months of the Lease Period, if one Party
withdraws the Lease, it shall notify the other party 3 months in advance of the termination. The other Party shall have the right
to demand for compensation in accordance to the following: (the rental shall be based on the monthly rental fee for the last year of
the Lease Term):



 


(1)
If the actual leased term ≥ 50 months of the Lease term, the Party in breach shall pay another Party compensation equals to one month
of rental;


(2)
30 months ≤ if the actual leased term < 50 months, the Party in breach shall pay another Party compensation equals to two-month
of rental;


 


If
Party B withdraws the Lease before its expiry, Party A shall have the right to deduct any compensation mentioned above from the rental
deposit. If the rental deposit is not sufficient to cover the compensation, Party B shall pay the balance of the compensation to Party
A. Upon that, Party B shall return the original rental deposit receipt to Party A. If Party A requests for early termination and recovers
the Property, Party A shall, in addition to the above compensation, returns the rental deposit and any balance of monthly rental to Party
B.


 


		6.	CONDITIONS
                                            FOR THE TERMINATION OF THIS CONTRACT



 


		1.	Both
                                            Party A and Party B agree that during the Lease Term, if one of the following circumstances
                                            occurs, this Contract will automatically terminate, the two Parties shall not be liable to
                                            each other:



 


(1)
The land use right of the Property is withdrawn before expiry according to law;


(2)
The Property is requisitioned in accordance with the law in the public interest;


(3)
The Property is included in any of the relocation/demolition areas for town planning according to law;


(4)
The Property has been damaged, destroyed or identified as dangerous;


(5)
The occurrence of force majeure makes this contract unenforceable;


(6)
The Government has decided to expropriate the land where the Property is located and to demolish it.


 






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		2.	Party
                                            A and Party B both agree that if one of the following circumstances occurs, one Party may
                                            notify the other Party in writing to terminate the contract. The Party in breach shall pay
                                            the other Party double of the monthly rental (based on the last year's monthly rental) as
                                            compensation and, if the above compensation is insufficient to compensate the loss of the
                                            other Party, the Party in breach shall also compensate for the loss:
	 	 	 



		(1)	Party
                                            B has not obtained party A's consent to change the use of the Property and result in damage
                                            of the Property;



		(2)	The
main structure of the Property is damaged and that is caused by Party B;



		(3)	Party
B sublets the Property or to exchange the Property with another party without authorization from Party A



		(4)	Party
                                            A causes that Party B's production cannot be carried out normally and causes losses to Party
                                            B;



		(5)	The
Project is subject to a pledge before the Lease, and is being enforced;



		(6)	This
                                            Contract shall be deemed irrevocable or not cancellable except for the achievement of the
                                            conditions for termination in this Contract;



		(7)	Party
                                            B shall abide by the Annex "Responsibility for Lease Penalty" and "Property
                                            Management of Huadian Science and Technology Park”. If Party B violates the rules in
                                            a serious manner, Party A reserves the right to terminate the Contract.



 


		7.	TERMINATION



 


		1.	The
                                            Lease expires. Party A has the right to recover the Property, and will inform Party B one
                                            month in advance, so that Party B to make arrangements in advance. Party B shall vacate for
                                            the delivery of the Property on time and ensure that its condition are in a good standard
                                            (including interior with normal wear-out), and settle the expenses to be borne by Party B
                                            and sign the confirmation of withdrawal. If Party B is required to continue to lease the
                                            Property, Party B shall submit a written request to Party A for renewal of the Lease and
                                            re-sign the Lease Contract with the consent of Party A three months before the expiration
                                            of the Lease Term. Upon expiry of the Lease Term, if Project A lease the Property, under
                                            equal conditions, Party B has the priority to lease the Property;



 


		2.	After
                                            the expiration of the Lease Term or the termination of the Contract between the two Parties,
                                            Party B can handle its own removable objects, but Party B cannot remove or damage anything
                                            built into the structure of the wall of the building (such as wall cabinets, wires, fire
                                            extinguishing facilities, etc.), and Party A shall not make any compensation to Party B.
                                            If Party B wants to remove those items, it shall obtain written consent from Party A. Otherwise,
                                            Party B shall be responsible for all relevant repair costs caused in the removal;



 


		3.	If
                                            any Party to the Contract breaches and the Contract cannot continue to be performed, the
                                            Parties shall determine a specific time for termination of the Contract and sign a contract
                                            on the termination. Party B must keep the receipt of the rental deposit and utility deposit.
                                            Party A shall, in accordance to the appropriate conditions, refund the rental deposit and
                                            utility deposit to Party B.



 






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		8.	OTHER
                                            TERMS



 


		1.	For
                                            issues not covered in this Contract, if Party A and Party B both agree, they can conclude
                                            a supplementary Contract. The supplementary Contract and annexes to this Contract are an
                                            integral part of this Contract.



 


		2.	Party
                                            A and Party B both in signing this contract, clearly understand their respective rights,
                                            obligations and responsibilities, and are willing to follow the Contract strictly. If one
                                            Party breaches the Contract, the other Party has the right to act in accordance with these
                                            Provisions to demand for compensation. The Party in breach shall bear litigation fees, preservation
                                            fees, attorneys' fees and so on to recover the compensation.



 


		3.	In
                                            case of any disputes arising between Party A and Party B in the performance of this Contract,
                                            the disputes should be resolved through negotiation for a settlement. If the negotiation
                                            fails to resolve the dispute, both Parties may, in accordance with the law, file a lawsuit
                                            with the people's court where the Contract was signed.



 


		4.	This
                                            Contract shall have two copies, Party A and B each holds one. Both copies are equally effective.



 


Annex
1: Property sketches.


Annex
2: Responsibilities for safe production in leased premises.


Annex
3: General treaty for property management at Huadian Science and Technology Park.


 


Party
A: /s/ Guangdong Huadian Technology Industry Co., Ltd.


Address:
3 Jin Hua Road, Xinhui District, Jiangmen City


Contact: 0750-6628219
Contact:


Date:
Year Month Day


Party
B:  /s/ Jiangmen Treasure Success Business Consultancy Co., Ltd


Date:
Year Month Day






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