EXHIBIT 4.34


 


TERMINATION
AGREEMENT 


 


This Termination Agreement (the
“Agreement”) is entered into on May 27, 2015 in Shanghai, China among:


 


Party A: 


 


Shanghai HJX Digital Technology
Co., Ltd.


 


	Domicile:	 	No.55, Lane 1135, Jiasong Zhong Road, Huaxin Town,
    Qingpu District, Shanghai
	Legal Representative:	 	Dongjie Yang


 


Party B: 


 


Dongjie Yang 


 


	ID Card No.:	 	140106196803232537
	 	 
	Address:	 	Room 302 and 303, Unit 6, Building 1, No.5 North
    Jia Heping Li, Chaoyang District, Beijing


 


Weiguo Ge 


 


	ID Card No.:	 	320203196607100019
	 	 
	Address:	 	Room 402, No.24, Lane 1111, Donglan Road, Minhang
    District, Shanghai


 


Party C: 


 


Shanghai HJX Electronic Technology
Co., Ltd.


 


	Domicile:	 	Room 187, Area E, First Floor, Building
    1, No.1288, Huateng Road, Huaxin Town, Qingpu District, Shanghai
	 	 
	Legal Representative:	 	Dongjie Yang


 


Party D: 


 


Kuan Song 


 


	ID Card No.:	 	410503198209212012
	 	 
	Address:	 	Room 2202, Floor 5, Building 25, Ganlu Garden
    Nan Li, Chaoyang District, Beijing


 


Party E:


 


Pan Zong 


 


	ID Card No.:	 	410901198605200020
	 	 
	Address:	 	Room 9, Unit 1, Building 4, Yard 7, Kaizhou Road,
    Hualong District, Puyang City, Henan Province


 


Whereas: 


 


	1.	Party A, Party B and Party C entered into an Organization and Management Agreement
    (the “Organization and Management Agreement” hereinafter) on December 17, 2013;


 


	2.

         
	Party A, Party B and Party C entered
        into an Exclusive Purchase Agreement (the “Exclusive Purchase Agreement” hereinafter) on December 17,
        2013;

         

	3. 	Party A and Party B entered into an Equity Pledge Agreement (the “Equity
    Pledge Agreement” hereinafter) on December 17, 2013;


 


	4.	Party A and Party B entered into a Loan Agreement (the “Loan Agreement”
    hereinafter) on September 23, 2013;


 




     


     


    

 


	5.	Party A and Party C entered into an Exclusive Technical Service Agreement
    (the “Service Agreement” hereinafter) on December 17, 2013;


 


	 	(The aforementioned agreements
        are collectively referred to as the “Control Agreements”)

         

	6. 	Party A, Party B and Party C plan to terminate the Control Agreements.
	 	 





NOW THEREFORE, the Parties, through
friendly negotiation, hereby agree as follows:


 


	1.	Party A, Party B and Party C unanimously agree that, from the effective date
    of this agreement, the Control Agreements and agreements/documents substantially the same as the Control Agreements executed
    by relevant parties separately in order to meet business registration requirements (if any, the “Relevant Documents”
    hereinafter) are terminated. All parties’ rights and obligations under the Control Agreements and Relevant Documents
    are terminated respectively, unless otherwise agreed in this Agreement or there are clauses agreed explicitly in the Control
    Agreements or Relevant Documents that are still effective after the termination of such agreements (e.g. the confidential
    clause).


 


	2.	Within 15 business days from the execution of this Agreement, Party A, Part
    B and Party C shall resolve the pledged equity under the Equity Pledge Agreement together at the administration for industry
    and commerce.


 


	3.	Party A, Party B, Party D and Party E unanimously agree that, in the meantime
    when the Loan Agreement is terminated, Party B will transfer all its rights and obligations (including but not limited to
    the loan debt to Party A) under the Loan Agreement to Party D and Party E designated by Party A. Party A, Party D and Party
    E will sign a new Loan Agreement separately


 


	4.	The Agreement shall come into effect when it is signed or chopped by Party
    A, Party B, Party C, Party D and Party E.


 


	5.	This Agreement is executed in six copies, and each party shall hold one copy,
    which shall have same legal effect.


 


	6.	The formation, validity, performance, amendment, interpretation and termination
    of this Agreement shall all be governed by the laws of the People’s Republic of China.


 


	7.	Disputes arising out of or in connection with this Agreement shall first be
    resolved through consultation among the Parties. If a dispute cannot be resolved within 30 days after consultation begins,
    any Party may bring the dispute to the China International Economic and Trade Arbitration Commission in Beijing for arbitration
    under the auspices of three arbitrators designated in accordance with its rules. The arbitration award shall be final and
    binding upon the Parties. 


 


[Signature Page of Termination Agreement,
which does not contain any part of the text]


 


Party A:


 


Shanghai HJX Digital Technology
Co., Ltd. (Corporate Seal) (chopped)


 


Legal Representative:/s/ Dongjie
Yang (Signature)


 


Party B:


 


/s/ Dongjie Yang (Signature)


 


Party B:


 


/s/ Weiguo Ge (Signature)


 


Party C:


 


Shanghai HJX Electronic Technology
Co., Ltd. (Corporate Seal) (chopped)


 


Legal Representative: /s/ Dongjie
Yang (Signature)


 




     


     


    

 


Party D:


 


/s/ Kuan Song (Signature)


 


Party E:


 


/s/ Pan Zong (Signature)