Exhibit
10.24


 


 


 


	Working
    Capital Loan Contract (Version 3, 2021)
	No.:
    FZGHZ22015D01


 


Working
Capital Loan Contract


 


China
Everbright Bank


 


 


 






     


     


    

 


 


Table
of Contents


 


	 	Chapter
                                            1	General
    Provisions
	 	 	 
	 	Chapter
                                            2	Purpose
    of Loan
	 	 	 
	 	Chapter
                                            3	Currency,
    Amount, Period and Transfer of Loan
	 	 	 
	 	Chapter
                                            4	Interest
    Rate and Interest Calculation Method of Loan
	 	 	 
	 	Chapter
                                            5	Granting,
    Payment and Use of Loan Funds
	 	 	 
	 	Chapter
                                            6	Method
    of Repayment
	 	 	 
	 	Chapter
                                            7	Guarantee
	 	 	 
	 	Chapter
                                            8	Assumption
    and Compensation of Expenses
	 	 	 
	 	Chapter
                                            9	Representations,
    Warranties and Commitments of the Borrower
	 	 	 
	 	Chapter
                                            10	Event
    of Default
	 	 	 
	 	Chapter
                                            11	Miscellaneous
	 	 	 
	 	Chapter
                                            12	Applicable
    Law and Dispute Resolution
	 	 	 
	 	Chapter
                                            13	Effectiveness,
    Change and Cancellation of the Contract
	 	 	 
	 	Chapter
                                            14	Appendix
	 	 	 
	 	Chapter
                                            15	Supplemental
    Provisions
	 	 	 
	 	Appendix
                                            1	Table
    for Assumption of Expenses




 


 


 






     


     


    

 





 


Borrower:
Fuzhou Yukai Trading Co., Ltd.


 


Domicile:
Rooms 909, 910 and 991, Xinya Building, No.121, Dongjie Sub-district, Gulou District, Fuzhou City


 


Postal
Code: 350000


 


Legal
Representative: Zheng Zhenyu


 


Entrusted
Agent:       \      


 


Handling
Person:       \      


 


Telephone:


 


Fax:
      \      


 


Opening
Bank: China Everbright Bank Co., Ltd. Fuzhou Guohuo Road Sub-branch


 


Account
Number:


 


Loan
Bank: China Everbright Bank Co., Ltd. Fuzhou Branch


 


Domicile:
Building 1#, Zonshine Center, No. 153, Wuyi North Road, Shuibu Sub-district, Gulou District, Fuzhou City


 


Postal
Code: 350000


 


Legal
Representative/Person in Charge: Xie Bowu


 


Entrusted
Agent:        \      


 


Handling
Person: Deng Zusen


 


Telephone:


 


Fax:
      \      


 


Chapter
1     General Provisions


 


The
Borrower applies for a loan from the Loan Bank due to the need for business operation. Upon review, the Loan Bank agrees to grant the
loan to the Borrower in accordance with the terms and conditions of this Contract.


 


In
order to clarify the rights and obligations of both parties, according to the relevant laws and regulations of our country and the provisions
of regulatory authorities, through negotiation, both parties have voluntarily reached the following terms for compliance.


 


 


 






    1


     


    

 


 


 


Chapter
2     Purpose of Loan


 





Clause
1     After negotiation between both parties, it is determined that:


 


1.    The
loan under this Contract can only be used by the Borrower for working capital turnover, and the specific purpose is to pay for the
information service project of the smart medical command and dispatch center.


 


2.    The
Borrower may not use the loan funds for investment in fixed assets, equities, bonds and funds, nor for the fields and purposes prohibited
by the state for production and operation.


 


3.    Without
the prior written consent of the Loan Bank, the Borrower may not change the purpose of the loan determined in this Contract.


 


Chapter
3     Currency, Amount, Period and Transfer of Loan


 


Clause
2     The currency and amount of the loan under this Contract are (in words) RMB seven million yuan only.


 


Clause
3     The loan period under this Contract is from August 15, 2022 to May 11,
2023.


 


Clause
4     Under the circumstance that the prerequisites stipulated in Clause 10 of this Contract are fully satisfied,
the Loan Bank shall transfer the loan amount to the account opened by the Borrower with the Loan Bank in the manner stipulated in Paragraph
1 below:


 


1.
Lump-sum transfer. The Loan Bank will transfer all the loan amount to the account opened by the Borrower with the Loan Bank on August 15,
2022.


 


2.
Transfer by installment. The specific transfer amount and date are as follows:


 


The
first transfer:


 


(1)
The transfer amount will be: (in words)         \         \        ;


 


(2)
The transfer date will be:         \        .


 


The
second transfer:


 


(1)
The transfer amount will be: (in words)         \        \         ;


 


(2)
The transfer date will be:         \         .


 


The
third transfer:


 


(1)
The transfer amount will be: (in words)         \        \         ;


 


(2)
The transfer date will be:         \         . 


 


 


 






    2


     


    

 


 


 


3.
Unscheduled transfer by installment:


 


The
transfer will be made at any time according to actual needs, and the specific number of times, amount and time limit shall be subject
to those recorded in the loan receipt/loan voucher at the time of transfer.


 


Other
provisions:         \         .


 


Chapter
4     Interest Rate and Interest Calculation Method of Loan


 


Clause
5     The Borrower shall pay the loan interest to the Loan Bank for the loan granted by the Loan Bank under
this Contract in accordance with the provisions of this Contract. The loan interest rate under this Contract is simple interest (except
for the circumstances listed in Clause 9).


 





1.
     If the loan under this Contract is in RMB, the annual interest rate of the loan will adopt a fixed (fixed/floating)
interest rate.


 


1.1
If a fixed interest rate is adopted, the pricing of the actual execution annual interest rate of the loan will adopt the following method:


 


(1)
Based on the loan market quoted interest rate, plus (plus/minus) 80BPs according to the value of loan market quoted interest
rate, that is, the actual execution annual interest rate of the fixed-rate loan under this Contract is 4.5%.


 


(2)
Loan market quoted interest rate refers to the LPR1Y (LPR1Y/LPR5Y) loan market quoted interest rate published by the National
Interbank Funding Center at 9:30 on July 20, 2022 (which will be postponed in case of holidays): 3.7%.


 


(3)
During the loan period, the actual execution annual interest rate of the loan under this Contract will remain unchanged.


 


1.2
If a floating interest rate is adopted, the pricing of the actual execution annual interest rate of the loan will adopt the following
method:


 


(1)
Based on the loan market quoted interest rate,     \      (plus/minus)     \    
BPs according to the value of loan market quoted interest rate, that is, the actual execution annual interest rate of the floating-rate
loan under this Contract is     \     %.


 


(2)
Loan market quoted interest rate refers to the     \      (LPR1Y/LPR5Y) loan market quoted
interest rate published by the National Interbank Funding Center at 9:30 on     \     
20,     \      (which will be postponed in case of holidays):     \    
%.


 


(3)
Interest rate floating cycle:


 


The
actual execution annual interest rate of the floating-rate loan under this Contract will be floated [ \ ] with the adjustment
of LPR in real time, [ \ ] on a quarterly basis (anchoring the value date in the last month of each quarter), [ \ ] on
a half-yearly basis (anchoring the value date in June and December of each year), [ \ ] every one full month from the
value date of the loan, [ \ ] every three full months from the value date of the loan, [ \ ] every six full months from
the value date of the loan, or [ \ ] every one full year from the value date of the loan, and the actual execution annual interest
rate of the new loan will be calculated based on the corresponding loan market quoted interest rate.


 


 


 






    3


     


    

 


 


 


From
the repricing date, this Contract will be subject to the latest loan market quoted interest rate published by the National Interbank
Funding Center on the repricing date.


 


The
repricing date refers to the date on which the new loan market quoted interest rate is applied to the floating-rate loan under this Contract
according to the interest rate floating cycle. The new loan market quoted interest rate will be determined in accordance with the method
stipulated in Paragraph 1.2 of this Clause, and the interest will be calculated according to the floating interest rate from the date
when the new loan market quoted interest rate begins to be applied (i.e., the repricing date). The Borrower may inquire about the latest
loan market quoted interest rate on the websites of the National Interbank Funding Center and the People’s Bank of China.


 


(4)
The interest rate fluctuation of the floating-rate loan under this Contract shall not be regarded as a modification of this Contract.


 


1.3
After the loan under this Contract is granted, if the loan pricing method or interest calculation method in this Contract needs to be
adjusted due to the change of the national policy on interest rate, for example, the People’s Bank of China announces that it cancels
or no longer updates the corresponding RMB loan market quoted interest rate, or the RMB loan market quoted interest rate is no longer
a reference for loan pricing generally applicable to the market, the pricing method of the loan under this Contract will be implemented
in accordance with the unified opinions of the People’s Bank of China and other competent authorities at that time. The loan bank
will directly change this Contract according to the national policy on interest rate at that time, and notify the Borrower through official
website and outlet announcement, telephone, SMS, e-mail, mobile banking and other channels.


 


If
the Borrower does not accept the Loan Bank’s change of this Contract according to the national policy on interest rate, the Borrower
shall negotiate with the Loan Bank to change this Contract within five (5) banking days after the Loan Bank issues a notice; if
no agreement can be reached within ten (10) banking days after the negotiation begins, the Borrower shall pay off all the principal
and interest of the loan within thirty (30) banking days from the date when no agreement can be reached; if all the principal and interest
of the loan are not paid off, the outstanding part will be implemented in accordance with the latest loan pricing method published by
the People’s Bank of China and other competent authorities.


 


1.4
Other provisions:


 


      \      
.


 


2.
If the loan under this Contract is in foreign currency (non-RMB), the annual interest rate of the loan will adopt a       \      
 (fixed/floating) interest rate.


 


2.1
If a fixed interest rate is adopted, the pricing of the actual execution annual interest rate of the loan will adopt the following method:


 


(1)
Based on the foreign currency loan market interest rate,       \      
 (plus/minus)       \       BPs according to the value of foreign
currency loan market interest rate, that is, the actual execution annual interest rate of the fixed-rate loan under this Contract is
      \       %.


 


 


 






    4


     


    

 


 


 


(2)
Foreign currency loan market interest rate refers to the
       \        (LIBOR/HIBOR/other) quoted interest rate:       \       %.


 


(3)
During the loan period, the actual execution annual interest rate of the loan under this Contract will remain unchanged.


 


2.2
If a floating interest rate is adopted, the pricing of the actual execution annual interest rate of the loan will adopt the
following method:


 


(1)
Based on the foreign currency loan market interest rate,     \      (plus/minus)     \     BPs
according to the value of foreign currency loan market interest rate, that is, the actual execution annual interest rate of the
floating-rate loan under this Contract is     \     %.


 


(2)
Foreign currency loan market interest rate refers to the      \      
(LIBOR/HIBOR/other) quoted interest rate:      \      %.


 


The
actual execution annual interest rate of the floating-rate loan under this Contract will be floated [ \ ] every one full month
from the value date of the loan, [ \ ] every three full months from the value date of the loan, [ \ ] every six full months
from the value date of the loan, or [ \ ] every one full year from the value date of the loan, and the actual execution annual
interest rate of the new loan will be calculated based on the corresponding foreign currency loan market interest rate.


 


From
the repricing date, this Contract will be subject to the latest      \      
(LIBOR/HIBOR/other) quoted interest rate published on the repricing date.


 


The
repricing date refers to the date on which the new foreign currency loan market interest rate is applied to the floating-rate loan under
this Contract according to the interest rate floating cycle. The new foreign currency loan market interest rate will be determined in
accordance with the method stipulated in Paragraph 2.2 of this Clause, and the interest will be calculated according to the floating
interest rate from the date when the new foreign currency loan market interest rate begins to be applied (i.e., the repricing date).
The Borrower may inquire about the latest foreign currency loan market interest rate in the China Everbright Bank.





 


(4)
The interest rate fluctuation of the floating-rate loan under this Contract shall not be regarded as a modification of this
Contract.


 


2.3
After the loan under this Contract is granted, if the loan pricing method or interest calculation method in this Contract needs to
be adjusted due to market changes, for example, the      \      
(LIBOR/HIBOR/other) quoted interest rate is cancelled or no longer published, the pricing method of the loan under this Contract
will be negotiated by the Borrower and the Loan Bank.


 


The
Borrower shall negotiate with the Loan Bank to change the Contract within five (5) banking days after the Loan Bank issues a notice
of interest rate negotiation and adjustment; if there is no negotiation or no agreement can be reached within ten (10) banking days
after the negotiation begins, the Borrower shall pay off all the principal and interest of the loan within thirty (30) banking days from
the date when no agreement can be reached; if all the principal and interest of the loan are not paid off, the Loan Bank will regard
the Borrower as accepting the change contract formulated by the Loan Bank, and the execution date of the contract after the change will
be determined by the Loan Bank.


 


 


 






    5


     


    

 


 


 


2.4
Other provisions: 


 


      \      
.


 


Clause
6     The interest of the loan under this Contract will be settled on a monthly (quarterly/monthly)
basis, and the interest settlement date will be the 20th day.


 


Clause
7     The loan interest under this Contract will be calculated on the basis of 360 days per year, from the
date when the loan is transferred from the Loan Bank, according to the loan amount actually transferred from the account of the Loan
Bank and the number of days occupied.


 


Clause
8     If the Borrower fails to repay the loan in accordance with the provisions of this Contract, the Loan
Bank will have the right to charge interest at the overdue penalty interest rate from the date when the loan is overdue until the Borrower
pays off all the principal and interest of the loan. The overdue penalty interest rate will be subject to an additional rate of 50%
(30% - 50%) based on the loan interest rate stipulated in Clause 5 of this Contract.


 


If
the Borrower fails to use the loan for the purpose stipulated in this Contract, the Loan Bank will have the right to charge interest
at the embezzlement penalty interest rate from the date when the Borrower fails to use the loan for the purpose stipulated in this Contract
until the Borrower pays off all the principal and interest of the loan. The embezzlement penalty interest rate will be subject to an
additional rate of 100% (50% - 100%) based on the loan interest rate stipulated in Clause 5 of this Contract.


 


Clause
9     For the interest that the Borrower fails to pay on time, the Loan Bank will have the right to calculate
and charge compound interest at the penalty interest rate.


 


Chapter
5     Granting, Payment and Use of Loan Funds


 


Clause
10     Unless the following prerequisites for withdrawal are met, the Loan Bank will not be obliged to provide
the Borrower with the loan under this Contract:


 


1.    The
Borrower has provided all the documents required by the Loan Bank (including but not limited to the fund payment plan that needs to be
provided by the Borrower before the loan is granted, or the Notice on the Entrusted Payment of Loan, transaction contract and other transaction
background information related to the loan payment), with no change in the situations stated therein, and such documents remain valid,
or the Borrower has made explanations and clarifications on the changes to the satisfaction of the Loan Bank;


 


2.    The
Borrower has completed the loan receipt/loan voucher related to this withdrawal. The loan receipt/loan voucher shall be an integral part
of this Contract and have the same legal effect as this Contract. If the loan amount, loan period, loan interest rate, actual loan date,
maturity date and other specific loan conditions under this Contract are inconsistent with those recorded in the loan receipt/loan voucher,
those recorded in the loan receipt/loan voucher shall prevail;


 


3.    The
Borrower must, in accordance with the provisions of relevant laws and regulations, complete the government permission, approval, registration
and other legal procedures related to the loan; if required by the Loan Bank, the Borrower shall also complete the notarization procedures
of this Contract;


 





 






    6


     


    

 


 


 


4.    If
the loan under this Contract is guaranteed, the Borrower shall ensure that the guarantee contract and the legal procedures such as notarization,
registration and/or insurance of the collateral are completed according to the requirements of the Loan Bank, and the guarantee and insurance
remain valid if the Loan Bank puts forward specific requirements according to the actual situations;


 


5.    The
Borrower does not have any event of default listed in this Contract;


 


On
the premise of meeting the above withdrawal conditions, the Loan Bank can arrange the transfer of the loan to the following account opened
by the Borrower with the Loan Bank according to the provisions in Clause 4 of this Contract.


 


Opening
Bank: China Everbright Bank Co., Ltd. Fuzhou Guohuo Road Sub-branch


 


Account
Number:


 


Unless
the Loan Bank agrees in writing, the loan origination account shall not be allowed to open the online banking payment business.


 


Clause
11     Payment of Loan Funds


 


		1.	Payment
                                            Method of Loan Funds



 


The
payment method of the loan funds under this Contract will be divided into entrusted payment by the Loan Bank or independent payment by
the Borrower.


 


Entrusted
payment by the Loan Bank means that the Loan Bank pays the loan through the Borrower’s account to the Borrower’s transaction
object that meets the contractual purpose according to the Borrower’s withdrawal application and payment entrustment;


 


Independent
payment of the Borrower means that after the Loan Bank directly grants the loan funds to the Borrower’s account according to the
Borrower’s withdrawal application, the Borrower independently pays to the Borrower’s transaction object that meets the contractual
purpose.


 


		2.	Payment
Conditions of Loan Funds



 


		(1)	Conditions
and Amount Standards for Entrusted Payment by the Loan Bank



 


The
Borrower agrees that the Loan Bank has the right to adopt the entrusted payment method in accordance with the relevant national laws
and regulations and the rules of regulatory authorities for the working capital loan under one of the following circumstances:


 


		1	A
                                            new credit business relationship is established with the Borrower, and the Borrower’s
                                            credit status is average;



 


		2	The
                                            object of payment is clear, and the amount of a single payment is relatively large;



 


		3	There
                                            are other circumstances recognized by the Loan Bank.



 


 


 






    7


     


    

 


 


 


The
Borrower agrees that the standard for the entrusted payment of a single loan fund under this Contract is RMB 10 million, that is, the
entrusted payment by the Loan Bank will be adopted for the payment of a single loan fund with an amount greater than or equal to RMB
10 million. During the validity period of this Contract, the Loan Bank will have the right to lower the starting point of the single
payment amount.


 


If
a single amount exceeds the above starting point of the amount, the method of entrusted payment by the Loan Bank must be adopted. For
the payment of loan funds by means of entrusted payment, the Borrower shall use the Notice on Entrusted Payment of Loan in the format
required by the Loan Bank as the only voucher for payment, otherwise the Borrower shall independently bear the consequences of delayed
payment, refusal of payment, dishonor, recourse and compensation, etc.


 


(2)    For
other circumstances other than the conditions of entrusted payment in Item (1) above, the method of independent payment by the Borrower
will be adopted.


 


If
the method of independent payment by the Borrower is adopted, the Borrower shall submit a loan fund payment plan as required by the Loan
Bank, and the Loan Bank shall grant the loan funds to the above loan origination account in accordance with the requirements of the payment
plan after examination and approval. The Borrower shall pay the loan funds in accordance with the submitted loan fund payment plan. The
Borrower shall summarize and report the payment of loan funds to the Loan Bank on a quarterly (monthly/quarterly) basis.


 


Clause
12 Change of Payment Method and Conditions for Triggering the Change


 


In
the process of loan payment, if the Borrower has one of the following circumstances, the Loan Bank will have the right to negotiate with
the Borrower to supplement the loan granting and payment conditions, or change the payment method of loan funds:


 


1.    The
credit status of the Borrower declines;


 


2.    The
profitability of main business is not strong;


 


3.    The
use of loan funds is abnormal;


 


4.    There
are other circumstances that the Loan Bank deems appropriate.


 


Clause
13 Restrictions and Prohibitions on the Payment of Loan Funds


 


After
the signing date of this Contract, in case of any of the following circumstances, the Loan Bank may restrict or even stop the granting
and payment of relevant loan funds:


 


1.    The
circumstances described in Clause 12 occur;


 


2.    The
Loan Bank finds that the Borrower fails to pay or use the loan funds according to the purpose of the loan and has other acts in violation
of the provisions of this Contract;


 


3.    The
Borrower violates the provisions of this Contract and breaks up the whole into parts to avoid the provisions on entrusted payment by
the Loan Bank;


 


 


 






    8


     


    

 



 


 


 


4.            The
Borrower violates other provisions of this Contract;


  


5.            There
are other circumstances that the Loan Bank deems appropriate.


 


Clause
14     The Borrower shall provide the records and information on
the use of loan funds in a timely manner:


 


The Borrower undertakes to
provide the records and information on the use of loan funds in a timely manner in accordance with the requirements of the Loan Bank,
including but not limited to:


 


1.            Transaction
data (including but not limited to written or electronic documents such as contracts and/or invoices for goods, labor services and funds
that can prove the specific purpose of loan funds);


 


2.            Transfer
vouchers, payment and settlement vouchers;


 


3.            Other
information required by the Loan Bank.


 


Chapter 6     Method
of Repayment


 


Clause
15     The Borrower shall pay the interest in accordance with the
provisions of this Contract, and repay the loan principal as agreed in the following Paragraph 1 of this Clause.


 


1.            Lump-sum
principal repayment. The Borrower shall repay all the loan principal on May 11, 2023;


 


2.            Principal
repayment by installment. The specific amount and date of principal repayment are as follows:


 


The first principal repayment:


 


(1)            The
principal repayment amount will be: (in words)                  \                                   ;


 


(2)            The
principal repayment date will be:          \                             .


 


The second principal repayment:


 


(1)            The
principal repayment amount will be: (in words)                \                             ;


 


(2)            The
principal repayment date will be:        \                             .


 


The third principal repayment:


 


(1)            The
principal repayment amount will be: (in words)                 \                             ;


 


(2)            The
principal repayment date will be:            \                             .


 


Other provisions:         \                 .


  


If the repayment date is a
non-banking day of the Loan Bank, the repayment will be postponed to the first subsequent banking day of the Loan Bank, and the non-banking
day of the Loan Bank will be included in the actual number of days occupied by the loan. When the Borrower repays the principal of the
last installment of the loan, the interest shall be paid off with the principal.


 


 


 






    9


     


    

 


 


 


Clause
16     The Borrower shall prepare the interest, principal or other
funds payable in the current period in the account opened with the Loan Bank before the interest settlement date or principal repayment
date stipulated in this Contract and recorded in the loan receipt/loan voucher, and repay the loan in the following ways: [1] (1.
Authorize the Loan Bank to actively transfer from the Borrower’s account on the agreed interest settlement date or principal repayment
date; 2. Repay by itself).


 


Clause
17     The Borrower shall repay the loan under this Contract to
the Loan Bank in full and on time. If the Borrower fails to repay the principal and interest on time, the Loan Bank will have the
right to deduct the Borrower’s payable fee, loan interest and compound interest, and loan principal from any account opened by
the Borrower with the Loan Bank or all branches within the system of China Everbright Bank. For the loans whose principal or
interest is overdue and has not been recovered for 90 days, the order of deduction and repayment shall be implemented in accordance
with the relevant provisions of the Ministry of Finance.


 


If an amount repaid by the
Borrower on a principal and interest repayment date is insufficient to repay the amount due and payable in the current period, the amount
shall be used first to pay the fee payable by the Borrower, then to pay the loan interest and compound interest, and finally to repay
the loan principal. For the loans whose principal or interest is overdue and has not been recovered for 90 days, the order of deduction
and repayment shall be implemented in accordance with the relevant provisions of the Ministry of Finance.


 


Clause
18    If the Borrower intends to repay the loan in advance, it
shall submit a written application to the Loan Bank 30 banking days of the Loan Bank in advance, and obtain the written consent of the
Loan Bank.


 


When the loan is repaid in
advance, the standard for calculating and charging interest will be [1]:


 


1.            Calculated
according to the interest rate stipulated in this Contract until the date of early repayment.


 


2.            Others:
       \       .


 


Clause
19     If the Borrower fails to repay the loan under this Loan Contract
on time and needs to extend the repayment period, it shall formally submit a written application for loan extension to the Loan Bank
[30] banking days of the Loan Bank before the maturity date of the loan. Upon review and approval of the Loan Bank, both parties
shall separately sign the Loan Extension Contract as a supplemental contract to this Contract.


 


 


 






    10


     


    

 


 


 


Chapter 7     Guarantee


 


Clause
20     The guarantee method of the loan under this Contract is:
1, 3.


 


  


1.        Zheng
Zhenyu and Zhang Binhua (the Guarantor) provide joint and several liability guarantee; the guarantee contract number is FZGHZ22015B.


 


2.        The
        \           (the Mortgagor) provides
mortgage guarantee with        \         (collateral); the
mortgage contract number is         \        .


 


3.        Fuzhou
Yukai Trading Co., Ltd. (the Pledgor) provides pledge guarantee with the accounts receivable (pledge/pledge right); the
pledge contract number is FZGHZ22015ZY.


 


4.        Other
guarantee methods:        \        .


 


Clause
21     The Loan Bank and the Guarantor shall sign a corresponding
guarantee contract for the specific guarantee matters, and handle the procedures for the notarization of the guarantee contract, and/or
the insurance and registration of the collateral, etc.


 


Clause
22     If the loan contract is extended, the Borrower and the Guarantor
shall ensure that they will continue to assume the guarantee liability during the loan extension period, and the guarantee contract will
remain valid during the loan extension period.


 


Chapter 8     Assumption
and Compensation of Expenses


 


Clause
23    The Borrower, as the principal, shall bear the expenses required
for signing and executing this Contract and the corresponding guarantee contract in accordance with the principle of “who entrusts,
who pays”, except for the related costs of due diligence investigation, etc. that the Loan Bank shall bear according to law.
See Appendix 1 for the details on the specific subjects and methods of assumption of expenses.


 


Clause
24     Upon the request of the Loan Bank, the Borrower shall immediately
pay and compensate the Loan Bank in full for all expenses and expenditures incurred in exercising any of its rights under this Contract,
including but not limited to litigation costs, arbitration costs, attorney fees, travel expenses and other expenses for realizing the
creditor’s rights.


 


Chapter 9     Representations,
Warranties and Commitments of the Borrower


 


Clause
25     The Borrower is a legal entity/other organization established
and validly existing in accordance with the laws of the People’s Republic of China, with independent capacity for civil conduct,
and has full power, authorization and right to bear civil liabilities and engage in business activities with all its assets.


 


Clause
26     The Borrower has full power, authorization and right to sign
this Contract and carry out the transactions under this Contract, and has taken or obtained all necessary corporate actions and other
actions and consents to authorize the signing and performance of this Contract. This Contract is effectively signed by the legal representative
or entrusted agent of the Borrower and affixed with the official seal of the Borrower.


 


 


 






    11


     


    

 


 


 


Clause
27     The Borrower has obtained all government approvals and third-party
consents required for the signing of this Contract, and the signing and performance of this Contract by the Borrower does not violate
the Borrower’s corporate constitution documents/approval documents (if any) and any other contracts or agreements to which it is
a party.


 


Clause
28     All documents, materials and vouchers provided by the Borrower
to the Loan Bank for the purpose of signing and carrying out transactions under this Contract are true, complete/accurate and valid, without
intentional concealment or major omission. The financial statements submitted by the Borrower truly reflect the financial status of the
Borrower at the time of issuance of the financial statements.


 


Clause
29     This Contract is legal and valid, and constitutes a legally
binding obligation to the Borrower.


 


Clause
30     The Borrower shall open an account with the Loan Bank according
to the requirements of the Loan Bank, and the funds under this Loan Contract shall be settled and used through this account.


 


Clause
31     The Borrower has completed or will complete all registration,
filing or notarization procedures required to ensure the legality, validity or enforceability of this Contract.


 


Clause
32     The Borrower has not been involved in any litigation, arbitration
or administrative proceedings that have a substantial adverse impact on its ability to perform its obligations under this Contract.


 


Clause
33     The representations, warranties and commitments of the Borrower
shall remain correct until the principal and interest of the loan under this Contract are fully paid off, and the Borrower shall provide
relevant documents as required by the Loan Bank at any time.


 


Clause
34     No event of default has occurred or exists with respect to
the Borrower.


 


Clause
35     The Borrower has carefully read and fully understood and
accepted the contents of this Contract. The Borrower’s signing and performance of this Contract is voluntary, and all its intentions
under this Contract are true.


 


Clause
36    The Borrower shall provide true, complete and valid materials
in accordance with the requirements of the Loan Bank. If the Borrower belongs to the group customer determined by the Loan Bank in accordance
with the Guidelines for Risk Management of Credit Business for Group Customers of Commercial Banks, it shall report the related
party transactions of more than 10% of net assets to the Loan Bank in a timely manner in accordance with the provisions of Clause 17 of
the Guidelines, including the relationship between the parties to the transaction, the transaction items and the nature of the transaction,
the amount of the transaction or the corresponding proportion, and the pricing policy (including the transactions with no amount or a
nominal amount only).


 


Clause
37      The Borrower undertakes to cooperate with the Loan
Bank in loan payment management, post-loan management and related inspection.


 


Clause
38     The Borrower shall consciously accept and actively
cooperate with the investigation, understanding and supervision of the Loan Bank on its production, operation and financial
condition, and is obliged to provide the Loan Bank with the latest month’s Balance Sheet, Profit and Loss Statement and
other financial statements or other information reflecting the Borrower’s credit status on a monthly basis.


 


 


 






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Clause
39     During the validity period of this Contract, the Borrower
shall notify the Loan Bank in writing thirty (30) working days in advance if there is any change in the name, legal representative or
legal address of the Borrower.


 


Clause
40     Before paying off all its debts under this Contract, if carrying
out the major events such as external investment, substantial increase of debt financing, merger, division, capital reduction, equity
transfer, asset transfer, application for suspension of business and rectification, application for dissolution and application for bankruptcy,
as well as other actions that may cause changes in the creditor’s rights and liabilities of this Contract or may affect the rights
and interests of the Loan Bank, the Borrower shall notify the Loan Bank in writing 30 working days of the Loan Bank in advance, and with
the written consent of the Loan Bank, implement the liability for debt repayment or early repayment at the same time; otherwise, the above
actions shall not be carried out.


 


Clause
41     The Borrower guarantees that during the validity period of
this Contract, without the written consent of the Loan Bank, it will not assume debts for other corporate legal persons, other organizations
or individuals that are sufficient to affect the Borrower’s ability to repay the loan under this Contract, or provide guarantees
that are sufficient to affect the Borrower’s ability to repay the loan under this Contract, or set mortgages or pledges that are
sufficient to affect the Borrower’s ability to repay the loan under this Contract with the Borrower’s assets, rights and interests.


 


Clause
42     The Borrower undertakes not to involve new implicit debts
of local governments in violation of regulations. Once the Loan Bank finds that the Borrower is involved in the new implicit debt of local
government in violation of regulations, it will suspend the provision of financing, and for the financing contract having been signed
by the Borrower, the Loan Bank will suspend the withdrawal of the Borrower.


 


Clause
43     The Borrower shall immediately notify the Loan Bank in writing
of any other major adverse event other than those mentioned in the preceding paragraph that poses a danger to its normal operation or
has a significant adverse impact on its performance of repayment obligations under this Contract and affect its solvency.


 


Clause
44     The Borrower understands and agrees that the loan under
this Contract shall be granted at any time at the sole discretion of the Loan Bank; the loan shall be subject to regular or irregular
review by the Loan Bank on the date at its sole discretion to determine whether to continue to grant the Borrower any form of loan. The
Loan Bank has the right to terminate or suspend all or part of the loan at any time, and cancel any further use of the loan by the Borrower
without prior notice to the Borrower. As long as the loan has not been granted, the Loan Bank has the right to reject the Borrower’s
application for withdrawal and cancel all or part of the loan under this Contract at any time.


 


Clause
45     The Loan Bank shall have the right to require the Borrower
to open the following account with the Loan Bank as a special fund withdrawal account. The Borrower shall open an account and sign an
account management agreement in accordance with the requirements of the Loan Bank, provide the Loan Bank with the fund inflow and outflow
of the account in a timely manner, and accept the management of the withdrawal fund by the Loan Bank. The Loan Bank shall have the right
to withdraw the loan in advance according to the withdrawal of the Borrower’s funds. The specific account information is as follows:


  


 


 






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Opening Bank: China Everbright
Bank Co., Ltd. Fuzhou Guohuo Road Sub-branch


 


Account Number:


 


Unless agreed by the Loan Bank,
the fund withdrawal account shall not be allowed to open the online banking payment business.


 


Chapter 10     Event
of Default


 


Clause
46     Any of the following events will constitute an event of default
under this Contract:


 


1.        The
Borrower fails to pay the interest or repay the principal on time as agreed in this Contract;


 


2.        The
Borrower fails to use the loan for the purpose as agreed in this Contract;


 


3.        Failing
to pay the loan funds in the agreed manner;


 


4.        Failing
to comply with the commitments;


 


5.         Breaking
through the agreed financial indicators (subject to the requirements of the Loan Bank’s credit approval);


 


6.         A
cross-default event occurs;


 


7.        The
Borrower provides the Loan Bank with the Balance Sheet, Profit and Loss Statement or other financial statement that is false or conceals
important facts, or refuses to accept the Loan Bank’s supervision and inspection on its use of loans and related production, operation
and financial activities;


 


8.        The
representations, warranties and commitments made by the Borrower or the Guarantor under this Contract or the representations, warranties
and commitments made by the Guarantor under the relevant guarantee contract are proved to be untrue or misleading;


 


9.        The
Borrower or the Guarantor is in default under any other contract to which it is a party;


 


10.      The
operation and financial conditions of the Borrower or the Guarantor are seriously deteriorated;


 


11.      The
collateral, pledge/pledge right related to the loan under this Contract is depreciated, damaged or lost;


 


12.      The
Borrower or the Guarantor fails to make a repayment arrangement or debt restructuring plan satisfactory to the Loan Bank when the Borrower
or the Guarantor is merged, divided or transformed into a joint-stock company;


 


13.      The
Borrower or the Guarantor is bankrupt, dissolved, closed, revoked, suspended or cancelled;


 


14.      The
Borrower fails to notify the Loan Bank of the following circumstances in a timely manner:


 


 


 






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(1)       Any
major modification to its articles of association and any substantial change in its business activities;


 


(2)        Any
major modification to its accounting principles;


 


(3)       Any
significant change in the financial, economic and other aspects of it or its subsidiaries or its parent companies.


 


15.       The
Borrower is involved in any litigation, arbitration or administrative proceedings that will have a serious adverse effect on the Borrower’s
financial conditions or the Borrower’s ability to perform its obligations in accordance with this Contract;


 


16.       The
property of the Borrower is sealed up, frozen, detained or supervised according to law, which has affected or may affect the Borrower’s
performance of obligations under this Contract;


 


17.       The
Borrower, as a group customer determined by the Loan Bank in accordance with the Guidelines for Risk Management of Credit Business
for Group Customers of Commercial Banks, takes advantage of the false contracts with related parties to discount or pledge the notes
receivable, accounts receivable and other creditor’s rights without real trade background in the bank to obtain bank funds or credit;
or intentionally evades the bank’s creditor’s rights through related-party transactions.


 


18.       The
Borrower breaches any other provision of this Contract and fails to remedy to the satisfaction of the Loan Bank;


 


19.      The
occurrence of any other event or circumstance that materially and adversely affects the rights of the Loan Bank under this Contract.


 


Clause
47     The Loan Bank shall make a judgment and notify the borrower
whether the above events of default occur. After the occurrence of any of the above events of default, the Loan Bank shall have the right
to take any one or more of the following measures:


 


1.        Stop
the transfer of the loan under this Contract;


 


2.        Declare
all granted loans immediately due, and require the Borrower to immediately repay all granted loan principal, interest, or other expenses
for realizing the creditor’s rights;


 


3.        Require
the Borrower to add or replace the Guarantor, collateral, pledge/pledge right;


 


4.         Deduct
any amount payable but unpaid by the Borrower under this Contract from any account opened by the Borrower with the Loan Bank or any branch
within the system of China Everbright Bank;


 


5.         Declare
the enforcement or realization of the rights under any guarantee in respect of the Loan;


 


6.         Other
methods deemed appropriate by the Loan Bank.


 


 


 






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Chapter 11     Miscellaneous


  


Clause
48     During the validity period of this Contract, the Loan Bank shall
have the right to check the use of the loan, and the Borrower shall provide the Loan Bank with explanations and materials as required
by the Loan Bank.


 


Clause
49     Both parties to the contract shall keep confidential the
materials and information of the other party on its debts, finance, production and operation obtained for the purpose of signing and performing
the contract, except for the inquiry of the Borrower’s relevant information according to law.


 


Clause
50     Without the prior written consent of the Loan Bank, the Borrower
shall not transfer or otherwise dispose of all or part of its obligations under this Contract.


 


Clause
51     Without the prior consent of the Borrower, the Loan Bank may
transfer the creditor’s rights under this Contract to any third party, and only needs to notify the Borrower in writing after the
transfer.


 


Clause
52     All amounts payable by the Borrower under this Contract shall
be paid in full without any offset, deduction or withholding of any nature, and shall not be offset against any debt owed by the Loan
Bank to the Borrower. If the Borrower is required by any law to deduct or withhold any amount paid to the Loan Bank, the Borrower
shall pay an additional amount to the Loan Bank to ensure that the amount received by the Loan Bank is equal to the amount that would
have been received without such deduction or withholding.


 


Clause
53     Any grace, preference or delay granted by the Loan Bank to
the Borrower shall not affect, damage or restrict all rights enjoyed by the Loan Bank in accordance with this Contract, laws and regulations,
and shall not be deemed as the Loan Bank’s waiver of rights and interests under this Contract, nor shall it affect any responsibilities
and obligations assumed by the Borrower under this Contract.


 


Clause
54     If at any time any provision of this Contract is or becomes
illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the remaining provisions of this Contract
shall not in any way be affected or impaired thereby.


 


Clause
55     Any modifications and supplements to this Contract shall
be made in writing, and shall be effectively signed by both parties to this Contract.


 


Clause
56     The sub-headings in this Contract are inserted for convenience
only, and shall not be used as the interpretation of this Contract or for any other purpose. The handwritten contents at the place of
the selection and filling in the Contract shall have the same legal effect as the printed contents of this Contract.


 


Clause
57     The notices and requests that the parties to this Contract send
to each other in relation to this Contract shall be made in writing, and sent to the addresses or faxes of the parties concerned listed
on the first page of this Contract. If either party changes its address or fax, it shall promptly notify the other party in writing.


 


Clause
58     The documents exchanged between the parties shall be deemed
to have been served upon delivery if delivered by hand, three days after posting if sent by registered mail, or at the time of sending
if sent by fax.


 


Clause
59     If the Borrower has any comments and suggestions on the products
and services of the Loan Bank, it can call the customer service/complaint telephone number: 95595 for feedback.


 


 


 






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Chapter 12     Applicable
Law and Dispute Resolution


 


Clause
60     This Contract and any matters involved in this Contract shall
be governed by and interpreted in accordance with the laws of China. Any dispute arising from the performance of this Contract shall first
be resolved by both parties through negotiation; if the negotiation fails, it shall be submitted to the people’s court with jurisdiction
at the place where the loan bank is located for resolution by litigation.


 


Clause
61     The Borrower undertakes that in case of any dispute between
both parties arising out of this Contract/this Agreement, it agrees to select the address listed in the following delivery method [1]
as the address for judicial service; in case of any change in the following address, it shall notify the Bank in writing, and if it fails
to notify the Bank in writing, it shall be deemed that the address for judicial service has not been changed.


 


[1] Address of written service:
Rooms 909, 910 and 991, Xinya Building, No. 121, Dongjie Sub-district, Gulou District, Fuzhou City


 


[2] Address of electronic service
(optional):         \       


 


Fax number:       \        


 


E-mail:         \        


 


WeChat number:        \       


 


Chapter 13     Effectiveness,
Change and Cancellation of the Contract


 


Clause
62     This Contract shall come into effect upon the signature or
seal of the legal representatives or entrusted agents of both parties and the affixing of official seals or special seals for contract.


 


Clause
63     After this Contract comes into effect, unless otherwise stipulated
by laws and regulations and otherwise agreed in this Contract, neither party shall change or cancel this Contract in advance without authorization.
If it is necessary to change or cancel this Contract, both parties shall reach a written agreement through negotiation. The terms of this
Contract shall remain in effect until a written agreement is reached.


 


Chapter 14     Appendix


 


Clause
64     For the matters not covered in this Contract, both parties
may reach a separate written agreement as an appendix to this Contract. The appendix to this Contract shall be an integral part of this
Contract, and have the same legal effect as the text of this Contract.


 


Clause
65     The appendices to this Contract include:


 


1.         Table
for Assumption of Expenses;


 


2.        \        .


 


 


 



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Chapter 15     Supplemental
Provisions


 


Clause
66     This Contract shall be made in triplicate, with one
copy for the Borrower, two copies for the Loan Bank,        \         copies for        \        ,        \         copies for        \        , and        \        
copies for        \        , which shall have the same legal effect.


 


Clause
67     This Contract is signed in Fuzhou City on August 15,
2022.


 


Clause
68     Both parties to the contract agree to notarize this Contract,
and promise to give this Contract the compulsory enforcement effect. When the Borrower fails to perform or fails to fully perform its
debts, or has the circumstance that the Loan Bank realizes the creditor’s rights as stipulated by laws and regulations and agreed
in this Contract, the Loan Bank shall have the right to directly apply to the people’s court with jurisdiction for compulsory enforcement.
The Borrower has no objection to the application for compulsory enforcement made by the Loan Bank in accordance with this Contract. (This
Clause is optional, and both parties choose [2] in this Contract. 1. Applicable; 2. Not applicable.)


 


Clause
69     Other provisions:


 


           \           
..


 


 


 






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(This page is the page signed
by both parties to the contract, and contains no text.)


  


Borrower (Seal):


  


Legal Representative:


 


(or Entrusted Agent)


  


Loan Bank (Seal):


 


Legal Representative/Person
in Charge:


 


(or Entrusted Agent)


 


 


 






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Appendix 1


  


Table for Assumption
of Expenses


 


(This
table is not applicable to the insurance expenses and compulsory enforcement notarization expenses agreed in the guarantee contract corresponding
to this Contract)


 


	No.	Name of Expense	Subject for Assumption of Expenses	Method for Assumption of Expenses	Other Provisions


 


	Remarks:	(1)	Please
                                            put a tick (ü) in the applicable box.



 


		(2)	According to relevant laws, regulations and regulatory provisions, for the financing of small and micro
enterprises, if the bank is the first beneficiary of the borrower’s accident insurance, the insurance expense shall be borne by
the bank, and the mortgage registration expense shall be borne by the bank.



 


If this table for assumption of expenses
involves any other expense assumption subject other than the Borrower and the Loan Bank who have signed this Contract, it shall be subject
to the consent of such expense assumption subject.


 


Other Expense Assumption Subject (Seal):


 


Legal Representative (or Entrusted
Agent):


 


 


 






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