Exhibit 4.1


 


Transfer
Agreement 


 


This Transfer Agreement (this “Agreement”)
is made and entered into as of December 28, 2023 by and among BIMI INTERNATIONAL MEDICAL INC.,
a company organized under the laws of the state of Delaware, the U.S.A. (“Parent”), BIMI PHARMACEUTICAL (CHONGQING) CO., LTD.
(also known as BimAi PHARMACEUTICAL (Chongqing)
Co., Ltd.), a company organized under the laws of the PRC (“Chongqing Pharmaceutical”), WUZHOU QIANGSHENG HOSPITAL
CO., LTD., a company organized under the laws of the PRC ( “Qiangsheng”), SUZHOU EURASIA HOSPITAL CO., LTD., a company organized
under the laws of the PRC (“Eurasia”), YUNAN YUXI MINKANG HOSPITAL CO., LTD., a company organized under the laws of the PRC
(“Minkang”), Mr. JIANGJIN SHEN, an individual residing in the PRC (“Jiangjin”), and Mr. ZHIWEI SHEN, an individual
residing in the PRC (“Zhiwei”). Qiangsheng, Eurasia and Minkang may be referred to herein individually as an “Hospital”
and collectively as the “Hospitals.” Jiangjin and Zhiwei may be referred to herein individually as “Shen” and
collectively as “Shens.” Each of the parties named above may be referred to herein as a “Party” and collectively
as the “Parties.”


 


RECITALS


 


WHEREAS, the Parties are parties
to that certain Stock Purchase Agreement dated as of April 9, 2021 (the “SPA”, together with all amendments thereto, the “Original
Agreement”), as amended by the Amendments dated as of April 16, 2021, December 17, 2021 and December 9, 2022 (the “December
Amendment”), respectively, whereby Chongqing Pharmaceutical purchased all the issued and outstanding shares of capital stock of
the Hospitals from Shens, in consideration of an aggregate purchase price of RMB 162,000,000 (the “Purchase Price”).


 


Whereas,
at the closing of the SPA, 4,000,000 shares of Parent’s common stock (the “Closing Stock Payment”) valued at RMB 78,000,000
were issued to Shens as partial payment of the Purchase Price and 100% of equity interests in the Hospitals were transferred to Chongqing.


 


WHEREAS, due to a 1-for-5 reverse stock split of
Parent on February 2, 2022 and a 1-for-10 reverse stock split of Parent on December 9, 2022, the Closing Stock Payment issued to Shens
were consolidated into 80,000 shares of Parent’s common stock.


 


WHEREAS, pursuant to the December Amendment, the
Purchase Price was reduced to RMB 80,000,000 (the “Adjusted Purchase Price”), and Shens agreed to return 63,600 shares of
Parent’s common stock as a result. The balance of the Adjusted Purchase Price has not been paid as of the date of this Agreement.


 


Whereas,
after the closing of Original Agreement, Chongqing Pharmaceutical formed and transferred the 100% ownership of the Hospitals to wholly-owned
subsidiary BIMI HOSPITAL MANAGEMENT (CHONGQING) CO., LTD. (also known as BIMAI HOSPITAL MANAGEMENT (CHONGQING) CO., LTD., “Chongqing
Management”, together with Chongqing Pharmaceutical, “Chongqing”).


 


WHEREAS, due to unsatisfactory performance of the
Hospitals in 2022, the Parties agree that Chongqing will transfer 90% of the equity interests in each Hospital (collectively, the “Hospital
Shares”) back to Shens, subject to the terms and conditions set forth herein. Chongqing shall continue to own 10% of the equity
interests in each Hospital (the “Option Shares”), with a put option to sell part or all of the Option Shares to Shens. Shens
also agreed to return to Chongqing the entire Closing Stock Payment.


 






     


     


    

 


NOW, THEREFORE, in consideration of the mutual covenants
and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:


 


ARTICLE I

TRANSFER


 


Section 1.01 Transfer.
Subject to the terms and conditions set forth herein, at the Closing, Chongqing shall transfer, assign and deliver to Shens, and Shens
shall receive and accept from Chongqing, all right, title and interest in and to the Hospital Shares (the “Transfer”).


 


Section
1.02 Consideration. As consideration for the Transfer, 


 


		(a)	Chongqing’s Put Right.



 


		(i)	Put Exercise Period.



 


For a period commencing on the Closing
Date and ending at the close of business on December 31, 2032 (the “Put Exercise Period”), Chongqing shall have the right
(the “Put Right”), not the obligation, to cause Shens to purchase all or a portion of the Option Shares at the Put Purchase
Price (as defined below).


 


		(ii)	Procedures.



 


(A) If
Chongqing desires to sell any of the Option Shares pursuant to Section 1.02 (a)(i), Chongqing shall deliver to Shens a written, unconditional
and irrevocable notice (the “Put Exercise Notice”) exercising the Put Right and specifying the number of Option Shares to
be sold (the “Put Shares”) to Shens.


 


(B) By
delivering the Put Exercise Notice, Chongqing represents and warrants to Shens that (X) Chongqing has full right, title and interest in
and to the Put Shares, (Y) Chongqing has all the necessary power and authority and has taken all necessary action to sell such Put Shares
as contemplated by this Section 1.02(a), and (Z) the Put Shares are free and clear of any Lien other than those arising as a result of
or under the terms of this Agreement.


 


(C) Subject
to Section 1.02 (a)(ii) (D) below, the closing of any sale of the Put Shares pursuant to this Section 1.02 (a) shall take place no later
than ninety (90) days following receipt by Shens of the Put Exercise Notice. Shens shall give Chongqing at least ten (10) days’
written notice of the date of closing (the “Put Right Closing Date”).


 


(D) In
the event Chongqing does not deliver a Put Exercise Notice to Shens during the Put Exercise Period, any rights provided to Chongqing to
require Shens to purchase the Option Shares pursuant to this Agreement shall terminate and be of no further force or effect.


 






    2


     


    

 


		(iii)	Put Purchase Price.



 


In the event Chongqing exercises the Put
Right hereunder, the purchase price at which Shens shall be required to purchase the Put Shares (the “Put Purchase Price”)
shall be the valuation of the Put Shares as determined by a reputable third party appraisal firm jointly chosen by Chongqing and Shens,
which valuation shall be final and binding on Chongqing and Shens.


 


		(b)	Return of Closing Stock Payment.



 


By the Closing Date, Shens shall execute
and deliver all documents as requested by Chongqing in order to cause the return to Parent the Closing Stock Payment.


 


ARTICLE II

CLOSING


 


Section 2.01 Closing.
The closing of the transactions contemplated by this Agreement (the "Closing") shall take place at such place and
on such date as the Parties shall mutually agree (the “Closing Date”), which is no later than two business days after
the date that all closing conditions set forth in Sections 6.01 and 6.02 have been satisfied or waived, or remotely by exchange of documents
and signatures (or their electronic counterparts).


 


Section 2.02 Chongqing’s
Closing Deliverables. At the Closing, Chongqing shall deliver to Shens the following:


 


(a) All
agreements, documents, instruments or certificates necessary for changing the official records of all Governmental Bodies of the PRC with
appropriate jurisdiction, to reflect that Shens own, beneficially and on the record, the Hospital Shares;


 


(b) The
Hospital Shares;


 


(c) A
copy of resolutions of the board of directors of Chongqing authorizing the execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby; and


 


(d) All
other agreements, documents, instruments or certificates required to be delivered by Chongqing pursuant to Section 6.01, at or prior to
the Closing.


 






    3


     


    

 


Section 2.03 Shens’s
Deliverables. At the Closing, Shens shall deliver the following to Chongqing:


 


(a) A
transfer agent instruction duly signed by Shens in substantially the form as Exhibit A, directing Parent’s transfer agent
to transfer the Closing Stock Payment which are maintained in an electronic DRS account by Parent’s transfer agent on behalf of
Shens; and


 


(b) All
other agreements, documents, instruments or certificates required to be delivered by Shens pursuant to Section 6.02, at or prior to the
Closing.


 


ARTICLE III

REPRESENTATIONS AND WARRANTIES OF Chongqing 


 


Section 3.01 Chongqing hereby represents
and warrants to Shens that the statements contained in this ARTICLE III are true and correct as of the date hereof and the Closing Date:


 


(a) Authority;
Binding Obligation. Chongqing (a) has the requisite power and authority to enter into and perform its obligations under this Agreement;
(b) has taken all action necessary to authorize its entry into and performance of its obligations under this Agreement; and (c) has caused
its authorized signatory to affix his signature to the signature page of this Agreement. This Agreement constitutes a legal, valid and
binding obligation of Chongqing enforceable against Chongqing in accordance with its terms.


 


(b) No
Conflicts; No Consents. The execution, delivery and performance by Chongqing of this Agreement, and the consummation of the transactions
contemplated hereby, do not and will not: (a) violate or conflict with any provision of any law applicable to Chongqing; or (b) require
the consent, notice or other action by any Person under, violate or conflict with, or result in the acceleration of any agreement to which
Chongqing is a party. No consent, approval, authorization, permit, order, filing, registration or qualification of or with other third
party (other than the Governmental Entities of the PRC with competent jurisdictions) is required to be obtained by Chongqing in connection
with the execution and delivery of this Agreement or consummation of the transactions contemplated herein.


 


(c) Title
to Hospital Shares. Chongqing is the sole direct and beneficial owner of the Hospital Shares, and Shens will receive good and marketable
title to the Hospital Shares as a consequence of the transactions contemplated hereby.


 


(d) No
Brokers. Chongqing has not employed or retained, or has any liability to, any intermediary, broker, investment banker, agent or finder
on account of this Agreement or the transactions contemplated hereby.


 


ARTICLE IV

Representations and warranties of SHENS


 


Section 4.01 Shens, jointly
and severally, represent and warrant to Chongqing that the statements contained in this Article IV are true and correct as of the date
hereof and the Closing Date.


 


(a)
Title to the Closing Stock Payment. The Closing Stock Payment are solely, directly and beneficially owned by Shens, free and clear of
any and all Liens, except for the restrictions under the Securities Act or applicable state securities laws. 


 






    4


     


    

 


(b)
No Conflicts; Consents. The execution, delivery and performance by Shens of this Agreement,
and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with any provision
of any law applicable to Shens; or (b) require the consent, notice or other action by any Person under, violate or conflict with, or
result in the acceleration of any agreement to which Shens is a party. No consent, approval, authorization, permit, order, filing, registration
or qualification of or with other third party (other than the Governmental Entities of the PRC with competent jurisdictions) is required
to be obtained by Shens in connection with the execution and delivery of this Agreement or consummation of the transactions contemplated
herein.


 


(c)
Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder's
or other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf
of Shens.


 


(d)
Legal Proceedings. There are no actions pending or threatened against or by Shens that
challenge or seek to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.


 


(e)
Independent Investigation. Shens have conducted their own independent investigation, review
and analysis of the Hospitals, and acknowledges that they have been provided adequate access to the personnel, properties, assets,
premises, books and records and other documents and data of the Hospital for such purpose. Shens acknowledge and agree that: (a) in making
their decision to enter into this Agreement and to consummate the transactions contemplated hereby, Shens have relied solely upon their
own investigation; and (b) none of Parent, Chongqing, or any other Person has made any representation or warranty as to the Hospitals
or this Agreement, except as expressly set forth herein.


 


ARTICLE V


Covenants


 


Section 5.01 Further Cooperation. Each
Party from time to time at the reasonable request of the other Parties and without further consideration, shall execute and deliver further
instruments of transfer and assignment (in addition to those explicitly required by other provisions of this Agreement) and take such
other actions as such other Parties may reasonably request to effect and perfect the transactions contemplated herein.


 


Section 5.02 Survival of Claims. The representations,
warranties and covenants of Shens shall survive the closing of the transactions contemplated in this Agreement.


 


Section 5.03 Indemnification. Upon the
Closing, each of Chongqing, on one hand, and Shens, on the other hand, hereby agrees to indemnify, hold harmless and defend the other,
and the other's Related Parties from and against any and all Damages arising out of: (a) any breach in any representation or warranty
made by the Indemnifying Party in this Agreement, or (b) any breach or failure of the Indemnifying Party to perform any covenant or obligation
of the Indemnifying Party set out in this Agreement.


 






    5


     


    

 


ARTICLE VI


CLOSING
CONDITIONS


 


Section 6.01 Conditions to Obligations
of Shens


 


The obligations of Shens under this Agreement are
subject to the satisfaction, on or prior to the Closing, of the following conditions, unless waived (to the extent those conditions can
be waived) by Shens:


 


(a) Accuracy
of Representations and Warranties. All representations and warranties made by Chongqing in this Agreement shall be true and correct.


 


(b) Performance
of Obligations. All of the covenants and obligations that Chongqing is required to perform or to comply with pursuant to this Agreement
at or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), shall have
been duly performed and complied with in all material respects. Each document required to be delivered pursuant to Section 2.2 will have
been delivered, and each of the other covenants and obligations in Section 5 shall have been performed and complied with in all respects.


 


(c) Authorization.
All action necessary to authorize the execution, delivery and performance of this Agreement by Chongqing and the consummation of the transactions
contemplated hereby, shall have been duly and validly taken by Chongqing, and Chongqing shall have full power and authority or capacity
to enter into this Agreement to which Chongqing is a party and to consummate the transactions contemplated hereby and thereby on the terms
provided herein and therein.


 


(d) Consents
and Approvals. Chongqing shall have received duly executed copies of all consents and approvals required for or in connection with the
execution and delivery by Chongqing of this Agreement, and the consummation of the transactions contemplated hereby, each in form and
substance reasonably satisfactory to Shens. Chongqing shall have received the consent, approval, authorization, permit, order, filing,
registration or qualification of or with the Governmental Entities of the PRC with competent jurisdictions in connection with the execution
and delivery of this Agreement or the consummation of the transactions contemplated hereby.


 


(e) Actions
and Proceedings. No proceeding shall be pending or threatened before any Governmental Entity that may result in the restraint or prohibition
of the consummation of the transactions contemplated by this Agreement, and no court of competent jurisdiction shall have issued an injunction
with respect to the consummation of the transactions contemplated by this Agreement that shall not be stayed or dissolved at the time
of the Closing.


 


(f) No
Claim Regarding the Hospital Shares. There shall not have been made or threatened by any Person any claim asserting that such Person (a)
is the holder or the beneficial owner of, or has the right to acquire or to obtain beneficial ownership of, or any other voting, equity,
or ownership interest in the Hospital Shares, or (b) is entitled to all or any portion of the Hospital Shares.


 






    6


     


    

 


Section 6.02 Conditions to Obligations
of Chongqing


 


The obligations of Chongqing under this Agreement
are subject to the satisfaction, at or prior to the Closing, of the following conditions, unless waived (to the extent those conditions
can be waived) by Chongqing.


 


(a) Accuracy
of Representations and Warranties. All representations and warranties made by Shens in this Agreement shall be true and correct.


 


(b) Performance
of Obligations. All of the covenants and obligations that Shens are required to perform or to comply with pursuant to this Agreement at
or prior to the Closing (considered collectively), and each of these covenants and obligations (considered individually), shall have been
performed and complied with in all material respects. Each document required to be delivered pursuant to Section 2.3 shall have been delivered,
and each of the other covenants and obligations in Section 5 shall have been performed and complied with in all respects.


 


(c) Authorization.
All action necessary to authorize the execution, delivery and performance of this Agreement by Shens and consummation of the transactions
contemplated hereby and thereby, shall have been duly and validly taken by Shens, and Shens shall have the power to consummate the transactions
contemplated hereby and thereby on the terms provided herein and therein.


 


(d) Consents
and Approvals. Shens shall have received duly executed copies of all consents and approvals required for or in connection with the execution
and delivery by Shens of this Agreement, and the consummation of the transactions contemplated hereby, each in form and substance reasonably
satisfactory to Chongqing. Shens shall have received the consent, approval, authorization, permit, order, filing, registration or qualification
of or with the Governmental Entities of the PRC with competent jurisdictions in connection with the execution and delivery of this Agreement
or the consummation of the transactions contemplated hereby.


 


(e) Actions
and Proceedings. No proceeding shall be pending or threatened before any Governmental Entity that may result in the restraint or prohibition
of the consummation of the transactions contemplated by this Agreement, and no court of competent jurisdiction shall have issued an injunction
with respect to the consummation of the transactions contemplated by this Agreement that shall not be stayed or dissolved at the time
of the Closing.


 


(f) No
Claim Regarding the Closing Stock Payment. There shall not have been made or threatened by any Person any claim asserting that such Person
(a) is the holder or the beneficial owner of, or has the right to acquire or to obtain beneficial ownership of, or any other voting, equity,
or ownership interest in the Closing Stock Payment, or (b) is entitled to all or any portion of the Closing Stock Payment.


 






    7


     


    

 


ARTICLE VII

Miscellaneous


 


Section
7.01 Notices. All notices, claims, demands and other communications hereunder shall be in writing and shall be deemed
to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by
a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours
of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid,
if sent to the respective parties at the following
addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 7.01):


 


	If to Chongqing or any Hospital before Closing:	
    Name: BIMI HOSPITAL MANAGEMENT (CHONGQING) CO., LTD.

    Address: 9th Floor, Building 2, Chongqing Corporation Avenue,

    Yuzhong District, Chongqing, P. R. C.

    Attention: Mr. XiaoPing Wang

    Telephone: (0086)13883563188

    Email: 7910595@qq.com

	 	 
	
    If to Shens or any Hospital after Closing:
	
    Name: YUNAN YUXI MINKANG HOSPITAL CO., LTD.

    Address: Yanchangxian, Dongfeng Beilu, Hongta District,

 Yuxi City,
    Yunan Province, PRC

    Attention: Mr. Jiangjin Shen

    Telephone: (0086)15121312777

    Email: 969802689@qq.com



 


Section
7.02 Interpretation; Headings. This Agreement shall be construed without
regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument
to be drafted. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.


 


Section 7.03 Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other term or provision of this Agreement.


 


Section 7.04 Entire
Agreement. This Agreement constitutes the entire agreement of the parties to this Agreement with respect to the subject matter
contained herein, and supersedes all prior and contemporaneous representations, warranties, understandings and agreements, both written
and oral, with respect to such subject matter. In the event of any inconsistency between the statements in the body of this Agreement,
the statements in the body of this Agreement will control.


 


Section 7.05 Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent of the
other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any of its
obligations hereunder.


 






    8


     


    

 


Section 7.06 Amendment
and Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by
each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and
signed by the party so waiving. No failure to exercise or delay in exercising, any right or remedy arising from this Agreement shall operate
or be construed as a waiver thereof. No single or partial exercise of any right or remedy hereunder shall preclude any other or further
exercise thereof or the exercise of any other right or remedy.


 


Section
7.07 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.


 


(a) All
matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal laws of the State
of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction).
Any Action arising out of or related to this Agreement or the transactions contemplated hereby may be instituted in the federal courts
of the United States of America or the courts of the State of New York in each case located in the city of New York and county of New
York, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such Action.


 


(b) EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING ANY EXHIBITS AND SCHEDULES ATTACHED
TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF THE OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL
ACTION; (II) EACH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH PARTY MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY;
AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.


 


Section 7.08 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to
be one and the same agreement. A signed copy of this Agreement delivered by email or other means of electronic transmission shall be deemed
to have the same legal effect as delivery of an original signed copy of this Agreement.


 


Section 7.09 Representation by Counsel.
Each Party has been represented or has had the opportunity to be represented by legal counsel of their own choice.


 


(Signature Pages Follow)


 




    9


     


    

 


IN WITNESS WHEREOF, the parties
have executed this Agreement as of the date first above written.


 


	CHONGQING:
	 	 	 
	BIMI PHARMACEUTICAL (CHONGQING) CO., LTD.
	 	 	 
	By: 	/s/ Xiaoping Wang	 
	Name: 	Xiaoping Wang	 
	Title: 	Legal Representative	 
	 	 	 
	BIMI HOspital management (Chongqing) co., ltd.
	 	 	 
	By:	/s/ Wangjin Wu	 
	Name: 	Wangjin Wu	 
	Title:	Legal Representative	 
	 	 	 
	PARENT:
	 	 	 
	BIMI INTERNATIONAL MEDICAL INC.
	 	 	 
	By:	/s/ Tiewei Song	 
	Name: 	Tiewei Song	 
	Title: 	CEO	 
	 	 	 
	SHENS:
	 	 	 
	JIANGJIN SHEN 
	 	 	 
	By:	/s/ Jiangjin Shen	 
	Name:	Jiangjin Shen	 





	Address:	No. 214-1, Xihuang Village, Donghai County, Chengxiang District, Putian City,
	 	Fujian Province, PRC


 


	ZHIWEI SHEN
	 	 	 
	By:	/s/ Zhiwei Shen	 
	Name: 	Zhiwei Shen	 





	Address: 	No. 214, Xihuang Village, Donghai County, Chengxiang District, Putian City,
	 	Fujian Province, PRC


 


	HOSPITALS:
	 	 	 
	WUZHOU QIANGSHENG HOSPITAL CO., LTD.
	 	 	 
	By:	/s/ Zhiwei Shen	 
	Name:	Zhiwei Shen	 
	Title:	Chairman of the Board	 
	 	 	 
	SUZHOU EURASIA HOSPITAL CO., LTD. 
	 	 	 
	By: 	/s/ Jiangjin Shen	 
	Name: 	Jiangjin Shen	 
	Title:	Chairman of the Board	 
	 	 	 
	YUNAN YUXI MINKANG HOSPITAL CO., LTD.
	 	 	 
	By:  	 	 
	Name:  	Jiangjin Shen	 
	Title:	Chairman of the Board	 


 



     


     


    

 


Annex I – Definitions


 


“Affiliate”
means, with respect to any Person (i) a director, officer, stockholder or member of that Person, (ii) a spouse, parent, sibling
or descendant of that Person (or spouse, parent, sibling or descendant of any director or officer of that Person), and (iii) any
other Person that, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control
with, that Person.


 


“Damages”
means any losses, costs, damages, liabilities or expenses actually incurred, including, without limitation, reasonable attorneys' fees
or other legal expenses or expert fees.


 


“Governmental Entity”
means any federal, state, municipal, local, or foreign government and any court, self-regulated organization, tribunal, arbitral body,
administrative agency, department, board, subdivision, entity, commission or other governmental, quasi-governmental or regulatory authority,
reporting agency, whether domestic, foreign or super-national.


 


“Indemnifying Party”
means either Xiang or BIMI when indemnification is sought from such Party pursuant to Section 5.8, and "Indemnified Party"
means Xiang, BIMI or any Related Party of Xiang or BIMI when such Person is seeking indemnification from an Indemnifying Party pursuant
to Section 5.8.


 


“Lien” means
any mortgage, pledge, lien, encumbrance, claim, charge, security interest, option, warrant, right of first refusal, hypothecation, security
agreement or other encumbrance or restriction on the use or transfer of any assets.


 


“Person”
means an individual, partnership, corporation, limited liability company, limited liability partnership, trust, unincorporated association,
joint venture or other entity.


 


“PRC” means
the People's Republic of China, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan.


 


“Related Party”
means with respect to a Person, any or its Affiliates, or any of its or its Affiliate’s shareholders, directors, officers, managers,
members, partners, trustees, employees, contractors, subcontractors, attorneys, intermediaries, brokers or other agents, or representatives
or any heir, personal representative, successor, or assign of any of the foregoing.


 


“Securities Act”
means the Securities Act of 1933, as amended.


 









     


     


    

 





 



 


Exhibit A Transfer Agent
Instructions


 


(BIMI Company Letterhead)


 





 



 


Date


 


American Stock Transfer & Trust Company, LLC


Attention Darren Larson 


6201 15th Avenue


Brooklyn, NY 11219


By email: Darren.Larson@equiniti.com


 


Re: BIMI International Medical Inc. (“BIMI”) 


 


Dear Mr. Larson:


 


I am writing to you on behalf our company BIMI
International Medical Inc. (“BIMI”). We have entered into agreements with certain of our shareholders whereby they have agreed
to return to us an aggregate of 80,000 shares of our Common Stock. In your capacity as transfer agent for BIMI, you hereby authorized
and instructed to cancel and retire the 80,000 shares as detailed in Schedule I hereto.


 


BIMI hereby agrees to indemnify and hold harmless
American Stock Transfer & Trust Company, LLC, a New York limited liability trust company (“AST”), its affiliates, successors
and assigns from and against any and all claims, damages, liabilities or losses to which they may be subject as a result of accepting
this letter in connection with cancelation of the 80,000 shares of BIMI currently held in in book-entry positions with AST.


 


Thank you for your assistance and please let me
know if you have any questions.


 


Sincerely,


 


Name: Tiewei Song


Title: CEO


 









     


     


    

 





 



 


 


Schedule I