Exhibit 10.16


 


Jinjiang Qinghua Business Hotel Building
Transfer Contract


(English Translation)


 


Transferee (Party A) : Pingtan Comprehensive
Experimental Area E Home Service Co., LTD.


Authorized Representative: Xie Wenshan


Id number:


 


Transferor (Party B): Jinjiang Qingyang
Qinghua Business Hotel


Authorized Representative: Zhuang Mingliang


Id number:


 


Whereas, Party A and Party B have reached
an contract on the transfer of the lease right of the entire building (1-11 Floors) of Jinjiang Qinghua business hotel (hereinafter
referred to as the subject matter) held by Party B, located at the side of emerald plaza at the intersection of No. 662 Quanan
middle road and Huaguang road, Jinjiang city, Quanzhou city, Fujian province.


 


I. Subject Transferred


 


Jinjiang Qinghua business hotel is located
in the whole building, 1-11 floor of the operation/lease right.


1 / f to 11 / f of the whole building where
Jinjiang Qinghua business hotel is located:


 


1. The property area of the building is
5476.9 square meters, and the usable area is 6,600 square meters;


 


2. Business license, special industry license,
organization code certificate, health license, tax registration certificate, fire safety inspection certificate, etc.;


 


3. Lease contract/contract/deposit: convenience
store on the 1st floor, clothing store on the 1st floor, children’s photography on the 2nd floor, foot bath for health maintenance
on the 10th floor;


 


4. The building, outside the building,
affiliated equipment, facilities, etc.: power distribution room, engine room, central air-conditioning system, central hot water
system, elevator, etc.;


 


5. The transferor shall ensure that the
lease term shall be at least 10 years from the date of the transferee’s takeover;


 


6. The transferor shall ensure that the
property right of the building is clear and that the building or the transferor has no corresponding claims or debts;


 


7. The transferor shall ensure that the
transferor and the building have no external guarantee, pledge or other circumstances and corresponding disputes. If there are
any creditor’s rights or debts, the transferor shall bear and be responsible for them;


 


8. The transferor’s employees shall arrange
their stay or leave themselves after the transfer;


 


9. After the assignment of the transferor,
the transferee shall comply with the permitted business scope, business license, tax registration certificate, fire control safety
inspection certificate, the certificate for putting into use in public gathering places and the certificate for fire control safety
inspection before business operation stipulated by national laws, regulations and legal operation; Otherwise, the consequences
caused thereby shall be fully borne by the transferee;


 


10. The transferee shall pay various taxes
and water and electricity fees in accordance with national laws and regulations, and the transferor shall assist the transferee
in properly handling and paying other government, village collective and business department fees.


 






     


     


    

 


II. Transfer fee and Payment


 


The overall cost of the operation/lease
transfer of the whole building of Jinjiang Qinghua business hotel is four million(4,000,000) RMB in a lump sum, and Party B shall
pay nine hundred and forty-five thousand(945,000) RMB only for the overdue rent, which amounts to four million nine hundred and
forty-five thousand(4,945,000) RMB total.


 


Payment by installment: After signing the
contract, count items in and outside the building that belong to the building and equipment inventory, and modify the property
leasing contract with this building’s owner or execute a new leasing contract through a third-party contract approved by
both parties, to prove that, by binding legal provisions, the operation/lease rights are transferred to Party A, after which within
30 working days the first payment of five thousand(5,000) RMB shall be made. For the rest three and a half million (3,500,000)
RMB, Party B will change name in relevant certificates, licenses to Party A, after which Party A shall pay the rest within 50 days;
For rent that Party B has paid in advance, Party A shall pay off such amount within 30 working days of the transfer of the operation/lease
right of the building to Party A.


 


III. Transfer Process, Delivery and
Operation


 


Counting the inventory of the items in
the transfer shall be completed within 10 days after the signing of the contract;


 


Transfer of all the subject information,
contract, contract handover/change etc. shall be completed within 10 working days. Representatives of each Party shall start the
handover work on December 20, 2018; Meanwhile, Party A shall also take over the ownership of the subject matter from January 1,
2019.


 


All the factors and circumstances affecting
the subsequent operation before and after the transfer of the transferor shall be handled in accordance with the requirements of
the transferee, and shall not affect the legal and normal operation of the transferee due to the change of the competent government
departments of industry and commerce, taxation, fire control and public security.


 


IV. Rights and Obligations of the Transferee
and the Transferor


 


1) The transferor undertakes that during
the period from the effective date of this transfer to the completion of the delivery, the transferor shall ensure that no third
Party shall in any way affect the transfer or the subsequent orderly and normal operation.


 


2) The assignor commitment that the assignor
shall timely and fully to the subject matter of the licensee shall provide the required information and data, especially the subject
matter is not yet open to the public the related information and data, for the assignee to more fully understand the truth of the
subject matter, and shall actively cooperate with the transferee and the transferee the appointed company to receive the subject
matter, delivery, etc.


 


3) The transferor warrants that the subject
matter is established and validly existing in accordance with Chinese laws and that it has obtained valid government approvals,
certificates, qualifications and permits required by its business license or the transferor’s commitment to normal and lawful operation.
After the transfer, Party B shall assist Party A to complete the alteration procedures.


 


4) After Party B completes the relevant
procedures to change the name to Party A or the name of Party A’s designee and the handover of relevant documents and property
of the subject matter is completed, the creditor’s rights and debts arising therefrom have nothing to do with Party B.


 






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5) The transferor undertakes to change
the relevant alteration procedures of the owner of the subject matter of the transferee before the transfer, sign a third-Party
contract and maintain the normal operation of the transferee.


 


6) Both parties have the right to enter
into and perform this contract, and warrant that this contract shall be legally binding upon both parties. Both parties have obtained
all necessary authorization to enter into and perform this contract, and the representatives of both parties who have signed this
contract have been authorized to sign this contract and shall be legally binding.


 


7) The transferee shall actively and strictly
follow the content agreed in this transfer contract, abide by the spirit of the contract, and jointly safeguard the legal rights
of both parties.


 


V. Liability for Breach of the Contract


 


1) If the transferor can’t perform
this transfer contract or the transferor breaches the contract, the transferor shall compensate the transferee RMB 500,000.


 


2) If the transferee can’t perform
this transfer contract or the transferee breaches the contract, the transferee shall compensate the transferor RMB 500,000.


 


IV. Effectiveness, Modification or Termination



 


1) All aspects of this contract shall be
interpreted and bound by laws. Any dispute or dispute arising out of this contract may be settled by filing a lawsuit in the people’s
court of the place where the transferee is located.


 


2) This contract is made in duplicate,
with each Party holding one copy. Both copies have the same legal effect.


 


Transferee (Party A) : Pingtan Comprehensive
Experimental Area E-home Service Co., LTD.


Authorized Representative: Xie Wenshan


Date: December 19, 2018


Place of signing: Jinjiang


 


Transferor (Party B) : Jinjiang Qingyang
Qinghua Business Hotel


Authorized Representative: Zhuang Mingliang


Id number:





 






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Jinjiang Qinghua Business Hotel Building
Transfer Supplementary Contract


 


Transferee (Party A): Pingtan Comprehensive
Experimental Area E-home Service Co., Ltd.


Transferor (Party B): Jinjiang Qingyang
Qinghua Business Hotel


 


Party A and Party B have signed the transfer
contract of Huaxi pavilion (Qinghua business hotel building) located in the northwest of Qinghua square in south China. With the
assistance of the parties, the following supplementary contract is reached.


 


1. Party A shall pay RMB 1,440,000 on January
16, 2019, which is one million four hundred and forty thousand RMB (including transfer fee fifty thousand(500,000) RMB and pre-paid
rent fee nine hundred and forty five thousand(945,000) RMB).


 


2. The deposit and rent of the leased subject
matter received by Party B shall be deducted from the transfer fee of Party A, and the total amount payable shall be two hundred
and eighty thousand (280,000) RMB. Party A shall pay Party B the remaining transfer fee of three million and two hundred and twenty
thousand (3,220,000) RMB within 50 days after the transfer of the relevant documents of the subject matter and completion of other
related procedures.


 


3. If Party A fails to pay the payment
within the aforesaid time, Party A shall be deemed to have breached the contract, and Party B shall have the right to terminate
the contract. And party A shall compensate party B five hundred thousand (500,000) RMB.


 


4. If Party B breaches the contract, Party
B shall return Party A five hundred thousand (500,000) RMB, and pay another penalty of five hundred thousand (500,000) RMB.


 


5. After this supplementary contract coming
into force, Party A shall enter the site and hand over the management of Qinghua business hotel building, and Qinghua business
hotel (5-9 floors) shall be renovated and put into operation. Party B shall clear and dismiss the existing staff of the hotel.


 


6. In case of any inconsistency between
this supplementary contract and the original contract, the supplementary contract shall prevail.


 


7. This contract is made in duplicate,
with each Party holding one copy.


 


	
        Party A: Pingtan Comprehensive Experimental
        Area E-home Service Co., Ltd.

        Signature: (Seal)

        Date:

         
	
        Party B: Jinjiang Qingyang Qinghua Business
        Hotel

        Signature: (Seal)

        Date:






 






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Supplementary Contract 


to the Jinjiang Qinghua Business Hotel
Building Transfer Contract


 


Transferee (Party A): Pingtan Comprehensive
Experimental Area E-home Service Co., LTD.,


Transferor (Party B): Jinjiang Qingyang
Qinghua Business Hotel


 


All terms in this contract, unless otherwise
stated, shall have the same definitions as those in the Jinjiang Qinghua business hotel building transfer contract signed by the
parties on December 19, 2018. Whereas: Party A and Party B jointly signed the transfer contract of Jinjiang Qinghua business hotel
building on December 19, 2018. Based on the principle of mutual benefit and through friendly negotiation, both parties hereby enter
into the following supplementary contract on matters not covered in the transfer contract of Jinjiang Qinghua business hotel building.
The supplementary content is: Lease term: from January 1, 2019 to September 30, 2028. Rental fee: From January 1, 2019 to September
30, 2019, the rental fee is one hundred and five thousand (105,000) RMB per month, totaling nine hundred and forty five thousand
RMB (945,000), and shall be paid in January 2019; From October 1, 2019 to September 30, 2020, the rental fee is one hundred and
five thousand (105,000) RMB per month, totaling one million two hundred sixty thousand RMB (1,260,000), and shall be paid in October
2019; From October 1, 2020 to September 30, 2028, the rental fee is one hundred and fifteen thousand five hundred (115,500) RMB
per month. The total annual rental fee is one million and three hundred and eighty-six thousand RMB (1,386,000) and shall be paid
in a lump sum in October of each year.


 


	
        Party A: Pingtan Comprehensive Experimental
        Area E-home Service Co., Ltd.

        Signature: (Seal)

        Date: 
	
        Party B: Jinjiang Qingyang Qinghua Business
        Hotel

        Signature: (Seal)

        Date:



 


 


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