EXHIBIT 4.39


 


Shares Pledge Agreement


 


The Shares Pledge Agreement (hereinafter
referred to as “the Agreement”) is concluded and signed by and among the following Parties on August 31st,
2013 in Shanghai, the People’s Republic of China (“China”):


 


		(1)	ZHANG Qing, a Chinese citizen with the ID card No.: ################## and the domicile: *;



 


		(2)	LV Ying, a Chinese citizen with the ID card No.: ################## and the domicile: *;



 


(ZHANG Qing and LV Ying are hereinafter
individually referred to as a “Pledgor” and collectively referred to as “the Pledgors”)


 


		(3)	Shengqu Information Technology (Shanghai) Co., Ltd. (hereinafter referred to as “the
Pledgee”), an enterprise legal person duly incorporated and existing in accordance with the Chinese law, with the registered
address of Building 1, No.690 Bibo Road, Zhangjiang Hi-tech Park, Shanghai; and



 


		(4)	Shanghai Shengzhan Networking Technology Co., Ltd. (hereinafter referred to as “the Company”),
an enterprise legal person duly incorporated and existing in accordance with the Chinese law, with the registered address of Room
103, Building 2, No.733 Sunhuan Road, Pudong New Area, Shanghai



 


(In the Agreement, the above-mentioned
parties are individually referred to as a “Party” and collectively referred to as the “Parties”.)


 


Whereas:


 


		(1)	The Pledgors are the registered shareholders of the Company, legitimately holding 100% shares of
the Company (hereinafter referred to as “the Shares of the Company”); on the signature date of the Agreement,
the contribution amounts to the registered capital of the Company and the shareholding proportions of the Pledgors are shown in
Schedule I to the Agreement;



 


		(2)	In accordance with the provisions of the Exclusive Shares Transfer Option Agreement concluded
and signed by and among the Pledgors, the Pledgee and the Company on August 31st, 2013 (hereinafter referred to as “the
Shares Transfer Option Agreement”), the Pledgors shall, if permitted by the Chinese Law, transfer all or part of
the Shares held by them to the Pledgee and/or any other entity or individual designated by the Pledgee in accordance with the requirements
of the Pledgee;



 


		(3)	In accordance with the provisions of the Entrustment Agreement on the Voting Rights of Shareholders
concluded and signed by and among the Pledgee, the Company and the Pledgors on August 31st, 2013 (hereinafter referred
to as “the Entrustment Agreement on the Voting Rights”), the Pledgors have already fully entrusted the
persons designated by the Pledgee to exercise all of the voting rights enjoyed by the Pledgors as the shareholders of the Company;



 




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		(4)	In accordance with the provisions of the Exclusive Consultation and Services Agreement concluded
and signed by and between the Pledgee and the Company on August 31st, 2013 (hereinafter referred to as “the
Services Agreement”), the Company has engaged the Pledgee to provide relevant technical consultation and services
exclusively and it will pay corresponding service fees to the Pledgee for such technical consultation and services.



 


		(5)	In accordance with the provisions of the Loan Agreement concluded and signed by and among
the Pledgors and the Pledgee on August 31st, 2013 (hereinafter referred to as “the Loan Agreement”),
the Pledgee has provided the Pledgors with a loan of RMB 10 Million Yuan; and



 


		(6)	As a guarantee for the Pledgors’ and company’s performance of their Contractual Obligations
(as defined below) and their repayment of the Secured Debts (as defined below), the Pledgors are willing to pledge all the Shares
of the Company held by them to the Pledgee and to grant the Pledgee the primary right to be repaid.



 


NOW THEREFORE, through consultations,
the Parties hereby reach the agreement as follows:


 


		1.	Definitions



 


		1.1	Unless otherwise required by the context, in the Agreement, the following terms shall have the
following definitions:



 


“Contractual Obligations”: refers
to all contractual obligations assumed by the Pledgors under the Services Agreement, the Shares Transfer Option Agreement, the
Entrustment Agreement on the Voting Rights, the Loan Agreement and the Agreement.


 


“Secured Debts”:
refers to all direct, indirect, derivative loss and the loss of anticipated interests suffered by the Pledgee due to any Default
Event (as defined below) of the Pledgors and/or the Company, and all expenses incurred by the Pledgee for the purpose of enforcing
the Pledgors and/or the Company to perform their Contractual Obligations.


 


“Default Events”: refers to breach
of any Contractual Obligation by the Pledgors or the company under the Services Agreement, the Entrustment Agreement on the Voting
Rights, the Shares Transfer Option Agreement, the Loan Agreement and/or the Agreement.


 


“Pledged Property”: refers to all
Shares of the Company legitimately held by the Pledgors when the Agreement becomes effective and pledged to the Pledgee in accordance
with the Agreement as a guarantee for them and the Company to perform the Contractual Obligations and the increased capital contributions
and dividends in accordance with Article 2.6 and Article 2.7 hereof.


 




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“Chinese Law”: refers to all valid
laws, administrative regulations, local regulations, judicial interpretations and other nominative documents with binding forces
in the People’s Republic of China.


 


		1.2	Reference to any Chinese Law hereunder shall be deemed: (1) to include a reference to that Chinese
Law as amended, modified, supplemented and re-enacted from time to time (whether before or after the date of the Agreement); and
(2) to include a reference to any subordinate decision, notice or rule made under or in accordance with the relevant Chinese Law.



 


		1.3	Unless otherwise stated in the context of the Agreement, references to articles, clauses, items
and paragraphs are to the corresponding part of the Agreement.



 


		2.	Shares Pledge



 


		2.1	The Pledgors hereby agree to pledge the Pledged Property which they legitimately hold and have
the right to dispose of to the Pledgee in accordance with the Agreement, as a guarantee for their performance of the Contractual
Obligations and repayment of the Secured Debts. The Company hereby agrees that the Pledgors pledge the Pledged Property to the
Pledgee in accordance with the Agreement.



 


		2.2	The Pledgors shall record the shares pledge arrangement hereunder (“Shares Pledge”)
in the Register of Shareholders on the signature date of the Agreement, provide the Pledgee with the record certificate in a form
satisfactory to the Pledgee and also provide the Pledgee with the certificate of industrial and commercial registration with respect
to the Shares Pledge within 30 days after the signature date of the Agreement or within any other time limit agreed upon by the
Parties.



 


		2.3	During the valid term of the Agreement, unless there is direct causation between any willful conduct
or gross negligence of the Pledgee and decrease in the value of the Pledged Property, the Pledgee shall not be held responsible
for any decrease in the value of the Pledge Shares, and the Pledgors have no right to file a claim in any form against or put forward
any requirement to the Pledgee.



 


		2.4	Subject to Clause 2.3, if there is any possibility that the value of the Pledged Property may obviously
decrease, which is sufficient to impair the rights of the Pledgee, the Pledgee may ask the Pledgors to provide corresponding guarantees
or sell by auction or sell off the Pledged Property at any time on behalf of the Pledgors, and consult with the Pledgors to utilize
the fund receiving from the auction or sale to pay off the Secured Debts in advance or to deposit such fund in the notary organ
at the place of the Pledgee (all expenses arising therefrom shall be borne by the Pledgors).



 


		2.5	The Pledgee enjoys the primary pledge right with respect to the Pledged Property. Upon occurrence
of any Default Event, the Pledgee shall be entitled to dispose of the Pledged Property in accordance with the methods stipulated
in Article 4 hereof



 




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		2.6	With prior consent of the Pledgee, the Pledgors may increase the capital of the Company. The amount
of contribution increased by the Pledgors due to the capital increase of the Company also constitutes a part of the Pledged Property.



 


		2.7	Only with prior consent of the Pledgee may the Pledgors receive dividends or bonus from the Pledged
Property. The dividends or bonus received by the Pledgors from the Pledged Property shall also serve as a part of the Pledged Property
which shall be deposited in the account designated by the Pledgee, supervised by the Pledgee and firstly utilized to pay off the
Secured Debts.



 


		2.8	The Pledgee shall be entitled to dispose of any Pledged Property owned by the Pledgors in accordance
with the Agreement upon occurrence of any Default Event.



 


		3.	Relief of the Shares Pledge



 


After the Pledgors and the Company fully
and completely perform all of their Contractual Obligations and pay off all of their Secured Debts, the Pledgee shall, as required
by the Pledgors, relieve the Shares Pledge hereunder and cooperate with the Pledgors to handle the cancellation of shares pledge
registrations in the Register of Shareholders and the relief of the pledge registration. The reasonable expenses arising from the
relief of the Shares Pledge shall be borne by the Pledgee.


 


		4.	Disposal of the Pledged Property



 


		4.1	The Pledgors, the Company and the Pledgee hereby agree that, if any Default Event occurs, the Pledgee
shall be entitled to, after giving written notices to the Pledgors, exercise any and all rights, remedies and powers enjoyed by
it in accordance with the Chinese Law, the Transaction Agreements and the provisions of the Agreement, including (without limitation)
sale by auction or disposal of the Pledged Property so as to be paid in priority. The Pledgee shall not be held responsible for
any loss caused by its reasonable exercise of such rights and powers.



 


		4.2	The Pledgee shall be entitled to appoint its lawyers or other agents in writing to exercise any
and all rights mentioned above on its behalf, and the Pledgors or the Company may not raise any objection in this respect.



 


		4.3	The reasonable expenses incurred by the Pledgee in the course of exercising any and all rights
mentioned above shall be borne by the Pledgors and the Pledgee shall be entitled to deduct the same from the fund that it obtains
from exercising such rights.



 


		4.4	The fund obtained by the Pledgee from exercising the above-mentioned rights shall be handled in
the following orders:



 


Firstly, it shall be utilized
to pay all expenses incurred in the disposal of the Pledged Property and the exercise of its rights by the Pledgee (including any
remuneration payable to its lawyers and agents);


 


Secondly, it shall be utilized
to pay the taxes and dues payable for the disposal of the Pledged Property; and


 




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Thirdly, it shall be utilized
to repay the Secured Debts to the Pledgee.


 


If there is any balance after
deducting the above-mentioned amounts, the Pledgee shall return the balance to the Pledgors or any other person who is entitled
to obtain such balance in accordance with relevant laws and regulations or deposit it in the notary organ at the place of the Pledgee
(any and all expenses arising therefrom shall be borne by the Pledgors).


 


		4.5	The Pledgee shall be entitled to choose either meanwhile or successively to exercise its pledge
right with respect to the Shares of the Company held by each Pledgor and/or any other remedy. The Pledgee shall not be required
to seek for other remedies before exercising the right to sell by auction or to sell off the Pledged Property hereunder. Neither
the Pledgors nor the Company shall be entitled to raise any objection concerning whether the Pledgee exercises part of the pledge
right or the sequence of exercising the pledge right.



 


		5.	Expenses and Costs



 


Any actual cost related to the setting
of the Shares Pledge hereunder, including (without limitation) stamp duty, any other tax and all legal fees, shall be borne by
each Party respectively.


 


		6.	Continuity and Non-waiver



 


The Shares Pledge hereunder is a continuous
guarantee, which will remain in force until all Contractual Obligations are fully performed or all Secured Debts are fully repaid.
No waiver or grace granted by the Pledgee to the Pledgors with respect to any default and no delay of the Pledgee in exercising
any right enjoyed by it under the Transaction Agreements and the Agreement, shall affect the right of the Pledgee at any time afterwards
in accordance with the Agreement, the Chinese Law and the Transaction Agreements to require the Pledgors to strictly implement
the Transaction Agreements and the Agreement or the rights enjoyed by the Pledgee due to any breach of the Transaction Agreements
and/or the Agreement by the Pledgors afterwards.


 


		7.	Representations and Warranties of the Pledgors



 


The Pledgors hereby severally and jointly
represent and warrant to the Pledgee as follows:


 


		7.1	The Pledgors are both Chinese citizens and/or enterprise legal persons with full capacity for civil
conducts; they have full and independent legal status and legal capacity; they have obtained proper authorizations to execute,
to deliver and to perform the Agreement; and they may constitute subjects of litigation independently.



 


		7.2	The Company whose shares are held by them is a limited liability company duly incorporated and
legally existing under the Chinese Law and has qualification of being a legal person. The Company has full and independent legal
status and legal capacity to execute, to deliver and to perform the Agreement; and it may constitute a subject of litigation independently.
The Company has full powers and authorizations to sign and to deliver the Agreement and any other document related to the transaction
hereunder and to be signed by it, and the Company has full powers and authorizations to complete the transaction contemplated under
the Agreement.



 




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		7.3	All reports, documents and information about the Pledgors or on all issues required by the Agreement
provided by the Pledgors to the Pledgee before the Agreement becomes effective are true and accurate in all material aspects when
the Agreement becomes effective.



 


		7.4	All reports, documents and information about the Pledgors or on all issues required by the Agreement
provided by the Pledgors to the Pledgee after the Agreement becomes effective are true and accurate in all material aspects at
the time of provision.



 


		7.5	When the Agreement becomes effective, the Pledgors are sole legitimate owners of the Pledged Property
and there is no existing dispute over the ownership of the Pledged Property. The Pledgors have the right to dispose of the Pledged
Property and any part thereof.



 


		7.6	Apart from the security interests imposed on the Pledged Property in accordance with the Agreement
and the rights established under the Transaction Agreements, there is no other security interests or third-party interests.



 


		7.7	The Pledged Property may be legitimately pledged and transferred, and the Pledgors have sufficient
rights and powers to pledge the Pledged Property to the Pledgee in accordance with the provisions of the Agreement.



 


		7.8	Once duly signed by the Pledgors, the Agreement shall constitute legal, valid and binding obligations
of the Pledgors.



 


		7.9	Any consent, approval, waiver, authorization of any third party or any permission, approval, waiver
of any government authority or any registration or filing formalities in any government authority (if required by the law) have
been obtained or accomplished for the execution the Agreement and the performance of Shares Pledge hereunder, and will remain in
full effect within the valid term of the Agreement.



 


		7.10	The signature and performance of the Agreement by the Pledgors will not violate or contradict with
any applicable law, any agreement to which they are parties or any agreement, any court judgment, any arbitral award or any decision
of any administrative body binding upon their assets.



 


		7.11	The pledge under the Agreement constitutes a security interest over the Pledged Property with the
first priority.



 


		7.12	All taxes and expenses payable for the acquisition of the Pledged Property shall be paid by the
Pledgors in full.



 




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		7.13	There is no pending and to the knowledge of the Pledgors no threatened litigation, legal proceeding
or request against the Pledgors or their properties or the Pledged Property in any court or arbitral tribunal; meanwhile, there
is no pending and to the knowledge of the Pledgors no threatened litigation, legal proceeding or request against the Pledgors or
their properties or the Pledged Property in any governmental agency or administrative body, which will have material or adverse
effect on the economic situations of the Pledgors or their capabilities of performing their obligations and guarantee liabilities.



 


		7.14	The Pledgors hereby promise to the Pledgee that the above-mentioned representations and warranties
are true and accurate under any circumstance before the Contractual Obligations are fully performed or the Secured Debts are fully
repaid, and these representations and warranties will be abided by in a comprehensive way.



 


		8.	Representations and Warranties of the Company



 


The Company hereby represents and warrants
to the Pledgee as follows:


 


		8.1	The Company is a limited liability company duly incorporated and legally existing under the Chinese
Law; it has qualification of being an independent legal person; it has full and independent legal status and legal capacity to
execute, to deliver and to perform the Agreement; and it may constitute a subject of litigation independently.



 


		8.2	All reports, documents and information about the Pledged Property or on all issues required by
the Agreement provided by the Company to the Pledgee before the Agreement becomes effective are true and accurate in all material
aspects when the Agreement becomes effective.



 


		8.3	All reports, documents and information about the Pledged Property or on all issues required by
the Agreement provided by the Company to the Pledgee after the Agreement becomes effective are true and accurate in all material
aspects at the time of provision.



 


		8.4	The Company has full powers and authorizations to sign and to deliver the Agreement and any other
document related to the transaction hereunder and to be signed by it, and the Company has full powers and authorizations to complete
the transaction contemplated under the Agreement.



 


		8.5	There is no pending and to the knowledge of the Company no threatened litigation, legal proceeding
or request against the Company or its assets (including without limitation the Pledged Property) in any court or arbitral tribunal;
meanwhile, there is no pending and to the knowledge of the Company no threatened litigation, legal proceeding or request against
the Company or its assets (including without limitation the Pledged Property) in any governmental agency or administrative body,
which will have material or adverse effect on the economic situations of the Company or its capabilities of performing the obligations
and guarantee liabilities.



 


		8.6	The Company hereby agrees to assume joint liability to the Pledgee for the representations and
warranties given by the Pledgors in Article 7.5, Article 7.6, Article 7.7, Article 7.9 and Article 7.11 hereof.



 


		8.7	The Company hereby makes promise to the Pledgee that the above-mentioned representations and warranties
are true and accurate in any case and at any time before the Contractual Obligations are fully performed or the Secured Debts are
fully repaid, and these representations and warranties will be abided by in a comprehensive way.



 




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		9.	Promises of the Pledgors



 


The Pledgors hereby severally and jointly
make promises to the Pledgee as follows:


 


		9.1	Without prior written consent of the Pledgee, the Pledgors may not impose or allow to be imposed
any new pledge or any other security interest on the Pledged Property, and such pledge or any other security interest over all
or part of the Pledged Property without aforesaid prior written consent shall be null and void.



 


		9.2	Without provision of a prior written notice to the Pledgee and acquisition of prior written consent
from the Pledgee, the Pledgors may not transfer the Pledged Property; otherwise, the transfer of the Pledged Property by the Pledgors
shall be null and void. Upon prior written consent of Pledgee, the fund receiving from transfer of the Pledged Property by the
Pledgors shall be firstly utilized to repay the Secured Debts to the Pledgee or be deposited in the third party agreed by the Pledgee.



 


		9.3	Upon occurrence of any litigation, arbitration or any other request which may have adverse impact
on the Pledgors, on the interests of the Pledgee or Pledgor under the Transaction Agreements and the Agreement or on the Pledged
Property, the Pledgors promise to notify the Pledgee in writing as soon as possible and in a timely manner, and in accordance with
reasonable requirements of the Pledgee, to take all necessary measures to ensure the pledge rights and interests of the Pledgee
with respect to the Pledged Property.



 


		9.4	The Pledgors may not carry out or allow to be carried out any act or omission which may have adverse
effect on the interests of the Pledgee under the Transaction Agreement and the Agreement or on the Pledged Property.



 


		9.5	The Pledgors promise to take all necessary measures and to sign all necessary documents (including
without limitation any supplementary agreement to the Agreement) to ensure the pledge rights and interests of the Pledgee with
respect to the Pledged Property as well as its exercise and realization thereof, in accordance with reasonable requirements of
the Pledgee.



 


		9.6	If any exercise of the pledge right hereunder gives rise to any transfer of any Pledged Property,
the Pledgors promise to take all necessary measures to realize such transfer.



 


		9.7	The Pledgors promise to pass resolutions of the shareholder meetings to replace the legal representative,
managing director and supervisors of the Company and to handle relevant registration and filing formalities in the industrial and
commercial authority or any other government department within 30 days after the signature date of the Agreement or any other time
limit agreed upon by the Parties.



 




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		10.	Promises of the Company



 


		10.1	If the signature and performance of the Agreement and the Shares Pledge hereunder requires consent,
approval, waiver, authorization of any third party or permission, approval, waiver of any government authority, or completion of
any registration or filing formalities in any government authority (if required by law), the Company will use its best endeavors
to assist in obtaining and keeping the same in full effect within the valid term of the Agreement.



 


		10.2	Without prior written consent of the Pledgee, the Company will not help or allow the Pledgors to
impose any new pledge or any other security interest on the Pledged Property.



 


		10.3	Without prior written consent of the Pledgee, the Company will not help or allow the Pledgors to
transfer the Pledged Property.



 


		10.4	Upon occurrence of any litigation, arbitration or any other request which may have adverse impact
on the Company, on the Pledged Property (i.e., the Shares of the Company) or on the interests of the Pledgee under the Transaction
Agreements and the Agreement, the Company promises to notify the Pledgee in writing as soon as possible and in a timely manner,
and in accordance with reasonable requirements of the Pledgee, to take all necessary measures to ensure the pledge interests of
the Pledgee with respect to the Pledged Property.



 


		10.5	The Company may not carry out or allow to be carried out any conduct or act which may have adverse
effect on the interests of the Pledgee under the Transaction Agreement and the Agreement or on the Pledged Property.



 


		10.6	The Company shall, within the first month of each calendar quarter, provide the Pledgee with the
financial statements of the Company for the previous calendar quarter, including (without limitation) the balance sheet, income
statement and cash flow statement.



 


		10.7	The Company promises to take all necessary measures and to sign all necessary documents (including
without limitation any supplementary agreement to the Agreement) to ensure the pledge rights and interests of the Pledgee with
respect to the Pledged Property as well as its exercise and realization thereof, in accordance with reasonable requirements of
the Pledgee.



 


		10.8	If any exercise of the pledge right hereunder gives rise to any transfer of any Pledged Property,
the Company promises to take all necessary measures to realize such transfer.



 


		11.	Changes in Circumstances



 


As a supplementary provision and subject
to non-violation against the Transaction Agreements or any other provision of the Agreement, if at any time, because of promulgation
of or change in any Chinese law, regulation or rule, or because of any change in interpretations or applications of such law, regulation
or rule, or because of any change in relevant registration procedures, the Pledgee deems that to maintain the Agreement in effect
and/or to dispose of the Pledge in the way stipulated by the Agreement become illegal or depart from such law, regulation or rule,
the Pledgors and the Company shall follow written instructions given by the Pledgee and in accordance with reasonable requirements
of the Pledgee, take any action and/or sign any agreement or other documents in order to:


 




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		(1)	Maintain the validity of the Agreement;



 


		(2)	Facilitate disposal of the Pledge in the way stipulated by the Agreement; and/or



 


		(3)	Maintain or realize the guarantee established or intended to be established by the Agreement.



 


		12.	Confidentiality



 


		12.1	Whether the Agreement is terminated or not, each Party shall assume the obligation of confidentiality
with respect to:



 


		(1)	The signature, performance of the Agreement and its contents; and



 


		(2)	All trade secrets, proprietary information and client information of the Company known or received
by it due to the signature and performance of the Agreement (hereinafter collectively referred to as “the Confidential
Information”).



 


Each Party shall only utilize
such Confidential Information for the purpose of performing their obligations hereunder. Without written consent of the other Parties,
none of the Parties may disclose such Confidential Information to any third party. Otherwise, it shall assume the liabilities for
breach of contract and compensate for losses.


 


		12.2	After the termination of the Agreement, each Party shall, at the request of the other Parties,
return, destroy or otherwise dispose of all documents, data or software containing the Confidential Information, and stop utilizing
such Confidential Information.



 


		12.3	Notwithstanding any other provisions in the Agreement, the validity of Article 12 herein shall
not be affected by dissolution or termination of the Agreement.



 


		13.	Effectiveness and Valid Term of the Agreement



 


		13.1	The Agreement shall become effective upon the date when it is duly signed by the Parties.



 


		13.2	The Agreement shall remain in effect until the Contractual Obligations are fully performed or the
Secured Debts are fully repaid.



 


		14.	Notices



 


All notices and other communications required
or given under or in connection with the Agreement shall be served to the following addresses of the relevant Parties by personal
delivery, registered mails (postage prepaid), commercial express services or fax. The above-mentioned notices shall be deemed to
have been received as follows:


 




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If a notice is sent by personal delivery,
express services or registered mails (postage prepaid), the date when the notice is sent shall be deemed as the valid delivery
date; and


 


If a notice is sent by fax, the date when
the notice is successfully transmitted (as evidenced by the transmission confirmation message automatically generated) shall be
deemed as the valid delivery date.


 


For the purpose of the notices, the address
of each Party is as follows:


 


The Pledgor: ZHANG Qing


Address: *


 


The Pledgor: LV Ying


Address: *


 


The Pledgee: Shengqu Information Technology (Shanghai) Co.,
Ltd.


Address: Building 1, No.690 Bibo Road, Zhangjiang Hi-tech Park,
Shanghai


 


The Company: Shanghai Shengzhan Networking Technology Co., Ltd.


Address: Building 1, Zhangheng Road 666 Long, Pudong New Area,
Shanghai


 


Any Party may change its address for receiving
the notices by sending a notice to the other Parties in accordance with the provisions of Article 14 hereof at any time.


 


		15.	Miscellaneous



 


		15.1	Without prior written consent of the Pledgee, the Pledgors or the Company may not transfer any
of the rights, obligations or liabilities hereunder to any third party. However, without consent of the Pledgors or the Company,
the Pledgee may, after notifying the Pledgors and the Company, transfer its rights, obligations or liabilities hereunder to any
third party. The successors or permitted assignees (if any) of the Pledgors and the Company shall continue to perform the obligations
of the Pledgors and the Company hereunder respectively.



 


		15.2	The amount of debt secured by the Pledge shall be determined by the Parties through consultations
and serve as the final evidence of the secured debt under the Agreement.



 


		15.3	The Agreement is made in Chinese in quadruplicate, with each Party to the Agreement holding one
(1) copy. For the purpose of registration or filing procedures, the number of original copies may be increased correspondingly
(if necessary).



 


		15.4	The conclusion, validity, performance, amendment, interpretation and termination of the Agreement
shall all be governed by the Chinese law.



 


		15.5	Any dispute arising from or in connection with the Agreement shall be settled by the Parties through
consultations. In case that no agreement can be reached within thirty (30) days after the occurrence of the dispute, the dispute
shall be submitted to Shanghai Arbitration Commission for arbitration which shall be conducted in accordance with the Commission’s
arbitration rules in effect at the time of applying for arbitration. The arbitration place shall be Shanghai. The arbitral award
is final and binding upon the Parties.



 




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		15.6	Any right, power and remedy conferred to a Party under any provision of the Agreement shall not
exclude any other right, power or remedy enjoyed by such Party according to the laws or under any other provision of the Agreement,
and the exercise of any of its rights, powers and remedies by one Party may not preclude its exercise of any other right, power
and remedy enjoyed by it.



 


		15.7	No failure or delay by any Party in exercising any right, power or remedy under the Agreement or
stipulated by law (hereinafter referred to as “Such Right”) shall constitute a waiver of Such Right; and any
single or partial waiver of Such Right shall not preclude the Party from any exercise of Such Right in any other way or any exercise
of its other rights, powers or remedies.



 


		15.8	The headings hereunder are inserted for convenience of reference only and in no event shall they
be utilized to construe the provisions of the Agreement nor shall they affect the interpretation of the provisions of the Agreement.



 


		15.9	The provisions of the Agreement shall be divided from and independent of each other. If any one
or more provisions of the Agreement become illegitimate, invalid or unenforceable at any time, the validity, legitimacy and enforceability
of the remaining provisions hereof shall not be affected.



 


		15.10	Any amendment or supplement to the Agreement shall be in writing. Apart from the transfer of rights
hereunder by the Pledgee in accordance with Clause 15.1, any amendment or supplement to the Agreement may not become effective
until it is duly signed by the Parties to the Agreement.



 


		15.11	The Agreement shall be binding upon the legitimate successors of each Party.



 


		15.12	At the same time of signing the Agreement, each Pledgor shall sign a power of attorney separately
(which is shown in Schedule II to the Agreement and hereinafter referred to as “Power of Attorney”), to entrust
any person designated by the Pledgor on its behalf to sign any and all legal documents required for the Pledgee to exercise its
rights hereunder in accordance with the Agreement. The Power of Attorney shall be delivered to and kept by the Pledgee and if necessary,
the Pledgee may submit the Power of Attorney to relevant government authority at any time.



 


[The remainder of this page is intentionally
left blank; please find the signature page herewith attached]


 




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In Witness Whereof, the Parties
hereby sign the Shares Pledge Agreement on the date and at the place first above written.


 


	 	The Pledgors:
	 	 
	 	ZHANG Qing
	 	 	 
	 	Signature:	/s/ ZHANG Qing
	 	 	 
	 	ID card No.:	##################
	 	 	 
	 	LV Ying	 
	 	 	 
	 	Signature:	/s/ LV Ying
	 	 	 
	 	ID card No.:	##################
	 	 	 
	 	The Pledgee:
	 	 	 
	 	Shengqu Information Technology (Shanghai) Co., Ltd.
	 	 	 
	 	/s/ (Stamp)	 
	 	 	 
	 	The Company:
	 	 	 
	 	Shanghai Shengzhan Networking Technology Co., Ltd.
	 	 	 
	 	/s/ (Stamp)	 


 




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Schedule I:


 


Basic Information on the Company


 


	Company Name:	Shanghai Shengzhan Networking Technology Co., Ltd.
	Registered Address:	Room 103, Building 2, No.733 Sunhuan Road, Pudong New Area, Shanghai
	Registered Capital:	RMB 10 Million Yuan


Equity Structure:


 


	Name of

Shareholders	 	Amount of

Contributions

(RMB)	 	Ratio of

Contributions	 	Ownership
	ZHANG Qing	 	5 Million	 	50%	 	All the Shares (100%) held by ZHANG Qing were Pledged to the Pledgee on August 31st, 2013
	LV Ying	 	5 Million	 	50%	 	All the Shares (100%) held by LV Ying were Pledged to the Pledgee on August 31st, 2013


 




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Schedule II:


 


Format of the Power of Attorney


 


I, ZHANG Qing, hereby
irrevocably entrusts __________(ID card No.: _______________) as my authorized agent to sign all legal documents as required or
appropriate for Shengqu Information Technology (Shanghai) Co., Ltd. to exercise its rights under the Shares Pledge Agreement
concluded and signed by Shengqu Information Technology (Shanghai) Co., Ltd. and me, and to handle all formalities of industrial
and commercial registration relevant to the shares pledge and the replacement of the legal representative, managing director and
supervisors.


 


	 	ZHANG Qing
	 	 
	 	Signature: 	 
	 	 	 
	 	Date:	 


 




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Format of the Power of Attorney


 


I, LV Ying, hereby
irrevocably entrusts ___________(ID card No.: ________________) as my authorized agent to sign all legal documents as required
or appropriate for Shengqu Information Technology (Shanghai) Co., Ltd. to exercise its rights under the Shares Pledge Agreement
concluded and signed by Shengqu Information Technology (Shanghai) Co., Ltd. and me, and to handle all formalities of industrial
and commercial registration relevant to the shares pledge and the replacement of the legal representative, managing director and
supervisors.


 


	 	LV Ying
	 	 	 
	 	Signature: 	 
	 	 	 
	 	Date:	 


 




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