Exhibit 10.8


 


Rev. 201704


 


WORKING CAPITAL LOAN CONTRACT


 


BANK OF JIANGSU


 




     


     


    

 


TO MY DEAR CUSTOMERS


 


Dear Customers,


 


According to relevant provisions of China
Banking Regulatory Commission and Bank of Jiangsu Co., Ltd., Bank of Jiangsu Co., Ltd. prohibits its employees from conducting
the following conducts:


 


1. borrowing money from customers;


 


2. providing guarantee, authentication
or matchmaking for private lending;


 


3. taking a part-time job in an enterprise;


 


4. borrowing transitional funds from customer
accounts or using personal account to transfer transitional funds to customers;


 


5. keeping cards, passbooks and passwords
on behalf of customers;


 


6. accepting or soliciting improper benefits.


 


In order to protect your rights and interests,
Bank of Jiangsu Co., Ltd. hereby solemnly reminds you as follows:


 


The conducts mentioned above are expressly
prohibited by Bank of Jiangsu Co., Ltd. Any such conduct engaged in by an employee of Bank of Jiangsu Co., Ltd. for any reason
shall be deemed as an individual conduct but shall not represent the will of Bank of Jiangsu Co., Ltd. Please keep in mind.


 


Meanwhile, Bank of Jiangsu Co., Ltd. requests
the Borrower to make supervision on the employees of Bank of Jiangsu Co., Ltd. If any employee of Bank of Jiangsu Co., Ltd. is
found with the situations mentioned above, the Borrower may report to us by the special email jsyhjcs@126.com or calling the inspection
office (Tel. 025-58587112) of Bank of Jiangsu Co., Ltd. Bank of Jiangsu Co., Ltd. shall keep it strictly confidential.


 


Bank of Jiangsu shall not charge any fees
other than the charging items publicly announced by our Bank to the outside. Bank of Jiangsu shall not cooperate with any intermediary
in violation of regulations. In addition, any fees and security deposits of any kind charged by any other institution from any
person shall have nothing to do with Bank of Jiangsu Co., Ltd. Any and all legal consequences and liabilities arising therefrom
shall have nothing to do with Bank of Jiangsu Co., Ltd.


 


Bank of Jiangsu Co., Ltd.


 


Bank of Jiangsu Co.,Ltd. Shenzhen Branch
(Special Seal for Loan Contract Uses Only)


 


I (our Company) confirms that we have already
learned of and carefully read all contents of the TO MY DEAR CUSTOMERS, understand and accept the risks reminded by your
Bank. We will actively assist your Bank and supervise the conducts of your employees.


 


Signature/Seal of Customer


 


Icon Energy System (Shenzhen) Co., Ltd.
(Seal)


 


Pan Dangyu (Seal)


 




     


     


    

 


Working Capital Loan Contract


 


Contract No.: JK162619000053


 


Borrower: Icon Energy System (Shenzhen)
Co., Ltd.


 


Address: Room 201, No. 4, Guanqing Road,
Luhu Community, Guanhu Street, Longhua District, Shenzhen City


 


Lender: Bank of Jiangsu Co.,Ltd. Shenzhen
Branch


 


Address: 19-20/F, Nepstar Drugstore
Building, No. 2, Lanxiang First Street, Zhongxin Road, Nanshan District, Shenzhen City


 


In accordance with the relevant national
laws and regulations, both parties make and enter into this Contract upon consensus through consultation and are willing to abide
by all terms and conditions of this Contract.


 


Article 1 Loan contents


 


I. Loan amount: (currency) RMB (in
words) ten million Yuan only.


 


II. Loan term: from May 24, 2019 to
March 23, 2020.


 


III. Loan interest rate


 


1. The interest rate for RMB loan shall
be the following B:


 


A. The loan hereunder implements a fixed
interest rate. The executed annual interest rate shall be      /    % and the interest rate shall remain unchanged during the valid
term of this Contract;


 


B. The loan hereunder implements a floating
interest rate and the interest rate shall be 40% higher (higher/lower) than the benchmark interest rate 4.35%
for RMB loans issued by the People's Bank during the same period or be      /     (plus/minus)       /       BP (1 BP equals to 0.01
percentage point). The executed annual interest rate shall be 6.09%. The interest rate hereunder shall be adjusted by month
(month/quarter/half year/year) with the adjustment of the benchmark interest rate for RMB loans issued by the People's Bank during
the same period and such adjustment shall be made on the first day of each month.


 


2. The interest rate for foreign exchange
loans shall be the following        /     :


 


A. The loan hereunder implements a fixed
interest rate. The interest rate shall be      /    (in words) months      /     (LIBOR/HIBOR/SIBOR)+        /     %. The executed annual
interest rate shall be        /     % and the interest rate shall remain unchanged during the valid term of this Contract;


 


B. The loan hereunder implements a floating
interest rate and the interest rate shall be be        /       (in words) months        /       (LIBOR/HIBOR/SIBOR)+        /      %. The interest
rate hereunder shall be adjusted by        /       and such adjustment shall be made on        /     .


 


3. Interest calculation


 


The interest shall be calculated according
to the actual date of withdrawal by the Borrower and according to the actual amount withdrawn and the days of occupation of the
loan.


 


Formula for calculation of interest: interest
= principal ×actual number of days × daily interest rate.


 


The base for calculation of daily interest
rate shall be 360 days a year. The conversion formula is: daily interest rate = annual interest rate /360.


 


IV. Loan purpose shall be payment for
purchase (payment for)


 


V. Loan note


 


The loan note is the Borrower's loan voucher
under this Contract and an effective part of this Contract. It shall have the same legal effect as this Contract. if the amount,
date of payment, due date and interest rate of the Borrower's loan hereunder or other loan contents is different from that recorded
in the loan note, that recorded in the loan note shall prevail.


 


Article 2 Settlement of loan interest


 


1. The interest shall be calculated from
the date of the actual payment of the loan according to the actual amount paid and the actual loan term. The interest shall be
settled by month (month/quarter) and the expiry date for interest shall be the 20th day of each month (month/last
month of each quarter).


 




     


     


    

 


If the last repayment date of the principal
is not an expiry date for interest, the unpaid interest shall be paid with repayment of principal.


 


2. The Borrower shall pay interest on each
expiry date for interest. The Lender may deduct interest directly from the account opened by the Borrower with Bank of Jiangsu.
If the Borrower fails pay interest timely, the Lender shall have the right to charge compound interest form the unpaid interest.


 


Article 3 Default interest and compound
interest


 


If the loan hereunder is overdue or is
not used for the purpose agreed herein, interest and compound interest shall be calculated and collected according to the method
of the following B:


 


A. If the Borrower fails to repay in full
and on time the loan at maturity (including acceleration of maturity) where a fixed interest rate is executed, the Lender shall
have the right to charge a default interest according to / % plus the loan interest rate hereunder from the date of overdue;
if the Borrower fails to use the loan for the purpose agreed herein, the Lender shall have the right to charge a default interest
according to       /     % plus the loan interest rate hereunder from the date of misappropriation.


 


Compound interest shall be calculated and
collected for the interest (including default interest) paid by the Borrower after the deadline. Compound interest shall be calculated
and collected at the default interest rate after the loan is overdue.


 


B. If the Borrower fails to repay in full
and on time the loan at maturity (including acceleration of maturity) where a floating interest rate is executed, the Lender shall
have the right to charge a default interest according to 50% plus the floating interest rate executed in the current period
from the date of overdue; if the Borrower fails to use the loan for the purpose agreed herein, the Lender shall have the right
to charge a default interest according to 100% plus the floating interest rate executed in the current period from the date
of misappropriation.


 


Compound interest shall be calculated and
collected for the interest (including default interest) paid by the Borrower after the deadline. Compound interest shall be calculated
and collected at the default interest rate after the loan is overdue.


 


Article 4 Conditions for withdrawal


 


1. The Borrower may not withdraw the loan
until the following conditions are satisfied upon the effectiveness of this Contract (except as otherwise exempted by the Lender):


 


(1) The Borrower has opened relevant RMB
or/and foreign exchange accounts with the Lender or any branch of the Lender;


 


(2) The Borrower has provided the Lender
with the legal documents of proving the legitimacy of the Borrower, including but not limited to the business license passing the
latest annual inspection, approval certificate, joint venture or cooperation contract, and articles of association, etc.;


 


(3) The Borrower has submitted the Application
for Withdrawal and the Power of Attorney for Entrusted Payment to the Lender.


 


(4) The guarantee contract, and/or mortgage
contract and pledge contract in connection with the loan hereunder have become effective;


 


(5) All the procedures in connection with
this Contract and required by the Lender, including but not limited to approval, registration, filing, insurance, notarization
and witness, have been handled and completed;


 


(6) The Borrower has provided the Lender
with the capital verification report proving that the registered capital of the Borrower had been paid according to law;


 


(7) According to the provisions of the
Borrower's internal authorization system, the Borrower has provided the Lender with the resolution and authorization letter that
the Borrower's board of directors and/or the shareholders' meeting (shareholders' general meeting) and other competent authorities
had agreed the loan hereunder;


 


(8) The Borrower has provided the Lender
with the materials of proving the purpose of the loan hereunder;


 


(9) The Borrower has provided the Lender
with a loan note affixed with the valid seal of the Borrower;


 


(10) The Borrower has provided the Lender
with the loan cards (certificates) of the Borrower and the guarantor;


 


(11) Where the Lender thinks necessary,
the Borrower shall handle notarization with the force of enforcement for the loan contract, the guarantee contract and the mortgage
(pledge) contract;


 




     


     


    

 


(12) The Borrower or the guarantor has
paid all the relevant expenses payable hereunder; and


 


(13) Other conditions for withdrawal agreed
by both parties: blank below                                                                                               


 


 


 


 





Article 5 Withdrawal plan


 


1. When the preconditions for withdrawal
are all satisfied, the Borrower may withdraw the loan in a lump sum (in a lump sum/by installments). The withdrawal plan
is as follows:


 


Unit (ten thousand Yuan, ten thousand US
dollars or other) : ten thousand Yuan


 


	Withdrawal
	Period	 	Date of withdrawal	 	Amount withdrawn
	First period	 	May 24, 2019	 	1000
	Second period	 	 	 	 
	Third period	 	 	 	 


 


(Any table attached hereto where there
is insufficient space to fill shall be an integral part of this Contract.)


 


2. The Lender shall have the right to reject
the Borrower's application for withdrawal of the part not withdrawn and used within the time limit given above.


 


Article 6 Payment mode


 


I. The loan under this Contract shall be
paid according to the method of the following 1:


 


1. Entrusted payment. The Lender shall,
according to the Borrower's application for withdrawal and payment entrustment, pay the loan funds through the Borrower's account
to the Borrower's transaction object that meets the purpose stipulated herein.


 


2. Independent payment. The Lender shall,
according to the Borrower's application for withdrawal and payment entrustment, pay the loan funds to the Borrower's account before
the Borrower independently pays its transaction object that meets the purpose stipulated herein according to the plan determined
by the Borrower upon application. The Borrower shall submit a payment list to the Lender at the end of each quarter. The contents
of each payment list shall include but not be limited to name of the transaction object, amount and time of payment, and payment
causes, etc.


 


3. Partial entrusted payment Where a single
amount of the loan funds exceeds RMB / Yuan (if the amount is less than or equals to RMB ten million Yuan, the foreign exchange
loan shall be converted into the foreign exchange purchase price issued by the Borrower on the date of entrusted payment), the
single amount shall be paid under entrusted payment, and the remaining shall be paid under independent payment.


 


II. If the Borrower falls under any of
the following circumstances, the Lender shall have the right to supplement the loan payment conditions through consultation with
the Borrower; where consultation fails, the Lender shall have the right to stop the payment of the loan funds or ask the Borrower
to prepay the loan having been released;


 


1. Its credit status is declined;


 


2. The profitability of its main business
is not strong and breaks through the agreed financial indicators;


 


3. It fails to pay the loan funds according
to the stipulations of this Contract;


 


4. It violates this Contract and avoids
the entrusted payment by the Lender by means of breaking up the whole into parts;


 




     


     


    

 


 


5. It fails to comply with its commitments;


 


6. Other circumstances in violation of
this Contract.


 


Article 7 Repayment


 


I. The sources of repayment of the Borrower
include but are not limited to operating revenues.


 


II. Except as otherwise agreed by both
parties, the Borrower shall repay the loan hereunder according to the following repayment plan:


 


Unit (ten thousand Yuan, ten thousand US
dollars or other) : ten thousand Yuan


 


	Repayment
	Period	 	Date of repayment	 	Amount of repayment
	First period	 	Mar. 23, 2020	 	1000
	Second period	 	 	 	 
	Third period	 	 	 	 


 


(Any table attached hereto where there
is insufficient space to fill shall be an integral part of this Contract.)


 


III. If the date of repayment given above
is not a banking day, it shall be postponed to the next banking day. If the Borrower requires extending the payment term, it shall
submit a written application to the Lender one month in advance. Upon approval by the Lender, the payment term may be extended.


 


IV. If the Borrower desires to make repayment
in advance, it shall obtain the Lender's consent, implement the interest rate determined for the original term and pay    /   of
the amount repaid in advance as the fee.


 


V. The Borrower irrevocably authorizes
the Lender to deduct all the loan principal and interest due or due in advance from the account opened by the Borrower with any
system of Bank of Jiangsu. Where foreign exchange is deducted, it shall be converted at the foreign exchange purchase price issued
by the Lender on the date of deduction.


 


VI. The Buyer shall make repayment according
to the method of the following    / :


 


1. The Borrower shall open a special repayment
reserve account for the loan hereunder with the Lender. During the duration of the loan, the Borrower shall deposit the funds
recovered from the loan into this account and ensure that the balance in the account not less than (currency)    /  
(in words)    /   at any time. This account shall be subject to the Lender's supervision
and cannot be used for settlement. The Lender shall have the right to deduct and repay the loan principal and interest directly
from this account. If the balance in this account is insufficient, the Lender shall have the right to make deduction directly
from the Borrower's any account opened with any system of Bank of Jiangsu or claim from the Borrower or the guarantor.


 


2. The Borrower shall open a unit settlement
account with the Lender and deposit the cash flows of its routine revenues to this account according to the proportion of its total
credit amount granted by the Lender out of its total credit amount granted by all financial institutions. The balance in the account
not less than (currency)    /   (in words)  /   at any time. The Borrower shall deposit in this account a sufficient
amount for repaying the current loan principal and interest due prior to each date of repayment. The Borrower authorizes the Lender
to deduct and repay the loan principal and interest directly from this account.


 


Article 8 Representations and warranties
of the Borrower


 


1. The subject qualifications of the Borrower
comply with the requirements of relevant laws, administrative regulations and normative documents;


 


2. The Borrower has been fully authorized
to sign this Contract and other relevant documents and has the ability to perform and fulfill its responsibilities;


 




     


     


    

 


 


3. The signing and performance of the contract
and other relevant documents By the borrower shall not conflict with or violate any laws, regulations and normative documents,
nor constitute a breach of this Contract;


 


4. The Borrower currently has no pending
litigation, arbitration or administrative punishment, and no litigation, arbitration or administrative punishment filed against
its assets or earnings as known by the Borrower;


 


5. The Borrower shall cooperate with the
Lender to carry out loan payment management, post-loan management and relevant inspection;


 


6. The financial statements provided by
the Borrower give a true view on the financial conditions of the Borrower;


 


7. The Borrower that the application materials
provided by the Borrower to the Lender are true, lawful and valid, and there is no material omission or misleading;


 


8. The materials about the Borrower, the
guarantor, the mortgagor, the pledgor, the mortgaged (pledged) property and project in this Contract and the guarantee contract
are true, complete and accurate, and there is no omission of any important facts;


 


9. The Borrower irrevocably authorizes
Bank of Jiangsu Co.,Ltd. to inquire the Borrower's all kinds of information by various means from the date of signature of this
Contract to the date of termination of business hereunder. These means may include but not be limited to state administrative departments,
government departments, business management organizations, social third-party data platforms and network media. The Borrower is
aware of the possible legal consequences arising from the provision of such non-public information;


 


10. The Borrower has fully known the business
scope, authorizations and privileges of the Lender; the Borrower has read all the terms and conditions of this Contract and the
Lender has made explanation on relevant clauses of this Contract at the Borrower's request; the Borrower has complete and full
understanding of the meanings and corresponding legal consequences of the terms and conditions of this Contract; and the signature
of this Contract by the Borrower is the representation of the Borrower's true meaning.


 


Article 9 Rights and obligations of the
Borrower


 


I. Rights of the Borrower


 


1. The Borrower has the right to withdraw
and use the loan according to the stipulations of this Contract;


 


2. It has the right to transfer its debt
hereunder to a third party after obtaining the Lender's written consent.


 


II. Obligations of the Borrower


 


1. It shall truthfully provide the documents
and materials required by the Lender (including the account number of all bank accounts, balances of deposits and loans, use of
loan, conditions of assets, production and business activities, internal management and other true information);


 


2. It shall provide the financial statements
of the previous month before the 20th day of each month, and provide the Lender with the audited financial statements within 120
days after each fiscal year. It shall timely provide the Lender with the changes of itself;


 


3. It shall accept and cooperate with the
Lender to carry out survey, supervision and inspection on its use of credit funds, and its production, operation and financial
activities;


 


4. It shall open a settlement account with
Bank of Jiangsu Shenzhen Branch (Sub-branch), and handle domestic and foreign settlement, exchange settlement and sales, and other
intermediary business with the Lender or any branch of the Lender not lower than the proportion of the loan hereunder out of the
total loan balance in other financial institutions;


 


5. It shall use the loan according to the
purpose and means agreed herein;


 


6. It shall repay the loan principal and
interest on time and in full according to the stipulations of this Contract;


 


7. Prior to external investment, substantial
increase of debt financing, merger, division, equity transfer, asset transfer and other major events, it shall notify the Lender
in writing in advance and obtain the Lender's written consent, and implement guarantee measures for repayment of the loan principal
and interest and other relevant expenses hereunder;


 


8. The Lender shall be timely notified
if the Borrower or the guarantor has any significant adverse event affecting its solvency/security capability;


 


9. The total amount guaranteed for the
liabilities of a third party shall not exceed / times the net assets of the Borrower;


 




     


     


    

 


 


10. If the Borrower is a group customer,
it shall give a written report to the Lender within 10 days as of the date of occurrence of an affiliated transaction with the
target amount exceeding 10% of the Borrower's net assets. The contents of the report shall include but not be limited to the relations
between the transaction parties, the transaction project and nature, the transaction amount or proportion and the pricing basis
(including the transaction without an amount or with a symbolic amount only).


 


11. It shall ensure to cover insurance
for the loan-related property according to the requirements of the Lender and define the Lender as the beneficiary of the insurance
interest;


 


12. If this Contract is made enforceable
through notarization by a notary organ, the Borrower agrees to be enforced by the people's court and waives the right of defense.


 


Article 10 Rights and obligations of the
Lender


 


I. Rights of the Lender


 


1. The Lender has the right to ask the
Borrower to provide materials in connection with the loan hereunder;


 


2. It has the right to ask the Borrower
to repay the loan principal and interest on schedule or in advance;


 


3. It has the right to understand the Borrower's
production and operation, financial activities, business activities and repayment plan, and it has the right to extract or copy
from the Borrower's accounting books, business records and other relevant materials;


 


4. It has the right to supervise the Borrower
to use the loan according to the purpose and means agreed herein;


 


5. It has the right to deduct the loan
principal and interest due or due in advance and other relevant expenses from the Borrower's account;


 


6. If the Borrower fails to perform or
violates its various obligations agreed herein, the Lender shall have the right to change the loan payment mode, stop payment of
the loan not withdrawn by the Borrower and/or ask the borrower to repay the loan in advance and announce acceleration of maturity
of all the loan hereunder according to the stipulations of this Contract;


 


7. The Lender has the right to take back
the loan in advance according to the capital return of the Borrower;


 


8. If the Borrower has any such major events
as transfer of property right, institutional change, decrease of registered capital or transfer of creditor's right and debt, the
Lender shall have the right to ask the Borrower to repay the loan principal and interest hereunder in advance and pay all other
relevant expenses, or ask the Borrower to transfer its all debts hereunder to a transferee accepted by the Lender, or ask the Borrower
to provide other guarantee measures accepted by the Lender.


 


II. Obligations of the Lender


 


1. The Lender shall release the loan to
the Borrower according to the conditions specified in this Contract;


 


2. The Lender shall keep confidential the
financial conditions, and production and operation conditions of the Borrower, except as otherwise prescribed by laws, administrative
regulations and normative documents.


 


Article 11 Default events


 


I. During the valid term of this Contract,
any one of the following circumstances shall constitute a default event:


 


1. The Borrower fails to perform the representations,
warranties and obligations set forth in Article 8 and Article 9 hereof, including failure to pay the loan principal and interest
and other expenses payable hereunder on the date of maturity;


 


2. The Borrower fails to fully and promptly
perform its any obligations specified in this Contract and other relevant documents. If the Borrower's aforesaid behavior can be
corrected but the Borrower fails to correct it to the extent satisfied by the Lender within 20 days after the Lender sends a written
notice of correction;


 


3. The Borrower voluntarily or compulsively
goes out of business, winds up, reorganizes, dissolves or goes into bankruptcy;


 


4. The Borrower provides false materials
or conceals important business financial facts;


 


5. The Borrower breaks through the financial
indicators stipulated in Article 17 of this Contract;


 


6. The Borrower suffers from financial
loss or deterioration of financial conditions, which may affect the loan safety, or the Borrower intentionally evades or cancels
the creditor's rights of the Bank;


 




     


     


    

 


 


7. The Borrower's loan project plan is
canceled or cannot be implemented;


 


8. The Borrower fraudulently obtains funds
or credit from the Lender or other bank by use of a false contract with an affiliated party;


 


9. The Borrower engages in or suspected
of carrying out illegal business activities;


 


10. The Borrower goes into division, combination,
major merger, acquisition or reorganization;


 


11. The Borrower violates any other contract
signed with the Lender or a third party, or there is any dispute arising from such contract, thereby causing or likely to cause
litigation or arbitration;


 


12. The controlling shareholder of the
Borrower transfers its shares held in the Borrower, or the controlling shareholder, actual controller, legal representative or
other senior management person has major events, including but not limited to engaging in or suspected of conducting illegal activities,
or subject to litigation, arbitration or administrative punishment, going worse of its financial conditions, declaration of bankruptcy
or dissolution, and so on;


 


13. The guarantor has breach of contract,
including but not limited to provision of false materials by the guarantor, the guarantor's violation of other contract signed
with the Lender or a third party, litigation or arbitration caused due to any dispute arising from such contract, forced or active
suspension of business, major business failure, engaging in or suspected of conducting illegal activities, evasion or cancellation
of creditor's rights of the Bank, merger and/or acquisition or reorganization, or other situations which may reduce its guarantee
capability;


 


14. An event of default occurs under other
loan contract or guarantee contract made and entered into by and between the Borrower and the Lender;


 


15. Other circumstances which endanger
or may endanger the Lender's loan safety.


 


II. If the Borrower has any breach of contract,
the Lender shall take one or more of the following methods according to the nature and extent of the default event:


 


1. to require the Borrower to correct the
default event within a time limit and take remedial measures;


 


2. to change the payment mode of the loan
not withdrawn hereunder;


 


3. to stop the Borrower from continuing
to withdraw funds, cancel the amount of the loan not withdrawn, announce acceleration of maturity of the loan principal and interest
hereunder, and take back the loan immediately;


 


4. to announce acceleration of maturity
of the principal and interest of all the loans under other loan contracts made and entered into by and between the Borrower and
the Lender, and take back all the loans immediately;


 


5. to freeze the Borrower's deposits in
part or in all, make deduction from the Borrower's deposit account to repay the loan principal and interest and pay relevant expenses
hereunder; the Borrower agrees and authorizes the Lender to purchase foreign exchange to repay the principal and interest of the
foreign exchange loan;


 


6. to demand the guarantor's liability
for guarantee or dispose the mortgaged (pledged) property;


 


7. to bring a lawsuit in a court to claim
the loan principal and interest, expenses and other losses from the Borrower and the guarantor through judicial proceedings;


 


8. If this Contract is made enforceable
through notarization by a notary organ, the Lender may apply to the people's court for enforcement.


 


Article 20 Expenses


 


1. The expenses incurred in connection
with the execution of this Contract, including but not limited to the expenses of credit investigation, notarization, testimony
and registration, shall be borne by the parties respectively in accordance with laws or agreements;


 


2. The expenses of the Lender for urging
the Borrower to repay the loan principal and interest after the Borrower fails to repay the loan principal and interest on time,
including but not limited to announcement fee, service fee, appraisal fee, attorney fee, legal cost, traveling expenses, evaluation
fee, auction fee, property preservation fee and enforcement cost, shall be borne by the Borrower.


 


Article 13 Debt transfer


 


1. Without the Lender's written consent,
the Borrower shall not transfer its any rights and obligations under this Contract to any third party.


 




     


     


    

 


 


2. If the Borrower transfers its any rights
and obligations under this Contract to a third party upon the Lender's written consent, the third party shall unconditionally abide
by all the terms and conditions of this Contract.


 


Article 14 Change and cancellation of contract,
and exercising of rights


 


1. This Contract may be changed or canceled
in written form upon consensus through consultation.


 


2. During the valid period of this Contract,
the Lender’s tolerance or grace imposed on or the Lender’s delay in the exercising of its any right hereunder for the
Borrower’s breach or delay shall not damage, impact or restrict all the other rights enjoyable by the Lender as a creditor
in accordance with this Contract and relevant laws, administrative regulations and normative documents, and shall not be deemed
as the Lender’s permit or acceptance of any breach of this Contract nor be deemed as a waiver of such right by the Lender
to take actions for the Borrower's current or future breach of contract;


 


3. If any provision of this Contract becomes
invalid or partially invalid for any reason, the Borrower shall continue to perform the responsibility of repayment. In the event
of any such circumstance, the Lender shall have the right to terminate this Contract and may immediately claim the loan principal
and interest hereunder and other relevant expenses from the Borrower;


 


4. In case of any change of the Borrower's
domicile, mailing address, telephone number, business scope and legal representative, the Lender shall ensure to notify the Lender
in written form within 10 days after the change of relevant items. If the Borrower fails to perform the obligation of notification
mentioned above, the relevant notices and documents sent by the Lender to the original mailing address of the Borrower shall be
deemed as being served to the Borrower;


 


5. Any and all notices and documents between
both parties hereto and in connection with the execution of this Contract shall be given in written form.


 


Article 15 The Borrower agrees that the
creditor's right hereunder is made enforceable through notarization of this Contract. In the event that the Borrower fails to perform
all or part of its obligations specified herein, the Lender may apply to the competent people's court for enforcement.


 


Article 16 Applicable laws and dispute
settlement


 


The formation, validity, interpretation,
execution and settlement of disputes in respect of this Contract shall be governed by the relevant laws of the People's Republic
of China. In case of any dispute during the execution of this Contract, the dispute shall be settled by both parties through consultation
or mediation; where consultation or mediation fails, the dispute may be settled according to the method specified in the following
B:


 


A. to file a lawsuit in the people's court
at the location where the Lender is located;


 


B. to apply to Shenzhen Arbitration
Commission for arbitration.


 


Article 17 Other matters agreed by both
parties:


 


1. The loan under this Contract is the
specific credit within the credit line in the Maximum Comprehensive Credit Contract of No. SX162618000785, to which
this Contract is an effective annex.


 


2. The loan interest and other expenses,
other than the loan principal hereunder, shall be tax inclusive.


 


3. Agreement on the Borrower's financial
indicators: blank below


 


4. Blank below                                                                                                                                                                                                     


                                                                                                                                                                                                                              


 


Matters not provided herein shall be interpreted
or handled in accordance with relevant laws, administrative regulations and normative documents, and relevant stipulations of Bank
of Jiangsu.


 


Article 18 Validity and invalidity of contract


 


1. This Contract shall come into force
when it is signed by the legal representatives or authorized representatives of both parties and affixed with the official seals
of both parties.


 


2. This Contract shall become null and
void when the Borrower has paid all the loan principal and interest hereunder and all other expenses.


 


Article 19 This Contract is made out in
three originals, for the Lender, the Borrower and the Lender, / / each holding one, which shall be equally authentic.


 




     


     


    

 


 


	Borrower (Official Seal):	Lender (Official Seal):
	 	 
	Icon Energy System (Shenzhen)	Bank of Jiangsu Co., Ltd. Shenzhen Branch Co., Ltd. (Seal)
	 	(Special Seal for Loan Contract Uses Only)
	 	 
	Legal Representative or	Legal Representative or
	Authorized Representative (Signature/Seal):	Authorized Representative (Signature/Seal):
	 	 
	 	Pan Dangyu (Seal)


 


Date of Signature: April 30, 2019


 


	Signatory
	 	 


 




     


     


    

 


 


Letter of Confirmation of Service Address


 


Bank of Jiangsu Co.,Ltd.:


 


As
þI (our Company)
/ ̈debtor     /  
applied to your Bank for a credit, I (our Company) and your Bank made and entered into the Working Capital Loan Contract
of No. JK162619000053. In order to ensure the service of your Bank's notices and the court's relevant litigation documents
prior to full repayment of the credit, I (our Company) hereby confirm as follows:


 


1. The address given in the following table
is our effective service address:


 


	Address	 	Room 201, No. 4, Guanqing Road, Luhu Community, Guanhu Street, Longhua District, Shenzhen City	 	Zip Code	 	518000


 


2. I (our Company) hereby designate the
following persons as the recipients (i.e., designated recipient) of your Bank's notices and the court's litigation documents, including:
(1) I, my relatives, the property management personnel of the community and office building where the above service address is
located, shall be applicable to the situations where the person served is an individual; (2) our Company, and shareholders and
staff of our Company, the property management personnel and security guards of the community and office building where the above
service address is located, shall be applicable to the situations where the person served is a unit.


 


3. Scope of application of the service
address and designated recipient mentioned in the preceding paragraph: applicable to the service of the notices prescribed in laws
and specified in the contracts, agreements, warranties, letters of commitment and other documents between your Bank and I (our
Company), applicable to the service of the litigation documents in the first instance, second instance, executive and special procedures
of civil procedures after your Bank institutes legal proceedings against I (our Company).


 


4. Notification procedures for change of
service address or designated recipient: if the service address or designated recipient given above is changed, I (our Company)
shall, 10 working days prior to such change, notify your Bank in writing and give your Bank a new Letter of Confirmation of
Service Address.


 


5. Agreement on legal consequences: if
your Bank's notice or the court's litigation document fails to be actually received because the aforesaid service address I (our
Company) provided or confirmed is not correct, or I (our Company) failed to timely notify your Bank and the court according to
the aforesaid procedures after the change of the aforesaid service address, or I (our Company) or the designated recipient refuses
to sign for any reason, if sent by post, it shall be deemed as having been served as of the date when your Bank's notice or the
court's litigation document is sent back; if sent by direct service, your Bank's notice shall be deemed as having been served as
of the date when it s marked by the staff of your Bank, and the court's litigation document shall be deemed as having been served
as of the date when it is marked on the receipt of service of the court by the server of the court.


 


This Letter of Confirmation is an annex
to the Contract above mentioned. If the service mode agreed in the above-mentioned Contract is different from that confirmed in
this Letter of Confirmation, that given in this Letter of Confirmation shall prevail. If the Contract above mentioned is applicable
to arbitration, this Letter of Confirmation shall also apply to the service of arbitration documents.


 


	Issued by an individual	Signature:
	 	 
	 	Date:


 


	Issued by an entity	Seal: Icon Energy System (Shenzhen) Co., Ltd. (Seal)
	 	 
	 	Signature/Seal of Legal Representative or Authorized Representative:
	 	 
	 	Apr. 30, 2019
	 	 
	 	Pan Dangyu (Seal)


 


In case of any service quality problem,
please dial the supervision number: *.