EX-4.44




 Exhibit 4.44 

WLM KIDS INC. 
 2021
SHARE INCENTIVE PLAN 
 2021             

1.    Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel for
positions of substantial responsibility, to provide additional incentives to the CEO, other selected Employees, Directors, and Consultants and to promote the success of the Company’s business by offering these individuals an opportunity to
acquire a proprietary interest in the success of the Company, or to increase this interest by permitting them to acquire Shares of the Company. The Plan provides both for the direct award or sale of Shares and for the grant of Awards to purchase
Shares. Awards granted under the Plan may be a Share Purchase Right, a Restricted Share, an Option (Incentive Stock Options or Nonqualified Stock Options), a restricted share unit or a Share Award, as determined by the Administrator at the time of
grant. Except otherwise provided in this Plan or the Share Award Agreement, Awards and Ordinary Shares acquired by the Awardees based on the Awards, directly or indirectly, in accordance with this Plan shall have no voting rights. All outstanding
Awards granted prior to the date on which this Plan is adopted by the Company’s Board shall be governed by this Plan. 

2.    Definitions. For the purposes of this Plan, the following terms shall have the following meanings: 

(a)    “Acquisition Date” means, with respect to Shares, the date on which the Shares are sold under the
Plan, the Shares are delivered upon exercise of an Award or the Shares are delivered in connection with a Share Award as the case may require. 

(b)    “Administrator” means the Chief Executive Officer of the Company or such delegates as shall be
administering the Plan in accordance with Section 4 hereof. 
 (c)    “Affiliate” means, with
respect to any Person, any Person which, directly or indirectly, controls, is controlled by or is under common control with such Person. 

  
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 (d)    “Applicable Law” means any applicable legal
requirements relating to the administration of and the issuance of securities under equity securities-based compensation plans, including, without limitation, the requirements of laws of the PRC or the Cayman Islands, and the requirements of any
stock exchange or quotation system upon which the Shares may then be listed or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under the Plan or where the Awardees are domiciled or resident for tax
purposes. For all purposes of this Plan, references to statutes and regulations shall be deemed to include any successor statutes or regulations, to the extent reasonably appropriate as determined by the Administrator. 

(e)    “Articles” means the Company’s Amended and Restated Memorandum and Articles of Association,
as amended from time to time. 
 (f)    “Award” means a Share Purchase Right, a Restricted Share, an
Option, a restricted share unit or a Share Award as the case may require. 
 (g)    “Award Agreement”
means a written or electronic agreement between the Company and an Awardee, the form(s) of which shall be approved from time to time by the Administrator, evidencing the terms and conditions of an individual Award granted under the Plan, and
includes any documents attached to or incorporated into the Award Agreement, including, but not limited to, a notice of Award grant and a form of exercise notice. The Award Agreement shall be subject to the terms and conditions of the Plan. 

(h)    “Awarded Shares” means the Shares subject to an Award. 

(i)    “Awardee” means the holder of an outstanding Award granted under the Plan. 

(j)    “Board” means the Board of Directors of the Company. 

  
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 (k)    “Cause” means (i) a Service Provider has
been negligent in the discharge of his or her duties to the Company or any Affiliate, has refused to perform stated or assigned duties or is incompetent in or (other than by reason of a disability or analogous condition) incapable of performing
those duties; (ii) a Service Provider has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure or use of inside information, customer lists, trade secrets or
other confidential information; (iii) a Service Provider has breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Company or any of its Affiliates; or has been convicted of, or
pled guilty or nolo contendere to, a felony or misdemeanor or equivalent in any jurisdiction (other than minor traffic violations or similar offenses); (iv) a Service Provider has materially breached any of the provisions of any agreement (including
but not limited to the employment agreement, invention assignment agreement, non-compete agreement and confidentiality agreement) or any understanding with the Company or any of its Affiliates; (v) a
Service Provider has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of, the Company or any of its Affiliates; (vi) a Service Provider has improperly induced a
vendor or customer to break or terminate any contract with the Company or any of its Affiliates or induced a principal for whom the Company or any Affiliate acts as agent to terminate such agency relationship; or (vii) any of the circumstances
set forth under Article 39 of the Labor Contract Law of the PRC, in each case as determined in good faith by the Administrator. 

(l)    “Change in Control” means the occurrence of any of the following events: 

any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting
securities; or 

  
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 the consummation of the sale, lease, or disposition by the Company of all or substantially all of the
Company’s assets; or 
 the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least
fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation. 

Anything in the foregoing to the contrary notwithstanding, a transaction shall not constitute a Change in Control if its sole purpose is to
change the legal jurisdiction of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. In
addition, a sale by the Company of its securities in a transaction, the primary purpose of which is to raise capital for the Company’s operations and business activities including, without limitation, an initial public offering of Shares under
the Securities Act or other Applicable Law, shall not constitute a Change in Control. 
 (m)    “Code”
means the U.S. Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. References to IRC Section shall mean a section number of the Internal Revenue Code of 1986. 

(n)     “Company” means WLM Kids Inc., a company currently organized under the laws of the Cayman
Islands, or any successor corporation thereto. 

  
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 (o)    “Consultant” means any natural person, including
an advisor, who is engaged by the Company, or any Parent, Subsidiary, Affiliate or variable interest entity whose financial statements are intended to be consolidated with the Company, any Parent, Subsidiary or Affiliate to render bona fide
consulting or advisory services to such entity and who is compensated for the services, and any other persons including former employees who, in the sole opinion of the Administrator, have contributed or will contribute to the Company, Parent,
Subsidiaries or Affiliate, provided that the term “Consultant,” does not include (i) Employees or (ii) securities promoters. 

(p)    “Date of Grant” means the date an Award is granted to an Awardee in accordance with
Section 14 hereof. 
 (q)    “Director” means a member of the Board. 

(r)    “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code.

 (s)    “Employee” means any person, including officers and Directors, employed by the Company or any
Parent or Subsidiary. A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or any Parent or Subsidiary, including sick leave, military leave, or any other personal leave, or
(ii) transfers between locations of the Company or between the Company or any Parent or Subsidiary, or any successor. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration
of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three (3) months following the
91st day of such leave, any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified Stock Option.
For the avoidance of doubt, neither service as a Director nor payment of a director’s fee by the Company or any Parent or Subsidiary shall be sufficient to constitute “employment” by the Company or any Parent or Subsidiary. 

  
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 (t)    “Exercise Price” means the amount for which one
Share may be purchased upon exercise of an Award, as specified by the Administrator in the applicable Award Agreement in accordance with Sections 6(d) and 8(b) hereof. 

(u)    “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 (v)    “Fair Market Value” means, as of any date, the value of
the Shares determined as follows: 
 if the Shares are listed on any established stock exchange or a national market system, including, without limitation,
The New York Stock Exchange, The Nasdaq Global Market or The Nasdaq Capital Market of The Nasdaq Stock Market, the Hong Kong Stock Exchange and the London Stock Exchange (Main Listing or Alternative Investment Market), the Fair Market Value shall be
the closing sales price for the Shares (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; 
 if the Shares are regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value shall be the
mean of the high bid and low asked prices for the Shares on the day of determination, as reported in The Wall Street Journal or any other source as the Administrator deems reliable; or 

in the absence of an established market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Administrator in accordance
with the acceptable valuation methodology in accordance with U.S. Treasury Regulations issued under IRC Section 409A, and as amended from time to time. 

  
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 (w)    “Hong Kong” means the Hong Kong Special
Administrative Region of the People’s Republic of China. 
 (x)    “Hong Kong Stock Exchange”
means The Stock Exchange of Hong Kong Limited. 
 (y)     “Incentive Stock Option” means an Option
intended to qualify as an incentive stock option within the meaning of Section 422 of the Code, as designated in the applicable Award Agreement. 

(z)    “HKSE Listing Rules” mean Rules Governing the Listing of Securities on the Hong Kong Stock
Exchange (as amended from time to time). 
 (aa)    “Non-Compete
Obligation” means during the Employee’s employment with the Company or any Parent or Subsidiary and within two (2) years after his/her employment with the Company or any Parent or Subsidiary ends, to the furthest extent permitted
by the Applicable Law, the Employee shall not, directly or indirectly, (i) establish, carry on, participate in, work for, provide financial support or security for, or advise, any entity or individual that directly or indirectly competes with
the Company or any Affiliate of the Company; (ii) participate in or work for any entity or individual that is a supplier or vendor of the Company or any Affiliate of the Company; or (iii) carry on any activity similar to the business
carried on by the Company or any Affiliate of the Company. 

(bb)    “Non-Disclosure Obligation” means during or after the
Employee’s employment with the Company or any Parent or Subsidiary ends, the Employee will not disclose any information, whether or not in writing, of a private, secret, or confidential nature concerning the Company’s business, business
relationships or financial affairs to any entity or individual or use the same for any purposes (other than in the performance of his/her duties as an Employee) without written approval by an officer of the Company, unless and until such information
has become public knowledge through no fault of the Employee. Such obligations may be further specified in the applicable employment agreement, non-competition,
non-disclosure, and non-solicitation agreement and any other agreements of the same kind, if any, made between the Employee and the Company or any Parent or Subsidiary.


  
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(cc)    “Non-Solicitation Obligation” means for a period of two
years following the termination of employment for any reason whatsoever, the Employee will not, directly or indirectly, either for the Employee or for any other entity or individual, in any capacity, induce or attempt to induce or call upon or
solicit any of the Company’s Employees, consultants, vendors, prospective vendors, suppliers, landlords or other business relations of the Company to leave or cease doing business with the Company or in any way interfere with the relationship
between the Company and any of the Company’s Employees, vendors, prospective vendors, suppliers, landlords or other business relations, or hire or solicit for employment any Employee. Such obligations may be further specified in the applicable
employment agreement, non-competition, non-disclosure, and non-solicitation agreement and any other agreements of the same kind,
if any, made between the Employee and the Company or any Parent or Subsidiary. 
 (dd)    “Nonqualified Stock
Option” means an Option not intended to qualify as an Incentive Stock Option, as designated in the applicable Award Agreement, or an Incentive Stock Option that does not so qualify. 

(ee)    “Option” means an option to purchase Shares that is granted pursuant to the Plan in accordance
with Section 8 hereof. 
 (ff)    “Parent” means a “parent corporation” with respect to
the Company, whether now or hereafter existing, as defined in Section 424(e) of the Code. 

(gg)    “Person” means an individual, corporation, partnership, association, trust, or any other entity.


  
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 (hh)     “Plan” means this Share Incentive Plan, as
amended from time to time. 
 (ii)    “PRC” means the People’s Republic of China, but for the
purpose of this Plan and for jurisdiction reference only, excluding Taiwan, Hong Kong, Macau. 

(jj)    “Purchase Price” means the amount of consideration for which one Share may be acquired pursuant
to a Share Purchase Right or Share Award, as specified by the Administrator in the applicable Restricted Share Purchase Agreement or Share Award in accordance with Section 7(c) hereof 

(kk)    “Purchaser” means the holder of Shares purchased pursuant to the exercise of a Share Purchase
Right. 
 (ll)    “Restricted Share Purchase Agreement” means a written or electronic agreement between
the Company and a Purchaser, the form(s) of which shall be approved from time to time by the Administrator, evidencing the terms and conditions of an individual Share Purchase Right, and includes any documents attached to or incorporated into the
Restricted Share Purchase Agreement. The Restricted Share Purchase Agreement shall be subject to the terms and conditions of the Plan. 

(mm)    “Restricted Shares” means Shares acquired pursuant to a Share Purchase Right or Share Award
Agreement (if subjected to rights of redemption, repurchase or forfeiture). 
 (nn)    “SAFE” means the
PRC State Administration of Foreign Exchange and its local branches. 
 (oo)    “Securities Act” means
the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

  
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 (pp)    “Service Provider” means an Employee, Director,
or Consultant. 
 (qq)    “Share” or “Ordinary Share” means a common stock or ordinary share
of the Company, as adjusted in accordance with Section 13 hereof. 
 (rr)    “Share Award” means
an award or issuance of Shares or other similar awards made under Section 7 of the Plan, the grant, issuance, retention, vesting, settlement and/or transferability of which is subject during specified periods of time to such conditions
(including continued employment or performance conditions (if any)) and terms as are expressed in the agreement or other documents evidencing the Award (the “Share Award Agreement”). 

(ss)    “Shareholders Agreement” means any agreement between an Awardee as a member of the Company and
the Company or other members of the Company or both. 
 (tt)    “Share Purchase Right” means a right to
purchase Restricted Shares pursuant to Section 7 hereof. 
 (uu)    “Subsidiary” means a
“subsidiary corporation” with respect to the Company, whether now or hereafter existing, as defined in Section 424(f) of the Code. 

(vv)     “United States” means the United States of America, its territories and possessions, any State
of the United States, and the District of Columbia. 
 (xx)“U.S. Treasury Regulations” means the Regulations as issued by the
United States Treasury Department, as carried out by the Internal Revenue Service (“IRS”), under the Internal Revenue Code of 1986 (that is, as “Code” is defined under (k) above.) 

3.    Shares Subject to the Plan.  

  
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 (a)    Basic Limitation. Subject to the provisions of
Section 13 hereof, the maximum aggregate number of Shares that may be delivered under the Plan, and any similar plan in other jurisdictions, shall not exceed 400,000,000 Shares (as appropriately adjusted for subsequent stock splits, stock
dividends and the like). The Shares that may be delivered under this Plan will be the Company’s Ordinary Shares which are to be issued to and held by the Awardees, or one or more entities (“ESOP Vehicles”) owned or designated
by the Awardees prior to or after the Company’s listing. The number of Shares that are subject to Awards outstanding under the Plan at any time shall not exceed the aggregate number of Shares that then remain available reserved under the Plan.
The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of outstanding Awards granted under the Plan. 

(b)    Additional Shares. If an Award expires, becomes unexercisable, or is cancelled, forfeited, or otherwise
terminated without having been exercised or settled in full, as the case may be, the Shares allocable to the unexercised portion of the Award shall again become available for future grant or sale under the Plan (unless the Plan has terminated).
Shares that actually have been delivered under the Plan, upon exercise of an Award or delivery under a Share Purchase Right or Share Award, shall not be returned to the Plan and shall not become available for future distribution under the Plan,
except that in the event that Shares delivered under the Plan are reacquired by the Company pursuant to any forfeiture provision, right of repurchase or redemption, or are retained by the Company upon the exercise of or purchase of Shares under an
Award in order to satisfy the Exercise Price or Purchase Price for the Award or any withholding taxes due with respect to the exercise or purchase, such Shares shall again become available for future grant under the Plan.  

4.    Administration of the Plan.  

(a)    Administrator. The Plan shall be administered by the Chief Executive Officer of the Company. The Chief
Executive Officer of Company may authorize one or more officers in writing to administrate the grants of any Awards and may limit such authority as the Chief Executive Officer determines from time to time. 

  
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 (b)    Powers of the Administrator. Subject to the provisions of
the Plan, and subject to the approval of the Board, the Administrator shall have the authority in its discretion:  
 to determine the Fair Market
Value, in accordance with Section 2(v) hereof; 
 to select the Awardees to whom Awards may from time to time be granted hereunder; 

to determine the number of Shares to be covered by each Award granted hereunder; 

to approve the form(s) of agreement for use under the Plan; 
 to
determine the terms and conditions of any Award granted hereunder including, but not limited to, the Exercise Price, the Purchase Price, the time or times when Awards may be exercised (which may be based on performance criteria), the time or times
when repurchase or redemption rights shall lapse, any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the
Administrator, in its sole discretion, shall determine; 
 to implement a program where (A) outstanding Awards are surrendered or cancelled in exchange
for Awards of the same type (which may have lower Exercise/Purchase Prices and different terms), Awards of a different type, or cash, or (B) the Exercise/Purchase Price of an outstanding Award is reduced, based in each case on terms and
conditions determined by the Administrator in its sole discretion; 
 to approve earlier Exercise of the Awards granted under the Plan. 

to implement any ESOP platform system necessary to facilitate the administration of this Plan. 

  
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 to prescribe, amend, and rescind rules and regulations relating to the Plan, including rules and regulations
relating to sub-plans established for the purpose of satisfying applicable laws of jurisdictions other than the United States; 

to allow Awardees to satisfy withholding tax obligations by the Administrator electing to have the Company withhold from the Shares to be delivered under an
Award that number of Shares having a Fair Market Value equal to the minimum amount required to be withheld in accordance with the Applicable Laws. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of
tax to be withheld is to be determined. All elections by Awardees to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable. For the avoidance of doubt, the
Company and the Administrator shall not be responsible for any failure by the Awardee to discharge all taxes and liabilities to which he or she may become subject as a result of his or her participation in this Plan or the delivery of any Shares;

 to modify or amend each Award, including, without limitation, the discretionary authority to extend the post-termination exercisability of an Award
longer than is otherwise provided for in an Award Agreement or accelerate the vesting or exercisability of an Award or lapsing of a repurchase or redemption right to which Restricted Shares may be subject; 

to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; and 

to make any other determination and take any other action that the Administrator deems necessary or desirable for the administration of the Plan. 

(c)    Delegation of Authority to Officers. Subject to Applicable Law, the Administrator may delegate limited
authority to specified officers of the Company to execute on behalf of the Company any instrument required to effect an Award previously granted by the Administrator. 

(d)    Effect of Administrator’s Decision. All decisions, determinations, and interpretations of the
Administrator shall be final and binding on all Awardees.  

  
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 5.    Eligibility. 

(a)    General Rule. With the exception of any holding company managed by the Administrator or its delegates for
the purpose of administrating the Plan, only Service Providers, or trusts or companies established in connection with any employee benefit plan of the Company (including the Plan) for the benefit of a Service Provider, shall be eligible for the
grant of Awards. Incentive Stock Options may be granted to Employees only. 
 6.    Terms and Conditions of Award
(including Restricted Shares and restricted share units). 
 (a)    Award Agreement. Each grant of an Award
under the Plan shall be evidenced by an Award Agreement between the Awardee and the Company. Each Award shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not
inconsistent with the Plan and that the Administrator deems appropriate for inclusion in an Award Agreement. The provisions of the various Award Agreements entered into under the Plan need not be identical. 

(b)    Type of Award. Each Award shall be designated in the Award Agreement as either an Option, a Share Purchase
Right, a Restricted Share, a restricted share unit or a Share Award. 
 (c)    Number of Shares. Each Award
Agreement shall specify the number of Shares that are subject to the Award and shall provide for the adjustment of such number in accordance with Section 13 hereof. 

  
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 (d)    Exercise Price. Subject to the provision of
Section 8(b), each Award Agreement shall specify the Exercise Price. The Exercise Price shall be payable in accordance with Section 10 hereof and the applicable Award Agreement. 

(e)    Term of Award. The Award Agreement shall specify the term of the Award; provided, however, that the term
shall not exceed ten (10) years from the Date of Grant. Subject to the preceding sentence, the Administrator in its sole discretion shall determine when an Award is to expire. 

(f)    Exercisability. Each Award Agreement shall specify the date when all or any installment of the Award is to
become exercisable. The exercisability provisions of any Award Agreement shall be determined by the Administrator in its sole discretion.  

(g)    Exercise Procedure. Any Award granted hereunder shall be exercisable according to the terms hereof at such
times and under such conditions as may be determined by the Administrator and/or as set forth in the Award Agreement; provided, however, that an Award shall not be exercised for a fraction of a Share. 

An Award shall be deemed exercised when the Company receives (A) written or electronic notice of exercise (in accordance with the Award Agreement) from
the person entitled to exercise the Award, (B) full payment for the Shares with respect to which the Award is exercised, and (C) all representations, indemnifications, and documents reasonably requested by the Administrator including,
without limitation, any Shareholders Agreement has been entered into to the satisfaction of the Administrator. Full payment may consist of any consideration and method of payment authorized by the Administrator in accordance with Section 10
hereof and permitted by the Award Agreement. Upon the Award being exercised and when the exercise procedure as stipulated in this clause has been fully complied with, the Company shall cause or procure the underlying Ordinary Shares or the relevant
economic interests (i) be issued to the Awardees designated by the Company or certain ESOP Vehicles owned or designated by such Awardees, or (ii) be assigned to the Awardees by other measures or methods deemed necessary or appropriate by
the Administrator. 

  
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 Shares delivered upon exercise of an Award shall be delivered in the name of the Awardee or, if requested by
the Awardee, in the name of the Awardee and his or her spouse. Subject to the provisions of Sections 9, 10, 15, and 16, the Company shall issue (or cause to be issued) certificates evidencing the delivered Shares promptly after the Award is
exercised. Notwithstanding the foregoing, the Administrator in its discretion may require the Company to retain possession of any certificate evidencing Shares acquired upon the exercise of an Award, if those Shares remain subject to repurchase or
redemption under the provisions of the Award Agreement, any Shareholders Agreement, or any other agreement between the Company and the Awardee, or if those Shares are collateral for a loan or obligation due to the Company. 

Exercise of an Award in any manner shall result in a decrease in the number of Shares thereafter available, both for purposes of the Plan (in accordance with
Section 3(b)) and for sale under the Award, by the number of Shares as to which the Award is exercised. 

(h)    Vesting Schedule. Subject to the Awardee’s continued status as a Service Provider through each of the
applicable vesting dates and to the extent permitted by applicable law, the Award shall become exercisable, in whole or in part, in accordance with the terms thereof at such times and under such conditions as maybe determined by the Administrator
and/or set forth in the Award Agreement. Unless the Administrator determines otherwise, all Awards shall become exercisable as set forth in the following schedule: 

33%, 33% and 34% of the Awarded Shares shall vest on each of the second, forth, and sixth anniversary of the Vesting Commencement Date,
subject to the Awardee’s continuing to be a Service Provider through these dates. Before or after execution of the Award Agreement, the vesting schedule for certain Awardees may be modified or changed by the Administrator in its sole discretion
as it deems necessary or appropriate where if the Administration so determined the new agreement between the Company and the Awardee shall be deemed established and effective immediately regarding the said modification or change. 

  
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 (i)    Alteration of Granted Awards. As long as the Administrator
determines necessary or appropriate but in no event later than one (1) working day before each vesting date of the Awards, the Administrator, hereby authorized by the Board of Directors of the Company, may review the capabilities of the
Awardees in accordance with certain performance target or evaluation criteria of the relevant position or rank and, if the Administrator determines that the Awardees fail to meet the performance target or fulfill the evaluation criteria, reduce the
amount of unvested Awards granted to the Awardees to the extent that the Administrator deemed applicable, provided that such performance target or evaluation criteria have been determined by the Administrator and informed such Awardee in advance,
and provided further that the unvested Awards so reduced should not exceed 20% the unvested Awards of such Awardee then outstanding. Subject to the preceding sentence, if the Administrator so determines, the new agreement between the Company and the
Awardee shall be deemed established and effective immediately regarding the said alteration of Awards. The Awards as so reduced shall be deemed forfeited immediately and can be retained by the Company for future grant under the Plan. 

(j)    Termination of Service (other than by death). 

If an Awardee ceases to be a Service Provider for Cause, the Award or any other share-based award received by the Awardee will terminate and be cancelled on
the Awardee’s severance date, whether or not the Award or other share-based awards is then vested and/or exercisable. If an Awardee ceases to be a Service Provider for any reason other than because of death and without Cause, then the
Awardee’s Awards shall expire on the earliest of the following occasions: 

  
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 The expiration date determined by Section 6(e) hereof; 

The last day of the three-month period following the cessation of the Awardee as a Service Provider for any reason other than Disability, or such later date
as the Administrator may determine and specify in the Award Agreement, provided that no Award that is exercised after the expiration of the three-month period immediately following the termination of the Awardee’s relationship as an Employee
shall be treated as an Incentive Stock Option; or 
 The last day of the twelve-month period following the cessation of the Awardee as a Service Provider by
reason of Disability, or such later date as the Administrator may determine and specify in the Award Agreement; provided that no Award that is exercised after the expiration of the twelve-month period immediately following the cessation of the
Awardee as an Employee shall be treated as an Incentive Stock Option. 
 Following the cessation of the Awardee as a Service Provider, the Awardee may
exercise all or part of the Awardee’s Award at any time before the expiration of the Award as set forth in Section 6(j)(i) hereof, but only to the extent that the Award was vested and exercisable as of the date of cessation of the Awardee
as a Service Provider (or became vested and exercisable as a result of the cessation). The balance of the Shares subject to the Award shall be forfeited on the date of cessation of the Awardee as a Service Provider. In the event that the Awardee
dies after the cessation of the Awardee as a Service Provider but before the expiration of the Awardee’s Award as set forth in Section 6(j)(i) hereof, all or part of the Award may be exercised (prior to expiration) by the executors or
administrators of the Awardee’s estate or by any person who has acquired the Award directly from the Awardee by beneficiary designation, bequest, or inheritance, but only to the extent that the Award was vested and exercisable as of the
cessation date of the Awardee as a Service Provider (or became vested and exercisable as a result of the cessation). Any Awarded Shares subject to the portion of the Award that are vested as of the cessation date of the Awardee as a Service Provider
but that are not purchased prior to the expiration of the Award pursuant to this Section 6(j) shall be forfeited immediately following the Award’s expiration. 

  
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 (k)    Leaves of Absence. Unless otherwise determined by the
Administrator, for purposes of this Section 6, the service of an Awardee as a Service Provider shall be deemed to continue while the Awardee is on a bona fide leave of absence, if such leave was approved by the Company and/or the Affiliate in
writing. Unless otherwise determined by the Administrator and subject to Applicable Law, vesting of an Award shall be suspended during any unpaid leave of absence. 

(l)    Death of Awardee.  

If an Awardee dies while a Service Provider, then the Awardee’s Award shall expire on the earlier of the following dates: 

The expiration date determined by Section 6(e) hereof; 

The last day of the six-month period immediately following the Awardee’s death, or such later date as the
Administrator may determine and specify in the Award Agreement. 
 All or part of the Awardee’s Award may be exercised at any time before the
expiration of the Award as set forth in Section 6(l)(i) hereof by the executors or administrators of the Awardee’s estate or by any person who has acquired the Award directly from the Awardee by beneficiary designation, bequest, or
inheritance, but only to the extent that the Award was vested and exercisable as of the date of the Awardee’s death or had become vested and exercisable as a result of the death. The balance of the Shares subject to the Award shall be forfeited
upon the Awardee’s death. Any Awarded Shares subject to the portion of the Award that are vested as of the Awardee’s death but that are not purchased prior to the expiration of the Award pursuant to this Section 6(l) shall be
forfeited immediately following the Award’s expiration. 

  
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 (m)    Restriction on Exercise of Award. Notwithstanding any
provision to the contrary in this Plan, in the event that an Awardee who is an Employee ceases to be a Service Provider for any reason whatsoever, the Award granted to him/her may not be exercised as of such termination, unless otherwise provided in
the applicable Award Agreement. Any exercise of the Award is subject to (i) such Awardee’s full compliance with the Non-Compete Obligation, the Non-Disclosure
Obligation and the Non-Solicitation Obligation, (ii) any other obligations to which the Awardee is subject under any applicable employment agreement,
non-competition, non-disclosure and non-solicitation agreement and any other agreements of similar kind, if any, made between the
Employee and the Company or any Parent or Subsidiary, and their ancillary documents, and (iii) a requirement that the cessation of the Awardee as a Service Provider is not for Cause. In the event that an Awardee is in breach of any of the
aforementioned obligations for any reason whatsoever, the Company may, at its sole discretion, withdraw any Award which the Awardee is entitled to exercise but has not yet exercised and reacquire from such Awardee any Shares delivered to such
Awardee pursuant to the applicable Award Agreement and the Awardee shall be obliged to return any share certificate(s) evidencing such Shares upon request of the Company or the Administrator, provided that the Company shall refund the Exercise Price
paid by the Awardee without any interest or fees whatsoever, subject to any compensation or indemnification to which the Company is entitled and/or any costs incurred by the Company due to such breach of any aforementioned obligations of the
Awardee. 
 (n)    Restrictions on Transfer of Shares. Shares delivered upon exercise of an Award shall be
subject to such special forfeiture conditions, rights of repurchase or redemption, rights of first refusal, and other transfer restrictions as the Administrator may determine. The restrictions described in the preceding sentence shall be set forth
in the applicable Award Agreement and shall apply in addition to any restrictions that may apply to holders of Shares generally.  

  
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 7.    Terms and Conditions of Share Purchase Rights and Share
Awards. 
 (a)    Restricted Share Purchase Agreement or Share Award Agreements. Each Share Purchase Right or
Share Award under the Plan shall be evidenced by a Restricted Share Purchase Agreement or Share Award Agreement, respectively, between the Purchaser and the Company. Each Share Purchase Right and each Share Award shall be subject to all applicable
terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and that the Administrator deems appropriate for inclusion in a Restricted Share Purchase Agreement or Share Award
Agreement, including without limitation, (i) the number of Shares subject to such Restricted Share Purchase Agreement or Share Award, as applicable, or a formula for determining such number, (ii) the Purchase Price of the Shares, if any,
and the means of payment for the Shares, (iii) the performance criteria, if any, and level of achievement versus these criteria that shall determine the number of Shares granted, issued, retainable and/or vested, (iv) such terms and
conditions on the grant, issuance, vesting, settlement and/or forfeiture of the Shares as may be determined from time to time by the Administrator and (v) restrictions on the transferability of the Award. The provisions of the various
Restricted Share Purchase Agreements and Share Award Agreements entered into under the Plan need not be identical. 

(b)    Duration of Offers of Share Purchase Rights. Any Share Purchase Rights granted under the Plan shall
automatically expire if not exercised by the Purchaser within 30 days (or such longer time as is specified in the Restricted Share Purchase Agreement) after the Date of Grant. 

(c)    Purchase Price. The Purchase Price, if any, shall be determined by the Administrator in its sole discretion.
The Purchase Price, if any, shall be payable in a form described in Section 10 hereof. 

  
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 (d)    Restrictions on Transfer of Shares. Any Shares awarded or
sold pursuant to Share Purchase Rights or Share Awards shall be subject to such special forfeiture conditions, rights of repurchase or redemption, rights of first refusal, market stand-offs, and other transfer restrictions as the Administrator may
determine. The restrictions described in the preceding sentence shall be set forth in the applicable Restricted Share Purchase Agreement or Share Award Agreement, as applicable, and shall apply in addition to any restrictions that may apply to
holders of Shares generally. Unless otherwise determined by the Administrator and subject to Applicable Law, vesting of Shares acquired pursuant to a Restricted Share Purchase Agreement or Share Awards shall be suspended during any unpaid leave of
absence.  
 8.    Terms and Conditions of Option. 

(a)    Type of Option. Each Option shall be designated in the Award Agreement as either an Incentive Stock Option or
a Nonqualified Stock Option. However, notwithstanding a designation of an Option as an Incentive Stock Option, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the
first time by an Optionee during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds US$100,000, such Options shall be treated as Nonqualified Stock Options. For purposes of this Section 8(a), Incentive Stock
Options shall be taken into account in the order in which they were granted. The Fair Market Value of the Shares shall be determined as of the Date of Grant.  

(b)    Exercise Price. The Exercise Price of an Incentive Stock Option to any U.S. Awardees shall not be less than
100% of the Fair Market Value on the Date of Grant; the Exercise Price of any Option granted to non-U.S. Awardees shall be determined by the Administrator. Notwithstanding anything to the contrary in the
foregoing, in the event of a transaction described in Section 424(a) of the Code, then, consistent with Section 424(a) of the Code, Incentive Stock Options may be delivered at an Exercise Price other than as required by the foregoing.
 

  
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 9.    Withholding Taxes. As a condition to the exercise of an
Award, purchase of Restricted Shares or receipt of a Share Award, the Awardee (or in the case of the Awardee’s death or in the event of a permissible transfer of Awards hereunder, the person exercising the Award, purchasing Restricted Shares or
receiving the Share Award) shall make such arrangements as the Administrator may require for the satisfaction of any applicable withholding taxes arising in connection with the exercise of an Award or purchase of Restricted Shares under the laws of
any applicable jurisdiction including Hong Kong, the PRC, the U.S. and any other jurisdiction. The Awardee (or in the case of the Awardee’s death or in the event of a permissible transfer of Awards hereunder, the person exercising
the Award, purchasing Restricted Shares or receiving Share Awards) also shall make such arrangements as the Administrator may require for the satisfaction of any applicable Hong Kong, PRC, U.S. federal, state, local, or non-PRC and non-U.S. withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Award, purchasing Restricted Shares or
receiving Share Awards. The Company shall not be required to deliver any Shares under the Plan until the foregoing obligations are satisfied. Without limiting the generality of the foregoing, upon the exercise of the Award or delivery of Restricted
Shares or Share or Award, the Company shall have the right to withhold taxes from any compensation or other amounts that the Company may owe to the Awardee, or to require the Awardee to pay to the Company the amount of any taxes that the Company may
be required to withhold with respect to the Shares delivered to the Awardee. Without limiting the generality of the foregoing, the Administrator in its discretion may authorize the Awardee to satisfy all or part of any withholding tax liability by
(i) having the Company withhold from the Shares that would otherwise be delivered upon the exercise of an Award, purchase of Restricted Shares that number of Shares or received in a Share Award having a Fair Market Value, as of the date the
withholding tax liability arises, equal to the portion of the Company’s withholding tax liability to be so satisfied or (ii) by delivering to the Company previously owned and unencumbered Shares having a Fair Market Value, as of the date
the withholding tax liability arises, equal to the amount of the Company’s withholding tax liability to be so satisfied. 

10.    Payment for Shares. The consideration to be paid for the Shares to be delivered under the Plan, including
the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined on the Date of Grant), subject to the provisions in this Section 10. 

  
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 (a)    General Rule. The entire Purchase Price or Exercise Price
(as the case may be) for Shares delivered under the Plan shall be payable in cash or cash equivalents at the time when the Shares are purchased, except as otherwise provided in this Section 10. 

(b)    Surrender of Shares. To the extent that an Award Agreement, Restricted Share Purchase Agreement or Share
Award Agreement so provides, all or any part of the Exercise Price or Purchase Price (as the case may be) may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Awardee. These Shares shall be surrendered
to the Company in good form for transfer and shall be valued at their Fair Market Value on the date the Award is exercised or Restricted Shares are purchased. The Awardee shall not surrender, or attest to the ownership of, Shares in payment of the
Exercise Price or Purchase Price (as the case may be) if this action would subject the Company to adverse accounting consequences, as determined by the Administrator. 

(c)    Services Rendered. At the discretion of the Administrator and to the extent so provided in the agreements
evidencing Awards of Shares under the Plan, Shares may be awarded under the Plan in consideration of services rendered to the Company or any Parent or Subsidiary prior to the Award.  

(d)    Exercise/Sale. At the discretion of the Administrator and to the extent an Award Agreement so provides, and
if the Shares are publicly traded, payment may be made all or in part by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the
sales proceeds to the Company in payment of all or part of the Exercise Price and any withholding taxes.  

(e)    Exercise/Pledge. At the discretion of the Administrator and to the extent an Award Agreement so provides,
and if the Shares are publicly traded, payment may be made all or in part by the delivery (on a form prescribed by the Company) of an irrevocable direction to pledge Shares to a securities broker or lender approved by the Company, as security for a
loan, and to deliver all or part of the loan proceeds to the Company in payment of all or part of the Exercise Price and any withholding taxes. 

  
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 (f)    Other Forms of Consideration. At the discretion of the
Administrator and to the extent an Award Agreement, a Restricted Share Purchase Agreement or Share Award so provides, all or a portion of the Exercise Price or Purchase Price may be paid by any other form of consideration and method of payment to
the extent permitted by Applicable Law. 
 11.    Non-transferability of Awards. Unless otherwise determined by
the Administrator and so provided in the applicable Award Agreement, Restricted Share Purchase Agreement or Share Award Agreement (or be amended to provide), no Award shall be sold, pledged, assigned, hypothecated, transferred, or disposed of in any
manner (whether by operation of law or otherwise) other than (i) by will or applicable laws of descent and distribution or (except in the case of an Incentive Stock Option) pursuant to a qualified domestic relations order or (ii) by trusts
or companies established in connection with any employee benefit plan of the Company (including the Plan) for the benefit of a Service Provider or Service Providers, in each case subject to Applicable Law, and shall not be subject to execution,
attachment, or similar process. In the event the Administrator in its sole discretion makes an Award transferable, only a Nonqualified Stock Option, Share Purchase Right or Share Award may be transferred provided such Award is transferred without
payment of consideration to members of the Awardee’s immediate family (as such term is defined in Rule 16a-1(e) of the Exchange Act) or to trusts or partnerships established exclusively for the benefit of
the Awardee and the members of the Awardee’s immediate family, all as permitted by Applicable Law. Upon any attempt to pledge, assign, hypothecate, transfer, or otherwise dispose of any Award or of any right or privilege conferred by this Plan
contrary to the provisions hereof, or upon the sale, levy or attachment or similar process upon the rights and privileges conferred by this Plan, such Award shall thereupon terminate and become null and void. Incentive Stock Options may be exercised
during the lifetime of the Awardee only by the Awardee. 

  
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 12.    Rights as a Member. Other than the Ordinary Shares
acquired by the CEO of the Company (Mr. LUO Min) based on the Awards granted to him by this Plan and the applicable Award Agreement, all Awards and Ordinary Shares acquired by the Awardees, directly or indirectly, in accordance with this Plan
shall have no voting rights. Besides, until the Shares actually are delivered (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to receive dividends or any other
rights as a member shall exist with respect to the Shares, notwithstanding the exercise of the Award. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are delivered, except as
provided in Section 13 of the Plan. 
 13.    Adjustment of Shares. 

(a)    Changes in Capitalization. Subject to any required action by the members of the Company in accordance with
Applicable Law, the class(es) and number and type of Shares that have been authorized for issuance under the Plan but as to which no Awards have yet been granted or that have been returned to the Plan upon cancellation or expiration of an Award, and
the class(es), number, and type of Shares covered by each outstanding Award, as well as the price per Share covered by each outstanding Award, shall be proportionately adjusted for any increase, decrease, or change in the number or type of
outstanding Shares or other securities of the Company or exchange of outstanding Shares or other securities of the Company into or for a different number or type of shares or other securities of the Company or successor entity, or for other property
(including, without limitation, cash) or other change to the Shares resulting from a share split, reverse share split, share dividend, dividend in property other than cash, combination of shares, exchange of shares, combination, consolidation,
recapitalization, reincorporation, reorganization, change in corporate structure, reclassification, or other distribution of the Shares effected without receipt of consideration by the Company; provided, however, that the conversion of any
convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” The adjustment contemplated in this Section 13(a) shall be made by the Board, whose determination shall be final,
binding and conclusive. Except as expressly provided herein, no issuance by the Company of equity securities of the Company of any class, or securities convertible into equity securities of the Company of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number, type, or price of Shares subject to an Award. Where an adjustment under this Section 13(a) is made to an Incentive Stock Option, the adjustment shall be made in a manner that will not
be considered a “modification” under the provisions of Section 424(h)(3) of the Code. 

  
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 (b)    Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company, the Administrator shall notify each Awardee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an Awardee to have the right
to exercise his or her Award until fifteen (15) days prior to the proposed dissolution or liquidation as to all of the Awarded Shares covered thereby, including Shares as to which the Award would not otherwise be exercisable. In addition, the
Administrator may provide that any Company repurchase or redemption award applicable to any Shares purchased upon exercise of an Award or Restricted Shares purchased under a Share Purchase Right shall lapse as to all such Shares, provided the
proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent an Award has not been previously exercised and all Restricted Shares covered by a Share Purchase Right have not been purchased, the Award will
terminate immediately prior to the consummation of such proposed action. 
 (c)    Change in Control. In the
event of a Change in Control, unless the Award Agreement, Restricted Share Purchase Agreement or Share Award Agreement provides otherwise, each outstanding Award shall be assumed or an equivalent award shall be substituted by, and each right of the
Company to repurchase, redeem or reacquire Shares upon termination of a Purchaser’s relationship as a Service Provider shall be assigned to, the successor corporation or a Parent or Subsidiary of the successor corporation. If, in the event of a
Change in Control, the Award is not assumed or substituted, or the repurchase, redemption or reacquisition or similar right is not assigned, in the case of an outstanding Award, the Award shall fully vest immediately and the Awardee shall have the
right to exercise the Award as to all of the Awarded Shares, including Shares as to which it would not otherwise be vested or exercisable, and, in the case of Restricted Shares, the Company’s repurchase, redemption or reacquisition or similar
right shall lapse immediately and all of the Restricted Shares subject to the repurchase, redemption or reacquisition or similar right shall become vested. If an Award becomes fully vested and exercisable, in lieu of assumption or substitution in
the event of a Change in Control, the Administrator shall notify the Awardee in writing or electronically that the Award shall be fully exercisable for a period of fifteen 

  
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(15) days from the date of such notice, and the Award shall terminate upon the expiration of such period. For purposes of this Section 13(c), an Award shall be considered assumed, and
Restricted Shares will be considered assigned if, following the Change in Control, the Award confers the right to purchase or receive, for each covered Share immediately prior to the Change in Control, the consideration (whether shares, cash, or
other securities or property) received in connection with the Change in Control by holders of Shares for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding Shares); provided, however, that if the consideration received in the Change in Control is not solely common stock or ordinary shares of the successor corporation or its Parent or Subsidiary,
the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Award or vesting of the Restricted Shares, for each covered Share, to be solely common stock or ordinary
shares of the successor corporation or its Parent or Subsidiary equal in Fair Market Value to the per Share consideration received by holders of Shares in the Change in Control. 

(d)    Reservation of Rights. Except as provided in this Section 13 and in the applicable Award Agreement,
Restricted Share Purchase Agreement or Share Award Agreement, an Awardee shall have no rights by reason of (i) any subdivision or consolidation of Shares or other securities of any class, (ii) the payment of any dividend, or (iii) any
other increase or decrease in the number of Shares or other securities of any class. Any issuance by the Company of equity securities of any class, or securities convertible into equity securities of any class, shall not affect, and no adjustment by
reason thereof shall be made with respect to, the number or Exercise Price of Awarded Shares. The grant of an Award, Share Purchase Right or Share Award shall not affect in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations, or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell, or transfer all or any part of its business or assets. 

  
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 14.    Date of Grant. The Date of Grant of an Award shall, for
all purposes, be the date on which the Administrator makes the determination to grant the Award, or such other later date as is determined by the Administrator. In any event, the Date of Grant shall be no earlier than the effective date of a legally
binding Award Agreement which has been entered by the Awardee or Awardee and the Company. 
 15.    Securities Law
Requirements. 
 (a)    Legal Compliance. Notwithstanding any other provision of the Plan or any agreement
entered into by the Company pursuant to the Plan, the Company shall not be obligated, and nor shall it have any liability for failure to deliver any Shares under the Plan unless the issuance and delivery of Shares comply with (or are exempt from)
all Applicable Law, including, without limitation, the applicable securities laws in the Cayman Islands, Hong Kong, PRC, Securities Act, U.S. state securities laws and regulations, and the regulations of any stock exchange or other securities market
on which the Company’s securities may then be traded, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

(b)    Investment Representations. Shares delivered under the Plan shall be subject to transfer restrictions, and
the person acquiring the Shares shall, as a condition to the exercise of an Award or the purchase or acquisition of Restricted Shares if requested by the Company, provide such assurances and representations to the Company as the Company may deem
necessary or desirable to assure compliance with Applicable Law, including, without limitation, the representation and warranty at the time of acquisition of Shares that the Shares are being acquired only for investment purposes and without any
present intention to sell, transfer, or distribute the Shares. 

  
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 16.    Condition to Exercise. Any exercise of Award or the rights
to purchase the Shares, or any issuance of Shares under the applicable Award Agreement, Share Purchase Rights and Share Awards shall be subject to the Awardee or the holder of Share Purchase Rights and Share Awards being in compliance with all
applicable PRC laws and regulations, including but not limited to the requirement of registration with SAFE. 

17.    Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body
having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to deliver or sell such Shares
as to which such requisite authority shall not have been obtained.  
 18.    Clawback. Notwithstanding
any other provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law,
government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement). 

19.    Approval by Members and Validity. The Plan shall be approved and adopted by the Board. Such approval by
members of the Company shall be obtained in the degree and manner required under Applicable Law and the Articles. Awards may be granted but Awards may not be exercised and Restricted Shares may not be purchased or acquired prior to approval of the
Plan by members of the Company. Awards may be granted but not be exercised prior to the last day of the six-month period following the listing date of the Company. 

          In the event that the Shares are to be listed on the Hong Kong Stock Exchange, any
grant of an Award to any director, chief executive officer or substantial shareholder of any member of the Group, or any of their respective associates (as defined in the HKSE Listing Rules) upon the Company’s listing, shall be subject to the
prior approval of the independent non-executive Directors (excluding any independent non-executive Director who is the proposed Grantee of the Awards in question) and
shall otherwise be subject to compliance with the requirements of the HKSE Listing Rules. Notwithstanding the foregoing, any grant of an Award to a director pursuant to Rule 14A.73(6) of the HKSE Listing Rules will be exempted from reporting,
announcement and independent Shareholders’ approval requirements if the Award forms part of the relevant director’s remuneration under his/her service contract. 

  
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 20.    Duration and Amendment. 

(a)    Term of Plan. Subject to approval by members of the Company in accordance with Section 18 hereof, the
Plan shall become effective upon the later to occur of its adoption by the Board or its approval by the members of the Company as described in Section 18 hereof. In the event that the members of the Company fail to approve the Plan within 12
months prior to or after its adoption by the Board, any Awards that have been granted and any Shares that have been awarded or purchased under the Plan shall be rescinded, and no additional Awards shall be granted thereafter. Unless sooner
terminated under Section 19(b) hereof, the Plan shall continue in effect for a term of ten (10) years. 

(b)    Amendment and Termination. The Board may at any time amend, alter, suspend, or terminate the Plan, subject
to Applicable Law and the Articles. 
 (c)    Effect of Amendment or Termination. Termination of the Plan shall
not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. No Shares shall be delivered or sold under the Plan after the termination
thereof, except upon exercise of an Award granted prior to the termination of the Plan. 
 21.    Legending Share
Certificates. In order to enforce any restrictions imposed upon Shares delivered upon the exercise of Awards or the acquisition of Restricted Shares, including, without limitations, the restrictions described in Sections 6(m), 7(d), and 15(b)
hereof, the Administrator may cause a legend or legends to be placed on any share certificates representing the Shares, which legend or legends shall make appropriate reference to the restrictions, including, without limitation, a restriction
against sale of the Shares for any period as may be required by Applicable Law. 

  
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 22.    No Retention Rights. Neither the Plan nor any Award shall
confer upon any Awardee any right to continue his or her relationship as a Service Provider with the Company for any period of specific duration or interfere in any way with his or her right or the right of the Company (or any Parent or Subsidiary
employing or retaining the Awardee), which rights are hereby expressly reserved by each, to terminate this relationship at any time, with or without cause, and with or without notice.  

23.    No Registration Rights. The Company may, but shall not be obligated to, register or qualify the sale of
Shares under the Securities Act or any other Applicable Law. The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Plan to comply with any law. 

24.    No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company or any Parent or Subsidiary and an Awardee or any other person. To the extent that any Awardee acquires a right to receive payments from the Company or any Parent or
Subsidiary pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company, a Parent, or any Subsidiary.  

25.    No Rights to Awards. No Awardee, eligible Service Provider, or other person shall have any claim to be
granted any Award under the Plan, and there is no obligation for uniformity of treatment of a Service Provider, Awardee, or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to
any Awardee or with respect to different Awardees. 

  
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 26.    Exemption from Section 409A of the
Code. This Plan is intended to qualify for exemption from the application of Section 409A of the Code, such that due to the exemption(s) available under the Code, the IRC Section 409A will not apply to the Plan. Accordingly, the Plan
will not provide any “deferred compensation arrangement” to any of the Plan Awardee(s). For purposes of this Plan, the term “deferred compensation arrangement” shall mean an arrangement, which has the possibility of an Awardee,
deferring the timing of taxation (in the U.S.) of any award received under the Plan to a tax year later than then year during which the Awardee was given legal or economic right(s) with respect to the Award. None of the Award under this Plan shall
include any phantom stock(s) or phantom share(s) arrangement. Notwithstanding any other provision to the contrary, in the event that any term(s) or condition(s) under this plan or any of the related document(s), such as the Award Agreement (as
referred to in 2 (cc), Restricted Share Purchase Agreement (as referred to in 2 (ll)), Share Purchase Agreement (as referred to in 2(mm)), and the Share Award Agreement (as referred to in 2(mm)), may cause this Plan to be subject to the application
of IRC Section 409A, such term(s) or condition(s) shall be void and ineffective. While the objective is for this Plan to be exempt from the application of IRC Section 409A, and the Company has made its best efforts to achieve the
objective, the Company shall not have any liability or obligation (including but not limited to any obligation to indemnify an Awardee for penalties, taxes or any other losses) to an Awardee in the event that the Plan does not qualify for the
exemption from IRC Section 409A. 
 27.    Language. This Plan has been written in English. 

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