Exhibit 4.23


 


Lease
Agreement


 


Party
A: Zhangjiagang Jinmao Investment Development Co. LTD 


Party
B: Shangchi Automobile Co., Ltd.


 


After
negotiation, both parties reached the following agreement on land, housing and other lease matters:


 


		1.	Party
                                         B rents the 11688 m2 workshop, 4515 m2 land, train operation, transformer,
                                         cable, and other facilities of former Chassis Factory of Peony Group located in the Yongli
                                         village, Leyu Town, Zhangjiagang City.






		2.	The
                                         lease period: one year, from August 10, 2020 to August 9, 2021.






		3.	The
                                         rent is 1 million RMB one year, which is still the preferential rental price determined
                                         by the two parties. The rent is paid semiannually.






		4.	Party
                                         B shall bear all expenses such as electricity, water and sanitation during the lease
                                         period.






		5.	Party
                                         B should not damage the facilities in the Premises. If structural change is necessary
                                         in the process of decoration or the installation of the equipment does damage to the
                                         Premises, Party B should get the prior written approval from Party A. The cost
                                         of such change should be borne by Party B. The structural changes that Party B will carry
                                         out to the Premises are indicated in the project attached to this Contract. Party A hereby
                                         gives its consent to such changes.






		6.	During
                                         the lease period, Party B shall be responsible for the safety inspection, use,
                                         maintenance and repair of all the leased assets. Party B should be responsible for the
                                         reinstatement works and compensation for the economic losses for the damage of the Premises
                                         and loss of its facilities due to the mismanagement of Party B.






		7.	After
                                         the lease expires or the agreement is terminated due to other reasons such as termination
                                         of the agreement, Party B must move out within 15 days after the agreement is terminated,
                                         and pay all the costs that should be borne by Party B. Party A does not assume any responsibility
                                         for compensation, and Party A must be present at the same time as the day of moving out.



 



     


     


    




		8.	When
                                         the lease expires, Party B should return the leased house land as scheduled. If Party
                                         B needs to continue to lease, it should give the written request to Party A two months
                                         before the lease expires. right.






		9.	During
                                         the lease period, if the plant land leased by Party A to Party B is sold, auctioned,
                                         or subject to other sanctions, Party A shall notify Party B two months in advance. Party
                                         B shall cooperate, but Party A shall ensure that the asset transferee gives Party B Enjoy
                                         the right to lease within the lease period.






		10.	If
                                         the contractual relationship between the two parties is terminated and Party B does not
                                         move out unconditionally within the agreed date, Party A will give Party B a 15-day grace
                                         period. The rent for the grace period is calculated at 6000 yuan per day. Party A pays
                                         the house usage fee to Party A at twice the original lease price, and it is deemed that
                                         Party B authorizes Party A to have the right to move or leave and dispose of all items
                                         of Party B, and Party B shall bear the losses incurred.






		11.	Party
                                         B shall abide by the laws and disciplines in its business activities. In the event of
                                         violations of the law, Party B shall be responsible for all consequences.






		12.	During
                                         the lease period, both parties should abide by the contract and may not cancel the contract
                                         at will. For example, due to government planning, urban construction needs, and local
                                         government industrial planning needs, the two parties should obey the government’s
                                         needs, that is, terminate the lease relationship and handle them in accordance with relevant
                                         regulations.






		13.	If
                                         Party B fails to pay the rent or other payables on time during the rental period, Party
                                         A has the right to recover from Party B the default penalty of 1% of the daily rent owed;
                                         Party A has the right to stop water if it is overdue for more than 10 days. Measures
                                         such as power outages can also unilaterally terminate this contract and claim damages
                                         in accordance with the aforementioned standards.






		14.	Party
                                         B voluntarily sublet, lend or transfer the leased house land to others for use, or add
                                         the house to the body structure, or privately occupy unused house land, or seriously
                                         violate other provisions of this contract. Party A has The unilateral party terminates
                                         this contract and claims the costs and compensation that should be borne by Party B.



 






     


     


    




		15.	If
                                         Party A realizes its claims through litigation due to the above-mentioned breach of contract
                                         by Party B, Party B shall bear the costs of Party A ‘s realization of its claims
                                         (including litigation fees, attorney fees, security fees, etc.)






		16.	Both
                                         parties must fully fulfill the obligations stipulated in the contract. If either party
                                         breaches the contract, it shall compensate the other party for economic losses in accordance
                                         with the law.






		17.	This
                                         contract is made in duplicate, with each party holding one copy, and the contract becomes
                                         effective after being signed by the representatives of both parties.



 


	Party	 	A Party
    B
	 	 	 
	Date of signature:	 	Date of signature: